Theos-Talk Archives (December 2006 Message tt00840)

Friends, 

MKR's views below seem to be just common sense and they point to the 
same direction as I had written earlier. 

The total assets of a person or institution have no direct 
relationship with cash money. 


In Adyar compound, for instance --  back in the nineties when I 
spend some 90 days there, there was a strong urban pressure over the 
theosophical headquarters --.   I don't know about the Pasadena TS, 
but it seems the movement had a material growth in the first decades 
of 20thcentury and its builduings later on had their value radically 
increased.  That does NOT mean cash money. 

It is better to think a little bit and to get real information, 
before jumping into conclusions. 


Carlos. 





 



--- In theos-talk@yahoogroups.com, "M K Ramadoss" <mkr777@...> wrote:
>
> For anyone who has seen the sky rocketing real estate prices, $6.1 
million
> is no surprise especially in LA.
> 
> While I do not have any personal information, it looks like most 
of the
> amount is the value of the buildings owned by Theosophy Company. In
> addition, all non-profit tax exempt organization in the USA, except
> Churches, are annually required to file financial and operational
> information returns by IRS and this info is public info for anyone 
to
> see.Soanyone can find out the financial condition of these
> organizations.
> 
> Most of the long standing organizations which acquired real estate 
several
> decades ago in such cities as LA, have seen the values sky rocket 
and from
> time time, when long standing members and sympathisers die, they 
bequeath
> substantial properties to many tax exempt organizations; which in 
addition
> to fulfilling their interest in financially supporting the 
organizations,
> their estates also get a tax deduction if the estate is large 
enough to
> attract estate taxes.
> 
> Unless the above type of non-church tax exempt organization is a 
membership
> organization, they are not required to disclose any operational 
information
> except that is required by the Federal and State Tax authorities. 
So it is
> almost impossible to find out any operational or financial details 
other
> than the above.
> 
> I am aware of a local "church" type tax exempt organization in 
Texas, USA
> which is supported by contributions from the public, but does not 
publish
> any financial information either about their assets and 
liabilities or their
> operational income and expenses and not even the contributing 
public has any
> right to see any of the information. Of course, if IRS or the 
Secretary of
> State determines there is a need to audit the organization, they 
have right
> of  full access; but they cannot disclose any information they 
come across
> during the audit. I thought, it may be of some interest to those 
not fully
> familiar as to how the US system works.
> 
> mkr
> 
>