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Webinar: Non-Profit Endowments and FAS 117-1 Compliance Challenges: Making Tough Decisions on Asset Classification and Disclosures

September 16, 2010

September 16, 2010

FASB's final version of Staff Position 117-1 (ASC 958-205) altered the landscape of financial statement preparation for non-profit organizations that rely on endowments. The complex asset classification and disclosure requirements continue to vex non-profits and their advisors.

Nearly all states have adopted the Uniform Prudent Management of Institutional Funds Act (UPMIFA), and non-profits in those states must be prepared to revamp donor-restricted endowment asset classifications. Mistakes, such as treating reports as though UPMIFA has not been adopted, are dangerous.

Accounting pros preparing non-profit organization financial statements must continue to immerse themselves in FASB's expectations and should advise clients with significant endowments within UPMIFA's scope to change their asset classification and reporting procedures.

Listen as our seasoned panel of non-profit accounting professionals reviews key terms of FAS 117-1 (ASC 958-205) and explores lessons learned in dealing with its demands so far.

Strafford is assembling a panel of distinguished professionals and key regulators to give you the tools needed to help non-profits and their accounting advisors adapt to FSP 117-1 challenges. Barry C. Hawkins, Partner, Chair, UPMIFA Drafting Committee, and another speaker will present their expert opinions in a 110 minute LIVE webinar.

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