Tax Tips for Higher Education

With the IRS’ new commitment to “data-driven decision making” they are likely querying all Form 990’s to ensure that institutions are reporting that they have a board-approved Conflict of Interest Policy in place.

Form 990 is an annual information return required by many Christian colleges. In too many instances, we see “shoddy” information reporting on this form which may lead potential donors – and maybe potential students – to ignore your institutions.

More and more, Christian colleges are finding themselves required to report income from unrelated business activities Form 990-T. As these schools “apply” expenses against this income, one of the oft-overlooked deductions is the “Domestic Production Activities Deduction.”

Issue Many Christian colleges, seminaries, and universities rent land or building space to generate extra revenue throughout the year (REO!).  Generally, schools are not subject to unrelated business income taxes on real property rentals – even if those...

Issue In a presidential election year, there is always the opportunity for conversing and corresponding about candidates. Beware of the rules and that your institution does not participate in prohibited political campaign intervention. Situation Marathon Bible College...