Studebaker National Museum Inc.

“The museum has in its possession three categories of vehicles as of december 31, 2013: (1) the original collection of forty nine vehicles, on loan from the city of south bend; (2) sixty vehicles from individual donors; and (3) fourteen vehicles on loan from various individuals. In addition, there are other artifacts which are on loan from the city of south bend and certain individuals. In conformity with the practice followed by many museums, vehicles and other artifacts donated or purchased are not included in the statement of financial position; expenditure or receipts are included in exhibits and restoration expense.”

“To operate a historical museum which provides housing, display & restoration facilities for a collection of vehicles, archives & related items.”

“The intended use of the endowment funds are to support the exempt purpose of studebaker national museum, inc.”

“The museum's policy is to record an unrecognized tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the tax authorities. Interest and penalties related to gross unrecognized tax benefits would be included within the provision for income taxes. To the extent accrued interest and penalties do not ultimately become payable, amounts accrued would be reduced in the period that such determination is made and reflected as a reduction of the overall income tax provision. The museum does not have any uncertain tax positions at december 31, 2013. The museum files a federal and an indiana state tax return. The tax years that management believes remain subject to examination by the federal and indiana tax jurisdictions date back to the year ending december 31, 2010.”

“Direct expenses for special events cost of goods sold reported on form 990 page 9 line 10b”

“Direct expenses for special events cost of goods sold reported on form 990 page 9 line 10b”