Exempt Organizations 990

[treker05]

My client has been filing the 990EZ for years. Couple years ago Corp. has been renting out the building to a different Exempt Organization. That is the only income/expense that the Corp has (for at least 3 yrs). The tenant provides the same activities as my client did in the past. Question is: Is my client still an Exempt Organization since the activities are the same? Or an S-Corp?

[treker05]

more info

My client has been filing the 990EZ for years. Couple years ago Corp. has been renting out the building to a different Exempt Organization. That is the only income/expense that the Corp has (for at least 3 yrs). The tenant provides the same activities as my client did in the past. Question is: Is my client still an Exempt Organization since the activities are the same? Or an S-Corp?

Does anyone know if the rent income is considered UBI? Can you have only UBI on 990ez? I think I have to do also 990-T. What are your thoughts? Any help would be greatly appreciated.

[treker05]

more info

Exempt org this year has only rental income. The tenant is another Exempt org that provides the same activity as my client. I'm considering putting it on line 2 of 990EZ as Program related investment income instead of line 4 (unrelated business income). Does anybody agree or disagree? Thank you in advance for your response. Treker05, EA