Thursday, January 20, 2022 – Friday, January 21, 2022 | 8:25am – 12:20pm

Nonprofit Conference

The start date for this course has passed. Registration is no longer available.

Nonprofit Conference

January 20, 2022

Check back for more info!

You could pay $0 for this course! 
This qualifies for reimbursement through the State Workforce Training Express Fund. Firms/companies with fewer than 100 staff will receive 100% reimbusement, and firms/companies with over 100 staff will receive 50% reimbursement. You must register for this course and apply for reimbursement through the Workforce Training Express Fund website three weeks in advance to be eligible. The Workforce ID for this conference is 1134193. To learn more click here or contact Julia Ekelund at jekelund@masscpas.org.
 

The MassCPAs is closely monitoring COVID-19, and will keep you informed on any changes to our programs.

Agenda

Thursday, January 20, 2022

 

8:25 – 8:30 a.m.

Welcome and Opening Remarks

 

8:30 – 9:20 a.m.

Small Business Administration Update

Robert Nelson, U.S. Small Business Administration

Created in 1953, the U.S. Small Business Administration (SBA) continues to help small business owners and entrepreneurs pursue the American dream. SBA is the only cabinet-level federal agency fully dedicated to small business, providing counseling, capital and contracting expertise as the nation’s only go-to resource and voice for small businesses. Since the beginning of COVID-19, the agency has assisted businesses with billions in recovery capital in the form of Paycheck Protection Program (PPP) loans, Economic Injury Disaster (EIDL) loans and grants, Restaurant Revitalization Fund (FFR) grants and the Shuttered Venue Operator Grant (SVOG). In FY 2021, the SMA also helped deliver $44.8 Billion of funding nationwide through its traditional loan programs (7a and 504). The agency helps small businesses to start, grow, expand and recover, and this session will cover SBA’s programs and services and the most recent updates available.

 

9:30 – 10:20 a.m.

Financial Accounting Standards Board (FASB) Update

Jeff Mechanick, Financial Accounting Standards Board

In this session, we’ll discuss the latest developments in generally accepted accounting principles (GAAP). We’ll also cover implementation issues for key standards (e.g., leases, gifts-in-kind), current financial reporting issues (COVID-19-related and other), recent accounting standards updates (ASUs), noteworthy FASB projects in-process and the FASB’s consultation on its future agenda. There will be a question-and-answer session at the end, so please bring your questions!

 

10:30 a.m. – 11:10 a.m.

Nonprofit Special Event Logistics and Reporting Amidst the Ongoing Pandemic

Greg Rogers, CPA, Johnson O'Conner

In this session we’ll cover safety protocols that must be considered for any nonprofit planning to return to an in-person special event. The presentation will also highlight key differences between traditional live events and virtual events necessitated by COVID-19, both in terms of logistics and financial results.

We’ll also cover best practices for both financial reporting and tax reporting of special events with specific examples that highlight how fundraising events should be presented on both the financial statements and tax returns of nonprofit organizations. Particular attention will be devoted to common reporting pitfalls that should be avoided to ensure your nonprofit’s financial statements and tax returns are presented in accordance with U.S. generally accepted accounting principles (GAAP) requirements and IRS regulations.

 

11:20 a.m. – 12:20 p.m. – Concurrent Sessions (choose one)

 

 

Yellow Book Independence

Melisa Galasso, CPA, CSP, Galasso Learning Solutions

One of the largest changes to the 2018 Yellow Book was the change to the independence standards. This course will focus on the independence framework as well as the impact of non-audit services on independence. We’ll close with a review of key services that can impair independence.

 

SAS 145, Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement

Marci Thomas, CPA, CGMA, MHA, Surgent

In this session we’ll review SAS 145, Understanding the Entity and its Environment and Assessing the Risks of Material Misstatement issued by the Auditing Standards Board. The new standard was issued to conform to international risk assessment standard and to address deficiencies noted in peer reviews and other quality reviews. The standard is less prescriptive in many ways but includes changes to certain definitions designed to make the intent of the standard clearer, and specifies certain requirements related to the auditor’s assessment of inherent and control risk. The standard includes more robust guidance on the auditor’s responsibility to understand the entity’s internal control, particularly as it relates to IT. SAS 145 is effective for calendar 2023 audits to correspond with SAS 143, Auditing Accounting Estimates and Disclosures.

 

COVID-19 Employee Retention Credits for Nonprofit Employers

Jessica Craw, JD, MBA, EY

Join us for a discussion on how nonprofit employers can potentially qualify for the employee retention credit for 2020 and 2021. We’ll discuss eligibility requirements, credit computation, the refund claim process and the proper documentation needed for your files.

12:20 p.m.

Day 1 Closing Remarks

 

Friday, January 21, 2022

 

8:25 – 8:30 a.m.

Day 2 Opening Remarks

 

8:30 – 9:30 a.m.

State of Nonprofit Organizations

Jim Klocke, Massachusetts Nonprofit Network

The Massachusetts nonprofit sector enters 2022 having demonstrated its resilience and creativity throughout the pandemic. As 2022 begins, Massachusetts Nonprofit Network (MNN) CEO Jim Klocke will provide a look at the state of the sector on multiple fronts, including public policy, financial conditions, workforce availability and future opportunities.

 

9:40 – 10:40 a.m. – Concurrent Sessions (choose one)

 

Accounting & Auditing for ARPA

Melisa Galasso, CPA, CSP, Galasso Learning Solutions

The American Rescue Plan Act (ARPA) is a $1.9 trillion economic stimulus package passed by Congress with the intent of speeding up the U.S. recovery from the economic and health effects of the COVID-19 pandemic. ARPA includes seven pages of new and updated assistance listing numbers, and in this session we’ll review the impact of the 2021 Compliance Supplement as well as related addendums. We’ll also review accounting for certain programs and the impact on the Schedule of Expenditures of Federal Awards (SEFA). ARPA funds will impact major program determination, risk assessment and other facets of single audits, and this session will also teach you what you need to be successful this single audit season.

 

Single Audit Update

Marci Thomas, CPA, CGMA, MHA, Surgent

With a new compliance supplement and a supplement addendum on the way, amendments to the Uniform Guidance and changes in federal grantor requirements, auditors and their clients are left wondering when the changes will end. Although there are no guarantees about what will happen tomorrow, this session will provide you with the most up-to-date information available on the single audit.

 

Improving Your NPO’s Budgeting and Cash Flow Management

Jim Lindell, CPA, CGMA, CSP, Thorsten Consulting

Budgeting is so much more than setting next year’s financial expectations. Budgeting is about aligning with strategic goals, allocating resources to achieve those goals and managing cash flow needs to ensure appropriate resources can be acquired. In this session we’ll improve your budgeting skills and highlight additional areas beyond budgeting to ensure the safety of your organization. We’ll also identify strategic models and resources to examine and benchmark cash and determine the quality of working capital, discuss how cash and working capital forecasts should be utilized within your organization, learn how to recognize where traditional reporting fails and identify how other NPOs have failed in adequately recognizing financial needs to achieve organizational goals.

 

10:50 – 11:50 a.m.

The Proactive Approach – A Deep Dive into the Cyber World

Joe Burnham, CLCS, Brown & Brown Insurance

Gregory Klein-Hertzel, ConnectivTech

In today’s world, cybersecurity and insurance go hand in hand and the best way to combat cyber-related issues is to be proactive and stay ahead of the curve. In this session we’ll take a deeper look into the connection of cybersecurity and insurance, including a marketplace update, review of current trends and a look into the future. You’ll come away with a better understanding of the cyber world so you can help protect your clients.

 

12:00 – 12:40 p.m.

Panel of Nonprofit Leaders – Lessons Learned: One Year Later

Moderated by Susan Lowe, CPA, Susan Lowe CPA

Panelists Include:

•            John Perkins, CPA, Boch Center

•            Timothy Barrett, CPA, Pine Street Inn

•            Amy Miller-Fredericks, Concord Academy

 

Sponsors

Conference Credits

This course is 8.00 credits

Conference Fees

MassCPAs-AICPA Member
$319.00
MassCPAs Member
$319.00
AICPA Member
$399.00
Non-Member
$399.00

Conference Cost

You pay
$399.00
MassCPAs Members save $80.00 on this course. Login or Join to take advantage of these savings.

The start date for this course has passed. Registration is no longer available.