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LDSBC 2014 .pdf


Original filename: LDSBC_2014.pdf
Title: IRS Form 990T for Lds Business College (870280678) for 12/2014 from CitizenAudit.org
Author: citizenaudit.org/870280678/

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OMB No 1545-0687

Exempt Organization Business Income Tax Return

'1 990 T
Form

(and proxy tax under section 6033(e))

-

For calendar year 2014 or other tax year beginning
Department of the Treasury
Internal Revenue SerVIce
A

D Check box if
address changed

B Exempt under section

sou c )l 3 )

D 408(e)

E] 220(e)

D 408A
CI 529(a)

C] 530(a)

, 2014, and ending "091131" , 20

Jan 1

14

> Information about Form 990-T and its instructions is available at www.irs.gov/fomi9901.
> Do not enter SSN numbers on this form as it may be made public it your organization is a 501(c)(3).
Name of organization ( D

Check box if name changed and see Instructions)

Open to Public Inspection lor

501(c)(3) Organizations Only

D Employer Identification number
(Employees' trust. see instructions )

Print LDS BUSINESS COLLEGE
or
Type

Number. street. and room or swte no If a P 0 box. see Instructions

87-0280678
E Unrelated busrness activity codes
(See instructions )

95 NORTH 300 WEST
City or town. state or provmce, country, and ZIP or foreign postal code

SALT LAKE CITY UT 84101-3500
722513
C Book value of all assets
F Group exemption number (See instructions.) >
at end of year
I] 401 (a) trust
D Other trust
E] 501(c) trust
2,728.42 G Check organization type b [I 501(c) corporation
H Describe the organization's primary unrelated busmess activity. > RESTAURANT
I
During the tax year, was the corporation a subSIdiary in an affiliated group or a parent-subSIdiary controlled group? . . >
Yes [I No
If "Yes," enter the name and identifying number of the parent corporation. > The Church or Jesus Christ of Latter-day Salnts 23.7300405

J The books are in care of > LDS BUSINESS COLLEGE

Telephone numbe' D

Unrelated Trade or Business Income

(A) income

1a
b
2
3
4a
b
c
5
6
7
8
9
10
11
12
13
Part

Gross receipts or sales
140,339
Less returns and allowances
gc Balance D
. . .
Cost of goods sold (Schedule A, line 7)
Gross profit Subtract line 2 from line 10
. . . . .
Capital gain net income (attach Schedule D)
Net gain (loss) (Form 4797, Part II, line 17) (attach Form 4797)
Capital loss deduction for trusts
.
Income (loss) from partnerships and S corporations (attach statement)
Rent income (Schedule C) . . . . .
. .
.
Unrelated debt-financed income (Schedule E).
Interest, annumes, royalties, and rents from controlled organizations (Schedule F)
Investment income of a section 501(c)(7), (9), or (17) organization (Schedule G)
Exploited exempt activity income (Schedule I) . . . .
Advertismg income (Schedule J) . . .
. . . . .
Other income (See instructions; attach schedule) . . . . .
Total. Combine lines 3 through 12
. . . .
II Deductions Not Taken Elsewhere (See instructions for

14
15
16
17
18

Compensation of officers, directors.
Salaries and wages
. . . . .
Repairs and maintenance
. . .
Bad debts
.
.
. . .
Interest (attach schedule) ' .

1c
2
3
4a
4b
4c
5
6
7
8
9
10
11
12
13
limitations

801-524-8109

(B) Expenses

(C) Net

140,339
73,717

66, 522
66, 622
on deductions.) (Except for contributions

SC!- NIIIED JUN 01 2015

deductions must be directly connected With the unrelated busmess Income.)

.

and trustees (Schedule K)
.
. .
.
. .
. . . .
. .
.
. . . . . . . . .
.

.
.
.
.
.

.
.
.
.
.

$NMJ .

.

.
.
.

.
.
.
.

.
.

.
.

.
.

.

.
.
.

.
.
.
.
.

.
.
.
.
.

.
.
.
.
.

.
.
.
.

.

.

19

. .
709

20

19

Taxes and licenses.

.

.

.

.

.

.

.

.

.

20
21
22

Charitable contributions (Seeit'j ructionsforlimitation-n] s) .
.
Deprecration (attach Form 4562
E33.
.
Less depreCIation claimed ohg- heduleg EdieIst&re dW'eturn .

.
.
.

.

. .
21
22a

.

.

.

.

23

Depletion .

.

.

.

.

.

.

.

24
25
26
27
28
29
30
31
32
33
34

Contributions to deferred compensggo iarsgaglfLi;
.
. .
. . .
. .
Employee benefit programs.
- rem-M .
. . . . . . . . .
. .
Excess exempt expenses (Schedule I)
. . . .
. .
. . . . . . .
.
Excess readership costs (Schedule J)
. .
. . . .
. .
. . . .
Other deductions (attach schedule) . . . . . . .
. . .
.
.
.
Total deductions. Add lines 14 through 28
. . .
Unrelated busmess taxable income before net operating loss deduction. Subtract line 29 from line 13
Net operating loss deduction (limited to the amount on line 30)
. . .
.
Unrelated business taxable Income before specmc deduction Subtract line 31 from line 30. . .
Specific deduction (Generally $1,000, but see line 33 Instructions for exceptions) . .
Unrelated business taxable'income. Subtract line 33 from line 32. If line 33is greater than line 32,
enter the smaller of zero or line 32. . . . . . . . . . . . . . . . . . . . . .

For Paperwork Reduction Act Notice, see instructions.

al,.

.

.

.

14
15
16
17
18

.
.
.
.

22b

Cat No 11291J

.

.

58,190
254

530

709

23
24
25
26
27
28
29
30
31
32
33
34

11,248

12,486
83,527
US$51
(16,905)

(15335)
Form 990'T (2014)

a

Page 2

Form 990-T (2014)

Part III

Tax Computation

Organizations Taxable as Corporations. See instructions for tax computation. Controlled group
members (sections 1561 and 1563) check here b I] See instructions and;

a

Enter your share of the $50,000, $25,000, and $9,925,000 taxableincome brackets (in that order).

(1) Is
b

I

I

(2)$
I$

I

I

(a) I$

Enter organization's share of; (1) Additional 5% tax (not more than $11,750)

$

(2) Additional 3% tax (not more than $100,000) . . . . . . . . .
$
Income tax on the amount on line 34 . . . . . . . . . . . . . . . . . . . .
Trusts Taxable at Trust Rates. See instructions for tax computation. Income tax
the amount on line 34 from; E] Tax rate schedule or E] Schedule D (Form 1041) . . . . .

c
36
37
38

Proxy tax. See instructions .
.
. . . . . . . .
Alternative minimum tax
Total. Add lines 37 and 38 to line 35cor 36, whichever applies

.

.

.

.

Foreign tax credit (corporations attach Form 1118; trusts attach Form 1116)
Other credits (see instructions). . .
. . .
General busmess credit. Attach Form 3800 (see instructions) . . .
Credit for prior year minimum tax (attach Form 8801 or 8827) . . . .
Total credits. Add lines 40a through 40d
Subtract line 40e from line 39

.
.
.
.

.

.

.

.

.

.

b
on
>

350

P

37
38
39

.

36

Tax and Payments
40b
c
d
e
41
42

Other taxes. Check if from.

43
44a
b
c
d
e
f

Total tax. Add lines 41 and 42.
. . . . . . . .
Payments. A 2013 overpayment credited to 2014 . . . . . . . .
2014 estimated tax payments . . .
. . . . . . . . . . .
Tax deposited With Form 8868. . .
.
Foreign organizations. Tax paid or Withheld atsource(see instructions) .
Backup withholding (see instructions)
. . . . .
Credit for small employer health insurance premiums (Attach Form 8941)

9
45
46
47
48

403
40b
40c
40d
40c
41

I] Form 4255 E]Form 8611 E] Form 8697 (2) Form 8866C] Other (attach schedule).

Other credits and payments;

[I Form 2439

E] Form 4136

III Other

Total >

.
.
.

42

. .
44a
44b
44c
44d
44e
44f

43

119

Total payments. Add lines 44a through 449
.
.
. .
. . . .
Estimated tax penalty (see instructions). Check It Form 2220 isattached
. . . . . . >
Tax due. It line 45 is less than the total of lines 43 and 46, enter amount owed . . . . .
Overpayment. If line 45 is larger than the total of lines 43 and 46, enter amount overpaid
. .
Enter the amount of line 48 you want Credited to 2015 estimated tax P
1
Refunded

El
b
>
b

45
46
47
48
49

Statements Regarding Certain Activities and Other Information (see instructions)
1

At any time during the 2014 calendar year, did the organization have an interest in or a signature or other authority
over a financial account (bank, securities, or other) in a foreign country? If YES, the organization may have to file
FinCEN Form 114, Report of Foreign Bank and FinanCIal Accounts. If YES, enter the name of the foreign country
here D

,/

2

During the tax year, d.d the organization receive a distribution from, or was it the greater of, or transfercr to, a foreign trust? .
If YES, see instructions for other forms the organization may have to file.
Enter the amount of tax-exemgtinterest received or accrued during the tax year > $

I

3

Yes

No

Schedule A-Cost of Goods Sold. Enter method of inventory valuation >
1
2
3

Inventory at beginning of year
Purchases
. . . . . .
Cost of labor. . .

4a

Additional section 263A costs

(attach schedule)
b

5
Si

n
9

-

-

-

1
2
3

-

4a

Other costs (attach schedule)

4b

Total. Add lines 1 through 4b

5

2,488
73,931

6
7

8

Inventory at end of year .
Cost of goods sold. Subtract
line 6 from line 5. Enter here and

6

2,702

in Part I line 2

7

73,717

-

Do the rules of section 263A (With respect to

Yes No

property produced or achIred for resale) apply

76,419

to the organization?

I

Under penalties ol perjury. I declare that l have examined this return, including accompanying schedules and statements, and to the best at my knowledge and beliel, it is
true, correct, and complete Declaration ol pre
1 (other than taxpayer) is based on all information at which preparer has any knowledge.
c0
May the IRS discuss this return

Here '$

MI 5//ij4 TlAleSSlyl'an+

NIH Her

.

Signature of officer
Paid

7 /

Print/Type preparer's name

V

With the preparer shown below
(see instructionsn DYes DNO

Date
Preparer' 5 Signature

Date

Check

D It

PTIN

selleemployed
Preparer
Use Only

Firm's name

>

Firm's address >

Firm's EIN >
Phone no
Form 990-T (2014)

x

Form 990-T (2014)

Page 3

Schedule C-Rent Income (From Real Property and Personal Property Leased With Real Property)
(see instructions)
1. Description of property

(1)
(2)
(3)
(4)
2. Rent received or accrued
(a) From personal property (if the percentage of rent
for personal property is more than 10% but not
more than 50%)

3(a) Deductions directly connected With the income
in columns 2(a) and 20;!) (attach schedule)

(D) From real and personal property (if the
percentage of rent for personal property exceeds
50% or if the rent is based on profit or income)

(1)
(2)

l

(3)
(4)
Total

l

Total
(b) Total deductions.
Enter here and on page 1.

(c) Total income. Add totals of columns 2(a) and 2(b). Enter
here and on page 1, Part I, line 6, column (A)
.
>

Part I, line 6. column (B) >

Schedule E-Unrelated Debt-Financed Income (see instructions)
3. Deductions directly connected With or allocable to
debt-financed property

2. Gross income from or
allocable to debt-financed

1. Description of debt-financed property

property

(a) Straight line depreCIation
(attach schedule)

(b) Other deductions
(attach schedule)

(1)

(2)
l

(3)

l

(4)
4 Amount of average

5. Average ad1usted baSlS

vaU'S'tIOn debt on 0'

0f 0" allocable to

6 C
. olumn

4 dwided

7' Gross income reportable

(column 6 x total of columns

allocable to debt-financed
property (attach schedule)

debt-financed property
(attach schedule)

b column 5
y

(column 2 x column 6)

3(a) and 3(b))

Enter here and on page 1,
Part 1, line 7, column (A)

Enter here and on page 1,
Part I, line 7. column (B)

8. Allocable deductions

(1)

%

l2)

%

(3)

%

(4)

%

Totals

. >

P
Schedule F-lnterest, Annuities, Royalties, and Rents From Controlled Organizations (see instructions)
Exempt Controlled Organizations

Total dividends-received deductions included in column 8

1. Name of controlled
organization

2. Employer
identification number

5. Part of column 4 that IS
3. Net unrelated income
(loss) (see instructions)

4. Total of specmed
payments made

included In the controlling
organization's gross income

6. Deductions directly
connected With income
in column 5

(1)
(2)
(3)
(4)
Nonexempt Controlled Organizations
10. Part of column 9 that is
8. Net unrelated income
7. Taxable Income
(loss) (see instructions)

9. Total of specmed
payments made

organization's gross income

11. Deductions directly
connected With income in
column 10

Add columns 5 and 10
Enter here and on page 1.
Part I, line 8, column (A)

Add columns 6 and 11
Enter here and on page 1.
Part I. line 8. column (8)

included in the controlling

(1)
(2)
(3)

(4)

Totals

>

Form 990-T (2014)

t

Form 990-T (2014)

Page 4

Schedule G-lnvestment Income of a Section 501(c (7), (9), or (17) Organization (see instructions)
1 . Description of income

3. Deductions
directly connected
(attach schedule)

2. Amount of income

5. Total deductions
and set-aSides (col 3
plus col 4)

4. Set-aSIdes
(attach schedule)

(1)
(2)
(3)
(4)
Enter here and on page 1,
Part I, line 9, column (A)

Totals

.

.

Enter here and on page 1,
Part I, line 9. column (B)

P

Schedule l-Exploited Exempt Activity Income, Other Than Advertising Income (see instructions)
2 Gross
unrelated
1t Description 0' explaited aCt'V'ty

bfgxifa'ggzrpe

busmess

3. Expenses
directly
connected With
production of

4. Net Income (loss)
from unrelated trade
or busmess (column
2 minus column 3)

5. Gross income
from actiVity that
is not unrelated

unrelated

If a gain. compute

busmess income

busmess income

cols 5 through 7

6 Expenses
'
attgiltdtrzgles to

7. Excess exempt
expenses
(column 6 minus
column 5, but not

more than
column 4)

(1)
(2)

(3)
(4)
Enter here and on
page 1. Part I.
line 10. col (A)

Totals

.

Enter here and on
page 1, Part I,
line10.ccl (B)

Enter here and
on page 1.
Part II, line 26

D

Schedule J-Advertising Income (see instructions)
Part I
Income From Periodicals Reported on a Consolidated Basis
2. Gross
advertising
income

1. Name of periodical

advesrtiggeccosts
9

4. Advertismg
gain or (loss) (col
2 minus col 3) if
a gain, compute
cols 5 through 7

5' anggon

6' Riggffh'p

7. Excess readership
costs (column 6
minus column 5. but
not more than
column 4)

(1)

(2)
(3)
(4)
Totals (carry to Part II, line (5))

Part II

>

Income From Periodicals Reported on a Separate Basis (For each periodical listed in Part II, fill in columns
2 through 7 on a line-by-Iine ba5is.)
2. Gross
advertismg

1. Name of periodical

3. Direct

advertismg costs
income

(1)
(2)
(3)
(4)
Totals from Part I

4. Advertismg
gain or (loss) (col
2 minus col 3) If
a gain. compute
cols 5 through 7

5. Circulation
income

6. Readership
costs

7. Excess readership
costs (column 6
minus column 5. but
not more than
column 4)

>
Enter here and on
page 1. Part I.
line 11, col (A)

Enter here and
on page 1.
Pan ll, line 27

Enter here and on
page 1. Part I.
line 11. col (B)

Totals. Part II (lines 1-5)
>
Schedule K-Compensation of Officers. Directors. and Trustees (see instructions)
1. Name

2. Title

3. Percent of
time devoted to
busmess

(1)
(2)
(3)
(4)

%
%
%
%

Total. Enter here and on page 1, Part II. line 14

>

4. Compensation attributable to
unrelated busmess

Form 990-T (2014)

LDS BUSINESS COLLEGE
From 990-T

Year ended 12/31/2014
87-0280678
Attachment No. 1

Part II; Line 28 - Other Deductions

Materials & Supplies
Operating Materials/Supplies
Total Materials & Supplies

5,866.17
5,866.17

Telephone Telex and Cables

210.44

Conference/Seminars/Workshops
Advertising-Publ&Broadcasting
Advertising-Production
Carriage Cafe Promotions
Bank Service Charges and Fees
Cash Over and Short
Luncheons/Socials/Host Activ

57.40
194.68
994.46
3,951.57
25.05
-

Miscellaneous Expense

-

Total General and Administrative

5,433.60

Major Equipment Purch - Exp

-

Minor Equipment Purch - Exp

448.54

Equipment Lease & Rent - Exp
Major Equipment Purch - Cap

737.39
-

-

.

2

..

. c

Computer Hardware - Cap

-

Asset Acquisition Contra

-

Total Equipment

1,185.93

12,485.70

87-0481574

74-2368286

87-0217280

99-0083825

82-0207699

BONNEVILLE HOLDING COMPANY
50 EAST NORTH TEMPLE STREET
SALT LAKE CITY, UTAH 84150

BRIGHAM YOUNG UNIVERSITY
PROVO. UTAH 84602

BRIGHAM YOUNG UNIVERSITY HAWAII
55-370 KAMEHAMEHA HIGHWAY
LAIE, HAWAII 96762

BRIGHAM YOUNG UNIVERSITY IDAHO
290 KIMBALL
REXBURG, IDAHO 834604695

23-7300405

EIN

SALT LAKE CITY, UTAH 84111

AGRESERVES, INC
79 S MAIN ST - SUITE 1100

COMPONENT MEMBERS

PARENT COMPANY
CORPORATION OF THE PRESIDENT
OF THE CHURCH OF JESUS CHRIST
OF LATTER-DAY SAINTS
50 EAST NORTH TEMPLE STREET
SALT LAKE CITY, UTAH 84150

NAME OF ENTITY

12/31/2014

12/31/2014

12/31/2014

12/31/2014

12/31/2014

12/31/2014

Tax
Year End

0

0

0

0

$50,000

0

0

0

0

0

$9,925,000

Page 1 of 3

0

0

0

0

$25,000

0

O

0

0

0

$11,750

0

0

0

0

0

$100,000

0

0

0

0

0

$25,000

0

O

0

0

0

$0

$40,000

$500,000

$1,000,000

$40,000
AMT Exmpt

$9,925,000
Bracket

$25,000
Bracket

$50,000
Bracket

0

55555(9)(2)
$1,000,000
Threshold

5179(1))
$500,000
Deduction

555(d)(2)

538(6)
$25,000
Limitation

$31 1 (b)
3% Add'l
$100,000

5116))
5% Add'l
Bracket

511(1))

511(1))

511(b)

Controlled Group Consent Apportionment of Items

The corporations listed hereby consent to the followmg apportionment plans and elections for the year ended December 31, 2014 under
the lntemal Revenue Code sections Indicated The original consent agreement is filed with the IRS Center, Ogden, Utah 84201-0027.

CONTROLLED GROUP CONSENT FOR TAXABLE YEARS INCLUDING DECEMBER 31, 2014

50 EAST NORTH TEMPLE STREET, SALT LAKE CITY, UTAH 84150

THE CHURCH OF JESUS CHRIST 0F LATTER-DAY SAINTS
EMPLOYER IDENTIFICATION NUMBER; 23-7300405

87-0274433

84-1432969

46-1449295

87-0569880

87-0280678

99-01 09908

ENSIGN PEAK ADVISORS, INC.
60 E SOUTH TEMPLE ST - SUITE 400
SALT LAKE CITY, UTAH 84111

FARMLAND ACQUISITION, INC
79 S MAIN ST - SUITE 1100
SALT LAKE CITY, UTAH 84111

FARMLAND RESERVE, INC
79 S MAIN ST - SUITE 1100
SALT LAKE CITY, UTAH 84111

LDS BUSINESSS COLLEGE
95 NORTH 300 WEST
SALT LAKE CITY, UTAH 84101

POLYNESIAN CULTURAL CENTER
55-370 KAMEHAMEHA HIGHWAY
LAIE, HAWAII 96762

POLYNESIAN CULTURAL

87-0440163

150 SOCIAL HALL AVE. - SUITE 170
SALT LAKE CITY, UTAH 84111

DESERET MUTUAL BENEFIT ADMINISTRATORS

55 NORTH 300 WEST - SUITE 800
SALT LAKE CITY, UTAH 84180

EIN

20-8152281

DESERET MANAGEMENT CORPORATION

NAME OF ENTITY
CITY CREEK RESERVE, INC
51 S MAIN ST - SUITE 301
SALT LAKE CITY, UTAH 84111

12/31/2014

12/31l2014

12/31/2014

11/07/2014

12/31/2014

12/31/2014

12/31/2014

12/31/2014

Year End

Tax

$40,000
AMT Exmpt

$9,925,000
Bracket

$25,000
Bracket

$50,000
Bracket

Page 2 of 3

555(d)(2)

538(6)
$25,000
lJmitatIon

s1 1(b)
3% Add'l
$100,000

s1 1(b)
5% Add'l
Bracket

511(b)

511(1))

51 1(b)

Controlled Group Consent Apportionment of Items
8179(b)
$500,000
Deduction

the Internal Revenue Code sections Indicated. The original consent agreement is filed With the IRS Center, Ogden, Utah 84201-0027.

The corporations listed hereby consent to the following apportionment plans and elections for the year ended December 31, 2014 under

CONTROLLED GROUP CONSENT FOR TAXABLE YEARS INCLUDING DECEMBER 31, 2014

50 EAST NORTH TEMPLE STREET, SALT LAKE CITY, UTAH 84150

THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS
EMPLOYER IDENTIFICATION NUMBER 23-7300405

5665501)?)
$1,000,000
Threshold

12/31/2014

12/31/2014

45-5492786

87-0687704

SCP HOLDINGS, INC
50 E NORTH TEMPLE - COB 22
SALT LAKE CITY, UTAH 84150

SUBURBAN LAND RESERVE. INC.
79 S MAIN ST - SUITE 400
SALT LAKE CITY, UTAH 84111

TAYLOR CREEK MANAGEMENT COMPANY
13754 DESERET LANE
ST CLOUD, FLORIDA 34773
59-3439096

WESTERN WATER IRRIGATION COMPANY
PO BOX 2308
TRI-CITIES, WASHINGTON 99302
91-1627746

11/17/2014

12/31/2014

CORPORATION OF THE PRESIDENT OF THE
CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS

TOTALS

12/31l2014

87-6128054

PROPERTY RESERVE, INC
51 S MAIN ST - SUITE 301
SALT LAKE CITY, UTAH 84111

12/31/2014

99-0199388

EIN

NAME OF ENTITY
CENTER PROPERTIES, INC
55-109 LANILOA STREET
LAIE, HAWAII 96762

Tax
Year End

$25,000

$9,925,000

Bracket

$9,925,000

Page 3 of 3

RobertW Cantwell - Authorized Agent

$11,750

Bracket

5% Add'l

$1103)

$100,000

$100,000

3% Add'l

511(k))

$25,000

Limrtation

$25,000

$38M

0179(b)

$500,000

Deduction

$500,000

home
,2 $2075,

$40,000

AMT Exmpt

$40,000

055(d)(2)

Controlled Group Consent Apportionment of Items

$110))

m3,%

$50,000

Bracket

$25,000

$50,000
Bracket

$1101)

$1101)

The corporations listed hereby consent to the followmg apportionment plans and elections for the year ended December 31, 2014 under
the Internal Revenue Code sections indicated. The onginal consent agreement is filed with the IRS Center, Ogden, Utah 84201-0027.

CONTROLLED GROUP CONSENT FOR TAXABLE YEARS INCLUDING DECEMBER 31, 2014

50 EAST NORTH TEMPLE STREET, SALT LAKE CITY, UTAH 84150

THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS
EMPLOYER IDENTIFICATION NUMBER; 23-7300405

$6655(9)(2)

$1,000,000

Threshold

$1,000,000


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