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"Music produces a kind of pleasure which human nature cannot do without." ~ Confucius
News 708 78s Donated to UT-Austin's Historical Music Recording Collection ...     Read More

The Audio Preservation Fund is a 501(c)(3) non-profit corporation. 501(c)(3) status is given by the Internal Revenue Service to non-profit organizations qualifying for tax-exempt status. Below are examples of how this status affects the business operations of the Audio Preservation Fund as well as examples of how it affects people who do business with us.

1. The Audio Preservation Fund is not required to pay sales tax on items purchased for business operations. This includes supplies and recordings purchased from other businesses.

2. The Audio Preservation Fund is still required to charge sales tax on items sold to customers.

3. Persons who donate money or property to the Audio Preservation Fund may use the value of their donation as a tax deduction at the end of the year. The Audio Preservation Fund will send a receipt to any donor interested in using their donation as a tax deduction. The Internal Revenue Code prohibits 501(c)(3) companies from assessing the fair market value of items donated to them, therefore the donor is responsible for assessing the value of their donation. If the donated items are sound recordings, you may visit the Appraising section of our website to read about the options for sound recording appraisal.

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