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Seminar Teleconference: Barry Hawkins Presents on Non-Profit Endowments Mastering New Staff Position FAS 117-1

Preparing for Tougher FASB Standards on Asset Classification and Disclosure Requirements

May 28, 2009

May 28, 2009

This seminar will offer in-depth examination and analysis of FASB's new asset classification standards for non-profit endowments. The panel will offer their best practices for meeting the requirements in time for 2009 financial statements.  


FASB's final version of Staff Position 117-1 alters the landscape of financial statement preparation by any non-profit organization relying on endowments. FASB imposed many new and more complex asset classification and disclosure requirements effective for fiscal years ending after Dec. 15, 2008.

Non-profits in any of the 25 states that have adopted the Uniform Prudent Management of Institutional Funds Act (UPMIFA) must revamp donor-restricted endowment asset classifications. In other states, endowment assets are subject to new, detailed reporting requirements and investment policies.

Accounting pros preparing non-profit organization financial statements must become well-versed on FASB's new expectations. Clients with significant endowments both in and out of UPMIFA's scope will need to change their asset classification and reporting procedures.

Listen as our seasoned panel of non-profit accounting professionals reviews all key terms of the new FASB guidance and prepares you to help clients implement them on 2009 financial statements.


  1. Understanding UPMIFA’s impact on FASB’s guidance
    1. A brief history of the UPMIFA model law
    2. Discussion of UPMIFA adoption progress in key jurisdictions
  2. FASB’s interpretation of asset classification for donor-restricted endowments
    1. Classifying permanently restricted assets
    2. Historic-dollar-value vs. prudent investor standard
    3. Temporarily restricted net assets
  3. Disclosures now required in financial statements
    1. The governing board’s interpretation of the law that regulates net asset classification of donor-restricted funds
    2. Explanation of the non-profit’s spending policies
    3. Explanation of the non-profit’s investment policies
    4. Report on the composition of net assets
    5. Report reconciling balances at start and finish of period
    6. Benefits

The panel will give you the tools needed to help non-profits and their accounting advisors quickly adapt to FSP 117-1, including: 

  • Using the standards set out in the UPMIFA model to facilitate FASB compliance. 
  • Developing best practices for the new classification method for donor-restricted endowments. 
  • Meeting the new information disclosure requirements for both donor-restricted and board-restricted endowments. 
  • Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

For additional information CLICK HERE.

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