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Date / Time / Location

Thursday, December 6, 2018
8:00 AM - 4:30 PM
Registration: 7:30 AM

Pines Manor2085 State Highway 27
Edison, NJ 08817
732-287-2222

CPE Credits

  • 8.00 CPE Credits in MC

Package Pricing

In-Person Registration (E-Materials)
  • $269.00 - Member
  • $369.00 - Non Member
New for 2018! Attend this conference virtually.
  • $269.00 - Member
  • $369.00 - Non Member

Qualifies For

  • Yellow Book
Nonprofit organizations are grappling with a recovering economy and an increasingly complex compliance and regulation responsibilities.

Designed For

Brought to you by the Nonprofit Interest Group. The NJCPA Nonprofit Interest Group is a resource for accounting and auditing issues affecting Not-for-Profit organizations providing interpretations of new standards through education and roundtables and serving as a liaison between the NJCPA and industry, government and other-related organizations.

Thank you to the 208 Nonprofit Conference Planning Committee
Catherine Syslo, CPA (Chair)
Amy Y. Both, CPA
Peter E. Herbst, CPA
James P. Mulroy, CPA, CGMA, CGFM
Kathleen F. Powers, CPA
Jacalyn L. Schwartz, CPA

Benefits

Attend this conference, led by national industry experts, and get the tax, compliance, accounting & auditing, and governance updates you need to better serve your nonprofit clients.

Highlights

7:30-8:00 a.m.
Registration, Breakfast, and Welcome


8-9:15 a.m.
Nonprofit Update (AA)

Louis J. Mezzina, CPA - KPMG
Not-for-profit organizations are frequently in the news. Examine headlines to understand what drives the stories and discover key takeaways. Then, dive into the accounting, auditing and financial reporting of nonprofits.

9:20-10:35 a.m.
Grants and Contracts for Not-for-Profits (AA)

Richard A. Cole, CPA - Financial Accounting Standards Board (FASB)

This session will provide an overview of the new Accounting Standard Update (ASU) 2018-08, Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made. The session will explain the requirements and provide examples for application of the new standard.

10:35-10:50 a.m.
Morning Break


10:50-11:40 a.m.
Financial Statements, Reporting Requirements, and Practical Implementation (AA)

Alexander K. Buchholz, CPA, MBA, CGMA – PKF O’Connor Davies, LLP

Explore the main provisions of FASB’s new financial reporting model (ASU 2016-14), including simplification of net assets classifications, required disclosure about an organization’s assessment of the availability of liquid assets for future operating purposes, required presentation of an organization’s expenses by function and natural class, enhanced disclosures for endowment funds and key components for proper recognition of revenue. Practical implementation of the new ASU 2016-14 will also be discussed as well.

11:40 a.m.-12:40 p.m.
Lunch


12:40-1:55 p.m.
Breakout Sessions (Choose One)

1A. The 2018 Yellow Book and a Single Audit Update (AA)
Allen L. Fetterman, CPA, MBA – Loscalzo Institute

More nonprofit entities are becoming subject to audits conducted in accordance with Government Auditing Standards, known as “The Yellow Book”. All single audits must conform to the Yellow Book standards. In this session, you will learn the requirements of the 2018 edition of The Yellow Book, how it differs from the previous edition, and how Yellow Book standards relate to generally accepted auditing standards. Topics include independence, CPE, internal control and waste and abuse. This session will also include a brief update on single audit issues.

1B. Not-for-Profit Tax Update (TX)
Magdalena M. Czerniawski, CPA, MBA and Robert Lyons, CPA - Marks Paneth LLP
This session will cover the new provisions enacted by TCJA that affect not for profit organizations as well as 990 changes.

1C. Governance of Nonprofits (SK)
Brett Harris, Esq. - Wilentz, Goldman & Spitzer
Learn best practices for establishing long-term governance policies/procedures as well as dealing with “at-the-moment” issues. Topics to be discussed include:
  • Board operations – responsibilities, manual, fiduciary duties, conflicts of interest
  • Committees – structure and composition, types
  • Documents – incorporation, bylaws, compliance
  • Mission – defining, 1023, 990
  • Ethics & Confidentiality
  • State and Federal Regulations
1:55-2:05 p.m.
Afternoon Break


2:05-3:20 p.m.
Breakout Sessions (Choose One)

2A. Internal Control Considerations in a Single Audit (AA)

Allen L. Fetterman, CPA, MBA – Loscalzo Institute
The federal government study released in 2007 disclosed that a large percentage of single audits were deficient. Many of the deficiencies had to do with internal controls over compliance. With the upcoming federal study of the quality of single audits, mandated by OMB’s Uniform Guidance (UG), auditors must make certain that they understand and consider the single audit requirements concerning internal controls. Topics include understanding internal control over compliance, testing internal control over compliance, evaluating the results of those tests, documentation and reporting.

2B. Private Foundations and Self-Dealing (TX)
Magdalena M. Czerniawski, CPA, MBA and Robert Lyons, CPA - Marks Paneth LLP

This session will cover common self-dealing mistakes and how to avoid them.

2C. NFP Financial Statement Analytics (SK)

Brad E. Muniz, CPA, and Tara Del Gavio, CPA - Sobel & Co. LLC
Nonprofits can rely on data to support both decision making and evaluation. Opportunities for leveraging data include:
  • Predictive analytics in audits
  • Analytic review of Nonprofit Financial Statements
  • Program Operation Analysis
  • Donor/Fundraising Analytics
  • Analytic Review of Nonprofit 990
3:20-3:40 p.m.
Afternoon Break


3:40-4:30 p.m.
Optimizing Audit Technology in the Not-for-Profit Industry (AA)

Brad Caruso, CPA, CFE – WithumSmith+Brown, PC

Technology is constantly changing and with that change a need arises to reevaluate how we approach auditing. We are seeing more electronic transaction documentation and less paper. New technologies arrive every week and we need to be smart about how to use them. Clients want more data analysis and conclusions on the data. Regulations are starting to change and many discussions are being held to continually improve our profession. In order to stay ahead of this evolution, we need to understand and develop new techniques in auditing. This course will cover basic knowledge on data analytics with broad application and offer detailed practical guidance and illustrations.

Additional Notes

Yellow Book Qualification
This conference qualifies for Yellow Book CPE credits. Yellow Book requires an auditor to complete, every two years, at least 80 hours of CPE that directly enhances the auditor’s proficiency to perform audits and/or attestation engagements. At least 24 of the 80 hours should be in subjects related to governmental auditing, the governmental environment, or the specific or unique environment in which the audited entity operates. At least 20 hours of the 80 should be completed in any 1-year period of the 2-year period.
Pre-Registration Closed

Online pre-registration for this event is now closed.

12:40 PM to 1:55 PM
1A. 2018 Yellow Book and Single Audit (AA)

More nonprofit entities are becoming subject to audits conducted in accordance with Government Auditing Standards, known as “The Yellow Book”. All single audits must conform to the Yellow Book standards. In this session, you will learn the requirements of the 2018 edition of The Yellow Book, how it differs from the previous edition, and how Yellow Book standards relate to generally accepted auditing standards. Topics include independence, CPE, internal control and waste and abuse. This session will also include a brief update on single audit issues.

 

Credits

  • 1.50 Credits of Category AA

12:40 PM to 1:55 PM
1B. Not-for-Profit Tax Update (TX)

This session will cover the new provisions enacted by TCJA that affect not-for-profit organizations as well as 990 changes.

Instuctor(s)

Credits

  • 1.50 Credits of Category TX

12:40 PM to 1:55 PM
1C. Governance of Nonprofits (SK)

Learn best practices for establishing long-term governance policies/procedures as well as dealing with “at-the-moment” issues. Topics to be discussed include:

·         Board operations – responsibilities, manual, fiduciary duties, conflicts of interest

·         Committees – structure and composition, types

·         Documents – incorporation, bylaws, compliance

·         Mission – defining, 1023, 990

·         Ethics & Confidentiality

·         State and Federal Regulations

 

Instuctor(s)

  • Brett Harris, Esq.
    Business Nonprofit and Technology Attorney for Wilentz, Goldman & Spitzer

Credits

  • 1.50 Credits of Category SK

2:05 PM to 3:20 PM
2A. Internal Control Considerations (AA)

The federal government study released in 2007 disclosed that a large percentage of single audits were deficient. Many of the deficiencies had to do with internal controls over compliance. With the upcoming federal study of the quality of single audits, mandated by OMB’s Uniform Guidance (UG), auditors must make certain that they understand and consider the single audit requirements concerning internal controls. Topics include understanding internal control over compliance, testing internal control over compliance, evaluating the results of those tests, documentation and reporting.

Credits

  • 1.50 Credits of Category AA

2:05 PM to 3:20 PM
2B. Private Foundations and Self-Dealing (TX)

This session will cover common self-dealing mistakes and how to avoid them.

Instuctor(s)

Credits

  • 1.50 Credits of Category TX

2:05 PM to 3:20 PM
2C. NFP Financial Statement Analytics (SK)

Nonprofits can rely on data to support both decision making and evaluation. Opportunities for leveraging data include:

·         Predictive analytics in audits

·         Analytic review of Nonprofit Financial Statements

·         Program Operation Analysis

·         Donor/Fundraising Analytics

·         Analytic Review of Nonprofit 990

 

Instuctor(s)

Credits

  • 1.50 Credits of Category SK
Alexander Buchholz

Alexander K Buchholz, CPA, MBA, CGMA
Audit Partner
PKF O'Connor Davies, LLP

Alexander K. Buchholz, CPA, MBA, CGMA is an Audit Partner in the Not-for-Profit and Health Care Practices of PKF O’Connor Davies, LLP. Alexander has fourteen years of experience in public accounting. His areas of specialty include audits of not-for-profit entities, health care entities, and special needs clients, cost reporting as applicable to health care and not-for-profit entities, and Single Audits conducted in accordance with the Uniform Grant Guidance. Alexander is also an adjunct professor of accounting within the City University of New York as well as Mercy College. Alexander also serves on a number of professional and academic affiliations. Alexander’s journal publications have covered accounting, audit, tax and education topics and he has presented on both a professional and academic level.

Brad Caruso

Brad Caruso, CPA
Partner
WithumSmith+Brown

Brad Caruso, CPA, CFE, is a Partner with WithumSmith+Brown, PC (Withum), a top 30 ranked public accounting firm specializing in providing audit, tax and advisory services to over a dozen major industry sectors across the country and around the globe. He has over 10 years of experience in providing auditing and advisory services predominantly in the not-for-profit industry. Brad is a graduate of The College of New Jersey with a bachelor’s degree in accounting and is a licensed Certified Public Accountant in New Jersey and New York, as well as a Certified Fraud Examiner. Brad is a leader of the team that oversees the development and re-engineering of WithumSmith+Brown’s audit process. He also is involved with managing and implementing specialized software tools and helps the firm stay on the cutting edge of technology and innovation.

Richard Cole

Richard A. Cole, CPA
Project Manager - Not-for-Profit Entities
Financial Accounting Standards Board

Rick Cole is a supervising project manager with the Financial Accounting Standards Board (FASB). In that role, he provides oversight to projects involving not-for-profit organizations (NFPs), consults on other projects affecting NFPs (e.g., Leases), and participates in some of the FASB’s broader outreach activities. He is the project manager on the FASB’s current project on not-for-profit financial statements and also provides staff support for the FASB’s Not-for-Profit Advisory Committee.

Prior to joining the FASB, Mr. Cole was the vice president and controller at the American Museum of Natural History in New York, where he worked for over seven years. Previously, he was a senior manager with KPMG LLP, where he worked for over fourteen years and specialized in audits of higher education institutions and other NFPs. Mr. Cole earned a BS and an MBA from Montclair State University. He is a member of the American Institute of CPAs and the New York State Society of CPAs.

Magdalena Czerniawski

Magdalena M. Czerniawski, CPA
Director
Marks Paneth LLP

Magdalena M. Czerniawski, CPA, MBA, is a Tax Director at Marks Paneth LLP and a member of the firm’s Nonprofit, Government & Healthcare Group. With nearly 15 years of nonprofit industry experience, she provides tax services to a wide array of nonprofits, including charitable organizations, social welfare organizations, professional associations and private foundations.

In addition to providing tax planning and advisory services, Ms. Czerniawski specializes in matters related to ASC 740-10 (FIN 48), the reporting requirements that govern contributions, compensation, unrelated business taxable income, lobbying costs, and public support testing. She also represents her clients as an authorized representative before the Internal Revenue Service and various state agencies. Furthermore, Ms. Czerniawski’s experience includes serving clients with matters related to employee benefit plans, healthcare organizations and hospitals, affordable housing entities, foreign tax filings and payroll tax returns.

Prior to joining Marks Paneth, Ms. Czerniawski was a Senior Tax Manager with a national accounting firm, where she focused on tax consulting and compliance for many of their highest profile clients. She has published various articles on industry-specific tax matters and has served as a speaker for internal and external seminars.

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Tara Del Gavio

Tara E. Del Gavio, CPA
Senior Manager
Sobel & Co. LLC

Tara has over twenty years of experience working at public accounting firms with clients in all facets of the Nonprofit arena. In addition to serving clients, Tara was active in training staff and seniors in all aspects of the practice, and served as a technical advisor to her clients. Her experience with these clients, as well as overall industry knowledge, will give a distinctive advantage as a team member.

Prior to joining Sobel & Co. in 2017, Tara worked as a Senior Manager for a regional CPA firm in their nonprofit and employee benefit groups. In that capacity, Tara managed audit teams of between three to seven staff on clients in various areas of Nonprofit, including Social Service Organizations, Higher Education, Foundations and Trade Associations.

Tara was a Trustee, and the Treasurer of Holy Angels Academy in Demarest, NJ from 2006-2016. Tara is a member of the American Institute of Certified Public Accountants, and the New Jersey Society of Certified Public Accountants. Tara graduated from Felician University in 1998 with a Bachelors of Science in Accounting.

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Allen Fetterman

Allen L. Fetterman, CPA
Loscalzo Associates, Ltd.

Allen L. Fetterman, CPA, licensed as a CPA in New York, has been a discussion leader for Loscalzo Associates Ltd., for 12 years. Allen retired in 2003 from Loeb & Troper, where he spent 36 years serving not-for-profit organizations as an auditor and consultant, and the last 25 years as a partner. In addition to his client responsibilities, he was the partner in charge of the firm’s quality control and technical resources. Allen lectures extensively throughout the country on not-for-profit accounting, auditing, single audits, tax-exempt issues, and governance. Allen was an assistant professor of accounting at a college and has been a guest lecturer at Yale University and New York University. He is a past recipient of both the AICPA’s and FAE’s Outstanding Discussion Leader Award. He has written articles published in national accounting periodicals in the United States and Israel on accounting and taxes for not-for-profit organizations. Allen has served on the AICPA’s Not-for-Profit Organizations Committee, Not-for-Profit Audit and Accounting Guide Task Force and Joint Trial Board. He has chaired the New York State Society of CPAs Not-for-Profit Organizations, Professional Ethics, Audit, and Quality Controls Committees and the AICPA Joint Trial Board. He also served as Vice President of New York State Society of CPAs. Allen has served on the governing boards of not-for-profit organizations, including positions as President, Treasurer and Chair of the Audit Committee and the Finance Committee. Allen received his BBA in accounting from The City College of New York in 1968 and his MBA in accounting from the Bernard M. Baruch College in 1972. He was elected to Beta Gamma Sigma, the national honorary society in business. He received his CPA certificate in 1973, and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants.

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Brett Harris

Brett Harris, Esq.
Business Nonprofit and Technology Attorney
Wilentz, Goldman & Spitzer

Brett R. Harris, with Wilentz, Goldman & Spitzer P.A., has broad-based general corporate practice consisting of both transactional matters and day-to-day client counseling on everyday business matters. She has extensive transactional experience in stock and asset acquisitions representing both buyers and sellers. She has many years of experience in document drafting and negotiation, regulatory compliance matters and policy development for a full range of clients, including publicly-traded companies, closely-held businesses, health care practices, charitable organizations, governmental entities and individual business executives. Ms. Harris has a particular focus on counseling non-profit organizations including entity formation, establishing and maintaining tax exempt status and complying with fundraising regulations. She counsels Boards on policy matters, mission statement development and strategic planning. In addition, she advises clients on structuring and operating family foundations, including grantmaking due diligence and administration of grant agreements. Her intellectual property practice consists of trademark screening, trademark and copyright registrations, IP licensing matters, trade secret protections, issuing and responding to cease and desist letters and interfacing with the firm’s commercial litigation team on infringement matters. Ms. Harris has developed a practice with an emphasis on technology issues. She represents software developers, online businesses and consulting firms. Ms. Harris also advises general business clients and non-profits in addressing technology concerns, including privacy, licensing, e-discovery, development of online policies and website disclaimers, e-commerce, domain name management, establishment of employee e-mail, Internet usage and BYOD policies and addressing legal issues related to social media. She is a member of the Firm's Cyber State Legal Resource Group, assisting clients with policy development and training on cyber preparedness and security and handles data breach responses.

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Robert Lyons

Robert Lyons, CPA
Marks Paneth LLP

Robert Lyons, CPA, is managing tax director in the Nonprofit and Government Services Group at Marks Paneth & Shron, LLP. Mr. Lyons brings to this role the skills he had developed during more than 30 years of providing tax and consulting services to his clients in the nonprofit, higher education, and public sector industries. His experience includes handling substantial exempt organization tax issues. Mr. Lyons has testified in front of the House and Ways Committee in Washington, D.C., establishing the current treatment of affinity royalty arrangements. He has also been involved in special projects related to unrelated business income for exempt organizations, including but not limited to state filing issues, including settlements, foreign filling requirements for off-shore activities and use of exempt bond proceeds. Mr. Lyons has advised clients on the use of for profit subsidiaries as well as disregarded entities. He has led numerous training seminars for the American Institute of Certified Public Accountants and served as an adjunct professor in the Kogod School of Business Graduate Department at American University in Washington, DC. He has also authored six books and forty articles to date concerning exempt organization issues. Prior to joining Marks Paneth & Shron, Mr. Lyons was the tax managing director with KPMG, LLP, where he focused on tax and compliance issues for many of their largest clients, including public charities, private foundations, colleges and universities, social services and membership organizations, and cultural institutions. He is licensed to practice in New York State, Florida, Virginia and the District of Columbia. Mr. Lyons holds a B.S.B.A. in Accounting from the University of Florida and a Masters of Science in taxation from American University.

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Louis Mezzina

Louis J. Mezzina, CPA
KPMG LLP

Lou Mezzina, based in KPMG's NYC office, is a Senior Advisor to the firm’s Higher Education, Research & Other Not-for-Profits practice. He serves as a resource to several of the firm's clients and their service teams, supports knowledge sharing efforts, and is a frequent speaker on matters of interest to higher education and other not-for-profit institutions.

Lou received his BS degree in accounting, summa cum laude, from The State University of New York at Albany. He is a former chairman of the Not-for-Profit Organizations Committee of the New York State Society of Certified Public Accountants and served a three-year term on the Not-for-Profit Organizations Committee of the AICPA. He is a past president of the Make-A-Wish Foundation of Metro New York.

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Brad Muniz

Brad E. Muniz, CPA
Partner in Charge of Accounting & Auditing
Sobel & Co. LLC

Brad E. Muniz, CPA, is the director of accounting and auditing at Sobel & Company LLC, CPAs, serving small businesses and individuals in the areas of accounting, auditing, tax and business consulting. He has significant experience in the areas of financial reporting, tax compliance and planning for closely held businesses, SEC registrants, nonprofit organizations and strategic business planning, and in industries, such as real estate, construction, architectural and engineering, retail, hospitality and manufacturing. Brad is a member of the AICPA and the NJCPA, having served as NJCPA President in 2014/15. In addition, Brad has served as an adjunct professor of accounting at William Paterson University and the College of Saint Elizabeth. Twitter @BradMuniz

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Pre-Registration Closed

Online pre-registration for this event is now closed.