2022-05-13T10:02:25-05:00 2021-06-30 911194016 CLARK NUBER PS 10900 NE 4TH STREET SUITE 1400 BELLEVUE WA 98004 990 2020-07-01 910640788 SEATTLE ART MUSEUM SEAT 2066258900 1300 FIRST AVENUE SEATTLE WA 981012003 CINDY BOLTON CFO 2066258900 2022-05-11 1 CINDY BOLTON 999009999 MEGAN R RYAN P00737884 4254544919 2022-05-11 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z AMADA CRUZ 1300 FIRST AVENUE SEATTLE WA 981012003 49251663 0 X WWW.SEATTLEARTMUSEUM.ORG X 1917 WA TO PROMOTE AND CULTIVATE THE FINE ARTS. 62 62 347 301 70526 0 31130663 20344533 3300469 1234217 3018544 8050044 4167421 4229364 41617097 33858158 0 0 0 0 17376894 8969483 265805 169889 1348380 19633667 17359159 37276366 26498531 4340731 7359627 355978957 402999024 22570344 20436607 333408613 382562417 X FOUNDED IN 1917, THE SEATTLE ART MUSEUM (SAM) CONNECTS ART TO LIFE. AS THE LEADING VISUAL ART INSTITUTION IN THE PACIFIC NORTHWEST, SAM DRAWS ON ITS GLOBAL COLLECTIONS, POWERFUL SPECIAL EXHIBITIONS, NUMEROUS INSTALLATIONS, AND DYNAMIC PROGRAMS TO FULFILL ITS IMPORTANT ROLE AS A CULTURAL AND EDUCATIONAL RESOURCE BENEFITTING THE SEATTLE REGION, THE PACIFIC NORTHWEST, AND BEYOND. FROM A STRONG FOUNDATION OF ASIAN ART TO NOTEWORTHY COLLECTIONS OF AFRICAN AND OCEANIC ART, NORTHWEST COAST NATIVE AMERICAN ART, EUROPEAN AND AMERICAN ART, AND MODERN AND CONTEMPORARY ART, THE STRENGTH OF SAM'S COLLECTION OF APPROXIMATELY 25,000 OBJECTS LIES IN ITS DIVERSITY OF MEDIA, CULTURES, AND TIME PERIODS. WITH THREE LOCATIONS (SEATTLE ART MUSEUM, OLYMPIC SCULPTURE PARK, SEATTLE ASIAN ART MUSEUM), SAM HARNESSES THE POWER OF ART TO ENRICH LIVES AND ENGAGES DIVERSE COMMUNITIES, INCLUDING HUNDREDS OF THOUSANDS OF VISITORS, AS WELL AS THOUSANDS OF SEATTLE-AREA STUDENTS. 0 0 18664451 1376491 MUSEUM SERVICES: PROVIDING A PUBLIC ART MUSEUM INCLUDING THE ACCESSION OF ART OBJECTS AS WELL AS PUBLIC ART EXHIBITIONS AND ART EDUCATION FOR THE GENERAL PUBLIC. MUSEUM PATRONS VISITED THIS YEAR AT THREE DIFFERENT SEATTLE LOCATIONS - THE SEATTLE ART MUSEUM, THE SCULPTURE PARK AND THE ASIAN ART MUSEUM.DURING THE FISCAL YEAR ENDED JUNE 30, 2021, THE OUTDOOR OLYMPIC SCULPTURE PARK REMAINED OPEN TO THE PUBLIC YEAR-ROUND, BUT THE SEATTLE ART MUSEUM DOWNTOWN, THE SEATTLE ASIAN ART MUSEUM, AND THE PAVILION AT THE OLYMPIC SCULPTURE PARK EXPERIENCE INTERMITTENT CLOSURES AND RE-OPENINGS AT THE GOVERNMENT'S DIRECTION. THE SEATTLE ART MUSEUM DOWNTOWN WAS ABLE TO RE-OPEN ON FEBRUARY 6, 2021 AND THE SEATTLE ASIAN ART MUSEUM AND THE OLYMPIC SCULPTURE PARK PAVILION FOLLOWED ON APRIL 30, 2021. IN ORDER TO STILL PROVIDE ACCESS TO ART AND EDUCATION DURING THE CLOSURES, THE MUSEUM SHIFTED ITS PROGRAMMING ONLINE AND PROVIDED VIRTUAL ACCESS FOR ITS AUDIENCES AND COMMUNITY. 18664451 1 1 0 1 0 0 0 1 0 1 1 1 1 1 1 0 0 1 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 278 0 347 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 62 62 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 WA X X CINDY BOLTON 2066258900 1300 FIRST AVENUE SEATTLE WA 98101 AMADA CRUZ ILLSEY BALL NORDSTROM DIRECTOR 38.00 2.00 X 407310 0 7274 CYNTHIA BOLTON CHIEF FINANCIAL OFFICER 38.00 2.00 X 179203 0 13157 CHRIS LANDMAN CHIEF DEVELOPMENT OFFICER 40.00 0.00 X 170459 0 13023 MANISH ENGINEER CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 157206 0 12387 NICHOLAS DORMAN CHIEF CONSERVATOR 40.00 0.00 X 149427 0 12285 LAUREN MELLON DIRECTOR OF MUSEUM SERVICES 40.00 0.00 X 119241 0 11055 REGAN PRO DEPUTY DIRECTOR OF EDUCATION 40.00 0.00 X 104787 0 10836 CHIYO ISHIKAWA DEPUTY DIRECTOR OF ART 40.00 0.00 X 102472 0 9516 STEWART LANDEFELD CHAIR 1.00 1.00 X X 0 0 0 CARLA LEWIS PRESIDENT 1.00 1.00 X X 0 0 0 CONSTANCE RICE VICE CHAIR 1.00 1.00 X X 0 0 0 MAGGIE WALKER SECRETARY 1.00 1.00 X X 0 0 0 ROBERT STRONG TREASURER 1.00 1.00 X X 0 0 0 SUSAN BROTMAN VICE PRESIDENT 1.00 1.00 X X 0 0 0 JON SHIRLEY VICE PRESIDENT 1.00 1.00 X X 0 0 0 DOUGLAS TRUE VICE PRESIDENT 1.00 1.00 X X 0 0 0 CHARLES WRIGHT VICE PRESIDENT 1.00 1.00 X X 0 0 0 WINNIE STRATTON PAST PRESIDENT 1.00 1.00 X X 0 0 0 MARGARET ALLISON TRUSTEE 1.00 1.00 X 0 0 0 CHERRY MCGEE BANKS TRUSTEE 1.00 1.00 X 0 0 0 WATSON BLAIR TRUSTEE 1.00 1.00 X 0 0 0 BRUCE BLUME TRUSTEE 1.00 1.00 X 0 0 0 CLIFF BURROWS TRUSTEE 1.00 1.00 X 0 0 0 LISA CAPUTO TRUSTEE 1.00 1.00 X 0 0 0 ALEX CEBALLOS TRUSTEE 1.00 1.00 X 0 0 0 MICHAEL CORLISS TRUSTEE 1.00 1.00 X 0 0 0 MARC COSENTINO TRUSTEE 1.00 1.00 X 0 0 0 SHEILA EDWARDS LANGE TRUSTEE 1.00 1.00 X 0 0 0 LISA GOODMAN TRUSTEE 1.00 1.00 X 0 0 0 FELIX HUANG TRUSTEE 1.00 1.00 X 0 0 0 JOHNPAUL JONES TRUSTEE 1.00 1.00 X 0 0 0 ROBERT KAPLAN TRUSTEE 1.00 1.00 X 0 0 0 JANET KETCHUM TRUSTEE 1.00 1.00 X 0 0 0 SYLVIA KETCHUM TRUSTEE 1.00 1.00 X 0 0 0 NAJMA LALJI TRUSTEE 1.00 1.00 X 0 0 0 GARY LOCKE TRUSTEE 1.00 1.00 X 0 0 0 BARBARA MALONE TRUSTEE 1.00 1.00 X 0 0 0 MAREN MONSEN TRUSTEE 1.00 1.00 X 0 0 0 SCOTT MORRIS TRUSTEE 1.00 1.00 X 0 0 0 CHARLES NOLAN TRUSTEE 1.00 1.00 X 0 0 0 DOUG NORBERG TRUSTEE 1.00 1.00 X 0 0 0 LINDA NORDSTROM TRUSTEE 1.00 1.00 X 0 0 0 SALLY NORDSTROM TRUSTEE 1.00 1.00 X 0 0 0 MICHAEL PARHAM TRUSTEE 1.00 1.00 X 0 0 0 HWA PARK TRUSTEE 1.00 1.00 X 0 0 0 SANJAY PARTHASARATHY TRUSTEE 1.00 1.00 X 0 0 0 STEVE PHELPS TRUSTEE 1.00 1.00 X 0 0 0 MALA RAMAN TRUSTEE 1.00 1.00 X 0 0 0 CATHERINE ROCHE TRUSTEE 1.00 1.00 X 0 0 0 LEE ROLFE TRUSTEE 1.00 1.00 X 0 0 0 FAYE SARKOWSKY TRUSTEE 1.00 1.00 X 0 0 0 STAN SAVAGE TRUSTEE 1.00 1.00 X 0 0 0 LAURA SELIPSKY TRUSTEE 1.00 1.00 X 0 0 0 ROBERTA SHERMAN TRUSTEE 1.00 1.00 X 0 0 0 KIM RICHTER SHIRLEY TRUSTEE 1.00 1.00 X 0 0 0 GURSHARAN SIDHU TRUSTEE 1.00 1.00 X 0 0 0 MARY SNAPP TRUSTEE 1.00 1.00 X 0 0 0 VASUNDARA SRENIVAS TRUSTEE 1.00 1.00 X 0 0 0 DENISE STIFFARM TRUSTEE 1.00 1.00 X 0 0 0 INA TATEUCHI TRUSTEE 1.00 1.00 X 0 0 0 LYNN THOMSEN TRUSTEE 1.00 1.00 X 0 0 0 ANDREA THORESON TRUSTEE 1.00 1.00 X 0 0 0 BERT VALDMAN TRUSTEE 1.00 1.00 X 0 0 0 BRANDON VAUGHAN TRUSTEE 1.00 1.00 X 0 0 0 MANDIRA VIRMANI TRUSTEE 1.00 1.00 X 0 0 0 HUONG VU TRUSTEE 1.00 1.00 X 0 0 0 BRIAN WINEKE TRUSTEE 1.00 1.00 X 0 0 0 SUSAN WINOKUR TRUSTEE 1.00 1.00 X 0 0 0 ANN P WYCKOFF TRUSTEE 1.00 1.00 X 0 0 0 MARTHA WYCKOFF TRUSTEE 1.00 1.00 X 0 0 0 1390105 0 89533 10 0 1 0 ALLIED UNIVERSAL EIGHT TOWER BRG 161 WASHINGTON ST CONSHOHOCKEN PA 98134 SECURITY SERVICES 645452 CAMBRIDGE ASSOCIATES 125 HIGH STREET BOSTON MA 021102112 INVESTMENT MANAGMENT 337116 MCKINSTRY CO C/O MCKINSTRY LOCKBOX PO BOX 3895 SEATTLE WA 98124 HVAC MAINTENANCE 260606 SOUTHWEST SOLUTIONS PO BOX 671784 DALLAS TX 75267 UPGRADES AND REPAIRS 205646 ELTEC SYSTEMS LLC 2025 1ST AVE SUITE 790 SEATTLE WA 98121 ELEVATOR MAINTENANCE AND REPAIRS 162051 13 3859981 226391 1709557 14548604 3261927 20344533 ADMISSIONS 712110 588797 588797 MEMBERSHIP DUES 900099 497197 497197 EDUCATIONAL PROGRAMS 611699 148223 148223 1234217 3813807 3813807 12076 12076 7455063 3801857 3653206 3653206 3653206 15107658 12000 10883421 0 4224237 12000 4236237 12000 4224237 519735 226391 498876 20859 20859 362862 209351 153511 130274 23237 TEMP USE OF AIRSPACE 900099 200000 200000 FOOD SVC COMMISSION 722320 103838 34266 69572 REIMBURSEMENTS 900099 51442 51442 34432 13023 21409 389712 33858158 1376491 70526 12066608 790424 414584 192359 183481 8858538 6589054 1382746 886738 -2690425 -2213146 -176299 -300980 1300628 1038893 141242 120493 710318 562416 65929 81973 36057 1818 34239 96941 96305 636 24082 24082 169889 169889 655819 655819 1976532 1846471 116959 13102 57076 52368 1318 3390 1282820 991381 168363 123076 73765 11941 61688 136 8151476 6153166 1998310 6690 2856 2037 1797 78067 78067 3714239 2741802 972437 903309 244193 659116 ART ACCESSION 238861 238861 TAXES AND LICENSES 150843 148539 2304 CATERING 64216 768 600 62848 EXHIBITIONS -151634 -161514 8079 1801 26498531 18664451 6485700 1348380 26001347 25170255 4040455 2998590 8941565 9116575 1934965 566226 25087253 24127665 450485 420362 700883 1099429 174479974 80569535 98010291 93910439 101306402 124962207 40753093 70460983 23680479 22629038 25071739 27537255 355978957 402999024 2578250 2254431 3953308 5073095 8744720 7171572 2860600 4182552 4433466 1754957 22570344 20436607 X 153766163 150799906 179642450 231762511 333408613 382562417 355978957 402999024 X 7359627 43655879 -564 -1861138 X 0 1 X 1 0 X 22147608 39021957 20792089 31098417 20343075 133403146 22147608 39021957 20792089 31098417 20343075 133403146 11517202 121885944 8709039 9230497 10046599 11251536 11280946 50518617 111758 111758 393957 212759 1128683 208597 342423 2286419 186319940 25893088 0.65420 0.61490 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PARKING GARAGE - 2016 AMOUNT: $ 60,097. 2017 AMOUNT: $ 21,695. 2018 AMOUNT: $ 20,998. 2019 AMOUNT: $ 17,038. 2020 AMOUNT: $ 4,341. REIMBURSEMENTS - 2016 AMOUNT: $ 134,586. 2017 AMOUNT: $ 50,012. 2018 AMOUNT: $ 72,284. 2019 AMOUNT: $ 85,553. 2020 AMOUNT: $ 51,442. MISCELLANEOUS - 2016 AMOUNT: $ 10,418. 2017 AMOUNT: $ 20,262. 2018 AMOUNT: $ 23,446. 2019 AMOUNT: $ 23,261. 2020 AMOUNT: $ 17,068. FOOD SVC COMMISSION - 2016 AMOUNT: $ 76,678. 2017 AMOUNT: $ 119,745. 2018 AMOUNT: $ 20,141. 2019 AMOUNT: $ 82,745. 2020 AMOUNT: $ 69,572. TEMP USE OF AIRSPACE - 2020 AMOUNT: $ 200,000. TDR SALES - 2016 AMOUNT: $ 112,178. 2017 AMOUNT: $ 1,045. 2018 AMOUNT: $ 991,814. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24082 24082 30788673 30812755 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 1081 39237 24082 24082 88482 250000 250000 250000 250000 1000000 1500000 0 0 0 0 X X X X 0 150800827 12881360 47278628 8155182 655819 202149814 144136322 14956176 218808 7859497 650982 150800827 138141091 8010573 5440834 6973737 482439 144136322 121990894 13473840 8672590 5547684 448549 138141091 105794981 9776476 13436427 6016990 1000000 121990894 0.00000 1.00000 0.00000 0 0 17797741 17797741 72073197 26317472 45755725 22977038 8069123 14907915 21483238 18285334 3197904 40148760 27897606 12251154 93910439 EMERGING MARKETS 13690828 F PRIVATE EQUITY 2046499 F MARKETABLE ALTERNATIVES 46560156 F REAL ASSETS 8163500 F 70460983 SAM-SAAM RENOVATION, LLC 22629038 F 22629038 PREPAID LEASES 609000 INCENTIVE TO LESSEE 3894938 DEFERRED FACILITY RENTAL 9457058 FUNDS HELD IN TRUST BY OTHERS 13576259 27537255 PENSION LIABILITY 1754957 1754957 81723604 43655879 355302 44011181 37712423 655819 -4510084 -3854265 33858158 31421817 355302 5223803 5579105 25842712 655819 655819 26498531 PART III, LINE 1A: ART OBJECTS ARE EXPENSED WHEN PURCHASED AND THEREFORE, ARE NOT SHOWN AS ASSETS ON THE CONSOLIDATED BALANCE SHEETS. ART OBJECTS PLEDGED OR DONATED TO THE MUSEUM ARE NOT RECORDED FOR FINANCIAL ACCOUNTING PURPOSES AND, ACCORDINGLY, ARE NOT INCLUDED AS CONTRIBUTED REVENUE IN THE CONSOLIDATED STATEMENT OF ACTIVITIES OR AS RECEIVABLES ON THE CONSOLIDATED BALANCE SHEETS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED IN THE CONSOLIDATED STATEMENT OF ACTIVITIES BASED ON THE EXISTENCE AND NATURE OF DONOR IMPOSED RESTRICTIONS. THE MUSEUM'S POLICY IS TO USE PROCEEDS FROM DEACCESSIONED COLLECTION ITEMS FOR ACQUISITIONS OF NEW COLLECTION ITEMS AND THE DIRECT CARE OF EXISTING COLLECTIONS. PART III, LINE 4: THE MUSEUM'S COLLECTION OF PAINTINGS, SCULPTURE, AND OTHER WORKS OF ART PROMOTE AND CULTIVATE THE FINE ARTS THROUGH PUBLIC EXHIBIBITION, EDUCATIONAL PROGRAMMING, AND SCHOLARLY RESEARCH. PART V, LINE 4: TO SUPPORT EXHIBITIONS, ART EDUCATION, ART ACQUISITIONS AND GENERAL OPERATIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES - REPORTED ON FORM 990, PART VIII -498,876. RENTAL EXPENSES - REPORTED ON FORM 990, PART VIII -3,801,857. COST OF GOODS SOLD - REPORTED ON FORM 990, PART VIII -209,351. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES - REPORTED ON FORM 990, PART VIII 498,876. RENTAL EXPENSES - REPORTED ON FORM 990, PART VIII 3,801,857. COST OF GOODS SOLD - REPORTED ON FORM 990, PART VIII 209,351. REVERSAL OF PRIOR YEAR PLEDGE LOSS 713,719. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 6592544 0 0 0 0 0 0 6592544 0 6592544 1 0 0 1 1 0 PART III ACCOUNTING METHOD: X X X X X X X 1 THE LUKEN COMPANY 2800 SHIRLINGTON ROAD 9TH FLOOR ARLINGTON VA 22206 DIRECT MAIL, ONLINE AND E-MAIL MEMBERSHIP CAMPAIGNS 0 0 169889 -169889 169889 -169889 WA AUCTION 589120 151010 438110 39308 445866 GARDENS OF ART 81798 57498 24300 13202 250 1 75208 17883 57325 250 746126 226391 519735 52510 446366 498876 20859 X X X X 0 0 0 0 0 0 0 0 0 AMADA CRUZ ILLSEY BALL NORDSTROM DIRECTOR 407310 0 0 0 0 0 0 0 7274 0 414584 0 0 0 CYNTHIA BOLTON CHIEF FINANCIAL OFFICER 179203 0 0 0 0 0 6022 0 7135 0 192360 0 0 0 CHRIS LANDMAN CHIEF DEVELOPMENT OFFICER 170459 0 0 0 0 0 5895 0 7128 0 183482 0 0 0 MANISH ENGINEER CHIEF TECHNOLOGY OFFICER 157206 0 0 0 0 0 5288 0 7099 0 169593 0 0 0 NICHOLAS DORMAN CHIEF CONSERVATOR 149427 0 0 0 0 0 5192 0 7093 0 161712 0 0 0 X 87 N/A X 2 N/A X N/A X 51 2778255 FAIR MARKET VALUE X AUCTION ITEMS 175 438110 FAIR MARKET VALUE X BEVERAGES 1 39248 FAIR MARKET VALUE X FRAMING 1 6314 FAIR MARKET VALUE 9 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 33: NO REVENUE REPORTED PER FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING STANDARDS CODIFICATION 958-360-25 (FORMERLY SFAS 116). GIFTS OF ART AND BOOKS TO THE MUSEUM'S SPECIAL COLLECTION ARE NOT CAPITALIZED OR RECORDED FOR FINANCIAL ACCOUNTING PURPOSES AND, ACCORDINGLY, ARE NOT INCLUDED AS CONTRIBUTED REVENUE IN THE STATEMENT OF ACTIVITIES OR AS RECEIVABLES ON THE BALANCE SHEET. FORM 990, PART I, LINE 6: VOLUNTEERS PROVIDE CUSTOMER SERVICE, SUPPORTING ADMINISTRATIVE TASKS AND WORK WITH SPECIFIC AUDIENCES TO FACILITATE ART EXPERIENCES. ALL BOARD MEMBERS ARE ALSO VOLUNTEERS. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR, THE PRESIDENT, EACH VICE PRESIDENT, THE SECRETARY, THE TREASURER, THE IMMEDIATE PAST CHAIR, THE IMMEDIATE PAST PRESIDENT, EACH STANDING COMMITTEE CHAIR AND OTHER AT-LARGE MEMBERS OF THE BOARD OF TRUSTEES, RECOMMENDED BY THE PRESIDENT AND APPOINTED BY THE BOARD. THE TOTAL MEMBERSHIP OF THE EXECUTIVE COMMITTEE IS NO LESS THAN SEVEN (7) NOR MORE THAN TWENTY (20) MEMBERS. THE EXECUTIVE COMMITTEE HAS ALL OF THE POWERS OF THE BOARD OF TRUSTEES BETWEEN BOARD MEETINGS SUBJECT TO THE LIMITATIONS SET FORTH IN THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 2 JANET KETCHAM AND SYLVIA KETCHAM HAVE A FAMILY RELATIONSHIP. JANET KETCHAM AND LEE ROLFE HAVE A FAMILY RELATIONSHIP. JANET KETCHAM AND ROBERT STRONG HAVE A FAMILY RELATIONSHIP. SYLVIA KETCHAM AND LEE ROLFE HAVE A FAMILY RELATIONSHIP. SYLVIA KETCHAM AND ROBERT STRONG HAVE A FAMILY RELATIONSHIP. LINDA NORDSTROM AND SALLY NORDSTROM HAVE A FAMILY RELATIONSHIP. JON SHIRLEY AND KIM RICHTER SHIRLEY HAVE A FAMILY RELATIONSHIP. ANN P. WYCKOFF AND MARTHA WYCKOFF HAVE A FAMILY RELATIONSHIP. LEE ROLFE AND ANN WYCKOFF HAVE A FAMILY RELATIONSHIP. LEE ROLFE AND MARTHA WYCKOFF HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE MUSEUM'S BOARD HAS ENTRUSTED THE AUDIT COMMITTEE WITH REVIEWING THE DRAFT FORM 990 IN DETAIL. DUE TO THE SIZE AND COMPLEXITY OF THE ORGANIZATION'S BOARD, A COPY OF THE RETURN IS NOT PROVIDED TO EACH BOARD MEMBER BEFORE FILING; HOWEVER, EACH BOARD MEMBER IS NOTIFIED THAT HE OR SHE CAN REVIEW A COPY OF THE RETURN IF INTERESTED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO BOARD MEMBERS. A DETERMINATION OF WHETHER A CONFLICT OF INTEREST EXISTS IS MADE BY THE BOARD'S AUDIT COMMITTEE IN CONJUNCTION WITH THE MUSEUM'S SENIOR MANAGEMENT TEAM. WHEN AN ACTUAL CONFLICT IS DETERMINED TO EXIST, THE SPECIFICS OF THE CONFLICT ARE REVIEWED BY THE AUDIT COMMITTEE OR SENIOR MANAGEMENT TEAM. ANYONE WITH A CONFLICT OF INTEREST MUST RECUSE THEMSELVES FROM DISCUSSION AND THE DECISION MAKING PROCESS IN WHATEVER CAPACITY THEY MAY HAVE AUTHORITY OVER THE DECISION. IF THE CONFLICTED INDIVIDUAL IS A VOTING MEMBER OF THE BOARD, THEY WILL RECUSE THEMSELVES FROM DISCUSSION AND VOTING ON MATTERS WHERE THEY ARE CONFLICTED. FORM 990, PART VI, SECTION B, LINE 15A THE MUSEUM'S COMPENSATION COMMITTEE, A SUBSET OF THE BOARD OF DIRECTORS, IS RESPONSIBLE FOR THE SETTING OF AND ANNUAL REVIEW OF THE ILLSLEY BALL NORDSTROM DIRECTOR AND CEO'S COMPENSATION. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ANNUALLY REVIEWS THE COMPENSATION OF THE ILLSLEY BALL NORDSTROM DIRECTOR AND CEO AND USES COMPENSATION SURVEY DATA. THE ANNUAL BUDGET INCLUDING THIS ARRANGEMENT IS THEN APPROVED BY THE ENTIRE BOARD BASED ON RECOMMENDATIONS FROM THE EXECUTIVE COMMITTEE. THERE IS CONTEMPORANEOUS SUBSTANTIATION OF THIS DELIBERATION AND DECISION. GENERALLY, THE ILLSLEY BALL NORDSTROM DIRECTOR AND CEO DETERMINES THE SALARY FOR THE CHIEF OPERATING OFFICER, CHIEF FINANCIAL OFFICER, AND THE CHIEF DEVELOPMENT OFFICER. THE LAST COMPENSATION REVIEW OCCURRED IN 2021. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. THE MOST RECENT AUDITED STATEMENTS AND TAX RETURN ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: REVERSAL OF PRIOR YEAR PLEDGE LOSS -713,719. IMPLEMENTATION OF ASU NOTICE 2014-09 -985,165. SAAM BALANCE SHEET ADJUSTMENT -162,254. SAAM BUILDING MASTER TENANT LLC 1300 1ST AVENUE SEATTLE WA 98101 320549913 REAL ESTATE WA N/A 0 0 SAM BUILDING LANDLORD LLC 1300 1ST AVENUE SEATTLE WA 98101 371877275 REAL ESTATE WA N/A 0 0 SAM-SAAM RENOVATION LLC 1300 1ST AVENUE SEATTLE WA 98101 371876275 HOLDING COMPANY WA SEATTLE ART MUSEUM C -1235773 22629039 1.00000 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 SAM BUILDING LANDLORD LLC S 900719 COST SAM BUILDING LANDLORD LLC D 24127665 COST SAAM BUILDING MASTER TENANT LLC K 1683013 COST