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2 <br />Laughing Horse Arts Foundation <br />91-12't1173 <br />Your organizabon is not required to file federal income tax returns unless it is subject to the tax on unrelated <br />business income under section 511 of the Code. lf your organization is subject to this tax, it must file an <br />income tax retum on the Form 990-T, ExemptOrganization Business lncomeTax Retum, ln this letter, we <br />are not determining whether any of your organization's present or proposed activities are unrelated trade or <br />business as defined in section 513 of the Code. <br />The law requires you to make your organizetion's annual return available for public inspection wlthout charge <br />for three years after the due date of lhe refum. lf your organization had a copy of its application for <br />recognition of exemption on July 15, 1987, it is also rcquired to make available for public inspection a copy of <br />the exemption applicatisn, any supporting documents and the exemption le$er to any individual who requests <br />such documents in person or in writing. You can charge only a reasonable fee for reproduction and astual <br />postage costs for the-copied materials. The law does not require you to provide copies of public inspeclion <br />documents that are widely available, such as by posting them on the lntemat (Wortd Wde Web), You may <br />be liable for a penalty of $20 a day for eadr day you do not make these documents available fior public <br />inspec*irrn (up-to a rnaxirnum of $1l},000-i* the eass af an annual retr:nr|, <br />Because this letter could help resolve any questions about your organization's exempt statris and foundation <br />status, you should keep it with lhe organization's permanent records. <br />lf you have any questions, please call us at the telephone number shown in the heading of this letter. <br />This letter affirms your organization's exempt stiatus. <br />Sincerbly, <br />John E. Ricketts, Director, TE/GE <br />Customer Account Servlces