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Charities Bestow No-Interest Loans on Their Well-Paid Executives
By Harvy Lipman and Grant Williams
For the past 15 years, John Rowe has owned a duplex penthouse apartment that offers a view of Manhattan from its perch 29 stories above Central Park.
Dr. Rowe bought the apartment in 1989 using a $2.25-million, interest-free loan from the nonprofit Mount Sinai Hospital and School of Medicine, which made the deal...