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Tuesday, December 1, 2020 Webcast

Reporting Managers & Their Compensation: Form 990 Part VII-A (X2-15193)

5:00 PM - 7:00 PM EST

Webcast


Webcast , NJ

2.0 CPE Credits in TX

OVERVIEW

Identifying the "right" people who fit Trustee/Director, Officer, or Key Employee status (the key pool of "managers" the IRS disclosures, a/k/a "TDOKEs"), is essential to appropriate Form 990 reporting. Indeed, Part VII-A is the first Part of the 990's three-legged stool of high-interest, non-financial statement disclosures.

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...
  • Readily identify the three classes of legally or quasi-legally in-charge managers who are required to be disclosed on the filing for the tax year being reported upon
  • Recognize the "reportable compensation" thresholds by which employees fall into consideration as either Key Employees or High 5s (as well as "former" TDOKEs) 
  • Distinguish the mandatory three versus all other nontaxable remunerative benefits to be reported as "other compensation" provided to current and former TDOKEs and High 5s
  • Apply the $10,000 'per type' reporting exception for certain items of “other compensation” and understand the exception is not in place for Schedule J

HIGHLIGHTS

The major topics that will be covered in this course include:
  • Definitions behind the three classes of legally or quasi-legally in-charge managers who are required to be disclosed as current managers relative to each Form 990's tax year 
  • Identifying what makes someone a "High 5"
  • Drilling into the "reportable compensation" thresholds by which employees fall into consideration as either current Key Employees or High 5s, as well as former TDOKEs 
  • Explanation of the two “buckets” of disclosable compensation required to be reported as having been provided to all current and former managers (and High 5s) who are required to be disclosed on Part VII-A 
  • The two "$10,000" exceptions on Part VII-A: voiding need to disclose a related organizations' reporting (based on amounts) of "reportable compensation"; and voiding non-mandatory "other compensation" by type  

COURSE LEVEL

Basic

PREREQUISITES

None, although helpful to have some knowledge of how the Form 990 is structured

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

$0.00 - Student Member

$0.00 - CPA Candidate Member

Pre-Registration Closed

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COURSE DEVELOPER

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