Word: nonprofit
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Barnhouse outlined the idea to his congregation, which immediately voted him $5,000 to go to work. He set up a nonprofit corporation known as the Evangelical Foundation, and began experimenting with tape, playbacks and voices of the proper combination of vividness and ministerial timbre...
...cheery week for the Met and for U.S. symphony orchestras. After Nov. 1, thanks to the new federal tax law, nonprofit musical organizations are exempt from the 20% federal admissions tax. ¶TheNew York Philharmonic-Symphony got a separate windfall. Grieved by news that the Philharmonic suffered its worst deficit in history last year ($110,000), the 65 musicians of the Austin (Texas) Symphony Orchestra (last year's deficit: $4,000) chipped in $1 apiece, sent their collection along to help the New Yorkers...
...school of his own. He cut the staff of his importing firm from 40 to four, slashed his volume of business from $5,000,000 to $1,000,000, and devoted his time to planning courses and finding teachers. By last week, after four years of preparation, his nonprofit American Academy of Asian Studies was ready to open-the first graduate school in the U.S. devoted solely to the study of the Orient...
...high can taxes go? One tax expert is sure they can't go much higher Without killing off the taxpayer. In the current Saturday Evening Post, Roswell Magill, onetime Under Secretary of the Treasury and now president of the nonprofit Tax Foundation, describes in painfully homely terms the tax burden already carried by "Henry Suburban," an average income earner who commutes to work. Henry knows all about his heavy income tax and social security. But his life is also plagued by hidden taxes he rarely thinks about...
Last week, more certain than ever that there was a place for its uncommercial brand of radio, nonprofit KPFA came back on the air. As before, there was no commercial advertising, no sponsored shows, but there was plenty of classical music, drama, talks. Highlight of the first week: the BBC recording of Goethe's Faust, translated by Poet Louis MacNeice. Running time: three hours, 20 minutes...