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Capitalization of Collections

The Alliance has compiled this set of collections capitalization resources from throughout the nonprofit and museum sector.

AAMD Policy on Deaccessioning

This policy on deaccessioning from the Association of Art Museum Directors (AAMD) defines deaccessioning and covers recommendations for use of proceeds from the sale of deaccessioned objects – “directors of member museums should not capitalize or collateralize collections or recognize as revenue the value of donated works” (amended 10/2015).

Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments

The Governmental Accounting Standards Board (GASB) offers information about Statement 34, which establishes new financial reporting requirements for state and local governments throughout the United States.

The Capitalization of Collections Ethics Position Paper #1

The AASLH provides its position paper on the capitalization of collections in which they assert that collections should not be considered financial assets.

Statement of Financial Accounting Standards No. 116

The Financial Accounting Standards Board (FASB) provides the full Accounting for Contributions Received and Contributions Made statement. (PDF, 18 pages)

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