The NAC advises the Financial Accounting Standards Board (FASB), which sets the standards for how nongovernmental organizations report their finances. Because not-for-profits have a unique financial situation—for instance, they handle contributions—the NAC represents their viewpoint to the FASB. The financial reports that not-for-profits generate under FASB guiding principles help stakeholders, like donors and investors, understand the finances of the organizations they support.
The NAC meets two to three times per year and includes members from the University of Pennsylvania, the US African Development Foundation, PricewaterhouseCoopers, and Ernst & Young. Dale has been appointed to a four-year term.
Posted on February 14, 2014