Instructor: Casey Lynch, CPA
Fee: $49, 1 class
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Schedule: Thursday ♦ 7:00 PM - 9:00 PM
990 tax returns are a combination of a set of financial statements and questions about a tax-exempt organization. Grantors use the 990 tax return to evaluate nonprofit corporations. The Internal Revenue Service also uses the 990 tax return to gather information about nonprofit corporations and make sure they are in compliance with the law. Review the key policies and procedures that need to be in place to satisfy IRS requirements, for example:
- Programs comply with grant purpose
- Maximum benefit of tax exempt purpose
- Assurance that funds are being correctly used
- Matching support from the local community
- Restricted grants are spent for the purpose intended
Casey will review these and other issues the IRS is alert to and discuss policies/procedures you can establish for your nonprofit organization to remain in good, legal standing.