Lewis & Clark Foundation

“Collections are capitalized at appraised or fair market value at the date of receipt. One of the foundation's collection items, a painting by olaf carl seltzer - "chief yellow weasel" was valued at $250,000 in 1997. In 2005, a painting of the interpretive center by thomas gilleon was purchased jointly at an auction by two families and donated to the foundation. It is valued at the auction price of $2,000. In september 2006, a family donated "offering at the great clearing", a painting by jesse w. Henderson, to the foundation. It was appraised and is reported on the financial statements at $38,000. All three of the foundation's paintings are on display at the interpretive center. In november 2009, a historic "bull boat" was donated to the foundation. It is capitalized at an estimated fair market value of $250.00 for financial reporting purposes. During 2012-2013, preservation work, at a cost of $1,500, was completed on the bull boat and it has been rendered suitable for display at the interpretive center. In january 2010, a historic bison skull was donated to the foundation. It is cpaitalized at an estimated market value of $250 for financial reporting purposes. In may 2011, the foundation completed and installed for display at the interpretive center a life-size bronze statue of seaman, the newfoundland dog accompanying the lewis & clark expedition; the statue is capitalized at the total cost to complete and install of $14,151.00. During 2011, the foundation received a 2/3 scale replica of a bateau boat constructed and tested by boy scouts. The authentic replica bateau boat is capitalized at an estimated fair market value of $13,000 and is installed at the interpretive center for display. During 2013, the foundation received a clay sculpture by artist joe halko entitled missori breaks medicine.”

“Income generated by the endowment funds is utilized for program services and administrative expenses.”