The Washington Center for The

“Collectible items consist of art objects that are held for educational and curatorial purposes and have long term artistic value that does not decrease in value with the passage of time and are reported as collectible, nondepreciating assets. The items are recorded at cost if purchased and at fair value at the date of accession if donated. Gains and losses from deaccession are reported as changes in the net assets based on the absence or existence and nature of donor-imposed restrictions. Collection items are protected, kept unencumbered, cared for, and preserved. Proceeds from deaccessions are reflected as increases in the appropriate net asset category and are to be used for the purchase of additional appropriate items for the collection and/or for the management and direct care of the permanent collection items. Direct care includes preventive care and conservation of the collections.The Centers collectibles consist of a Wurlitzer Organ, a Steinway Piano, and Artwork, appraised at approximately $205,000, that are used for performances and on public display.”

“The Center's endowment consists of one donor-restricted fund for maintenance and preservation of the Andy Crow Wurlitzer Organ that shall not expire and shall be preserved by the Center in perpetuity. The Center has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain, preserve, and protect endowment assets.”

“Under provisions of Section 501(c)(3) of the Internal Revenue Code, the Center is exempt from federal income taxes, except for net income from unrelated business activities. Certain revenues are considered unrelated business income by the Internal Revenue service and are, therefore, subject to taxation after deducting allocable expenses. For the year ended June 30, 2024, the Organization had no unrelated business activities subject to federal income taxes. Management evaluated the Center's tax positions and concluded that the Center had taken no significant uncertain tax positions that require adjustments to the financial statements to comply with provisions of Topic 740 of the Accounting Standards Codification. The Organization's tax returns are subject to review and examination by federal authorities.”

“Special Event Expenses $24070 Cost of Goods Sold- Concessions $68883”

“Investment Fees $3423”

“Special Event Expenses $24070 Cost of Goods Sold- Concessions $68883”

“Investment Fee $3423”