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STUDEBAKER NATIONAL MUSEUM,INC. ' Notes to Financial Statements December 31,2016 NOTE 6-BENEFICIAL INTEREST IN ASSETS The fair value of assets measured on a recurring basis at year end are as follows: ' 2016 2015 Fair Value Fair Value Leve13 Leve13 ' Beneficial interests in assets held by others: Community Foundation Fund $ 29,981 $ 28.442 ' Fair value for the beneficial interest in assets held by The Community Foundation of St. Joseph County, Inc. (Community Foundation) is based on the fair value of the underlying assets, as provided by the Community Foundation that holds the assets, which approximates the present value of expected future distributions. The Museum and other donors have made contributions to the Community Foundation for the use and benefit of the Museum. Total contributions made by the Museum for the years ended ' December 31 were $0 -2016 and $1,250-2015. Aggregate contributions made by the Museum to this fund as of December 31 are$26,250 -2016 and $26,250-2015. ' The following is a reconciliation of beginning and ending balances of the fair value of assets measured by Level 3 inputs for the years ended December 31: ' 2016 2015 Beneficial interests in assets held by others: Beginning fair value $ 28,442 $ 29,997 ' Contributions 21,285 Distributions (16,285) Change in value 1,539 ----L6,5-5-5) ' Ending Fair Value $ 29.981 $ 28,442 The change in value of the beneficial interests in assets held by others is included in investment 1 income in the accompanying statement of activities and changes in net assets. 1 ' (See auditors'report.) 12