Quote:
Originally Posted by twoplustwo
So what happens when the non-profits sell their property? No doubt they got the land at an initial low price, if it wasn't donated. So when they sell their $10 million property, what happens?
If you're the Diocese of Manchester, you build another church down the road, pocket the cash, .........l.
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I'm not quite sure that's what happened with St Charles in Meredith. Seems they ended up with a mortgage after all the transactions plus a large capital campaign. Most of you are forgetting that most legitimate non-profits rely on donations for their existence.