Morning Remarks and Book vs Tax...How Do You Take Your Morning Coffee?

This session will provide insights and suggestions related to aligning financial and tax reporting as part of the end of year process, focusing on the coordination of gathering and reporting financial information to various users, including the organization's board, auditors and tax return preparers.  The panel will also discuss a variety of book-tax differences that are required to be determined when preparing federal Form 990-PF, including:

· Timing of grant reporting

· Treatment of in-kind services and use of facilities

· Making accrual to cash adjustments

· Allocation of expenses between net investment income and qualifying distributions

·         Impact of program related investments

·         Tracking and reporting of alternative investments

·         Adjustments for unrelated business income