2024 Florida Nonprofit Training Academy

Registration

Welcome and housekeeping

Presented by Tina Henton

This session will include a discussion on the public support test and the compliance reporting for Schedule A — Public Charity Status and Public Support and Schedule G Supplemental Information Regarding Fundraising or Gaming Activities.

We’ll cover how the amounts are reported on the forms and the importance of the schedules with respect to your organization’s continued status as a public charity.Valuable information and practical tips will be provided to help you navigate the complex world of 990 reporting.

At the end of this session, you will be able to:

• Outline leading practices for completing the schedules accurately and efficiently
• Recognize the criteria used to evaluate the public support test
• Recall practical tips for supporting compliance with IRS regulations

Presented by Kristen Labbe and John Lawton

In this session, participants will gain a better understanding of the month-end close process and learn recommended practices for improving efficiency and accuracy.

At the end of this session, you will be able to:

• Recognize the importance of the month-end close process
• Identify common challenges and recommended practices for improvement
• Identify ways to introduce or enhance technology in the process

20-minute break

Presented by Doug Wells

This session is designed to help businesses and organizations manage cash flow effectively. The program provides a comprehensive analysis of cash inflows and outflows, enabling businesses to make informed decisions about their financial operations.

At the end of this session, you will be able to:

• Explain the importance of cash flow when managing a business
• Identify key nonprofit cash reports and how they are used
• Recognize the reports needed to manage the business at all organizational levels
• Discuss how to read, understand, and ask good questions about key nonprofit financial reports

Presented by Katelyn Brennan, Tori Lehman and Amy Cooper

In this session, attendees will learn about revenue recognition and endowment accounting. These are two important topics that can have a significant impact on financial statements, particularly for nonprofit organizations.

At the end of the session, you will be able to:

• Recall how to apply revenue recognition principles and requirements
• Recognize different types of revenue
• Identify endowment accounting and reporting requirements
• Identify different types of endowments and how they should be accounted for
• Recall how to apply endowment accounting principles to nonprofit organizations

Lunch and networking

Presented by John Lawton and Julie Brito

This session will include a discussion on single audits and leading industry practices. We’ll discuss the latest developments and changes related to the single audit process and how they could impact nonprofit organizations.

At the end of the session, you will be able to:

• Recall the latest developments and changes related to the single audit process, including key information in the 2024 Compliance Supplement and specific program updates of relevance to nonprofit organizations
• Recognize the roles and responsibilities of auditors, auditees, and other stakeholders involved in the single audit process
• Identify recent changes to audit requirements and how they may impact the single audit process
• Discuss the importance of effective communication and collaboration between auditors and auditees during the single audit process
• Identify the GAQC/AICPA resources and tools available to auditors and auditees to help them navigate the single audit process

Presented by Kristen Labbe, Tori Lehman, John Lawton and Tina Henton

In this panel discussion, attendees will have the opportunity to ask their accountant questions about the audit, tax, and outsourcing process. The panel will consist of experienced accountants from CLA who will provide insights into the various processes and answer questions from attendees.

At the end of the session, you will be able to:

• Recall what you learned from experienced accountants
• Identify different approaches, strategies, and leading practices
• Identify emerging trends and developments related to the nonprofit industry

20-minute break

Presented by Kent Hollrah

This session will help attendees understand when they should consider changing their financial system and what to look for in a new solution. The session will provide a framework to determine when an organization has outpaced their current software and will provide a roadmap for navigating the task of selecting a new one.

At the end of this session, you will be able to:

• Identify how to determine when you have outgrown your financial software
• Identify different solutions to consider in evaluating new software
• Define the critical decision points in choosing a new solution
• Identify the process to determine the return on investment of a new solution

Presented by Mike DePrima

The Inflation Reduction Act of 2022 (IRA) and the Bipartisan Infrastructure Law enacted in 2021 created unprecedented opportunities and groundbreaking possibilities for leveraging clean energy tax credits for both taxpaying and tax-exempt organizations, including state and local governments, nonprofits, and higher education institutions. We’ll distill this landmark legislation and outline how your organization can take advantage of its benefits.

At the end of the session, you will be able to:

• Describe the various tax credit opportunities created by the IRA
• Recall how credit refunds and transfers operate under the IRA
• Describe the latest legal and regulatory updates under the IRA
• Identify how to plan for clean energy investments within your agency or entity
• Recognize grant opportunities for local governments included in the IRA and Infrastructure Law

Closing thoughts