Agenda
GENERAL SESSION
LAUNCH GENERAL SESSION
8:30 AM – 9:20 AM
KEYNOTE PRESENTATION: Assessing the Risk of Your Organization
Join in for a how to guide for those being asked to take on the role of risk manager for their organization. Now more than ever, CPAs are tasked with responsibilities for other operational parts of an organization, including risk management. Explore how to measure and score risks in an organization. Discuss the entity-wide risk management approach and both the importance and difficulties of implementing an on-going risk assessment program.
David R. Peters, CPA, CGMA, CPCU, ChFC, CLU, CFP | Founder and Owner, Peters Professional Education, LLC, Richmond, VA
Credits: 1.0 OT
CHANNEL ONE
9:30 AM – 10:20 AM
Building a Framework for Regulatory Ethics
Almost every CPA has head of the AICPA Code of Professional Conduct. However, have you every struggled to see how it applies to your professional life? The conceptual framework approach provides for the intersection between the code of Professional Conduct and the everyday life of the CPA professional. Using case studies and discussion, we provide an overview of the AICPA Code of Professional, including the conceptual framework approach. Participants also explore common licensing and CPE Issues across state lines.
David R. Peters, CPA, CGMA, CPCU, ChFC, CLU, CFP | Founder and Owner, Peters Professional Education, LLC, Richmond, VA
Credits: 1.0 ET
10:30 AM – 11:20 AM
How to Win the War for Talent – Post Pandemic
Assess the state of talent in the U.S. given the record numbers of vacant positions, turnovers, retirements, decreasing engagement levels and see what you need to do in order to succeed. Design and implement a talent strategy that will help your organization win and retain talent this year and beyond.
Jim Bitterle | Managing Partner, EDSI Consulting, Dearborn
Credits: 1.0 OT
11:30 AM – 12:20 PM
The Art of Giving: Taxes, Business Interests & More
The idea of strategizing charitable and planned giving among current and potential donors is nothing new to nonprofit organizations. Unlock the latest charitable tax planning strategies in light of anticipated changes in federal law and rising interest rates, including qualified charitable distributions, charitable gift annuities, and charitable remainder trusts. We will also address the topic of charitable gifts of illiquid assets like closely held business interests as part of a succession plan for individuals who may be selling their businesses or transferring control to the next generation before year-end.
Laura Brownfield | General Counsel, Community Foundation for Southeast Michigan
Credits: 1.0 OT
1:10 PM – 2:00 PM
Operating Reserves as a Strategic Resource
According to the Nonprofit Finance Fund’s State of the Sector report, less than 25% of responding nonprofits had more than 6 months of cash in reserve and close to 10% had less than 30 days of cash available. We explore the purpose, use, set up and funding of a reserve as well as use cases and examples for its utilization as a strategic resource in helping a nonprofit sustain in tough times, weathering the unexpected and more.
Robert P. Seestadt, CPA | Assistant Vice President, Quatrro Business Support Servies, Detroit
Credits: 1.0 OT
2:10 PM – 3:00 PM
Closure for Nonprofit Financial Statement Disclosures
This segment will address the very latest on financial statement disclosures, including new Topic 842 lease disclosures for both lessees and lessors. Other disclosures will include gifts in kind, investments in equity securities (including when electing the alternative measurement method of modified cost vs. fair value), liquidity, donor-imposed restrictions on net assets, and more.
Jennifer F. Louis | President, Emergent Solutions Group LLC, Charlotte, NC
Credits: 1.0 AA
3:10 PM – 4:00 PM
Yellow Book Update
This segment will address FAQ and quality control concerns related to Yellow Book engagements, including independence, competency, writing findings that include all the necessary elements, which findings to include in the publicly-available report vs. written communications to those charged with governance, how SAS No. 134 impacted Yellow Book audit reports, and more.
Jennifer F. Louis | President, Emergent Solutions Group LLC, Charlotte, NC
Credits: 1.0 AA
4:10 PM – 5:00 PM
Closure for Nonprofit Financial Statement Disclosures (Second Offering)
This segment will address the very latest on financial statement disclosures, including new Topic 842 lease disclosures for both lessees and lessors. Other disclosures will include gifts in kind, investments in equity securities (including when electing the alternative measurement method of modified cost vs. fair value), liquidity, donor-imposed restrictions on net assets, and more.
Jennifer F. Louis | President, Emergent Solutions Group LLC, Charlotte, NC
Credits: 1.0 AA
CHANNEL TWO
9:30 AM – 10:20 AM
Better Board Governance
Following the global COVID-19 pandemic, so many organizations are working hard to not only build back, but to do so better than ever. Part of that strategy might include ensuring organizational governance boards are fully staffed, more diversified and dedicated to socially conscious initiatives. Plan ways to boost board recruitment and engagement, define role expectations and more.
Tamela A. Spicer, M.A. | Senior Program Manager, Johnson Center for Philanthropy, Grand Valley State University, Grand Rapids
Credits: 1.0 OT
10:30 AM – 11:20 AM
SOC Reports: Different Uses for Different Users
Auditors and clients both use SOC reports, but the nuances of these reports can be elusive. Take a deep dive into everything SOC, including its different tpyes, uses, impacts and more. Plus, zoom in for a closer look at Bridge Letters.
Steven J. Guarini, CPA | Partner, Cohen & Company, Detroit
Credits: 1.0 AA
11:30 AM – 12:20 PM
Building with Intention: Culture & Leadership for the Hybrid World
It is harder than ever to attract and retain talent, yet even amid the “Great Resignation” of 2021, some companies were able to do just that while continuing to grow and thrive. Investigate what it means to be intentional about culture and define specific strategies to build an effective organizational culture in a hybrid world.
Kristen Schmitt, PCC | President, Thrive to Lead, LLC, New Albany, OH
Credits: 1.0 OT
1:10 PM – 2:00 PM
Updates Related to UBTI
The not-for profit industry has seen a number of tax law and procedural changes in the last few years, some of which may have caught organizations off-guard. We’ll talk about some of those updates, including the Inflation Reduction Act of 2022, and share examples and situations we’ve encountered so that you can successfully advise your organization.
Natalie Kohtala, CPA | Not-for-Profit Tax Manager, Baker Tilly, Appleton, WI
Troy E. Marine, CPA | Director, Strategic Tax Services – Not-for-Profit, Baker Tilly, Appleton, WI
Shelby Netz, CPA, MST | Senior Manager, Baker Tilly, Appleton, WI
Credits: 1.0 AA
2:10 PM – 3:00 PM
Finding Your Balance in Allocation
Analyzing expenses by function and nature can demonstrate key parts of an organization’s story but, as with any process, there are common errors that occur during the allocation process you likely want to avoid. Get the latest industry updates related to functional expense allocation so that you and your organization can strike the right balance.
Joseph W. Cruitt, CPA, CGMA | Senior Vice President-Chief Administrative and Finance Officer, American College of Healthcare Executives, Chicago, IL
Credits: 1.0 AA
3:10 PM – 4:00 PM
2022 ERC Insights
The employee retention credit (ERC), is in full swing but audits have only just begun with the first round expected to be complete in a matter of months. Bring your expectations up to speed with the latest information on what nonprofits can expect when it comes to having their claim audited by the IRS, and what to do if that claim is denied.
Kellie M. Bos, CPA | Partner, AHP, Midland
Credits: 1.0 OT
4:10 PM – 5:00 PM
Updates Related to UBTI (Second Offering)
The not-for profit industry has seen a number of tax law and procedural changes in the last few years, some of which may have caught organizations off-guard. We’ll talk about some of those updates, including the Inflation Reduction Act of 2022, and share examples and situations we’ve encountered so that you can successfully advise your organization.
Natalie Kohtala, CPA | Not-for-Profit Tax Manager, Baker Tilly, Appleton, WI
Troy E. Marine, CPA | Director, Strategic Tax Services – Not-for-Profit, Baker Tilly, Appleton, WI
Shelby Netz, CPA, MST | Senior Manager, Baker Tilly, Appleton, WI
Credits: 1.0 AA
CHANNEL THREE
9:30 AM – 10:20 AM
Assessing & Responding to Risk with NFPs
Nonprofit organizations face different types of risks than their for-profit counterparts. How do you determine the particular risks associated with nonprofit audit clients, and, if risks are found, how do you respond to those risks? We review unique and common risks, as well as assessment practices and responses in the nonprofit setting.
Wendy Thompson, CPA | Training Manager, Yeo & Yeo, Saginaw
Credits: 1.0 AA
10:30 AM – 11:20 AM
All My Single Audits
Thinking about throwing your hands up at the current single audit landscape? Let us help you unpack the nuances surrounding COVID-19 funding and its single audit implications. From the latest uniform guidance to recent developments within the Governmental Audit Quality Center, we’re leaving no single audit concern unaddressed.
Will Love, CPA, CGFM | Audit Manager – Public Sector Services, Rehmann, Grand Rapids
Credits: 1.0 AA
11:30 AM – 12:20 PM
The NFP Guide to Grants
Nonprofit entities that receive funds from grants are subject to compliance requirements for each grant. Gain familiarity with uniform grant guidance and discover best practices for maintaining compliance, including developing written policies and procedures.
Will Love, CPA, CGFM | Audit Manager – Public Sector Services, Rehmann, Grand Rapids
Credits: 1.0 AA
1:10 PM – 2:00 PM
Gifts-In-Kind: Overview Edition
The Financial Accounting Standards Board (FASB) recently updated how nonprofits that accept gifts-in-kind must present and disclose them on financial statements. As many organizations are dependent on these types of contributions, now is the time to ensure you have a full understanding of the new disclosures, considerations for contributed nonfinancial assets and other related issues.
Neely D. Duncan, CPA, CFE | Partner/Nonprofit Advisory Services Leader, Forvis, Dallas, TX
Credits: 1.0 AA
2:10 PM – 3:00 PM
Accounting for the Rising Popularity of Alternative Investments
The non-fungible token (NFT) market has seen rapid growth since 2020, with sales topping $2.5 billion in 2022. Alternative investments, like NFTs and cryptocurrency, might see peaks and dips like any other market but they are poised to stay for quite some time. As guidance on these assets continues to evolve, get the latest insight on all things crypto, including gifts, tax reporting best practices, financial reporting disclosures and more.
Ali Chalak, CPA | Partner, Moss Adams, Walnut Creek, CA
Credits: 1.0 AA
3:10 PM – 4:00 PM
A New Lease on Accounting for Leases
According to recent reports, leases held by companies have returned to pre-pandemic averages, particularly among those for equipment, land and vehicles. As all leases prepare to migrate onto the balance sheet under new standards, now is the time to ensure you know everything that matters about the new standard requirements and the most practical existing expedients.
Paul Preziotti, CPA | Partner, Johnson Lambert LLP, Vienna, VA
Credits: 1.0 AA
4:10 PM – 5:00 PM
IRS Form 990, For Your Information…
While tax-exempt nonprofit organizations do not pay federal taxes, they must still demonstrate that their activities align with their public responsibilities. This is done through filing IRS Form 990, which then serves as public record for donors and others to evaluate revenue streams, sustainability and other important indicators. Learn more about the IRS Form 990 series, its main points of focus, best practices and more.
Grace Leaym, CPA | Tax Manager, Plante Moran, Auburn Hills
Daniel J. Wysocki, CPA | Tax Manager, Plante Moran, Auburn Hills
Credits: 1.0 OT