October 24, 2013 - 12:00 PM - 2:00 PM ET

The IRS Final Report on Nonprofit Colleges and Universities: Lessons for All Tax-Exempt Organizations

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The IRS Final Report on Nonprofit Colleges and Universities

Update: This event has already occurred. Please click above to listen to and view the recorded webinar, click here to view presentation materials from the event, and visit our Venable LLP Nonprofit YouTube channel to listen to and view all of our the recorded webinars on nonprofit legal topics.

In October 2008, the Internal Revenue Service began work on the Nonprofit Colleges and Universities Compliance Project. The IRS sent out an initial compliance questionnaire to over 400 tax-exempt colleges and universities. Based on the responses, 34 colleges and universities – about 8.5% of the total number of institutions that originally received the questionnaire – were then selected for examination. The IRS has now completed 90% of these examinations. In April 2013, the IRS released the Final Report on the Project, summarizing the findings from the completed examinations and representing the culmination of almost five years of research and analysis.

Although the Project has focused specifically on colleges and universities, the key points raised in the Final Report are applicable to all tax-exempt organizations. The Director of the IRS Exempt Organizations Division stated that the issues discussed “may well be present elsewhere across the tax-exempt sector.” In particular, she emphasized that “all exempt organizations need to be aware” of the Final Report’s findings pertaining to unrelated business income and executive compensation.

Please join us for this informative program on the Final Report's findings, their significance, and the lessons, tips, and other guidance applicable to all tax-exempt organizations.

Matthew T. Journy, Esq., Associate, Venable LLP
Margaret C. Rohlfing, Esq., Associate, Venable LLP

12:00 p.m. –  12:30 p.m. EDT –  Lunch and Networking
12:30 p.m. –  2:00 p.m. EDT –  Program and Webinar