42. Split Interest Agreements

Track: 
Accounting & Auditing
Field of Study: 
Accounting
CPE Credit: 
1.5
Knowledge Level: 
Intermediate
Advanced Preparation: 
None
Prerequisite: 
Basic knowledge of not-for-profit operations, auditing, accounting and/or compliance requirements. General experience working in, or auditing, not-for-profits, including those NFPs audited under GAGAS.

Tuesday, June 19, 2018
 
2:45PM-4:00PM

Do you have a split-interest agreement, such as a CRT, CLT or unitrust? These split-interest agreements are created when a donor contributes assets directly to a not-for-profit organization or places them in a trust for the benefit of the not-for-profit organization, but for which the organization may or may not be the sole beneficiary. Join us for this session as we discuss:

  • Split-interest agreements: definitions and the different types of agreements
  • How to account for split-interest agreements
  • Tips and suggestions for reviewing and recording these agreements
  • Disclosure requirements within the financial statements, footnotes and the Form 990

Learning Objectives:

  • Determine how to record and report these types of agreements after Year 1.
  • Learn the disclosure requirements for both the financial statement footnotes and the Form 990.


SESSION SPEAKER(S)

CPA
NFP Audit Partner, Grant Thornton LLP
CPA
Partner, Grant Thornton LLP