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(KSDK St. Louis)   Senior living community with $450K entrance fees and $98M in annual profit claims it doesn't owe any taxes of any kind -- because they're a non-profit   (ksdk.com) divider line 9
    More: Stupid, nonprofits, Board of Equalization, tax-exempt, check-the-box, home, Presbyterian, tax forms, St. Louis County  
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7053 clicks; posted to Main » on 08 Feb 2013 at 8:22 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-02-08 08:52:24 AM
3 votes:
FARK the retirement community and their greasy administrators.  The original paperwork clearly stated they would pay taxes, and now they want out?  It's a whole different issue if this were a pre-construction proposal, but the place was approved and built based on their agreement to pay taxes.

If the city loses, I would go with an earlier poster's suggestion--just put a toll booth in front the main gate and charge $500 per axle.  And that would include food delivery trucks.
2013-02-08 08:31:30 AM
3 votes:
Somebody without children paid to educate your sorry ass, you can pay to educate someone else's kid.  That's how this 'society' thing works.
2013-02-08 08:31:05 AM
2 votes:
FTFH:  $98M in annual profit

FTFA:  generated revenues of $98,000,000 last year.

These words are not interchangeable.


/ unless you're the mob.
2013-02-08 08:49:29 AM
1 votes:
This kind of nonsense needs to end.  It dilutes the true non-profits and religious organizations.
2013-02-08 08:46:55 AM
1 votes:

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.


On the other hand the school district will probably just waste the money (Like L.A.) on TV stations, multimillion dollar campuses and exorbitant 6 figure salaries for administrators and staff. None of which have done anything to improve student performance.

More power to anybody who legally avoids paying more taxes than they have to. Government has a spending problem not a lack of revenue problem.
2013-02-08 08:44:55 AM
1 votes:
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.
2013-02-08 07:26:09 AM
1 votes:

Speaker2Animals: Hoban Washburne: Sounds like a church.

But the director admitted to the reporter it had no affiliation to the Presbyterian church.


Plus, their "charitable activities" apparently consists of waving the fees to those who can't afford it, if they paid the $450,000 upfront.
2013-02-08 07:01:50 AM
1 votes:
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.

If the Government sent auditors to look over this company's books, odds are their NFP status would be pulled in short order, assuming no back-room deals were made.
2013-02-08 01:31:03 AM
1 votes:
Sounds like a church.
 
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