Do We Have “Donor Advised Funds?”

Do We Have “Donor Advised Funds?”

Issue Donor Advised Funds require special reporting on Form 990 and special care in navigating the related rules. Situation Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section 170(b)(1)(A)(ii).  They...
Form 990-T: Charitable Contributions deduction

Form 990-T: Charitable Contributions deduction

Issue For schools who file Form 990-T for UBIT activities, charitable contribution planning can make sense. Situation Marathon Bible College (MBC) is a public charity and a school under I.R.C. sections 501(c)(3) and 170(b)(1)(A)(ii). This year, for the first time, MBC...