Tallahassee Museum of History and Natural Science Inc

“In accordance with industry practice, animals purchased and donated are not included on the statements of financial position but are expensed in the year purchased since the lives of these animals are indeterminable. Additionally, the museum has elected not to capitalize non-living collections due to their subjective valuation. The proceeds from deaccession of collection items may be used for acquisitions of new collection items or the direct care of existing collections. The museum adheres to the ethical principles and definition of direct care established by the american alliance of museums and considers direct care to entail actions that enhance the life, usefulness, or quality of the collection items to ensure they will continue to benefit the public. Purchases of collection items are recorded as decreases in net assets without donor restrictions if purchased with assets without donor restrictions and as decreases in net assets with donor restrictions if purchased with donor-restricted assets. Contributions of collection items are not recognized in the accompanying financial statements. Proceeds from deaccessions or insurance recoveries are reflected on the statements of activities based on the absence or existence and nature of donor-imposed restrictions. The museum engages in a program of collecting and preserving objects in social, cultural, and natural history as well as maintaining a collection of living animals in order to fulfill its mission. The collections are a resource for exhibit development and educational programming. The museum employs directors and curators who are responsible for the professional care, treatment, display, and storage of the collections. Contributions to the collections are not reflected in the accompanying financial statements since the museum does not capitalize collections as indicated in note a. Additionally, the museum did not have any proceeds from the deaccession of collection items during the year ended september 30, 2024.”

“The tallahassee museum collects, preserves, and conserves historic artifacts and natural science specimens that reflect and support its mission. The museum uses its collections (10,470 artifacts and specimens), 127 cubic feet of archival material documenting the museum's history, 14 historic structures, a living collection of 43 species, and 114 native and domestic animals in its permanent and temporary exhibits to augment traveling exhibitions and serve as an invaluable reference resource for scholarly and academic research. Through these research activities, the museum contributes to the base of published knowledge on our region's history, cultural pathways, natural environment, and indigenous wildlife.”

“The endowment fund was established to support the general operations of the museum.”

“Management is not aware of any activities that would jeopardize the museum's tax-exempt status, and believes it has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements as of and for the years ended september 30, 2024 and 2023. The museum is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. The museum believes it is no longer subject to income tax examinations for fiscal years ending prior to september 30, 2021.”

“Direct expenses for special events (line 8b) -188,611 cost of goods sold (line 10b) -267,026”

“Direct expenses for special events (line 8b) -188,611 cost of goods sold (line 10b) -267,026”