2024-04-26T15:17:05-05:00 2023-06-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2022-07-01 020223322 Currier Gallery of Art CURR 6036696144 150 Ash Street Manchester NH 03104 Charles Lippman Director of Finance 6036696144 2024-04-22 1 Charles Lippman 999009999 0 Connor Smart P02285543 2078792100 2024-04-22 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X Currier Museum of Art Karen Graham 150 Ash Street Manchester NH 03104 22450853 0 X www.currier.org X 1919 NH Focused on art, centered in community, committed to inspire. 21 21 130 62 17986 0 1381002 2430613 480156 438225 4661845 1619745 151494 192764 6674497 4681347 25870 25555 0 0 3262637 3762736 0 47733 1015939 4453177 6576941 7741684 10412965 -1067187 -5731618 92344716 93174730 572958 783336 91771758 92391394 X Focused on Art, Centered in Community, Committed to Inspire.The Currier Museum of Art facilitates meaningful encounters with art through its collection, exhibits, programs, art classes, and artists-in-residence. 0 0 5492321 0 333655 Collection: The Currier Museum of Art collects, preserves, researches, and makes accessible significant works of art. The 14,000 objects in the collection, including two houses designed by Frank Lloyd Wright and a recently acquired historic 19th century home, form the basis of the museum's educational and social programs. The museum maintains state-of-the-art storage facilities and preserves objects under its care. It makes the collection fully accessible through the web, programs, publications, and social media. 1358478 25555 153340 Education and community programs. The museum creates innovative programs for a wide variety of audiences. Along with intensive online programming, these include school tours, guided visits, lectures, performances, and large-scale community events. Special programs serve the community, including families impacted by opioid abuse, Alzheimer's patients and their caregivers, military veterans, immigrants, cancer patients and their caregivers, and those affected by disabilities. Studio-based classes for children and adults are run live and online. The museum has an Artist in Residence program that supports international contemporary artists who work onsite and in our community at-large. 250283 0 15825 Exhibitions. The museum normally presents six to seven special exhibitions each year. The museum created exhibitions from its permanent collection and in collaboration with New Hampshire artists to respond to issues of equity. A full range of educational and community programs are presented for each exhibition. 1170383 0 128424 Ancillary services: In addition to the galleries, the museum facilities include classrooms, a 180-seat auditorium, a cafe, a shop, and other spaces. 1170383 0 128424 8271465 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 1 97 0 1 130 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NH X Charles Lippman Director of Finance 6036696144 150 Ash Street Manchester NH 03104 Richard Botnik Trustee 1.00 X 0 0 0 Micheal Costa Trustee 1.00 X 0 0 0 Andy Crews Trustee (end 2/2023) 1.00 X 0 0 0 Pamela Diamantis Trustee 1.00 X 0 0 0 M Christine Dwyer Trustee 1.00 X 0 0 0 Jeffrey D Gilbert Trustee 1.00 X 0 0 0 Bonnie Greiner Trustee 1.00 X 0 0 0 Pauline Ikawa Trustee 1.00 X 0 0 0 David Jensen Trustee 1.00 X 0 0 0 Laurence Knowlton Trustee (start 12/2022) 1.00 X 0 0 0 Benjamin Kelley Trustee 1.00 X 0 0 0 Tracy Kozak Trustee (start 12/2022) 1.00 X 0 0 0 Susan Lynch Trustee 1.00 X 0 0 0 Jessica McKeon Trustee (start 12/2022) 1.00 X 0 0 0 Peter Milnes Trustee 1.00 X 0 0 0 John H Morison Trustee 1.00 X 0 0 0 Anthony Poore Trustee (end 2/2023) 1.00 X 0 0 0 William Stelling Trustee 1.00 X 0 0 0 William Upton Trustee 1.00 X 0 0 0 Patricia Wentworth Trustee (start 4/2023) 1.00 X 0 0 0 Stephen Duprey President 3.00 X X 0 0 0 Jay Surdukowski Vice President 1.00 X X 0 0 0 Thomas Silvia Treasurer 1.00 X X 0 0 0 Alan Chong Director/CEO 40.00 X 238042 0 29336 Karen Graham Deputy Director 40.00 X 145518 0 16791 Charles Lippman Director of Finance 40.00 X 135000 0 0 518560 0 46127 3 0 1 0 Milestone Engineering & Construction 1 Horseshoe Pond Lane Concord NH 03301 Construction and renovations 366232 Skyline Roofing Services LLC 861 Page Street Manchester NH 03109 Roofing 178886 Mount Major Tech 160 Dover Road Unit 11 Chichester NH 03258 Security and IT services 177634 Denron Hall Plumbing & HVAC LLC 605 Front Street Manchester NH 03102 HVAC and plumbing 148360 4 199618 198819 1137730 894446 8523 2430613 Museum Admissions and Programs 713990 319269 319269 Art Education Tuition 611710 118956 118956 438225 775347 20068 755279 1582 1582 65865 90566 -24701 -24701 -24701 18186804 17342406 844398 844398 844398 120865 198819 124020 -3155 -3155 9000 5600 3400 3400 422552 206914 215638 193019 22619 4681347 631244 17986 1601504 25555 25555 564687 247637 189034 128016 2774994 2065206 186065 523723 29567 20757 4898 3912 154408 98647 39914 15847 239080 168805 24765 45510 46459 46459 40100 40100 47733 47733 211476 211476 64960 51657 12959 344 98631 98631 305281 85793 123585 95903 136174 87903 15989 32282 492704 440886 25791 26027 33623 31825 111 1687 11961 6276 5685 694145 555316 69414 69415 79883 50577 29294 12 Art works purchased 3885912 3885912 Exhibitions/collections 286649 286599 50 Public programs 172354 154486 17868 Memberships 16629 13904 800 1925 10412965 8271465 1125561 1015939 127648 407984 3105187 1446384 51004 235500 99712 201 105615 77867 84349 138306 32491247 17808501 14237548 14682746 35613951 22784088 38919702 53401654 92344716 93174730 239013 140228 333945 643108 572958 783336 X 16573175 17228761 75198583 75162633 91771758 92391394 92344716 93174730 -5731618 6351254 0 X X 0 1 X 1 1 1 X 1999409 1965201 3907084 1381002 2430613 11683309 1999409 1965201 3907084 1381002 2430613 11683309 695416 10987893 803769 762265 650254 758261 756861 3731410 80017 22226 2461 18231 122935 15537654 2886237 0.70720 0.69580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 72709002 76216 7462095 7497616 209122 72540575 86473091 73120 -9373666 4219682 243861 72709002 70028303 171424 20302727 3820902 208461 86473091 77702460 67003 506736 8036003 211893 70028303 79138011 279605 3560570 5056316 219410 77702460 0.01300 0.71610 0.27090 0 0 27497501 13911719 13585782 4974946 3896782 1078164 18800 18800 14682746 Hedge funds 11811318 F Interest in Adage Capital Partners 12225590 F Interest in WTC CTF SMID CAP Research Equity Portfolio 9266973 F Interest in State Street Real Asset Fund 7548507 F Interest in Artisan International Funds 5168635 F Interest in Oakmark International Equity 6058776 F Private equity investments 1321855 F 53401654 X 11248225 6351254 427100 6778354 4469871 211476 211476 4681347 10628589 427100 427100 10201489 211476 211476 10412965 Part III, Line 1a: In conformity with industry practice, the value of art objects in the permanent collection are not recorded in statements of financial position. The art collection is catalogued and tracked for its educational value. Objects deemed no longer appropriate for the collection are de-accessioned according to a rigorous, established policy developed in accordance with ethical guidelines for art museums. Proceeds from deaccessioning are used to acquire other objects for the collection. Part III, Line 4: The Currier Museum's permanent collection is the core of the institution's mission. These works of art, preserved for the benefit of the public, are used for exhibition, research, and education. Among the approximately 14,000 objects in the collection are two houses built in Manchester by Frank Lloyd Wright, which are regularly open to the public. Part V, Line 4: Endowment funds are used for museum operations, exhibitions, art acquisition and scholarships. Part X, Line 2: The Internal Revenue Service, in a letter dated July 16, 2004, determined that the Museum is a publicly-supported charity under Internal Revenue Code Section 501(c)(3) and, therefore, not subject to federal income taxes or federal excise taxes imposed upon private foundations. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items, including unrelated business income or tax status. In accordance with U.S. GAAP, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Management has evaluated the Museum's tax positions taken on its filed tax returns and concluded that the Museum has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. Any interest and penalties would be recorded in income tax expense. Part XI, Line 2d - Other Adjustments: Store, cafe, and catering cost-of-goods sold 206,914. Fundraising expenses 124,020. Rental expenses 90,566. Gaming expenses 5,600. Part XII, Line 2d - Other Adjustments: Store, cafe, and catering cost-of-goods sold 206,914. Fundraising expenses 124,020. Rental expenses 90,566. Gaming expenses 5,600. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 3537000 0 0 0 0 0 0 3537000 0 3537000 1 0 1 1 1 0 Part III Accounting Method: Schedule F, Part IV, Lines 1, 3, 4, & 5: For the period covered by this Form 990, the museum had an ownership interest in several foreign corporations, and was also an indirect shareholder of several passive foreign investment companies (PFIC) by way of its ownership in various alternative investments, including through qualified partnership interests. Through these various investment vehicles, the museum may either directly or indirectly make transfers to foreign corporations. When such transfers are in excess of the applicable filing threshold, the museum will prepare and file Form 926 in accordance with IRS Instructions and applicable tax laws. Furthermore, the museum's ownership interest in these foreign corporations did not surpass the filing threshold for Form 5471. Additionally, the Museum did not have any unrelated business income related to a direct or indirect PFIC interest, and therefore the museum is not required to file Form 8621. Lastly, none of the museum's direct or indirect interests in foreign partnerships were substantial enough to meet the ownership, control, or value thresholds that require the filing of Form 8865. Accordingly, the museum is not required to file these forms. X X X X 1 Brightspot Consultants PO Box 4213 Portsmouth NH 03802 Grant Writing 0 1137730 47733 1089997 1137730 47733 1089997 Annual Gala 319684 198819 120865 10496 30820 11841 7190 63673 319684 198819 120865 10496 30820 11841 7190 63673 124020 -3155 1 Scholarships provided to underprivileged students to attend art classes or camps. 54 25555 Part I, Line 2: Prospective scholarship recipients are required to complete a scholarship application and provide either two copies of wage receipts or their latest tax return (Form 1040). Any grants paid to organizations must be qualifying tax-exempt organizations and/or government agencies that use the funds to further missions and purposes that are in keeping with the goals of the Museum. X X X 0 0 0 0 0 0 0 0 0 Alan Chong Director/CEO 238042 0 0 0 0 0 7350 0 21986 0 267378 0 0 0 Karen Graham Deputy Director 134318 0 11200 0 0 0 4536 0 12255 0 162309 0 0 0 Bonnie Greiner Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Bonnie Greiner, who serves as a Trustee on the Museum's Board, is married to William Greiner, the Chairman of the Board for Primary Bank. Transactions in fiscal year ended 6/30/2023 between the Museum and the Bank were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. The accounts were active prior to Mrs. Greiner joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2023. Mrs. Greiner has been classified as an independent Trustee. 0 Peter Milnes Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Peter Milnes, who serves as a Trustee on the Museum's Board, is also a director on the Board of Primary Bank. Transactions in fiscal year ended 6/30/2023 between the Museum and the Bank were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. The accounts were active prior to Mr. Milnes joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2023. Mr. Milnes has been classified as an independent Trustee. 0 Pamela Diamantis Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Pamela Diamantis, who serves as a Trustee on the Museum's Board, is also a director on the Board of Primary Bank. Transactions in fiscal year ended 6/30/2023 between the Museum and the Bank were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. The accounts were active prior to Ms. Diamantis joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2023. Ms. Diamantis has been classified as an independent Trustee. 0 X 391 0 SFAS 116 X 2 8523 Gift Date FMV 1 0 1 1 Part I, Line 32b: The Museum uses a third-party broker to sell gifts of securities. Part I, Line 33: The dollar value of gifts of artwork is not reported on Form 990, Part VIII, Line 1G, as The Museum does not capitalize its collections or report them as revenue, as allowed under SFAS 116. Form 990, Part VI, Section A, line 2 Andy Crews, Pamela Diamantis, and Peter Milnes, who all serve on the Museum's Board of Trustees, also share a business relationship. Form 990, Part VI, Section B, line 11b The 990 was reviewed and approved by the Finance Committee of the Board, the Director/CEO, the Deputy Director, and the Director of Finance. The full board of trustees receives a copy of the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c The museum's conflict of interest policy requires all trustees and officers to disclose any known or potential conflict of interest to the Board President prior to any decision or vote occurring with the potential conflict. Such trustees or officers are not permitted to participate when a decision or vote is taken on the matter. All trustees are annually required to disclose in writing any conflicts of interest or certify that none exist. Form 990, Part VI, Section B, line 15a The Board of Trustees approves any change in pay of the Director/CEO. The Board of Trustees conducts an annual review of the performances of the Director/CEO. The President of the Board reviews salaries or directors of comparable institutions, found in 990s and the salary survey of the American Association of Museum Directors, before recommending a change in pay to the full board. Form 990, Part VI, Section C, line 19 Governing documents, the conflict of interest policy, and financial statements are made available to the public upon request. Form 990, Part XII, Line 2c: The Finance Committee of the Currier Museum of Art meets annually with its independent audit/CPA firm. The audit is completed in accordance with auditing standards generally accepted in the United States of America. The draft financial statements and management letter are presented by the CPA and thoroughly reviewed by the Finance Committee. After review and approval of the audited financial statements and any management letter by the Finance Committee, the final audit is presented to the full board for review and approval. This process has not changed from prior years. Currier Winter Garden Cafe LLC 150 Ash Street Manchester NH 03104 020223322 Dining services NH 124857 0 Currier Museum of Art