NICNE Summer Shorts: Restricted and Designated Funds
July 27, 2023 • 9:00 AM - 10:00 AM
NICNE CollabLab aat NIU Rockford
8500 East State Street
Rockford, IL 61108
US
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Northern Illinois Center for Nonprofit Excellence »
Overview: Join us for NICNE Summer Shorts! Participate in two key conversations with area nonprofit finance experts on critical topics that any nonprofit staff or board leader needs to know. Remaining topics include risk assessment, management of designated funds, financial policies, financial best practices, and selecting the right tools and resources for financial management. Full session details are outlined below.
Program Summary: It is important for board members, management, and staff to have a clear understanding of their obligations when accepting restricted donations. Donors have the legal right to restrict the donations they make to a nonprofit and organizations must also be accountable to funder requirements. This one-hour class led by Chris Quinn will cover the management and accounting of unrestricted, temporarily restricted, permanently restricted and designated funds. This class will also cover the impact of restricted and designated funds on the organization’s financial statements.
Instructor: Chris Quinn has an in-depth, working knowledge of nonprofit accounting, with over 25 years’ experience in accounting, budgeting and financial statement preparation and analysis for board presentations. Mr. Quinn has worked for several area organizations including Comprehensive Community Solutions, RAMP, Boys and Girls Club and the Epilepsy Foundation. He is currently semi-retired and is working part-time for Carpenter’s Place and serves on the Patriots’ Gateway Community Center’s Finance Committee.