There must be at least one. Donald Trump supporter, who would raise an eye at the notion that Donald Trump would label any kind of business of his as non-profit. The residents of Trump Palace Condominium would likely laugh at the notion the place in which they live is a non-profit, being that Trump Palace Condominiums cost in the range of $625,000 to $9,995,000. If the Donald Trump Foundation isn’t charitable, you can be certain Trump Palace Condominium isn’t either. How many poor person do you know seeking condominium worth $625,000 to $9,995,000
The Palace has received several federal contracts over the years. Government records shows Trump Palace Condominiums was awarded a government contract on August 17, 2016 which expires August 17, 2017.
Second example of Trump Palace Condominium being listed as a non-profit:
Taken from one of the government’s website where Donald Trump is applying for a grant:
On the following site call OneTeam, this organization help businesses get government contracts. As you will see below in the image, under business type, Trump’s business is listed as non-profit
On this OneTeam website, it provides the following information about itself.
The Trident Group, Inc. (TGI) has been providing services in the government contracting industry since 2002. Glenn Meyer, TGI’s founder, spent 10 years as a Project Management Consultant, before launching TGI as a small defense contractor to provide IT and software development support to Prime Contractors. Over the next decade, TGI grew steadily, landing significant subcontracts with large prime contractors like Boeing and SAIC….The OneTeam idea was born in the summer of 2014, and the team set out to build a Software-as-a-Service (SaaS) solution that would affordably leverage Cloud technologies to provide any small or medium-sized business with a web browser, access to sophisticated, enterprise-grade management tools.
To be of fair of course, I wanted to make sure I wasn’t misunderstanding what was meant by non-profit, so I’ve provided below several examples on non-profit developments.
Non-profit housing developers build affordable housing for individuals under-served by the private market. The non-profit housing sector is composed ofcommunity development corporations (CDC) and national and regional non-profit housing organizations whose mission is to provide for the needy, the elderly, working households, and others that the private housing market does not adequately serv
Non-profit development vs. for-profit development
Both the non-profit sector and for-profit sector build affordable housing, although missions, operations and financial and technical abilities differ. The core difference between a for-profit and a non-profit organization is that for-profit entities operate to produce returns to owners or shareholders, whereas non-profits either reinvest profits into the organization and/or donate money to serve their mission. This inherent difference of organizational objective dictates the operational strategy of their projects; for-profits are likely to create affordable housing that maximizes profits, where non-profits aim to serve the most vulnerable populations. Examples of strategies that for-profit entities use to maximize profits include locating their projects in neighborhoods with strong rental markets, mixing market-rate units into their buildings to increase operating income, and developing an exit strategy to maximize sale proceeds from their building. Conversely, non-profits are more likely to develop in distressed neighborhoods, dedicate all of their units to low-income tenants and operate projects for the long-term in order to fulfill the mission of affordability.
As a result of their business strategy, non-profits lack the financial and technical resources of for-profits, thus, forcing them to rely on multiple funding sources such as public and private grants and subsidies in order to cover development costs. Using multiple funding sources is risky because it creates complex financing which can be both timely and expensive. Most of these public and private sources exist exclusively for non-profit entities and although this provides an advantage for the non-profit industry, for-profits would often refrain from spending the uncompensated time and effort for such complicated deals.
To be sure that this labeling non-exempt was really referring to Trump Palace Condominiums I decided to to a comparison on Boeing to see what information what would be brought up when I ran a search on Boeing. As you can see below the Business type for Boeing indeed the Business Types changed. Boeing for under ‘Business Types’ is labeled a ‘For Profit Organization’, Manufacturer of Goods, ‘Contracts and Grants’. Trump Palace Condominiums on the other hand is listed as a Non-Profit Organization and Contracts and Grants.