Briefing on the Biggest Change to Nonprofit Accounting in the Past 20 Years
Complimentary Webinar Presented by
the NACD Northern California Chapter and Sponsor Armanino LLP
You are likely asking yourself, why would we host a program related to nonprofit organizations? The answer is simple: many of our members serve on boards of the most prominent and impactful nonprofit organizations around. And this year, their strategy and insight will be needed more than ever. Recently implemented accounting rules require every nonprofit to disclose its liquid and available resources for everyone to see. Some organizations with substantial endowments might end up appearing to be very fiscally constrained, which is historically frowned upon by donors. Other organizations might appear to be sitting on reserves so plentiful that no donor would ever identify them as “needy” and thus send their dollars elsewhere. NACD Northern California Chapter Finance Chair Liz Fetter and Armanino Partner and CPA Stacie Kowalczyk led this webinar to explain this financial reporting change, how nonprofits can tell their story, and most importantly, how they can strategically capitalize on this opportunity.
Why did we hold this program?
The biggest change in the nonprofit world is upon us. Is your nonprofit fearful or strategic about disclosing its financial liquidity?
Review of the liquidity standard
Potential liquidity disclosures
Strategy on liquidity best practices to help your nonprofit today
Liz Fetter is a seasoned technology CEO who has served on 10 public boards of directors and a number of private company boards. Since 2014, she has served on the board of McGrath RentCorp, where she chairs the Compensation Committee and serves on the Nominating & Governance Committee. She recently joined Fox Factory as a director, serving on both Audit and Compensation Committees. She also recently rolled off as director and vice chair for Alliant International University Inc. and has also served on the boards of Symmetricom Corp. and Quantum Corp., chairing the Compensation Committees and serving on the Audit Committees. Fetter also contributes as a director to a number of technology start-ups and has been a director on a dozen not-for-profit boards. She currently is on the Executive Advisory Committee to the President of Penn State University.
Stacie Kowalczyk has more than 14 years of experience in public accounting. She specializes in serving nonprofit organizations, higher education, social service, healthcare, and religious organizations, and she has extensive experience providing single audit services.