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Not-for-Profit Accounting Conference

Description

This event is co-sponsored by the North Carolina Center for Nonprofits. 

 
Don’t miss the only state-wide conference focused specifically on addressing the unique needs of the nonprofit sector. This conference will discuss current trends, changes, and tools nonprofit accounting professionals need to best serve their organizations.

Note: This conference will also be available as a Live Streaming Webcast. Click here for registration information.

As an added bonus, optional pre- and post-conference workshops are available:

Pre-Tax Workshop: WKNFP122

Click here to register 

May 23, 2022- 8:30 am-4:15 pm
Panic Potpourri for Exempt Org Tax Advisors and Auditors
Speaker: Eve Borenstein


Post Audit Workshop: WKNFP222

Click here to register

May 25, 2022- 8:30 am-4:15 pm
Auditing Not-for-Profit Entities: Superior Skills for an Effective and Efficient Audit
Speaker: Marci Thomas

Both workshops require separate registration.
 


Objective

CPAs and others who serve not-for-profits will discuss current trends affecting not-for-profits, tools for solving problems, and resources to prepare professionals for the future of the not-for-profit sector.

Highlights

*Nonprofit Sector Trends, Laws, and Future, Cryptyocurrency , Cybersecurity

Who Should Attend

CPAs who work with nonprofit organizations, financial officers, board members, and staff of nonprofit organizations responsible for financial management and oversight

Required Knowledge

None

Advanced Prep

None

Event Speaker(s)

Mr. Brandon Adam Tutty, CPA ( CliftonLarsonAllen LLP, Raleigh, NC ), Mr. Aleksander Joseph Bevensee, CPA ( Elliott Davis, Charlotte, NC ), Ms. Marci S. Thomas, CPA, MHA ( Kaplan Inc., Tampa, FL ), Ms. Kristen Thoresen Hoyle, CPA ( Thomas Judy & Tucker, PA, Durham, NC ), Mr. Kevin Anthony Leder, CPA ( CliftonLarsonAllen LLP, Raleigh, NC ), Ryan Fox ( Engiven, Inc., Escondido, CA ), Justin Greene, CPA ( Engiven, Inc., Escondido, CA ), Steve Holroyd, CFE, CPA, MBA ( Tech Impact, Philadelphia, PA ), Vonna Laue, CPA ( NCACPA, Morrisville, NC ), Ms. Mig Murphy Sistrom, CPA, MAC ( Mig Murphy Sistrom, CPA, PC, Durham, NC ), Jennifer Rohen, JD ( CLA Charlotte, Charlotte, NC ), Kelsey Vatsaas, CPA, MBA ( CliftonLarsonAllen LLP, Minneapolis, MN ), Linda Widdop ( Tech Impact, Philadelphia, PA ), Jeanette Bax-Kurtz, III, CPA ( NCACPA, ), Mrs. Jordan Miller, CPA ( CliftonLarsonAllen LLP, Harrisburg, NC ), Ms. Gracie Johnson-Lopez ( Diversity & HR Solutions, Raleigh, NC ), Mr. David Heinen, JD ( NC Center for Nonprofits, Raleigh, NC ), Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

Additional Event Information

Accommodations
Grandover Resort & Conference Center
336-294-1800
1000 Club Road
Greensboro, NC 27407

Book your hotel reservation here.

Discounted Reservation Cut-off Date: May 2, 2022
Room Rate: $199/night + tax

Onsite Information
Registration begins at 7:15 am. Sessions begin at 8:05 am.

Download Your Materials Before You Arrive Onsite!
You may download your materials to a laptop, tablet, or e-reader, or print them. It’s up to you how you choose to view the materials. Printed materials will not be available on site. Downloading in advance is recommended.


Sessions

Tuesday, May 24, 2022 (8:05 am–9:05 am ET)

General #1: Nonprofit Sector Trends, Laws, and Future
Mr. David Heinen, JD ( NC Center for Nonprofits, Raleigh, NC ),

This session will include:

• An overview of trends in the nonprofit sector on the heels of two years of the COVID-19 pandemic.
• Highlights of recent state and federal laws affecting nonprofits.
• Updates on legislative developments that could impact nonprofits’ operations.
• Predictions for challenges and opportunities facing North Carolina nonprofits in the second half of 2022 and beyond.

Field of Study: Specialized Knowledge

Tuesday, May 24, 2022 (9:20 am–10:35 am ET)

1A: A&A Update
Jeanette Bax-Kurtz, III, CPA ( NCACPA, ),

Jeanette will review the latest accounting and auditing developments impacting those who prepare or audit NFP financial statements.

Session highlights will include:
• New SAS Suite: Includes New Auditors’ Report and Materiality
• FASB Accounting Standards Update (ASU) No. 2020-07 Presentation: Disclosures for In-Kind (Non-Cash) Transactions
• October 2021 issued SAS 145 : Understanding the Entity and Environment, Assessing the Risks of Material Misstatement

Field of Study: Auditing

Tuesday, May 24, 2022 (9:20 am–10:35 am ET)

1B: Church Accounting Through a 2-Way Mirror
Justin Greene, CPA ( Engiven, Inc., Escondido, CA ), Vonna Laue, CPA ( NCACPA, Morrisville, NC ),

Sometimes churches don’t ask for help as soon as they should or may not even realize they need help. There are some uniqueness’s to church accounting that even professionals that have served other industries will encounter when they offer their assistance. We’ll look at these differences, common mistakes, and how to help churches succeed in their accounting practices during this session. The presenters offer both an inside perspective and a professional external view on this topic.

Session outcomes to include:
• Identify specific accounting topics that are unique in the nonprofit or church niche.
• Understand where some churches struggle in their accounting systems and policies and
learn how to avoid those in your church or with your clients.
• Gain access to some tips that will help produce better financial awareness and reporting
within the leadership and boards of a church.

Field of Study: Accounting

Tuesday, May 24, 2022 (9:20 am–10:35 am ET)

1C: Nonprofit Employee Retention Credits: What, When, and How to Evaluate and Claim Eligible Credits
Mrs. Jordan Miller, CPA ( CliftonLarsonAllen LLP, Harrisburg, NC ), Jennifer Rohen, JD ( CLA Charlotte, Charlotte, NC ), Kelsey Vatsaas, CPA, MBA ( CliftonLarsonAllen LLP, Minneapolis, MN ),

Nonprofits across the country of all sizes are benefiting from the federal government’s Employee Retention Credit programs, one of the many economic relief options available to nonprofits and small businesses. While initially unavailable to organizations who also received PPP, the rules changed to allow organizations to pursue both, but many nonprofits are still unclear about if they are eligible, how to calculate credits amidst PPP and restricted grants, and what the process looks like to claim the credits.

Join this interactive session, where CLA nonprofit and ERC team members will share practical examples and answer questions on how to best help your organization access these critical resources.

Field of Study: Taxes

Tuesday, May 24, 2022 (9:20 am–10:35 am ET)

1D: Fiscal Sponsorship: Unique Collaboration Approaches for Nonprofits
Ms. Mig Murphy Sistrom, CPA, MAC ( Mig Murphy Sistrom, CPA, PC, Durham, NC ),

Fiscal sponsorship is more than just a “pass-through” arrangement. This session will address the key technical and operating implications of serving as a fiscal sponsor or having a fiscal sponsor for your program.

Some of the questions this session will answer include:
• Are fiscal sponsorships the same as agency transactions?
• How does the arrangement affect the nonprofit’s financial statements and tax reporting?
• What are the governance responsibilities of the sponsor?
• What are the advantages and disadvantages of such a relationship? Are there alternative
arrangements to consider?

Join this information-packed session to learn the options and decision factors.

Field of Study: Specialized Knowledge

Tuesday, May 24, 2022 (10:45 am–11:45 am ET)

2A: Topic 606: Rev Rec Deep Dive
Jeanette Bax-Kurtz, III, CPA ( NCACPA, ),

Session highlights will include:
•Exchange Transactions vs Contributions: To include ASU 2018-08 & Clarifying scope and Accounting Guidance for Contributions (received and made)
•Grant Revenue Recognition Illustration
•Disclosure Examples

Field of Study: Auditing

Tuesday, May 24, 2022 (10:45 am–11:45 am ET)

2B: Endowment Accounting
Mr. Kevin Anthony Leder, CPA ( CliftonLarsonAllen LLP, Raleigh, NC ), Mr. Brandon Adam Tutty, CPA ( CliftonLarsonAllen LLP, Raleigh, NC ),

Who doesn’t love a good gift, right? Endowments can be a great way to enhance an organization’s financial stability, create an ongoing source of income and provide an avenue for future gifts. But they don’t come without their challenges. This session will cover best practices in endowment accounting and donor reporting, and will also touch on the laws governing endowments in North Carolina. This session will also cover common audit issues noted when it comes to endowment funds and will walk through a few examples that might apply to your organization

Field of Study: Accounting

Tuesday, May 24, 2022 (10:45 am–11:45 am ET)

2C: The IRS' Incapacity Imperiling Exempt Organizations
Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

This session will provide background on what is and isn’t going “right” with the IRS in its intersection with EOs, and give multiple insights and tips on addressing the 3-E’s that the pandemic and the 2020 and 2021 filing seasons have generated.
The 3-E’s are:
• E-filing challenges
• Errors in the IRS’ Roster of Exempt Organizations
• Erroneous Notices

Field of Study: Taxes

Tuesday, May 24, 2022 (10:45 am–11:45 am ET)

2D: Cybersecurity: Keeping Your Private Stuff Private
Linda Widdop ( Tech Impact, Philadelphia, PA ),

During this presentation, we will provide a framework to understand the basics of cyber threats and provide some common (and low cost) methods to reduce exposure and keep your organization’s data protected from cyber criminals or accidental leakage.

Session topics and highlights include:
• Cyber Threat Overview
• Identifying Risks
• Reducing Exposure
• 4 Things Every Organization Should Do Now

Field of Study: Information Technology

Tuesday, May 24, 2022 (12:45 pm–2:00 pm ET)

3A: Audit Meets Automation
Mr. Aleksander Joseph Bevensee, CPA ( Elliott Davis, Charlotte, NC ),

A broad range of topics will be introduced during this session
Session highlights include:
• AI Tools Entering the Audit Industry
• What are the types, costs, and benefits?
• Embedded Audit Modules (Continuous Audit)
• Review feasibility, abilities, and limitations
• Financial vs. Non-financial Analytics
• Analysis of Ratios
• Identifying Key Metrics
• Vitals Signs of Organizations
• Common Errors when performing analytics
• Current Impacts of New Technology
• Visions of the Future

Field of Study: Auditing

Tuesday, May 24, 2022 (12:45 pm–2:00 pm ET)

3B: New Standards and Leases
Jeanette Bax-Kurtz, III, CPA ( NCACPA, ),

Some of the session topics:
• Transition from the Old Standard to New Standard
• Educate Clients and Users of the Financial Statements
• Reviewing Debt Covenants

Field of Study: Accounting

Tuesday, May 24, 2022 (12:45 pm–2:00 pm ET)

3C: Practical Landscape of ASU 2018-08
Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

Grantors’ making of a “restricted grant” brings a set of practical constraints to grantees as well as practical concerns as to when the grant is recognized for both qualifying distribution needs of private foundations and public charities’ revenue reporting. This season will detail the perspectives of grantors versus grantees in this realm to assist you in properly advising funders and distributees in their planning and reporting!

Field of Study: Taxes

Tuesday, May 24, 2022 (12:45 pm–2:00 pm ET)

3D: Cryptocurrency from Basics to Donations
Ryan Fox ( Engiven, Inc., Escondido, CA ), Justin Greene, CPA ( Engiven, Inc., Escondido, CA ),

Join us for this fascinating presentation on digital donations.

This session will be divided in three sections:
Section 1 topics:
* What is Block Chain
* What are Digital Assets and NFTs
Section 2 topics:
* What software is needed to give and receive
Section 3 topics:
What tax rules and reporting are needed for Crypto Giving

Field of Study: Specialized Knowledge

Tuesday, May 24, 2022 (2:10 pm–3:25 pm ET)

4A: Single Audit Update
Ms. Marci S. Thomas, CPA, MHA ( Kaplan Inc., Tampa, FL ),

With 2021 Compliance Supplement addendums issued and the 2022 Compliance supplement promised early, new programs, and requirements that seem to keep changing that affect both nor for profits and for profits as well, auditors and their clients are asking- Will this changes ever end? Although there are no guarantees about what will happen tomorrow, this session will provide you with the most up to date information available on the Single Audit. You won’t want to miss it.

Field of Study: Auditing

Tuesday, May 24, 2022 (2:10 pm–3:25 pm ET)

4B: Grant Evaluation Under ASU 2018-08
Ms. Kristen Thoresen Hoyle, CPA ( Thomas Judy & Tucker, PA, Durham, NC ),

Some of the key session highlights will include:
*Review of definitions
*Technical Presentations
*What are some pitfalls and problems?
*How do readers interpret them?

Field of Study: Accounting

Tuesday, May 24, 2022 (2:10 pm–3:25 pm ET)

4C: Disclosures on Endowments and DAFs
Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

In 2006, Congress defined “donor-advised-funds” (DAFs), set limits on what types of grants they can make, and prohibited benefits going to DAF donors/advisors. In 2008, the then-revised Form 990 for the first time required substantive reporting on endowment funds held by the filer. In 2016, Congress held hearings on Nonprofit College and University Endowments and then, via the 2017 Tax Cuts & Jobs Act, imposed a net investment tax on certain private colleges and universities that have nonexempt assets valued at $500k per student or more. Various incarnations in 2021 and 2022 of the Accelerating Charitable Efforts Act would define “types” of DAFs and mandate time-periods for their payouts. What’s the fuss and what’s the future here is the subject of this timely session!

Field of Study: Taxes

Tuesday, May 24, 2022 (2:10 pm–3:25 pm ET)

4D: Nonprofit CFO's - The Organizational Plate Spinner
Vonna Laue, CPA ( NCACPA, Morrisville, NC ),

Ever feel like your to do list will never be accomplished and now two crises came across your desk at the same time? While the CFO’s role is behind the scenes, if it isn’t accomplished well, it could literally stop the programs that are the mission of the organization. In this session, we will look at the responsibilities of a CFO in the nonprofit arena and how they can be prioritized for maximum effectiveness and still have a life.

Objectives:
1 – Understand the importance of a strong finance department and how to recruit, train, and retain employees.
2 – Consider how to effectively monitor and communicate the right financial information to key stakeholders.
3 – Process the breadth of the role and learn where to focus your time and energy as a CFO.

Field of Study: Specialized Knowledge

Tuesday, May 24, 2022 (3:45 pm–4:45 pm ET)

General #2: The Link Between Workplace Culture & Employee Retention: A Response to the Great Resignation
Ms. Gracie Johnson-Lopez ( Diversity & HR Solutions, Raleigh, NC ),

Toxic culture is the biggest factor pushing employees out the door during the Great Resignation. Organizations with a reputation for a healthy culture, experienced lower-than-average turnover during the first six months of the Great Resignation. The leading elements contributing to toxic cultures include failure to promote diversity, equity, and inclusion; workers feeling disrespected; and unethical behavior.
Other top predictors of attrition during the great resignation include:
* Job insecurity and reorganization
* High levels of innovation
* Failure to realize employee performance
* Poor response to Covid-19
During the session, we will cover four short-term steps for organizations to increase retention. Leaders who are serious about winning the war for talent during the Great Resignation and beyond must root out issues that contribute to a toxic culture.

Field of Study: Social Environment of Business


Share This Event

Event Vendor:NCACPA
Field of Study:Accounting, Auditing, Information Technology, Social Environment of Business, Specialized Knowledge, Taxes
Level: Update

Event Type:Conference
NASBA Instructional Method:Group Live
Event Code:CONNFP22


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Registration Fees

RegistrationEarly BirdRegular
NCACPA Member$285.00$335.00
Non-Member$385.00$435.00
Partner/Affiliate-Joint NCACPA and NC Center for Nonprofits Member$285.00$335.00
Partner/Affiliate-NC Center for Nonprofits Member$285.00$335.00
CPE Sponsors LogoThe North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.

For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.