Plum Benefit to Cultural Post: Tax-Free Housing

New York Pravda Times ^ | August 9, 2010 | KEVIN FLYNN and STEPHANIE STROM

[Leisler]

In addition to her $877,000 compensation package, Ellen V. Futter, president of the American Museum of Natural History, lives rent free in a $5 million East Side apartment that the museum bought when she came aboard.

he Metropolitan Museum of Art houses its director, Thomas P. Campbell, in a $4 million co-op that it owns across Fifth Avenue from the museum.

The director of the Museum of Modern Art, Glenn D. Lowry, may have the best deal of all. In addition to the $2 million in salary and benefits he earned last year, he lives in a $6 million condo in the tower atop the museum.

But it’s not just the nice — and free — accommodation: None of these museum heads pay income tax on the value of this housing,

[Leisler]

Taxes are only for little people, who must have their money taken from them, by their betters, for their own good. Otherwise, they would waste it upon themselves.

[teancumspirit]

In 1991 I took a job as a apartment maintance super in Az, as they required me to live on site, my aptment and utillitys were not part of the pay package. Therefor was not taxed as income. This lowerd my taxable income, ssi, ect.

[BMCinSC]

While the municipality (i.e. taxpayers) funded the operation (i.e. salaries) and maintenance of the facilities, the wealthy trustees, including the Dodge, Huntington, Morgan, Rockefeller, Schiff, Vanderbilt, and Whitney families, were responsible for acquiring and managing the collections. This method of financing has continued, supplemented by endowments, membership dues, and entrance fees.

[SkyPilot]

That's Ellen V. Futter on the right.

[VOA]

bump

[mommyq]

Aren’t they supposed to pay taxes on the imputed income???

[Oratam]

Maybe I'm dumb but why would they pay income tax on the value of these homes . . . even if it's part of their pay package?

[ridesthemiles]

There is definately an income tax structure for ‘room & board’ such as found on ranches.

[Colorado Cowgirl]

My eyes, my eyes! Warn somebody next time. They both would have to sneak up on a glass of water, just to get a drink.

[Oratam]

I agree but wouldn’t it be based on what such a property would rent for not its value? (At the risk of appearing as though I’m splitting hairs my real concern is I fear the NYT is beginning to push for a “wealth tax”.)