Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 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
Whether your organization is new, expanding, or maintaining the status quo, it can be challenging for tax-exempt organizations to determine whether alternative investments are a good fit for their portfolio. While alternative investments may yield a high rate of return, they also bring about increased administrative complexity and a likely increase in your accounting fees and tax filings. Organizations need to be equipped to make informed decisions when considering adding or keeping alternative investments within their portfolio. This course will explain the important tax nuances of alternative investments and how to evaluate whether they are a good fit for your organization. The course will primarily focus on tax and reporting implications when dealing with alternative investments.
Publication Date: August 2024
Designed For
TBD
Topics Covered
- Alternative Investment Types and Considerations
- Tax Implications of Alternative Investments: Unrelated Business Taxable Income, State Filings, Foreign Disclosures and Filings
- Consideratoin for Private Foundations
- Schedule K-1 Review
- Other Matters
Learning Objectives
- Identify basic considerations for investing in alternatives
- Recognize the foreign and state reporting requirements for alternative investments
- Identify unrelated business income tax traps in alternative investments
- Identify the carryover period for NOLs post 2020
- Identify the number of states that tax organizations for UBTI
Level
Intermediate
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic knowledge of Schedules K-1 and annual compliance for tax-exempt organizations
Advance Preparation
None
Instructors
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.
Jennifer Becker Harris
Jennifer is a tax shareholder with Clark Nuber in Bellevue, Washington, where she specializes in tax-exempt organizations. She is a leader in Clark Nuber’s Not-for-Profit and International Niches. Her practice primarily focuses on consulting and compliance for public charities, private foundations, and social welfare organizations including international matters, alternative investments, unrelated business income tax, fundraising events, commercial co-venturers, corporate governance and IRS controversy. In addition, she assists individuals with charitable gift planning. Jennifer is a co-author and editor of the Form 990 Compliance Guide, Private Foundation Handbook and Compliance Guide, Tax Cuts and Jobs Act Impact Guide to Exempt Organizations, by Clark Nuber and published by CCH, a Wolters Kluwer business. She is a frequent speaker on exempt organization and charitable giving matters with the AICPA, state societies and other professional groups.
She is a graduate of Washington State University and holds a master’s degree in Taxation from Golden Gate University. Jennifer is a member of the American Institute of Certified Public Accountants (AICPA) and Washington Society of Certified Public Accountants (WSCPA). She is the Chair of the AICPA’s Exempt Organizations Taxation Technical Resource Panel and participates in exempt organization advocacy with TE/GE Council through its TIC TAQ Committee. Jennifer is native to Washington State, where she lives with her husband, Matt, and three kids, Will, Josh and Vivienne.
Frances Olson
Frances is a tax senior manager with Clark Nuber in Bellevue, Washington, where she specializes in tax-exempt organizations and high net worth individuals. She participates in Clark Nuber’s Not-for-Profit, High Net Worth and International Niches. Her practice primarily focuses on consulting and compliance for public charities, private foundations and high net worth individuals and their families, including international matters, alternative investments, unrelated business income tax, fundraising events, etc. In addition, she assists individuals with charitable gift planning and execution.
She is a graduate of Washington State University and holds a master’s degree in Taxation from Golden Gate University. Frances is a member of the American Institute of Certified Public Accountants (AICPA) and Washington Society of Certified Public Accountants (WSCPA). She is also a member of the National board of Advisors for the Carson College of Business at Washington State University and a member of the Washington Planned Giving Council. Frances is native to Washington State, where she lives with her husband, Mitchell, and two kids, Dennesson and Marley.
Frances will be your primary contact for Form 990, 990-T and international compliance filing services. She is an active member and very passionate about her work in the not-for-profit tax services and consulting group. Her expertise gained in this area allows her to provide superior service to her not-for-profit clients with a focus on international tax compliance and reporting, unrelated business activities, special fundraising events, grants, lobbying, etc. She also has extensive experience working with social service agencies, arts organizations, international NGOs, private foundations, and private schools.