Resources for the
Board of Directors of Friends of Hearthstone, Inc.
Hearthstone’s current Board of Directors is as follows (in alphabetical order):
Fred Hoida, Director
Ronell Hubanks, Director
Laura Ann Kamm, Director and Treasurer
Antoinette Powell, Director and Board President
Six new members will be joining the joining the Board in June.
The community and Hearthstone’s volunteers and staff thank each and every one of the above for dedicating their time, talent, and insights to serve the museum and its mission.
Below are links to important documents that will help new and current Board members alike in their duties as a director. Please review them. If any questions arise, please do not hesitate to contact George Schroeder, Executive Director, at gschroeder@hearthstonemuseum.org or 920 730 8204.
Once again, thank you for your service.
Table of Contents and Introduction to Board of Directors Materials
General Operations Information
Bylaws of Friends of Hearthstone, Inc.
Accounting Policies and Procedures Manual
Board Adopted Policies
Conflict of Interest Policy and Annual Statement
Diversity and Inclusion Policy
Record Retention and Document Destruction Policy
Policy and Procedures for New Initiatives
Required Training for all Board, Staff, and Volunteers
Neuro-Diversity Training (password is Rogers1882)
LGBTQ+ Identities Training (password is Rogers1882)
General Board Training
Best Practices for Board Service for Historic Sites
AASLH Statement of Standards and Ethics
What Makes a Good Current Board Member
Board of Directors Recruitment - Matrix
How to Turn Your Board Members into Fundraisers
How to Become an Expert in the Conversation of Endowment
Board Minutes
Periodic Financial Information
Most Recent Form 990, 2025 (filed May 10, 2026)
Note on financial information:
The accounting procedures used by Friends of Hearthstone, Inc. must conform to generally accepted accounting principles (GAAP). However, PLEASE NOTE: THE MUSEUM CURRENTLY USES THE CASH METHOD OF ACCOUNTING. This better reflects the operations of the museum and reduces the bookkeeping burden when it comes to certain operational aspects of the museum such as advanced ticket sales than does an accrual basis. Please see the Accounting Policies and Procedures Manual for details.
Under this cash basis, the Statement of Activity in the Management Report for 2025 clearly shows a net operating surplus of $17,205.73. However, the IRS requires that Form 990 incorporates depreciation and other expenses which are not used in cash basis accounting. This, despite the fact that the museum pays every expenditure in cash.
There are two major categories of non-cash deductions that must be included on the tax return.
1) Depreciation for 2025 totaled -$41,789. See Form 4562 Depreciation and Amortization in the above return.
For example, the museum is still depreciating the purchase price paid to the Mares family for the residence on Dec 12, 1986. This alone accounted for a $5486 deduction against the net operating surplus in 2025. Likewise, the museum is still writing off 50 other capital expenditures. These include the 36 year old handicap lift, the lower level restoration from 1994, the porch restoration from 2013, restoration of all the interior spaces through 2018, and constructing the parking lot in 2018. This is in addition to more recent restorations including the roof, chimneys, exterior woodwork, and new boiler. In fact, it would be reprehensible if there were no depreciation expenses as the mission of Friends of Hearthstone, Inc. is to preserve, as well as interpret, the residence.
2) Other expenses that must be included on Form 990 are illustrated by PART XI, LINE 9 - OTHER CHANGES IN NET ASSETS EXPLANATION RETURN ON ASSETS HELD BY COMM FDN -$37,770 on Schedule O. This is the paper loss from the Community Foundation's handling of the endowment. While it as nothing to do with the operating expesnes, it must be included on the return.
As a result, when depreciation and other deductions are included, they make it appear on the tax return that the museum had a net operating loss in 2025. This is not true. To put it simply, the museum pays cash for everything and it cannot spend money it does not have.