Society for the Preservation of New England Antiquities Inc.

“In 2024/2025, no preservation easements were modified, sold, transferred, released or terminated.”

“Revenue and expenses for the easements are not referenced in the footnotes of the financial statements rather they are booked in a segregated budget center known as preservation easement program, this includes easement revenue, payroll, benefits, administration, etc. Donations are deposited into the organization's endowments and investments and drawn in compliance with its annual drawdown policies. The organization does not account for easement properties on its balance sheet.”

“As allowed by accounting principles generally accepted in the united states of america and following the practices of many libraries and museums, the organization has not capitalized its collection of items of historical nature and other related objects purchased or donated. The collection is held for public education or research in furtherance of public service rather than financial gain. The organization continually reviews its collection and may de-access or acquire additional items. Expenditures for additional collection items are presented as a reduction in the appropriate class of net assets.”

“Historic new england, founded as the society for the preservation of new england antiquities in 1910, is the oldest, largest and most comprehensive independent preservation organization in the united states, and welcomes the public to thirty-eight exceptional museums and landscapes, including several coastal farms. The organization operates a major collections and archives center in haverhill, massachusetts, and has the world's largest collection of new england artifacts, comprising more than 123,000 objects, and 1.5 million documents and photographs, architectural drawings, manuscripts, and ephemera. Engaging education programs for youth, adults, and preservation professionals, and award-winning exhibitions and publications are offered in person and virtually. The historic new england preservation easement program is a national leader and protects 127 privately owned historic properties throughout the region.”

“As required by generally accepted accounting principles, the organization classifies as donor 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 endowment fund that is not classified as non-expendable net assets is classified as expendable 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 can 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; and the investment policies of the organization. The organization has adopted investment and spending policies for its board-designated and other 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, the organization's investment committee shall seek to invest the endowment funds in such a manner that the investments will provide a spendable return consistent with a long-term goal of preserving the funds in real terms. Actual returns in any given year may vary from this amount. 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 and dividends). The organization has invested in debt and equity securities that target 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% (the board may approve more or less from time to time) of the twenty-quarter average fair market value of the endowment calculated as of december 31 preceding the year in which the distribution is planned. In establishing this policy, the organization considered the long-term expected return on its endowment. This is consistent with the organization's objective to maintain the purchasing power of 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. Funds with original gift values of $3,552,193, fair values of $3,511,759, and deficiencies of $40,434 were reported in net assets with donor restrictions as of march 31, 2025.”

“Cost of goods sold 701,025. Rental expense 1,239,758. Unrealized loss on beneficial interest in perpetual trust -33,082. Spnea ct 163,744. Special event expenses 210,315.”

“Cost of goods sold 701,025. Rental expense 1,239,758. Fundraising expenses 210,315. Spnea ct 163,744.”