[Fredslist] FW: Tax Exempt Status for a Building as a Museum?

[Langsam, Andrew]

From: Langsam, Andrew 
Sent: Tuesday, June 02, 2009 8:57 PM
To: Langsam, Andrew
Subject: Tax Exempt Status for a Building as a Museum?


I have a father in law who owns a substantial piece of  real  property
in the Bronx.  It is currently partial income producing.  The bulk,
however, of what used to be a lamp factory (his) he has recently
converted into a Museum, of artwork, sculpture, glass work, etc.,
relating to religions, The Holocaust, 911, etc.  For a 92 year old,
spending his own money on this Museum, it is impressive but it is still
The Bronx.  
 
He would like to know how to exempt part or most of the Factory  (likely
on a square footage basis)  from taxation because of  this open to the
public Museum.  Is anyone familiar with the steps of incorporating a
not-for-profit institution, a Museum, and the approvals needed for tax
exempt property status?  We need to know a) someone who knows how to do
this; b) the steps required; and c) approximate costs to do so.
 
While I am with a NYC Law Firm having tax and corporate practice groups,
I don't want my firm involved for conflict and other family reasons.  
 
Thanks.
 
Andy Langsam 


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