Rick Cole

Supervising Project Manager | FASB

Rick Cole is a Supervising Project Manager at the Financial Accounting Standards Board (FASB). In that role, he provides oversight to projects involving not-for-profit organizations (NFPs), consults on other projects affecting NFPs (e.g., Restricted Cash), and participates in some of the FASB's broader outreach activities. He was the Supervising Project Manager on the FASB's recently issued Financial Statements of Not-for-Profit Entities Accounting Standards Update (ASU), as well as a member of the project team for the FASB's recently issued Revenue Recognition of Grants and Contracts by Not-for-Profit Entities ASU. He is the project manager on the Financial Performance Reporting for business entities project. Mr. Cole also is the coordinator for the FASB's Not-for-Profit Advisory Committee and the Private Company Council.

Prior to joining the FASB, Mr. Cole was the Vice President and Controller at the American Museum of Natural History in New York, where he worked for over seven years, and before that was a senior manager with KPMG LLP, where he worked for over fourteen years and specialized in audits of higher education institutions and other NFPs. Mr. Cole is a lecturer at Columbia University's School of Professional Studies in their Non-Profit Management program. Mr. Cole earned a BS and an MBA from Montclair State University. He is a CPA in New York and New Jersey, and is a member of the AICPA and the New York State Society of CPAs.


This session will provide an overview of recent Accounting Standards Updates (ASUs), including a focus on implementation matters concerning Grants & Contracts to NFPs (ASU 2018-08); NFP More

This session will be a deeper dive into the ASU, beyond what is covered in the GAAP Update session. It will provide a detail walkthrough of categorizing grants/contracts as either exchange More

This session will provide implementation tips, examples, and best practices for the adoption of ASU 2016-14, Presentation of Financial Statements of NFP Entities. Through the sharing and More