Recommendations for Completing Form 1098-TAdvisory Report 2013-2, developed by members of NACUBO’s Student Financial Services and Tax Councils, outlines the IRS rules and offers recommendations for accurately reporting student account information on the Form 1098-T.
Preliminary Results Show that College and University Endowments Returned 11.7 Percent in FY13College and university endowments had a net investment return of 11.7 percent in fiscal year 2013, according to preliminary data from the NACUBO-Commonfund Study of Endowments
FASB Takes Preliminary Steps to Define NFP Operating Measure As part of its project to improve not-for-profit financial reporting, the Financial Accounting Standards Board is addressing the definition and presentation of a measure of operations. The measure would change how the statement of activities is presented.
Wanted: Your Financial Statements
It's that time of year again! Please send a PDF file or website link of your annual, audited financial statements to NACUBO so your information can be shared among NACUBO's member institutions. This popular members-only tool is available exclusively on NACUBO's website. Send your financial statements to HEAccounting@nacubo.org.
November 20 Is "Protect Giving Day" in Nation's Capital
On November 20, more than 200 nonprofit and charitable sector leaders, including higher education representatives, will be in Washington for "Protect Giving Day"—an effort to warn federal lawmakers about the consequences of limiting the charitable deduction. On the same day, individuals and institutions of all sizes are encouraged to take action locally and on social media to illustrate the value of philanthropy and to #protectgiving.
ED Updates Loan Program RulesThe Department of Education issued final rules accommodating the major shift in the guaranteed loan program made in 2010, when new loans under the Federal Family Education Loan program ceased. The revisions also incorporate several changes to the Perkins Loan program regulations.
International Students in U.S. and American Students Abroad at All-Time HighA record high 819,644 international students studied in the United States during the 2012-13 academic year, according to the 2013 Open Doors Report on International Educational Exchange published by the Institute of International Education. The number of U.S. students studying abroad also reached a new high of more than 283,000.