Thanks to all your generosity we have enough in donations and pledges to obtain the trucks we want for Car 57, wonderful news........however.....
The trucks we require are under a 70 ft wood passenger car and we are required to move that too, it has huge benefits for us if we can achieve this
1. we get the trucks we need for when we need them.

2. We get a wooden car in sad state but full of excellent parts that we need for 57 inc seats, bathrooms, running gear, etc

3. The other wooden car will be saved from scrapping and still exist and be stabilised with the potential to be restored.

All this is ONLY 600 miles from Cheyenne.
Please help us achieve this if you can in any way, we need to raise another $3,000-$4,000 towards this task, and we are looking for leads on transportation. We hope not to have to crane the car but jack it and slide transport under it, this will save thousands on crane hire. We already have transport arranged for the trucks.

Many thanks once again for all your responses already.

Mike Pannell
Cheyenne
307-221-2371

Just out of curiosity, which non-profit owns Car 57?

Richard Wilkens

We are not a non profit, just two owners of a big wooden car, which we want to restore and display for the benefit of the public.

Mike Pannell

Great news, Mike. I'd love to donate, but that'd take away from my project!
What's the car above the bogies (sorry, trucks)?
BTW, thanks for your email about Peter Anderson. Small world, eh?
Cheers, Bob

Maybe you should consider forming a non-profit corporation so that you and the other owner can't be personally held liable for incidents relating to the car, and so that you'll be able to solicit tax-deductible donations. The liability would bother me. I know it's not as much fun as researching and working on the car, but it's important.

Walt L.

Perhaps you would consider assisting us with the 501c3 paperwork or give me direction on that Walt or anyone ?
I dont understand exactlt what you mean about liability, we have insurance and we are covered by insurance on the parking lot the car is in.

If Liabilty becomes too much of an issue then we move back to private land again.

Mike

Your project sounds very interesting and I have been following it closely. I do wish you the very best - wooden car work is complex and expensive to do correctly.

Your solicitation of donations does raise some questions, because you have identified yourself as a private party and not a 501(c) 3. I think the liability has more to do with finances. For instance -

-Who will be claiming the "contributions" as income and declaring it on their Federal and State income tax returns?
-Have you made it clear to your "contributors" that they cannot deduct any portion of their financial support under the charitable contribution deduction?
-What about property tax on the railroad car?
-What about capital gains as the car appreciates in value with the work you are performing? Even if you decide not to sell the carn your lifetime, how would that affect your estate? What about 57's disposition after your passing?
-If the car is exhibited on public property, have you considered how to avoid "gift of public funds" issues? (The public benefit of exhibiting the car may or may not be enough.)
-Have you registered as a fundraiser in your state?

I'm not a tax attorney - and they'd need more information anyways - but perhaps now is the time to get some answers before you find yourself with an unfunded tax liability, and possibly a substantial penalty too. Or much, much worst, car 57 in a tax auction. Or perhaps you have this all figured out in which case I extend my apologies.

Again, you are doing great work as evidenced by the photos you have been posting on your site. I hope you make sure that administrative issues don't threaten your dream.

--Richard

There are three steps to be taken. Step one is to form an entity to own the car. If you want your organization to be able to receive tax-exempt, tax-deductible contributions, that would be a non-profit, non-stock corporation. Your state business corporation office will be able to provide you with general information and forms explaining this process and the associated fees.

The second step would be to apply for a federal tax ID number, often called the FEIN (federal employer identification number). This is done when you receive the paperwork from your state informing you that the corporation has been created. Visit the irs.gov website for information on applying for your ID number.

The next step is to file an application for "tax-exempt" status. Information on this, too, is contained on the irs.gov website. There is a fee associated with filing this form. One point to remember here, as the IRS website states: While all tax-exempt organizations are non-profits, not all non-profits are tax-exempt. You will need to "dot all your "i"s and cross all your "t"s" to qualify as a tax-exempt. However, the benefit to both your organization and its donors can be considerable.

These are the general, basic processes needed. Your home state may require more regulatory filings at the state and/or local level of government.

Good Luck!

--Ray

Thanks Ray
That outlines the steps we need to take, our other option i guess is to turn over ownership of the car to the depot museum. I have taken steps to start the process which i have been putting off to be honest because of so many other more important drains on our finances.

Thanks

Mike Pannell