International Accounting Update

Thursday | 1:45 PM

Primary Audience
CEOs, CFO, and Finance Directors

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

Ted R. Batson, Jr
Tim Sims


Session Recording