Word: tax-exempt
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...feature of the new seminar is the incorporation scheme, which allows it to receive money donations directly on a tax-exempt charity basis. Before it was a corporation, the Seminar had to route its contributions through the World Student Service Fund in New York...
Over 9,000 permanent and temporary University staff members will come under Social Security January 1, if a two-third majority favors the idea, John W. Teele, director of personnel reported yesterday. Employees of non-profit, tax-exempt organizations were not covered by Social Security until this summer when Congress extended the provisions...
Passage by Congress of legislation to close some of the loopholes in the taxing of business activities of universities appears very likely following the adoption last week of some proposals on the subject by the House Ways and Means Committee. The House group favors the taxing of unrelated businesses owned by colleges and of profits made by a tax-exempt institution when it buys a property with borrowed money and then leases it back to the original owner on a long-term basis...
...face of all this criticism, the Association of American Universities issued a statement urging education institutions to avoid investments that would jeopardize their tax-exempt status...
Other areas the President thought worth scouting for more revenue: a few tax-exempt educational and charitable organizations which persist in "glaring abuses" of the exemptions, life insurance companies which "have unintentionally been relieved of income taxes since 1946," and short-lived Hollywood corporations de signed to dodge paying big taxes. He wanted to trim corporation income taxes in the bracket between $25,000 and $50,000 a year, proposed a "moderate" tax increase on any profits that jutted beyond the $50,000 level...