Mr. Garner has more than 12 years of public accounting experience. As leader of the Not-for-Profit Team at PBMares, his objectives include growing the firm’s relationships with not-for-profit entities, bringing useful materials to the not-for-profit community through thought leadership, and bringing efficiency to both the firm’s not-for-profit practice and clients. He maintains relationships and oversees attest engagements with the firm’s not-for-profit, healthcare, and contractor clients. He also serves as the Chairman of PBMares’ Innovation Council.
Professional affiliations for Mr. Garner include the American Institute of Certified Public Accountants and the Virginia Society of Certified Public Accountants (VSCPA) where he is serving on the Young Professionals Advisory Council, the Innovation Committee, and the Accounting and Auditing Advisory Committee. He is also a regular presenter at VSCPA events, including the 2018 VSCPA Industry Conference, and was selected to attend the inaugural VSCPA Leadership Academy. At the local level, Mr. Garner is an active member of the VSCPA Tidewater Chapter, and volunteers regularly to educate college students about the accounting profession and the transition into the workforce.
In 2017, Mr. Garner was named a CPA Practice Advisor Top 40 Under 40 award winner and a Top 40 Under 40 by Inside Business. In addition, he is a 2016 recipient of the VSCPA’s Top 5 Under 35 award and a past recipient of Virginia Business magazine’s Super CPA recognition in the Young CPA category.
A recognized authority in the not-for-profit industry, Mr. Garner has been featured as a guest columnist on the Guidestar Blog and in Virginia Business and Disclosures, a publication of the VSCPA. He is also published regularly in Inside Business as a not-for-profit expert. Recent articles include “Corporate Giving Trends and Best Practices” and “Nonprofit Financial Statements: Change is Coming.” In addition, he has served as a presenter on various topics related to the not-for-profit industry.
An active member of the community, Mr. Garner serves on the Finance Committee for Ebenezer United Methodist Church. He is also the Treasurer of the Suffolk Ducks Unlimited Chapter. In addition, he participates in various volunteer activities as a member of the North Suffolk Rotary Club. In, 2020, he was appointed to the Finance and Audit Committee of Smart Beginnings of the Virginia Peninsula.
PROFESSIONAL ASSOCIATIONS:
EDUCATION:
- Bachelor of Arts in both Accounting and Business/Economics from Randolph-Macon College in Ashland, Virginia
- Master in Business Administration from the College of William & Mary in Williamsburg, Virginia
ARTICLES:
Can Not-for-Profits Use Gift Cards?
Not-for-profit organizations may be tempted to give gift cards to employees, volunteers, or those in need, but they need to be mindful of IRS de minimis fringe benefits rules, among other gift card considerations.
Single Audit Deadline Delayed by Six Months
On March 19, 2021, the Office of Management and Budget issued a memo directing federal agencies to delay, by six months, the deadline for recipient organizations to submit Single Audits. The new deadlines are September 30, 2021 and March 31, 2022.
COVID-19 Relief Money Available for Virginia Non-Public Schools
Non-public schools have an opportunity to apply for federal funding through the Emergency Assistance to Non-Public Schools (EANS) Program. Virginia participates in this program, but administrators should act quickly as the funds are limited.
More Funding for Not-for-Profits in the New COVID-19 Stimulus Bill
The American Rescue Plan Act’s changes to the Paycheck Protection Program make it easier for more not-for-profit organizations to receive funding – but as of now, the deadline to apply for PPP funds remains March 31.
Is Your Nonprofit Board Designed to Properly Oversee an Audit?
NFPs have always been adept at achieving great outcomes with few resources. This strength was put to the test even more in the past year. Whether an organization received extra funding or not, proper governance and fiscal oversight are more important than ever.
Do You Qualify for the Employee Retention Credit?
The Employee Retention Credit (ERC) incentivizes organizations to keep employees on the payroll during COVID-19, and with new rules, it’s possible to claim as much as $14,000 per employee in 2021.
What’s Your Not-for-Profit’s Liquidity Policy?
It’s time to re-evaluate what liquidity actually means and how well-crafted policies can improve an organization’s operations, finances, and be a tool for educating the public, the Board, and management.
Expanded Funding and Tax Benefits for Not-for-Profit Organizations in COVID-19 Relief Bill
Not-for-profit organizations have been a source of hope and resources for the communities they serve, but many are still struggling with the effects of COVID-19. The latest round of stimulus relief allocated $900 billion to ongoing COVID-19 relief measures, many of which stand to benefit not-for-profits.
Post-Pandemic Financial Insights and Strategies for Nonprofits
2020 has been a difficult year for nonprofit organizations. In difficult times, financial innovation and risk mitigation are necessary to survive and thrive when true recovery begins. During this summit, we will present the issues, trends, key takeaways, and even opportunities we have seen while serving nonprofits since the COVID-19 pandemic started.
Changes to Not-for-Profit Reporting Requirements of In-Kind Contributions
When it comes to charitable donations, cash might be king, but in-kind contributions play a vital role, too. Donated services and tangible or intangible goods can be sources of revenue and cost savings.
New FASB Proposal Aims to Increase Financial Reporting Requirements for Not-for-Profits
Many not-for-profit organizations rely on donations. Tapping into the generosity of their stakeholders has always been an operational necessity. And in recent years, the giving environment has become more complex with changing legislation and tax policies.
How Employers Can Comply with the DOL’s New Overtime Rules
After more than four years in the draft proposal stage and federal lawsuits, Congress recently enacted new overtime rules for white-collar workers.
Recording Contributions with Donor-Imposed Restrictions
Donor contributions make up a lot of Virginia’s nonprofits’ annual revenue. Even though the organizations are not relying only on these contributions, nonprofit management has to understand how to account for these contributions in one of two ways.
New Revenue Recognition Standards are Now Effective
Everything has changed with FASB’s new revenue recognition standards and it’s time for all remaining organizations to implement the new revenue recognition standards that originated in May 2014.
Revenue Recognition Guidance for Not-for-Profits
Not-for-profits are finally able to make sense of the confusion over the Financial Accounting Standards Board’s (FASB) new revenue recognition, Topic 606, thanks to a new standard issued June 21.
Top 5 Issues Lenders Have With Nonprofit Financials
I continue to see and hear about issues that our clients and others in the nonprofit industry are having with their lenders with respect to financial statements. It is becoming more evident that many lenders do not understand nonprofit financial statements due to their unique financial reporting requirements. Below are the top 5 issues that nonprofits have with their lenders.
Fiduciary Responsibility: An Expectation of Trust
The IRS, through its revisions to Form 990, requires reporting by not-for-profits on a range of governance issues including board member “fiduciary duty” and their ability to gain the trust of their organization. What is fiduciary responsibility and what does it mean to the board of a not-for-profit?
Changes to Not-for-Profit Revenue Recognition
As the implementation deadline of the new revenue recognition standards (ASU 2014-09) approaches, there are many companies and organizations scrambling to grasp the impact that […]
Considerations When Revising Nonprofit Bylaws
Considerations when revising nonprofit bylaws Bylaws are the rules and principles that govern your not-for-profit organization so being familiar with what they contain, and what […]
The Basics of Temporarily Restricted Contributions
For some nonprofit organizations, contributions are a significant source of revenue. Proper accounting treatment for those contributions is key, which include tracking and monitoring restricted […]
How to Engage Board Members in Fundraising
The old cliché for nonprofit Board members is “give, get, or get out.” This adage may be appropriate for your organization, but each nonprofit and […]
Keep Financial Statements Simple
Just about everyone recognizes the challenges and difficulties running a for-profit business, but running a not-for-profit can be just as challenging, if not more so. […]