For-profit ventures help nonprofits shore up the funding they need to maintain and expand their programs

By Abny Santicola

According to Allen Bromberger, partner at New York law firm Perlman & Perlman, which works extensively with the philanthropic community, UBIT is a tax imposed on income from a trade or business that is regularly carried on and does not contribute to the accomplishment of the organization’s tax-exempt mission in an important way other than through the production of income.