Forney Museum

“The museum operates as an educational institution to collect and preserve exhibits related to history and technology of all forms of transportation. "anything on wheels" is the museum's motto, and the museum boasts a one-of-a-kind collection of more than 500 exhibits relating to historical transportation. The museum is open to the general public where people can experience exhibits featuring antique automobiles from 1899 to 1976 including amelia earhart's kissel car and prince aly kahn's rolls royce, carriages, bicycles, motorcycles, farm machinery, one of the world's largest locomotive called the big boy, and much more.”

“The museum is a nonprofit corporation and has been recognized by the internal revenue service (irs) as exempt from federal income taxes under section 501(a) of the internal revenue code as an organization described in section 501(c)(3), qualify for the charitable contribution deduction under section 170(b)(1)(a)(viii), and has been determined not to be a private foundation under section 509(a)(2). The museum is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the museum is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The museum has determined it is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs. The museum believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The museum would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.”

“Special event expenses netted with income on form 990 -32,367.”

“Special event expenses netted with income on form 990 32,367.”