Colleges and Universities Compliance Project – IRS report may apply to broader nonprofit sector

Description

Abstract: In 2013, the IRS released its final report about its Colleges and Universities Compliance Project, which was designed to gather information about endowments, executive compensation and unrelated business income (UBI) at randomly selected institutions of higher learning. The IRS identified significant problems with the compensation of high-level individuals and with UBI tax filings. The agency’s findings should be of interest not only to colleges and universities, but to all tax-exempt organizations, because the IRS has indicated that it might expand its compliance project.