Word: taxexempt
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Since its shoestring beginning in an Ocean Park, Calif., garage, Synanon has done very well by itself. The taxexempt, nonprofit organization has 883 adults and 300 children living in luxury on two ranches in the Sierra foothills, beach-front property in Santa Monica and Tomales Bay and in a converted San Francisco paint factory. Most members pay a minimum $400 a month for room, board and uplift, but some contribute much more. One woman has donated more than $1 million. Synanon's assets, including ten aircraft and 400 cars, trucks and motorcycles, total almost $30 million. Its advertising...
...group presently is applying for taxexempt status from the Internal Revenue Service, and members are trying to secure grants in order to open a street-front center...
...above. The nonprofit corporation met with all the law's requirements concerning tax exemption. Still, claimed the IRS, with visions of laying hands on just a little more of the living Rockefellers' estimated $1,033,988,000 wealth, Congress had intended only public necropolises to be taxexempt. "Grasping at straws" was the way the tax court described the IRS argument. Now no Rockefeller need fear potter's field...
Exemptions Everywhere. Another source of wide inequity is that much property is taxexempt. About a third of such property is owned by-and often produces profit for-governmental, religious, educational or charitable organizations. Measured by its dollar value, half or more of the real estate in Albany and Ithaca, N.Y., and Washington, D.C., is taxfree. The ratio is 33% or more in New York City, Pittsburgh and Harrisburg, Pa., and Montpelier, Vt. In a penetrating new book, The Free List (Russell Sage Foundation; $7.50), Journalist Alfred Balk argues that the exemptions have become so large, loose and inconsistent...
Brandeis acting president Charles I. Schottland was in a jam. The National Student Strike Information Center had been a bane to his administration since it was set up last Spring. First, there were immediate questions about its effect on the university's taxexempt status; second there were questions among his own faculty of its propriety; third, there were questions-many, many question- from alumni about contributing to a school that let its students run nation-wide strikes instead of studying. Fourth, the Brandeis students had said there is no question but the strike center must stay open...