Salem Art Association

“The association is responsible for the care and maintenance of the historical objects and collections on display in the bush house museum, as well as objects in its custody for future display or interpretive purposes. The association has established policies which limit the disposal of any item from the collection. In addition, the association only accepts objects for its collection which either belonged to the bush family or is otherwise appropriate to the period. The association has a permanent collection of works of art, some of which were received as donations, while others were purchased. Donations and acquisitions of collections are held for public exhibition and education and the furtherance of public service, rather than financial gain. Each is catalogued, protected, kept unencumbered, cared for and preserved. Activities verifying their existence and assessing their condition are performed continuously. The collection is subject to a policy that requires the proceeds from sales of collection items to be used to acquire other items for the collection.”

“Historical objects and art collections are on display in the bush house museum and galleries operated by the association that are open to the public. All items are held for public exhibition and education.”

“The organization qualifies as a tax-exempt organization under 501(c)(3) of the internal revenue code. An exemption from the state of oregon corporation excise tax is provided by oregon revised statutes 317.080(1). Therefore, there is no provision for federal or state income taxes on its operations related to its exempt status. Management has analyzed tax positions and has concluded that no liability for unrecognized tax benefits should be recorded related to the uncertain tax positions taken on the returns filed for 2010 through 2012. Management is not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months.”