IRS Releases Draft Instructions for 2008 Form 990
The Internal Revenue Service is seeking public comments on the draft instructions
to the 2008 Form 990, the annual return most tax-exempt organizations must use to
report information about their operations. The instructions are for the redesigned
Form 990 that organizations will file for their 2008 tax year (returns filed in
2009), which was released in final form in December 2007.
The IRS is seeking comments from the public on the 2008 Form 990 instructions in
an effort to make sure the final instructions address the needs of the tax-exempt
community. The comment period is open until June 1, 2008. [
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Mark Your Calendar!
Plan to attend our next Quarterly Nonprofit Roundtable Tuesday, Aug. 12. SVA’s Shawn
Miller and Douglas Berry will lead the discussion about UBIT? You Bet! (What is
UBIT? Unrelated business income tax.)
Roundtable May 13: Learn How to Build Effective Boards at Board Governance 101
by Kirsten Houghton, CPA
Increasing regulatory scrutiny of nonprofit organizations is the topic of the next
SVA Quarterly Nonprofit Roundtable, Tuesday, May 13.
Inspired by tales of fundraising fraud, conflicts of interest, bloated compensation
and careless accounting, state legislators, the Internal Revenue Service and Congress
continue to examine the inner workings of nonprofit organizations and are hard at
work creating new laws to restore public confidence in the country’s 1.8 million
nonprofit organizations.
Come prepared to share practices that have worked for your organization’s board
or a board you have served on, pitfalls you’ve experienced, and practices to avoid.
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Nonprofit Roundtable Gets Back to Basics on Organization Governance
Nonprofit organizations and their governing boards are being held to new standards.
In Board Membership 101, SVA’s Kirsten Houghton will lead the discussion about roles
and responsibilities of directors; composition and structure of nonprofit boards;
and recruiting and retaining board members.
The roundtable breakfast will be 8 a.m. – 10 a.m., Tuesday, May 13, at the Holiday
Inn Hotel & Suites, 1109 Fourier Drive, Madison, Wis., 53717 [link to map]. While there is no charge for the roundtable,
to ensure that we have enough materials and space for everyone, please register
by contacting Robin Reicosky at (608) 826-240 or
reicoskyr@svaconsulting.com.
* Kirsten Houghton, CPA, is a manager in the non-profit services group at Suby,
Von Haden & Associates, S.C