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Public Charities in Connecticut

Tax-exempt organizations are under increasing scrutiny - are you following the rules? Purchase these reference materials and stay abreast of the issues confronted by tax-exempt organizations. These reference materials will provide practical answers to important legal, accounting and tax issues facing public charities in Connecticut. Purchase these reference materials today and get an inside look at how to respond to confusing issues confronting tax-exempt organizations today. Take advantage of this opportunity to make sure you stay current and stay out of trouble. Benefits for You •Learn about federal and state regulations you need to follow •Gain an understanding of exempt organization accounting and tax reporting •Discuss hot topics in tax-exempt organizations •Learn how to handle nonprofit governance issues with confidence •Find out what you need to know to keep your 501(c)(3) status when restructuring
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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

Tax Exemption and Formation
— Susan E. Roberts
  • Preliminary Formation Questions
  • Nonstock Corporation Formation Under Connecticut Law
  • Issues Relating to Recognition of Tax-Exempt Status
  • Compliance
  • Connecticut Regulation of Charities
Financial Statements
— Adam P. Cohen, CPA
  • Generally Accepted Accounting Principles – GAAP
  • Net Asset Categories, and Contributions and Grants
  • Investments and Endowment Funds
  • Measuring Operating Results
  • Alternatives to Reporting Under GAAP and to Audited Financial Statements
Hot Topics in Tax-Exempt Organizations
— Edward B. Spinella
Form 990
— Adam P. Cohen, CPA
  • Form 990 – Federal Annual Information Return
  • Core Form 990
  • Schedules A-R
Fiduciary Duty and Governance
— Christopher J. Rixon
  • The Basic Legal Parameters and Process vs. Substance
  • Duty of Care and Duty of Loyalty
  • Sarbanes-Oxley in the Tax-Exempt World
  • Volunteer Protection Statutes
  • Indemnification and Insurance
  • Tying It All Together
  • Case Study
Strategic Alliances and Reorganizations of Section 501(c)(3) Organizations
— Barbara B. Lindsay
  • Section 501(c)(3) Framework
  • Motivations and Goal Setting
  • External Alliances: Mergers, Acquisitions and Affiliations
  • Internal Restructuring: Conversions, Holding Companies, Supporting Organizations and for Profit Subsidiaries
  • Fiscal Sponsorship
  • IRS Concerns Regarding Alliances With For-Profit Organizations
  • IRS Concerns Regarding Alliances with Nonsection 501(c)(3) Organizations
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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

Online Manual

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

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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.

Faculty

No photo available

Adam P. Cohen, CPA – Moderator

Adam P. Cohen, CPA, LLC

  • Principal, Adam P. Cohen CPA, LLC, West Hartford
  • Concentrates in financial and tax reporting and consulting for not-for-profit organizations
  • Firm provides strategies and tools for fiduciaries and managers, tax qualification, and Opportune Philanthropy® projects
  • Served on the boards and committees of numerous not-for-profit organizations
  • B.A. degree in economics, Yale College
  • Can be contacted at 860-521-6400 or [email protected]
No photo available

Susan E. Roberts – Moderator

Robinson & Cole LLP

  • Attorney, Robinson & Cole LLP
  • Practices tax law, focusing on advising tax-exempt organizations
  • Listed as a Rising Star in Connecticut Super Lawyers® in the area of tax law since 2010
  • J.D. degree, University of Connecticut School of Law, Law review; B.A. degree, cum laude, Drew University
  • Can be contact at 860-275-8217 or [email protected]
No photo available

Barbara B. Lindsay

Barbara B. Lindsay, LLC

  • Practices law in New Haven at Barbara B. Lindsay, LLC
  • Represents nonprofit organizations and their advisors
  • Visiting lecturer at Yale Law School since 1992 teaching nonprofit organization law
  • J.D. degree, Columbia Law School; LL.M. degree in taxation, New York University School of Law; A.B. degree, magna cum laude, Harvard University
  • Can be contacted at 203-497-8327 or [email protected]
No photo available

Christopher J. Rixon

Reid & Riege, P.C.

  • Stockholder, Reid and Riege, P.C.
  • Chair of the firm’s Tax Group
  • Practice includes structuring for profit and nonprofit business entities; mergers and acquisitions; federal, state and local tax planning; charitable bequests and endowments; and representation before the IRS and Connecticut Department of Revenue Services
  • On the Economic Development Council of the MetroHartford Alliance, the Executive Committee of the Connecticut Bar Association’s Tax Section and the Tax Club of Hartford
  • LL.M. degree in taxation, New York University School of Law; J.D.degree, cum laude, Western New England College School of Law; B.A. degree, University of Rhode Island
  • Can be contacted at 860-240-1052 or [email protected]
Edward B. Spinella

Edward B. Spinella

Reid & Riege, P.C.

  • Partner in the office Reid and Riege, P.C. and is a member of the firm’s Business Law and Nonprofit Organizations Practice areas
  • Practice focuses on providing general counsel services to tax-exempt organizations and closely held businesses
  • Has cultivated a familiarity with the culture of tax-exempt organizations by regularly speaking to nonprofit executives, volunteer fiduciaries and advisors through various educational forums
  • Has been an actively engaged member of the Connecticut Bar Association’s LLC Act Subcommittee and its anticipated overhaul of the Connecticut Limited Liability Company Act
  • Member of the American Bar Association and the Connecticut Bar Association
  • J.D. degree, with honors, University of Connecticut School of Law; B.A. degree, summa cum laude, College of the Holy Cross
  • Can be contacted at 860-240-1054 or [email protected]
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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: 390450
Published 2013
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