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Not-for-Profit Summit

May 9, 2013 @ 8:00 AM (EDT) - 5:00 PM (EDT)

Sponsored by SC&H Group, SunTrust Bank and Miles & Stockbridge

SC&H Group, SunTrust Bank and Miles & Stockbridge hosted a Not-for-Profit Summit in Timonium, MD. We hope you were able to attend this informative session. However, for those that were unable to attend, we have provided below a brief synopsis of each of the topics as well as a link to the presentations.

Overall Update on Economy

This session was presented by Taylor Howerton, Director, Tax-Exempt Financial Risk Management Division, SunTrust and focused on the recent state of the economy, the central bank policy and the implications for interest rates. Mr. Howerton’s presentation was informative and included insight on the current economic recovery, monetary policy and market responses and concerns and optimism surrounding the future.



Healthcare Reform Penalties and Employer Strategies

Lesli Corbin, Vice President of HR Professional Services at WorkforceTactix, discussed the challenges employers are facing in light of the ongoing implementation of healthcare reform. She provided insight as to recent developments, issues on the horizon and actions that employers should take to prepare for ramifications of health care reform. As Ms. Corbin noted, due to the nature of the constantly evolving healthcare reform regulations, employers must stay on top of the regulations to avoid incurring penalties or other unforeseen consequences.



Emerging Payment Strategies

Presented as a panel with Lisa Quinting, Director of Accounting at The Park School of Baltimore, Mike Young, Director with SC&H Group and Mike Kelley, VP, Treasury Management Consulting, at SunTrust, this informative session discussed emerging payment options and the opportunities available to not-for-profit organizations as a result of the advances in banking technology. Lisa shared Park’s School’s experience in implementing purchasing cards and the benefits currently being realized by Park School. Lastly, Mike Young and Lisa discussed internal controls over cash disbursements and the automation of internal controls in an electronic banking environment.



Accounting and Tax Update

The accounting and tax update was presented by Becky Forsythe and Lori Burghauser of SC&H Group. Ms. Forsythe’s presentation included the 2013 Not-for-Profit Audit and Accounting Guide, recently issued accounting standards, pending accounting standards and projects, and the convergence of US GAAP with IFRS with respect to revenue recognition and leases. Ms. Burghauser presentation included topics such as the American Taxpayer Relief Act of 2012, new tax regulations and guidance impacting not-for-profit organizations, the IRS’ release of its College and University study, updates to the Form 990 and the tax impact of Health Care reform.



The Tax Aspects of Tax Exempt Financing for Charitable Organizations

Presented by Harold Altscher, Principal with Miles & Stockbridge, this information session discussed the tax aspects of tax exempt financing, proposed Federal Tax Legislation related to this type of financing, IRS enforcement and audits, the IRS VCAP program, as well as IRS Continuing Compliance requirements including IRS Form 990 and Schedule K.


Identifying Strategic Moves: When and How to Change Asset Allocations to Make the Most of a Dynamic Market

Presented by Alan McKnight, Managing Director, Head of Institutional Investments, SunTrust Bank, this engaging session touched on the responsibilities of the Board over the investment of funds, the various investment management models and strategic and tactical asset allocations. While Mr. McKnight noted that utilizing both strategic and tactical allocations, organizations can meet their investment objectives.



We will also be hosting a similar NFP Summit in the Fall, 2013 in Washington, D.C. Please be on the look-out for information on this event in the near future!



May 9, 2013
8:00 AM (EDT) - 5:00 PM (EDT)