Craft and Folk Art Museum

“The information return is distributed to the board for review. After review and approval, the executive director authorizes the electronic filing of the return by its outside cpa.”

“At the beginning of each year the board of trustees are required to fill out a conflict of interest statement declaring any conflicts. If conflicts are listed, they are discussed at the next board meeting. The conflict of interest policy is revisited at various board meetings throughout the year.”

“The organization evaluates the executive director each year based on results, the budget and a review of organizations similar in size and mission.”

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public by appointment during normal business hours.”

“The financial information previously reported in the original return reflected unaudited balances. After the audit was completed, these balances changed. As a result, the return is being amended. This amended return contains the following changes to the amounts previously reported in the original return: part 1, summary line 5 changed from 26 to 23 part iii statement of program service accomplishments line 4a, expenses changed from $1,025,940 to $1,148,925 line 4a, revenue changed from $212,004 to $283,118 line 4e, total program expenses changed from $1,025,940 to $1,148,925 part iv checklist of required schedules box 11f changed from no to yes box 12a changed from no to yes part v statements regarding other irs filings and tax compliance box 2a changed from 26 to 23 box 7a changed from no to yes box 7b changed from no to yes part vi governance, management, and disclosure section c, row 20 changed from rody lopez to the organization part vii compensation of officers, directors, trustees line 1 now contains suzanne isken's info line 1b, column d changed from $0 to $120,016 line 1b, column f changed from $0 to $3,600 part viii statement of revenue box 1b changed from $96,356 to $39,286 box 1c changed from $0 to $113,331 box 1e changed from $247,205 to $123,261 box 1f changed from $1,047,369 to $1,683,035 box 1h changed from $1,390,930 to $1,958,913 box 2a admissions changed from $67,503 to $67,379 box 2b other income changed from $4,630 to $4,531 box 3 changed from $11,820 to $21,433 box 8a changed from $87,276 to $23,881 box 8b changed from $18,090 to $23,881 box 8c changed from $69,186 to $0 box 10a changed from $356,034 to $400,177 box 10b changed from $216,163 to $188,969 box 10c changed from $139,871 to $211,208 part ix statement of functional expenses box 5, column a changed from $120,000 to $123,614 box 5, column b changed from $108,000 to $111,254 box 5, column c changed from $6,000 to $6,180 box 5, column d changed from $6,000 to $6,180 box 7, column a changed from $530,268 to $556,751 box 7, column b changed from $477,242 to $486,163 box 7, column c changed from $26,513 to $7,558 box 7, column d changed from $26,513 to $63,031 box 9, column a changed from $31,164 to $22,651 box 9, column b changed from $28,048 to $19,807 box 9, column c changed from $1,558 to $346 box 9, column d changed from $1,558 to $2,498 box 10, column a changed from $26,719 to $50,561 box 10, column b changed from $24,047 to $44,391 box 10, column c changed from $1,336 to $1,013 box 10, column d changed from $1,336 to $5,157 box 11c, column b changed from $0 to $48,470 box 11c, column c changed from $55,207 to $1,106 box 11c, column d changed from $0 to $5,361 box 11g, column a changed from $46,238 to $49,238 box 11g, column b changed from $0 to $41,238 box 11g, column c changed from $42,000 to $8,000 box 11g, column d changed from $4,238 to $0 box 12, column a changed from $32,761 to $24,726 box 12, column b changed from $14,954 to $24,396 box 12, column d changed from $17,807 to $330 box 13, column a changed from $38,410 to $18,434 box 13, column b changed from $37,408 to $16,185 box 13, column c changed from $501 to $369 box 13, column d changed from $501 to $1,880 box 14, column a changed from $24,315 to $24,314 box 14, column b changed from $18,236 to $21,347 box 14, column c changed from $4,863 to $487 box 14, column d changed from $1,216 to $2,480 box 16, column a changed from $65,007 to $42,836 box 16, column b changed from $48,756 to $32,127 box 16, column c changed from $13,001 to $8,567 box 16, column d changed from $3,250 to $2,142 box 17, column a changed from $4,614 to $8,200 box 17, column b changed from $4,614 to $8,200 box 22, column a changed from $43,144 to $46,672 box 22, column b changed from $32,358 to $35,004 box 22, column c changed from $8,629 to $9,334 box 22, column d changed from $2,157 to $2,334 box 23, column a changed from $38,300 to $40,373 box 23, column b changed from $32,599 to $35,446 box 23, column c changed f”

“The organization's audit committee has responsibility for the oversight of the audit of its financial statements and selection of the independent auditor, subject to the approval of the board of directors. This responsibility is unchanged from the prior year.”