Hello everyone,
What has been the experience of 501(c)(3) museums who have had their exhibit space used for a dual purpose such as renting the space out for private dinners, company events, wedding anniversaries, and housewares shows with vendors, etc.? Considering the revenue received, which usually is the main purpose for renting the space, IRS regulations which in many instances may or may not be in compliance, and a number of other factors such as security and exhibit display disruptions, needed staff and volunteer attendance oversight, etc., have you encouraged and accepted the resulting revenue and what the "exposure" to the exhibits intangibly may produce in return? Being there are many different scenarios possible as to the building facilities space and public access, what is the general concensus of this type of usage and activity, with even possible taxation? Your comments and tips based on your experiences would be appreciated and helpful to possibly many museums seeking additional income.
Al Frank
Museum Consultant
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