Millicent Rogers Museum Inc.

“The endowment funds are intended to be used to provide for a current income stream based on current interest and dividends and also provide a source for growth and income for long term future sustainability of the organization.”

“Special events fundraising direct expenses per audit -12,447. Other -2,533.”

“Cost of goods sold from gross sales of inventory -156,541.”

“Cost of goods sold from gross sales of inventory 156,541.”

“Special events fundraising direct expenses per audit 12,447. Investment expenses 10,636. Other -7,110.”

“The museum maintains the museum collections for exhibition and research purposes, to further its mission and as a public service and not for financial gain. Therefore, the museum does not capitalize such items. Proceeds from the disposition of collection items, if any, are designated for collection acquisition and care. Acquisitions to the collections are recorded at cost of purchase on the statement of actvities and changes in net assets. The museum does not recognize contributions of donated items that are added to its collection in its financial statements. The museum has an employee that is responsible for the overall stewardship of the collection, along with the board of trustees. The executive director and the curator oversee the day-to-day management of the collections to ascertain that the collections are adequately documented, protected, and conserved with the resources available. The stewardship policies that the museum has in place include: accessions and deaccessions collection care and management outgoing loans incoming loans access to collections”

“The museum exhibits and preserves its collection of historic hispanic, native american and anglo objects for the benefit of the public and community. In addition, museum collections are regularly used by scholars and students k-16 for research and publication purposes. General musuem educational programs, supported by the collection, are targeted to the general public and consist of lectures, demonstrations, family events, and through publications.”

“The board of trustee has adopted investment and spending policies for the endowment assets. The goal is to maintain the real value of the endowment investments in perpetuity, while allowing for appropriate expenditures.”

“The museum is exempt from income tax under section 501(c)(3) of internal revenue code and as such, is not subject to income taxes on its normal activities. The internal revenue service has determined that the musuem is not a private foundation. The museum's policy is to classify income tax penalties and interest according to their natural classification in its financial statements. During the current year, the museum incurred no interest and penalties. Management does not believe the musuem has any uncertain tax positions that would require financial statement recognition, measurement, or disclsoure under fasb asc 740.”