DALTX Real EstateDALTX Real EstateDALTX Real Estate
  • Home
  • Guest Post
  • Agents
  • Design
  • Tools
  • Resources
  • Housing Market
  • Advertise With Us
  • About
  • Contact 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
  • Design
  • Tools
  • Resources
  • Housing Market
  • Advertise With Us
  • About
  • Contact Us
  • Home
  • Guest Post
  • Agents
  • Design
  • Tools
  • Resources
  • Housing Market
  • Advertise With Us
  • About
  • Contact Us
Follow US
© DALTX. All Rights Reserved.
DALTX Real Estate > DFW Real Estate News > Is The Fair Park Texas Foundation a Non-Profit? Not According to The IRS
DFW Real Estate News

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.

Living With the Art Director: East Kessler Cottage Sold in Five Days
Weidner Apartment Homes Acquires Monterra Village in Fort Worth
Lots To Love In These Lower Greenville Open Houses
Fair Park Care? At Last Week’s Fiery Fair Park Panel, Rawlings Evokes Obamacare
North Texas Suburbs Fare Better Than the Rest of Texas in Top 100 Livable Cities
TAGGED:Fair Park
Share This Article
Facebook Email Copy Link Print
Previous Article Vickery Place Craftsman Blows Off The Market
Next Article High-Caliber Agent: Relationships Matter, Says Realtor Jennifer Rice
Make us a preferred source on Google
Real Estate Guest Post
Real Estate Guest Post on Daltx

Popular News

DFW Real Estate News

MetroTex Membership Systems Back Online After Vendor Issues

The Dallas Luxury Market is on Fire: Look What You Missed!

Maestri Gallery Offers Unique Art, Accessories, and Martin the Flamingo

East Dallas Custom Located in The Heart of Fourth Festivities

Exceptional University Park Home Designed And Built by Larry Boerder

DALTX Real Estate

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

Links

  • Contact Us
  • Real Estate Glossary
  • Buy our ebook

Categories

  • Home Buying Tips
  • Home Selling Tips
  • Commercial Real Estate
  • Residential Real Estate
  • Home Maintenance
  • Texas Real Estate
  • Home Design
  • Real Estate Investment

Get Involved

  • Advertise With Us
  • Write for Us: Submit Guest Post
  • Paid Guest Post Submission
  • Link Insertions

Policies

  • Advertising & Sponsored Content Disclosure
  • Corrections Policy
  • Editorial Policy
  • Ethics Policy
  • Feedback Policy
  • Ownership & Funding
  • Privacy Policy
  • Terms of Service
  • Refund Policy
© DALTX. All Rights Reserved.