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Thursday, December 3, 2020 Webcast

Nonprofit Conference (E2012410)

8:00 AM - 4:00 PM EST

Registration: 7:30 AM EST

webcast

Webcast

8.0 CPE Credits in MC

OVERVIEW

Nonprofit organizations are grappling with a recovering economy and increasingly complex compliance and regulations.

DESIGNED FOR

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

HIGHLIGHTS

8-8:50 a.m.
FASB Update for Not-for-Profits (AA)
Jeffrey D. Mechanick, CPA, MBA – Financial Accounting Standards Board
This session will cover the latest developments in GAAP that are important for not-for-profits, including:
  • Recent deferrals in the effective dates for revenue recognition (Topic 606) for some NFPs and leases (Topic 842)
  • Accounting considerations for the Paycheck Protection Program and other CARES Act programs under ASU 2018-08 and Topic 606
  • Recent standards and projects on reference rate reform (the phaseout of LIBOR), goodwill and gifts-in-kind.
The presentation will reserve time for audience Q&A.

8:50-8:55 a.m.
Break

8:55-10:10 a.m.
Understanding and Implementing the FASB’s New Leases Standard (Topic 842) (AA)
Jeffrey D. Mechanick, CPA, MBA – Financial Accounting Standards Board
Peter Ugo, CPA – Crowe LLP

FASB's new leases standard is here! Effective for calendar year 2020 (fiscal year 2020/21) for nonprofits with public debt (after the recent optional one-year deferral in ASU 2020-05) and soon after for all other NFPs, Topic 842 will significantly change the way leases are reported in financial statements. This session will focus on lessee accounting and discuss the key elements of the new standard, especially those requiring significant judgment. It will address examples, implementation tips and frequently asked questions.

10:10-10:20 a.m.
Break

10:20-11:35 a.m.
PPP Loan Forgiveness and Tax Impacts of the CARES Act (AA)
Frank Boutillette, CPA, CGMA and Daniel Mayo, J.D., LLM – WithumSmith+Brown
This session will concentrate on the Paycheck Protection Program loan forgiveness calculation including:
  • Differences between the long and EZ forms
  • Pros and cons of an eight-week and 24-week covered period
  • Costs which can and cannot be included
  • FTE exceptions and safe harbors, and how to apply them
  • Tax impacts of the PPP from loan disbursement to forgiveness
11:35 a.m.-12:05 p.m.
Lunch

12:05-1:20 p.m.
Breakout Sessions (Choose One)

1A. Single Audit Update (AA)
Allen L. Fetterman, CPA, MBA
The world of single audits is changing. This session will help professionals understand important changes in the single audit arena, including:
  • 2020 Compliance Supplement
  • Impact of the COVID-19 pandemic
  • Changes to the Uniform Guidance
  • New Yellow Book
1B. Nonprofit Tax Update (TX)
Magdalena M. Czerniawski, CPA, MBA– Marks Paneth LLP
This session will cover various new developments in the tax-exempt area, including:
  • Form 990 changes
  • Final regulations on executive compensation
  • IRS campaign targeting private foundations
  • Provisions of CARES Act
  • Other new tax developments
1C. Internal Controls in a Remote Environment (SK)
Brad Caruso, CPA, CFE and Nina Chmura, CPA – WithumSmith+Brown, PC
The year 2020 has brought about unprecedented change and opportunity. Not-for-profits have historically utilized paper to document their processes, approvals and consummate business. As they move to remote work environments, significant consideration needs be given towards the workflow, processes and internal controls utilized to create the most efficient and effective environment. This session will take a dual approach from the virtual outsourced accountant and the independent auditor, such as:
  • Considerations in moving to the cloud, virtual work environment and virtual accounting solutions
  • Best practices in remote work environments
  • Audit issues that arise in moving to remote working, including moving to electronic processes and how to maintain integrity and proper internal controls
  • Compliance considerations with government and other funding when moving from paper to electronic
1:20-1:35 p.m.
Break

1:35-2:50 p.m.
Breakout Sessions (Choose One)

2A. Single Audit Planning, SEFA, Major Program Determination and Reporting (AA)
Allen L. Fetterman, CPA, MBA
More nonprofit organizations are coming under the requirements of the single audit, especially as a result of federal assistance due to the COVID-19 pandemic. This session will review some of the most important elements of a single audit, including:
  • Planning the single audit
  • Auditing the SEFA, including required elements
  • Determining major programs
  • Reporting requirements
2B. Compliance Issues of Nonprofits (TX)
Brett R. Harris, Esq. – Wilentz, Goldman & Spitzer, PA
Learn best practices for organizations to follow to stay in compliance with the many laws and regulations impacting nonprofit organizations. Topics to be discussed include:
  • Issues that could threaten tax-exempt status
  • Compliance with state and federal regulations
  • Registration requirements
  • Charitable solicitation laws
  • Executive compensation
  • Private inurement
  • Public charity versus private foundation
2C. Strategic Planning and Budgeting: A Perfect Pairing (SK)
Amy West, CPA, CGMA – AHRC New York City
Strategic planning and budgeting are more crucial than ever during these ever-changing and challenging times. This practical session will help not-for-profit financial professionals with the following:
  • Establishing the relationship between strategic planning and budgeting
  • Examining different budgeting methodologies and dispelling budget myths
  • Exploring the importance of scenario planning in times of uncertainty
  • Identifying tools and techniques available to improve the planning and budgeting process
2:50-3 p.m.
Break

3-3:50 p.m.
Evolving Trends in Nonprofit Fraud and Why it Goes Undetected (AA)
Brian P. Sanvidge, CIG, CFE, and Julie Fox – Anchin, Block & Anchin LLP
This session will identify key factors that contribute to nonprofit fraud. Information from multiple resources, such as the 2020 ACFE Report to the Nations, national statistics, and the fraud triangle, will be used to address questions such as:
  • How do perpetrators go undetected?
  • Who is committing fraudulent acts?
  • Why does nonprofit fraud occur?

COURSE LEVEL

Intermediate

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTORS

Frank Boutillette

Frank R. Boutillette, CPA, CGMA, ABV

Partner

WithumSmith+Brown

Frank is a partner based in Withum’s East Brunswick, NJ office and has over 35 years of accounting and auditing experience. He is a licensed certified public accountant in the states of New York and New Jersey and specializes in accounting and auditing. Frank has a great deal of experience working with investment companies (hedge funds, mutual funds and ETFs), broker-dealers, private equity and venture capital funds, registered investment advisors, real estate investment trusts and closely-held businesses. He also performs peer and quality reviews of CPA firms.

A graduate of Rutgers University, Newark, Frank received his BA degree in accounting. He is a member of the American Institute of Certified Public Accountants (AICPA) and the New Jersey Society of Certified Public Accountants (NJCPA), where he served as president of the organization. Frank is the chair of the NJCPA Peer Review Executive Committee, which administers peer reviews on behalf of the AICPA in New Jersey. He is past chair of both the NJCPA Accounting and Auditing Standards Interest Group and the NJCPA Accounting and Auditing Resource Group. Frank is a former member of the Audit Committee for the NJCPA and past treasurer of both the NJCPA and the Middlesex/Somerset Chapter of the NJCPA. He recently completed a three-year term on the AICPA Peer Review Board. The Peer Review Board is responsible for maintaining, furthering and governing the activities of the Peer Review Program, including the issuance of peer review standards and peer review guidance, while being mindful of the profession’s covenant to serve the public interest with integrity and objectivity. Frank is a frequent lecturer on accounting and auditing topics to professional and business groups. He has been quoted in several publications and is the coauthor of three books on accounting. Frank resides in Ocean County, NJ.

Brad Caruso

Brad Caruso, CPA

Partner

WithumSmith+Brown

Brad has been with Withum for over a decade, during which time he made partner and is a licensed certified public accountant and Certified Fraud Examiner in New Jersey and New York. Brad is a Team Leader for the Firm’s Not-for-Profit and Education Services Group and is integral in rolling out firm audit technology. Brad also co-hosts Withum's Civic Warriors podcast that features leaders in the nonprofit industry who are making an impact despite whatever adversity they encounter.

Brad is very active in his community and is the board chair of Coming Home of Middlesex County, which is an organization whose mission is to end homelessness. In addition, he serves as a volunteer firefighter in his home town.

Striving to provide world-class client service to all of his clients, Brad serves to be a trusted advisor to bring about mutual success.

Brad resides in Somerset County, New Jersey, with his wife, Ashley, and three children: Chase, Molly and Duke (Golden Retriever).

Nina Chmura

Nina Chmura, CPA

Partner

WithumSmith+Brown

Nina is a partner in Withum’s East Brunswick, NJ, office. With more than 15 years of experience in the accounting and auditing field, Nina currently holds a strong role within the Firm’s real estate, consumer products and not-for-profit service areas. Additionally, Nina leads the firm's Outsourced Accounting Systems and Solutions (OASyS) practice. Her extensive experience has awarded her with accolades such as becoming the winner of Withum’s Inaugural Innovative Strength Award as well as the nominee for several of Withum’s Marketing and Entrepreneurship Strength Awards. Recently, Nina was named to the 2020 Edition of NJBIZ's Accounting Power 50 list.

Nina is licensed as a certified public accountant in the state of New Jersey. She is a member of the American Institute of Certified Public Accountants (AICPA) and serves on its Women’s Initiative Executive Committee Task Force. Nina also is an active member of the New Jersey Society of Certified Public Accountants (NJCPA), Raritan Valley YMCA as a Finance Committee Member, and serves on the New Jersey Food Council as Tax Policy and Trade Relations Committee Members. In addition, she invests time as a dedicated Board Member with CoreNet Global as their Special Events Chair and also is an active member of the Wanamassa PTA.

Nina graduated with a BS in Business Administration with a concentration in accounting from Boston University. Presenting and speaking at conferences such as the AICPA E.D.G.E, Massachusetts Society of CPAs Emerging Leaders and the AICPA Controllers Conference, she is very much involved in being an industry thought leader and proponent of the internal developmental initiatives of the Firm. Nina currently resides in Monmouth County, NJ, with her husband, Jason Chmura, and their two children Michael and Dominic.

Magdalena Czerniawski

Magdalena M. Czerniawski, CPA

Partner

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.

Allen Fetterman

Allen L. Fetterman, CPA, MBA

Allen L. Fetterman, CPA, MBA lectures extensively on not-for-profit accounting, auditing, federal single audits, tax-exempt issues and governance. He speaks at conferences, seminars and webcasts throughout the country. Allen was an assistant professor of accounting at a local college and has been a guest lecturer at Yale University and New York University. He has been a member of the Faculty Bank of the Foundation for Accounting Education (FAE). He is a past recipient of both the AICPA's and the FAE's Outstanding Discussion Leader Award. He has written articles published in national accounting periodicals in the United States and Israel on accounting and taxes for not-for-profit entities.

Allen has served on the American Institute of CPAs Not-for-Profit Organizations Committee, Not-for-Profit Audit and Accounting Guide Task Force and Joint Trial Board. He has chaired the New York State Society of CPAs Not-for-Profit Organizations, Professional Ethics, Audit, and Quality Controls Committees and the AICPA Joint Trial Board. He has also served as Vice-President of the New York State Society of CPAs and as a Trustee of the Foundation for Accounting Education.

Allen retired in 2003 from Loeb & Troper, where he spent thirty-six years serving not-for-profit entities as an auditor and consultant, the last twenty-five years as a partner. In addition to his client responsibilities, he was the partner in charge of the firm’s quality controls and technical resources.

Allen received his BBA in Accounting from The City College of New York in 1968 and his MBA in Accounting from the Bernard M. Baruch College in 1972. He was elected to Beta Gamma Sigma, the national honorary society in business. He received his CPA certificate in 1973 and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.

Allen has served on the governing boards of not-for-profit organizations, including positions as President, Treasurer and Chair of the Audit Committee and the Finance Committee.

Allen and Mimi, his wife of 51 years, live in West Nyack, New York. They have two sons and four grandchildren.

Julie Fox

Julie Fox

Supervisor

Anchin, Block & Anchin, LLP

Julie is a supervisor in the Regulatory Compliance and Investigations Group. Prior to Anchin, she gained experience at Baker Tilly Virchow Krause, LLP where she specialized in fraud and investigative services related to construction, healthcare, and not-for-profit organizations.

Brett Harris

Brett Harris, Esq.

Business Nonprofit and Technology Attorney

Wilentz, Goldman & Spitzer, PA

Brett R. Harris, a business, nonprofit and technology attorney, is a Shareholder in Wilentz, Goldman & Spitzer, P.A., with offices in Woodbridge and Eatontown, New Jersey; New York City; and Philadelphia, PA. Her broad-based general corporate practice includes transactional matters and client counseling, mergers and acquisitions, document drafting and negotiation, regulatory compliance and policy development. Ms. Harris has a particular focus on counseling non-profit organizations including entity formation, establishing and maintaining tax-exempt status, and complying with fundraising regulations. She counsels boards on governance, mission statement development and strategic planning, and advises clients on structuring and operating foundations and charitable trusts, including grantmaking due diligence and the administration of grant agreements. She has also developed a practice with an emphasis on technology issues including cyber security and social media policies, and handles intellectual property matters including licensing, trademarks and copyrights.

Ms. Harris is General Counsel to the New Jersey Women Lawyers Association and serves on the Executive Board of the organization. A member of the New Jersey State Bar Association, she was recently appointed to the Association’s Bylaws and Resolution Committee and is Immediate Past Chair of the Business Law Section, Past Chair of the Association’s Internet and Computer Law Committee and a member of the Board of Trustees of the Women in the Profession Section. She serves on the Board of Directors of the Business Law Section and has been Vice Chair of Communications of that Section. Ms. Harris is also a member of the NJSBA Taxation Law Section and NJSBA Intellectual Property and Privacy Law Committees, and the American and Middlesex County Bar Associations. She is involved in several business organizations, and serves on the Steering Committees of both the Nonprofit Forum and the Technology for Business Forum of the Commerce and Industry Association of New Jersey and the Women of Leadership Committee of the Association for Corporate Growth, New Jersey. Ms. Harris is a member of the Legal Working Group for the Center for Non-Profits and the New Jersey Chapter of the Association of Fundraising Professionals. In 2014 she was appointed as the New Jersey State Bar Association designee to the New Jersey Supreme Court Working Group on Ethical Issues Involving Metadata. Earlier this year she was appointed by the New Jersey Supreme Court to serve as a Trustee of The IOLTA Fund of the Bar of the State of New Jersey.

She is the recipient of several honors and recognitions, including being selected as one of the Top 25 Leading Women™ Intrapreneurs & Corporate Leaders by Leading Women Entrepreneurs for 2019 and NJBIZ Best 50 Women in Business in 2012. Ms. Harris lectures regularly on nonprofit law, transactional matters and legal issues related to technology for ICLE and other professional organizations. She has contributed to several books, including the Desk Reference Manual for Nonprofit and Social Service Organizations, and her articles have appeared in New Jersey Lawyer Magazine, the New Jersey Law Journal, The Computer & Internet Lawyer and other publications. Ms. Harris is also active on Twitter, tweeting @BrettHarrisEsq on business and nonprofit matters, technology law and issues of interest to professional women.

Ms. Harris received her B.A., cum laude, from Washington and Jefferson College and her J.D. from New York University School of Law, where she served as the Executive Editor of the New York University Review of Law and Social Change.

Daniel Mayo

Daniel Mayo, J.D, LL.M.

Principal

WithumSmith+Brown

Daniel has more than 20 years of professional tax experience as well as experience in federal, international and financial products taxation. He is a member of Withum’s National Tax Services Group and oversees the U.S. Federal income tax research, planning and review functions. He is experienced in mergers and acquisitions, capital markets and cross-border transactions.

Daniel is a frequent author and speaker on U.S. Federal income tax and international tax topics. He received his Bachelors of Science in Accounting from Rutgers College, his Juris Doctor, cum laude, from Seton Hall University School of Law and an LL.M. in Tax from New York University School of Law. He is an approved arbitrator for FINRA and an adjunct faculty member with Georgetown University Law Center. Daniel is a member of the American Bar Association, previously the chair of the Banking & Savings Institutions Tax Committee, and the New York Bar Association.

Jeffrey Mechanick

Jeffrey D. Mechanick, CPA, M.B.A.

Assistant Director

Financial Accounting Standards Board

Jeff Mechanick is Assistant Director for Nonpublic Entities at the FASB. In that role, he provides strategic and technical oversight of all activities involving not-for-profit (NFP) organizations and private companies, chairs the FASB’s Not-for-Profit Advisory Committee, oversees support of the Private Company Council, and participates in some of the FASB’s broader outreach activities. He is also a member of the Technical Advisory Group of the International Financial Reporting for Nonprofit Organizations initiative (#IFR4NPO).

Jeff has also been the overall lead staff member for the Blue-Ribbon Panel on Standard Setting for Private Companies and the FASB/IASB Financial Crisis Advisory Group.

Prior to joining the FASB staff in 2006, Jeff spent 20 years working in and with the not-for-profit sector, as the CFO of Planned Parenthood Federation of America, Inc., and before that, as a Senior Manager with KPMG, LLP, in the firm’s New York office. From 1992 to 1994, he served as the National Technical Senior Manager for the firm’s Higher Education, Research, and Other Not-for-Profit Organizations (HERON) practice. He is also a past member of the AICPA’s NFP Expert Panel. Jeff received his MBA from Rutgers University and his AB from the University of Chicago, and he is a member of the AICPA and the New York State Society of CPAs. He is also an adjunct instructor in Columbia University’s MS program in Nonprofit Management.

Brian Sanvidge

Brian P. Sanvidge, CIG, CFE

Principal

Anchin, Block & Anchin, LLP

Brian is the leader of the firm’s Regulatory Compliance and Investigations Group. He has been with Anchin Block & Anchin since 2019. As a Certified Inspector General in New York, he has more than 25 years of experience working with businesses on labor investigations, fraud investigations, disaster recovery, and business continuity. He has lectured nationally on labor law, business fraud, white- collar crime, and tax fraud, and has worked on regulatory compliance and government investigations for groups including the New York State Surrogate Bench as well as several bar associations. In 2013, Brian was honored to be included among the Who’s Who of Forensic Accountants by the Long Island Business News.

Peter Ugo

Peter Ugo, CPA

Audit Partner

Crowe LLP

Pete Ugo is an audit partner at Crowe LLP, which is the 9th largest CPA firm in the county. He has 23 years of audit and consulting experience with Crowe, and is the leader of the firm’s national not-for-profit and higher education audit practice. He has spent his entire career working in the not-for-profit and higher education industries. His client base includes higher education institutions, foundations, cultural arts, trade and membership and other not-for-profit organizations. Pete is actively involved as a presenter at various national and state conferences related to the not-for-profit industry, chairs the steering committee for the AICPA’s Government and Not-for-Profit Conference and is a member of the AICPA's Not-for-Profit Expert Panel.

Amy West

Amy West, CPA, CGMA

Executive Vice President

AHRC New York City

Amy West is currently the Executive Vice President and Chief Financial Officer of AHRC New York City (“AHRC”). AHRC is an organization that provides critical services to people with intellectual and developmental disabilities and their families. In her role Amy oversees the wide array of financial and administrative functions, strategic financial initiatives, real property, information technology and special projects that enable AHRC to fulfill its mission. Amy has direct responsibility for AHRC's operating budget of over $300 Million and manages a staff of ninety.  

Prior to joining AHRC, Amy served for eight years as the Director of Finance of the Solomon R. Guggenheim Foundation. Amy also held the position of Vice President of Finance and Budget at the United States Fund for UNICEF and worked as an auditor for Ernst & Young LLP specializing in the healthcare and not-for-profit industries. She began her career as the Coordinator of Fiscal Operations for the New York Public Library.

Amy graduated Summa Cum Laude from Hunter College with a Bachelor of Science Degree in Accounting. She is actively involved in Hunter College’s Mentoring Program, the Secretary of the Financial Managers Association, a member of the New York State Society of CPAs Nonprofit Committee and a member of the NPCC’s Nonprofit Excellence Awards Selection Committee. In addition, she serves on the AICPA Not-For-Profit Industry Conference Steering Committee.

PRICING

Virtual Conference Registration

    $289.00 - Member

    $389.00 - Non Member

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Note: Online pre-registration will close on December 3 at 8:00 AM.

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