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News Details (Posted: December 29, 2006):
ARTS COMMISSION RECEIVES 501 (c) (3) STATUS
Full Description:
Officials with the Arts of Collin County presented documents Friday showing the organization has achieved charitable status with the Internal Revenue Service.
James Baudoin, executive director of the Arts of Collin County, showed the form stating that the IRS had accepted the group’s application for tax exempt status under section 501 (c) (3) of the internal revenue code.
Time stamps on the document show the IRS sent the document to the Arts of Collin County Commission on Dec. 4 and was received on Dec. 6. The exemption period dates back to Feb. 6, 2004, according to the document signed by Lois G. Lerner
Jack Lagos, a Plano resident, brought up the claim that the district had not achieved 501 (c) (3) status and possibly did not own the land on which the Arts Hall was to be built. At the time he made the claim the IRS reported that the Arts Commission had not achieved charitable status.
“The land was never deeded to the commission,” Lagos said. “Instead, the public and media were led to believe the land had been donated. Unknown to many, a contingency contract exists.”
Members of the arts council agreed that a contingency contract did exist, a contract not unlike most used in projects of this nature.
“The land belongs to the Arts Council,” said Maher Maso, Frisco’s representative on the commission. “But Briar Ridge Investments wanted to make sure that the arts complex is built on the land. They donated the land for the express purpose of donating it for the arts. And that’s what we are doing.”
According to commission members, the tax status is just one step of a long process of preparing to build the hall.
“This is a long process,” said Baudoin. “We will be breaking ground soon to prepare the property for development and getting waterways in place. This is a complicated project but it has been made much easier by how well the member cities (Plano, Frisco and Allen) work together. Issues that could have been much more difficult to resolve were taken care of by people who want this project to be a success.”
Lagos also pointed out that there is an increase in the price of the development, from $73 million to $85 million.
“The escalation in building cost has been a disappointing but not totally unexpected part of the process,” Maso said. “Costs go up. Unfortunately the costs here have gone up more than most expected. We simply have to deal with the problem and move forward. The escalating costs are the biggest problems we’ve faced so far.”
