El Rancho De Las Golondrinas Inc

“The organization's collections, which were acquired through contributions since the organization's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets, without donor restrictions in the year in which the items are acquired, or as decreases in net assets with donor restrictions if the assets used to purchase the items were restricted by the donors. Contributed collection items are not reflected in the financial statements. Any proceeds from deaccessioning or insurance recoveries are reflected as increases in the appropriate net asset classes. The organization's collections are made up of artifacts of historic significance and art objects that are held for educational, research and curatorial purposes. Each of the items is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously. Collection items are subject to a policy that requires proceeds from their sales to be used to acquire other items for collections or to preserve and care for other items in the collections. The organization is the sole owner and member of cp-am, llc. The financial assets of the llc include real estate located at 614 acequia madre, and collection items which are not capitalized pursuant to our collections management policy and guidelines established by the american alliance of museums and the american association for state and local history.”

“The organization has received tax-exempt status under code section 501(c) (3) of the internal revenue code. The organization has adopted accounting principles generally accepted in the united states of america, as they relate to uncertain tax positions for all open tax years. The organization is not currently under audit nor has the organization been contacted by any taxing jurisdiction. Income from certain activities not directly related to the organization's tax-exempt purpose are subject to taxation as unrelated business income. Management believes that all positions taken would be upheld under an examination and that there are no uncertain tax positions.”

“Part iii line 4: el rancho de las golondrinas, inc. Is a living history museum. The organization's assets include original historic colonial buildings that date from eary 1700's, retablos, artifacts, new mexican, pueblo and mexican textiles, and historic furnishings, these collections help the organization to preserve the history, heritage and culture of 18th and 19th century new mexico and are on display to the public.”