Colorado board says that the center is subject to up to $2.5 million in back taxes since 2002.
The Denver Post (Steve Lipsher) reports that the Colorado Board of Assessment Appeals has ruled against the YMCA of the Rockies (EIN 84-0404913 Form 990), deciding that their camps Snow Mountain Ranch and Estes Park Center are not exempt from property tax, except for the small portion of the land occupied by chapel facilities. Previously a property tax administrator had ruled that the entire 2,187 acre ranch and 860 acre center were exempt.
A glance at the organization's web site confirms that the marketing emphasis is on recreation. Although religious activities are mentioned, there is no confusing these site with spiritual retreat centers. The Form 990 reports that the Estes Park Center had expenses of $12.1 million and served 139,000 visitors in 2005. The ranch hosted 79,000 and had expenses of $7.8 million.
The organization has about $5 million invested in securities, so payment of the $2.5 million in back taxes won't jeopardize the operation, but it is still a significant amount. But with $17.2 million in user fees and $9.1 million in retail sales, there is enough of an earned income base to handle an additional $500,000 per year in taxes.
Assuming the taxes stick. The Y is still considering whether to appeal the decision to the courts. The outcome of charitable property tax disputes have a way of flip-flopping as they move through the appeals process.
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Posted by: Jordan Big Fund | January 13, 2011 at 03:05 AM