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IRS ruling hits capital firm, Nehemiah’s homebuyer aid can’t be tax-exempt

May 6, 2006

A pioneering down payment assistance program for low-income families that began in Sacramento and mushroomed into a national force known as Nehemiah Corp. of America has been called into question by the IRS, saying the program doesn\'t qualify as a tax-exempt charity.
\"It\'s a double benefit. That seems to me to be what they\'re reacting to,\" said Nicole McAllister, director of development and external affairs at the University of Southern California\'s Lusk Center for Real Estate.