2022-04-12T18:59:08-05:00 2021-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2020-07-01 560670666 MINT MUSEUM OF ART INC MINT 7043372000 2730 RANDOLPH ROAD CHARLOTTE NC 28207 DR TODD A HERMAN PRESIDENT AND CEO 7043372000 2022-04-01 1 DR TODD A HERMAN 999009999 AMANDA ADAMS P00748038 7043771678 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DR TODD A HERMAN 2730 RANDOLPH ROAD CHARLOTTE NC 28207 8721968 0 X WWW.MINTMUSEUM.ORG X 1936 NC THE MINT MUSEUM IS A LEADING, INNOVATIVE MUSEUM OF INTERNATIONAL ART AND DESIGN COMMITTED TO ENGAGING AND INSPIRING ALL MEMBERS OF OUR GLOBAL COMMUNITY. THE MINT MUSEUM IS DEDICATED TO LEADERSHIP IN COLLECTING, EXHIBITING, CONSERVING, RESEARCHING, PUBLISHING, INTERPRETING, AND SHARING ART AND DESIGN FROM AROUND THE WORLD. THESE COMMITMENTS ARE CENTRAL TO THE MUSEUM'S CORE VALUES OF LEADERSHIP, INTEGRITY, INCLUSIVENESS, KNOWLEDGE, STEWARDSHIP, AND INNOVATION, PROMOTING UNDERSTANDING OF AND RESPECT FOR DIVERSE PEOPLES AND CULTURES. MUSEUM ADMISSION, SPECIAL EVENTS, LEARNING AND ENGAGEMENT PROGRAMS, AND OUTREACH INITIATIVES DEEPEN THE RELATIONSHIP BETWEEN THE ARTS AND CULTURE SECTOR AND THE DIVERSE COMMUNITY WE SERVE - REACHING OVER 500,000 PEOPLE THROUGH VISITATION AND ONLINE CHANNELS. 24 24 91 1700 64513 32968 5323732 6400647 398120 288242 51717 44916 1149893 449663 6923462 7183468 0 0 0 0 4328238 4381016 0 0 780216 5983800 5005556 10312038 9386572 -3388576 -2203104 80854701 87046895 2158028 2732734 78696673 84314161 X THE MINT MUSEUM WELCOMES ALL TO BE INSPIRED AND TRANSFORMED THROUGH THE POWER OF ART AND CREATIVITY. 0 0 7254987 383305 FOR THE MAJORITY OF FY21, THE MINT CONTINUED ITS CORE ACTIVITIES, INCLUDING EXPANDING ITS PERMANENT COLLECTIONS THROUGH IMPORTANT ACQUISITIONS; LAUNCHING NEW EXHIBITIONS COMPRISING WORKS FROM THE PERMANENT COLLECTIONS AND ON LOAN; ENGAGING VISITORS OF ALL AGES AND BACKGROUNDS THROUGH EDUCATION AND OUTREACH INITIATIVES; AND IMPLEMENTING NEW COMMUNICATION STRATEGIES, TECHNOLOGIES, AND METHODS TO REACH AND ENGAGE NEW AUDIENCES. SINCE THE COVID-19 PANDEMIC WE ADJUSTED OUR PROGRAMMING TO BE VIRTUAL AND TO ADHERE TO THE STATE MANDATED SOCIAL DISTANCING GUIDELINES FOR IN-PERSON GATHERINGS. WE EXTENDED THE EXHIBITION RUN OF CLASSIC BLACK: THE BASALT SCULPTURE OF WEDGWOOD AND HIS CONTEMPORARIES TO JANUARY 3, 2021, AT MINT MUSEUM RANDOLPH. THE MINT'S CURATORIAL TEAM WAS NIMBLE IN ADAPTING THE EXHIBITION SCHEDULE DUE TO EVER-CHANGING LOGISTICS. THE PANDEMIC PRESENTED AN OPPORTUNITY TO TAKE A FRESH LOOK AT THE MUSEUM'S HOLDINGS AND CELEBRATE THE DONORS AND COLLECTORS WHO HAVE CONTRIBUTED TO OUR DIVERSE COLLECTION, THROUGH NEW AND DYNAMIC EXHIBITIONS AT MINT MUSEUM UPTOWN:THE FIRST EXHIBITION NEW DAYS, NEW WORKS, ORGANIZED BY THE MINT, KICKED OFF A CELEBRATION OF GIFTS IN THE MINT'S PERMANENT COLLECTIONS: AMERICAN, CONTEMPORARY, CRAFT, DESIGN AND FASHION, AND DECORATIVE ARTS THAT REPRESENT THE BROAD DIVERSITY OF WORKS OF ART THAT DEFINE THE MINT MUSEUM. AS WE RETREATED TO OUR HOMES AMID A GLOBAL PANDEMIC, PERSPECTIVES SHIFTED, AND NEW VIEWS EVOLVED. NEW DAYS, NEW WORKS CELEBRATED THESE RENEWED PERSPECTIVES FOR OBJECTS THAT WE SURROUND OURSELVES WITH EACH DAY AND NEVER-BEFORE-SEEN WORKS OF ART FROM THE MINT'S COLLECTIONS, INCLUDING GIFTS FROM INDIVIDUAL AND CORPORATE DONORS. MORE THAN EIGHTY WORKS OF ART INCLUDING PHOTOGRAPHY AND SCULPTURES FROM INTERNATIONAL ARTISTS, VIVID PAINTINGS, FASHION ACCESSORIES, AND STUNNING CERAMICS EVOKE EMOTIONS AND FRESH PERSPECTIVES FOR A NEW WORLD.WE ALSO ACTIVATED THE ROBERT HAYWOOD MORRISON ATRIUM IN MINT MUSEUM UPTOWN WITH A MONUMENTAL INSTALLATION FORAGERS BY SUMMER WHEAT. SUMMER'S MYRIAD OF VIBRANT PANELS GIVES THE ILLUSION OF STAINED GLASS, FILL THE ATRIUM'S NINETY-SIX WINDOWS, AND WEAVE A STORY OF WOMEN WHO LABORED TO BUILD THE COMMUNITIES THAT FORM THE SPINE OF MODERN SOCIETY. ALL VISITORS TO THE MUSEUM MAY SEE THIS WORK OF ART FOR FREE. TO CELEBRATE MINT MUSEUM UPTOWN'S 10TH ANNIVERSARY, IN VIVID COLOR: PUSHING THE BOUNDARIES OF PERCEPTION IN CONTEMPORARY ART BROUGHT TOGETHER FOUR INNOVATIVE CONTEMPORARY ARTISTS WHO CREATED WORKS TO CELEBRATE THE POWER OF COLOR AND ITS TRANSFORMATIVE ABILITY TO PERMEATE THE SPACE AROUND US. THEIR WORK WAS JUXTAPOSED WITH A SELECTION OF PAINTINGS AND WORKS ON PAPER DRAWN PRIMARILY FROM THE MINT'S PERMANENT COLLECTION THAT STUDY ARTISTS' EXPLORATION OF COLOR IN MORE TRADITIONAL WAYS. THE EXHIBITION USED COLOR AS AN OPPORTUNITY TO INVESTIGATE HOW PEOPLE PERCEIVE A NON-FIXED REALITY: THE EVER-SHIFTING ENVIRONMENT IN WHICH WE MUST DISCERN THE REAL FROM THE ILLUSIONARY.W|ALLS: DEFEND, DIVIDE AND THE DIVINE OPENED IN FEBRUARY 2021 WHICH EXAMINED THE HISTORIC USE AND ARTISTIC TREATMENT OF WALLS OVER THE CENTURIESWHETHER THEY ARE MADE OF STONE, STEEL, SAND, OR WIRE. THE EXHIBITION BROUGHT TOGETHER SIXTY-SEVEN MAKERS FROM AROUND THE WORLD WITH 132 IMAGES, THE EARLIEST FROM 1897 AND THE MOST RECENT FROM JULY 2019. FURTHERMORE, THE EXHIBITION EXPLORED THE VARIOUS ASPECTS OF WALLSARTISTIC, SOCIAL, POLITICAL, AND HISTORICAL, AS WELL AS HOW THERE ARE LITERAL WALLS OR BARRIERS, SUCH AS FENCES OR SAND BERMS. FINALLY, SILENT STREETS: ART IN THE TIME OF PANDEMIC PRESENTED WORKS OF ART BY LOCAL, REGIONAL, NATIONAL, AND INTERNATIONAL ARTISTS WHO USED ART TO SURVEY AND TACKLE THE CHALLENGING TIMES. FROM COMIC STRIPS TO ABSTRACT PAINTING, THE EXHIBITION EMBRACED THE POTENTIAL OF ALL ART FORMS TO GRAPPLE WITH THE MOST URGENT ISSUES OF OUR DAY PROVIDING VIEWERS WITH BOTH SOLACE AND INSIGHT. FROM THE MOMENT THE CORONAVIRUS PANDEMIC FORCED PEOPLE INTO THEIR HOMES, ART BECAME A SOURCE OF SOLACE. WHEN ATTENTION SWERVED FROM COVID-19 TO A RECKONING WITH THE COUNTRY'S INJUSTICES AND SYSTEMIC RACISM, MANY ARTISTS FOLDED THIS URGENT CONSIDERATION INTO THEIR WORK.THESE EXHIBITIONS SERVED AS A LAUNCHING FOR THEMATIC IN-PERSON AND VIRTUAL PROGRAMMING. THE MUSEUM CONTINUED TO SUCCESSFULLY HOST VIRTUAL MINT TO MOVE AND BI-LINGUAL STORIES AND MUSIC COMMUNITY ENGAGEMENT PROGRAMS TO BUILD ON THE DEEP RELATIONSHIPS MADE WITH BOTH PARTNERS AND PARTICIPANTS. BI-LINGUAL STORIES AND MUSIC USES A COMBINATION OF BILINGUAL STORIES (SPANISH/ENGLISH), MUSIC, MUSICAL INSTRUMENTS, TOYS, PUPPETS, AND GAMES TO INTERACT WITH THE AUDIENCE. ADDITIONALLY, IN FY21 THE MINT LAUNCHED FREE ART KITS A FUN AND EASY PROJECT TO CREATE AT HOME. THE MONTHLY FREE ART KIT CORRESPONDS TO AN EXHIBITION ON VIEW OR A PIECE FROM THE MINT'S PERMANENT COLLECTION. TYPICALLY, ABOUT FIVE HUNDRED KITS ARE HANDED OUT TO THE PUBLIC EACH MONTH. WE HAVE ALSO PARTNERED WITH COMMUNITIES IN SCHOOLS CHARLOTTE TO DISTRIBUTE AN ADDITIONAL FOUR HUNDRED KITS TO THEIR ELEMENTARY SCHOLARS EACH MONTH; AND AN ADDITIONAL ONE HUNDRED ART KITS ARE DISTRIBUTED TO OUR GRIER HEIGHTS COMMUNITY YOUTH ARTS PROGRAM FAMILIES AND OTHER SMALLER GROUPS. FINALLY, TO ACTIVATE MINT MUSEUM RANDOLPH WE LAUNCHED PARTY IN THE PARK, HELD ON THE LAST SUNDAY OF EACH MONTH. VISITORS ENJOY FREE ADMISSION TO THE MUSEUM, FOOD TRUCKS, AND LIVE MUSIC ON THE FRONT TERRACE. THE MINT IS COMMITTED TO MAKING THE ARTS PART OF THE FABRIC OF DAILY LIFE AND SERVING AS A CULTURAL DESTINATION THROUGH INNOVATIVE EXHIBITIONS, PROGRAMS, AND OUTREACH THAT STIMULATE NEW WAYS OF THINKING ABOUT THE WORLD. THE MINT STRIVES TO SERVE AS A TRANSFORMATIONAL CENTER FOR COMMUNITY ENGAGEMENT AND INSPIRATION. ANNUALLY, THE MINT PARTNERS WITH MANY ORGANIZATIONS WITHIN THE COMMUNITY TO OFFER A BROAD ARRAY OF PROGRAMMING THAT REACHES AS MANY COMMUNITY MEMBERS AS POSSIBLE. KEY PARTNERS INCLUDE: CHARLOTTE MECKLENBURG SCHOOLS, THE LATIN AMERICAN WOMEN'S ASSOCIATION, LATIN AMERICAN COALITION, ART SI CHARLOTTE, CIRCLE DE LUZ, HARVEY B. GANTT CENTER FOR AFRICAN-AMERICAN ARTS + CULTURE, DANCES OF INDIA RUMBAO LATIN DANCE COMPANY, SOUTHEASTERN MUSEUM CONFERENCE, PBS AFFILIATE WTVI CHARLOTTE, BECHTLER MUSEUM OF MODERN ART, MCCOLL CENTER FOR VISUAL ART, BLUMENTHAL PERFORMING ARTS CENTER, CHARLOTTE BALLET, OPERA CAROLINA, CHARLOTTE SYMPHONY, CHARLOTTE MECKLENBURG LIBRARY, UNIVERSITIES AND COLLEGES, AND OTHERS.MINT STAFF MEMBERS RELATE TO THEIR PEERS THROUGH VARIOUS NATIONAL GROUPS, INCLUDING THE SOUTHEASTERN MUSEUMS CONFERENCE, THE AMERICAN ALLIANCE OF MUSEUMS, THE COLLEGE ART ASSOCIATION, AND THE ASSOCIATION OF ART MUSEUM CURATORS. THE MINT CONTRIBUTES ANNUALLY TO THE REGIONAL ECONOMY THROUGH EMPLOYMENT, SALES, AND TAXES. SALARIES AND WAGES FOR MINT EMPLOYEES AMOUNTS TO APPROXIMATELY $3.6M ANNUALLY, WHILE CONTRACT FEES TOTAL APPROXIMATELY $1.4M. PAID TAXES ARE APPROXIMATELY $340K, WHICH INCLUDE PAYROLL, LOCAL, STATE, AND FEDERAL TAXES. THE MINT'S SPECIAL EVENTS AND SHOPS REVENUE, DOWN DUE TO COVID, AMOUNTED TO APPROXIMATELY $.5M ANNUALLY, AND THESE EFFORTS SERVE AS IMPORTANT VENUES FOR LOCAL BUSINESSES (CATERERS, EVENT PLANNERS, VENDORS) TO PARTNER AND THRIVE. FINALLY, 1,700 ANNUAL VOLUNTEERS OFFER A KEY RESOURCE, RESULTING IN AN ANNUAL COST SAVINGS OF APPROXIMATELY $200K. 7254987 1 1 0 0 0 0 0 1 0 1 1 1 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 0 1 0 0 0 1 0 0 0 1 90 0 1 91 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 24 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NC X X GARY BLANKEMEYER 7043372000 2730 RANDOLPH ROAD CHARLOTTE NC 28207 NATALIE FRAZIER ALLEN CHAIR 1.00 X X 0 0 0 SEAN JONES PAST CHAIR 1.00 X X 0 0 0 TONI KENDRICK SECRETARY 1.00 X X 0 0 0 MILTON PRIME TREASURER 1.00 X X 0 0 0 MARY BEAVER DIRECTOR 1.00 X 0 0 0 STEPHANIE BISSELL DIRECTOR 1.00 X 0 0 0 LEN BOTKIN DIRECTOR 1.00 X 0 0 0 ARMANDO CHARDIET DIRECTOR 1.00 X 0 0 0 KATE COLE DIRECTOR 1.00 X 0 0 0 LUCY HARDISON DIRECTOR 1.00 X 0 0 0 QUINCY LEE DIRECTOR 1.00 X 0 0 0 SUSAN MCKEITHEN DIRECTOR 1.00 X 0 0 0 POSEY MEALY DIRECTOR 1.00 X 0 0 0 RICHARD PAYNE JR DIRECTOR 1.00 X 0 0 0 AMY PITT DIRECTOR 1.00 X 0 0 0 BETH QUARTAPELLA DIRECTOR 1.00 X 0 0 0 MANUEL RODRIGUEZ DIRECTOR 1.00 X 0 0 0 LORIE M SPRATLEY DIRECTOR 1.00 X 0 0 0 LEIGH-ANN SPROCK DIRECTOR 1.00 X 0 0 0 ANN TARWATER DIRECTOR 1.00 X 0 0 0 JUDITH TOMAN DIRECTOR 1.00 X 0 0 0 ROCKY TRENKELBACH DIRECTOR 1.00 X 0 0 0 CHARLOTTE WICKHAM DIRECTOR 1.00 X 0 0 0 PAUL WRIGHT DIRECTOR 1.00 X 0 0 0 DR TODD A HERMAN PRESIDENT & CEO 40.00 X 295045 0 20378 GARY C BLANKEMEYER COO/CFO 40.00 X 167034 0 14915 JEN A SUDUL EDWARDS CHIEF CURATOR 40.00 X 100710 0 12842 HILLARY COOPER CHIEF ADVANCEMENT OFFICER 40.00 X 111674 0 4758 ANNIE CARLANO SENIOR CURATOR 40.00 X 103744 0 12281 778207 0 65174 5 0 1 0 SUNSTATES SECURITY LLC 801 CORPORATE CENTER DR RALEIGH NC 27607 SECURITY SERVICES 301328 THE BUDD GROUP INC 2325 STRATFORD RD WINSTONSALEM NC 27103 HOUSEKEEPING/LANDSCAPING 293505 BIZ TECHNOLOGY SOLUTIONS INC 353 OATES RD MOORESVILLE NC 28117 IT SERVICES 105108 3 152068 383198 925036 1254656 3685689 12600 6400647 MUSEUM ADMISSIONS 900099 258437 258437 EXHIBITION RENTALS 900099 22477 22477 EDUCATION PROGRAMS 611710 7078 7078 250 250 288242 44916 44916 328832 0 328832 328832 328832 1233738 1233738 0 62112 383198 100857 -38745 -38745 298968 203905 95063 95063 ALCOHOL SALES 722440 64513 64513 64513 7183468 383305 64513 335003 X 451875 345240 56899 49736 3208871 2451628 404056 353187 115644 88354 14562 12728 352103 268990 44348 38765 252523 192932 31797 27794 38473 5168 33305 55400 55400 12592 12592 1325926 880105 343899 101922 84139 83449 690 536605 275704 167212 93689 444332 367553 71185 5594 16336 12570 2010 1756 7424 2815 3899 710 1853262 1795620 29451 28191 75181 26250 48931 ACCESSIONS & CONSERVATI 255543 255543 EXHIBITIONS RENTAL/INST 83084 83084 RECEPTIONS/MEMBER SERVI 66966 4400 62566 SPECIAL EVENTS 41848 37982 3866 108445 77600 27267 3578 9386572 7254987 1351369 780216 1042810 1272831 632055 536505 190900 756156 219323 406726 418344 320508 283964 184211 65970740 19957074 47355079 46013666 1347057 1482632 26506848 33306286 2858321 2767374 80854701 87046895 979967 896135 424361 914380 753700 776145 0 146074 2158028 2732734 X 4118493 4241130 74578180 80073031 78696673 84314161 80854701 87046895 X -2203104 376302 7444290 X 0 1 X 1 0 X 5287661 4280288 4881992 5323732 6399647 26173320 1641852 1641852 1641852 1641852 1641852 8209260 6929513 5922140 6523844 6965584 8041499 34382580 4032689 30349891 125014 148637 1191788 710992 373748 2550179 180156 346615 217522 150396 32988 927677 15416 3718 11635 30769 37891205 4151908 0.80100 0.80290 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2016 AMOUNT: $ 15,416. 2017 AMOUNT: $ 3,718. 2018 AMOUNT: $ 11,635. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12600 X X X X 1 36438097 431805 10950622 1594154 46226370 37697329 306921 380036 1946189 36438097 38904421 601723 417627 2226442 37697329 36647466 416122 3321173 1480340 38904421 34348060 316604 3693144 1710342 36647466 1.00000 1 1 1 58649446 15496430 43153016 5678912 3127441 2551471 1572332 1333203 239129 70050 70050 46013666 BENEFICIAL INTERESTS IN TRUSTS 33306286 F 33306286 CAPITAL LEASE OBLIGATION 146074 146074 X 20226705 376302 1641852 11962711 13980865 6245840 12592 925036 937628 7183468 11307995 1641852 1 292162 1934015 9373980 12592 12592 9386572 PART III, LINE 1A: IN ACCORDANCE WITH GAAP AND THE PRACTICE TYPICALLY FOLLOWED BY MUSEUMS, EXHIBITS AND ART OBJECTS PURCHASED AND DONATED ARE NOT INCLUDED IN THE ACCOMPANYING CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. EVEN THOUGH NOT REPORTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS, THE MUSEUM'S COLLECTION REPRESENTS ONE OF ITS MOST VALUABLE ASSETS. THE MUSEUM'S COLLECTIONS CONSIST OF ART OBJECTS AND ARTIFACTS OF HISTORICAL SIGNIFICANCE THAT ARE HELD FOR CURATORIAL AND EDUCATIONAL PURPOSES. THE COLLECTION IS KEPT UNDER CURATORIAL CARE, WHICH INCLUDES CONSERVATION PRACTICES, AND IS SUBJECT TO THE MUSEUM'S POLICY THAT REQUIRES PROCEEDS FROM THE SALE OF COLLECTION ITEMS TO BE USED ONLY FOR ACQUISITION OF ADDITIONAL COLLECTIONS. THE MUSEUM DOES NOT RECOGNIZE AS A CONTRIBUTION ANY INCOME FROM DONATED COLLECTION ITEMS, AS ITS COLLECTIONS ARE NOT CAPITALIZED. PART III, LINE 4: THE MINT MUSEUM COMPRISES TWO FACILITIES (MINT MUSEUM RANDOLPH AND MINT MUSEUM UPTOWN) AND NEARLY 35,000 OBJECTS IN ITS COLLECTION, ONE OF THE LARGEST COLLECTIONS IN THE SOUTHEAST. MINT MUSEUM RANDOLPH, ORIGINALLY CONSTRUCTED IN 1936, HOUSES THE MINT'S DECORATIVE ARTS, FASHION, ART OF THE ANCIENT AMERICAS, AND EUROPEAN, AFRICAN, ASIAN, AND NATIVE AMERICAN COLLECTIONS. THE MINT MUSEUM UPTOWN HOUSES THE INTERNATIONALLY-RENOWNED MINT MUSEUM OF CRAFT + DESIGN, AS WELL AS OUTSTANDING COLLECTIONS OF AMERICAN, CONTEMPORARY, AND EUROPEAN ART. DESIGNED BY MACHADO AND SILVETTI ASSOCIATES OF BOSTON, THE FIVE-STORY, 145,000 SQUARE-FOOT FACILITY COMBINES INSPIRING ARCHITECTURE WITH GROUNDBREAKING EXHIBITIONS TO PROVIDE VISITORS WITH UNPARALLELED EDUCATIONAL AND CULTURAL EXPERIENCES. LOCATED IN THE HEART OF UPTOWN CHARLOTTE, THE MINT MUSEUM UPTOWN IS AN INTEGRAL PART OF LEVINE CENTER FOR THE ARTS, A CULTURAL CAMPUS THAT INCLUDES THE BECHTLER MUSEUM OF MODERN ART, THE HARVEY B. GANTT CENTER FOR AFRICAN-AMERICAN ARTS + CULTURE, THE KNIGHT THEATER, AND THE DUKE ENERGY CENTER. PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE USED FOR A VARIETY OF PURPOSES TO SUPPORT THE MINT'S PROGRAMS. THE ENDOWMENT BALANCES REPORTED IN PART V OF FORM 990 INCLUDE ENDOWMENT FUNDS HELD BY A SUPPORTING ORGANIZATION, FOUNDATION FOR THE MINT MUSEUM, WHICH EXISTS TO SUPPORT THE OPERATIONS OF THE MINT MUSEUM. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE MUSEUM IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC"). IN ACCORDANCE WITH IRC REGULATIONS, THE MUSEUM IS TAXED ON UNRELATED BUSINESS INCOME, WHICH CONSISTS OF EARNINGS FROM ACTIVITIES NOT RELATED TO THE EXEMPT PURPOSE OF THE MUSEUM. THE MUSEUM ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD WHEREBY TAX BENEFITS ARE ONLY RECOGNIZED WHEN THE MUSEUM BELIEVES THAT THEY HAVE A GREATER THAN 50% LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOUNDATION FOR THE MINT MUSEUM REVENUE 4,226,259. DIRECT FUNDRAISING EVENT EXPENSES 88,257. COST OF GOODS SOLD 203,905. CHANGE IN BENEFICIAL INTEREST IN TRUSTS 7,444,290. PART XI, LINE 4B - OTHER ADJUSTMENTS: CONTRIBUTION FROM FOUNDATION FOR THE MINT MUSEUM 925,036. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 88,257. COST OF GOODS SOLD 203,905. ANNUAL GALA 445310 383198 62112 36116 13625 51116 445310 383198 62112 36116 13625 51116 100857 -38745 X X X X 0 0 0 0 0 0 0 0 0 DR TODD A HERMAN PRESIDENT & CEO 295045 0 0 0 0 0 11802 0 8576 0 315423 0 0 0 GARY C BLANKEMEYER COO/CFO 167034 0 0 0 0 0 6681 0 8234 0 181949 0 0 0 X 148 12600 FMV 0 0 1 0 PART I, LINE 33: IN ACCORDANCE WITH GAAP, THE MUSEUM DOES NOT RECOGNIZE AS A CONTRIBUTION ANY INCOME FROM DONATED COLLECTION ITEMS AS ITS COLLECTIONS ARE NOT CAPITALIZED. DURING THIS FISCAL YEAR, THE MUSEUM RECEIVED THREE WORKS OF ART WHICH WERE AUCTIONED OFF AT ITS FUNDRAISING EVENT. THE AMOUNT REPORTED IN COLUMN C REPRESENTS THE FMV OF THOSE ARTWORKS ONLY. FORM 990, PART VI, SECTION A, LINE 7A THE MAYOR AND CITY COUNCIL OF THE CITY OF CHARLOTTE MAY EACH APPOINT A TRUSTEE FOR THREE-YEAR TERMS ENDING AT THE DATE OF THE ANNUAL OR SUBSTITUTE ANNUAL MEETING OF THE MEMBERS OF THE CORPORATION. ANY VACANCY OCCURRING IN THE MEMBERS OF THE BOARD OF TRUSTEES APPOINTED BY THE MAYOR OR THE CITY COUNCIL SHALL BE FILLED ONLY BY THE MAYOR OR THE CITY COUNCIL, RESPECTIVELY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD FINANCE AND INVESTMENT COMMITTEE REVIEWS AND APPROVES THE FORM 990 PRIOR TO SUBMITTING IT TO THE IRS. THE FULL BOARD OF TRUSTEES RECEIVES A PUBLIC DISCLOSURE COPY OF THE FORM 990 TO PROTECT THE PRIVACY OF THE ORGANIZATION'S DONORS. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT EACH YEAR. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES THE POLICY. IF AN ISSUE ARISES DURING THE YEAR, IT MUST BE BROUGHT TO THE BOARD'S ATTENTION. THE MEMBER WITH THE POTENTIAL ISSUE WILL RECUSE HIMSELF OR HERSELF FROM BOTH THE DISCUSSION AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 EACH POSITION WITHIN THE MUSEUM IS EVALUATED AND ASSIGNED A "GRADE," WHICH IS IN TURN ASSOCIATED WITH A SALARY RANGE THAT IS UPDATED ANNUALLY BASED ON INFLATION AND OTHER ECONOMIC FACTORS. COMPENSATION FOR ALL STAFF POSITIONS FOR THE MUSEUM IS EVALUATED ANNUALLY THROUGH A PROCESS OF BENCHMARKING JOB DESCRIPTIONS/RESPONSIBILITIES WITH SIMILAR POSITIONS FOUND IN THE ASSOCIATION OF ART MUSEUM DIRECTORS' SALARY SURVEY, WHICH IS UPDATED ANNUALLY AND/OR THE "WAGE AND SALARY SURVEY" PUBLISHED BY THE EMPLOYERS' ASSOCIATION BIANNUALLY. THE PRESIDENT & CEO AND COO THEN REVIEW EACH POSITION'S COMPENSATION AS IT RELATES TO THE SALARY SURVEYS AND MAKE ADJUSTMENTS TO THE PAY ACCORDINGLY. THE PRESIDENT AND CEO'S SALARY AND BENEFITS PACKAGE IS ADJUSTED AND APPROVED BY THE FULL BOARD OF TRUSTEES AND DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE MUSEUM'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 880,105. MANAGEMENT AND GENERAL EXPENSES 343,899. FUNDRAISING EXPENSES 101,922. TOTAL EXPENSES 1,325,926. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTERESTS IN TRUSTS 7,444,290. FOUNDATION FOR THE MINT MUSEUM 220 NORTH TRYON STREET CHARLOTTE NC 28202 202749804 SUPPORT MINT MUSEUM NC 501(C)(3) LINE 12A, I N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0