Evanston History Center

“Collections are works of art held for display at the center. The center does not capitalize collections as allowed under u.s. Gaap. The collections, which were acquired through purchases and contributions since the center's inception, are not recognized as assets in the statement of financial position. The center has a formal policy regarding collection acquisitions and deaccessions. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by the donors. Contributed collection items are not reflected in the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. The collections are subject to a policy that requires proceeds from their sales to be used to acquire, or care for, other items for collections. Many of the items in the collections are cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously.”

“The objectives of the evanston history center in operating its museum, archives and the dawes house are to collect, preserve, study, interpret, and exhibit significant materials relating to evanston and charles gates dawes; and to provide related educational services for the purpose of increasing and enriching public knowledge. The organizations collection includes artifacts, archives, dawes collection and costumes.”

“Intended use of organizations endowment funds is as follows: (1) board designated endowment fund was established to support achieving the long-term charitable goals of the organization, future programs and maintenance, (2) permanently restricted endowment funds was established to support achieving specific donor stipulations, (3) term endowment fund was established to support preservation of charles gates dawes collection and maintenance of dawes house as a historical center to display such collection.”

“The organization has adopted the provisions of asc topic 740, income taxes, relating to the accounting for uncertainty in income taxes. The organization files information returns in the u.s. Federal jurisdiction and the state of illinois. Management is not aware of any uncertain tax positions.”