Seminar in Taxation: Taxation of Not-for-Profit Organizations

Catalog description

This Course will introduce students to the operation and taxation of the not-for-profit organization. It considers the policy questions associated with exempting organizations from liability for income taxes together with permitting donors to claim tax deductions for their contributions. Both tax-exempt organizations treated as public charities and those treated as private foundations will be studied. The applicability of the unrelated business income tax on both organizations is reviewed. The annual Form 990 tax return of the exempt organization is also examined. Finally, the various state level charitable solicitation reporting and disclosure laws are considered - with particular emphasis on the NYS Charities Bureau. If time permits, current developments will also be covered. Chairperson approval required.