Disclosing Managers / Compensation on Core Form 990 and Schedule J WEBINAR

Friday, December 18 2:00pm - 4:00pm PST

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2 Credits

Member Price $79.00

Non-Member Price $99.00

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.” The 990 discloses both all Trustees-Directors, Officers and Key Employees (a/k/a “TDOKEs”) and High 5s and reports ALL amounts of “reportable” and “other” compensation provided to them by the filer and related organizations. If all of that seems exhausting, take heart! Eve Borenstein, who has been long-referenced (including by Congress) as “the Queen of the 990” for her understanding of and ability to explain the 2008-and-forward complexities of the 990, particularly with respect to Part VII reporting, here provides her extensive materials and practical tips on ALL of the relevant definitions, exceptions, and reporting demands for both Part VII-A of the Core Form and the Schedule J’s Part II.

Highlights

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 “) 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 payorsReview 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.

Prerequisites

NONE

Objectives

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’sKnow 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.

Preparation

NONE

Notice

NONE

Leader(s):

Leaders

Eve Borenstein

Eve Borenstein is a partner in Borenstein and McVeigh Law Office (BAM!), a Minnesota law firm that is the base of Eve’s national tax practice and services nonprofits and tax-exempt organizations exclusively.

Separate from the law firm, Eve operates a teaching and speaking consultancy offering instruction on nonprofit and exempt organization mandates, Eve Rose Borenstein, LLC.

Eve received her law degree from the University of Minnesota in 1985 and thereafter embarked on exempt organizations tax work at a “Big 8” accounting firm. From 1989-2003 she maintained a solo practice serving tax-exempt non-profit corporations, and in 2004 created the BAM Law firm with nonprofit corporate counsel Ellen W. McVeigh. From her law firm’s practice and through her teaching and speaking, Eve works to assist diverse nonprofit organizations with tax-exemption qualification, corporate planning and compliance. The bulk of her legal practice is representing exempt organizations before the Internal Revenue Service and/or State regulators on audit, qualification and classification issues; through 2009 she had represented more than 850 organizations before the IRS.

Eve volunteers extensively with multiple professional committees, including the American Bar Association’s Tax Section Committee on Exempt Organizations, from which she serves as a liaison to the American Institute of Certified Public Accountants’ Exempt Organization Technical Resource Panel. Through such service, and individually, Eve was integrally involved in the IRS’ Redesign of the Form 990. She was chosen by the IRS to be one of two private practitioners on the IRS Tax Talk Today TV broadcast in November 2008 dedicated to the Redesign of the Form 990, and has appeared multiple times since with IRS officials on educational panels concerning that Form.

Eve was also one of the original non-IRS collaborators in the Form 1023 Revision Project that culminated in that Form’s October 2004 “make over”. She enjoys teaching and speaking and is committed to “helping the sector (and its advisors) do it right the first time!”

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Non-Member Price $99.00

Member Price $79.00