2022-05-06T07:00:39-05:00 2021-06-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2020-07-01 020223322 Currier Museum of Art CURR 6036696144 150 Ash Street Manchester NH 03104 Charles Lippman Director of Finance 6036696144 2022-05-05 1 Charles Lippman 999009999 Connor Smart P02285543 2078792100 2022-05-05 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Alan Chong 150 Ash Street Manchester NH 03104 43566587 0 X www.currier.org X 1919 NH Focused on art, centered in community, committed to inspire. 19 18 134 67 -27719 0 1965201 3907084 422344 203667 6302091 8152303 103388 6000 8793024 12269054 27020 19030 0 0 3080914 2696287 0 0 595466 8492699 3969541 11600633 6684858 -2807609 5584196 89065408 107852000 903026 395539 88162382 107456461 X Focused on Art, Centered in Community, Committed to Inspire.The Currier Museum of Art facilitates meaningful encounters with art through its collection, exhibitions, programs, art classes, and artists-in-residence. 0 0 3457365 0 130296 Collection: The Currier Museum of Art collects, preserves, researches, and makes accessible significant works of art. The 14,000 objects in the collection, including two houses designed by Frank Lloyd Wright, form the basis of the museum's educational and social programs. The museum maintains state-of-the-art storage facilities and preserves objects under its care. It makes the collection fully accessible through the web, programs, publications, and social media. 855149 19030 59881 Education and community programs. The museum creates innovative programs for a wide variety of audiences. Along with intensive online programming, these include school tours, guided visits, lectures, performances, and large-scale community events. Special programs serve the community, including families impacted by opioid abuse, Alzheimer's patients and their caregivers, military veterans, immigrants, and those affected by disabilities. Studio-based classes for children and adults are run live and online. 157551 0 6180 Exhibitions. The museum normally presents six to seven special exhibitions each year, although this schedule was reduced in FY 2021 because of the pandemic. The museum created exhibitions from its permanent collection and in collaboration with New Hampshire artists to respond to issues of equity. A full range of educational and community programs are presented for each exhibition. 736745 0 50150 Ancillary services: In addition to the galleries, the museum facilities include classrooms, a 180-seat auditorium, a caf, a shop, and other spaces. 736745 0 50150 5206810 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 1 1 1 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 1 63 0 1 134 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 19 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NH X Charles Lippman Director of Finance 6036696144 150 Ash Street Manchester NH 03104 Richard Botnik Trustee 1.00 X 0 0 0 Dwight D Churchill Trustee (end 12/2020) 1.00 X 0 0 0 Michael Costa Trustee 1.00 X 0 0 0 Andy Crews Trustee 1.00 X 0 0 0 Pamela Diamantis Trustee 1.00 X 0 0 0 M Christine Dwyer Trustee 1.00 X 0 0 0 Margaret Gaillard Trustee (end 5/2021) 1.00 X 0 0 0 Jean Gottesman Trustee (end 9/2020) 1.00 X 0 0 0 Bonnie Greiner Trustee 1.00 X 0 0 0 Pauline Ikawa Trustee 1.00 X 0 0 0 David A Jensen Trustee 1.00 X 0 0 0 Susan Lynch Trustee 1.00 X 0 0 0 Peter R Milnes Trustee 1.00 X 0 0 0 John H Morrison III Trustee 1.00 X 0 0 0 Anthony Poore Trustee 1.00 X 0 0 0 William Stelling Trustee 1.00 X 0 0 0 Jay Surdukowski Trustee 1.00 X 0 0 0 Richard Thorner Trustee 1.00 X 0 0 0 William W Upton Trustee 1.00 X 0 0 0 Stephen Duprey President 3.00 X X 0 0 0 Benjamin Kelley Vice President 1.00 X X 0 0 0 Elizabeth Hitchcock Treasurer (end 9/2020) 1.00 X X 0 0 0 Thomas Silvia Treasurer 1.00 X X 0 0 0 Alan Chong Director/CEO 40.00 X 210759 0 15307 Shelly Craig Director of Finance (end 10/2020) 40.00 X 74615 0 1129 Karen Graham Deputy Director 40.00 X 124707 0 8031 John Gennetti Director of Philanthropy 40.00 X 150000 0 1205 560081 0 25672 3 0 1 0 RJG Universal Builders Corporation 10 Riddle Drive Bedford NH 03110 Construction and maintenance 397543 1 197064 2073143 1636877 3779 3907084 Art center tuition 611710 117954 117954 Admissions 713990 78063 78063 Miscellaneous revenue 611710 3587 3587 Public & education 611710 2887 2887 Deaccessioned art 611710 1176 1176 203667 653657 3403 650254 18713 42956 -24243 -24243 -24243 37410363 1189978 30286482 815213 7123881 374765 7498646 7498646 24525 6000 18525 18525 158600 146882 11718 42840 -31122 12269054 246507 -27719 8143182 7500 7500 11530 11530 316055 28445 202275 85335 2022587 1672536 46686 303365 48843 36129 5782 6932 135265 111318 14787 9160 173537 127364 17521 28652 9010 9010 40850 40850 215454 215454 68861 68398 242 221 97744 2015 95729 182485 71298 72495 38692 129659 81171 25172 23316 467876 405676 36175 26025 17888 15372 4 2512 2353 2158 195 628802 503042 62880 62880 86608 52102 34467 39 Art works purchased 1579472 1579472 Public programs 221440 215017 6423 Exhibitions/collections 201669 201669 Membership dues 19370 16756 895 1719 6684858 5206810 882582 595466 492636 542514 1275636 1558099 21201 50094 1738 507257 99788 97110 129487 108033 30667715 16571349 14393823 14096366 23658425 30915228 48992674 59977299 89065408 107852000 47589 128005 267437 267534 588000 0 903026 395539 X 16039463 18167894 72122919 89288567 88162382 107456461 89065408 107852000 5584196 13709883 0 X X 0 1 X 1 1 1 X 1611983 2232855 1999409 1965201 3907084 11716532 1611983 2232855 1999409 1965201 3907084 11716532 894296 10822236 933103 853072 803769 762265 650254 4002463 87792 80017 22226 0 190035 15909030 4116035 0.68030 0.60190 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 70028303 171424 20302727 3820902 208461 86473091 77702460 67003 506736 8036003 211893 70028303 79138011 279605 3560570 5056316 219410 77702460 77379833 1147538 6355919 5524146 221133 79138011 71343991 212 9351114 3101350 214134 77379833 0.01170 0.60070 0.38760 0 0 26474840 13162774 13312066 4180375 3408575 771800 12500 12500 14096366 Real asset funds 8823869 F Hedge funds 11746634 F Interest in Adage Capital Partners 14136587 F Interest in WTC CTF SMID CAP Research Equity Portfolio 10019885 F Interest in Oakmark International Equity 6426455 F Interest in State Street Real Asset Fund 8823869 F 59977299 X 26147825 13709883 384342 14094225 12053600 215454 215454 12269054 6853746 384342 384342 6469404 215454 215454 6684858 Part III, Line 1a: In conformity with industry practice, the value of art objects in the permanent collection are not recorded in statements of financial position. The art collection is catalogued and tracked for its educational value. Objects deemed no longer appropriate for the collection are de-accessioned according to a rigorous, established policy developed in accordance with ethical guidelines for art museums. Proceeds from deaccessioning are used to acquire other objects for the collection. Part III, Line 4: The Currier Museum's permanent collection is the core of the institution's mission. These works of art, preserved for the benefit of the public, are used for exhibition, research, and education. Among the approximately 14,000 objects in the collection are two houses built in Manchester by Frank Lloyd Wright, which are regularly open to the public. Part V, Line 4: Endowment funds are used for museum operations, exhibitions, art acquisition and scholarships. Part X, Line 2: The Internal Revenue Service, in a letter dated July 16, 2004, determined that the Museum is a publicly-supported charity under Internal Revenue Code Section 501(c)(3) and, therefore, not subject to federal income taxes or federal excise taxes imposed upon private foundations. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. In accordance with U.S. GAAP, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Management has evaluated the Museum's tax positions taken on its filed tax returns and concluded that the Museum has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. Any interest and penalties would be recorded in income tax expense. Part XI, Line 2d - Other Adjustments: Employee retention credit net against wage expenses 184,858. Museum shop cost of goods sold 150,528. Rental expenses 42,956. Gaming expenses 6,000. Part XII, Line 2d - Other Adjustments: Employee retention credit net against wage expenses 184,858. Museum shop cost of goods sold 150,528. Rental expenses 42,956. Gaming expenses 6,000. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 3350000 0 0 0 0 0 0 3350000 0 3350000 1 0 1 1 1 0 Part III Accounting Method: Schedule F, Part IV, Lines 3 & 4: The Museum has an ownership interest in several foreign corporate holdings as well as being an indirect shareholder of several passive foreign investment companies (PFIC) by way of their ownership in various alternative investments. The Museum's interest in these foreign corporations did not surpass the filing threshold for Form 5471. Additionally, the Museum had no unrelated business income related to their PFIC interest and therefore is not required to file Form 8621. 24525 6000 0 0.00000 24525 6000 6000 18525 NH 1 0 1 0 1.00000 0.00000 Charlie Lippman 150 Ash Street Manchester NH 03104 0 Jessica Pappathan 0 Raffle tickets for a virtual art auction were sold through the Development Department under the supervision of the Director of Development (see additional information in Part IV). X 0 Schedule G, Part III, Line 16, Description of Services Provided: The Museum had originally planned to host a gala and live dinner and auction event during its 2021 fiscal year. However, because of the COVID-19 Pandemic, the Museum was forced to cancel most of the functions for this event, with the exception of a raffle for a piece of artwork. The raffle was conducted virtually, and the Museum still sold tickets to participate in the drawing. Given its virtual setting, much of the work of required by stewardship and development staff to plan, hosting, coordinate, and regulate a live auction and gaming event became unnecessary. The raffle was advertised online, and participants could purchase their tickets through the Museum's website. Any compensation paid to development and stewardship staff for coordinating the virtual raffle was paid to those individuals for services performed in their capacity as Museum employees, and not limited solely to the raffle event. Because the raffle represented a very small portion of the services provided by the Raffle Manager to the Museum in the course of her employment, no reasonable basis for the amount of compensation related to gaming services can be established. 1 Swimming with a Mission Inc 34 Mill Stone Terrace Bedford NH 03110 814476050 501(c)(3) 7500 Art for Vets Gift Cards 1 0 Scholarships provided to underprivileged students to attend art classes or camps. 30 11530 Part I, Line 2: Prospective scholarship recipients are required to complete a scholarship application and provide either two copies of wage receipts or their latest tax return (Form 1040). Any grants paid to organizations must be qualifying tax-exempt organizations and/or government agencies that use the funds to further missions and purposes that are in keeping with the goals of the Museum. In its 2021 fiscal year, the Museum awarded a grant to Swimming with a Mission to promote art and cultural engagement with veterans. X X X 0 0 0 0 0 0 0 0 0 Alan Chong Director/CEO 210759 0 0 0 0 0 0 0 15307 0 226066 0 0 0 John Gennetti Director of Philanthropy 150000 0 0 0 0 0 0 0 1205 0 151205 0 0 0 Bonnie Greiner Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Bonnie Greiner, who serves as a Trustee on the Museum's Board, is married to William Greiner, the Chairman of the Board for Primary Bank. Transactions in fiscal year ended 6/30/2021 between the Museum and the Bank were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. The accounts were active prior to Mrs. Greiner joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2021. Mrs. Greiner has been classified as an independent Trustee. 0 Peter Milnes Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Peter Milnes, who serves as a Trustee on the Museum's Board, is also a director on the Board of Primary Bank. Transactions in fiscal year ended 6/30/2021 between the Museum and the Bank were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. The accounts were active prior to Mr. Milnes joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2021. Mr. Milnes has been classified as an independent Trustee. 0 Andy Crews Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Andy Crews, who serves as a Trustee on the Museum's Board, is also a director on the Board of Primary Bank. Transactions in fiscal year ended 6/30/2021 between the Museum and the Bank were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. The accounts were active prior to Mr. Crews joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2021. Mr. Crews has been classified as an independent Trustee. 0 Pamela Dimantis Trustee on Museum's Board Currier Museum of Art maintains multiple cash and investment accounts, including accounts held with Primary Bank. Pamela Dimantis, who serves as a Trustee on the Museum's Board, is also a director on the Board of Primary Bank. Transactions in fiscal year ended 6/30/2021 between the Museum and the Bank were in excess of $10,000. An exact figure cannot be stated due to daily account activity and balance changes. The accounts were active prior to Ms. Dimantis joining the Board and all transactions with Primary Bank are at fair market value for fiscal year ended 6/30/2021. Ms. Dimantis has been classified as an independent Trustee. 0 Stephen Duprey Trustee on Museum's Board 222450 Stephen Duprey serves as the Chair on the Museuem's Board of Trustees. In December, 2020, Mr. Duprey sold to the Museum a collection of 19 photographs from various artists, considered to be in excellent condition by a qualified, professional appraiser. The Museum took care to follow its own code of ethics with this transaction, and to adhere to state law which required that an ad be placed in the local newspaper prior to the purchase, and that a simultaneous notification be sent to the Attorney General's office. These tasks were both completed on 12/4/2020. Mr. Duprey recused himself from all discussions and decisions regarding the transaction, and allowed the collection to be freely examined and valued independently. Valuations to arive at a purchase price for the collection were performed by both Bonham's and Christie's auction houses. The Board of Trustees independently approved this purchase, which was a decision made without Mr. Duprey casting a vote. 0 X 12 0 X 2 3779 Stock Exchange Price 0 0 1 1 Part I, Line 32b: The Museum uses a third-party broker to sell gifts of securities. Part I, Line 33: The dollar value of gifts of artwork is not reported on Form 990, Part VIII, Line 1G, as The Museum does not capitalize its collections or report them as revenue, as allowed under SFAS 116. Form 990, Part VI, Section A, line 2 Elizabeth Hitchcock and Benjamin Kelly, who both serve on the Museum's Board of Trustees, have a business relationship. Additionally, Andy Crews, Pamela Diamantis, and Peter Milnes, who all serve on the Museum's Board of Trustees, also share a business relationship. Form 990, Part VI, Section B, line 11b The 990 was reviewed and approved by the Finance Committee of the Board, the Director/CEO, the Deputy Director, and the Director of Finance. The full board of trustees receives a copy of the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c The museum's conflict of interest policy requires all trustees and officers to disclose any known or potential conflict of interest to the Board President prior to any decision or vote occurring with the potential conflict. Such trustees or officers are not permitted to participate when a decision or vote is taken on the matter. All trustees are annually required to disclose in writing any conflicts of interest or certify that none exist. No confects of interest between the museum and any member of its Board of Trustees or officers existed during this Fiscal Year 2020. Form 990, Part VI, Section B, line 15a The Board of Trustees approves any change in pay of the Director/CEO. The Board of Trustees conducts an annual review of the performance of the Director/CEO. The President of the Board reviews salaries of directors of comparable institutions, found in 990s and the salary survey of the American Association of Museum Directors, before recommending a change in pay to the full board. Form 990, Part VI, Section C, line 19 Governing documents, the conflict of interest policy, and financial statements are made available to the public upon request. Form 990, Part XII, Line 2c: The Finance Committee of the Currier Museum of Art meets annually with its independent audit/CPA firm. The audit is completed in accordance with auditing standards generally accepted in the United States of America. The draft financial statements and management letter are presented by the CPA and thoroughly reviewed by the Finance Committee. After review and approval of the audited financial statements and any management letter by the Finance Committee, the final audit is presented to the full board for review and approval. This process has not changed from prior years. Currier Winter Garden Cafe LLC 150 Ash Street Manchester NH 03104 020223322 Dining services NH -21408 0 Currier Museum of Art