Nonprofit News and the Tax Man
source: http://www.cjr.org/the_audit/nonprofit_news_and_the_tax_man.php?page=all
"The future of nonprofit news organizations has hit an unexpected roadblock in the agency that determines their tax-exempt status: The Internal Revenue Service.
Nonprofit news organizations applying for tax-exempt status are running into long delays as the IRS bundles them together as “precedential” and studies whether they qualify for the status under 501(c)(3). While animal protection and “fostering national or international amateur sports competition” are tax-exempt activities listed in the 501(c)(3) statute, journalism is not, and the agency’s historical position has been that newspapers or similar publications are commercial enterprises.
Consider the San Francisco Public Press.
The newspaper doesn’t accept advertising. It’s run by volunteers and has no salaried employees. It covers local public policy issues and eschews sports, entertainment news, and restaurant reviews. It loses money and is subsidized by donations and foundation grants.
But the IRS got the paper’s application nearly two years ago and still hasn’t given it an answer."
It would seem to me that REAL news would be non-profit. Never under Damocles Sword of loosing advertisers because of what or how you report on what is going on. It should lead to more investigative news, the kind that you get from Greg Palast. Of course, he had to leave the country and get employed by the BBC to report on America in order for his investigations to be heard.
Nonprofit news organizations applying for tax-exempt status are running into long delays as the IRS bundles them together as “precedential” and studies whether they qualify for the status under 501(c)(3). While animal protection and “fostering national or international amateur sports competition” are tax-exempt activities listed in the 501(c)(3) statute, journalism is not, and the agency’s historical position has been that newspapers or similar publications are commercial enterprises.
Consider the San Francisco Public Press.
The newspaper doesn’t accept advertising. It’s run by volunteers and has no salaried employees. It covers local public policy issues and eschews sports, entertainment news, and restaurant reviews. It loses money and is subsidized by donations and foundation grants.
But the IRS got the paper’s application nearly two years ago and still hasn’t given it an answer."
It would seem to me that REAL news would be non-profit. Never under Damocles Sword of loosing advertisers because of what or how you report on what is going on. It should lead to more investigative news, the kind that you get from Greg Palast. Of course, he had to leave the country and get employed by the BBC to report on America in order for his investigations to be heard.
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- groups:
- News and Politics
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- tags:
- News, IRS, non profit
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kvb1
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It would seem to me that REAL news would be non-profit.
- 1 year ago
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kvb1
