2024-07-31T12:27:47-05:00 2023-12-31 202954888 BRYANS & GRAMUGLIA CPAS LLC 1 PINE WEST PLAZA SUITE 107 ALBANY NY 12205 990 2023-01-01 141398373 CANAJOHARIE LIBRARY & ART GALLERY CANA 5186732314 2 ERIE BOULEVARD CANAJOHARIE NY 13317 SUZAN FRIEDLANDER EXECUTIVE DIRECTOR 5186735656 2024-07-31 1 ROBERT GRAMUGLIA P00454779 5184528055 2024-06-14 2023 2024-08-08 14:25:15Z SUZAN FRIEDLANDER 2 ERIE BLVD CANAJOHARIE NY 13317 2092841 0 X WWW.ARKELLMUSEUM.ORG X 1972 NY TO PROMOTE AND CELEBRATE THE UNDERSTANDING AND ENJOYMENT OF THE ARTS AND HUMANITIES IN CANAJOHARIE, THE MOHAWK VALLEY, AND BEYOND AS WELL AS TO COLLECT, PRESERVE AND EXHIBIT AMERICAN ART AND MOHAWK VALLEY HISTORY. ADDITIONALLY, THE ORGANIZATION PROVIDES LITERARY SERVICES, ENTERTAINMENT, AND INFORMATION RESOURCES, AND PROMOTES THE ACTIVE USE OF THESE RESOURCES FOR RECREATION, EDUCATION, AND COMMUNITY ENGAGEMENT. 10 10 22 10 0 0 360182 576535 54905 55942 1278457 246478 0 0 1693544 878955 0 0 0 0 356760 383736 0 0 6085 647149 705383 1003909 1089119 689635 -210164 13158010 13537722 3477 2765 13154533 13534957 X TO PROMOTE AND CELEBRATE THE UNDERSTANDING AND ENJOYMENT OF THE ARTS AND HUMANITIES IN CANAJOHARIE, THE MOHAWK VALLEY, AND BEYOND AS WELL AS TO COLLECT, PRESERVE AND EXHIBIT AMERICAN ART AND MOHAWK VALLEY HISTORY. ADDITIONALLY, THE ORGANIZATION PROVIDES LITERARY SERVICES, ENTERTAINMENT, AND INFORMATION RESOURCES, AND PROMOTES THE ACTIVE USE OF THESE RESOURCES FOR RECREATION, EDUCATION, AND COMMUNITY ENGAGEMENT. 0 0 506067 51297 MUSEUM PROGRAM SERVICES 375906 4645 LIBRARY PROGRAM SERVICES 881973 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 7 0 1 22 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X SUZAN FRIEDLANDER 5186732314 2 ERIE BOULEVARD CANAJOHARIE NY 13317 CHARLES TALLENT PRESIDENT 1.00 X X 0 0 0 NATHAN FENNO VICE PRESIDENT 1.00 X X 0 0 0 WALLY HART SECRETARY 1.00 X X 0 0 0 ROBERTA ROCAS TREASURER 1.00 X X 0 0 0 ERIN SALIE TRUSTEE 1.00 X 0 0 0 MARK DAVIDSON TRUSTEE 1.00 X 0 0 0 CHRIS DUNCAN TRUSTEE 1.00 X 0 0 0 DEBORAH LIMONCELLI TRUSTEE 1.00 X 0 0 0 SHERYL NEAL TRUSTEE 1.00 X 0 0 0 ALAN BRUST TRUSTEE 1.00 X 0 0 0 SUZAN FRIEDLANDER EXECUTIVE DIRECTOR & CHIEF 40.00 X 58870 0 0 MARIA CANCRO LIBRARY DIRECTOR 40.00 X 43520 0 0 102390 0 0 0 0 0 0 0 10465 566070 576535 MEMBERSHIPS 900099 18540 18540 ADMISSIONS 900099 12959 12959 MUSEUM STORE SALES 900099 10028 10028 PROGRAM FEES 900099 9319 9319 LIBRARY FINES AND FEES 900099 1415 1415 3681 3681 55942 177955 177955 1282409 1213886 68523 68523 68523 0 10465 0 0 878955 55942 0 246478 102390 35836 66554 208982 175132 33850 3532 2078 1454 45324 26666 18658 23508 13830 9678 16783 16783 44284 44284 12825 12825 13003 7020 5983 158338 152182 6156 765 765 323627 323627 60048 31815 28233 PROGRAMS 24843 18588 170 6085 CONSERVATION OF ART 16894 16894 LIBRARY MATERIALS 9810 9810 EXHIBITIONS 8674 8674 15489 14772 717 1089119 881973 201061 6085 120406 243339 286718 237221 17540 19025 12548323 5554829 7304922 6993494 5428424 6044643 13158010 13537722 3477 2765 3477 2765 X 12468971 12766269 685562 768688 13154533 13534957 13158010 13537722 -210164 590588 0 X X 0 1 X 1 0 X 476994 510489 474650 360182 576535 2398850 476994 510489 474650 360182 576535 2398850 2398850 202106 678221 143392 147439 177955 1349113 3747963 0.64000 0.56580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 49522 7643 57165 57385 -7863 49522 50142 7243 57385 45151 4991 50142 28790 8000 8361 45151 1.00000 0 0 910 910 12367632 5417218 6950414 179781 137611 42170 6993494 FIXED INCOME 1832951 C EQUITIES 3444641 C REAL ASSETS 767051 C 6044643 X 1469543 590588 590588 878955 0 878955 1089119 0 1089119 0 1089119 PART III, LINE 1A: CLAG HAS ELECTED NOT TO CAPITALIZE ITS FINE ART AND HISTORY COLLECTIONS. THE FINE ART COLLECTION INCLUDES AMERICAN PAINTINGS, WATERCOLORS, SCULPTURES, PRINTS, DRAWINGS AND PHOTOGRAPHS. THE HISTORY COLLECTION INCLUDES ARTIFACTS, PHOTOGRAPHS AND EPHEMERA RELATING TO THE MOHAWK VALLEY AND THE BEECH-NUT PACKING COMPANY. COLLECTIONS ARE HELD FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. THE COLLECTIONS 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 COLLECTIONS ARE ACCESSIONED AND CATALOGUED, AND STORED IN CLIMATE CONTROLLED AND SECURE STORAGE AREAS WHEN NOT ON EXHIBIT. CLAG HAS EMPLOYED A CURATOR TO ENSURE THAT THE COLLECTIONS ARE PROTECTED AND PRESERVED. SOME PIECES WERE DONATED OR BEQUEATHED TO CLAG BY LOCAL RESIDENTS WHILE OTHER PIECES WERE PURCHASED BY THE CLAG. THE PURCHASED PIECES ARE EXPENSED RATHER THAN CAPITALIZED. THE PROCEEDS FROM THE SALE OF COLLECTION ITEMS ARE RESTRICTED TO THE PURCHASE OF OTHER COLLECTION ITEMS. PART V, LINE 4: CERTAIN NET ASSETS WITH DONOR RESTRICTIONS CONSIST OF ENDOWMENT FUNDS TO SUPPORT EARNINGS FOR GENERAL OPERATIONS, THE PURCHASE OF ART BOOKS AND MAINTENANCE OF THE FLAG POLE. CONTRIBUTIONS TO THE ENDOWMENT FUNDS ARE SUBJECT TO DONOR RESTRICTIONS THAT STIPULATE THE ORIGINAL PRINCIPAL OF THE GIFTS ARE TO BE HELD AND INVESTED BY CLAG INDEFINITELY AND INCOME FROM THE FUNDS ARE TO BE EXPENDED FOR GENERAL OPERATIONS AND PURCHASE OF ART BOOKS. AS REQUIRED BY THE MODIFIED CASH BASIS OF ACCOUNTING, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. CLAG HAS INTERPRETED THE NEW YORK PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT (NYPMIFA) AS REQUIRING THE PRESERVATION OF THE FAIR VALUE OF THE ORIGINAL GIFTS AS OF THE GIFTS DATE OF DONOR-RESTRICTED ENDOWMENT FUNDS ABSENT EXPLICIT DONOR STIPULATIONS TO THE CONTRARY. AS A RESULT OF THIS INTERPRETATION, CLAG CLASSIFIES CERTAIN NET ASSETS WITH DONOR RESTRICTIONS AS (1) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENTS, (2) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENTS, AND (3) ACCUMULATIONS TO THE PERMANENT ENDOWMENTS MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENTS AT THE TIME THE ACCUMULATION IS ADDED TO THE FUNDS. IN ACCORDANCE WITH NYPMIFA, CLAG CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: (1) THE DURATION AND PRESERVATION OF THE VARIOUS FUNDS, (2) THE PURPOSES OF THE DONOR-RESTRICTED ENDOWMENT FUNDS, (3) GENERAL ECONOMIC CONDITIONS, (4) THE POSSIBLE EFFECT OF INFLATION AND DEFLATION, (5) THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS, (6) OTHER RESOURCES OF CLAG, AND (7) CLAG'S INVESTMENT POLICIES. CLAG HAS ADOPTED INVESTMENT AND SPENDING PRACTICES FOR ENDOWMENT ASSETS THAT ATTEMPT TO SUBJECT THE FUNDS TO LOW INVESTMENT RISK AND PROVIDE ITS EARNINGS FOR GENERAL OPERATIONS AND PURCHASE OF ART BOOKS WITH CURRENT INCOME. ENDOWMENT ASSETS ARE INVESTED IN FIXED INCOME AND EQUITIES. CLAG SEEKS TO BUILD ENDOWMENT ASSETS THROUGH ADDITIONAL CONTRIBUTIONS. CLAG HAS A PRACTICE OF APPROPRIATING FOR DISTRIBUTION EACH QUARTER A FIXED AMOUNT FROM THE ASSETS THAT IS NOT WITH DONOR RESTRICTIONS. THIS IS CONSISTENT WITH CLAG'S OBJECTIVES TO PROVIDE INCOME FOR ITS EARNINGS OF GENERAL OPERATIONS AND PURCHASE OF ART BOOKS, PRESERVE ENDOWMENT ASSETS WITHOUT SUBJECTING THEM TO SUBSTANTIAL RISK, AND PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS. PART X, LINE 2: THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ISSUED FASB ASC 740-10 WHICH REQUIRES ENTITIES TO DISCLOSE IN THEIR FINANCIAL STATEMENTS THE NATURE OF ANY UNCERTAINTY IN THEIR TAX POSITION. FOR TAX-EXEMPT ENTITIES, THEIR TAX-EXEMPT STATUS ITSELF IS DEEMED TO BE AN UNCERTAINTY, SINCE EVENTS COULD OCCUR TO JEOPARDIZE THEIR TAX-EXEMPT STATUS. HOWEVER, CANAJOHARIE LIBRARY AND ART GALLERY HAS NO KNOWLEDGE OF EVENTS OR CIRCUMSTANCES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. CANAJOHARIE LIBRARY AND ART GALLERY IMPLEMENTED FASB ASC 740-10 AND ITS CURRENT ACCOUNTING POLICY FOR EVALUATING UNCERTAIN TAX POSITIONS IS IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. CANAJOHARIE LIBRARY AND ART GALLERY HAS NOT RECOGNIZED ANY BENEFITS FROM UNCERTAIN TAX POSITIONS IN 2023 AND BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE WITHIN 12 MONTHS OF THE STATEMENT OF FINANCIAL POSITION DATE. CANAJOHARIE LIBRARY AND ART GALLERY EVALUATED ITS TAX POSITION AND CONCLUDED THAT ALL OF THE POSITIONS TAKEN BY CANAJOHARIE LIBRARY AND ART GALLERY WOULD MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION, BASED ON TECHNICAL MERITS. THE INFORMATION RETURNS OF CANAJOHARIE LIBRARY AND ART GALLERY FOR 2020, 2021, AND 2022 ARE SUBJECT TO EXAMINATION BY TAX AUTHORITIES, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. X N/A X 8 N/A 0 0 0 PART I, LINE 33: THE FINE ART COLLECTION INCLUDES AMERICAN PAINTINGS, WATERCOLORS, SCULPTURES, PRINTS, DRAWINGS AND PHOTOGRAPHS. THE HISTORY COLLECTION INCLUDES ARTIFACTS, PHOTOGRAPHS AND EPHEMERA RELATING TO THE MOHAWK VALLEY AND THE BEECH-NUT PACKING COMPANY. COLLECTIONS ARE HELD FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. THE COLLECTIONS 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 COLLECTIONS ARE ACCESSIONED AND CATALOGUED, AND STORED IN CLIMATE CONTROLLED AND SECURE STORAGE AREAS WHEN NOT ON EXHIBIT. CLAG HAS EMPLOYED A CURATOR TO ENSURE THAT THE COLLECTIONS ARE PROTECTED AND PRESERVED. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR, THE BOOKKEEPER, AND THE FULL BOARD BEFORE IT IS FILED. THE FINANCIAL STATEMENT IS PRESENTED TO THE FULL BOARD BY THE CERTIFIED PUBLIC ACCOUNTANT WHO PERFORMS THE AUDIT. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO THE BOARD ANNUALLY AND SIGNED CONFIRMATIONS OF RECEIPT ARE COLLECTED. FORM 990, PART VI, SECTION B, LINE 15A EXECUTIVE COMPENSATION IS REVIEWED WHENEVER THE POSITION BECOMES VACANT. SUBSEQUENTLY SALARY ADJUSTMENTS ARE TYPICALLY COST OF LIVING INCREASES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES, AND BUDGETS ARE AVAILABLE ONLINE VIA OUR WEBSITE. PRINT COPIES ARE AVAILABLE UPON REQUEST. ALL MATERIALS PROVIDED TO BOARD MEMBERS (EXAMPLE: FINANCIAL STATEMENTS) ARE AVAILABLE ONLINE VIA OUR WEBSITE. FORM 990 - PART XII - LINE 1 THE FINANCIAL STATEMENTS OF CLAG HAVE BEEN PREPARED ON THE MODIFIED CASH BASIS OF ACCOUNTING. ACCORDINGLY, REVENUE IS RECORDED WHEN RECEIVED RATHER THAN WHEN EARNED AND EXPENSES ARE RECORDED WHEN PAID RATHER THAN WHEN THE OBLIGATION IS INCURRED. THAT BASIS DIFFERS FROM GENERALLY ACCEPTED ACCOUNTING PRINCIPLES PRIMARILY BECAUSE CLAG HAS NOT RECOGNIZED RECEIVABLES AND PAYABLES (EXCEPT IN CERTAIN CIRCUMSTANCES SUCH AS PREPAID EXCISE TAXES, ACCRUED EXCISE TAX PAYABLE, ACCRUED SALES TAX PAYABLE AND EMPLOYEE PAYROLL WITHHOLDINGS AS ALLOWED BY ACCOUNTING STANDARDS) AND THEIR RELATED EFFECTS ON THE CHANGE IN NET ASSETS. FORM 990 - PART XII - LINE 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.