Atlanta Historical Society Inc

“The Organization's historical buildings and collections are essential in enabling the Organization to fulfill its mission and purpose. The Organization's collections are made up of artifacts of historical significance and art objects that are held for educational, research and curatorial purposes. Each of the items is cataloged, preserved and cared for, and activities verifying their existence and assessing their condition are regularly performed. The Organization carries its historical buildings and collections at no value. The cost of purchased historical buildings or collections is reported as an expense. Contributed historical buildings or collections are not valued. During 2024 and 2023, approximately $419,000 and $601,000 respectively, was charged to the Organization for the purchase of historical collections. Betterments and improvements to historical buildings are capitalized and carried at cost. Except for betterments and improvements to historical buildings, expenditures for restoration, stabilization and reconstruction are charged to expense when incurred.”

“The organization's primary purpose is to collect, preserve, and disseminate information about atlanta, georgia and its environs in order to connect people, history, and culture. The atlanta historical society through its collections, facilities, programs, exhibitions, and publications preserves and interprets historical subjects pertaining to atlanta and its environs and of interest to atlanta's diverse audiences.”

“The endowment funds of the atlanta historical society are used to support the annual expense incurred to achieve the organization's mission and vision and to fund the expenses and activities as proscribed by the donor designated restrictions.”

“($288,656) fundraising expenses”

“1,064,720 bad debt reserve”

“($288,656) fundraising expenses”

“The Subsidiaries are treated as a partnership for federal and state income tax purposes. Since the Society is the sole member of the Subsidiaries, all income, losses and tax credits from the Subsidiaries' activities are reported on the Society's income tax returns. The Society qualifies as a tax-exempt organization as described in Internal Revenue Code Section 501 (c) (3). Income from certain activities not directly related to the Organization's tax exempt purpose is subject to taxation as unrelated business income. In the opinion of management, the Society had no significant taxable unrelated business income during 2024 or 2023. Additionally, in the opinion of management, the activities of the Subsidiaries are not subject to unrelated business taxable income. Accordingly, no provision or benefit for income taxes has been recorded in the accompanying consolidated financial statements. The Organization annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the Organization takes meet the definition of an uncertain tax position under the Income Taxes Topic of the Financial Accounting Standards Codification. In the normal course of business, the Organization is subject to examination by the federal and state taxing authorities. In general, the Organization is no longer subject to tax examinations for the years ending before June 30, 2021.”