Hi
Instead of becoming a 501c3, your group might want to consider working with a fiscal sponsor so you don’t have to become a 501c3. It’s worth exploring as an option.
Kay Voyvodich
KV+Associates
On Oct 1, 2015, at 11:35 AM, Elizabeth Maurer <[log in to unmask]> wrote:
Hi
It sounds like you formed a group that operates a museum in a government-owned resource. Your ability to fundraise is dependent on your operating agreement and your current non-profit status.
If you are already a 501c3, then people can make tax deductible donations to you. Your "friends" group could be structured as a donor society, i.e. Presidents Circle, Young Patrons, etc.
If you are not a non profit but rather a vendor who has contracted with the county to operate the resource, then you would have to form a separate 501c3 to accept donations. However, the non profit Board would have to be independent from the "business" entity.
If you are neither a 501c3 nor a vendor/business/LLC (keeping in mind you can incorporate as a non profit corporation), but rather a loose knit group of volunteers that manages the resource for the county, then you are limited in your ability to fundraise. A legal entity with a defined tax status has to exist to accept the donations or revenue.
Make sense?
Liz Maurer
Re-Living History
> On Oct 1, 2015, at 1:04 PM, Andrew Kirkland <[log in to unmask]> wrote:
>
> I should probably clarify a little. As I stated we are currently funded by the local tourism council. I guess you could say that we are technically part of them. The building we are in is also currently owned by the county commissioners but leased by the TC. The museum itself has a board of directors and we are right now trying to figure out if we are going to break away and become our own independent organization, which we would then apply for 501c(3). As I type and read comments, I guess I should have worded my question a little better. How possible, or practical (which is probably a better word), is it to form a friends-like organization that is part of the museum organization?
>
> =========================================================
> Important Subscriber Information:
>
> The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed information about the listserv commands by sending a one line e-mail message to [log in to unmask] . The body of the message should read "help" (without the quotes).
>
> If you decide to leave Museum-L, please send a one line e-mail message to [log in to unmask] . The body of the message should read "Signoff Museum-L" (without the quotes).
=========================================================
Important Subscriber Information:
The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed information about the listserv commands by sending a one line e-mail message to [log in to unmask] . The body of the message should read "help" (without the quotes).
If you decide to leave Museum-L, please send a one line e-mail message to [log in to unmask] . The body of the message should read "Signoff Museum-L" (without the quotes).
=========================================================
Important Subscriber Information:
The Museum-L FAQ file is located at http://www.finalchapter.com/museum-l-faq/ . You may obtain detailed information about the listserv commands by sending a one line e-mail message to [log in to unmask] . The body of the message should read "help" (without the quotes).
If you decide to leave Museum-L, please send a one line e-mail message to [log in to unmask] . The body of the message should read "Signoff Museum-L" (without the quotes).
|
