Longhouse Reserve

“Longhouse maintains a collection of works of art. A description of the contents of the permanent collection is maintained by the collections manager and the collection is currently insured for approximately $3.4 million. The value of the collection, which was acquired through purchases and contributions since longhouse's inception, is not reflected as an asset on the statement of financial position. Purchases of collection items are expensed in the year of acquisition. Contributions of collection items are not recognized in the statement of activities. Proceeds from deaccessions or insurance recoveries are reflected on the statement of activities based on the absence or existence and nature of donor-imposed restrictions. There were no acquisitions during the year ended december 31, 2024. The collection is held for public service rather than financial gain, protected and preserved, and subject to an organizational policy that requires the proceeds from sales of such items to be used only for collection acquisitions, preservation, protection and direct care. Longhouse defines direct care to include costs for materials, systems, equipement, fees for experts, independent contractors, and outside vendors engaged in projects directly related to the care of the objects in the collection.”

“Longhouse reserve's collection consists of numerous objects, mostly in the craft medium, which are a perfect fit for the longhouse reserve's mission. These objects are on view and lent to various organizations for exhibit.”

“The investment earnings of the organization's endowment funds are used to provide support for the maintenace of longhouse, its garden and grounds, and its general operations.”

“Direct benefit expenses 436,330.”

“Direct benefit expenses 436,330.”

“Longhouse maintains a collection of works of art. A description of the contents of the permanent collection is maintained by the collections manager and the collection is currently insured for approximately $3.4 million. The value of the collection, which was acquired through purchases and contributions since longhouse's inception, is not reflected as an asset on the statement of financial position. Purchases of collection items are not recognized in the statement of activities. Proceeds from deaccessions or insurance recoveries are reflected on the statement of activities based on the absence or existence and nature of donor-imposed restrictions. There were no acquisitions during the year ended december 31, 2024. The collection is held for public service rather than financial gain, protected and preserved, and subject to an organizational policy that requires the proceeds from sales of such items to be used only for collection acquisitions, preservation, protection and direct care. Longhouse defines direct care to include costs for materials, systems, equipment, fees for experts, independent contractors, and outside vendors engaged in projects directly related to the care of the objects in the collection.”