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Non-Profit Governance for Tax-Exempt Organizations

  • AFSP
  • CGAP
  • CIA
  • CMA
  • CPA (US)
  • EA
  • IAP
  • ORTP
  • QIAL
  • Maryland Tax Prep.

This Course is Also Available in Self Study (On-Demand)

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  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Course Description

The directors of a nonprofit corporation are responsible for conducting its affairs and for exercising properly the powers of the nonprofit. Well-governed nonprofits are more likely to obey tax law, safeguard charitable assets and serve charitable interests than those with poor or lax governance. Because directors bear ultimate responsibility for the charity, they should be aware of their fiduciary duties

This CPE webinar will address the basic rules and best practices for the board of directors to follow to assist them to fulfill their duties. These rules draw upon federal tax laws and state nonprofit laws. Navigating the complexities of the laws become more manageable once one becomes acquainted with the policies that assist directors with identifying the markers to keep their organization on track. Directors can then fulfill their duties and be guardians to ensure that the charitable interests are properly served.

This Online CPE webinar will discuss non-profit governance for tax-exempt organizations including:

1.   Fiduciary Duties of Directors

-  Duty of care

-  Duty of loyalty

-  Self-dealing

2. Fulfilling Director's Responsibilities

-  Board composition and meetings

-  Audit Committees:  California model

3.  Challenges:  Compensation and Self-Dealing 

- Public Charities - Intermediate sanctions

- Private Foundation - Self-dealing excise tax

4.  Governance and Form 9900

- Tax Compliance Principles

- Management Policies

5.  Additional best practices 

- Policies not requested or required by IRS

- Other laws


Learning Objectives

  • To identify the fiduciary duties of directors
  • To make practical suggestions for directors to fulfil their responsibilities
  • To determine how to evaluate and approve self-dealing transactions
  • To identify best practices for payment of compensation in public charities
  • To recognize private foundation self-dealing transactions
  • To identify governance and management policies specified in Form 990
  • To determine best practices not currently required by law

Recommended For

  • This CPE/CE course is recommended for CPAs, EAs, AFSPs, CMAs, CIAs, and Other Accounting and Tax Professionals, NFP CEOs, NFP Board Members, NFP Directors, desiring to learn about Non-Profit Governance.

Who Should Attend?

  • Assistant Controllers
  • Auditors
  • California Registered Tax Professional
  • Certified Management Accountant
  • CFO/Controller
  • Compliance Managers
  • Compliance Officers
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Maryland Tax Preparers
  • Non Profit Pros
  • Nonprofit Board Members
  • NonProfit CEOs
  • Nonprofit Executive Directors
  • NonProfit Fundraisers
  • Oregon Tax Preparers
  • Tax Attorney
  • Tax Firm
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CE Credit of Federal Tax Related Matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00665-21-O)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Certified Management Accountants (CMA)
  • 2 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 2 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0629)
  • 2 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 2 CE Credit of Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00665-21-O)
  • 2 CE Credit of Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00665-21-O)
  • 2 CPE Credit for Certified Internal Auditors (CIA)

Presenter

About Presenter

Louis Michelson

President Louis E Michelson, A Professional Corporation

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.

About Company

Louis E Michelson, A Professional Corporation

lemtax.com/

Louis E. Michelson focuses his practice on income tax planning, charitable giving and other federal, state and local taxation issues for individuals, corporations and tax-exempt organizations.

Mr. Michelson advises public charities, private foundations, religious and educational organizations, and other nonprofit organizations on issues of formation, management, joint ventures, planned giving and board governance. He also has extensive experience with income tax planning for business transactions and estate planning.


Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

3.9

12 Ratings

Excellent

5

Very Good

3

Average

3

Poor

1

Terrible

0

KA

Kathryn Astbury, CPA (US)

Dec 17th, 2021

The polling questions were a little involved to evaluate in the allotted time.

Non-Profit Governance for Tax-Exempt Organizations

$20

2 Credits

Subject Area

Taxes