Description

Do you have a split-interest agreement, such as a CRT, CLT or unitrust? These split-interest agreements are created when a donor contributes assets directly to a not-for-profit organization or places them in a trust for the benefit of the not-for-profit organization, but for which the organization may or may not be the sole beneficiary. Join us for this session as we discuss:

-Split-interest agreements: definitions and the different types of agreements

-How to account for split-interest agreements

-Tips and suggestions for reviewing and recording these agreements

-Disclosure requirements within the financial statements, footnotes and the Form 990

• Determine how to record and report these types of agreements after Year 1.
• Learn the disclosure requirements for both the financial statement footnotes and the Form 990.

Speaker(s):

• Jennifer Hoffman, CPA, Partner, Grant Thornton LLP
• Rick Wentzel, CPA, NFP Audit Partner, Grant Thornton LLP