SOURCE: Accounting Management Solutions

AMS-UPMIFA

March 08, 2010 08:00 ET

Accounting Management Solutions Offers Nonprofits Easy Access to UPMIFA Expertise

WALTHAM, MA--(Marketwire - March 8, 2010) - Accounting Management Solutions, Inc. (AMS), a leading provider of outsourced accounting, financial management, and consulting services for private, public, and nonprofit organizations, today announced that the company is offering a variety of expert support options for nonprofit organizations and CPAs who need help dealing with the Uniform Prudent Management of Institutional Funds Act (UPMIFA). 

UPMIFA provides important guidance to nonprofit directors and their boards with regard to managing an organization's endowments. UPMIFA:

  1. Modernizes the rules governing endowment fund expenditures, providing better guidance on spending
  2. Gives organizations the ability to better manage fluctuations in the value of their endowments
  3. Governs the release and modification of restrictions on charitable funds to permit more efficient management of these funds

Free Resources Include White Paper and Webinars

AMS is offering a free download of the white paper "Talking to Your Board about UPMIFA." This white paper, written by AMS regional director Rebeka Mazzone, CPA, details what nonprofit executives need to know about the general requirements of UPMIFA. The resource also helps directors prepare their board members for their role in determining a prudent course of action with regard to their organization's endowments.

"The word 'uniform' in the title of the Act is an oxymoron," stated Mazzone. "Of the states who have already adopted UPMIFA, there are many variations and material differences, including a presumption of imprudence regarding spending limits under a specific set of circumstances."

Mazzone is a leading speaker on UPMIFA and was recently a featured speaker on the topic at the annual Massachusetts Society of CPAs Nonprofit Conference. In 2009, Mazzone spoke on UPMIFA at the Mass Council of Human Service Providers Conference, the New York Council on Nonprofits Camp Finance Conference and the Blackbaud annual user conference, among others.

Mazzone will speak at the 2010 EACUBO annual workshop in Boston on March 24, and will be a featured speaker on a March 31 webinar "Linking Income to Outcome" created expressly for the nonprofit finance audience. Special discount codes for free access to the webinar (as well as free access to the entire series of nonprofit-focused webinars) can be found on the AMS website in the company's Online Resource Center

AMS also offers UPMIFA support and training packages. Clients can retain AMS experts for training or direct consultation in UPMIFA and other aspects of endowment accounting and financial management.

About Accounting Management Solutions
Accounting Management Solutions, Inc. (AMS), headquartered in the Boston area, with offices in Providence, RI and New York City, is a leading provider of financial management, accounting and consulting services to private, public, and nonprofit organizations. As a long-term partner or a short-term solution, AMS provides senior level support including chief financial officers, vice presidents of finance, controllers, directors of finance and senior accountants for interim, project-based or part-time assignments. Exclusive providers of the AMS Rapid Diagnostic™, our work includes permanent, part-time and temporary engagements, broad-based financial assessments, managing the entire finance function, fulfilling specific technical or event-driven needs and much more. For additional information, visit http://www.amsolutions.net. For finance news and information, sign up for The AMS Report, the company's free finance industry newsletter or visit The AMS Online Resource Center.

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