National Aviary in Pittsburgh Inc

“The aviary maintains and exhibits a significant collection of birds and horticulture. A value of this collection is not included in the statement of financial position because a reasonable valuation basis and life expectancy cannot be determined. Collection items acquired either through purchases, breeding programs, or donation are not capitalized. Purchases of collection items are recorded as decreases in net assets without donor restrictions if purchased with assets that are without donor restrictions and as decreases in net assets with donor restrictions if purchased with donor-restricted assets. Contributions of collection items are not recognized in the statement of activities. Proceeds from deaccessions or insurance recoveries are reflected in the statement of activities based on the absence or existence and nature of donor-imposed restrictions. During the years ended december 31, 2019 and 2018, the aviary spent approximately $16,000 to enhance its living collection.”

“The african grey parrot endowment fund requires that the earnings be utilized for the maintenance of the african grey parrots. The capital endowment fund requires that the earnings be utilized for maintenance of the capital construction for expansion of the aviary. The avian conservation endowment fund allows up to 5% of the annual value to be utilized to fund the salary and related expenses of the conservation department. In 2018, the aviary received an investment of $1,500,000 to be used to fund an audience development fund. The purpose of this fund is to provide the aviary with access to capital that could be immediately used for opportunities to grow its audience such as investments in exhibits, technology or programs. $1,000,000 is a permanently restricted endowment in which the aviary may draw 5% annually with the following provisions: if the endowment falls below 75% of its corpus value due to withdrawals or decline in market conditions, no funds may be withdrawn until such time that the endowment balance is restored to 75% or more of its corpus value. $500,000 is a restricted reserve in which the aviary may withdraw 100% of the funds with the following provisions: requests for approval will include a plan for replenishment. The aviary's goal is to replenish all funds withdrawn within five years or less. If draws from the reserve cannot be re-paid within a five-year period from derived sources, the permanently restricted endowment portion of the audience development fund will be frozen until such time the restricted reserve is re-paid in full. Annual withdrawals of 5% from the permanently restricted endowment can be used to re-pay the restricted reserve.”

“The aviary accounts for uncertainty in income taxes using a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold is met. Management determined that there were no tax uncertainties that met the recognition threshold in 2019 and 2018. At december 31, 2019, the aviary had operating loss carry-forwards resulting from its unrelated business activities of approximately $994,000 which may be applied against taxable income in future years. The net operating loss carry-forwards expire at various dates beginning in 2026. A valuation allowance has been recorded to offset the resulting deferred tax asset due to the uncertainty of the future use of these net operating losses.”

“Rental expenses -674,463. Cost of goods sold -204,454. Special events -190,352.”

“Rental expenses 674,463. Cost of goods sold 204,454. Special events 190,352.”

“Difference between the reconciling donated services and use of facilities revenue of $336,981 and expense of $330,481 relates to $6,500 of donated equipment that was capitalized and not expensed in 2019. Therefore, the $6,500 is not a reconciling item for expenses.”