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.

Today’s the Perfect Day to Tour This Lakewood Beauty (Because Tomorrow Not so Much)
Real Estate News: Home Appreciation Slows in September
This Modern Sanctuary is Setting a New Standard in Lovers Lane Heights
Have Your Cake And Eat it Too in This Midway Hills Modern Tudor
Need an Election Day Distraction? Dallas Builders Association Hosts Candy For a Panel Discussion
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

Home Selling Tips

BREAKING: Couple Uses Facebook Yard Sale Group to List University Park Home on McFarlin

Don’t Let Your Dream Home Become a Nightmare With Mortgage Scams

5 Ways to Keep Your Arizona Backyard Cool: Practical Solutions for Hot Days

Champions School of Real Estate’s New Online Interactive Courses Give Students More Flexibility

Shelter in Place Like A Cool Cat in This Palm Springs Midcentury Modern

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.