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Date / Time / Location

Thursday, December 5, 2019
8:00 AM - 4:30 PM
Registration: 7:45 AM

Pines Manor2085 State Highway 27
Edison, NJ 08817
732-287-2222

CPE Credits

  • 8.00 CPE Credits in MC

Package Pricing

In-Person Registration
  • $269.00 - Member
  • $369.00 - Non Member
Webcast: Attend this conference virtually.
  • $269.00 - Member
  • $369.00 - Non Member

Qualifies For

  • Yellow Book
Nonprofit organizations are dealing with change on multiple horizons ranging from emerging technologies to new regulations. Attend this conference, led by national industry experts, to get the tax, compliance, accounting & auditing and governance updates you need to better serve your nonprofit clients.

Designed For

CPAs and financial professionals working for nonprofit organizations or representing nonprofit clients.

Benefits

Brought to you by the Nonprofit Interest Group, the premier resource for CPAs working in the nonprofit industry. The NJCPA Nonprofit Interest Group provides members with interpretations of new standards through committee meetings, roundtables and educational events. The group serves as a liaison between the NJCPA and industry, government and other-related organizations. This annual conference aims to provide attendees with the most relevant topics discussed throughout the year.

Thank you to the 2019 Nonprofit Conference Planning Committee
Catherine Syslo, CPA (Chair)
Amy Y. Both, CPA
Brian King, CPA
Catherine Z. Horn, CPA, CGMA, SPHR
Edward P. Noble, CPA
Patricia M. Linsley, CPA
Peter E. Herbst, CPA
Jacalyn L. Schwartz, CPA
James P. Mulroy, CPA, CGMA, CGFM
June M. Toth, CPA, CFF, CITP, CGMA
Kathleen F. Powers, CPA
Lynn L. Albala, CPA, CMA, CGMA
Melissa C. Williams, CPA, CGMA
Robert L. Dethlefsen, CPA

Highlights

7:30-8 a.m.
Registration, Breakfast and Welcome

8-8:50 a.m.
Industry Update and Post-Implementation of FASB 2016-14 (AA)
Louis J. Mezzina, CPA
Not-for-profit organizations are frequently in the news. Examine headlines to understand what drives the stories and discover key takeaways. Then, discuss lessons learned from the implementation of FASB 2016-14.

8:50-10:05 a.m.
Grants and Contracts for Not-for-Profits (AA)
Richard A. Cole, CPA - BKD
This session will provide an overview of the FASB’s new grants and contracts accounting standard update and some implementation ideas.

10:05-10:25 a.m.
Morning Break

10:25-11:40 a.m.
Leases – Implementing the Changes for Lessees (AA)
Brad E. Muniz, CPA – SobelCo
Frank R. Boutillette, CPA, CGMA, ABV – Withum

Discuss an overview of the changes to the lease standards, examples of lessee implementation and certain nuances that are commonly overlooked.

11:40 a.m.-12:40 p.m.
Lunch

12:40-1:55 p.m.
Breakout Sessions (Choose One)

1A. The 2019 Yellow Book and Single Audit Update (AA)
Alexander K. Buchholz, CPA, MBA, CGMA – PKF O’Connor Davies, LLP
Examine changes for those audits conducted under the Uniform Grant Guidance, along with forthcoming Yellow Book revisions and independence for non-attest services.

1B. IRS Tax-Exempt Update (TX)
Magdalena M. Czerniawski, CPA, MBA and Robert Lyons, CPA, MST – Marks Paneth LLP
This session will cover tax-exempt organizations’ tax landscape post Tax Cuts and Jobs Act, including issues with transit and parking tax, blended rate issues, new developments and IRS plan.

1C. Advancing Exemplary Governance (SK)
Louis J. Mezzina, CPA
There is a great deal of literature focused on not-for-profit governance, from basic responsibilities to best practices. However, governance remains one of the most challenging areas to manage. However, there are exceptional boards that oversee correctly and are valuable strategic assets of their organizations. This session will provide steps any organization can take to improve performance.

1:55-2:05 p.m.
Afternoon Break

2:05-3:20 p.m.
Breakout Sessions (Choose One)

2A. Risk Assessment (AA)
June M. Toth, CPA, CFF, CITP, CGMA – ZBT Certified Public Accounting & Consulting, LLC
Since the issuance of the Risk Assessment Standards, Peer Review teams have found that more than one in 10 firms failed to comply with AU-C Section 315 or 330. Learn what are the most pervasive issues that Peer Review teams have uncovered and how to avoid them. Review:
  • What are the misconceptions leading to non-compliance that relate to understanding the entity and it’s environment, assessing the risks of material misstatement and performing procedures in response to assessed risks.
  • Consider how to determine responses identified and assessed risks by selecting or designing procedures.
  • What risks are relevant to the financial statement audit?
2B. Private Foundations and Donor Advised Funds (TX)
Magdalena M. Czerniawski, CPA, MBA and Robert Lyons, CPA, MST – Marks Paneth LLP
This session will cover recent development in self-dealing, equivalency determinations and other excise tax issues. Then, discuss Donor Advised Funds and Notice 2017-73 with an explanation of the differences between Private Foundation and Donor Advised Funds.

2C. Best Practices for Internal Controls (AA)
Scott A. Brown, CPA, CGMA – PKF O’Connor Davies LLP
Internal Controls are critical for organizations of all types and sizes. Not-for-Profits are no exception. Examine:
  • The importance of having a strong internal control system to ensure an organization’s success
  • Best practices and five questions every organization should ask when reviewing their internal controls
  • Common deficiencies recently identified during financial statement audits of nonprofit organizations
3:20-3:40 p.m.
Afternoon Break

3:40-4:30 p.m.
What’s New at the IRS? (TX)
Maria Hooke and Peter Lorenzetti - Internal Revenue Service
This session will discuss a variety of observations and areas of concern that the Internal Revenue Service (IRS) sees when dealing with not-for-profit organizations.

Course Level

Intermediate

Prerequisites

None

Advance Preparation

None
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Registrations will be accepted at the door.

8:00 AM to 8:50 AM
Industry Update (AA)

Not-for-profit organizations are frequently in the news. Examine headlines to understand what drives the stories and discover key takeaways. Then, discuss lessons learned from the implementation of FASB 2016-14.

Credits

  • 1.00 Credits of Category AA

8:50 AM to 10:05 AM
Grants and Contracts for Not-for-Profits (AA)

This session will provide an overview of the FASB’s new grants and contracts accounting standard update and some implementation ideas.

Instuctor(s)

Credits

  • 1.50 Credits of Category AA

10:25 AM to 11:40 AM
Leases – Implementing the Changes for Lessees (AA)

Discuss an overview of the changes to the lease standards, examples of lessee implementation and certain nuances that are commonly overlooked.

Instuctor(s)

Credits

  • 1.50 Credits of Category AA

12:40 PM to 1:55 PM
1A. 2019 Yellow Book and Single Audit Update (AA)

Examine changes for those audits conducted under the Uniform Grant Guidance, along with forthcoming Yellow Book revisions and independence for non-attest services.

Instuctor(s)

Credits

  • 1.50 Credits of Category AA

12:40 PM to 1:55 PM
1C. Advancing Exemplary Governance (SK)

There is a great deal of literature focused on not-for-profit governance, from basic responsibilities to best practices. However, governance remains one of the most challenging areas to manage. However, there are exceptional boards that oversee correctly and are valuable strategic assets of their organizations. This session will provide steps any organization can take to improve performance.

Credits

  • 1.50 Credits of Category SK

12:40 PM to 2:55 PM
1B. IRS Tax-Exempt Update (TX)

This session will cover tax-exempt organizations’ tax landscape post Tax Cuts and Jobs Act, including issues with transit and parking tax, blended rate issues, new developments and IRS plan.

Instuctor(s)

Credits

  • 1.50 Credits of Category TX

2:05 PM to 3:20 PM
2A. Risk Assessment (AA)

Since the issuance of the Risk Assessment Standards, Peer Review teams have found that more than one in 10 firms failed to comply with AU-C Section 315 or 330. Learn what are the most pervasive issues that Peer Review teams have uncovered and how to avoid them.

Review:

  • What are the misconceptions leading to non-compliance that relate to understanding the entity and it’s environment, assessing the risks of material misstatement and performing procedures in response to assessed risks.
  • Consider how to determine responses identified and assessed risks by selecting or designing procedures.
  • What risks are relevant to the financial statement audit?

Instuctor(s)

Credits

  • 1.50 Credits of Category AA

2:05 PM to 3:20 PM
2B. Private Foundations and Donor Advised Funds (TX)

This session will cover recent development in self-dealing, equivalency determinations and other excise tax issues. Then, discuss Donor Advised Funds and Notice 2017-73 with an explanation of the differences between Private Foundation and Donor Advised Funds.

Instuctor(s)

Credits

  • 1.50 Credits of Category TX

2:05 PM to 3:20 PM
2C. Best Practices for Internal Controls (AA)

Internal Controls are critical for organizations of all types and sizes. Not-for-Profits are no exception. Examine:

  • The importance of having a strong internal control system to ensure an organization’s success
  • Best practices and five questions every organization should ask when reviewing their internal controls
  • Common deficiencies recently identified during financial statement audits of nonprofit organizations

Instuctor(s)

Credits

  • 1.50 Credits of Category AA

3:40 PM to 4:30 PM
What’s New at the IRS? (TX)

This session will discuss a variety of observations and areas of concern that the Internal Revenue Service (IRS) sees when dealing with not-for-profit organizations.

Instuctor(s)

  • Maria Hooke
    Director, Exempt Organizations Examinations for Internal Revenue Service
  • Peter Lorenzetti, CPA
    Exempt Organizations Examinations Area Manager for Internal Revenue Service

Credits

  • 1.00 Credits of Category TX
Frank Boutillette

Frank R. Boutillette, CPA, CGMA, ABV
Partner
WithumSmith+Brown

Frank Boutillette, CPA, is a partner in Withum’s New York office and has over 25 years of accounting and auditing experience. Specializing in accounting, auditing and business valuation services, Frank is a licensed certified public accountant in New York and New Jersey. He is a member of Withum’s Financial Services & Investment Group and has significant experience working with investment companies (hedge funds, mutual funds and ETFs), broker-dealers, private equity and venture capital funds, registered investment advisors and closely-held businesses. He also performs peer and quality reviews of CPA firms. He is a member of the American Institute of CPAs (AICPA) and the NJCPA, where he served as president for the 2015/16 term. Frank is also a member of the NJCPA Peer Review Executive Committee, which administers peer reviews on behalf of the AICPA in New Jersey. He is a co-author of three books on accounting. A graduate of Rutgers University, Newark, Frank received his BA degree in accounting.

Scott Brown

Scott A. Brown, CPA,CGMA
Senior Manager
PKF O'Connor Davies, LLP

Scott Brown is a senior manager at PKF O’Connor Davies with 10 years of experience in public accounting, servicing clients out of the firm’s New York City and Cranford, New Jersey offices.

Scott is responsible for the development of the audit approach, supervision of staff, and the establishment and maintenance of the engagement budget. Additionally, he is responsible for the coordination of staff and management so that the audit is performed on a timely basis with as little intrusion to client operations as possible. 

Scott specializes in auditing and tax consulting, working with a variety of not-for-profit organizations including independent schools, private foundations, arts and cultural organizations and membership organizations.

Scott is a frequent contributor to the Firm’s monthly Private Foundation Bulletins and presents continuing professional education courses to members of the Firm’s staff.

 

Alexander Buchholz

Alexander K Buchholz, CPA, MBA, CGMA
Audit Partner
PKF O'Connor Davies, LLP

Alexander K. Buchholz, CPA, MBA, CGMA is an Audit Partner in the Not-for-Profit and Health Care Practices of PKF O’Connor Davies, LLP. Alexander has fifteen years of experience in public accounting. His areas of specialty include audits of not-for-profit entities, health care entities, and special needs clients, cost reporting as applicable to health care and not-for-profit entities, as well as Single Audits conducted in accordance with the Uniform Grant Guidance. Alexander is also an adjunct professor of accounting within the City University of New York as well as Mercy College. Alexander also serves on a number of professional and academic affiliations. Alexander’s journal publications have covered accounting, audit, tax and education topics and he has presented on both a professional and academic level.

Richard Cole

Richard A. Cole, CPA
Partner
BKD, LLP

Rick Cole is a partner in the New York City office of BKD specializing in audits and advisory services for not-for-profit and higher education organizations. Rick is widely regarded nationally for his knowledge related to Not-for-Profit accounting standards and has been a frequent speaker with NACUBO, the AICPA, and various state societies of CPAs. He joined the firm recently from the FASB.

Before joining BKD, Rick worked at the FASB, where he served as a supervising project manager. In that role, he was the project manager on Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements of Not-for-Profit Entities; ASU 2018-08, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made; ASU 2019-03, Updating the Definition of Collections; and the Financial Performance Reporting for business entities project. He was also the coordinator for FASB’s NFP Advisory Committee and the Private Company Council.

Prior to joining the FASB, Rick was the Vice President and Controller at the American Museum of Natural History in New York, where he worked for over seven years, and before that was a senior manager with KPMG LLP, where he worked for over fourteen years and specialized in audits of higher education institutions and other NFPs. Rick is a lecturer at Columbia University’s School of Professional Studies in their Non-Profit Management program. Rick earned a BS and an MBA from Montclair State University. He is a CPA in New York and New Jersey and is a member of the AICPA and the New York State Society of CPAs.

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Magdalena Czerniawski

Magdalena M. Czerniawski, CPA
Director
Marks Paneth LLP

Magdalena M. Czerniawski, CPA, MBA, is a Tax Director at Marks Paneth LLP and a member of the firm’s Nonprofit, Government & Healthcare Group. With nearly 15 years of nonprofit industry experience, she provides tax services to a wide array of nonprofits, including charitable organizations, social welfare organizations, professional associations and private foundations.

In addition to providing tax planning and advisory services, Ms. Czerniawski specializes in matters related to ASC 740-10 (FIN 48), the reporting requirements that govern contributions, compensation, unrelated business taxable income, lobbying costs, and public support testing. She also represents her clients as an authorized representative before the Internal Revenue Service and various state agencies. Furthermore, Ms. Czerniawski’s experience includes serving clients with matters related to employee benefit plans, healthcare organizations and hospitals, affordable housing entities, foreign tax filings and payroll tax returns.

Prior to joining Marks Paneth, Ms. Czerniawski was a Senior Tax Manager with a national accounting firm, where she focused on tax consulting and compliance for many of their highest profile clients. She has published various articles on industry-specific tax matters and has served as a speaker for internal and external seminars.

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Maria Hooke

Maria Hooke
Director, Exempt Organizations Examinations
Internal Revenue Service

Maria Hooke currently serves as the Director, Exempt Organizations Examinations where she provides executive oversight of the nation-wide examinations program. Prior to this assignment Maria served as the Assistant to the Assistant Deputy Commissioner, Government Entities/Shared Services in the Tax Exempt and Government Entities Division (TE/GE). In this role, she provided leadership for the Government Entities Division, including Tax Exempt Bonds, Indian Tribal Governments and Federal, State & Local Governments.

Maria has also served as the acting as the Director of Tax, Forms and Publications in Wage and Investment, the acting Director of Enterprise Case Management in Small Business/Self Employed and the Director of Business Systems Planning in TE/GE. She began her IRS career in 1985 as a Revenue Agent in Miami, Florida. Maria holds a Bachelor of Arts degree in Accounting from St Thomas University in Miami, Florida.

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Peter Lorenzetti

Peter Lorenzetti, CPA
Exempt Organizations Examinations Area Manager
Internal Revenue Service

Peter Lorenzetti is the Exempt Organizations Examinations Area Manager for the Northeast Area in the Tax Exempt and Government Entities Division of the Internal Revenue Service.

Peter began his career in the Internal Revenue Service in June 1973, as a Tax Auditor in the Examination Division and joined the Employee Plans/Exempt Organizations Division in 1976 as an Internal Revenue Agent – Employee Plans Specialist.

Peter has held increasingly responsible positions in the Service, including Employee Plans Group Manager, Chief of the EP/EO Quality Review Staff, Senior Regional Analyst, Exempt Organizations Branch Chief and EP/EO Assistant Division Chief, prior to assuming his current position as Area Manager. Peter has had several acting assignments as the Director, EO Examinations. Peter has been an Instructor for Adelphi University in its paralegal program.

He graduated Cum Laude with a Bachelor of Arts degree from Fordham University.

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Robert Lyons

Robert Lyons, CPA
Marks Paneth LLP

Robert Lyons, CPA, is managing tax director in the Nonprofit and Government Services Group at Marks Paneth & Shron, LLP. Mr. Lyons brings to this role the skills he had developed during more than 30 years of providing tax and consulting services to his clients in the nonprofit, higher education, and public sector industries. His experience includes handling substantial exempt organization tax issues. Mr. Lyons has testified in front of the House and Ways Committee in Washington, D.C., establishing the current treatment of affinity royalty arrangements. He has also been involved in special projects related to unrelated business income for exempt organizations, including but not limited to state filing issues, including settlements, foreign filling requirements for off-shore activities and use of exempt bond proceeds. Mr. Lyons has advised clients on the use of for profit subsidiaries as well as disregarded entities. He has led numerous training seminars for the American Institute of Certified Public Accountants and served as an adjunct professor in the Kogod School of Business Graduate Department at American University in Washington, DC. He has also authored six books and forty articles to date concerning exempt organization issues. Prior to joining Marks Paneth & Shron, Mr. Lyons was the tax managing director with KPMG, LLP, where he focused on tax and compliance issues for many of their largest clients, including public charities, private foundations, colleges and universities, social services and membership organizations, and cultural institutions. He is licensed to practice in New York State, Florida, Virginia and the District of Columbia. Mr. Lyons holds a B.S.B.A. in Accounting from the University of Florida and a Masters of Science in taxation from American University.

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Louis Mezzina

Louis J. Mezzina, CPA
KPMG LLP

Lou Mezzina is a retired KPMG Audit Partner with more than 40 years experience and served as National Industry Director for the firm’s Higher Education and Other Not-for-Profit Organizations practice from 2002 through his retirement in 2014. He continued to support that practice through March 2019 as a Senior Advisor, supporting knowledge sharing efforts within and outside the firm.

Lou received his BS degree in accounting, summa cum laude, from The State University of New York at Albany. He is a former chairman of the Not-for-Profit Organizations Committee of the New York State Society of Certified Public Accountants and served a three-year term on the Not-for-Profit Organizations Committee of the AICPA. He is a past president of the Make-A-Wish Foundation of Metro New York.

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Brad Muniz

Brad E. Muniz, CPA
Partner in Charge of Accounting & Auditing
SobelCo

Brad E. Muniz, CPA, is the director of accounting and auditing at Sobel & Company LLC, CPAs, serving small businesses and individuals in the areas of accounting, auditing, tax and business consulting. He has significant experience in the areas of financial reporting, tax compliance and planning for closely held businesses, SEC registrants, nonprofit organizations and strategic business planning, and in industries, such as real estate, construction, architectural and engineering, retail, hospitality and manufacturing. Brad is a member of the AICPA and the NJCPA, having served as NJCPA President in 2014/15. In addition, Brad has served as an adjunct professor of accounting at William Paterson University and the College of Saint Elizabeth. Twitter @BradMuniz

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June Toth

June M. Toth, CPA, CFF, CITP, CGMA
Managing Member
ZBT Certified Public Accounting & Consulting, LLC

June M. Toth, CPA, CFF, CITP is the managing member of ZBT Certified Public Accounting & Consulting, LLC in Clark, NJ. June has over 20 years of experience in public accounting. Services she performs include forensic and litigation engagements for contested estates, shareholder disputes, preparation of economic damage reports, and expert witness testimony, individual and business taxation (multistate), estate/fiduciary accounting/taxation, nonprofit information returns, management consulting, litigation support/forensic accounting, compilations, reviews, and audits. Ms. Toth enhances her technical knowledge by active participation in NJCPA interest groups as well as performing Peer Reviews and inspections/engagement quality reviews for other CPA firms.

June is a NJ licensed CPA and received her CFF designation. She is also Certified Part 36 in NY. June is a frequent lecturer presenting on various topics to groups throughout NJ. She is a member of both the AICPA and NJCPA where she is active on various technical groups. Her clients include franchises, service and wholesale industries, multistate entities, nonprofits, estates/guardianships and litigation support/forensic accounting.

She holds a B.S. in Accounting from Rutgers University where she graduated Summa Cum Laude.

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