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 capitalized 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. During 2016, the foundation and director craig wirth completed work on a film documentary called or perish in the attempt and included this documentary in the collection, as it will be used at the lewis and clark interpretive center for the education of visitors. During 2019, the foundation received the painting forlorn hope and capitalized at an estimated fair market value of $4,000. The organization received many varied contributions, including art items, when soliciting contributions for the trail mixer. Many items are not suitable for display at the lewis and clark interpretive center or are intended by the donor to be sold to raise funds. In these cases, the organization may sell the item rather than retaining it as part of the collection.”

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