Based on the information provided, this is an income/expense activity that does not require an MOU but may be subject to unrelated business income tax (UBIT). Complete an EZ-IE form and submit to FAB in order to set up the income/expense activity.

EZ-IE Form (PDF)

Unrelated Business Income Tax (UBIT) is the federal income tax imposed on the Unrelated Business Income generated by tax-exempt organizations. Unrelated Business Income consists of income the University generates from activities that are not related to its tax-exempt activities. Income is considered to be “unrelated” if all of the conditions listed below are met:

  • The activity is conducted as a trade or business;
  • The activity is regularly carried out, and;
  • The activity is not substantially related to the exempt mission of the university.

Key Resources

Contact for Income/Expense Activities:

Financial Analysis & Budgeting Office
440 College Street, Burlington, VT 05405
Phone: 802-656-3244
Fax: 802-656-2046

Contact for Other Accounting Questions:

Lindsey Donovan, Assistant Controller, 656-1335
Financial Reporting & Accounting Services
333 Waterman, 85 South Prospect St.
Burlington, VT 05405