2024 year in review: Not-for-profit and higher education update

Looking back and planning ahead on key accounting, tax and industry insights

2024 was a transformative year for the not-for-profit (NFP) and higher education industries. From evolving regulatory requirements and presidential election impacts to technological disruptions (like the rise of artificial intelligence) and workforce challenges (including increased leadership turnover), NFPs faced myriad issues and opportunities that will continue to affect these organizations, including colleges and universities, in 2025.

Join us for a 2-hour in-depth discussion on key changes and events from the past year and how to navigate the future of this unique industry landscape. Our NFP and higher education sector-specialized team will reflect on important issues and guide you through effective strategies on numerous financial, accounting and operational topics imperative to growth, sustainability and success.

Don’t miss this annual CPE session focused on helping your organization drive its mission forward.

Learning objectives

1. Gain perspectives from recent Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) meetings on accounting standards, select FASB projects and financial reporting implications of NFP industry trends and observations
2. Discuss the broad challenges and opportunities experienced during current expected credit losses (CECL) adoption
3. Navigate situations and events that may require reassessment of audit procedures for the allowance for credit losses
4. Understand both management's and the auditors’ responsibility relating to ASC 205-40, Going Concern
5. Explore recent challenges with going concern assessments in the current economic environment
6. Recognize where the Employee Retention Credit (ERC) stands and the latest guidance from IRS audits and evaluate if your organization should payback ERC funds or still apply for 2021
7. Assess new and current tax regulations, their potential impact on your NFP and how to develop strategies to prepare your organization effectively 

Meet this year’s presenters and industry specialists

• Nicki Donlon, CPA, Principal
• Ellen Labita, CPA, Principal
• Troy Marine, CPA, Director
• David Sacarelos, CPA, CGMA, Principal
• Mike Wascura, CPA, Principal

Who should attend

Executive leadership and accounting and finance professionals, including CEOs, CFOs, COOs, controllers, audit and finance committee members and board members from any type of not-for-profit organization or higher education institution.