The Integrated Postsecondary Education Data System   IPEDS Help Desk
(877) 225-2568 or
NCES National Center for Education Statistics
General Information - FASB For-Profit Institutions

Changes in Reporting

For all institutions, the expense matrix has been removed and expenses are collected by functional and natural classification categories separately, except for salaries and wages. 

Top of Page

General Information

Fiscal Year: Enter the beginning and ending dates of the period covered for the reported financial data. 

Audit Opinion: Check the appropriate box to indicate if the GPFS received an unqualified opinion from your auditors. A "qualified opinion" occurs when the auditor includes exceptions to the opinion that "The financial statements present fairly, in all respects, the financial position as of (date) and the results of the operations for the year ended, in conformity with accounting standards generally accepted in the United States." When no such exceptions are included, the opinion is considered "unqualified." If “qualified” is checked, please note in the context box the nature of the qualification. If the statements have not been audited, please check “Don’t know” and note in the context box that the GPFS are unaudited.

Pell Grants: Indicate whether the institution accounts for Pell Grants as pass-through payments or as federal revenue. If the institution does not award Pell Grants, select the applicable option.

Institutions that do receive Pell Grants have the option to report Pell Grants either as:

  • Federal revenue and allowance to tuition and fees and/or auxiliary enterprises (for room and board, books, meals, etc.). If the Pell Grant is counted as federal revenue, then there should be an offsetting discount/allowance to tuition and fees revenue and/or auxiliary enterprise revenue so that the Pell Grants are not being double counted in the institution’s revenues. It is rare that private-for-profit institutions to treat Pell Grants this way. Do not choose this option unless you are absolutely certain it's correct.


  • As a pass-through transaction. A pass-through transaction is essentially a payment on the student’s account where the institution is purely processing the Pell Grant and those monies are not counted by the institution until they come in as a tuition payment from the student. This option is sometimes referred to as an agency transaction. With this option Pell Grants are not counted as federal revenues and are not considered to be a discount/allowance to tuition and fees or auxiliary enterprises.

Business Structure: Check the appropriate box to indicate the institution’s business structure for tax purposes. If either a C Corporation or a Limited Liability Company (LLC) business structure is selected, the institution will be required to report “Federal” and “State and Local” income tax expenditures in Part F.

Please note that regardless of how Pell Grants are treated for revenues or expenses they should still be reported in Part C: Scholarships and Fellowships under Pell Grants.

Top of Page

U.S. Department of Education Software Provider Resources Use of Cookies Section 508 Compliance
Department Of Education Browsers Supported Troubleshooting NCES Privacy Policy