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Advising 501(c)(3) Tax Exempt Public Charities on Staying In Compliance

Walk through essential compliance regulations and identify pitfalls that can jeopardize an organization's tax-exempt status.

Many organizations lack a clear understanding of the rules and responsibilities associated with acquiring, maintaining and terminating tax-exempt status. Every year, hundreds of nonprofit organizations face swift penalties and possible revocation because of lack of knowledge concerning compliance issues. This topic will help practitioners provide practical guidance to their clients regarding rules and responsibilities governing tax-exempt organizations.

Runtime: 91 minutes
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Why Lorman?

Over 32 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

Applying for Tax-Exempt Status

  • Governing Entity Documents and Amendments
  • State Level Nonprofit Classification (No Tax Exemption)
  • Exempt Purpose and Dissolution Clause
  • Applying for EIN (Employer Identification Number)
  • Public Charity vs. Private Foundation

Compliance Before Exemption Is Recognized

  • Filing Returns - Form 990, Form 990-EZ and Form 990-N
  • Receiving Contributions
  • State Solicitation Statutes

Maintaining Tax-Exempt Status After Exemption Is Recognized

  • Mandatory Annual Returns (Penalties and Revocation)
  • Unrelated Business Income
  • Activities That Jeopardize Tax-Exempt Status
  • Record Keeping and Required Public Disclosures
  • Employee Related Issues (Withholding Requirements, FICA vs. FUTA)

Terminating a Tax-Exempt Organization

  • Winding Down
  • Notice Requirements
  • Distribution of Assets
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Why Lorman?

Over 32 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.

Credits

OnDemand Webinar

This course was last revised on July 17, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 32 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

Debra L. Scott

Debra L. Scott

The Scott Practice, LLC

  • Attorney and principal consultant for SP Consulting, a division of the Atlanta based law firm, The Scott Practice, LLC
  • Prior to establishing her firm, she was a relationship manager for the private bank at Bank of America; as a relationship manager, she was responsible for managing Bank of America‚Äôs first donor-advised fund
  • In the year 2000, she established The Scott Practice, LLC where she represents clients concerning fiduciary disputes and estates & trusts matters
  • In 2014, she introduced a new nonprofit consulting division to the firm called SP Consulting
  • As a principal consultant, she has advised and lectured regional and national nonprofit organizations such as The Emory Clinic, Nature Abounds, the Georgia Independent School Association, the Cobb Community Foundation, the Small Museum Association, and the RETT Syndrome Association
  • J.D. degree, Syracuse University College of Law; M.A. degree in public health, Emory University
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Why Lorman?

Over 32 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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Product ID: 405841
Published 2019
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