zlacker

>>modele+(OP)
Allowing startups to begin as non-profits for tax benefits, only to 'flip' into profit-seeking ventures is a moral hazard, IMO. It risks damaging public trust in the non-profit sector as a whole. This lawsuit is important

>>therei+4H
I live in Pittsburgh, and UPMC’s nonprofit status as they make billions in profits and pay their executives fortunes, is a running joke. With the hospitals and universities as the biggest employers and land owners here, a big chunk of the cities financial assets are exempt from contributing to the city budget.

>>jimbok+SU
In NYC, NYU and Columbia University are increasingly owning larger parts of Manhattan because they as universities have massive property tax exemptions. There is a big push right now to terminate those exemptions which currently amount to over $300 million per year.

At the same time they are getting these tax cuts, the CUNY public university system is struggling financially and getting budget cuts.