Word: exempted
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Administration officials saw little chance last night that Harvard would make use of the "Pomona Plan," a scheme offering a tax-exempt life income plan to persons giving donation to a university...
Under the terms of the plan, an upper-bracket taxpayer can give a college securities, which are then re-invested in tax-exempt municipal bonds. The donor collects income from these bonds during his lifetime, with the principal going to the college on his death...
...announcing the proposal for a new Zoning Code last November, the Planning Board stated its intention to seek amendments to the state Enabling laws "so that colleges and universities would not be exempt from those contols which the City Council has from time to time felt desirable for the proper development of the City...
...says. "I don't necessarily want to save him from it." Harry devotes some time to Negro affairs (the N.A.A.C.P., the Wiltwyck School for Boys, the Rev. Martin Luther King's Montgomery Improvement Association), gives 20% of his income to his partly tax-exempt Belafonte Foundation of Music and Arts, designed to "get young people with talent out from under the hammer...
Farce tends to make Harvard actors foresake the search for truth in favor of mugging and running around, and none of these three productions is exempt from this tendency. As indicated above, there are compensations (Jane Fishburne's imaginative costumes comprise another.) But whoever exhumed these scripts deserves a citation for industry very far beyond the call of duty. There is something exhilarating about a triumph over a script that has outlived its audience-appeal, but there is something even more exhilarating about a successful collaboration with a good...