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Not-for-Profit Accounting Conference

8:00 am–4:35 pm ET

# of CPE Credits

8

Description

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

Due to recommendations from the CDC surrounding COVID-19, this program will only be held virtually. Please see the sessions below that will be included in the agenda.

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

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

May 17: Single Audit and Yellow Book Update
May 19: Form 990 Tax Workshop
Workshop requires separate registration.

Objective

CPAs and other accounting professionals 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

* Contingency & Resiliency * Covid-19 Reporting Issues * Panel: Updating Internal Controls for Remote Environment * Fraud & 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)

Judy Enders, CPA, CETP, CFE ( CliftonLarsonAllen LLP, Minneapolis, MN ), Mac Lillard, CPA, CFE, CISA, CRISC, CITP, PCIP ( GRF CPAs & Advisors, Bethesda, MD ), Mrs. Jordan Miller, CPA ( CliftonLarsonAllen LLP, Harrisburg, NC ), Jada Monica Drew ( Social Designs Consulting, Greensboro, NC ), Melissa Musser, CPA, CITP, CISA ( GRF CPAs & Advisors, Bethesda, MD ), Ms. Karen Holbrook Rogers, CPA ( The Duke Endowment, Charlotte, NC ), Mr. James C Bales, CPA ( Children & Family Services Center, Charlotte, NC ), Andy Coe ( Convergent Nonprofit Solutions, Atlanta, GA ), Mrs. Melisa Fay Galasso, CPA ( The Association of International Certified Professional Accountants, Durham, NC ), Scott Hughes, CPA, CGMA ( Johnson Price Sprinkle PA, Asheville, NC ), Darren Hulem, CISA, Security+, PCIP ( GRF CPAs & Advisors, Bethesda, MD ), Ms. Alyssa Ann Federico, CPA ( Foundation For The Carolinas, Charlotte, NC ), Ms. Michele Nicole Melchior, CPA ( Grant Thornton, LLP, Charlotte, NC ), Ms. Mig Murphy Sistrom, CPA, MAC ( Mig Murphy Sistrom, CPA, PC, Durham, NC ), Ms. Marci S. Thomas, CPA, MHA ( Surgent McCoy CPE, LLC, Canton, GA ), Mr. David Heinen, JD ( NC Center for Nonprofits, Raleigh, NC ), Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

Additional Event Information

Technical Support
Contact NCACPA if you need assistance with your online program. For the quickest results, email the Online Learning Team at [email protected], and a team member will contact you shortly.

*NCACPA office hours are 9:00 am–5:00 pm ET. Online Learning Team members will be available via phone or email 30 minutes prior to the start of a live online program.


Sessions

Tuesday, May 18, 2021 (8:05 am–8:55 am ET)

General #1: What's Next for North Carolina's Nonprofit Sector?
Mr. David Heinen, JD ( NC Center for Nonprofits, Raleigh, NC ),

Over the past 14 months, Congress has passed several major COVID relief bills. During this session, we will provide updates of key nonprofit provision in these bills, including unemployment relief for reimbursing nonprofits, temporary tax law changes, and federal assistance programs that have helped nonprofits sustain their operations.

The session will also provide updates on pending legislation in the North Carolina General Assembly affecting nonprofit finances and operations, including proposals to modernize the state’s nonprofit corporation and charitable solicitation statutes, potential changes to sales tax laws affecting nonprofits, and legislation to help nonprofit members and boards use modern technology to take action.

Field of Study: Personal Development

Tuesday, May 18, 2021 (9:10 am–10:25 am ET)

1A: New SAS 134-143
Ms. Marci S. Thomas, CPA, MHA ( Surgent McCoy CPE, LLC, Canton, GA ),

Professional standards are changing with the times and the desire of the AICPA to move the profession into a new era where use of data analytics and artificial intelligence will play a key role in an audit. We are seeing changes already as the AICPA has recently issued standards that significantly modify the form of the independent auditor’s report. In addition, its Omnibus standard modifies several professional standards including those on related parties, consideration of fraud and the auditor’s communication to those charged with governance. The new auditing standard on employee benefit plan audits makes significant changes in the auditor’s report as well as other aspects of an employee benefit plan audit. Another revision, which has also affected the SSARs and SSAEs is a change to the definition of materiality. Other major revisions to professional standards include an updated standard on Audit Evidence and Auditing Accounting Estimates. This program will cover SASs 134 through 143.

Field of Study: Auditing

Tuesday, May 18, 2021 (9:10 am–10:25 am ET)

1B: Budgeting
Ms. Mig Murphy Sistrom, CPA, MAC ( Mig Murphy Sistrom, CPA, PC, Durham, NC ),

Coming Soon!

Field of Study: Accounting

Tuesday, May 18, 2021 (9:10 am–10:25 am ET)

1C: Making Friends with the 990's Schedules L and R
Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

This session will address the following “need to know” points of Schedules L and R:
 Three key Schedule L predicates: (a) the methodology that Schedule L employs in Parts II – IV to cast sunlight on the fact that an “Interested Person” (IP) engaged with the filer in either: loan arrangements; as the beneficiary of the filer’s grants or assistance; or via business transactions that exceeded de minimis thresholds; (b) the five categories by which IP status vests for purposes of these three parts; and (c) the dollar-amount thresholds applicable in Schedule L’s Part IV when disclosing “business transactions”
 What constitutes the provision of grants or assistance to an IP as well as an overview of the special rule educational institutions have that allows them to withhold the names of scholarship or fellowship recipients AND what reporting is required relating to loans outstanding with IP (the subjects of the L’s Parts III and II, respectively)
 Schedule R’s PRIMACY both in needing to FIND a filer’s related organizations (which of course requires knowledge of the underlying definitions here) and what is required when any such entity is a “controlled entity”, making the filer a “controlling organization” under Code Section 512(b)(13) which also is a factor in “new” Code section 4960

Field of Study: Taxes

Tuesday, May 18, 2021 (9:10 am–10:25 am ET)

1D: Evaluating and Selecting a Donor Database
Judy Enders, CPA, CETP, CFE ( CliftonLarsonAllen LLP, Minneapolis, MN ),

Fundraising professionals don’t need to be told that donors are more likely to support an organization or cause if they feel they understand the work the organization does and that you value their investment in that work. A donor database is one of the keys to effectively communicating and developing relationships with current and potential donors. With so many donor management and fundraising software systems to choose from it can be hard to decide which one is the best fit for your organization. There are endless features, options, and alternatives, it might be easy to pick one, but it is hard to pick the “right” one. This session will compare and contract several platform options and discuss considerations when doing your own research,

Field of Study: Specialized Knowledge

Tuesday, May 18, 2021 (10:40 am–11:40 am ET)

2A: How to Have a Successful Virtual Audit
Mrs. Jordan Miller, CPA ( CliftonLarsonAllen LLP, Harrisburg, NC ),

Has your financial statement audit been conducted the same way for the past 50 years? Where the auditor comes on-site for days (or maybe weeks!) at a time? And asks for a million invoices and bank statements and contribution support?

As with everything else, the pandemic has caused drastic changes in how the audit is being conducted. Changing from an in-person audit to almost a completely virtual audit can be daunting, however, in this session you will learn how to have a successful virtual audit (and maybe even have a little fun along the way)!

Field of Study: Auditing

Tuesday, May 18, 2021 (10:40 am–11:40 am ET)

2B: Endowment, UPMIFA, Disclosures
Ms. Alyssa Ann Federico, CPA ( Foundation For The Carolinas, Charlotte, NC ),

This session will discuss the accounting recognition and disclosures necessary for nonprofits with endowments. We will discuss how the recent financial reporting ASU impacts accounting for endowments, and will provide an overview of The Uniform Prudent Management of Institutional Funds Act (UPMIFA) and examples of footnote disclosures.

Field of Study: Accounting

Tuesday, May 18, 2021 (10:40 am–11:40 am ET)

2C: 990-PF
Ms. Michele Nicole Melchior, CPA ( Grant Thornton, LLP, Charlotte, NC ),

Private foundations continue to face significant compliance challenges. Michelle will provide you with an updated practical review of the Form 990-PF, discuss common transactions, pitfalls to watch for, and little understood reporting complexities.

Field of Study: Taxes

Tuesday, May 18, 2021 (10:40 am–11:40 am ET)

2D: Connecting "Dollars & Cents" to Diversity & Inclusion in the Workplace
Jada Monica Drew ( Social Designs Consulting, Greensboro, NC ),

Learn how to:
– Connect GAAP to inclusive workplace strategies
– Boost the effectiveness of client-facing interactions
– Enhance communication with clients

Field of Study: Specialized Knowledge

Tuesday, May 18, 2021 (12:40 pm–1:55 pm ET)

3A: Peer Review - Scoring Even When the Goalposts Keep Moving
Scott Hughes, CPA, CGMA ( Johnson Price Sprinkle PA, Asheville, NC ),

In this session, I will cover many of the significant changes taking place in peer review. We will cover current areas of focus, standards changes including those specific to nonprofit engagement performance, changes in administration, common deficiencies, the general process and timing, COVID impacts and helpful ideas about how to be successful in a process that is often intimidating to many of us. There is a lot to pack into 75 minutes, so hold on, it should be fun. (As much fun as a peer review can be.)

Field of Study: Auditing

Tuesday, May 18, 2021 (12:40 pm–1:55 pm ET)

3B: Accounting & Auditing Functional Expenses
Mrs. Melisa Fay Galasso, CPA ( The Association of International Certified Professional Accountants, Durham, NC ),

ASU 2016-14, Not-for-Profit Entities (Topic 958): Presentation of Financial Statements of Not-for-Profit Entities, requires all not-for-profit entities to present expenses by nature and function in one location. In this session, we will cover the major classifications of functional expenses as well as methods of allocation. We will also discuss implementation issues related to the adoption of ASU 2016-14. We’ll close with a review of audit procedures relating to functional expenses.

Field of Study: Accounting

Tuesday, May 18, 2021 (12:40 pm–1:55 pm ET)

3C: Lobbying Reporting, Schedule C
Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

This session will have two subparts:
First: an “easy to understand” introduction to the baselines driving each of the Schedule C, Part II’s two 501(c)(3) subparts; and
Second: a walk-through the data sought in each subpart, including for non-501(h)-electors, optics issues and for 501(h) electors a quick guide to understanding the “rules” behind identifying grassroots lobbying versus direct lobbying expenditures

Field of Study: Taxes

Tuesday, May 18, 2021 (12:40 pm–1:55 pm ET)

3D: Nonprofit Survival Using Outcomes-Based Fundraising
Andy Coe ( Convergent Nonprofit Solutions, Atlanta, GA ),

This session will focus on the transformational process used to move organizations from a charity mindset to one of sustainable investment. After the past year’s COVID-19 crisis, nonprofits are well aware that sustainability is not about writing a better grant or hosting a fantastic event. It’s about delivering outcomes and impact that people value in the short and long term. Effectively communicating this and re-assessing your fundraising efforts are the focus of this session.

Field of Study: Specialized Knowledge

Tuesday, May 18, 2021 (2:10 pm–3:25 pm ET)

4A: COVID Accounting & Auditing
Mrs. Melisa Fay Galasso, CPA ( The Association of International Certified Professional Accountants, Durham, NC ),

COVID19 has had a major impact on both accounting and auditing. We will examine how COVID is impacting the way audits are performed now and in the future. We discuss how to adapt to a remote audit and how professional skepticism must be enhanced in a virtual audit. We also review the impact on internal controls and a control reliance strategy. On the accounting side, the course addresses the impact of COVID on accounting standards including the delays issued by many standard setters. As CPAs continue to operate in a challenging environment and adapt to the “new normal” attendees will leave this course with a great overall review of what must be considered to be successful in this environment!

Tuesday, May 18, 2021 (2:10 pm–3:25 pm ET)

4B: Remote Working: The Good, The Bad & The Controls
Mr. James C Bales, CPA ( Children & Family Services Center, Charlotte, NC ), Ms. Alyssa Ann Federico, CPA ( Foundation For The Carolinas, Charlotte, NC ), Ms. Karen Holbrook Rogers, CPA ( The Duke Endowment, Charlotte, NC ),

Join us for a panel discussion about “working from home” following a year like no other. What is working well for your team? What failed miserably? In the beginning, what do you wish you had been more prepared to do? Did your auditors throw the book at you this year? How much Zoom is too much Zoom? What will you keep doing post-pandemic? Where do we go from here?

Field of Study: Taxes

Tuesday, May 18, 2021 (2:10 pm–3:25 pm ET)

4C: 2020 Form 990-T Considerations
Ms. Eve Rose Borenstein, JD ( Eve Rose Borenstein, LLC, Minneapolis, MN ),

UBIT “silo-ing” required by the addition of Code section 512(a)(6) finally has Regulations out; for the 2020 Form, Schedule M has become Schedule A, NAICS’ “sector codes” (2 digits) drive how “separate trades or businesses” are identified, and e-filing of the -T may actually be available at Conference time!

In this fast-paced session, Eve will describe the “new world order” here and how advisors can most easily communicate with organizations who conduct unrelated trades/businesses, as well as those who have to deal with investment income “sprayed” from partnerships.

Field of Study: Taxes

Tuesday, May 18, 2021 (2:10 pm–3:25 pm ET)

4D: The Latest from Raleigh and Washington: Legislative and Regulatory Developments Affecting Nonprofits
Mr. David Heinen, JD ( NC Center for Nonprofits, Raleigh, NC ),

Over the past 14 months, Congress has passed several major COVID relief bills. During this session, we will provide updates of key nonprofit provision in these bills, including unemployment relief for reimbursing nonprofits, temporary tax law changes, and federal assistance programs that have helped nonprofits sustain their operations.

The session will also provide updates on pending legislation in the North Carolina General Assembly affecting nonprofit finances and operations, including proposals to modernize the state’s nonprofit corporation and charitable solicitation statutes, potential changes to sales tax laws affecting nonprofits, and legislation to help nonprofit members and boards use modern technology to take action.

Field of Study: Accounting (Governmental)

Tuesday, May 18, 2021 (3:40 pm–4:30 pm ET)

General #2: Ways COVID-19 is Reshaping Cybersecurity, Privacy and Fraud Risk for Nonprofits
Darren Hulem, CISA, Security+, PCIP ( GRF CPAs & Advisors, Bethesda, MD ), Mac Lillard, CPA, CFE, CISA, CRISC, CITP, PCIP ( GRF CPAs & Advisors, Bethesda, MD ), Melissa Musser, CPA, CITP, CISA ( GRF CPAs & Advisors, Bethesda, MD ),

Cybersecurity and privacy concerns have become major issues for businesses and nonprofits looking to protect their information from outside parties. As time spent working from home as a result of the COVID-19 pandemic continues for many workers, these concerns have only intensified.

Join our risk and cybersecurity experts for an interactive discussion on the constantly changing cyber landscape and the latest methods to protect your organization from virtual threats. This session covers online threats specific to C-Suites, methods to evaluate if your organization is taking privacy seriously and best practices for successful privacy risk management.

Key takeaways:

• Understand the cybersecurity & fraud landscape and how you should be protecting your organization from threats
• Emerging cybersecurity concerns as a result of the pandemic and work-from-home virtual environments
• Overview of regulatory environment
• Understand why data privacy is a critical concern to C-Suites

Field of Study: Information Technology


Share This Event

Event Vendor:NCACPA
Field of Study:Accounting, Accounting (Governmental), Auditing, Information Technology, Personal Development, Specialized Knowledge, Taxes
Level: Overview
Other:New Course

Event Type:Webcast
NASBA Instructional Method:Group Internet Based
Event Code:WCNNFP21

Registration Fees

RegistrationEarly BirdRegular
NCACPA MemberN/A$270.00
Non-MemberN/A$370.00
Other CPA State Society MemberN/A$270.00
Partner/Affiliate-Joint NCACPA and NC Center for Nonprofits MemberN/A$270.00
Partner/AffiliateNC Center for Nonprofits MemberN/A$270.00
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.