The Chrysler Museum Incorporated

“In conformity with the practice followed by most museums, the collection is not presented in the accompanying statements of financial position. The value of accessions (collection items purchased by the museum) and the deaccession proceeds are reported as non-operating activities in the accompanying statements of activities. Contributed collection items are not reflected in the financial statements. The museum is committed to applying the highest professional standards to the care and preservation of its unique collection. Each of the items is cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously. Accessions and deaccessions are approved by the museum's board and the proceeds from deaccession are used solely for the acquisition of collection items. Additionally, in an effort to maintain the purchasing power of such proceeds, the board has similarly designated the investment income earned on these funds. At june 30, 2025 and 2024, the museum's collection was insured at a level deemed appropriate by management.”

“The chrysler museum, incorporated (museum) is one of america's most distinguished art museums. Located in hampton roads, a community of approximately 1.8 million in southeastern virginia, the museum welcomes approximately 200,000 annual visitors from around the world. The museum is home to a world-class collection of over 30,000 paintings, sculptures, photographs, and decorative arts primarily assembled by industrialist walter p. Chrysler, jr. The museum is particularly well known for its glass collection, one of the finest and most comprehensive anywhere. The museum also administers the moses myers house located in downtown norfolk. The moses myers house, which was the residence of norfolk's first jewish citizens, includes more than 70% of its original late eighteenth century furnishings. In addition to its permanent collection, each year the museum presents a dynamic schedule of changing exhibitions and a wide variety of interpretive programs. Each is designed to make the works on view in the museum galleries accessible and meaningful to a diverse audience. Through an active program of loans from its collection and through the professional involvement of its staff, the museum maintains an active presence in the international museum community. The museum is particularly proud of its record of community citizenship. The museum is a regular partner and collaborator with regional governments, businesses, educational organizations, and cultural groups, seeking to leverage resources to efficiently provide the highest quality experience for the communities served. The museum's mission is to act as a catalyst. The chrysler museum of art welcomes you to connect with art, creativity, and our shared humanity. A free admission policy along with interpretive programming ensures the museum is accessible to the community it exists to serve. The museum also operates the chrysler museum perry glass studio (glass studio), which is an educational facility that offers the public an experimental approach to the exciting properties of glass. The glass studio complements the museum's comprehensive glass collection with an engaging approach that demonstrates the many glass processes used to create these extraordinary objects.”

“Endowment funds established for a variety of purposes supporting the museum.”

“The museum is an organization as described in section 501(c)(3) of the internal revenue code and is exempt from federal and state income taxes. The museum is, however, subject to federal and state income taxes on unrelated business income. For the years ended june 30, 2025 and 2024, the museum paid tax on unrelated business income of $73,908 and $52,549, respectively. For the years ended june 30, 2025 and 2024, approximately $36,977 and $8,544, respectively, of prior net operating loss carryforwards were utilized. As of june 30, 2025 and 2024, the net operating loss carryforwards were $101,363 and $138,340. Due to the uncertainty related to the potential use of these net operating loss carryforwards, management had applied a full valuation allowance against the related deferred tax asset. Tax returns are generally subject to examinations for three years from the date filed. Management continually evaluates tax positions reflected in the museum's tax filings and does not believe that any material uncertain tax positions exist. The museum's policy is to classify income tax related interest and penalties, if any, as miscellaneous expenses.”

“Cost of goods sold 258,935. Transfer of board designated reserves 1,604,548.”

“Investment management fee 587,853.”

“Cost of good sold 258,935. Transfer of board designated reserves 1,604,548.”

“Investment management fee 587,853.”