The 27th annual conference on Not-For-Profit Organizations  Friday, June 6, 2008

ONLINE REGISTRATION AVAILABLE! Click here to register online or print registration information.

This one-day seminar is designed for experienced attorneys, accountants, not-for-profit executives and staff, and board members. The conference features a comprehensive program at a mid-to-advanced level of discussion on the most current developments in taxation, legislation and regulation of non-profits.
 
Co-Sponsors:
Donors Forum of Chicago
Illinois CPA Society
Internal Revenue Service

» IRS Focus 2008
» The New Form 990: Why You Need to Know About This Now!
» How to Prepare the New IRS Form 990
» How the New 990 Affects Non-Profit Governance
» Liability Protections: Using Multiple Entities
» Political Campaign Activities of Not-for-Profits
» Real Estate and Sales Tax Exemptions
» Legal and Tax Aspects of Alternative Investments
» Tax Return Preparer Penalties (ethics)
» IL Attorney General’s Office Report

8:00-8:45
Registration

8:45-9:00
Welcome & Announcements

Harold J. Krent, Dean and Professor of Law, Chicago-Kent College of Law

Philip N. Habluzel, Faculty Sponsor, Professor of Law, Chicago-Kent College of Law

Janice E. Rodgers, Quarles & Brady LLP, Conference Co-Chair

9:00-9:45
IRS Focus 2008
» This session will provide insight into the IRS’s priorities for exempt organizations during the coming year.

Lois G. Lerner, Director, Tax Exempt Organizations, IRS

9:45-10:45
The New Form 990: Why You Need to Know About This Now!
» The IRS has issued a new Form 990 for 2008 — its first major redesign of the Form since 1979. Tax-exempt organizations that file the Form 990 will find many revisions affecting the 2008 tax year, including some that will necessitate changes in accounting and recordkeeping and others that may lead to consideration of new or revised policies and procedures for governance and other matters. This session will discuss the most important changes so that organizations and their advisors can start planning for the new Form now.

Lois G. Lerner, Director, Tax Exempt Organizations, IRS

Mary Rauschenberg, Deloitte Tax LLP

Elaine Wilson, Quarles & Brady LLP

10:45-11:00
Break

11:00-11:45
Panel Discussion and Questions

Moderator: Philip N. Habluzel, Chicago-Kent College of Law

11:45-12:45
Buffet Luncheon

12:45-2:00
CONCURRENT WORKSHOPS

How to Prepare the New IRS Form 990
» This workshop will discuss the new requirements that affect the accounting and information reporting process within various organizations, and provide an overview of significant changes in the form and the impact of those changes. Highlights include discussion of the following questions: What’s new on the IRS Form 990? When will it affect your organization? What new information needs to be tracked? Does your chart of accounts need to be changed in order to match categories on the Form? What are other organizations doing to prepare for the new disclosures? What policies and procedures need to be revised or documented?

Madhuri K. Thaker, Blackman Kallick

Brian T. Whitlock, Blackman Kallick

How the New 990 Affects Non-Profit Governance
» Like it or not, the IRS has gotten into the business of supervising non-profit governance. The new 990 asks many questions outside the realm of accounting and taxes. This session will review those sections of the 990 affecting governance, highlight policies that must be in place during 2008 and suggest practical tips for minimizing audit risk.

Paula Cozzi Goedert, Barnes & Thornburg LLP

Valerie Lies, Donors Forum of Chicago

Liability Protections: Using Multiple Entities
» The starting point of this workshop will be the lure of using multiple entities such as subs or affiliates to limit the liability of the main non-profit. In addition to “piercing the veil” of non-profits, the discussion will continue with particular attention to the structural and corporate governance issues involved in operating in a multiple-entity context.

Philip N. Hablutzel, Chicago-Kent College of Law

2:00-2:15
Break

2:15-3:30
CONCURRENT WORKSHOPS

Political Campaign Activities of Not-for-Profits
» In this election year, it is particularly important for charities and other nonprofits to know the legal limits on political campaign-related activity and where the line falls between permitted lobbying activity and prohibited campaign intervention, including guidance as to voter guides, compilations of voting records, and speeches or statements by or about candidates. This session will address those issues as well as recent IRS activity in this area.

Michael A. Clark, Sidley Austin LLP

Real Estate and Sales Tax Exemptions
» The real estate and sales tax exemptions for charitable organizations in the State of Illinois are under constant challenge by regulatory agencies. Various legislative proposals have been made to limit or reduce such exemptions. This presentation will provide you an opportunity to address the legal issues to obtain and continue to qualify for a real estate tax and a sales tax exemption as well as other state and local exemptions within the State of Illinois.

Floyd Perkins, Ungaretti & Harris

Legal and Tax Aspects of Alternative Investments
» Moving a portion of your investment portfolio from marketable securities into alternative investments can be a profitable and rewarding strategy for your institution. However, investors should be sure they understand the business and legal issues associated with investing in a private fund, including issues unique to tax exempt institutions, in order to minimize the risks from alternative strategies.

Thomas E. Chomicz, Quarles & Brady LLP, Conference
Co-Chair

John P. Vail, Quarles & Brady LLP

3:30-3:45
Break

3:45-5:00
CONCURRENT WORKSHOPS

Tax Return Preparer Penalties (ethics)
» The new preparer penalties apply to federal estate and gift, employment and excise tax returns, in addition to income tax returns. In addition, the penalties apply to claims for refund. Who qualifies as a “return preparer” and what are the best practices for dealing with these new rules? What are the Director of Practice implications of these new rules?

Denis J. Conlon, Martin, Brown & Sullivan, Ltd.

Harvey L. Coustan, RSM McGladrey

Illinois Attorney General’s Office Report
» This workshop will provide an update on current legislative developments, litigation and other topics of interest to not-for-profits.

Moderator: David S. Chernoff
The John D. and Catherine T. MacArthur Foundation

Barry S. Goldberg, Office of the Illinois Attorney General

Therese Harris, Office of the Illinois Attorney General

Trudy Motyka, Office of the Illinois Attorney General

Program Location
The conference will be held at Chicago-Kent College of Law,
565 West Adams Street in Chicago.

Confirmation of Registration
A letter of confirmation will be mailed to the address given on your registration form.

Confirmation of Attendance
A certificate of attendance will be provided at registration.

Cancellations and Refunds
Written notification of cancellation is required. A full tuition refund is available if notification is received prior to May 16, 2008; 25% will be charged if notification is received between May 16 and May 30, 2008. No refunds will be granted after May 30, 2008. If your register with a purchase order or a voucher and do not cancel your registration in accordance with this policy, you will be charged 25% of the registration fee.

CPE Credit
7.0 hours on a “50-minute” credit hour. Chicago-Kent College of Law is a registered public accountant professional education sponsor in Illinois.

MCLE Credit
Chicago-Kent College of Law is an accredited CLE provider for Illinois MCLE. This conference is eligible for 6.25 hours on a “60-minute” credit hour, including 1.0 hour of ethics.

For additional information:
Please call the Office of Continuing Legal & Professional Education,
Chicago-Kent College of Law, (312) 906-5090, or send an email to clestaff@kentlaw.edu

Hotel Accommodations
Hotel accommodations for the convenience of out-of-town guests have been made at Club Quarters. The room rate at the Club Quarters, Central Loop is $160 for a Superior room, plus 15.4% tax. The additional person charge is $15 per night. Club Quarters, a private, full-service hotel designed for the business traveler with sate-of-the-art tech services, is located just four blocks east of Chicago-Kent College of Law. Please make reservations directly with the hotel. Requests for accommodations cannot be assured if made after May 2, 2008.

To make reservations:

Club Quarters
111 W Adams Street
Chicago, IL 60603
(212) 575-0006- Reservations Dept.
(212) 391-5525- Fax
www.clubquarters.com
Please mention to the hotel reservation receptionist that you are with the Chicago-Kent College of Law and use group code “CKC605”

Speakers

David S. Chernoff
Associate General Counsel
The John D. and Catherine T. MacArthur Foundation

Thomas E. Chomicz
Quarles & Brady LLP

Michael A. Clark
Sidley Austin LLP

Denis J. Conlon
Martin, Brown & Sullivan, Ltd.

Harvey L. Coustan
RSM McGladrey

Paula Cozzi Goedert
Barnes & Thornburg LLP

Barry S. Goldberg
Deputy Chief, Charitable Trust Bureau,
Office of the Illinois Attorney General

Philip N. Hablutzel
Professor of Law
Chicago-Kent College of Law

Therese Harris
Chief, Charitable Trust Bureau, Office of the Illinois Attorney General

Lois G. Lerner
Director, Tax Exempt Organizations, Internal Revenue Service

Valerie Lies
President, Donors Forum Chicago

Trudy Motyka
Forensic Auditor, Charitable Trust Bureau,
Office of the Illinois Attorney General

Floyd Perkins
Ungaretti & Harris

Mary Rauschenberg
Tax Director, Chicago Office, Deloitte Tax LLP

Madhuri K. Thaker
Blackman Kallick

John P. Vail
Quarles & Brady LLP

Brian T. Whitlock
Blackman Kallick

Elaine Wilson
Quarles & Brady LLP

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