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Report of tbe Treasurer

INDEPENDENT AUDITORS' REPORT

The CouncilAmerican Anliquarian Society

We have audited the accompanying statements of financial position of the American Antiquarian Society (the"Society") as of August 31, 2Û0S and 2007. and the related statements of activities and cash flows for Üie years thenended. These financial statements are the responsibility of tlie Society's management Our responsibility is to expressan opinion on Ihese financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted in the Utiited States of America andthe .standards applicable to fmancial audits contained in Government Audiling Standards, issued by the ComptrollerGeneral of the Umted States. Those standards require that we plan and perfoim the audit to obtain reasonableassurance about whether the financial statements are free ofmaterial misstatemenL An audit includes examinuig. on atest basis, evidence supporting the amounts and disclosures in (he financial statements. An audit also includesassessing the accounting principles used and signifLcant estimates made by management, as well as evaluating theoverall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion

In our opmion. the financial statements referred to above present fairly, in all material respects, the financial position ofthe Society as of August 31, 2008 and 2007, and the results of its activities and its cashflows for the yearî then ended,in conformity with accounting principles generally accepted in the United States of America.

In accordance with Government Auditing Standards, we have also issued otir report dated October 20, 2008 on ourconsideration of the Society*s internal control over financial reporting and our tests of its coitiphance with certainprovisions of laws, regulations, contracts and grant agreements, and other matters. The purpose of that report is todescribe the scope of our testing of internal control over fmancial reporting and compliance and the results of thattesting, and not to provide an opitiion on the internal control over financial reporting or on compliance That report isan integral part of an audit performed in accordance with Government Auditing Standards and should be considered inassessmg the results of our audits.

Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. Thesupplemental schedule is presented for purposes of additional analysis and is not a required part of the basic financialstatements. The supplemental schedule has been subjected to the auditing procedjres applied in the audits of the basicfinancial statements and, in our opinioa is fairly stated in all material respects in relation to those basic financialstatements taken as a whole.

Worcester, Massachuset

October 20. 2008

207

2O8 American Antiquarian Society

AMERICAN ANTIQUARIAN SOCIETY

STATEMENTS OF FINANQAL POSITION

AUGUST 31, 2008 AND 2007

General Plant

Fund Fund

Cash and cash equivalents

Pledgee receivable, net

Grants and other receivables

Prepaid e

7,C5S312.01660,131

$ 2,834,435 î 2,036,16963,157 S2,I01

312,016 276,49860,151 60,535

Total current assets

Long-term pledges receivable, net

Property, plant, and equipment, net

Investments

Deposits with banl: trustee

Other asset

Due from (to) other firnda

3,203,660

10,417

1,009,206

2,166,357

9,271,104

1,619,398

(3.381.219)

56,099

49,370,142

1,214,862

3,259,759

10,417

9,271,104

50,379,348

1,619,398

2,455,303

22,917

9,330,841

54,611,367

1,983,465

26,250

Liabilities and Net Assets

Current liabilities

Current maturities of long-tenn debt

Accounts payable, trade

Accrued and other liabilities

Total current liabilities

LfO ng-tei i IL debt, less current maturities

60,001

64,729

120,001 S 93,333

64,729 175,586

44,580 238,768

Unrestricted

Temporarily rt

Permanently rt

Total net assets

2,943,842 4,888.325 1,477,016 9,309.183 10,023,559

3,036,483 490,247 29,599.424 33,126,154 36,205,736

19,564,663 19.403,401

Report of the Treasurer 209

AMERICAN ANTIQUAEIAN SOCIETY

STATEMENTS OF ACTIVITIES

YEARS ENDED AUGUST 31, 2008 AND 2007

angœ in unrestricted net assds

Revamp ^ins , and cttia-açpoit

CotttributioiB, gifts, giarts

library and acadaric

Cdledi

Siçpoiting;

rt office

Tool

Charges in t a ipxad ly restricted n a assds

Ccntribuliciis, gfls, giarts

Iiwestireil rSum

AiKÜiay aiivitiœ

ÍM a s s ^ rdeEsed fiomrestncticns

IrKiEase((kCTease)intaTçotailyrÊStridedna a

Oerges inpairmently restdcted nrt assets

CfcnliibutiorB, glib, gjantB

Increase in pamanentíy restricted net assds

Inoe^e (decrease) innet assas

Nd assas, bf^nmrg of year

Hart

Raid

Endowment

Fluid

$ 146.150 $ 1,233,015119,057 297,070

U31.345 1,460.581

Z429,618 2,713,521

635,715

318.67.1

193,193

2.S62

4,119.180 3.940.075

557,-î86 803.092

828,508 542,472

321.537 202.092

63362

244,057

292,014)

1,098,563

(1,992,584)

244,057

29,618,

(3,079.582)

914.598

9,001.415

1,S32:2.713,821)

• 161.262 161,262 163,200

30,9^ (514.928) (3,948,755) (3,632,696) 7,242,693

S 5,SeO325 S 5.378.572 £50.641,103 £a,000.CO0 $65.632,696

See accompanying noi

American Antiquarian Society


STATEMENTS OF CASH FLOWS

YEARS ENDED AUGUST 31, 2008 AND 2007

Cash flows from operating activities:(Decrease) increase In net assetsAdjustments to reconcäe decrease in net assets to net cash

provided by (used in) operating activities:Depreciation and amortizationNet investment losses (gains)Financed collection purchasesContributions restricted for:

Long-term mvestrnent(Increase) decrease in operating assets:

Pledges receivable, netGrants and other receivablesPrepaid expenses

Increase in operating liabilities:Accounts payable, tradeAccrued and other Habilities

Total adjustments

Net cash provided by operating activities

Cash flows from investing activities;Proceeds from sales and maturities of investmentsPayments for purchases of investmentsExpenditures for property, plant, and equipment(Decrease) increase in other asset

Net cash (used in) provided by investing activities

Cash flows from financing activities.Payments of long-term debtProceeds from issuance of long-term debtContributions restricted for:

Long-term investmentExpenditures for capital improvements

Change in deposits with bank trustee

Net cash provided by (used in) financing activitiei

Net increase in cash and cash equivalents

Cash and cash equivalents, beginning of year

Cash and cash equivalents, end of year

Supplemental disclosures of cash flow information:Cash paid during the year for:

S (3,032,096)

273,^915,382,888

100,006

(101,262)

31,H4(35,518)

384

(110,857)(19^.188)

5,2B

Report of the Treasurer


NOTES TO FINANCIAL STATEMENTS

1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLiaES

The American Antiquarian Sociely (the "Society") supports and maintains a research library ofAmerican history and culture. The Society collects, organizes, preserves, and makes available for use printed andmanuscript matenals dating principally from 1639 to 1S76. In addition, the Society provides educational programs,offers research fellowships, and produces scholarly publications.

Method of accounting

The financial statements of the Society have been prepared on the accrual basis of accounting.Accordingly, assets are recorded when the Society obtains the rights of ownership or is entitled to claims forreceipt, and liabilities are recorded when the obligation is incurred.

The preparation of financial statements in conformity with accounting principles generally acceptedin the United States of America requires management to make estimates and assumptions that affect the reportedamounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financialstatements and the reported amounts of revenue and expenses. Actual results could differ from those estimates.

Financial statement presentation

The Society presents infonnation regarding its financial position and activities according to threecategories of funds described as follows:

General fund - Resources principally for the general operations of the Socie^.

Plant fund - Resources of a property, plant, and capital equipment nature, as well as resources reservedfor the acquisitions of such assets.

Endowment fund - Resources that are subject either to external donor imposed restrictions or to internaldesignations imposed by the Society's governing board, requiring that principal be invested, and spendingof income and gains be subject to a prudent spending niie. Accumulated appreciation from ftinds sorestricted or designated are also included in the endowment fund

The Society additionally presents information regarding its financial position and activities accordingto three classifications of net assets descnbed as follows:

Unrestricted - All resources over which the governing board has discretionary control. The governingboard of the Society may elect to designate such resources for specific purposes. This designation may beremoved at the board's discretion.

Temporarilv Restnctcd - Resources accumulated through donations or grants for specific operating or capitalpurposes. Such resources will become unrestricted when the requirements of the donor or grantee have beensatisfied through expendiHire for the specified purpose or program or through the passage of time.

Permanentlv Restricted - Endowment resources accumulated through donations or grants that are subjectto the restriction in perpetuity that the principal be invested. Investment income and appreciation may beeither an unrestricted or temporarily restncted resource when eamed, determined according to the giftinstruments and relevant state law.



NOTES TO FINANCIAL STATEMENTS(Continued)

1 - SUMMARY OF SIGNmCANT AOCOUNTING POLIQES (Continued)

Cash and cash cgmvalcnts

Forpiuposes of these financial statements, the Society considers all unrestricted money tnarket fundsand highly liquid debt instruments with original maturities of three months or less to be cash equivalents.

The Society tnaintains its cash in bank deposit accounts which, at times, may exceed federallyinsured limits. The Society has not experienced any losses in such accounts. The Socie^ believes it is not exposedto any significant credit risk on cash and cash equivalents.

Pledges receivable

Unconditional promises to give that are expected to be collected within one year are recorded at theirnet realizable value. Unconditional promises to give that are eiqDected to be collected in future years are recorded atthe present value of estimated future cash flows. The discounts on those amounts are computed using a risk freeinterest rate applicable to the year in which the promise is received. Accretion of the discount is included mcontributions and gifts revenue. Conditional promises to give are not included as support until such tinne as theconditions are substantially met.

Property, plant and equipment

Property, plant, and equipment are carried at cost or at fair value as of the date of the gift.Depreciation is computed using slraight-iine and accelerated methods.

Investments

Investments in equity securities with readily detenninable fair values and all debt securities arereported at fair value. Any altemative investments which are not readily marketable are carried at estimated fairvalues as provided by the investment managers. The Society reviews and evaluates the values provided by theinvestment managers and agrees with the valtiation methods and assumptions used in determining the fair value ofthe altemative investments. Those estimated fair values may differ significantly from the values that would havebeen used had a ready market for these securities extsted.

Gams or losses on mvestments are reported in the statement of activities as increases or decreases inunrestricted net assets unless their use is temporarily or permanently restricted by explicit donor stiptilations or bylaw

Investment income is recorded in unrestricted assets tmless its use is temporarily or permanentlyrestricted by law or explicit donor stipulations.

State law has been interpreted to require that, unless explicitly stated otherwise by the donor, realizedand unrealized appreciation on permanently restricted assets should be classified in a restricted net assetclassification until appropnated for tise by the governing board Accordingly, based on the terms of the underlyinggift instruments, net investment gains and losses of the Society are classified as temporarily restricted Thegoverning board annually establishes a spending rate from a total investment retum to support current operations.To the extent that investment income does not provide this level of support, net investment gains are appropriatedfor operations

Deposits with bank trustee

Deposits with bank trustee are reported at fair value. Gains and losses on deposits with bank trusteeare reported in the statement of activities as increases or decreases in unrestricted net assets.

Repon of the Treasurer 213

AMERICAN ANTIQUAJÍIAN SOCIETY


1 - SUMMARY OF SIGNIFICANT ACCOUNTING TOLIQES (Continued)

Bond issuance costs

Bond issuance costs represent fees and other costs associated with obtatning long-term finiStjch costs are being amortized on a straight-line basis over the tenns of the financing.

As allowed hy accounting principles generally accepted in the United States of America andfollowing the practices of many libranes and museums, the Society has not capitalized Its collection of items ofhistorical nature and other related objects purchased or donated. The collection is held for public education orresearch in furtherance of public service rather than financial gain. The Society continually reviews its collectionand may deaccess or acquire additional items. Expenditures for additional collection items are presented as areduction in the appropriate class of net assets.

Contributions, gifts, grants

Contributions received are recorded as unrestricted, temporarily restricted, or permanently restrictedsupport depending on the existence and nature of any donor restrictions. Contributions may include actual gifts orpromises to give. Such contributions are considered to be available for unrestricted use unless specificallyrestricted by the donor or grantor. Contribution of assets other than cash are recorded at their fair value on the dateof the gift Gifts of long-lived assets are reported as unrestncted support, unless specifically restricted by the donor.Time restnctions on gins of long-lived assets, if any. expire when the assets are acquired Restricted gifts orpromises to give are required to be reported as restncted support in the period received and are then reclassified tounrestricted net assets upon satisfaction of the donor restriction.

Functional expenses

The expenses mcuned to provide fte various programs and other activities of the Socie^ have beensummanzed on a functional basis in the statement of activities. Accordingly, certain costs have been allocated tothe programs and supporting services benefited.

2 - PLEDGES RECEIVABLE

Payments of pledges as of AL^ust31, 2(X)8 are expected to be received as follows:

20092010

Less: Allowance for uncollectible pledgesUnamortized discount

s

12,500

81,9446,2872,083

73,574

2 1 4 American Antiquarian Society



3 - PROPERTY. PLANT. AND EQUIPMENT

Property, plant, and equipment, together with estimated usefui Uves, consists of the following:

Estimated

Land, buildings, and impro>EquipmentConstruction in progress

Less: Accumulated depreciation and amortization

Depreciation and amortizatio

2008

10- 39 years5 - 6 years

S 11,665.6701,290.299

318,631

13,274,6004,003.496

S 11,665,6701,275.694

119.482

13,060.8463.730.005

S 9,271.104 $ 9.330.841

IS $273.491 and $281.821 in 2008 and 2007. respectively.

4 - DIVESTMENTS

Investments are included in the following classes of net a;

UnrestrictedTemporarily restrictedPennanently restricted

InVÊStments are

Mutual fundsFixed incomeEquity

Corporate stocksPooled fundsDebt securitiesMoney market funds

composed of the follov

20CCarrying

$ 6,906,17130,344,0884,500,0854,152,9971,553,1281,127,800

$ 48,584,269

vmg:

18Fair

Value

$ 6,973,82731,265,1994,806,3384,653,0561,553,1281,127,800

S 50,379,348

I 2,553,60728,304,88319,520,858

J 50,379,348

CanningValue

28,115,5435,192,9423,639,4961,553,1281,364,677

$ 47,193,812

S

J

2007

S

$

2,633,53732,618,53519,359,295

54,611,367

FairValue

7,263,19033,442,7206,432,3274,555,3251,553,1281,364,677

54,611,367


AMERICAN ANTIQUARIAN SOQETY

NOTES TO FINANCLAL STATEN-ENTS(Continued)

i (Continued)

The following tabulation summ ; the relationship hetween canying >

Balance, August 31, 2008

Balance, August 31, 2007

Net unrealized investment losses

Net realized investment gains

Net investirent losses for the year

Investment return is reflected in the financial statements as folii

CarryingValue

$ 48,584,269

$ 47,193,812

FairValue

S 50,379,348

S 54,611,367

NetInvestment

Gains (Losses)

$ 1,795,079

7,417,555

(5,622,476)

239,588

$ (5,382 888)

UnrestrictedTemporarily restrictedPermanently restricted

Interestand

Dividends

$ 37S.9593,130,402

NetRealized

Investment

$ 23,650215,938

NetUnrealizedInvestment

Losses

$ (283,552)(5,338,924)

S 119,057(1,992,584)

As discussed in Note 1. the Society's investinents are reported at fair value. Market value in theinvestment markets has been volatile since August 31, 2008, As a result, the fair value of the Sociefy's investmentportfolio subsequent to Augtist 31, 200S 13 substantially lower than amounts reported at August 31, 2008.

5 - DEPOSITS WITH BANK TRUSTEE

The Socie^'s bonds payable indentures require the maintenance of restricted construction and debtservice reserves and replacement funds on deposit with a bank trustee. Deposits with hank trustee are held invariotis escrow accounts and are available for the following purposes:

Properly, plant, and equipment improvements and acquisitionFuture debt service

S 1,363,552255,846

S 1,745,195238.270

$ 1,619,398 S 1,983.465

Deposits with bank trustee are carried at fair value, and are composed of the following:

Cash and cash equivalents

2 l 6 American Antiquarian Society



6 - LONG-TERM DEBT

Long-term debt c sists of the following:

Bonds payable, secured by deposits with bank trustee, due in varyingannual principal instaUments ranging between S60,000 and $237,004,plus monthly interest installments at variable rates (4.57% as of August31, 200S) through June 2023.

Note payable, other, secured by newspaper collection, due in quarterlyprincipal installments of $8,333 without interest, through July 2Û13.

Note payable, other, secured by newspaper collection, due in quarterlyprincipal installments of $6,667 without interest, through July 2013

Less: CuiTentmatuntiesof long-terni debt

Maturities of long-term debt in s

Year Ended August 31

20092010201120122013

Thereafter

lent years are as follows;

$

$

2,130,711

166,666

133,340

2,430,717

120,001

2,310,716

$

$

2,183.093

200,000

2,383.093

93,333

2,289,760

The bonds payable require, among other considerations, the maintenar

7 - RESTRICTED NET ASSETS

Temporarily restricted net assets a ailable for the foOo

Appreciation on permanently restricted net aappropriation under the spending rule

Expenditures for program activitiesExpenditures for capital improvements




7 - RESTRICTED NET ASSETS (Continued)

Net assets were released from temporary donor restrictions by incurring expírestricted purpose or by occurrence of other events specified by donors as follows:

Investment retum designated for current operatioExpenditures for program activities

S 2,137,604292,014

s satisfying the

2007

$ 1.995,912717,909

Permanently restricted net a

Investment in perpetuify, the income and appreciation from which isexpendable to support any activities of the Society S 3,367,717

Investment m perpetuity, the income and appreciation from which isexpendable to support specified program activities of the Society 16,196,946

8 - RETIREMENT PLAN

The Society has a defined contribution pension plan which covers all eligible employees. The Plan isfunded on a ciurent basis and is administered by Teachers Insurance Annuity Association - College Retirement

rTTAA..n?nFi Rptirpmpnt ninn e.xnp.nsa was S145.461 and S134.534 in 2008 and 2007.funded on a ciurent basis and is administered byEquities Fund (TIAA-CREF). Retirement plarespectively.

;xpenst

9 - TAX-EXEMPT STATUS

The Socie^ qualifies as a tax-exempt not-for-profit organization under Section 501(c)(3) of theInternal Revenue Code. Accordingly, no provision for income tax is required.

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DONORS OF MONIESSepte7?iber 1, 2007-August 31, 2008

SSOMOandover

George I. Alden TrustGreater Worcester Community

Foundation, Inc.Estate of Russell W. KnightSidney and Ruth Lapidus

Estate of Kenneth G. LeachThe Andrew W. Mellon FoundationWilliam S. ReeseEstate of NataheJ. Roderick

$25,000.00—$49,999.99AnonymousThe Berkley FoundationJuhan L. & Linda F. Lapides

Sidney and Ruth LapidusMassachusetts Cultural CouncilMargaret E. Sherman Trust

$10,000.00—$24,999.99

Mr. and Mrs. John Jeppson 2ndMr. and Mrs. Jay T. LastThe New York Times Company

Foundation, Inc.

David M. RumseyWilliam J. McKee Tmst

Jeanne Y. CurtisRichard A. Heald FundJudith Godfrey Labadie

$S,000.00—$9,999.99

C. Jean and Myles McDonoughRockwell Foundation

$2,500.00^$4,999.99

Charles B. BarlowMr. and Mrs. Karl L. BrielRuth H. & Warren A. Ellsworth

FoundationWarner and Mary FletcherJohn and Lea HenchCheryl Hurley

Mr. and Mrs. John M. KeenumMr. and Mrs. Bruce Anthony KingJayLKislakLutco, Inc.Mr. and Mrs. Thomas P. McDermottMr. and Mrs. Harold T MillerMr. and Mrs. William O. Pettit, Jr.


Wúlmm. Reese Company-Charles E. SigetyMr. and Mrs. John C. Stowe

Mr. and Mrs. William O. TaylorDr. and Mrs. Daniel G. TearMr. and Mrs. Peter H. Williams

$1,000.00—$2,499.99

Mr. and Mrs. John W. AdamsAmerican Historical Print Collectors

Society-Anonymous (4)Antiquarian Booksellers Assn. of

America-NE ChapterBlanca ArndtBank of AmericaMr. and Mrs. James H. BarnhillMr. and Mrs. Robert C. BaronMr. and Mrs. Philip C. Beals"Terry BelangerBailey BishopJohn R. BlockGeorge F. Booth IISheila BoteinMr. and Mrs. Q. David BowersMr. and Mrs. Gordon L. BrekusRichard D. and Irene Q. BrownRichard H. Brown and Mary Jo OtseaJill K. ConwayMr. and Mrs. William C. CookWilliam M. and Prudence S. CrozierMr. and Mrs. David F. DaltonCornelia Hughes DaytonMr. and Mrs. Richard W. DearbornAmey DeFriezMr. and Mrs. Henry B. DeweyJane M. DeweyMr. and Mrs. James C. Donnelly, Jr.Peter T. DumaíneEllen S. Dunlap and Frank ArmstrongFiduciary Charitable FoxmdationDonald FlemingMr. and Mrs. Timothy C. Forbes

Richard Wightman FoxMr. and Mrs. Louis A. GoodmanRobert A. GrossPamela K. HarerFrancis & Jacquelyn Harrington

FoundationFrank L. Harrington, Jr.Leland M. Hawes, Jr.Mr. and Mrs. James N. Heald 2ndWilliam H. HelfandJohn Herron, Jr. and Julia MooreDiana E. and John E. HerzogElizabeth B. JohnsonDaniel S. and Susan S.JonesStuart E. KamKathryn Conway Preyer Charitable

Lead TrustMaureen and William KelleherWlson H. KimnachThomas G. and Lucia Z. KnolesThe Samuel H. Kress FoundationNorman B. LeventhalKent P. LjungquistPolly O. and Charles R. LongsworthJohn W LundWeyman L Lundquist and Kathryn E

TaylorJohn M. McClelland Foundati^Mr. and Mrs. Neil McDonoughMildred H. McEvoy EoundationJ. Robert MaguireMr. and Mrs. Richard E. MarriottMr. and Ms. Donald R. MelvilleMr. and Mrs. Paul S. MorganMr. and Mrs. Richard P. Morgan

Report of the Treasurer 2 2 1Nancy Peery Marriott FoundationJames W. Needham and Florence

FearringtonDr. and Mrs. Donald R NelsonMr. and Mrs. John M. NelsonNew England Book AuctionsNortheast Modem Language

AssociationDr. and Mrs. Joseph C. OakleyJeremy F. O'ConnellMartha and Arthur M. Pappas, M. D.Mr. and Mrs. Stephen PitcherRobert O. PreyerAdr. and Mrs. Kenneth W. RendellMr. and Mrs. Rudy L. Ruggles, Jr.Lance and Melissa SchachterleMr. and Mrs. Jay T. Snider

Mr. and Mrs. William F. SullivanMr. and Mrs. Winston D. TabhCharles J. TanenbaumMr. and Mrs. George W. Tetler mThe Arts FederationThe Muriel and Norman B. Leventhal

Family Foundation, Inc.J. Thomas TouchtonMr. and Mrs. Thurston Twigg-SmithIra L. UnschuldMr. and Mrs. WiUiam B. WarrenJames A. WeluMark R. WetzelWilliam and Margaret Wheeler IIICharles B. Wood III and Mardges BaconLedlie WoolseyMichael Zinman

Charles and Sandra ArningMr. and Mrs. Bernard BailynBoston Private Value Investors

$750.00—$999.99Stanton R. CookRonald S. DavisMr. and Mrs. Gordon I. Erikson

$500.00—$149.99

Eleanor and James AdamsMr. and Mrs. Charles E BryanScott E. CasperMr. and Mrs. Alfred D. Chandler, Jr.Mr. and Mrs. Richard W CheekKenneth C. Crater and Peg FerraroMr. and Mrs. Phillips S. DavisEhzabeth DeanHelen R. and Patrick H. DeeseLinwoodM. Erskine,Jr.Robert A. FergusonMr. and Mrs. G. F. FitzgeraldMr. and Mrs. WiUiam W. EreehhngJeffrey D. Groves

John HerronHelen Lefkowitz HorowitzHelen R. KahnA'Ir. and Mrs. Warren C. Lane, Jr.Air. and Airs. David M. LesserMcCormick Tribune FoundationThomas S. MichieMatthewJ. NeedleMr. and Mrs. David P. NordMary Beth NortonPaula E. PetrikMary C. SchlosserDaniel G. SiegelAir. and Airs. Mark D. Tomasko


Mr. and Mrs. Hyla J. TracyAlden and Virginia VaughanAlbert J. von Erank

Stisan B. and David K. WbodburyVirginia Woodbury

$250.00^$499.99

Mr. and Mrs. Lawrence J. AbramoffCarolyn A. AllenMr. and Mrs. Walter H. AndersonDr. and Mrs. David L. AndrewsRodney ArmstrongWilliam P. Barlow, Jr.John E. BassettBruce S. BennettJohn BrademasMr. and Mrs. Edward G. BrandenbergerJohnE. Brooks, S J.Mr. Wesley A. BrownRichard Van Wyck BuelMr. and Mrs. Lawrence I. BnellKenneth BumsMr. and Mrs. George S. ButlerEric C. CarenChristopher E Clark and Margaret

LambEmanuel and Anna Cohen FoimdadonMorris Leo CohenJohn Y. ColeMr. and Mrs. Richard B. CollinsDonald H. CresswellJohn R. Curds, Jr.H. Martin DeranianThomas M. DoerflingerMargaret A. DrainMr. and Mrs. Robert F. ErburuKenneth W. Faig, Jr.Mr. and Mrs. Donald EarrenA^. and Mrs. Richard J. EatesMr. and Mrs. Rudy J. EavrettiJoseph J. Felcone II and Linda EelconeCatherine M. Fennelly

Dr. and Mrs. Ronald A. GabelJane N. GarrettStephen A. GoldmanJoel P. GreeneMr. and Mrs. Charles C. Haffiier IIIKathleen HaleyDavid D. HallDr. and Airs. Thomas E HalpinMr. H. DeEorest HardingeHarlowe Hardinge FoundationMr. and Mrs. Edward J. Harris, Jr.Michael D. HeastonMr. and Mrs. Richard R Houlihan, Jr.John K. HowatMr. and Mrs. William L. JoyceMr. and Mrs. Robert M. KellerLinda K. KerberMr. and Mrs. D. W KrummelWardwell C. Leonard, Jr.Arm T. Lisi and Joel P. GreeneWilliam H. LoosMolly A. McCarthyMarcus A. McCorisonDr. Ogretta V McNeilMr. and Mrs. Henry T. MichieLeonard L. MilbergEllen G. MilesGuy G. AdillerDonald N. MottThomas R. MountainRoger H. MuddMr. and Mrs. Kenneth NebenzahlJames A. NewtonGregory H. Nobles and Anne L. HarperDonald C. O'Brien

Repon of the Treasurer

Paul R. O'Coimell, Jr. and Lee AnnLatham

Stan OlinerPeter OnufWilliam B. OsgoodMr. and Mrs. Thomas P. Peardon, Jr.Ruth Ann PenkaMarlene and David PerskyNathaniel PhilbrickJonathan PrudeMr. and Ms. John E. ReillyMadeline V. ReillyMr. and Mrs. Barnes RiznikAir. and Airs. Steven RotmanSaint-Gobain Corporation FoundationCaroline F. SchimmelBarbara SichermanJames Sidbury

Mr. and Airs. Harold K. Skramstad, Jr.Susan P. SloanRobert H. Smith, Jr.The Fîonorable David H. SouterLouise L. StevensonG. Thomas TanselleThe Fossils, Inc.Mr. and Mrs. Richard P. TrainaDr. and Mrs. Robert E. TranquadaJohn W. TylerMr. and Mrs. Herbert M. VarnumMr. and Mrs. John Walsh, Jr.Barbara M. Weisberg and David BlackDavid R. WhitesellDouglas C. WilsonAir. and Airs. John M. Woolsey, 3rdWilliam R. Young III

Quincy S. and ZeUa AbbotAir. and Airs. Robert C. AchornJohn AdlerAnonymous (2)Joan H. BagleyMargareta G. BergGeorge and Margaret BilliasDr. and Airs. Richard L. BishopDavid W BlightAir. Daniel A. CohenDr. and Airs. William R. ColemanContextual ConnectionsAir. and Airs. Eairman C. CowanPatricia A. CrainAir. and Airs. Charles T CullenDr. and Mrs. Bruce CutlerGlenn C. DeMallieMr. and Mrs. William P. DensmoreKenneth R. DesautelsAir. and Airs. William F. Duncan

Mary and Richard DunnPatricia FletcherMr. and Airs. David R. GodmeAir. and Mrs. Charles GoodwinJ. Kevin GraffagninoHarvey GreenJohn GrossmanAir. and Airs. WarrenJ. HaasJeffrey HatcherErnest S. HayeckLauren B. HewesDarrell HyderFran and Howard JacobsonDrew R. McCoy and Elizabeth B.

EriedbergGloria L. MainAir. and Airs. Richard ManneyElizabeth B. MatthewsAir. and Mrs. John O. AlirickE. Jennifer and Charles Monaghan

224 American Antiquarian Society

Mr. and Mrs. Phihp R. MorganJohn M. MurrinRussell W NadeauJeanM. O'Brien-KehoeThoru and Judith PedersonRobert PetrillaJessie J. PoeschJane R. PomeroyCharles A. Rheault, Jr.Robert C. RitchieAndrew W Robertson

Marvin S. SadikJustin G. SchillerPhilip and Judith ShwachmanAnita L. SilveyMerritt R. SmithThadW.TateJr.David F. Tatham and Cleota ReedTicknor SocietyMr. and Mrs. Robert B. WheatonRichard A. WilsonMr. and Mrs. Calhoun Winton

$50.00—$199.00

William W. Abbot IIIMr. and Mrs. Bradford S. AdamsGretchen A. AdamsAir. and Mrs. Thomas R. AdamsSue AllenTerry Y.AllenCatherine AllgorMr. and Mrs. John B. AndersonJoseph L. AndrewsAnonymous (2)Joyce O. ApplebyRichard W BaileyGeorge and Marsha BallantyneWilliam N. BanksJames M. Banner, Jr.Robert L. and Kathleen D. BarberVirginia K. BartlettCharles J. BartonLynne Z. BassettJohn W and Susan M. BassickMr. and Mrs. Frederick E. Bauer, Jr.Susan S. BaughmanMary K. BealesThomas BenderMolly BergerWinfred E. BernhardAndrew R. Black

Steve BolickPatricia U. BonomiCatherine G. BorchertJohn D. BowenMr. and Mrs. Paul S. BoyerGordon C. & Lou Anne BrancheClarence M. BrooksRichard H. BrovraDr. and Airs. James BnistMichael L. BuehlerSarah L. Bums and Dennis GannonJarrel G. BurrowElizabeth BussiereMary CableJohn CaldwellAir. and Airs. Lawrence C. CaldwellRaoul F CamusAir. and Mrs. Kenneth E. CarpenterJ. R. Carr and Barbara CarrLorrayne A. CarrollJoAnn E. CastagnaArljTie S. CharlipJeffrey P. ChristensonAir. and Mrs. Charles E. ClarkDale CockrellHelen J. CollinsSamuel A. Cooke


Carol G. CormierRichard and Penelope CrawfordPeter and Donna CrawleyAbbott L. CummingsJohn C. Da SilvaPatrickJ. DaleyRussell W DaltonJames P. DankyCathy N. DavidsonMr. and Mrs. David B. DavisJanet I. DeloreyRussell J. DesimoneScott DeWolfeDennis C. Dickerson, Sr.Carolyn DikLindaJ. DochertyElaine E DohertyChandler A. DumaineChristopher Dumaine, Jr.Mrs. Bradford F. DunbarRobert R. DykstraMr. and Mrs. Kevin F. EarlyKenneth C. EbbittMarilyn S. EbbittHendrik Edelman and Antoinette KaniaMr. and Mrs. Julian I. EdisonPaulJ. FricksonRuth EvansJonathan L. FairbanksMr. and Mis. Alan M. FernHenning FernstromSteven B. FinerAllen W FletcherRonald P. FormisanoLee W. FormwaltCharles R. FoyMr. and Mrs. Donald R. FriaryMr. and Mrs. Mark W. FullerWilliam O. GardinerLynn F. GarnLoren C. Gatch

Marjorie F. GibsonNeal Ward GilbertLisa L. GitelmanGlobal ImpactDorista Jones GoldsberryMary W GoodleyChristopher Grasso and Karin WulfJames N. Green and Rosalind RemerDavid L. Greene and A. Jane McFerrinJohn C. GreeneEzra and Rivka GreenspanRivka GreenspanRussell T. GrèveMr. and Mrs. Gerald Nat GrobWerner GundersheímerPeter R. HaackMr. and Mrs. Joseph H. HaganGary L. HagenbuchJoy F. HaldmMichael G. HallKaren HalttunenEdward J. and Joyce Y. HanrahanDr. and Mrs. James B. HanshawMarion O. HarrisSharon M. HarrisWilliam R. HarrisWilliam B. and Jessica HartSteven and Catherine HarthornIra Haupt IIHugh D. HawkinsJohn S. HaydonJames A. HenrettaJoy P. HeyrmanDr. and Mrs. Donald HightHarriet P HightJonathan E. HillRebecca A. HoffbergerRonald HoffmanMr. and Mrs. Robert J. HoganJacqueline C. HorneThomas and Elizabeth Horrocks


William N. HosleyMr. and Mrs. Jolin R. Howe, Jr.David B. IngramInternational Data GroupGeneviève R. IrelandBenjamin IrvinFrederick H.JacksonGretchen K. Jareckie and Steven B.

JareckieAir. and Airs. Steven B. JareckieRicky JayEsther M.JepsonE E. JepsonNancy A. JohnsonRuth Owen JonesMr. and Airs. Daniel P. Jordan, Jr.Air. and Airs. Alichael G. KämmenNicolas KanellosMr. and Airs. John KanisMr. and Airs. Stanley N. KatzDr. and Dr. ThomasJ. KeenanMary KelleyJohn T. KellyMr. and Airs. Ralph L. KetchamDaniel D. KinleyAir. and Airs. Albert T. KlybergWilliam L. KnechtRoger P KohinSally KohlstedtRichard H. KohnDr. and Airs. Edmond M. KouryAugusta H. KresslerKarlD.KroegerJon K. KuklaKaren and Joel KuppermanBenjamin W LabareeBarbara E. LaceyHolly E. and Guy J. LacombeCarol W. LagueuxMr. and Mrs. Howard R. LamarRoger W. Lamson, Jr. and Kate Lamson

John Lancaster and Daria D'ArienzoAhenebah N. LaneChristopher W. LaneJudy L. LarsonDennis R. LaurieSuzanne LebsockAnastasios M. LeotsakosJeffrey D. LevineMr. and Mrs. Crawford LincolnMr. and Airs. Leon E LitwackKenneth A. LockridgeAir. and Airs. Stephen B. LoringJohn M. LovejoyAir. and Airs. Mason I. Lowance, Jr.Dr. Margery M. LowensCarlene D. LudlumAir. and Airs. Don McAlisterHenry N. & Mary R. McCarlAir. and Mrs. John M. McClelland, Jr.Air. and Airs. John F. McClymerBarbara B. McCorkleJohn J. McCuskerAir. and Airs. Forrest McDonaldAlichael McGiffertLeonard J. McGlynnEdward G. MacKenzieAir. and Airs. WiUiam L. McLean IIIMartha J. McNamaraRamsay MacMullenAir. and Mrs. James M. McPhersonMr. and Mrs. John Probasco

McWiUiamsJr.Ingrid J. MachAir. and Airs. Charles S. MaierThomas N. MaidBarbara MandellRussell L. Martin III and Janet K.

MartinMr. and Airs. Martin E. MartyLouis P. MasurMarina R. Matuzek

Report of the Treasiu-er 227Barbara H. Mel drumHeU MeltsnerMelvin S. Cutler Charitable EoundadonMr. and Mrs. George H. MerriamBarbara W. MerrittThe Honorable J. W. Middendorf IIMr. and Mrs. Robert L. MiddlekaufFStephen Mihm and Akela ReasonMr. and Mrs. Edmund S. MorganGordon D. MorrisonJames MuUettJoel MyersonGeorge K. NerrieArthur W. NicholsKaren NippsStephen W. NissenbaumRobert NunnemacherRobert P. NurreR B. NutdngMr. and Mrs. Richard C. NylanderBarbara B. Oberg and J. Perry Leavell, Jr.Doris NO'KeefeSusan C. OstbergJames PagterMr. and Mrs. Anthony D. M. S. PellMelissa M. PennellPeter L. Masi BooksPfizer Fotindadon Matching Gifts

ProgramThomas L. PhilbrickThe Reverend Rocco PiccolominiSally PierceJoan M. PingetonSally McLendonElizabeth G. PopeMichael R. PotaskiStephen D. PrattSally M. PromeyFrancis P. Prucha, S J.Mardn H. QuittJoan N. Radner

Ann-Cathrine and J. Douglas RappCleota Reed and David TathamMrs. Richard S. ReederAnne C. ReillyJack ReschS. Paul RevilleMr. and Mrs. James B. RhoadsLinda S. and David B. RhoadsKathleen RicciardiMarilyn E. RichardsonDaniel Richter and Sharon Ruff RichterKyle B. RobertsSeth E. RockmanJonathan Rose and Gayle DeLongRobert H. RubinMr. and Mrs. Lester SadowskyNeal SalisburyMr. and Mrs. Benigno Sanchez-EpplerMartha A. SandweissMr. and Mrs. Edward S. SawyerMarks. SchantzMr. Edwin C. SchroederMr. Gerald SchwertfegerMr. and Mrs. John D. SeelyeRenée SendllesGeorge A. SergentanisCarol Sheriff and Philip DaileaderDavids. ShieldsWilliam F ShortzKenneth F. SilvermanDavid and Martha SimmererJanice SimonMackinnon SimpsonCaroline and Robert SloatGerald K. SloctmiWalter E. SmidiAlbert B. SouthwickJoseph Peter SpangWillman SpawnIvan M. SpearDavid and Deirdre Stam


Gwendolyn H. StevensAir. and Airs. Harry S. Stout HIAir. and Airs. Donald K. StraderRichard E. SullivanSarah SutherlandFrederick C. TahkJames R. TanisTavistock BooksJames R. TedfordDonald L. ThatcherDavid L. ThomasCarrol S. TidrowRaymond A. TidrowBryant and Carolyn TollesEdwin M. TrumanAndrea J. TücherMr. and Airs. Ronnie C. TylerCarol van BerkelJohn C. Van HomeRalph D.ViceroCharles V. VilandreMr. and Airs. Maris A. VinovskisHans WaagenJanet L. WaagenWyatt R. WadeFrank J. WagnerPeter C. WaltherLaura E. Wasowicz

Mr. and Mrs. Robert M. WeirAir. and Mrs. Roger U. Wellington, Jr.James M. WellsRichard H. WendorfRichard S. West and Monica GreenNicholas and Virginia WestbrookMr. and Mrs. Edward L. WidmerWayne and Shirley TOegandRichmond D. WilliamsJames E WilmanJohn WilmerdingMr. and Airs. Douglas L. WilsonRichard G. WilsonMr. and Mrs. Alichael R. WinstonPatricia WoellmerGordon S. WoodWorcester Country ClubRobert L. WrightKarin A. Wulf and Christopher D.

GrassoAir. and Mrs. Bertram Wyatt-BrownMary E. YoungRafia M. Zafar and William J. PaulRosemarie ZagarriMary S. Zboray and Ronald J. ZborayAir. and Airs. Fred W ZinsserAudrey T Zook

Marilyn ArsemJanet M. BessetteBernardine BirchFrank BirchSari L. BitdcksGeorge N. BlanchardPaul D. BourkeThomas M. and Dorothy M. BraleyDenise G. BriggsRoy F. and Denise G. Briggs

Up to $49.99

Edward C. Browne, Jr.Erank R. CallahanAndrew CederbergMichael R. ClapperAndrienne G. ClarkJames L. ConradJean E. DanielsonNatalie Zemon DavisSarahJ. DeutschJill L. Dupree

Repon of the Treasurer 229Nathaniel C. EmensWilliam A. FarquharKrista S. FerranteMary K. FriedrichDonald E. GrahamBarbara S, HannoThomas S. HarveyWilfred H. HeckJulian HensleyGene HillsHolly VizardEhzabeth JohnsAlichele J.JohnsonCharles A. JohnstonPaul C. JonesAir. and Mrs. Arthur B. KernSara KirkJoan KnightlyJames S. LandbergJonathan C. and Allison R. LaneLarry LowenthalSarah LuriaOlive L. MakiKathleen McClintockRoger W MarbleAiichael W. MarcinowskiBridget M. MarshallMassachusetts Center for the BookScott F. MerzbachKatherine G. MeyerCharles and KayJ. MoranJames David MoranDavid MorganPatricia Mullins

David E. NarrettMr. and Mrs. Lewis A. NassikasRodney G. ObienElmerJ. O'BrienHaroldJ. OdiornePatricia L. OdiorneBrent M. OwenDorothy A. PalmgrenLeonard PanaggioSusan PikorEmilie S. PiperBetty H. PletschkeLilian RandallBenjamin ReissSeth M. RidingerCynthia B. RobertsonJohn RobertsonLaurel P. SandersonEhzabeth B. SheldonMary Ann and George ShimkoCharlene K. SokalAlichael M. SokalLouise N. SoldaniInes TalamantezAlice T TaylorCatherine L. ThompsonPatricia A. TurnerJanice UphamMr. and Airs. H. CUfford WattsMarvin and Sybil WeinerS. J. Wolfe and David A. RawsonAnne H. YoungCharles Zarobña

DONORS TO THE COLLECTIONS

September 1, 2007-August 31, 2008

Quincy S. and Zelia Abbot Antique Collectors' ClubJohn Adler Charles B. BarlowFrank P. Amari Air. and Mrs. James H. BarnhillAnonymous (i) Air. and Mrs. Robert C. Baron

23O

Nicholas A. BasbanesHester BlumBoston AthenaeumGeorge E. BrooksMichael BrophyMichael BrownEdward C. Browne, Jr.Richard Van Wyck BuelGeorge S. BurkhardtJon ButlerJohn CaldwellDeborah Allen CareyWilliam T CarletonBenjamin L. CarpScott E. CasperJoanne and Gary ChaisonChamplain SocietyHoward P ChudacoffColonial Society of MassachusettsCommon-place.orgJames L. ConradMarilee Howard CoryMark CraigCumberland House PublishingOna CurranAmey DeFriezAlan N. DegudsDennis R. DevonaR. R. DormeUey & Sons CompanySean DonnellyThomas L. DoughtonCharles E. F DrakeMaria E. FerranteWilliam B. EettersPatricia L. Fleming and John FlemingForbes LibraryRonald P. FormisanoFrick Art & Historical CenterFriends of the Grafton Public LibraryBrian K. Geiger


General Theological SeminaryMarjorie H. GibsonThe Gilder Lehrman Institute of

American HistoryPeter T. GillenHoward GinsbergVincent L. GoldenGary Carl GrasslNigel T. GullyMr. and Mrs. Philip E GuraRoz GwozdzGWWO, Inc.Kathleen HaleyStephen P. HanlyChris HaveyJohn and Lea HenchThomas and Elizabeth HorrocksDena HowellJames F. HunnewellOgden McC. HunnewellRobert C. HurmewellDarrell HyderNancy G. IsenbergLeon E. JacksonMr. and Mrs. John Jeppson 2ndRogers B.JohnsonKarl S. KabelacNorman and Michal KaneMr. and Mrs. John M. KeenumKatherine G. KeenumMr. and Mrs. Robert M KellerJeri Kirk

Christopher KrentzAugusta H. KresslerBarbara E. LaceyPhilip J. LampiJohn Lancaster and Daria D'Arienz^Jonathan C. and Allison R. LaneMr. and Mrs. Warren C. Lane, Jr.Julian L. & Linda F Lapides

Report of the Treasurer

Kenneth G. LeachGeorge A. LipphardtMaureen LoanLois K LockwoodSteven M. LomazowLarry LowenthalMarcus A. McCorisonPhilip McFarlandDaniel MandellSusan MartinPenni MartorellStephen Alihm and Akela ReasonAir. and Airs. Richard P. MorganAir. and Airs. Kenneth J. MoynihanGary B. NashCheryl NeedleMatthewJ. NeedleRichard NevellNewberry LibraryAir. and Airs. David P NordAir. and Airs. Richard Conrad NylanderJason OpalBeverly H. OsbomPatrick Henry Memorial FoundationPeabody Essex MuseumPennsylvania German SocietyPeter E. Randall PublisherAir. and Airs. William O. Pettit, Jr.The Reverend Rocco PiccolominiJane R. PomeroyElizabeth Watts PopeSteven W. PrattHelen QuiriniAlvin RabushkaWilliam S. ReeseBenjamin ReissRensselaer County Historical SocietyBruce D. RobertsKyle B. RobertsNicholas E. Rochester

Caroline E SchimmelJanice G. SchimmelmanEranklin SciaccaMartha SeverensManisha Sinha and Karsten StueberAlbert H. SmallJoseph Peter SpangRoger Eliot StoddardMr. and Mrs. Donald K. StraderGinger StrandSwarthmore College LibrarySwiss American Historical SocietyDavid E Tatham and Cleota ReedTaylor & Francis / RoutledgeTerra Eoundation for American ArtThe Maple Press CompanyThe Robert B. Haas Family Arts LibraryThe Schwarz GalleryBryant and Carolyn TollesTownsend Historical SocietyUnited States GovernmentUniversity of Georgia PressUniversity Press of New EnglandGejus van DiggeleViking PressThe Walpole SocietyDavid R. WarringtonLaura E. WasowiczRichard H. WendorfWest Bridgewater Pubhc LibraryRichard S. West and Monica GreenBlaine WhippleDavid R. WhitesellFrank and Virginia WiUiamsLauren M. WiltonGordon S. WoodRobert E. WrightHilary E. WyssYale University Art GalleryRosemarie Zagarri

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