National Liberty Museum

“Part iii, line 4: the art exhibited is an important tool for the educational mission of the museum.”

“Part v, line 4: to support activities for perpetuity.”

“Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would be sustained upon examination bt the taxing authorities. Management has analyzed the tax positions taken by the organization, and has concluded that as of december 31, 2013, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements.”

“COST OF GIFT SHOP SALES”

“Change in charitable annuities”

“Cost of gift shop sales rounding”

“Part xi, line 8:- other adjustments: change in charitable gift annuities:(26,768) part xii, line 2d: - other adjustments: cost of gift shop expenses: 161,439 part xiii,- line 2d: - other adjustments: change in charitable gift annuities: 26,768 line 4b: - other adjustments: cost of gift shop expenses: (161,439) form 990, schedule d, part x, line 2: income taxes: the organization is generally exempt from federal income taxes under the provisions of section 501 (c) (3) of the internal revenue code. In addition, the organization qualifies for charitable contribution deduction and has been classified as an organization that is not a private foundation. Income which is not related to exempt purposes, less applicable deductions is subject to federal and state income taxes. The organization had no net unrelated business income for the year ended december 31, 2014. Recent accounting pronouncements: accounting for uncertainty in income taxes became effective on january 1, 2009. This new guidance clarifies the application of accounting for income taxes by defining the criteria that an individual tax position must meet in order for the position to be recognized within the financial statements and provides guidance on measurement, de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition for tax positions. Management evaluated the organization's tax positions that require adjustment to the financial statements to comply wuth the provisions of the guidance. The organization files income tax returns in the u.s. Federal jurisdiction. With few exceptions, the organization is no longer subject to income tax examination by the u.s. Federal, state or local tax authorities for years before 2010. Fasb accounting standards codification: in june, 2009, the financial accounting standard board (the "fasb") issued the fasb accounting standards codification (the "asc") which was effective for the organization's december 31, 2009 financial statements. The codification became the single authoritative source for gaap. Accordingly, previous references to gaap standards are no longer used in the disclosures, including these notes to the financial statements”