Coastal Maine Botanical Gardens Inc.

“Coastal Maine Botanical Gardens hosts many art and sculpture exhibits throughout its operating seasons. The Organization utilizes artwork, sculpture, and craft to build connections between the community and Garden visitors over ideas of nature and creativity, and to foster relationships between its members, staff, and visitors. Much of the Organization's artwork is available to enjoy as public exhibitions that are displayed throughout and included within the Gardens' facilities and campus. Additionally, the Organization encourages and sponsors patrons of the creative arts through artistic symposiums and programmatic events which meld together the Organization's own mission to preserve, feature, and advocate for the natural environment while also advancing other creative pursuits and the humanities. Sculptures and artwork are recognized on the Organization's balance sheet within Other Assets, and donations of Artwork are reported as non-cash contributions when received and when recognized as income in the Organization's financial statements.”

“The purpose of the Organization's endowment funds is to provide investment income and gains to further various activities of the Organization. A portion of endowment funds are deemed to be held in perpetuity with income restricted. Income from the endowment is subject to distribution formulas approved by the Organization's Board to ensure that such endowment capital balances are managed responsibly and sustainably. Additionally. the endowment accounts are composed of investments spread across U.S. and global asset classes and are managed to produce long-term growth while minimizing volatility. Endowment funds set aside as "board designated or "quasi-endowments" are normally intended for general expenditures as part of the Organization's annual operations. Endowment funds set aside as restricted are subject to donor-imposed limitations on time and use. The majority of the Organization's restricted funds are reserved for the following purposes: facility improvements and expansions; research; art and garden exhibits; and conservation.”

“The Organization is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items, including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. Management has evaluated the Organization's tax positions taken on its filed tax returns and concluded that the Organization has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements.”

“Rental expenses 33,168. Revenue netted with expenses 30,776. Various tax refund deposits 2,006.”

“Rental expenses 33,168. Revenue netted with expenses 30,776.”