When a not-for-profit organization has a question about whether a certain type of income is taxable, the most common response is “it depends” as this determination is not always straightforward. Let’s explore this in a little more depth.

The complexities with unrelated taxable income for NFPs

Colette Kamps is a partner with Baker Tilly and leads the not-for-profit practice in Arizona. She has more than 25 years of experience in public accounting working with not-for-profit organizations handling audits, reviews and compilations, consulting and tax returns. She serves many types of not-for-profit organizations, including healthcare, social services, arts and cultural, membership associations, schools, foundations, and religious organizations, as well as organizations requiring single audits. Additionally, Colette oversees the not-for-profit tax service in Arizona.

Colette Kamps is a partner with Baker Tilly US, LLP. She leads Baker Tilly’s not-for-profit practice in Arizona.

Bachelor of Arts in mathematics
St. Norbert College (De Pere, Wisconsin) 

Post Baccalaureate Certificate of Accountancy
Arizona State University

American Institute of Certified Public Accountants (AICPA)

Arizona Society of Certified Public Accountants (ASCPA) Audit Committee chair

Girl Scouts-Arizona Cactus-Pine Council, Inc. (GSACPC) Audit Committee

Join Baker Tilly’s not-for-profit (NFP) and higher education specialists for our virtual year-end accounting and tax update.   This annual webinar includes an overview of key accounting and tax issues for NFP organizations, colleges and universities.   Our experienced team will provide updates on the Inflation Reduction Act (IRA), Employee Retention Credit (ERC) and adoption of the Current Expected Credit Losses (CECL) standard and share lessons learned from helping clients implement the lease accounting standard (ASC 842). We will also discuss various revenue scenarios we are seeing across NFP organizations and the accounting and tax impacts.  Learning objectives After attending this webinar, you will be able to:   Discuss the latest IRS updates on the IRA and ERC and how these programs impact your organization  Better navigate the CECL requirements and identify some examples  Describe not-for-profit revenue scenarios that could impact your organization and how to prepare for them  Explore the top five tax issues not-for-profit organizations are facing in 2023   Identify key tax and accounting standard developments that are on the horizon in 2024 Who should attend Executive leadership and accounting and finance professionals, including CEOs, CFOs, COOs, controllers, audit and finance committee members and board members of any type of not-for-profit organization or higher education institution. Speakers Karen Gries, CPA, Director - Exempt Tax Advisory  Colette Kamps, CPA, Partner  Karen Lord, CPA, Senior Manager  Catherine Petercsak, CPA, Senior Manager  Allison Webb, CPA, Director (moderator)  

Colette Kamps

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Tempe, AZ

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The complexities with unrelated taxable income for NFPs

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2023 not-for-profit and higher education accounting and tax update