Accounting Period Change

ISSUE: How does an organization that does not file a Form 990-series return inform the IRS of a change in accounting period?   SITUATION: Idaho Bible College & Seminary (IBCS) is a private college exempt under Internal Revenue Code section 501(c)(3) and...

The Volunteer Labor Exclusion

ISSUE: Any business activity in which substantially all the work is performed for the organization by volunteers – without compensation – is not an unrelated trade or business.   SITUATION: Troas Bible College (TBC) is a private college exempt under...

Hurricane Relief (Part 2)

Let’s continue in prayer for all of those affected by the recent hurricanes. ISSUE: An “employer-sponsored donor advised fund” may be just the answer for institutions beleaguered by qualified disasters. SITUATION: Marathon Bible College (MBC) is a private college...

Hurricane Relief – Part 1

Let’s continue in prayer for all of those affected by the recent hurricanes. ISSUE: An employer-sponsored “qualified disaster relief program” may be just the answer for institutions beleaguered by recent hurricanes. SITUATION: Marathon Bible College (MBC) is a...

More on Taxidermy Donations

More on Taxidermy Donations **Let’s continue in prayer for all of those affected by the recent hurricanes. ISSUE: A recent Tax Court ruling says “not so fast” to the valuation of donated hunting specimens. SITUATION: Denali Christian College (SCC) is a private college...