Text : Law of Nonprofit Organizations – The Life Cycle of a Charitable Organizat

Text : Law of Nonprofit Organizations – The Life Cycle of a Charitable Organization) …….
Read Chapter 8 (349-404)and (IRS PUBLICATION 598 can also be referenced at irs.gov)….. please cite the text ………
PROBLEM QUESTION
You are an IRS auditor concentrating on the activities of a tax-exempt university.
Which of the following would you consider unrelated business income?
a. Tuition payments
b. Revenue from football ticket sales
c. Revenue from T-shirts with the team’s logo, sold in the school’s store
d. Revenue from royalties gained from the T-shirt company that used the school’s
logo on the T-shirts that it sells throughout the United States
e. Revenue from television broadcast rights for the football game
f. Revenue from parking fees charged to students and faculty
g. Revenue from a sponsorship agreement that requires a banner on the basketball
court that proclaims, “Joe’s Coffee—Have a Taste.”