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Top Questions CPA Firms Receive from Non-Profits

Special Events

  • Why did my special event produce a profit but report a loss on Schedule G of Form 990?
  • Why do I need to identify donor direct benefits from my special event costs?
  • Isn’t the selling price of an event ticket the same as the fair market value of an event ticket?

Board of Directors

  • Who are my current and former officers, directors and trustees? Why are the board members who stepped down this year still listed on the Form 990?

Executive Director Salary and Benefits

  • Why is there different compensation amounts reported on the Form 990 for executive director?

Financial Statement Non-990 Items

  • Where are unrealized gains/losses and donated services being reported on Form 990? I don’t see them being reported?
  • How do I reconcile my financial statements to Form 990?

Donations – Schedule B

  • How did I determine which donors to report on Schedule B of Form 990?

Join us on September 20th for a seminar detailing the key differences between GAAP and IRC reporting and we will answer the most common questions received from the nonprofit industry. Additional details regarding the seminar to follow.