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Non-profit Joint Ventures – Partnering with For-Profit Organizations 2 Credits

Non-profit Joint Ventures – Partnering with For-Profit Organizations 2 Credits

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Jan 23, 2024 | 12:30 PM ET

Learning Objective

  • To identify what constitutes a joint-venture
  • To recognize the risks of loss of exemption and the triggering events
  • To identify the criteria for unrelated business taxable income
  • To recognize the difference between advertising and qualified sponsorship payments
  • To identify the partnership taxation principle for joint ventures
  • To recognize prohibited private inurement and private benefit
  • To identify the relevance of judicial precedent and IRS guidance on joint ventures
  • To recognize the use of for-profit subsidiaries and controlled corporations
  • To identify tax reporting and planning for joint ventures

Course Overview

For decades, non-profit organizations have been looking for ways to increase revenue to better achieve their charitable (or exempt) purpose. One way they have found to do this is by entering into a joint venture arrangement with a for-profit entity.

This CPE webinar explains critical issues for non-profit joint ventures. One primary area that non-profit organizations should consider before entering into a joint venture is income tax issues. Preliminarily, one needs to understand what the IRS considers to be a joint venture. 

This CE webinar discusses the tax risks associated with a non-profit’s participation in joint ventures, including possible loss of tax exemption. It also explains whether activities will trigger unrelated business income tax. It includes partnership tax reporting and other tax reporting, for-profit subsidiaries, and planning for maintaining separate corporate identities. Finally, this CPE/CE webinar addresses the tax principles involved with joint ventures and for-profit subsidiaries and joint venture policies.

This Online CE Tax Course will discuss how to form and obtain an exemption for a non-profit entity including:

  • Income Tax Considerations
    • What is a joint venture?
    • Loss of Tax Exemption
    • Unrelated Business Income
  • Partnership Tax Reporting
    • Pass-through of Income from Joint Venture
    • Cases and Rev. Rul. 98-15 and Rev. Rul. 2004-51
  • For-Profit Subsidiaries
    • Attribution versus Separate Corporate Identity
    • Agency relationships
    • Controlled Corporations and Subsidiaries
  • Reporting and Planning for Joint Ventures
    • Disclosures: Schedule R and Form 990, Part VI
    • Joint Venture Policy and Planning

  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00790-21-S)

    Valid upto : Dec 31, 2024

  • 2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-00790-21-S)

    Valid upto : Dec 31, 2024

  • 2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0733)
  • 2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00790-21-S)

    Valid upto : Dec 31, 2024

  • 2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00790-21-S)

    Valid upto : Dec 31, 2024

  • 2 CE Credit of Federal tax-related matters for LTC (Approval No. GEHNZ-T-00790-21-S)

    Valid upto : Dec 31, 2024

  • 2 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 2 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 2 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 2 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00790-21-O)
  • 2 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. GEHNZ-T-00790-21-O)
  • 2 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0733)
  • 2 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00790-21-O)
  • 2 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00790-21-O)
  • 2 CE Credit of Federal tax-related matters for LTC (Approval No. GEHNZ-T-00790-21-O)
  • 2 CPE Credit of Taxes for Iowa Licensed Public Accountant (IA-LPA)
  • 2 CPE Credit of Taxes for Maine Licensed Public Accountant (ME-LPA)
  • 2 CPE Credit of Taxes for Delaware Licensed Public Accountant (DE-LPA)

Additional Information

Credits

2

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

Advance Preparation

None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering aintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors.

About Instructor

Mr. Michelson received his B.A. Degree, with general honors from the University of Chicago, his M.S. in Accountancy from DePaul University and his J.D. degree from UCLA School of Law. He has been admitted to practice with the U.S. Tax Court and the United States District Court, Central District of California.

Mr. Michelson is Past Chair of the Nonprofit Organizations Committee of the Business Law Section of the California Lawyers Association. He has served as Chair of the Tax-Exempt Organizations Committee of the Taxation Section of the State Bar of California, as Co-Chair of the Nonprofit Organizations Committee of the Business Law Section of the State Bar of California and as Chair of the Taxation Section of the Los Angeles County Bar Association. In May 2001 he participated in the Los Angeles County/California State Bar delegation to the Internal Revenue Service, Treasury and staff of the Congressional tax committees in Washington D.C. to discuss proposed guidance, as set forth in a co-authored paper, “Getting Connected: Business and Politics of Charities on the Internet.”  Together with other attorneys, he assisted in reviewing and suggesting revisions to portions of the California Attorney General’s Guide to Charities. Mr. Michelson is a lecturer at UCLA Extension on tax issues for nonprofit organizations. He is also Adjunct Professor at David Nazarian College of Business and Economics California State University Northridge for a class on income taxation of trusts and estates. He has lectured for business and professional organizations and written articles on various federal and California tax topics. He is a member of the American, California, and Los Angeles County Bar Associations.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Ratings and Review

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EP

Edward Pierini, CPA (US)

I'm new using myCPE and this course was definitely the best of the ones I've taken thus far.

MS

Maryann Sztenderowicz, EA

The instructor made a difficult topic very interesting.

Inclusions
  • Multiple Credits
    Multiple Credits

    Earn continuing education credits with flexibility. Choose from live webinars, on-demand courses, e-books, or podcasts to fit your learning style and schedule.

  • Certifications & Reporting
    Certifications & Reporting

    We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days - fastest in the industry.

  • Credit Tracker
    Credit Tracker

    Track and manage your compliance across all 50 states and over 100 designations. Our Credit Tracker keeps your CPE credits and compliance requirements always up-to-date.

  • Certificate Vault
    Certificate Vault

    Certificate Vault to upload, manage, and access certificates earned from various sources and an integrated credit tracker, allowing users to monitor and manage their credits conveniently for compliance.

  • Compliance Reminders
    Compliance Reminders

    Stay current with our automated reminder system. Receive timely alerts for your CPE requirements, ensuring you never miss a deadline.

  • Mobile App Access
    Mobile App Access

    The myCPE Mobile App allows you to learn on the go, providing access to educational content on Android and Apple iOS devices. You can learn anytime and anywhere, making it convenient for busy schedules.

  • Live Support
    Live Support

    Our support team is available via live chat, email, and phone from 9 AM to 5 PM ET. We're here to help with any questions or issues, ensuring you have a seamless experience.

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