The NAC serves as a standing resource for the FASB. Its role is to obtain input from the not-for-profit sector on existing financial reporting guidance, current and proposed technical agenda projects, and longer term or pervasive financial reporting matters affecting those organizations.
“The new NAC members will bring deep, diverse experience in not-for-profit financial reporting to the Committee and to its discussions of financial reporting issues that affect this sector,” stated FASB Chairman Russell G. Golden. “Their professional expertise will be a positive addition to the valuable input the NAC provides the FASB.”
The new members of the NAC are:
- John D. Griffin, Senior Vice President & Controller, AARP (formerly known as the American Association of Retired Persons)
- David C. Horne, Chief Financial Officer, March of Dimes
- Kim E. Keenoy, Vice President, Senior Portfolio Management Officer, Bank of America Merrill Lynch
- Kimberly K. McKay, Managing Partner, BKD, LLP; outgoing chair of the AICPA’s Healthcare Expert Panel; current chair of the AICPA Healthcare Revenue Recognition Task Force
- Tammy R. Waymire, Associate Professor, Middle Tennessee State University; incoming president of the American Accounting Association Government & Nonprofit Section.
The NAC is comprised of individuals from the not-for-profit sector, including users of not-for-profit financial reports, preparers, practitioners, and those with a background in academia. Its members bring a wide spectrum of expertise and interests in both large and small organizations and in the various areas of the not-for-profit sector—higher education, healthcare, religious, cultural, social services, and other.