Independence Disclosure Challenges With Form 990

Outline

1. Factors behind the push for stronger independence by non-profits
   1. Role played by federal auditors
2. Where Form 990 requires reporting of independence
   1. Part VI on governance, management and disclosures
   2. Part VII on compensation of officers, directors and key employees
   3. Schedule L changes for 2012 tax year
      1. New reporting of relationship between disqualified person and filing organization
      2. Reporting purpose of loan between interested person and filing organization
      3. Reporting purpose of grants and other assistance to interested persons
   4. Schedule R changes for 2012 tax year
      1. Revised instructions clarify VEBA reporting
      2. Named beneficiaries and determinable interests
      3. Additional examples of "indirect control"
3. Meaningful developments in state law
   1. Influential California law on non-profit director independence
   2. Proposed revisions to New York non-profit law to improve director independence
4. Practical current scenarios involving reporting of independence on Form 990

Benefits

The panel will explore important topics such as:

• Why is independence of non-profit leadership and business relationships such a high-profile topic right now?
• Which questions on Parts VI and VII of the main Form 990, and on Schedules L and R, are most closely watched by IRS auditors?
• Where is the line drawn between proper compliance and disclosure of too much information involving directors and transactions?
• How do evolving and tougher state laws on charity independence influence Form 990 disclosures?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.