SunTrust, SC&H Group and our invited panel of experts spoke about current issues facing not-for-profit organizations and the strategies and best practices to manage them.
Keynote: Economic Update
Fred discussed the latest on the state of the economy, why the current conditions are both unique and challenging, and what the intersection of multiple economic crosscurrents could mean for growth, interest rates, and the investing markets over the coming year. Presented by: Fred Walls, SunTrust
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Breakout Sessions
- Session 1: 403(b) Plan Checklist of Best Practices for Plan Sponsors
Fiduciary roles and responsibilities and administrative “must dos” were covered. Best Practices that all plans should employ were shared as well as plan design and participant communication and education strategies to improve participant retirement readiness.
Presented by: Geoff Suval, RCM&D
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- Session 2: Accounting and Tax Update
This session provided a preview of changes to the not-for-profit accounting framework and lease accounting that are currently under consideration, and provided guidance on revenue recognition issues unique to not-for-profits. Presented by: Mike Lynch and Lori Burghauser, SC&H Group
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General Session: Sound Governance Practices
In this session, Joe focused on basic definitions, roles and responsibilities of the Board, standard governance documents and operating structure. The presentation include a discussion about the changes to the COSO framework introduced in 2013 and applicable to internal control issues for 2014 and beyond.Presented by: Joe Freiburger, SC&H Group
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General Session: Financing for Not For Profits
Tax exempt financing remains the lowest cost source of financing for not-for-profit borrowers who can qualify and whose financing need is large enough to justify the higher transaction costs. This session focused on the key tangible and intangible performance criteria used by financial institutions in the assessment of a not-for-profit’s credit profile. Presented by: Carlene Messam, SunTrust
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Breakout Sessions:
- Session 3: Restricted Gifts and Gift Acceptance Policies
This presentation provided an overview of current trends and developments relating to these issues, as well as best practices to safeguard against unintended consequences from the acceptance of particular types of gifts. Presented by: Yosef Ziffer, Venable
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- Session 4: Drive Unnecessary Costs Out of Your Organization: IT Strategy Tips for the Non-Technical Executive
Understand how technology, when implemented properly and with a strategic vision in mind, can be an effective enabler of growth and change. Attendees learned the keys to creating a nimble IT strategy that aligned with their organization’s goals to increase constituent satisfaction, operational efficiency, and profit margin while mitigating expense and risk. Presented by: Tim Kobosko, Hartman Executive Advisors
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Closing Session: Investment Outlook Review
Andy focused on investment strategies and ideas in context of current market conditions and economic indicators. Presented by Andy Richman, SunTrust
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