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Thursday, December 2, 2021 Live Webcast

Nonprofit Conference (E2112420)

8:00 AM - 4:00 PM EST
webcast

ON24

8.0 CPE Credits in MC

OVERVIEW

Nonprofit organizations are grappling with a recovering economy and increasingly complex compliance and regulations. Gain important guidance for your organization or your clients.

DESIGNED FOR

CPAs and financial professionals working for nonprofit organizations or representing nonprofit clients.

HIGHLIGHTS

Sponsored by:
8-9:15 a.m.
FASB Update: What’s New? What’s Next? (1.5 AA)
Jeff Mechanick, Assistant Director - FASB
This session will cover the latest developments in GAAP, including implementation issues for key standards (e.g., leases, gifts-in-kind), current financial reporting issues (COVID-19 related and other), recent ASUs, noteworthy FASB projects in process and the FASB’s consultation on its future agenda.

9:25-10:15 a.m.
Systemic Controls and Cybersecurity (1.0 SK)
Phil Marciano, CPA, CGMA, CGFM - Marks Paneth LLP
Hassan Khan - Marks Paneth LLP

Information technology and cybersecurity risks are at the forefront of board, audit committee and management agendas. With the recent advent of personnel working remotely, nonprofits are taking a second look at their information technology controls and processes. This session will focus on best practices and processes to consider when evaluating risk of IT controls. Suggestions will be provided on what your organization can do to gain efficiency and security, including audit processes.

10:30-11:45 a.m.
Diversity, Equity and Inclusion 101 (1.5 SK)
Dr. Laura McGuire, Consultant - National Center for Equity and Agency
Diversity, equity and inclusion are some of the hottest buzzwords in today's leadership and organizational development conversations. Though often discussed, they are also often misused or poorly executed. You'll will leave with actionable ways to increase your inclusivity practices, both as an individual and a member of an organization. The history of diversity and inclusion will be explored as well as what equity looks like in action and the future of the field.

11:45 a.m.-12:15 p.m.
Lunch Break

12:15-1:30 p.m.
Breakout Sessions (Choose One)
1A. Single Audit Update (1.5 AA)
Alex Buchholz, CPA, M.B.A., CGMA - PKF O'Connor Davies
Pandemic funding has made the single audit arena very challenging and things are changing much more frequently than usual. This session will bring you up-to-speed on important matters including changes to the 2021 Supplement, a summary of COVID-19 funding and related challenges, and additional resources.

1B. Form 990 Red Flags (1.5 TX)
Garrett Higgins, CPA - PKF O'Connor Davies
Melissa Modelson, CPA - PKF O'Connor Davies

This session will review the common errors on Form 990 and related schedules. Learn about common “red flag” questions and improper presentations on a return that may result in an incomplete return. The presentation will act as a guide to help identify and avoid these common errors when completing a Form 990. By gaining a clear understanding of the return and the intent behind the questions, you'll be able to identify and avoid potential errors that could result in IRS examinations, incomplete returns and potentially expensive tax consequences.

1C. How to Manage Your Board – Best Practices for Governance and Financial Reporting (1.5 AA)
Matthew Estersohn, CPA - Marks Paneth LLP
An engaged board is critical to mission success. Learn important compliance and governance strategies to keep your board protected and financial reporting considerations to keep your board informed and productive. This session is designed to give nonprofit leaders the operational tools they need to empower their boards to face the strategic challenges ahead.

1:45-3 p.m.
Breakout Sessions (Choose One)
2A. Common Errors in Not-for-Profit Financial Statements (1.5 AA)
Catherine Syslo, CPA - CohnReznick LLP
Christopher Griffin, CPA - CohnReznick LLP

This session will discuss some of the most common errors made in not-for-profit financial statements, including the impact of recent accounting pronouncements (ASU 2016-14 and ASU 2018-08). Topics will include an overview of not-for-profit financial statements, understanding common errors and how to prevent and avoid these errors.

2B. Unrelated Trades or Businesses – Applying Silo Rules to Your Exempt Organization (1.5 TX)
Kristin Anderson - PKF O'Connor Davies
Learn how to separate your organization’s unrelated business income into separate “silos” (i.e., activities) for purpose of tax calculation to be in compliance with the final IRS regulations issued in November 2020. The session will also cover the allocation of expenses to multiple activities and the impact on net operating loss carryforwards.

2C. Provider Relief Fund Reporting via the HHS Portal: What to Know (1.5 AA)
Domenic Segalla - Withum
All recipients of Provider Relief Fund (PRF) payments have specific U.S. Department of Health and Human Services (HHS) reporting requirements they must comply with. This session will cover topics, including: navigating through the PRF reporting portal, understanding how to calculate lost revenue and determining the proper reporting deadlines.
3:10-4 p.m.
Blockchain & Crypto - Updates and Future Directions for the Profession (1.0 SK)
Dr. Sean Stein Smith, CPA, CFE, CGMA, CMA, DBA
This session will touch on recent accounting, tax and policy updates as they connect to the blockchain and cryptoasset sector. It will cover the breakdown of proposed accounting guidance, a review of IRS updates and pronouncements related to crypto tax issues, and an analysis of how pending and enacted legislation could influence the cryptoasset sector moving forward. In addition, it will present the fundamental steps necessary to construct and enact a crypto payment strategy, including FAQs and key steps as a part of this analysis/process. Lastly, there will be an examination and discussion on the array of cryptoassets that exist in the marketplace, including a focus on decentralized finance (DeFi), central bank digital currencies (CBDC) and non-fungible tokens (NFTs).

COURSE LEVEL

Intermediate

PREREQUISITES

None

ADVANCE PREPARATION

None

INSTRUCTORS

Kristin Anderson

Kristin Anderson

Senior Manager

PKF O'Connor Davies, LLP

Kristin Anderson is a Senior Manager at PKF O’Connor Davies and a part of the Firm’s Not-for-Profit Tax practice. She has over 15 years of experience specializing in tax compliance and consulting, with a focus on exempt organizations and their taxable affiliates.

She serves clients throughout the Northeast in a variety of not-for-profit industries including higher education, healthcare, trade associations, arts and culture, and social service; leading both compliance and consulting engagements.

In addition to serving clients, Kristin also contributes to tax articles and alerts, and is a speaker at not-for-profit tax webinars, client educational presentations, and staff development training.

Alexander Buchholz

Alexander K. Buchholz, CPA, M.B.A., 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 eighteen 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. Alexander also serves on a number of professional and academic affiliations and is a board member of the New York State Education Department State Board for Public Accountancy. Alexander’s journal publications have covered accounting, audit, tax and education topics and he has presented on both a professional and academic level.

Matthew Estersohn

Matthew Estersohn, CPA

Partner

Marks Paneth LLP

Matthew Estersohn, CPA, is a Partner in the Nonprofit, Government & Healthcare Group at Marks Paneth with nearly 15 years of experience in providing accounting, auditing, tax and consulting services for the nonprofit industry. He has planned, coordinated and conducted audits for a wide range of nonprofits, including human service organizations, educational and cultural institutions, membership organizations and private foundations. He also specializes in Single Audits for organizations that receive federal funding.

Mr. Estersohn has additional expertise performing audits of cost reports, including the New York State CFR, compliance audits, and audits of multi-employer and single-employer pension plans (defined benefit and defined contribution). He has written reports for his clients on matters including operating efficiencies and best practices, internal controls, financial reporting, and governance and has assisted with due diligence on nonprofit mergers and acquisitions. In addition, Mr. Estersohn regularly publishes articles and leads training seminars on various accounting and auditing matters affecting the nonprofit industry.

Christopher Griffin

Christopher Griffin, CPA

CPA, Partner and CDFI Sector Leader

CohnReznick LLP

Christopher Griffin, CPA, is a partner in CohnReznick’s Bethesda office and a member of the Firm’s Not-for-Profit and Education Industry Practice with more than 15 years of experience in providing assurance, tax, and advisory services to not-for-profit organizations. Chris has extensive experience planning and executing audits in compliance with OMB, FASAB, GAO, FASB, and GASB. His clients include social service and educational organizations, community development organizations, housing developers, and membership and trade associations. Chris is also a frequent contributor to various not-for-profit conferences and seminars.

As a member of the Firm’s Employee Benefit Plan Practice, Chris provides audit services for his clients who sponsor a wide variety of employee benefit plans, including defined contribution and defined benefit plans.

Chris is also responsible for developing and conducting training seminars for Firm staff on multiple topics including audit and accounting theory, government and other regulatory compliance, and technology applications and systems.

Garrett Higgins

Garrett M Higgins, CPA

Partner

PKF O'Connor Davies, LLP

Garrett M. Higgins is a Partner of the Firm and a member of the Firm’s Executive Committee. He serves as Partner-in-Charge of the Exempt Organization Tax and Advisory Services Group and has over 20 years of experience providing tax compliance and advisory services to tax-exempt organizations.

Garrett’s current tax-exempt clients include private foundations, colleges and universities, museums, health care organizations, large public charities, pension and welfare benefit trusts, and a number of other non-profit organizations. His considerable expertise extends across a broad range of tax-exempt and other accounting and audit topics. He has significant experience with public charities and private foundations as well as experience with the tax compliance and consulting issues affecting educational institutions, welfare benefit trusts, health care and other types of exempt organizations. His specific areas of tax and business expertise encompass unrelated business income tax planning, state and local tax planning and reporting, executive compensation, operational and transaction structuring, use of taxable subsidiaries of tax-exempt organizations, intermediate sanctions planning and compliance and fundraising. He is viewed as a technical authority and is regularly asked to author articles and present at firm-sponsored and other tax-exempt industry events.

In recent years, Garrett has had the honor of receiving the New York Enterprise Award for the Best Accountants and Attorneys for Growing Business as well as the Westchester Business Council’s Rising Stars “Forty under Forty” award.

Hassan Khan

Hassan Khan

Principal

Marks Paneth LLP

Hassan Khan is a Principal in Marks Paneth’s Technology Services Group. Mr. Khan works collaboratively with clients’ management, audit committees and boards, and provides independent, senior-level expertise that enables executives to drive value from technology and improve business performance. Over the course of his career, he has led and delivered advisory engagements including technology governance, risk and compliance assessments; organizational reviews; board governance; benchmarking and best practices reviews; enterprise risk management (ERM); internal audits; technology effectiveness assessments; IT strategy and planning; digital transformation; business continuity/disaster recovery; system selections and implementation; cybersecurity risk analysis; third-party risk management; and data analytics. He is a frequent panelist and lecturer on business and technology topics.

Philip Marciano

Philip Marciano, CPA, CGMA, CGFM

Director

Marks Paneth LLP

Phil Marciano, CPA, is a Senior Manager within the Professional Standards Group at Marks Paneth LLP. He specializes in the quality reviews of audits of governments and nonprofit organizations, including Uniform Guidance (formerly OMB A-133) audits. The Professional Standards Group is responsible for monitoring quality control as mandated by professional standards. Specifically, he is part of a team that reviews all attest engagements, provides consultation on accounting and attestation matters, tests and monitors the firm’s quality review policies and procedures, and develops and delivers training material related to accounting and auditing standards, ethics and industry-specific matters.

Prior to joining Marks Paneth, Mr. Marciano gained several years’ experience with a mid-sized CPA firm on Long Island, providing accounting and auditing services to his clients within the government, education and nonprofit arenas. His experience includes engagements involving audit, attest and assurance services, Government Auditing Standards, Uniform Guidance, risk assessments, and internal control studies. He has led training seminars for his clients and professional staff on various topics. He has given seminars on behalf of the New York State Government Finance Officers Association, New York State Association of School Business Officials, and the Institute of Internal Auditors (Long Island Chapter) on various subjects including governmental and nonprofit accounting/auditing. Mr. Marciano is also an instructor for the AICPA.

Laura McGuire

Laura McGuire

The National Center for Equity and Agency

Dr. Laura McGuire (they/them or she/her) is an internationally recognized consultant, survivor, researcher, seminarian, and author of the book Creating Cultures of Consent (Rowman & Littlefield, 2021). They are a member of the American Association of Sexuality Educators Counselors and Therapists (AASECT), Society of Professional Consultants. They are currently a fellow with the Institute for Social Innovation where they are researching sexual medicine competency in provider care, an adjunct professor at Widener University's Center for Human Sexuality studies, and a seminary student at Earlham School of Religion. Dr. McGuire lives in the United States, where they work as a full-time consultant at The National Center for Equity and Agency.

Jeffrey Mechanick

Jeffrey D. Mechanick, CPA, M.B.A.

Assistant Director

Financial Accounting Standards Board

Jeff is assistant director for Nonpublic Entities at the Financial Accounting Standards Board (FASB), where he provides strategic and technical oversight of all activities involving not-for-profit (NFP) organizations and private companies. In addition, he 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 the 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, Jeff spent 20 years working in and with the not-for-profit sector, as CFO of Planned Parenthood Federation of America, Inc., and previously as a senior manager with KPMG, LLP.

Melissa Modelson

Melissa Modelson, CPA

Senior Manager

PKF O'Connor Davies, LLP

Melissa Modelson is a senior manager in the Exempt Organization Tax and Advisory Service practice of PKF O’Connor Davies, LLP. She has over 10 years of experience advising not-for-profit organizations and provides tax compliance and consulting services to a variety of organizations exempt from income tax.

The clients she services include large public charities, college and universities, healthcare organizations and private foundations as well as low-income housing, and other not-for-profit entities.

Domenic Segalla

Domenic J Segalla

Principal

WithumSmith+Brown

Domenic is the Team Leader of Withum’s Healthcare Advisory Services Group. He is a Principal based out of the Firm’s New York office. With over 20 years of healthcare experience, Domenic has a broad spectrum of knowledge with his background of financial and operational executive level positions. Primarily, he has worked in large academic acute care hospitals but also has expertise in long-term care and physician practices. In addition to his comprehensive executive roles, Domenic has extensive experience in cost containment, integration and consolidation of facilities, Revenue Cycle, Strategic Planning, and “right sizing” the cost structure of facilities to correlate with their volumes.

Sean Stein Smith

Sean D. Stein Smith, CPA, CFE, CGMA, CMA, DBA

Assistant Professor

Lehman College

Sean is an expert and sought-after speaker, focusing on the intersection of financial services, blockchain and cryptocurrencies. He is a regular contributor to IBM’s Blockchain Unleashed website, analyzing applications for blockchain technology on business at large, as well as being a regular expert guest on China Global TV Network discussing blockchain and related applications. Sean is a member of the Advisory Board for the Wall Street Blockchain Alliance, which coordinates with the AICPA in developing standards and reporting frameworks in this emerging area. Sean continuously works with, and consults for, the AICPA and several professional training organizations in the creation and delivery of blockchain and cryptocurrency related content. He is currently under contract to publish two books focusing on blockchain applications for financial services and other industry sectors. Sean is the host of the NJCPA TechTalk Podcast and is a past leader of the NJCPA Emerging Technologies Interest Group.

Catherine Syslo

Catherine Syslo, CPA

Director, Quality Control

CohnReznick LLP

Catherine Syslo, CPA, is a Director of Quality Control with CohnReznick, specializing in audits of not-for-profit organizations including Uniform Guidance. She is licensed in both New Jersey and New York and has over 20 years of experience in both the public accounting and private sectors. She is a member of the AICPA and the NJCPA. Ms. Syslo is currently serving a two year term as the Chairperson of the Not-for-Profit Interest Group of the NJSCPA. She has served on the board of local not-for-profit organizations, as well as volunteered for numerous church and school organizations.