Cleveland Museum of Natural History

“Fasb asc 956 footnote - natural history collection: in keeping with standard museum practice, expenditures for collection items required in connection with the museum's exempt purpose are charged as expense in the statements of activities and are carried at no value on the statements of financial position. In addition, donations of collection items are not recognized as revenue or expenses in the financial statements.”

“Collections - the museum's collections include land, artifacts, fossils, art, taxidermy and a modern human skeletal collection which is one of the largest in the world and the largest in the united states. These assets provide the basis for world class research, exploration, education and exhibition programs of the museum.”

“Use of endowment funds - the museum's endowments consist of numerous funds, established for a variety of purposes, which have been pooled together for investment purposes. The endowments include both donor-restricted funds and funds designated by the board of trustees to function as endowments. Through these endowments the mission of the museum is advanced by supporting established educational programs, exhibitions, staff salaries and departmental expenses as well as the general operations of the museum.”

“Fin 48/asc 740 footnote - the museum follows the provisions of fasb asc 740-10-25 which prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The amount recognized is measured as the amount of benefit that is greater than 50% likely of being realized upon ultimate settlement. The museum recognizes interest and penalties accrued, if any, related to unrecognized tax uncertainties in income tax expense. The museum determined that there are no material uncertain tax positions.”

“Rent expenses netted with revenue in part viii, line 6b”

“Rent expenses netted with revenue in part viii, line 6b”

“The museum routinely purchases land for conservation purposes through its natural areas program. In keeping with standard museum practice, these expenditures are charged as expense in the statement of activities and are carried at no value in the statement of financial position of the museum. The natural areas program began in 1956 and now currently protects more than 12,000 acres (2,487 acres are under easement, the balance is owned outright). The center for conservation and biodiversity unites the museum's conservation and related activities to further the protection and stewardship of the region's native biodiversity. The center conducts extensive fieldwork, identifies and protects rare natural communities in northern ohio and provides conservation information to the community. As a result of the programs being conducted related to this work, the team is periodically visiting all of the sites and monitoring, inspecting and enforcing the conservation easements held by the museum.”

“Unrealized gains and losses presented on line 2a include income and loss from assets held in trust by others, as well as unrealized gains and losses on investments held by the museum.”