Whether you are new to not-for-profit accounting or feel the need for a refresher course, we think you will find these three all day workshops worthwhile. The discussions cover accounting, tax, federal compliance, and information that is unique to not-for-profit organizations, as well as some interactive group exercises designed to make sure that you walk away with superb ideas from the workshop.
Workshop Location and Dates:
Clark Nuber PS
10900 NE 4th Street, Suite 1400
Bellevue, WA 98004
8:30 am to 4:30 pm, July 16, 17 & 18, 2018 (Continental Breakfast served at 8:00-8:30 am)
$295 per person per day registration fee includes instruction, CPE Credit and meals. Attend all three days for $780.
Please CLICK HERE to register
Parking: Due to space limitations in the Skyline Tower garage, we are unable to guarantee or validate parking.
Topics and Agenda:
Accounting Basics – July 16, 2018
Bring your “sticky” not-for-profit accounting questions! In this one day course, we will work through many real-life examples not-for-profit accountants face. We will help you understand the unique nature of not-for-profit accounting, and provide you with the knowledge to help strengthen the financial infrastructure of your organization. Topics covered include:
- Accounting for contributions is arguably the most complicated aspect of not-for-profit accounting. We’ll spend nearly a half day of our workshop just on this subject. You will learn about accounting for different types of contributions and grants, as well as restrictions, conditions, pledges, non-cash gifts, and planned gifts.
- Special Events
- Special events reporting has several options. Which is best for your organization? Should you use fund accounting in addition to reporting on a restriction basis? Should you report the breakout between operating and non-operating activities? Should you use the stacked presentation or the columnar presentation on your Statement of Activities? What underlying records are required to facilitate external reporting on your investments and endowments?
- Net Assets
- Learn the difference between net assets with donor restrictions and net assets without donor restrictions and why they need to be accounted for and tracked, along with “best practices” for how to keep track of them all. We will also help you understand the new disclosure requirements related to endowments funds.
- Functional Allocation of Expenses
- How you allocate expenses is important for projecting the right picture of your organization’s activities. Learn how to classify expenses in the right categories and why it is critical to differentiate appropriately between program services and supporting activities. You will also learn how to allocate expenses related to more than one function, as well as expenses for joint activities.
- Proper accounting for investments seems even more important in our current economy when many not-for-profit organizations are facing a decline in their operating reserves or endowment funds. This section covers the unique aspects of reporting gains and losses from investments, compliance with spending policies, “best practices” related to tracking investments, and other investment issues.
- Financial Statement Reporting Issues
- Should you use fund accounting in addition to reporting on a restriction basis? Should you report the breakout between operating and non-operating activities? Should you use the stacked presentation or the columnar presentation on your Statement of Activities? What underlying records are required to facilitate external reporting on your investments and endowments? These topics will be discussed so you can make informed decisions on how best to report in your organization.
- Internal Controls and Fraud Prevention
- How do you balance the need for controls in the not-for-profit organization with the need to keep your costs down? How do you ensure that fraud will not happen? Learn some cost-effective and practical ways to protect your organization.
Tax Basics – July 17, 2018
The Form 990 is open to public disclosure for all non-profits. Bring your own organization’s Form 990 and spend the first half of the day diving into the form itself, uncovering the reporting requirements and gaining an understanding of what the IRS is really looking for on the tax return. The second half of the day will focus on various tax topics your organization may encounter throughout the year. Find out if your property tax exemption is at risk due to unrelated activities, if your donor receipts are preventing a donor from claiming a charitable deduction, and if your sponsorship revenue is actually taxable advertising income. The agenda for the day includes the following topics:
- What It Means To Be Tax Exempt
- We’ll cover the benefits of 501(c)(3) status and the differences between public charities and private foundations. We’ll help you recognize the types of activities that can jeopardize your 501(c)(3) status and provide some tips on avoiding those activities.
- Recent Developments in the NFP Sector
- Learn about how the Tax Cuts and Jobs Act affects exempt organizations, including qualified transportation benefits, siloing of unrelated business income, excise tax on compensation, and more. We will also discuss changes to donor advised funds and the new Centralized Partnership Audit Regime (CPAR) rules.
- Form 990 Overview
- We’ll help you position your organization for success in completing the 990 core form and various supplemental schedules, including discussion of related organizations, interested persons, fundraising events, and the public support test. The form heightens transparency and disclosure, and we’ll help you make sure your organization is in compliance.
- Unrelated Business Income Taxes
- Are you paying tax unnecessarily? Are you not reporting activities that you should be reporting? We’ll discuss common issues and errors regarding unrelated business income, as well as discuss how to allocate expenses properly to minimize your tax liability.
- State & Local Taxes
- Many not-for-profits don’t realize that they are subject to state and local taxes. Learn the basics of state and local tax for not-for-profits including sales/use, business and occupation, and property taxes for not-for-profits. We will familiarize you with deductions and exemptions that are commonly missed.
- Private Foundations
- Unlike public charities, private foundations are subject to excise tax on net investment income and have strict rules on the type of activities that are allowed. In addition, public charities that fail to meet the support test for two years in a row may be required to file as a private foundation dependent upon certain facts and circumstances. We’ll discuss the basic features of private foundations and how they compare to public charities.
- Required Disclosures & Foreign Filings
- In return for not paying income taxes and for receiving tax-deductible contributions, 501(c)(3) organizations are required to make various disclosures to the public and provide specific statements to donors. We’ll help make the process easier to meet these requirements and provide your donors with documentation to allow them to claim tax deductions for donations to your organization.
Federal Grant Compliance Basics: Understanding the OMB’s Uniform Guidance – July 18, 2018
Join us for a full day devoted to learning the basics of the Office of Management and Budget’s (OMB) Uniform Guidance, with a focus on its applicability to federal grants and cooperative agreements received by Not-for-Profit Organizations. Whether new to receiving federal assistance or wanting to ensure you have grasped the provisions of OMB’s Uniform Guidance, our sessions will provide interactive instruction and exercises to ensure you come away learning the basics. The course will cover the following:
- Grant Administrative Requirements
- The government’s administrative requirements for grants to, and agreements with, not-for-profit organizations can be daunting even for the seasoned not-for-profit professional. We will help you through the pre-award requirements and policies, as well as the financial and program management requirements of the post-award activities.
- Allowable Costs and Indirect Cost Fundamentals
- The government’s cost principles for contracts and other agreements with not-for-profit organizations are thorough, but they can be difficult to navigate and understand. You will learn the basic considerations of costs, the difference between direct and indirect costs, and why negotiated indirect cost rates are the most effective mechanism for recovering your indirect costs. If your organization is currently receiving federal grants and contracts, this is a section you won’t want to miss.
- Single Audit Overview
- Audits of not-for-profit organizations receiving federal funds are one of those routine requirements of not-for-profit life. We’ll help you to understand the basic audit requirements, your responsibilities as an “auditee,” the responsibilities of federal agencies and pass-through entities, as well as how federal programs are selected for testing by your auditors.