Chicago Academy of Sciences

“Cas/pnnm holds a collection of natural history items for education, research and public exhibition. Cas/pnnm's collections are not recognized or capitalized.”

“Cas/pnnm's collections and archives provide baseline data for scientific understanding of nature in the midwest. The collections consist of natural history specimens, historic artifacts, artwork, photographs, and paper archives. These materials are used for scholarly research, exhibition, and educational programs, and are loaned to similar institutions for these activities. Cas/pnnm holds the collections in the public trust and preserves these materials for future generations.”

“Cas/pnnm's endowment funds consist of seven individual donor-restricted funds. Net assets associated with endowment funds, including funds designated by the governing board to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. Interpretation of relevant law: cas/pnnm's board of trustees has interpreted the uniform prudent management of institutional funds act (upmifa) enacted in the state of illinois as requiring the preservation of the fair value of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, cas/pnnm classifies as net assets with donor restrictions - permanently restricted (a) the original value of the gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment and (c) accumulation to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified as net assets with donor restrictions - permanently restricted is classified as net assets with donor restrictions - purpose and time restricted until those amounts are appropriated for expenditure by cas/pnnm in a manner consistent with the standard of prudence prescribed by upmifa. In accordance with upmifa, cas/pnnm considers the following factors in making a determination to appropriate or accumulate donor-restricted endowment funds: 1. The duration and preservation of the fund 2. The purposes of cas/pnnm and the donor-restricted endowment fund 3. General economic conditions 4. The possible effect of inflation and deflation 5. The expected total return from income and the appreciation of investments 6. Other resources of cas/pnnm 7. The investment policies of cas/pnnm all of cas/pnnm's endowment funds were donor-restricted for the year ended june 30, 2024. Cas/pnnm has no board-designated endowment funds.”

“Cas/pnnm, an illinois nonprofit corporation, is exempt from income taxes under section 501(c)(3) of the internal revenue code (the code) and applicable state law, except for taxes pertaining to unrelated business income, if any. In addition, cas/pnnm qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2) of the code. Management has determined that cas/pnnm was not required to record a liability related to uncertain tax positions as of june 30, 2024.”

“Change in value of beneficial interest in perpetual trust 84,936.”

“Special event expenses -133,607.”

“Special events expenses 133,607.”