Hoban Washburne: Sounds like a church.
Speaker2Animals: Hoban Washburne: Sounds like a church.But the director admitted to the reporter it had no affiliation to the Presbyterian church.
MmmmBacon: I work for a Not-For-Profit organization, and no, they can't keep that kind of profit if they hope to retain their Not-For-Profit status. We have to reinvest the vast majority of any annual profit we might make into construction projects to expand the organization, give some away to charity, etc. We are only allowed to keep a small amount as a "rainy day"-type fund, to help in case of economic downturn.
netcentric: Doesn't it say 98 million revenue .....
ObeliskToucher: Ha, ha rumpelstiltskin/points, laughs
deanis: Believe it or not, there is still cost involved in running a non-profit.
Philbb: I have grown up and lived near retirement communities, I have, long ago, lost all respect for them. They want to be able to buy homes in certain areas and not pay taxes that would benefit things like schools and infrastructure for later generations. One of the claims they make is that they, "don't have children in public schools" therefore they shouldn't have to pay taxes that support local school districts. Even though, admittedly, their children to not attend these schools yet their grandchildren do.
ObeliskToucher: Subby fail -- $98 million *in revenues* (FTFA) is not the same thing as $98 million in profits...That's also a total number for the 18 retirement homes that are run by the same corporation, not the revenue from the facility being sued for property taxes.
NutWrench: deanis: Believe it or not, there is still cost involved in running a non-profit.So how much does landscaping, maintenance and staff salaries for a retirement community cost? 98 million?
buz: The NFL is also a non-profit organization (look it up, I'll wait.) it just means that they have better attorneys than you do.
natas6.0: still sounds more appropriate than most other non-profits in this country
Want the rest of the Farking story? Try
More threads. More community. More Farking.
Sign up for the Fark NotNewsletter!
Links are submitted by members of the Fark community.
When community members submit a link, they also write a custom headline for the story.
Other Farkers comment on the links. This is the number of comments. Click here to read them.
You need to create an account to submit links or post comments.
Click here to submit a link.
Also on Fark
Submit a Link »
Copyright © 1999 - 2018 Fark, Inc | Last updated: Feb 24 2018 05:38:22
Runtime: 0.494 sec (493 ms)