Martha'S Vineyard Museum Inc

“As allowed by accounting principles generally accepted in the united states of america and following the practices of many museums, the museum has not capitalized its collection of items of historical nature and other related objects purchased or donated. The collection is held for public exhibition, education, or research in furtherance of public service rather than financial gain. The museum 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. Proceeds from de-accessions are reflected as increases in unrestricted net assets. The museum has established a policy that requires the proceeds from items de-accessed to be used to acquire other items for the collection.”

“Martha's vineyard museum consists of the renovated marine hospital/st. Pierre camp property in tisbury. The museum has permanent and changing exhibits that explore the history, culture, art, natural history and landscape of martha's vineyard island. The museum offers a large range of adult and children's educational programs, exhibits, and events to members and the general public. In addition to the main campus in tisbury, the martha's vineyard museum also has the cooke house property in edgartown and stewardship of the edgartown and east chop lighthouses.”

“The purpose of the endowment is to provide a steady but growing stream of income to the museum over future years. The endowment will provide the means for the museum to accept lasting gifts from individuals and other entities that will both honor and perpetuate the mission of the museum and the museum's programs in carrying out that mission. The museum's endowment consists of individual donor restricted funds established for a variety of purposes. Its endowment includes both donor restricted endowment funds and funds designated by the museum 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. As required by generally accepted accounting principles, the museum 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 net assets until those amounts are appropriated for expenditure by the museum 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 museum 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 museum 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 museum; and the investment policies of the museum. The museum 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 endowment assets are invested in a portfolio of debt and equity securities with the objective of achieving long-term capital appreciation while moderating the level of investment risk. Actual returns in any given year may vary from this amount. To satisfy its long-term rate-of-return objectives, the museum relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest, dividends and net rental income). The museum 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 museum has a policy that the board, after consultation with the finance committee, may appropriate for distribution each year not more than 5% of the applicable market value of the endowment.”

“Cost of goods sold 66,294.”

“Campaign expenses 68,809.”

“Cost of goods sold 66,294.”

“Campaign expenses 68,809.”