Tuesday, October 31, 2017
8:00 - 9:45 a.m.
The Westin, Mount Laurel

Susan Bass Levin
President and CEO,  The Cooper Foundation 

George E. Norcross, III
Executive Chairman,  Conner Strong & Buckelew

Dr. Kris Singh
President and CEO,  Holtec International

Denise M. Morrison
President and CEO,  Campbell Soup Company


State Affairs Committee featuring
Assemblyman John J. Burzichelli
Wednesday, October 18, 2017
8:00 - 10:00 a.m.
Adelphia Restaurant, Deptford

Rutgers Business Outlook
Tuesday, October 24, 2017
8:00 - 9:45 a.m.
Crowne Plaza, Cherry Hill

Good Morning South Jersey featuring
Joseph R. Jingoli, Jr.
Friday, October 27, 2017
8:00 - 10:00 a.m.
The Westin Mount Laurel, Mt. Laurel

Communications & Energy Committee featuring The Honorable Robert F. Powelson
Tuesday, October 31, 2017
11:30 a.m. - 1:30 p.m.
The Westin Mount Laurel, Mt. Laurel

2017 Veterans Career Fair
Thursday, November 9, 2017
8:00 - 11:30 a.m.
Crowne Plaza, Cherry Hill
The Financial Accounting Standards Board (FASB) recently issued a proposed Accounting Standards Update (ASU), Clarifying the Scope and Accounting Guidance for Contributions Received and Contributions Made. The proposed ASU is intended to improve and clarify guidance on revenue recognition of grants and contracts by not-for-profit organizations.

Stakeholders have indicated that there is difficulty and diversity in practice. This diversity is most prevalent with government grants and contracts. Different interpretations can affect the timing of revenue recognized. The proposed ASU assists in distinguishing between contributions (nonreciprocal transactions) and exchange (reciprocal) transactions, and conditional and unconditional contributions. The proposed ASU guidance could result in more grants and contracts being accounted for as contributions.


Certain grants may be determined to be contracts with customers and therefore, subject to revenue recognition rules under Topic 606. However, Topic 606 is not yet effective. Therefore, the effective date of the amendments in this proposed update will be the same as the effective date of Topic 606.  

Most organizations would be required to adopt the amendments during calendar years ending December 31, 2019 or fiscal years ending in 2020. However, organizations that have issued or are a conduit bond obligator would need to apply these amendments a year earlier.

The amendments would be applied on a modified prospective basis. Agreements that are not completed or are entered into after the effective date would be subject to the amendments. Agreements that have been completed (i.e. revenue has been recognized) would not be affected. No prior period results would be restated, and there would be no cumulative effect to the opening balances of net assets. An organization would be required to disclose the nature and reason for the accounting change and an explanation of the reasons for significant changes to each financial statement line item. 

All stakeholders are encouraged to review and provide comments on the proposed ASU by November 1, 2017. 

Read our full alert, which further outlines guidance for contributions,  click here .

Bruce S. Katcher, Esq.

Chaired by Bruce S. Katcher, Esq.,  Partner at Manko, Gold, Katcher & Fox, LLP , the Environment Committee m eets four times per year to discuss environment-related legislation and regulations and to hear from the state's top policymakers on these issues.  

Interested in joining this committee? Contact Crystal Henderson at chenderson@chambersnj.com or  (856) 424-7776 ext. 123.

Taxation in New Jersey 
- The Solutions
On October 4, industry experts discussed the public policy behind taxation in NJ, and offered solutions that could bring relief to businesses and residents at a Stradley Ronon Make New Jersey Competitive Series event. 

Emerging Leaders Network
On October 5, CCSNJ's Emerging Leaders participated in a Nine and Network event at Ramblewood Country Club. The event kicked off with nine holes of golf, followed by a cocktail reception and networking opportunities with CCSNJ Board members, including former Chairman Ron Jaworski and keynote remarks from former Board member Michael Renna, president and CEO of South Jersey Industries. 

Committed to Camden Committee Reception at The Victor's Pub
On October 11, CCSNJ & Camden City hosted their second Committed to Camden Committee event where more than 120 businesspeople gathered at The Victor's Pub in Camden for an evening of networking with Camden's small businesses and representatives involved in development projects in the city.

Filomena Lakeview Hosts Network Connection Lunch
CCSNJ held its Network Connection Series event on October 12 at Filomena Lakeview in Deptford. Attendees enjoyed networking with current and prospective CCSNJ members at the Gloucester County event. See below for upcoming dates of this series.




October 19
8:30 - 10:00 a.m.
October 26
5:00 - 7:00 p.m.
November 2
11:45 a.m. - 1:30 p.m.

Senate President Sweeney Announces 
'The Rowan Consortium'
On Tuesday, October 10, Kathleen A. Davis, Executive Vice President & COO participated in Senate President Stephen Sweeney's press conference announcing 'The Rowan Consortium' which is NewJersey's first "bundled" education program for job training.

The Work & Learn Consortium, a model designed by Rowan College of Gloucester County in collaboration with Rowan University, Gloucester County, the NJ Department of Labor & Workforce Development and the Gloucester County Chamber of Commerce, will create degree programs developed in conjunction with business and industry leaders designed to address the seven highest areas of labor demand in New Jersey: Advanced Manufacturing; Financial Services; Transportation, Logistics & Distribution; Healthcare; Biopharmaceutical Life Sciences; Hospitality, Retail & Tourism; and, Construction Management.


Stefanie Marabella 
Credit Consultant and Coach
Networking goes hand-in-hand with running a successful business. Here are a few tips to consider and put into practice when attending an event: 
  • Resist the urge to arrive late.
  • Ask easy, open-ended questions.
  • Ditch the sales pitch.
  • Share your passion.
  • Smile.
  • Don't take over the conversation.
  • The fortune is in the follow-up.

Imagine being able to assist local charities by doing something as simple as offering your employees access to beverages in your facility. Coca-Cola, in partnership with CCSNJ, offers members access to the Vend4Cause program. Vending machines and/or coolers supported by Coca-Cola can be placed in your business and a portion of every dollar spent is given to a charity of your choice. For more information click here.
Ashley Merryman at Charity Changer at (816) 787-7400 or

DONG Energy plans to change company name to Ørsted

New company name reflects a profound strategic transformation from fossil fuels to renewable energy 

DONG Energy announced that the company will change its name from DONG Energy to Ørsted effective 10/30/2017. The decision follows the global energy company's profound strategic transformation from black to green energy and the recent divestment of its upstream oil and gas production. The company will also phase out all use of coal by 2023. 

Noting that the DONG Energy name no longer accurately reflects the activities and ambitions of the company, company leaders called for an Extraordinary General Meeting to ask the shareholders of the company to approve a change of the company name to Ørsted.

SJI Announces Acquisition of Elizabethtown Gas and Elkton Gas
from Southern Company Gas

South Jersey Industries (NYSE: SJI) announced it has entered into agreements to acquire the assets of New Jersey-based Elizabethtown Gas and Maryland-based Elkton Gas from Pivotal Utility Holdings, Inc., a subsidiary of Southern Company Gas.
Upon the successful completion of this transaction, SJI will become the second largest natural gas provider in New Jersey, with service to more than 675,000 customers. In addition to Elizabethtown Gas' 288,000 customers, the company will also add over 6,000 customers in Maryland as part of the deal.

Click here to read the full article.

Spirit of Community Event

Launched in 2011, Spirit of Community is South Jersey's premiere civic event that celebrates extraordinary civic-minded volunteers, businesses and non-profits. 

The Volunteer Center of South Jersey invites you to the celebration on Thursday, October 26th, 2017 at 6:00 p.m. for dinner at Auletto Caterers in Deptford, followed by the awards ceremony. You are welcome to nominate individuals, businesses and non-profits who are deserving of recognition.

For one night, government officials, members of the media, non-profit organizations, corporations and service-minded leaders will unify to honor the contributions made daily by friends, neighbors and family members.

Click here to buy tickets for this event.

Veteran Career and Resource Event

Thomas Edison State University is proud to host a Veteran Career and Resource Event on Thursday, Oct. 27 from 11 a.m. to 6 p.m. that supports the transition and postsecondary advancement of our nation's veterans. The event is free for all attendees and participants. 

Click here to register.

Members 1st of NJ is a not-for-profit financial cooperative that offers a wide range of financial products and services with competitive interest rates and lower fees.



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