Nonprofits Industry
Brought to you by: explaining corporate sponsorship regs. (Taxing Issues).(regulations)(Brief Article)
Non-profit Times, The, July, 2002 by Berger, Harvey
Does your organization receive any money from sponsors of events, such as dinners, conventions and meetings? Do you have sponsors for your publications, Web site and other activities? If you do, as many organizations now do, you probably have been following the corporate sponsorship debate.
The Internal Revenue Service (IRS), finally, on April 25 ended this saga that lasted more than 10 years. In 1991, the IRS decided that college athletics, specifically the Cotton Bowl football game, were receiving financial windfalls from the corporate sector that should be taxable as unrelated business income in the form of advertising.
The IRS proposed taxing the large payment that Mobil Oil Corporation had made to sponsor the Cotton Bowl. In fact, the name had...
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