CPATrainingCenter.com offers CPA exams, accounting degree training, CPE, and professional development for accountants and CPAs
Course/Product Description
Title:

Making The Switch: Converting Your Nonprofit Into A For-Profit

SKU:WC-1022814
Date / Time: Recorded
Format: Webinar
Order:Qty:
Description:

Nonprofit organizations operate under intense public scrutiny. No activity is subject to more scrutiny than a nonprofit organization's conversion into a for-profit organization.

Conversions must be carefully approached and structured with an eye towards how the IRS, Attorney General and/or the public at large will perceive them. There is little room for error.

This webinar delivers a crash course for persons tasked with advising a nonprofit whether and how to convert into a for-profit. We will walk through the relevant legal backdrop, various methods for converting, as well as common pitfalls and traps for the unwary.

Failure to properly approach and consummate such conversions can result in significant liabilities including, but not limited to, retroactive revocation of exempt status, expensive Attorney General and/or IRS investigations and excise taxes against the fiduciaries and individuals approving the conversions.

This course will ensure nonprofits and their advisors approach conversions with their eyes wide open and are able to utilize various prophylactic measures to protect them.

Agenda

The Landscape

  • "Definition of Nonprofit": A Common Misnomer
  • "Tax-Exempt" (Presuming Pursuant to 501(C)(3) of the Internal Revenue Code)
  • Donor Restricted Assets
  • Who's Watching?
Why "Convert"?
  • Investors
  • Excessive Commercial Activity (Unrelated Business Income)
  • Succession Planning
  • Onerous Operational Rules and Governance Scrutiny (Too Much Transparency?)
How Do You Convert?
  • State and Federal Law Components That Need to Be Harmonized
  • State Law
  • Federal Law
  • Conflict Between State and Federal Law
Common Pitfalls
  • No Legitimate Reason to Explore in Furtherance of the Nonprofit's Purpose
  • Inadequate Documentation of Prudent and Arms-Length Due Diligence and Deliberation
  • Insignificant Due Diligence
  • Ignoring Tax Ramifications (Not Just Income Tax)
  • "Counsel to the Deal"
  • The "Goodwill" and "Public Perception" Factor
  • Termination of Private Foundation Status
Alternatives?
About The Presenters

John Paul Callahan
  • Associate in the office of Reid and Riege, P.C. and is a member of the firm’s Business Law and Nonprofit Organizations Practice areas
  • Practice focuses on general corporate and nonprofit governance, preparing contracts, business formation, and business transactions including mergers and acquisitions
  • While in law school, he provided pro bono legal assistance to small businesses on transactional matters typical in the start-up phase and ongoing management of their enterprises
  • Member of the Connecticut Bar Association
  • J.D. degree, magna cum laude, Western New England University School of Law; B.S. degree, summa cum laude, Western New England University
Edward B. Spinella
  • Partner in the office Reid and Riege, P.C. and is a member of the firm’s Business Law and Nonprofit Organizations Practice areas
  • Practice focuses on providing general counsel services to tax-exempt organizations and closely held businesses
  • Has cultivated a familiarity with the culture of tax-exempt organizations by regularly speaking to nonprofit executives, volunteer fiduciaries and advisors through various educational forums
  • Has been an actively engaged member of the Connecticut Bar Association’s LLC Act Subcommittee and its anticipated overhaul of the Connecticut Limited Liability Company Act
  • Member of the American Bar Association and the Connecticut Bar Association
  • J.D. degree, with honors, University of Connecticut School of Law; B.A. degree, summa cum laude, College of the Holy Cross


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
Order:Qty:
Share This: Share on Facebook


Share on Twitter


Share on Google+


Sales &Use Tax Workshop
Sales &Use Tax Workshop

Comprehensive Income Tax Course with Career Package
Comprehensive Income Tax Course with Career Package

Project Management Workshop
Project Management Workshop

Fundamentals Of Form W-2 &Form W-4 Processing
Fundamentals Of Form W-2 &Form W-4 Processing

Tax Court Exam Homestudy Program
Tax Court Exam Homestudy Program

Fundamentals Of Internal Auditing
Fundamentals Of Internal Auditing

Internal Audit School
Internal Audit School

Auditing Applications Against SDLC And Coding Standards
Auditing Applications Against SDLC And Coding Standards

Auditing A Cybersecurity Program
Auditing A Cybersecurity Program

Audit Report Writing Boot Camp
Audit Report Writing Boot Camp

Advanced Auditing For In-Charge Auditors
Advanced Auditing For In-Charge Auditors

Series 6 - Live &OnDemand Online Course
Series 6 - Live &OnDemand Online Course

Peachtree Seminars
Peachtree Seminars

How To Use QuickBooks
How To Use QuickBooks

Certified Payroll Administrator
Certified Payroll Administrator

I-9 Administrator Training - Top 10 Mistakes To Avoid In Completing, Storing, And Destroying Form I-9
I-9 Administrator Training - Top 10 Mistakes To Avoid In Completing, Storing, And Destroying Form I-9

Google+CPATrainingCenter.com. 5755 North Point Parkway, Suite 228 | Alpharetta, GA 30022 | 770-410-9941 | support@CPATrainingCenter.com
Copyright CPATrainingCenter.com 2017 | Web Site Development by OTAU
Facebook