On Fri, Sep 4, 2009 at 9:51 PM, Gregory Kohs <[email protected]> wrote: > > A little bird suggested I ask if the Foundation will be filing a Form > 990-T once it finds a tenant, as it would be a business activity over > $1,000 unrelated to a non-profit mission and would thus possibly > trigger IRS rules regarding Unrelated Business Income Tax (which are > rather strict). Among other things, the 990-T is a public form, so it > would force the Foundation to disclose further information on its > operations. >
Ah Greg Greg Greg. You should have run this one past me first. Rents generally are not subject to UBIT. This is not, however, a reliance opinion, and can't be used to avoid penalties. _______________________________________________ foundation-l mailing list [email protected] Unsubscribe: https://lists.wikimedia.org/mailman/listinfo/foundation-l
