The Creation of the Comstock Foundation for History and Culture
In 2010, Comstock Mining, Inc. began to conceive of an innovative approach to dealing with the collapsing historic resources of the National Historic Landmark. The company committed to donating 1 percent of its bullion from the Lucerne Pit in Storey County to preservation efforts. After careful planning, the leadership of Comstock Mining concluded that there needed to be a private non-profit organization that would use those funds to help save the most endangered historic resources of the district.
During the summer of 2013, the Comstock Foundation for History and Culture achieved formal legal status with the State of Nevada and held its first board meeting. It also began several initiatives to achieve specific preservation goals. In early 2014, the Internal Revenue Service granted the Foundation formal 501(c)(3) status as a non-profit organization. In addition, the Nevada Department of Taxation allowed the organization to be exempt from paying state sales taxes.
The Mandate of the Comstock Foundation for History and Culture
The Comstock Foundation for History and Culture encourages the preservation and promotion of historic and cultural resources within the Comstock Historic District also known as the Virginia City National Historic Landmark District. Such purposes, either through direct activity or the awarding of grants, include but are not limited to:
(a) The acquisition, restoration, and/or preservation and maintenance of historic structures and objects;
(b) The excavation of historic sites directed by archaeologists with permits granted by the state and/or federal government;
(c) The promotion of community outreach including but not limited to the advocacy and celebration of festivals, exhibits, lectures, and other programs, and for the support of publications associated with the history of the Comstock Historic District and Western mining;
(d) Outreach to property owners within the Comstock Historic District to encourage preservation of historic resources and to advise on preservation issues;
(e) Solicitation, acceptance and receipt of moneys, legacies, gifts, grants, contributions, endowments, property in kind, real or personal, and thereafter to hold, invest, re-invest and manage the same, and utilize the income or principal in such amounts and at such times as the Board of Directors of the Comstock Foundation for History and Culture shall determine, exclusively for charitable purposes as described in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended (the “Code”);
(f) Engagement in any other lawful activity for which a corporation may be formed under the Law, as the same may be amended from time to time, which is necessary or convenient to effect, or which is conducive to the attainment of, the foregoing purposes.
The Comstock Foundation | PO Box 61 • 1669 Main Street • Virginia City • Nevada 89440
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