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Non-Profit Governance For Tax-Exempt Organizations

  • Accountant
  • CFE
  • CMA
  • CPA (US)
  • CFIRS
  • CWS

Published: May, 2021

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Fiduciary Duties
    1 mins
  • Duty of Loyalty
    12 mins
  • Board Composition and Meetings
    21 mins
  • Deemed disqualified persons
    38 mins
  • Governance and Form 990
    66 mins

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 one 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 boards of directors to follow to assist them 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 fulfil 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

Recommended for:

This CPE webinar is recommended for any Professional Interested in Learning about Non Profit Accounting & Tax Related Issues.

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

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Business Owner
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Certified Fraud Examiner (CFE)
  • 2 CPE Credit for Certified Management Accountants (CMA)
  • 2 CPE Credit of Business Management and Organization for Certified Public Accountants (CPA-US)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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 through its website: www.NASBARegistry.org.

Presenter

About Presenter

Louis Michelson

Advisor, 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

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Ratings and Review

4.6

12 Ratings

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MP

Melissa Patterson, CPA (US)

Dec 27th, 2021

good course on NP governance. It has some state of CA referencing.

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