Time
Thursday | 1:45 PM
Primary Audience
CEOs, CFO, and Finance Directors
Description
This session will review several international accounting topics to provide participants with:
- A review of deputized fundraising best practices following the IRS audit of Schwab Charitable during 2020 and the spotlight cast on deputized fundraising during that audit
- An update on best practices regarding internal controls over the transfers of cash to international fields, including in-person transfers and FinCEN Form 105 reporting
- A discussion of best practices and the pros and cons of using personal accounts for the transmission of mission funds
- An overview of Office of Foreign Asset Control (OFAC) reporting and best practices regarding frequency of inquiry and persons submitted for review.
- Insight on employing non-U.S. citizens and foreign nationals
Learning Objectives
- Apply best practices to ensure the deductibility of gifts raised using the deputized fundraising model
- Assess your current practices regarding the transfer of cash to international fields and apply best practices to improve them as needed
- Formulate an OFAC Policy
Taxes 1.5 CPE hours
Presented by
Handouts
Session Recording
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