Tax-exempt status is the most valuable asset of any nonprofit. Correct and complete filings of IRS Form 990 are important in order to protect the exemption as well as to showcase the organization favorably on a public document that may affect fundraising activity. Form 990-T is filed to report unrelated business income. During this session, members of Hood & Strong’s tax-exempt organizations tax practice will discuss the most common errors made on the forms, and provide recommendations based on their practical experience in the arena. The session will also include a brief overview of how Tax Cuts and Jobs Act effects exempt organizations.
About the presenters:
Maga Kisriev, CPA, is a tax and advisory partner for exempt organizations in Hood & Strong's San Francisco office. Maga has more than 12 years of public accounting experience, including managing exempt clients such as the Humane Society International, Carnegie Endowment for International Peace, and the Center for Strategic and International Studies.
Jacob Yau, CPA, is a tax manager with Hood & Strong in San Francisco, coordinating tax engagements and advising clients such as public charities, private foundations, schools, and social clubs.