Perot Museum of Nature & Science

“A portion of the collections of the museum are owned by the city of dallas, and a portion are owned by the museum. The museum's collections are comprised of objects of historical, cultural or scientific significance that are held for educational, research, scientific, and curatorial purposes. Each of the items is cataloged, preserved and cared for, and monitored according to professional museum standards, and activities verifying its existence and assessing its condition are performed continuously. The collections are subject to a policy that requires proceeds from sales of collection items be used to acquire other items for collections or provide for the direct care of existing collections.”

“The museum's collections include over 200,000 items comprised of artifacts, eco-facts, entomology, vertebrate, invertebrate, and botanical paleontology, malacology, ichthyology, herpetology, ornithology and mammalogy specimens, and cover approximately 1.7 billion years of the earth's history. The perot museum of nature and science is a collections-based, research-driven nature and science museum dedicated to furthering an understanding and appreciation of the natural, technological, and scientific world through collections-based research, educational programs and exhibits. The museum uses its collections to support its mission to "inspire minds through nature and science."”

“The intended use of the endowment funds is to support the perot museum of nature and science.”

“The organization has been recognized by the internal revenue service as a nonprofit corporation exempt from federal income tax on its income, under section 501(c)(3) of the internal revenue code. The organization follows the provisions of asc 740-10, income taxes, related to unrecognized tax positions. The organization recognizes the tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by the taxing authorities, based on the technical merits of the positions. The tax benefits recognized in the financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The organization does not believe there are any material uncertain tax positions and accordingly, it will not recognize any liability for unrecognized tax benefits. For the years ended september 30, 2024 and 2023, there were no interest or penalties recorded or included in the financial statements. The organization is relying on its tax-exempt status and its adherence to all applicable laws and regulations to preserve that status. However, the conclusions regarding accounting for uncertainty in income taxes will be subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analysis of tax laws, regulations, and interpretations thereof. The organization's informational returns are generally subject to examination for three years after the later of the due date or date of filing. As a result, the organization is no longer subject to income tax examinations by tax authorities for years prior to 2020.”

“Additional bad debt expense -171,711.”

“Rental direct costs -668,582. Additional special event expenses -415,390.”

“Rental direct costs 668,582. Additional special event expenses 415,390.”

“Additional bad debt expense 171,711.”