Tax-exempt organizations are generally aware that they may be subject to the unrelated business income tax (UBIT) on income derived from certain types of activities, despite being recognized by the IRS as organizations that are otherwise exempt from income tax under Section 501(c)(3) or under other provisions of U.S. Internal Revenue Code Section 501(c). Whether the UBIT applies in a particular instance or to a particular activity, however, may not always be clear.

In this session, we will cover the various elements that affect UBIT. This topic usually generates many questions and will assist attendees with identifying the following:


• Three factors when determining if an unrelated trade or business


• Exclusions from unrelated trade or business income


• Common unrelated trade or business activities


• Expenses


• Form 990-T

With a completely new political climate comes uncertainties and opportunities that manifest themselves in a variety of spheres of life. Wall Street and Main Street are two prominent places to witness this impact. Will Wall Street continue its defiance and the raging bull will keep fighting? Will Main Street see the economic certainty that has been snatched away from so many due to the devastating impact of COVID-19? What was considered safe before may no longer offer that security as economic policies clash with the political realities. Learn how to navigate this tricky environment, the right questions to ask, and how to equip your investment committee for prudent monitoring of the organization's portfolio.

This session will address the common accounting and financial issues arising from COVID-19, such as PPP loans, payroll credits and deferrals, lease concessions and modifications, donors' changing restrictions on donations, going concern analysis, internal control considerations in a virtual environment, and other accounting topics that could result from the pandemic.

"By failing to prepare, you are preparing to fail." ~ Benjamin Franklin

Planning a Single Audit engagement is not an easy task. Navigating several risk assessments to evaluating the composition of federal awards to selecting major programs to selecting the proper compliance requirements for testing can be lead to many missteps if not performed with knowledge and discipline. This session will utilize a case study approach to planning a typical not-for-profit entity Single Audit highlighting best practices as well as common pitfalls to avoid.

We'll provide an overview of the final UBI silo-ing regulations and discuss significant changes from the proposed regulations and the impact of those changes. We will also explore some case studies and examples illustrating the challenges and opportunities that practitioners are facing in implementing the regulations, such as grouping activities by type and by relationship, determining and gathering information on qualifying partnership investments, and navigating net operating loss challenges that have surfaced.

This session will focus on scenario planning, which is a process financial leaders can use to support decision making and help navigate the uncertainty of the future in the short and long-term. This session will also explore ways to provide real time reporting to key constituents in a disruptive environment.  We will discuss different methods for scenario planning, ways that analyzing scenarios can facilitate informed decision making, and tips and tools to help create a scenario planning process for your organization.

Churches are places where employees are trusted and forgiveness easily given. Unfortunately, those admirable characteristics also create environments ripe for fraud. In this session, we will explore how fraud is committed, the profile of fraudsters, case studies of actual cases of church fraud, and how to prevent fraud in the church. 

Join this session as we explore how leveraging technology in audits allows the right professionals to reduce inefficiencies and work on what matters most. Approaches include focusing on foundational technology, assurance technology, and automation, to deliver services that are highly valued by users and are performed by people doing evaluative, insight driven, and meaningful work.

The most significant changes to the Uniform Guidance since its inception became effective this past Fall. Understanding and applying these changes is key to maintaining compliance with Federal grant requirements and, just as much, auditing those requirements. Grantees and auditors alike will find this session useful in ensuring a complete understanding of the revisions.