Mastering Form 990 Schedule G: Reporting Fundraising and Gaming Activities for Nonprofits

Navigating Accounting, Tax Reporting and UBTI Rules

Recording of a 110-minute CPE webinar with Q&A


Conducted on Wednesday, September 9, 2015

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will provide accounting and tax professionals advising tax-exempt organizations with the tools and understanding to properly report fundraising and gaming activities on Schedule G of Form 990 or Form 990-EZ. The panel will perform a “deep dive” of the accounting calculations and tax reporting rules for special events, including the dollar thresholds of professional fundraising costs, contributions and gross gaming event income, as well as discussing the nuances of UBTI, and referencing Schedule G entries to other parts and schedules of the Form 990.

Description

One of the more complex tasks for tax professionals advising nonprofit organizations is how to report net income from fundraising activities, special events and “gaming” activities. Many nonprofit/tax-exempt organizations conduct fundraisers through raffles, bingo nights, and other types of gaming activities. Nonprofit reporting rules for gaming and fundraising income and expenses are complex, requiring separate accounting and reporting on a dedicated portion of Form 990, Schedule G.

There are three components to Schedule G; receipts and expenses from each class of activity requires separate reporting of income and expenses. Expenditures for fundraising activities in excess of the statutory limit require a detailed schedule of the entities or persons the nonprofit paid. Fundraising events, reported on Part II of Schedule G, have separate reporting thresholds and requirements. Tax advisers must know the reporting thresholds and details of fundraising activities to report those activities on Schedule G.

Nonprofits who conduct “gaming” activities also have their own accounting and reporting requirements, but also come with the risk of entity-level taxes on “unrelated business taxable income.” Nonprofits that earn UBTI over the stated threshold must pay tax (UBIT) on that income; excess UBTI can jeopardize an organization’s tax-exempt status.

Listen as our experienced panel provides a comprehensive guide to completing Form 990 Schedule G and discusses the tax traps nonprofits must avoid in fundraising events and activities.

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Outline

  1. What activities qualify as fundraising events that must be reported on Schedule G
    1. Fundraising activities
    2. Fundraising events
    3. Gaming
  2. Detailed exploration into Schedule G by activity
  3. UBTI issues with fundraising and gaming activities
  4. Other information reporting obligations

Benefits

The panel will discuss these and other critical questions:

  • How to differentiate between fundraising activities, fundraising events and gaming events
  • Allocating expenses to fundraising events and activities
  • Reporting the respective activities on Part I, Part II and Part III of Schedule G
  • Tying back Schedule G information to other parts of the Form 990
  • How to determine whether receipts from gaming activities qualify as UBTI, and how to advise exempt organizations to avoid UBTI traps
  • Other information reporting topics

Faculty

Yigit Uctum, CPA, CFE, MBA
Yigit Uctum, CPA, CFE, MBA

Senior Manager
Wegner CPAs

Mr. Uctum works exclusively with tax-exempt organizations and is an in-charge auditor for numerous different types of...  |  Read More

David Odahl, CPA
David Odahl, CPA

QC Manager
Wegner CPAs

Mr. Odahl's primary duties as his firm's quality control manager include reviewing work performed on...  |  Read More

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