UBIT: The Minimum Required Level of Knowledge
As we celebrate our 100th post, how about a UBIT Refresher?
Situation
Troas Bible College (TBC) is a private college exempt under Internal Revenue Code section 501(c)(3) and section 170(b)(1)(A)(ii). They are required to file Form 990 annually. Their new CFO calls us and says, “I’m new to higher education – with a background in banking – and this UBI stuff seems daunting. How can I find out more about it – and fast?”