8 – 9:25 a.m. Not-For-Profit Frauds and the Pandemic (A&A)
Dr. Robert K. Minniti, CPA, VFE, CVA, MAFF, CrFA, CFF, CGMA, PI, Minniti CPA LLC
Attendees will gain an understanding of how criminals used the COVID-19 pandemic to commit frauds against NFPs and donors. We will review the red flags and discuss internal controls for preventing and detecting these types of frauds. Real world examples will be used for the discussion.
9:40 – 11:05 a.m. Telling Your Story via Form 990 (Tax)
Jacqueline Eckman, CPA, CLA (CliftonLarsonAllen)
Sarah C. Zelhart, CPA, Make-A-Wish America
An organization’s Form 990 is its most public document. During this session, you will learn to use the Form to tell your organization’s story in order to attract and retain donors.
11:20 a.m. – 12:10 p.m. Audit and Accounting Update (A&A)
Allan C. Klose, CPA, CBIZ & MHM, LLC
At the end of this session, you will be able to identify key accounting changes and upcoming changes to the FASB standards that may have an impact on your organization. You will also be able to prepare preliminary impact assessments to determine the significance of the standard(s) and potential resource needs.
12:10 – 12:40 p.m. Lunch Break
12:40 – 1:30 p.m. Breakout #1
Lessons Learned in Revenue Recognition (A&A)
Pamela J. Eggert, CPA, Eide Bailly LLP
Gregory Michael Coy, CPA, Gregory Michael Coy, CPA, PLLC
Mark Hoover, CPA, Mark Hoover, CPA
On the heels of two significant revenue recognition standards, we will be providing real life examples of applying the standards. Hear lessons learned from three different perspectives to help you apply the standards in your organization going forward.
Investment Policy Design in a Muted-Return Environment (SK)
Frank Sutton, CFA, Northern Trust Company
Above average returns over the last decade are unlikely to be repeated due to low bond yields and high equity valuations. This session will provide attendees with a framework to align investment and spending policies with muted return expectations.
1:45 – 2:35 p.m. Breakout #2
Care and Feeding of Your Not-for-Profit Leadership (SK)
Lisa B. Lumbard, CPA, CGFM, Certified Board Governance Trainer, Lumbard Consulting, LLC
Whether you serve on a not-for-profit board or report to one, there are key principles of good governance and reporting that you should know. Your not-for-profit leaders are not all going to be CPAs, but there are key financial areas they need to be familiar with to fulfil their responsibilities. Learn the difference between management and governance, as well as board fiduciary responsibilities and practical tips for effective board operations.
Elegant Financial Systems Design (SK)
This session will guide you through designing accounting and reporting systems that produce financial information that is simple and complete, informative and concise, sophisticated and accessible. You will learn how to structure financial systems to be wholly in line with nonprofit mission and in service of organizational success. You will gain an understanding of elegant design principles for use in building out the chart of accounts, cost centers, allocation processes and report formats necessary for truly effective nonprofit accounting.
2:50 – 3:40 p.m. Breakout #3
An Update From Washington (Tax)
Brenda Ann Blunt, CPA, Eide Bailly LLP
Stay in front of the latest developments coming from Congress, Treasury and the IRS impacting nonprofits. Prepare your organization for recent and upcoming changes to the law, how it is being enforced and identify resources to stay up to date.
Charitable Gaming: House Rules & Limits (SK)
Aiden Fleming, Arizona Department of Gaming
What should be avoided and how can a charity raise funds for their causes but be sure they aren’t running afoul of the law? The Arizona Department of Gaming is here to help. We will discuss the types of legal and illegal gambling in Arizona, the laws that govern the space and how charitable organizations can stay within the legal limits.
3:55 – 4:45 p.m. Breakout #4
Single Audit Update (A&A)
Jill A. Shaw, CPA, Heinfeld, Meech & Co., P.C.
Single Audits have been significantly impacted by the various types of COVID-19 federal funding. In this session, we will cover all the latest Single Audit developments affecting not-for-profit organizations.
Finance Team of the Future: How to Use Your Data to Lead and Be More Resilient (SK)
Nathan McMurtrey, Eide Bailly LLP
Join us in imagining how finance teams might look in the (very near) future, and how they are using data to lead the organization and make it more resilient. After this session, you will be able to define what it means to be a data-driven finance team, discuss how to use data analytics to drive results and aid decision making, and review real-life examples of data in action.
Thank You to Our Sponsors
Eide Bailly LLP
CBIZ & MHM
Your Part-Time Controller
This conference is designed for CPAs and individuals working for and with nonprofit organizations and will provide specific, practical coverage of critical nonprofit accounting, tax and legal issues.
Minniti, Robert K.
Dr. Robert K. Minniti, is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona. Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College. He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for the American Institute of Certified Public Accountants, Compliance Online, Wolters Kluwer CPE Link/CCH, AccountingEd, Global Compliance Panel, Clear Law Institute, CPE Solutions, Canopy CPE, BankersWeb, Global CPE, The Institute of Management Accountants, the National Association of Valuators and Analysts, the Association of Certified Fraud Examiners, the Institute of Internal Auditors, various state CPA Societies, and corporate CPE training. Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.
For Additional Information
LinkedIn Profile: www.linkedin.com/in/robertminniti
Company Website: www.minniticpallc.com
Zelhart, Sarah Christine
Sarah Zelhart, CPA, CGMA, has served for more than 20 years in both corporate and not-for-profit environments. She currently serves as Director of Chapter Financial Support and Compliance for Make-A-Wish America supporting the 60 chapters nation-wide.
Within these roles she has concentrated on internal controls, process improvement, mergers and acquisitions. With a continuing eye to determining and implementing best practices, she has dedicated her professional life to creating environments with transparent operations and strong governance.
She volunteers with the Valley of the Sun United Way, as a Wish Granter and the Steering Committee for the Not for Profit Section of the ASCPA.
Eggert, Pam Jean
Pamela J. Eggert joined Eide Bailly in 2006 and her public accounting experience extends to a variety of clients, primarily including nonprofit organizations and affordable housing projects. Eggert helps her clients implement new and upcoming standards that have an impact on their organizations. Throughout the audit, she helps oversee the process from beginning to end and serves as a resource for clients.
Eggert works closely with her clients to understand their organizations and to ensure their company is staying up to date with ever-changing requirements. With Eggert, you can expect a hands-on approach and timely service, so you can focus on achieving your goals.
Outside of providing audit work to her clients, Eggert serves on the board of directors for Arizona Animal Welfare League as the Vice Chair. She can also be found spending her free time with her family. This mostly involves spending time outside, exploring new hiking spots with her 2 little boys.
Aiden Fleming is an Assistant Director for The Arizona Department of Gaming. In his capacity, he oversees all communications for the department and serves as the liaison to the Governor’s Office and State Legislature specializing in the areas of Tribal Gaming, horse racing, unarmed combat sports and off-reservation illegal gambling.
Before joining The Department of Gaming, Fleming had a stint at the Arizona State Senate and spent nearly six years working for The Arizona Department of Education as a program manager, legislative liaison and finally as a Deputy Associate Superintendent in charge of state policy. Fleming has drafted, lobbied and passed dozens of pieces of legislation, created statewide programs, managed federal grants and staffed several statutory committees. He holds a bachelor’s degree from Arizona State University.
McMurtrey leads the Eide Bailly Analytics practice and helps companies make the most of their data. He believes data can be an asset to any company, but it takes expertise and understanding to get a return on analytics. He helps companies automate data preparation, build reports and dashboards, and consults on using data to make better decisions.
Coy, Gregory M.
Gregory Coy is the Director of Audit Services and the founding partner of Gregory Michael Coy, CPA, PLLC in Phoenix, Arizona. Coy has been dedicated to serving the not-for-profit community for over 25 years as an external auditor, internal auditor, tax preparer, forensic & fraud examiner and providing other consulting services to not-for-profit organizations. Coy was formerly the Vice President of Internal Audit and Compliance at Arizona State University Foundation. Prior to joining ASU Foundation he was the not-for-profit sector audit manager for Grant Thornton in San Francisco, California and was a not-for-profit auditor for CBIZ/MHM in Phoenix, Arizona. Coy is a member of the Arizona Society of CPA’s (ASCPA), the American Institute of CPA’s (AICPA), the Association of Certified Fraud Examiners and a past member of the Institute of Internal Auditors.
Coy spends much of his time instructing CPA’s, board members and others about not-for-profit accounting, auditing and tax. He formerly served on the AICPA Not-for-Profit Financial Executive Forum conference planning committee and was an instructor at that conference. Coy has served for many years on the Arizona Society of CPA's Not-for-Profit Conference planning committee and has been an instructor at the annual Not-for-Profit Conference. He also served as a Subcommittee Chair for the 2nd Edition revision of the AICPA Not-for-Profit Audit Committee Toolkit and has served as a board member, and Treasurer for numerous not-for-profit organizations.
Shaw, Jill A.
Jill A. Shaw, CPA is managing partner of the public accounting firm HeinfeldMeech. She currently manages audit services for nonprofits, municipalities, school districts, and other local governments out of their Phoenix office. In her role as a partner Shaw provides guidance and training on accounting and auditing issues including accounting pronouncements, auditing standards and Single Audits. She is the coordinator of the firm’s lunch and learn program which provides ongoing trainings regarding a variety of finance related topics for nonprofits. She also serves as a Board member with Girls on the Run serving Maricopa and Pinal Counties.
Blunt, Brenda Ann
Brenda A. Blunt has over 30 years of experience providing services to tax-exempt entities, closely-held business and their stakeholders. She provides income tax compliance and planning for individuals, corporations, partnerships and tax-exempt entities and represents clients before the Internal Revenue Service and state taxation authorities. Tax-exempts and their related entities comprise approximately 90% of her clients. She helps these clients, in particular, comply with and plan for sales, payroll and property taxes; consults with them regarding the tax and accounting impact of multiple-entity structures; helps with international tax issues; works with them to establish or reinstate their status as tax-exempt and helps them plan for the tax aspects of unrelated business income and executive retirement. Blunt is a frequent teacher nationally, locally and at the organization level on topics that include health care reform, board responsibilities, tax compliance, strategic planning, and financial management principles for nonprofits.
Blunt currently represents almost 200 nonprofit organizations ranging in size from formation-stage organizations to multi-million organizations with international reach. Her client base includes public charities, private foundations, trade associations, social welfare organizations, cooperatives and unions. She is passionate about working with organizations in the nonprofit sector, in no small part because of their passion to make the world she lives in a better place.
Klose, Allan C.
Allan Klose is a shareholder in CBIZ's Phoenix office and has extensive experience in the provision of auditing and accounting services to both privately held companies and public companies ranging in size from development stage companies to large international organizations.
Klose spends a substantial portion of his time serving not-for-profit organizations. He has extensive experience assisting clients with a variety of accounting issues including contribution revenue recognition and the reporting of endowments. Klose also has specific expertise working with the real estate industry, including providing services to single-family homebuilders, multi-family property developers, real estate investment funds, hospitality developers and managers, commercial property developers and others within the industry. In addition, he serves clients in the general commercial and financial services industries
Mark Hoover, CPA has worked for more than 30 years with not-for-profit organizations as a staff member, consultant and board member. Some of the organization that he has worked with are St. Mary’s Food Bank, Girl Scouts, American Society of Radiologic Technologists, The Phoenix Symphony and Mayo Clinic. Hoover also has extensive experience in technology including selecting and implementing various financial systems. He has also managed the human resources and facilities management functions. Hoover has served for over 20 years with the Arizona Society of CPAs in the not-for-profit area including speaking at prior NFP Conferences.
Jacqueline Eckman is a principal in the nonprofit group of CliftonLarsonAllen (CLA). Although her primary background is in audit and accounting, she has spent a significant amount of time consulting on tax and other issues affecting nonprofits. Eckman has more than 20 years of public accounting experience. She has extensive experience serving a wide variety of clients of all sizes, from large, complex national organizations to local social service agencies. She serves as an audit and accounting instructor internally for CLA, training staff on accounting and auditing changes and other topics affecting nonprofits. She has also taught at a number of seminars on various topics, including sessions on upcoming FASB reporting standards changes for nonprofits, financial reporting for church business administrators, and best practices for documenting nonprofit compensation.
Lumbard, Lisa B.
Lisa B. Lumbard, CPA, CGFM, has been in public accounting for over 35 years with 10 years serving small businesses and 25 of those years as the head of Lumbard & Associates, PLLC, an auditing firm that specialized in not-for-profit and governmental audits. Through her current firm, Lumbard Consulting, LLC she serves as a not-for-profit consultant and leadership trainer. She holds a Certificate for Nonprofit Board Consulting from BoardSource, received the Executive Leadership Certification from the ASU Lodestar Center for Philanthropy and Nonprofit Innovation. She began board service while attending ASU and still serves on multiple boards and committees including the Arizona State Board of Accountancy to which she was appointed by the Governor in 2019, Arizona Society of CPAs not-for-profit conference committee, Valleywise Health financial and compliance committee, the Alliance of Arizona Nonprofits public policy committee and the Arizona Hispanic Chamber of Commerce finance committee. Lumbard is a frequent speaker at industry conferences and webinars. She is passionate about the importance, empowerment and success of not-for-profit organizations as they play a key role in our nation.
Frank Sutton is a Vice President and Senior Portfolio Manager in the West Region of Northern Trust’s Foundation & Institutional Advisors practice. Prior to joining the Foundation & Institutional Advisors practice in 2010, Sutton was a research analyst at Northern Trust Global Advisors, Inc. in Stamford, CT. There, he was a member of the hedge fund research team responsible for manager research and ongoing monitoring and analysis. Before joining the hedge fund research team, he worked on the client service and program management team at Northern Trust Global Advisors, Inc.
Prior to joining Northern Trust in 2001, Sutton worked on manager research and due diligence at Highland Associates, an investment consultant. He holds a B.S. degree from Brigham Young University-Hawaii and an MBA from Brigham Young in Provo, Utah. He is a CFA charterholder and a member of The Phoenix CFA Society and the CFA Institute.
Committee Chair: Lisa B. Lumbard, CPA, Lumbard Consulting, LLC
Conference Committee Members:
Kristen M. Bass, CPA, CBIZ & MHM, LLC
Brenda Ann Blunt, CPA, Eide Bailly, LLP
Gregory Michael Coy, CPA, Gregory Michael Coy, CPA, PLLC
Jacqueline Eckman, CPA, CLA (CliftonLarsonAllen LLP)
Pamela J. Eggert, CPA, Eide Bailly, LLP
Robert J. Fullerton, CPA, Grass Coffey & Scharlau CPAs PC
Kathy L. Gerhart, State Bar of Arizona
Mark Hoover, CPA, Mark Hoover, CPA
Karen Doyon Lord, CPA, Henry+Horne
David G. Miller Jr., CPA, CBIZ & MHM, LLC
Amy O'Loughlin, CPA, CBIZ & MHM, LLC
Tess L. Ridgway, CPA, Tess L. Ridgway, CPA
Jill A. Shaw, CPA, Heinfeld, Meech & Co., P.C.
Julie A. White, CPA, Habitat for Humanity Central Arizona
Sarah C. Zelhart, CPA, Make-A-Wish America