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Form 990 in Maryland

Skillfully maneuver through federal and state regulations – know the ins and outs of Form 990. Form 990 has been around for more than 50 years. Starting out as a simple two page form, it has now evolved into 12 pages, accompanied by a 99 page instruction booklet. Our experienced panel of local professionals will walk through Form 900 and answer your most pressing questions about Maryland regulations. Even if you have an accountant prepare your Form 990, you need to be aware of the information you will need to provide. Get up to speed on financial reporting schedules, the new governance issues, and compensation discussion. You will also learn how to ensure a nonprofit organization has adequate systems in place to collect the information needed to complete the return and to address the new IRS focus on good governance. Don’t wait – purchase these reference materials today to stay on the cutting-edge of your field. Benefits for You •Get an in-depth walk-through of Form 990 •Stay abreast of the latest issues and new rules facing tax-exempts today •Avoid common errors in reporting income, expenses and activities •Take the headaches out of Form 990 procedural considerations Learning Objectives •You will be able to describe what the parts are of the Form 990. •You will be able to discuss governance issues. •You will be able to explain schedule A, R, K, C, J and F. •You will be able to review parts VII, VIII, IX and X.
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Over 29 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of What a Nonprofit Organization Is
— Philip M. Bogart
Broad Overview of Form 990
— Lori Burghauser, CPA
  • What the Parts Are
  • Where the Information Comes From
  • Schedule E: Schools; Schedule H: Hospitals; and Schedule N: Liquidation, Termination, Dissolution or Significant Disposition of Assets
  • 2012 Changes to the Form
Governance Issues
— Philip M. Bogart
  • Governance Policies
  • Records Retention Policies
  • Board Review
  • Conflicts of Interest
990 Core Form: Parts VIII, IX and X
— Kathryn L. Cuddapah, CPA
  • Part X – Balance Sheet and Schedule D
  • Part VIII – Statement of Revenue and Schedules G and M
  • Part IX – Statement of Functional Expenses and Schedule I
Schedule R: Related Organizations and Unrelated Partnerships
— Lori Burghauser, CPA
Schedule L: Transactions With Interested Persons
Schedule A: Public Charities and Public Support
— Kathryn L. Cuddapah, CPA
Schedule B: Schedule of Contributors
Schedule K: Supplemental Information on Tax-Exempt Bonds
— Kimberly C. Betterton
  • Overview of the Development of Schedule K and Its Use by IRS
  • Review of Parts, Specifically Pitfalls
  • Explanation of Post-Issuance Compliance Procedures
Compensation Discussion
— Lori Burghauser, CPA
  • 4958
  • Need for Outside Consultants
  • Compensation Comparison With Like Organizations
  • Peer Group Review
990 Part VII: Compensation and Schedule J
— Lori Burghauser, CPA
Schedule C: Political Campaign and Lobbying Activities
— Kathryn L. Cuddapah, CPA
Schedule F: Statement of Activities Outside the U.S.
— Lori Burghauser, CPA
FBAR (Report of Foreign Bank and Financial Accounts)
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Over 29 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Online Manual

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Why Lorman?

Over 29 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kimberly C. Betterton

Kimberly C. Betterton – Moderator

Ballard Spahr LLP

  • Partner in the Baltimore office of Ballard Spahr LLP
  • Practice focuses primarily on the tax aspects of tax-exempt and tax-favored financings for state and local governments and 501(c)(3) organizations for 15 years
  • Member of the board of directors, National Association of Bond Lawyers, 2011 to present
  • Participates regularly in seminars and workshops regarding public finance
  • Editor-in-chief of Federal Taxation of Municipal Bonds (LexisNexis)(2008); participates regularly in American Bar Association and National Association of Bond Lawyers comment projects to the Treasury/Internal Revenue Service
  • Member of National Association of Bond Lawyers and American Bar Association
  • J.D. degree, William & Mary Law School; B.A. degree, University of Pennsylvania
  • Can be contacted at [email protected]
No photo available

Phil Bogart

Saul Ewing LLP

Philip M. Bogart

  • Attorney in the Business Department of Saul Ewing LLP
  • Represents privately owned and managed companies, nonprofit organizations and startup companies in a variety of commercial transactions
  • Assists clients in developing and implementing corporate governance guidelines and records retention policies
  • Practice includes equity and debt financings, as well as acquisition, buy-sell and license negotiations, and venture capital financings
  • Advises professional fundraisers and charitable organizations on compliance issues in connection with state and federal fundraising and telemarketing regulations
  • Provides legal services related to medical and dental practices, including structuring, negotiating and documenting employee arrangements, partnership arrangements, acquisitions, separations and sales
  • J.D. degree, University of Maryland School of Law
No photo available

Lori Burghauser, CPA

SC&H Group

  • Principal with SC&H Tax & Advisory Services, LLC
  • Tax principal for the not-for-profit clients of the firm
  • More than 17 years of combined tax and audit experience
  • Former tax and audit supervisor with a Big Four accounting firm
  • Provides tax services, including FAS 109 provision services, and performed audits for a varied client base
  • Formerly served as a controller for a growing software company
  • Provides merger and acquisitions consulting services, and due diligence for business combinations
  • Certified public accountant
  • Graduate, summa cum laude and Lybrand medal of honor, Loyola College
No photo available

Kathryn L. Cuddapah, CPA

Aronson LLC

  • Senior manager at Aronson LLC heading the Nonprofit Industry Tax Processing and Consulting Division
  • More than 20 years as a nonprofit specialist focusing on tax, audit and consulting
  • Frequent speaker and founding director; [email protected]
  • Contributing writer to the Financial Management Handbook for Associations and Nonprofits, first and second editions
  • Frequent speaker internally and externally on topics related to nonprofit accounting and tax issues; and contributing writer for the Aronson Nonprofit blog
  • B.B.A. degree in accounting, Emory University; master’s degree in taxation, American University
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