Rancho Santa Ana Botanic Garden

“The organization does not capitalize its comprehensive living collection of california native plants, extensive dried specimen collection in the herbarium, and the wide-ranging collection of botany volumes held in its library, or recognize them as revenues or gains. Donations need not be recognized if they are added to collections that are held for public exhibition, education, or research in furtherance of public services rather than financial gain; are protected, kept unencumbered, cared for, and preserved; and are subject to a policy that requires the proceeds from sales of collection items to be used to acquire other items for collections.”

“The organization maintains a comprehensive living collection of californian native plants, an extensive dried specimen collection in the herbarium, and a wide-ranging collection of botany volumes held in its library. No cost has been capitalized for these collections as it is impractical to determine their value due to the large number of items and the long span of years it has taken to create the collections. In addition, capitalizing collections contradicts standards of collections stewardship and is counter to the ethical standards set forth by the museum field. Research, library and herbarium: library and archive - the research library contains approximately 48,000 volumes and 750 current journals and periodicals. Acquisitions increase yearly and include bound journals and periodicals. The library also houses the archives which include the marcus jones archives and collection, as well as the samuel parish collections; both men were local botanists in the late 19h century. Herbarium - the combined herbarium of rancho santa ana botanic garden is about the tenth largest in the united states and the third largest in the western united states, with current holdings totaling over 1,100,000 specimens representing plant diversity worldwide and with superlative strengths in holding of plants from california and other mediterranean climate regions. Horticulture - living plant collections: living collection - the living collection contributes to the research and conservation mission of the garden. Through public horticulture, the living collection also promotes the thoughtful utilization of our natural heritage. The living collection covers 86 acres housing over 2,500 accessions of plants native to california and baja. Those accessions represent 1,400 taxa, different kinds of plants, including 900 species. Seed conservation program - the primary function of rancho santa ana botanic garden's seed program is the curation and management of the garden's extensive seed collection. The collection is comprised of over 4,000 accessions representing more than 1,600 california native plant species and cultivars.”

“The organization's endowments consisted of the initial endowment received in 1934, which provides ongoing support for the organization, and endowment funds received in subsequent years. The net assets associated with the endowment funds are classified and reported based on the existence or absence of donor-imposed restrictions. The board of trustees of the organization has interpreted the uniform prudent management of institutional funds act ("upmifa") as requiring the preservation of the original gift as of the gift date of the donor-restricted endowment funds absent explicit donor stipulations to the contrary. As a result of this interpretation, the organization classifies as net assets to be held in perpetuity (a) the original value of the gifts donated to the permanent endowment, (b) the original value of the subsequent gifts to the permanent endowment, and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining portion of the donor-restricted endowment fund that is not classified in net assets to be held in perpetuity is classified as net assets subject to endowment spending policy and appropriation, until those amounts are appropriated for expenditure by the organization in a manner consistent with the standard of prudence prescribed by upmifa. In accordance with upmifa, the following factors are to be considered in making a determination to appropriate or accumulate endowment funds: - the duration and preservation of the fund - the purpose of the organization and the donor-restricted endowment fund - general economic conditions - the possible effect of inflation and deflation - the expected total return from income and appreciation of investments - other resources of the organization - the investment policies of the organization”

“The organization operates as a nonprofit organization and has been recognized by the internal revenue service (irs) as an organization exempt from income tax pursuant to internal revenue code (irc) section 501(c)(3) on its income other than unrelated business income and has also been recognized by the franchise tax board as exempt from state franchise or income tax pursuant to california revenue and taxation code section 23701(d) on its income other than unrelated business income. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. The organization is subject to income tax on net income that is derived from business activities that are unrelated to the exempt purposes. The organization files informational returns in the u.s. Federal jurisdiction and the state of california.”

“Cost of goods sold 356,825. Fundraising event expense 40,376. Rent income expense 6,037.”

“Cost of goods sold 356,825. Fundraising event expense 40,376. Rent income expense 6,037.”