The New IRS Form 990: What Does It Mean For Your ... - Venable LLP

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Jeffrey S. Tenenbaum Partner 202.344.8138 jstenenbaum@venable.com Practice Focus Jeffrey Tenenbaum is a partner with the Association Practice Group and is one of the nation’s leading association and nonprofit attorneys. He is also an accomplished and respected author, lecturer and commentator on nonprofit legal matters. Based in the firm’s Washington, D.C. office, Mr. Tenenbaum concentrates his practice on association and nonprofit law. He also heads up the firm’s Credit Counseling and Debt Settlement Industry Practice Group. Mr. Tenenbaum counsels his 300+ clients on the broad array of legal issues affecting trade and professional associations and other nonprofit groups, and regularly represents clients before Congress, federal and state regulatory agencies, and in connection with governmental investigations, enforcement actions, and other proceedings. In 2006, Mr. Tenenbaum was presented with the American Bar Association's Outstanding Nonprofit Lawyer of the Year award, and in 2004, he was an inaugural recipient of the Washington Business Journal’s Top Washington Lawyers award. Mr. Tenenbaum was recognized in the 2005-2006 edition of Who’s Who in American Law, and received the distinguished Chairman’s Award in 1997 and again in 2004 from the Greater Washington Society of Association Executives and The Center for Association Leadership, for his leadership efforts in the association community. He serves as special counsel to ASAE & The Center for Association Leadership. Client Benefits Activities Mr. Tenenbaum devotes his full time and attention to the legal issues facing trade and professional associations and other nonprofit organizations, as well as credit counseling agencies and debt settlement companies. His exclusive concentration and his broad-based experience in this unique legal discipline enable Mr. Tenenbaum to provide his clients with pragmatic solutions to their legal challenges on a responsive and cost-efficient basis. Mr. Tenenbaum is an active participant in the association community who currently serves on the Editorial Advisory Board of ASAE’s Association Law & Policy legal journal and the ASAE Public Policy Committee. He previously served as Chairman of the AL&P Editorial Advisory Board and has served on the ASAE Legal Section Council, the ASAE Association Management Company Accreditation Commission, the GWSAE WWW.VENABLE.COM
Foundation Board of Trustees, the GWSAE Government and Public Affairs Advisory Council, the Federal City Club Foundation Board of Directors, and the Editorial Advisory Board of Aspen’s Nonprofit Tax & Financial Strategies. Articles/ Speeches Mr. Tenenbaum is the author of the popular book, Association Tax Compliance Guide, published by the American Society of Association Executives, and is a contributor to numerous ASAE & The Center books, including Professional Practices in Association Management, Association Law Compendium, Essentials of the Profession Learning System, Generating and Managing Nondues Revenue in Associations, and several Information Background Kits. In addition, he is a frequent lecturer and author for ASAE & The Center and most of the major association industry organizations, conducting over 25 speaking presentations each year – including many with top IRS, FTC, DOJ, FCC, and other governmental officials – and having written approximately 200 articles on nonprofit legal topics. He served on the faculty of the ASAE Virtual Law School, and is a regular commentator on nonprofit issues for The Washington Post, The Washington Times, Washington Business Journal, Legal Times, The New York Sun, Association Trends, and other periodicals. Distinctions J.D., Catholic University of America Columbus School of Law, 1996 B.A., Political Science, University of Pennsylvania, 1990 Recipient, American Bar Association Outstanding Nonprofit Lawyer of the Year Award, 2006 Recipient, Washington Business Journal Top Washington Lawyers Award, 2004 Recipient, The Center for Association Leadership Chairman's Award, 2004 Recipient, GWSAE Chairman’s Award, 1997 Legal Section Manager / Government Affairs Issues Analyst, ASAE, 1993-95 Legislative Assistant, U.S. House of Representatives, 1990-93 AV Peer-Review Rated by Martindale-Hubbell Bar Admissions: District of Columbia WWW.VENABLE.COM
Page 1 and 2: VALUE ADDED, VALUES DRIVEN ® . The
Page 3 and 4: Articles The 2008 Form 990: Putting
Page 5 and 6: earned and the year paid — has be
Page 7 and 8: Articles Association Trends Telling
Page 9 and 10: OLD AND NEW IRS FORM 990 - COMPARIS
Page 11 and 12: "OLD" FORM 990 "NEW" FORM 990 Whose
Page 13 and 14: Employee Benefits and Executive Com
Page 15 and 16: Employee Benefits Alert AUGUST 14,
Page 17 and 18: Employee Benefits Alert JULY 24, 20
Page 19: experience brings broad perspective
Page 23 and 24: Patricia M. McDermott Partner 202.3
Page 25 and 26: George E. Constantine Partner 202.3
Page 27 and 28: ASSOCIATION & NONPROFIT PRACTICE GR
Page 29 and 30: OUR EXPERIENCE Venable brings to ea
Page 31 and 32: Below are highlights of some of the
Page 33 and 34: development of a new professional c
Page 35 and 36: egulatory practice is filled with s
Page 37 and 38: CONCLUSION Widely regarded as havin
Page 39 and 40: modifying them to conform to change
Page 41 and 42: that our clients achieve their busi
Page 43 and 44: efficient and practical manner. Our
Page 45 and 46: 1 The New IRS Form 990: What Does I
Page 47 and 48: 3 THE CORE FORM 990 Thora Johnson V
Page 49 and 50: 5 THE SUMMARY ‣ New to the Form 9
Page 51 and 52: 7 SNAPSHOT OF REVENUE ‣ Total con
Page 53 and 54: 9 WHAT’S NOT THERE (AND WAS IN TH
Page 55 and 56: 11 STATEMENT OF PROGRAM SERVICES
Page 57 and 58: 13 OTHER IRS FILINGS AND TAX COMPLI
Page 59 and 60: 15 QUESTIONS REGARDING BOARD AND MA
Page 61 and 62: 17 AND MORE QUESTIONS REGARDING BOA
Page 63 and 64: 19 MORE QUESTIONS REGARDING POLICIE
Page 65 and 66: 21 DISCLOSURE ‣ Make its Form 102
Page 67 and 68: 23 REMAINING SECTIONS OF CORE FORM
Page 69 and 70: 25 FORM 990 REPORTING: EXECUTIVE CO
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27 EXECUTIVE COMPENSATION - FORM 99
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29 COMPENSATION REPORTING - PURPOSE
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31 2008 FORM - GENERAL STRUCTURE FO
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33 CHANGES MADE BY DISCUSSION DRAFT
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35 THRESHOLDS FOR SCHEDULE J REPORT
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37 ADDITIONAL SCHEDULE J QUESTIONS
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39 PREPARING FOR IMPLEMENTATION ‣
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41 OVERVIEW OF THE SCHEDULES ‣ 16
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43 SCHEDULE A ‣ Change now allows
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45 SCHEDULE B ‣ No changes - requ
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47 Schedule D ‣ Supplemental Fina
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49 Schedule F ‣ Activities outsid
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51 Schedule F ‣ Requires grantmak
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53 Schedule G ‣ Describe relation
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55 Schedule I ‣ Grants and Other
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57 Schedule K ‣ Supplemental Info
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59 Schedule M ‣ Non-Cash Contribu
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61 Schedule N ‣ Liquidation, Term
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63 Schedule R ‣ Related Organizat
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65 Summary ‣ Significant new info
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Form 990 (2008) Part III Statement
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Form 990 (2008) Part IV 28 a 32 33
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Form 990 (2008) Part VI Governance,
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Form 990 (2008) Part VII Continued
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Form 990 (2008) Page 10 Part IX Sta
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SCHEDULE A (Form 990 or 990-EZ) Dep
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Schedule A (Form 990 or 990-EZ) 200
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Schedule B (Form 990, 990-EZ, or 99
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SCHEDULE C (Form 990 or 990-EZ) Dep
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Schedule C (Form 990 or 990-EZ) 200
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SCHEDULE D (Form 990) Department of
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Schedule D (Form 990) 2008 Part VII
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Schedule D (Form 990) 2008 Part XIV
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Schedule F (Form 990) Department of
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Schedule F (Form 990) 2008 Page 3 P
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SCHEDULE F-1 (Form 990) Department
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Schedule F-1 (Form 990) 2008 Page 3
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Schedule G (Form 990 or 990-EZ) 200
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SCHEDULE H (Form 990) Department of
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Schedule H (Form 990) 2008 Part VIV
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SCHEDULE I (Form 990) Department of
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SCHEDULE I-1 (Form 990) Department
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SCHEDULE J (Form 990) Department of
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Schedule J (Form 990) 2008 Page 3 P
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SCHEDULE J-2 (Form 990) Department
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Schedule K (Form 990) 2008 Page 2 P
Page 171 and 172:
SCHEDULE M (Form 990) Department of
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SCHEDULE N (Form 990) Department of
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Schedule N (Form 990) 2008 Part III
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Schedule N-1 (Form 990) 2008 Part I
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Schedule O (Form 990) 2008 Name of
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Schedule R (Form 990) 2008 Page 2 P
Page 183 and 184:
Schedule R (Form 990) 2008 Page 4 P
Page 185 and 186:
Schedule R-1 (Form 990) 2008 Page 2
Page 187 and 188:
Schedule R-1 (Form 990) 2008 Part I
Page 189:
Schedule R-1 (Form 990) 2008 Part V
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