Word: tax-exempt
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...decision to finance construction through tax-exempt borrowing, rather than spending capital resources directly on plant renovation...
They are going to realize, O'Neil says, that such institutions are depriving municipalities of a significant portion of their tax base. He argues that in Boston alone, the percentage of tax-exempt property has risen from 31 percent to 63.5 percent since the outspoken official started introducing the bills...
...rejuvenation of the club was completed in 1950 with the establishment of the Harvard Club of Boston Foundation, a tax-exempt organization, which now annually donates about $100,000 to the College's financial aid budget. "Our getting behind the University and really supporting it resuscitated the club immensely," Mittell says...
Despite these expenses, the Lampoon is still an extremely profitable non-profit organization declaring income of over $200,000 and assets of almost half a million dollars in 1980 for example. In fact, without such generous donations as those given annually to the College, the magazine could lose its tax-exempt, non-profit status...
First, the plan offers very little money to those able to take advantage of it. It merely allows parents to deposit up to $1000 a year in a special savings account, in which the interest accrued--not the capital deposited--is tax-exempt. A Treasury Department official estimates that for a family earning $30,000 a year with two college-bound children, the benefits over six-years would be about $750 a child...