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Functional Expenses for Non-Profit Organizations

FUNCTIONAL EXPENSES FOR NON-PROFIT ORGANIZATIONS

Cost Free
Presentation Length 1.5 hours

Recorded DateFebruary 26, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAccounting
Course LevelBasic
Course Description

Learn about Functional expenses allocations and reporting.  Discuss various methodologies and understanding the interpretation of the accounting standards to apply to your entity.  Learn about what your auditors are or should be looking for.  Understand the percentage benchmarks from watchdog agencies.  An integral piece of the new nonprofit ASU, 2016-14, is the requirement for all nonprofits to present a statement of functional expenses. Join us to find out about how this can be done efficiently and effectively. Topics covered will include common methods of allocation and practical expedients in the industry.

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Neely Duncan, CPA, CFE

Forvis Mazars
Partner / National Nonprofit Advisory Services Leader
[email protected]
(972) 702-8262

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A member of FORVIS National Nonprofit Advisory Services Practice and Center of Excellence. Neely has more than 20 years of audit and advisory experience in public accounting. Her expertise includes financial statement audits, Single Audits, grants management, assessments and compliance, outsourced accounting functions, standards implementation, internal audit procedures, strategic planning, and tax-exempt matters for a wide range of nonprofit entities. Neely also performs forensic work related to various cases for technical matters for nonprofits.

In addition to handling the accounting, consulting, and audit needs of her clients, she advises clients on operational efficiencies, internal controls, and governance issues and routinely shares best practices with clients gained from working with a variety of organizations. She is a highly sought national speaker on technical matters in the accounting community. Neely also served in the United States Navy for four years. 

Neely is a member of the American Institute of CPAs, Texas Society of Certified Public Accountants, where she serves as a board member, TXCPA -Dallas, where she serves as a board member and the Association of Certified Fraud Examiners, Inc. She holds the Certified Fraud Examiner (CFE) designation.

She has been involved with many other professional associations, including Dallas Social Venture Partners, Finance Chair, Arthritis Foundation, Dallas Heroes Project, and Great Girls Network. 

Neely is a 2000 magna cum laude graduate of Old Dominion University, Norfolk, Virginia, with a bachelor’s degree in accounting.

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Nikki is a member of the Nonprofit Practice, the Higher Education Practice, the Public Sector Practice, and the Commercial Products Practice. She leads FORVIS Nashville’s audit and advisory departments and has more than 17 years of accounting and auditing experience. In addition to working with higher education institutions and nonprofit and public sector organizations, she manages the audit process for manufacturers, professional services companies, technology companies, and contractors. 

She serves as an engagement executive on numerous private equity and family-owned companies ranging in size from those with $10 million in revenue to large, consolidated groups with revenues of more than $100 million, including clients with international operations. 
Nikki provides a variety of audit, consulting, and advisory services to commercial entities and nonprofit organizations, including financial reporting, implementation of new accounting standards, audit preparation, and budgeting, as well as evaluation and assessment of internal controls, policies, and procedures. Before entering public accounting, Nikki was a business manager with a major public university for three years.

She is a member of the American Institute of CPAs and TSCPA. She is licensed as a CPA in Tennessee, Colorado, and Indiana.
Nikki has served on numerous nonprofit boards and is involved in the Nashville LGBT Chamber and the Nashville Area Chamber of Commerce.

She is a 2002 graduate of Purdue University, West Lafayette, Indiana, with a B.S. degree in accounting.

About Our Presenter

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Forvis Mazars, LLP is an independent member of Forvis Mazars Global, a leading global professional services network. Ranked among the largest public accounting firms in the United States, the firm’s 7,000 dedicated team members provide an Unmatched Client Experience through the delivery of assurance, tax, and consulting services for clients in all 50 states and internationally through the global network.