Rolling Hills Zoo Foundation

“Collections include animal specimen mounts, artifacts and related art for educational purposes. As allowed by accounting principles generally accepted in the united states of america, management has elected not to capitalize the collection. All costs incurred in acquiring new collection items or reconstructing existing collection items will be expensed. Rhz is subject to federal regulations regarding transfers of the animal specimen mounts. In an ongoing commitment to enhance the worldwide awareness of species representation and education, rhz shares animal mounts with other organizations. Consistent with industry practice, rhz does not record any asset or liability for such sharing arrangements, as generally these arrangements are without monetary considerations. Rhz holds a large collection of taxidermied animal mounts which have been received over many years from various organizations and private donors. As previously noted, management has elected not to capitalize the collection. Thus, it is presented on the statement of financial position with a $-0- value.”

“Our collection consists of many fabulous pieces which are phenomenal representations of their species. Guests are able to better understand the plight of animal species around the world while encouraging an awareness of the relationship that exists between human and animals.”

“Rhz follows the provisions of an accounting standard for accounting for uncertainty in income taxes. Rhz believes that it has the appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Rhz files a federal exempt organization tax return. Rhz is subject to u.s. Federal tax examinations by the tax authority generally for a period of three years after the filing of the tax return.”