Nonprofit Governance and Form 990

Overview: 

This webinar’s focus is on the relationship between non-profit governance and Form 990. It introduces the tax compliance principles which the IRS has articulated. These principles prompted changes which are incorporated into specific disclosures on Form 990. There are 9 governance policies which are identified in Form 990. Each of these governance policies are individually reviewed and examined. These policies include a policy for consistent operation of chapters, branches and affiliates, the conflict of interest policy, a whistleblower policy and a document retention and destruction policy.  Also discussed are a compensation policy, a reimbursement policy for business, travel and entertainment expenses; a policy on participation in joint ventures, a financial information review policy and a policy on disclosure. There is also a discussion of nonprofit best practices, which are not requested nor required by the IRS.

Course Objective: 

• You will be able to identify tax compliance principles
• To recognize the usefulness of a mission statement
• To identify the 9 governance and management policies included in the Form 990
• To recognize the elements of a conflict of interest policy
• To identify a policy for consistent operation of chapters, branches and affiliates
• To recognize how to implement a whistleblower policy
• To identify the rationales for a document retention and destruction policy
• under federal excise tax laws
• To recognize when a compensation policy is required
• To identify the reasons for policy on participation in joint ventures
• To identify the different approaches to a financial information review policy
• To recognize best practices and policies not requested or required by the IRS

Target Audience: 

• Legal and Tax Professionals
• Paralegals 
• Law Students

Basic Knowledge:

Familiarity with basic legal concepts and an understanding of federal income taxation principles would be beneficial but not mandatory.