Accounting Endowments of Not-for-Profit Organizations After UPMIFA
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CD & Manual | ||
| 389404TMX | $199.00 USD |  |
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93 Min. Audio MP3 - No shipping cost | ||
| 389404POD | $199.00 USD | |
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| What is a Podcast? | |||
Benefits
In response to the enactment of the Uniform Prudent Management of Institutional Funds Act in most of the United States, the Financial Accounting Standards Board, in 2008, promulgated FASB Staff Position No. FAS 117-1. FSP FAS 117-1 provides guidance for nonprofits as to the proper classification of endowment funds when UPMIFA has been enacted and expands the required disclosure about endowment funds.
The replacement of the prior legal restrictions of historic dollar value with the seven articulated standards of prudence set forth in UPMIFA has thrown into some turmoil the rules governing how a nonprofit organization should present its financial condition. The requirements of UPMIFA as a state statute and FSP FAS 117-1 as an accounting requirement often appear to be and perhaps are in conflict. This live audio conference will review these requirements and attempt to provide useful guidance in reconciling the accounting standards and the law, with a particular emphasis on how to report expenditures from so-called underwater funds. The program will review the two sets of requirements, and help you better understand the similarities and the critical conflicts between UPMIFA and FSP FAS 117-1.
Agenda
| Elimination of Historic Dollar Value as a Legal Requirement | |
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| UPMIFA Accounting Issues | |
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| The Optional Seven Percent Spending Rule | |
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| Transition | |
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Faculty
Ian J. Benjamin, CPA, McGladrey & Pullen, LLP
Barry C. Hawkins, Shipman & Goodwin LLP
Ian J. Benjamin, CPA
- Partner at McGladrey & Pullen, LLP
- Leader of the Northeast Not-for-Profit Services Practice based in New York City and member of the National Leadership Team for not-for-profits
- More than 25 years of experience serving not-for-profit organizations
- Regularly speaks on issues affecting the not-for-profit community
- Member of various professional organizations
- Licensed as a CPA in New York, New Jersey, Connecticut and the District of Columbia
- B.A. degree in law, University of Kent, England
- Can be contacted at 212-372-1480 or Ian.Benjamin@mcgladrey.com
Barry C. Hawkins
- Partner in the office of Shipman & Goodwin LLP in Stamford, Connecticut
- Uniform law commissioner and chairman of the drafting committee for Uniform Prudent Management of Institutional Funds Act
- Member of the Joint Editorial Board Uniform Real Property Acts
- Division chair of Uniform Law Commission
- Chairman of the UPMIFA Enactment Committee of Uniform Law Commission
- Fellow of American College of Real Estate Lawyers
- President elect of the Connecticut Bar Association
- House of Delegates, American Bar Association
- Practice emphasizes all aspects of real estate, commercial finance, construction and real estate litigation, environmental and land use, and alternative dispute resolution
- Speaks on topics relating to the areas of real estate and the Uniform Prudent Management of Institutional Funds Act
- Writer of several publications related to real estate and UPMIFA
- Achieved the highest rating in the Martindale-Hubbell Law Directory
- Listed in Chambers USA: America’s Leading Lawyers in the area of real estate, Best Lawyers in America for real estate law and Connecticut Super Lawyer for real estate
- J.D. degree, University of Virginia School of Law; B.A degree in history, with honors, Bowdoin College
- Can be contacted at 203-324-8104 or Bhawkins@goodwin.com
These Materials are Designed For
This live audio conference is designed for accountants, attorneys, executive directors, officers, board members, controllers, CFOs, tax managers and enrolled agents.
| CD & Manual | - CD Set with bound 30 page manual |
| Podcast | - 93 Minute MP3 with 30 page electronic manual - Immediate Access and No Shipping Cost |
