>>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.
>>delfin+Qa1
there are large positive externalities to major research unis. imposing a $300m/yr tax because of anti-ivy sentiment means net fewer researchers, grad students, funded residencies, etc.
do people just no longer believe in win wins? if someone else is successful or impactful they must be taken down?