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National PTA’s Form 990-EZ Stephen J. Kelin, CPA, JD March 6, 2012.

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Presentation on theme: "National PTA’s Form 990-EZ Stephen J. Kelin, CPA, JD March 6, 2012."— Presentation transcript:

1 National PTA’s Form 990-EZ Stephen J. Kelin, CPA, JD March 6, 2012

2 National PTA’s Form 990-EZ 2012 National PTA Conference Stephen J. Kelin, CPA, JD 2 Co-leads the firm’s consulting and tax compliance services for more than 600 nonprofit clients Monitors changing statutory and regulatory environments Nonprofit tax principal at Gelman, Rosenberg & Freedman CPAs 35+ years of experience providing tax services to tax-exempt organizations, private foundations, colleges, healthcare organizations, museums and other large nonprofit institutions

3 National PTA’s Form 990-EZ 2012 National PTA Conference Overview Filing requirements: Form 990-N Receipts “normally” < $50,000 Form 990-EZ Gross receipts < $200,000; and Total assets < $500,000 Form 990 3

4 National PTA’s Form 990-EZ 2012 National PTA Conference 990–EZ Schedules 4 A – Public Support Test B – Contributors C – Political Campaign and Lobbying Activities E – Private Schools G – Fundraising/Gaming Activities L – Transactions with Interested Persons N – Liquidation, Termination, Dissolution O – Supplemental Information

5 National PTA’s Form 990-EZ 2012 National PTA Conference Items of Note – Form 990-EZ Box B Box F – Group exemption number Box G – Accounting method Box H – No single donor amount > threshold Box K – Not eligible if: Sponsor of DAFs – See Line 44a Controlling organization – See Line 45a/b 5

6 National PTA’s Form 990-EZ 2012 National PTA Conference Items of Note – Form 990-EZ Line 6b – Fundraising – Schedule G Line 10 – Grants Line 12 – Salary, other comp, benefits Line 19 – Net assets at beginning of year: Must agree with net assets at the end of year on prior return Line 20 – Other changes in net assets 6

7 National PTA’s Form 990-EZ 2012 National PTA Conference Items of Note – Form 990-EZ Part III – Lines – Program service accomplishments Allocation of expenses to “Program” rather than “Administrative” or “Fundraising” Narrative that tells your story as effectively as possible 7

8 National PTA’s Form 990-EZ 2012 National PTA Conference Items of Note – Form 990-EZ Part IV, Line 32 – Officers, Directors, Trustees and Key Employees Address can be care of the organization Definitions for key employees includes $150,000 threshold W-2 reporting irrespective of filing year-end Higher of Box 1 or Box 5 Column (d) and (e) for benefits and other compensation 8

9 National PTA’s Form 990-EZ 2012 National PTA Conference Items of Note – Form 990-EZ Line 33 – New activities Line 34 – Significant changes to governing documents Line 35 – Unrelated Business Income Line 36 – Liquidation, Dissolution, Termination Schedule N Line 38 – Loans to/from “Interested Person” at year-end Schedule L 9

10 National PTA’s Form 990-EZ 2012 National PTA Conference Items of Note – Form 990-EZ Line 41 – States where copy of 990 filed Line 42 – Foreign bank accounts Treasury filings for entity and possibly officers Line 46 – Political campaign activities Line 47 – Lobbying Line 49 – Transfers to exempt non- charitable related entity 10

11 National PTA’s Form 990-EZ 2012 National PTA Conference Items of Note – Form 990-EZ Line 50 – HCE reporting Over $100K and not already on Part IV Line 51 – “Independent Contractors” > $100K for services Line 52 – Schedule A 11

12 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule A Part I “Public Charity” vs. “Private Foundation” Broad public support Large number of small donors rather than limited number of large donors Box 7 for most PTA affiliates? 12

13 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule A Part II For use by Box 7 entities 5-year test Lines 14, 15 calculation Lines 16a, 16b, 17a, 17b 13

14 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule B “General Rule” ($5,000) vs. “Special Rule” Part II Column (b) and (c) not public information Redacted by IRS Public Disclosure copy in affiliate office Column (d) Non-cash and Part III Part III – Description, fair market value, date 14

15 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule C “Political Intervention” No threshold – Loss of exemption! Excise tax Lobbying Statutory rule – Not a substantial part Loss of exemption 501(h) election Excise tax Loss of exemption 15

16 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule G “Fundraising Activities” Part I – N/A for 990-EZ filers Part II – Fundraising events Two largest events; all others Line 1 vs. Line 2 Part III – Gaming 16

17 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule L Part I – Excess benefit transactions Part II – Loans Outstanding loan at year-end “Interested Person” Officers, directors, trustees and key employees 17

18 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule N Liquidation, Termination, Dissolution or Significant Disposition of Assets Line 2 – Successor entities Significant disposition 25% of assets, based upon fair market value 18

19 National PTA’s Form 990-EZ 2012 National PTA Conference Schedule O Required disclosures Voluntary disclosures 19

20 National PTA’s Form 990-EZ 2012 National PTA Conference Other Items 2011 Form 990-EZ – What’s New Forms; instructions $2.25 National PTA dues Should be balance sheet transaction to affiliates No reporting as income/expense 20

21 Stephen J. Kelin, CPA, JD Telephone: (301) 951 – 9090 Website: Connect with Us 4550 Montgomery Avenue, Suite 650N Bethesda, MD 20814


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