MID-Atlantic Center for the Arts

“The organization currently holds one certified historic structure conservation easement (cape may lighthouse) on a half of acre of land. The easement was granted to the organization in order for the structure to be preserved for the benefit of the public. Since the easement cannnot be transferred or sold, it provides no value to the organization. Therefore, the value of the conservation easement is not recorded in the financial statements. Revenue collected from public visitations, sale of products, solicitations, grants or other sources pertaining to the operations of the historic conservation easement are used solely for the purpose of restoring, developing, improving, maintaining, and operations of the historic site. Various operational expenses are categorized as tours program expenses on the scheudle of functional expenditures in the audited financial statements.”

“Historic artifacts maintained for future generations.”

“The mid-atlantic center for the arts has a collection of furniture and other artifacts that have been donated to the orgnaization and purchased by the organization to restore the emlen physick estate and the carriage house to their victorian era existence. This collection is on display and visible by those who tour the estate. The organization employs a registrar to ensure that the collection is protected and preserved. All proceeds from sales of collection items must be used to acquire other items for the collection.”

“Board-designated:in 1996, the organization established a board-designated endowment, known as the cape may legacy fund, to help finance special projects and lend financial stability to the operations of the organization. In 2016, this fund was rebranded as the "2020 society". In 2021 it was renamed the "cape may mac preservation fund".donor-restricted - music festival endowment fund:in 2002, the organization received $75,000 of donor-restricted investments that was used to establish the music festival endowment fund. This investment is to be held in perpetuity, the income from which is expendable at the discretion of the board's investment team, to support the annual music festival.donor-restricted- michael zuckerman endowment fund for collectionsin 2013, the organization established the michael zuckerman endowment fund for collections. This endowment fund will provide funding for the acquisition of additions to the various collections at the physick estate, cape may lighthouse and world war ii fire control tower and for the proper protection and maintenance of all hsitoric materials that are under the care of the organization. This investment is to be held in perpetuity, the income from which is expendable at the discretion of the organization's curator and the restorations and collections committee, who will determine priorities for its use. In 2014, the organization established the lessons of history endowment fund. The endowment fund will provide funding for various lessons of history lecture series. Both the principal and earning from this fund are expendable at the discretion of the board of trustees, but as directed by the lessons of history team.”

“Cogs $118813 fundraising expense $60431”

“Cogs $118813 fundraising expense $60431”