Our university museum has a 501c3 “Friends” organization.  Over the past few decades this friends group has just been relatively inactive.  In the past the organization raised money for special projects, acquisitions, and brought artists in the museum for demonstrations and workshops.  All of the organization’s accounts fall under the university’s foundation office.  It does not seem that the museum or the organization takes advantage of its 501c3 status and benefits.  If we revive this friends group, should be revive it as a 501c3 or disband the 501c3 and revive it as a museum volunteer group?

 

Could other university museums provide me with the pros and cons of having 501c3 organizations versus having a volunteer group?