Don't Overlook O--The Other Information Schedule iconDon't Overlook O--The Other Information Schedule

Don't Overlook O--The Other Information Schedule

Jun 7, 2021 3:40pm ‐ Jun 7, 2021 4:30pm

Identification: NOT2116

This session will focus on using narratives, facts and statistics to "brag" about your organization and successfully position yourselves to donors, grantors and the public. This course will also cover board fiduciary responsibilities and the effective use of Schedule O
Learning Objectives:
  • Understand the effective use of Schedule O: what must, what must not, and what should be on the Schedule as well as board fiduciary responsibilities for 990 content
  • Identify tactics to use Schedule O to successfully position your organization to donors, grantors, and the public
What? My Bonds Are No Longer "Safe" ? iconWhat? My Bonds Are No Longer "Safe" ?

What? My Bonds Are No Longer "Safe" ?

Jun 7, 2021 3:40pm ‐ Jun 7, 2021 4:30pm

Identification: NOT2117

We are living in an unprecedented historic time that hardly any economist would have predicted even 3-5 years ago - one of near zero interest rates. This poses a double-edged challenge to investors, especially to those non-profit organizations that have always banked on the safety of bonds as their armor against market declines. Even those who depended on bonds for generating income to support operating budgets or simply for earning yield are scratching their heads. There's nowhere to go without the added risks of a new direction. How can the investors navigate this treacherous "safe" investment? What options are available to avoid the drag of bonds that are producing almost zero income? Perhaps what one needs is a different lens.
Learning Objectives:
  • Analyze the trade-offs of investing in bonds in a near zero interest rate environment.
  • Determine how and where to find safety and income when bonds no longer provide the safe ballast.
How Do I Record This? Practical Case Studies Recording Complicated Funding iconHow Do I Record This? Practical Case Studies Recording Complicated Funding

How Do I Record This? Practical Case Studies Recording Complicated Funding

Jun 7, 2021 3:40pm ‐ Jun 7, 2021 4:30pm

Identification: NOT2118

This session will walk through several case studies in applying GAAP to complicated funding arrangements.  The session will start with determining which GAAP to apply (exchange, contribution, other), timing and amounts of revenue recognition, and classification as unrestricted or donor-restricted for contributions and timing and amounts of release of restriction.
Learning Objectives:
  • Understand how to consider the type of contribution received
  • Determine the accounting treatment for complicated funding arrangements
BACKFIRED: Fraud at the NRA and Other Recent Cases (Sponsored by Your Part-Time Controller, LLC - YPTC) iconBACKFIRED: Fraud at the NRA and Other Recent Cases (Sponsored by Your Part-Time Controller, LLC - YPTC)

BACKFIRED: Fraud at the NRA and Other Recent Cases (Sponsored by Your Part-Time Controller, LLC - YPTC)

Jun 8, 2021 8:30am ‐ Jun 8, 2021 9:20am

Identification: NOT2119

Jennifer Alleva, Your Part- Time Controller, LLC Managing Partner, in conversation with Danny Hakim, New York Times Investigative Reporter, takes us through recent nonprofit fraud cases: what happened, and what you need to know to prevent the same for your nonprofit. Participants will learn red flags to look for and tips for strengthening internal controls at their organizations.

Learning Objectives:
  • Analyze recent fraud cases to answer the question “What Happened?”
  • Review fraud red flags
  • Discuss tips for strengthening internal controls at your nonprofit organization
Category: Concurrent Session Online
The Economics of Outsourcing Your Back Office (Sponsored by Marcum) iconThe Economics of Outsourcing Your Back Office (Sponsored by Marcum)

The Economics of Outsourcing Your Back Office (Sponsored by Marcum)

Jun 8, 2021 8:30am ‐ Jun 8, 2021 9:20am

Identification: NOT2120

Outsourcing can offer nonprofits access to a range of professionals at all skill levels, beyond what many organizations can afford to hire directly. Having this expertise available can reduce the management and administrative workload of executive directors. This educational session, featuring case examples, will illustrate how outsourcing works, why it works, and when it should be seriously considered.
Learning Objectives:
  • Learn the red alarm signals that tell you it’s time to do better
  • Learn the impacts of not finding better solutions for back‐office needs
  • Learn how to evaluate outsourced back‐office services
  • Learn what success looks like in an outsourced service model
Category: Concurrent Session Onsite and Online
Be Aware – How to Prepare for and Avoid the Pitfalls of State Charitable Solicitation Regulation (Sponsored by Perlman Compliance Group) iconBe Aware – How to Prepare for and Avoid the Pitfalls of State Charitable Solicitation Regulation (Sponsored by Perlman Compliance Group)

Be Aware – How to Prepare for and Avoid the Pitfalls of State Charitable Solicitation Regulation (Sponsored by Perlman Compliance Group)

Jun 8, 2021 8:30am ‐ Jun 8, 2021 9:20am

Identification: NOT2121

State charitable solicitation registration compliance is essential to protecting your organization’s ability to fundraise. For the organizations and the accountants who collaborate with them, this session will dig deeper into the regulations governing state charitable solicitation and explore the traps that may trip up even the most compliant. Tracy Boak, a Partner at Perlman & Perlman, a law firm dedicated to nonprofit law, will share her experiences in representing organizations before state charity regulators and discuss how to recognize the traps to avoid them, and how to respond if the regulators come asking for more.

Category: Concurrent Session Online
Strategy Meets Standards: Turning Accounting Standards into Innovation (Sponsored by CliftonLarsonAllen - CLA) iconStrategy Meets Standards: Turning Accounting Standards into Innovation (Sponsored by CliftonLarsonAllen - CLA)

Strategy Meets Standards: Turning Accounting Standards into Innovation (Sponsored by CliftonLarsonAllen - CLA)

Jun 8, 2021 8:30am ‐ Jun 8, 2021 9:20am

Identification: NOT2122

Several FASB accounting standards have gone into effect over the past two years that require new or significantly more complex disclosures on non-profit financial statements. The standards covering liquidity, functional expenses by nature, grants and contributions, revenue recognition, and gifts-in-kind are all opportunities for innovation. Instead of seeing these new standards as merely compliance requirements, this session explores how to use them to develop better financial strategies and practice for non-profits. Join us to learn how to use FASB guidelines to tell your financial story in the most creative, sophisticated way. Learn enough about accounting to avoid being a victim of the accounting.

Category: Concurrent Session Online
Keep Calm and Assess Your Risk with ERM (Sponsored by GRF) iconKeep Calm and Assess Your Risk with ERM (Sponsored by GRF)

Keep Calm and Assess Your Risk with ERM (Sponsored by GRF)

Jun 8, 2021 8:30am ‐ Jun 8, 2021 9:20am

Identification: NOT2123

Enterprise Risk Management (ERM) is more important than ever – is your organization onboard? Join nationally-recognized nonprofit risk experts who will present the many lessons learned by nonprofits and associations during the COVID-19 pandemic. Learn how ERM helped organizations navigate and survive during the unprecedented crisis.

Learning Objectives:
  • Understand what What is Enterprise Risk Management (ERM), and why Nonprofits should care.
  • Discuss the current State of Nonprofit Risk Oversight
  • Explain how to Identify Risks to Your Mission/Objectives/Strategic Plan, and How to Assess the Overall Risk and Develop a Practical Response
  • Real-world ERM examples and best practices used at AARP
Category: Concurrent Session Online
Gifts-in-Kind: Gearing Up for Greater Transparency (ASU 2020-07) iconGifts-in-Kind: Gearing Up for Greater Transparency (ASU 2020-07)

Gifts-in-Kind: Gearing Up for Greater Transparency (ASU 2020-07)

Jun 8, 2021 9:35am ‐ Jun 8, 2021 10:50am

Identification: NOT2124

The session will focus on FASB's ASU 2020-07 on contributed nonfinancial assets, which will require separate presentation and enhanced disclosures in this area, beginning with FY 2021-22, with comparative information for FY 2020-21. We will talk about the new requirements, give examples of how to satisfy those requirements and best "tell the story" of an organization's activities here (building upon current best practices), and provide implementation tips. We will also take the opportunity to reinforce key considerations in valuing GIKs, especially donated pharmaceuticals, focusing on current guidance/ best practices, as well as potential additional educational guidance the FASB staff will be working on in the coming months.
Learning Objectives:
  • Understand the requirements of ASU 2020-07
  • Understand how to implement ASU 2020-07
Compliance Auditing and COVID 19 - Lessons Learned iconCompliance Auditing and COVID 19 - Lessons Learned

Compliance Auditing and COVID 19 - Lessons Learned

Jun 8, 2021 9:35am ‐ Jun 8, 2021 10:50am

Identification: NOT2125

In reaction to the pandemic, the influx of new federal financial assistance into non-federal entities  has been unprecedented impacting  the Uniform Guidance audit landscape in a meaningful way.  Join us to discuss lessons learned as we wrap up the first year of auditing COVID 19 awards and prepare for the next.
Learning Objectives:
  • Evaluate the impact of COVID 19 awards on your Single Audit
  • Identify lessons learned that will inform our 2021 audits