Reporting Program Service & Governance: 990 Parts III & VI

Course Details

Date

Monday, October 5, 2020

8:30am – 10:30am

Field of Study

Taxation

Course Number

CC0983

CPE Credit

2.0 hours CPE credit

Level of Knowledge

Basic

Vendor

CPA Crossings

Prerequisites

None

Description

The Form 990's non-financial disclosures are a three-legged stool that includes the two Parts covered in this session. Stakeholders, donors, and competitors use both Program Service Accomplishments disclosures and answers to the "Governance" inquiries to assess the organization's credibility and management strength.

The first of these Parts, III, requires detailing Program Service with great specificity, and also updates the regulatory community and readers as to not only what activities were undertaken but also how they may have changed.

The second of these Parts, VI, provides information as to how those "legally in charge," including the Board, utilizes policies to foster and maintain internal controls. Preparers need to appreciate the importance of these parts and ensure that organization's put their "best foot forward" properly here.

This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.

Highlights

The major topics that will be covered in this course include:

  • Part III's mandated disclosures with respect to the "largest three" programs conducted in the filing period
  • Handling public relations needs when the size measures for "largest three" result in omission of a 'top 3' program
  • Function of Part III as an ongoing updating of the filer's listing of all activities being performed as of the tax year being reported upon
  • Properly reporting upon new or changed programmatic efforts and appropriate reporting on program cessation
  • Function (and methodology) of Part VI, with emphasis on its six most important inquiries
  • Role of Schedule O in providing mandated narration of governance practices inquired of in Part VI
  • Common 'foot-faults' in answering Part VI's key questions

Objectives

After attending this presentation you will be able to...

  • Recognize the quantitative detail sought by the IRS in reporting on each of the organization's largest three programs' service accomplishment, including the expenditures detail required to be entered by 501(c)(3) and 501(c)(4) filers in the headers to each of Part III's Lines 4a-4d
  • Identify required Part III reporting when there has been: significant changes to programs, the addition of new programs, or the cessation of prior-conducted programs
  • Embrace the key six governance inquiries in Part VI of the Core Form that have the most important ramifications from a public relations perspective
  • Appreciate the narrative disclosures required on Schedule O for all key Part VI disclosures (and understand where the face of the Form cannot be relied upon
  • Learn the objective criteria by which a board of directors has sufficiently been provided Form 990 pre-filing sufficient to garner a "Yes" answer to the inquiry at Part VI's Line 11a
  • Identify the multiple disclosures required when a management company is employed at any time in the tax year being reported upon, and contrast these with Part VII-A

Designed For

Public accounting tax and audit staff, and nonprofit organization's Treasurers, CFOs and finance/compliance staff

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$79.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$109.00
Your Price $109.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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