Frick Art & Historical Center Inc

“The collections at the frick are at the center of the museum's mission to serve the public through preservation, presentation and interpretation of fine and decorative arts and historically significant artifacts. Encompassing fine and decorative arts, carriages, cars, building and ephemera related to the pittsburgh family life of gilded age industrialist henry clay frick, these collections form the core of what is now displayed in the exhibition venues.”

“The frick's endowment consists of various investment funds established or designated primarily for support of the organization's mission. Its endowment includes donor-restricted endowment funds and those designated by the board. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the frick to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The board of the frick has elected to be governed by the commonwealth of pennsylvania's act 141 (act 141) for the donor-restricted endowment funds. Act 141 permits election of a total return policy that allows a nonprofit to choose to treat a percentage of the average market value of the endowment's investments with donor restriction as income each year. However, the long-term preservation of the real value of the assets must be taken into consideration when the board elects the amount. The frick has elected a policy that requires the corpus of the net assets with donor restriction to be maintained, notwithstanding investment performance to the contrary. In accordance with act 141, the frick has adopted a written investment policy, of which a section specifically relates to the endowment fund. The frick considers the following factors in making a determination to set a spending rate for both the donor-restricted and board-designated endowment funds: 1. Protecting the corpus of the endowment fund. 2. Preserving the spending power of the assets. 3. Obtaining maximum investment return with reasonable risk and operational consideration. 4. Complying with applicable laws. The frick has not adopted act 141 for the funds that are board-designated for endowment. These funds are monitored by the investment committee of the board under operation of the investment policy and distributions are determined on an annual basis. Return objectives and risk parameters - the frick has adopted investment and spending policies for endowment assets that attempt to provide a reasonable level of funding to programs supported by its endowment while seeking to enhance the purchasing power of the fund's corpus by striving for long-term growth. Endowment assets include those assets of donor-restricted funds that the organization must hold in perpetuity or for a donor specified period, and board-designated endowment funds. Under this policy, as approved by the board, the endowment assets are invested in a manner that is intended to produce results that exceed the price and yield results of a blended benchmark of equity, fixed income, private equity and other long-term investments. Strategies employed for achieving objectives - to satisfy its long-term rate-of-return objectives, the frick relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The frick targets a diversified asset allocation to achieve its long-term return objectives within prudent risk constraints. The investment committee, with counsel from investments advisers, establishes investment policy, including asset allocation. Spending policy and investment objectives related to spending policy - the frick annually transfers up to approximately 5% of the previous 12 quarters' market value average of the board-designated endowment fund to undesignated net assets without donor restrictions for use in current and future operations. The percentage is applied to the 12-quarter average market value of the investments at december 31 of the previous year. The maximum draw for the years ended march 31, 2025 and 2024 was approximately $3,909,000 and $3,899,000, respectively. During the year ended march 31, 2025, the drawdown of endowment net assets approximated $3,909,000. In addition, the frick uses board-designated endowment funds to support the general operations. Amounts invested in the endowment or”

“The frick accounts for uncertain tax positions according to the financial accounting standards board (fasb) accounting standards codification (codification) topic income taxes, which prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. The frick has made the assessment and, as of march 31, 2025 and 2024, has determined there are no liabilities for uncertain tax positions required to be recorded. The frick believes that it is no longer subject to examination of its tax returns for years before 2022.”

“Cost of sales 363,620. Special event expenses 290,850.”

“Cost of sales 363,620. Special event expenses 290,850.”