The Leepa-Rattner Museum of Art Inc

“The presentation of the collection as not capitalized is the most widely practiced method of presentation for organizations similar to the museum. The value of the museums collections has been excluded from the statement of net position and artwork gifts are excluded from revenue in the statement of revenues, expenses, and change in net position. The collections are held in the public trust for exhibition and educational purposes, not for financial gain. Each of the items is catalogued, preserved, and cared for in order to maintain the cultural, aesthetic, and historic value of the collections. Activities verifying the existence and assessing the condition of the collections are periodically performed.”

“Core collection (leepa-rattner-gentle collection) the core collection of the leepa-rattner museum of art, inc. (museum) consists of 1,186 objects: paintings, sculptures, works on paper (drawings, watercolors, prints), tapestries and stained glass maquettes, and up to 3,000 inventoried objects (mostly works on paper). This collection is not owned by the museum, but managed by the museum through an agreement between the st. Petersburg college, the st. Petersburg college foundation, inc. (foundation), and the museum. Secondary core collection (gulf coast museum of art collection) the secondary collection of the museum consists of 275 objects that have been donated to the museum by the foundation. Based on the nature of this collection, the museum has redefined its mission and direction. More than two-thirds of the collection reflects florida art and southeastern united states fine art crafts amassed between 1995 and 2008. Donated art (1,326 objects) listed by donation size 1. St. Petersburg college foundation, inc. (245 accessioned objects): prints created mostly from the 1980s through the 1990s at print workshops in the united states and canada by a variety of known and lesser known artists gifted to the museum by the foundation through a brokered deal with the eckerd college foundation. 2. Richard florsheim art fund (182 accessioned objects): paintings and prints by chicago artist richard florsheim (1916-1979) reflecting a 40-year retrospective of the artists career. 3. Vladimir yoffe / pasco art center (46 accessioned objects): sculptures and ephemera by new york sculptor vladimir yoffe (1911-1997) transferred to the museum from the non-collecting pasco art center. 4. Lothar and mildred uhl collection (340 accessioned objects): currently reflecting a variety of media, as well as a recent gift of 88 prints by winslow homer and 144 prints by leonard baskin. 5. Caroline adams byrd-denjoy collection (131 accessioned objects): a collection of modern and contemporary prints produced in france in a variety of printing techniques. 6. Patricia a. And thomas j. Lehnen family art collection (43 accessioned objects): an eclectic collection of fine art, contemporary craft and ethnographic art, including works by dale chihuly. 7. Dorothy mitchell collection (34 accessioned objects): large-format screenprints created in the 1990s at berghoff-cowden editions in tampa by seven nationally known artists. 8. Zipkin family collection (17 accessioned objects): while not a large collection, the pieces given have greatly enhanced the existing leepa- rattner-gentle collection with the expectation of more objects being gifted. 9. Barbara witlin collection (11 accessioned objects): donation by the widow of roy witlin (1923-1997), large reverse paintings on plexiglas works. 10. Edna andrews and dr. Dietrich schroeer collection (12 accessioned): an alumnus of st. Petersburg college and an art collection, edna andrews schroeer and her husband have given european prints. 11. Other donations (265 accessioned objects by 63 individual donors): these works reflect a variety of artists, periods and media in the 20th and 21st century art. The above numbers include adjustments from the 2012-2013 collections statement to reflect only those works which have been accessioned into the museums permanent, education and gulf coast collections. Prior year figures may include archival or ephemera items which were included in the deed of gift, but are not appropriate for accessioning into the museums collection. All items not accessioned are inventoried and documented and used for archival purposes.”

“The museum has an endowed fund valued at 3.1 million at 3/31/2014. The museum is permitted to draw up to 80% of the earnings above the endowment principal balance in accordance with the donor's agreement.”

“The museum is an organization exempt from taxation under section 501(c)(3) of the internal revenue code and is generally not subject to federal or state income taxes. However, the museum is subject to income taxes on any net income that is derived from a trade of business, regularly carried on, and not in furtherance of the purpose for which the museum is granted exemption. No income tax provision has been recorded as the net income, if any, from any unrelated trade or business, in the opinion of management, is not material to the basic financial statements taken as a whole. Management has evaluated its tax positions taken for all open tax years and has not identified any uncertain tax positions. The 2010, 2011, and 2012 tax years are open and subject to examination by the internal revenue service (irs). The museum is not currently under audit nor has the museum been contacted by the irs.”

“Museum store expenses 11,506 special event expenses 4,799”

“Museum store expenses 11,506 special event expenses 4,799”

“Part xi & xii donated services and use of facilities - 1. St. Petersburg college provides supplies, personnel and facilities totaling 616,508. The supplies for a total of 29,178 are reported on line 1 of schedule a, leaving 587,330 from the college. 2. Other donors provide services totaling 27,974. The total of these donations is 615,304.”