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ObjectId: 202202249349301675 - Submission: 2022-08-12
TIN: 53-0206027
SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
Attach to Form 990.
Go to
www.irs.gov/Form990
for instructions and the latest information.
OMB No. 1545-0047
20
20
Open to Public Inspection
Name of the organization
SMITHSONIAN INSTITUTION
Employer identification number
53-0206027
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts.
Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a)
Donor advised funds
(b)
Funds and other accounts
1
Total number at end of year
.........
2
Aggregate value of contributions to (during year)
3
Aggregate value of grants from (during year)
4
Aggregate value at end of year
........
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control?
............
Yes
No
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit?
...................................
Yes
No
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
Preservation of land for public use (e.g., recreation or education)
Preservation of an historically important land area
Protection of natural habitat
Preservation of a certified historic structure
Preservation of open space
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a
Total number of conservation easements
......................
2a
1
b
Total acreage restricted by conservation easements
....................
2b
88.25
c
Number of conservation easements on a certified historic structure included in (a)
.....
2c
d
Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register
...
2d
0
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year
0
4
Number of states where property subject to conservation easement is located
1
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds?
............
Yes
No
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
$
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)?
.............................
Yes
No
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1
.........................
$
(ii)
Assets included in Form 990, Part X
...............................
$
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1
..........................
$
b
Assets included in Form 990, Part X
...............................
$
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2020
Page 2
Schedule D (Form 990) 2020
Page
2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets
(continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
Public exhibition
d
Loan or exchange programs
b
Scholarly research
e
Other
c
Preservation for future generations
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?
...
Yes
No
Part IV
Escrow and Custodial Arrangements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X?
....................................
Yes
No
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c
Beginning balance
.............................
1c
d
Additions during the year
............................
1d
e
Distributions during the year
..........................
1e
f
Ending balance
................................
1f
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?
...
Yes
No
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII
....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a)
Current year
(b)
Prior year
(c)
Two years back
(d)
Three years back
(e)
Four years back
1a
Beginning of year balance
....
1,937,754,681
1,713,248,540
1,645,269,208
1,502,159,340
1,368,754,997
b
Contributions
...
50,779,878
35,816,167
36,000,996
52,445,032
42,062,815
c
Net investment earnings, gains, and losses
626,775,984
270,503,159
113,052,434
167,085,531
166,875,266
d
Grants or scholarships
...
e
Other expenditures for facilities
and programs
...
79,750,157
76,885,815
75,789,588
72,853,244
71,427,379
f
Administrative expenses
....
3,047,189
4,927,370
5,284,510
3,567,451
4,106,359
g
End of year balance
......
2,532,513,197
1,937,754,681
1,713,248,540
1,645,269,208
1,502,159,340
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment
41.300 %
b
Permanent endowment
23.430 %
c
Term endowment
35.270 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:
Yes
No
(i)
Unrelated organizations
.......................
3a(i)
No
(ii)
Related organizations
.......................
3a(ii)
No
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R?
.........
3b
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property
(a)
Cost or other basis
(investment)
(b)
Cost or other basis (other)
(c)
Accumulated depreciation
(d)
Book value
1a
Land
.....
32,818,456
32,818,456
b
Buildings
....
4,283,965,354
2,309,386,140
1,974,579,214
c
Leasehold improvements
132,998,684
91,097,356
41,901,328
d
Equipment
....
454,313,772
367,232,609
87,081,163
e
Other
.....
631,918,996
631,918,996
Total.
Add lines 1a through 1e.
(Column (d) must equal Form 990, Part X, column (B), line 10(c).)
..
2,768,299,157
Schedule D (Form 990) 2020
Page 3
Schedule D (Form 990) 2020
Page
3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b.
See Form 990, Part X, line 12.
(a)
Description of security or category
(including name of security)
(b)
Book value
(c)
Method of valuation:
Cost or end-of-year market value
(1)
Financial derivatives
.........
(2)
Closely-held equity interests
........
(3)
Other
(A)
SECURITIES-ENDOWMENT CONSOLIDATED
2,505,394,087
F
(B)
SECURITIES-SHORT-TERM
274,924,929
F
(C)
SECURITIES-GIFT ANNUITY PROGRAM
27,237,852
F
(D)
SECURITIES-ACCRUED ENDOWMENT
25,769,642
F
(E)
SECURITIES-ENDOWMENT US TREAS
998,750
F
(F)
ACCRUED INTEREST-CONSOLIDATED
-17,096
F
(G)
(H)
(I)
Total.
(Column (b) must equal Form 990, Part X, col. (B) line 12.)
2,834,308,164
Part VIII
Investments - Program Related.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c.
See Form 990, Part X, line 13.
(a)
Description of investment
(b)
Book value
(c)
Method of valuation:
Cost or end-of-year market value
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 13.)
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d.
See Form 990, Part X, line 15.
(a)
Description
(b)
Book value
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 15.)
...........
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f.
See Form 990, Part X, line 25.
1.
(a)
Description of liability
(b)
Book value
(1)
Federal income taxes
(4)
(5)
(6)
(7)
(8)
(9)
Total.
(Column (b) must equal Form 990, Part X, col.(B) line 25.)
47,720,399
2.
Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2020
Page 4
Schedule D (Form 990) 2020
Page
4
Part XI
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1
Total revenue, gains, and other support per audited financial statements
.......
1
2,394,103,142
2
Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a
Net unrealized gains (losses) on investments
....
2a
477,058,901
b
Donated services and use of facilities
.........
2b
9,232,489
c
Recoveries of prior year grants
...........
2c
d
Other (Describe in Part XIII.)
............
2d
100,404,869
e
Add lines
2a
through
2d
.....................
2e
586,696,259
3
Subtract line
2e
from line
1
..................
3
1,807,406,883
4
Amounts included on Form 990, Part VIII, line 12, but not on line
1
:
a
Investment expenses not included on Form 990, Part VIII, line 7b
.
4a
3,234,653
b
Other (Describe in Part XIII.)
...........
4b
-5,877,553
c
Add lines
4a
and
4b
....................
4c
-2,642,900
5
Total revenue. Add lines
3
and
4c.
(This must equal Form 990, Part I, line 12.)
......
5
1,804,763,983
Part XII
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1
Total expenses and losses per audited financial statements
...........
1
1,535,119,485
2
Amounts included on line 1 but not on Form 990, Part IX, line 25:
a
Donated services and use of facilities
.........
2a
9,232,489
b
Prior year adjustments
............
2b
c
Other losses
................
2c
d
Other (Describe in Part XIII.)
............
2d
e
Add lines
2a
through
2d
....................
2e
9,232,489
3
Subtract line
2e
from line
1
...................
3
1,525,886,996
4
Amounts included on Form 990, Part IX, line 25, but not on line
1:
a
Investment expenses not included on Form 990, Part VIII, line 7b
..
4a
3,234,653
b
Other (Describe in Part XIII.)
............
4b
-113,001,511
c
Add lines
4a
and
4b
.....................
4c
-109,766,858
5
Total expenses. Add lines
3
and
4c.
(This must equal Form 990, Part I, line 18.)
......
5
1,416,120,138
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference
Explanation
PART II, LINE 3:
SMITHSONIAN INSTITUTION DID NOT MODIFY, TRANSFER, RELEASE, EXTINGUISH OR TERMINATE ANY CONSERVATION EASEMENTS DURING THE YEAR. PART II, LINE 6: THE SMITHSONIAN ENVIRONMENTAL RESEARCH CENTER (SERC) IS LOCATED ON 2,650 ACRES OF LAND ON THE CHESAPEAKE BAY IN SOUTHERN MARYLAND SPANNING FORESTS, WETLANDS, MARSHES, AND 12 MILES OF PROTECTED SHORELINE. THE SITE SERVES AS A NATURAL LABORATORY FOR LONG-TERM AND CUTTING-EDGE ECOLOGICAL RESEARCH. THE SMITHSONIAN HAS A CONSERVATION EASEMENT ASSOCIATED WITH PROPERTY THAT IS IMMEDIATELY ADJACENT TO SERC LAND OWNED BY THE INSTITUTION. FACILITIES AND SECURITY STAFF VISIT THE AREA REGULARLY, AND ARE THUS ABLE TO REPORT ANY UNUSUAL ACTIVITY ON THE LAND SUBJECT TO THE EASEMENT. THE ORGANIZATION DOES NOT SEPARATELY TRACK THE HOURS AND EXPENSES ASSOCIATED WITH MONITORING THE PROPERTY RELATED TO THE EASEMENT.
PART II, LINE 9:
THE SMITHSONIAN INSTITUTION'S CONSERVATION EASEMENT DOES NOT APPEAR IN THE INSTITUTION'S AUDITED FINANCIAL STATEMENTS.
PART III, LINE 1A:
IN CONFORMITY WITH THE PRACTICE GENERALLY FOLLOWED BY MUSEUMS, NO VALUE IS ASSIGNED TO THE COLLECTIONS IN THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECOGNIZED AS REDUCTIONS IN NET ASSETS WITHOUT DONOR RESTRICTION IN THE PERIOD OF ACQUISITION. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES FOR LOST OR DESTROYED COLLECTION ITEMS ARE RECOGNIZED AS INCREASES IN THE APPROPRIATE NET ASSET CLASS AND ARE DESIGNATED FOR FUTURE COLLECTION ACQUISITIONS, CARE, AND MAINTENANCE.
PART III, LINE 4:
THE ACQUISITION, PRESERVATION, MANAGEMENT, AND STUDY OF COLLECTIONS ARE FUNDAMENTAL TO THE SMITHSONIAN'S MISSION TO INCREASE AND DIFFUSE KNOWLEDGE AND HAVE BEEN THE FOUNDATION UPON WHICH IT RESTS. SMITHSONIAN COLLECTIONS ARE A NATIONAL AND GLOBAL RESOURCE ACCESSED EACH YEAR BY MILLIONS OF VISITORS AND RESEARCHERS WHO USE TRADITIONAL METHODS AND CUTTING-EDGE TECHNOLOGIES TO EXPLORE SUBJECTS FROM AERONAUTICS TO ZOOLOGY. THROUGH ITS COLLECTIONS, THE SMITHSONIAN PRESENTS THE ASTONISHING RECORD OF AMERICAN AND INTERNATIONAL ARTISTIC, HISTORICAL, CULTURAL, AND SCIENTIFIC ACHIEVEMENT, WITH A SCOPE AND DEPTH NO OTHER INSTITUTION IN THE WORLD CAN MATCH. SMITHSONIAN COLLECTIONS CONTRIBUTE TO POPULATION RECOVERY OF ENDANGERED SPECIES, ADVANCES IN REPRODUCTIVE BIOLOGY, GENOME RESOURCE BANKING, MEDICAL RESEARCH, FORENSIC ANALYSIS, BIO-SECURITY, AND CONSERVATION POLICY WORLDWIDE. ASSEMBLED OVER MORE THAN 175 YEARS, THE COLLECTIONS ARE CENTRAL TO THE CORE ACTIVITIES AND TO THE VITALITY AND SIGNIFICANCE OF THE SMITHSONIAN.
PART V, LINE 4:
THE ENDOWMENT INCLUDES APPROXIMATELY 700 INDIVIDUAL ENDOWMENT FUNDS. THE ENDOWMENT PROVIDES STABLE FINANCIAL SUPPORT FOR SCHOLARSHIP, RESEARCH ACTIVITIES, OTHER PROGRAMS, ACQUISITIONS OF COLLECTIONS AND OTHER INSTITUTIONAL ACTIVITIES. IT PLAYS A CRITICAL ROLE IN ENABLING THE INSTITUTION TO ACHIEVE ITS MISSION - "THE INCREASE AND DIFFUSION OF KNOWLEDGE." THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF REGENTS TO FUNCTION AS ENDOWMENTS. CLASSIFICATION AND REPORTING OF NET ASSETS ASSOCIATED WITH THE ENDOWMENT REFLECT DONOR-IMPOSED RESTRICTIONS.
PART X, LINE 2:
FIN 48 (ASC 740) FOOTNOTE THE SMITHSONIAN RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. THE SMITHSONIAN DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS.
PART XI, LINE 2D - OTHER ADJUSTMENTS:
IMPUTED REVENUE 107,123,958. GAIN ON SALE OF REAL ESTATE 373,807. CHANGES IN NET OTHER ASSET OF RELATED ORG -7,092,896.
PART XI, LINE 4B - OTHER ADJUSTMENTS:
DIRECT FUNDRAISING EXP -169,183. DIRECT EXPENSES COGS -5,708,370.
PART XII, LINE 4B - OTHER ADJUSTMENTS:
IMPUTED REVENUE -107,123,958. DIRECT FUNDRAISING EXP -169,183. DIRECT EXPENSES COGS -5,708,370.
Schedule D (Form 990) 2020
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