Northern Indiana Historical Society Inc

“We collect artifacts relating to the history of the st. Joseph river valley and northern indiana. Our collections are maintained for public exhibition, education, and research in furtherance of public service rather than for financial gain. Collections are the most valuable assets of the society, and are protected, kept unencumbered, cared for, and preserved. As a matter of policy, the proceeds of items in collections that are sold are used to acquire other items for collections or to preserve and conserve those items in the collections. Our collections are comprised of approximately 500,000 individual items with an insured value of 7,000,000. We do not include either the cost or the value of our collections in the statements of financial position, nor do we recognize gifts of collection items as revenue in the statements of activities. Since items acquired for collections by purchase are not capitalized, the cost of those acquisitions is reported as decreases in net assets in the statements of activities, while proceeds from items disposed of (deaccessions) are reported as increases in the appropriate class of net assets in the statements of activities.”

“The object and archive collection of the northern indiana historical society represents the material culture and documented history of the st. Joseph river valley, and are preserved, conserved, and utilized in research, programs, and exhibits to fulfill the society's mission.”

“Income from the society's endowment fund, which is administered by the related northern indiana historical society foundation, is used to support the society's programs.”

“We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the position will be sustained on examination by taxing authorities based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. Examples of tax positions include our tax-exempt status and positions related to the potential sources of unrelated business taxable income. We have not identified any uncertain tax positions taken or expected to be taken in a tax return, and there are no unrecognized tax benefits recorded as liabilities in the accompanying financial statements. We classify interest and penalties, if any, associated with uncertain tax positions as a component of income tax expense, and there was no accrued interest or any penalties related to unrecognized tax benefits at either december 31, 2024 or 2023, or any interest or penalties expense related to unrecognized tax benefits for the years then ended. We are no longer subject to examination by the internal revenue service or the state of indiana for years prior to december 31, 2021.”

“Cost of goods sold 17,112 special event expenses 27,305”

“Cost of goods sold 17,112 special event expenses 27,305”