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Unrelated Business Income and Form 990-T
- The three factors required for an activity to be considered unrelated
- Important exceptions to and exclusions from UBI treatment
- What can an organization do to avoid UBI treatment through planning and structure
- Reporting requirements when there is UBI
- State tax implications
- The effect UBI can have on the organization’s exempt status
Overview of the webinar
This session will walk through the basics of UBI and the common sources of it. After laying the groundwork of the three-prong test, we’ll cover the exceptions, exclusions, and what the organization can do to minimize the tax paid from this income.
Who should attend?
- Staff or seniors in public practice who are new to nonprofit issues and will be involved with nonprofit clients and preparing returns
- Managers, senior managers, directors or partners in public practice who are exposed to nonprofits as part of their individual or business practice and want an understanding of UBI and how to identify it
- Controllers, Accounting or Finance Managers working in nonprofits who do not currently have UBI and are expanding their revenue streams, or their investment portfolio is becoming more complex
Why should you attend?
Gain an understanding of when income tax applies for nonprofit organizations with Unrelated Business Income. Nonprofits are generally exempt from income tax when they’re operating within their tax-exempt purpose. When revenue isn’t closely tied to related activities, the unrelated business income (UBI) rules can apply and income tax may be due. Nonprofit organizations often generate UBI (knowingly or unknowingly) that provide vital support for mission activities.
Faculty - Ms.Tracy S. Paglia
Tracy Paglia, CPA, is a tax partner with Moss Adams LLP. She has over 22 years of public accounting experience identifying and meeting the tax and consulting needs of Not-for-Profit and exempt Healthcare clients, their for-profit affiliates and donors. Her expertise includes areas such as attaining, maintaining and termination of tax-exempt status, preparing and analyzing the Form 990, state registration and filing requirements, intermediate sanctions, compensation issues, forming an operation in joint ventures and for-profit subsidiaries, and charitable planning options for donors.
Tracy is a highly-rated national speaker on tax-exempt issues. Her teaching and speaking experience includes sessions for the National Association of College and University Business Officers, the American Institute of CPAs, Council on Foundations, LeadingAge and American Society of Association Executives. Tracy is based in the California Central Valley office. She is the leader of the firm’s Public Sector and Not-for-Profit Industry Tax Committee and an associate member of the AICPA's Technical Resource Panel. Tracy has a bachelor degree in accounting from the University of Idaho, is a member of the American Institute of CPAs and the California State CPA Society, and holds CPA licenses in Oregon and California.
Tracy is a highly-rated national speaker on tax-exempt issues. Her teaching and speaking experience includes sessions for the National Association of College and University Business Officers, the American Institute of CPAs, Council on Foundations, LeadingAge and American Society of Association Executives. Tracy is based in the California Central Valley office. She is the leader of the firm’s Public Sector and Not-for-Profit Industry Tax Committee and an associate member of the AICPA's Technical Resource Panel. Tracy has a bachelor degree in accounting from the University of Idaho, is a member of the American Institute of CPAs and the California State CPA Society, and holds CPA licenses in Oregon and California.