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Advantages and Disadvantages of a Non-Profit Charitable Entity and Other Alternatives

non-profit charitable entity CPE Selfstudy webinar

1 Credit

$10

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00605-21-S)

1 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0578)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00605-21-S)

1 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00605-21-S)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.

Overview

  • Myths
    2 mins
  • Disadvantages of Non-Profit Entity Selection
    11 mins
  • The For-Profit Alternative
    20 mins
  • Social Purpose Corporations - Special Purpose
    31 mins
  • Alternative: Branch of Existing Nonprofit
    46 mins

Course Description

Non-profits refer to organizations like public charities, foundations, churches, fraternal groups, and chambers of commerce, which are built to address a social purpose. They encompass a broad range of structures such as non-governmental organizations also called NGOs.

Non-governmental organizations tend to tackle larger causes, often on an international scale. In the U.S more than 1.5 million non-profits exist, according to the National Centre for Charitable Statistics (NCCS).2

Whether or not a cause will find success in raising funds and serving the public good will rely primarily on the decision to become a non-profit or for-profit entity.

There is much to consider when deciding to be a non-profit organization, it is not an automatic process. The first consideration you have to make is whether you should be a non-profit at all.

This online CPE course introduces the issues that should be considered before one forms a non-profit entity.  It presents the advantages, both legal and practical, of selecting the non-profit entity. This online continuing education course also reviews the disadvantages of becoming a tax-exempt non-profit corporation, including prohibitions on private inurement and private benefit and the criteria for 501(c)(3) organizations. 

This IRS approved CE course introduces for-profit alternatives, the business corporation, social purpose corporations and benefit corporations.  Finally, it introduces non-profit alternatives to a stand-alone non-profit, including operating a branch of another non-profit and fiscal sponsorships.

This Online CPE/CE Webinar will discuss advantages and disadvantages of a non-profit charitable entity and other alternatives including:

  • Common myths about non-profits
  • Advantages, both legal and practical of non-profit entity selection
  • Legal issues, such as prohibition on private inurement and private benefit
  • Criteria for 501( c)(3) organizations
  • For-Profit Alternatives
  • Non-Profit Alternatives

Click here to access more tax webinars on | Tax Updates| IRS Audit, Representation and Resolutions

Learning Objectives

  • To identify common misunderstandings about non-profit organizations
  • To recognize advantages of non-profit entity selection
  • To recognize disadvantages of non-profit entity selection
  • To determine prohibited private inurement and private benefit
  • To identify criteria for 501(c)(3) organizations
  • To recognize the for-profit alternative to non-profit organizations
  • To identify origins and uses of social purpose corporations
  • To identify legal issues when using benefit corporations
  • To recognize another alternative:  a new branch of an existing nonprofit 
  • To identify considerations when fiscal sponsorship is appropriate

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Director of Accounting
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA