Word: tax-exempt
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...question to be resolved involves Harvard's obligation to the City of Boston, where it owns more land than it does in Cambridge. Although university-owned land is legally tax-exempt, Harvard officials say special arrangements for three developments have led Harvard to pay more than $2 million a year to the city government--half a million more than Harvard pays to the City of Cambridge. The University claims that the current payments to Boston arose out of Harvard's concern about the city's financial condition. But the members of the Boston chapter of Massachusetts Fair Share who came...
...saying that a large part of the $2 million Harvard pays now is "voluntary," but such claims represent mere semantic distinctions. Of the three projects on which officials say Harvard makes some payment to the city, one is a housing project financed by Citicorp and therefore not legally tax-exempt. Another is a housing project on which Harvard agreed to make in-lieu-of-tax payments in return for a zoning code exemption. The largest part of what the University pays will ultimately derive from a similar package granting a zoning exemption in return for payments on the Medical Area...
Harvard-owned land is tax-exempt, as is any land a university owns. But Harvard officials say the University pays more than $2 million to the city in the form of required and voluntary payments...
...Jimmy Hoffa and shuffling Frank Fitzsimmons, trustees treated the fund as a pot of honey to be ladled liberally to friends and acquaintances. Now, after a two-year investigation by the Department of Labor and a threat by the Internal Revenue Service to revoke the fund's tax-exempt status, Fitzsimmons and his pals have been forced to resign from the fund's board of trustees, and management of the assets has been entrusted to the Equitable Life Assurance Society. "Our only requirement was that they settle on a recognized, independent financial manager," says Labor Department Spokesman John...
...ministers for $2 down and $2 a month (TIME. Feb. 10, 1975)-but that does not account for the mass ordination. The turn to religion is a protest against the fact that more than a sixth of the town's 84 sq. mi. were already owned by several tax-exempt religious groups (Zen Buddhists, Tibetan monks) and one educational group (the Center for Conservation). That left taxpayers bearing huge burdens to support their local roads and schools. One farmer, for example, was making about $8,000 a year off his 330 acres-and paying town, county and school taxes...