990 Master Class: Taking Real World Facts from Draft to Final – NEW!

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Sep 26, 2018

Registration: 7:30 AM / Program: 8:00 AM - 4:00 PM

Fees

Member Fee: $320.00
Nonmember Fee: $420.00

Available Discounts

AICPA Member: None
Full time Accounting Educator: -160.00

Description

Mastering a specific organization’s Form 990 completion requires application of the organization’s facts to the form’s personality. The most effective way to prepare a Form 990 properly is NOT to fret over the instructions, but to apply baseline 990 definitions and demands to a final product that the filer will be proud of! In this course, authored by 990-queen Eve Borenstein, you will use facts behind a sample $1,000,000 public charity to demonstrate, in four 100-minute modules, how to complete key 990 arenas.

Designed For

Private accounting tax staff, private accounting NPO auditors, and NPO Board members, Treasurers/CFOs, and finance staff

Objectives

Participants will learn to: 

  • Apply common managers' circumstances to Form 990 status categories (Part VII-A)
  • Understand factors that make interconnected organizations "related" (R-II thru IV)
  • Generate the inquiries necessary of Boards of Directors essential to Insider Transaction (Schedule L) disclosures 
  • Understand the inquiries and reasonable efforts necessary to fully report managers' compensation provided by the filer and other parties
  • Interpret GAAP revenue and expense categories in line with Form 990 priorities (VIII/IX/X)
  • Discover easy "program reporting" tips (III)
  • Illustrate "common cheats" for fundraising event reporting (Schedule G-II)
  • Generate the inquiries necessary of Boards of Directors essential to Governance (Part VI) disclosures
  • Avoid Schedule A "embarrassments" (both public charity income streams versus supporting organization Schedule A issues)
  • Learn what to watch out for with the less common Schedules’ scenarios (C-I, F, G-I, N)

Major Subjects

In this one-day seminar authored and instructed by exempt organizations tax advisor Eve Borenstein, you will use facts behind a sample $1,000,000 public charity to demonstrate, in four 100 minute modules, how to complete key 990 arenas:

  1. “Finding Those Who Need Be Found:” Related Organizations & TDOKEs . . . identifying both those to be reported upon Core Form Part VII-A, and the entities to be disclosed upon Schedule R, Parts II-IV
  2. Reporting Compensation (Part VII-A) & Addressing Schedule L’s Transactions with Insiders (Parts II-IV: Loans, Grants, and Business Transactions) . . . appropriate completion of Schedule L disclosures and understanding what is required to properly report managers’ compensation
  3. “Pedal to the Medal,” Powering Through Financial Disclosures . . . understand GAAP-tax differences and interpret the 990’s revenue and expense categories (Parts VIII/IX/X); and discover key tips for both program reporting (Part III) and fundraising event reporting (Schedule G-II)
  4. Remaining Key Questions: Schedule Triggers/Disclosures & Governance . . . how to’s here address: approaching Part VI and its connection to the Board of Directors; avoiding Schedule A pitfalls; and noting common “mistake” Schedules (C-I, F, G-I, and N)

Leaders

Eve Borenstein

Eve Borenstein, JD Minneapolis, Minnesota

Eve has practiced law since 1985, operating for 15 years the Tax Exempt Law Office of Eve Rose Borenstein, LLC until that firm merged in 2004 into Borenstein & McVeigh Law (renamed BAM Law Office, LLC in 2017) www.BAMlawoffice.com. In both firms, Eve has been exclusively engaged with the unique tax and regulatory rules applied by the IRS and federal and state agencies to “tax-exempt” organizations. From her home-base, Eve consults with both CPAs and non-profit organizations nation-wide, representing through 2016 more than 1000 tax-exempt organizations before the IRS on everything from field examinations and private letter ruling requests to exemption applications and status updates. While a substantial portion of her clientele are organizations with gross revenues of less than $1m per year, Eve represents many medium ($2-10m) and large organizations ($10m+), typically on tax planning needs or in representation before the IRS on examinations or classification issues.

For more than two decades, Eve has been actively engaged in the American Bar Association’s Tax Section Committee on Exempt Organizations, working from that platform, as well as with various other professional groups and committees (including those of the AICPA), to provide feedback to the IRS on exempt organization forms and procedures. Since 1990, she has authored and instructed four exempt organization CPE courses offered by State CPA societies (two on the Form 990 and two on EO tax mandates). She was the co-author of the AICPA’s “Comprehensive Form 990” course in 2013-2015, and is the co-author of AICPA’s two 8 cpe Form 990 courses available in the 2016-2018.

Informed by her representation of entities overall, and by her work with the CPA community on the Form 990’s preparation, she is widely recognized as the authoritative instructor on that Form. In addition to teaching to the professional community serving non-profits, she participates in many training programs that serve non-profits directly. Her speaking and teaching have always comprised a significant portion of her work, as she is committed to helping the sector “do it right the first time”.

Eve is a native of New Jersey and a University of Rhode Island graduate who loves her adopted home-state of Minnesota. She earned her law degree from the University of Minnesota in 1985, and then worked in the Tax Department of one of the original Big 8 accounting firms in Minneapolis before initiating her own firm in 1988. She is the proud parent of two young adults and resides in Minneapolis and Duluth with her legal spouse.

Rev. 8/17