THE EXECUTIVES’
ROLE IN NOT-FOR-PROFIT FINANCIAL
MANAGEMENT
The Chief Staff Executive of a not-for-profit is expected to
understand the business environment of the association and effectively ensure the
rules and regulations of operating the organization are followed, assets are protected and tax-exempt status
is maintained.
If you are an executive, and you feel your management
ability is affected by a lack of knowledge in these important areas, this seminar
is for you.
Participants will receive a valuable handout and benefit
from in-depth explanations of the following critical areas:
·
Setting up internal controls to
avoid fraud and embezzlement
·
Understanding what records are open
for public inspection, member inspection and Board inspection
·
The importance of understanding
Restricted Fund Transactions
·
Avoiding and handling IRS Audits
·
Understanding the function of the
independent CPA firm and how to choose the right one for your organization,
including:
- CPA services
- Audit
opinions
- The
Management Letter
·
The basics of Unrelated Business
Income Tax (UBIT)
·
The basics of The Lobby Tax,
including:
- The
Optional Proxy Tax
- Calculation
non-deductible dues amounts due to lobbying
·
Current IRS issues
·
The importance of Board-approved polices
and procedures
·
When to set up Foundations and wholly
owned taxable subsidiaries
·
Understanding Intermediate Sanctions
and liabilities
·
Exploring potential personal
liabilities
·
The importance of an insurance
committee and an internal audit committee to management