Word: exemption
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Because non-profits are exempt from paying property taxes, their financial contributions to the city—known as payments in lieu of taxes, or PILOTs—are voluntarily negotiated, and as a result, lack standardized guidelines...
...pays $4.6 million—over half of the city’s $8.1 million collected from higher education PILOTs. The city collects $32.4 million annually from PILOTs—a small sum compared to the estimated $350 million that Boston would receive if non-profits were not tax-exempt...
...address at commencement, the University’s most symbolically significant ceremony of the year. The historian chose in this historical moment not to make an abstract address about the location of Harvard and its students in the world, but instead to present a political case for the tax-exempt status of the endowment. It was, all told, an eloquent and well-argued speech, drawing a clever equivalence between the strength of our ledger books and the munificence of our deeds. But in choosing to dedicate her speech to warding off the specter of taxation, President Faust betrayed the tacit...
...This month, the agency will release guidelines for standardizing the medical tests, assessments and care given to mental-health patients in the public system. The recommendations include taking regular measurements of patients' height and weight, checking their glucose levels and carefully evaluating their medication history. Psychiatrists, likewise, are not exempt. According to Mental Heath America, based in Virginia, a recent survey of people with schizophrenia revealed that they rarely discussed physical health with their psychiatrists. So the organization is working on an initiative with the American Psychological Association to better educate mental-health specialists about the physical concerns facing patients...
...University will also convert existing short-term tax-exempt debt into bonds with longer maturities, allowing the University to postpone short-term payments to debt holders and retain a larger financial cushion to the volatility in the credit markets...