NEBRASKA SOCIETY OF
Certified Public Accountants
SERVING NEBRASKA AND ITS CPAS SINCE 1928
The Basics of Form 990
<— Previous Page
Online Registration Form
Date: September 11, 2020
Location: German American Society, Omaha
Course Time: 8:30 AM to 4:30 PM Central Time
Registration Begins: 8:00 AM
Summary
Explore the tax information and inherent not-for-profit organization issues to be mastered in properly preparing the current Form 990. This course covers the numerous reporting demands the 990 imposes, including how to respond to the Form's demands for narrative answers. Participants will gain an understanding of the tax and practical points essential to appropriate completion of the Form 990 and be guided on advising exempt clients on the Form's complexities and diverse demands.
Objectives
* Recognize and apply the following unique-to-Form 990 definitions: who is a "manager" required to be disclosed upon Part VII-A of the Core Form; required elements of manager's compensation to be disclosed; and when third party entities are "related organizations" (necessary both for Part VIIA compensation reporting and for Schedule R). * Recognize the detail sought by the IRS in reporting on both program service accomplishments and changes in operations in Part III of the Core Form. * Appreciate the unique terminology employed in the Core Form's key "Governance" Part (VI). * Appreciate 990 definitions and tax conventions employed in reporting on all aspects of financial statements (Parts VIII, IX, and X). * Recognize the importance of making accurate and expansive disclosures via Schedule O relating to six priority governance inquiries made in Part VI. * Prepare for the "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 ("non-cash") contributions (Schedule M). * Note the premises by which Schedule L is triggered.
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 * Addressing presence of "related organizations" * Identification of managers and measurements of their compensation * 990 versus books-and-records financial statement detail * Disclosures of governance inputs and Boards' employ of policies
Who Should Attend:CPAs, attorneys, and nonprofit managers

Course Level: Basic
Prerequisites: None
Course ID: EO-F990
Discussion Leader:AICPA - Peter Towle
CPE Credit: 8
Additional Information: Parking and lunch are provided on-site.

* Previously scheduled for July 16
Fee:
Early Bird Registration:
$265 - Society & AICPA Member
$295 - AICPA or Society Nonmember
$325 - AICPA & Society Nonmember
Within 30 Days of Course Date:
$300 - Society & AICPA Member
$330 - AICPA or Society Nonmember
$360 - AICPA & Society Nonmember
<— Previous Page
7435 O Street, Suite 100
Lincoln, NE 68510
(402) 476-8482
(800) 642-6178
(402) 476-8731