Masonic Temple Association of Carlisle PA

The Association holds title to a building containing space to hold events that are rented to the general public and the organizations which are exempt from federal income tax under Sec 501(c) of the Code. The Association collects rent, pays the expenses incident to operation and maintenance of the building, and turns over the remainder to its parent which is an exempt organization. The Association renders no substantial services to the tenants other than the normal maintenance of the building and grounds. Sec. 501(C)(2) of the Code provides for exemption from federal income tax of an association organized for the exclusive purpose of holding title to property, collecting income from the property and turning over the entire amount of the income, less expenses, to the organization involved which are also exempt from federal income tax.