2025 Nonprofit Law & Finance Program

THE

FUTURE W RK OF THE

NONPROFIT LAW AND FINANCE CONFERENCE Presented by

May 28-29, 2025 Oklahoma City University School of Law

okcnp.org/nplfc

AGENDA

WEDNESDAY, MAY 28

8:00 - 8:45 AM

Check-in

Main Entrance

8:45 - 9:00 AM

Welcome

McLaughlin Hall

Mayor David Holt

9:00 - 9:50 AM

General Session: Keynote

McLaughlin Hall

“The State of the Nonprofit Sector” Marnie Taylor, Oklahoma Center for Nonprofits NOTES

10:00 - 10:50 AM Communication in the Workplace Alex Towler-Bliss Room 509

NOTES

Breakout Session 1

You're Already Late: AI, Cybersecurity, and Privacy Impacts on Nonprofits Collin Walke Room 503

Unlocking Financial Stability for Nonprofits: Renewable Energy as a Strategic Advantage Tony Capucille Room 504

Lead SIMPLE: A path to Engagement and Impact Keith Howard Room 506

Advanced Governance in Nonprofits Jonathan Blum and Bob Cartright Room 502

AGENDA 11:00 - 11:50 AM People-Center ed Retention Strategies Kami Kuykendall Room 502

WEDNESDAY, MAY 28 Breakout Session 2

The Dual Role of Attorney and Director: Ethical Implications for Attorneys serving on a nonprofit Board of Directors Jennie Hill Room 503

Stronger Together: Intentional Nonprofit Engagement for Individuals, Organizations, & Corporations Deanna Boston Room 504

Staying Ahead: Tax-Exempt Compliance, UBIT, and Form 990 Updates for 2025 Stephanie Bailey Room 506

Critical Strategies to Enable Effective Succession Planning Bryce Murray and Angela Bellville Room 509

NOTES

12:15 - 1:15 PM

General Session: Keynote

McLaughlin Hall

“Funder Trends” Panel: Jennifer Meckling (facilitator), Trisha Finnegan, Sarah Roberts, Marla Freeman

NOTES

AGENDA

Breakout Session 3

1:30 - 2:20 PM Non-Profit Board Responsibilities Regarding Federal Grants Stephanie Lowery Room 502

WEDNESDAY, MAY 28

Board Work: Advanced Issues in Nonprofit Governance Jonathan Blum Room 503

Strategic Collaborations & Mergers: What Nonprofits Need to Know Stephanie Bailey, Sarah Roberts, Sarah Rahhal, Alex Towler-Bliss Room 509

The Value of Compliance Leslie Friedlander and Malisa McPherson Room 504

Social Venture Activities in the Nonprofit Space Whitley O-Connor Room 506

NOTES

2:30 - 3:30 PM

Breakout Session 4

Performance Management 101 Alex Towler-Bliss Room 502

Embezzlement in a Nonprofit: What the Board of Directors Should Know Jeri Holmes Room 503

DAF 101: How to Cultivate, Receive and Respond to DAF Grants Joshua Dunbar & Sidney Suttles Room 504

Successful Succession Planning

Lea Morgan, Susan Agel, Sunny Cearley, Margaret Creighton, Meghan Mueller, Deborah McAuliffe Senner, Dan Straughan

Room 509 NOTES

AGENDA

THURSDAY, MAY 29

8:30 - 8:45 AM

Opening

Main Entrance

9:00 - 9:30 AM

General Session

McLaughlin Hall

Dr. William Brown

NOTES

9:45 - 10:30 AM Who are “Those People?”: TraumaInformed, Hope-Centered Storytelling for Brighter Futures Angie Doss Room 502

NOTES

Breakout Session 1

Diversity, Equity, Inclusion, and Belonging in the Workplace Alex Towler-Bliss Room 509

Endowments and Fundraising: Building Long-Term Sustainability Cat Slack Room 503

IRS Filing Requirements for Tax Exempt Entities Michelle Mann Room 504

Succession or Retention: Who Will Do The Work?

Gracen Johnsen Room 506

AGENDA 10:45 - 11:30 AM The Changing Demographics in the Workforce: Adapting to a New Era in OKC David Castillo Room 502

THURSDAY, MAY 29 Breakout Session 2

Nonprofit Future Funding: Is Earned Revenue the Answer?

Wendi Wilson, Brent Hart, Tara Simmons, Ameil Shadid Room 509

Mental Health Care and the HIPAA Privacy Rule Stacey Tovino Room 503

Data, Donors, and Dollars: How Tech Makes Giving Personal Angie Doss Room 504

Strategies and Tactics for Winning with People Mark Noble Room 506

NOTES

12:00 - 12:50 PM

General Session: Keynote

McLaughlin Hall

“Navigating the Final Frontier: Future NonProfit Leadership” Vice-Chief Justice Dana Kuehn

NOTES

AGENDA

Breakout Session 3

1:00 - 1:50 PM Attracting and Retaining Talent: Tulsa’s Collaborative Model for the Future of Work Meredith McClure and LaTonya Pratt Room 502

THURSDAY, MAY 29

Joint Ventures between Nonprofits and For-Profits: the risks, rewards, and considerations before saying YES! Jeri Holmes Room 503

Revolutionizing Nonprofits with the Power of AI Greg Morse Room 504

Nonprofit Financial Stability and Budgeting during Economic Volatility Stephanie Bailey and Sherry Dale Room 506

Investing in Leadership: Strengthening Nonprofit Capacity for Greater Impact Charito Lincoln, Janet Johnson, Travis Lozier and Moises Arjona Room 509

NOTES

WELCOME SPEAKER David Holt became the fourteenth Dean of Oklahoma City University School of Law on July 1, 2023. Dean Holt is a graduate of OCU Law (‘09) and holds a B.A. from The George Washington University. Dean Holt is a member of the Bars for the State of Oklahoma and the U.S. Western District of Oklahoma.

DAVID HOLT Oklahoma City Mayor and Dean of Oklahoma City University School of Law

In Dean Holt’s public service life, he serves as the Mayor of Oklahoma City, America’s 20th-largest city. In that role, Holt is in his second term and has been elected President of the United States Conference of Mayors for 2025-2026. Previous to Dean Holt’s election as Mayor in 2018, he served eight years in the Oklahoma Senate, where he authored more than 70 pieces of legislation that became law.

KEYNOTE SPEAKERS Justice Kuehn was appointed to the Supreme Court

by Governor Kevin Stitt on July 26, 2021. Before being appointed, she was serving a 2-year term as Presiding Judge of the Oklahoma Court of Criminal Appeals to which she was appointed in 2017 by Governor Mary Fallin. She is the first woman in Oklahoma history to serve on both courts of last resort.

DANA KUEHN Vice-Chief Justice, Supreme Court Judicial District 6

WILLIAM A. BROWN Professor/Director, The Center for Nonprofits and Philanthropy, Bush School of Government & Public Service at Texas A&M University

A native of Tulsa, Oklahoma, Justice Kuehn attended Oklahoma State University, receiving a Bachelors Degree in Political Science. She received her Juris Doctorate from the University of Tulsa College of Law in 1996. In May 201 7, she was inducted into the Tulsa College of Law Hall of Fame and received the Thomas Coffman Community Service Award.

Justice Kuehn is an active member of the Tulsa County Bar Association and Oklahoma Bar Association. She is a recipient of the 2016 Mona Salyer Lambird Spotlight Award. In 2017, the American Board of Trial Advocates recognized her as Judge of the Year for the State of Oklahoma.

William A. Brown is a professor at the Bush School of Government & Public Service at Texas A&M University and holds the Mary Julia and George Jordan Professorship. He serves as the Director of the Center for Nonprofits and Philanthropy. He teaches Nonprofit Management, Social Innovation and Entrepreneurship, Human Resource Management, and Capstone courses. He received a Bachelor of Science Degree in Education from Northeastern University with a concentration in Human Services and earned his Master's and Doctorate in Organizational Psychology from Claremont Graduate University.

William has worked with numerous organizations in the direct provision of services, consulting, and board governance. He served on the board of the Association for Research on Nonprofit Organizations and Voluntary Action (ARNOVA) from 2007-2012 and chaired the Education Committee from 2009-2011. His research focuses on nonprofit governance, strategy, and organizational effectiveness. He has authored numerous research articles, technical reports, and several practice-oriented publications.

KEYNOTE PANEL SPEAKERS JENNIFER MECKLING (Facilitator) Program Director, Oklahoma City Community Foundation Jennifer Meckling has more than a decade of experience serving charitable organizations in Oklahoma; she is passionate about strengthening our community through its nonprofits. Prior to joining Oklahoma City Community Foundation in June 2018, she gained grassroots experience with the Neighborhood Alliance of OKC, helping small organizations across the region organize, evolve, and advocate for their own causes. Her subsequent positions with Oklahoma Center for Nonprofits afforded her the opportunity to explore the state and forge relationships with individuals, nonprofits and community partners across Oklahoma.

MARLA FREEMAN

Community Relations Manager, Devon Energy Marla Freeman, community relations manager at Devon Energy, is accredited in public relations with prior roles in public affairs and marketing at ONE Gas and Heartland Payment Systems.

Freeman earned a bachelor's degree in Journalism from the University of Oklahoma and an MBA in Leadership and Organizational Design from Oklahoma Christian University. She is a graduate of Leadership OKC's inaugural LOYAL class and actively contributes to the community through board service including Oklahoma City Beautiful, Allied Arts and the South Oklahoma City Chamber.

TRISHA FINNEGAN

President and CEO, Oklahoma City Community Foundation An advocate for investing in places and the people who share them, Trisha has the pleasure of serving as the President & CEO of the Oklahoma City Community Foundation (OCCF). As one of the 20 largest community foundations in the country, the OCCF team partners across communities to strengthen OKC, the region, and beyond. OCCF is proud to have invested over $88M in FY24, alongside their donors. This investment included $25M in community grants and $4.5M in scholarships, led by the foundation, and over $13M in annual endowment funding to more than 400 nonprofits. Prior to joining the philanthropic sector, Trisha built 15 years of multi-functional experience across two Fortune 250 corporations.

SARAH ROBERTS

Vice President of Programs, Inasmuch Foundation Sarah Roberts serves as Vice President of Programs at Inasmuch Foundation where she has been employed for over 20 years. The Foundation was founded

by Edith Kinney Gaylord in 1982 and provides grants to enrich the quality of life and strengthen organizations to benefit people and communities.

Inasmuch Foundation’s grantmaking approach focuses on partnership and collaboration to inspire lasting change in Oklahoma City. The Foundation has placed emphasis on forging public/private partnerships to fund evidence-based interventions for vulnerable children and families as well as attracting much needed federal investments to Oklahoma City.

BREAKOUT SESSION SPEAKERS

SUSAN AGEL

MOISES ARJONA

Former President (Retired), Positive Tomorrows

Executive Impact Director, Unidos Contra la Diabetes

ANGELA BELLVILLE

DEANNA BOSTON

STEPHANIE BAILEY Partner, Core Business Advisors

DAVID CASTILLO

Senior Manager, HoganTaylor Talent Team

CEO, Strategic Community Consulting

President, Greater OKC Hispanic Chamber

TONY CAPUCILLE

SUNNY CEARLEY

MARGARET CREIGHTON

CEO & Co-founder, Brightwell Capital Partners

SHERRY DALE Co-Founder, Mettise

President and CEO, Allied Arts

ANGIE DOSS

Chief Development and Marketing Officer, Sunbeam Family Services

President & CEO, Positive Tomorrows

JOSHUA DUNBAR

Donor Services Manager, Oklahoma City Community Foundation

BREAKOUT SESSION SPEAKERS

LESLIE FRIEDLANDER

BRENT HART

Sr. Assistant Attorney General, Executive Director, Attorney General of OKC Philharmonic Orchestra Oklahoma

JENNIE HILL

Managing Attorney, Nonprofit Solutions Law

JERI HOLMES

KEITH HOWARD

President and Founder, Nonprofit Solutions Law

CEO, Circle of Care, Inc.

VP & Senior HR Consultant, James Farris Associates

JANET JOHNSON

KAMI KUYKENDALL

CHARITO LINCOLN

TRAVIS LOZIER

MICHELLE MANN

President and CEO, Jordan Johnson, Inc.

STEPHANIE LOWERY Grants Administrator, Oklahoma Office of the Attorney General

GRACEN JOHNSEN

Founder/CEO, Nectar VP Community Investment, Methodist Healthcare Coaching and Consulting LLC Ministries

Chief Quality and Culture Officer, Jordan Johnson, Inc.

Tax Senior Manager, HoganTaylor

BREAKOUT SESSION SPEAKERS

MEREDITH MCCLURE

MALISA MCPHERSON

Marketing Manager, Tulsa Remote

Assistant Attorney General, Oklahoma Attorney General's Office

MEGHAN MUELLER

BRYCE MURRAY

President and CEO, Homeless Alliance

Principal, HoganTaylor

LATONYA PRATT

SARAH RAHHAL

Director, inTulsa

CEO, Sunbeam Family Services

AMEIL SHADID

CAT SLACK

Sr. VP of Revenue and Development, Oklahoma State Chamber

CEO, Cat Slack Consulting

LEA MORGAN

Partner, Tippens-Mays + Morgan

MARK NOBLE

Founder and CEO, The Noble Force

JASON RINCKER

Chief Revenue Officer, Stronghold Data

TARA SIMMONS

VP of Development, Science Museum of Oklahoma

BREAKOUT SESSION SPEAKERS

DEBORAH MCAULIFFE SENNER President & CEO, Make-A-Wish Oklahoma

STACEY TOVINO

Associate Dean for Faculty Development and Research, Oklahoma College of Law

DAN STRAUGHAN

Executive Director (Retired), Homeless Alliance

ALEXANDRA TOWLER-BLISS

Founding Attorney, Culture Connection

WENDI WILSON

President & CEO, Empower: Strategic Solutions for Nonprofits

FOR FULL BIOS OF ALL SPEAKERS, SCAN THIS CODE OR VISIT OKCNP.ORG/NPLFC

SIDNEY SUTTLES

Donor Services Manager, Oklahoma City Community Foundation

COLLIN WALKE

Cybersecurity and Data Privacy Practice Lead, Hall Estill

ACKNOWLEDGMENTS Thank you to our Presenting Sponsors: HoganTaylor is one of the largest business advisory and public accounting firms in Oklahoma and Arkansas, and a top 100 firm in the U.S. With more than 400 employees, the Firm provides tax, assurance, risk, business advisory, accounting, talent, technology, and many specialty and industry-focused services.

HoganTaylor is an independent member of PrimeGlobal, one of the five largest associations of independent accounting firms in the world. Learn more at hogantaylor.com.

Thank you to our Ambassador Sponsors: Bank of Oklahoma serves the communities where they live and raise their families—they’re deeply focused on being good neighbors. Through more than $8 million in financial contributions and the generosity of their employees giving their time and talent—more than 59,000 volunteer hours last year—the company continues to make a significant impact in local communities. Across Bank of Oklahoma’s eight-state footprint, local employees partner with organizations working to tackle a broad range of community needs from low-income housing to mental health services and feeding the hungry to educational initiatives. Financial literacy is a key element of how Bank of Oklahoma gives back, whether that’s educating K-12 students, first-time homebuyers or aspiring business owners.

For over 25 years, Paycom Software, Inc. (NYSE: PAYC) has simplified business and employees’ lives through easy-to-use HR and payroll technology to empower transparency through direct access to their data. From onboarding and benefits enrollment to talent management and more, Paycom’s employee-first technology leverages full-solution automation to streamline processes, drive efficiencies and give employees power over their own HR information, all in a single app. Paycom’s single database combines all HR and payroll data in one place, providing a seamless and accurate experience without the errors and inefficiencies associated with integrating multiple systems. Recognized globally for its technology and workplace culture, Paycom serves businesses of all sizes in the U.S. and internationally.

Summit Financial Group has been a trusted resource for over 35 years, offering tailored solutions in Risk Management, Employee Benefits, Insurance, Retirement Plans, and Wealth Management to help protect assets and pursue business and life goals.

ACKNOWLEDGMENTS We thank the Oklahoma City University School of Law for hosting the Nonprofit Law and Finance Conference.

We also thank these businesses and organizations for presenting sessions: Allied Arts Brightwell Capital Partners Cat Slack Consulting Circle of Care, Inc. Core Business Advisors Culture Connection Law Devon Energy Empower: Strategic Solutions for Nonprofits Greater OKC Hispanic Chamber Hall Estill HoganTaylor Homeless Alliance Homeless Alliance Inasmuch Foundation inTulsa James Farris Associates

Mettise Make-A-Wish Oklahoma Nectar Coaching and Consulting LLC Nonprofit Solutions Law Oklahoma Attorney General's Office Oklahoma City Community Foundation Oklahoma City Philharmonic Orchestra Oklahoma College of Law Oklahoma State Chamber Positive Tomorrows Science Museum of Oklahoma Strategic Community Consulting Stronghold Data Sunbeam Family Services Sunbeam Family Services Tippens-Mays + Morgan Tulsa Remote

Special thanks to our Law & Finance Conference Committee: Jennie Hill, Ashleigh Gibson, Stephanie Bailey, Amy Curran, JoAnna Woolridge, Jennifer Meckling and Jessica Mendieta

yoursummit.com (800) 475-0991

The American Fidelity Foundation supports community leaders who work to make a difference in the community and we proudly sponsor the Oklahoma Center for Nonprofits Law and Finance Conference.

AF-4519-0425

foundation.americanfidelity.com

Move forward with confidence.

Compliance and business solutions that build FRQĆGHQFH ZLWK VWDNHKROGHUV DQG DOORZ \RX WR IRFXV RQ \RXU PLVVLRQ Partner with advisors who understand your industry

Demonstrate stewardship to your donors

Build good governance and sustainability practices

Complex business problems, taxes, regulatory compliance, and unforeseen issues demand your attention every day—it’s a full WLPH MRE SXWWLQJ RXW ĆUHV What if you could spend more time serving your mission, members, and donors?

Our interdisciplinary team of assurance, tax, and advisory personnel works closely with your executives and board of GLUHFWRUV WR KHOS \RX EXLOG D FRPSOLDQW VXVWDLQDEOH RUJDQL]DWLRQ Focus on what’s most important and rely on HoganTaylor for the compliance and advisory services you need to stay in command of your organization.

7XOVD _ 2NODKRPD &LW\ /LWWOH 5RFN _ )D\HWWHYLOOH ZZZ KRJDQWD\ORU FRP QRQSURĆW

Championing a better Oklahoma Paycom is proud to support the 3OPELSQE 'IRXIV JSV 2SRTVSȚXW MR IQTS[IVMRK RSRTVSȚXW XS EGLMIZI excellence in their missions.

See how Paycom can help your business.

You have a mission.

We can help.

BOK

BOKFINANCIAL.COM/NONPROFITS BOK Financial® is a trademark of BOKF, NA. Member FDIC. Equal Housing Lender . © 2025 BOKF, NA. BOK Financial Corporation (BOKF) offers [IEPXL QEREKIQIRX ERH XVYWX WIVZMGIW XLVSYKL ZEVMSYW EƾPMEXI GSQTERMIW and non-bank subsidiaries including advisory services offered by BOKF, NA and its subsidiaries BOK Financial Asset Management, Inc. and Cavanal Hill Investment Management, Inc., each an SEC registered investment advisor. BOKF offers additional investment services and products through its subsidiary, BOK Financial Securities, Inc., a broker/dealer, member FlNRA/SIPC, and an SEC registered investment adviser and BOK Financial 4VMZEXI ;IEPXL -RG EPWS ER 7)' VIKMWXIVIH MRZIWXQIRX EHZMWIV ɸ 238 *(-' -2796)( - 23 &%2/ +9%6%28)) - 1%= 037) :%09) ɸ

GLOSSARY OF FINANCIAL TERMS Accrual Accounting – An accounting method where transactions are recorded as expenses when they are incurred and as income when it is earned. The alternative is Cash-Basis Accounting where revenue and expenses are recognized at the time cash is received or paid out.

Allocation – A method of accounting that divides expenses among different programs, administrative, and fundraising categories based on a formula that recognizes the use of the resources such as use of the facility or staff time.

Audit – A third-party auditor or auditing firm examines your nonprofit’s financial statements, records, transactions, accounting practices, and internal controls.

This is a financial report that is tested and verified for accuracy by a Certified Public Accountant (CPA).

Board-Designated Funds – A condition stipulated by an organization’s board of directors on how an amount of money is to be used. A common type of board designation is for Operating Reserves. For accounting purposes, these funds are considered unrestricted because the condition was not specified by a donor.

Capitalizing an Asset – Recording the cost of land, a building or equipment as fixed assets rather than as an expense when purchased.

Change in Net Assets – This replaces “Net Income” on financial statements. Net assets are the total assets of an organization, minus its total liabilities.

Chart of Accounts – The Chart of Accounts is the backbone of all financial reports. It is a list used to explain WHAT happened. It separates assets, liabilities, income and expenses. For example: Donation Revenue for funds received from a donor or Salary and Wage Expense for staff salary or Furniture and Equipment for new office furniture.

Conditional Contribution - Conditional promises to give contain donor-imposed conditions that represent a barrier that must be overcome as well as a right of release from obligation. A conditional promise to give shall be recognized as revenue when the condition on which they depend is substantially met, that is, when the conditional promise becomes unconditional.

Contribution - An unconditional transfer of cash or other assets, as well as unconditional promises to give, to an entity or a reduction, settlement or cancellation of its liabilities in a voluntary nonreciprocal transfer by another entity.

Direct Costs – The expenses which are directly tied to the production of specific goods or services, in nonprofits that would specific programs that deliver the mission to your constituents. Costs may be exclusively for that purpose or may be allocated between several uses.

Donor-imposed Condition - A donor-imposed condition must have both: a. One or more measurable barriers that must be overcome before a recipient is entitled to the assets transferred or promised

GLOSSARY OF FINANCIAL TERMS b. A right of return to the contributor for assets transferred (or for a reduction, settlement, or cancellation of liabilities) or a right of release of the promisor from its obligation to transfer assets (or reduce, settle, or cancel liabilities).

Donor-imposed Restriction - A donor may direct how and when a recipient will use their gift. Those instructions create legal restrictions that govern the use of the funds by the recipient. Donor-imposed restrictions do not affect the recipient’s ability to recognize the gift. Instead, they affect how the gift is reported in the recipient’s statement of activities (i.e., as an increase in net assets with donor restrictions or net assets without donor restrictions).

Endowment – An amount of assets owned by an organization that is invested with the intention to be held in perpetuity. The income and increases in value of the investments are available as income for program use and organizational purposes. Endowment funds received from a donor are Funds With Donor Restrictions and cannot be re-directed for other purposes. Endowment funds that are created by internal policy, they are Board-designated, or Quasi-Endowment. Endowments are subject to multiple accounting and legal rules.

Exchange Transaction - reciprocal transfers in which each party receives and sacrifices approximately commensurate value. May be fees received for program service and may include payments received from grantor for specific service performed for grantor.

Form 990 – The IRS form that must be filed each year to maintain your tax-exempt status. Due on the 15th day of the 5th month following the end of your fiscal year. (Dec 31 year end = 990 due May 15th; June 30 year end = 990 due Nov 15th). The specific version is determined by revenue and assets.

990-N: Gross receipts normally less than or equal to $50,000 990-EZ: Gross receipts less than $200,000 and Total assets less than $500,000 990:

Gross receipts greater than $200,000 or Total assets greater than $500,000

990-PF: Private foundation regardless of financial status https://www.irs.gov/charities-non-profits/form-990-series-which-forms-doexempt-organizations-file-filing-phase-in GAAP (General Accepted Accounting Principles) – The rules that govern financial reporting. They are designed to ensure accuracy, consistency, and transparency. Enforced by Federal Accounting Standards Board and the Securities and Exchange Commission. Used for internal and external financial reporting, including audits.

GLOSSARY OF FINANCIAL TERMS Gifts in Kind (goods or services) - Contributed tangible property worth accepting generally possesses the common characteristic of all assets—future economic benefit or service potential. The future economic benefit or service potential of a tangible item usually can be obtained by exchanging it for cash or by using it to produce goods or services. Valued and recorded as revenue at fair market value as determined by the recipient.

Contributed services are recognized as revenue if the services meet any of the following criteria: a. They create or enhance nonfinancial assets. b. They require specialized skills, are provided by individuals possessing those skills, and would typically need to be purchased if not provided by donation. Services requiring specialized skills are provided by accountants, architects, carpenters, doctors, electricians, lawyers, nurses, plumbers, teachers, and other professionals and craftsmen. This extends also to the use of such items as utilities and use of donated facilities (rent).

In-Direct Costs – In-direct costs include costs which are frequently referred to as overhead expenses (for example, rent and utilities) and general and administrative expenses. In-direct costs can be allocated to programs if the programs benefit from the expense.

IRS 501(c) Tax Code – Refers to the tax code that lists different ways that an organization can qualify to be tax-exempt. There are roughly 30 sections under the code.

IRS 501(c)3 Tax Code – The specific tax code for Charitable Organizations “The exempt purposes set forth in section 501(c)(3) are charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, and preventing cruelty to children or animals. The term charitable is used in its generally accepted legal sense and includes relief of the poor, the distressed, or the underprivileged; advancement of religion; advancement of education or science; erecting or maintaining public buildings, monuments, or works; lessening the burdens of government; lessening neighborhood tensions; eliminating prejudice and discrimination; defending human and civil rights secured by law; and combating community deterioration and juvenile delinquency.” https://www.irs.gov/charities-non-profits/charitable-organizations/ exempt-purposes-internal-revenue-code-section-501c3 IRS 501(c)4 Tax Code – The specific tax code for Social Welfare Organizations IRS 501(c)5 Tax Code – The specific tax code for Labor and Agricultural Organizations

GLOSSARY OF FINANCIAL TERMS IRS 501(c)6 Tax Code – The specific tax code for Business Leagues and Trade Associations IRS 501(c)7 Tax Code – The specific tax code for Social and Recreational Clubs Net Assets – The difference between Assets and Liabilities on the Statement of Financial Position. Replaces “Equity” on for-profit Balance Sheets.

Nonprofit Organization – (not the same as not-for-profit) A nonprofit organization serves the public good. They are exempt from paying federal income tax.

Not-for-profit Organization – (not the same as nonprofit) – Not-for-profit organizations serve their members. They are exempt from paying federal income tax.

Private Foundation – A private foundation cannot be tax exempt nor will contributions to it be deductible as charitable contributions unless its governing instrument contains special provisions in addition to those that apply to all organizations described in 501(c)(3). https://www.irs.gov/charities-non-profits/charitable-organizations/ private-foundations Revenue – The money gifted to a nonprofit organization through donations or grants or other means. Typically the term ‘Revenue’ is used rather than ‘Income’ for nonprofit reporting purposes.

Statement of Activity – The nonprofit version of an Income Statement or Profit & Loss Statement. It is one of the primary financial reports for an organization, reporting the revenue, expenses, and change in net assets for a period of time.

Statement of Financial Position – This is the nonprofit version of a Balance Sheet. It reflects the assets, liabilities and net assets of an organization at a particular date.

Statement of Functional Expense – This is an additional report specific to nonprofit organizations. Similar to a Statement of Activity, the Statement of Functional Expense reports the expenses of an organization by purpose. It tells WHY the transaction happened. Typically includes at least three areas – Administration, Fundraising, and Programs.

Unconditional Promise to Give - A promise to give that requires only the passage of time or demand by the recipient for performance. May be written or oral agreement. An unconditional promise to give shall be recognized as revenue or gain in the period the promise is received and as an asset.

Unrelated Business Income – Income from a “trade or business, regularly carried on, that is not substantially related to the charitable, education, or other purpose that is the basis of the organization’s exemption.” Charitable organizations can be required to pay income tax on this type of income. https://www.irs.gov/charities-non-profits/unrelated-business-income-tax

528

529

530

531

527

526

524

Stairwell 3

Vending

Stairwell 4

533

500E

523

Elevators

534

506

500C

500D

500 Courtroom

505

N

507

508

509A

509

510

500F

504

500A

500B

522

511 515

513

520

521

519

Stairwell 2

517

Elevators

516

Stairwell 1

512

503

502

501

MAP - 5TH FLOOR

THANK YOU TO OUR GENEROUS SPONSORS PRESENTING SPONSORS

AMBASSADOR SPONSORS

HOST SPONSOR

PARTNER SPONSOR

LET US KNOW WHAT YOU THINK. TAKE OUR SURVEY!