The IRS has a webpage on non-profits at
http://www.irs.gov/charities/index.html

Basically, if your accounting is accurate and the proceeds go towards  
something within the scope of public benefit activities defined by  
your mission you're maintaining non-profit status. The important thing  
is to make sure someone who can exert some control over the museum  
does not have excess benefit from the sale.


On Nov 4, 2009, at 2:39 PM, Julie Blood wrote:

> Hi everyone,
>
> I'm looking for some information regarding the use of funds from the  
> deaccessioning of objects in the permanent collection.  I remember  
> attending a workshop last year that mentioned that the funds are  
> restricted to acquisition of items for the collection and that funds  
> not being used in that way could have repercussions towards the non- 
> profit from the IRS.  Can anybody clarify this for me and direct me  
> to a site that specifically has that information.  I was asked by  
> one of our board members to research this information.  There seems  
> to be a lot of confusion surrounding this topic, so any help would  
> be appreciated.
>
> Thanks,
> Julie
>
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