Eagle Watch Inc

“The center's collections are made up of artifacts that are held for exhibits, research, educational, and curatorial purposes. Each of the items are cataloged, preserved, and cared for, and activities verifiying their existence and assessing their condition are performed continuously. The collections are subject to a policy that requires proceeds from their sales to be used to acquire other items for collections or assist in the preservation and conservation of the collections. The collections which were acquired through purchases and contributions since the center's inception, are not recognized as assets on the statement of financial position as allowed under u.s. Gaap. 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 donors. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset class.”

“The center's collections related to eagles, the mississippi river, and native american artifacts are held for exhibit, research, and education.”

“U.s. Gaap requires management to evaluate tax positions taken by the center and recognizes a tax liability (or asset) if the center has taken an uncertain position that more likely than not would not be sustained upon examination by a taxing authority. Management has analyzed the tax positions taken by the center and has concluded that as of june 30, 2014 and 2013, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The center is subject to routine audits by taxing jurisdictions, however, there are currently no audits for any tax periods in progress. The center will recognize future accrued interest and penalties related to unrecognized tax benefits in income tax expense, if incurred. The center is no longer subject to federal tax examinations by tax authorities for years before 2010 and state examinations for years before 2009. The determination of tax-exempt status is considered to be a tax position taken with respect to the provisions of u.s. Gaap.”