Nonprofit Section Meeting: Unwrapping the Gifts-In-Kind Package

Overview

We will be diving into the most common scenarios of gifts-in-kinds for nonprofits. Based on these scenarios, we will dive into revenue recognition, valuation techniques, and various disclosure requirements.

The session will be hybrid and start with networking and breakfast for those in person from 8-8:30am and the session will run from 8:30-9:30am.

Prerequisites

None

Objectives

Attendees will learn to identify which noncash assets can qualify as gifts-in-kind to recognize. From there, attendees will learn how to value these gift-in-kind contributions and how to comply with the disclosure requirements.

Preparation

None

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader Bios

Alex Shin, Manager, CliftonLarsonAllen

Alex is a manager in CLA’s nonprofit assurance practice, bringing several years of public accounting experience to the nonprofit sector. Alex specializes in providing audit, tax, and business advisory services to a diverse range of associations, foundations, and other exempt organizations. With extensive knowledge of business operations and financial statements within the nonprofit industry, Alex is well-equipped to address the unique challenges faced by these organizations.

In the role of engagement manager, Alex oversees all phases of audit work, including the supervision of associates, planning, fieldwork, and financial reporting for numerous high-profile organizations. Alex frequently consults with clients on emerging accounting principles and audit standards and is responsible for developing written communications for governance. Additionally, Alex is a prolific writer and speaker, contributing regularly to nonprofit accounting blogs and leading learning sessions.

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Yahya Syed, Manager, CliftonLarsonAllen

Yahya is an engagement manager in CLA’s nonprofit assurance practice. Yahya has several years of public accounting experience; specializing in nonprofits. Over the years, Yahya has developed a specialized skillset in audit, tax, and business advisory services, working with variety of nonprofits in the DC region. As an engagement manager, Yahya manages all aspects of the audit engagement from audit planning and risk assessment to financial reporting for nonprofits of all sizes. Yahya stays updated on latest accounting standards and provides guidance to clients, ensuring they remain compliant and well informed.