DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Reading: Is The Fair Park Texas Foundation a Non-Profit? Not According to The IRS
Share
Font ResizerAa
DALTX Real EstateDALTX Real Estate
Font ResizerAa
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
  • Home
  • Guest Post
  • Agents
  • Contact Us
  • About
  • Advertise With Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > Uncategorized > Is The Fair Park Texas Foundation a Non-Profit? Not According to The IRS
Uncategorized

Is The Fair Park Texas Foundation a Non-Profit? Not According to The IRS

2 Min Read
SHARE
Hall-of-State-Michael-Cagle-1024x768
Hall of State, Fair Park (Photo: Michael Cagle)

All along we’ve been operating under the assumption that the organization founded by Walt Humann — the Fair Park Texas Foundation — was a certifiable non-profit. In fact, one of the things that made Humann’s organization attractive to the City of Dallas is that it could circumvent bidding as a non-profit providing monetary or in-kind resources to be set forward for the park’s management.  Everyone just assumed it was a nonprofit, even Dallas Morning News columnist Robert Wilonsky.

As it turns out, not so much. Could this be a case of misplaced paperwork, or something far more nefarious?

Someone, whose name is redacted from this letter posted today by Wylie H. Dallas on Twitter, went to the source to find out if Walt Humann’s Fair Park Texas Foundation is an actual non-profit registered with the Internal Revenue Service:

Fair-Park-Texas-Foundation-IRS-768x1024

“We have no record of this organization having tax-exempt status under Internal Revenue Code Section 501 (a),” the letter from Jeffrey I. Cooper. If you’re unfamiliar with 501 (a), the code that deals with tax-exempt statuses, here’s a bit about it from tax guru Don Kramer’s Nonprofit Issues:

Section 501(a) provides that organizations described under sections 501(c), 501(d), and 401(a) are exempt from federal income tax.  Section 501(c) now has 29 separate sections (See Ready Reference Page: “What Do We Mean When We Say ‘Nonprofit’?”), including 501(c)(3) which describes charities.  Section 501(d) describes certain religious and apostolic organizations, and section 401(a) describes qualified pension, profit-sharing and stock bonus plans.  None of the organizations that meet the definitions set out in these sections has to pay federal income taxes.

Now, I know from anecdotes from the brave people who have applied for 501 (c) (3) tax-exempt status that it is a long slog, so perhaps we could give the benefit of the doubt to Humann. We’ll let you know as things develop.

Long Cove Parade of Bunk Rooms Has us Dreaming of Slumber Parties
Adorable Lake Highlands Estates Cottage Sees Contract In Four Days
Behind that Press Release From Preservation Dallas on the Fair Park Briefing
Move-In Ready Midway Hills Ranch Has Eclectic Vibe
The Critter Report: Zika Virus’ Impact on Your Home
TAGGED:Fair Park
Share This Article
Facebook Email Copy Link Print
Previous Article Buckner Terrace Beauty Is a Must-See, With Open Concept, On-Trend Renovations
Next Article High-Caliber Agent: Relationships Matter, Says Realtor Jennifer Rice
Popular News
Dallas City Council D13

City Auctions 3.5 Acres on Forest Lane to Church, Sale Not Certain as Below Reserve

Funky Cedar Crest Family Home To Fall In Love With
This Little Richardson House Has A Killer Location And It’s Under $400K
Mexico Tourism is Still Strong, Especially in Los Cabos
A Cliff May in Casa View That You Need to See
about us

DaltxRealEstate.com is the largest real estate blog and the only one in North Texas.

Links

  • Privacy Policy
  • Terms of Service
  • Contact Us
  • Paid Guest Post Submission
  • Real Estate Glossary

Categories

  • Commercial Real Estate
  • Home Inspection
  • East Dallas
  • Monday Morning Millionaire

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post

Find Us on Socials

© DALTX. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?