Word: profits
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Before the last quarter century, the academic press focused almost entirely on highly academic books with negligible mass-market appeal. But while they still do not exist to make a profit, they are subject to constantly increasing pressures to make ends meet. Harvard led the way for the industry’s response to fiscal reality in the early 1970’s, according to HUP Marketing Director Paul Adams, when then-University President Derek C. Bok hired Arthur Rosenthal, the head of commercial publishing house BasicBooks, to run HUP. Rosenthal brought a more market-driven approach to the press...
...closing such accounts is prohibitively expensive. Stevens wrote that because the plaintiffs lost no money, and because by its design, the IOLTA fund would never cause a loss to its contributors—lawyers are mandated to set up private-interest earning accounts if their clients could possibly profit from it—there was no taking. Thus, the program is constitutional...
...although all of the land—including the 1.4 acre parcel—could be useful to Harvard in the far-off future, he said that the University is too greedy a buyer and unfairly enabled by tax breaks from the state that it gets as a non-profit institution...
Power said she did not know of any for-profit enterprises in tax-exempt properties...
...order to take a property off the tax rolls, it needs to be clear that the property is used for non-profit, tax-exempt use,” Power said. “I’m not aware of any examples when that’s not the case...