February 6, 2023


Webinar


2 Total CPE Credits

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Understanding the Form 990 and its Preparation Prerequisites

Learning Objectives

After attending this presentation you will be able to...

  • Appreciate the public relations and regulatory impact of the 12-page Core Form and the most-common substantive-topic Schedules
  • Identify the circumstances "triggering" each of the 15 substantive-topic Schedules
  • Identify and master the six key Glossary Terms which all 990 preparers must be able to apply
  • Distinguish the impact on Board members' "independence" resulting from Schedule L reporting
  • Discern the various parties who will need provide the data necessary to complete the 990's widely disparate arenas of inquiry
  • Recognize the value of, and discern approaches appropriate to, public relation sensitive disclosures and presenting the completed form to a filer's Board

Major Topics

The major topics that will be covered in this class include:

  • Overview of the Form 990's design and goals in play upon the Core Form and tack-on Schedules
  • Address of the definition's key factors that make a third-party organization a "related organization"
  • Exploring the definitions of parties who are to be disclosed as managers at Part VII-A (i.e., as a TDOKE -- a Trustee/Director (TD)/Officer (O)/Key Employee (KE) - or as a High 5) and understanding what is the definition and measure of "reportable compensation"
  • Working with the definitions of "family member" and "independence" as same are used in Parts VI and Schedule L
  • Applying the definition of "business relationship" as same is used in Part VI
  • Sequencing of the form's preparation tasks and who to go to for information
  • Working with the Board of Directors to have them understand what the completed Form 990 conveys to the public/regulators

CPE Credits Available

2
Total CPE
2
Taxes

Things to Know About This Course

Course Level

  • Overview

Prerequisites

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

Advanced Preparation

None

Intended Audience

Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and other finance/compliance advisors

Provider

CPA Crossings

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