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Donors couldn’t give tax-deductible gifts to the university itself to help with capital campaigns or for university initiatives.
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How BJU will be structured On March 1, Bob Jones University, Inc. and will remain the university’s taxable entity and will donate about half its assets to the non-taxable BJU, Inc.
The university’s assets will effectively be split between the two organizations. will include the university and most of its facilities, the art museum, elementary school and child development center.
Last May 5, the Board of Trustees approved the final plan for pursuing tax exemption and the administration has been working to implement it since then.
At the same time, the university has been seeking regional accreditation through the Southern Association of Colleges and Schools Commission on Colleges.
Now donors’ gifts will be tax-deductible, Page said.“It helps when you’re trying to raise money for an organization to have a tax-exempt status,” Page said.