Complex Manager Compensation Scenarios: Core Form VII-A and Schedule J WEBINAR

Monday, November 29 7:30am - 10:00am PST

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2.5 Credits

Member Price $89.00

Non-Member Price $109.00

Overview

Reporting the filer’s “Managers” by name and providing their compensation and identifying only some of those “Managers” - those with “current” status as Trustees-Directors and/or Officers - is likely to be relatively easy. Way more complexity comes to bear when ascertaining potential Key Employees and qualifying them for such status, as well as finding and proving a filer’s “formers.” Such tasks can be formidable in the presence of related organizations or when third party payers for such individuals’ services have been involved. In those scenarios, accessing a managers’ “reportable compensation” and “other compensation” may be difficult to obtain and applying the three relevant exceptions to compensation disclosure can be torture. If all of that seems exhausting, take heart! The presenter here shares her experience and practical tips on how to tackle this challenge.

Highlights

Exploration of the challenges in determining a filer’s current Key Employees versus Officers and those who need be disclosed as “formers” . Why and how all of this matters. Handling the recalcitrant Trustee-Director who claims limited involvement with the filer’s governance and officers. Handling other managers who may refuse to return questionnaires. Further exploration of key compensation reporting challenges. 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.

Prerequisites

Familiarity with Form 990 Part VII-A. Experience in finding and reporting filers’ related organizations.

Designed For

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

Objectives

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/Directors, Officer, Key Employees, and High 5’s. How same diverges from IRC section 4960. Know the basics of Part VII-A (and companion Schedule J-II) compensation reporting when the filer is a common paymaster or its employees are paid by one. 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 $109.00

Member Price $89.00