GASB Proposed Changes to Pension Reporting
Date: Thursday, February 2, 2012
Presenters: Chris Telli & Melissa Tuttle, BKD, LLP
Archived Webinars
- GASB Proposes Significant Changes for Pension Plan Accounting & Calculation
- No More Identification of Split-Interest Trusts on IRS Form 990
- Alert – Filing Extension May Be Available for Exempt Organization Returns
- Reporting Requirements Under FFATA
- IRS to Survey Exempt Organizations Regarding 2010 Compliance Burden
- Government Financial Troubles & Assistance
- A Tax Perspective on Alternative Investments
- A Refresher on Recording & Reporting Alternative Investments
- IRS Releases 2011 Form W-3, Transmittal of Wage and Tax Statements
- Alert – Contemporaneous Substantiation Issues Cost Taxpayer a Deduction
The IRS has significantly increased its enforcement activities, including examinations and penalty assessments. BKD provides a wide variety of tax compliance and consulting services that will help foundations manage their risks and enhance opportunities such as:
- Perform diagnostic reviews in various areas, including intermediate sanctions, unrelated business income tax, retirement plans, executive compensation and self-dealing
- Monitor public support requirements during advance ruling period and recommend changes in status
- Preparation and/or review of tax returns, including training and other assistance
Looking to use technology to gain operational efficiency or facilitate a board retreat? BKD has ideas to help:
- Develop budgets and cash-flow projections
- Measure the true cost of programs
- Build a case for rate adjustments
- Provide board development tools and resources
- Design performance management systems and compensation and benefit programs
- Measure outcomes to build accountability
- Implement process improvements
Like any company, not-for-profit and government entities experience the ebbs and flows of the business cycle. Risk management, new programs to manage, the loss of a key staff member or a budget cut can quickly put undue pressure on your personnel. Experience how BKD professionals can help you:
- Generate periodic financial reports
- Fill gap left by departed financial officer
- Monitor subrecipient/grantee compliance with financial or program requirements
- Improve financial aid or development programs
- Prepare trust tax returns
- Perform internal audits
The right technology solution can help simplify the oft-complicated financial management and customer relationship processes employed by not-for-profit and governmental entities. BKD Technologies offers market-leading software solutions and implementation as well as training and support assistance to help streamline essential functions of your organization, including:
- Budgeting
- Allocation
- Reporting and tracking
- Compliance
- Audit preparation
- Security
- Human resources
- Donor management
Not-for-profits must continually look for growth strategies to deliver services and achieve their mission. You can benefit from strategies that increase your donor base, enhance investment returns and diversify funding sources.
Governments can benefit from growth strategies that take advantage of rate adjustments, charge appropriate fees for services and consider privatization options and partnerships to deliver and expand services. Let BKD help you:
- Think and plan strategically
- Establish performance-based contracts with service providers
- Investigate privatization options
- Structure bond offerings and comply with regulations
- Perform feasibility studies and due diligence
- Evaluate merger and acquisition opportunities
- Develop planned-giving programs
- Explore alternative revenue sources
- Develop gift acceptance policies
Today’s companies realize the necessity of managing business risk. Whether you need compliance assistance or have a desire to improve the corporate governance and data security of your organization, the BKD IT Risk Services team is here to assist you. Our experienced, certified consultants can help identify and manage your risk with best practices and knowledge of industry-specific regulations. Learn More
Taxpayers, donors and customers trust you to be a responsible steward of their taxes and gifts, and they expect you to operate in a responsible manner. Experience how our financial assurance and compliance solutions can help you:
- Understand and implement new accounting standards
- Establish financial controls and reporting systems
- Comply with Office of Management and Budget Circulars
- Earn a Certificate of Achievement for Excellence in Financial Reporting
- Form for-profit subsidiaries
- Apply for and maintain tax-exempt status
- Avoid intermediate sanctions or private inurements
- Resolve multistate tax issues
- Address unrelated business income issues
- Comply with arbitrage provisions
Debra Ladyman
Cindy Boyle
Joyce Dulworth
Kevin Kemp
Roger Watton
Wallace Wetherill
- Colorado Nonprofit Association
- Butler University
- University of Oklahoma Foundation
- National FFA Organization
- David C. Cook
- Metropolitan Airports Commission
- City and County of Denver
- Heartland Consumers Power District
“BKD was instrumental in guiding us with their expert tax guidance and a new accounting methodology for our subsidiary. The result was lowering of the tax liability for both organizations and a streamlined, enhanced accounting approach for our subsidiary.
BKD has in-depth experience with non-profits and especially with organizations that may have a for-profit entity as part of their overall company structure. They have a strong expertise in the tax and IT areas, performed soundly with due diligence, and showed solid work ethics.
As our association has grown, so have the complexities of our business. BKD has been very helpful with answers to questions regarding grants and operations, helping us to demonstrate transparency and best practices as we deliver high-level services to the non-profit sector throughout the state of Colorado.”
— Jeannie Nims, Chief Financial Officer
Colorado Nonprofit Association
Denver, Colorado
I knew BKD had a focus in organizations like us and felt that we could benefit from their industry experience and technical knowledge. Having an audit can be a necessary evil. If that’s all you get, you’re not getting much value. A lot of firms can do an audit, but BKD brings value.
— Bruce Arick, Vice President
Butler University
Indianapolis, Indiana
…We have been totally pleased with BKD's performance and professionalism. The have done a wonderful job of staffing our engagement with highly skilled and thoroughly accurate professionals. They take a very critical approach to their review, ensuring our financials are accurate and in accordance with accounting principals. I am very happy to recommend BKD as a highly professional and very thorough auditing and tax firm.
— Ron Winkler, Vice President & Treasurer
University of Oklahoma Foundation
Norman, Oklahoma
We are very pleased with the dialogue we engage in during audit committee meetings as well as the detail of the audit and audit recommendations. BKD’s team promptly responds to our questions during the annual audit as well as between audits. Their knowledge of not-for-profits has been very helpful over the years, especially when we wrestle with issues that could have an impact on our tax-exempt status.
— Dr. Larry D. Case, CEO
National FFA Organization
Indianapolis, Indiana
BKD is a trusted firm that not only advises Cook on issues we raise, but proactively advises us on changes in the financial environment.
— Scott Miller, Senior Vice
President of Finance
David C. Cook
Colorado Springs, Colorado
I have been pleased with BKD’s detailed approach as it relates to our external audit function. BKD validated a number of concerns of our department and agreed such concerns need to be addressed.
The engagement team brings airport industry expertise, and we have benefited from their knowledge and experience. The team is responsive and candid with MAC management, bringing a fresh perspective with their substantive approach to the audit. BKD’s timely consultations and management letter will help MAC’s leadership and board enhance controls and provide an accurate and credible report to the public.
— Michael Willis, Assistant Director - Internal Audit
Minneapolis Saint Paul Metropolitan Airports Commission
Minneapolis, Minnesota
BKD's personnel from staff to partner that I've worked with are very professional and consider the operations and timelines of the agency personnel in their planning. They are willing to discuss issues and accounting treatments in an open method while ensuring that the standards are met. The comments and recommendations are helpful and have assisted the city in making improvements.
— Beth Machann, City Controller
City and County of Denver
Denver, Colorado
Heartland hired BKD, LLP after using a Big Four firm for many years. Heartland has experienced BKD’s commitment to excellence first hand and our Board of Directors and staff are glad we transitioned to BKD. BKD’s personnel have brought a level of utility experience, integrity, and professional demeanor at standards we did not experience before. BKD responds to our questions in a timely manner and openly discusses accounting treatments to ensure the best course of action is taken and accounting standards met. Heartland looks forward to a continued successful relationship with BKD and highly recommends them to anyone in the utility industry.
— Mike Malone, Financial Operations Manager
Heartland Consumers Power District
Madison, South Dakota


























