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CPE Self-Study

Form 990: Mastering Its Unique Characteristics - Tax Staff Essentials

  • $199.00-$249.00
    Form 990: Mastering Its Unique Characteristics - Tax Staff Essentials Online Access Product #: 157703
    AICPA Member: $199.00
    Non-Member: $249.00
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    Purchasing multiple enrollments for your organization? Contact a representative for pricing or for on-site training opportunities. 800.634.6780 | Contact Us

    Product #: GT-TSE.F9B

Enhance your understanding of basic tax information and not-for-profit organization issues you need to prepare the current Form 990. This CPE course covers the numerous tax reporting demands the 990 imposes, including how to respond to its inquiries. You will gain the knowledge necessary to complete Form 990s properly and advise exempt clients on the Form's complexities and demands.

Key Topics:

  • Program Service Accomplishments and Reporting Changes
  • Reporting on Managers and Their Compensation
  • Reporting on Governance
  • Further Disclosures Specific to an Entity’s Circumstances (Core Form 990 Part IV Delineating Additional Schedules Required)
  • Financial Information Reporting
  • Sequencing and Completing the Return
  • Board of Directors Discussion of Form 990
  • Related Organizations
  • Transactions With Interested Persons
  • Form 990’s Common Schedules
  • Other IRS Filings and Tax Compliance

Learning Objectives:

This course will prepare you to:

  • Recognize instances in which an organization is required to file a Form 990 instead of a Form 990-EZ, or 990-N
  • Recognize the detail sought by the IRS in reporting on program service accomplishments in Part III of the Core Form 990
  • Recall the accounting conventions (and methods) required for reporting financial information on Parts VIII through X of the Core Form
  • Recognize the impact that Schedule L reporting has on the independence of a filer’s voting board members.
  • Identify where to access data necessary for completion of the Form 990
  • Identify the principle by which control vests when determining parent-subsidiary or brother-sister status between the filer and another incorporated entity
  • Recognize the three triggers that lead to the Schedule J filing requirement
  • Identify when compensation provided to contractors is reportable on the Core Form, Part VII, Section B
  • Distinguish where the filing organization’s financial information is to be properly reported on Parts VIII, IX, X, XI, and XII of the 990 Core Form
  • Identify when a change in conduct of program services is considered significant and must be disclosed on Line 2, Part III of the Core Form
  • Identify the four types of transactions that require reporting on Schedule L
  • Describe the definitions of interested person (IP) applied to each Part of Schedule L
  • Recognize the importance of making expanded disclosures via narration on Schedule O for many of the various governance disclosures required on Part VI of the Core Form

Who Will Benefit?

CPAs, attorneys, and non-profit managers

Prerequisite: None

Advance Preparation: None

Discounts

Tax Section Members Receive Additional Savings! 

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the Tax Section.

Table of Contents

System Requirements

About the Authors

Eve Borenstein, JD

Minneapolis, Minnesota

Eve has practiced law since 1985, operating for 15 years the Tax Exempt Law Office of Eve Rose Borenstein, LLC until that firm merged in 2004 into Borenstein & McVeigh Law (renamed BAM Law Office, LLC in 2017) www.BAMlawoffice.com. In both firms, Eve has been exclusively engaged with the unique tax and regulatory rules applied by the IRS and federal and state agencies to “tax-exempt” organizations. From her home-base, Eve consults with both CPAs and non-profit organizations nation-wide, representing through 2016 more than 1000 tax-exempt organizations before the IRS on everything from field examinations and private letter ruling requests to exemption applications and status updates. While a substantial portion of her clientele are organizations with gross revenues of less than $1m per year, Eve represents many medium ($2-10m) and large organizations ($10m+), typically on tax planning needs or in representation before the IRS on examinations or classification issues.

For more than two decades, Eve has been actively engaged in the American Bar Association’s Tax Section Committee on Exempt Organizations, working from that platform, as well as with various other professional groups and committees (including those of the AICPA), to provide feedback to the IRS on exempt organization forms and procedures. Since 1990, she has authored and instructed four exempt organization CPE courses offered by State CPA societies (two on the Form 990 and two on EO tax mandates). She was the co-author of the AICPA’s “Comprehensive Form 990” course in 2013-2015, and is the co-author of AICPA’s two 8 cpe Form 990 courses available in the 2016-2018.

Informed by her representation of entities overall, and by her work with the CPA community on the Form 990’s preparation, she is widely recognized as the authoritative instructor on that Form. In addition to teaching to the professional community serving non-profits, she participates in many training programs that serve non-profits directly. Her speaking and teaching have always comprised a significant portion of her work, as she is committed to helping the sector “do it right the first time”.

Eve is a native of New Jersey and a University of Rhode Island graduate who loves her adopted home-state of Minnesota. She earned her law degree from the University of Minnesota in 1985, and then worked in the Tax Department of one of the original Big 8 accounting firms in Minneapolis before initiating her own firm in 1988. She is the proud parent of two young adults and resides in Minneapolis and Duluth with her legal spouse.

Jane M. Searing, CPA, M.S. Taxation, Tax Shareholder

Jane is a tax shareholder with Clark Nuber, P.S. in Bellevue, Washington. She leads the firm’s public charity and private foundation tax practice. Jane is a past chair and current associate member of the AICPA Exempt Organizations Technical Resources Panel. She served as chair of the panel during the years of the Form 990 redesign and continues to provide the IRS with input on continued improvements to the form. Jane also currently serves on the AICPA Tax Reform Task Force and is a former member of the Tax Executive Committee. She specializes in issues of public disclosure, income and excise tax planning for exempt organizations and their taxable subsidiaries, international financial transactions and compliance, as well as complex social venture structures and charitable giving strategies. She has extensive experience with IRS examinations, appeals, exemption applications, and ruling requests.

Jane is a regular presenter at the AICPA National Not-For-Profit Conference; AICPA Non-Profit and Governmental National Conference, and co-chairs the AICPA Private Foundation Summit as part of the Nation Tax Strategies for High-Net-Worth Taxpayers Conference.Writing credits include co-author and editor of the CCH Form 990 Compliance Guide, by Clark Nuber; co-authored with Eve Borenstein the AICPA Form 990 training materials, Form 990: Mastering Its Unique Characteristics and Form 990: Exploring the Form’s Complex Schedules; contributing author to The MBA Women’s Guide to Success (chapter 2); and A Guide to Estate Planning For Parents of Children with Special Needs;, as well as numerous articles on tax issues affecting tax exempt organizations, private foundations, and charitable gift and estate planning. She is a graduate of the University of Washington and holds a master’s of science degree in Taxation from Golden Gate University.Jane is a member of Washington Women’s Foundation, the AICPA, is Treasurer and board member of Seattle Philanthropic Advisors Network (SPAN), serves on The Seattle Foundation’s Professional Advisors Council, is a member of Washington Society of CPAs, serves as an advisor to the boards of Life Enrichment Options and Cyclecthe Wave Foundation, and is an alpine Special Olympics ski coach with the Skihawks racing team.

Jane lives in Issaquah, Washington with her husband and two boxers, Laila and Brandi. She has two adult children, and in addition to skiing enjoys hiking and running half-marathons

About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.

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