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Dates: Mondays and Thursdays, November 7, 14, 18, & 21 (No class November 11th in observance of Veteran’s Day)
Time: 4:00 to 7:00 PM PST

Join us for a hands-on, interactive approach focusing on nonprofit organizations. We will guide you through the preparation of nonprofit returns from the P&L to the Form 990 while bringing your attention to common issues and situations unique to nonprofit taxation. Whether you’re a nonprofit novice or an expert at exempt organizations you won’t want to miss this!

IMPORTANT: Every class will be recorded and the materials will be available before and after class. If you miss a class, you will still receive the recording and materials, but you will not receive credit. 

Location:

Online Meeting via Zoom
This will be Zoom Meeting. Once you register and pay, the Zoom link will be provided for you to log in at the designated meeting time. Zoom requires registration before entering the meeting.

Presenters: David Eastis and Veronica Marelli

David A. Eastis, CRTP, BA, MA
Mr. Eastis holds various degrees. His BA is in the area of accounting from Indiana University, South Bend. Other degrees held are from the University of La Verne and Bethany Theological Seminary. David currently has a practice located in Brea, California. One of his specialties is dealing with Non-Profit Corporations. As an active member of CSTC, he has held numerous positions of leadership including state president of CSTC and positions within individual chapters. David is a frequent speaker at the annual CSTC Summer Symposium. David has been an annual speaker in our own Greater Long Beach Chapter sharing his expertise on numerous topics.

Veronica Marelli, EA
Veronica has a formal education in Accounting and has been an Enrolled Agent for almost 20 years. She is the owner of Tax Resolution Advocates with offices in Temecula California, SLC Utah, and Southern Idaho. Tax Resolution Advocates is a full-service tax firm that specializes in tax problem resolution. She is also a Certified Tax Resolution Specialist.

She has recently added Profit First consulting to her firm. She is approximately one of only 140 tax professionals in the US to become a Profit First Professional. Profit First is an organization dedicated to eradicating entrepreneurial poverty.

Veronica served as 1st Vice President of the California Society of Tax Consultants at the State level. She also served the local North San Diego Chapter as second Vice President for many years. Both of these positions were as the Education Chair. It was her main responsibility to ensure Tax professionals Statewide were trained and up to date on all new State and federal tax laws and changes to the current tax code.

Veronica has a vast amount of experience serving and working on the Board of Directors. She has, or is currently serving on five different boards of Not-for-profit organizations. These organizations have helped our communities by providing shelter for abused women and homeless teenagers, feeding underprivileged children, and the planting of new Christian Churches.

More About This Course:

Session 1: Discovering the Lifecycle of Nonprofit Organizations

This session will introduce the participants to the life cycle of a nonprofit organization.

  • Stage 1: Starting Out. Identifying appropriate Federal tax classification, creating a nonprofit organization under state law, acquiring an EIN.
  • Stage 2: Applying for Exemption. Acquiring, completing, and submitting application Form 1023, or Form 1024, Form 8976. And CA Form 3500, and DOJ form to complete RRF-1.
  • Stage 3: Required Filings. Form 990, 990-EZ, 990N. CA Form 199, 199N. DOJ Form RRF-1.
  • Stage 4: Ongoing Compliance. Determining how a nonprofit organization can avoid jeopardizing it’s tax exempt status.
  • Stage 5: Significant events. Understanding audits, private letter rulings, and the termination process.

Session 2: Accounting for Nonprofits

Nonprofits have particular requirements regarding restricted funds and functional expenses, and these have been recently updated. Understanding these concepts and recording the transactions correctly provides all the information needed for the tax return. We will look at these concepts and how to record them by working through a comprehensive example, starting with the journal entries and ending with a set of financial statements which will be used to prepare Form 990. 

Session 3: Navigating Through Form 990, part 1.

  • Part 1 – summary
  • Part 2 – Signature Block
  • Part 3 – Statement of Program Accomplishments
  • Part 4 – Checklist of Required Schedules
  • Part 5 – Statements regarding other IRS filings and tax compliance
  • Part 6 – Governance, Management, and Disclosure

Session 4: Navigating Through Form 990, part 2.

  • Part 7 – Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
  • Part 8 – Statement of Revenue
  • Part 9 – Statement of Functional Expenses
  • Part 10 – Balance Sheet
  • Part 11 – Reconciliation of Net Assets
  • Part 12 Financial Statements and Reporting
  • Schedule A
  • Schedule O

CPE Information:

Each class during this seminar is 3 Federal Tax Law Hours

IRS: 18QC1-T-02048-24-O
CTEC: 1000-CE-5511

Knowledge Level: Basic (No prior knowledge expected) 

Registration (includes all four classes):

Cost:
Member: $350
Non-Member: $415

Cancellation and Refund Policy: 

Written cancellations will be accepted up to three (3) business days before the course begins for a full refund. Please email your request to [email protected]. No refunds will be given if cancellation notice is received later than three (3) business days before the course begins, or for no-show registrants.

This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.