Word: nonprofit
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This plan and other plans were carried out with a unique blend of private enterprise and the public sector. You will remember that nonprofit corporations took part in both the Waterfront and the Central Business District. Merchants in the business community raised the "seed" money: in one case $200,000, and in the other case $250,000. We then signed a memorandum of understanding between the BRA and the non-profit organization agreeing, not to the adoption of their plan in toto, but rather that there would be consultations between their staff and the BRA as to any significant changes...
...budget-minded travelers with imagination, they have come to represent a skyful of magic carpets. The arithmetic was irresistible: with second-hand DC-7s available for as little as $100,000, it needed only 1,000 people contributing $100 each to buy one. Some two dozen private, nonprofit travel clubs quickly formed to put that principle to work, manning the cockpits with moonlighting commercial pilots and retired military aviators, staffing the cabins with ex-stewardesses-and flying off for weekend vacations that cost members 50% to 75% less in air fare than the cheapest scheduled flights...
...Internal Revenue Service agreed, and last week issued a new regulation imposing taxes on the advertising income of the nonprofit journals. The tax will be calculated at the normal rate of 22% of the first $25,000 of taxable ad income, 48% on taxable revenues over $25,000. The publications will be able to deduct a standard $1,000, plus all expenses involved in selling advertising, plus all editorial costs above and beyond the income from subscriptions. A carryover tax deduction will be allowed if there is a net loss due to advertising expenses-but not if a loss...
...learning through my ears." Highly conscious of what can be taught through hearing, a group of Peruvian businessmen, political leaders and educators founded and funded ERPA (Escuelas Radiofonicas Populares Americanas) with the aim of making listeners "better farmers, better cattlemen and better Peruvians." Operated as a nonprofit venture, ERPA is sending educational broadcasts to people who live as far as 15,000 ft. up in the Andes, offering organized study of such subjects as farming, health and home management, economics, religion, citizenship, sports and cooking...
Without Superiority. As an experiment in "black ecumenism," the committee will attempt to arouse Negro churches to a keener awareness of their own responsibilities. It plans to form a nonprofit corporation that will solicit funds from Negro congregations and other sources to finance housing and small businesses in urban ghettos. The committee will also try to help Negroes in predominantly white churches achieve a greater voice in policy. According to Payton, the organization represents "an effort to relate to the Black Power movement without adopting a philosophy of separation or black superiority. Our definition of Black Power is the power...