2021 Unrelated Business Income Tax

Overview

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.

You’ll walk away with a better understanding of this often misunderstood, but critical area of tax compliance.

Tax Webcast Workshop

What You Will Learn

NACUBO’s professional development programs are designed to deliver the skills, concepts, and best practices for success to individuals in the business of higher education. The following course information is provided to help you determine the best learning experience to meet your needs

Discover how to identify and manage UBIT
Discuss how to engage colleagues around campus to help limit your institution's exposure
Review the latest IRS developments and interpretations on UBI matters

CPE Information

Estimated 6 CPE Credits in Taxes

NACUBO is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.nasbaregistry.org.

Registration

Registration Assistance: 877.797.7698 or support@nacubo.org

Cancellation Policies

$199

$340

Schedule

Day 1

12:00 PM

Welcome

12:05 PM

UBIT Fundamentals

Presenter(s):

Rosalyn Patterson, Washington University in St. Louis

Meghan McCollum, University of Central Florida

Colleges and universities, while generally tax-exempt, are subject to tax on unrelated business income (“UBI”). Examining the under-reporting of UBI is a frequent part of any IRS enforcement activity at a college or university. Whether as a refresher, or if you are learning about it for the first time, this session will explain the regulatory framework for UBI.

Session Duration: 75 minutes; 12:05 - 1:20pm ET

1:45 PM

Planning and Procedures to Manage Your UBIT Compliance Process

Presenter(s):

John Barrett, University of California Office of the President

Michael Hoffman,

Leah Heald, Emory University

Recent legislation including the Tax Cuts and Jobs Act (TCJA), and Taxpayer First Act have altered the unrelated business taxable income landscape. UBTI reporting requirements are now more complex than ever before, and impact institutions large and small. This session will explore best practices in how to manage the overall UBTI analysis and compliance process.

This session will include a discussion on identifying key stakeholders at the university, how to identify sources of UBI, and the coordination needed among teams. Lastly, the session will highlight current hot topics, and future changes to the Form 990-T that will impact your institution’s reporting. Participants will take away practices and procedures that can be applied to colleges and universities of all sizes to improve UBI reporting and prepare an audit ready file.

Session Duration: 60 minutes; 1:45 - 2:45pm ET

3:00 PM

Rents with Services and/or Personal Property: A Method for the Madness

Presenter(s):

Michelle Verdisco, University of South Florida

Anne Jetmundsen, University of South Florida

Jodi Kessler, Massachusetts Institute of Technology

Review rules for excluding rental income from UBI and dive deep into the methods to automate calculation for “exceptions to the real property rental income exception” when personal property is more than incidental and/or services rendered are primarily for the convenience of the occupant or not customarily rendered in connection with rental of rooms or other space for occupancy only.

Session Duration: 75 minutes; 3 - 4:15pm ET

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Day 2

12:00 PM

What's In Your Basket?

Presenter(s):

Louis Curcio, New York University

Daniel Romano, Grant Thornton LLP

Dayo Adesuyi, University of North Texas System

With the recent publication of final regulations, institutions can now review their income streams to properly categorize them into activities or lines of business or “basket” them as required under the Tax Cuts and Jobs Act. The final rules afford institutions an opportunity to review current and past groupings of revenue streams to minimize the tax due as well as maximize the benefit of loss activities that may fall under the same broad classification.

Session Duration: 75 minutes; 12 - 1:15pm ET

1:45 PM

Unrelated Business Income from Investments and the Challenges of Segmentation

Presenter(s):

Michelle L'Etang, The University of Alabama

Joanne Krueger, PricewaterhouseCoopers LLP

Lila Mauro, University of Southern California

With the passage of The Tax Cuts and Jobs Act, unrelated business income must be segmented by activity so that the losses from one activity may not offset income from another activity. This applies to the UBI generated by tax-exempt colleges and universities from limited partnership investments as reported on their K-1s. This session will explore how

segmentation interplays with UBI from LP investments. This will include a deeper dive into the treatment of qualified partnership interests, debt financed income and the best practices for requesting and interpreting data.

Session Duration: 60 minutes; 1:45 - 2:45pm ET

3:00 PM

Corporate Sponsorship

Presenter(s):

Joel Levenson, University of Central Florida

Tracy Paglia, Moss Adams LLP

Colleges and Universities look to corporate sponsors for additional funding sources frequently. By placing a banner in your auditorium or on your website, does that create an issue for UBIT purposes? What about that announcement during a sporting event telling people how to quench their thirst? Have you noticed that your campus only has one soft drink provider? Any one of these arrangement can provide challenges for campuses to comply with UBIT. This session will go through the basis of corporate sponsorship agreements, get into some complex arrangements and give practical knowledge on how to comply with this revenue stream.

Session Duration: 75 minutes; 3 - 4:15pm ET

Show Full Day

Upcoming

NACUBO Endowment Master Class Series

February 9–May 18, 2021 | 1:00 - 2:00pm ET | See Schedule for Full Session Details

Endowment Spending: Should You Change Your Policy Now?

April 20, 2021 | 1:00pm–2:00pm ET | Part of the Endowment Master Class Series

Getting to Green: The Business Office Role in Achieving STARS Success

April 23, 2021 | 1–2 pm ET

2021 Unrelated Business Income Tax

Overview

What You Will Learn

Prerequisites

CPE Information

Registration

$199

$340

Schedule

Day 1

Welcome

UBIT Fundamentals

Presenter(s):

Planning and Procedures to Manage Your UBIT Compliance Process

Presenter(s):

Rents with Services and/or Personal Property: A Method for the Madness

Presenter(s):

Day 2

What's In Your Basket?

Presenter(s):

Unrelated Business Income from Investments and the Challenges of Segmentation

Presenter(s):

Corporate Sponsorship

Presenter(s):

Upcoming

NACUBO Endowment Master Class Series

Endowment Spending: Should You Change Your Policy Now?

Getting to Green: The Business Office Role in Achieving STARS Success

Helpful Links

Contact Us

2021 Unrelated Business Income Tax

Prerequisites

$199

$340

Day 1

Welcome

UBIT Fundamentals

Presenter(s):

Planning and Procedures to Manage Your UBIT Compliance Process

Presenter(s):

Rents with Services and/or Personal Property: A Method for the Madness

Presenter(s):

Day 2

What's In Your Basket?

Presenter(s):

Unrelated Business Income from Investments and the Challenges of Segmentation

Presenter(s):

Corporate Sponsorship

Presenter(s):

NACUBO Endowment Master Class Series

Endowment Spending: Should You Change Your Policy Now?

Getting to Green: The Business Office Role in Achieving STARS Success

Helpful Links

Contact Us

Endowment Spending: Should You Change Your Policy Now?