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Wednesday, October 28, 2020 Webcast

Disclosing Managers / Compensation on Core Form 990 & Sch. J (X2-15279)

5:00 PM - 7:00 PM EDT
webcast

Webcast

2.0 CPE Credits in TX

OVERVIEW

The 2nd sequencing step in preparing a Form 990 is identifying "current" Trustees-Directors and Officers as well as POTENTIAL Key Employees and, finally, current High 5's and "formers". To do this, and to complete the relevant Core Form and Schedule J Parts that result, one must know what is "reportable compensation," applicable compensation exceptions, and the specific thresholds for Key Employees, High 5's, and "formers.

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...
  • Populate the current TDOKE pool by reference to both a filer's Board & Officer chart and its calendar year staff compensation printout along with testing of all KE's duties and compensation from related organizations 
  • Appreciate the utility of the two $10,000 exceptions (one regarding reportable compensation from a single related organization and the second regarding certain types of "other compensation") in avoiding Schedule J 
  • Understand the inquiries and reasonable efforts necessary to fully report compensation provided by the filer and all other relevant parties to current and former TDOKE and High 5's
  • Know the basics of Part VII compensation reporting when a common paymaster is in use
  • Be able to discern what compensation is required to reported as paid by the filer when an unrelated organization is paying some or all of the remuneration received by an individual for their service as the filer's Trustee-Director, Officer or employee

HIGHLIGHTS

The major topics that will be covered in this class include:
  • Review of who is to be reported in Part VII-A as a current or former legally or quasi-legal "in-charge" (i.e., Trustee-Director, Officer, Key Employee -- a group also known as "TDOKEs") or as a High 5
  • Exploration of the challenges in determining: current Key Employees versus Officers; former (relating to "current" status in prior-years) TDOKEs and/or High 5s; and who qualifies as a Trustee-Director in circumstances of limited involvement with the filer's governance
  • Compensation reporting: the required "dial back" to the calendar year for organizations with a ye other than 12/31; handling of compensation provided from "related organizations" (including reporting exceptions) versus that coming from certain unrelated payors
  • Review of compensation "buckets": "reportable compensation" versus "other compensation" and the applicable exceptions for Core Form reporting
  • Additional compensation detailing that is required on Schedule J's Part II when an individual TDOKE's or High 5's circumstances "trigger" application of that schedule  
  • Complex reporting situations: individuals procured from management companies or from employee-leasing organizations; common paymaster reporting scenarios; payment to an individual for services they are providing the filer by an unrelated organization       

COURSE LEVEL

Intermediate

PREREQUISITES

Reporting Managers & Their Compensation: Form 990 Part VII-A (or some experience with the basics of Core Form Part VII-A and its instructions)

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

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COURSE DEVELOPER

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