TITLE : How to read Nonprofit Financial Statements
CITY : Washington , DC
DATE : Thursday, November 04, 2010
TIME : 8:30 AM - 12:00 PM
PRICE : $ 110.00
How to read Nonprofit Financial Statements
 


Board members and nonprofit executives are required by law to protect their organization's fiscal health. Boards and staff traditionally exercise this responsibility by putting together and approving the annual budget. However, a board can only approve the budget if it receives clear, intelligible, accurate and timely financial reports. The problem is that even when these reports are provided, they are difficult to decipher. This course will develop your ability to interpret the major financial accounting statements that are used by nonprofit organizations. You will gain an understanding of the types of financial statements that are used by non-profit organizations, and how they differ from for profit financial reporting.
This session will explore the following topics in detail:
- The documents and financial statements included in a nonprofit organization's financial report
- Financial ratio analysis, its objectives and limitations
- The information found in non-profit statements of financial positions, statement of activities and statement of cash flows
After attending this session, you will understand the power and limitations of accounting information in assessing financial performance and decision-making.
This session is intended for Board Members, Executives and Senior Staff.
Speakers for this session:

Keith Danos
Chief Financial Officer
Jewish Foundation for Group Homes

Keith has been involved in financial management for over 32 years. In his current position, he is responsible for fiscal budgets for Jewish Foundation for Group Homes (JFGH) and day-to-day management of the agency's finances. Keith directs the Finance, IT and Property Management staff and timely prepares and presents monthly financial reports. Keith's leadership has maintained balanced budgets over the last four years. Previously, as Controller at iGetSmart.com, Keith prepared timely financial reports and analysis. Keith led the financial transition of acquisitions and established operating budgets for all nine operating locations. Before that, he served as an Operating Unit Controller with The New York Times Company. Keith was selected as one of 16 New York Times Company financial executives on a Financial Re-engineering Team. Keith served as Controller and Facilities Director for the NYT Shared Services Center, where he managed the expenditures related to the development of the center and developed cost allocation methodologies. Keith currently serves as a member of the Special Needs Ministry for Blessed Sacrament Church in Washington DC and is a member of the Maryland Association of Community Services (MACS). He earned his Bachelors degree in Accounting from Loyola University of New Orleans.

Mary Anne Hakim
Principal
LarsonAllen LLP

Mary Anne has worked exclusively with not-for-profit organizations since 1993. She has a comprehensive knowledge of all areas of not-for-profit accounting. She has performed interim CFO duties, prepared accounting policies and procedures manuals, finance and accounting system assessments, and efficiency studies, and has assisted in accounting system conversions, and preparing federal grant and indirect cost rate proposals for a variety of not-for-profit clients. She has made numerous presentations on topics relevant to not-for-profit organizations including how to prepare Federal Forms 990, 990-PF and 990-T, compliance with SFAS 116, 117 and 124, cost allocation methods, assisting Board members to read and understand financial statements; and has authored various articles on not-for-profit tax and finance. She is a member of the AICPA, GWSCPA, and VSCPA. Mary Anne graduated from Georgetown University’s School of Languages and Linguistics with a Bachelor of Science Degree in Languages and holds her Masters of Science in Taxation from the Kogod School of Business at American University. She has a doctorate in law from Kaplan University’s Concord Law School.

Dennis F. Shine
Partner
RAFFA, PC

Dennis has been involved in accounting, financial management and consulting for over 19 years. His other responsibilities include teaching clients and board members how to read/understand nonprofit financial statements and the fiscal responsibility as a board member. Previously, as Director of Finance and CIS at Gifts In Kind International, Dennis was responsible for making presentations of financial results to President and CEO, senior staff and the Board of Directors. Dennis currently serves as the Treasurer for Greater DC Cares and Sons and Daughters In Touch. He earned a BS degree in Accounting from Nichols College. He is a member of the American Institute of Certified Public Accountants and is a Certified Public Accountant licensed in DC and Virginia.

 

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