This session comprises one of four Form 990 Master Classes available to those wanting intermediate-to-advanced training on the 990's most difficult...
3/24/2023 1:30pm - 4:00pm | Online | CPA Crossings
CPE Categories: Taxation (2.5 CPE)
This session comprises one of four Form 990 Master Classes available to those wanting intermediate-to-advanced training on the 990's most difficult arenas. Schedule L’s Parts II-IV require transparency of, and thus promote accountability with respect to, "insider transactions" conducted by exempt organization. Disclosure here is necessary regardless of whether the transaction or event disclosed is routine (and reasonable) or one necessary to the organization's business needs. Reporting conveys no value judgment, but omitting the fact of Parts II-IV events – loans with, grants or assistance provided to, or undertaking business transactions with – parties who are "Interested Persons" per 990 definitions is dangerous (especially if the omission signals that management may have failed to protect the organization's interests or is intentionally hiding information). This session builds upon the basics of “who” falls within Interested Person status via the five harmonized categories applying across these three parts to address: the additional IP categories employed in Parts II and IV; when a Part's transaction fits a disclosure exception; and handling what is absolutely required to be disclosed in each part, as well as the additional considerations filers face relating to public relations issues. 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.
Public accounting tax and audit staff, nonprofit organization's Treasurers, CFOs, and other finance/compliance advisors
After attending this presentation you will be able to...
The major topics that will be covered in this class include:
Single course – EB9FD325 (Transactions with Interested Persons: Form 990 Schedule L), similar CPE training, or experience with this Schedule's instructions and their application
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