Form 990: Mastering Its Unique Characteristics

Dec 6
8:00 - 4:00 p.m.

Penn State Great Valley - Main Bldg
Malvern - Map

8-Tax
CPE Credits

Recognize and apply the following unique-to-Form-990 definitions: the “manager” required to be disclosed upon Part VII-A of the Core Form; elements of the manager’s compensation to be disclosed; and when third-party entities are “related organizations” (necessary both for Part VII-A compensation reporting and for Schedule R). Understand IRS expectations for reporting on both program service accomplishments and Part III of the Core Form. Appreciate the unique terminology employed in the Core Form’s key “Governance” Part VI.
Highlights

Primacy of the Form 990 as a “one-size-fits-all” reporting mechanism
Form 990 preparation sequencing and data gathering, and keys to getting Form 990 preparation right the first time
Making accurate and expansive disclosures via Schedule O relating to six priority governance inquiries made in Part VI
Most common schedules that typically apply to 990 filers: identification of public charity status (Schedule A); reporting on donors (Schedule B); financial statement line items and asset-sensitivities (Schedule D); reporting on fundraising events, gambling, and use of professional fundraisers (Schedule G); grant-making (Schedule I); and capture of property (“noncash”) contributions (Schedule M)