This session comprises one of four Form 990 Master Classes available to those wanting intermediate-to-advanced training on the 990's most difficult arenas. In reporting the filer’s “Managers” by name and providing their compensation, identification of only some of those “Managers” – those with "current" status as Trustees-Directors and/or Officers – is likely to be relatively easy.
Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and finance/compliance advisors
After attending this presentation you will be able to...
- Understand the inquiries and reasonable efforts necessary to fully report compensation provided by the filer and all other relevant parties to current and former Trustees/Direct
The major topics that will be covered in this class include:
- Exploration of the challenges in determining a filer’s: current Key Employees versus Officers; and those who need be disclosed as “formers” – individuals with "current" status in prior years but NOT in the current year, who then are to be tested for either “former” Officer/Key Employee/High 5 status or “former” Trustee/Director status
- Why and how all of this matters (including the additional compensation detailing that is required on Schedule J's Part II when a manager’s circumstances "trigger" that schedule's application)
- Handling the recalcitrant Trustee-Director who claims limited involvement with the filer's governance and Officers and other managers who may refuse to return questionnaires
- Further exploration of key compensation reporting challenges: (1) required "dial back" to the calendar year for organizations with a year other than 12/31; (2) 990-instructions-defined “deferred comp” overall and via examples; (3) compensation disclosures (and reporting exceptions) in BOTH cases of related organization’s pay and when compensation is paid by an UNrelated organization to an individual who is serving the filer; and (4) comparison of 990 reporting of compensation with IRC section 4960's "remuneration"-based excise tax
- Complex third-party payor reporting situations: procuring services of an individual from a management company or employee-leasing organization; common paymaster reporting scenarios; and when an individual’s services to the filer are paid by an Unrelated organization
Dual courses – EB9FD225 (Reporting Managers & Their Compensation: Form 990 Part VII-A) & EB9FDN12 (Finding & Reporting Filers’ Related Orgs), similar CPE training, or experience with the relevant instructions and their application