Trigg - C M Russell Foundation Inc

“The conservation easements protect charles m. Russell's home built in 1900 and log studio built in 1903. These buildings are located next to the museum itself, and are open for tours during museum hours. The conservation easements are part of the foundation's permanent art collection, which is not reported in its revenue statement or balance sheet pursuant to sfas 116.”

“Note 14 to the financial statements: permanent art collection: the foundation's collections are made up of art objects, personal belongings, and historical artifacts of charles m. Russell and others held for public exhibition, education, or research in furtherance of public service rather than financial gain. Each item is protected, kept unencumbered, cared for, and preserved. Activities verifying their existence and assessing their condition are performed continuously. Proceeds from sales of deaccessioned collection items are used to acquire other items for the collection. The foundation has an adopted collections management policy in place. In keeping with standard museum practice, the collections, which were acquired via purchases and contributions, are not recognized as assets on the statements of financial position. Purchases of artwork are recorded as decreases in net assets with donor restrictions or net assets without donor restrictions in the year of purchase, depending on the sources of funds used. The collection items acquired by gift were valued by the donors at $855,620 and $110,130 for the years ended september 30, 2024 and 2023, respectively, and are not reflected in the statements of activities.”

“The organization's permanent collections include more than 12,000 objects spanning from about 1750 to the present: paintings, drawings, original prints, sculpture, native american artifacts, books, manuscripts, imprints, maps, photographs, and correspondence. Also included are two historic structures, the russell home and studio, both of which include historic and period furnishings, tools, equipment, art supplies, clothing, and other appropriate collections. The collections relate to the culture and history of the american west. Significant parts of the fine art collection, artifact collection, and russell studio collection consist of objects created by, owned by, and/or used buy charles m. Russell. This collection furthers the exempt purpose of the organization, which is to collect, preserve, reseach, interpret and educate on the art and life of charles m. Russell; the art and life of his contemporaries; and the art of preceding and ensuing generations that depicts and focuses on the culture, life and country of russell's west.”

“The trigg - c.m. Russell foundation, inc. Endowment was established to support the museum finances for a variety of purposes. There are three categories of endowment funds: permanent, temporarily restricted, and board designated. In the permanent endowment, donors have placed certain restrictions on their gifts. These restrictions include operations, education and art. The foundation also has been the beneficiary of charitable gift annuities. These gifts are permanently restricted and the foundation has a liability for the annuity payments to the donors. The board designated endowment includes funds that were received from donors without restrictions and the board voted to designate these funds to be set aside for specific purposes. The purposes include funds for a curatorial chair, operations, education, art, exhibitions, general capital improvements, and studio improvements. The board can undesignate these funds at any time via board vote.”

“The foundation is exempt from federal income tax under section 501(c)(3) of the internal revenue code and therefore has no provision for federal and state income taxes.”

“Museum store allocated expenses 70,631. Change in value of split-interest agreements 240.”

“Museum store allocated expenses 70,631.”