A group of more than 20 residents has filed a lawsuit, casting the university as a giant and profitable corporation that hides behind its tax exempt status.

This arrangement provides tax exempt status to the bonds, and many times a property tax exemption on the collateral.

Failure to file yearly accounting statements saw the charity lose its tax exempt status in 2002.

Failure to maintain operations in conformity to the laws may result in an organization losing its tax exempt status.

In 1989, the mayor promised them a $30,000 grant, but the group had trouble obtaining the tax exempt status required for them to accept the grant.