2023-11-14T16:48:29-06:00 2022-12-31 911194016 CLARK NUBER PS 10900 NE 4TH STREET SUITE 1400 BELLEVUE WA 98004 990PF 2022-01-01 954664939 THE BROAD ART FOUNDATION BROA 3109545026 300 SOUTH GRAND AVENUE 1800 LOS ANGELES CA 90071 JULIE BAKER TRUSTEE 3109545026 2023-11-14 1 JULIE BAKER 999009999 0 JENNIFER BECKER HARRIS P00183358 4254544919 2023-11-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X 1821286731 X 0 X 3672 4090 3672 961785 2398946 961785 1383289 2595120 0 0 62528 11805 99 2411274 2414841 965556 320000 0 0 320000 119845 0 0 119845 40984 0 0 33830 10836 0 0 9815 78678 39339 39339 35319 300742 134090 134090 170617 8500 1 0 8500 1493 0 0 1578 41713 0 0 42312 351 0 0 351 1005394 208278 9336 1004388 1928536 381708 182765 1746555 2739676 12180000 4668212 381708 182765 13926555 -2256938 2033133 782791 36456 84423 84423 108342880 56565045 56565045 293140 293140 293140 28000000 110132 5200000 5200000 1857309 9455997 9455997 38509787 47047101 47047101 551010488 593003488 1702641025 727867052 711649194 1821286731 58965 92145 21440324 12000000 155997 93568 21655286 12185713 X 706211766 699463481 706211766 699463481 727867052 711649194 706211766 -2256938 0 703954828 4491347 699463481 PASS THROUGH INVESTMENTS P 2021-01-01 2022-12-31 1979965 2053281 -73316 -73316 ALTERNATIVE INVESTMENTS (LONG TERM) P 2021-01-01 2022-12-31 615155 615155 0 0 PASS THRU INVESTMENTS DISTRIB IN EXCESS OF BASIS P 2021-01-01 2022-12-31 8010 8010 8010 TERMINATION OF PRIME FINANCE PARTNERS III, LP P 2021-01-01 2022-03-31 27032 331642 -304610 -304610 -369916 0 28261 0 28261 0 28261 60798 0 0 0 60798 X 0 32537 32537 0 0 0 0 0 0 0 0 0 0 0 1 1 CA 1 1 0 0 0 1 N/A JULIE BAKER FOFS 3109545026 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 EDYTHE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 2.00 0 0 0 JOANNE HEYLER 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE, DIRECTOR/CHIEF CURATOR 20.00 320000 10980 0 GERUN RILEY 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 2.00 10000 357 0 JULIE BAKER 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 TRUSTEE 2.00 22500 1745 0 ALYSA GERLACH 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 COO (PART YEAR) 6.00 53957 2928 0 0 FAMILY OFFICE FINANCIAL SERVICES 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 ACCTG, TAX, TECHNOLOGY & HR 170617 FAMILY OFFICE INVESTMENT SERVICES LLC 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 INVESTMENT MGT 124454 ERNST & YOUNG LLP 200 PLAZA DRIVE SECAUCUS NJ 07094 ACCOUNTING AND FINANCE 50819 0 ART ACQUISITION FOR LOAN PROGRAM 44193000 ART EXHIBITION, STUDY, AND LOAN PROGRAM (SEE ATTACHED DESCRIPTION OF ACTIVITIES) 1746555 0 8635493 80737756 45351322 134724571 0 0 134724571 2020869 132703702 6635185 X 13926555 0 44193000 58119555 1998-04-30 X 782791 49500 463320 1142545 2438156 665372 42075 393822 971163 2072433 58119555 18470353 17277216 39676596 133543720 12180000 12087500 12167500 12535908 48970908 45939555 6382853 5109716 27140688 84572812 0 0 4423457 2995195 2245221 2664087 12327960 0 0 0 0 EDYTHE BROAD X 826LA 1714 WEST SUNSET BOULEVARD LOS ANGELES CA 90026 PC GENERAL SUPPORT 5000 HAMMER MUSEUM 10899 WILSHIRE BOULEVARD LOS ANGELES CA 90024 PC GENERAL SUPPORT 25000 LOS ANGELES COUNTY MUSEUM OF ART 5905 WILSHIRE BOULEVARD LOS ANGELES CA 90036 PC EXHIBITION SUPPORT 75000 MUSEUM OF CONTEMPORARY ART 250 S GRAND AVE LOS ANGELES CA 90012 PC GENERAL SUPPORT 25000 PORTLAND ART MUSEUM 1219 SW PARK AVE PORTLAND OR 97205 PC EXHIBITION SUPPORT 50000 THE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 POF OPERATING SUPPORT 12000000 12180000 0 14 3672 14 961785 15 99 18 1383289 DEFERRED TAX BENEFIT 01 62429 0 2411274 0 2411274 0 0 0 0 0 0 0 0 0 0 ACCOUNTING FEES 78678 39339 39339 35319 THE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 2021-12-31 12000000 OPERATING SUPPORT 12000000 TO OUR KNOWLEDGE, NO FUNDS HAVE BEEN DIVERTED 06/23/22 THE BROAD 300 SOUTH GRAND AVENUE SUITE 1800 LOS ANGELES CA 90071 2022-12-31 12000000 OPERATING SUPPORT 12000000 TO OUR KNOWLEDGE, NO FUNDS HAVE BEEN DIVERTED 06/27/23 SUMMARY OF DIRECT CHARITABLE ACTIVITIES FORM 990-PF, PART IX-A THE BROAD ART FOUNDATION IS A PRIVATE OPERATING FOUNDATION CREATED IN 1984 (ON JULY 1, 1999, BASED ON AN IRS RULING RECEIVED 4/30/98, ALL THE ASSETS OF THE ELI BROAD FAMILY FOUNDATION WERE TRANSFERRED TO A NEWLY FORMED TRUST, THE BROAD ART FOUNDATION). THE PURPOSE OF THE FOUNDATION IS TO BUILD A COLLECTION OF CONTEMPORARY ART FOR LOAN TO MUSEUMS AND UNIVERSITY AND COLLEGE ART GALLERIES. NOW IN ITS THIRTY-EIGHT YEAR OF ACTIVITY, THE FOUNDATION IS AN EDUCATIONAL AND LENDING RESOURCE PROMOTING KNOWLEDGE AND APPRECIATION OF THE BEST OF CONTEMPORARY ART AND FACILITATING THE EXHIBITION PROGRAMMING OF EXISTING ART INSTITUTIONS.THE COLLECTIONTHROUGH THE SELECTIVE ACQUISITION OF KEY WORKS OF CONTEMPORARY ART, THE FOUNDATION CONTINUES ITS ONGOING COMMITMENT TO THE GROWTH OF ITS COLLECTION. TARGETING LATE 20TH AND EARLY 21ST CENTURY ARTISTIC DEVELOPMENTS, THE FOUNDATION STRIVES TO COLLECT WORKS OF UNPARALLELED IMPORTANCE IN THE RECENT HISTORY OF AMERICAN ART. DURING 2022, THE FOUNDATION BROADENED ITS HOLDINGS OF SEVERAL KEY ARTISTS, INCLUDING SHIRIN NESHAT, MARK GROTJAHN AND MICKALENE THOMAS. THE NUMBER OF WORKS IN THE COLLECTION TOTALS 1,496. PUBLIC ACCESSIBILITYTHE FOUNDATION MOVED FROM ITS ORIGINAL OFFICE AND EXHIBITION SPACE, WHICH IT HAD OCCUPIED SINCE 1988, INTO ITS NEW HEADQUARTERS AT THE BROAD MUSEUM IN DOWNTOWN LOS ANGELES ON MAY 15, 2015. IN ITS ORIGINAL SPACE, THE FOUNDATION HAD LIMITED ABILITY TO MAKE ITS ARTWORKS AVAILABLE FOR VIEW EITHER TO THE PUBLIC OR TO ART PROFESSIONALS. THE SPACE WAS NOT LARGE ENOUGH TO HOLD ALL THE WORKS IN THE COLLECTION, SO MOST WERE STORED IN CRATES OFF SITE. THIS MEANT THAT MUSEUM PERSONNEL WISHING TO BORROW OR SCHOLARS WISHING TO STUDY WORKS OF ART EITHER HAD TO WORK FROM PHOTOGRAPHS OR THAT FOUNDATION STAFF HAD TO GO TO A STORAGE FACILITY, UNCRATE THE ARTWORK AND BRING THE ART PROFESSIONAL TO SEE IT, SOMETHING THAT WAS INEFFICIENT AND NOT OPTIMAL FOR THE PRESERVATION OF THE ART. FURTHER, THE ORIGINAL BUILDING WAS A PRIVATE FACILITY OPEN ONLY BY APPOINTMENT. WITH ITS MOVE TO THE BROAD, THE FOUNDATION IMMEDIATELY AND SIGNIFICANTLY INCREASED THE ACCESSIBILITY OF THE COLLECTION. THE GALLERIES OF THE BROAD MUSEUM DISPLAY A LARGE NUMBER OF LOANS FROM THE BROAD ART FOUNDATION, ALLOWING BOTH THE PUBLIC AND ART PROFESSIONALS TO SEE THE WORKS FIRSTHAND, IN SITU. IN ADDITION, THE BROAD WAS DELIBERATELY DESIGNED WITH STATE-OF-THE-ART, ON-SITE STORAGE FACILITIES THAT ALLOW CONSOLIDATION OF THE COLLECTION UNDER ONE ROOF AND PERMIT ART PROFESSIONALS EASILY AND EFFICIENTLY TO VIEW THE ORIGINAL WORKS. THE GREATLY ENHANCED ACCESSIBILITY SERVES TO ENCOURAGE THE STUDY AND LENDING OF WORKS FROM THE BROAD ART FOUNDATION COLLECTION TO OTHER PUBLIC INSTITUTIONS.LOAN ACTIVITYTHE CENTERPIECE OF THE FOUNDATION'S ACTIVITIES IS ITS LENDING PROGRAM. IN 2022, IN ADDITION TO THE BROAD, 18 PUBLIC VENUES AVAILED THEMSELVES OF 110 FOUNDATION LOANS. AMONG THE MAJOR MUSEUMS AND ARTS INSTITUTIONS BORROWING FROM THE FOUNDATION WERE: LOS ANGELES COUNTY MUSEUM OF ART, MINNEAPOLIS INSTITUTE OF ARTS, MUSEO JUMEX, MUSEU DE ARTE CONTEMPORANEA DE SERRALVES, NATIONAL UNDERGROUND RAILROAD FREEDOM CENTER, THE JEWISH MUSEUM, PHILADELPHIA MUSEUM OF ART, WHITNEY MUSEUM OF AMERICAN ART. FORM 990PF, PART VII-B, LINE 1A(3) STATEMENTS REGARDING ACTIVITIES FOR WHICH FORM 4720 MAY BE REQUIREDPART VII-B, LINE 1A(3)THERE ARE DISQUALIFIED PERSONS WHO FURNISH THE FOUNDATION WITH IN-KIND SERVICES IN ORDER TO GOVERN THE FOUNDATION'S CHARITABLE ACTIVITIES. THE SERVICES ARE PROVIDED FREE OF CHARGE. THESE ACTIVITIES ARE NOT AN ACT OF SELF-DEALING AS CODIFIED IN IRC SECTION 4941(D)(2)(C). FORM 990PF, PART VII, LINE 1 AND 3 PER THE FORM INSTRUCTIONS, AN ALLOCATION OF TRUSTEE SALARIES HAVE BEEN DISCLOSED ON PART VII, LINE 1 WHICH ARE PAID BY THE FOUNDATION TO FAMILY OFFICE FINANCIAL SERVICES THROUGH A SERVICES AGREEMENT. THE COMPENSATION IS FOR SERVICES THE TRUSTEES PROVIDE TO THE FOUNDATION SEPARATE FROM THEIR DUTIES AS A TRUSTEE. NO ADJUSTMENTS HAVE BEEN MADE TO THE AMOUNTS ON PART I LINE 13 OR PART VII LINE 3. STREETTRACKS GOLD TRUST 1842969 1842969 SANDS GLOBAL GROWTH 7613028 7613028 INTERNATIONAL FIXED INCOME FMV 21411969 21411969 DISTRESSED - PRIVATE EQUITY FMV 10531787 10531787 REAL ESTATE AND HARD ASSETS FMV 347335 347335 VENTURE CAPITAL FMV 60347 60347 SECONDARIES FMV 1788044 1788044 DOMESTIC EQUITY FMV 12907619 12907619 LEGAL FEES 10836 0 0 9815 CURRENT ASSETS - ART 5200000 0 0 FINE ARTS COLLECTION AND ART LIBRARY 545810488 590003488 1699641025 UNSETTLED TRADE 0 3000000 3000000 UNREALIZED GAIN/LOSS 4491347 ART STORAGE 390333 0 0 386919 PAYROLL SERVICE 973 0 0 973 SHIPPING 63013 0 0 55682 INSURANCE 250333 0 0 269472 BANK FEES 9336 9336 9336 0 PASS THROUGH OTHER INVESTMENT EXPENSES 0 198942 0 0 POSTAGE & DELIVERY 237 0 0 212 SUPPLIES 418 0 0 418 LOCAL TRANSPORTATION 1194 0 0 1155 APPRAISAL 155225 0 0 155225 ART CONSERVATION & CARE 133537 0 0 133537 MEMBERSHIP DUES & PROFESSIONAL LICENSES 795 0 0 795 PASS THROUGH OTHER INV INC. 0 11706 0 ROYALTIES 99 99 99 DEFERRED TAX BENEFIT 62429 0 DEFERRED TAX LIABILITY 155997 93568 INVESTMENT MANAGEMENT FEES 134090 134090 134090 0 PROFESSIONAL SERVICE FEES 166652 0 0 170617 EXCISE TAXES 7500 0 0 7500 STATE TAXES 1000 0 0 1000 FOREIGN TAXES 0 1 0 0