Learn how to define the roles and responsibilities and have a better understanding of not-for-profit financials.
Do you currently serve on a not-for-profit organization board or plan on serving in the future? Have you wondered as a board member of your responsibilities related to the financial statements and tax returns? How can I better review and what key performance indicators (KPI) should I monitor? This presentation will help current board members, future board members, and management define the roles and responsibilities and have a better understanding of not-for-profit financials. We will examine KPIs that can be used to help your organization communicate programmatic and financial results to stakeholders.
Learning Objectives
- You will be able to define roles of management vs. the board.
- You will be able to describe nott for profit financials.
- You will be able to discuss responsibilities of board members.
- You will be able to explain key not-for-profit KPIs.
Agenda
Introduction
- CLA
- Mona Birchfield
- Adeel Javed
Board of Directors Responsibilities
- Fiduciary
- Management Responsibilities
Not for Profit Financials
- Statement of Financial Position
- Statement of Activities
- Statement of Cash Flows
- Statement of Functional Expense
Not for Profit KPIs
- Supporting vs. Programmatic Activity
- Reserves
990
- Core Form and Importance
- Comp Studies for CEO and Leadership
Questions
Speakers
Adeel Javed, CPA,
CliftonLarsonAllen LLP- Consulting CFO in the Nonprofit Client Accounting and Advisory Services (CAAS) Practice of CliftonLarsonAllen LLP
- Extensive experience with not-for-profit organizations including review of accounting standards, audit preparation, board reporting, and consulting
- Led accounting system implementations, streamlining chart of accounts, and program report buildout
- American Institute of Certified Public Accountants member
- B.S. degree in accounting and finance, George Mason University, Fairfax, VA
Mona M. Birchfield, CPA,
CliftonLarsonAllen LLP- Manager in the Public Sector Outsourcing Practice of CliftonLarsonAllen LLP
- 18 years of experience, with 16 years being exclusively with not-for-profit organizations
- Has comprehensive knowledge of all areas of not-for-profit accounting including audit, regulation, accounting services, and consulting
- A wealth of experience in developing accounting policies and procedures manuals, and finance and accounting systems
- Specializes in Intacct and Bill.com, and is certified in both; she also holds a Not-for-Profit I and II certificate from the American Institute of CPAs, for which she has been a member of since 2010
- A volunteer of American Corporate Partners; American Corporate Partners (ACP) is a 501(c)3 organization focused on helping returning veterans find their next careers through one-on-one mentoring, networking and online career advice
- Technical experience includes cloud-based financial management systems and nonprofit entities
- M.S. degree in interdisciplinary studies, University of Maryland, College Park, MD; B.S. degree in accounting, with a minor in business administration, University of Maryland, College Park, MD
- Can be contacted at 571-227-9546 and Mona.Birchfield@CLAconnect.com
Who Should Attend
This live webinar is designed for accountants, CPAs, executive directors, controllers, tax managers, CFOs, CEOs, presidents and vice presidents, business owners and managers, board members, treasurers, and attorneys.
