Attleboro Museum Inc.

“The organization's collections, acquired through purchase and donation, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets with donor restrictions or without donor restrictions, depending on the source of the assets used to purchase the items and whether those assets were restricted by donors. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance proceeds are reflected as increases in the appropriate net asset classes.”

“The attleboro arts museum (aam) owns exhibits and uses collections that are appropriate to its mission. Its principal focus is as an exhibition and educational museum with a small permanent collection. Items from the permanent collection are annually exhibited. The aam assumes responsibility for effectively managing, documenting and caring for its permanent collection in a stable and secure environment. The aam possesses more than 800 objects that have been accumulated over its history. The majority of these works were donations and bequests to the museum from the wealthy families of the industrialists who built attleboro into the so-called "jewelry capital of the world." the museum seeks to distinguish its collection by acquiring only exceptional works of art that have content connected to attleboro, massachusetts, the attleboro arts museum and the greater community; are created by an artist connected to attleboro, massachusetts and the greater community; are of a physical and curatorial standard appropriate for exhibition; will enable the museum to fulfill its interpretive philosophy and mission and enhance the overall quality of a collection; are works of distinction because of provenance, artist's stature or significance.”

“Restricted endowment funds are to be used for providing scholarships to eligible individuals enrolling in the museum's art classes.”