[taxchat] fORM 990

Client has a very small 501(c)3- their purpose is to provide financial assistance to college students via scholarships.  They run 2 events during the year, a basketball camp where maybe 60 teams sign up to play and a golf tournament.  During the basketball camp, they sell hotdogs and soda to the attendees.

 

Can I include the canteen income with the registration fees that the teams pay as Program Service revenue on line 2 of the 990-EZ? I believe that I can, but need some confirmation.  I don't think it is UBTI because it is related to the event. 

 

thanks,

Donna

 

Donna J. Perrone, EA

East Haven, CT

203-469-4939

203-468-2038 fax

 

 

IRS Circular 230 Disclosure: Unless expressly stated otherwise, any tax advice contained herein, including attachments and enclosures, is not intended or written to be used, and may not be used, for the purpose of (1) avoiding tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions, or (2) promoting, marketing or recommending to another party any tax-related matters addressed herein.

 

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