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