An Examination of the Smithsonian Institution Form 990
The Smithsonian Institution, the largest museum in the world was established in 1846 and houses some of the world’s greatest wonders. The Smithsonian has a number of gallery’s, museums, and zoos, including the national zoo, all located in Washington D.C. It also consists of a wide diversity of research centers located throughout the country. The Smithsonian’s mission is for the increase and diffusion of knowledge. It is important that this organization continues to be successful so that it can continue to research, collect, and showcase the wonders of the world.
The purpose of this paper is to examine the Smithsonian Institution’s form 990 and to evaluate the institutions financial successes/failures in 2013. There will also be a brief summary of the company’s 2013 finances in comparison to its 2012 finances. A few of the categories that will be examined in the Smithsonian Institution’s form 990 include: IRS filings and tax compliance, compensation, statement of revenue, statement of functional expenses, balance sheet, financial statements, and compensation information.
The Smithsonian Institution is a great resource and opportunity for anyone that is interested in many of the world’s greatest wonders. It is important to review a non-profit organizations form 990 in order to see if the company is being profitable, how it is allocating its assets, whether it is likely to continue being successful and whether it is an organization worth donating money towards. This paper will help to answer these questions and provide valuable information that demonstrates the ongoing success of one of the most famous and exciting non-profit organizations in existence.
ACTG 470 Accounting for Non-Profit Organizations
Stacey Lewis
P103
1 – 3 PM