DEEP Fund Gets Nonprofit Status; Donations to Preserve Historic Architecture Are Tax Deductible

The DEEP Fund hopes to raise enough to preserve at-risk properties, such as this stately manor at 4109 Live Oak that was demolished last year.

Good news for preservationists Lisa Marie Gala, Virginia McAlester, and Jim Rogers, as the IRS has granted the Dallas Endowment for Endangered Properties (DEEP) with tax exempt status under Section 501 (c)(3) of the U.S. Internal Revenue Code.

“May is National Historic Preservation Month and The National Historic Preservation Act’s 50th birthday in 2016, so opening our determination letter just a few days ago was perfectly timed and exhilarating,” said Gala. “DEEP’s revolving fund concept is straightforward: We will receive or buy, own, restore, deed restrict, and sell endangered properties. We will develop the properties with partners who are outstanding stewards. Most importantly, we will raise money for our revolving fund to execute our mission. This is new century preservation.”

Jump for more!

Dallas Endowment for Endangered Properties, Inc. is proud to announce it is now officially a public charity with tax-exempt status under Section 501(c)(3) of the United States Internal Revenue Code. Contributions donated to DEEP are fully tax-deductible retroactive to the founding of the organization on November 14, 2015. Gifts to support DEEP’s revolving fund are now 100% tax deductible. Receiving this positive determination from the IRS opens many doors for DEEP to expand fundraising activities and fully realize our goal to protect more historic properties that are at risk of further neglect or demolition.

Preservationists Lisa Marie Gala, Virginia McAlester, Jim Rogers, and our beloved Neil Emmons formed Dallas Endowment for Endangered Properties, Inc. (DEEP) is a 501(c)(3) non-profit corporation whose objective is to acquire, control, and mitigate damage to historic properties identified as valuable and economically viable for reuse.

DEEP maintains its revolving fund account where donations of any size can be made:

Veritex Community Bank
Lakewood Branch
2101 Abrams Road
Dallas, Texas 75214

Personal Banker: Amanda Surratt
(214) 269 – 2115