The tax laws keep changing and nonprofit entities must continue to adjust to new rules. Fund raising may be helped by more generous temporary charitable deduction rules. But the IRS attack on syndicated contribution easements continues. This program will also include changes to ASU 2016-14, Presentation of Financial Statements of Not-for-Profit Entities, and ASU 2018-08, Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made. This program will also provide an overview of other recent standards issued and projects in progress that impact Not-for-Profit entities.
Auditing update. Crypto currency and the nonprofit. FASB update. Not-for-Profit tax update.
Practitioners and members in industry responsible for accounting and financial reporting for nonprofit and governmental entities.
Understand current developments in tax, accounting and auditing arenas affecting nonprofits, as well as in the overall business and social environment that affect their ability to accomplish their mission. Identify key ethical issues that may be encountered by nonprofit organizations, its leaders and employees, as well as their donors. Understand the emergence of “Crypto Currency” and how this new development Impacts nonprofit organizations in how they relate to their donors and how they manage their finances and their investment strategies. Learn how Covid 19 and its variants have impacted nonprofits and their relationship with the government, donors and beneficiaries of their services.
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.
Non-Member Price $300.00
Member Price $250.00