Norman Rockwell Museum at Stockbridge Inc.

“Collections at the museum include work of norman rockwell and other illustrators. These collections are protected and preserved for public exhibition, education and the furtherance of public service. Collections are not recognized or capitalized for financial statement purposes. Purchases of such collections are recorded as a decrease to either with or without donor restricted funds depending upon the source of funds. The museum owns certain special limited edition prints which were donated by norman rockwell to be sold for the benefit of the museum. These prints are reflected in the accompanying financial statements at a nominal value of $1. It was not practicable to calculate the fair value of these items when contributed. Proceeds from the sales thereof are reflected as income as sold and allocated to operations as determined annually.”

“The museum employs a spending policy which, absent any explicit donor designations to the contrary, allows for spending 4.75% of a three year moving average market value of the investment portfolio. The spending policy complies with the massachusetts version of the uniform prudent management of institutional funds acts (upmifa) enacted into law, with an effective date of june 30, 2010.”

“In september 1969, the museum was granted an exempt status under internal revenue code ("irc") section 501(a) as an organization described under internal revenue code section 501(c)(3). Under irc 501(a) the museum is generally exempt from income taxes on related income. Only unrelated business income, as defined in the irc, is subject to income taxes. In 2025 and 2024, the museum had no significant unrelated business taxable income. Tax positions taken or expected to be taken, including the position that the museum qualifies as a tax-exempt entity, are required to be evaluated to determine whether the tax positions are "more-likely-than-not" to be upheld under regulatory review. Tax positions not deemed to meet the more-likely-than-not threshold would be accrued and disclosed in the financial statements. There are no uncertain tax positions that require accrual or disclosure at june 30, 2025 or 2024. The museum records interest and penalties as part of income tax expense. No interest or penalties were recorded for the years ended june 30, 2025 or 2024. The museum's income tax returns are subject to review and examination by federal taxing authorities. The museum is currently open to audit under the applicable statutes of limitations by the internal revenue service for the years ended june 30, 2021 through 2025.”

“Investment fees reclassed from revenue to expenses -53,619.”

“Fundraising expenses -37,255.”

“Fundraising expense 37,255.”

“Investment fees reclassed from revenue to expenses 53,619.”