2022-11-11T04:13:14-06:00 2021-12-31 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2021-01-01 135562233 SOLOMON R GUGGENHEIM FOUNDATION SOLO 2123604216 1071 FIFTH AVENUE NEW YORK NY 10128 MARTHA WITHINGTON CFO 2123604216 2022-11-10 1 MARTHA WITHINGTON XXX-XX-XXXX DANIEL ROMANO P00504182 2125990100 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z RICHARD D ARMSTRONG 1071 FIFTH AVENUE NEW YORK NY 10128 98834109 0 X WWW.GUGGENHEIM.ORG X 1937 NY COMMITTED TO INNOVATION, THE SOLOMON R. GUGGENHEIM FOUNDATION COLLECTS, (CONTINUED ON SCHEDULE O) 26 25 476 11 262895 0 27148535 49104795 21072420 16458901 2433089 6248604 2156912 1354362 52810956 73166662 0 0 0 0 31370371 31302789 171705 100894 4784789 29703566 30631852 61245642 62035535 -8434686 11131127 236296508 240294871 111387401 104617477 124909107 135677394 X COMMITTED TO INNOVATION, THE SOLOMON R. GUGGENHEIM FOUNDATION (THE "FOUNDATION") COLLECTS, (CONTINUED ON SCHEDULE O) 0 0 13926120 0 0 AS PART OF ITS MISSION, THE FOUNDATION COLLECTS AND PRESERVES ART FOR THE BENEFIT OF THE PUBLIC IN SEVERAL WAYS. THE CURATORIAL STAFF STUDIES THE ART IN THE FOUNDATION'S POSSESSION, PLANS INTERNATIONAL EXHIBITIONS FOR PUBLIC VIEWING, AND PREPARES AND PUBLISHES SCHOLARLY CATALOGUES AND EDUCATIONAL TEXTS. THE FOUNDATION ALSO LENDS MANY OF THE WORKS OF ART IN ITS COLLECTION TO OTHER MUSEUMS ON THE OCCASION OF SPECIAL EXHIBITIONS THAT ARE OF SCHOLARLY MERIT OR THAT WILL BROADEN THE PUBLIC'S APPRECIATION OF ART. THE FOUNDATION MAINTAINS EXTENSIVE CLIMATE-CONTROLLED, HIGHLY SECURE STORAGE FACILITIES FOR THE ART IN ITS COLLECTION. IT ALSO OPERATES A PHOTOGRAPHY STUDIO FOR THE DOCUMENTATION OF ART AND ARCHIVES TO STORE PHOTOGRAPHS OF ART AND MAKE THEM AVAILABLE TO THE PUBLIC FOR PUBLICATION OR STUDY. (CONTINUED ON SCHEDULE O) 11700520 0 9567000 EXHIBITIONS PRESENTED IN 2021 AT THE SOLOMON R. GUGGENHEIM MUSEUM IN NEW YORK ("GUGGENHEIM MUSEUM") INCLUDED: BRANCUSI (MARCH 17, 2017 - FEBRUARY 8, 2021); THE FULLNESS OF COLOR: 1960'S PAINTING (DECEMBER 18, 2019 - MARCH 15, 2021); COUNTRYSIDE, THE FUTURE (FEBRUARY 20, 2020 - FEBRUARY 15, 2021); KNOTTED, TORN, SCATTERED: SCULPTURE AFTER ABSTRACT EXPRESSIONISM (OCTOBER 3, 2020 - AUGUST 2, 2021); AWAY FROM THE EASEL: JACKSON POLLOCK'S MURAL (OCTOBER 3, 2020 - AUGUST 30, 2021); RE/PROJECTIONS: IN BETWEEN DAYS: VIDEO FROM THE GUGGENHEIM COLLECTION (MARCH 19, 2021 - APRIL 19, 2021), CHRISTIAN NYAMPETA: SOMETIMES IT WAS BEAUTIFUL (APRIL 30, 2021 - JUNE 21, 2021), (CONTINUED ON SCHEDULE O). 5001511 0 6567799 DURING 2021, THE FOUNDATION DIRECTLY OPERATED TWO MUSEUMS: THE SOLOMON R. GUGGENHEIM MUSEUM IN NEW YORK AND THE PEGGY GUGGENHEIM COLLECTION IN VENICE. BOTH MUSEUMS ARE OPEN TO THE PUBLIC, CONDUCT VIRTUAL TOURS OF EXHIBITIONS AND PROVIDE EDUCATIONAL TEXTS FREE OF CHARGE IN FULLFILMENT OF THE FOUNDATION'S MISSION. THE GUGGENHEIM MUSEUM WAS OPEN TO THE PUBLIC ONE EVENING OF EACH WEEK ON A PAY-WHAT-YOU-WISH BASIS, HOSTED A PROGRAM CALLED "SATURDAY ON THE HOUSE" WHICH OFFERED FREE ADMISSION TO ALL VISITORS ONE SATURDAY OF EACH MONTH AND OFFERED REDUCED-PRICE TICKETS TO STUDENTS AND SENIOR CITIZENS. CHILDREN UNDER THE AGE OF 12 ARE ADMITTED FOR FREE. 10264816 0 324102 (1) DISSEMINATING CURRENT SCHOLARSHIP AND PROMOTING LEARNING ARE THE PRIMARY GOALS OF THE MANY EXHIBITION AND COLLECTION CATALOGUES PRODUCED BY THE FOUNDATION. PUBLICATIONS PRESENT SCHOLARLY AND INSTRUCTIVE ART HISTORICAL INFORMATION IN THE FORM OF ESSAYS THAT CONTEXTUALIZE ART WITHIN LARGER MOVEMENTS OR DISCIPLINES; IN-DEPTH DISCUSSIONS OF INDIVIDUAL ARTWORKS; INTERVIEWS WITH ARTISTS AND REFERENCE TOOLS SUCH AS BIBLIOGRAPHIES, BIOGRAPHIES, CHRONOLOGIES, AND EXHIBITION HISTORIES. PUBLICATIONS IN 2021 INCLUDED OBJECT LESSONS: CASE STUDIES IN MINIMAL ART THE GUGGENHEIM PANZA COLLECTION INITIATIVE, VASILY KANDINSKY: AROUND THE CIRCLE, GILLIAN WEARING: WEARING MASKS, AND A REPRINT OF HILMA AF KLINT: PAINTINGS FOR THE FUTURE. (2) SIGNIFICANT EXHIBITION, COLLECTIONS, EDUCATION, AUDIO, VIDEO, AND CATALOGUES ARCHIVES CONTENT IS AVAILABLE TO THE PUBLIC, FREE OF CHARGE, ON GUGGENHEIM.ORG INCLUDING MORE THAN 1,900 ARTWORKS BY MORE THAN 700 ARTISTS IN THE COLLECTION ONLINE. IN 2021 THE FOUNDATION PUBLISHED, 66 VIDEOS AND 122 AUDIO TRACKS, BRINGING THE TOTAL VIDEOS AVAILABLE ON THE SITE TO MORE THAN 600 AND AUDIO TRACKS TO NEARLY 1,200. ADDITIONALLY IN 2021, THE FOUNDATION PUBLISHED 23 BLOG POSTS THAT PROVIDE INSIGHTS INTO EXHIBITIONS, CONTEMPORARY ART, GLOBAL CULTURE, AND MUSEUM ARCHIVES AND HISTORY, BRINGING THE TOTAL NUMBER AVAILABLE ONLINE TO NEARLY 1,100. IN 2021, GUGGENHEIM.ORG HAD APPROXIMATELY 4,995,690 USER SESSIONS, 3,608,338 USERS AND 21,756,645 PAGE VIEWS. THE BLOOMBERG CONNECTS APP HAS PROVIDED DEEP ENGAGEMENT FOR DIVERSE AUDIENCES WITH THE GUGGENHEIM MUSEUM'S MODERN AND CONTEMPORARY ART, IN THE MUSEUM AND AT HOME. THE DOWNLOADABLE APP WAS USED NEARLY 21,000 TIMES IN 2021. IN 2021, THE FOUNDATION'S EDUCATION AND PUBLIC ENGAGEMENT DEPARTMENTS DEMONSTRATED THE GUGGENHEIM'S COMMITMENT TO SERVING AUDIENCES AND WELCOMING VISITORS THROUGH A COMBINATION OF ONSITE AND VIRTUAL ENGAGEMENT. THE EDUCATION DEPARTMENT RE-ESTABLISHED IN-PERSON PROGRAMMING FOR SCHOOL, YOUTH, FAMILY, AND ADULT AUDIENCES. IN ADDITION, THE FOUNDATION'S LEARNING THROUGH ART PROGRAM BROUGHT LIVE INSTRUCTION TO 60 CLASSROOMS ACROSS THE FIVE BOROUGHS OF NEW YORK CITY. DUE TO ONGOING, GLOBAL INTEREST IN VIRTUAL SCHOOL PROGRAMS, THE DEPARTMENT CONTINUED TO OFFER THE POPULAR CHILDREN'S VIDEO SERIES FROM THE PRIOR YEAR, SKETCH WITH JEFF, AND VIRTUAL CLASSES, NOW ENHANCED WITH VIDEO TOURS OF THE MUSEUM. IN 2021, PROGRAMS FOR TEENS WERE EXPANDED TO INCLUDE A YEAR-LONG ACADEMIC PROGRAM. THE ACADEMIC ENGAGEMENT DEPARTMENT HOSTED BOTH AN INTERNSHIP PROGRAM AND A SUMMER COLLEGE WORKSHOP, LAUNCHED A CURATORIAL FELLOWSHIP WITH NYU AND CUNY, AND COLLABORATED WITH A CLASS OF GRAPHIC DESIGN STUDENTS AT RUTGERS UNIVERSITY TO CREATE PUBLICATIONS FOR THE AYE SIMON READING ROOM.THE FOUNDATION'S PUBLIC PROGRAMS DEPARTMENT CONTINUED TO OFFER ONLINE COURSES FOR ADULT AUDIENCES, REACHING OVER 600 PARTICIPANTS FROM AROUND THE WORLD. THE EDUCATION DEPARTMENT ALSO EMBARKED UPON A YEAR-LONG RESIDENCY TO PROVIDE PROGRAMMING FOCUSED AT THE INTERSECTION OF ARCHITECTURE, DESIGN, AND SUSTAINABILITY, WELCOMING 16,300 VIRTUAL AUDIENCE MEMBERS TO THE SYMPOSIUM. DIGITAL CONTENT WAS EXPANDED TO INCLUDE THE MIND'S EYE AUDIO GUIDE TO THE GUGGENHEIM MUSEUM BUILDING, A SENSORY AUDIO EXPERIENCE INTENDED FOR BLIND AND LOW-VISION AUDIENCES; ONE ARTWORK, ONE QUESTION, A VIDEO SERIES FEATURING CURATORS AND GALLERY GUIDES DISCUSSING WORKS IN THE COLLECTION; AND THE GUGGENHEIM CIRCULAR, A SERIES OF WRITTEN EXPLORATIONS OF THE PERMANENT COLLECTION VIEWED THROUGH A LENS OF THE CURRENT TIMES. (3) THE FOUNDATION EDUCATED THE GENERAL PUBLIC THROUGH FREE WITH ADMISSION GUIDED AUDIO TOURS, THE GALLERY GUIDE PROGRAM, WEEKLY ONLINE FAMILY PROGRAMS AND FILM SCREENINGS, COURSES, LECTURES, SYMPOSIA, PERFORMANCES, AND OTHER PROGRAMS. THE GUGGENHEIM MUSEUM WELCOMES STUDENTS AT ALL PUBLIC PROGRAMS AND OFFERS DISCOUNTED OR COMPLIMENTARY TICKETS TO STUDENTS WITH VALID ID. THE FOUNDATION'S MIND'S EYE PROGRAM EXPLORED CURRENT EXHIBITIONS THROUGH TELECONFERENCE MEETINGS AND VERBAL DESCRIPTIONS FOR VISITORS WHO ARE BLIND OR HAVE LOW VISION. VISITORS WHO ARE DEAF OR HARD OF HEARING WERE SERVED THROUGH ASL-INTERPRETED VIDEOS. THE LEARNING THROUGH ART PROGRAM SPONSORED ARTIST RESIDENCIES IN PUBLIC SCHOOLS IN ALL FIVE BOROUGHS OF NEW YORK CITY AND MOUNTED A MONTH LONG EXHIBITION OF STUDENT WORK IN THE MUSEUM'S GALLERIES. EDUCATORS PARTICIPATED IN WEEKEND WORKSHOPS FOCUSED ON CLASSROOM APPLICATIONS THAT CONNECTED EXHIBITION THEMES WITH STEM CONCEPTS. FAMILY PROGRAMS WERE AVAILABLE TO VISITORS, ENCOURAGING THEM TO DISCOVER THE MUSEUM FROM HOME THROUGH FAMILY TOURS AND ART MAKING WORKSHOPS. AT THE END OF 2021, THE MUSEUM RETURNED TO HOSTING IN-PERSON FAMILY PROGRAMS AND INVITED VISITORS TO UTILIZE THE WEEKLY DROP-IN KIOSK FOR FREE GUIDES AND ACTIVITY PACKS. K-12 SCHOOL GROUPS PARTICIPATED IN INTERACTIVE MUSEUM TOURS THAT WERE CUSTOMIZED FOR CHILDREN WITH DEVELOPMENTAL OR SPECIAL NEEDS. (4) THE GUGGENHEIM ABU DHABI WILL BE LOCATED IN THE CULTURAL DISTRICT OF SAADIYAT ISLAND IN ABU DHABI, THE CAPITAL OF THE UNITED ARAB EMIRATES (UAE). DESIGNED BY INTERNATIONALLY RENOWNED ARCHITECT FRANK GEHRY, THE FUTURE MUSEUM WILL HOUSE ITS OWN MODERN AND COMTEMPORARY ART COLLECTION AND PRESENT SPECIAL EXHIBITIONS. 10264816 0 324102 40892967 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 1 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 0 0 0 1 X 213 0 1 476 1 1 1 1 BD CA CJ EI IT LU UK VI UC 0 0 0 1 1 0 0 0 0 0 0 X 26 25 1 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA WA WV WI X X COLETTE CHESTNUT 2123604216 1071 FIFTH AVENUE NEW YORK NY 10128 RICHARD ARMSTRONG TRUSTEE/DIR. OF MUSEUM & FDTN. 40.00 0.00 X X 805652 0 816054 JON IMANOL AZUA TRUSTEE 3.00 0.00 X 0 0 0 LISA BAKER TRUSTEE (AS OF 05/2021) 3.00 0.00 X 0 0 0 JOHN CALICCHIO TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 CINDY CHUA-TAY TRUSTEE 3.00 0.00 X 0 0 0 PAUL CRONSON TRUSTEE 3.00 0.00 X 0 0 0 DIMITRIS DASKALOPOULOS TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 CHARLES M DIKER TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 THOMAS ELLIS TRUSTEE (AS OF 02/2021) 3.00 0.00 X 0 0 0 GAIL MAY ENGELBERG TRUSTEE 3.00 0.00 X 0 0 0 WENDY FISHER TRUSTEE/PRESIDENT 8.00 0.00 X X 0 0 0 ANDREW GUNDLACH TRUSTEE 3.00 0.00 X 0 0 0 J TOMILSON HILL TRUSTEE/VP; CHAIR (AS OF 11/2021) 3.00 0.00 X X 0 0 0 RASHID JOHNSON TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 FRANCESCA LAVAZZA TRUSTEE 3.00 0.00 X 0 0 0 PETER LAWSON-JOHNSTON TRUSTEE/HONORARY CHAIR 3.00 0.00 X X 0 0 0 PETER LAWSON-JOHNSTON II TRUSTEE 3.00 0.00 X 0 0 0 WILLIAM L MACK TRUSTEE/CHAIR OF THE BOARD TO 11/21 8.00 0.00 X X 0 0 0 LINDA MACKLOWE TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 WENDY L-J MCNEIL TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 EDWARD H MEYER TRUSTEE/VICE-PRESIDENT (THRU 12/21) 3.00 0.00 X X 0 0 0 VLADIMIR O POTANIN TRUSTEE 2.00 0.00 X 0 0 0 CLAUDIA RANKINE TRUSTEE (AS OF 10/2021) 3.00 0.00 X 0 0 0 STEPHEN ROBERT TRUSTEE/TREASURER 3.00 0.00 X X 0 0 0 BRIAN ROBINSON TRUSTEE (AS OF 02/2021) 3.00 0.00 X 0 0 0 DENISE SAUL TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 BARBARA SLIFKA TRUSTEE 3.00 0.00 X 0 0 0 MARK R WALTER TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH DUGGAL TAGHIPOUR SENIOR DEPUTY DIRECTOR & COO 40.00 0.00 X 393689 0 9171 SARAH G AUSTRIAN DEP DIR, GEN COUNSEL & SEC. 40.00 0.00 X 369708 0 30581 MARTHA WITHINGTON CFO 40.00 0.00 X 324775 0 48231 DANA WALLACH JONES ASST GEN COU/ASST SECRETARY 24.00 0.00 X 110113 0 3303 KAROLE VAIL DIR, PEGGY GUGGENHEIM COLLECTION 40.00 0.00 X 244146 0 104948 NAOMI BECKWITH AS OF 0621 DEP DIR & STOCKMAN CHIEF CURATOR 40.00 0.00 X 183664 0 7422 LEAH HEISTER BURTON DEPUTY DIRECTOR, ADVANCEMENT 40.00 0.00 X 276850 0 30763 SARAH EATON DIR. MEDIA & PUBLIC REL. 40.00 0.00 X 199268 0 38626 JUAN IGNACIO VIDARTE DEP. DIR & CO FOR GLOBAL STRAT 20.00 0.00 X 198349 0 5950 CYRA LEVENSON DEP DIR&ENGELBERG DIR EDUC&PUB ENG 40.00 0.00 X 222848 0 33066 CAROL STRINGARI DEPUTY DIRECTOR & CHIEF CONS. 40.00 0.00 X 194089 0 18992 BEN RAWLINGSON PLANT DEP DIR GBL COMMS PUB AFFAIRS 40.00 0.00 X 296838 0 11378 NANCY SPECTOR FORMER ARTISTIC DIR&STOCKMAN CURATOR 0.00 0.00 X 320000 0 0 4139989 0 1158485 54 1 1 0 CROTHALL HEALTHCARE 1500 LIBERTY RIDGE DR 210 WAYNE PA 19087 JANITORIAL 1035398 ALLIED UNIVERSAL 85 BROAD STREET NEW YORK NY 10004 SECURITY 752981 APPOMATTOX ADVISORY INC 551 5TH AVE 26 NEW YORK NY 10176 INV. MGMT. SERVICES 584371 THE CLARION GROUP 920 FARMINGTON AVE 100 WEST HARTFORD CT 06170 CONSULTING 511403 SITUATION INTERACTIVE 469 7TH AVENUE SUITE 1300 NEW YORK NY 10018 MEDIA PLACEMENT 460501 29 3149298 2494712 21097557 22363228 2080027 49104795 ADMISSION INCOME 712110 6891901 6891901 MUSEUM AND PROGRAM COLLABORATIONS 712110 6885363 6885363 EXHIBITIONS 712110 2681637 2681637 16458901 581801 581801 1005981 136847 869134 14732 0 14732 14732 14732 29386607 23719804 5666803 5666803 5666803 917868 2494712 1516445 -598577 -598577 1091837 431198 660639 126048 534591 CORPORATE EVENTS 900099 164680 164680 TAX REFUNDS/CREDITS 900099 51717 51717 55190 55190 271587 73166662 16458901 262895 7340071 4335511 1017857 3033342 284312 22036966 15906960 4053535 2076471 815061 603585 154630 56846 2413954 3257731 -1201183 357406 1701297 1174311 399691 127295 1030319 431182 599137 590687 283183 307504 548623 548623 90635 90635 100894 100894 875547 875547 4238009 2900779 1227728 109502 992269 197723 754563 39983 1006976 350617 386880 269479 1438829 22297 1413176 3356 16641 16641 8684012 6555002 1790295 338715 534766 285281 145296 104189 48450 10694 774 36982 858113 718109 107256 32748 4684999 3924904 577521 182574 952060 308676 643384 ART PURCHASES 1206500 1206500 SUPPLIES AND MATERIALS 776531 551853 206076 18602 ART SHIPPING & CRATING 375288 368517 6771 1682598 1231747 404553 46298 62035535 40892967 16357779 4784789 17383653 25947753 3033200 4069639 10700750 12709715 1797926 2126436 845415 749641 1765315 681497 122220329 77471782 49543016 44748547 36354478 35565932 94043928 91615408 20828827 22080303 236296508 240294871 12425298 12111945 43638316 42212941 28080726 22184111 27243061 28108480 111387401 104617477 X -10505417 -2642911 135414524 138320305 124909107 135677394 236296508 240294871 X 11131127 421835 -784675 X 0 1 X 1 0 X 23247345 41588253 31680309 27148535 49104795 172769237 23247345 41588253 31680309 27148535 49104795 172769237 10603603 162165634 2831682 1536113 3052099 1702076 1465667 10587637 1754719 1621366 1195673 156554 262895 4991207 2200611 1713658 13251758 1478183 1189455 19833665 208181746 127273657 0.77900 0.72380 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2017 AMOUNT: $ 1,089,687. 2018 AMOUNT: $ 919,190. 2019 AMOUNT: $ 822,373. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 917,868. ART SALE PROCEEDS - 2017 AMOUNT: $ 35,200. 2018 AMOUNT: $ 11,650. 2019 AMOUNT: $ 11,579,127. 2020 AMOUNT: $ 1,005,078. 2021 AMOUNT: $ 0. CORPORATE EVENTS - 2017 AMOUNT: $ 701,517. 2018 AMOUNT: $ 468,002. 2019 AMOUNT: $ 406,500. 2020 AMOUNT: $ 52,500. 2021 AMOUNT: $ 164,680. RESTAURANT INCOME - 2017 AMOUNT: $ 371,689. 2018 AMOUNT: $ 311,707. 2019 AMOUNT: $ 435,889. 2020 AMOUNT: $ 417,461. 2021 AMOUNT: $ 0. MISCELLANEOUS INCOME - 2017 AMOUNT: $ 2,518. 2018 AMOUNT: $ 3,109. 2019 AMOUNT: $ 7,869. 2020 AMOUNT: $ 3,144. 2021 AMOUNT: $ 55,190. TAX REFUNDS/CREDITS - 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 51,717. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 45635 0 0 45635 0 PART II-B, LINE 1: THE FOUNDATION'S RETAINED LOBBYIST AND A LIMITED NUMBER OF FOUNDATION EMPLOYEES MET DIRECTLY WITH PUBLIC OFFICIALS, ON A LIMITED NUMBER OF OCCASIONS, TO DISCUSS ENGAGEMENT WITH CITY ELECTED OFFICIALS AND RELATED LEGISLATIVE PROPOSALS FOR MUSEUM FUNDING. 1 X X X X 0 130634540 7053835 5188548 9110673 133766250 102669105 5361791 18665464 -3938180 130634540 85538857 8770359 10960534 2600645 102669105 92009498 17698991 -3803978 20365654 85538857 84312689 7377483 9226659 8907333 92009498 0.23500 0.63700 0.12800 0 0 2631849 2631849 101286941 67763162 33523779 14638814 7068434 7570380 3163673 2602870 560803 499052 37316 461736 44748547 EQUITY FUNDS 56698887 F FIXED INCOME FUNDS 14622050 F EVENT/CREDIT ARBITRAGE FUNDS 4924940 F FUND OF HEDGE FUNDS 10681102 F INTERNATIONAL FUNDS 4688429 F 91615408 RIGHT-OF-USE ASSET 22080303 22080303 LEASE LIABILITY 28108480 28108480 X 73345628 421835 201480 623315 72722313 875547 -431198 444349 73166662 61792666 201480 431198 632678 61159988 875547 875547 62035535 PART III, LINE 1A: IN ACCORDANCE WITH INDUSTRY PRACTICE, ART OBJECTS PURCHASED, DONATED AND BEQUEATHED ARE INCLUDED IN PERMANENTLY RESTRICTED NET ASSETS AT A VALUE OF $1. CONTRIBUTIONS FOR THE PURCHASE OF COLLECTION ITEMS, NET ASSETS RELEASED FROM RESTRICTIONS FOR COLLECTION ITEMS PURCHASED AND DIRECT CARE OF THE COLLECTION, THE COST OF ALL COLLECTION ITEMS PURCHASED AND PROCEEDS FROM THE SALE OF DEACCESSIONED ART ARE REPORTED AS CHANGES IN NET ASSETS RELATED TO COLLECTION ITEMS PURCHASED AND SOLD IN THE STATEMENT OF ACTIVITIES. PART III, LINE 4: THE FOUNDATION'S PERMANENT COLLECTION WAS FORMED IN LARGE PART THROUGH THE ACQUISITION OF NOTABLE PRIVATE COLLECTIONS, AUGMENTED BY ACQUISITIONS UNDER THE LEADERSHIP OF THE FOUNDATION'S DIRECTORS AND CURATORS, AND WITH THE SUPPORT OF THE FOUNDATION'S ACQUISITION GROUPS. THESE COLLECTIONS FORM A UNIQUE GLOBAL COLLECTION THAT REFLECTS THE RICH TRAJECTORY OF ART FROM THE LATE 19TH CENTURY THROUGH THE PRESENT. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE USED FOR EDUCATIONAL PROGRAMS, IN SUPPORT OF CURATORIAL AND EDUCATION POSITIONS AND FOR ART PURCHASES, SCHOLARLY PUBLICATIONS, EXHIBITIONS, THE PGC'S INTERNSHIP PROGRAM, CONSERVATION AND COLLECTION CARE, A CONSERVATION FELLOWSHIP, AND FOR GENERAL SUPPORT OF THE FOUNDATION'S OPERATIONS. PART X, LINE 2: THE FOUNDATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE ("THE CODE"), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE FOUNDATION'S PEGGY GUGGENHEIM COLLECTION OPERATIONS IN ITALY ARE SUBJECT TO TAXATION UNDER THE ITALIAN AGENCY OF REVENUE. THE FOUNDATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE FOUNDATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN ITS FINANCIAL STATEMENTS. IN ADDITION, THE FOUNDATION HAS NOT RECORDED A PROVISION FOR INCOME TAXES, AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -431,198. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 431,198. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ART PURCHASES 45000 EUROPE (INCLUDING ICELAND & GREENLAND) 1 43 PROGRAM SERVICES PEGGY GUGGENHEIM COLLECTION; GUGGENHEIM MUSEUM BILBAO 571103 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES GUGGENHEIM ABU DHABI 361313 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 48398493 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 35424269 1 43 0 0 1 43 84800178 0 84800178 1 1 1 0 0 1 PART III ACCOUNTING METHOD: X X X X X X 1 DANILLER AND COMPANY 3724 JEFFERSON ST AUSTIN TX 78731 FUNDRAISING CONSULTING 0 1115864 100894 1014970 1115864 100894 1014970 AL AK AZ AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA WA WV WI FALL INT'L GALA 3253712 2335844 917868 1478691 YEAR W/CHILD 158868 158868 37754 3412580 2494712 917868 1516445 1516445 -598577 X X X X X 1 1 0 0 0 0 0 0 0 RICHARD ARMSTRONG TRUSTEE/DIR. OF MUSEUM & FDTN. 805652 0 0 0 0 0 798532 0 17522 0 1621706 0 755094 0 ELIZABETH DUGGAL TAGHIPOUR SENIOR DEPUTY DIRECTOR & COO 393689 0 0 0 0 0 8700 0 471 0 402860 0 0 0 SARAH G AUSTRIAN DEP DIR, GEN COUNSEL & SEC. 369708 0 0 0 0 0 15950 0 14631 0 400289 0 0 0 MARTHA WITHINGTON CFO 324775 0 0 0 0 0 15950 0 32281 0 373006 0 0 0 KAROLE VAIL DIR, PEGGY GUGGENHEIM COLLECTION 244146 0 0 0 0 0 17238 0 87710 0 349094 0 0 0 NANCY SPECTOR FORMER ARTISTIC DIR&STOCKMAN CURATOR 0 0 0 0 320000 0 0 0 0 0 320000 0 0 0 BEN RAWLINGSON PLANT DEP DIR GBL COMMS PUB AFFAIRS 296838 0 0 0 0 0 0 0 11378 0 308216 0 0 0 LEAH HEISTER BURTON DEPUTY DIRECTOR, ADVANCEMENT 276850 0 0 0 0 0 4220 0 26543 0 307613 0 0 0 CYRA LEVENSON DEP DIR&ENGELBERG DIR EDUC&PUB ENG 222848 0 0 0 0 0 0 0 33066 0 255914 0 0 0 SARAH EATON DIR. MEDIA & PUBLIC REL. 199268 0 0 0 0 0 11196 0 27430 0 237894 0 0 0 CAROL STRINGARI DEPUTY DIRECTOR & CHIEF CONS. 194089 0 0 0 0 0 8693 0 10299 0 213081 0 0 0 JUAN IGNACIO VIDARTE DEP. DIR & CO FOR GLOBAL STRAT 198349 0 0 0 0 0 5950 0 0 0 204299 0 0 0 NAOMI BECKWITH AS OF 0621 DEP DIR & STOCKMAN CHIEF CURATOR 159371 0 0 0 24293 0 0 0 7422 0 191086 0 0 0 PART I, LINES 4A-B LINE 4A END OF SERVICE PAYMENTS WERE MADE IN THE AMOUNT OF $320,000 TO THE FORMER ARTISTIC DIRECTION AND CHIEF CURATOR. LINE 4B NONQUALIFIED RETIREMENT PLAN THE DIRECTOR OF THE MUSEUM AND FOUNDATION PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. AN ACCRUAL FOR FUTURE PAYMENTS HAS BEEN MADE AND IS REFLECTED ABOVE. PART II, COLUMN C - DEFERRED COMPENSATION: UNDER A MULTI-YEAR CONTRACTUAL AGREEMENT WITH MR. ARMSTRONG, SCHEDULE J, COLUMN C INCLUDES DEFERRED COMPENSATION OF $736,200 FOR CONTINUED SERVICE TO JANUARY 2022 WITH $368,100 PAID IN JANUARY 2022 AND $368,100 TO BE PAID IN JANUARY 2023. X 23 0 N/A X 20 2080027 FMV 0 0 1 1 PART I, COLUMN (B): THE FOUNDATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 32B: THE FOUNDATION ENGAGES THIRD PARTIES TO SELL DEACCESSIONED WORKS OF ART AND WORKS OF ART THAT HAVE NOT BEEN ACCESSIONED. SCHEDULE M, LINE 33: IN ACCORDANCE WITH INDUSTRY PRACTICE, ART OBJECTS PURCHASED, DONATED AND BEQUEATHED ARE INCLUDED IN PERMANENTLY RESTRICTED NET ASSETS AT A VALUE OF $1. CONTRIBUTIONS FOR THE PURCHASE OF COLLECTION ITEMS, NET ASSETS RELEASED FROM RESTRICTIONS TO PURCHASE COLLECTION ITEMS, THE COST OF ALL ART PURCHASED AND THE PROCEEDS FROM THE SALE OF ART ARE REPORTED AS CHANGES IN NET ASSETS RELATED TO COLLECTION ITEMS PURCHASED AND SOLD IN THE STATEMENT OF ACTIVITIES. FORM 990, PART I, LINE 1 & PART III, LINE 1: MISSION STATEMENT (CONTINUED) PRESERVES, AND INTERPRETS MODERN AND CONTEMPORARY ART, AND EXPLORES IDEAS ACROSS CULTURES THROUGH DYNAMIC CURATORIAL AND EDUCATIONAL INITIATIVES AND COLLABORATIONS. WITH ITS CONSTELLATION OF ARCHITECTURALLY AND CULTURALLY DISTINCT MUSEUMS, EXHIBITIONS, PUBLICATIONS, AND DIGITAL PLATFORMS, THE FOUNDATION ENGAGES BOTH LOCAL AND GLOBAL AUDIENCES. FORM 990, PART III, LINE 4A (CONTINUED): THE FOUNDATION MAINTAINS TWO ART CONSERVATION LABS TO PROPERLY CARE FOR THE ART IN ITS POSSESSION; IT ALSO CONDUCTS RESEARCH ON NEW TECHNIQUES IN ART CONSERVATION. IN 2021, THE FOUNDATION ACQUIRED PAINTINGS BY ETEL ADNAN, CARLITO CARVALHOSA, JIM DINE, JEAN DUNAND, JENNIE C. JONES, GUILLERMO KUITCA, CANDICE LIN, CHRISTOPHER MYERS, SIR WILLIAM ORPEN, JENNIFER PACKER, TSCHABALALA SELF, VIVIAN SPRINGFORD, NICOLAS URIBURU, KENNETH YOUNG. THE FOUNDATION ALSO ACQUIRED SCULPTURES BY JOHN CHAMBERLAIN, RAFA ESPARZA, LUCIA HIERRO, KANG SEUNG LEE, GUADALUPE MARAVILLA, SENGA NENGUDI AND ROSE B. SIMPSON, AS WELL AS A MIXED MEDIA WORK BY TOMASHI JACKSON. THE FOUNDATION ACQUIRED FILM AND VIDEO WORKS AND INSTALLATIONS BY SUZANNE BOCANEGRA, SKY HOPINKA, STEFFANI JEMISON, NALINI MALANI, CHRISTIAN NYAMPETA, WU TSANG, AS WELL AS PHOTOGRAPHS BY LAURA AGUILAR, GREGORY CREWDSON, CHARLES GAINES, DEANA LAWSON, CATHERINE OPIE, YINKA SHONIBARE CBE, THOMAS STRUTH AND GILLIAN WEARING. THE FOUNDATION ALSO ACQUIRED WORKS ON PAPER BY KARL HAENDEL, CHITRA GANESH, MARTINE GUTIERREZ AND ON KAWARA. THE TOTAL NUMBER OF WORKS ACQUIRED BY THE FOUNDATION IN 2021 WAS 51. FORM 990, PART III, LINE 4B (CONTINUED): RAGNAR KJARTANSSON: ROMANTIC SONGS OF THE PATRIARCHY (JULY 2, 2021 - JULY 12, 2021), WU TSANG: ANTHEM (JULY 23, 2021 - SEPTEMBER 6, 2021); OFF THE RECORD (APRIL 2, 2021 - SEPTEMBER 27, 2021); A YEAR WITH CHILDREN 2021 (APRIL 30, 2021 - JUNE 21, 2021); HUGO BOSS PRIZE: DEANA LAWSON (MAY 7, 2021 - OCTOBER 11, 2021); ETEL ADNAN (OCTOBER 22, 2021 - JANUARY 10, 2022); KANDINSKY (OCTOBER 22, 2021 - SEPTEMBER 5, 2022); GILLIAN WEARING, WEARING MASKS (NOVEMBER 5, 2021 - APRIL 4, 2022). EXHIBITIONS PRESENTED IN 2021 AT THE PEGGY GUGGENHEIM COLLECTION IN VENICE INCLUDED: MIGRATING OBJECTS: ARTS OF AFRICA, OCEANIA, AND THE AMERICAS (OCTOBER 6, 2021 - JANUARY 10, 2022). SELECTIONS FROM THE HANNELORE B. AND RUDOLPH B. SCHULHOF COLLECTION WERE ALSO ON VIEW. EXHIBITIONS PRESENTED IN 2021 AT THE GUGGENHEIM MUSEUM BILBAO INCLUDED: OLAFUR ELIASSON: IN REAL LIFE (FEBRUARY 14, 2020 - APRIL 11, 2021; WILLIAM KENTRIDGE: 7 FRAGMENTS (MARCH 12, 2020 - FEBRUARY 7, 2021); LEE KRASNER: LIVING COLOR (SEPTEMBER 18, 2020 - JANUARY 10, 2021); KANDINSKY (NOVEMBER 20, 2020 - MAY 23, 2021); BILBAO AND PAINTING (JANUARY 29, 2021 - AUGUST 29, 2021); ALEX REYNOLDS: THERE IS A LAW, THERE IS A HAND, THERE IS A SONG (FEBRUARY 29, 2021 - JUNE 20, 2021); THE ROARING TWENTIES (MAY 7, 2021 - SEPTEMBER 19, 2021); CECILIA BENGOLEA (JULY 1, 2021 - OCTOBER 24, 2021); ALICE NEEL (SEPTEMBER 17, 2021 - JANUARY 23, 2022); SHARON LOCKHART (NOVEMBER 4, 2021 - FEBRUARY 27, 2022); WOMEN IN ABSTRACTION (OCTOBER 22, 2021 - FEBRUARY 27, 2022). ADDITIONALLY, SELECTIONS FROM THE GUGGENHEIM MUSEUM BILBAO WERE ALSO ON VIEW. FORM 990, PART VI, SECTION A, LINE 1A THE FOUNDATION'S BY-LAWS PROVIDE THAT THE EXECUTIVE COMMITTEE MAY EXERCISE ALL OF THE POWERS OF THE BOARD OF TRUSTEES DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD, EXCEPT: (1) THE POWER TO ELECT OR REMOVE TRUSTEES OR OFFICERS ELECTED BY THE TRUSTEES, (2) THE POWER TO FILL VACANCIES WHICH MAY OCCUR IN THE BOARD OF TRUSTEES OR IN ANY COMMITTEE, (3) THE FIXING OF COMPENSATION OF TRUSTEES FOR SERVING ON THE BOARD OF TRUSTEES OR ANY COMMITTEE, (4) THE AMENDMENT OR REPEAL OF THE BY-LAWS OR THE ADOPTION OF NEW BY-LAWS, (5) THE AMENDMENT OR REPEAL OF ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS TERMS SHALL NOT BE SO AMENDABLE OR REPEATABLE, (6) THE APPROVAL OF A MERGER OR PLAN OF DISSOLUTION, (7) THE AUTHORIZATION OF THE SALE, LEASE, EXCHANGE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE FOUNDATION, AND (8) THE APPROVAL OF AMENDMENTS TO THE CHARTER OF THE FOUNDATION. ON DECEMBER 31, 2021, THERE WERE 10 MEMBERS OF THE EXECUTIVE COMMITTEE. THERE ARE NO MEMBERS OF THE EXECUTIVE COMMITTEE WHO ARE NOT TRUSTEES. FORM 990, PART VI, SECTION A, LINE 2 PETER LAWSON-JOHNSTON, WENDY L-J. MCNEIL AND PETER LAWSON-JOHNSTON II, FAMILY RELATIONSHIP; PETER LAWSON-JOHNSTON II AND MARK WALTER, BUSINESS RELATIONSHIP; LISA BAKER AND WILLIAM MACK, BUSINESS RELATIONSHIP; ANDREW GUNDLACH AND J. TOMILSON HILL, BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE FOUNDATION'S BY-LAWS WERE AMENDED TO (1) LIMIT THE TERM OF SERVICE OF THE CHAIR AND PRESIDENT OF THE BOARD TO TWO CONSECUTIVE FOUR-YEAR TERMS (EXCEPT THE INITIAL TERM OF THE CHAIR ELECTED IN SPRING 2022 WILL BE FIVE YEARS TO ENSURE THE CHAIR AND PRESIDENT ARE NOT UP FOR ELECTION IN THE SAME YEAR AND THE INITIAL TERM OF THE PRESIDENT ELECTED IN SPRING 2022 WILL NOT TAKE INTO ACCOUNT PRIOR YEARS OF SERVICE); (2) DISBAND THE ADVANCEMENT COMMITTEE AND (3) ESTABLISH A COMMUNICATIONS COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S FORM 990 IS PREPARED BY AN EXTERNAL CPA FIRM WITH THE SUPPORT OF THE FOUNDATION'S FINANCE AND LEGAL DEPARTMENTS. IT IS THEN REVIEWED BY THE CHIEF FINANCIAL OFFICER AND INTERIM CHIEF OPERATING OFFICER AND THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY. THE DRAFT OF FORM 990 IS THEN DISTRIBUTED TO THE AUDIT AND EXECUTIVE COMMITTEE MEMBERS FOR REVIEW. A MEETING IS HELD WITH THE AUDIT AND EXECUTIVE COMMITTEES FOR FURTHER REVIEW AND APPROVAL. THE FORM 990 IS THEN DISTRIBUTED TO THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C PURSUANT TO THE CONFLICT OF INTEREST POLICY FOR TRUSTEES AND OFFICERS, TRUSTEES AND OFFICERS DISCLOSE ANNUALLY IN WRITING ANY POTENTIAL OR ACTUAL CONFLICTS AND ARE REQUIRED TO DISCLOSE ANY CONFLICTS THAT ARISE DURING THE YEAR. PROSPECTIVE TRUSTEES ARE ALSO REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE DISCLOSURES TOGETHER WITH THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY. PURSUANT TO THE CODE OF ETHICS, EMPLOYEES MUST DISCLOSE ANY TRANSACTIONS OR RELATIONSHIPS THAT MAY GIVE RISE TO A POTENTIAL OR ACTUAL CONFLICT OF INTEREST WITH THE FOUNDATION. IN ADDITION, EMPLOYEES CONSIDERING ENTERING INTO ANY SUCH TRANSACTION OR RELATIONSHIP MUST OBTAIN APPROVAL IN ADVANCE FROM EITHER THE EMPLOYEE'S SUPERVISOR OR THE ETHICS COMMITTEE, IN ACCORDANCE WITH THE CODE OF ETHICS. ALL NEW HIRES ARE PRESENTED WITH THE CODE OF ETHICS, WHICH IS ALSO AVAILABLE ELECTRONICALLY ON THE FOUNDATION'S INTRANET. HIGHLIGHTS OF THE POLICY ARE DISCUSSED DURING NEW HIRE ORIENTATION AND EXAMPLES ARE GIVEN. ALL NEW EMPLOYEES ARE ASKED TO SIGN A STATEMENT ATTESTING TO THE FACT THAT THEY HAVE BEEN GIVEN A COPY OF THE CODE OF ETHICS, THAT IT HAS BEEN EXPLAINED TO THEM, AND THAT THEY ARE RESPONSIBLE FOR ADHERING TO IT. IN ADDITION, REGULAR MEETINGS ARE HELD TO REVIEW THE CODE OF ETHICS WITH CURRENT STAFF. THE DIRECTOR, THE CHIEF OPERATING OFFICER AND THE GENERAL COUNSEL AND SECRETARY MUST DISCLOSE TO THE AUDIT COMMITTEE ANY TRANSACTION OR RELATIONSHIP THAT MAY GIVE RISE TO A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE CHARTER FOR THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES DESCRIBES THE PROCESS THE COMMITTEE USES FOR DETERMINING THE COMPENSATION OF THE DIRECTOR OF THE MUSEUM AND FOUNDATION AND OTHER MEMBERS OF THE EXECUTIVE STAFF OF THE FOUNDATION. IN 2021, THE "EXECUTIVE STAFF" OF THE FOUNDATION INCLUDED THE SENIOR DEPUTY DIRECTOR AND CHIEF OPERATING OFFICER; THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY; THE DEPUTY DIRECTOR, ADVANCEMENT; THE DEPUTY DIRECTOR, GLOBAL PUBLIC AFFAIRS AND COMMUNICATIONS; THE DIRECTOR OF THE PEGGY GUGGENHEIM COLLECTION; THE DEPUTY DIRECTOR OF EDUCATION AND PUBLIC ENGAGEMENT; THE DEPUTY DIRECTOR, CHIEF HUMAN RESOURCES OFFICER; THE DEPUTY DIRECTOR, CHIEF CULTURE AND INCLUSION OFFICER, AND THE DEPUTY DIRECTOR AND JENNIFER AND DAVID STOCKMAN CHIEF CURATOR. THAT PROCESS INCLUDES: (1) REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE; (2) THE USE OF COMPARABLE DATA; AND (3) CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATIONS AND DECISIONS, AND ARE REFLECTED IN THE MINUTES OF THE COMPENSATION COMMITTEE. IN 2021 THE COMPENSATION COMMITTEE USED THIS PROCESS TO APPROVE THE SALARIES OF THREE NEW HIRES IN 2021 (1)THE DEPUTY DIRECTOR AND JENNIFER AND DAVID STOCKMAN CHIEF CURATOR, (2)THE DEPUTY DIRECTOR, CHIEF HUMAN RESOURCES OFFICER AND (3)THE DEPUTY DIRECTOR, CHIEF CULTURE AND INCLUSION OFFICER); APPROVE AN END OF SERVICE PAYMENT TO THE SENIOR DEPUTY DIRECTOR, CHIEF OPERATING OFFICER; AND TO APPROVE THE ADJUSTMENT OF THE SALARY OF THE DEPTY DIRECTOR, ADVANCEMENT. THE COMPENSATION COMMITTEE CONSISTS ENTIRELY OF TRUSTEES WHO ARE NOT EMPLOYEES. IN 2021, SALARIES OF THE DIRECTOR AND FOUNDATION EMPLOYEES WITH AN ANNUAL BASE SALARY OF $80,000 OR ABOVE WERE REDUCED IN 2020 AS A RESULT OF THE PANDEMIC'S IMPACT ON THE FOUNDATION'S FINANCIAL POSITION. THESE SALARIES WERE RESTORED TO PRE-PANDEMIC LEVELS WITH THE APPROVAL OF THE FOUNDATION'S EXECUTIVE COMMITTEE WHICH CONSISTS ENTIRELY OF INDEPENDENT TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY FOR TRUSTEES AND OFFICERS, AND FORMS 1023 AND 990-T ARE AVAILABLE UPON WRITTEN REQUEST OR A REQUEST MADE IN PERSON. THE FOUNDATION'S FORM 990 AND AUDITED FINANCIALS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION -560,681. LOSS ON DISPOSAL OF ASSETS -224,000. ROUNDING 6. THE FASB UPDATED THE DEFINITION OF COLLECTIONS (ASU 2019-03 TOPIC 958): THE UPDATED DEFINITION PERMITS THE PROCEEDS FROM DEACCESSIONED COLLECTION ITEMS TO BE USED NOT ONLY FOR THE ACQUISITION OF NEW COLLECTION ITEMS BUT ALSO FOR THE DIRECT CARE OF THE COLLECTION. THE BOARD OF TRUSTEES UPDATED THE FOUNDATION'S COLLECTION MANAGEMENT POLICY TO DEFINE DIRECT CARE OF THE COLLECTION. DURING 2021 THE FOUNDATION USED $5,731,665 OF FUNDS FROM DEACCESSIONING TO SUPPORT THE DIRECT CARE OF THE COLLECTION. GUGGENHEIMCOM INC 1071 FIFTH AVENUE NEW YORK NY 10128 134113745 CEASED OPS DE N/A C 0.55000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0