The Susan B Anthony House

“In conformity with accounting principles generally accepted in the united states of america and the practice followed by many museums, the museum has elected not to include objects purchased or donated to the permanent collection in the balance sheet. It is impractical to determine a value for the permanent collection, as many items are irreplaceable. Other museums often request to borrow particular items from the permanent collection, and the museum is pleased to share its collection with the public in this way, provided arrangements are made to assure appropriate care, security, and conservation during the course of the loan. A marble bust of susan b. Anthony is on permanent loan to the monroe county hall of justice, and a copy of the trial of susan b anthony is currently on loan to the u.s. Marshals museum, fort smith, arkansas. In anticipation of the increased space and improved storage facilities that will be part of the campus expansion, the anthony museum is now accepting appropriate donations of objects, artifacts, print materials, and ephemera that are within the scope of the museum's collections policy. During the fye may 31, 2024, a significant item, a small plaster statue of a seated susan b anthony signed by artist bessie potter vonnoh, was sent to westlake conservators to be restored. This sculpture by the renowned artist had not previously been included in her catalogue of works; it may be a new discovery for the art world. That susan b. Anthony sat for the artist in the 1890's is well-documented. The museum periodically invests in restoration of the susan b. Anthony house, its national historic landmark, with restricted grants and contributions. Cumulative costs associated with restoration, including architectural planning, the physical restoration work, and furnishings, have amounted to over $1 million as of may 31, 2024 and 2023. These improvements are not reflected on the balance sheet, as they are not capitalized, as noted above. No items were deaccessioned during the years ending may 31, 2024 or 2023.”

“The permanent endowment was established for the upkeep of gardens and grounds, conservation and care of the collection and general operations. The board designated funds were established for general operations.”

“The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to the organization's tax-exempt purpose could be subject to taxation as unrelated business income. In accordance with asc 740-15-50, the organization recognizes the tax benefits from uncertain tax positions only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. Management believes that the organization is currently operating in compliance with the applicable requirements of the internal revenue code. Therefore, no liability for unrecorded tax benefits has been included on the organization's financial statements. The exempt organization's informational returns are subject to audit by various taxing authorities.”

“Event expenses, net with fundraising revenue 78,763. Cost of goods, museum store 44,264.”

“Event expenses, net with fundraising revenue 78,763. Cost of goods, museum store 44,264.”

“BAD DEBT EXPENSE 20,469.”