Events Search
  Summary & Check Out (0)
Friday, November 26, 2021 Live Webcast

Public Charity Qualification Under the Public Support Tests (X2-19090)

11:30 AM - 2:00 PM EST
webcast

Vendor Platform

2.5 CPE Credits in TX

OVERVIEW

DESIGNED FOR

Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and finance/compliance advisors

BENEFITS

After attending this presentation you will be able to...

  • Identify the specific revenue streams that inform the first public support test's numerator and denominator as well as the limit on certain "non-public" donors' dollars applicable to this test
  • Appreciate the relative ease of this PST #1’s percentage calculation, and the flexibility by which qualification applies either automatically or alternatively via facts and circumstances
  • Identify the additional revenue stream factored into the second public support test’s numerator and denominator; as well as the complex limitations that apply when calculating PST #2 numerator
  • Recognize that the second public support test should only be used for filers who cannot pass via the first test (for this purpose only, the objective is to understand how the second public support test's limitations and disparate donor categories, as well as its added percentage test, effectively limit this test's utility as well as add to its complexity)

HIGHLIGHTS

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

  • Intro to the two public support tests (PSTs), including the various common misconceptions about each test's application
  • Review of each test, focusing first on the relative ease of PST #1 (that calculated on Schedule A, Part II) which employs a bifurcated test (i.e., an automatic %-age versus a 'facts and circumstance' %-age “in”); thereafter, emphasizing the demands and challenges of PST #2 (calculated on Schedule A, Part III) with its restrictive parameters and dual tests each of which must be passed to be “in”
  • Practical tips (and materials on same) translating revenue presentation from the Core Form 990 at Part VIII to the line inputs for both PSTs via 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

Prior preparation experience or CPE training relating to the demands of either public support test

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

$79.00 - Member

$99.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

CPA Crossings