The Form 990's approach to reporting financial statements initially seems easy as it follows the filer's books with only a modest amount of "990 instructions"-required changes. Unfortunately, those changes reflect multiple conventions the IRS uses to replace GAAP treatment that many filers otherwise would follow! Preparers need be able to recognize and apply the 990's non-recognition of both the donation of services or discounts on accessing others' properties and mark-to-market valuation of invested assets.
Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and finance/compliance staff
After attending this presentation you will be able to...
The major topics that will be covered in this class include:
None, although helpful to have some knowledge of how the Form 990 is structured
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 / firstname.lastname@example.org
both e‐mails are interchangeable!
$69.00 - Member
$79.00 - Nonmember
Note: Online pre-registration will close on April 12 at 2:30 PM.
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