Textile Museum of D C

“The museum's collection of over 19,000 objects represents 5,000 years of textile arts traditions, primarily of non-western cultures. Its holdings of pre-columbian, peruvian textiles and oriental carpets are among the most important in the world. The museum generally presents five to seven exhibitions annually that highlight areas of the permanent collection and also include contemporary fiber art and american quilts. During the year ended december 31, 2013, the museum presented one exhibition due to the anticipated transition of the collection to a new facility.”

“The museum's collection includes rugs and textiles with dates ranging from 3,000 b.c. To the present. The collection represents indigenous cultures from every continent and is organized into two distinct categories: eastern hemisphere and western hemisphere. The institutional mission statement and strategic plan guide the museum's collecting process. The artistic, technical, and cultural significance of objects are important considerations for development of the museum's permanent collection. When adding to the permanent collection, the museum's curators consider the potential uses of the objects for research, exhibition, and educational purposes. The museum's curators also consider historical perspective, both in relation to the existing collection and in consideration of future generations of scholars and museum visitors. The history of collecting in a given area, the history of a specific textile tradition, and the curator's scholarly interests all affect how the permanent collection is developed. As mentioned previously, the available resources demand that development of the permanent collection relies primarily on gifts rather than purchases. In conformity with the practice followed by most museums, the value of objects donated to the collection is not included in the financial statements. The cost of all objects purchased is recorded as an expense. The museum added 96 and 134 individual objects to the collection during the years ended december 31, 2013 and 2012, respectively, through gifts or bequests. There were no purchases or de-accessions during either of the years ended december 31, 2013 and 2012.”

“The museum has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment.”

“The museum believes that it has appropriate support for material income tax positions it has taken. Therefore, management has not identified any material uncertain income tax positions. Generally, income tax returns related to the current and three prior years remain open for examination by taxing authorities.”

“Cost of goods sold 154,763. Tribute dinner expense 17,394.”

“Cost of goods sold 154,763. Tribute dinner expense 17,394.”