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Webinar: How Unrelated Business Income Tax (UBIT) Changes May Affect Your Foundation
Monday, August 13, 2018, 2:00 PM - 3:00 PM EDT
Category: Events

 
 
 

An SECF Public Policy Webinar:
How Unrelated Business Income Tax (UBIT)
Changes May Affect Your Foundation


Monday, August 13, 2018 · 2:00pm – 3:00pm (ET)

Since January 1, 2018, organizations that offer employees transportation or parking benefits will be hit with a 21 percent Unrelated Business Income Tax (UBIT) on those benefits. This is a major departure from past law that will increase the UBIT owed by many organizations and will lead other nonprofits to pay UBIT for the first time.

As currently written, nonprofits will have to determine the value of any provided transportation and parking benefit. This is especially problematic for organizations in rural or suburban areas that, for example, have an employee parking lot. These employers will have to place a value on that lot and then pay tax on it. Moreover, UBIT is paid to the IRS on a quarterly basis so many nonprofits, unaware of this new tax, have already failed to file UBIT liability for these benefits in April and then again in June. When enacted, this provision was expected to raise several billion dollars a year from the tax-exempt community.

SECF and colleague organizations are working to make sure the Treasury Department appreciates how important timely guidance is to the sector. Lawmakers are urging the sector to weigh in with the Treasury Department so regulators have a clear sense of the consequences of this new law.

During this webinar, SECF Public Policy Director Matthew L. Evans and Sandra Swirski of the Washington, D.C., advocacy firm Urban Swirski & Associates, will provide an overview of the new law, explain UBIT, how it may impact your foundation, and how you may participate in the advocacy efforts surrounding this onerous regulation.

   
Questions? For questions relating to this event or relating to public policy, please contact Matthew L. Evans, SECF’s director of public policy and special projects, at (404) 524-0911 or [email protected].
 

Southeastern Council of Foundations
100 Peachtree St. NW · Suite 2080 · Atlanta, GA 30303
SECF.org · (404) 524-0911

The Southeastern Council of Foundations strives to support Members and grantmakers with access to education, resources and networking by serving as a convener and facilitator, offering a diverse range of voices and perspectives. We do not endorse colleague organization views, but rather aim to provide access to a broad range of information and resources to increase grantmaking impact and develop philanthropic leaders throughout the region.

 

Contact: [email protected]