Obtaining and Sustaining a Tax-Exempt Status

Most nonprofit organizations are required to present expenses in the statement of functional expenses for reporting purposes. This includes the functional allocation of expenses between program, administrative and fundraising. On the surface this appears to be a relatively simple requirement, but proves to be a challenge faced by the industry. Understanding the GAAP and IRS Form 990 requirements, the current focus of standard-setters, challenges faced within the industry as well as the allocation methodologies available and best practices covered within this live webinar is an important first step in creating effective statements of functional expenses for all organizations.

Learning Objectives

- You will be able to review historical data on inaccurate reporting by NFP's.

- You will be able to discuss industry issues.

- You will be able to identify allocation methodologies.

- You will be able to explain direct vs. indirect costs.