Services performed as a member of a religious order in the exercise of duties required by the order are considered ministerial services by the IRS. Learn more about the tax considerations for members of religious orders.
Church bookstores can be wonderful resources for attendees and the church. It’s important to be aware, however, that your church bookstore may generate what the IRS considers unrelated business income (UBI), which is taxable. This article will help you understand the requirements for operating in a tax-exempt manner and how to remain in compliance.
There is a noticeable and consistent trend for church business administrators or the finance and accounting teams to be over-worked, overwhelmed, and in some cases a little underappreciated. God designed ministries to function in a way that allows them to serve people effectively. These suggestions can help alleviate some common problems in ministry and enable your organization to operate more efficiently.
The new health reform legislation includes a tax benefit for eligible small employers who buy medical insurance for their employees. The potential of a refund makes this worth looking into.
The New York Non-Profit Revitalization Act of 2013 aims to reduce burdens on the nonprofit sector while strengthening governance and accountability. Every New York nonprofit entity should be aware of the changes to the laws. Here are the new requirements to consider to ensure your organization’s compliance.
This white paper examines three persistent myths about tuition, student debt, and the cost of private college, and provides data and best practices to help you address three big issues private institutions are facing. It also covers recent accounting standards updates and FASB projects that affect private higher education.
See how the participants in our 2013 survey responded to questions about chapel services, conflict of interest policy updates, the use of outside vendors for food services, receipt of non-cash gifts, youth summer camps, sports programs and more. We also provide key points from the IRS's Colleges and Universities Compliance Project Final Report.
This Addendum to our 2013 Higher Education Update provides information on the most recent higher education developments, including developments on the disruptive innovation front, the rapid increase in regulation, and results from the Association of Governing Boards (AGB) Survey of Higher Education Governance.
The 2013 edition of this annual update provides recommendations on dealing with the uncertain economic future, including insight on tuition increases, cost controls, and endowment spending.
This edition looks at the impact of the economy and then explores six major themes influencing higher education today, including the effect of regulation, tuition discounts, and the role of social policy in the public arena.
