There are two overarching goals to this case study. First, the authors want to introduce students as early as possible in their study of business to the perils of deliberate misstatements of income in financial statement and the significant consequences that await those who do. Given the recent business scandals involving mortgage-backed…

Universities in the United States are hardly novices in international initiatives, yet overseas projects today, although enticing, often seem novel to them, long experience notwithstanding. A number of motivators drive the new zeal to go overseas. Among these are a resolve to stay competitive in this era of heightened inter-institutional…

Policies pertaining to three basic problems in land leasing practices are examined--(1) to compare income from leases on state school lands with income from leases of similar privately owned land, (2) to identify policies regarding the disposition of conflicting bids on state school land, and (3) to identify policies regarding subleasing school…

Reviews the historical development of the federal regulation of retirement plans (including the Employee Retirement Income Security Act of 1974), analyzes and evaluates the current regulatory scheme (justifiable and unjustifiable distinctions including those among types of plans), and suggests appropriate changes in the continuing quest for…

Individuals who go into music careers will find that they are affected and sometimes governed by particular laws and legal agreements. Provides, as an example of a legal concern of a music career, an examination of a songwriter' contract, particularly the question of sources. (Editor/RK)

Congress enacted the Employment Retirement Income Security Act of 1974 (ERISA) to help assure economic security in retirement. This analysis includes description of the growth, operation, and inequities within the private pension system and analysis of ERISA: (1) participation, vesting and joint and survivor annuities; (2) funding and plan…

In 1969, in a report to The Ford Foundation entitled "The Law and the Lore of Endowment Funds," William L. Cary and Craig B. Bright summarized the results of an extensive survey of the law governing college and university endowment funds. The key conclusion of the report is that "there is no substantial authority under existing law…

Section 170 of the 1954 Internal Revenue Code is discussed with regard to the consequences of various types of inter vivos charitable gifts. Frequent complications occur when the donor claims the gifts as deductions on his income tax. Available from: the University of Richmond School of Law, Richmond, Virginia 23173. (LBH)

Trends in the federal tax law doctrines of unrelated trade or business and private inurement are surveyed with the conclusion that certain proscribed transactions with insiders would cause deprivation of tax-exempt status while other activities, bearing more on private than public interests, may cause some tax liability rather than total loss of…

This 80-item bibliography on problems of federal tax law affecting colleges and universities cites articles from legal journals and the Filer Commission report. Sections are titled Exempt Status of Institutions and Related Entities (22 citations), Charitable Giving and Bequests (32), Scholarships and Fellowships (6), General Tax Developments (6),…

In Simon v. Eastern Kentucky Welfare Rights Organization the Supreme Court concluded that several low-income individuals and organizations representing them lacked standing to maintain a class action challenging the validity of a revenue ruling by the Internal Revenue Service. The impact of this case is discussed along with an alternative course.…

In supporting the principle of equal monthly retirement benefits for women and men faculty, the author examines legal and other questions involved in determining whether separate mortality tables are equitable and whether equal contributions or equal monthly benefits is the proper measure of equality. (JT)

This article presents an analysis of six major issues involved in ASBO's resolution opposing mandatory Social Security: fiscal implications for taxpayers; impact on the economy; mandatory coverage as a solution; patriotism as an issue; promises violated by Social Security; and the legal issues of mandatory coverage. (Author/MLF)

Problems of the university which conducts a patent management program are considered: the application of the tax on unrelated business income to patent-related activities; the effect of patent-related activities on tax-exempt status, and the treatment of payments received from patent activities. Guidelines for patent programs and licensing are…

The Internal Revenue Service has begun to question more seriously the accounting methods used by universities to determine unrelated business income tax (UBIT). Current and future impact of the UBIT are discussed, and a method of calculating the tax is detailed. (Author/MSE)