Not-for-Profit Accounting, Tax and Compliance Essentials

This course can be purchased individually or as a part of the comprehensive Not-for-Profit Certificate I Program.

Introduction to not-for-profit entities

The not-for-profit (NFP) sector is one of the fastest growing sectors in our economy. You’ll get an overview of the unique aspects of accounting, financial reporting, governance, and tax compliance issues that apply to NFPs. Additionally, you’ll identify some of the significant differences between for-profit entities and NFPs.

New dynamic learning opportunities

You can complete learning anytime, anywhere with this convenient format that allows you to take a closer look at tax, accounting, and compliance issues using real-world scenarios.

Spotlight your accomplishments online

You can earn a digital badge by successfully completing the comprehensive Not-for-Profit Certificate I Program or all four of the Not-for-Profit Certificate I tracks:

• Introduction to Not-for-Profit Entitiesprovides an overview of the unique aspects of accounting, financial reporting, governance, and tax compliance issues that apply to NFPs.

• Not-for-Profit Accounting and Financial Reporting provides an overview of accounting for contributions, endowments, split-interest agreements, fair value measurement, net asset classification, and financial statement presentation.

• Not-for-Profit Tax Compliance provides an overview of tax and compliance requirements that apply to tax-exempt, not-for-profit entities (NFPs) and covers topics such as activities that can jeopardize tax-exempt status, unrelated business income taxes, IRS Form 990, private foundations and much more.

• Not-for-Profit Governance and Assurance provides a foundation in board governance, auditing, and financial oversight of NFPs with a focus on governance practices, risk management, internal control, and audit planning and preparation.

You can showcase the digital badge anywhere on the web — including your LinkedIn, your company's website, or your online resume.

Your certificate and digital badge information will be sent to you once you've completed the program.

Who Will Benefit

• New accountants interested in the basics of not-for-profit accounting, financial reporting, governance, and tax issues.
• Experienced accountants that are new to the not-for-profit industry or are in need of a refresher on the basics of not-for-profit accounting, financial reporting, governance, and tax issues.

Key Topics

• The role of CPAs and finance professionals as trusted advisors working in and with NFP organizations
• An overview of NFP reporting standards
• Compliance requirements to obtain and maintain tax-exempt status
• Basic financial statement presentation
• Accounting terminology unique to NFPs

Learning Outcomes

• Recognize the basic identity of the NFP sector.
• Recall organizational aspects of NFPs.
• Distinguish differences in the organizational structures of for-profit entities and NFPs.
• Identify the differences between for-profit entities and NFPs.
• Recognize NFP-specific terminology.
• Indicate the basic financial statement presentation differences between for-profit entities and NFPs.