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Friday, February 26, 2021 Live Webcast

Understanding & Meeting the Two Public Support Tests (X2-15316)

4:00 PM - 6:00 PM EST
webcast

Vendor Platform

2.0 CPE Credits in TX

OVERVIEW

The two public support tests have been in existence since the finalization of Regulations to 1969 law but their application remains, to most preparers, murky in spite of the tests being virtually unchanged for five decades. In this session, the author/instructor focuses on assisting participants with two key goals: first, ensuring that participants understand both the design and goal of each test; and second, being conversant (with the materials as back-up) with the reach of each test's line-by-line inputs.

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...

  • Identify the inputs of revenue streams that inform the first public support test's numerator and denominator 
  • Identify the additional inputs of revenue streams that inform the second public support test's numerator and denominator 
  • Appreciate the limit on certain "non-public" donors' dollars that is employed in the first public support test as an easy one to track and calculate
  • To the end of knowing to only employ this test when the first is not available -- contrast the second public support test's limitations from those of the first test, noting that category of donor and additional testing rules limit amounts of "good" public support as well as of "good" program service revenue and that there is a second test that 'caps' the amount of investment and net unrelated business taxable income allowed in total support

HIGHLIGHTS

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

  • Intro to the two public support tests (PSTs), including noting the various misconceptions about their application
  • Review of each test, focusing on the relative ease of PST #1 (that calculated on Schedule A, Part II) which employs a sole bifurcated test (i.e., automatic versus 'facts and circumstance') versus that of PST #2 (calculated on Schedule A, Part III) with its lengthy documentation, restrictive parameters, and dual tests both of which must be passed
  • Practical tips (and materials on same) translating revenue presented the Form Core Form 990 at Part VIII to the line inputs for both PSTs at Schedule A's Parts II and III
  • Discussion of how to assist organizations who are in danger of flunking one or both PSTs
  • Analyzing anomalies: explanation of both what comprises an unusual grant and when  a filer's PST 1 "facts and circumstances test" argument ages out

COURSE LEVEL

Intermediate

PREREQUISITES

Helpful to have some background with Parts II or III of Form 990 Schedule A

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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