OFN has launched a new online community on the CDFI Connect platform! Called “CDFI Financial Reporting & Management Forum,” we intend for this community to serve as a forum for active discussion and useful resources on topics related to CDFI financial statements and management. We also hope it will help achieve greater consensus around financials in our industry. If you are interested in joining this community, please contact OFN’s new Member Engagement Associate Elizabeth Specht at firstname.lastname@example.org.
OFN is also hosting its next Staying Connected webinar on Tuesday, February 25, from 1:00-2:00 PM ET on the topic Revenue Recognition Issues for CDFI Financial Statements. During the webinar, participants will learn about guidance and rules from the Financial Accounting Standards Board (FASB) from 2018 (which went into effect in 2019) on issues related to revenue recognition for grants and earned income and how the new guidance is affecting CDFIs’ audited financial statements.