FREE: TWO BC-669s

[Charles Bacon]

Hi John,

The museum is formed as a non-profit organization in Colorado. 501(c)(3)
status is at the Federal level, and is granted after many, many months of
detailed and complex work, paperwork, forms, etc. The Federal statutes show
that as long as 501(c)(3) status is applied for within 27 months of
incorporation, the status is granted back to the original date of
incorporation, and the museum can accept donations now.

Here's some verbiage from the Wikipedia that says it better: "Some
organizations automatically acquire 501(c)(3) status upon filing of proper
organic documents (e.g., articles of incorporation as a church), at least
until annual income exceeds a statutory threshold. Others will not receive
501(c)(3) status until they file an application and supporting documentation
to the IRS and have a certification letter issued. The IRS will examine the
application and may request further financial and organization information
prior to granting the 501(c)(3) status. To cover donations made before the
letter is issued, the regulations require prompt filing of the application
after organization, or after an existing organization satisfies the criteria
for 501(c)(3), or after exceeding the income threshold."

We're doing things right, and careful. I hope this answers your question.

Charles



-----Original Message-----
From: J Forster [mailto:jfor at quik.com] 
Sent: Friday, September 07, 2007 6:37 PM
To: cfb at DUE.COM
Cc: BOATANCHORS at LISTSERV.TEMPE.GOV
Subject: Re: [BOATANCHORS-TEMPE] FREE: TWO BC-669s



Charles Bacon wrote:

> Dee, and The List,
>
> I have just started a non-profit museum, and would be happy to take these
in
> as donations, which of course would allow you to take a tax-deduction.
> However, I am in Colorado, not exactly close to Virginia!

Hi,

What's the museum's mission? Is it 501C3?

-John

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