Nantucket Historical Association

“Historic preservation of quaker meeting house, greater light, 1800 house, macy wharehouse, old goal and fire hose cart - it is the purpose of these restrictions to assure that the exterior, architectural, historic, and cultural features of the buildings will be retained and maintained forever, substantially in their current condition for conservation and preservation purposes and, to prevent any changes to the exterior of the buildings that will significantly impair or interfere with the buildings' preservation. Restrictions, the term "exterior" refers to all above vertical, horizontal and sloping surfaces comprising the external envelope of the building including the walls, roofs, roof penetrations, windows, doors, and miscellaneous architectural details and color schemes. There is no financial statement reporting for these easements.”

“As allowed by accounting principles generally accepted in the united states of america and following the practices of many museums, the association 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 association continually reviews its collection and may deaccess or acquire additional items. Expenditures for additional collection items are presented as a reduction in the appropriate class of net assets. Proceeds from deaccessions are reflected as increases in unrestricted net assets.”

“Nantucket historical has an extensive collection of nantucket artifacts about the island and it's history. There is a permanent collection as well as traveling exhibitions that change annually.”

“The association'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 association 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 association 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 association 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 association 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 association 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 association; and the investment policies of the association. The association 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. While acknowledging the importance of preserving capital, the board of trustees also recognizes the necessity of accepting risk if the fund is to be able to meet its long-term investment goals. It is the view of the board of trustees that choices made with respect to asset allocation, liquidity and risk will be the major determinants of investment performance. The board of trustees shall seek to ensure that the risks taken are appropriate and commensurate with the fund's goals. The association has a policy of appropriating for distribution each year 4.25% of the three-year average fair market value of the endowment calculated as of october 31 for the three years preceding the year in which the distribution is planned. In establishing this policy, the association considered the long-term expected return on its endowment. This is consistent with the association'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 association to retain as a fund of perpetual duration. There were no such deficiencies as of december 31, 2024 and 2023.”

“Museum shop expenses 517,245. Special events expenses 1,147,170.”

“Museum shop expenses 517,245. Special events expenses 1,147,170.”

“Capital campaign expenses”