Tax Cuts and Jobs Act (Circa February 2019)

Tax Cuts and Jobs Act (Circa February 2019)

ISSUE There are four main parts of the “Tax Cuts and Jobs Act” that could – possibly – affect your school.  Have you been keeping track of those provisions?   SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section...
2018 Form 990: Changes to the Form

2018 Form 990: Changes to the Form

ISSUE For those institutions who are required to file Form 990, have you checked out this year’s changes to the Form?   SITUATION Denali Christian College (DCC) is a private college exempt under Internal Revenue Code section 501(c)(3) and 170(b)(1)(A)(ii).  They...
Statement of Functional Expenses Times Two

Statement of Functional Expenses Times Two

ISSUE Has your institution considered the TWO “Statements of Functional Expenses” required for this year’s financial statements and Form 990?   SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code section 501(c)(3)...