Issuance of Units by University to CRTs Does Not Produce Unrelated Business Income

The IRS has ruled privately in Ltr. Rul. 201007063 that a university’s issuance of units from charitable remainder trusts for which it serves as trustee, the making or receipt of payments with respect to the units, and the holding or redemption of the units, will not generate unrelated business taxable income to the university. Read the whole letter online here.