Marian and Edward Macdowell Inc

“The organization maintains a collection of works of art comprised of items most commonly donated by fellows and donors and infrequently, items acquired directly by the organization. The collection is made available to fellows to support their current projects during residency and through those projects, the general public. The organization does not capitalize its collection and does not recognize revenue upon receipt. In the rare event that items are sold, proceeds are used to support the direct care of the collection or to acquire new works. The primary objective of the organization's collection policy is for the furtherance of artistic pursuit rather than financial gain. The collection is housed substantially within the baldwin library and maintained by its infrastructure and staff. There were no acquisitions or deaccessions during the years ended december 31, 2024 and 2023.”

“Macdowell's works of art are utilized for its cultural and educational purposes and are on display in macdowell's library.”

“The organization's endowment consists of various individual funds, both donor-restricted and board designated, established to support a variety of purposes, including: fellowships, artist stipends, fellows' travel, baldwin library operations, and studio and building maintenance. The endowment also includes unrestricted funds which support macdowell's general operations.”

“The organization has been recognized by the internal revenue service ("irs") as exempt from federal income taxes under internal revenue code ("irc") section 501(a) as an organization described in irc section 501(c)(3), qualifies for charitable contribution deductions, and has been determined not to be a private foundation. The organization is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, the organization is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purpose. The organization accounts for uncertain tax provisions under financial accounting standards board ("fasb") accounting standards codification ("asc") 740, income taxes, which provides a framework for how entities should recognize, measure, present, and disclose uncertain tax positions in their financial statements. The organization may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Management has reviewed the organization's reporting and believes they have not taken tax positions that are more likely than not to be determined to be incorrect by the irs and, therefore, no adjustments or disclosures are required. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods pending or in progress.”

“Fundraising expenses 63,612.”

“Fundraising expenses 63,612.”