Who is the “General Public?”

Who is the “General Public?”

ISSUE As more and more institutions are coming to terms with the “Parking Tax” being a sad reality and begin to look at the step-by-step calculations set forth in Notice 2018-99, many are wrestling with what constitutes “general public” parking spots.   SITUATION...
Snacks, Anyone?

Snacks, Anyone?

ISSUE With all the suspended deductions and taxability of fringe benefits going on in the wake of the “Tax Cuts and Jobs Act,” what about free snacks and Cokes that you provide for employees and guests?   SITUATION Idaho Bible College and Seminary (IBCS) is a...
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)...