2023-06-15T09:40:28-05:00 2023-01-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-02-01 042104809 OLD STURBRIDGE INC OLDS 5083473362 1 OLD STURBRIDGE VILLAGE ROAD STURBRIDGE MA 01566 JAMES DONAHUE PRESIDENT/CEO 5083473362 2023-06-12 1 JAMES DONAHUE XXX-XX-XXXX 1 JOHN BUCKLEY CPA P00830631 5083669100 2023-06-12 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z OLD STURBRIDGE VILLAGE JAMES DONAHUE 1 OLD STURBRIDGE VILLAGE ROAD STURBRIDGE MA 01566 17353068 0 X WWW.OSV.ORG X 1938 MA OLD STURBRIDGE VILLAGE, A MUSEUM AND LEARNING RESOURCE OF NEW ENGLAND LIFE, INVITES EACH VISITOR TO FIND MEANING, PLEASURE, RELEVANCE AND INSPIRATION THROUGH THE EXPLORATION OF HISTORY. 24 24 268 167 79404 0 12509108 7874853 4314719 5246883 357944 120730 1246039 1180775 18427810 14423241 0 0 0 0 6802452 8609671 0 5000 1771403 5730644 6550269 12533096 15164940 5894714 -741699 28213360 28299483 10532195 11947899 17681165 16351584 X OLD STURBRIDGE VILLAGE, A MUSEUM AND LEARNING RESOURCE OF NEW ENGLAND LIFE, INVITES EACH VISITOR TO FIND MEANING, PLEASURE, RELEVANCE AND INSPIRATION THROUGH THE EXPLORATION OF HISTORY. 0 0 6201257 2743639 EDUCATION & PUBLIC PROGRAMMING: PROVIDED PROGRAMS AND ACTIVITIES FOR LEARNING ABOUT AMERICA'S HISTORY WITH A FOCUS ON EARLY NEW ENGLAND DURING 1790-1840. INTERPRETERS PORTRAYED THE DAILY LIFE, WORK AND CELEBRATIONS OF AN EARLY NEW ENGLAND COMMUNITY TO APPROXIMATELY 200,000 VISITORS, INCLUDING 44,000 SCHOOL CHILDREN. OVER 47,000 ADDITIONAL VISITORS PARTICIPATED IN VARIOUS SPECIAL PROGRAMS AND EDUCATIONAL ACTIVITIES. 1610752 RESEARCH, CURATORIAL AND LIBRARY: RESEARCH INTO THE MATERIAL AND WRITTEN SOURCES OF REGIONAL HISTORY AND EFFORTS TO COLLECT AND PRESERVE THE BUILDING, OBJECTS, HAND PROCESSES AND CULTURAL PATTERNS OF EARLY NEW ENGLANDERS. HISTORICAL COLLECTIONS INCLUDE OVER 50,000 ARTIFACTS AND 40,000 BOOKS AND MANUSCRIPTS. 962772 847866 FOOD SERVICE: PROVIDES CATERING FOR ON-CAMPUS EVENTS AND CONVENIENT ON-SITE FOOD SERVICE TO VISITORS. 1709587 2158625 OTHER PROGRAMS. 1709587 2158625 10484368 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 149 0 1 268 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NY CA CT X JAMES DONAHUE 5083473362 1 OLD STURBRIDGE VILLAGE ROAD STURBRIDGE MA 01566 BICHOP NAWROT CHAIR 2.00 X X 0 0 0 CYNTHIA MICHENER VICE CHAIR 2.00 X X 0 0 0 ROBERT E ROEMER SECOND VICE CHAIR (UNTIL 6/2022) 2.00 X X 0 0 0 JOHN J ARGITIS TREASURER 2.00 X X 0 0 0 LYNN ECKHERT SECRETARY 2.00 X X 0 0 0 GEORGE F BOOTH TRUSTEE 2.00 X 0 0 0 SUSAN COLLINS TRUSTEE 2.00 X 0 0 0 MICHAEL D BROCKELMAN TRUSTEE 2.00 X 0 0 0 TERENCE O'COIN TRUSTEE 2.00 X 0 0 0 THOMAS S CURREN TRUSTEE (UNTIL 6/2022) 2.00 X 0 0 0 BROCK JOBE TRUSTEE 2.00 X 0 0 0 JOHN OTT TRUSTEE 2.00 X 0 0 0 DONNA A DECORLETO TRUSTEE 2.00 X 0 0 0 RICHARD SCHULZE TRUSTEE 2.00 X 0 0 0 PAUL SCULLY TRUSTEE 2.00 X 0 0 0 ALISON KENARY TRUSTEE 2.00 X 0 0 0 MARTHA HAMILTON TRUSTEE 2.00 X 0 0 0 PAUL RAPO TRUSTEE 2.00 X 0 0 0 MIKE VILLANO TRUSTEE 2.00 X 0 0 0 ALEX WALL TRUSTEE 2.00 X 0 0 0 ANGELA CHENG-CIMINI TRUSTEE 2.00 X 0 0 0 STEVE LAKE TRUSTEE 2.00 X 0 0 0 MARTHA MCKENNA TRUSTEE 2.00 X 0 0 0 MARGARET PIERCE TRUSTEE 2.00 X 0 0 0 RICHARD NORTON SMITH TRUSTEE 2.00 X 0 0 0 GRETCHEN SORIN TRUSTEE 2.00 X 0 0 0 JAMES DONAHUE PRESIDENT 40.00 X 298359 0 13486 TINA KRASNECKY VP OF FINANCE 40.00 X 141679 0 13083 BRAD KING SENIOR VP OF CAMPUS OPERAT 40.00 X 104079 0 4752 ELLEN TAVIANO DIRECTOR OF RETAIL OPERATIONS 40.00 X 101847 0 592 645964 0 31913 4 0 1 0 0 5250 171063 587946 7110594 1265485 7874853 ADMISSIONS 712120 1532294 1532294 EDUCATIONAL PROGRAMS/SPECIAL EVEN 712120 1211345 1211345 RETAIL OPERATIONS 712120 1100877 1021473 79404 FOOD SERVICE 722320 847866 847866 MEMBERSHIP DUES 712120 540151 540151 14350 14350 5246883 303621 303621 11267 11267 806116 0 806116 806116 806116 2422773 1776 2601403 6037 -178630 -4261 -182891 -182891 66275 171063 322387 -256112 -256112 CONTRACTED SERVICES 541900 582651 582651 TRUST MANAGEMENT FEES 541900 36853 36853 619504 14423241 5750130 79404 718854 534701 232856 110395 191450 6781729 4836285 1501456 443988 719562 527399 136296 55867 573679 414642 109864 49173 12826 12826 65451 65451 5000 5000 110789 110789 187555 16832 5668 165055 361360 361360 1111100 598384 270077 242639 767424 650641 94650 22133 283223 283223 470174 321694 124473 24007 292505 264737 13884 13884 MAINTENANCE 1006286 896446 89085 20755 FOOD 695894 695894 SPECIAL EVENTS & PROGRA 692565 579239 37410 75916 SECURITY EXPENSES 493117 449319 21899 21899 15164940 10484368 2909169 1771403 3331203 280712 202000 821006 166701 121243 108966 160825 79945 42213 19205881 13319257 5324884 5886624 15570510 17928032 3429151 3058828 28213360 28299483 976551 1027539 248725 273547 6278058 8033241 3028861 2613572 10532195 11947899 X 3624564 152970 14056601 16198614 17681165 16351584 28213360 28299483 X -741699 -650725 62843 X X 0 1 X 1 0 X 3636551 3768373 9843060 11817580 7770812 36836376 3636551 3768373 9843060 11817580 7770812 36836376 6967133 29869243 695506 688257 808127 1036761 1121004 4349655 36034 35625 35708 38761 36853 182981 41369012 21151921 0.72200 0.73000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 13113822 2618036 -441571 530000 14760287 9742638 2738000 1268184 635000 13113822 9427736 150000 754902 590000 9742638 8489383 10000 1328353 400000 9427736 9312336 157313 -405266 575000 8489383 0.91650 0.08350 0 0 245880 245880 16957800 12006242 4951558 1980158 1313015 667143 22043 22043 5886624 ASSETS HELD IN TRUST 3058828 3058828 ANNUITY PAYMENT LIABILITY 2613572 2613572 X 14046957 -650725 62843 -587882 14634839 110789 -322387 -211598 14423241 15376538 322387 322387 15054151 110789 110789 15164940 PART III, LINE 1A: IN ACCORDANCE WITH OTHER PRESENTATION MATTERS - GENERAL (SUBTOPIC 360-45): DISCLOSURE OF ART, HISTORICAL TREASURES, AND SIMILAR ASSETS, OSV DOES NOT CAPITALIZE ITS COLLECTIONS AS AN ASSET IN THE STATEMENTS OF FINANCIAL POSITION. MUSEUM COLLECTIONS INCLUDE ANTIQUE BUILDINGS, ARTWORK AND OBJECTS THAT ARE HELD FOR EDUCATIONAL, RESEARCH AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PERIODICALLY, OSV DETERMINES THAT SOME COLLECTIONS ARE NOT APPROPRIATE TO THE MUSEUM'S PURPOSE AND WILL SELL OR DE-ACCESS CERTAIN PIECES. THE DE-ACCESSION PROCEEDS ARE TO BE UTILIZED AS DETERMINED BY THE BOARD OF TRUSTEES FOR FUTURE COLLECTION ACQUISITIONS UNLESS THE ORIGINAL DONOR HAS SPECIFIED A RESTRICTION ON THE DE-ACCESSION PROCEEDS. PART III, LINE 4: THE COLLECTIONS OF OLD STURBRIDGE VILLAGE INCLUDE THE CULTURAL ARTIFACTS, RESEARCH LIBRARY, VISUAL RESOURCE LIBRARY (PHOTOGRAPHIC), ARCHIVES, ARCHAEOLOGICAL, HISTORIC STRUCTURES, AND LIVING (BOTH LIVESTOCK AND PLANT) COLLECTIONS. EACH OF THESE COLLECTIONS IS VITAL TO THE MUSEUM'S MISSION AND SUPPORTS ITS COMMITMENT TO PRESERVING, RESEARCHING AND INTERPRETING THE HISTORY AND LIFE OF RURAL NEW ENGLAND. PART V, LINE 4: OSV'S ENDOWMENT CONSISTS OF NUMEROUS FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY U.S. GAAP, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. OSV CLASSIFIES AS NET ASSETS WITH DONOR RESTRICTIONS (A) THE ORIGINAL VALUE OF GIFTS DONATED IN PERPETUITY, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS IN PERPETUITY, AND (C) ACCUMULATIONS TO THE 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 REMAINS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY OSV IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY MASSACHUSETTS LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, OSV MAY CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: - THE DURATION AND PRESERVATION OF THE FUND. - THE PURPOSES 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 THE APPRECIATION OF INVESTMENTS. - OTHER RESOURCES OF THE ORGANIZATION. - THE INVESTMENT POLICIES OF OSV. OSV HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS BOARD DESIGNATED FUND ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS, WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE AN AVERAGE ANNUAL REAL TOTAL RETURN, NET OF INVESTMENT MANAGEMENT FEES, OF GREATER THAN 5% OVER A ROLLING THREE-YEAR PERIOD. IN ESTABLISHING THIS POLICY, OSV CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, OSV RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST, DIVIDENDS, ETC.). OSV HAS A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. OSV'S BOARD OF TRUSTEES ESTABLISHED AN INVESTMENT SPENDING POLICY. UNDER THIS POLICY, THE BOARD OF TRUSTEES APPROPRIATED 5% OF THE AVERAGE MARKET VALUE OF OSV'S INVESTMENT PORTFOLIO OVER THE PREVIOUS TWELVE QUARTERS FOR OPERATIONS. PART X, LINE 2: OSV ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. OSV HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JANUARY 31, 2023. OSV'S INFORMATION AND TAX RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 62,843. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE -322,387. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 322,387. GALA 177308 133733 43575 5603 68131 101510 16029 35872 MCGRATH 27950 19450 8500 89 19523 10000 7370 2 32080 17880 14200 677 12380 36215 1965 7023 237338 171063 66275 6369 80511 157248 27994 50265 322387 -256112 X X X X X 0 0 0 0 0 0 0 0 0 JAMES DONAHUE PRESIDENT 298359 0 0 0 0 0 0 0 13486 0 311845 0 0 0 TINA KRASNECKY VP OF FINANCE 141679 0 0 0 0 0 0 0 13083 0 154762 0 0 0 PAUL SCULLY TRUSTEE IS THE PRESIDENT/CEO OF THE BANK OSV UTILIZES 6052615 OSV HAS DEPOSITORY AND DEBT ACCOUNTS WITH THE BANK THAT PAUL SCULLY IS THE PRESIDENT/CEO OF. OSV HAD OUTSTANDING PRINCIPAL DEBT BALANCES OF $6,052,615 AT JANUARY 31, 2023 WITH THE BANK. 0 X 6 170 FMV X 8 22360 FMV X 3310 FMV X 1000 FMV X 22 1183295 FMV X GALA EVENT DONATIONS 86 49081 FMV X SOFTWARE 1 3500 FMV X CHRISTMAS DECORATIONS 3 2725 RETAIL COST X RESEARCH MATERIALS 2 40 FMV X POSTCARDS/SLIDES 1 5 FMV 0 0 0 FORM 990, PART I, ITEM C DBA: OLD STURBRIDGE VILLAGE FORM 990, PART VI, SECTION B, LINE 11B A DRAFT WILL BE REVIEWED BY THE AUDIT COMMITTEE AND SHARED ELECTRONICALLY WITH THE BOARD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY IN ORDER TO ENSURE THAT THE ORGANIZATION'S BOARD OF DIRECTORS ARE REGULARLY AND CONSISTENTLY MONITORING AND ENFORCING IT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DETERMINES COMPENSATION OF ITS CEO, OFFICERS AND KEY EMPLOYEES BY COMPARISONS TO COMPENSATION LEVELS FOR SIMILAR POSITIONS AT OTHER MUSEUMS/NON-PROFIT ORGANIZATIONS WITH COMPARABLE BUDGETS AND SCOPE OF OPERATIONS. IN CONNECTION WITH THE CEO'S MOST RECENT CONTRACT, THE ORGANIZATION RECEIVED AN OPINION DESIGNED TO MEET IRS REQUIREMENTS FROM AN INDEPENDENT COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL SEND DOCUMENTS ELECTRONICALLY IF REQUESTED. PHOTOCOPIES WILL BE MADE UPON REQUEST FOR A SMALL FEE TO COVER COSTS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 62,843. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR THE OVERSIGHT AND REVIEW OF THE FINANCIAL STATEMENTS AND THE SELECTION OF THE INDEPENDENT AUDITOR.