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Monday, March 1, 2021 Live Webcast

Understanding the Form 990 and its Preparation Prerequisites (X2-15185)

10:00 AM - 12:00 PM EST
webcast

Vendor Platform

2.0 CPE Credits in TX

OVERVIEW

Don't drown in the Form 990's force-field! 80% of the inputs and definitions used in the form are extraneous to the statutes and Regulations that apply to the exempt sector. This course provides an easy introduction to the entirety of key definitions that preparers need embrace from the moment they first approach preparing a 990.

DESIGNED FOR

Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and finance/compliance staff

BENEFITS

After attending this presentation you will be able to...

  • Appreciate the public relations and regulatory impact of the 12 page Core Form and the most-common substantive-topic Schedules
  • Identify the circumstances "triggering" each of the 15 substantive-topic Schedules 
  • Identify and master the six key Glossary Terms which all 990 preparers must be able to apply
  • Distinguish the impact on Board members' "independence" resulting from Schedule L reporting 
  • Discern the various parties who will need provide the data necessary to complete the 990's widely disparate arenas of inquiry 
  • Recognize the value of, and discern approaches appropriate to, public relation sensitive disclosures and presenting the completed form to a filer's Board

HIGHLIGHTS

The major topics that will be covered in this course include:

  • Overview of the Form 990's design and goals in play upon the Core Form and tack-on Schedules              
  • Address of the definition's key factors that make a third-party organization a "related organization" 
  • Exploring the definitions of parties who are to be disclosed as managers at Part VII-A (i.e., as a TDOKE -- a Trustee/Director (TD) / Officer (O) / Key Employee (KE), or a High 5) and understanding what is the definition and measure of "reportable compensation"
  • Working with the definitions of "family member" and "independence" as same are used in Parts VI and Schedule L
  • Applying the definition of "business relationship" as same is used in Part VI                      
  • Sequencing of the form's preparation tasks and who to go to for information 
  • Working with the Board of Directors to have them understand what the completed Form 990 conveys to the public/regulators  

COURSE LEVEL

Overview

PREREQUISITES

Some familiarity with the nonprofit sector helpful, but not necessary

ADVANCE PREPARATION

None

INSTRUCTOR

Eve Rose Borenstein

Eve Rose Borenstein, J.D.

Eve Borenstein is a partner in Borenstein and McVeigh Law Office (BAM!) (www.bamlawoffice.com), a Minneapolis law firm and the base from which she conducts an extensive national federal tax practice serving tax exempt organizations. In her law practice (as well as through her teaching and speaking, addressed below) Eve works to assist nonprofit organizations with exemption qualification, corporate planning and overall compliance. By early 2015, she had represented more than 1,000 exempt organizations before the IRS.

Eve provided testimony to the U.S. House of Representative’s Ways and Means Oversight Sub‐Committee in July 2012 at their 2nd Hearing on Tax‐Exempt Organizations, commenting on the reach and efficacy of the Redesigned Form 990. She volunteers extensively with multiple professional committees, including the American Bar Association’s Tax Section Committee on Exempt Organizations and the American Institute of Certified Public Accountants’ Exempt Organization Technical Resource Panel. Eve was a key participant from the private sector in the IRS’ Redesign of the Form 990, and continues to provide extensive feedback to the IRS on both that Form and the Form 1023.

A dedicated teacher and speaker on non‐profit compliance mandates, Eve’s CPE teaching is conducted through a separate consultancy, Eve Rose Borenstein, LLC (www.taxexemptlaw.org). As of 2013, she is the co‐author (with CPA Jane Searing) of the AICPA’s Form 990 Course, Form 990: A Comprehensive Approach to Complete and Accurate Preparation. She enjoys instructing nonprofits directly as well as the professionals who serve the sector and is committed to “helping the sector do it right the first time!”

Eve’s professional path to the present began with exempt organizations tax work in the Minneapolis tax offices of Ernst &Whinney in 1985. From 1989 through 2003 she had a solo practice serving nonprofits nationally; a merger in 2004 with non‐profit attorney Ellen W. McVeigh created the BAM Law firm, which exclusively provides tax and corporate counsel (including employment law) to the nonprofit sector.

Eve welcomes your inquiries:
eve@BAMlawoffice.com / eve@taxexemptlaw.org
both e‐mails are interchangeable!
612.822.2677

PRICING

$69.00 - Member

$79.00 - Nonmember

Pre-Registration Closed

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