IIF() returns the evaluation of the expressions in the 2nd and 3rd parameters, in your example, it would either
1) return .T. or .F., depending on the existing value of m.delegated,
2) or throw and error that m.delegated didn't exist

To get what you want with IIF(), do

m.delegated = IIF(org.delegated, 'Y', 'N')
m.contract = IIF(org.contract, 'Y', 'N')

>What's wrong here?
>

>IIF(org.delegated,m.delegated='Y',m.delegated='N')
>IIF(org.contract,m.contract='Y',m.contract='N')
>

>
>This below works, but why not IIF?
>

>IF org.delegated
>	m.delegated='Y'
>ELSE
>	m.delegated='N'
>ENDIF
>IF org.contract
>	m.contract='Y'
>ELSE
>	m.contract='N'
>ENDIF
>

>
>Chuck