Alaska Native Heritage Center Inc

“The Center's collections, which were acquired through purchases and contributions since the Center's inception are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets without donor restrictions in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net assets classes. Proceeds could be used for acquiring new collection items. The Center's collections are made up of approximately four thousand objects of scientific and historical significance that are held for educational, research, scientific, and curatorial purposes. These items are cataloged, preserved, and cared for, and activities verifying their existence and assessing their condition are performed continuously, including a policy that requires proceeds from their sales to be used to support the Center's collections.”

“The object collection includes nearly 4000 objects made and used by alaska natives, past and present, representing five cultural areas. It is comprised of works of art objects, traditional objects of everyday use in alaska native villages and settlements, objects used in ceremonies and performances of alaska native song, dance, storytelling, or drama. The intent of the alaska native heritage center collections is to enhance the aesthetic environment of the center and share these objects that are integrated in the site and facilities of the center, preserve and maintain authenticity in the objects used in the exhibits throughout the center, and to advance public understanding of alaska native artistic traditions and cultures.”

“In 2010, the kreiselsheimer remainder foundation transferred $412,147 to the alaska community foundation (foundation) and established the foundation's alaska native heritage endowment fund (fund). The kreiselsheimer remainder foundation has restricted the use of the funds to be used to support the general charitable purposes consistent with anhc's charitable purposes. Anhc's mission is "to share, perrpetuate and preserve the unique alaska native cultures, languages, traditions and values through celebration and education." the foundation holds discretion on the amount of distributions that can be made from the fund and the foundation's board has variance power over the fund in that it can at its discretion make distributions to other charitable entities if their general charitable purpose is consistent with anhc's. The fund donated $36,126 and $0 to anhc during the years ending march 31, 2025 and 2024, respectively.”

“ANHC is exempt from Federal income tax as an organization described in Section 501(c)(3) of the Internal Revenue Code whereby only unrelated business income, as defined by Section 512(a)(1) of the Internal Revenue Code, is subject to Federal income tax. ANHC applies the provisions of ASC No. 740 relating to accounting for uncertainty in income taxes. ANHC annually reviews its tax returns and positions taken in accordance with the recognition standards. ANHC believes that it has no uncertain tax positions which would require disclosure or adjustment in these financial statements.”

“Expenses moved to Revenues for Fundraising Events $ 159,358 Bad Debt Recovery moved to Revenues $ (70,101)”

“Expenses moved to Revenues for Fundraising Events $ 159,358 Bad Debt Recovery moved to Revenues $ (70,101)”