Not-for-Profit Certificate I – Tax Compliance

Not-for-Profit –This series of courses is available as an individual track or as a part of the full Not-for Profit Certificate I Program.

Not-for-profit tax essentials

You’ll gain foundational knowledge of tax and compliance requirements that apply to tax-exempt, not-for-profit entities (NFPs) by covering topics such as:

• activities that can jeopardize tax-exempt status,
• unrelated business income taxes,
• IRS Form 990,
• private foundations and much more.

New dynamic learning opportunities

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

Spotlight your accomplishment 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:

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

• Not-for-Profit Certificate I – 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 Certificate I – 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 Certificate I – 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 tax and compliance requirements that apply to tax-exempt, not-for-profit entities.
• Experienced accountants who are new to the not-for-profit industry or are in need of a refresher on tax and compliance requirements that apply to tax-exempt, not-for-profit entities.

Key Topics

• Meaning of exempt purpose
• Related vs. unrelated activities
• Definition of unrelated business income
• Consequences of excess unrelated business income
• Exempt v. non-exempt income
• Statutory exemptions and inclusions
• IRS Filing Requirements
• Private foundations

Learning Outcomes

• Differentiate between and recognize the basic compliance requirements of various types of tax-exempt organizations and recall the activities that a tax-exempt organization should limit to protect its tax-exempt status.
• Identify the IRS filing requirements for tax exemption organizations.
• Recall the structure and core components of Form 990 and related schedules and identify common adjustments needed to reconcile Form 990 to financial statements prepared in accordance with Generally Accepted Accounting Principles (GAAP).
• Recall when a tax-exempt organization may be subject to unrelated business income taxes (UBIT) and identify the applicable filing requirements.
• Recognize the unique compliance requirements and restrictions related to private foundations.