Field Museum of Natural History

“The museum's collections are comprised of objects of historical, cultural or scientific significance that are held for educational, research, scientific and curatorial purposes. Each of the items is cataloged, preserved and cared for, and activities verifying its existence and assessing its condition are performed continuously. The collections are subject to a policy that requires proceeds from sales of collection items to be deposited in the endowment, with earnings to be used to acquire other items for collections or provide for the direct care of existing collections. In accordance with the practice generally followed by museums, the value of objects in the collections is excluded from the financial statements; collections are reflected in the accompanying statements of financial position at a nominal value of $1. Such collections have been acquired through purchases and contributions since the museum's inception. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired, or as decreases in temporarily restricted net assets if the assets used to purchase the items are restricted by donors. Contributed collection items are not reflected in the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in unrestricted net assets. There were no sales of collection items in 2024.”

“The museum's collections are made up of artifacts of historical, cultural, or scientific significance. Much of the collection is featured in the museum's general collection which is open for public exhibition. The collection is also used for advanced scientific study and scholarly research. Through exhibition and study, the museum acts as an independent center of learning focused on the world's physical environments and cultures in furtherance of the organization's exempt purpose.”

“The assets of the endowment funds shall be invested to obtain the greatest "total return" commensurate with the risks deemed appropriate pursuant to the provisions of the investment policy. The primary objectives of the management of the endowment funds are to 1) achieve long-term growth through capital appreciation as well as income and 2) preserve the purchasing power of the assets of the endowment fund by obtaining a "real return" equal to or in excess of normal annual spending-endowment withdrawals to support the museum.”

“The museum is exempt from income taxation under the provisions of section 501(c)(3) of the internal revenue code and a comparable state of illinois statute. Management believes there are no material uncertain tax positions that require recognition in the accompanying financial statements. The museum has a policy to record interest and penalties (if any) related to income tax matters in income tax expense. The museum has determined that its tax positions satisfy the more likely than not criterion. For the year ended december 31, 2024, no interest and penalties were recorded.”

“Special events expenses 499,982. In-kind donations 65,100.”

“Special events expenses 499,982. In-kind donations 65,100.”