IRS okays nonprofit profits
When the Public Broadcasting stations in New York (WNET), Washington (WETA), Chicago (WTTW) and Los Angeles (KCET) launched the monthly television guide Dial (circ. 690,000) last September, praise from charter subscribers was all but overwhelmed by protests from other publishers. Reason: Dial, which is sent to supporters of sponsoring stations (now including WTVS Detroit) who contribute at least $25 a year, would compete for advertising with commercial magazines while enjoying Public Broadcasting's nonprofit advantages. Among those breaks: generous tax exemptions, lower postal rates, tax-deductible subscription fees and free promotion on PBS stations.* Publisher Philip Merrill, whose Washingtonian (circ....
