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
Warthog: Is this not America? Is this not a business? Are businesses not entitled to shield their lifeblood capital from the greedy paws of the communist tax man?That's what Mitt Romney taught me -- taxing a business is like murdering a kitten with a dildo.Don't murder a kitten with a dildo.
alienated: Okay, I will be honest.Many years ago, myself and pooter and deveyn came up with an idea to form a non profit entity to host the worlds biggest fark party, in las vegas. The reasons for wanting to do a non profit were many, but mostly due to the fact that we wanted the liquor / beer money to go to us, instead of outside vendors, so we could then funnel said money to real actual charities. I wont get into the nasty details as to why MY idea got shot down and how you folks ended up with whatever the hell you did end up with as far as a world fark party, but my only goal was to have a great time and raise money for things that needed it. I was planning, and all involved agreed- we would only take so much as what it cost to run, plus time. I , myself, would have made about 3 grand.
stonicus: I know we said in our business proposal that we were going to pay taxes, but what we meant was go fark yourself.and thanks for paying for the construction
not5am: stonicus: I know we said in our business proposal that we were going to pay taxes, but what we meant was go fark yourself.and thanks for paying for the construction.
DoBeDoBeDo: 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.Actually it means they don't have shareholders that receive dividends from profits. But, yes, it does mean that the attorneys have to do some legal wrangling.
TheGreenMonkey: Don't murder a kitten with a dildo.What about the kitten without a dildo? Can we murder that one?
NutWrench: Well, which is it? "Fully intended" or "never intended?" You can't lie out of both orifices without imploding.The city should sue to recover the taxes.
hasty ambush: Warthog: Is this not America? Is this not a business? Are businesses not entitled to shield their lifeblood capital from the greedy paws of the communist tax man?That's what Mitt Romney taught me -- taxing a business is like murdering a kitten with a dildo.Don't murder a kitten with a dildo."An unlimited power to tax involves, necessarily, a power to destroy" Daniel Webster"That the power to tax involves the power to destroy [is] not to be denied "John MarshallEffect of luxury tax on boats and planes for fiscal year 1991 (in millions of dollars):Boats Planes TotalTax-related jobs lost 7,600 1,470 9,070Unemploymentbenefit cost -$2.1 -$0.6 -$2.7Income tax loss -$16.1 -$4.5 -$20.6Luxury tax revenue +$3.0 +$1.0 +$4.0Net loss -$15.2 -$4.1 -$19.3total job loss by 1993-25,000
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