American Congregational Association

“The library collections, which were acquired through purchases and contributions since the association's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets without donor restrictions in the year in which the items are acquired. If the assets used to purchase the items are restricted by donors, a reclassification to net assets without donor restrictions is made to reflect the release of the restriction when the purchase is made. Contributed collection items are not reflected on the accompanying financial statements. Proceeds from sales or insurance recoveries are reflected as increases in the appropriate net asset classes. The association's collections are comprised of rare books and artifacts of historical significance that are held for educational, research, and curatorial purposes. Each of the items is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously. The collections are subject to a policy that requires proceeds from their sales to be used to acquire other items for collections.”

“The organization's library holds some 225,000 items, both archival and published, covering congregational christian history and a broad array of related topics. Its rare book section includes an unusually rich and complete representation of english and first-generation puritan works. The archive of colonial-era church records is also extensive, containing many sets of seventeenth-century documents as well as full collections from large and historically significant modern churches like boston's old south, established in 1669, and park street church, formed in 1809. Many are available in digital form as part of the hidden histories collections, and accessible on its website. The library also contains a large sermon collection, some 15,000 individual pieces, covering the period from the late 1600s to the twentieth century, in both manuscript and printed form.”

“The endowment is used to support the organization's operations.”

“The association accounts for uncertain tax positions in accordance with fasb asc topic income taxes. This topic prescribes a recognition threshold and measurement process for financial statement recognition of uncertain tax positions taken or expected to be taken in a tax return. This topic also provides guidance on recognition, derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Management believes that the association has no material uncertain tax positions as of march 31, 2024 and 2023.”