"radio881gal" <[EMAIL PROTECTED]> wrote:
>
" You have to ask yourself, why would a nonprofit, affordable housing
organization reject a revenue stream?"
Hi Maureen,
I'd like to answer this question based only on my own nonprofit,
affordable housing experience and nothing to do with PHS. A
nonprofit with a 501(c)3 tax exempt status must provide a charitable
mission. Nonprofits are allowed to make money and many do. Some
have credit cards, some sell cars, some have stores. Nonprofits are
always scrambling for money. It's neverending, but they still have
to provide a charitable mission. Lobbying nonprofits have a
different IRS designation 501 (c)4 and are not tax exempt.
Again, I know nothing about PHS. I only looked at their site and saw
they ran many affordable housing units for seniors other than Asbury
Towers. They may subsidize these by running a for profit entity that
has ritzy units. This is similar to the movement in housing
counseling to start a for profit entity that brokers mortgages in
order to pay for their charitable missions.
The only way to really know is to ask PHS. I may be prejudiced
towards their needs because of my own work in the affordable housing
field. It's an ongoing challenge to simply remain viable and the
need never stops growing. So I will admit to my own bias and hope
that everyone will take this in the spirit which I offer it - just
information.
Best wishes,
Jennifer
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