As a non-profit organization, you face different types of risks than for-profit companies. Board members and financial executives are often surprised at the extent of the tax exposures actually faced by tax-exempt organizations.
Non-profit organizations are open to many tax and reputational risks, as Form 990 tax filing is open for the world to see. Tax matters that may affect your organization include unrelated business activities, intermediate sanctions, donor and fundraising issues. Other topics such as fringe benefits, nonqualified deferred compensation arrangements, and joint ventures take on new significance from the perspective of your non-profit organization’s tax function. To make matters even more challenging, the IRS has also announced it is increasing the use of data queries of tax filings for selection of tax-exempt organizations for examination.
Watch our webinar to learn more about: the top 10 U.S. Federal issues facing non-profit organizations, our predictions for IRS audit selection queries, best practices for your task risk function and how to identify red flags and minimize tax/reputational risks with a diagnostic check-up.
Laura Kenney, CPA
As a principal in BlumShapiro’s Tax Department, Laura has over thirty years of experience providing tax compliance and consulting services for public charities, higher educational institutions, private schools, cultural institutions, foundations, associations, healthcare and other non-profit organizations.
Laura provides tax compliance and tax consulting services to tax-exempt clients throughout New England, advising clients on a full range of tax matters including fundraising activities, charitable contribution issues, compensation, employment tax, governance, policies, disclosures, quality reporting and tax compliance.