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Wednesday, March 10, 2021 Live Webcast

Intro to Other Most Common 990 Schedules: D & G (M as bonus) (X2-15251)

10:00 AM - 12:00 PM EST
webcast

Vendor Platform

2.0 CPE Credits in TX

OVERVIEW

Schedule G is a top five 'most common' Schedule, required when revenues are captured from galas (i.e.

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 need to work with gross fundraising events or sales revenues both on Core Form Part VIII and on Schedule G's Part II in order to not hide incorporated transactions 
  • Identify the various regulatory interests that filers conducting gaming are required to speak to on Schedule G's Part III 
  • Learn not only which types of assets generate application of Schedule D's multiple parts but also why those types have been singled out for additional disclosures
  • Apply the 990's definition of "noncash contributions" and need to keep data available from each tax year to support the disclosures Schedule M requires when such items comprising such contributions are donated to the organization

HIGHLIGHTS

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

  • Explanation of the low receipt thresholds by which Schedule G's Parts II and III are invoked  
  • Review of what comprises a "fundraising event or sale"
  • How Schedule G's Part II amplifies summary data inputted on Part VIII, Lines 1c, 8a and 8b 
  • Review of what constitutes gaming activity
  • Noting the underlying three tax issues that gaming activities implicate: potential unrelated business income tax, unmet payroll tax if volunteer worker/contractor status is improperly claimed, and wagering excise taxes
  • Discussion of what makes a provider a "professional fundraiser" and what information filers are responsible to report in Schedule G's Part I related to their use
  • Explanation of the entirety of Schedule D "triggers" from the 990's Core Form Part IV 
  • Specifying the common potholes Schedule D preparers face 
  • Overview of Schedule M's "grid" of disclosures by type of noncash contribution 
  • Explanation of Schedule M's reach when noncash contributions have been contributed or pledged to the filer 
  • Explanation of additional Schedule M questions and their significance as "attempts to influence adoption of baseline management practices" 

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

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