April 28, 2006

IRS Releases Ruling on Campus Incubators

By PAUL FAIN

A recently released ruling by the Internal Revenue Service reinforces the tax-exempt status of college foundations in their efforts to support campus-affiliated research and business incubators.

Such facilities are popular with colleges and universities as they seek to offer business opportunities to faculty members and students. However, the tax consequences for private foundations that provide seed money for incubator activities can be murky, and can include threats to foundations'

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