IRS Revokes Slavery Museum’s Tax Exemption
February 23, 2012 | Read Time: 1 minute
Less than a week after filing a bankruptcy reorganization plan reliant on raising private money, the planned U.S. National Slavery Museum has lost its ability to collect tax-deductible donations, writes The Washington Post.
On Wednesday, the Internal Revenue Serviced yanked the long-planned Virginia institution’s tax-exempt status because it has not filed a federal return since 2007. Under IRS rules, charities that do not submit returns for three years running are subject to revocation but can re-apply for the exemption.
The move adds another obstacle to realizing the museum project, which former Virginia governor L. Douglas Wilder began nearly two decades ago. The project has been largely dormant for several years amid mounting debt.
In its reorganization plan unveiled Friday, the museum anticipated raising $900,000 this year to get the project back on track. Neither Mr. Wilder nor an attorney for the museum returned calls for comment on the IRS decision.
