Great Valley Museum Foundation

“The museum has various exhibits dedicated to providing science and natural history information to adults and children of all ages great central valley exhibit. Our six habitat dioramas feature native flora and fauna specific to our great valley, great animal hall exhibit - lions, tigers, and bears (and more) featuring the osterburg collection of animals from around the world native californians exhibit - includes yokut and miwok history and artifacts.”

“The endowment funds are intended to support the museum operations and collections.”

“The foundation is exempt from income taxes under section 501(c)(3) of the internal revenue code and section 23701(d) of the california revenue and taxation code. The foundation has been classified as an organization that is not a private foundation under section 509(a)(2). The foundation has not entered into any activities that would jeopardize its tax-exempt status. Accordingly, no provision for income taxes is required. The foundation files exempt organization returns in the u.s. Federal and california jurisdictions. The federal returns for tax years 2010 and beyond, and the california returns for tax years 2009 and beyond, remain subject to examination by the taxing authorities. The foundation adopted fasb asc 740, income taxes, which clarifies the accounting for uncertainty in income taxes recognized in the foundation's financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Fasb asc 740 also provides guidance on derecognition and measurement of a tax position taken or expected to be taken in a tax return. The foundation believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The foundation does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Interest and penalties on tax assessments are classified as income tax expense when incurred. For the years ended june 30, 2014 and 2013, the foundation did not incur any interest or penalties.”