Nonprofit Conference (E2412230)

Welcome message from NJCPA CEO AJ Johnson

8-9:15 a.m.
FASB Update (1.5 AA)
Jeff Mechanick, Assistant Director - Financial Accounting Standards Board
This session will provide updates on the most important developments in GAAP affecting nonprofits and share what’s on the horizon to help keep you ahead of the curve.

9:30-10:20 a.m.
AI for Nonprofits (1 SK)
Dr. Sean Stein Smith, CPA, CFE, CGMA, CMA, DBA – Lehman College
Artificial Intelligence (AI) is transforming the nonprofit sector, offering new ways to streamline operations, enhance fundraising, and increase program effectiveness. In this session, learn how to harness practical AI tools and strategies to automate administrative tasks and analyze data for better decision-making.

10:30-11:20 a.m.
Breakout Sessions

1A. Single Audit Update (1 AA)
Catherine Syslo, CPA – CohnReznick
Topics will include important information from the 2024 Compliance Supplement, changes to the uniform guidance and other important single audit reminders, updates and best practices.

1B. Form 990-PF Overview (1 TX)
Joseph Ali, CPA, CGMA and Tania Miranda, CPA – PKF O’Connor Davies
Review IRS Form 990-PF and gain a better understanding into the intricacies of the form filed by private foundations. The session will provide a comprehensive page-by-page walk-through of the form; a discussion on self-dealing; common errors; and tips for keeping foundations and their trustees in compliance.

11:20-11:50 a.m.
Lunch Break

11:50 a.m.-12:40 p.m.
Breakout Sessions (Choose One)

2A. Common Financial Statement Errors (1 AA)
Alex Buchholz, CPA, M.B.A., CGMA - PKF O'Connor Davies
Explore the most common financial statement errors that organizations encounter, from incorrect classifications and misstatements to compliance issues. Real-world examples will assist in identifying red flags, avoiding common pitfalls and ensuring your financial statements accurately reflect your organization's financial health.

2B. Common Errors on Form 990 (1 TX)
Brian Yacker, CPA, JD - Baker Tilly
In this session, we will highlight the most significant blind spots in Form 990 that our team has identified through the preparation of approximately 1,000 forms annually. These include obvious red flags, inconsistent reporting across the form, errors in calculating fundraising expenses, failure to report new program service activities, incorrect calculations of program service revenue, misunderstanding key definitions, inadequate documentation of insider compensation, improper calculation of unrelated business income, and overlooking crucial public support concepts.

12:50-1:40 p.m.
Navigating the Legal Landscape: Key Updates and Emerging Issues in Nonprofit Compliance (1 SK)
Brett Harris, Esq. - Wilentz, Goldman & Spitzer, P.A.
Details coming soon

1:50-2:40 p.m.
Nonprofit Industry Developments (1 AA)
Joe Arnone, CPA, CGMA – CohnReznick
This session will provide an overview of the trends and challenges faced by the nonprofit sector. Understand key accounting and operational developments through 2024 and leading into 2025 so that you can prepare, advise and adapt to your clients’ or organization’s needs.

2:45-4 p.m.
Accounting Pipeline Strategies: A Look Forward (1.5 SK)
Moderator: Don Meyer, CAE – NJCPA
Lexy Kessler - Vice Chair – AICPA, Mid-Atlantic Managing Partner - Aprio
Joseph Hunt, CPA - Emerging Leaders Chair and Assurance Manager - CliftonLarsonAllen
Collaborative groups of CPAs from companies and organizations of all sizes, academia, regulatory bodies and professional associations are developing ideas and strategies that all stakeholders can implement to help grow the pipeline of accounting students, exam candidates and future CPAs. Join this session to hear ideas on how the profession can turn recommendations into actions that will resonate with high school and college students, educators and employers to keep the CPA profession growing.

Attendees will have access to to watch all conference sessions on demand for thirty days after the event concludes. On demand sessions do not qualify for CPE