Certificate in Nonprofit Financial Management

February 21 - June 20, 2019

9:00 am – 4:30 pm   |   $1500
* Eligible for AmeriCorps education award funds and Hazlewood Act tuition exemption program

Overview

The Certificate in Nonprofit Financial Management is a comprehensive and systematic learning opportunity, covering the tools, frameworks and concepts necessary for effective nonprofit financial management.

Especially useful for:

  • Current financial management staff seeking further education or a refresher;
  • Aspiring professionals seeking competence and professional opportunities in this area;
  • Program staff seeking understanding of this critical organizational function;
  • Individuals looking to make a career change and wanting a comprehensive and systematic way to acquire the competencies needed to be an effective nonprofit financial manager;
  • Volunteer leaders seeking greater understanding of the financial management function.

This Certificate builds on the success of Center for Nonprofits’ other Certificates in Nonprofit Leadership & Management, Grant Writing, Volunteer Management, and Effective Fundraising, with their combined alumni of about 1000 individuals.  

The curricula is based upon conversations with nonprofit financial management practitioners and a review of professional literature.

Upon completion, participants will earn 4.9 Continuing Education Units (CEUs) from Austin Community College. These may be eligible for use in meeting professional certification requirements.

Session 1 - Review of Key Financial Concepts and Financial Statements

Introduction / Review of Key Financial Concepts & Financial Statements

  • Financial Management Responsibilities
  • Accounting terms and concepts
    • Differences between for-profits and non-profits
    • Cash versus accrual accounting
  • Non-Profit Accounting transactions in-class exercise
    • Non-Profit Financial Statements
    • Statement of Financial Position
    • Statement of Activities
    • Statement of Functional Expenses
    • Statement of Cash Flows
    • Introduction of Cash Flow budget as day-to-day alternative to Statement of Cash Flows
  • Financial Indicators – analysis and ratios
    • Liquidity Ratios
    • Solvency Ratios
    • Efficiency Ratios
    • Profitability Ratios

Facilitated by:

Russell Smith, Executive Director, Refugee Services of Texas

Russell A. Smith, LMSW, joined Refugee Services of Texas in July 2018 as CEO. Russell is a non-profit leader with over twenty-five years of experience running non-profit and governmental organizations in Houston and Austin, including five and a half years running a Head Start program in Houston that served over 1,100 children and their families. He has worked across the age spectrum, from early childhood to school reform to the Alzheimer’s Association. Most recently, Russell was the Executive Director of Austin Child Guidance Center for almost eight years. Russell holds a Master’s degree in Business from the University of Texas at Austin, as well as a Master’s degree in Social Work from the University of Houston. He inherited his passion for working in the public sector from his grandmother, Bert Kruger Smith, an Austin icon who was active in philanthropy for over fifty years. Russell has held many volunteer positions, from Runaway Hotline Volunteer to Management Consultant for the United Way to Chair of the Austin Local Advisory Board for First Book. He served on the board of the Austin Groups for the Elderly, the organization his grandmother started 30 years ago, and teaches classes at the Steve Hicks School of Social Work at the University of Texas on grant writing / fund development and on financial management for non-profits. With two Executive Director colleagues, he developed and teaches continuing education classes on a variety of non-profit leadership topics.

 

Session 2 - Governance Fiduciary Responsibilities

Governance Fiduciary Responsibilities

  • Understand the nuances of internal and external Stakeholders and how to navigate information to the beneficial interest of all parties.
  • Fiduciary responsibility of the Board
  • Establishing and maintaining financial transparency
  • Staff understanding the financial health of their program and what that means
  • “Overhead” costs and funding administrative expenses
  • Other fiduciary issues requiring the attention of governance

Facilitated by:

Holly Raymond, Senior Vice President of Finance, Upbring (The New LSS)

Holly Raymond is an Austin native that earned her bachelor’s and master’s in professional accountancy from the University of Texas at Austin in 2001. She has fifteen years of accounting experience in nonprofit strategy, finance and operations advisement and currently serves as the Senior Vice President of Finance at Upbring, a nonprofit organization working to break the cycle of child abuse. She most recently served as chief financial officer of Common Threads, a national nonprofit that teaches nutrition and cooking skills to children and families in under-served communities. Her work in shaping a strategic roadmap for the organization earned her a nomination for the Austin Business Journal’s CFO of the Year award in 2017 and enabled the organization’s broad expansion of child nutrition initiatives into new regions. Prior to joining Common Threads, Holly served as vice president of finance and operations for Big Brothers Big Sisters of Central Texas. She has also held leadership roles in the nonprofit advisory practice for Maxwell Locke & Ritter, LLP and Ernst & Young’s assurance and advisory business services. Holly is passionate about education, having served as an elected official in her hometown as a six-year Trustee for the Hays CISD School Board. She married to Jeff, a Director of Marketing and has three children; Madalyn, a freshman at Texas Tech; Beck, a freshman at Hays High; and Bristol, a seventh grader at Barton Middle School. Holly loves concerts, movies, college football, binge watching whatever Entertainment Weekly tells her to and is a great asset to any trivia team.

Jay Scheumack, CFRE, CPA, CFO, LifeWorks

Jesse E. Scheumack Jr (Jay), born and raised in Austin, TX later lived in Houston and then Midland Texas where he graduated Suma Cum Laude from the University of Texas Permian Basin with a Bachelor of Business Administration in Accountancy and Information Systems. Jay became a Certified Public Accountant in 1995 and a Certified Fraud Examiner in 2010. While living in Midland he was active in Community Theater and served on the Board of Directors for the Permian Basin Alzheimer’s Association. Jay returned to the Austin area in 1997 as Business Manager for a family owned Long Term Care facility before accepting the position of CFO at Lifeworks in early 2001. During his tenure LifeWorks grew from $7,000,000 to $15,000,000 in annual revenues. In 2008 Jay was selected as Best CFO of the Year in the small non-profit category by the Austin Business Journal. He served on the Board of Directors and as Finance Committee Chair for Austin Groups for the Elderly (now Age of Central Texas) and currently serves as council member for Capital Area Council of Governments, Area Agency on Aging Advisory Council, where he also served as Chair for two terms. Jay is a graduate of the 2012 Leadership Austin Essentials class and the 2009 Seton Cove Leadership Pilgrimage. In addition, he volunteers as a tax preparer for Foundation Communities. Jay retired as CFO of LifeWorks in late 2018 but continues to serve in an advisory capacity. He and his wife Karen, married for 45 years, live in Round Rock where he enjoys fly fishing and kayaking on the local waters.

Session 3 - Accounting and Reporting Guidelines

Accounting and Reporting Guidelines

  • Overview of Rule Making Entities
  • Overview of Recent and Upcoming Key Accounting and Reporting Standards
  • Guidelines for different types of nonprofits:
  • Future Trends in Nonprofit Accountability

Facilitated by:

Shannon Andre, Vice President of Austin Market, Brown, Graham & Company

Shannon M. Andre’, CPA, CFE, MBA is a shareholder with Brown, Graham & Company, P.C. in its Austin, Texas office. After growing up in Lubbock, Texas, Shannon graduated from Texas Tech University with a B.A. in Spanish. She then served in the U.S. Air Force as an imagery intelligence and collection requirements officer for over 7 years. After leaving the Air Force in 1992, she earned a Master’s Degree in Business Administration from Angelo State University. While living in England, Shannon got involved as a volunteer with the American Red Cross first serving as the RAF Alconbury fundraising chairperson and then as station chair from 1998 – 2000. Shannon joined Brown, Graham & Company, P.C. in June 2001. Shannon is a certified public accountant since February 2002 and a certified fraud examiner since December 2009. Shannon manages audit and other attest engagements from start to finish for nonprofit organizations and nonpublic commercial entities. Not one to stay at her office, she loves that there is always something new and fresh going on in each client – making each engagement different and challenging. Shannon also provides forensic accounting services and other accounting consulting services as well as overseeing all nonprofit tax preparation services for the Austin location of Brown, Graham & Company. Her nonprofit clients include membership associations, social clubs and charitable organizations with such diverse programs as affordable housing, public radio broadcasting and services for victims of child abuse, family violence and sexual assault. Shannon is known as their go-to person when it comes to nonprofit accounting, reporting and tax issues. She is also passionate about educating the public about preventing and detecting fraud as it is such a significant threat to our community nonprofits, businesses, and churches. In this regard, Shannon has presented fraud educational programs at a variety of events within Williamson and Travis County since 2010. Since getting bitten by the “volunteer bug” in the American Red Cross in England, Shannon has been continuously active in one or more local nonprofit organizations since 2002. She has served as an officer or board member for Ride On Center for Kids (R.O.C.K.), Rotary Club of Round Rock – Sunrise, CASA of Williamson County, and Bikers Against Child Abuse – Sam Bass Chapter. On the weekends and vacation, Shannon can often be found riding her 2006 Harley Davidson Fat Boy motorcycle with her husband, reading or relishing time spent with her 4 semi-adult children.

Session 4 - Controlling the Nonprofit

Controlling the Nonprofit

  • Budgeting
  • Accounting Software
  • Internal Controls
  • Fraud Prevention
  • Independent Audits
  • Investments
  • Risk Management
    • Risk Management frameworks
    • Gift Acceptance Policy
    • By-laws, current and being used
    • Personnel and HR – overview of potential risk
    • Sarbanes Oxley Compliance for 990 – general overview

Facilitated by:

Gail Romney, Director of Finance, Ballet Austin

Gail Romney joined the staff of Ballet Austin in 1992 as development associate, became business manager in 1996, and is currently director of finance, where she manages and oversees all accounting, budget, audit, and HR functions. Ms. Romney has B.F.A. in dance from the University of Utah. After a short career performing in New York, Texas, and Mexico City, she developed expertise in the area of arts administration and has more than 30 years experience in the area of nonprofit management and finance. Before coming to Austin, she worked in concert management for the Houston Symphony and was controller for the Houston Grand Opera. Ms. Romney has been a moderator for various local organizations, served as a Peer Panelist for the City of Austin’s Cultural Arts Division, and has been a guest speaker in the Economics Department at the University of Texas. She was named Best CFO for a nonprofit organization by the Austin Business Journal in 2015. She has served in numerous volunteer positions with civic organizations, and spent 20 years as an active member of the Junior Leagues of Houston and Austin.

Holly Raymond, Senior Vice President of Finance, Upbring (The New LSS)

Holly Raymond is an Austin native that earned her bachelor’s and master’s in professional accountancy from the University of Texas at Austin in 2001. She has fifteen years of accounting experience in nonprofit strategy, finance and operations advisement and currently serves as the Senior Vice President of Finance at Upbring, a nonprofit organization working to break the cycle of child abuse. She most recently served as chief financial officer of Common Threads, a national nonprofit that teaches nutrition and cooking skills to children and families in under-served communities. Her work in shaping a strategic roadmap for the organization earned her a nomination for the Austin Business Journal’s CFO of the Year award in 2017 and enabled the organization’s broad expansion of child nutrition initiatives into new regions. Prior to joining Common Threads, Holly served as vice president of finance and operations for Big Brothers Big Sisters of Central Texas. She has also held leadership roles in the nonprofit advisory practice for Maxwell Locke & Ritter, LLP and Ernst & Young’s assurance and advisory business services. Holly is passionate about education, having served as an elected official in her hometown as a six-year Trustee for the Hays CISD School Board. She married to Jeff, a Director of Marketing and has three children; Madalyn, a freshman at Texas Tech; Beck, a freshman at Hays High; and Bristol, a seventh grader at Barton Middle School. Holly loves concerts, movies, college football, binge watching whatever Entertainment Weekly tells her to and is a great asset to any trivia team.

Session 5 - Audits

Audits

  • What is an audit and why do I need it?
  • Board of directors’ roles and responsibilities
  • RFP Process
  • Preparing for the Audit
  • What to expect during fieldwork from the auditor
  • Audit Standards and Terminology
  • Auditor Opinion Options
  • Types of management letters and other communications with governance
  • Red Flags for an auditor
  • Financial statements, notes, supplemental schedules within audit package
  • Board and Management Review of Audit
  • Politics of the Audit:
  • Myths and Special Issues in Auditing

Facilitated by:

Tracie Stookesberry, Vice President of Finance, YMCA of Austin

Tracie Stookesberry brings more than 20 years of financial management expertise to her role as Vice President of Finance with the YMCA of Austin. Since beginning her tenure at the Austin Y in December of 2015, Tracie has made rapid strides in streamlining the organization’s $28M budget, including centralizing collections, implementing new accounting software and improving company purchasing and credit card management. After beginning studies in her native state of California, Tracie moved to Texas in 2003 and completed her Bachelor of Science Degree at Saint Edwards University, graduating in 2008. Her passion and determination to help make a difference led her to the YMCA of Austin and continue to inspire her volunteer efforts at various YMCA events as well as with the Central Texas Food Bank. Outside of the office, Tracie enjoys hiking and spending time outdoors with her family. Her true passion is cooking and trying new recipes, especially ethnic foods. Married for 17 years, she is a proud mother to a son and daughter.

Shannon Andre, Vice President of Austin Market, Brown, Graham & Company

Shannon M. Andre’, CPA, CFE, MBA is a shareholder with Brown, Graham & Company, P.C. in its Austin, Texas office. After growing up in Lubbock, Texas, Shannon graduated from Texas Tech University with a B.A. in Spanish. She then served in the U.S. Air Force as an imagery intelligence and collection requirements officer for over 7 years. After leaving the Air Force in 1992, she earned a Master’s Degree in Business Administration from Angelo State University. While living in England, Shannon got involved as a volunteer with the American Red Cross first serving as the RAF Alconbury fundraising chairperson and then as station chair from 1998 – 2000. Shannon joined Brown, Graham & Company, P.C. in June 2001. Shannon is a certified public accountant since February 2002 and a certified fraud examiner since December 2009. Shannon manages audit and other attest engagements from start to finish for nonprofit organizations and nonpublic commercial entities. Not one to stay at her office, she loves that there is always something new and fresh going on in each client – making each engagement different and challenging. Shannon also provides forensic accounting services and other accounting consulting services as well as overseeing all nonprofit tax preparation services for the Austin location of Brown, Graham & Company. Her nonprofit clients include membership associations, social clubs and charitable organizations with such diverse programs as affordable housing, public radio broadcasting and services for victims of child abuse, family violence and sexual assault. Shannon is known as their go-to person when it comes to nonprofit accounting, reporting and tax issues. She is also passionate about educating the public about preventing and detecting fraud as it is such a significant threat to our community nonprofits, businesses, and churches. In this regard, Shannon has presented fraud educational programs at a variety of events within Williamson and Travis County since 2010. Since getting bitten by the “volunteer bug” in the American Red Cross in England, Shannon has been continuously active in one or more local nonprofit organizations since 2002. She has served as an officer or board member for Ride On Center for Kids (R.O.C.K.), Rotary Club of Round Rock – Sunrise, CASA of Williamson County, and Bikers Against Child Abuse – Sam Bass Chapter. On the weekends and vacation, Shannon can often be found riding her 2006 Harley Davidson Fat Boy motorcycle with her husband, reading or relishing time spent with her 4 semi-adult children.

Session 6 - Issues Arising from Government Funding and Regulation

Issues Arising from Government Funding and Regulation

  • Managing Matching Requirements
  • Annual Information Return – Form 990
  • Payroll Taxes
  • Audits of Federally Funded Programs
  • Special Issues
    • Grant requirements which are more restrictive than all other grants received by the non-profit
    • Program specific issues related to compliance for service eligibility
    • Cost reimbursement grants (Cash Flow Issues)
    • Excise Tax – Reasonable Compensation for Nonprofit Executives
    • State Sales Tax Exemption (Issues)
    • Understanding specific grant requirement
      • Match requirement changes with each grant cycle

Facilitated by:

Don Klein, former CFO, Communities in Schools Central Texas

1. Over 40 years experience in several accounting fields 2. Experience in retail (13 years), government (10 years) and non-profit (18 years) 3. Certified Public Accountant 4. Hobbies include gardening and fishing

Session 7 - Accounting Issues Related to Fundraising and Overall Ethical Considerations

Accounting Issues Related to Fundraising and Overall Ethical Considerations

  • What are ethical issues affecting or guiding nonprofit financial management
  • Accounting issues related specifically to fundraising and entity’s tax exempt status
  • Unrelated Business Income
  • Stewardship
  • Other issues as may be identified by participants

Facilitated by:

MariBen Ramsey, MariBen Ramsey Nonprofit and Philanthropy Consulting

MariBen Ramsey is a native Austinite. She received both her BBA in Accounting and her law degree from the University of Texas. She was a shareholder of the law firm of Graves, Dougherty, Hearon & Moody before joining the Austin Community Foundation. She served as the foundation’s Chief Philanthropy Officer and General Counsel and was responsible for its grantmaking program. During her 20 year tenure, the Foundation grew from $10 million to $160 million in assets and distributed over $200 million in grants. MariBen has served on more than 25 boards of non-profit organizations at the local, state, national and international level. She brings not only her legal expertise to these organizations but also her abilities to problem solve, build partnerships and lead others to creative solutions. MariBen advises non-profit organizations in governance, board development, endowments, fund development, legal issues, planning and organizational strategies as well as philanthropic planning for individuals and families.