Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2025 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
In this course we will have a brief discussion on the different Forms available for annual compliance and their respective thresholds for filing. Most of our time will be dedicated to a detailed discussion on the Form 990, core pages, and the list of expansive schedules that may be included with yearly filing. We will select a few Schedules to have further detailed discussion on and the remainder will be a brief explanation of purpose.
Publication Date: April 2022
Designed For
CPAs, enrolled agents, tax return preparers, tax attorneys and financial advisors who work with not-for-profit organizations, CFOs, bookkeepers, staff accountants, and board members.
Topics Covered
- Filing requirements
- Detail of the Core Form 990
- Schedules
Learning Objectives
- Identify the requirements for annual compliance and be able to identify the correct form depending on the activity of an organization
- Gain familiarity of the Form 990
- Identify and differentiate which Schedules are required annually
- Identify the extension period beyond the original filing date for organizations below the Form 990-EZ gross receipts thresholds
- Identify the schedule used for additional explanation related to core form disclosures that don't fit on the face of the form
- Identify an example of an officer of an organization (i.e., not an officer of a board)
- Identify the schedule used to disclose transactions with interested persons
- Identify the schedule that is specific to hospitals
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructors
Carolyn Fjelstad
Carolyn Fjelstad is a Tax Manager at Clark Nuber P.S. based in Bellevue, Washington. She has 10 years of experience in public accounting specializing in the areas of not-for-profit compliance and consulting. She enjoys working with a variety of exempt organizations including social service agencies, arts and recreation and private schools. She also holds experience within the real estate industry specifically with partnerships and LLCs which own property eligible for low-income housing tax credits.
She holds a Bachelor’s Degree in Accounting from Seattle Pacific University and is an Enrolled Agent admitted to practice before the IRS. She resides with her husband and daughter in Issaquah, Washington.
Clark Nuber
Located in the Seattle metro area, Clark Nuber PS is home to one of the largest single-office Not-for-Profit practices in the United States. This nationally recognized group is composed of over 80 professionals who specialize in serving more than 750 not-for-profits. These professionals take a broad, holistic view of the entire financial and regulatory ecosystem in which not-for-profits function.
Our involvement and investment in the industry extends beyond providing professional services to charitable organizations. Our shareholders and principals also present regularly at conferences and seminars tailored to the not-for-profit community. And, several leaders serve on national-level boards and committees that establish guidance and best-practices for the sector, including the Financial Accounting Standards Board (FASB) Not-for-Profit Advisory Committee, the TE/GE EO Council’s TIC-TAQ Forum, and the AICPA Exempt Organization Technical Resource Panel.
Additionally, Clark Nuber is the author of the Form 990 Compliance Guide and the Private Foundation Handbook and Compliance Guide.
Sara Elizabeth H. Jones
Sara Elizabeth, CPA, is a shareholder at Clark Nuber P.S. and leads Clark Nuber’s Tax Services Group. She consults with various types of organizations on matters such as Form 990/990T compliance, unrelated business income, joint ventures, and exempt status. She is a frequent public speaker and writer on various issues that impact tax-exempt organizations.
As an associate member of the AICPA’s Exempt Organizations Technical Resources Panel, Sara Elizabeth works to address tax concerns facing exempt organizations at a national level. Sara Elizabeth is a co-author of the Form 990 Compliance Guide by Clark Nuber. She has been with the firm for almost 16 years. Prior to that, she spent nine years at Deloitte.