ICDPs are designed to show that conservation and development efforts do not have to be in opposition to one another. Efforts related to VITA ICDPs include enhancing the ability of protected area personnel to protect biodiversity, introducing and supporting sustainable agriculture and forest preservation techniques, developing alternative livelihood options, and joining conservation education with community development efforts 2. Under these provisions, net assets and revenues, expenses, gains and losses are classified based on the existence or absence of donor imposed restrictions. Depreciation is provided over the estimated useful lives of the respective assets using the straight-line method. Equipment held under capital lease is stated at the present value of minimum lease payments at the inception of the lease.
Depreciation is provided over the lesser of the useful life of the asset or the term of the lease.
VITA reports gifts of cash and other assets as restricted support if they are received with donor stipulations that limit the use of the donated assets. When a donor restriction expires, that is, when a stipulated time restriction ends or purpose restriction is accomplished, temporarily restricted net assets are reclassified to unrestricted net assets and reported in the statement of activities as net assets released from restrictions. VITA reports gifts of cash and other assets that are received without donor stipulations as unrestricted support. VITA recognizes contract and grant revenue in amounts equal to allowable direct and indirect costs incurred, up to limits specified in each agreement. VITA typically does not receive fees above the costs incurred under the agreements.