Boot Hill Museum Inc.

“The Organization's collections are made up of artifacts of historical significance and art objects that are held for educational and curatorial purposes. Each of the items is cataloged, preserved, and cared for, and activities verifying 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. The collections, which were acquired through purchases and contributions since the Organization's inception, are not reflected in the accompanying financial statements since the Organization does not capitalize collections. Collection items acquired either through purchase or donation are not capitalized. Purchases of collection items are recorded as decreases in unrestricted net assets if purchased with unrestriced assets and as decreases in temporarily restricted or permanently restricted net assets if purchased with donor-restricted assets. Contributions of collection items are not recognized in the statement of activities. Proceeds from de-accessions or insurance recoveries are reflected on the statement of activities based on the absence or existence and nature of donor-imposed restrictions.”

“Permanently restricted net assets consist of endowment fund assets to be held indefinitely. The income from the assets can be used to support the Organization's exempt purpose.”

“The Organization is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code, except on net income derived from unrelated business activities. The Organization holds special events and sells jewelry unrelated to the Organization's exempt purpose which is subject to tax on unrelated business income. At September 30, 2016 and 2015, the Association recorded income tax expense of $1,150 and $511, respectively, on these unrelated business activities. The Organization has not identified any uncertainties in federal or state income taxes for any open tax years as of September 30, 2016. The Organization is no longer subject to examinations by tax authorities for years before 2014. No authorities have commenced income tax examinations as of September 30, 2016.”

“Net change in beneficial interest in Community Foundation 2,223.”