We’re Now A Corporation!

Posted on December 16, 2011

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The Annapolis Tapestries has taken a giant step forward and filed papers to form a nonstock corporation with the State of Maryland.  The application with the Maryland State Department of Assessments and Taxation, Charter Division, was approved in December  2011. 

This action allows us to begin preparing an application with the IRS to secure nonprofit tax exempt status.  While this application normally takes several months to complete and receive IRS approval, we are working to establish the legal aspects of The Annapolis Tapestries’ organization, including the Board of Trustees.

Nonprofit status will permit us to apply for grants open only to 501 (C)(3) organizations and solicit tax deductible contributions from individuals and businesses.  This will enhance our fundraising capabilities significantly.  In addition, the legal status as a corporation will help us make decisions that will preserve and maintain these historic tapestries for future generations to learn from, and enjoy, through exhibits and displays in Maryland and across the nation.

The Annapolis Tapestries, Inc., also is applying for membership with the Maryland Nonprofits organization as an emergent nonprofit organization.

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