2023-08-15T13:38:16-05:00 2022-09-30 450250958 EIDE BAILLY LLP 2355 E CAMELBACK RD STE 900 PHOENIX AZ 850169065 990 2021-10-01 860107517 THE HEARD MUSEUM HEAR 6022528840 2301 N CENTRAL AVE PHOENIX AZ 85004 DAVID ROCHE DIRECTOR & CEO 6022528840 2023-08-14 1 DAVID ROCHE 999009999 BRENDA ANN BLUNT CPA P00075126 4803151040 2023-08-14 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z DAVID ROCHE 2301 N CENTRAL AVE PHOENIX AZ 85004 17520030 0 X WWW.HEARD.ORG X 1929 AZ THE MISSION OF THE HEARD MUSEUM IS TO BE THE WORLD'S PREEMINENT MUSEUM FOR THE (CONT'D ON SCH. O) PRESENTATION, INTERPRETATION AND ADVANCEMENT OF AMERICAN INDIAN ART, EMPHASIZING ITS INTERSECTION WITH BROADER ARTISTIC AND CULTURAL THEMES. 31 31 117 386 0 0 11316167 7979390 1591557 2013067 178515 123438 1033886 1510229 14120125 11626124 0 0 0 0 3675102 4890854 0 0 1182579 4200617 5911589 7875719 10802443 6244406 823681 36442009 34512085 4333292 3029837 32108717 31482248 X THE MISSION OF THE HEARD MUSEUM IS TO BE THE WORLD'S PREEMINENT MUSEUM FOR THE PRESENTATION, INTERPRETATION AND ADVANCEMENT OF AMERICAN INDIAN ART, EMPHASIZING ITS INTERSECTION WITH BROADER ARTISTIC AND CULTURAL THEMES. 0 0 7584586 3229518 SINCE ITS FOUNDING IN 1929, THE HEARD MUSEUM HAS GROWN IN SIZE AND STATURE TO BECOME RECOGNIZED INTERNATIONALLY FOR THE QUALITY OF ITS COLLECTIONS, WORLD-CLASS EXHIBITIONS, EDUCATIONAL PROGRAMMING AND ITS UNMATCHED FESTIVALS. DEDICATED TO THE ADVANCEMENT OF AMERICAN INDIAN ART, THE HEARD SUCCESSFULLY PRESENTS THE STORIES OF AMERICAN INDIAN PEOPLE FROM A FIRST-PERSON PERSPECTIVE, AS WELL AS EXHIBITIONS THAT SHOWCASE THE BEAUTY AND VITALITY OF TRADITIONAL AND CONTEMPORARY ART. THE HEARD MUSEUM SETS THE STANDARD FOR COLLABORATING WITH AMERICAN INDIAN ARTISTS AND TRIBAL COMMUNITIES TO PROVIDE VISITORS WITH A DISTINCTIVE PERSPECTIVE ABOUT THE ART OF NATIVE PEOPLE, ESPECIALLY THOSE FROM THE SOUTHWEST. THE HEARD ACCOMPLISHES ITS MISSION BY: ORGANIZING EXHIBITS THAT SHOWCASE BOTH ITS COLLECTION (CONT'D ON SCH O) OF MORE THAN 45,000 FINE ARTWORKS AND CULTURAL ARTS IN ITS PERMANENT COLLECTION AND ARTWORKS FROM OTHER MUSEUMS; HOLDING SPECIAL EVENTS THAT HIGHLIGHT ONE OR MORE ASPECTS OF NATIVE ART, CULTURES, AND/OR HISTORY; HOSTING APPROXIMATELY 8,500 SCHOOL CHILDREN TOURING THE MUSEUM EACH YEAR; SUPPORTING THE CAREERS OF AMERICAN INDIAN ARTISTS IN THE HEARD MUSEUM SHOPS AND BOOKS & MORE, A BOUTIQUE BOOKSTORE AND GIFT SHOP; OFFERING INDIGENOUS INGREDIENTS WITHIN THE MENU OF THE MUSEUM'S CAFE AND COFFEE CANTINA; AND OFFERING PROGRAMMING SUCH AS LECTURES, BOOK SIGNINGS AND PRESENTATIONS BY EXPERTS IN ART, HISTORY, AND CULTURES. APPROXIMATELY 94,000 PEOPLE VISITED THE MUSEUM DURING THE YEAR. 7584586 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 143 0 1 117 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 31 31 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X ROBIN KLUNG 6022528840 2301 N CENTRAL AVE PHOENIX AZ 85004 JOHN LOMAX CHAIR 4.00 X X 0 0 0 JOHN COGGINS VICE CHAIR 4.00 X X 0 0 0 KAREN ABRAHAM TREASURER 4.00 X X 0 0 0 GINGER SYKES TORRES SECRETARY 4.00 X X 0 0 0 ADRIAN COHEN TRUSTEE 1.00 X 0 0 0 CHRISTY VEZOLLES TRUSTEE 1.00 X 0 0 0 CRAIG COHEN MD TRUSTEE 1.00 X 0 0 0 DAVID HANSEN TRUSTEE 1.00 X 0 0 0 DAVID WILSHIN TRUSTEE 1.00 X 0 0 0 ELIZABETH MURFEE DECONCINI TRUSTEE 1.00 X 0 0 0 GREGORY BOYCE TRUSTEE 1.00 X 0 0 0 JAMES HUNTWORK TRUSTEE 1.00 X 0 0 0 JANE PRZESLICA TRUSTEE (THRU 04/2022) 1.00 X 0 0 0 JANIS LYON TRUSTEE 1.00 X 0 0 0 JOHN FURTH TRUSTEE 1.00 X 0 0 0 JOHN GRAHAM TRUSTEE 1.00 X 0 0 0 JOHN MELAMED TRUSTEE 1.00 X 0 0 0 JOHN MILLER TRUSTEE 1.00 X 0 0 0 JUDY DWORKIN TRUSTEE 1.00 X 0 0 0 LELAND W PETERSON TRUSTEE 1.00 X 0 0 0 MARIGOLD LINTON TRUSTEE 1.00 X 0 0 0 NADINE BASHA TRUSTEE 1.00 X 0 0 0 PAIGE ROTHERMEL TRUSTEE 1.00 X 0 0 0 ROBERT A COWIE TRUSTEE 1.00 X 0 0 0 SCOTT MONTGOMERY TRUSTEE 1.00 X 0 0 0 SHARRON LEWIS TRUSTEE 1.00 X 0 0 0 STEPHEN R LEWIS TRUSTEE 1.00 X 0 0 0 SUSAN ESCO CHANDLER TRUSTEE 1.00 X 0 0 0 TONY ASTORGA TRUSTEE 1.00 X 0 0 0 TREVOR REED TRUSTEE 1.00 X 0 0 0 TRUDY WIESENBERGER TRUSTEE 1.00 X 0 0 0 WILLIAM RIDENOUR TRUSTEE 1.00 X 0 0 0 DAVID ROCHE DIRECTOR AND CEO 40.00 X 305676 0 7487 TRICIA SHIELDS CFO 40.00 X 0 0 0 JOHN BULLA COO 40.00 X 200978 0 8532 DANIEL HAGERTY DIRECTOR STRATEGIC DEVELOPMENT 40.00 X 149533 0 20466 DIANA PARDUE CHIEF CURATOR 40.00 X 112908 0 1851 BRUCE MCGEE DIRECTOR RETAIL OPERATIONS 40.00 X 100027 0 3635 869122 0 41971 5 0 1 0 OKLAND CONSTRUCTION 1700 N MCCLINTOCK TEMPE AZ 85281 CONSTRUCTION SERVICES 1222629 LANE TERRALEVER 645 E MISSOURI AVE STE 400 PHOENIX AZ 85012 ADVERTISING & PROMOTION 495743 AFFIRMATIVE TECHNOLOGY GROUP 2209 W 1ST ST STE A109 TEMPE AZ 85281 INFORMATION TECHNOLOGY SERVICES 248654 PRO EM LLC 1450 E GRANT ST PHOENIX AZ 85034 EVENT MANAGEMENT SERVICES 163984 DLR GROUP INC 6225 N 24TH STE 250 PHOENIX AZ 85016 CONSTRUCTION DESIGN SERVICES 143347 5 1049656 904724 229094 2201374 3594542 697527 7979390 ADMISSIONS 611710 1233185 1233185 PRIVATE USE FEES 721000 556462 556462 FAIR INCOME 900099 218040 218040 EDUCATION FEES 611710 5380 5380 2013067 122074 122074 1513 1513 4122884 4121520 1364 1364 1364 112720 904724 168128 -55408 -55408 5384 0 5384 5384 3162998 1604258 1558740 1216451 342289 11626124 3229518 0 417216 X 737185 255052 283502 198631 3635269 2724732 438445 472092 218493 184505 14152 19836 299907 215781 46052 38074 13742 13742 62151 62151 96081 96081 1242168 718510 310458 213200 455413 173500 274072 7841 265078 151696 18665 94717 159058 90484 38420 30154 597979 499246 82507 16226 22862 15065 7257 540 30731 30731 1184028 1089306 59201 35521 152444 59546 92898 FESTIVALS 368237 368237 EXHIBITIONS 339153 339153 DUES, LICENSES, AND SUB 224477 156951 60353 7173 SUPPLIES 221067 178081 35512 7474 476920 364741 71079 41100 10802443 7584586 2035278 1182579 2553512 1837341 7365668 6335982 3630089 240000 24977 3239 1226922 1121672 140838 173374 46015184 31825511 13088505 14189673 8312974 10527392 98524 83412 36442009 34512085 626149 1441704 1873415 636287 916123 844175 824617 0 92988 107671 4333292 3029837 X 20379183 21352208 11729534 10130040 32108717 31482248 36442009 34512085 X 823681 -1451641 1491 X 0 1 X 1 1 1 X 4278315 4934413 5972794 11316167 7979390 34481079 4278315 4934413 5972794 11316167 7979390 34481079 11109863 23371216 306536 336926 284534 124392 123587 1175975 20996 34287 18291 73574 35730628 24322540 0.65410 0.55280 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2017 AMOUNT: $ 20,996. 2018 AMOUNT: $ 34,287. 2019 AMOUNT: $ 18,291. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 1 7321211 1000000 -1306488 306505 6708218 9576141 1792818 336604 126 11032229 9428253 104073 457948 414133 9576141 9797361 78270 447378 9428253 10020798 6500 759969 989906 9797361 0.16870 0.83130 0.00000 1 1 1 22512378 14593058 7919320 8078386 4958551 3119835 3046146 2542691 503455 12378274 9731211 2647063 14189673 DEPOSITS 107671 107671 X 11020447 -1451641 82472 859573 -509596 11530043 96081 96081 11626124 12561220 82472 1772386 1854858 10706362 96081 96081 10802443 PART III, LINE 1A: THE COLLECTIONS OF THE MUSEUM INCLUDE SEVERAL CATEGORIES OF NATIVE AMERICAN ART, PRIMARILY KACHINA DOLLS, BASKETS, JEWELRY, TEXTILES, CERAMICS, AND FINE ART, AS WELL AS COLLECTIONS FROM OTHER INDIGENOUS PEOPLES OF LATIN AMERICA, AFRICA AND OCEANIA, AND ARE EXPENSED IN THE PERIOD PURCHASED. IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, ART OBJECTS CONTRIBUTED TO THE MUSEUM ARE NOT INCLUDED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. FURTHERMORE, IN CONFORMITY WITH INDUSTRY PRACTICE, THE MUSEUM HAS NOT RECORDED THE VALUE OF ITS COLLECTIONS ON THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION. THE FAIR VALUE OF CERTAIN COLLECTIONS IS DETERMINED BASED ON THIRD PARTY EVIDENCE OF COMPARABLE ART SOLD THROUGH AUCTION HOUSES. THE FAIR VALUE OF COLLECTIONS CONTRIBUTED TO THE MUSEUM DURING THE YEAR ENDED SEPTEMBER 30, 2022 WAS $790,167. PART III, LINE 4: THE CORPORATION MAINTAINS A MUSEUM IN THE CITY OF PHOENIX DEDICATED TO THE ADVANCEMENT OF AMERICAN INDIAN ART. THE HEARD MUSEUM ART COLLECTION CONCENTRATES ON THE LIVES OF NATIVE PEOPLES AND CONSISTS OF MORE THAN 45,000 OBJECTS. THE TWO FOCAL AREAS OF THE COLLECTION ARE COMPREHENSIVE CULTURAL COLLECTIONS FROM THE GREATER SOUTHWEST AND CONTEMPORARY NATIVE FINE ART FROM NORTH AMERICA. KEY COLLECTIONS INCLUDE HOPI KATSINA DOLLS; NAVAJO AND ZUNI JEWELRY, NAVAJO TEXTILES, SOUTHWESTERN CERAMICS FROM PREHISTORY TO THE PRESENT, AND BASKETS FROM THE SOUTHWEST, CALIFORNIA, THE GREAT BASIN AND THE NORTHWEST. THE APPROXIMATELY 4,000 FINE ART WORKS IN THE HEARD MUSEUM COLLECTION DOCUMENT THE AMERICAN INDIAN FINE ART MOVEMENT FROM THE 20TH CENTURY TO THE PRESENT, AND INCLUDE WORK BY SOME OF THE FINEST HISTORIC AND CONTEMPORARY AMERICAN INDIAN ARTISTS. PART V, LINE 4: THE INTENDED USE OF THE ENDOWMENT FUNDS IS TO PROVIDE FOR THE FUTURE FINANCIAL STRENGTH OF THE ORGANIZATION. PART X, LINE 2: MANAGEMENT BELIEVES THAT EACH ENTITY HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF GIFT ANNUITY 1,491. REMOVAL OF HEARD MUSEUM TRUST ACTIVITY -801,583. COGS 1,604,258. FUNDRAISING EXPENSES 55,407. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 1,604,258. FUNDRAISING EXPENSES 168,128. FORM 990, SCHEDULE D, PART V THE BEGINNING OF YEAR ENDOWMENT BALANCE DIFFERS FROM THE PRIOR YEAR ENDING BALANCE DUE TO THE REMOVAL OF ENDOWMENTS HELD BY THE HEARD FAMILY ENDOWMENT TRUST AND CERTAIN PRIOR PERIOD ADJUSTMENTS. MOONDANCE GALA 1017444 904724 112720 85263 7925 74940 1017444 904724 112720 85263 7925 74940 168128 -55408 X X X 0 0 0 0 0 0 0 1 0 DAVID ROCHE DIRECTOR AND CEO 280376 0 25300 0 0 0 0 0 8135 0 313811 0 0 0 JOHN BULLA COO 180678 0 20300 0 0 0 0 0 9180 0 210158 0 0 0 DANIEL HAGERTY DIRECTOR STRATEGIC DEVELOPMENT 139233 0 10300 0 0 0 0 0 21114 0 170647 0 0 0 PART I, LINE 7 BONUSES WERE APPROVED BY THE BOARD OF TRUSTEES TO RECOGNIZE OUTSTANDING PERFORMANCE AND TO PARTIALLY COMPENSATE FOR THE 20-25% SALARY REDUCTIONS TAKEN AS A RESULT OF COST-CUTTING MEASURES DURING THE PANDEMIC, AND WERE PAID ONLY WHEN IT WAS DETERMINED THAT MUSEUM FINANCES WERE STABLE AND THERE WERE ADEQUATE FUNDS. X 22 0 X 0 X 9 614748 FMV X 42 82779 FMV 9 0 1 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN B IS THE NUMBER OF CONTRIBUTIONS. PART I, LINE 33: DURING THE YEAR, THE ORGANIZATION RECEIVED $790,167 OF WORKS OF ART, BOOKS, AND PUBLICATIONS DONATED TO ITS COLLECTION DURING THE YEAR ENDED SEPTEMBER 30, 2022. IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, AND ALLOWED UNDER FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION ("ASC") 958-360-25, OBJECTS CONTRIBUTED TO THE ORGANIZATION ARE NOT INCLUDED AS REVENUE OR EXPENSES ON FORM 990, PART VIII OR IX. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE BOARD OFFICERS, THE IMMEDIATE PAST BOARD CHAIR, IF STILL A TRUSTEE, AND THE COMMITTEE CHAIR OF EACH STANDING COMMITTEE OTHER THAN THE AUDIT COMMITTEE. WHENEVER, IN THE JUDGMENT OF THE BOARD CHAIR, BOARD ACTION IS NECESSARY OR APPROPRIATE AND IT IS NOT PRACTICAL TO CALL A SPECIAL MEETING OF THE BOARD, THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL THE AUTHORITY OF THE BOARD, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE AUTHORITY TO: (I) APPOINT OR REMOVE THE DIRECTOR; (II) ELECT OR REMOVE TRUSTEES; (III) AMEND THE BYLAWS; (IV) SELL, LEASE OR OTHERWISE DISPOSE OF REAL OR PERSONAL PROPERTY WITH A VALUE IN EXCESS OF $1,000,000; OR (V) INCUR ANY DEBT OR OTHER OBLIGATION OR LIABILITY IN EXCESS OF $500,000. IN ADDITION, BEFORE TAKING ANY ACTION WHICH THE EXECUTIVE COMMITTEE KNOWS (A) WOULD BE CONTROVERSIAL IF CONSIDERED BY THE FULL BOARD OR (B) MIGHT ADVERSELY AFFECT THE STANDING OR REPUTATION OF THE MUSEUM, THE EXECUTIVE COMMITTEE SHOULD DETERMINE WHETHER THERE IS AN EMERGENCY OR OTHER CIRCUMSTANCE REQUIRING SUCH ACTION TO BE TAKEN BY THE EXECUTIVE COMMITTEE RATHER THAN THE FULL BOARD AND REPORT SUCH FINDINGS IN THE MINUTES REGARDING SUCH ACTION. FORM 990, PART VI, SECTION A, LINE 6 THE HEARD MUSEUM GUILD HAS BEEN ESTABLISHED AND MAINTAINED WITHIN THE CORPORATE STRUCTURE OF THE MUSEUM FOR THE PURPOSES OF ENCOURAGING PARTICIPATION BY MEN AND WOMEN SYMPATHETIC TO THE AIMS OF THE MUSEUM, FURTHERING THE OBJECTIVES OF THE MUSEUM, PROMOTING INTEREST IN AND SUPPORT FOR THE MUSEUM AND ASSISTING THE BOARD AND THE MUSEUM STAFF IN THE PERFORMANCE OF THEIR FUNCTIONS. MEMBERS OF THE HEARD MUSEUM GUILD ELECT THEIR OWN OFFICERS AND REPRESENTATIVES. THE PRESIDENT OF THE HEARD MUSEUM GUILD IS A FULL VOTING MEMBER OF THE BOARD OF THE HEARD MUSEUM. THE ORGANIZATION SELLS OTHER MEMBERSHIPS, WITH CERTAIN MEMBERSHIP BENEFITS, BUT THE HEARD MUSEUM GUILD IS THE ONLY MEMBERSHIP TYPE THAT PARTICIPATES IN THE HEARD MUSEUM'S GOVERNANCE AND THEN, ONLY BY VIRTUE OF HAVING AN ELECTED POSITION ON THE HEARD MUSEUM'S BOARD. FORM 990, PART VI, SECTION A, LINE 7A AS DESCRIBED IN PART VI, LINE 6, THE PRESIDENT OF THE HEARD MUSEUM GUILD IS A FULL VOTING MEMBER OF THE BOARD OF THE HEARD MUSEUM. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND REVIEWED BY THE CFO, COO AND DIRECTOR/CEO, WITH A FINAL REVIEW BY THE AUDIT COMMITTEE AND DISTRIBUTION TO THE BOARD OF TRUSTEES BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS OR HER FINANCIAL INTEREST TO THE TRUSTEES AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST, THE INTERESTED PERSON SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE FINANCIAL INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IN ANY CASE WHERE THE HEARD ENTERS INTO A TRANSACTION IN WHICH A TRUSTEE IS AN INTERESTED PARTY, THE TRUSTEE SHALL NOT PARTICIPATE IN ANY DECISIONS CONCERNING THE SOURCE OF THE CONFLICT. THIS PROVISION SHALL ALSO APPLY IN ANY CASE WHERE A FAMILY MEMBER OF A TRUSTEE IS EMPLOYED BY OR IS A CONTRACTOR TO THE MUSEUM AND SHALL INCLUDE ANY DISCUSSIONS OR DECISIONS RELATED TO EMPLOYMENT OR OTHER ASSOCIATION, PERFORMANCE EVALUATION OR COMPENSATION OF A FAMILY MEMBER. EACH TRUSTEE AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON (A) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY,(B) HAS READ AND UNDERSTANDS THE POLICY,(C) HAS AGREED TO COMPLY WITH THE POLICY, AND(D) UNDERSTANDS THAT THE HEARD IS A TAX-EXEMPT ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE MINUTES OF THE BOARD AND ALL COMMITTEES WITH BOARD DELEGATED POWERS SHALL CONTAIN A RECORD OF ANY VOTES THE HEARD MUSEUM 86-0107517 TAKEN IN CONNECTION THEREWITH. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES APPROVES THE DIRECTOR/CEO SALARY BASED ON A REVIEW OF PERFORMANCE AND BENCHMARKING DATA AVAILABLE FROM THE ASSOCIATION OF ART MUSEUM DIRECTORS AND THE AMERICAN ALLIANCE OF MUSEUMS. IN SEPTEMBER 2021, THE BOARD OF TRUSTEES AND THE DIRECTOR/CEO ENTERED INTO A TWO-YEAR CONTRACT WITH AN INCREASE EFFECTIVE OCTOBER 2021. THE SALARY REMAINED UNCHANGED DURING THE FISCAL YEAR ENDED SEPTEMBER 2022. THE DIRECTOR/CEO ANNUALLY REVIEWS THE SALARY OF KEY EMPLOYEES, INCLUDING A COMPARISON OF THE COMPENSATION OF OTHER LOCAL NOT-FOR-PROFIT ORGANIZATIONS AND OTHER BENCHMARKING DATA. THIS PROCESS WAS LAST UNDERTAKEN IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ARTICLES OF INCORPORATION, BY-LAWS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 532,520. MANAGEMENT AND GENERAL EXPENSES 310,458. FUNDRAISING EXPENSES 213,200. TOTAL EXPENSES 1,056,178. CONTRACTS FEES - EVENT STAGING: PROGRAM SERVICE EXPENSES 185,990. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 185,990. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF ANNUITY 1,491. HEARD FAMILY ENDOWMENT TRUST 270 PARK NEW YORK NY 10017 946095432 INVESTMENT AZ 4947(A)(1) N/A THE HEARD MUSEUM 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 HEARD FAMILY ENDOWMENT TRUST C 229094 CASH TRANSFERRED