Monday, June 19, 2023

3:15 PM – 7:00 PM EDT

REGISTRATION OPEN

4:00 PM – 4:50 PM EDT

NOT2300. Bonus Session in Honor of Juneteenth: A Fireside Chat with Cynthia Bowman, Bank of America

Cynthia Bowman

- Chief Diversity and Inclusion and Corporate Social Responsibility Officer | Bank of America

During this fireside chat Cynthia will share her insights and practical tips on topics including; engaging employees in D&I, impactful D&I Strategies, emerging D&I Issues, measuring the impact of D&I, and D&I as a driver of Responsible Growth.

Learning Objectives:

Analyze the Importance of D&I to Responsible Growth
Determine how to take your D&I work to the next level
Identify how to engage your employees in D&I
Distinguish and prepare for current and emerging D&I Issues

4:45 PM – 6:00 PM EDT

JUNETEENTH Celebration and Networking Reception (Onsite)

Tuesday, June 20, 2023

7:00 AM – 8:00 AM EDT

Registration and Continental Breakfast

7:30 AM – 9:00 AM EDT

Continental Breakfast & Exhibits

8:00 AM – 8:50 AM EDT

NOT23SS01. Mission-Critical: Elevating the Role of the Nonprofit Finance Leader Sponsored by Sage Intacct, Inc.

Natalie Anderson

- Sr. Nonprofit Industry Marketing Manager | Sage Intacct, Inc.

Your role as a nonprofit finance leader has changed. No longer the head accountant, your position as a data-driven strategist has become critical to your mission. But to drive your mission forward, you need fact-based data analytics to provide lines of sight across the organization and enable you to make informed decisions in real time. Join us for this session as we discuss the changing role of nonprofit finance leadership, share best practices for delivering data-driven strategies that enable mission-critical decision-making, and tell the success stories of CFOs who use data-driven strategies to advance their mission. SPONSORED BY SAGE

Learning Objectives:

Recognize key challenges and pain points from your peers
Identify desired changes in the role of the nonprofit finance leader
Determine best practices for delivering data driven strategies
Indicate how successful nonprofit CFOs are using data-driven strategies to advance their mission

8:00 AM – 8:50 AM EDT

NOT23SS02. The Art of Charts: Choosing the Right Visualization To Tell Your Story: Sponsored by Your Part-Time Controller, LLC

Edwin Harvey

- Manager | Your Part-Time Controller, LLC

William Schwab

- Data Visualization Manager | Your Part-Time Controller, LLC

You are probably familiar with the phrase, “A picture is worth a thousand words.” Do you have data but struggle with how best to depict the story the data is telling? Join us for this glimpse into the power of data visualization, during which we will share tips, techniques, and examples of effective storytelling graphics. Additionally, we will discuss the general best practices for graphic design in the context of data visualization.

Learning Objectives:

Recognize core concepts and essential elements that contribute to effective data visualization and storytelling graphics.
Distinguish between different types of commonly used charts.
Recognize which chart types to select based on the data and the story that needs to be told.
Distinguish data visualization storytelling through case study examples.

8:00 AM – 8:50 AM EDT

NOT23SS03. Charitable Fundraising Compliance - Navigating the Changing Landscape Sponsored by Perlman & Perlman, LLP

Tracy Boak

- Attorney/Partner | Perlman & Perlman, LLP

Forty-three states and the District of Columbia regulate the solicitation of charitable donations. The registration requirements vary widely from one state to the next and regulators within a state often interpret the law differently. As such, the regulations are a moving target that must be closely monitored. Navigating the maze of the registration and reporting requirements is often a daunting experience for nonprofits and their fundraisers and cause-marketing partners. In this session participants will be provided a road map including vital information about the registration, reporting and disclosure obligations under the various states’ solicitation laws.

Learning Objectives:

Identify Charitable Fundraising Requirements
Recognize Compliance with State Registration Obligations

9:05 AM – 10:05 AM EDT

NOT2301. Welcome and Opening Keynote Presentation: Connectable: How to Move Multi-Generational Teams From Isolated to All In

Ryan Jenkins

- WSJ Bestselling Author & Speaker | RyanJenkins.com

Connection is the workplace currency of the future. This session will teach you how to harness better human connection for improved communication and collaboration across generations. Remote work, advancing technology, and an always-on work culture are fracturing our relationships resulting in deep disconnection...especially across generations. Feelings of isolation and disconnection among employees are on the rise and contribute to a real and growing team challenges. You’ll learn how addressing the issues―and finding practical, effective solutions―can transform an isolated cross-generational workforce to one that’s happier, more engaged, and more productive in their efforts. Combining a decade of generational consulting and firsthand workplace connection research, Ryan Jenkins distills everything you need, showing you what’s causing today’s disconnection and how you can increase connection to boost belonging, engagement, retention, and performance with employees at every level (and whether their in-person or remote).

Learning Objectives:

Distinguish the new science and the significance of connection.
Identify strategies that are proven and actionable to cultivate stronger cross-generational connections.
Analyze the research and examples of individuals fostering better multi-generational connections at work.
Identify workers in need of connection and how to deliver it for them.
Determine techniques to create connected, driven and high-performing teams.

10:35 AM – 12:15 PM EDT

NOT2302. GAAP Update

Christine Botosan

- Board Member | Financial Accounting Standards Board

Jeffrey Mechanick

- Assistant Director | Financial Accounting Standards Board

Jeffrey Gabello

- Supervising Project Manager | Financial Accounting Standards Board

In this session, we'll update you on developments in GAAP that are noteworthy for NFPs. We'll discuss new Accounting Standards Updates (ASUs), key implementation issues on recent standards and other current financial reporting issues, and select projects in the FASB's pipeline. We'll focus especially on: changes to the FASB's Technical and Research agendas since last year's conference; Leases, including new guidance on Common Control Arrangements; Credit Losses; Reference Rate Reform; and the current projects on Crypto Assets and Software Costs. Please be sure to bring your questions!

Learning Objectives:

Identify the requirements of key new ASUs affecting NFPs
Determine and discuss, at a general level, some key areas of judgment in implementing recent standards on Leases and Credit Losses
Distinguish between those assets that are subject to the new Credit Losses guidance and those that are not
Analyze, at a general level, recent changes to the FASB's agenda and the current status of noteworthy current FASB projects, especially on Crypto Assets and Software Costs

10:35 AM – 12:15 PM EDT

NOT2303. 2023 View of the IRS, the Treasury and the Hill

Elizabeth Bell

- Attorney, Tax Counsel | U.S.Ways and Means Committee, U.S. House of Representatives

Lynne Camillo

- Deputy Associate Chief Counsel (EEE), Exempt Organizations and Employment Taxes, Internal Revenue Service. | IRS

Rachel Levy

- Associate Chief Counsel, Employee Benefits, Exempt Organizations, and Employment Taxes at IRS, Office of Chief Counsel | IRS, Office of Chief Counsel

Meghan Biss

- Of Counsel | Caplin & Drysdale, Chartered

Alexander Reid

- Partner | BakerHostetler LLP

Ann Cammack

- Attorney, Tax Counsel | US Senate Finance Committee, Majority Staff

A panel of experts will discuss emerging issues affecting exempt organizations, including the latest legislative initiatives, regulatory tax developments, and EO-related guidance projects.

Learning Objectives:

Identify recent EO-related developments from the IRS and Treasury
Analyze how updates to legislative and regulatory guidance will impact tax-exempt organizations
Distinguish the prospects of tax reform for nonprofits
Identify legislative initiatives and current activity in Congress

12:15 PM – 1:30 PM EDT

Networking Lunch (onsite)

1:30 PM – 2:45 PM EDT

NOT2304. Common Errors in NFP Financial Statements... And How to Avoid Them

Ksenia Popke

- Partner | Eide Bailly LLP

Jennifer Casacchia

- Director, Not-for-Profit and Higher Education Practices | SIKICH LLP

Learn how, with a little extra planning and preparation, you can avoid common errors that not-for-profits make in their financial statements. In this session, we will explore some of the most common, material errors encountered in not-for-profit financial statements and what you can do to avoid those common errors.

Learning Objectives:

Identify the most common errors found in not-for-profit financial statements.
Determine the impact errors could have on not-for-profit financial statements.
Analyze best practices to avoid common errors.

1:30 PM – 2:45 PM EDT

NOT2305. Single Audit Update

Kim McCormick

- Partner, Audit Services | Grant Thornton

Mary Foelster

- Senior Director, Governmental Auditing and Accounting | AICPA

Lindsey Oakley

- Partner | FORVIS

Single audits continue to be a hot topic for not-for-profits. Federal funding subject to single audit continues at historic levels and, while winding down, COVID-19 funding continues to be subject to audit for many entities. This session will cover the following important topics:

Learning Objectives:

Recognize Key Information in the 2023 OMB Compliance Supplement
Recall how to access GAQC/AICPA Resources
Determine Federal funding nuances and implications
Identify Single Audit updates and reminders
Recognize Key Information in the 2023 OMB Compliance Supplement

1:30 PM – 2:45 PM EDT

NOT2306. Deploying 501(c)(4) to Maximize Impact

Richard Locastro

- Partner, Director Non-Profit Tax | GRF CPAs & Advisors

Lauren Haverlock

- Partner | Moss Adams

Diara Holmes

- Partner | Loeb & Loeb LLP

501(c)(4) organizations are being deployed in more creative and impactful ways. From political organizations to charitable giving vehicles, a 501(c)(4) allows for flexibility in operations and structure. In this session, we'll dive into the 501(c)(4) world to learn more about the rules, requirements, opportunities and limitations of this type of tax exemption

Learning Objectives:

Distinguish the characteristics of 501(c)(4) organizations, including current laws, regulations, guidance and court cases applicable to the tax exemption
Determine the process for establishing and maintaining tax exemption under 501(c)(4)
Analyze gift and estate tax implications of contributions of property and cash to a 501(c)(4) organization
Compare historic uses of the 501(c)(4) tax exemption to recent uses in philanthropy

1:30 PM – 2:45 PM EDT

NOT2308. Once Upon a Time - Telling Your Financial Story

Christina Karahalios

- Chief Financial and Operating Officer | Museum of the Moving Image

Paul Chobanian

- Vice President of Finance | Plan International USA

Carolyn Mollen

- Vice President, Finance & Administration | Resources for the Future

This session will focus on effective ways a not-for-profit organization can tell its story to all constituents. It will address how to communicate mission-related and financial information to board members and other lay people and educate stakeholders on how to read financial statements. It will also discuss how to use recent changes in standards and disclosures to your organization’s advantage.

Learning Objectives:

Identify practices to present meaningful and easily understood decision-making information
Determine how to share organizational successes and challenges internally and externally
Identify methods to inform board members and others as to how to utilize and understand financial statements/information
Select various tools, opportunities, and techniques you can utilize to tell your financial story

1:30 PM – 2:45 PM EDT

NOT23SS04. Investment Panel – Managing an Endowment Through Potential Recession, Inflationary Pressures, and Rising Interest Rate Environment Sponsored by Bank of America Merrill

Dimple Gosai

- Head of U.S. Environmental, Social and Governance (ESG) Research | Bank of America Global Research

Natalie De La Calle-Tremblay

- Alternative Investments Specialist | Merrill, a Bank of America Company

John Amirante

- Senior Portfolio Advisor - Senior Financial Advisor | Merrill Lynch Wealth Management - The Beacon Group

Jeff Schulze

- Director, Head of Economic and Market Strategy | ClearBridge Investments

The last year has been challenging for all investment committees and CFOs – 2022 brought us one of the first years on record in recent history where both the equity and fixed income markets were down double digits. Spending policies and many investment policies have been called into question – leading to indecision and lagging returns even as markets begin to rebound. Join us for an in-depth look as we examine the underlying current fundamentals of the economy and the markets and how to best position to the entities portfolio to take advantage of the opportunities in the market going forward. Our Panel will examine – ESG, Alternative Assets, sectors of the global economy to outperform and international markets.

Learning Objectives:

Compare current fundamentals of the economy and the markets.
Determine how to best position investments to take advantage of the opportunities in the market.
Analyze ESG, Alternative Assets, sectors of the global economy to outperform and international markets for investment strategies.
Determine the role Alternative Assets, including Private Credit, Hedge Funds, and Private Equity, can play in the overall performance and risk management of an endowment portfolio.

3:15 PM – 4:05 PM EDT

NOT2309. Audit Technology Tools: Examples and Practical Guidance

Samantha Bowling

- Partner | Garbelman Winslow CPAs

Melissa Harman

- Partner and Higher Education National Practice Leader | Moss Adams

Kris Ray

- NFP Industry Technical Leader | Plante Moran, PLLC

Learn about new technology tools for auditing not-for-profit entities. In this session, audit leaders will discuss the new and upcoming technology tools they see having an impact on increasing audit efficiency and effectivness. Also, learn about implementation issues and lessons learned from rolling out new technology in an audit practice.

Learning Objectives:

Recognize new technology tools available for auditors.
Identify common challenges when implementing new tools in an audit practice.

3:15 PM – 4:05 PM EDT

NOT2310. The SEFA - How to Get it Right

Sadie Mayle

- Senior Manager | Plante Moran

Rachel Stushek

- Professional Practice Director | Grant Thornton LLP

Ensuring that the SEFA is correct is a crucial part of complying with the Uniform Guidance audit requirements, including determining whether a single audit is required or not and determining which programs need to be audited. Changes to existing federal program funding and new funding opportunities that emerged as a result of COVID-19 introduced challenges to getting this right that still exist. This session will cover a short refresher on the basics, as well as additional necessary considerations resulting from expanded federal funding, that organizations receiving federal funding and auditors should be aware of related to SEFA reporting.

Learning Objectives:

Determine the requirements of SEFA reporting, including recognizing those stemming from expanded federal funding
Apply knowledge gained to auditing the SEFA
Distinguish common SEFA issues identified during Uniform Guidance audits
Identify tools and resources available to assist in confirming that the SEFA is right

3:15 PM – 4:05 PM EDT

NOT2311. Tax Dimensions for Nonprofit Revenue (Part VIII)

Lisa Heller

- Senior Director | RSM US LLP

Tracy Paglia

- Partner | Moss Adams

Reporting the revenue of a tax exempt organization on Part VIII is a complexed and nuanced evaluation that goes beyond natural categories. Part VIII provides valuable information to the IRS regarding related or program activities, taxable income and charitable solicitations. We will dig into this Part of Form 990 and affected schedules, discuss common questions, issues and misconceptions including reporting government grants, dues vs. contributions, special events and gaming and the dreaded "other" revenue.

Learning Objectives:

Distinguish classification of various revenue types, between related purpose, excluded from UBI, and UBI
Determine which types of revenue are reportable in which places on the 990 return
Identify various reportable revenue types for tax reporting

3:15 PM – 4:05 PM EDT

NOT2312. Shifting the Paradigm in DEI: Moving from Words to Action

Shannon Bartlett

- Chief Diversity, Equity & Inclusion Officer | National Geographic Society

Shane Lloyd

- Head of Diversity, Inclusion and Belonging | Baker Tilly US, LLP

In this session, experienced DEI professionals Shane Lloyd (Baker Tilly) and Shannon P. Bartlett (National Geographic Society) will touch upon the ways in which individual actions intersect with systemic inequities. Participants will understand the role they play as individuals in advancing diversity, equity and inclusion within their organizations as well as the importance of tackling inequitable systems to effectively move DEI from values espoused to creating equitable and inclusive institutions for all.

Learning Objectives:

Recognize the role individuals play in advancing DEI
Identify the importance of addressing systemic barriers to DEI

3:15 PM – 4:05 PM EDT

NOT2313. Navigating Uncertainty and Disruption

Brian Slusarz

- Senior Director, Accounting & Reporting | World Vision, Inc.

Carl Mayes

- Senior Director - Audit and Accounting Quality | AICPA & CIMA

The current environment is ripe with economic uncertainty. From mass layoffs and bank failures to rapid fluctuations in investment valuations to inflation at levels not seen in decades, organizations have a lot to navigate. Join Carl Mayes, Senior Director – A&A Quality at the AICPA and Brian Slusarz, Senior Director of Accounting and Reporting for World Vision for a discussion of what these trends mean for not-for-profits.

Learning Objectives:

Identify trends in the environment that could impact not-for-profits
Recognize the most likely impacts and how NFPs and their auditors can prepare

4:20 PM – 5:35 PM EDT

NOT2314. Importance of Functional Expense Reporting

Jennifer Casacchia

- Director, Not-for-Profit and Higher Education Practices | SIKICH LLP

J. Calvin Marks

- Senior Manager | Johnson Lambert LLP

If you've ever struggled with what expenses go into what classification of functional expense, you're not alone. This session will breakdown the nuances of each functional expense category, discuss best practices for financial statement reporting, and allow you to walk away with a clearer understanding of functional expense reporting.

Learning Objectives:

Identify best practices for allocation of expenses in the statement of functional expense.
Recall the details and nuances of Program, MG&A and Fundraising expense activity.

4:20 PM – 5:35 PM EDT

NOT2315. Auditing Internal Controls Over UG Compliance

Thomas Sneeringer

- Partner | RSM US LLP

Lindsey Oakley

- Partner | FORVIS

Auditors are required to tests control over compliance in a single audit. However, peer and quality control reviwers have noted this area as problematic for many auditors. This session will take a direct approach and cover the requirements of Uniform Guidance to perform tests of controls over applicable requirements and illustrate typical approaches taken over the most applicable compliance requirements and discuss best practices for adequate design and documentation.

Learning Objectives:

Identify key controls over applicable compliance requirements in a single audit.
Determine appropriate approaches to perform applicable tests of controls over compliance in a single audit.

4:20 PM – 5:35 PM EDT

NOT2316. Charitable Giving: Special Cases

Elinor Ramey

- Partner | Steptoe & Johnson LLP

Jane Searing

- Managing Director | Deloitte Tax LLP, Global Center for Excellence in Philanthropy

Creating new nonprofits, pubic charities, PFs, DAFs

Learning Objectives:

Appreciate the tax import of knowing the type of property being contributed, the type of exempt organization, and donor substantiation requirements when individuals are making charitable contributions
Gain additional insights into current trends in charitable giving and how donors are using different vehicles to achieve charitable and mission driven goals.

4:20 PM – 5:35 PM EDT

NOT2317. Automation and AI

Alyssa Cerretti

- Accounting Manager | World Vision

Brian Slusarz

- Senior Director, Accounting & Reporting | World Vision, Inc.

This session will discuss how nonprofit accounting teams can leverage these tools to improve efficiency.

Learning Objectives:

Distinguish benefits and industry trends related to automation and AI
Determine how a nonprofit accounting team can implement these tools (case studies)
Compare some of the risks and pitfalls of automation
Use the concept of a Center of Excellence to implement and sustain these tools
Identify the importance of governance and risk mitigation.

4:20 PM – 5:35 PM EDT

NOT2318. ESG Reporting - What's All The Fuss?

Wayne Frederick

- President | Howard University

Tawana Thomas-Johnson

- SVP and Chief Diversity Officer | American Cancer Society

Jeffrey Mechanick

- Assistant Director | Financial Accounting Standards Board

John Alfonso

- Partner and Not-for-Profit & Education Industry Leader | CohnReznick LLP

The movement toward ESG reporting continues to gain momentum in the U.S. and even more so internationally. While much of the focus in the U.S. has thus far been on public companies, especially following the SEC's proposed climate-related disclosures, NFPs (and their auditors/stakeholders) increasingly are expressing interest in an area that for many involves mission and impact as much as externalities. This session would introduce the audience to this area, some of its terminology, and its relationship to traditional financial reporting; provide an update on developments in the U.S. and abroad; and highlight some best practices/ proactive reporting already being done within the NFP sector.

Learning Objectives:

Identify, at a general level, the scope of ESG reporting, including its relationship to financial reporting.
Recognize how ESG reporting relates to communication about an NFP's mission, vision, and organizational impact.
Indicate, at a general level, the range of ESG reporting currently being done in the NFP sector and some best practices.

5:35 PM – 7:00 PM EDT

Welcome Reception

Wednesday, June 21, 2023

7:30 AM – 9:00 AM EDT

Continental Breakfast & Exhibits

8:00 AM – 8:50 AM EDT

NOT23SS05. 65% Failure Rate...How to Beat the Odds for New Software Sponsored by JMT Consulting

Jacqueline Tiso

- CEO | JMT Consulting Group Inc.

This session will help you understand how to beat the odds and implement financial software that supports a modern office, eliminates manual workarounds, and ends the paper chase.

Learning Objectives:

Recognize how to ensure users are invested in the project outcome
Determine how to objectively select a platform that is cloud-based and supports a virtual workforce
Identify key criteria for a smooth implementation process that sets the stage for success.

8:00 AM – 8:50 AM EDT

NOT23SS06. Data-Driven Reporting as a Lever for Digital Transformation Sponsored Solution Session CLA

Matthew Lang

- Principal/Digital | CLA

Ben Aase

- Principal | CliftonLarsonAllen LLP

Digital transformation is about using integrated digital tools to share information and workloads among diverse stakeholders across your organization. It involves implementing new technology, improving existing technologies, and coordinating those technologies to accomplish business objectives. Data is at the core — collecting it, integrating it, and analyzing it.

Learning Objectives:

Identify digital trends in the nonprofit industry.
Recognize how board-specific reporting can be a catalyst to digital transformation.
Distinguish data centralization and centralized data repositories.

8:00 AM – 8:50 AM EDT

NOT23SS07. Advancing Change Sponsored by Marcum, LLP

Shirley Milton

- Director, Managed Services, Human Resources | Marcum, LLP

Jackie Black

- Senior Manager, Managed Services, Accounting | Marcum LLP

Dennis Shine

- Partner-in-Charge, Managed Services, Accounting | Marcum, LLP

Whether your organization is experiencing rapid growth, you’ve inherited a mess, or you simply know there’s got to be a better way, advancing change can be overwhelming. This session will provide department heads and organizational leaders with key considerations, top tips, and some quick wins for change management.

Learning Objectives:

Identify opportunities to leveraging technology and other resources
Determine tactics to gain buy-in from other stakeholders
Recognize common obstacles to change

8:00 AM – 8:50 AM EDT

NOT23SS08. Overcoming Growth Challenges with Innovative Strategies - Sponsored by Makosi

Wayne Kaplan

- Interim CFO | Makosi

Ricardo Trujillo

- Partner | GRF CPAs and Advisors

Every firm has the goal to grow their practice and be a trusted partner that their clients can rely on. However, there are several factors that are impeding our ability to achieve this goal. In this session between GRF Audit Partner, Ricardo Trujillo and Makosi CFO, Wayne Kaplan, you will hear about how the Not-for-Profit practice challenges became opportunities for innovation and growth.

Learning Objectives:

Determine how new regulations, technology, and staffing shortages presented challenges to the firm
Identify opportunities to apply private company audit practices
Select solutions you need to consider for scalable growth

9:05 AM – 10:20 AM EDT

NOT2319. Update from the Auditing Standards Board

Andrew Prather

- Shareholder | Clark Nuber P.S.

Pete Ugo

- Partner | Crowe LLP

This session will update attendees on the current activities of the Auditing Standards Board, including a discussion on the recently effectuated standards and how they will impact planned audit procedures and reporting practices.

Learning Objectives:

Identify the current activities of the Auditing Standards Board.
Determine how the new standards will impact current audit procedures and reporting practices.

9:05 AM – 10:20 AM EDT

NOT2320. The Ins and Outs of Major Program Determination

Rachel Flanders

- Principal | CliftonLarsonAllen LLP

Rachel Stushek

- Professional Practice Director | Grant Thornton LLP

This session is designed to provide a deep understanding of the many steps involved in major program determination (MPD) for a single audit. The success of the audit depends upon performing these steps accurately and in a specific order, thereby ensuring that the correct major programs have been chosen to be audited.

Learning Objectives:

Identify the correct steps to perform accurate major program determination.
Indicate risk in the major program determination process.
Recall the major program determination steps in the correct order.

9:05 AM – 10:20 AM EDT

NOT2321. Year in Review

Dave Moja

- CPA | Moja & Company

Brian Yacker

- Partner | Baker Tilly

Fast paced and conversational (and hopefully interactive) summary of the past 12 months in the nonprofit tax and legal worlds; focusing specifically on the latest updates regarding the Employee Retention Credit for nonprofits, unrelated business income / 990-T, communicating with the IRS, what is being seem (and not seen) related to IRS audits, what is going on with the States exercising oversight over nonprofits, continued scrutiny of insider transactions, and much more.

Learning Objectives:

Recall a summary of the current developments in the nonprofit tax/legal world
Recognize the Internal Revenue Service’s continued areas of focus within the nonprofit tax/legal world
Identify answers to your pressing nonprofit tax/legal questions

9:05 AM – 10:20 AM EDT

NOT2322. 5-3/4 Top Challenges Facing NFPs Today

Ted Phillips

- CFO | American Kennel Club

Divya Gadre

- Audit Partner | BDO

Amy West

- Executive Vice President & Chief Financial Officer | AHRC New York City

This interactive session not only underscores the many issues facing not-for-profit organizations today but offers good practices to change these challenges into opportunities. Please join three financial professionals for this very insightful discussion.

Learning Objectives:

Identify the top matters impacting not-for-profit organizations today
Calculate strategies to address these challenges
Apply best practices with your colleagues

9:05 AM – 10:20 AM EDT

NOT2323. Business and Tax Implications of a Remote and Hybrid Workforce

Mo Bell-Jacobs

- Senior Manager, State and Local Tax | RSM US LLP - Washington National Tax

Deborah Walker

- National Director, Compensation and Benefits | Cherry Bekaert LLP

During the COVID-19 pandemic, remote work has become common for many companies. What once was a relatively small percentage of remote workers has drastically increased.

Learning Objectives:

Identify the changing workforce dynamic in a post-pandemic environment.
Compare the key areas affected by workforce and workplace change.
Determine remote work's potential to affect business operations and federal and state taxation.

10:50 AM – 12:05 PM EDT

NOT2324. Not-for-Profit Industry Developments for 2023

Ksenia Popke

- Partner | Eide Bailly LLP

Kelly Frank

- Partner | Crowe, LLP

J. Calvin Marks

- Senior Manager | Johnson Lambert LLP

In this session the speakers will discuss current industry, regulatory and economic developments affecting not for profit organizations that will be important for both auditors and preparers for the upcoming year. We will discuss the latest not for profit accounting and auditing trends and developments and those that are on the horizon.

Learning Objectives:

Identify industry, regulatory, and economic developments affecting Not-for-Profit Organizations.
Identify industry, regulatory, and economic developments affecting Not-for-Profit Organizations.

10:50 AM – 12:05 PM EDT

NOT2325. Sampling in a UG Audit

Rachel Flanders

- Principal | CliftonLarsonAllen LLP

Kim McCormick

- Partner, Audit Services | Grant Thornton

Sampling in a single audit can be complicated. This session will offer a review of single audit testing basics, which often includes sampling. Examples will demonstrate how the mixture of facts, decisions and auditor judgments all impact sampling.

Learning Objectives:

Determine sampling considerations in a single audit
Identify key underlying concepts to select a proper sample

10:50 AM – 12:05 PM EDT

NOT2326. Special K: K-1, 2, 3 …What do These Mean to Me?

Brittain Cunningham

- Director - International Tax | Moss Adams, LLP

Tracy Paglia

- Partner | Moss Adams

This session will take the mystery out of the new Schedules K-2 and K-3. The presenters will cover the new schedules and provide context on how this impacts nonprofit partners. K-1s! K-2s! K-3s! What do they all mean???

Learning Objectives:

Analyze the purpose of Schedules K-2 & K-3.
Differentiate each Part of the K-2 & K-3 and the information provided in each.
Determine how nonprofit partners should use the information provided on a K-3.

10:50 AM – 12:05 PM EDT

NOT2327. Think ESG

Nic Nunn-Faron

- Senior Manager, Community Resilience & Sustainability | BDO USA, LLP

Erika Karp

- Chief Impact Officer | Pathstone

In the for-profit world (and particularly among SEC regulated companies), Environmental, Social and Governance (ESG) planning has largely focused on compliance and risk mitigation. Given the mission-based orientation of nonprofits, ESG can be approached as an opportunity to grow their mission and impact in a rapidly changing world. The integration of environmental and social sustainability principles into nonprofits’ operational lifecycles will be key to ensuring donor retention and programmatic success for years to come. As nonprofit executives examine the industry landscape and their organization’s opportunity to thrive in the future, sustainability must become a key focus in all aspects of management. From attuning to evolving stakeholder priorities, to ensuring continued access to donations and capital, and amplifying the impact of their mission, the integration of ESG principles into all facets of the nonprofit lifecycle will contribute to continued success.

Learning Objectives:

Analyze ESG concepts
Determine how ESG principles can help nonprofits thrive

10:50 AM – 12:05 PM EDT

NOT2328. UPMIFA Revisited

David Hanson

- Chief Financial and Operating Officer | The Branson School

Thomas Sneeringer

- Partner | RSM US LLP

The Uniform Prudent Management of Institutional Funds Act (UPMIFA) is the law of the land in most jurisdictions in the United States as it relates to organizations that are required to administer donor-restricted endowment funds. Even though the law has been in place for more than a decade, many not-for-profit organizations are struggling with both the legal and accounting aspects of these UPMIFA rules. Please join us for this session as we break down the core principles of prudent management of endowment funds including investing and spending strategies. We will also cover specific requirements for presentation, disclosure, and net asset classification as required by U.S. GAAP.

Learning Objectives:

Analyze the core principles of UPMIFA and related U.S. GAAP as it applies to their donor-restricted endowment funds
Determine appropriate investing and spending policies that are UPMIFA compliance and design adequate controls and policies in response

12:05 PM – 1:20 PM EDT

Networking Lunch (onsite)

1:20 PM – 2:35 PM EDT

NOT2329. Leases (Topic 842) - Part 1

Paul Preziotti

- Partner | Johnson Lambert LLP

Richard Cole

- Partner / Nonprofit and Education | FORVIS

This session will provide an overview of the new lease standard. It is an opportunity for those that have not yet implemented to understand the basics and also an opportunity for those that have implemented but want to learn more.

Learning Objectives:

Identify accounting presentation requirements under ASC 842.
Recall the financial statement disclosure requirements under ASC 842.
Recognize lessons learned from various implementations of ASC 842, including best practices.

1:20 PM – 2:35 PM EDT

NOT2330. The OMB Compliance Supplement - What is it and What's New?

Craig Wories

- Partner | RSM US LLP

Sadie Mayle

- Senior Manager | Plante Moran

The annual OMB Compliance Supplement serves as the auditor's guide to plan and execute their single audits in accordance with Uniform Guidance. For auditees, the Supplement can be an important resource in the toolkit for administering federal awards and can offer insight into what to expect from a Uniform Guidance audit. Don't get caught referencing an outdated version though! This session will provide an overview of the Supplement and explore updates to the 2023 Compliance Supplement that will be important for auditees and auditors alike to understand. Areas of focus will include the 14 compliance requirements, how the testing of internal controls over compliance fits into the audit, and other key audit advisories and guidance included in the Supplement.

Learning Objectives:

Distinguish the requirements of the Compliance Supplement as it applies to auditors and auditees
Identify what the latest OMB Compliance Supplement includes
Distinguish the requirements of the Compliance Supplement as it applies to auditors and auditees
Identify what the latest OMB Compliance Supplement includes

1:20 PM – 2:35 PM EDT

NOT2331. Section 509(a) Algebra - Digging into Public Support Calculation

Israel Tannenbaum

- Partner | Withum

Preston Quesenberry

- Managing Director | KPMG

Get your graphing calculators ready, because we're doing some math! We will be looking into the multifaceted 509(a)(1) and 501(a)(2) public support tests, going line by line to decipher the proper way to calculate public support. The session will also focus on the different alternatives for a public charity to consider to protect its public charity status when its public support declines, including unusual grants, the 10% facts and circumstances test, and classification as another type of public charity.

Learning Objectives:

Differentiate which income items go into the numerator and denominator of the public support computation and which are excluded altogether.
Determine different alternatives to protect public support status.
Identify common missteps that can occur.

1:20 PM – 2:35 PM EDT

NOT2332. Talent Time Machine - The Future of Finance

Janice Stucke

- CFO | Achieving the Dream

Barry Payne

- Director - External Relations, Management Accounting | AICPA & CIMA

Developing a team to adapt to new ways of working and digital transformation can be challenging. In this interactive session join Barry Payne and Janice Stucke to answer these important questions - How to redefine skillsets to remain relevant in the midst of transformation? What are the critical competencies that are important for your finance function? And how do you start to create a development plan to meet these challenges? And how do you bring people with you? Attend this session and learn how to develop structured approach to develop great talent to support and lead your organization’s to do even better things!

Learning Objectives:

Identify the key issues facing AICPA & CIMA’s Future of Finance Group.
Analyze what this means for new mindsets and skill sets.
Identify and discuss real world examples of redefining skill sets.
Analyze and explore some of the challenges and how to overcome those challenges.
Apply best practices to develop a structured approach to upskilling your talent.

1:20 PM – 2:35 PM EDT

NOT2333. The Board Room: The Sequel

David Rottkamp

- Partner, Nonprofit Practice Leader | GRASSI & CO.

George Muñoz

- President | Muñoz Group

A follow-up to the session from last year’s session; include Board member training; include Role of the Audit Committee (From Board, Auditor and CFO Perspective); Nonprofit Boards/Audit Committees – duties of board members, addressing AC committee turnover, etc.

Learning Objectives:

Determine sound and effective board governance responsibilities
Distinguish how to evaluate and grow your board membership to align with the nonprofit's strategic vision
Determine how to move your board from operations to strategy

2:50 PM – 4:05 PM EDT

NOT2334. Leases (Topic 842) - Part 2

Paul Preziotti

- Partner | Johnson Lambert LLP

Richard Cole

- Partner / Nonprofit and Education | FORVIS

This session goes deeper than the first session and will provide an analysis of how to calculate the initial right of use asset and liability as well as understand the amortization tables and how to record the related annual journal entries.

Learning Objectives:

Recognize case studies related to ASC 842
Identify requirements for initial and ongoing calculations and journal entries related to ASC 842
Indicate an understanding of disclosure requirements, including reviewing sample disclosures, for ASC 842

2:50 PM – 4:05 PM EDT

NOT2335. Single Audit Quality: An Auditor's Focus

Craig Wories

- Partner | RSM US LLP

Troy Rector

- Shareholder | Clark Nuber P.S.

Come explore what the historical review of single audits and current federal agency quality control reviews tell us about what to look for in ensuring single audit quality.

Learning Objectives:

Identify common findings in reviews of single audits by federal agencies and peer reviewers
Apply the OMB single audit requirements to design a quality audit approach
Determine single audit best practices to avoid common pitfalls
Analyze effective and efficient single audit documentation

2:50 PM – 4:05 PM EDT

NOT2336. Show me the Money: Form 990 Comp Reporting

Israel Tannenbaum

- Partner | Withum

Brian Yacker

- Partner | Baker Tilly

This session will discuss mapping a W-2 and looking at how the W-2 connects to Schedule J, fringe benefits and compensation. Are fringe benefits taxable vs. nontaxable? What is an Accountable Plan. 4960?

Learning Objectives:

Determine the available legal guidance regarding the payment of reasonable compensation by a nonprofit to its insiders
Distinguish the Internal Revenue Service’s current efforts to audit/examine nonprofits to ensure the payment of reasonable compensation to a nonprofit’s insiders
Determine how insider compensation is reported on the Form 990 /Form 990-PF

2:50 PM – 4:05 PM EDT

NOT2337. The Art of Listening

Kimberly Vitolo

- Chief Operating Officer | WHITE RIBBON ALLIANCE

Robby Vanrijkel

- Partner - Nonprofit & Education | BDO

Everyone agrees that good communication is helpful, however is it more beneficial than effective listening? We often choose to hear what is communicated over listening and understanding. The session will discuss how to build meaningful client relationships and maximize impact.

Learning Objectives:

Identify key communication skills to ensure a successful engagement
Recognize common pitfalls to avoid
Identify key considerations to be an effective advisor

2:50 PM – 4:05 PM EDT

NOT2338. Credits are Not Just for For-Profits

Nicholas Mowbray

- Counsel | BakerHostetler

Karen Gries

- Director | Baker Tilly US LLP

Nonprofits have largely been left out of the credit world, but we're increasingly seeing new credits legislated that provide big benefits to nonprofits. The Inflation Reduction Act of 2022 (IRA) opened up new avenues to monetize credits. One of these avenues is a new “direct pay” election that allows tax-exempt organizations to elect to treat certain renewable energy tax credits as refundable payments of tax. While nonprofits have had the ability to participate in creative structures to benefit from other types of credits, the renewable energy incentives within the IRA are truly a game changer when addressing a project’s capital stack. This interactive session will provide attendees with a deeper understanding of the renewable energy incentives under the IRA and the types of projects that generate the renewable energy incentives . The session will also provide an overview of the intersect of how the IRA may advance organizational environmental, social and governance (ESG) strategies. Come with your questions and experiences as we unpack current opportunities. We will walk through some common and new credits to help understand how they impact nonprofits.

Learning Objectives:

Recognize the tax credit opportunities available to tax-exempt organizations
Identify potential capital projects that may benefit for tax credits
Indicate the intersect between the Inflation Reduction Act and organizational environmental, social and governance (ESG) strategies

4:20 PM – 5:35 PM EDT

NOT2339. Ask the A&A Experts

Stephanie Otero

- Associate Director NFP | AICPA & CIMA

Krista Pankop

- Partner | Baker Tilly US, LLP

Jennifer Hoffman

- National Not-for-Profit Audit Leader | Grant Thornton LLP

Pete Ugo

- Partner | Crowe LLP

Ask questions to the A&A experts! Our experts will address any questions you may have and discuss technical issues that have surfaced over the past few years.

Learning Objectives:

Apply lessons learned from issues faced by others in practice.
Determine best practices and practical applications in applying new standards.

4:20 PM – 5:35 PM EDT

NOT2340. Single Audit Lightning Round

Amanda Ward

- Partner | Plante Moran

Mary Foelster

- Senior Director, Governmental Auditing and Accounting | AICPA

Lindsey Oakley

- Partner | FORVIS

Performing a single audit can present unique challenges that are complex, infrequent and/or subject to significant auditor judgment. This session will provide essential information as you plan your 2023 single audits and will address commonly asked questions received by the GAQC, from members. The session will provide participants with a fast-paced lightning round discussion, including best practices, practical applications and lessons learned.

Learning Objectives:

Identify common single audit questions and determine answers based on guidance available
Apply lessons learned, best practices and practical applications in performing a single audit

4:20 PM – 5:35 PM EDT

NOT2341. Ask the Tax Experts

Christopher Anderson

- Shareholder | Maloney + Novotny LLC

Richard Locastro

- Partner, Director Non-Profit Tax | GRF CPAs & Advisors

Brian Yacker

- Partner | Baker Tilly

Lauren Haverlock

- Partner | Moss Adams

Has a particular Form 990 issue been bothering you? Bring it to our attention and allow our experts to weigh in on the matter. During this session, the panel will answer questions from previous sessions that were not addressed as well as new questions from participants.

Learning Objectives:

Identify tax compliance issues.
Analyze areas that are not fully addressed in the various Forms' instructions.

4:20 PM – 5:35 PM EDT

NOT2342. The CFOH Game Show

Nancy Marc-Thrasybule

- Associate Technical Director, Management Accounting | Association

Joseph Arnone

- Partner | CohnReznick LLP

Ted Phillips

- CFO | American Kennel Club

Divya Gadre

- Audit Partner | BDO

Amy West

- Executive Vice President & Chief Financial Officer | AHRC New York City

During this interactive and lively session, participants will be asked to respond to challenging not-for-profit finance and accounting related trivia questions focused on and derived from the multitude of concepts discussed throughout the 2023 NFP Industry Conference.

Learning Objectives:

Identify topics introduced during the conference
Determine the accounting and reporting treatment for various financial transactions
Identify good practices to address the myriad of challenges facing not-for-profit organizations today

4:20 PM – 5:35 PM EDT

NOT2343. NFPs and Crypto

Sean Prince

- Partner, National Office | Crowe LLP

This session will provide an introduction to crypto assets and blockchain technology, including a discussion about the risks NFPs should be aware of. It will cover both financial reporting and tax considerations as well as a discussion about what NFPs need to consider when engaging with crypto.

Learning Objectives:

Distinguish what a crypto asset is and what a blockchain is
Identify key risks inherent in crypto assets and the underlying blockchain technology
Recall the financial reporting and tax considerations involved with crypto assets
Identify key items an NFP should consider when engaging with crypto assets

Monday, June 26, 2023

9:30 AM – 10:20 AM EDT

NOT2344. How to Make the Most of Your Audit? (ONLINE ONLY)

Joseph Arnone

- Partner | CohnReznick LLP

Ted Phillips

- CFO | American Kennel Club

How to build upon the struggles your organization encounters when preparing and going through an audit.

Learning Objectives:

Identify policies or procedures based on best practices.
Recognize the most common audit preparation struggles and how to avoid them.
Identify ways your auditors can help you any time of year.

9:30 AM – 10:20 AM EDT

NOT2345. Subrecipient, Contractor, Beneficiary… What Am I? (ONLINE ONLY)

Lindsey Kennimer

- Partner | Snow Garrett Williams

Yulia Murzaeva

- Managing Director | GHJ

Many nonprofit entities receive federal funding indirectly through pass-through entities, and at times, it is difficult to determine whether the recipient is a subrecipient, contractor, or beneficiary. The correct designation determines whether or not a single audit is required, as well as other reporting requirements. This session will cover the definitions of these three designations, related compliance requirements, and best practices to correctly identify and report them.

Learning Objectives:

Identify common characteristics of the three potential types of recipients: subrecipients, contractors, and beneficiaries
Determine the implications the recipient classification may have on the reporting and compliance requirements

9:30 AM – 10:20 AM EDT

NOT2346. State Regulators Panel (ONLINE ONLY)

Yael Fuchs

- Partner | Sedreddine & Whoriskey, LLP

Leslie Friedlander

- Assistant Attorney General | Texas Attorney General

Elizabeth Kim

- Supervising Deputy Attorney General | CA Department of Justice, Office of the Attorney General

Brian Yacker

- Partner | Baker Tilly

State Attorneys General are more often on the frontlines of guarding and protecting charitable assets. When the IRS might be silent on something, a state AG might take action. And more often, states are collaborating on initiatives. In this session, we'll hear more about the initiates and intentions of state AGs, and how practitioners should consider them when advising charitable orgs. Also -- how does each state define charitable?

Learning Objectives:

Differentiate how the States and the Internal Revenue Service are similar and not so similar, in regards to how governmental regulators exercise oversight of nonprofits
Analyze current areas of focus for various state regulators in regards to their oversight of nonprofits operating in their particular states
Determine answers to your questions regarding state regulation of nonprofits

9:30 AM – 10:20 AM EDT

NOT2347. We are Our People - Attracting and Retaining Talent (ONLINE ONLY)

Kelly Fisher

- Sr. Director | BDO

Panagiota Mahendru

- EVP & CFO | Low Income Investment Fund

In a virtually adapted, and often sought after, work environment, what is todays work culture telling us? Whether you are back to the office, hybrid, or fully remote, these decisions impact how we attract and retain talent. Your organization needs to be at a place where your people want to be, desire to grow, and feel appreciated, while still fulfilling your mission or business model. Lets discuss how to keep people engaged and become the place that is sought after by the talented candidates by touching upon true work/life balance, expectations, mental health/wellbeing, and some of the old habits that need to be broken.

Learning Objectives:

Identify to Attract Talent
Recognize how to Retain Talent

10:35 AM – 11:50 AM EDT

NOT2348. GIK: Presentation, Reporting, and Accounting Issues (ONLINE ONLY)

Alyssa Cerretti

- Accounting Manager | World Vision

Kris Ray

- NFP Industry Technical Leader | Plante Moran, PLLC

This session will dive into the complexities of accounting for and reporting on in-kind gifts (GIK): Lessons learned from implementation of FASB ASU 2020-07, complex issues of how to recognize GIK in the accounting records, and how GIK may impact a charities' charitable solicitations.

Learning Objectives:

Identify situations requiring in-kind contributions be reported.
Analyze in-kind contributions properly.
Determine the accounting treatment for in-kind contributions.
Analyze to ensure proper disclosures are included.

10:35 AM – 11:50 AM EDT

NOT2349. Let’s Perform a Program Specific Audit: Wait…. Can I Perform a Program Specific Audit? (ONLINE ONLY)

Amanda Ward

- Partner | Plante Moran

Erica Forhan

- Partner | Moss Adams LLP

This session will allow participants to gain an understanding of a program specific audit, including what it is, when it can be elected, and what are the requirements. The presenters will provide an overview of program specific audit requirements, compare and contrast the requirements against single audit requirements, and apply the guidance to case studies.

Learning Objectives:

Apply program specific audit requirements
Differentiate when a program specific audit can be elected instead of a single audit

10:35 AM – 11:50 AM EDT

NOT2350. International Intrigue: Foreign Reporting Issues for Form 990 (ONLINE ONLY)

Frances Olson

- Tax Senior Manager | Clark Nuber

Jennifer Harris

- Tax Shareholder | Clark Nuber

The are multiple areas on the Form 990 which highlight foreign activities for an organization, including trigger questions for potential additional international filings, including Forms 926 and 8865 (for foreign transfers), Form 5471 (foreign corporations), 5713 (International Boycott report), 8858 (foreign branch and disregarded entities), and foreign bank account (FBAR) filings. This session will walk participants through the ins and outs of the foreign compliance of Schedule F, including other sections of the Form 990, to consider for foreign activities. In addition, this session helps organizations and practitioners understand when US filings required and common compliance disclosures. This course will focus on foreign operations, grantmaking, employees/agents and discuss at a high-level other international issues organizations commonly face.

Learning Objectives:

Identify considerations for not-for-profits contemplating international expansion
Recognize US tax compliance requirements associated with foreign activities or investments
Identify the reporting threshold in Part I related to aggregate expenses or revenues with respect to Schedule F of Form 990

10:35 AM – 11:50 AM EDT

NOT2351. Ethics - With a Dash of Courage (ONLINE ONLY)

Jennifer Elder

- President, CEO/Owner | The Sustainable CFO

Knowing the right thing to do is easy but having the courage to do it is another story. An ethical dilemma is often faced by a party of one. This session will present examples of ethical dilemmas frequently faced in the workplace. We will analyze each dilemma using three ethical frameworks and Kidder's nine checkpoints for ethical decision-making. Finally, we will discuss steps to build individual courage and a culture of accountability.

Learning Objectives:

.-Identify the elements of courage
Recall Kidder's nine checkpoints for ethical decisions
Identify three ethical frameworks

12:20 PM – 1:10 PM EDT

NOT2352. CECL: Applying the New Credit Loss Model to NFPs (ONLINE ONLY)

Melissa Harman

- Partner and Higher Education National Practice Leader | Moss Adams

Jennifer Hoffman

- National Not-for-Profit Audit Leader | Grant Thornton LLP

The effective date of the Current Expected Credit Loss (CECL) FASB guidance has arrived. Join us for a session to discuss upcoming changes as a result of this standard, including considerations that nonprofit organizations should evaluate in adopting the new standard.

Learning Objectives:

Analyze changes that will occur as a result of upcoming CECL accounting standard updates.
Identify how upcoming CECL accounting standard updates may impact not-for-profit organizations.
Determine considerations not-for-profit organizations should evaluate in advance of the adoption date of this guidance.

12:20 PM – 1:10 PM EDT

NOT2353. Perspectives of a Pass-through Entity: A Focus on Compliance (ONLINE ONLY)

Yulia Murzaeva

- Managing Director | GHJ

Amanda Ward

- Partner | Plante Moran

This session will allow participants to learn how, with a little extra planning and preparation, to avoid common errors/instances of noncompliance that subrecipients make in their administration of federal awards. In this session we will explore the responsibilities of the pass-through entity (PTE), identify common errors/instances of noncompliance made by the subrecipient, and explore what to do to avoid these common errors/instances of noncompliance.

Learning Objectives:

Identify common errors/instances of noncompliance found by pass-through entities during their oversight of subrecipients
Determine the implications common errors/instances of noncompliance could have on the single audit

12:20 PM – 1:10 PM EDT

NOT2354. Form 990-T Under a Microscope (ONLINE ONLY)

Christopher Anderson

- Shareholder | Maloney + Novotny LLC

Lauren Haverlock

- Partner | Moss Adams

The 990-T has seen some changes over the past few years. This session will be a walk through the 990-T, giving tips and insights into the depths of the instructions and walking through some of the most common attachments.

Learning Objectives:

Analyze how unrelated business income is reported including the requirement of silos for different activities.
Idenitfy the UBI rules and understand what is taxable and why.

12:20 PM – 1:10 PM EDT

NOT2355. CyberSecurity & Fraud Risk Management (ONLINE ONLY)

Robert Botkin

- Associate | Parker Poe

Jeremy Dane

- Managing Director | BDO

Taryn Crane

- Managing Director, US Leader of Privacy & Data Protection Services | BDO

Cybersecurity and Privacy have become a critical topic for the C-Suite and Board. Due to the increasing threat of cyber incidents, it is critical for companies to be thoughtful about their prevention and response strategies to protect reputation, mitigate the risk of non-compliance, and minimize impact. In this session, we will cover: * Overview of current cybersecurity and privacy threat landscape * Review of recent high profile cybersecurity incidents and associated fraud * Best practices for organizations to prevent cyber fraud and protect customer privacy * Best practices for responding to a cyber incident

Learning Objectives:

Analyze current trends and threats in cybersecurity and data protection
Identify ways your company can establish an effect risk management program

1:25 PM – 2:40 PM EDT

NOT2356. Understanding SAS 145: Updates to Audit Risk Assessment (ONLINE ONLY)

Andrew Prather

- Shareholder | Clark Nuber P.S.

Samantha Bowling

- Partner | Garbelman Winslow CPAs

Join this session to hear from two members of the ASB about SAS 145 and the updates to audit risk assessment. Includes key changes in requirements for auditors to be aware of along with practical considerations for your firm's audit methodology for risk assessment.

Learning Objectives:

Identify changes to requirements for risk assessment in audits.
Recognize how to apply key changes to the audits you perform.

1:25 PM – 2:40 PM EDT

NOT2358. Venturing into New Territories - Legal and Tax Consideration of Joint Ventures (ONLINE ONLY)

Karen Gries

- Director | Baker Tilly US LLP

Joint ventures and other strategic alliances are everchanging and increasingly important to organizations in today’s current environment. A joint venture may provide a creative opportunity to further your organization’s mission. However, it is not without its own risks – financial, tax and legal. This session will review the history of joint ventures between for-profit and tax-exempt organizations along with providing the relevant IRS rulings, regulations and judicial decisions that impact this area plus address various risks and other operational implications. Attendees will walk away with a greater understanding of the practical and technical considerations as they consider whether a joint venture is a viable operating model.

Learning Objectives:

Determine tax, legal and operational considerations of joint ventures
Analyze the various joint venture structures

1:25 PM – 2:40 PM EDT

NOT2359. Team Risk (ONLINE ONLY)

David Rottkamp

- Partner, Nonprofit Practice Leader | GRASSI & CO.

Panagiota Mahendru

- EVP & CFO | Low Income Investment Fund

Risk - cross functional effort that requires an action plan to mitigate known risk. What is the role of the CFO and finance department. What are the responsibilities?; Insurance Considerations for NFPs (what are the different types, what do you need, how to evaluate); Focus on How to do an Effective Risk Assessment; What the future will bring to our risk environment

Learning Objectives:

Identify current risks facing the nonprofit sector.
Determine the role of the CFO and the finance department as it relates to risk identification.
Use the Enterprise Risk Management (ERM) framework.