What is Unrelated Business Income (UBI)?
Unrelated Business Income is when a 501c3 (i.e. non-profit) earns revenue through an activity that is not related to the tax-exempt purpose of that organization. If this type of income is earned, it is taxed by the IRS, unlike other income earned by a non-profit which is typically not taxed by the IRS, provided it is related to a charitable purpose.
For example, if a non-profit helps the homeless by running a thrift store, but also buys and sells used cars on the side, the income generated from the used car business would constitute Unrelated Business Income!
OK, so what’s UBI have to do with Art?
As the creator of the Accounting Artist, I try to mesh the ‘boring’ profession of accounting with creativity, humor, and color through artwork.
In this satirical acrylic painting, the pig family in the middle of the painting is pointing the IRS Unrelated Business Income Task Force car towards the unrelated pig jumping for joy with wads of cash!
Prints of this art piece can be purchased here – Unrelated Business Income Task Force Art