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Legacy News  

 

We are looking forward to attending Association Forum’s Holiday Showcase again this year on December 14 at the Hyatt Regency Chicago. Please stop by Booth #644 to say hello to Partner Rose Doherty and Marketing Director Julie Tucek.

 

The Illinois CPA Society's (ICPAS) Not-for-Profit Committee sponsors a series of Roundtables to provide opportunities for financial professionals who are involved with nonprofit organizations, both on the public accounting and organization side, to network, learn and share information. Rose Doherty is the chairperson of the Not-for-Profit Roundtable Subcommittee. The next Roundtables are scheduled for January 27, 2011 (topic: Tax and Regulatory Compliance Filing) and March 10, 2011 (topic: TBD). The programs run from 8:30 a.m. to 10:30 a.m. at the ICPAS office at 550 West Jackson Blvd., Suite 900 in Chicago and are free of charge. To register call ICPAS at 800-993-0393.

 

In an ongoing effort to stay informed, several members of our Nonprofit Group attended the ICPAS Not-For-Profit Conference which was held in Chicago on November 16-17, 2010. Topics included a Not-For-Profit Accounting & Auditing Update, Internal Controls for Small Organizations, the New Form 990, Making Sense of Form 5500, and Mergers, Alliances and Joint Ventures.

 

In our Summer 2010 issue, we covered the Red Flags Rule. As a reminder, the delay is set to expire on December 31, 2010. Visit www.ftc.gov (and search “Red Flags Rule”) for updates on further delays or notice of enforcement. Back issues of Legacy Advisor are posted on our website.

 

In addition to our large nonprofit practice, we also audit employee benefit plans, including 401(k) and 403(b) plans, labor organizations, villages, municipalities, school districts, commercial entities, and other types of organizations. Contact Julie Tucek at 312-384-4292 or jtucek@legacycpas.com to discuss any opportunities.