The Adler Planetarium

“In conformity with the accounting practices generally followed by museums, the adler's collections, which were acquired through purchases and contributions since the adler's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets with donor restrictions in the year in which the items are acquired. The adler's collections are made up of more than 7,000 artifacts and archival works of historical significance that are held for educational, research, scientific, and cultural purposes. The collections are subject to a policy that requires proceeds from their sales to be used to acquire other items for collections or to support the direct care of collections. Direct care of collections is defined by the adler as costs that prolong the life and usefulness of the collection, costs providing benefits that enhance the quality and protection of the collection, and costs that make a physical impact on collections objects, increasing or restoring their cultural or scientific value. Routine and ongoing expenditures are not considered direct care of collections. Schedule d, part iii, line 4: from its inception, the adler planetarium has held one of the world's foremost collections of instruments related to astronomy. Today, the adler possesses a major collection of historic scientific instruments; rare books and of works on paper dealing with astronomy, scientific instruments and related subjects; a collection of replicas and similar "hands-on" objects used for educational purposes; and archives pertaining to the history of the adler itself. The adler's historic scientific instrument collection contains more than 2,800 three-dimensional artifacts dating from the 12th through the 20th centuries, ranging from medieval astrolabes and armillary spheres to sundials, planetaria, and telescopes from the scientific revolution to contemporary instruments for celestial navigation. The rare book collection (numbering about 2,700) and works on paper collection (more than 750 works) cover subjects related to astronomy and space science. The educational collection furnishes realistic models and replicas for use by the educators on the museum floor and off-site, in situations where the use of delicate artifacts would be inappropriate.”

“The endowment funds are to be used primarily for the maintenance and operation of the facilities of the adler planetarium. The adler planetarium has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets.”

“The adler qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code ("irc") and, accordingly, is only subject to federal or state income taxes on specific types of income from activities that are unrelated to its exempt purpose. The adler had no material income from unrelated activities and has no material income taxes due as of june 30, 2025. The adler's application of the accounting standards regarding uncertain tax positions had no material effect on its financial position as management believes the adler has no material unrecognized income tax benefits, including any potential risk of loss of its not-for-profit tax status. The adler would account for any potential interest or penalties related to possible future liabilities for unrecognized income tax benefits as income tax expense.”

“Unrealized loss on interest rate swap -756,703. Fundraising expense 241,647. Rental expense from real property 333,262.”

“Rental expense from real property 333,262. Fundraising expense 241,647.”