Program Services and Governance: Form 990 Parts III and VI WEBINAR

Monday, August 16 11:00am - 1:30pm PDT

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2.5 Credits

Member Price $89.00

Non-Member Price $109.00

Overview

The Form 990 Parts addressed in this session are two `legs’ of the 990’s non-financial disclosure-driven three-legged stool. Stakeholders, donors, competitors, and naysayers use both the Program Service Accomplishments Part’s disclosures and the filer’s responses to Part VI’s “Governance” inquiries to assess the organization’s credibility and have a sense of management’s capacity. Part III not only details Program Services’ output with great specificity, but also updates the Form’s readers both as to the filer’s largest arenas of activities and how conducted activities have changed. Part VI, the infamous “Governance Part,” provides information as to the composition of those “legally in charge,” as well as how both the Board of Directors/Trustees and its delegated officials employ policies in favor of maintaining internal controls. Preparers need to appreciate the importance of these two key parts and ensure that filers put their “best foot forward” properly here.

Highlights

Part III’s mandated disclosures with respect to the “largest three” programs conducted in the filing period. Handling public relations needs when the size measures for “largest three” result in omission of a ‘top 3’ program. Function of Part III as an ongoing updating of the filer’s listing of all activities being performed as of the tax year being reported upon. Properly reporting upon new or changed programmatic efforts and appropriate reporting on program cessation. Function and methodology of Part VI, with emphasis on its six most important inquiries. Role of Schedule O in providing mandated narration of governance practices inquired of in Part VI. Common ‘foot-faults’ in answering Part VI’s key questions.

Prerequisites

Some familiarity with the nonprofit sector helpful, but not necessary.

Designed For

Public accounting tax and audit staff, nonprofit organization treasurers, CFOs, and other finance advisors.

Objectives

Recognize the quantitative detail required in reporting on the organization’s largest three program arenas’ “accomplishments,” including the expenditures detail required to be entered by 501(c)(3) and 501(c)(4) filers in the headers to Part III’s Lines 4a-4d. Identify required Part III reporting when there has been any of the following: significant changes to programs, the addition of new programs, or cessation of prior-conducted programs. Embrace and appreciate: (a) the key six governance inquiries in Part VI of the Core Form that have the most important ramifications from a public relations perspective; and (b) the narrative disclosures required on Schedule O for all key Part VI disclosures. Understand which Part VI lines are “most reviewed” by State regulators. Learn the objective criteria by which a board of directors has sufficiently been provided Form 990 pre-filing in manner sufficient to garner a “Yes” answer to the inquiry at Part VI’s Line 11a. Identify the multiple disclosures required when a management company is employed at any time in the tax year being reported upon, and contrast these with Part VII-A.

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 $109.00

Member Price $89.00