Word: tax-exempt
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...words, "a minority of secular humanists and amoralists are running this country and taking it straight to hell." Carter's "failings," in their eyes, deepened their despair. The last straw for many evangelicals was a 1978 attempt by the Internal Revenue Service to take away the tax-exempt status of private schools suspected of practicing racial discrimination...
That's because businesses in the Kendall Square development--designated a "commercial revitalization district"--are eligible for tax-exempt bonds...
...year in Government grants, loans and loan guarantees. Since two-thirds of Wheaton's revenues are from tuition and fees, "it would be difficult, if not impossible, to replace" such student aid, says Admissions Director Stuart Michael. Worse, the Government might one day strip the college of tax-exempt status. If Wheaton were forced to change its admission policies, its defenders argue, it would no longer be Wheaton-whose motto since 1860 has been Eius Christo et Regno: For Christ and His Kingdom...
...states and corporations. Now financially pinched private universities are catching on. Chicago's Roman Catholic Loyola University has become the first such institution to raise cash by issuing lOUs in the crackling-hot short-term money market. Needing building funds, Loyola issued a total of $53.5 million in tax-exempt corporate paper for terms ranging from 15 to 93 days at an average interest cost of 3.86%. Loyola intends to keep reissuing the paper until long-term interest rates (now as high as 9½% for 30 year tax-exempts) decline...
...York City, where they have made extensive real estate investments in recent years. The vigilant town fathers of Gloucester hope to find a way of revoking the purchase of the retreat house on legal technicalities, and are ready to fight the church if it tries to get tax-exempt status for its property...