This Is the Place Foundation Inc

“Artifacts and collectibles located at the park at the inception of the management agreement are owned by the state. Any artifacts and collectibles acquired by the organization will be transferred to the state to remain with the park when management agreement is terminated. The organization does not capitalize its collections.”

“The organization maintains and exhibits many of utah's historical treasures, most notably in the form of historical buildings moved to the park. The organization also owns or maintains and displays many period artifacts. All of these help to further the organization's mission to educate the public about the history of utah.”

“Permanently restricted net assets totaling $28,000 at march 31, 2016 represent permanently restricted donations to support the bf johnson saddlery. Investment and interest earned on the $28,000 bf johnson saddlery endowment is restricted for the operation and maintenance of the bf johnson saddlery building.the temporarily restricted endowment funds include "perkins" donations that may be used for unrestricted purposes, such as the general operation of the park, but no more than $200,000 per calendar year, including any earnings, of the perkins donations. In addition to the "perkins" donations, there are other temporarily restricted net assets which are used to fulfill the donor's intended purposes.”

“The internal revenue service has granted the organization an exemption from income taxes under section 501(c)(3) of the internal revenue code. The state of utah has granted a similar exemption to the organization. Accordingly, no taxes have been provided for in the financial statements. The organization generates unrelated business income from its rental operations and reports the gain or loss on those operations as taxable income or loss. For the year ended march 31, 2016, the organization has not incurred or paid any income tax on unrelated business income. Generally, tax returns are subject to examination by the internal revenue service and state taxing authorities for three years after they are filed. At march 31, 2016, the organizations tax returns for the years ending march 31, 2012 and forward are subject to examination. The organization has not recorded a liability for, and believes it does not have, any uncertain tax positions.”

“Bad debt reserve adjustment $9640”