Nonprofit Advisor

The 2017 Tax Cuts and Jobs Act (TCJA) established § 512(a)(6), which requires any exempt organization with more than one unrelated trade or business to calculate unrelated business taxable income (UBTI) separately with respect to each such trade or business. In enacting § 512(a)(6), Congress did not provide criteria for determining how to identify separate […]

In our large nonprofit audit and tax practice, we have the opportunity to interact with all types and sizes of boards of directors overseeing the operations of our clients. We sometimes are asked to comment about best practices for boards based on what we see in the sector and we thought it might be a […]

A recent survey of 250 nonprofit plan sponsors by the Plan Sponsor Council of America (PSCA) revealed that many sponsors are unaware of the how their plans are structured with respect to fees, which could leave them open to fiduciary liability. The key findings of the survey are as follows: One-third of respondents are unsure […]

Tax-exempt organizations, other than charities exempt under Code Sec. 501(c)(3), will soon be able to stop reporting the names and addresses of contributors on Schedule B when filing their information returns. Organizations exempt from tax under Code Sec. 501(a) that are required to file Form 990, Return of Organization Exempt from Income Tax, or Form 990-EZ, Short Form […]

Under the 2017 Tax Cuts and Jobs Act (TCJA), Congress imposed an unrelated business income tax on certain fringe benefits a nonprofit employer might provide to its employees. Nonprofit employers that exclude certain fringe benefit amounts from taxable employee compensation will be required to report the amount as unrelated business taxable income (UBTI). The inclusion […]