News & Events

2017 Accounting, Auditing and Tax Updates Webinar Slides Available

This webinar dives into accounting and tax developments from 2017 and their impact on the nonprofit affordable housing sector moving into 2018.
 
Presenters Dave Conway and Dan King explain significant accounting standards issued in 2017, the status of several FASB projects currently in process, and potential impacts of the Tax Cut and Jobs Act on nonprofit organizations, including:
• Definition of a business

• Going concern
• Revenue recognition of grants and contracts
• Proposed auditors’ report changes
• Other FASB projects
• Section 199A: the 20% deduction for qualified business income
• Section 163(j): the limitation on business interest

Presenters: Dave Conway, Partner, Novogradac & Company LLP; Dan King, Senior Manager, CohnReznick 

Learning Objective: To understand recent accounting and auditing guidance and its relevance to nonprofit affordable housing developers

 

Jan. 24, 2018 – Annual Accounting Updates Webinar

Join Strength Matters for our annual “must read” webinar for nonprofit affordable housing CFO’s, COOs and lenders outlining the significant accounting standards that changed in 2017.
 
Dave Conway of Novogradac will explain and discuss the status of several FASB projects currently in process and what to be planning for in the next year. 
 
Register here for the January 24, 2018 at 2PM (ET) webinar. 
 
 

Financial Discussion: Elimination of Developer Fees in Consolidation

The third paper in our Financial Discussion series dives into guidance on eliminating developer fees in consolidated financial reporting. 

Under current accounting guidelines, developer fees are eliminated when preparing consolidated financial statements. 

Financial Discussions papers Icon– How should the developer eliminate the profit realized on the developer fees?

– How should the developer determine the profit and does it matter if the developer fee is deferred?

– Should only the deferred fee be eliminated and not the fee paid from third party sourced debt and investor equity?

Read the new Financial Discussion paper on Eliminating Developer Fees in Cosolidation

 

Join Us Dec. 6 – Avoiding Tax Credit Mayhem Round 2: Protecting Your Depreciation Method – The 168(h) Election

Presenter, Dan King of CohnReznick, will discuss the recent Strength Matters publication Avoiding Tax-Exempt Use Property in Credit Deals – The IRC §168(h) Election.

Learning Objectives:

  • Understand how property characterized as tax-exempt use could negatively impact low-income housing tax credit or historic tax credit deals
  • Learn how tax-exempt general partners can use a “blocker” corporation to avoid the taint of a tax-exempt use property and understand the tax consequences
  • Learn about the elections required to use a “blocker” corporation to avoid the taint of the tax-exempt use property
  • Learn about the critical timing considerations for making the elections required to use a “blocker” corporation

Join us on Wednesday, December 6, 2017 2:00-3:00 PM Eastern Time. Register in advance for this webinar here:   https://zoom.us/webinar/register/WN_e0MzHnAhSY2Fc3v1atOyyw

New Webinar – Nov. 15 – Tax Paper #2 Partnership Allocations for LIHTC Deals – An Introduction to IRC §704(b)

Presenter, Dan King of CohnReznick, will discuss the recent Strength Matters publication Partnership Allocations for Low-Income Housing Tax Credit Deals – An Introduction to IRC §704(b). 

Join us on Wednesday, November 15, 2017 2:00-3:00 PM Eastern Time. Register in advance for this webinar here:   https://zoom.us/webinar/register/WN_e0MzHnAhSY2Fc3v1atOyyw

 

 

New Publication: Real Estate Sales between Related Entities

The second paper in our Financial Discussion series looks at two questions around the sale of real estate between related entities: 

Financial Discussions papers Icon

  • Accounting by Buyer and Seller Upon Disposition/Acquisition of a Property

  • Revenue Recognition for Excess Cash Paid by the Buyer to the Seller Upon Sale

Covering GAAP analysis of the questions, CPA recommendations and CFO response 

Read the new Financial Discussion paper

December Boot Camp in Washington DC

The next Strength Matters Boot Camp will be in Washington DC as part of NeighWorks Training Institute, between December 11-12, 2017. 

Register Now

 Email info@strengthmatters.com with questions. 


Strength Matters Boot Camp is designed to provide an overview of the accounting and financial reporting issues faced by a nonprofit housing enterprise. Accounting professionals working in this field require industry-specific information. The course also offers CPE credit. Examples of topics covered in this course:

  • The accounting differences unique to each entity type, such as limited partnerships.
  • Funding sources unique to the industry, such as HUD, Low Income Housing Tax Credits and other programs. Funding requests from these and commercial sources are examined both in lecture format and through case study.
  • Project surplus cash calculations and the loan and regulatory agreements to be considered.
  • Using materials published by Strength Matters, participants also focus on financial reporting issues that arise throughout the life cycle of an affordable housing property, from predevelopment through year-15 buyouts and beyond.

September Boot Camp in Oakland, CA

The next Strength Matters Boot Camp will be in Oakland, California, on September 28-29, 2017. 

Register Now

 Email info@strengthmatters.com with questions. 


Strength Matters Boot Camp is designed to provide an overview of the accounting and financial reporting issues faced by a nonprofit housing enterprise. Accounting professionals working in this field require industry-specific information. The course also offers CPE credit. Examples of topics covered in this course:

  • The accounting differences unique to each entity type, such as limited partnerships.
  • Funding sources unique to the industry, such as HUD, Low Income Housing Tax Credits and other programs. Funding requests from these and commercial sources are examined both in lecture format and through case study.
  • Project surplus cash calculations and the loan and regulatory agreements to be considered.
  • Using materials published by Strength Matters, participants also focus on financial reporting issues that arise throughout the life cycle of an affordable housing property, from predevelopment through year-15 buyouts and beyond.