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Tuesday, December 15, 2020 Webcast

Form 990: Mastering Its Unique Characteristics (X3-2207138)

10:30 AM - 6:30 PM EST
webcast

Webcast

8.0 CPE Credits in TX

OVERVIEW

Explore the tax information and inherent not-for-profit organization issues to be mastered in properly preparing the current Form 990. This course covers the numerous reporting demands the 990 imposes, including how to respond to the Form’s demands for narrative answers. Participants will gain an understanding of the tax and practical points essential to appropriate completion of the Form 990 and be guided on advising exempt clients on the Form’s complexities and diverse demands.

DESIGNED FOR

CPAs, attorneys, and nonprofit mangers

BENEFITS

Recognize and apply the following unique-to-Form 990 definitions: who is a "manager" required to be disclosed upon Part VII-A of the Core Form, required elements of manager’s compensation to be disclosed and when third party entities are "related organizations."

- Recognize the detail sought by the IRS in reporting on both program service accomplishments and changes in operations in Part III of the Core Form.

- Analyze the unique terminology employed in the Core Form’s key "Governance" Part (VI).

- Identify 990 definitions and tax conventions employed in reporting on all aspects of financial statements (Parts VIII, IX and X).

- Recognize the importance of making accurate and expansive disclosures via Schedule O relating to six priority governance inquiries made in Part VI.

- Identify the premises by which Schedule L is triggered.

HIGHLIGHTS

· Primacy of the Form 990 as a "one size fits all" reporting mechanism

· Form 990 preparation sequencing and data gathering; and keys to getting Form 990 preparation right the first time

· Addressing presence of "related organizations"

· Identification of managers and measurements of their compensation · 990 versus books-and-records financial statement detail

· Disclosures of governance inputs and Boards’ employ of policies

COURSE LEVEL

Intermediate

PREREQUISITES

Basic knowledge of taxation

INSTRUCTOR

Brian Yacker

Brian Yacker, CPA, J.D.

AICPA

Brian has over 22 years of tax, legal, and accounting experience in the exempt organizations area. Areas of exempt organization consultation which Brian possesses expertise include public support test calculations and planning, preparation of reasonable compensation rebuttable presumption binders and Reasonable Compensation Studies, governance best practices consultation, recommendations regarding effective Bylaws, conducting of EO Governance Check-Ups, compliance with the §501(h) lobbying safe harbor, proper functional expense allocations, maximizing charity watchdog ratings, preparation of federal and state Tax Exemption Applications, conducting of unrelated business income revenue stream studies, preparing state charitable solicitation registrations and the proper internal and external reporting of special event fundraisers. Brian is currently an adjunct professor for the University of California Irvine, teaching the Nonprofit Accounting course in the Master of Professional Accountancy program. Additionally, Brian serves on the Board of Directors for the Long Beach Nonprofit Partnership (for which he is the Treasurer). Finally, Brian serves on the AICPA EO Tax Technical Resource Panel and the AICPA Nonprofit Advisory Committee. Brian earned his Bachelors degree in Finance/Marketing from the University of Virginia and his Juris Doctor from the Indiana University School of Law (Bloomington). Personal interests include hiking and camping, sports memorabilia collecting, playing fantasy sports, Asian cooking, and spending time with his wife, two daughters and son.

PRICING

$279.00 - Member

$339.00 - Non Member

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Note: Online pre-registration will close on December 15 at 10:00 AM.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

AICPA/NJCPA