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5/15/2016 3:55:29 PM
 
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Section 5: OPA Board Subject: Tax Status Msg# 949595
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As for the open to the public IRS issue, . . . . .
Tom Gee it seems you're either very very optimistic, or have a better crystal ball than I have. The IRS would be of concern ONLY IF there were PROFITS being made. With the OPA having so many losses, its very low on the radar to be at all concerned with IRS entanglements, IMO. Tennis/ platform /pickle ball are in no jeopardy of becoming profitable, IMO. And whats wrong with making profits??? We should be so lucky. So many of us would be jumping through hoops and dancing in the street if the YC, golf or aquatics made profits (after allowable depreciation). Seems to me the administration "wants" to push the open-to-public idea, so is using the IRS as a ploy, an excuse. I'm not buying it. PS The Beach Club Parking was the sole exception, of course. Was considered a separate entity with no offsets for OPA's losses elsewhere. Tom |
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For reference, the above message is a reply to a message where: Steve, Thanks for your response. I am sure we will have many more discussions over the next few months, as we have over the last few years. Good luck with your campaign as well, it should be an interesting summer! As for the open to the public IRS issue, I lean more toward what Joe said in his response to your statement. I will have to do a little more research to see exactly what the law allows. Mostly, I would just like to see the board work for the property owners as hard as they do trying to bring the "public" here to use our facilities. Tom |
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