Marion Historical Museum Inc

“Description: interest income. Amount: 9.”

“Income: gross receipts: 75. Returns and allowances: 0. Less cost of goods sold: 20. Gross profit: 55. Cost of goods sold: inventory at beginning of year: 0. Merchandise purchased: 0. Cost of labor: 0. Materials and supplies: 20. Other costs: 0. Inventory at end of year: 0. Cost of goods sold: 20.”

“Description: real property. Amount: 700.”

“Activity classification: support marion history. Grantee name: marion historical society incorporated. Grantee address: 590 10th st. Marion, ia 52302. Grantee relationship: none. Property description: land 47,839; heritage center bldg, furn/equip: cost $434,552, a/d $434,552. Method used to determine book value: $10,000 cash plus assets calculated as cost less accumulated depreciation. Method used to determine fmv: net book value. Book value of property: 47,839. Date of gift: 12/02/15. Amount given: 57,839.”

“Description: advertising. Amount: 831. Description: conferences, conventions, meetings. Amount: 150. Description: depreciation. Amount: 19. Description: dues. Amount: 16. Description: exhibits. Amount: 4,011. Description: insurance. Amount: 4,526. Description: office expenses. Amount: 5,250. Description: other expenses. Amount: 260. Description: payroll taxes. Amount: 1,116. Total to form 990-ez, line 16: 16,179.”

“Description: to correct accumulated depreciation to actual 6.30.2015 balance. Amount: -665,330. Description: to correct payroll liability to actual 6.30.2015 balance. Amount: 181. Total to form 990-ez, line 20: -665,149.”

“Description: prepaid expenses. Beg. Of year amount: 874. End of year amount: 188. Description: other depreciable assets. Beg. Of year amount: 0. End of year amount: 1,109.”

“The bylaws were amended july 15, 2015. The following significant changes were made: 1. Added 'life members' as a new class of members, any member eligible for an annual membership who is current on their dues is eligible for 'life membership' 2. All membership types (annual, life, honorary) are now required to complete a membership application, and the board of directors reviews the applications for approval 3. Voting rights of all membership types have been restricted, no member shall be eligible to vote until they have been a member for at least 90 days 4. The membership is charged with governance over the organization, the board of directors is in charge of governance between membership meetings 5. Voting by proxy and by mail is no longer permitted 6. A standard for quorum has now been formally established at 6 members in good standing or 10% of the members in good standing, whichever is less 7. The amendment formally adds the required dissolution language, stating that all assets after making provision for all debts will be distributed to 501(c)(3) or similar industry-related non-profit organizations as determined by the board of directors 8. An article was added to address the process for amending the bylaws; any member may propose an amendment, once proposed proper notice must be provided to the membership and to pass a majority of members voting at the meeting must vote in its favor”