Effective Internal and External Financial Reporting at Nonprofits

Jun 10, 2019 1:05pm ‐ Jun 10, 2019 2:20pm

Identification: NOT1903

This session will examine methods of effective internal and external financial reporting at nonprofits, with a focus on the content and methods of financial reporting to the board, senior management and outside stakeholders. We will cover topics on ratio analysis, board reporting, cash and liquidity information and profit and loss by program. In addition, we will discuss what is relevant financial information to analyze the financial condition for effective decision making.

  • Identify methods for effective external financial reporting and how to apply effective internal financial reporting tools for the board of directors and senior management.
  • Evaluate key elements of analysis and reporting using ratio analysis, bench marking and profit and loss analysis for effective financial reporting.
  • Select sources of relevant financial data.

Single Audit Update

Jun 10, 2019 1:05pm ‐ Jun 10, 2019 2:20pm

Identification: NOT1904

This session will provide an overview of what is happening in the single audit arena. You will learn about the: 2019 OMB Compliance Supplement; latest Uniform Guidance and single audit developments, news from the Governmental Audit Quality Center; and the single audit landscape looking forward.

  • Evaluate the 2019 Compliance Supplement
  • Analyze the latest single audit developments
  • Determine expected future single audit activities

Tax Confidential: Issues Under the Radar

Jun 10, 2019 1:05pm ‐ Jun 10, 2019 2:20pm

Identification: NOT1905

Over the last 1.5 years, we've all been focused on the TCJA, but there have been other developments impacting Non-Profits. This session will discuss them.

  • Determine change of law risks
  • Analyze trends in tax policy
  • Distinguish new laws other than TCJA

Future Finance: Strategic Skills for the 21st Century

Jun 10, 2019 1:05pm ‐ Jun 10, 2019 2:20pm

Identification: NOT1906

The rate of change will never be slower than it is today! Unfortunately, what got you here won't keep you here. It isn't enough to be a technical expert. The future of finance is strategic - becoming a value-added partner to your organization, your constituents, and your donors. Successful organizations need a forward-thinking finance team to strategically navigate the future. Do you have what it takes to guide your organization into the future? Learn the top ten skills to be strategic, successful, and future-ready now! Become distinct or become extinct!

  • Recognize that the role of finance is undergoing historic transformation
  • Identify the top 10 skills to be strategic, successful and future ready
  • Determine how to become a value added partner to key constituents

How Do I Implement That?

Jun 11, 2019 6:00am ‐ Jun 11, 2019 6:50am

Identification: NOT1909

Are you aware of the FASB standards that will impact nonprofit financial statements in the next year? Do you or your clients have an implementation plan? Join this session as industry experts walk you through the standards that will be effective in the next year. To set you up for success, we will discuss tips on how to plan for implementation.

  • Identify FASB standards that will be effective in the next year
  • Formulate strategies regarding the efficient and effective implementation of upcoming standards

New Data Collection Form and FAC Update

Jun 11, 2019 6:00am ‐ Jun 11, 2019 6:50am

Identification: NOT1910

The Federal Audit Clearinghouse has released the new 2019 Data Collection Form. This session will provide what has changed on the form and the FAC system.

  • Identify changes to the Data Collection Form and FAC (IDES) collection system
  • Determine the common issues related to the recent changes

Supporting Organizations

Jun 11, 2019 6:00am ‐ Jun 11, 2019 6:50am

Identification: NOT1911

Normally relegated to the final 5 minutes of a public support discussion, supporting organizations finally have their moment in the sun. This session is deep dive into the four types of 509(a)(3) supporting organizations. In this session, we will learn about what makes each type of supporting organization unique and learn how to spot a supporting org. We will separate fact from fiction related to restrictions of supporting organization funding and operations. Finally, we will walk through the organization and operations test, and understand how these fit into reporting on Schedule A. We will walk through Schedule A to analyze its reporting quirks, trick questions and most common pitfalls.

  • Evaluate the different structures of supporting organizations (Type I, II, III-FI and III-NFI)
  • Understand the limitations that supporting organizations face when it comes to funding and operations
  • Apply the structures to Schedule A to properly address supporting organization questions

IRS Audits of Nonprofits from A to Z

Jun 11, 2019 6:00am ‐ Jun 11, 2019 6:50am

Identification: NOT1912

Many in not-for-profit accounting leadership are concerned with the potential for an IRS examination or audit. All this talk about "data-driven decision making" and numerous tax law changes has us on edge. What are your organization's chances of getting selected for an IRS audit? What happens if you are selected? How will the IRS contact and communicate with your organization? What is a "correspondence audit?" What if they find errors or problems? What "taxpayer rights" do we have? All this and more will be covered in this session.

  • Distinguish between the different types of audits/examinations the IRS performs
  • Recognize criteria and procedures the IRS utilizes in their "case selection model" including data-driven decision making
  • Identify potential issues on Form 990 that may cause "issues" upon IRS exam

Metrics for Mission Impact

Jun 11, 2019 6:00am ‐ Jun 11, 2019 6:50am

Identification: NOT1913

Does your not-for-profit measure progress against your mission? Quantifying and reporting this information to constituents can be tricky. During this session, you will learn trade secrets of high performing not-for-profits using Charity Navigator's recommended governance metrics.

  • Identify the principles and mechanics of building meaningful metrics
  • Select metrics that measure financial health and show that resources are being used effectively
  • Choose indicators that measure mission impact
  • Determine ways to present the information so it is easily understood by your organizations stakeholders

Modeling Your NFP's Financial Future

Jun 11, 2019 6:00am ‐ Jun 11, 2019 6:50am

Identification: NOT1914

Does your organization have a tool or set of tools to project what your organization's finances might look like down the road? Is your only answer to this question "A Budget"? Financial modeling is a practice that can help you look beyond your one-year budget horizon and to play out scenarios that will help you plan for the longer-term. In this session learn about how to think about, build, and use these tools within your organization.

  • Identify a set of tools that can help your organization project its financial position beyond the annual budget process
  • Analyze possible outcomes through scenario analysis
  • Use tools that will effectively allow you to forecast your revenue and expenses enabling long term decision making
  • Determine how you can effectively use financial modeling to predict your organization's future financial health