Finance & Legal

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Who should attend:
CEO's ED's, CFO's, Accountants, Board Members representing finance or treasurer positions

Nonprofits, by nature, exist to serve the public good. They are obligated to display high levels of ethical behavior, accountability, transparency and compliance with the law. They also effectively manage the financial resources bestowed upon them and upon which they rely to accomplish their mission.

Donors are increasing their scrutiny of nonprofit entities and requiring more accountability in return for their dollars. And with more nonprofits vying for the dollars available, it has never been more critical to have your nonprofit in legal and financial order. This credential will cover these topics:

  • Ensure your organization meets its legal obligations and understand how to protect donor information, follow donor intent, and provide tax receipts to donors as applicable.
  • Understand how to create the necessary documentation to show sound financial practices and timely reporting.
  • Integrate best practices regarding technology and data collection/ retention in regards to personnel information.

In order to receive the Finance & Legal Achievement Badge, the organization must submit the following items to UNA to be reviewed:

Bylaws—Organization’s bylaws, including description of voting procedures, number of board members, terms of office, method of removal from office, how bylaws are revised, and description of officers and their duties.

Policies and Procedures—Policies and Procedures manual or similar compilation of organization’s policies, including code of conduct, whistleblower policy, non-discrimination policy, document retention and destruction policy, and conflict of interest policy.

Review—Document describing most recent review of bylaws, including who was involved in the review and when it occurred. Also include date of most recent review of policies and procedures and who was involved in its review.

Training—Proof of ongoing staff, board and volunteer training on policies and procedures; for example, a training calendar, sample of recent training, document outlining how policies and procedures trainings occur in the organization, sample volunteer orientation packet, sample staff handbook or similar proof.

Minutes—Document explaining your organization’s method of compiling a “Minutes” archive, including description of how minutes are taken and by whom, how they are stored, how amendments/revisions are noted and how the minutes are made accessible.

Code of Ethics—Dated, signed UNA Standards of Ethics or other code of ethics approved by board.

Finances—Document describing the organization’s financial record-keeping practices.

Financial Oversight—List of board members or other individual(s) who provide financial oversight to the organization. Note the dates of the past 3 most recent meetings.

Policies Governing Oversight—Charter, policies or governing document denoting the responsibilities and parameters of the financial oversight body or person(s).

Filings—Calendar or checklist of state and federal filings, which includes dates of most recently submissions and upcoming due dates.

Financial Planning/Goals—Proof that the board has concrete long- and short-term financial goals and methods of assessing progress towards those goals. Examples of this may include a financial strategic plan, a list of organizational financial priorities for income and expenses, a financial performance dashboard or similar proof.
Budget—Recent, dated sample of the organization’s working budget.

Donor Acknowledgement—Sample of organization’s donor acknowledgment letter.

Donations—Document your process for accepting and acknowledging monetary, in-kind and other forms of donations/gifts, including providing tax receipts.

Internal Controls—Document your process for protecting the organization from fraud, abuse and/or negligence. This may include reference to separation of duties, conflict of interest policy, check-signing policies, work of Executive Committee as oversight body and/or similar proof.

Financial Reports Verification—Document citing how the board independently verifies the accuracy of the financial reports it receives and ensures its financial mandates are carried out. Examples of this may include description of work by financial oversight committee or individual(s) appointed by the board, organizational audit, or similar proof.

NOTE: The documentation on the requirements requesting explanation need not be lengthy. Clear, concise statements on how the organization meets the requirement listed are sufficient. In most cases, three or four lines of description should suffice.

Presenters: Kelly Bryson, Brent Andrewsen, and Michael Durham

 

Sponsored by American Express & Morgan Stanley Bank:

AmEx logo

Morgan Stanley BankNA logo

 

Facilitators: Kelly Bryson, Brent Andrewsen, and Michael Durham

 Kelly Bryson Headshot

Mr. Bryson is a partner at Eide Bailly and has more than 13 years public accounting experience, providing audit services to clients in various industries, specializing in affordable housing and nonprofits. He has experience in the affordable housing industry relating to audits of multi-family HUD, rural development, new markets tax credits and low income housing tax credit projects. Provides cost certifications for low income housing tax credits and multi-family HUD projects. Annually attends continuing education courses that are specific to audits of low income housing tax credit projects and HUD multi-family projects. Participates annually in continuing education courses specific to non-profit organizations including this year's AICPA Not-For-Profit conference in Washington, D.C. Firm liaison to the Utah Nonprofits Association.

Michael Michelsen

Michael has than 20 years public accounting experience providing services to a variety of industries, including governmental entities, nonprofit organizations, health care organizations and privately-held companies.During his career, Michael has gained experience performing A-133 audits (Single Audits) for some of the largest governments in Utah.Michael has presented on topic related to accounting and auditing for governmental entities for the Utah Association of CPAs.His involvement in industry associations related to is practice areas ensures he is current on any industry changes.

Brent Andrewsen photo

Mr. Andrewsen is a member of Kirton McConkie's Business and Tax & Estate Planning sections. His practice includes estate planning, probate and trust administration, gift taxation, tax-exempt organizations, charitable trusts and planned giving. Mr. Andrewsen also has advised clients with respect to business matters and has assisted in forming various business entities and transactions. He is a frequent speaker on issues regarding tax-exempt organizations, planned giving, estate planning, and related topics. In addition to his professional work, he has sat on the boards of various charitable organizations over the years. Mr. Andrewsen is recognized as one of Utah's Legal Elite and a Mountain States Super Lawyer for non-profit and estate planning as well as a Best Lawyer for trusts and estates.

Michael D. photo

 

Mr. Durham is a member of the firm's Tax and Estate Planning section. He has advised some of the nation's largest private foundations, museums, hospitals, high-technology nonprofits, newly formed organizations and donors wishing to structure their gifts to maximize tax savings.
Mr. Durham has considerable experience in the rules governing private foundations, private operating foundations, supporting organizations and donor-advised funds, as well as tax-exempt bond issues and unrelated business activities of exempt organizations.
In addition, Mr. Durham has represented large charities before the IRS on audit, seeking initial recognition of exempt status, and in specific ruling requests. He has also represented clients before Treasury and Congress with regard to new or pending law and regulations.