Re: [MV] More Demil B.S.

Richard Van Hoomissen (rvanhoo@IBM.net)
Tue, 23 Mar 1999 10:23:20 -0800

A bit of confusion here. The only thing IRS grants and they have no
choice if you meet the regs, is Section 501 C 3 status. (Tax Exempt.)
Thereby the corporation can accept goods and the donor gets a deduction
on his taxes if he itemizes. Corporation status (profit or non profit)
is granted by the state in which the incorporators decide to create the
corporation. For example the Orgon Military Museum Foundation is an
Oregon non-profit corporation organized and existing (25 years)in the
state of Oregon and has 501-c-3 status. Its purpose is to support The
Oregon Military Museum a creature of state statute in the hands of the
Oregon National Guard. Donations to either entity are deductible. And
if you want to donate anything we will take good care of it. We have a
fine
firearms collection and 3 Liberty trucks out of which we will make one
fine one. We have tanks, trucks, arty, uniforms to bursting, and lots of
radios, books, films, pictures, and we are open for your viewing
frequently. Only one man gets paid a salary (small)and he is as happy
as a clam. I digress...start your own or get on board. We have to
account to army museum for stuff that is "on loan" but transportation
keeps it all here. People who don't want grandpa stuff to end up in the
dumper show up often and donate it. Richard.

OConnor, Dennis wrote:
>
> >If u called urself or a group of you a "Museum" what do you need to do
> >to get legal status? K
>
> IRS grants the status as a museum. You have to incorporate as a "for profit"
> business operating a museum or a "non profit" historical organization that
> would then seek museum status (after the permanent non profit status had
> been granted - several years in some cases). You can't just call yourself a
> museum and ask the government to give you stuff; it requires you to meet a
> number of guidelines. These include a building (dedicated solely to the
> purpose intended - your garage doesn't qualify), public hours, staff, board
> of directors and officers, etc. If you can meet the guidelines (which may
> have changed since the last set I saw a few years back) then you get a
> better shot at lots of stuff. Catch 22 is....it's not yours (they retain
> actual title to most things but the museum has it as a "permanent" loan) and
> you are subject to a lot of regs about use and care and they can come
> inspect whenever they want to ensure you're taking care of their stuff. If
> you violate the rules (or they send someone who'll say you did just to close
> you down) then the penalties are pretty stiff.
>
> Good Luck,
> Dennis O'Connor
>
> ===
> To unsubscribe from the mil-veh mailing list, send the single word
> UNSUBSCRIBE in the body of a message to <mil-veh-request@skylee.com>.

===
To unsubscribe from the mil-veh mailing list, send the single word
UNSUBSCRIBE in the body of a message to <mil-veh-request@skylee.com>.