Wednesday, February 6, 2013

Our Sacred Cows

Which of these organizations is tax exempt? United Way, Red Cross, SPCA, NFL, NHL. 

"All of the above" is the correct answer. Like the charities listed, the tax code treats the NFL and NHL as a non-profit. The same holds true for the NCAA, ACC, PGA...even some private golf clubs!  

WRAL News presented a thought provoking series on the issue this week. Click here for the reports from TV5's Cullen Browder...on the NFL & ACC...on private golf clubs.

FYI: The MLB office surrendered its tax exempt status rather than report executive salaries.