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SFAS No. 164: M&A Activities for NFP OrganizationsIn May 2009 [with an April 2009 issue date on the document], the FASB issued SFAS No. 164, entitled Not-for-Profit Entities: Mergers and Acquisitions. The FASB objective in issuing SFAS No. 164 is to improve financial reporting by NFP organizations when they are involved in combinations with one or more other NFP organizations, businesses, or nonprofit activities.