FSP FAS 117-1: Net Asset Classification and Enhanced Disclosures

Jeff Mechanick is the staff specialist for not-for-profit organizations (NPOs) at the Financial Accounting Standards Board (FASB). In his role, Mr. Mechanick manages projects specific to NPOs, consults on the implications for NPOs of more general projects, and communicates extensively with members of the not-for-profit sector.Since joining the FASB in 2006, Mr. Mechanick has managed the FASB Staff Position (FSP) projects on Not-for-Profit Endowments and UPMIFA (FSP FAS 117-1) and on Omnibus Changes to Consolidation and Equity Method Guidance for NPOs (FSP SOP 94-3-1 and AAG HCO-1); has been a core team member on the Mergers & Acquisitions by NPOs project; and has consulted on various other projects, including those on Fair Value Measurements (Statement 157) and on Postretirement Benefit Obligations (Statement 158). He has also spoken at numerous conferences, sponsored by the American Institute of Certified Public Accountants (AICPA), the National Association of College and University Business Officers, several state CPA societies, and various other organizations.Prior to joining the FASB, Mr. Mechanick spent a combined twenty years working in and with the not-for-profit sector. He was the chief financial officer of Planned Parenthood Federation of America, Inc., and before that, a senior audit manager with KPMG, LLP, where he specialized in serving NPOs. As the National Technical Senior Manager for KPMG

Barry C. Hawkins is a partner in Shipman & Goodwin LLP

Ian J. Benjamin, CPA is a Partner at McGladrey & Pullen, LLP and leader of the New York Not-for-Profit Services Group. He has more than 25 years of experience serving not-for-profit organizations including foundations, international, membership and cultural organizations, colleges and universities, K-12 schools and trade and professional associations.Mr. Benjamin is a member of the Not-for-Profit Organizations Committee of the New York State Society of CPAs and of the Technical Standards Subcommittee of the American Institute of CPAs

Cynthia Pierce, a graduate of Valparaiso University, is the executive in charge of Crowe Horwath LLP