June 7 - 9, 2021

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AICPA & CIMA Not-for-Profit Industry Conference

Join AICPA & CIMA for a big-picture view of all things not-for-profit accounting at the 2021 Not-for-Profit Industry Conference. Between tax reform, ASU updates, Uniform Guidance and much more, it’s been difficult to keep up with the recent changes. GRF’s Accounting, Tax and Advisory professionals will present sessions ranging from understanding UBIT to assessing risk with Enterprise Risk Management.

Sessions and Featured Speakers

Introduction to UBIT: Do You Owe Tax as a Tax-Exempt Organization?

June 7 | 1:25 PM – 2:40 PM

Richard J. Locastro, CPA, JD & John Crawford, CPA, JD (Ernst & Young LLP)

Tax-exempt organizations are generally aware that they may be subject to the unrelated business income tax (UBIT) on income derived from certain types of activities, despite being recognized by the IRS as organizations that are otherwise exempt from income tax under Section 501(c)(3) or under other provisions of U.S. Internal Revenue Code Section 501(c). Whether the UBIT applies in a particular instance or to a particular activity, however, may not always be clear.


GRF Solution Session: Keep Calm and Assess Your Risk with ERM 

June 8 | 9:30 AM – 10:20 AM

Melissa Musser, CPA, CITP, CISA &  Joe Pugh (Enterprise Risk Management (ERM) & Compliance Director at AARP)

Enterprise Risk Management (ERM) is more important than ever – is your organization onboard? Nationally-recognized nonprofit risk experts present the many lessons learned by nonprofits and associations during the COVID-19 pandemic. Learn how ERM helped organizations navigate and survive during the unprecedented crisis.

Learning Objectives:

  • Understand today’s top threats to nonprofits
  • Apply best practices used by your peers
  • Select strategies to help mitigate risk during difficult times
  • COVID-19 specific guidance


Related Party Reporting: Examination of Schedule R and Schedule L

June 8 | 12:50 PM – 2:05 PM

Richard J. Locastro, CPA, JD, Cherie Williams (Tax Manager at Windes, Inc) & Lauren Haverlock, CPA (Senior Manager at Moss Adams)

The Form 990 requires reporting of relationships and transactions with external entities. This session will walk through what reporting is required and why. First, we’ll dive into Schedule R and understand how to figure out what constitutes a related organization. We’ll walk through how Schedule R reporting impacts the rest of the Form 990, including Part VII / Schedule J, the volunteer exception, and touch on related party reporting of excess compensation. We will also take a look at the 4 sections of Schedule L, including obvious and sneaky excess benefit transactions, loans, when and how to report scholarships, and other transactions with insiders.


Ask the Experts: Calling all Tax Nerds!

June 9 | 2:20 pm – 3:10 PM

Richard J. Locastro, CPA, JD, Edward Priem, CPA (CFO at Junior Achievement USA), Jeffrey Frank, CPA (Managing Director at Deloitte Tax LLP) & Meghan Biss, JD (Caplin & Drysdale)

Come to this session to ask all of the tax questions you have gathered throughout the conference and to hear from our tax experts!

Learning Objectives:

  • Understand the many complex tax issues that are impacting non-profit organizations and that have been explored throughout the conference
  • Evaluate how the tax issues discussed impact your organization and ask any questions you might have

Featured Speakers

Richard Locastro

Richard J. Locastro, CPA, J.D.

Partner and Director, Nonprofit Tax

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Melissa Musser, CPA, CIA, CITP, CISA

Partner and Director, Risk & Advisory Services

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