Word: tax-exempt
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...become more capital intensive with the influx of expensive high-technology devices, hospital administrators have had to look for new sources of funding. Industry experts estimate that U.S. hospitals will spend about $163 billion on plant and equipment in the 1980s. Traditional types of revenue, such as philanthropy, tax-exempt bonds and public subsidies, are no longer enough. For-profit hospitals with good balance sheets, however, can raise money by selling stock...
...government claims that Moon failed to pay taxes on $162,000 interest on a $1.8 million Chase Manhattan Bank account. Moon says that he was holding the money in trust for his church, an established legal practice known as corporation sole, and that the money should therefore have been tax-exempt. (Curiously, Moon did pay personal taxes on the bulk of the account...
Under a program designed to revitalize downtrodden commercial zones, the developer has requested $3 million in tax-exempt Industrial Revenue Bonds...
Turk argues it is fair to ask more of Harvard than other landowners. Since Harvard benefits from the public through its tax-exempt status, the University should make its investments so that they will benefit the community as a whole as well as itself. Turk says...
...find a different financial base. Both these matters, when embodied in a plan that was made public in 1976, caused some livery controversy. To get more money, the museum came up with the idea of a 44-story tower of luxury apartments, an unprecedented step for a tax-exempt institution that, in the view of Architecture Critic Ada Louise Huxtable, proved "the most artful real estate deal ever devised." Reckoning in the six floors that constitute the base of the tower but belong to the museum, the exhibition space has now more than doubled, from...