Be prepared for the new 990 

WHO: Associations and Non-Profit organizations in St. Louis
WHAT: 990-403(b) Workshop
WHEN: Friday, Nov. 21; 7 - 9:30 a.m.
WHERE: Chesterfield, Mo.
WHY: Learn about changes to both the Form 990 and 403(b) requirements
HOW: RSVP to info@drakeco.com or by calling: (636) 449-5050  

Howe & Hutton
 
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Reserve your spot today
Space is limited.
 
RSVP to Drake & Company. Please, provide your name, title, organization, phone number and e-mail address to:
 
or
(636) 449-5050
 
What requirements do you need to have in place for 2009?
 
Association legal experts from Howe & Hutton, along with accounting experts from Bergman Schraier and financial planners from Cornerstone Financial invite associations and not-for-profit organizations based in the Greater St. Louis area to attend this free seminar about the new IRS Form 990 and 403(b) requirements. They will help you prepare you to:
  • File the new Form 990
  • Implement your organization's 403(b) plan as of Jan. 1, 2009
  • Establish a conflict of interest policy
  • Have a record retention policy
  • Create a whistleblower policy
In order to allow smaller exempt organizations time to adjust to the new form, the IRS has stated that organizations with gross receipts equal to or less than $1 million and total assets up to $2.5 million will be able to use Form 990-EZ instead of the new Form 990 for 2008 returns filed in 2009.  For the 2009 tax year filing due in 2010, organizations with gross receipts less than $500,000 and total assets less than $1.25 million will still be able to use Form 990-EZ.  Thereafter, the Form 990-EZ maximums will be gross receipts of $200,000 and $500,000 in total assets.
 
Whether your association fits the first, second or third category, you should be taking steps NOW to prepare to file the new Form 990 and adhere to new 403B requirements 
Workshop Details

DATE:
Friday, Nov. 21, 2008

LOCATION: 
Drake & Company
Herman Stemme II Conference Rooms A&B (third floor)
16020 Swingley Ridge Road 
Chesterfield, MO  63017



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PROGRAM:
7:00 a.m. Registration
7:30 Welcome and introductions
7:40 Preparing for the new Form 990
8:45 403(b) plan revisions and requirements
9:30 Program concludes
Immediately following the conclusion of the program, we invite you to stay for an optional panel discussion with the speakers

Preparing for the new Form 990
As we near the end of 2008, associations and other tax-exempt organizations should be working with their boards of directors, accountants and legal counsel to make changes in governance and reporting procedures in order to have the necessary information available for 2008 tax filings including the new IRS Form 990. The redesign of Form 990 was based on three principles. The first principle is to enhance transparency by providing the IRS with a realistic snapshot of the organization and its operations as well as a basis for comparison to similar entities. The second principle is to promote tax compliance by accurately reflecting the organization’s operations and use of assets so that the IRS may assess the risk of noncompliance. The final principle is to minimize the burden on the filing organization by asking questions in a manner that makes it relatively easy to complete the form while not imposing unwarranted burdens in recording and documenting the information. However, for organizations with complicated structures or compensation arrangements, the new Form 990 may be significantly more complicated to complete.

403(b) plan revisions and requirements
The final IRS regulations were published in July, 2007. The start date for the new regulations is Jan. 1, 2009 – less than two short months away.

On Nov. 21, we will discuss the background of these changes and what they mean to you. We’ll help you answer questions such as, What are the new requirements? Does your plan qualify as an ERISA plan? If an ERISA plan, what additional requirement must you meet? Are you prepared for an audit?

The deadline to meet these requirements is quickly approaching. Join us at this seminar to learn what you will need to do to be prepared for Jan. 1, 2009.


SPEAKERS
Barbara DunnBarbara Dunn, Esq.
Howe & Hutton, Ltd.

Mary Jane Pieroni, CPA, CFE
Bergman Schraier & Co., P.C.

Mary Jane Pieroni, CPA, CFE, is a manager in our audit department. With over 25 years of experience in the St. Louis not-for-profit community, Mary Jane has assisted clients and other not-for-profit entities with setting strategic direction, board development, creating budgeting processes, improving financial reporting systems, and evaluating and maintaining not-for-profit tax status in addition to the more traditional audit and tax services.

A certified fraud examiner, she also performs a variety of fraud deterrence and detection services, and serves as a resource to community organizations. Mary Jane graduated from the Medill School of Journalism at Northwestern University and received her M.B.A. degree from the Kellogg School of Management.

Kerry Robinson
Cornerstone Financial Group
Kerry RobinsonKerry Robinson is a Financial Representative with Cornerstone Financial Group. Kerry’s vision is to guide his clients to a secure future by providing them with suitable options that will help them reach their financial goals.

He is a 1995 graduate of Southeast Missouri State University with a Bachelor of Arts degree in general studies, with an emphasis in Sports Management.

Prior to his career in the financial industry, Kerry spent thirteen years playing professional baseball that included time with five different Major League clubs including the St. Louis Cardinals. 

Kerry’s background in professional sports has given him a strong desire to share his experiences with young athletes, and in turn help prepare them for the potential challenges and hardships that could come with the fiscal ups and downs in professional sports world and in life.

He resides with his wife Maggie and their three daughters, Brittney, Cammie and Kori in Wildwood, Missouri.

Bruce Ward, CLU, CFP
Cornerstone Financial Group
Bruce WardBruce Ward established his financial services career in 1991 after completing an MBA from Golden Gate University. Bruce’s business vision is to help navigate his clients through rough and uncertain waters to assist them in their goal of achieving financial peace of mind.

Bruce also has a BS in Management from the U. S. Coast Guard Academy, where he learned the leadership and organizational skills needed to help his clients reach their personal, family, and business financial goals. His holistic process allows clients to see how their individual issues fit into one coordinated and integrated strategy, which makes implementing and monitoring their situation easy.

He has served on the board of directors of his church and the St. Louis chapter of NAIFA, where he helped pass important legislation in the Missouri legislature. He is also active in the Society of Financial Service Professionals. Bruce lives in Ballwin with his wife, Jeani, and their children, Nathan and Sarah; and is a Unit Commissioner for Boy Scouts and a challenge course instructor.