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5/17/2016 10:05:27 AM
 
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Section 5: OPA Board Subject: Tax Status Msg# 949818
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did we stray off the original topic or did I miss a relevant post? we started out with tom j's 'open to the public' question, to which I responded that I believed it was imposed on us by our tax status. jef confirmed that (I hadn't seen his post when I wrote said response), mentioning 'community service tax status'. so have we settled on the fact that 'open to the public' is due to our tax status, which I believe is 501 c 3 or 4.
and joe, in some of your posts you seem to indicate that your thinking is that the irs isn't going to look at us too hard re non-profit because of our huge losses, so we shouldn't be concerned about fulfilling the 'community service' requirement. if so, I can see your reasoning, but does the benefit (amenities for property owners only) justify the risk (fine, losing our non-profit status etc)? if I was reading between the lines and interpreted your thoughts incorrectly, sorry about that. steve lind |
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For reference, the above message is a reply to a message where: In addition, I believe the same reasoning would apply to golf and other amenities if they were actually profitable and if the public was excluded from them. You may be correct. However, I have not seen any factual information to that effect. If what you say is correct, then why didn't the IRS also look at the Beach Club itself in addition to the parking? |
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