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In the 1960s the organization, determined to gain more corporate funding and expand its influence, applied for taxexempt status, which it received in the mid-1960s after a twoyear examination by the IRS.
We hasten to point out that we do not hold all church parking lots are entitled to taxexempt status.
There are also money market mutual funds that invest in taxexempt bonds that expire in less than one year.
The taxexempt, nonprofit organization has 883 adults and 300 children living in luxury on two ranches in the Sierra foothills, beach-front property in Santa Monica and
Congress and the Internal Revenue Service (the "IRS") are focusing once more on the question of what taxexempt hospitals must do to maintain their exemption from federal income tax, especially as the prospects for health reform with universal coverage become clearer.