The Not-for-Profit Summit, hosted by SC&H Group and SunTrust, partners not for-profits with the region’s leading experts to provide insights for overcoming today’s biggest obstacles.
Financial leaders and chief executives of not-for-profits throughout the Mid-Atlantic gathered in the nation’s capital to discuss the evolving not-for-profit industry. Today’s non-profit organizations are consistently looking for new ways to develop long term strategies, enhance digital engagement with donors, maintain cybersecurity, and navigate the risk environment. Even more hurdles lay ahead after the release of the White House’s proposed tax plan, which could bring about sweeping changes for not-for-profit organizations.
To help not-for-profits prepare for 2018, the summit focused on important topics such as donor relations, accounting and tax, legislative changes, and the current economic outlook for not-for-profits. Key sessions of the summit included insight and stories from Mary Tod Winchester, VP of Administration/Operations of the Chesapeake Bay Foundation, a thorough discussion of the potential implications of the 2017 Tax Reform presented by SC&H Tax Principal Lori Burghauser, and a behind the scenes look at the turmoil in the House and Senate from Lobbyist Mark Oesterle. For a full list of speakers and topics visit: https://www.schgroup.com/
Closing out its seventh year, the popular Not-for-Profit Summit, hosted by SC&H Group in partnership with SunTrust, was held at the Grand Hyatt in Washington D.C. The Summit provides a platform for non-profits to learn innovative practices, collaborate among peers, and keep them on the path to operational success and efficiency.
“Not-for-profits need to adopt digital communications in order to reach younger donors, implement cybersecurity best practices to safeguard personal identification and other sensitive data, and monitor tax and other regulatory changes that could significantly impact their operations,” said Mike Young, Director of SC&H Group’s Tax and Audit Advisory practice.
“Our long standing partnership and collaboration with SunTrust has allowed us to expand our Not-For-Profit Summit from strictly focusing on accounting, banking and tax related topics,” said Young. “We share a common goal with SunTrust– to provide the attendees with information that is critical to their continued success.”
The tax discussion led by Lori Burghauser covered details about the House version of the proposed tax legislation – “Tax Cuts and Jobs Act” – sharing, “As we are sitting here today, the Senate has just released its version,” noting the current uncertainty of the reform. She posed the question to the group, “Could this be the year that the tax code is revamped?” Lori noted that the latest major revisions were in 1986 and 1954.
Mary Tod Winchester, VP of Administration/Operations of the Chesapeake Bay Foundation, discussed the importance of staying organized while balancing many components of operating a not-for-profit. “The need to stay laser focused is so vital, now more than ever,” Winchester said. “Focus on the end goals whether associated with organizational growth, strategic planning, or evaluating risks.”
Additionally she touched on a very important aspect of running an organization saying, “At the end of the day – a not-for-profit is a business, requiring the proper digital engagement solutions, a strategic plan that encompasses input from employees at all levels with the support of a board, and regular assessments for risks allowing for practice if an organization experiences an incident. Gone are the days when a business can thoughtfully draft what gets published, having a plan, being aware of the potential implications, and maintaining laser focus are all important to nurturing trust and credibility today.”
About SC&H Group
SC&H Group is a nationally recognized management consulting, audit, and tax firm serving clients from rapidly growing private sector businesses to Fortune 500 companies with global brands. The firm’s strategic practices provide the leading-edge thinking and advice that transform our clients’ businesses and help them outpace the competition. We embrace the future and help clients prepare, innovate, and evolve their businesses in this complex and highly competitive world. For more than 25 years, SC&H Group has demonstrated its commitment to delivering powerful minds, passionate teams, and proven results on each and every engagement. Learn more at www.schgroup.com.
About SunTrust
SunTrust Banks, Inc. is a purpose-driven company dedicated to Lighting the Way to Financial Well-Being for the people, businesses, and communities it serves. Headquartered in Atlanta, SunTrust operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states, along with 24-hour digital access. Certain business lines serve consumer, commercial, corporate, and institutional clients nationally. As of December 31, 2016, SunTrust had total assets of $205 billion and total deposits of $160 billion. The company provides deposit, credit, trust, investment, mortgage, asset management, securities brokerage, and capital market services. SunTrust leads onUp, a national movement inspiring Americans to build financial confidence. Join the movement at onUp.com.
