M. Board Financial Due Diligence: Expectations and the 990 Story

Learn best practices to enable board members to understand their responsibility for Form 990 oversight, for performing due diligence, and for meeting IRS requirements. We will review the Form and discuss establishing policies. Donors/funders use Form 990 to evaluate whether organizations will use donations wisely. So we will share tips for using it to tell the right story.

Jack H. Fein, CPA, CGFM,CGMA, PSA/Principal, The Mercadien Group
Jack Fein has been an instrumental member of Mercadien, P.C., Certified Public Accountants, for more than four decades. Serving as a principal, he works with more than 85 nonprofit organizations. He was involved in proposing and drafting revisions to the Charity Registration Act that governs all nonprofit organizations in the state.

Jack holds many certifications in the field of accountancy and is licensed in New Jersey and Pennsylvania. In April 2014 he received the Lifetime Achievement Award from the Pennsylvania Institute of Certified Public Accountants.

Jack has published numerous articles in national publications and professional journals. He publishes and edits Nonprofit Examiner, the firm’s newsletter distributed throughout North America. He has taught professional-level courses at The College of New Jersey and Mercer County Community College. He was also one of the lead curriculum designers of the highly acclaimed Nonprofit Management Program co-sponsored with the College of New Jersey.

Jack serves as treasurer on one nonprofit board and is on the advisory board of Rutgers University’s Masters in Accountancy (MACCY) in Governmental Accounting program.

A resident of Bucks County, he is a founding member of Shir Ami Bucks County Jewish Congregation, where he served in leadership roles for over ten years.

Lovepreet Buttar, CPA, MBA, CGMA, Manager, The Mercadien Group
Lovepreet Buttar is a manager at Mercadien, P.C., Certified Public Accountants, and a member of the firm’s Nonprofit Services Group. She is responsible for planning and overseeing various nonprofit engagements including associations, schools, and health and human services organizations.

Lovepreet’s experience includes both financial statement and compliance audits along with review and compilation engagements. Her specializations include reporting, disclosures, and compliance issues of entities subject to Single Audit, and state and local reporting requirements. She is also proficient in the tax exemption determination process and maintenance of exemption for both 501(c)(3) and 501(c)(6) entities. As part of the firm’s Nonprofit Services Group, she is highly regarded in the areas of internal control structures, audit program design, and implementation. She has led various internal training programs with regard to the nonprofit industry, accounting developments, and tax return preparations.

Lovepreet serves as treasurer on one nonprofit board and is on the finance committee for the Princeton Area Community Foundation.

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