Major cities with education funding issues should stick it to major league sports. Since 1943, the National Football League has remained a nonprofit organization, which exempts their profit from taxation.
In the article "Critics question leagues tax-exempt activities ", Josh Peters questions the necessity for the NFL to remain tax exempt. Further, he states,
"The IRS requires that tax-exempt nonprofit groups spell out their missions and keep a copy of their applications after the IRS grants exemption. So what is the NFL's official nonprofit mission, and are stadium loans a reasonable extension of that mission.
There's no telling. The NFL said it has lost its copy of the application it filed with the IRS in 1942, and the IRS also said it was unable to find a copy of the application. "
.......Note: C. Rice wants to become the commissioner of the NFL. Who the hell doesn't want to be?
Do you think this is right? If you don't agree with the current tax-exemption status (and the missing mission statement), please call the IRS toll free at 1-800-829-0433.
Wednesday, February 09, 2005
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