Unrelated Business Income and Form 990-T

Even organizations that are recognized as tax-exempt under §501(c)(3) are not automatically exempt from all taxes. When these entities generate income from activities that are not substantially related to their exempt purpose, they may be subject to Unrelated Business Income Tax (UBIT). Understanding the rules that govern UBI is essential, as the guidelines are complex and missteps can lead to costly penalties or lost exemptions.

This comprehensive webinar will guide attendees through the critical criteria used to determine whether income qualifies as UBI. The session will also demystify the complex silo rules that require reporting of each unrelated trade or business separately. Additionally, participants will receive step-by-step instruction on completing Form 990-T, including Schedule A, to ensure accurate reporting and compliance with IRS requirements. This is an essential session for any nonprofit professional responsible for financial compliance and reporting.

Your Benefits For Attending:

• Identify what qualifies as UBI for a §501(c)(3) exempt organization
• Understand the exceptions and exclusions to correctly report UBI
• Recognize expenses available to offset UBI
• Prepare Form 990-T to calculate and report UBIT, including reporting separate trades or businesses on Schedule A

Why is this webinar a must-attend?
Gain the knowledge and confidence to accurately identify and report UBI, minimizing any potential tax liability and ensure compliance with federal regulations.

Who Should Attend?

• Chief Financial Officer (CFO)
• Controller
• Tax Manager
• Director of Finance
• Financial Manager
• Accountant / Senior Accountant
• Bookkeeper
• Enrolled Agent (EA)
• Certified Public Accountant (CPA)
• Nonprofit Tax Specialist
• Compliance Officer
• Executive Director / CEO (of nonprofit)
• Nonprofit Operations Manager
• Grants Manager (if involved in revenue reporting)
• Audit Manager / Internal Auditor
• Financial Analyst (Nonprofit)
• Budget Director
• Tax Compliance Analyst
• Payroll Manager (if involved in tax filings)
• Finance and Accounting Staff