Most tax-exempt, not-for-profits (NFPs) are required to file an annual information return Form 990, which is filed with the IRS and available to the public. Accurate and complete reporting of the Form 990 is critical, not only to maintain an NFP’s tax-exempt status, but also to uphold the organization’s reputation and its ability to raise funds from donors, members or other supporters. Some of the most heavily scrutinized sections of the Form 990 include the questions regarding an NFP’s governance practices, such as the composition of the entity’s board of directors, its executive compensation practices and disclosure of organizational policies.
In this CPE course, you will learn the fundamentals of the Form 990 series of returns, including the basic financial and non-financial information necessary for preparing a complete and accurate return. Topics in this course include the structure of the core Form 990 and related schedules, adjustments to reconcile the Form 990 to an entity’s financial statements, and common errors that should be avoided.