Home Page
Gifts & Grants
Fund Raising
Managing Nonprofit Groups
Technology
Philanthropy Today
Jobs
Guide to Grants
The Nonprofit Handbook
Facts & Figures
Events
Deadlines
Current Issue
Back Issues
Directory of Services
Guide to Managing Nonprofits
Continuing-Education Guide
Fund-Raising Services Guide
Technology Guide
About The Chronicle
How to Contact Us
How to Subscribe
How to Register
Manage Your Account
How to Advertise
Press Inquiries
Feedback
Privacy Policy
User Agreement
Help
|
|
|
|
|
|
October 01, 2008
IRS Releases Details on College Probe
The Internal Revenue Service today released details of a 42-page questionnaire it is sending to roughly 400 colleges to collect information on their executive compensation, endowments, and outside business income.
Among other things, the questionnaire examines how a range of small, medium, and large institutions report income and losses on business activies that may be taxable and how they manage and spend their endowments.
The agency also will examine, in-depth, how colleges pay their presidents and other top executives, including perks such as first-class travel, personal use of a credit card and other services, such as housekeeping and lawn maintenance.
Like a similar questionnaire the IRS required of some tax-exempt hospitals, the reports for individual colleges will not be made public. The agency will compile a summary of its findings and possibly audit some institutions to ensure that they are following existing tax laws.
— Eric Kelderman
Commenting is closed for this article.
Previous: Suggestions for the Next President
Next: Senate Pass Charity Tax Provisions Along With Wall Street Bailout
Copyright © 2009 The Chronicle of Philanthropy