2 Aug
2010
2 Aug
'10
8:50 p.m.
On 2 Aug 2010 at 23:37, William Donzelli wrote:
Without USNY accreditation, it's next to
impossible for a museum in
New York State to obtain tax exempt status as a museum. ?It's
similar to the accreditation requirement for public lending
libraries.
As regards Federal tax status, is there any practical difference
between being a tax-exempt museum and a plain old 510(c)3 corp.?
"To be tax-exempt under section 501(c)(3) of the Internal Revenue
Code, an organization must be organized and operated exclusively for
exempt purposes set forth in section 501(c)(3), and none of its
earnings may inure to any private shareholder or individual. In
addition, it may not be an action organization, i.e., it may not
attempt to influence legislation as a substantial part of its
activities and it may not participate in any campaign activity for or
against political candidates."
--Chuck