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.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on May 6, 2024.
Call 1-866-352-9540 for further credit information.
- AR CLE 1.0
- This course has been approved for 1.0 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.0
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.0 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.0
- Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.0 CLE hours of participatory credit.
- CT CLE 1.0
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.0 CLE credit(s).
- GA CLE 1.0
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.0 CLE hours.
- HI CLE 1.0
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.0 CLE credit hours.
- MO CLE 1.3
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.0
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 63 Minutes.
- NJ CLE 1.3
- This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.3 hours of total CLE credit.
- PA CLE 1.0
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.0 hours of substantive law, practice and procedure CLE credit.
- RI CLE 1.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.0 hours of CLE credit.
- VT CLE 1.0
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.0 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WI CLE 1.0
- This program qualifies for 1.0 hour(s) of ondemand CLE through the WI Board of Bar Examiners.
- WV MCLE 1.3
- This program has been approved by the West Virginia State Bar MCLE Commission for 1.3 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
MP3 Download
- Arizona CLE 1.0
- CA MCLE 1.0
- CT CLE 1.0
- HI CLE 1.0
- NJ CLE 1.3
- VT CLE 1.0
- WV MCLE 1.3
- WY CLE 1.0
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Mona M. Birchfield, CPA
CliftonLarsonAllen LLP
- Principal in the Nonprofit Outsourcing Practice of CliftonLarsonAllen LLP
- 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; holds a Not-for-Profit I and II certificate from the American Institute of CPAs, for which she has been a member since 2010
- Technical experience includes cloud-based financial management systems and nonprofit entities
- American Institute of Certified Public Accountants; board of directors, Northern Virginia Chamber of Commerce, July 2020
- M.S. degree in interdisciplinary studies, University of Maryland, Adelphi, MD; B.S. degree in accounting, with a minor in business administration, University of Maryland, Adelphi, MD
- Can be contacted at 571-227-9546 and [email protected]
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
- Can be contacted at 571-244-5626 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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