Listen to the Podcast about
the redesigned Form 990
Provided by Price Waterhouse Cooper
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This presentation features Howard Schoenfeld and Laura Parillo of PWC's Washington/National Tax Services Exempt Organizations Practice Group. Howard and Laura highlight some of the key features of the redesigned form and outline the important steps nonprofit organizations should be taking now to prepare for the new form.
The new form and its schedules, as well as a lot of other information about the changes to the 990 is available at: www.irs.gov/eo.
FORM 990 REDESIGN
Getting a Head Start
"For many nonprofits, the new 990 represents a triple threat," says Kristen Conte, Meyer Foundation Vice President for Finance and Administration. "It will take more time to prepare, it requires you to provide the IRS with more information about your operations and governance structure, and it may raise costs of accountants and others who help you with the form."
Having systems and procedures in place now will ensure that you are prepared next spring when you’ll be filling the form out for the first time. We've compiled some resources that we think will be helpful for you in understanding the new 990.
Learning Opportunities
Wednesday, November 5, 2008
Webinar: Preparing for the New 990
Foundation Center
This free, interactive webinar with an IRS official will go over the new elements of the Form 990. Participants will be able to ask questions and will learn about the new ways that nonprofits will report on many parts of their operations, including their governance and compensation practice.
http://www.meyerfoundation.org/resources/2235
Thursday, December 11, 2008
Preparing for the New 990
Maryland Nonprofits
This full-day Maryland Nonprofits course will have a special emphasis on what nonprofit organizations have to do now in order to ensure that the new Form 990 can be completed both accurately and efficiently.
http://www.meyerfoundation.org/resources/2231
Resources
IRS Resources
Includes FAQs and a simplified overview of the new form:
http://ftp.irs.gov/charities/article/0,,id=176613,00.html
Maryland Nonprofits
How to answer the new question 7B of the Form 990:
http://www.marylandnonprofits.org/html/support/Form990.asp
Idealist.org
http://www.idealist.org/if/i/en/faq/57-95/62-42
Independent Sector.org
Includes a telecast and FAQs:
http://www.independentsector.org/programs/gr/Draft_Form_990.htm
About.com
http://taxes.about.com/od/nonprofits/a/Form990.htm
Stayexempt.org (An IRS-run website for nonprofits)
Online training of how to fill out the new form:
http://www.stayexempt.org/course4purple/index.html
Wallstreet Journal
Article Explaining Background of Changes
http://online.wsj.com/article/SB121201451612427355.html?mod=todays_us_personal_journal