2024 year in review: Not-for-profit and higher education update

2024 was a transformative year for the not-for-profit (NFP) and higher education industries. From evolving regulatory requirements and presidential election impacts to technological disruptions and workforce challenges, NFP organizations, including colleges and universities, face numerous issues and opportunities that will continue to impact them in 2025.

This on-demand webinar discusses key changes and events from the past year and how to navigate the future of this unique industry landscape. Our NFP and higher education sector-specialized team reflect on important accounting and tax issues and guide you through effective strategies on myriad financial and operational topics imperative to growth, sustainability and success.

Key takeaways

• Gain perspectives from recent Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee (NAC) meetings on accounting standards, select FASB projects and financial reporting implications of NFP industry trends and observations
• Understand the broad challenges and opportunities experienced during current expected credit losses (CECL) adoption
• Navigate situations and events that may require reassessment of audit procedures for the allowance for credit losses
• Understand both management's and the auditors’ responsibility relating to ASC 205-40, Going Concern
• Explore recent challenges with going concern assessments in the current economic environment
• Recognize where the Employee Retention Credit (ERC) stands and the latest guidance from IRS audits and evaluate if your organization should payback ERC funds or still apply for 2021
• Assess new and current tax regulations, their potential impact on your NFP and how to develop strategies to prepare your organization effectively for 2025

Presenters and industry specialists