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TAX EXEMPT STATUS OF SPORTS ORGANIZATIONS BACK IN THE NEWS
Published September 26, 1995
The tax exempt status of some "non-profit" organizations is back in the new -- again, with a focus on the sports world. The issue is the cover story in this week's U.S. NEWS & WORLD REPORT and was featured on ABC's "World News Tonight" last night. The salaries paid to top executives at the PGA Tour, MLBPA and the NFL are detailed in the U.S. NEWS piece by Pound, Cohen & Loeb. One thing "that has captured the attention of the few members of Congress willing to take on non-profits and their powerful lobbies is executive compensation. The dollars are huge." The NFL pays Commissioner Paul Tagliabue $2.5M and has given him a $250,000 loan. Also listed is the salary of the MLBPA Exec Dir Donald Fehr (U.S. NEWS, 10/2 issue). Last night, ABC's John Martin examined the ATP and PGA Tours. While players pay taxes on earnings, "business leagues" like the PGA and ATP are exempted. Sen. Byron Dorgan (D-ND): "I think it is safe to say the IRS has no idea how much money they are losing here" ("World News Tonight," ABC, 9/25).