Delta Air Transport Heritage Museum Inc

“In conformity with industry practice, museum artifacts and collection items purchased or donated are not recorded as assets in the accompanying statement of financial position. Even though not reflected in the financial statements, the museum's artifacts and collections represent one of its most valuable assets. Purchases of artifacts and collection items are reported as decreases in unrestricted net assets or as decreases in temporarily restricted net assets if the assets used to purchase the items were restricted by donors. It is the museum's policy not to sell artifacts or collection items without the board of trustees' approval for items valued over $5,000. Any proceeds from sales of artifacts or collection items or insurance recoveries are reflected as increases in the appropriate class of net assets. Artifacts and collections are numbered and catalogued in a continuous inventory and is maintained for its inherent scientific, cultural and educational value.”

“Collections at the delta flight museum enable the museum to allow visitors from around the world to explore aviation history, celebrate the story and people of delta, and discover the future of flight. The museum maintains eight historic aircraft, aviation artifacts acquired by the museum through donation or purchase since its founding in 1995, and archival records related to delta air lines' crop dusting activity in 1924-1966, and cargo/passenger service and growth since 1929. The collections represent over 40 airlines affiliated with delta through mergers and route acquisitions, including the world's first aerial crop-dusting company and airlines serving the united states since the mid 1920s. There are extensive holdings of advertising and audiovisual materials, flight attendant uniforms, airline flight schedules and passenger service equipment. These collections are made accessible through exhibits at the delta flight museum, loans of artifacts, image and reference services and on-site visits by academic researchers.”

“The museum is a not-for-profit organization and is exempt from federal and state income taxes under section 501(c)(3) of the u.s. Internal revenue code of 1986, as amended. Accordingly, no provision for income taxes has been made in these financial statements. Management has considered the tax positions taken in its tax returns and believes that all of the positions taken by the museum in its federal exempt organization tax returns are more-likely-than-not to be sustained upon examination. The museum files form 990 in the u.s. Federal jurisdiction and the state of georgia.”

“Reclass fr expense to revenue -141,993. Reclass cost of sales to revenue -131,530. Reclass rent expense against rent revenue -632,936. Reclass loss on asset disposal -168,273.”

“Reclass fr expense to revenue 141,993. Reclass cost of sales to revenue 131,530. Reclass rent expense against rent revenue 632,936. Reclass loss on asset disposal 168,273.”