2022-11-15T08:26:02-06:00 2021-12-31 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990 2021-01-01 540505959 Thomas Jefferson Foundation Inc % LAURA B TERRY THOM 4349849800 PO Box 316 Charlottesville VA 22902 Laura B Terry VP & CFO 4349849859 2022-11-14 true Laura B Terry 999009999 Marc Berger P01871563 7038930600 2022-11-14 2 2021 2022-09-23 18:48:47Z LESLIE GREENE BOWMAN PO Box 316 Charlottesville VA 22902 219343844 false X www.monticello.org X 1923 VA THE MISSION IS TO PRESERVE MONTICELLO AND SHARE THE HISTORY AND LEGACY OF THOMAS JEFFERSON, HIS FAMILY, AND THOSE HE HELD IN SLAVERY, WITH A GLOBAL AUDIENCE. 17 17 384 85 1661527 0 5645824 13416191 3449927 8141396 45698950 24310327 6066448 8170692 60861149 54038606 77248 117000 0 0 14932397 15582769 0 0 720226 15444721 16859139 30454366 32558908 30406783 21479698 377889217 395493786 41319808 38524413 336569409 356969373 X THE THOMAS JEFFERSON FOUNDATION'S MISSION IS TWO-FOLD: PRESERVATION - TO CONSERVE, PROTECT, AND MAINTAIN MONTICELLO IN A MANNER THAT LEAVES IT ENHANCED AND UNIMPAIRED FOR FUTURE GENERATIONS AND EDUCATION - TO INTERPRET AND PRESENT THOMAS JEFFERSON, HIS FAMILY, AND THOSE HE HELD IN SLAVERY TO THE WIDEST POSSIBLE AUDIENCES, INCLUDING SCHOLARS AND THE GENERAL PUBLIC. THE FOUNDATION'S TWENTY-FIRST CENTURY VISION IS TO BRING HISTORY FORWARD INTO NATIONAL AND GLOBAL DIALOGUES. false false 21852609 0 8141396 THE THOMAS JEFFERSON FOUNDATION OPERATES MONTICELLO, THE HOME OF THE NATION'S THIRD PRESIDENT AND AUTHOR OF THE AMERICAN DECLARATION OF INDEPENDENCE. OVER THE PAST TEN YEARS, AN AVERAGE OF 400,000 PEOPLE HAVE VISITED MONTICELLO ANNUALLY. ADMISSION INCLUDES AN INTERPRETIVE GUIDED TOUR OF HIS HOME, ONE OF OUR COUNTRY'S FOREMOST ARCHITECTURAL MASTERPIECES AND THE ONLY HOME IN AMERICA NAMED TO THE UNITED NATIONS WORLD HERITAGE LIST. IN ADDITION TO ADMISSION REVENUE, THE ABOVE TOTAL ALSO INCLUDES GIFTS AND GRANTS, AND SALES FROM THE RETAIL OPERATIONS OF THE MUSEUM SHOPS, CATALOG, AND ONLINE STORE. THE REVENUE CONTRIBUTES TO THE PRESERVATION OF MONTICELLO FOR FUTURE GENERATIONS, WHICH IS ONE OF THE MISSIONS OF THE FOUNDATION. THE FOUNDATION'S RESTORATION DEPARTMENT IS DEDICATED TO THE ARCHITECTURAL PRESERVATION OF THE UNITED NATIONS WORLD HERITAGE HOUSE WHILE THE CURATORIAL COLLECTIONS ARE UNDER THE CARE OF A FULL-TIME CURATORIAL DEPARTMENT. 3373198 117000 0 THE THOMAS JEFFERSON FOUNDATION OPERATES THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES, WHICH HOUSES THE THOMAS JEFFERSON LIBRARY. THE CENTER IS ALSO DEVOTED TO EDUCATION OF THE GENERAL PUBLIC AS WELL AS SCHOLARLY RESEARCH AND PUBLICATION, THROUGH THE JEFFERSON LIBRARY, ARCHAEOLOGICAL RESEARCH AND PUBLICATION, AND OTHER ADULT EDUCATION PROGRAMS. THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES ALSO IS RESPONSIBLE FOR THE RESEARCH AND PUBLICATION OF 24 VOLUMES OF RESEARCH, THE PAPERS OF THOMAS JEFFERSON, EMBRACING THE PERIOD FROM JEFFERSON'S RETIREMENT FROM THE PRESIDENCY IN MARCH 1809 UNTIL HIS DEATH IN 1826, KNOWN AS THE "RETIREMENT SERIES". 25225807 true true false false false false false true false true true true false false true true true false false false true false true false false false false true true true true false false false false false false false false false false true true false false false false false false false true 24 0 true 384 true true true false false false false false false false false false false false X 17 17 false false false false false false false true true false false true true true true true true true true false AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X LAURA B TERRY 4349849859 1050 MONTICELLO LOOP ROAD Charlottesville VA 22902 X LESLIE GREENE BOWMAN PRESIDENT 50.0 0.0 X 585548 0 93838 LAURA B TERRY VICE PRESIDENT & CFO 50.0 0.0 X 321615 0 30229 GARY L SANDLING VICE PRESIDENT OF VISITOR SERV 50.0 0.0 X 190556 0 10769 ANDREW J O'SHAUGHNESSY VICE PRESIDENT & SAUNDERS DIR 50.0 0.0 X 181309 0 17879 JOHN J LOONEY EDITOR, THOMAS JEFFERSON PAPER 50.0 0.0 X 149311 0 23017 SHARON L MCELROY DIRECTOR OF RETAIL SALES 50.0 0.0 X 151247 0 15685 PETER G HALLOCK VP, ARCHITECTURE & FAC 50.0 0.0 X 143982 0 20935 ANDREW HUFF DIRECTOR OF IT 50.0 0.0 X 131819 0 16990 GABRIELE RAUSSE DIRECTOR OF VITICULTURE & FARM 50.0 0.0 X 120096 0 14238 MELODY BARNES CHAIRMAN 5.0 0.0 X X 0 0 0 TOBIAS DENGEL VICE CHAIRMAN 1.0 0.0 X X 0 0 0 MOLLY HARDIE SECRETARY 1.0 0.0 X X 0 0 0 DR LD BRITT MD TRUSTEE 1.0 0.0 X 0 0 0 PETER COOLIDGE TRUSTEE 1.0 0.0 X 0 0 0 JOSEPH ERDMAN TRUSTEE 1.0 0.0 X 0 0 0 ANNETTE GORDON-REED TRUSTEE 1.0 0.0 X 0 0 0 RENEE GRISHAM TRUSTEE 1.0 0.0 X 0 0 0 DAVID C LANDIN TRUSTEE 1.0 0.0 X 0 0 0 SUZI LEVINE TRUSTEE 1.0 0.0 X 0 0 0 E CHARLES LONGLEY JR TRUSTEE 1.0 0.0 X 0 0 0 NANCY CAIN MARCUS TRUSTEE 1.0 0.0 X 0 0 0 JON MEACHAM TRUSTEE 1.0 0.0 X 0 0 0 SARAH PEROT TRUSTEE 1.0 0.0 X 0 0 0 GILBERT P SCHAFER III TRUSTEE 1.0 0.0 X 0 0 0 CHRISTOPHER J TOOMEY TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM H WALTON III TRUSTEE 1.0 0.0 X 0 0 0 1975483 0 243580 17 false true false PROGRESS PRINTING 2677 WATERLICK ROAD LYNCHBURG VA 24502 CATALOG PRINTING 567733 GOOGLE INC Dept 33654 PO Box 39000 SAN FRANCISCO CA 94139 CATALOG ADVERTISING 320760 Render Union LLC PO Box 997 PARK CITY UT 84060 CONSULTING 294958 BPO AMERICAN INC 2355 HIGHWAY 101 SOUTH UNIT J GREER SC 29651 CALL CENTER SERVICES 195000 BRAND BUILDING COMMUNICATIONS LLC PO Box 906 Times Square Station NEW YORK NY 10108 PROFESSIONAL SERVICE 191520 10 5934928 7481263 1404965 13416191 ADMISSION FEES 900099 7629050 7629050 FOOD SERVICE SALES 453220 414328 414328 OTHER PROGRAM INCOME 900099 98018 98018 8141396 1538744 1538744 0 43833 43833 196091 1000 195091 0 195091 195091 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10430032 959739 14127391 8289322 5838069 66057104 PRIVATE INVESTMENT COMPANIES 272471795 F INVESTMENT RECEIVABLE 3364498 F 275836293 0 INTEREST RATE SWAP LIABILITY 3071353 ANNUITY & SPLIT-INTEREST LIABI 566343 3637696 X 57420497 -2752817 11456 7426419 4685058 52735439 1303167 1303167 54038606 37020532 11456 5753335 5764791 31255741 1303167 1303167 32558908 PART III, LINES 1A & 4: AFS FOOTNOTE 1 - HISTORIC PROPERTIES AND COLLECTIONS: THE FOUNDATION HAS ELECTED NOT TO CAPITALIZE ITS HISTORIC PROPERTIES AND COLLECTIONS. THESE COLLECTIONS ARE RELATED TO THOMAS JEFFERSON AND HIS PLANTATION HOME, MONTICELLO. THE MOST PRECIOUS ARTIFACT IN THE COLLECTION IS THE HOUSE ITSELF AND THE SURROUNDING LANDSCAPE, WHICH WERE DESIGNED BY THOMAS JEFFERSON BETWEEN 1769 AND 1809. THE CURATORIAL COLLECTIONS CHIEFLY CONSIST OF PAINTINGS, DECORATIVE ARTS AND ARTIFACTS, APPROXIMATELY 2,600 OF WHICH RELATE DIRECTLY TO THOMAS JEFFERSON AND MONTICELLO, AND ABOUT 1,900 BOOKS WITH TITLES AND EDITIONS SELECTED TO DUPLICATE JEFFERSON'S ORIGINAL LIBRARY. ABOUT 40 OF THESE VOLUMES ARE JEFFERSON'S OWN COPIES. THE FOUNDATION'S RESTORATION DEPARTMENT IS DEDICATED TO THE ARCHITECTURAL PRESERVATION OF THE HOUSE, WHILE THE CURATORIAL COLLECTIONS ARE UNDER THE CARE OF A FULL CURATORIAL DEPARTMENT. THE FOUNDATION'S COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN ORDER TO ADVANCE UNDERSTANDING OF JEFFERSON AND MONTICELLO IN FURTHERANCE OF PUBLIC SERVICE. THE FOUNDATION'S COLLECTIONS MANAGEMENT POLICY REQUIRES THAT THE PROCEEDS FROM THE SALE OF ANY ARTIFACT FROM THE FOUNDATION'S COLLECTION WOULD BE USED TO ACQUIRE ADDITIONAL ARTIFACTS FOR THE COLLECTION. THE FOUNDATION DOES NOT RECOGNIZE THE DONATIONS OF COLLECTION ITEMS AS CONTRIBUTION INCOME, AS THE COLLECTIONS ARE NOT CAPITALIZED. PART V, LINE 4: ALL ENDOWMENT INVESTMENTS ARE CLASSIFIED AS NONCURRENT ASSETS TO RECOGNIZE THE FOUNDATION'S INTENT TO CONTINUALLY REINVEST EARNINGS AND PRESERVE PRINCIPAL EXCEPT TO THE EXTENT OF ANY ANNUAL WITHDRAWALS IN ACCORDANCE WITH THE ENDOWMENT SPENDING POLICY. THE FOUNDATION HAS A POLICY OF APPROPRIATING 5% OF THE THREE-YEAR TRAILING AVERAGE OF MARKET VALUES OF ENDOWMENT FUNDS AS OF THE PRECEDING JUNE 30. IN ESTABLISHING THIS POLICY, THE FOUNDATION CONSIDERED ITS INVESTMENT POLICY OBJECTIVE OF ATTAINING AN AVERAGE REAL RETURN OF 5%. ACCORDINGLY, OVER THE LONG TERM, THE SPENDING POLICY WILL MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT. PART X, LINE 2: THE FOUNDATION HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICES (IRS) TO BE EXEMPT FROM TAXES ON INCOME DERIVED FROM ACTIVITIES RELATED TO ITS EXEMPT PURPOSE UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. HOWEVER, THE FOUNDATION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX ON CERTAIN ACTIVITIES WHICH ARE UNRELATED TO ITS EXEMPT PURPOSE. THE FOUNDATION HAS NET OPERATING LOSS CARRYFORWARDS TOTALING APPROXIMATELY $3.5 MILLION, WITH EXPIRATIONS RANGING FROM 2021 TO 2037. A 100% VALUATION ALLOWANCE HAS BEEN RECORDED AGAINST THIS DEFERRED TAX ASSET BECAUSE IT IS UNCERTAIN THAT THE LOSS CARRYFORWARD REPRESENTS A FUTURE TAX BENEFIT. IN ACCORDANCE WITH U.S. GAAP, THE FOUNDATION RECOGNIZES TAX LIABILITIES FOR UNCERTAIN TAX POSITIONS WHEN IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL NOT BE SUSTAINED UPON EXAMINATION AND SETTLEMENT WITH VARIOUS TAXING AUTHORITIES. LIABILITIES FOR UNCERTAIN TAX POSITIONS ARE MEASURED BASED UPON THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS ENDED DECEMBER 31, 2017 AND PRIOR. MANAGEMENT HAS EVALUATED THE FOUNDATION'S TAX POSITIONS AND HAS CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,753,335 Unrealized gain on interest rate swap 1,673,084 ------------ 7,426,419 PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 5,753,335 true Central America and the Caribbean 0 0 Investments 90884175 Europe (Including Iceland and Greenland) 0 0 Grantmaking 3000 0 0 0 0 90887175 90887175 Fellowships - Robert H. Smith Int'l CTR Europe (Including Iceland and Greenland) 1 3000 CHECK false false false false false false PART I, LINE 2: GRANT EXPENDITURES RECEIVE AN ADDITIONAL LEVEL OF REVIEW BEFORE PAYMENT TO ENSURE THAT THE EXPENDITURE IS CONSISTENT WITH GRANT AND/OR GIFT DOCUMENTS. MONTHLY REPORTS ARE SENT TO GRANT PROGRAM PERSONNEL TO TRACK TOTAL GRANT EXPENDITURES. true UNIVERSITY OF VIRGINIA - DEPT OF HISTORY 400 Ray C Hunt Dr Charlottesville VA 22904 546001796 501(C)(3) 12000 FELLOWSHIP SUPPORT FOR GRAD STUDENTS 1 FELLOWSHIPS - ROBERT H. SMITH INTL CENTER 17 82000 PROMISE GRANTS - GETTING WORD 4 20000 PART I, LINE 2: THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES FELLOWSHIP AWARDS ARE MADE TO DOCTORAL CANDIDATES AND POSTDOCTORAL SCHOLARS WORKING ON THOMAS JEFFERSON RELATED OR THOMAS JEFFERSON ERA PROJECTS. MOST ARE EXPECTED TO BE IN RESIDENCE AT THE ROBERT H. SMITH INTERNATIONAL CENTER FOR JEFFERSON STUDIES, WHERE THEY HAVE ACCESS TO THE FOUNDATION'S EXPERT STAFF AND RESEARCH HOLDINGS AT THE JEFFERSON LIBRARY AS WELL AS THOSE OF THE UNIVERSITY OF VIRGINIA. POTENTIAL FELLOWS MUST SUBMIT A SUCCINCT DESCRIPTION OF THE RESEARCH PROJECT (500 WORDS), ONE-PARAGRAPH SUMMARY OF THE PROJECT AND A RESUME. AWARDS ARE MADE TWICE YEARLY. THE APPLICATIONS ARE REVIEWED BY A SELECTION COMMITTEE CONSISTING OF SEVERAL FOUNDATION STAFF MEMBERS AND PROFESSORS AT THE UNIVERSITY OF VIRGINIA HISTORY DEPARTMENT. THE FELLOWSHIP AWARDS ARE GIVEN FOR THE MOST WORTHY PROPOSALS. THE MONTICELLO TEACHER INSTITUTE (MTI) FELLOWSHIP AWARDS ARE MADE TO FULL-TIME SOCIAL STUDIES TEACHERS. IN-TOWN ACCOMMODATIONS AND TRANSPORTATION ARE INCLUDED IN THE MTI FELLOWSHIP AWARD. POTENTIAL FELLOWS ARE CHOSEN BY A SELECTION COMMITTEE BASED ON EVIDENCE OF THE APPLICANT'S SUCCESS AS A TEACHER; DEMONSTRATION THAT THE FELLOWSHIP WILL RELATE TO THE TEACHING SKILLS AND NEEDS OF THE APPLICANT; AND THE COMMITMENT AND QUALIFICATIONS OF THE APPLICANT TO UNDERTAKE A CONCENTRATED STUDY RELATING TO THE LIFE AND TIMES OF THOMAS JEFFERSON, INCLUDING BASIC RESEARCH SKILLS, WRITING PROFICIENCY, AND COMPETENCY USING DIGITAL EDUCATION TOOLS AND TECHNOLOGY. PARTICIPANTS ARE ASKED TO SUBMIT A FINAL REPORT DETAILING THEIR FELLOWSHIP EXPERIENCE, AS WELL AS EDUCATIONAL MATERIALS SUITABLE FOR PUBLICATION ON MONTICELLO'S DIGITAL CLASSROOM WEBSITE. THE FOUNDATION MAINTAINS MULTIPLE CHILDREN'S EDUCATION SCHOLARSHIP FUNDS THAT PROVIDE VISITS TO MONTICELLO, INCLUDING TRANSPORTATION, FREE OF CHARGE. SOME FUNDS AWARD SCHOLARSHIPS TO SCHOOLS IN LOW-INCOME DISTRICTS WITHIN THE STATE OF VIRGINIA. ONE FUND SPECIFICALLY PROVIDES SCHOLARSHIPS FOR ELEMENTARY SCHOOL CHILDREN IN THE AREAS SURROUNDING MONTICELLO. THE PURPOSE OF THESE PROGRAMS IS TO ENRICH STUDENTS' UNDERSTANDING OF THE LIVES OF THOMAS JEFFERSON, HIS FAMILY, AND THE ENSLAVED COMMUNITY AT MONTICELLO. ADDITIONALLY, THE PROGRAMS PROVIDE VALUABLE HISTORICAL INFORMATION TO ENABLE STUDENTS TO UNDERSTAND THE BASIC VALUES, PRINCIPLES, AND OPERATION OF AMERICAN CONSTITUTIONAL DEMOCRACY. THE HISTORIC LANDSCAPE INSTITUTE OFFERS STUDENTS AN INTRODUCTION TO THE FIELDS OF LANDSCAPE HISTORY, GARDEN RESTORATION, AND HISTORICAL HORTICULTURE BY USING THE LANDSCAPES DESIGNED BY THOMAS JEFFERSON AT MONTICELLO AND THE UNIVERSITY OF VIRGINIA AS CASE STUDIES AND OUTDOOR CLASSROOMS. GETTING WORD PROMISE GRANTS PROVIDE SCHOLARSHIPS TO PROVIDE FOR CONTINUING EDUCATION (INCLUDING COLLEGE, COMMUNITY COLLEGE, AND VOCATIONAL SCHOOL) TO STUDENTS WHOSE FAMILIES HAVE BEEN PARTICIPANTS IN THE FOUNDATION'S "GETTING WORD" AFRICAN AMERICAN ORAL HISTORY PROJECT. ELIGIBILITY, AMOUNT OF AWARD, AND DURATION OF THE PROMISE GRANT SCHOLARSHIP ARE DETERMINED BY THE FOUNDATION. EDUCATION SCHOLARSHIPS, MONTICELLO TEACHER INSTITUTE, AND THE HISTORIC LANDSCAPE INSTITUTE PROGRAMS DID NOT OCCUR DURING 2021 DUE TO RESTRICTIONS RELATED TO COVID-19. X true true X X X X false true false false false false false false false LESLIE GREENE BOWMAN PRESIDENT 538382 0 41089 0 6077 0 56400 0 37438 0 679386 0 0 0 LAURA B TERRY VICE PRESIDENT & CFO 282115 0 39500 0 0 0 17400 0 12829 0 351844 0 0 0 ANDREW J O'SHAUGHNESSY VICE PRESIDENT & SAUNDERS DIR 181309 0 0 0 0 0 10936 0 6943 0 199188 0 0 0 GARY L SANDLING VICE PRESIDENT OF VISITOR SERV 167181 0 10000 0 13375 0 10631 0 138 0 201325 0 0 0 JOHN J LOONEY EDITOR, THOMAS JEFFERSON PAPER 149311 0 0 0 0 0 9516 0 13501 0 172328 0 0 0 SHARON L MCELROY DIRECTOR OF RETAIL SALES 141591 0 8000 0 1656 0 8976 0 6709 0 166932 0 0 0 PETER G HALLOCK VP, ARCHITECTURE & FAC 133982 0 10000 0 0 0 9204 0 11731 0 164917 0 0 0 PART I, LINE 1A: THE FOUNDATION HAS A TRAVEL REIMBURSEMENT POLICY IN PLACE WHICH DETAILS TRAVEL ELIGIBLE FOR REIMBURSEMENT. ANY SUCH REQUEST MUST BE APPROVED BY THE EMPLOYEE'S SUPERVISOR. IN THE CASE OF THE FOUNDATION PRESIDENT ALL REIMBURSEMENTS ARE REVIEWED BY THE BOARD CHAIR. THE FOUNDATION REQUIRES MS. BOWMAN TO LIVE IN FOUNDATION-PROVIDED HOUSING. VALUATION OF THE HOUSING PROVIDED IS ASSESSED BY AN INDEPENDENT THIRD-PARTY REALTOR. PART I, LINE 4B: LESLIE GREENE BOWMAN - $39,000 CONTRIBUTION TO NONQUALIFIED DEFERRED COMPENSATION PLAN. A EDA OF ALBEMARLE COUNTY VIRGINIA 521297503 01266PAB7 2011-12-20 29840000 SEE PART VI false false false A 0 0 0 29840000 0 0 0 0 0 0 0 0 2009 true false true true A false false false false 0 false false false true A true true false 0 false false false 0 false true A true PART I, LINE A(F) Current refunding of issuer's variable rate revenue bonds (Thomas Jefferson Foundation, Inc.), Series 2007, issued on June 27, 2007 to finance the costs of construction of a visitor center. X 3 89500 Appraisal X 1 550000 Appraisal X 8497 FAIR MARKET VALUE X 21 752541 FAIR MARKET VALUE X 2 4427 FAIR MARKET VALUE 2 false true false PART I, LINE 9, COLUMN (B): THE ORGANIZATION REPORTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B: THE FOUNDATION'S FORM 990 IS REVIEWED AND APPROVED BY MANAGEMENT AND THEN FORWARDED TO THE AUDIT COMMITTEE FOR REVIEW. UPON APPROVAL BY THE AUDIT COMMITTEE, THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF TRUSTEES AND THEN SUBSEQUENTLY FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C: THE FOUNDATION HAS A WRITTEN "ETHICS POLICY AND CODE OF CONDUCT" WHICH REQUIRES THE BOARD OF TRUSTEES, EMPLOYEES, INTERNS, AND VOLUNTEERS TO ANNUALLY REVIEW THE POLICY AND DISCLOSE IN WRITING ANY POTENTIAL CONFLICTS OF INTEREST. FORM 990, PART VI, SECTON B, LINES 15A AND 15B: THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION FOR OFFICERS AND UPPER MANAGEMENT ANNUALLY. THE FOUNDATION REGULARLY USES SALARY INFORMATION OBTAINED FROM THE FOLLOWING SALARY SURVEYS: ASSOCIATION OF ART MUSEUM DIRECTORS, QUATT NATIONWIDE MUSEUM AND CULTURAL INSTITUTION COMPENSATION SURVEY, AND THE QUATT NOT FOR PROFIT COMPENSATION SURVEY. THE EXECUTIVE COMMITTEE REVIEWS THE SURVEY INFORMATION AS COMPARED WITH THE SALARY PAID TO OFFICERS AND UPPER MANAGEMENT, GIVES INPUT, AND APPROVES THE COMPENSATION. THE EXECUTIVE COMMITTEE HAS THE FINAL APPROVAL FOR ALL OFFICER AND KEY EMPLOYEE COMPENSATION. THE EXECUTIVE COMMITTEE DOCUMENTS ITS REVIEW AND APPROVAL WITHIN THE MINUTES OF THE EXECUTIVE COMMITTEE MEETING. FORM 990, PART VI, SECTION C, LINE 19: THE FOUNDATION DOES NOT PUBLISH ITS ORGANIZATIONAL DOCUMENTS OR ITS "ETHICS POLICY AND CODE OF CONDUCT". THE FOUNDATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE FOR DOWNLOAD VIA THE MONTICELLO.ORG WEBSITE. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON INTEREST RATE SWAP CONTRACT $ 1,673,082