Learn about the state of the Massachusetts nonprofit sector in 2021 and its work on behalf of people across Massachusetts. We’ll also discuss its response to the myriad challenges of 2020 and its outlook going forward.
Learn recent developments in Generally Accepted Accounting Principles (GAAP) that are noteworthy for nonprofits. We’ll discuss new standards, especially ASU 2020-07 on contributed nonfinancial assets (gifts-in-kind); implementation matters for recent standards, especially Leases (Topic 842); other significant accounting and reporting matters, especially involving various CARES Act programs; and current projects in the FASB’s pipeline.
The COVID-19 pandemic has upended the operations and finances of practically all nonprofits, causing them to take steps they would have never contemplated just 12 months ago. Over the past year, nonprofits have found themselves taking out Paycheck Protection Program (PPP) loans, transitioning to remote work and transforming in-person fundraising events to virtual ones. In this session, we’ll address compliance issues involved in obtaining PPP loan forgiveness, employing individuals working remotely from out-of-state and conducting online fundraising events.
In this session, we’ll identify challenges to conducting audits in a remote work environment, assess the impact to the audit plan related to disruption of your client’s control environment and recognize the additional risks that may be present in your engagements due to the effects of the pandemic and remote working. We’ll also identify higher risk audit and accounting matters given impact of COVID-19 and evaluate best practices that you can implement on your engagements.
Go beyond the core Office 365 apps such as Teams, SharePoint and OneDrive! You’ll learn additional ways to power your firm and be introduced to apps, including Planner, PowerBI, OneNote, Bookings and more.
Hear from three Boston area leaders on how the pandemic has impacted their mission and business, learn how they are facing new challenges and planning for 2021.
In this session, we’ll cover the top considerations for your network security while the majority of your workforce is remote. We’ll also discuss creating and enforcing security policies, identifying anomalous user activity, eliminating threats caused by misconfigurations and much more.
Review accounting and disclosure guidance for funding received under the CARES Act, grants and contributions and collections. We’ll also discuss the new guidance on in-kind contributions and examine considerations for nonprofit management and their auditors.
Discuss the recent changes to the compliance supplement and those that are proposed for the Uniform Guidance, hear an overview of the recent changes to the Yellow Book and more.
Discuss how nonprofits can handle fundraising during the COVID-19 pandemic and examine why charitable organizations should consider expanding their fundraising and mission reach. We’ll examine why now is an opportune time to launch formal annual and planned giving programs and specific methods of giving that are more attractive in light of the current low interest rates, historic trends of giving in turbulent times, the SECURE Act and the CARES Act. We’ll also cover why taking on the position of a thoughtful advisor is a strategy that will prove to be successful.
Take your organization from a current budget snapshot to a dynamic future-focused model to help drive decisions and respond to uncertainties. We’ll discuss some of the key tools in planning and some best practices associated with each, including budgets, forecasts, projections and scenario planning. Plus, we’ll review ways you can start to partner within the business to help meet your organization’s objectives.
Review what steps you should take to position your organization before, during and as we leave a recession. We’ll also examine how to recognize the recessionary cycles and the impact on nonprofits, discuss what your organization can do to thrive during a recession and practical tools and techniques you can use to give your nonprofit a competitive advantage.
This conference qualifies for the Workforce Training Express Fund program. The course code for this program is 1122807. Click here for more details: https://www.mscpaonline.org/cpe/training_fund
Brad Bedingfield is a partner and co-chair of the Nonprofit Group at Hemenway & Barnes LLP in Boston where works extensively with nonprofit organizations, navigating tax, regulatory and governance matters, guiding them through formation, reorganizations, mergers, affiliations, dissolution and advising them on innovative use of charitable assets, including social impact bonds and other forms of impact investing. Additionally, Bedingfield counsels high-net-worth individuals and families on charitable giving, estate planning and lifetime gifting strategies. With over a decade of private practice with national firms and also previously working as a tax law specialist with the Exempt Organizations Division of the IRS in Washington, D.C., he is also the co-chair of the Boston Bar Association Tax Exempt Organizations Public Policy Committee and serves on the Board of Directors for the Planned Giving Group of New England (PGGNE).
Elizabeth Dollar, CPA, is a partner and national practice leader at Moss Adams with a focus in financial statement and compliance audits for nonprofit organizations, including foundations (both public and private), trade associations, multiservice nonprofit entities, healthcare organizations and universities. Practicing public accounting since 2000, she audits many organizations receiving federal funding under Uniform Guidance for Federal Awards (formerly OMB Circular A-133) and leads the nonprofit and foundation assurance services for the firm. As a national subject matter expert for the nonprofit industry, Dollar regularly presents at industry conferences such as the Council on Foundations (COF) Endowment Forum and the COF Annual Conference on subjects related to Foundation financial statement trends, endowments and split-interest agreements, spending and investment policies and issues facing nonprofit organizations.
Eleanor Evans serves on the counsel of Hemenway & Barnes LLP and has over 20 years’ experience representing nonprofit and for-profit organizations in a range of legal, governance and compliance matters. She provides practical advice to private foundations, public charities and other tax-exempt organizations on strategic initiatives and day-to-day operations. Prior to this role, Evans served as general counsel of action for Boston Community Development, Inc. (ABCD) and as executive director/general counsel of Community Action Program Legal Services, Inc. (CAPLAW), a nonprofit providing legal assistance to a network of approximately 1,000 human services providers nationwide. Additionally, she is active in the Boston Bar Association and a frequent speaker at nonprofit sector events.
Erica Forhan, CPA, is a partner in the Moss Adams Professional Practice Group, where, as director of audit and attest, she oversees the firm’s assurance practice. In this role, she provides technical consultations to practice office personnel on audit and accounting matters, develops and issues guidance to firm personnel regarding assurance services and leads quality control functions of the firm.
In addition, Forhan’s background is in providing assurance and advisory services to a variety of clients, with a focus on governmental, nonprofit and health care entities. A recognized leader in her firm for matters related to Government Auditing Standards, single audits and other assurance services, she leads the firm’s Single Audit Technical Review team, a specialized group of professionals focused on single audit and compliance reporting matters.
Paul Griffin serves as the chief financial officer at Brooks School. He previously served as the director of financial services and controller for 14 years at Northfield Mount Hermon (NMH) School. Prior to this role at NMH, Griffin also worked in the banking and manufacturing industries, as well as in public accounting with Coopers & Lybrand.
Melissa Harman, CPA, is a partner and national practice leader of higher education at Moss Adams where she provides professional services to a wide variety of nonprofit clients, primarily institutions of higher education, associations and foundations. Along with providing accounting and consulting services, she also conducts a wide variety of audits, including federal compliance audits. As a national subject matter expert for the nonprofit and higher education industries, Harman regularly presents at industry conferences such as the AICPA National NFP Industry Conference, NACUBO, WACUBO, ASAE Annual Meeting, CalSAE Elevate and the Large Community Foundation Conference on subjects related to accounting updates, nonprofit financial statement trends, endowments and split-interest agreements, issues facing private foundations, fraud in higher education and women leadership topics.
John Higgins, CPA, CITP is the co-founder of CPA Crossings, LLC, established in 2001, which specializes in helping accounting, tax and financial professionals leverage technology to increase the quality and efficiency of their services. He delivers over 100 presentations annually on a wide range of accounting industry related technology topics including Blockchain, big data, data analytics, cloud computing and all things Office 365. Some of his key accomplishments include induction into the AICPA Business & Industry Hall of Fame and selection as a top 25 thought leader for the accounting profession by CPA Practice Advisor magazine from 2011 through 2018.
Jim Klocke is the CEO of the Massachusetts Nonprofit Network (MNN) where he provides advocacy, capacity-building and public awareness services for nonprofits across the state. Prior to this role, Klocke served as executive vice president of the Greater Boston Chamber of Commerce.
James (Jim) T. Lindell is the President of a Wisconsin based provider of strategic & financial consulting, professional speaking, training, and executive coaching. Jim has an extensive background in senior management including positions as Chief Financial Officer and Corporate Assistant Controller. James Lindell is a Certified Public Accountant with public accounting experience at several local and regional accounting firms. He is a TEC Chairman (The Executive Committee). He is a member (and instructor) of the American Institute of CPA's and the Wisconsin Institute of CPA's and a member of Wisconsin Chapter of National Speaker Association. Jim is the author of the AICPA course “AICPA’s Annual Update for Controllers”, “Targeting the Bottom Line: Taking the Guesswork out of Financial Management”.
Elizabeth Manchester is chair of the Charitable and Nonprofit Organizations Practice Group at Partridge Snow & Hahn LLP where she represents tax-exempt entities, centered on compliance, charitable gift planning issues and the implementation of planned and estate-giving strategies and best practices. She also advises charitable and higher learning institutions on tax benefits available to donors, assists in discussions with donors to advance their mission and helps institutions with the inception of planned giving programs. In addition, Manchester counsels individuals, families and fiduciaries on all aspects of estate planning, estate settlement and trust administration in Rhode Island and Massachusetts, including planning and tax strategies designed to further the unique goals of clients.
Jeff Mechanick is the assistant director for nonpublic entities at the Financial Accounting Standards Board (FASB) where he provides strategic and technical oversight of all activities involving nonprofit organizations and private companies. In addition, he chairs the FASB’s Nonprofit Advisory Committee, oversees support of the Private Company Council and participates in some of the FASB’s broader outreach activities. Mechanick is also a member of the Technical Advisory Group, the International Financial Reporting for Nonprofit Organizations initiative (#IFR4NPO) and the overall lead staff member for the Blue-Ribbon Panel on Standard Setting for Private Companies and the FASB/IASB Financial Crisis Advisory Group.
John Perkins, CPA, CGMA, is the CFO of Boch Center where he is responsible for the finance and human resources functions and all financial and tax reporting of the four corporate entities composing the organization. Prior to this role, he was vice president and corporate controller at RISO, Inc., a multi-national distributor of commercial printing equipment, where he was a member of the executive management team and was responsible for accounting and financial reporting, tax, distribution, corporate facilities, travel and corporate risk and insurance. In addition, Perkins has served as a member of the board of directors of various nonprofit organizations.
Marci Thomas, MHA, CPA, CGMA, licensed as a CPA in Georgia and North Carolina, is an author and nationally recognized speaker on various accounting and auditing topics to companies, nonprofits, CPA firms, and state societies of CPAs around the country. A frequent speaker at local, regional, and national conferences, she also writes and teaches courses in governance, financial management, grants accounting, strategy, and various operational topics. Marci is a clinical assistant professor in the School of Public Health at the University of North Carolina at Chapel Hill. She works with numerous accounting firms, performing quality control and efficiency reviews; and with boards on strategic planning, internal control, and governance issues. Marci serves on the Not-for-Profit Committee for the North Carolina Association of CPAs. Marci has written and co-written several books, including Essentials of Physician Practice Management, published by Jossey Bass in 2004. Her book Best of Boards: Sound Governance and Leadership for Nonprofit Organizations was published by the AICPA and Wiley Publishing in 2018 and is on its second printing. Her book on health care financial management was published by Wiley Publishing in 2014, with a new edition expected in 2020. Marci received her Bachelor in Business Administration with a concentration in accounting from the Georgia State University and her Masters in Health Administration from the University of North Carolina at Chapel Hill.