CPA, MBA, CGMA, PSA Director at Mercadien P.C., Certified Public Accountants
Lovepreet Buttar is a director at Mercadien, P.C., CPAs and a member of the firm’s Nonprofit & Human Services Group. Ms. Buttar has more than 10 years of experience performing and overseeing engagements for various nonprofit clients, 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.
Her specializations encompass reporting, disclosures and compliance issues of entities subject to Uniform Guidance, as well as state and local reporting requirements. She is also proficient in the tax exemption determination process and maintenance of exemption for 501(c)(3), 501(c)(4), and 501(c)(6) entities.
Whether supervising her team of staff, servicing her clients, or responding to urgent inquiries from either, 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 and consulting with nonprofit professionals to ensure they understand and are prepared to meet changes affecting their industry and organizations. Not surprisingly, 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, Philadelphia VIP 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.
Personal Fact: Lovepreet has a passion for traveling and has been to five countries so far, a count she hopes to grow each year. In her free time, Lovepreet enjoys reading, being outdoors and exploring new towns with Starbucks in hand.
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…Read More