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Free cpece webinars
Helping a Client Establish a Charity


Cost Free
Presentation Length 1.0 hour

Recorded DateJanuary 14, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

This program covers the 30 steps involved in setting up a Section 501(c)(3) charity organization and how the accountant can best advise a client. Included will be IRS and state filings, initial contribution deductibility before the organization is approved, and methods of raising revenues. We will also discuss volunteer and paid staff, the public database, tax-exempt purchases, and raffle license procedures. Lastly, we will cover getting a terminated NFP reinstated, resources available to assist the NFP in its organizational period, maintaining records and financial reports, and directors’ responsibilities.

Learning Objectives:

  • Identify each of the 30 steps of setting up a Section 501(c)(3) charity—a veritable checklist to follow

  • Identify how initial contributions can be deducted even before IRS approval

  • Recognize how to avoid unrelated business activities that can be taxed to the charity

  • Determine the proper process of getting a charity reinstated after an inadvertent termination

  • Identity the personal responsibilities of directors

  • Determine when a public charity can become a private charity and when it cannot

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Ed is a partner in Withum’s East Brunswick, NJ, office and has over 40 years of public accounting experience. He is a licensed, certified public accountant in New Jersey and New York. He is accredited by the American Institute of Certified Public Accountants (AICPA) in business valuation and as a personal financial specialist (PFS). Ed is also admitted to practice before the United States Tax Court and has testified as an expert witness in federal and state court regarding business valuations.

A graduate of City College of New York, Ed earned his bachelor of business administration degree. He is a member of the AICPA, the New Jersey Society of Certified Public Accountants (NJSCPA), and the New York State Society of Certified Public Accountants (NYSSCPA). Ed was a founding partner of Mendlowitz Weitsen, LLP, CPAs, which joined Withum in 2005. Currently, he serves on the NYSSCPA Estate Planning Committee and was chairman of the committee that planned the NYSSCPA’s 100th Anniversary. The author of 16 books, Ed has also written hundreds of articles for business and professional journals and newsletters. He is the contributing editor to the Practitioners Publishing Company’s 1998/1999 706/709 Deskbook, and the AICPA 2004 edition of The Management of an Accounting Practice Handbook. He is on the editorial board of Bottom Line/Personal and Tax Hotline financial newsletters. Appearing regularly on television news programs, Ed has also been quoted in numerous major newspapers and periodicals in the United States. He is the Lawler Award recipient for the best article published in 2001 in the Journal of Accountancy.

Ed is a frequent speaker to many professional and business groups, including the AICPA, NJSCPA, NYSSCPA, American Management Association, the National Committee for Monetary Reform, University of Medicine and Dentistry in NJ, and many more. For 11 years, he taught financial analysis courses, corporate financial policy and theory, monetary and fiscal policy, and managerial accounting in the MBA program at Fairleigh Dickinson University.

About Our Presenter

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Withum is a forward-thinking, technology-driven advisory and accounting firm, committed to helping clients be more profitable, efficient and productive in the modern business landscape. With office locations in major cities and financial centers across the country, and as an independent member of HLB, the global advisory and accounting network, Withum serves businesses and individuals on a local-to-global scale. Our professionals provide the expert advice and innovation solutions you need to Be in a Position of StrengthSM in today’s fast-paced, tech-driven world.