— in expenses

Moffitt real estate holding corporation, which is a subsidiary of h. Lee moffitt cancer center and research institute, INC. (the institute), was formed for the exclusive purpose of holding title to a 775 acre campus located in pasco county, FL, collecting the income therefrom, and distributing such income to its sole member, the institute. The institute is currently in the process of developing the property as a global lifesciences and research innovation campus known as "speros FL." as a 501(c)(2) entity, moffitt real estate holding corporation's only permitted activities include holding title to real property and turning over any net income from the property to a tax exempt entity.