2013 Unrelated Business Income Tax
February 20-22, 2013
Gaylord Palms Resort & Conference Center
Having trouble getting your arms around the federal tax rules on unrelated business income (UBI)? Our team of campus tax experts will teach you how to understand and apply the fundamental concepts of UBI as well as easily identify potential UBI-generating activities. Discover how to engage colleagues around campus in helping to limit your institution’s UBIT exposure and set up practical tools such as checklists and forms to streamline processes.
Who Should Attend
- Assistant Controllers
- Auxiliary Services Managers
- Chief Financial Officers
- Tax Counsel
- Tax Managers
What You'll Learn
- Discuss how to engage colleagues around campus to help limit your institution's exposure
- Discover how to identify and manage UBIT and apply your knowledge in small group case studies
- Hear the latest IRS developments and interpretations on UBI matters
No prerequisites and/or advance preparation required.
Participants will be awarded up to 17 CPE credits. CPE credits can be earned in the following categories:
Wednesday, February 20
|12:00 pm||Registration Opens|
|1:00 pm||Welcome and Introductions|
|1:15 pm||UBI Basics and Update|
|2:45 pm||Refreshment Break|
|3:00 pm||Qualified Sponsorship Payments|
|4:15 pm||Practical Tactics for Managing UBIT|
|5:30 pm||Welcome Reception|
Thursday, February 21
|8:00 am||Continental Breakfast|
|8:30 am||State and Local Tax Issues|
|9:45 am||Refreshment Break|
|10:00 am||Advanced UBIT Issues|
|11:15 am||Athletic Department UBI Activities|
|1:30 pm||Concurrent Session: Alternative Investments Working Session|
|1:30 pm||Concurrent Session: Managing UBIT at a Small Institution|
|2:45 pm||Refreshment Break|
|3:00 pm||Concurrent Session: Focusing on UBI from Debt-Financed Income, Royalties, and Controlled Entities etc.|
|3:00 pm||Concurrent Session: Managing UBIT at a Small Institution (Repeat)|
|4:15 pm||Uncovering UBIT at Your Institution -Mock Audits and Other Tools|
Friday, February 22
|8:00 am||Continental Breakfast|
|8:30 am||Case StudiesParticipants will move into small groups to resolve hypothetical campus scenarios illustrating various concepts and issues related to UBI.|
|10:30 am||Refreshment/Check-out Break|
|10:50 am||Case Study Report Outs and Wrap Up|
|12:00 pm||Program Adjourns|
Gaylord Palms Resort & Conference Center
Gaylord Palms Resort & Conference Center
6000 West Osceola Parkway
Kissimmee 34746, FL
If you have reserved a hotel room at The Renaissance Orlando at SeaWorld, your reservation will automatically be transferred to the Gaylord and no action is required. The rate will remain the same. Confirmations will be sent from the Gaylord once this change has been made.
If you have reserved a room in the conference overflow hotel, Residence Inn, you will be provided complimentary transportation to and from the conference daily. No action is required with your reservation. Logistical information regarding transportation will be sent to you prior to the workshop.
If you have a room reserved elsewhere, or if you still need a hotel reservation, we strongly encourage you to book at the Gaylord as quickly as possible. The Gaylord Palms is sold out on February 19. The UBIT conference starts at noon on February 20, so if your travel plans allow, rooms should be available for check in the day the conference begins. Call (407) 586-2000 for reservations and mention the NACUBO room block or click here to reserve online.
Visit the Gaylord Palms Resort & Conference Center website for details, including restaurants, amenities, and nearby attractions.
For reservations, call 407.586.2000.
Rates are guaranteed until 2/20/2013, subject to availability.
Please review our registration policies.
Please Note: NACUBO professional development programs are often sell-outs. Please secure air and hotel reservations only after confirmation of registration.
Crowe Horwath LLP
SHOW FULL BIO » Nicole Bencik has over fifteen years of tax experience concentrating in services to the not-for-profit sector. She has served colleges and universities, healthcare, trade associations, private foundations, cultural arts organizations, governmental entities and other not-for-profit organizations. Nicole has consulted on a significant number of issues affecting not-for-profit organizations such as unrelated business income tax, employment tax, sales & use tax and alternative investments issues. Nicole has presented at numerous conferences and webinars on both general taxation and specific tax-exemption issues.
Moss Adams, LLP
SHOW FULL BIO » Wendy Campos is a Tax Partner with Moss Adams LLP's Portland, Oregon office. She has practiced in public accounting for over 13 years as a trusted advisor to tax-exempt organizations, including, higher education institutions, public and private foundations, hospitals, social service organizations, credit unions, and their taxable subsidiaries. She has experience providing compliance and consulting in the areas of unrelated business income, alternative investments, excess benefit transactions, the Form 990, compensation reporting, payroll compliance and reporting, charitable giving, self-dealing, distribution and grant-making, and excise tax planning. She earned her Bachelors Degree in Accounting at Linfield College and worked at a not-for-profit organization for five years before joining Moss Adams LLP. Wendy is a member of Moss Adams’ Government, Not-For-Profit, and Regulated Industry Group, a member of the Group’s Tax Committee, and the tax leader of the Northwest area not-for-profit practice. Her professional affiliations & certifications include membership in the Oregon Society of CPA's, AICPA, and NACUBO. She has attended training programs given by NACUBO, Georgetown Law Center, Loyola Law School, and the Internal Revenue Service and she has presented at the NACUBO UBI Conference, NACUBO Tax Forum, the Philanthropy Northwest Annual Conference, and hosted in-person UBI events throughout the Northwest in 2012.
SHOW FULL BIO » Erin is a tax director in PwC’s Exempt Organizations Practice with over nine years of experience providing specialized tax consulting and compliance services to nonprofit clients. She has expertise and experience in alternative investments, unrelated business taxable income, controversy resolution, tax-exempt bonds private use, intermediate sanctions, obtaining exempt status, compensation, fundraising disclosures, reporting requirements, as well as general compliance matters. She has experience serving various types of tax-exempt organizations including hospitals and educational institutions. Erin is the co-author of “Recent GAO Report reconfirms variations in measuring and reporting community benefit” in ABA Health ESource, April 2009. In addition, she contributes annually to the Summary of Emerging Issues for Nonprofit Organizations, published by PwC. Erin has presented on issues of importance to tax-exempt organizations to various groups including the American Bar Association and Boston Bar Association. Erin received her B.A from Smith College, and Juris Doctor from Suffolk University. She is a member of the Massachusetts Bar and the Boston Bar Association (Section of Taxation, Exempt Organizations).
SHOW FULL BIO » Donna is a Director in the East Region State and Local Tax Practice for PricewaterhouseCoopers LLP, dedicated to the Sales and Use Tax and Controversy practices, resident in the Philadelphia Office. She brings more than 20 years of experience as a state tax consultant, 16 of those with PricewaterhouseCoopers, primarily focusing on sales and use tax consulting and controversy and exempt organizations in Pennsylvania. In this capacity, Donna is involved in consulting with both Fortune 500 clients as well as middle-market clients in matters including sales and use tax audit defense, sales and use tax overpayment analysis and recovery, sales and use tax process review, and traditional transactional consulting, including merger and acquisition due diligence review. Prior to joining PwC, Donna spent five years at the Pennsylvania Department of Revenue, where she was employed by both the Office of Chief Counsel and the Board of Appeals. In addition, Donna was employed as Assistant City Solicitor for the City of Allentown during which she specialized in the area of local tax, including real estate, earned income and business privilege taxation. During her employment at the Department, Donna actively participated in the drafting of both statutory and regulatory language, including those regulations relating to the sales taxation of exempt organizations; help supply services, telecommunications and cigarette taxes. She has litigated matters before the Commonwealth Court as well as various Courts of Common Pleas in Pennsylvania. Donna is a graduate of Gettysburg College with a Bachelor of Arts Degree and the Dickinson School of Law where she earned her Juris Doctorate degree, focusing on taxation and government jurisprudence. Donna is frequently a speaker on matters concerning state and local tax for the Pennsylvania Institute of Certified Public Accountants, the Healthcare Financial Management Association, the Eastern Association of College and University Business Officers, the National Association of Colleges and Universities, the Energy Association of Pennsylvania, the Pennsylvania Business Privilege and Mercantile Tax Collectors Association and Council of State Taxation ("COST").
Deloitte Tax, LLC
SHOW FULL BIO » Jeff leads both the non-profit and employee benefits practices for the Indianapolis office of Deloitte Tax LLP. Jeff has over 25 years experience serving non-profit institutions including hospitals, health systems, foundations, colleges and universities, and student loan organizations. Jeff consults regularly with educational organizations on a variety of tax matters including unrelated business income tax issues, structuring joint ventures and similar transactions, tax-favored retirement programs, executive compensation matters, employment taxes and fringe benefits, international activities, and representing organizations during IRS examinations. Jeff holds a B.S. in Accounting from Indiana University and an M.S. in Taxation from Drexel University. Jeff is the Chair of the AICPA Exempt Organizations Tax Technical Resource Panel and serves on the AICPA Non-Profit Organizations Conference Steering Committee. He is also an emeritus member of the IRS Employee Plans TE/GE Council for the Great Lakes Region and serves as a board member and treasurer at Dress for Success Indianapolis.
Crowe Horwath LLP
SHOW FULL BIO » Geralyn Hurd has been a tax exempt specialist for more than 20 years and leads Crowe’s Tax Exempt team nationally. This national team serves some of the largest higher education institutions, academic medical centers, foundations and healthcare systems in the country. In 2008, she designed and developed the only IRS-approved software of its kind – the patent-pending Crowe Tax Risk Assessment & Control (C-TRAC®) solution. She is also a frequent author and speaker on topics relevant to the tax exempt community, including the NACUBO Form 990 Manual. In June 2012, Geralyn was named one of Consulting Magazine’s Top 25 Consultants with an Award for Excellence in the Public Sector.
Development & Tax Counsel
The Ohio State University
SHOW FULL BIO » Joseph R. Irvine is Development and Tax Counsel and a faculty member of the Fisher College of Business at The Ohio State University, Columbus, Ohio. His practice includes tax planning and compliance as well as resolving conflicts with the IRS and state and local tax agencies. He handles charitable gift planning, donor tax issues as well as issues regarding UBIT, compensation and benefit matters, and state and local tax matters. He was an attorney with a multistate law firm prior to joining the University. He also has experience with one of the Big Four accounting firms. He is past Chair of the Tax Council of the National Association of College and University Business Officers and the past co-chair of the Taxation Section of the National Association of College and University Attorneys. He is also a member of the Ohio State Bar Association and the past Tax Lead of the Steering Committee for the AICPA Not-For-Profit Industry Conference. He is a recipient of the NACUBO Tax Award. Mr. Irvine is a graduate of Kent State University (BBA, summa cum laude), the University of Cincinnati (MS, taxation) and Duke University Law School (JD, high honors). He is admitted to practice in Ohio and the Federal Court for the Southern District of Ohio. He is also a certified public accountant and a frequent speaker on tax issues.
University of Michigan
SHOW FULL BIO » EDWARD J. JENNINGS Edward J. Jennings is the Tax Director at the University of Michigan in Ann Arbor, Michigan. His responsibilities include providing tax planning and compliance services in addition to resolving conflicts with the Internal Revenue Service (IRS) and other state and local taxing agencies on behalf of the University and its affiliates. He is Chair of the Taxation Council of the National Association of College and University Business Officers (NACUBO). He also serves as a member of the Steering Committee for the American Institute of Certified Public Accountants (AICPA) Not-For-Profit Industry Conference as well as the Steering Committee for the Treasury Institute for Higher Education Tax Exempt Bond Compliance Workshop. He served as a member of the IRS Information Reporting Program Advisory Committee (IRPAC) from 2006 until 2008. His articles “The Taxation and Reporting of Distributions Derived from Licensing Intellectual Property” and “Managing the Tax Consequences of Alternative Investments” appeared respectively in the March/April 2004 edition and the July/August and September/October 2006 editions of Taxation of Exempts. Mr. Jennings is the recipient of the NACUBO Tax Award for 2007 and is a frequent speaker on tax issues. He graduated from St. Joseph’s University in Philadelphia, Pennsylvania, with a B.S. in Accounting and from Wake Forest University School of Law in Winston-Salem, North Carolina, with a J.D. He is licensed as a CPA and holds bar licenses in the states of North Carolina and Illinois.
University of South Florida
SHOW FULL BIO » Anne Jetmundsen is the Tax Advisor for the University of South Florida (USF) in Tampa, Florida and is Chair of the NACUBO Tax Council. She served on the IRS Information Reporting Program Advisory Committee (IRPAC) in 2011-2013. Ms. Jetmundsen has been instrumental in implementing tax compliance programs at USF for areas including unrelated business income tax, sales tax, fringe benefits, independent contractor and scholarship classification. Prior to assuming the Tax Manager position in January 1996, Ms. Jetmundsen was employed in the tax departments of TECO Energy, Inc. and KPMG Peat Marwick. Ms. Jetmundsen is a CPA and holds Bachelor of Science in Commerce and Business Administration (accounting major) and Master of Tax Accounting degrees from the University of Alabama.
Senior Tax Analyst
SHOW FULL BIO » Jodi R. Kessler is the Senior Tax Analyst for Harvard University. Her responsibilities include tracking and reporting unrelated business income and various aspects of the Forms 990. She ensures compliance with Federal, State and Local tax rules for the University and aids in special projects for various departments. Previously she worked at The Ohio State University as Tax Manager and operated her own law firm specializing in tax consultation, business planning, and criminal defense. Ms. Kessler is a graduate of The Ohio State University (BA and JD), and Capital University (LLM in Taxation).
University of Notre Dame
SHOW FULL BIO » Rick Klee has served as the Tax Director for the University of Notre Dame since 1998. As Tax Director, Rick coordinates the University's response to unrelated business income, property, sales, trust and payroll tax issues, as well as information return, benefit plan and other tax compliance services. He is a member of the NACUBO Tax Council and has participated as a speaker at the NACUBO Tax Forum, the Tax Institute for Colleges and Universities and other not-for profit conferences. Previously, Rick worked for 15 years as the CFO for a 65 physician multispecialty group, where part of his responsibilities included providing tax and financial planning services to the physicians. He also had more than seven year’s tax experience with Ernst & Young, the international public accounting firm. A CPA, he holds two degrees from the University of Notre Dame, a B.B.A. in Accounting and an M.A. in Theology. Rick is a member of the American Institute of Certified Public Accountants and the Indiana CPA Society.
Vice President, Business & Finance
Dallas Theological Seminary
SHOW FULL BIO » Dale Larson joined Dallas Theological Seminary in 2009 and serves as its vice president for Business and Finance/CFO. He is responsible for all financial matters regarding budgets, audit, tax, investments, debt management, and general accounting services. Previously he worked for thirteen years at the University of Dallas as their associate vice president for finance. A graduate of the University of Nebraska in business administration and certified in managerial accounting (CMA), Dale is a member of the Financial Accounting Standards Board’s (FASB) Not-for-Profit Resource Group which supports the FASB and Not-for-Profit Advisory Committee. Dale also served on NACUBO’s Accounting Principles Council from 2004 to 2010 and was chair in 2008. He presently serves as a member of NACUBO’s Tax Council. He has served as a speaker at NACUBO’s Higher Education Accounting Forums and has been on the forum’s planning committee since 2003. He has presented on endowment management and other higher education accounting issues at the 2008 and 2010 AICPA national Not-For-Profit Conference and also served on the AICPA Taskforce on Alternative Investments in 2006. Dale was the 2007 recipient of NACUBO’s Daniel D. Robinson Award, which recognizes individual excellence and leadership in the advancement of college and university accounting and reporting.
University of Central Florida
SHOW FULL BIO » Joel Levenson is currently the associate director for tax compliance at the University of Central Florida located in Orlando, Florida. His primary responsibilities include coordination of audits, review of UBIT methodologies, opine on Employee v Independent Contractor decisions and ensure compliance with other Federal & State taxing authorities. Prior to joining UCF in 2009, he worked as a tax supervisor at McGladrey focusing on FAS109, FIN48, C & S Corps, IRS audit response and international compliance. He was heavily involved with recruiting & training. Joel graduated from the University of Central Florida with a B.S. in Accounting and an MST. Joel and his wife spend their time watching their first child, Felicity, establish herself as a formidable ruler of the house.
Capin Crouse, LLP
SHOW FULL BIO » Dave is dedicated to meeting client needs in the exempt organization tax arena through review of client returns, consulting engagements, training, and the compilation of our annual "Higher Education Tax Reporting Trends" project. He works with colleges, churches, associations, missions organizations, and private foundations, among other entities. Dave conducts workshops and delivers products on Form 990, executive compensation, political issues, and unrelated business activities. He has also spoken extensively at accounting and tax seminars across the country, including the Florida Association of Chamber Professionals, Christian Leadership Alliance National Conference, National Association of College and University Business Officers annual Tax Forum, and the Florida Institute of CPAs Annual Not-for-Profit Conference. He also hosts a quarterly Not-for-Profit Tax Webcast. He is a member of the AICPA, the FICPA, and serves on the 2013 Religious Organizations Accounting Committee sponsored by the ECFA. Dave is a CPA in Florida, Colorado, and Georgia.
Moss Adams, LLP
SHOW FULL BIO » Tracy Paglia, CPA, is a tax partner with Moss Adams LLP, one of the top 12 accounting firms in the United States. She has over 16 years of public accounting experience, working with Coopers & Lybrand in Eugene, Oregon for two years before joining Moss Adams. Tracy has extensive experience as a tax and consulting team member for Not-for-Profit clients, including extensive experience with higher education clients and their foundations. 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 and 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, Ziegler/Leading Age National CFO Workshop and several state CPA societies. Tracy is based in the California Central Valley office. She is the leader of the firm’s NFP/Gov Tax Committee and a member of the NFP/Gov Technical Committee. 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.
Tax Senior Manager
Deloitte & Touche LLC
SHOW FULL BIO » Kristina A. Rasmussen CPA, MBA Senior Manager Deloitte Tax LLP Minneapolis, MN Kristina Rasmussen is a Senior Manager in the Minneapolis office of Deloitte Tax LLP. She has over fifteen years of experience working with not-for-profit clients including public charities, private foundations, higher education institutions, health care organizations, other tax-exempt organizations, and public sector organizations as well as related taxable entities. Kristina has assisted a diverse group of clients working on a variety of issues related to the not-for-profit industry including unrelated business income issues, tax-exempt status qualifications, IRS Coordinated Examination Program (CEP) audit issues, and tax risk assessments. She recently spent three years supporting Deloitte’s Washington National Tax Practice as a specialist in tax matters related to tax-exempt organizations. Kristina received her Bachelor of Arts degree in Accounting and Master of Business Administration degree from the University of St. Thomas in St. Paul, MN.
SHOW FULL BIO » Paul is a Manager in PwC's Exempt Organizations Tax Service practice in Boston, where he specializes in providing tax compliance and consulting services to tax-exempt clients, primarily in health care and higher education. Prior to joining PwC. Paul served in the Washington National Tax office of another Big Four firm. In that capacity, he acted as a technical resource on tax issues affecting tax-exempt organizations. Paul is a frequent speaker on not-for-profit tax issues. Paul has a JD from George Washington University and an LLM from Georgetown University.
2013 Unrelated Business Income Tax
February 20-22, 2013
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