Understanding the Form 990 and its Preparation Prerequisites

Introductory Session of Borenstein's Form 990 Foundational Series: This "initiation and introduction to" the Form 990's mechanics and importa...

12/4/2023 2:00pm - 4:00pm  |  Online  |  CPA Crossings


CPE Categories: Taxation (2 CPE)

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Introductory Session of Borenstein's Form 990 Foundational Series: This "initiation and introduction to" the Form 990's mechanics and importance will prevent you from drowning in the Form 990's force-field! More than 80% of the Form’s inputs and relevant definitions are NOT found in the statutes and Regulations that apply to the exempt sector, a reality that can be overwhelming for both novices and more advanced preparers. This session provides an easy-to-digest synopsis of the entirety of the Form’s key definitions as well as the mechanics that preparers need embrace from the moment they first approach preparing a 990. Packed with practical tips and perspectives on data gathering, this class is a "must" gateway for beginning (and even more experienced) preparers to learn “how to befriend Form 990 preparation.” This webinar will vault preparers past all the initially confounding problems of the Form 990, providing baseline info on the critical nuances the form uses. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Presented by Eve Rose Borenstein, LLC

Instructor: Eve R. Borenstein, J.D.

Target Audience

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

Course 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


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


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