Thursday | 1:45 PM
CEOs, CFO, and Finance Directors
This session will review several international accounting topics providing 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 pros and cons of using personal accounts for the transmission of mission funds.
- Office of Foreign Asset Control (OFAC) reporting and best practices regarding frequency of inquiry and persons submitted for review.
- Employing non-U.S. citizens and foreign nationals
Participants in this session will be able to:
- Apply best practices ensuring the deductibility of gifts raised using the deputized fundraising model.
- Assess their current practices regarding the transfer of cash to international fields and apply best practices to improve their practices as needed.
- Formulate an OFAC review policy appropriate to their organization.