De Cordova and Dana Museum and Park

“Decordova collects modern and contemporary art. This art includes many media: painting, photography, sculpture, video and more. A majority of the collection is by artists who have a new england connection. Every year there are several exhibitions of work from the collection, pieces are loaned to other museums, and work is available for study.”

“1. Education initiative fund: represents approximately $241,000 designated for the education initiative fund. The income earned on these funds can be used to support new initiatives sponsored by the education department as appropriate. 2. Art acquisition fund (walkey fund): represents approximately $634,000. The principal of the donation will remain intact as a permanent endowment and only income will be used for the purchase of art works for the decordova museum's permanent collection. The income generated from this gift is recorded as temporarily restricted to be used for the purchase of art works for the decordova permanent collection. 3. Beneficial interet in perpetual trust: represents approximately $8,985,000. Decordova is the beneficiary of this trust and receives 5 percent per year, of the rolling average fair market value of the trust assets, measured based on the twelve most recently completed quarters. This income received is for the upkeep, maintenance and improvement of the museum and park, for the use, improvement and additions to the art collection, and for educational and recreational purposes. Since decordova is the sole beneficiary of the trust, this beneficial interest in perpetual trust is presented at the fair market value of the investments in the trust. 4. Education scholarship fund: represents approximately $34,000 of endowment. Fund was created to provide scholarships to the museum school education programs, using the income generated from the original gifts. 5. Sculpture park endowment fund: represents approximately $3,423,000 given to provide long-term support for the enhancement and improvement of the existing sculpture park through programming, purchases and loans of sculpture, and other activities benefiting the sculpture park as determined by the museum's director. Additionally, these activities may include conservation, maintenance, visitor experience and amenity improvements, marketing of the park and museum programs, and educational programs. 6. Rappaport prize: represents approximately $1,443,000. Each prize is given to foster two goals: celebrate the achievement and potential of an artist who has already demonstrated significant creativity and vision; and encourage the artist to continue a career of innovative art making.”

“Decordova and dana museum & park accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. Decordova and dana museum & park has identified its tax status as a tax-exempt entity and its determination as to its income being related or unrelated as its only significant tax positions and has determined that such tax positions do not result in an uncertainty requiring recognition. Decordova and dana museum & park is not currently under examination by any taxing jurisdiction. Federal and state income tax returns are generally open for examination for three years following the date filed.”

“Cost of goods sold -228,289. Fundraising expenses -92,821.”

“Cost of goods sold -228,289. Fundraising expenses -92,821.”