It’s “Gift Week!”

It’s “Gift Week!”

ISSUE It’s “Shark Week” on TV, but as we’ve said before, gift receipting can be as unpredictable and as dangerous as sharks – if you are not diligent and careful.   SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue...
Pending Repeal Legislation?

Pending Repeal Legislation?

ISSUE Congress keeps stumbling around in vain attempts to “help undo the harm the 2017 tax law is causing nonprofits.”  Bills continue to be introduced to repeal the “Parking Tax,” silo-ing, and other foibles.   SITUATION Marathon Bible College (MBC) is a private...
Grants and Scholarships to “Insiders”

Grants and Scholarships to “Insiders”

ISSUE Discerning who might be “interested persons” for purposes of Schedule L (Form 990), Parts II – IV can be challenging.  Ultimately, your institution should have an annual questionnaire that gathers the required information in a complete and accurate manner....