2023-04-19T12:48:53-05:00 2022-06-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2021-07-01 020223322 Currier Museum of Art CURR 6036696144 150 Ash Street Manchester NH 03104 Charles Lippman Director of Finance 6036696144 2023-04-18 1 Charles Lippman 999009999 Connor Smart P02285543 2078792100 2023-04-18 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z Alan Chong 150 Ash Street Manchester NH 03104 18281804 0 X www.currier.org X 1919 NH Focused on art, centered in community, committed to inspire. 19 19 142 59 16868 0 3907084 1381002 203667 480156 8152303 4661845 6000 151494 12269054 6674497 19030 25870 0 0 2696287 3262637 0 0 753719 3969541 4453177 6684858 7741684 5584196 -1067187 107852000 92344716 395539 572958 107456461 91771758 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 3875856 0 336916 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. 958659 25870 154839 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. 176622 0 15980 Exhibitions. The museum normally presents six to seven special exhibitions each year, although this schedule was reduced in FY 2021 because of the pandemic. 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. 825923 0 129679 Ancillary services: In addition to the galleries, the museum facilities include classrooms, a 180-seat auditorium, a cafe, a shop, and other spaces. 825923 0 129679 5837060 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 1 82 0 1 142 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 19 19 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 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 Susan Lynch Trustee 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 1.00 X 0 0 0 William Stelling Trustee 1.00 X 0 0 0 Jay Surdukowski Trustee 1.00 X 0 0 0 William Upton Trustee 1.00 X 0 0 0 Stephen Duprey President 3.00 X X 0 0 0 Benjamin Kelley 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 202870 0 14635 Karen Graham Deputy Director 40.00 X 120584 0 9559 John Gennetti Director of Development 40.00 X 103846 0 7944 427300 0 32138 3 0 1 0 Milestone Engineering & Construction 1 Horseshoe Pond Lane Concord NH 03301 Construction and renovations 156910 1 228413 117050 1035539 1381002 Museum Admissions and Programs 713990 283814 283814 Art Center Tuition 611710 196342 196342 480156 766486 8465 758021 240 240 50508 63724 -13216 -13216 -13216 15135775 11240416 3895359 3895359 3895359 119450 117050 138657 -19207 -19207 4900 100 4800 4800 343287 164410 178877 157258 21619 6674497 637414 16868 4639213 25870 25870 347648 111711 154261 81676 2521223 1910276 185349 425598 39885 32867 1634 5384 147247 106631 28153 12463 206634 146874 23401 36359 14726 14726 45300 45300 279775 279775 29517 29013 252 252 124085 124085 242097 66215 108587 67295 113216 71476 18098 23642 519647 420253 74515 24879 27456 26928 70 458 32543 26614 680 5249 624911 503526 58444 62941 82226 52094 30105 27 Art works purchased 1861566 1861566 Exhibitions/collections 303764 302422 671 671 Public programs 130671 123499 1948 5224 Memberships 21677 19225 851 1601 7741684 5837060 1150905 753719 542514 127648 1558099 3105187 50094 51004 507257 99712 97110 105615 108033 84349 31384544 17146996 14096366 14237548 30915228 35613951 59977299 38919702 107852000 92344716 128005 239013 267534 333945 395539 572958 X 18167894 16573175 89288567 75198583 107456461 91771758 107852000 92344716 -1067187 -14617516 0 X X 0 1 X 1 0 X 2232855 1999409 1965201 3907084 1381002 11485551 2232855 1999409 1965201 3907084 1381002 11485551 696056 10789495 853072 803769 762265 650254 758261 3827621 87792 80017 22226 0 2461 192496 15505668 3707856 0.69580 0.68030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 86473091 73120 -9373666 4219682 243861 72709002 70028303 171424 20302727 3820902 208461 86473091 77702460 67003 506736 8036003 211893 70028303 79138011 279605 3560570 5056316 219410 77702460 77379833 1147538 6355919 5524146 221133 79138011 0.01240 0.71450 0.27310 0 0 27110391 13500747 13609644 4255353 3646249 609104 18800 18800 14237548 Hedge funds 11504121 F Interest in Adage Capital Partners 10964684 F Interest in WTC CTF SMID CAP Research Equity Portfolio 7848183 F Interest in State Street Real Asset Fund 8602714 F 38919702 X -7855903 -14617516 366891 -14250625 6394722 279775 279775 6674497 7828800 366891 366891 7461909 279775 279775 7741684 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 164,410. Fundraising expenses 138,657. Rental expenses 63,724. Gaming expenses 100. Part XII, Line 2d - Other Adjustments: Store, cafe, and catering cost-of-goods sold 164,410. Fundraising expenses 138,657. Rental expenses 63,724. Gaming expenses 100. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 3245000 0 0 0 0 0 0 3245000 0 3245000 1 0 1 1 1 0 Part III Accounting Method: Schedule F, Part IV, Lines 1, 3, 4, & 5: The museum has an ownership interest in several foreign corporate holdings as well as being an indirect shareholder of several passive foreign investment companies (PFIC) by way of their ownership in various alternative investments. The museum's interest in these foreign corporations did not surpass the filing threshold for Form 5471. Additionally, the Museum had no unrelated business income related to their PFIC interest and therefore is not required to file Form 8621. Lastly, none of the museum's direct or indirect shares in foreign partnerships amount to the ownership, control, or value thresholds that require the filing of Form 8865. Accordingly, the museum is not required to file these forms. Annual Gala 234500 115050 119450 12890 14144 11082 3950 96591 234500 115050 119450 12890 14144 11082 3950 96591 138657 -19207 0 Scholarships provided to underprivileged students to attend art classes or camps. 53 25870 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 202870 0 0 0 0 0 7350 0 7285 0 217505 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 6/30/2022 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 6/30/2022. 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 6/30/2022 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 6/30/2022. Mr. Milnes has been classified as an independent Trustee. 0 Andy Crews Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Andy Crews, who serves as a Trustee on the Museum's Board, was also a director on the Board of Primary Bank (term ended March 2022). Transactions in fiscal year ended 6/30/2022 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. Crews joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2022. Mr. Crews has been classified as an independent Trustee. 0 Pamela Dimantis Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Pamela Dimantis, 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 6/30/2022 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. Dimantis joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2022. Ms. Dimantis has been classified as an independent Trustee. 0 X 10 0 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 Additionally, 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. No conflicts of interest between the museum and any member of its Board of Trustees or officers existed during this Fiscal Year 2022. 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 47819 0 Currier Museum of Art