Partner, Michael Caro, Jr. earned Not-for-Profit Certificate I and II badges issued by the AICPA (Association of International Certified Professional Accountants and CIMA (Chartered Institute of Management Accountants).
The Not-for-Profit Certificate I badge is awarded to professionals who have completed the requisite course of study and have demonstrated a command of applying best practices in nonprofit board governance and the planning steps of a nonprofit audit engagement; applying core concepts in not-for-profit financial reporting, auditing, governance, and tax compliance concepts; recognizing U.S. GAAP reporting standards applicable to not-for-profits, and identifying basic state and federal filing requirements of exempt organizations.
Professionals who earn the Not-for-Profit Certificate II badge apply techniques in not-for-profit financial reporting, auditing, governance, and tax compliance. Earners identify risk assessment and response, cash flow management, and forecasting methods to effectively steward resources. These professionals practice preparing and analyzing nonprofit financial statements and IRS Form 990s, assessing financial health, and determining potential unrelated business income tax liability.