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Unrelated Business Income Tax ("UBIT")Tax Department

Unrelated Business Income Tax ("UBIT")Tax Department 2026

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The document is a preliminary questionnaire from Northern Illinois University regarding Unrelated Business Income Tax (UBIT). It aims to identify revenue-generating activities within departments that may need to be reported on the University's Exempt Organization Business Income Tax Return (Form 990-T) filed with the IRS. Respondents are required to indicate whether their department engages in various specified activities that could generate unrelated business income.

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Click ‘Get Form’ to open the Unrelated Business Income Tax (UBIT) Preliminary Questionnaire in the editor.
Begin by filling in your RESPONDENT NAME/TITLE, DEPARTMENT, EMAIL, REVENUE COST CENTER, and FISCAL YEAR at the top of the form.
In the ACTIVITY section, provide a brief description of the revenue-generating activity you are reporting.
Review the list of activities provided. For each item, check 'Yes', 'No', or 'Maybe' based on whether your department generates revenue from that activity.
If you answered 'No' to all activities, simply return the completed form to the Controller’s Office. If you answered 'Yes' or 'Maybe' to any activities, proceed to complete the attached detailed questionnaire.
If applicable, ensure that you complete a separate questionnaire for each source of potential unrelated business income.

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What is the UBIT small business exception?

Here are the key exceptions, with practical applications: When your organization relies primarily on volunteer labor, the income generally isnt subject to UBIT. For instance, if your organization runs a thrift store staffed mainly by volunteers selling donated items, this income would typically be exempt.

What is an example of an unrelated business?

That part in excess of what is needed to accomplish the exempt purpose would be considered an unrelated trade or business. Example: A student group is formed to learn how to publish a magazine. The publication contains primarily original creative writing works of the students.

What triggers UBIT in an IRA?

Q1: What is UBTI? A1: Unrelated Business Taxable Income is generated when a tax-exempt entity, such as an IRA, invests in a partnership that invests in an active trade or business that is unrelated to the IRAs tax-exempt purpose, and/or the partnership uses debt to finance a portion of its investment.

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What is considered unrelated business taxable income?

Unrelated business income is income that is from a trade or business that is regularly carried on and that is not substantially related to the purposes that form the basis of the organizations tax-exempt status.

When did Ubit start?

First enacted by Congress in 1950 to eliminate unfair competition between tax-exempt and for-profit organizations, Unrelated Business Income Tax (UBIT) is defined as gross income your department earns from any unrelated trade or business that is regularly carried on at any point in time.

What is an example of unrelated business taxable income?

Examples of activities that could generate UBTI include: Buying and selling a docHub number of real estate properties in a year.

How to calculate unrelated business income?

Find the difference: Subtract total deductions and exemptions from gross unrelated income. The resulting difference is your total income subject to UBIT. Apply the UBIT rate: UBTI is taxable at corporate rates, so consult the latest IRS corporate income tax table to determine your UBIT rate.

Unrelated Business Income Tax ("UBIT")Tax Department 2026

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