2023-05-09T12:11:19-05:00 2022-06-30 946214841 ARMANINO LLP 12657 ALCOSTA BLVD STE 500 SAN RAMON CA 945834600 990 2021-07-01 941704765 ASIAN ART MUSEUM FOUNDATION OF SAN FRANCISCO ASIA 4155813500 200 LARKIN STREET SAN FRANCISCO CA 941024734 MATTHEW AYOTTE CONTROLLER 4155813730 2023-05-08 1 MATTHEW AYOTTE 999009999 KATY BROWN P00650274 9257902600 2023-05-08 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MATT AYOTTE 200 LARKIN STREET SAN FRANCISCO CA 941024734 58654285 0 X WWW.ASIANART.ORG X 1969 CA THE ASIAN ART MUSEUM CELEBRATES, PRESERVES, AND PROMOTES ASIAN AND (CONTINUED ON SCHEDULE O)ASIAN AMERICAN ART AND CULTURES FOR LOCAL AND GLOBAL AUDIENCES. WE PROVIDE A DYNAMIC FORUM FOR EXCHANGING IDEAS, INVITING COLLABORATION, AND FUELING IMAGINATION TO DEEPEN UNDERSTANDING AND EMPATHY AMONG PEOPLE OF ALL BACKGROUNDS. 45 45 182 280 16720 12782 24997838 28174980 185540 2544545 2220041 4042402 226461 679054 27629880 35440981 0 0 0 0 17311795 18716008 0 0 4485859 16678630 16790277 33990425 35506285 -6360545 -65304 268934416 252285486 83952000 81169363 184982416 171116123 X THE ASIAN ART MUSEUM CELEBRATES, PRESERVES, AND PROMOTES ASIAN AND ASIAN AMERICAN ART AND CULTURES FOR LOCAL AND GLOBAL AUDIENCES. WE PROVIDE A DYNAMIC FORUM FOR EXCHANGING IDEAS, INVITING COLLABORATION, AND FUELING IMAGINATION TO DEEPEN UNDERSTANDING AND EMPATHY AMONG PEOPLE OF ALL BACKGROUNDS. 0 0 20603196 2352961 THE MUSEUM IS ONE OF SAN FRANCISCO'S PREMIER ARTS INSTITUTIONS AND HOME TO A WORLD-RENOWNED COLLECTION OF MORE THAN 18,000 ART TREASURES SPANNING 6,000 YEARS OF HISTORY AND REPRESENTING COUNTRIES AND CULTURES THROUGHOUT ASIA. THE COLLECTION'S SCOPE AND BREADTH ENABLE THE MUSEUM TO INTRODUCE ALL OF THE MAJOR TRADITIONS OF ASIAN ART AND CULTURE, AS WELL AS THE WORK OF MANY ASIAN AMERICAN ARTISTS. MORE THAN 2,500 ARTWORKS FROM THE COLLECTION ARE GENERALLY ON VIEW IN THE MUSEUM'S 33 COLLECTION GALLERIES, WITH ANOTHER 500 OBJECTS REMOVED AND REFRESHED WITH WORKS FROM STORAGE EACH YEAR. 1085244 11604 THE MUSEUM PROVIDES A BROAD RANGE OF PROGRAMS THAT EXPLORE THE CULTURES REPRESENTED IN THE MUSEUM'S COLLECTION AND EXHIBITIONS, AND WHICH ARE DESIGNED TO REACH ALL LEVELS OF EDUCATION (K-12, COLLEGE, AND ADULT) AND AWARENESS OF ART (NOVICE THROUGH EXPERT). FREE DOCENT-LED TOURS OF THE COLLECTION GALLERIES AND SPECIAL EXHIBITIONS ARE CONDUCTED THROUGHOUT THE DAY. THE MUSEUM'S STORYTELLING CORPS OFFERS ENTERTAINING AND EDUCATIONAL PROGRAMS FOR CHILDREN AND ADULTS RELATING TO ARTWORKS ON VIEW. SCHOOL PROGRAMS INCLUDE A VARIETY OF INDUSTRY-BASED ACTIVITIES: ALL CLASS TOURS ARE INTERACTIVE AND EMPHASIZE OBSERVATION SKILLS, CRITICAL THINKING, GROUP WORK, AND PEER PRESENTATIONS. 2135423 760014 AFTER HOPE: VIDEOS OF RESISTANCEFEB 12, 2021 MAY 2, 2022DESIGNED AS A SET OF THREE INTERRELATED PROGRAMS AN IN-GALLERY PRESENTATION OF MORE THAN 50 SHORT VIDEOS FROM ACROSS ASIA AND THE ASIAN DIASPORA (VIDEOS OF RESISTANCE); A SERIES OF WORKSHOPS, ROUNDTABLE DISCUSSIONS, AND CONVENINGS (INTERNATIONAL WORKING GROUP); AND AN ONLINE PLATFORM (AFTERHOPE.COM) AFTER HOPE EXPLORES THE ROLE OF HOPE IN CONTEMPORARY ART AND ACTIVISM. TEAMLAB: CONTINUITYJUL 15, 2021 FEB 14, 2022STEP INTO AN EXPERIENCE LIKE NO OTHER: AT TEAMLAB: CONTINUITY, YOU BECOME PART OF AN INTERACTIVE MULTIMEDIA LANDSCAPE OF BLOOMING FLOWERS, DARTING FISH, AND SOARING CROWS. LIKENESS AND LEGACY IN KOREAN PORTRAITUREAUG 17, 2021 NOV 29, 2021 RARE 18TH CENTURY PORTRAITS AND CONTEMPORARY WORKS EXPLORE THE DEEP HISTORY OF PORTRAITURE IN KOREAN CULTURE.WEAVING STORIESDEC 17, 2021 MAY 2, 2022VIBRANT TEXTILES FROM ACROSS INDONESIA, THE PHILIPPINES, AND MALAYSIA REVEAL STORIES AS VARIED AS THE REGION'S HUNDREDS OF WEAVING TRADITIONS AND AS UNIVERSAL AS CLOTH. SEEING GENDERJAN 21, 2022 SEP 5, 2022LOOK AT THE MUSEUM'S COLLECTION THROUGH A NEW LENS WITH SEEING GENDER, A FOCUSED SELECTION THAT REVEALS THE COMPLEXITIES AND NUANCES OF GENDER ACROSS ASIAN ART.CARLOS VILLA JUN 17, 2022 OCT 24, 2022CARLOS VILLA: WORLDS IN COLLISION CELEBRATES THE EXUBERANT WORK AND ENDURING INFLUENCE OF SAN FRANCISCO ARTIST CARLOS VILLA (1936 2013). THE FIRST MAJOR MUSEUM RETROSPECTIVE DEDICATED TO THE WORK OF A FILIPINO AMERICAN ARTIST, THIS GROUNDBREAKING EXHIBITION SHOWS US VILLA NOT ONLY AS ONE OF THE MOST IMPORTANT ARTISTS OF HIS GENERATION, BUT ALSO AS A TEACHER, CURATOR, ACTIVIST, AND COMMUNITY ORGANIZER. 23823863 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 0 1 0 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 69 0 1 182 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 45 45 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X X MATT AYOTTE 4155813500 200 LARKIN STREET SAN FRANCISCO CA 941024734 FRED M LEVIN CHAIR 1.00 X X 0 0 0 SALLE YOO PRESIDENT 1.00 X X 0 0 0 YOGEN DALAL VICE PRESIDENT 1.00 X X 0 0 0 GORRETTI LO LUI SECRETARY 1.00 X X 0 0 0 KENNETH P WILCOX TREASURER 1.00 X X 0 0 0 AKIKO YAMAZAKI TRUSTEE 1.00 X 0 0 0 ANN TANENBAUM TRUSTEE 1.00 X 0 0 0 ANTHONY SUN TRUSTEE 1.00 X 0 0 0 ANJALI PICAHI TRUSTEE 1.00 X 0 0 0 CHARLES HUANG TRUSTEE 1.00 X 0 0 0 CHONG-MOON LEE TRUSTEE 1.00 X 0 0 0 CHOONGJA MARIA KAHNG TRUSTEE 1.00 X 0 0 0 CLAUDINE CHENG TRUSTEE 1.00 X 0 0 0 CORI BATES TRUSTEE 1.00 X 0 0 0 DIPTI MATHUR TRUSTEE 1.00 X 0 0 0 DIXON R DOLL TRUSTEE 1.00 X 0 0 0 EHLER SPLIEDT TRUSTEE 1.00 X 0 0 0 ELIZA CASH TRUSTEE 1.00 X 0 0 0 ELLEN BURSTEIN BAUCH TRUSTEE (LEFT 9/21) 1.00 X 0 0 0 FRED EYCHANER TRUSTEE 1.00 X 0 0 0 HUIFEN CHAN TRUSTEE 1.00 X 0 0 0 INA GOODWIN TATEUCHI TRUSTEE 1.00 X 0 0 0 JENNIFER KAO TRUSTEE 1.00 X 0 0 0 JOHN MAA TRUSTEE 1.00 X 0 0 0 KAPIL CHHIBBER TRUSTEE 1.00 X 0 0 0 KIKI KAPANY TRUSTEE 1.00 X 0 0 0 LATA KRISHNAN TRUSTEE 1.00 X 0 0 0 LINDA LEI TRUSTEE (LEFT 6/22) 1.00 X 0 0 0 MARSHA VARGAS HANDLEY TRUSTEE 1.00 X 0 0 0 MARTHA SAM HERTELENDY TRUSTEE 1.00 X 0 0 0 MICHELE ALIOTO TRUSTEE 1.00 X 0 0 0 MICHELLE S TAI TRUSTEE 1.00 X 0 0 0 MIMI GARDNER GATES TRUSTEE 1.00 X 0 0 0 MINDY LIN SUN TRUSTEE 1.00 X 0 0 0 NANCI NISHIMURA TRUSTEE 1.00 X 0 0 0 PEHONG CHEN TRUSTEE 1.00 X 0 0 0 RICHARD C BLUM TRUSTEE (LEFT 2/22) 1.00 X 0 0 0 RICHARD YEN TRUSTEE 1.00 X 0 0 0 SANDRA CHEUNG TRUSTEE 1.00 X 0 0 0 SONGYEE YOON TRUSTEE 1.00 X 0 0 0 TAO DODSON TRUSTEE 1.00 X 0 0 0 TIFFANY CHANG TRUSTEE 1.00 X 0 0 0 TIMOTHY F KAHN TRUSTEE 1.00 X 0 0 0 TRAVIS KIYOTA TRUSTEE 1.00 X 0 0 0 VAISHALI CHADHA TRUSTEE 1.00 X 0 0 0 VASANT PRABHU TRUSTEE 1.00 X 0 0 0 VIJAY SHRIRAM TRUSTEE 1.00 X 0 0 0 JAY XU DIRECTOR & CEO 40.00 X 597210 0 69716 SARA LEE CHIEF FINANCIAL OFFICER 40.00 X 241744 0 5777 ROB MINTZ DEPUTY DIRECTOR OF ART & PROGRAMS 40.00 X 217093 0 63294 BANAFSHEH PERRONE CHIEF OF STAFF 40.00 X 199344 0 21391 YAEL EYTAN CHIEF MARKETING & COMMUNICATIONS OFFICER 40.00 X 192665 0 18754 CAROL SHERPA CONSTRUCTION PROJECT MANAGER 40.00 X 166915 0 13541 FORREST MCGILL SENIOR CURATOR 40.00 X 162760 0 57647 CALEN MCELDOWNEY DIRECTOR OF MUSEUM SECURITY 40.00 X 157946 0 55329 KO KO ZIN BLDG GRD MAIN SUPERVISOR 40.00 X 152049 0 70541 JODY HART DIRECTOR OF IT 40.00 X 150973 0 20907 2238699 0 396897 32 0 1 0 LENAT & PARTNERS INC 522 EDINBURGH ST SAN MATEO CA 94107 ADVERTISING 948670 TEAMLAB INC 2-12 KANDAOGAWAMACHI CHIYODA-KU TOKYO JA 101-0052 EXHIBITION PROJECT MANAGEMENT 574729 SWINERTON BUILDERS 260 TOWNSEND ST SAN FRANCISCO CA 94945 CONSTRUCTION COST 552442 WHY ARCHITECTURE 9520 JEFFERSON BLVD SUITE C CULVER CITY CA 90232 ARCHITECTURAL SERVICES 501957 W BRADLEY ELECTRIC INC 90 HILL RD NOVATO CA 94801 INSTALLATION SERVICES 365868 15 1354983 117251 9923413 16779333 415445 28174980 ADMISSION REVENUE 713990 2521963 2521963 OTHER REVENUE 713990 13271 13271 PUBLICATION REVENUE 713990 5651 5651 TOUR REVENUE 713990 3660 3660 2544545 1612709 16720 1595989 7613 7613 281560 148606 132954 132954 132954 24726591 143327 21998769 441456 2727822 -298129 2429693 2429693 25000 117251 113377 -88377 -88377 1082265 511096 571169 571169 CAFE 722210 46830 46830 MISCELLANEOUS INCOME 900099 8865 8865 55695 35440981 3124579 16720 4124702 1619259 998441 420298 200520 12618091 8465618 2752805 1399668 1227311 862820 184314 180177 2210084 1530802 356957 322325 1041263 732573 135244 173446 115859 115859 124193 31669 90040 2484 218564 218564 1380732 1003985 208752 167995 789216 600122 189094 652213 259396 376066 16751 456240 251727 198511 6002 1833208 999654 831257 2297 147672 121956 3181 22535 76380 72026 2839 1515 3633653 2494859 604360 534434 5067031 3479013 842764 745254 699791 576331 120146 3314 PRINTING/PUBLICATION 385681 185264 639 199778 SHIPPING/FREIGHT 372264 282262 9973 80029 ENTERTAINMENT 284277 50488 578 233211 SUPPLIES 245748 185022 56037 4689 307555 305412 1802 341 35506285 23823863 7196563 4485859 13135 9073 7717920 8094219 7704534 5150828 543249 467305 196158 337967 192737443 77990749 118679257 114746694 89473395 76782444 44606768 46696956 268934416 252285486 4105753 4030822 876910 655367 78969337 76483174 83952000 81169363 X 54623440 90394721 130358976 80721402 184982416 171116123 268934416 252285486 -65304 -13800989 0 X 0 1 X 1 0 X 41144512 32476911 37746835 24997838 28174980 164541076 41144512 32476911 37746835 24997838 28174980 164541076 7547407 156993669 2414466 2635958 2260764 1584345 1885162 10780695 17405 10521 14053 17747 16720 76446 68310 49355 38105 712 71830 228312 175626529 10914528 0.89390 0.89180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 82553706 6345697 -6697440 3246586 78955377 71538541 -1479384 14753858 2259309 82553706 67928984 6599088 -1826979 1162552 71538541 60985984 4595000 3536000 1188000 67928984 53522984 5323000 3269000 1129000 60985984 0.13970 0.65610 0.20420 0 0 176717329 63142933 113574396 12139667 11711208 428459 3880447 3136608 743839 114746694 INVESTMENTS - LIMITED PARTNERSHIP 4960043 F INVESTMENTS - HELD IN TRUST 1016427 F INVESTMENTS - HEDGE FUND INVESTMENTS 17860244 F INVESTMENTS - OTHER INVESTMENTS 22860242 F 46696956 X 21901975 -13800989 -13800989 35702964 -261983 -261983 35440981 35768268 261983 261983 35506285 0 35506285 PART III, LINE 1A: THE MUSEUM'S PERMANENT COLLECTIONS REPRESENT MORE THAN 40 ASIAN COUNTRIES AND SPAN 6,000 YEARS OF ASIAN HISTORY. OBJECTS ARE HELD FOR EDUCATIONAL, RESEARCH, AND CURATORIAL PURPOSES. UNDER THE MUSEUM'S COLLECTIONS MANAGEMENT POLICY, ALL OBJECTS ARE CATALOGUED, PRESERVED, AND PROVIDED WITH ONGOING CARE. ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED REGULARLY. TITLE TO THE PERMANENT COLLECTION OF WORKS OF ART RESTS WITH THE CITY. IF ACCEPTED INTO THE PERMANENT COLLECTION, DONATED ART OBJECTS BECOME THE PROPERTY OF THE CITY AND ARE NOT RECORDED IN THE MUSEUM'S COMBINED FINANCIAL STATEMENTS. PURCHASES OF ART ARE RECORDED AS AN EXPENSE IN THE MUSEUM'S COMBINED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. THE MUSEU DEACCESSIONS OBJECTS DEEMED NO LONGER RELEVANT TO THE PERMANENT COLLECTION IN ACCORDANCE WITH THE MUSEUM'S COLLECTION MANAGEMENT POLICY. PROCEEDS FROM DEACCESSIONS ARE USED TO ACQUIRE OTHER OBJECTS FOR THE COLLECTION. THE MUSEUM DEACCESSIONED ONE AFGHANI ARCHITECTURAL PANEL AND 82 THAI CERAMICS DURING THE YEAR ENDED JUNE 30, 2022. PART III, LINE 4: THE MUSEUM'S PERMANENT COLLECTIONS REPRESENT MORE THAN 40 ASIAN COUNTRIES AND SPAN 6,000 YEARS OF ASIAN HISTORY. OBJECTS ARE FOR EDUCATIONAL, RESEARCH, AND CURATORIAL PURPOSES. UNDER THE MUSEUM'S COLLECTIONS MANAGEMENT POLICY, ALL OBJECTS ARE CATALOGUED, PRESERVED, AND PROVIDED WITH ONGOING CARE. PART V, LINE 4: THE MUSEUM'S ENDOWMENT FUND CONSISTS OF INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE MUSEUM'S TRUSTEES TO FUNCTION AS ENDOWMENTS. THE NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING THOSE FUNDS DESIGNATED BY THE TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. AMOUNTS WITHDRAWN FROM THE ENDOWMENT UNDER THE ENDOWMENT SPENDING POLICY ARE FOR THE MUSEUM'S PROGRAMS AND OPERATING EXPENSES, ALLOCATED IN ACCORDANCE WITH THE RESTRICTIONS PERTAINING TO THOSE FUNDS. THE TIMING AND AMOUNTS OF WITHDRAWALS ARE DETERMINED BY THE MUSEUM'S MANAGEMENT IN CONSULTATION WITH THE BUDGET AND FINANCE COMMITTEE AND THE EXECUTIVE COMMITTEE. INVESTMENT-RELATED EXPENSES ARE CHARGED SEPARATELY AGAINST THE ENDOWMENT. PART X, LINE 2: THE MUSEUM HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED TAX-EXEMPT ORGANIZATION THAT IS EXEMPT FROM FEDERAL TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FROM CALIFORNIA FRANCHISE AND/OR INCOME TAXES UNDER REVENUE AND TAXATION CODE SECTION 23701(D). THE MUSEUM BELIEVES THAT NO LIABILITIES ARE REQUIRED TO ACCRUE FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES -113,377. RENT EXPENSE -148,606. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 113,377. RENT EXPENSE 148,606. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 INVESTMENTS 3402811 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 4775386 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 INVESTMENTS 17131162 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 INVESTMENTS 80450 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 INVESTMENTS 745681 0 0 0 0 0 0 26135490 0 26135490 0 0 1 1 1 0 PART III ACCOUNTING METHOD: SMALL DONOR EVENT 117251 117251 99853 13524 117251 117251 99853 13524 113377 -113377 X X X X X 0 0 0 0 0 0 0 0 0 JAY XU DIRECTOR & CEO 527479 0 69731 0 0 0 51537 0 18179 0 666926 0 0 0 ROB MINTZ DEPUTY DIRECTOR OF ART & PROGRAMS 217093 0 0 0 0 0 45979 0 17315 0 280387 0 0 0 SARA LEE CHIEF FINANCIAL OFFICER 241744 0 0 0 0 0 5777 0 0 0 247521 0 0 0 KO KO ZIN BLDG GRD MAIN SUPERVISOR 152049 0 0 0 0 0 33998 0 36543 0 222590 0 0 0 BANAFSHEH PERRONE CHIEF OF STAFF 199344 0 0 0 0 0 4738 0 16653 0 220735 0 0 0 FORREST MCGILL SENIOR CURATOR 162760 0 0 0 0 0 34204 0 23443 0 220407 0 0 0 CALEN MCELDOWNEY DIRECTOR OF MUSEUM SECURITY 157946 0 0 0 0 0 32954 0 22375 0 213275 0 0 0 YAEL EYTAN CHIEF MARKETING & COMMUNICATIONS OFF 192665 0 0 0 0 0 4623 0 14131 0 211419 0 0 0 CAROL SHERPA CONSTRUCTION PROJECT MANAGER 166915 0 0 0 0 0 3598 0 9943 0 180456 0 0 0 JODY HART DIRECTOR OF IT 150973 0 0 0 0 0 3598 0 17309 0 171880 0 0 0 A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY 352273601 2011-02-11 96985000 REFUND BONDS ISSUED 2/3/2005 0 0 0 A 20255000 96985000 6473584 1439 96983561 2016 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 1 JP MORGAN CHASE 18.800000000000 1 0 1 A 1 SCHEDULE K, PART IV: INTERIM ARBITRAGE REBATE COMPUTATION WAS PERFORMED: 8/26/22 X 14 397290 FMV X 1 4980 FMV X AIRFARE 7 7575 FMV X HOTEL ACCOMMODATIONS 6 5600 FMV 0 0 1 0 PART I, COLUMN (B): THIS NUMBER REPRESENTS THE NUMBER OF CONTRIBUTORS, NOT THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE OFFICE MAKES AVAILABLE AND SENDS THE PUBLIC DISCLOSURE COPY OF THE FORM 990 TO THE AUDIT COMMITTEE OF THE FOUNDATION BOARD FOR REVIEW AND APPROVAL BEFORE FILING. WE ALSO SEND THE PUBLIC DISCLOSURE COPY OF THE FORM 990 TO THE FULL FOUNDATION BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY COVERS BOARD MEMBERS AND STAFF. TRUSTEES ARE ASKED TO INFORM THE BOARD IN ADVANCE AND AS FULLY AS PRACTICABLE OF ANY TRANSACTIONS WITH THE MUSEUM OR THROUGH A BUSINESS RELATIONSHIP WITH AN ASIAN ART COMMISSIONER OR A FOUNDATION TRUSTEE IN WHICH THEY HAVE AN ECONOMIC INTEREST IN ORDER FOR THE TRUSTEES TO REVIEW AND APPROVE OR DISAPPROVE THE TRANSACTION. IF A CONFLICT IS DETERMINED TO EXIST, THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR'S COMPENSATION IS STIPULATED BY AN EMPLOYMENT CONTRACT WITH THE ORGANIZATION. THE CHAIR OF THE BOARD AND THE COMPENSATION COMMITTEE NEGOTIATE THIS EMPLOYMENT CONTRACT WITH THE DIRECTOR PRIOR TO ITS APPROVAL BY THE FULL BOARD. THE BOARD'S COMPENSATION COMMITTEE RELIES UPON SURVEY DATA FROM OTHER LIKE ARTS ORGANIZATIONS TO DETERMINE THE MARKET VALUE OF THE DIRECTOR'S POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIAL STATEMENTS AND THE PUBLIC DISCLOSURE COPY OF FORM 990S ARE POSTED TO THE ASIAN ART MUSEUM WEBSITE. ALL OTHER INFORMATION IS PROVIDED TO THE PUBLIC UPON REQUEST. CHARITABLE REMAINDER TRUSTS (3) INVESTMENT CA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0