The Comstock Foundation for History and Culture receives 501(c)(3) status from IRS

VIRGINIA CITY, Nev., July 8, 2014 /PRNewswire/ -- The Comstock Foundation for History and Culture is pleased to announce that it has received approval from the Internal Revenue Service for its 501(c)(3) non-profit status as a charitable organization. The Foundation was organized in 2013 with its filing with the Nevada Secretary of State. A subsequent application in October 2013 to the Internal Revenue Service received approval in June 2014.

"We are all elated that the Comstock Foundation has achieved federally-recognized, non-profit status," said Corrado De Gasperis, Chairman of the Board of the Comstock Foundation.  De Gasperis is also the CEO of Comstock Mining Inc., which has dedicated a one percent royalty of its mine in Storey County to the Comstock Foundation for the advancement of historic preservation and other aspects of cultural development within the historic district.  "Our Board wholeheartedly encourages people to make a tax deductible donation to support the Foundation's critical, ongoing efforts."

The Comstock received National Historic Landmark status in 1961 in recognition of the production of enormous wealth and because of its role in advancing mining technology in the nineteenth and early twentieth centuries. The Comstock Lode was discovered in 1859 and remained prosperous for twenty years. Mining has occurred every decade since then, and in fact, the Comstock played a pivotal role in the twentieth-century development of cyanide processing of gold and silver ore. The buildings that survive from the historic period are often in need of repair, and the mandate of the Comstock Foundation is to assist with the preservation of the district.

The Comstock Foundation for History and Culture recently completed the restoration of the Upper Yellow Jacket Hoist and Ore Chute in Gold Hill, directly above the Virginia and Truckee Railroad tracks. Other activities of the Foundation have included fundraisers for various organizations within the Comstock Historic District, and restoration work at the Historic Fourth Ward School Museum, the St. Mary's Arts Center and Retreat, and the Gold Hill Depot.

Non-profit status from the IRS allows the Foundation to apply for certain types of grants from public and private sources. It also allows the Foundation to ask for free public service announcements on radio and television and to receive free or discounted rates from various sorts of media. Exemptions from non-profit organizations from state sales and use taxes are described in Nevada Revised Statue 372.326.

The Comstock Foundation for History and Culture is a 501(c)(3) organization. Its federal ID number is 46-3126978. Donations for Foundation activities are tax deductible pursuant to the provisions of section 170 of the Internal Revenue Code. The Foundation's mission is to encourage the preservation and promotion of historic and cultural resources within the Comstock Historic District.

For information about the Comstock Foundation for History and Culture and its projects go to www.comstockfoundation.org or contact Ron James at 775-443-7803.

SOURCE Comstock Foundation for History and Culture

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