Stan Hywet Hall & Gardens Inc

“Property and equipment includes land and buildings classified as historical landmarks that are carried at the 1981 fair market value based upon a tax appraisal and are not depreciated. Restoration to these historical landmarks is expensed as incurred. Purchases of collection items are recorded as decreases in unrestricted net assets if purchased with unrestricted assets and as decreases in temporarily restricted if purchased with donor-restricted assets. Contributions of collection items are not recognized in the accompanying consolidated financial statements. A january 1, 2009 appraisal valued the collection at $17,489,695.”

“Stan hywet hall & gardens, inc., located in akron, ohio, is the former home of f. A. Seiberling, the founder of the goodyear tire & rubber company, and his family. Completed in 1915, it is one of the most important remaining examples of an american country estate built by the wealth created at the turn of twentieth century when the emergence of modern america made akron the "rubber capital of the world". Open from april through december, stan hywet includes a 65-room manor house and more than 70 acres of artfully landscaped grounds. It is akron's only national historic landmark and is accredited by the american association of museums. More information about the organization's collections or exempt purpose can be found at www.stanhywet.org.”

“The endowment funds are intended to be used to aid the preservation, restoration and interpretation of the f.a. Seiberling family legacy.”

“Stan hywet and the foundation are exempt from federal income tax under section 501(c)(3) of the internal revenue code (irc) except for net revenues generated by the oil and gas operations and catering services, which are subject to income tax under section 511(a) of the irc. Arrc is a c corporation for federal and state income tax reporting purposes. Stan hywet and the foundation are not classified as a private foundation. The provision for income taxes is based upon income or loss before tax for arrc for financial reporting purposes. Deferred tax assets or liabilities are recognized for the expected future tax consequences of temporary differences between the tax basis of assets and liabilities and their carrying values for financial reporting purposes. Deferred tax assets are also recorded for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. In addition, a valuation allowance is recorded to reduce the carrying amount of deferred tax assets if it is more likely than not that all or a portion of the asset will not be realized. The organization follows guidance issued by the financial accounting standards board (fasb) on accounting for income taxes, and have evaluated its tax positions, expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings, and believe that no provision for income taxes is necessary to cover uncertain tax positions. The organizations' returns for tax years 2021 and later remain subject to examination by taxing authorities.”

“Rental expenses 110,585. Additional schedule g expenses 58,029. Change in beneficial interest in perpetual trust 162,288.”

“Rental expenses 110,585. Additional schedule g expenses 58,029.”