NONPROFIT FINANCIAL GROUP OF THE TWIN CITIES

Gloria Dei Lutheran Church

700 S. Snelling Ave

Saint Paul, MN 55116

 

November 20, 2008

8:00 am -10:00 am

 

How to Comply with the new Form 990 – A Tool Kit” – Q & A Panel Discussion

 

Program Description: This Q & A panel discussion is a follow-up to Eve Borenstein’s presentation on the new Form 990 at the October 23rd NFG meeting.  The November meeting will be a panel discussion intended to offer a different perspective on the Form 990 changes.  This will be an opportunity for addressing the following questions and topics:

 

·        The panel of tax professionals will address questions and offer advice on how to prepare internally for the changes

·        Panel members and nonprofit representations can share suggestions on internal processes that will make Form 990 preparation easy and efficient 

·        Discussion of how organizations are preparing for and handling the changes

·        With the new 990s focusing on certain policies, a "brush up" on some policies may be helpful - what should we make sure they have in them and changes to consider in light of new IRS focus

·        Conflict of interest (i.e. how are others planning to document or change procedures in response to the new question about "monitoring and enforcement"?)

·        Changes in record-keeping and reporting

·        With the new question, "Was a copy of the 990 provided to the organization's governing body BEFORE it was filed?" How are others planning for that? (this may be problem for some with boards that meets infrequently)

 

Background on Panel Members:

 

Kim Hunwardsen is a Senior Tax Manager and Leader of Eide Bailly’s Exempt-Organization Tax Practice. Kim has more than 15 years of experience in providing tax compliance and consulting services, assisting nonprofit organizations with their reporting and disclosure requirements, and working with organizations to develop specific tax strategies. During the past year, she has led the Firm’s efforts to gain feedback from our clients about the proposed changes to the Form 990, communicate those changes to the IRS, educate clients and Eide Bailly staff about the changes and work with clients to get their organizations ready for the changes.

 

Rich Ruvelson has nearly 25 years of experience in providing tax services to nonprofit clients, including colleges and universities, hospitals and hospital systems, federated fund-raising agencies, private foundations, religious organizations, private schools, grant-funded organizations, trade associations, and other entities.  He has worked closely with clients on a wide range of nonprofit issues including unrelated business income tax, exemption, choice of entity, lobbying, private foundation rules and charitable giving and substantiation.  Prior to joining Wipfli, Rich gained experience through leadership roles with nonprofit tax practices in Southern California, New England, the Pacific Northwest, and Kansas.  Rich has worked with both Big Four and local accounting firms and has worked with both large and small nonprofit clients.  Outside of public accounting, he has served as corporate tax manager of the University of Washington and as treasurer and finance director of the California Endowment.  Rich’s knowledge and experience, together with his understanding of a client’s business operations, are unique among nonprofit tax advisors and consultants.

 

Karen Gries is a CPA and a principal with LarsonAllen specializing in the tax implications of exempt organizations.  Karen's 20+ year public accounting career has been focused on serving the needs of exempt organizations.  Her experience includes providing services to a variety of tax-exempt organizations, including charities, social welfare, business leagues and associations, credit unions, health care providers, religious organizations, and others.  Her experience also spans many industries such as public charities and private foundations, higher education, health care and senior living, arts and social welfare, etc.  Karen provides a broad range of services to tax-exempt clients, including analysis, planning, and reporting of unrelated business income; intermediate sanctions analysis and application including assistance in mitigating an organization's exposure; corporate compliance reviews; joint venture planning to preserve exempt status;  consulting on matters of fringe benefits and compensation; applying for exempt status; resolving disclosure issues related to Form 990; and maintenance of exempt and public charity status. 

 

 

Directions to Gloria Dei Church:           

                                   

FROM THE WEST:  Go east on I-94 to the Snelling Avenue exit and go south a little over 2 miles. The church will be on your left just before Highland Parkway and the water tower.

 

FROM THE EAST:  Go west on I-94 to the Snelling Avenue exit and follow directions above.

           

FROM THE SOUTH:  Go north on I-35E to Highway 5 (West 7th Street), turn left (southwest) on W. 7th St, angle right (west) on Montreal Avenue (Highway 51), turn right (north) on Snelling Avenue.  The church will be on the right just after Highland Parkway and the water tower.

 

Mapquest link

 

                        Reply to nfg.admin@gmail.com  by November 14, 2008 if you plan to attend, so we can get an accurate count on refreshment and handout needs.  (If you will not be attending, no reply is needed.)

 

 

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