Not-for-Profit Organizations Conference

Tuesday, June 22 8:30am - Wednesday, June 23 12:15pm

(Check-In 8:20am)

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8.00 Credits

Member Price $304.00

Non-Member Price $429.00

Overview

This virtual conference will be held during two consecutive 4-hour days (8:30 am - 12:05 pm on June 22 & 8:30 am - 12:15 pm on June 23).

Please note that when you register for this conference you are automatically registering for both days.

This CTCPA conference is designed to update practitioners on new developments in the nonprofit arena.

Sessions include:

FASB Update

Employment Law Update

990 - Tips for 2020 Tax Compliance

Leveraging Digital Transformation to Power Your Nonprofit's Accounting

Update on PPP, HHS and Other COVID19 Stimulus

COVID Aftermath - Effects on Not-For-Profit Industry

Designed For

Practitioners in public accounting firms with nonprofit clients, as well as CPAs in nonprofit organizations.

Notice

By registering for this program and, accordingly, receiving the eMaterials, you're acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Tuesday, June 22

General Session

8:30am - 9:45am FASB Update

Jeffrey Mechanick Asst. Director for Nonpublic Entities, FASB

Jeffrey Mechanick

Jeff Mechanick is Assistant Director for Nonpublic Entities at the FASB. In that role, he provides strategic and technical oversight of all activities involving not-for-profit (NFP) organizations and private companies, 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 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 staff in 2006, Jeff spent 20 years working in and with the not-for-profit sector, as the CFO of Planned Parenthood Federation of America, Inc., and before that, as a Senior Manager with KPMG, LLP, in the firm’s New York office. From 1992 to 1994, he served as the National Technical Senior Manager for the firm’s Higher Education, Research, and Other Not-for-Profit Organizations (HERON) practice. He is also a past member of the AICPA’s NFP Expert Panel. Jeff received his MBA from Rutgers University and his AB from the University of Chicago, and he is a member of the AICPA and the New York State Society of CPAs. He is also a part-time lecturer (adjunct instructor) in Columbia University’s MS program in Nonprofit Management.

Presented by: Jeffrey D. Mechanick - Assistant Director for Nonpublic Entities at the Financial Accounting Standards Board

In this session, we’ll discuss developments in US GAAP that are important for NFPs.  We’ll focus especially on the FASB’s new standard (ASU 2020-07) on reporting of gifts-in-kind (contributed nonfinancial assets), which is effective for FY 2022.  We’ll also discuss: implementation matters on grants and contracts (especially COVID-19-related government assistance), leases, credit losses, and other recent standards; FASB projects-in-process (e.g., on Goodwill); and the efforts underway by the FASB to set its future agenda, including an Invitation to Comment expected to be issued in June 2021.

General Session

10:00am - 11:00am Employment Law Update

David Salazar-Austin Principal, Jackson Lewis LLP

David Salazar-Austin

DAVID C. SALAZAR-AUSTIN is a Principal in the Hartford, Connecticut office of Jackson Lewis PC.

Mr. Salazar-Austin represents employers in all aspects of employment litigation, and has represented clients in state and federal court and before administrative agencies, including the Connecticut Commission on Human Rights and Opportunities, the Equal Employment Opportunity Commission, the Connecticut Department of Labor, and the State of Connecticut Workers’ Compensation Commission. He has experience in a variety of employment law areas, including employment discrimination, retaliation, wrongful termination, disability and medical leave issues, noncompetition and trade secret disputes, wage and hour claims, breach of contract, class and collective action litigation, and diversity best practices. Mr. Salazar-Austin also conducts trainings sessions for employers, including sexual harassment prevention, diversity and sensitivity, and performance management techniques training.

Mr. Salazar-Austin is a Board member of the Connecticut Hispanic Bar Association. He is also a recent Board member and former Board President of the Connecticut Fair Housing Center.

Mr. Salazar-Austin received his B.A. in Political Science, magna cum laude, from Providence College, and his J.D. from Boston College Law School. He is currently admitted to practice in Connecticut and the U.S. District Court for the District of Connecticut.

Presented by: David C. Salazar-Austin, Principal at Jackson Lewis PC

In this session, we will explore recent developments in Employment Law, both in Connecticut and nationally. Topics will include Connecticut’s new CROWN Act, wage and hour updates, developing issues related to discrimination, retaliation and harassment law, and other employment issues that could impact your businesses.  We will also discuss the most recent guidance on the Connecticut Family and Medical Leave Act, as well as other changes in the law that are revolutionizing the workplace.

General Session

11:05am - 12:05pm 990 - Tips for 2020 Tax Compliance

Mary-Evelyn Antonetti Senior Manager, Marcum LLP

Mary-Evelyn Antonetti

Mary Antonetti is a partner in the Firm’s New Haven office, specializing in tax compliance and consulting services to not-for-profit and healthcare organizations. She has 30 years of public accounting experience with national and international firms. Her extensive experience includes for healthcare and other tax-exempt organizations and their for-profit affiliates, including higher education institutions, NGOs, hospital systems, title holding companies, Official Catholic Directory entities, and private foundations.

Ms. Antonetti’s expertise includes consultation on the implications of tax reform, unrelated business income, alternative investments, foreign reporting, joint venture transactions, Section 501(r) of the Internal Revenue Code, restructuring, application for exempt status, IRS audit support, community benefit reporting, Community Health Needs Assessments (CHNA), tax-exempt bonds, HHS Provider Relief Funds, CARES Act and private inurement issues.

She has also has experience providing middle-market companies with general tax compliance and planning services focused on corporate acquisitions, dispositions and reorganizations of entity structure, including consolidated groups, S-Corporations, and multi-tiered partnerships with domestic and foreign operations.

Prior to joining Marcum, Ms. Antonetti served as a director with a Big Four firm located in Hartford.

Presented by: Mary Antonetti, CPA - Partner, Marcum LLP

2020 has brought a flood of challenges and new legislation to decode while the world suffers from a pandemic.  As 2020 comes to a close, your organization will need to understand the next steps in tax compliance.  

Tax compliance will be challenging this year as your organization tries to determine the taxability and presentation on such items as PPP Loans and HHS Provider Relief Funds.  There are potentially tax implications to such items as telehealth, payroll tax deferrals, charitable contribution, interest expense, and net operating losses.  Tax-exempt providers will also want to understand any potential unrelated business income (UBI) implications.

The rules are complex and the guidance is continually changing.  This presentation is designed to help your organization navigate the most current information available, inform you of potential changes on the horizon and help ease your compliance burden and avoid pitfalls.

Objectives
1. Provide an overview of the most current information available on tax reporting relating to COVID -19 stimulus including such items as PPP Loans, HHS Provider Relief Funds, payroll tax reporting, interest deductions and other legislative changes.
2. Discuss methods to streamline the 2020 tax compliance process including tips on gathering data and pitfalls to avoid.
3. What’s Next?  A review of the current stimulus and discussion of potential developments on the horizon.

Wednesday, June 23

General Session

8:30am - 9:45am Leveraging Digital Transformation to Power Your Nonprofit’s Accounting

James Norton Sr. Manager Accounting Technology Svc, GRF CPAs & Advisors

James Norton

Mr. Norton began his career in public accounting, working on both financial statement audits and individual and business tax filings. During his time in public accounting, he developed a strong affinity for nonprofit organizations and went on to work exclusively in the nonprofit industry for six years. Mr. Norton transitioned to a role in New York City, leading the nonprofit practice and technology division for a small outsourced accounting company.

In additional to various nonprofit board roles, Mr. Norton has held a variety of nonprofit leadership roles ranging from Financial Lead for Meals on Wheels and Interpreting Services programs to CFO of a large regional Chamber of Commerce. During the course of his career, Jim has focused heavily on process improvement through the use of enhanced technology. This led to constructing and leading a multitude of accounting system redesigns or new implementations. Mr. Norton specializes extensively in Sage Intacct and is GRF’s Accounting Technology Services practice lead.

Mr. Norton’s combination of public accounting, private industry, and outsourced internal accounting expertise have afforded him a unique perspective that makes him capable of intimately understanding business challenges from various stakeholders’ perspectives. He helps clients leverage software in developing the creative, functional solutions they need to address their business’ process and reporting challenges.

His primary areas of specialization include nonprofit, boutique fitness, media, and professional service/project-based organizations.

Presented by: Jim Norton CPA - Senior Manager, Accounting Technology Services, GRF CPAs & Advisors

Nonprofit leaders have always faced a unique set of challenges: how to do the most with less, how to serve constituents, and how to comply with an ever growing, ever changing, endless array of varied reporting requirements. Digital transformation is upon us, and with it comes even greater need for the nonprofit leader to understand and make critical decisions with data in as close to real-time as possible. Join us for this lively discussion on the digital transformation of nonprofit accounting, along with demonstration of technology to help your organization excel in the digital age. 

We will discuss:
• How the role of finance and operations has evolved with digital transformation
• How to enhance transparency with faster, more accurate audit preparation, real-time reporting, and dashboards
• Different strategies for measuring and analyzing key metrics in nonprofit organizations
• Approaches to automate grant reporting, fund accounting, budgeting, and other critical functions
• Why the accounting landscape for nonprofits drives the need for accelerated digital transformation 

Join us to learn how the right financial management tools can help you capitalize on digital transformation and take your nonprofit’s ability to tell your story through financials to new heights. Bring your questions! We’ll reserve time for Q&A.

General Session

10:00am - 11:10am Update on PPP, HHS and Other COVID19 Stimulus

Mary-Evelyn Antonetti Senior Manager, Marcum LLP

Mary-Evelyn Antonetti

Mary Antonetti is a partner in the Firm’s New Haven office, specializing in tax compliance and consulting services to not-for-profit and healthcare organizations. She has 30 years of public accounting experience with national and international firms. Her extensive experience includes for healthcare and other tax-exempt organizations and their for-profit affiliates, including higher education institutions, NGOs, hospital systems, title holding companies, Official Catholic Directory entities, and private foundations.

Ms. Antonetti’s expertise includes consultation on the implications of tax reform, unrelated business income, alternative investments, foreign reporting, joint venture transactions, Section 501(r) of the Internal Revenue Code, restructuring, application for exempt status, IRS audit support, community benefit reporting, Community Health Needs Assessments (CHNA), tax-exempt bonds, HHS Provider Relief Funds, CARES Act and private inurement issues.

She has also has experience providing middle-market companies with general tax compliance and planning services focused on corporate acquisitions, dispositions and reorganizations of entity structure, including consolidated groups, S-Corporations, and multi-tiered partnerships with domestic and foreign operations.

Prior to joining Marcum, Ms. Antonetti served as a director with a Big Four firm located in Hartford.

Frank Miceli Audit Partner, Marcum LLP

Frank Miceli

Frank J. Miceli is a Partner in the Firm’s Hartford, Connecticut office. Frank is the leader of assurance for Marcum’s National Healthcare Industry Group, the Leader of the New England Healthcare Industry Group, and a senior member of the Not-for-Profit Industry Group. With over 20 years of experience, his clients include hospitals, nursing homes and senior living communities, home health and hospice agencies, community health centers, organizations serving the developmentally disabled, behavioral healthcare organizations, trade associations, foundations and others within the not-for-profit and healthcare industries.

Mr. Miceli has devoted his entire career to servicing the healthcare and not-for-profit industries in the northeast and throughout the country. In addition to providing audit and assurance services, his breadth of experience affords him the ability to assist clients in a multitude of operational matters including budgeting, accounting information systems, financial reimbursement, internal controls and compliance matters.

Mr. Miceli is a frequent speaker and has presented on various accounting and regulatory issues including annual accounting and auditing technical updates and reimbursement matters. Mr. Miceli volunteers a significant amount of time on a variety of boards of directors and committees serving the healthcare and not-for-profit industries. In addition, he actively maintains his status as a Fellow of the Healthcare Financial Management Association (HFMA) – a recognized marker of leadership and professionalism.

Christopher Jackson Partner, Marcum LLP

Christopher Jackson

Christopher A. Jackson is a Partner in the Firm’s Hartford, Connecticut office and is a member of the National Healthcare Industry Group. For more than 30 years, he has specialized in providing assurance and advisory services to various clients within the healthcare industry.

Mr. Jackson’s extensive background includes financial statement audits, state and federal compliance audits, accounting and reporting assistance, regulatory matters, internal controls, Sarbanes-Oxley compliance, M&A due diligence, and internal audit project development and management.

Mr. Jackson leads financial audit services for large healthcare clients and directs internal audit services for numerous healthcare clients. He has also served in several outsourced positions, including the roles of CFO, director of internal audit and corporate compliance officer. In addition, Mr. Jackson serves as the audit engagement partner on a number of insurance companies and has experience with health insurers and HMO’s.

Mr. Jackson is a frequent speaker and has presented on various accounting and regulatory matters including annual accounting and auditing technical updates, audit effectiveness and core audit training. He serves as the technical review editor of Wolter Kluwer’s CCH Knowledge-Based Audits of Health Care Entities Tools which are widely used in the industry.

Prior to joining the Firm, Mr. Jackson spent 15 years at a “Big 4” accounting firm as a leader in its healthcare practice.

Presented by: Mary Antonetti, CPA - Partner, Marcum LLP

Christopher A. Jackson, CPA - Partner at Marcum LLP

Frank J. Miceli, CPA, MBA, FHFMA - Partner at Marcum LLP

Join Marcum LLP, as their industry experts take a deep dive into new and important information regarding the HHS Provider Relief Fund and the PPP Loan Program.  In this presentation, they will discuss the most up to date information of the requirements for the HHS reporting of COVID-19 related expenses and lost revenue.  In addition, they will highlight the updates to the PPP Loan Program, including loan forgiveness.  They will provide the most recent guidance on Single Audit requirements.  Finally, they will provide you an update of any recently enacted stimulus legislation that may be of interest to the industry.

General Session

11:15am - 12:15pm COVID Aftermath - Effects on the Not-For-Profit Industry

Cynthia Romano Global Director, CohnReznick LLP

Cynthia Romano

Cynthia Romano is the Global Director of CohnReznick’s Restructuring and Dispute Resolution practice. With 30 years of experience in performance improvement, turnaround management, transaction support, and investment analysis, Cynthia’s work has added significant value to middle market companies in healthcare, manufacturing, education, technology, security, distribution, professional services and not-for-profit. She is well known in the market and the recipient of numerous awards including Smart CEO Brava Award winner honoring top female CEOs and co-winner of the Turnaround Management Association (TMA) Small Company Turnaround of the Year. She also has numerous board seats, panels, and publications to her credit including for ABI, TMA, HBS, MIT, the Nassau County and Boston Bar Associations, Exit Planning Exchange, Debtwire, and the ABF Journal. Ms. Romano holds degrees from Brown University and MIT is also a TMA Certified Turnaround Professional (CTP).

Paul Ballasy Partner, CohnReznick LLP

Paul Ballasy

Paul R. Ballasy, CPA, is a partner with CohnReznick and co-leads the efforts of our Firm’s Not-for-Profit and Education Industry Practice in New England. Paul has more than 30 years’ experience and devotes most of his time servicing not-for-profit and education organizations providing audit, accounting, tax and consulting services. Paul serves as the lead engagement partner on many of the firm’s largest not for profit clients and has extensive experience with educational institutions, associations, foundations, arts and culture organizations, community health centers and social service agencies.

Paul serves as a resource to professionals both in and outside the firm on the cost standards implemented by the State of Connecticut Office of Policy and Management (OPM). He has conducted numerous educational seminars on various topics relevant to the not-for-profit community. He is also very active on the CTCPA nonprofit committee which plans the annual nonprofit organizations conference.

Presented by: Paul R. Ballasy, CPA - Partner, CohnReznick LLP

Cynthia Romano - Global Director, Restructuring and Dispute Resolution Practice, CohnReznick LLP

With the COVID-19 crisis coming to a close, not-for-profit organizations need to look at their business strategies, fundraising events, and how to reopen programing in a post pandemic environment. The aftermath has resulted in disrupted revenue streams, employee health and welfare concerns, resource limitations, and uncertain futures for many organizations. By prioritizing and managing the results of this disruption across core business functions, not-for-profit leaders and their business advisors should identify priorities for immediate action, so as to remediate the disruptions that have endangered their organization. Session will cover how to start planning and implementing for the new normal.

Non-Member Price $429.00

Member Price $304.00