Media Advisory 11/25/19

FASB Names New Members to Its Not-for-Profit Advisory Committee


Norwalk, CT, November 25, 2019—The Financial Accounting Standards Board (FASB) today announced the appointment of six new members to its Not-for-Profit Advisory Committee (NAC), effective January 1, 2020.

The NAC serves as a standing resource for the FASB. Its role is to obtain input from the not-for-profit sector on existing financial reporting guidance, current and proposed technical agenda projects, and longer term or pervasive financial reporting matters affecting those organizations.

The new members of the NAC are:

Users
  • Jennifer Deger, Director of Finance and Global Controller, the Bill & Melinda Gates Foundation (Seattle, Washington)
  • Dennis Gephardt, Vice President – Senior Credit Officer, Moody’s Investors Service (New York, New York)
Practitioners
  • Melisa Galasso, Owner, Galasso Learning Solutions, and Director, Cherry Bekaert LLP (Charlotte, North Carolina)
  • Andrea Wright, Partner and Not-for-Profit Practice Lead, Johnson Lambert LLP (Chicago, Illinois)
Preparers
  • Kevin Carey, Chief Financial Officer, Young Adult Institute Inc. (YAI) (New York, New York)
  • Barbara Potts, System Vice President – Finance, SSM Health (St. Louis, Missouri).
“Individually and as a group, Jennifer, Dennis, Melisa, Andrea, Kevin, and Barbara will add significantly to the richness and diversity of perspectives that have characterized the NAC since its inception in 2010,” stated FASB Chairman Russell G. Golden. “We look forward to welcoming them to their new roles.”

The incoming NAC members will replace six members whose terms expire on December 31, 2019: Alice Antonelli, Cathy Clarke, Jim Croft, Michael Forster, Andrew Prather, and Amy Robinson.

“On behalf of the FASB, I want to thank Alice, Cathy, Jim, Mike, Andrew, and Amy for their outstanding service on the NAC,” added Mr. Golden. “We deeply appreciate the expert insights they each brought to NAC discussions about topics of importance to the not-for-profit sector.”

For more information about the NAC and its activities, visit www.fasb.org.

About the Financial Accounting Standards Board

Established in 1973, the FASB is the independent, private-sector organization, based in Norwalk, Connecticut, that establishes financial accounting and reporting standards for public and private companies and not-for-profit organizations that follow Generally Accepted Accounting Principles (GAAP). The FASB is recognized by the Securities and Exchange Commission as the designated accounting standard setter for public companies. FASB standards are recognized as authoritative by many other organizations, including state Boards of Accountancy and the American Institute of CPAs (AICPA). The FASB develops and issues financial accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to investors and others who use financial reports. The Financial Accounting Foundation (FAF) supports and oversees the FASB. For more information, visit www.fasb.org.