Form 990 Preparation - Schedules: Not-for-Profit Tax Compliance

Overview

This video-based CPE course is included in Not-for-Profit Certificate II. It can be purchased individually or as a part of the Not-for-Profit Certificate II - Tax Compliance track.

The IRS Form 990 is made up of the core form and sixteen schedules that, taken together, are used by the IRS to monitor compliance with federal income tax law applicable to tax-exempt, not-for-profit organizations. Some of the most heavily scrutinized sections of the Form 990 include the information in the required schedules; for example, the composition of the entity's board of directors, its compensation practices, transactions with insiders, and disclosure of organizational policies and governance practices.

In this CPE course, you will take a closer look at the required schedules of the IRS Form 990. You will consider real-world examples and apply what you learned through interactive e-learning exercises. Also discussed are potential red flags to avoid.

Highlights

Key Topics

• Walkthrough of Form 990 schedules
• Reporting thresholds
• Public support test
• Lobbying and political activities
• Foreign activities
• Special events
• Gaming
• Insider compensation
• Non-cash contributions
• Domestic grantmaking
• Related parties
• Reconciling Form 990 to GAAP basis financial statements

Prerequisites

Experience working in or with the not-for profit industry

Objectives

Learning Outcomes

• Identify the process to prepare the most common Form 990 schedules
• Analyze a scenario to determine the correct amount, line item, and schedule for Form 990 reporting
• Recognize the reporting considerations for the most common Form 990 schedules