|Full time Accounting Educator:||None|
After attending this presentation you will be able to...
- Identify the principles by which control vests when determining parent-subsidiary, subsidiary-parent or brother-sister status between the filer and another not-for-profit entity
- Identify how control vests over an entity that is a stock corporation
- Appreciate the nuances of looking for "commonly controlled" related organizations (i.e., sibling organizations)
- Apply diagrams of the most-common indirect control scenarios
- Understand what information is disclosed when reporting as a related organization: a not-for-profit who is tax-exempt in Schedule R, Part II; a corporation or trust in Schedule R, Part V, or an entity taxed as a partnership in Schedule R, Part III
- Recognize the conditions in which transactions with a related organization will need have dollar details disclosed in Schedule R, Part V, line 2
The major topics that will be covered in this course include:
- Exploring the reach of "parent-subsidiary" and "sibling" status when the party who is the subject of "control" is a nonprofit/nonstock entity: finding that the filer is "controlled" or that a third-party nonprofit is a related organization of the filer due to who it is "controlled" by
- Understanding what is considered "control" when a party who would be the related organization is a stock corporation, partnership and/or LLC taxed as a partnership, or trust
- The ramifications of applying the former in cases of related organization status vesting via indirect "control"
- The two automatic status categories of related organizations: supporting organization connections (one entity being a 501(c)(3) with 509(a)(3) sub-classification from connection to another entity) and VEBA-unique categories
- Disclosures required on Schedule R's Parts II-V once the presence of one or more related organizations is ascertained
- Part V additional disclosures when a filer has a related organization who is a "controlled entity" (this via 512(b)(13)'s UBIT-reach in the case of certain revenues from controlled organizations)
- Review of the two 'other' Parts of Schedule R: Part I on disregarded entities, and Part VI on unrelated partnerships
This event has already passed. If you have any questions, please contact us at 503-641-7200 or email firstname.lastname@example.org.