Mitchell Museum of the American Indian

“Museum collections the museum's collections are made up of objects of historical and cultural significance that are held for educational, research, and curatorial purposes. Each of the items is cataloged, preserved and cared for, and activities verifying its existence and assessing its condition are performed continuously. In accordance with the practice generally followed by museums, the value of objects in the collections is excluded from the financial statements. Such collections have been acquired through contributions since the museum's inception.”

“Museum collections the museum's collections are made up of objects of historical and cultural significance that are held for educational, research, and curatorial purposes. Each of the items is cataloged, preserved and cared for, and activities verifying its existence and assessing its condition are performed continuously. In accordance with the practice generally followed by museums, the value of objects in the collections is excluded from the financial statements. Such collections have been acquired through contributions since the museum's inception. Central to the museum's mission is to collect and preserve traditional and contemporary native american art and material culture to tell the stories of american indian peoples for this and future generations. Since 1977, the collection has grown from 3,000 to over 10,000 objects and over 3,000 books, representing some of the country's best american indian textiles, basketry, beadwork, visual arts, jewelry, and sculpture. The museum prides itself on the diversity of its collection covering tribes and bands from throughout the united states and canada.”

“The museum's activities are generally exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code; however, unrelated business activities would be subject to income tax. Since the museum is exempt from federal and state income tax liability, no provision is made for current or deferred income tax expense. The museum follows the guidance of accounting standards codification (asc) 740, accounting for income taxes, related to uncertainties in income taxes, which prescribes a threshold of more likely than not for recognition and derecognition of tax positions taken or expected to be taken in a tax return. There are no such uncertain tax positions for the museum for the year ended december 31, 2024. The museum's federal and state information returns are subject to examination, generally for three years after the filing date.”