Old Sturbridge Inc DBA Old Sturbridge Village

“Osv does not capitalize its collections. Museum collections include antique buildings, artwork and objects 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. Periodically, osv determines that some collections are not appropriate to the museum's purpose and will sell or de-access certain pieces. The de-accession proceeds are to be utilized as determined by the board of trustees for future collection acquisitions unless the original donor has specified a restriction on the de-accession proceeds.”

“The collections of old sturbridge village include the cultural artifacts, research library, visual resource library (photographic), archives, archaeological, historic structures, and living (both livestock and plant) collections. Each of these collections is vital to the museum's mission and supports its commitment to preserving, researching and interpreting the history and life of rural new england.”

“The organization's endownment consists of numerous funds established for a variety of purposes. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the board to function as endowments, are classified and reported based on the existence or absence of donor-imposed or legal restrictions. The organization classifies as permanently restricted net assets (a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted net assets is classified as temporarily restricted net assets until those amounts are appropriated for expenditure by the organization in a manner consistent with the standard of prudence prescribed by state law. In accordance with the uniform prudent management of institutional funds act, the organization may consider the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: -the duration and preservation of the fund -the purposes of the organization and the donor-restricted endowment fund -general economic conditions -the possible effect of inflation and deflation -the expected total return from income and the appreciation of investments -other resources of the organization -the investment policies of the organization the organization has adopted investment and spending policies for its board-designated endowment assets that attempt to provide a predictable stream of funding for its programs while seeking to maintain the purchasing power of the endowment assets. Under this policy, as approved by the board of trustees, the endowment assets are invested in a manner that is intended to produce an average annual real total return, net of investment management fees, of greater than 5% over a rolling three year period. To satisfy its long-term rate-of-return objectives, the organization relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest, dividends, etc.). The organization has a diversified asset allocation that places a greater emphasis on equity-based investments to achieve its long-term return objectives within prudent risk constraints. The organization has a policy of appropriating for distribution each year 5% of its endowment fund's average fair value over the prior twelve quarters through the year-end proceeding the year in which the distribution is planned. In establishing this policy, the organization considered the long-term expected return on its endowment. From time to time, the fair value of assets associated with individual donor-restricted endowment funds may fall below the level that the donor imposed restrictions require the organization to retain as a fund of perpetual duration. In accordance with generally accepted accounting principles, deficiencies amounted to $ 8,115 as of january 31, 2017. In accordance with the board's interpretation of relevant state law, appropriation of investment return on these funds has been suspended until such time as the deficiency has been restored and the fair value of the fund exceeds the level required to be retained permanently.”

“Osv accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. Osv has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the financial statements at january 31, 2017. Osv's information and tax returns are subject to examination by the federal and state jurisdictions.”

“Change in value of split interest agreements 68,287.”

“Direct special events expense -80,591.”

“Direct special events expense -80,591.”