Society for the Preservation of New England Antiquities Inc.

“No easement was modified, transferred, released, extinguished or terminated during the current fiscal year.”

“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. Proceeds 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 is a museum of cultural history which collects and preserves buildings, landscapes, and objects dating from the seventeenth century to the present and uses them to keep history alive and to help people develop a deeper understanding and enjoyment of new england life and appreciation for its preservation. Historic new england's collections comprise the largest assemblage of new england art and artifacts in the country, an extraordinary broad collection of more than 123,000 objects and 1.5 million documents and photographs that document new england's architectural and cultural history.”

“The organization's endowment consists of endowment funds established for a variety of purposes. Its endowment includes both donor restricted endowment funds and funds designated by the board to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed or legal restrictions. Endowment funds include invested gifts. As required by generally accepted accounting principles, the organization classifies as permanently restricted net assets (a) the orginal 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 in permanently restricted net assets is classified as tempororarily 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 fund; 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. In accordance with generally accepted accounting principles, deficiencies of this nature are reported in unrestricted net assets. Such deficiencies amounted to $23,042 as of march 31, 2017.”

“Management annually reviews for uncertain tax positions along with any related interest and penalties, and believes that the organization has no uncertain tax positions that would have a material adverse effect, individually or in the aggregate upon the organization's statement of financial position, or the related statements of activities, or cash flows.”

“Cost of goods sold 400,980. Rental expense 503,381. Unrealized gain on beneficial interest in perpetual trust 247,908. Fundraising expenses-gala 36,095. Spnea ct 32,907.”

“Cost of goods sold 400,980. Rental expense 503,381. Fundraising expenses 36,095. Spnea ct 133,432.”