Understanding the "Most Common" Form 990 Schedules: A, B & O

Overview

This event is offered in collaboration with the Minnesota Society of CPAs.

Master the preparation of Form 990 schedules with practical guidance and actionable insights you can apply immediately. Focus on the three most critical schedules: Schedule A, required for all 501(c)(3) organizations; Schedule B, applicable to many (c)(3)s and certain non-(c)(3)s and Schedule O, where some of the form's most complex disclosures reside. Develop a clear understanding of Schedule A, including its two public support tests, and clarify common misconceptions around donor reporting in Schedule B. Gain insight into Schedule O's most sensitive disclosure requirements, ensuring you can handle its underlying obligations. Leave with the insight needed to prepare these schedules accurately and communicate their implications confidently.

Highlights

Benefits of public charity classification.

Public support tests and common pitfalls.

Preparation of Schedule B and related worksheets, including donor disclosure.

Governance and public relations considerations.

Board review and compliance expectations.

Management company disclosure requirements.

Prerequisites

Some familiarity with the nonprofit sector.

Designed For

Public accounting tax and audit staff; nonprofit organization treasurers, accountants, CFOs and other finance and compliance advisers.

Objectives

Understand how Schedule A, Part I reports an organization's basis for classification each tax year.
Identify revenue inputs, calculate public support percentages and understand donor diversity and contribution limits.
Learn the reporting conventions for disclosing donor contributions and identities.
Examine the six key inquiries in Part VI and their related disclosure narratives.
Understand criteria for answering "Yes" to Part VI, Line 11a regarding board review.
Identify disclosures required when an organization employs a management company and how these differ from Part VII-A reporting.

Preparation

None

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Eve Borenstein, AICPA

Leader Bios

Eve Borenstein, AICPA

Eve Borenstein, JD Eve has practiced law since 1985, operating for 15 years the Tax Exempt Law Office of Eve Rose Borenstein, LLC until that firm merged in 2004 into the then-created Borenstein and McVeigh Law Office (www.BAMlawoffice.com). Her practice in both firms has been dedicated to the unique tax and regulatory rules applied by the IRS and state agencies to “tax-exempt” organizations. Office in Minneapolis, Eve consults with both CPAs and individual non-profits nation-wide; through 2012 she had represented more than 950 tax-exempt organizations before the IRS. A substantial portion of her clientele are organizations with gross revenues of less than $1,000,000 per year, but Eve also represents many medium and large organizations, typically on planning or IRS audits and correspondence.

For the past two decades, Eve has been an active member of the American Bar Association’s Tax Section Committee on Exempt Organizations, working from that platform, as well as with various other professional groups and committees (including those of the AICPA) to provide feedback to the IRS on exempt organization forms and procedures. Since 1990, she has authored and instructed four exempt organization CPE courses offered by State CPA societies (two on the Form 990 and two on EO tax mandates), and is the co-author of the AICPA’s “Comprehensive Form 990” course debuting spring 2013.

Informed by her clients’ experience in IRS examinations and by her work with the CPA community on the Form 990’s preparation, she is widely recognized as the authoritative instructor on that Form. In addition to teaching to the professional community serving non-profits, she participates in many training programs serving non-profits directly. Her speaking and teaching have always comprised a significant portion of her work in service to her commitment to see the sector “do it right the first time”.

Return to Top