Lovepreet Buttar

Lovepreet Buttar

CPA, MBA, CGMA, PSA Managing Director at The Mercadien Group, Principal at Mercadien P.C., Certified Public Accountants

Accounting & Consulting for Nonprofits, Audit & Assurance

609-689-2421


As a Managing Director with Mercadien’s Nonprofit and Human Services Group, Lovepreet Buttar has extensive experience performing and overseeing audit engagements for various nonprofit organizations, including associations, schools, private foundations, and health and human services organizations. She is passionate about helping these organizations support their constituents and achieve their mission. She is also head of the firm’s Audit and Assurance practice and is responsible for both firm-wide and engagement-specific quality control matters and training for various for-profit, not-for-profit and government/public entities. In this role, she helps ensure the firm is using best practices that are compliant with Generally Accepted Accounting Principles (GAAP).

Whether supervising her team of staff, or servicing her clients, Lovepreet is known for being thorough, as well as calm and cool under pressure. Her soothing manner, collaborative nature and keen insights lend themselves to a favorite aspect of her job – educating nonprofit professionals to ensure they understand and are prepared to meet changes affecting their industry and organizations. Lovepreet is frequently asked to speak at conferences and events hosted by various organizations, such as the New Jersey Association of Community Providers, the Council of Nonprofits, the Center for Nonprofits of New Jersey, Princeton Mercer Regional Chamber of Commerce, and Princeton Community Works, to name a few.  She leads numerous internal and external training seminars and regularly writes articles for the firm’s newsletter, Nonprofit Outlook, on financial reporting, tax and compliance topics in which she is highly proficient.

Driven by giving back, Lovepreet commits much of her free time to serving on boards and committees for various organizations, including the Princeton Area Community Foundation and the Burlington County Women’s Advisory Council.  She is also a past board and executive committee member of the West Windsor Arts Council and continues to seek other volunteering opportunities where she can lend a helping hand.

In addition to her client service role, Lovepreet is the Co-Chair of Mercadien’s Diversity, Equity and Inclusion (DE&I) Initiative, where she is responsible for helping to plan and execute the firm’s DE&I strategy.


Personal Fact: Lovepreet has a passion for traveling and exploring the world. In her free time, Lovepreet enjoys reading, being outdoors and exploring new towns with Starbucks in hand.


Insights

Is CECL Applicable to my Nonprofit Organization?

WHAT IS CECL? Current Expected Credit Loss (CECL) is an accounting standard introduced in 2016 by the Financial Accounting Standards Board (FASB) with the objective of improving the accuracy and timeliness of financial reporting for financial institutions.  However, the standard has far-reaching implications beyond the banking sector. Nonprofit organizations, despite the unique funding mechanisms and…

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Lessons Learned for Nonprofits: Reflecting on the Lease Accounting Standard

ASC Topic 842, the accounting standard for leases, has brought significant changes for nonprofit organizations in their financial reporting. Over the past several years, these organizations have reassessed and reevaluated their lease agreements, determining the impact on their financial statements and disclosure requirements. Let’s explore some of the key lessons learned from the ASC Topic…

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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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