Protect your nonprofit by gaining a better understanding of the potential threats in executive compensation packages in light of recent legislation.
With the recent passage of H.R. 1 Tax Cuts and Jobs Act, it is essential that not-for-profits review their internal procedures and documentation in order to comply and avoid substantial penalties enacted by this legislation. The IRS and state attorney generals have increasingly questioned the compensation packages of many tax-exempt entities in light of their special tax status. Are these organizations using public assets in the best possible way to fulfill the charitable missions? This topic helps you understand the basic concepts and to establish policies and procedures to identify the applicable individuals subject to these rules and regulations. The topic also explains the method required for analyzing key components inherit in a compensation study to create a rebuttable presumption of reasonableness. Failing to have a proper compensation study under the safe harbor rules under Section 4958 of the Internal Revenue Code will subject to organization and applicable individuals substantial penalties. It has often led to loss of goodwill among donors and constituents as well as increased scrutiny from IRS and state officials.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Intermediate Sanctions Overview
- History
- Current State of Events
- Basic Principles
How to Protect Your Executives and Board Members From Personal Liability
- Policies and Procedures
- Rebuttable Presumption
- Legal Issues and Penalties
Form 990 Disclosures, Criteria and Case Studies
- Form 990 Disclosures
- Criteria and Considerations
- IRS and Actual Case Studies
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More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on March 16, 2020.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Joe Giso, CPA, MST
Johnson O'Connor Feron & Carucci LLP
- Partner at Johnson O'Connor Feron & Carucci LLP in Wakefield, Massachusetts
- Member of Johnson O'Connor Feron & Carucci LLP's NFP Tax Group and the firm’s not-for-profit practice
- Former managing director at CBIZ Tofias in Boston, MA
- Former head of CBIZ, Inc. National NFP Tax Technical Community
- Former senior tax director in the Boston office of RSM US, LLP (McGladrey, LLP)
- Provides tax consulting services dedicated to improving the accountability and efficiency of tax-exempt organizations and consulting in intermediate sanctions, lobbying, unrelated business income, website reviews, charitable solicitations and foreign reporting requirements, board governance, and state issues such as real estate and local tax exemptions
- Consulted: University of New England; Museum of Fine Arts; Museum of Science; Lowell General Hospital; Brooks School; Boston Athenaeum; Facing History Ourselves, Inc.; Lasell College; Lesley University; Loomis Communities, Inc.; American Public Television; Massachusetts Society for the Prevention of Cruelty to Animals; St. Joseph's College of Maine; National Fire Protection Association; Pathfinder International; The Home for Little Wanderers; Buckingham, Browns & Nichols School Winsor School; and New England Aquarium Corporation
- Professional affiliations include the AICPA and the Massachusetts Society of CPAs
- Certified public accountant
- M.S.T. degree, Bentley College; B.A. degree in accounting, Suffolk University
- Can be contacted at 781-914-3329 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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