Financial Statements & Tax Issues for Boards of Directors & Management

As a non-profit Board member, fiscal responsibility may seem like just another “task” associated with the many duties you accept when you agree to serve. What many volunteers fail to accept is the true seriousness of this “task” and what is really associated with the many aspects of reviewing finances.  Don’t let the subject matter force you into hitting snooze just yet – we promise to make this an interesting and worthwhile program. You are guaranteed to walk away with increased knowledge that will improve your comfort level and effectiveness in the financial oversight process.
 

Through a format of lecture blended with interactive group activity, this course includes:

•Financial Statements

- How to read and analyze

- Basis of accounting – advantages of each

- Required statements 

•Services of CPA

- Types of services and related reports

- Materiality issues

- Audits

- Requirement for audit

- Audit Committees/Board of Directors responsibilities

- Fraud 

•Tax Issues

- Filing requirements

- Unrelated Business Taxable income

- Best practices

- Types of 501(c) organizations