Through the Kansas Community Service Program (CSP), the Kansas Cosmosphere and Space Center has been awarded the opportunity to return $100,000 in tax credits to donors who contribute through December 2013 to approved projects.
Each year since 1994, the CSP has given nonprofit organizations a way to improve their ability to undertake major capital fund-raising drives. This year, $4.1 million of tax credit was allocated to enable selected non-profit organizations like the Cosmosphere to offer Kansas tax credits.
According to Chris Harris, whose office oversees the administration of the CSP, “The Cosmosphere project was recognized as important to Kansas and it was apparent that the new Cosmosphere leadership team of Dick Hollowell, Jim Remar and Dianne Blick have a solid plan to implement the organizations stated goals. They have commitment toward necessary improvements. This is the kind of project that should fall under the Kansas CSP.”
Tax credit awards are distributed through a competitive application process. Based on the scope and cost of the proposed project, applicants may request up to $250,000 in tax credits. Applicant organizations in rural areas (less than 15,000 population) are eligible for a 70 percent credit. Applicant organizations in non-rural areas are eligible for a 50 percent credit. The program is administered by the Kansas Department of Commerce Business and Community Development Division.
The Cosmosphere’s application requested credits to support four specific areas of the Cosmospheres $1.6 million “Lift-Off” Campaign: refurbishment of and conversion of the Carey IMAX Theater to digital film technology, new seating and carpeting; repainting of the roof awning; restoration of the outdoor Redstone and Titan rocket exhibits, and; a new point of sale system.
“Within 10 days, after inviting donors to purchase naming rights on chairs at $250 per chair, we funded nearly every new chair in the theater, said Blick, director of development. $250 is the minimum required donation to qualify for the tax credits and conveniently, about the actual cost of each new chair.
Under the direction of Jim Remar, Cosmosphere President & COO, The Carey IMAX Dome Theater closed September 6 for major renovation and will reopen as the Carey Digital Dome Theater on October 6. This planned renovation, which qualifies for Kansas CSP credits, will enable the Cosmosphere to save nearly $100,000 per year in operating costs.
Says Dick Hollowell, Cosmosphere CEO, “When we began to look at the cost of film, the fact the 15/70 IMAX format may no longer be produced and other related factors we began to consider alternatives. We found that we could not only significantly reduce operating costs but at the same time, open the door for an exciting new capacity via the Carey Theater. The community can expect announcements soon about the grand reopening of the theater in October.”
According to Blick, major donations for the theater are still needed and qualify for the 50 percent Kansas Community Service Program tax credits.
The August 24-26 Operation Blackbird Spytacular, including programming and events with 17 former SR-71 Blackbird crew members, proved to be a successful fundraiser with major donations qualifying for tax credits.
“We were notified Friday, August 24 by the Department of Commerce at 3:07 p.m., just hours before the opening welcome reception, that our application for the credits had been accepted. It is truly exciting to know that through projects needed at the Cosmosphere, we can put $100,000 back into the hands of Kansas donors. That cash flow, in turn, helps improve our own local economy,” said Blick.
“Community restaurants, caterers and beverage providers, radio stations and other local companies were invited to participate in the Cosmospheres first-ever “Fly Around Dine Around”, a taste-of-Hutch event. We threw open the doors to the community for only $15 per person to enjoy delicious samples provided by the venues and to extend warm hospitality and a grand welcome to the SR-17 crew members.”
The Cosmosphere, Hutchinson and all participants – some who came from every corner of Kansas, surrounding states and even as far away as Australia solidly succeeded.
Says Hollowell, “Our entire staff and dozens of volunteers worked hard to pull off this event and we are thrilled to be able to say thank you to every individual, company and organization that helped achieve our goal to paint the roof. We have raised the necessary $28,000 and the community can expect to see a big difference very soon!”