Form 990: Functional Expense Reporting and Grantmaking (Completed)

Date: Wednesday, September 19, 2018
Instructor: Jane Searing
Begin Time:  9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time
CPE Credit:  2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC

This two-hour CPE webinar offers a practical examination of the compliance issues related to Form 990 reporting functional expenses and properly reporting foreign and domestic grants.

This session focuses on understanding functional expense reporting for tax exempt organizations on Part IX of Form 990. Charitable organizations and organizations exempt under 501(c)(4) must classify their expense schedule by function. Understanding the definitions of program, management and fundraising categories is essential to correctly preparing this Schedule. Funders and many state charity officials pay close attention to this data. Even seasoned return preparers sometimes struggle with classification of expenses based upon often complicated facts and shared uses of facilities and other resources. Understanding the details of the instructions and definitions is critical to getting it right.

Join one of the country's leading tax-exempt organization practitioners, Jane M. Searing, CPA, M.S. Taxation, for this practical examination of the compliance issues related to Form 990 reporting for functional expenses and properly reporting foreign and domestic grants. Ms. Searing is a co-author of the Form 990 Compliance Guide published by Wolters Kluwer.

Time will be provided for you to ask questions directly to Ms. Searing during the program

Who Should Attend
This program is beneficial for CPAs, enrolled agents, tax return preparers, tax attorneys and financial advisors who work with not-for-profit organizations and their donors.

Topics Covered

  • Definitions of functional expense categories
  • Identifying and removing book expenses not allowed for tax reporting
  • Properly categorizing grants that are domestic and foreign grants

Learning Objectives

  • Recognize how to classify expense categories for tax-exempt organizations
  • Define program, management, and fundraising categories properly
  • Examine and properly categorize domestic and foreign grants

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None

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