Session Overview
As a relatively new nonprofit (1.5 yrs), we want to ensure that our accounting system and documentation that we’re setting up will sufficiently meet the scrutiny of the IRS and any future outside audit. At question: 1. Specific deductions that can be taken when there is shared use between personal and professional (i.e., housing space, travel, business equipment); 2. Transferring the ownership of the art collection from the legal heir to the nonprofit organization which is tasked to conserve; 3. Advice on professional services we need to contract with given our budget (under $50,000). www.wolfgangwolff.org, https://docs.google.com/spreadsheets/d/1Ne9gZx0hUxktnPMmesS1nwBJy9o18_cOfWb5XQr4lcc/edit#gid=0
Nonprofit Overview
Our mission is to preserve and promote the artwork and life story of Wolfgang Wolff. The collection includes paintings, drawings, woodcuts/prints, jewelry, book illustrations, and textile designs, and has been exhibited internationally. The goal of the WWF is to display the work of Wolff in exhibits as well as to integrate parts of the collection within other museums, most likely located in Western Europe, the U.S. and the Pacific Islands.