Maine Maritime Museum

“Collection items purchased and donated are not included in the statement of financial position. The costs of collection items are recorded as decreases in net assets in the statement of activities when purchased. The proceeds from the sale of collection items are recorded as increases in net assets in the statement of activities when sold. The Museum's extensive collection includes artifacts relating to the maritime history of Maine and its associated shoreline infrastructure. The collection includes many early 19th-century paintings and other artwork, rigged models and half-models, tools used in maritime industries, important collections of navigating equipment, scrimshaw, furniture, textiles, fishing gear, ships' parts, and a historic watercraft collection. The Museum also preserves and interprets several historic buildings and structures, including five buildings from the Percy & Small Shipyard (1897-1920), and the historic Donnell House, which once belonged to a shipyard owner. The library and archives house thousands of books, maritime manuscripts, business records, photographs, maps and charts, ships construction plans, and video and film archives. The Museum's Code of Ethics statement is in accordance with the American Association of Museums guidelines and other museum industry best practices. It also has a collection policy. These policies delineate responsibilities in such matters as Museum ethics, acquisitions, loans, care of collections, and deaccessioning. Objects held in the collection are carefully tracked and monitored. Proceeds from the sale of an object deaccessioned may only be applied toward further collection acquisitions.”

“The Museums extensive collection includes artifacts relating to the maritime history of Maine and its associated shoreline infrastructure. The collection includes many early 19th-century paintings and other artwork, rigged models and half models, tools used in maritime industries, important collections of navigating equipment, scrimshaw, furniture, textiles, fishing gear, and ships parts, and a strong historic watercraft collection. The Museum also preserves and interprets several historic buildings and structures, including five buildings from the Percy & Small Shipyard (1897-1920), and the historic Donnell House, which once belonged to a shipyard owner. The library and archives house thousands of books, maritime manuscripts, business records, photographs, maps and charts, ships construction plans, and video and film archives. These exhibits aid in promoting an understanding of Maine maritime history among the general public.”

“The intended uses of the Organization's endowment funds are for collection preservation, building maintenance, and educational purposes.”

“The Museum is a not-for-profit corporation as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and, as such, is exempt from federal income taxes. In addition, the Museum has been determined by the Internal Revenue Service not to be a "private foundation" within the meaning of Section 509(a) of the Code. The Museum is currently open to audit under the statute of limitations by the Internal Revenue Service and state taxing authorities for three years following the filing of the return.”

“Cost of Goods Sold 128,998. Change in Value of Split Interest Agreements 34,919.”

“Cost of Goods Sold 128,998.”