Boise Art Museum Inc

“The accounting standard on accounting for uncertainty in income taxes addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, the museum may recognize tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. There were no unrecognized tax benefits identified or recorded as liabilities for fiscal year 2025. The museum files form 990 in the u.s. Federal jurisdiction. The museum is generally no longer subject to examination by the internal revenue service for years before 2022.”

“Direct fundraising expenses cost of goods sold”

“Direct fundraising expenses cost of goods sold”

“The art collection items, which were acquired through purchases and contributions since the museum's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. Contributed collection items are not reflected in the year of acquisition as contributed revenue in the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes.”

“Boise art museum's permanent collection has been developed in support of the museum's mission to create visual arts experiences, engage people, and inspire learning through exceptional exhibitions, collections, and educational opportunities. The scope of the collection is primarily american modern and contemporary art, with additional focus areas of american, asian, european, and ethnic art. Bam's reputation as a high caliber visual arts organization and its status as the only nationally accredited collecting art museum in idaho have led to large gifts of art from nationally known collectors. The museum currently possesses more than 4,250 objects, including paintings, sculptures, drawings, prints, ceramics, photographs and ethnographic material. In order to provide opportunities for public exploration and understanding of the collection and its purpose as a cultural resource, the works in the permanent collection regularly form the basis for bam's exhibitions and serve as the backbone for the development of educational programs. Permanent collection exhibitions are featured regularly in lectures by artists and art experts, dropin studio programs for children and adults, art classes and camps, as well as the museum's in-person artreach program and bam's free online artreach program, which provides hands-on art lessons to students in rural classrooms and throughout idaho, and centers on artworks from the permanent collection along with select temporary exhibitions. These essential, mission-driven activities depend upon the longterm development and preservation of the collection, making this one of the museum's highest priorities.”

“The endowment fund of the boise art museum was established to provide a source of revenue for the boise art museum's activities in perpetuity. The primary goal of the endowment fund is to provide the boise art museum with a flow of income to support the costs of operating the boise art museum. The permanent endowment campaign was originally launched by the boise art museum in 1982. After 1982, the endowment committee periodically adopted policy statements regarding the operation and investment of the endowment fund. The endowment committee policy statement was restated in its entirety by the endowment committees in 1989, 2015, 2020, and 2025.”