Delaware County Historical Association

“DCHA maintains various collections that consist of items of historical significance, including buildings and other items. In accordance with FASB ASC 958-360-25, DCHA has elected not to capitalize collection items.”

“DCHAs purpose is to collect, interpret, display and disseminate artifacts and information related to the history of Delaware County, New York. This history includes the prehistory to present-day. The cataloging and record keeping policy is as follows:Standard professional practices are followed in the cataloging of collections. The Director, in consultation with the Collections Manager or other staff is responsible for accepting or rejecting accession. A quarterly report presenting all acceptances/rejections with rationales, will be presented to the Collections Committee.Collection items may be acquired as gifts or they may be purchased provided such funds are available. Before any item is accepted for accession into the collections, every effort must be made to determine that it is being acquired in full compliance with all relevant laws and regulations. All gifts must be unconditional and the DHCA must obtain full title, clear and free, without restrictions, limitation or encumbrances. Exceptions must be approved in writing by the Board of Directors.Long term loans are generally not accepted. Exceptions can be made only by the Board of Directors.Records of accession must be maintained for all objects acquired for the collections, including a legal instrument of conveyance signed by both the donor and an authorized director of DCHA. Objects accepted for consideration must be accessioned with in 60 days of its acceptance by the staff, or if not accepted, returned to the owner within 60 days of the decision not to accept the object.”

“Income from the endowment to be used in operations.”

“Cost of goods sold $2416 revenue report on trust 16-6505580 $33167 increase in perpetual trusts $5505 netted investment fees $0”

“Distributions from trust $24597 netted investment fees $6709”

“AMOUNT OF COGS NETTED $2416 amounts reported by endowment 16-6505580 $100”

“Netted investment fees $6709”