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Understanding the Public Support Test and What it Means to Your Public Charity

Event type:  Seminar
Date:  February 25, 2014
Time:  8:00 AM-10:00 AM

Bethesda Crossing
4550 Montgomery Avenue, Suite 650N
Bethesda, MD 20814

Cost:  Complimentary

CPE credit will be offered for attending this presentation.

Nonprofit Tax Principals Steve Kelin and Richard Locastro will repeat their presentation, Understanding the Public Support Test and What It Means to Your Public charity, for the benefit of clients and friends of the firm unable to attend the 2013 GWSCPA Nonprofit Finance and Accounting Symposium.

Maintaining your status as a public charity is critical to your organization. Failure to monitor and understand the complex and often perplexing public support test (Schedule A of Form 990) can lead to loss of public charity status. This seminar will explain the different definitions/tests of public charity status, review the calculation of public support for each and highlight common mistakes and misunderstandings. Audience attendees will, following the presentation:

1. Understand what “public charity” status is and how it impacts tax-exempt organizations
2. Learn how to capture information necessary to accurately calculate the public support
3. Increase awareness of common mistakes made in calculating public support
4. Learn how to monitor public support calculations and understand when and why the public support percentage may be an issue for your organization
5. Learn how to anticipate potential problems far enough in advance so as to allow for the development of corrective strategies

Presenters:  Richard J. Locastro
Stephen J. Kelin

Jackie’s leadership allowed me to stay focused when faced with an audit a month after returning from extended leave. She stays in contact with me throughout the year and responds immediately to any questions … I am always impressed by the quick turnaround time. Our audit always goes smoothly.

Feng Zhang |  Finance Manager
The Arc of the United States