Bishop Museum

“The museum has extensive collections of art, rare books and manuscripts, cultural artifacts and natural history specimens. Those collections are maintained under curatorial care and held for research, education and public exhibition in furtherance of public service. The museum does not capitalize collections. Collection items that are donated are not reflected in the consolidated financial statements. Collection items that are purchased are recorded as changes in unrestricted, temporarily restricted, or permanently restricted net assets based on the existence or absence of donor-imposed restrictions. Any proceeds from insurance recoveries or sales of collection items are recorded as an increase in the appropriate net asset class, after considering any donor-imposed restrictions.”

“Bishop museum was designated as the hawaii state museum of natural and cultural history in 1988. Its cultural and natural collections encompass more than 24 million catalogued objects. The cultural collection was established with hawaiian artifacts and heirlooms from the kamehameha monarchy and has expanded to include artifacts, documents and photographs about hawaii and other pacific island cultures. The cultural collection currently includes over 1.3 million artifacts, 115,000 historical publications and 1 million historical photographs, films, works of art, audio recordings and manuscripts. The natural history collection currently consists of 22.3 million specimens of plant and animal life of hawaii and the pacific, including specimens that are now extinct. The collections are the center of the organization's mission to study, preserve and tell the stories of the natural and cultural history of hawaii and the pacific. Research based on the collections provide the basis for education and exhibitions provided to the public. The collections are maintained under curatorial care to preserve artifacts for the education of future generations.”

“The organization's endowment funds are used for education, collections care, research, and general operations.”

“U.s. Gaap requires uncertain tax positions to be recognized in the financial statements if they are more likely than not to fail upon regulatory examination. Management has evaluated the museum's tax positions as of june 30, 2024 and 2023, and for the years then ended, and determined that there were no uncertain tax positions required to be reported in accordance with u.s. Gaap. The museum is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any open tax periods.”

“Direct rental expenses 70,884. Direct fundraising expenses 138,820. Change in value of split-interest agreements 2,163,754.”

“Increase (decrease) in net assets with donor restrictions 2,674,513.”

“Direct rental expenses 70,884. Direct fundraising expenses 138,820.”