Creating A Museum : A Foundation Of Board Of Trustees

1198 Words Feb 2nd, 2016 5 Pages
The first step to creating a museum is to develop your mission. Once you have your mission, you will need to create a board of trustees. Then you must identify what type of organization you will be. In order to qualify for this bidding your organization must be a non-profit. Your group must file its articles of incorporations which is a legal document that is filed with the Secretary of State or Attorney General’s office. This document includes your museum’s name, broad purposes, and location. Next you must obtain a federal tax identification number, file for 501c3 (tax exempt status) with the IRS, and finally file for local and state tax exempt. In the District of Columbia, the guidelines for a non- profit are that it determines a mission, create a concept paper, and determine your organization type (which is 501c3). You must also establish a board, bylaws and a strategic plan. Non-profit organizations have many benefits including special tax exemptions for income tax, real property tax, and charitable deductions for donors. Under the non-profit tax code 501c3 your institution would be considered a charitable organization. As a charitable organization you are bound to follow the 3 duties, Duty of care (care for assets financial and non-financial), Duty of loyalty (no conflict of interest), and Duty of obedience (upholding the mission). In order for your museum to be successful you must have a diverse and dedicated board of trustees. Being a part of the board is an…
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