However, the NSNP educational institution is required to submit its income tax return with a detailed breakdown of expenses. B. Tax treatment of contributions, gifts or donations to educational institutions 1. These constitute allowable deductions but only up to 10% (individual) or 5% (corporation...
Unexpected episodes of illiquidity may limit the portfolio's ability to pay redemption proceeds within the allowable time period. To meet redemption requests during periods of illiquidity, the adviser may be forced to sell clients' securities at an unfavorable time and/or under unfavorable conditions ...