Hurricane Relief – 2018

Hurricane Relief – 2018

ISSUE Our prayers go out to victims of Hurricane Florence.  As we pray for them and consider funding relief efforts, the IRS warns of possible charitable scams.   SITUATION Saltwater Christian College (SCC) is a private college exempt under Internal Revenue Code...
Form 990: Net Assets and ASU 2016-14

Form 990: Net Assets and ASU 2016-14

ISSUE The IRS appears unable to update the 2018 Form 990 to accommodate recent changes to the classifications of net assets.  How shall we then report?   SITUATION Marathon Bible College (MBC) is a private college exempt under Internal Revenue Code section 501(c)(3)...
Accountable Reimbursement Plans

Accountable Reimbursement Plans

ISSUE The IRS is looking closely at substantiation of employee expenses and reimbursements.  Does your institution have proper policies/procedures in place? For a sample Word file of an Accountable Reimbursement Plan Policy, go to:...
Election Year: Candidate Appearances

Election Year: Candidate Appearances

ISSUE The “repeal” of the “Johnson Amendment” has not happened (yet).  In this election year, institutions should be aware of the rules regarding political campaign intervention.   SITUATION Marathon Bible College (MBC) is a private college exempt under Internal...