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Few issues facing nonprofit organizations these days are as prominent as executive compensation. In the last year the Internal Revenue Service has repeatedly stated in speeches, publications, and its 2011 annual work plan that executive compensation is area of keen focus with tax-exempt organizations. In addition to IRS scrutiny, with the public availability of the Form 990, nonprofits are subject to intense public and media scrutiny as well. Of even greater concern are the consequences of providing executives with excessive compensation or benefits, which can include revocation of tax-exempt status and substantial monetary penalties on the executives and insiders who receive (and approve) excess benefit transactions.
This distinguished panel of legal, tax and compensation experts will draw form their knowledge and extensive experience to explain private inurement and intermediate sanctions, the potential penalties for violations, and, most importantly, ways in which nonprofits can protect themselves from running afoul of these tax provisions. From compensation studies and surveys (including what works and what doesn't in different circumstances), to appropriate governance approval processes, to how compensation information is presented in annual financial statements and the Form 990, to the appropriate treatment of certain employee benefits as taxable income, this program will give you practical tips and suggestions to help keep your nonprofit -- and its executives -- out of hot water with the IRS and others.
Matthew Journy, Esq., Associate, Venable LLP
Pete Smith, President, Smith Compensation Consulting
Travis Patton, Director - Exempt Organizations Tax Services, PriceWaterhouse Coopers
Lunch and Networking - 12:00 p.m. EST
Presentation and Webinar - 12:30 p.m. EST
RSVP to NonprofitEvents@Venable.com. Please indicate if you will attend the luncheon or participate via webinar. There is no cost to attend.