National Atomic Museum Foundation

“Historical collections, which are acquired through purchases or contributions since the organization's inception, are not recognized as assets on the statement of fianacial position as the organization adopted a policy of not capitalizing its atomic age and nuclear technology collections. Purchases of historical collection items are recorded as decreases in the unrestricted net assets in the year in which the items are acquired or as a decrease in temporary or permanently restricted net assets if the assets used to purchase the items are restricted by donors. Contributed historical collection items are not reflected on the financial statements. Proceeds from the sales of historical collections are recorded as increases in the appropriate net asset class. The historical collections are held for exhibition, education, and reserach. Proceeds from deaccessions or insurance recoveries are to be used exclusively for historical collection acquisitions. No material historical items of the foundation were deaccessed during the years ended september 30, 2016 and 2015.”

“The organization's collections consist of atomic age and nuclear technology items which are directly related to its exempt purpose of furthering the cultural, educational, and scientific programs of the national museum of nuclear science & history (the museum). The museum is the nation's only congressionally chartered museum of nuclear science & history.”

“The organization's intended use of the endowment funds is future stability of the organization.”

“The foundation has received tax-exempt status under code section 501(c)(3) of the internal revenue code, and has adopted accounting principles generally accepted in the united states of america, as they relate to uncertain tax positions for all open tax years. Currently, the 2013, 2014 and 2015 tax years are open and subject to examination by the internal revenue service and new mexico taxation and revenue department. However, the foundation is not currently under audit nor has the foundation been contacted by any of these jurisdictions. Management believes that all activities of the foundation are within their tax-exempt purpose, and that there are no uncertain tax positions. Any interest and penalties recognized associated with a tax position would be classified as current in the foundation's financial statements. No interest or penalties were recorded in 2016 or 2015.”

“Cost of goods sold 140,483. Fundraising expenses 16,745. Rental expenses 155.”

“Cost of goods sold 140,483. Fundraising expenses 16,745. Rental expenses 155.”