Lovepreet Buttar

What Do You Need to Know About the Accelerating Charitable Efforts (ACE) Act?

The Accelerating Charitable Efforts (ACE) Act is proposed legislation aimed at reforming the tax laws that cover charitable donations made by Private Foundations (PFs) and Donor Advised Funds (DAFs). The Act is supported by a bipartisan organization called The Initiative to Accelerate Charitable Giving, or IACG. One aim of the proposed legislation is to restructure…

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Nonprofits – What’s Keeping You Up At Night?

The answer is probably “a lot of things” right? It is for many of us here at Mercadien. Our Nonprofit and Human Services Group meets regularly to discuss our clients’ top challenges and look at ways we can help them address their issues. We have gathered intel from our clients, the AICPA and NJCPA, the…

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Webinar Replay: The Diversity Imperative: How to Become a Diverse, Equitable, and Inclusive Nonprofit

Lovepreet Buttar, CPA, MBA, CGMA, PSA, Managing Director of Mercadien’s Nonprofit & Human Services Group participated as moderator in Fleming Petenko Law’s webinar, The Diversity Imperative: How to Become a Diverse, Equitable, and Inclusive Nonprofit on Tuesday, May 25, 2021. Other presenters included Noel Fleming, Esq. and Kayci Petenko, Esq. of Fleming Petenko Law and Ira…

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Nonprofit Accounting Standards Update No. 2020-07

Does your organization receive donated goods or services? If so, accounting for these donated goods or services will be subject to new accounting guidance. In September 2020, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2020-07, which applies to nonprofit organizations that receive contributions of nonfinancial assets, also referred to as gifts-in-kind…

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Lovepreet Buttar Elected to CCSNJ’s Board of Directors

Lovepreet Buttar, CPA, MBA, CGMA, PSA, Managing Director of Mercadien’s Nonprofit & Human Services Group has been elected to the Chamber of Commerce Southern New Jersey’s (CCSNJ) board of directors, effective January 1st, 2021. Lovepreet has over 10 years of experience performing and overseeing audit engagements for various nonprofit clients, including associations, schools, private foundations,…

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Mercadien Announces Executive Promotions; Names Ms. Lovepreet Buttar A Partner

September 14, 2020; Princeton, NJ & Philadelphia, PA – The Mercadien Group is pleased to announce several promotions within the firm’s corporate leadership team.  Ms. Lovepreet Buttar, CPA, MBA, CGMA, PSA, a member of the Nonprofit & Human Services Group, was promoted to managing director of The Mercadien Group and principal in Mercadien, P.C., CPAs…

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Nonprofit Grants & Contracts – It’s Time to Implement FASB ASU 2018-08

In June 2018, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2018-08, Clarifying the Scope of the Accounting Guidance for Contributions Received and Contributions Made. The update aims to minimize diversity in the classification of grants and contracts that exists under current guidance. Following are key considerations, as well as a flowchart…

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Are You Ready… For The New Nonprofit ASUs?

In our August 2018 newsletter, we highlighted the four new accounting standards updates (ASU) that will impact nonprofits in the next few years. ASU 2016-14, Presentation of Financial Statements of Not-for-Profit (NFP) Entities, will be effective for years ending December 31, 2018 and June 30, 2019. So now the question is, are you ready? There…

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Mercadien Announces Managing Director and Other Promotions

The Mercadien Group is pleased to announce several executive promotions within the firm.  Mr. Digesh Patel, CPA, MBA, RMA, CGMA, PSA, a director in the firm’s Government Services Group, has been promoted to managing director of The Mercadien Group and principal in Mercadien, P.C., CPAs.  A resident of Bordentown Township, NJ, Mr. Patel has been…

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Mercadien Sponsors Session at 2018 NJBIA Women Business Leaders Forum

The New Jersey Business & Industry Association (NJBIA) Annual Women Business Leaders Forum was held Friday, September 14, 2018, at the Newark Liberty Airport Marriott.  Under the theme, Empowering Together, 400+ attendees heard from featured speakers, including make-up magnate Bobbi Brown as keynote, and panelists at five different educational breakout sessions.  Mercadien sponsored the session,…

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