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CPE Self-Study
Form 990: Exploring the Form's Complex Schedules
NASBA FIELD OF STUDY
Taxes
LEVEL
Advanced
CPE CREDITS
Text: 12.0, Online: 9.5
Learn the most advanced tax and not-for-profit issues related to the Form 990 Schedules. You will not only gain an understanding of the tax and practical points necessary to complete Schedules A, C, F, J, K, L, N, and R of the current Form 990, but you will also be advised as to how to communicate with exempt clients on each of these Schedulesí unique demands.

CPE On-Demand
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Product details

Mastery of the current Form 990 beyond its Core Form pages requires an understanding of the Form's transparency demands relating to multiple complex issues, including: Transactions with certain insiders, expanded disclosure of highly-comp'd individuals' calendar year compensation, identifying and reporting in the presence of, "related organizations," nuances of the two "public support tests", undertaking of foreign operations, and more.

This CPE course covers the most advanced tax and nonprofit issues related to Form 990's Schedules. You will not only gain an understanding of the tax and practical points necessary to complete Schedules A, C, F, J, K, L, N, and R of the current Form 990, but you will also be advised as to how to communicate with exempt clients on each of these Schedules' unique demands.

Learning Objectives

This course will prepare you to do the following:

  • Distinguish between the in-flows of each of the public support tests, apply each test's calculations, and identify what defines a supporting organization, and note such entities' types and attendant reporting obligations.
  • Distinguish the reporting obligations of 501(c)(3) organizations with respect to lobbying versus that of the proxy tax in place for 501(c) (4), (5), and (6) organizations, and note required electioneering reporting of all 501(c) entities.
  • Recognize the triggers for Schedule F.
  • Recall the definitions of Interested Persons applied within each Part of Schedule L.
  • Recognize the expanded compensation reporting and management practices inquired of in Schedule J.
  • Appreciate both the need for bond counsel involvement in completing Schedule K and the diverse scenarios that trigger Schedule N.
  • Identify the common reporting disclosures required in the presence of "related organizations" and the unique reporting demands applied, based on type of entity.

Key Topics

  • Key issues that affect how public charities are classified and relate to Schedule A reporting
  • The various public policy realms inquired of in Schedule C
  • Complexity and problems within Schedule F's instructions
  • Identification of, and reporting in Schedule R, of related organizations
  • The various types of "transactions with Interested Persons" required to be disclosed in Schedule L
  • Critical issues to avoid in Schedules K and N
  • Items to watch for when completing Schedule J's Parts I and II

Who Will Benefit?

  • CPAs, attorneys, and not-for-profit managers

Discounts

Not-for-Profit Section Members Save an Additional 20%!

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 NFP Section.

Author

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

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 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 specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$279.00
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Estimated total:
$279.00
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CREDIT INFO
CPE credits
Text: 12.0, Online: 9.5
NASBA Field of Study
Taxes
Level
Advanced
Prerequisites
Basic knowledge of the Core Form 990, Parts I-XII
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
F990A
Group Pricing
Product number: GT-F990A
Contact a representative for group pricing or on-site training opportunities. 800.634.6780 (Option 1) | Contact Us
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