Finding & Reporting Form 990 Filers' Related Organizations (C49233)


Cancellation Policy

Please note that this webinar Is from a third party vendor, CPA Crossings. We strongly recommend registering no later than one-hour before the webinar begins. Please contact CPA Crossings webinar hotline if you do Not receive your webinar invitation via email within five minutes after registering:  877-370-2220 ext. 1. Thank you.

Date(s):

04/19/2021

Registration Open:

12:00 AM - 10:30 AM

Time:

10:30 AM - 12:30 PM

Facility:

 Online

Meeting Type:

Webinars

CPE Credit:

2.00

Field(s) Of Study:

Taxation (2.00)

Level of Knowledge:

Intermediate

Price:

Member: $79.00
Nonmember: $99.00

Individual Discounts:

Not Available

Overview

After attending this presentation you will be able to...

  • Identify the principles by which control vests when determining parent-subsidiary, subsidiary-parent or brother-sister status between the filer and another not-for-profit entity
  • Identify how control vests over an entity that is a stock corporation
  • Appreciate the nuances of looking for "commonly controlled" related organizations (i.e., sibling organizations)
  • Apply diagrams of the most-common indirect control scenarios 
  • Understand what information is disclosed when reporting as a related organization: a not-for-profit who is tax-exempt in Schedule R, Part II; a corporation or trust in Schedule R, Part V, or an entity taxed as a partnership in Schedule R, Part III
  • Recognize the conditions in which transactions with a related organization will need have dollar details disclosed in Schedule R, Part V, line 2

Highlights

The major topics that will be covered in this course include:

  • Exploring the reach of "parent-subsidiary" and "sibling" status when the party who is the subject of "control" is a nonprofit/nonstock entity: finding that the filer is "controlled" or that a third-party nonprofit is a related organization of the filer due to who it is "controlled" by
  • Understanding what is considered "control" when a party who would be the related organization is a stock corporation, partnership and/or LLC taxed as a partnership, or trust
  • The ramifications of applying the former in cases of related organization status vesting via indirect "control"  
  • The two automatic status categories of related organizations:  supporting organization connections (one entity being a 501(c)(3) with 509(a)(3) sub-classification from connection to another entity) and VEBA-unique categories 
  • Disclosures required on Schedule R's Parts II-V once the presence of one or more related organizations is ascertained
  • Part V additional disclosures when a filer has a related organization who is a "controlled entity" (this via 512(b)(13)'s UBIT-reach in the case of certain revenues from controlled organizations)
  • Review of the two 'other' Parts of Schedule R: Part I on disregarded entities, and Part VI on unrelated partnerships

Speaker(s)

Prerequisites

Helpful to have some familiarity with Core Form Part VII-A's reporting of compensation paid by related organizations