Non Profit Financial Class

As part of our ongoing desire to support the Austin nonprofit community, The Austin Chapter of the Texas Society of Certified Public Accountants is offering a free seminar for nonprofit staff and volunteers. This event is strictly a community service – there is nothing for sale, and no businesses will be promoted at the event.

RSVP via email:  lmedrano@tscpa.net

The seminar will focus on financial essentials for nonprofit organizations:

General Financial Governance for NPOs: Ever wonder what you’re getting into if you agree to serve on a non-profit board? Did you know that as a board member, you have a responsibility for the financial management of your nonprofit, even if you do not have a financial background? Do you wonder how to improve the financial practices at your organization when resources are limited? We will cover the fiduciary duties of a board member, the tax obligations of a not-for-profit organization, the essential insurance coverage nonprofits need, basics about budgeting, how to read financial statements, and key financial measurements.

Internal Control and Non-Profit Organizations: Your nonprofit organization needs to protect its cash, investments, pledges, confidential information, property, equipment, reputation, clients, volunteers and staff at a time when fraud, identity theft, and information breaches are all too common. Good internal controls are the key to safeguarding your nonprofit organization. In our internal control class, we’ll go over the essentials of a good risk management plan – identifying the risks specific to your organization, creating a culture of integrity and implementing cost-effective internal controls. We have practical suggestions for controls, even for small nonprofit organizations.

Form 990 and Other Tax Issues for NPOs: The tax return for non-profits can be challenging whether you’re preparing it in-house or just trying to understand what it all means. What does your Form 990 say about your organization? Many donors use the information to determine whether your organization is worth supporting. Learn why the IRS is asking certain questions on the 990 and how to comply with the rules for maintaining exempt status. We’ll also discuss some potentially taxable activities and what you can do to minimize the tax impact.