2021-11-10T14:21:38-06:00 2020-12-31 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2020-01-01 133585408 MUSEUM OF ARTS AND DESIGN MUSE 2122997777 2 COLUMBUS CIRCLE NEW YORK NY 100191800 DENISE LEWIS CFO 2122997777 2021-11-15 1 DENISE LEWIS XXX-XX-XXXX MICHAEL WALLACE P00881958 2126972299 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHELE COHEN 2 COLUMBUS CIRCLE NEW YORK NY 100191800 16212791 0 X WWW.MADMUSEUM.ORG X 1991 NY THE MUSEUM OF ARTS AND DESIGN COLLECTS, DISPLAYS, AND INTERPRETS OBJECTS THAT DOCUMENT CONTEMPORARY AND HISTORIC INNOVATION IN CRAFT, ART, AND DESIGN. IN ITS EXHIBITIONS AND EDUCATIONAL PROGRAMS, THE MUSEUM CELEBRATES THE CREATIVE PROCESS THROUGH WHICH MATERIALS AND PROCESS ARE BROUGHT TO BEAR TO CREATE ARTISTIC WORKS THAT ENHANCE CONTEMPORARY LIFE. 21 21 118 25 0 0 19148284 12789347 769629 240729 575624 332585 2076972 529595 22570509 13892256 0 0 0 0 5814731 6045739 199210 12500 2734668 8040839 6742634 14054780 12800873 8515729 1091383 94967672 98387067 1041341 1130479 93926331 97256588 X TO COLLECT, DISPLAY AND INTERPRET OBJECTS IN CRAFT ART AND DESIGN. 0 0 5381373 236824 EXHIBITIONS EACH YEAR, THE MUSEUM OF ARTS AND DESIGN PRESENTS A NUMBER OF GROUNDBREAKING EXHIBITIONS THAT SUPPORT ITS MISSION TO CHAMPION MAKERS ACROSS CREATIVE FIELDS. IN FY20, THE MUSEUM HAD DISTINCT EXHIBITIONS AT ITS HOME ON COLUMBUS CIRCLE, INCLUDING ANNA SUI (THROUGH FEBRUARY 23RD, 2020); BRIAN CLARK: THE ART OF LIGHT (SEPTEMBER 17TH THROUGH APRIL 25, 2021); BURKE PRIZE (THROUGH MARCH 15TH, 2020); BETH LIPMAN: COLLECTIVE ELEGY (SEPTEMBER 24TH THROUGH APRIL 3RD, 2022); 45 STORIES IN JEWELRY 1947- NOW (FEBRUARY 13TH THROUGH JUNE 12TH, 2022). IT SHOULD BE NOTED THAT THE MUSEUM WAS CLOSED FROM MARCH 13TH, 2020 THROUGH SEPTEMBER 17TH, 2020 DUE TO THE COVID-19 PANDEMIC. 3381881 362469 EDUCATION AND PROGRAMMING THE MUSEUM OF ARTS AND DESIGN'S EDUCATION PROGRAMS PROVIDE ENRICHMENT AND EXPOSURE TO THE ARTS FOR THOUSANDS OF K-12 STUDENTS ANNUALLY-WITH AN EMPHASIS ON REACHING UNDERSERVED YOUTH. THESE PROGRAMS TAKE PLACE THROUGHOUT THE GALLERIES AND MAD'S SIXTH-FLOOR EDUCATION CENTER, AS WELL AS IN OFFSITE SCHOOL CLASSROOMS, WHICH ALLOWS THE MUSEUM TO REACH WIDER AUDIENCES AND CATER TO A VARIETY OF STUDENTS WITH SPECIAL NEEDS. WHILE THE MECHANISMS AND/OR TARGET POPULATIONS OF THESE PROGRAMS DIFFER, THEY SHARE THE SAME OVERARCHING GOALS: TO BROADEN THE EXPERIENCE AND KNOWLEDGE OF NEW YORK CITY'S SCHOOL CHILDREN; MAKE LEARNING OPPORTUNITIES AVAILABLE TO THOSE WHO WOULD OTHERWISE NOT HAVE ACCESS; BUILD CRITICAL THINKING AND PROBLEM SOLVING SKILLS; AND CREATE AN ENVIRONMENT OF SUCCESS THAT NOT ONLY FOSTERS SELF-CONFIDENCE AND SELF-ESTEEM, BUT ALSO IMPACTS LIFELONG ACHIEVEMENT.DOCENT TOURS:FREE, WEEKLY PUBLIC TOURS LED BY MAD'S DYNAMIC GUIDES OF THE MUSEUM'S EXHIBITIONS AND PERMANENT COLLECTION, IN WHICH VISITORS LEARN ABOUT THE MATERIALS, PROCESSES, AND CONCEPTS THAT DRIVE CONTEMPORARY INNOVATION IN THE FIELDS OF ART, CRAFT, AND DESIGN.VERBAL DESCRIPTION AND SENSORY TOURS:HELD VIRTUALLY AND IN-PERSON, ARTIST-EDUCATORS LEAD A TOUR OF CURRENT EXHIBITIONS SPECIFICALLY DESIGNED FOR VISITORS WHO ARE BLIND OR HAVE LOW VISION. THROUGH VERBAL DESCRIPTION, CONVERSATION, AND SENSORY EXPERIENCES, VISITORS GAIN AN UNDERSTANDING OF THE MATERIALS, PROCESSES, AND CONCEPTS THAT DRIVE INNOVATION IN THE FIELDS OF ART, CRAFT, AND DESIGN.K-12 MADLAB:THE MUSEUM OF ARTS AND DESIGN OFFERS INQUIRY-DRIVEN, THEMATICALLY BASED ONLINE AND ON-SITE PROGRAMS FOR K-12 SCHOOL GROUPS, SUMMER CAMPS, AND YOUTH ORGANIZATIONS. MADLAB IS THE MUSEUM'S FLAGSHIP ARTS-IN-EDUCATION PROGRAM DESIGNED TO ENGAGE K-12 STUDENTS ACROSS NEW YORK CITY IN THE ART OF MAKING; ENCOURAGE SOCIAL AND SKILL DEVELOPMENT VIA LEARNING WITH THE HANDS; AND HELP STUDENTS AND TEACHERS ACHIEVE THE REQUIREMENTS OF NYC'S BLUEPRINT FOR TEACHING AND LEARNING IN THE ARTS. THE PROGRAM'S CORE IS A 90-MINUTE TOUR/WORKSHOP TIED TO CLASSROOM SUBJECTS AND STRUCTURED AROUND CURRENT EXHIBITIONS. FOLLOWING THE CLOSURE OF THE MUSEUM ON MARCH 13TH, 2020 DUE TO THE COVID-19 PANDEMIC, MADLAB PROGRAMMING WAS HELD VIRTUALLY. ARTS ACCESS:AS A CORE PART OF MAD'S COMMITMENT TO BRING ARTS EDUCATION TO UNDERSERVED YOUTH, THE MUSEUM OFFERS MADLAB K-12 FREE OF CHARGE TO NYC'S TITLE I SCHOOLS THROUGH ARTS ACCESS. SINCE ITS LAUNCH IN 2010, THE PROGRAM HAS COME TO ACCOUNT FOR MORE THAN 40% OF ALL SCHOOLS SERVED.ARTS REACH:ARTS REACH PROVIDES ON-SITE STUDIO ART CLASSES TO STUDENTS SERVING SCHOOL SUSPENSIONS IN THE NEW YORK CITY DEPARTMENT OF EDUCATION'S ALTERNATE LEARNING CENTERS. THROUGH THIS PROGRAM, TEACHING ARTISTS LEAD STUDENTS IN ONE-HOUR SESSIONS TWICE A WEEK WHERE-THROUGH HANDS-ON ART MAKING ACTIVITIES-YOUTH ARE INTRODUCED TO MATERIALS AND PROCESSES FROM THE MUSEUM'S EXHIBITIONS, WITH THE GOAL OF FOSTERING VISUAL LITERACY, CRITICAL THINKING SKILLS, SELF-EXPRESSION, AND SELF-ESTEEM. FOLLOWING THE CLOSURE OF THE MUSEUM DUE TO THE COVID-19 PANDEMIC, ARTS REACH PROGRAMMING WAS PUT ON HOLD. PROFESSIONAL DEVELOPMENT FOR TEACHERS:LED BY ARTISTS, CURATORS, AND MUSEUM EDUCATORS, MAD'S PROFESSIONAL DEVELOPMENT WORKSHOPS ENABLE K-12 EDUCATORS TO DISCOVER CREATIVE WAYS OF INTERPRETING AND PRESENTING FUNDAMENTAL CONCEPTS IN ALL SUBJECT AREAS, USING ART, CRAFT, AND DESIGN AS A BRIDGE FOR COMPREHENSION. WORKSHOPS TAKE PLACE DURING NYC DEPARTMENT OF EDUCATION DISTRICT-WIDE PROFESSIONAL DEVELOPMENT DAYS, WITH ADDITIONAL PROFESSIONAL DEVELOPMENT OPPORTUNITIES ONLINE AND ONSITE THROUGHOUT THE YEAR. MAD ALSO OFFERS CUSTOM DESIGNED WORKSHOPS FOR INDIVIDUAL SCHOOLS OR DISTRICTS.TEEN ART SALONS:JUST FOR TEENS AGES 13-18, A FREE VIRTUAL STUDIO VISIT WITH AN MAD ARTIST-IN-RESIDENCE. TEEN ART SALONS TAKE PLACE ON WED AFTERNOONS AT 4 PM AND ARE ORGANIZED AND HOSTED ON ZOOM BY MAD'S ARTSLIFE TEEN INTERNS.TEEN COUNCIL:MAD'S TEEN COUNCIL IS COMPRISED OF ARTSLIFE AND RECESS INTENSIVE ALUMNI WHO SHARE A COMMON INTEREST IN ART, DESIGN, AND COMMUNITY ENGAGEMENT. THE TEEN COUNCIL PLANS EVENTS FOR TEENS, INCLUDING ARTSLAB WORKSHOPS.ARTSLIFE INTERNSHIPS:EACH SUMMER, ARTSLIFE ENABLES TEN RISING HIGH SCHOOL JUNIORS AND SENIORS TO PURSUE SEVEN-WEEK PAID INTERNSHIPS WITH THE MUSEUM,INTEGRATING THEM INTO A VARIETY OF OPERATIONS AND PROVIDING THEM WITH AN IMPORTANT PERSPECTIVE ON THE WORKING WORLD. PARTICIPANTS REFLECT THE VAST GEOGRAPHIC, CULTURAL AND SOCIOECONOMIC DIVERSITY OF THE CITY, AND ALSO COME INTO THE PROGRAM WITH LIMITED OR NO PREVIOUS EXPERIENCE WITH THE ARTS. THE PROGRAM PROVIDES THE STUDENTS WITH OPPORTUNITIES TO DEVELOP A RANGE OF KEY LEADERSHIP, COMMUNICATION AND SOCIAL SKILLS NEEDED FOR FUTURE SUCCESS. ARTSLIFE INTERNS ENGAGE IN A RANGE OF ACTIVITIES THAT FALL INTO FOUR CATEGORIES-MUSEUM STUDIES, LEADERSHIP, WORKSHOPS, AND FIELD TRIPS.RECESS:IS A WEEK-LONG INTENSIVE INTERNSHIP PROGRAM FOR TEENS 13 TO 18 TO LEARN ABOUT ART AND ART HISTORY WITH OTHER NYC TEENS, DEVELOP AND LEADPEER-TO-PEER TOURS AND LEARN HOW MUSEUMS WORK. THE WEEK-LONG INTERNSHIPS TAKE PLACE DURING NYC PUBLIC SCHOOLS' WINTER AND SPRING BREAKS.ARTIST STUDIOS:THE ARTIST STUDIOS HOST ARTISTS AND DESIGNERS DAILY AS THEY PRODUCE THEIR WORK IN A LIVE STUDIO ENVIRONMENT. VISITORS TO MAD MEET WORKING ARTISTS WHO OPENLY WELCOME QUESTIONS AND DIALOGUE, AND DISCUSS THEIR PROCESSES, MATERIALS, AND CONCEPTS WITH DIVERSE MEMBERS OF THE PUBLIC. THIS PROGRAM SERVES AS AN INNOVATIVE MODEL OF INTERACTIVITY AND ENGAGEMENT THAT BENEFITS LOCAL ARTISTS AND MUSEUM VISITORS THROUGH OBSERVATION, MAKING, AND DISCUSSION OF CREATIVE PROCESSES. THE MUSEUM SUPPORTS LIVING ARTISTS, PROVIDING NEEDED RESOURCES SUCH AS STIPENDS, STUDIO SPACE, PROFESSIONAL DEVELOPMENT OPPORTUNITIES, AND EXPOSURE TO ART PROFESSIONALS SUCH AS CURATORS, ACADEMICS AND PROGRAMMERS. FAMILY AND INTERGENERATIONAL PROGRAMS:STUDIO SUNDAY IS A PLAY-BASED EXPERIENCE FOR MULTI-GENERATIONAL VISITORS TO LEARN NEW SKILLS AND IDEAS TOGETHER IN A SEMI-STRUCTURED ART STUDIO AND GALLERY-BASED ENVIRONMENT. STUDIO SUNDAY IS A DROP-IN PROGRAM THAT TAKES PLACE THE FIRST SUNDAY OF EVERY MONTH FROM 10:00 AM TO 1:00 PM. EACH STUDIO SUNDAY IS UNIQUE, FREE WITH MUSEUM ADMISSION AND OPEN TO ANYONE AGES 5 AND UP. MADREADS IS A LITERACY-BASED PROGRAM FOR CHILDREN AND THEIR ADULT COMPANIONS THAT NURTURE A LOVE OF READING BY BRINGING BOOKS TO LIFE BY CONNECTING THEIR THEMES TO ARTWORKS. MAD READS IS A MIX OF INTERACTIVE STORY TIME, A GALLERY VISIT, AND VISUAL EXPLORATION THAT IS FUN FOR THE WHOLE FAMILY! MADREADS TAKES PLACE DURING STUDIO SUNDAY FROM 10:00 AM TO 11:00 AM AND IS FREE WITH MUSEUM ADMISSION. MAD ENGAGES VISITORS IN VARIOUS ART MAKING PROCESSES, TECHNIQUES, AND IDEAS. LED BY ARTISTS-IN-RESIDENCE, MADMAKES IS A DROP-IN, HANDS-ON SERIES WHERE VISITORS CAN TEST THEIR SKILLS AT ART MAKING AND CREATIVE PRODUCTION. MADMAKES PROVIDES AN OPPORTUNITY FOR VISITORS TO BETTER UNDERSTAND AND APPRECIATE THE WORKMANSHIP THAT GOES INTO CONTEMPORARY STUDIO PRACTICE TODAY.PUBLIC PROGRAMS:OPENING NEW POSSIBILITIES FOR AUDIENCES TO ENGAGE WITH ARTISTS, DESIGNERS, AND CULTURAL PRODUCERS, MAD ORGANIZES A BROAD SPECTRUM OF INNOVATIVE AND EXPLORATORY PROGRAMS THAT FOSTER FURTHER EXPANSION OF CREATIVE PRACTICES, INCLUDING ARTIST TALKS, SYMPOSIA, PERFORMANCE, FILM, AND ARTMAKING WORKSHOPS. 8763254 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 67 0 1 118 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X X DENISE LEWIS CFO 2122997777 2 COLUMBUS CIRCLE NEW YORK NY 10019 MICHELE COHEN CHAIR 5.00 X X 0 0 0 JEROME A CHAZEN CHAIRMAN EMERITUS 1.00 X X 0 0 0 LEWIS KRUGER CHAIRMAN EMERITUS 3.00 X X 0 0 0 BARBARA TOBER CHAIRMAN EMERITA 1.00 X X 0 0 0 JEFFREY MANOCHERIAN VICE CHAIR 1.00 X X 0 0 0 ANN KAPLAN SECRETARY 1.00 X X 0 0 0 MICHAEL DWECK TREASURER 2.00 X X 0 0 0 MARIAN C BURKE TRUSTEE 1.00 X 0 0 0 SIMONA CHAZEN TRUSTEE 1.00 X 0 0 0 MIKE DE PAOLA TRUSTEE 1.00 X 0 0 0 ERIC DOBKIN TRUSTEE 1.00 X 0 0 0 MARCIA DOCTER TRUSTEE 1.00 X 0 0 0 ABBY ELETZ TRUSTEE 1.00 X 0 0 0 LORIN GU TRUSTEE 1.00 X 0 0 0 ALEXANDER HANKIN TRUSTEE 1.00 X 0 0 0 MARSY MITTLEMANN TRUSTEE 1.00 X 0 0 0 LINDA PLATTUS TRUSTEE 1.00 X 0 0 0 KLARA SILVERSTEIN TRUSTEE 1.00 X 0 0 0 ANGELA SUN TRUSTEE 1.00 X 0 0 0 WILLIAM S TAUBMAN TRUSTEE 1.00 X 0 0 0 BARBARA WALDMAN TRUSTEE 1.00 X 0 0 0 CHRISTOPHER J SCOATES EXECUTIVE DIRECTOR (TO 8/2020) 35.00 X 422791 0 7949 TERRY SKODA INTERIM EXEC DIRECTOR (AS OF 8/2020) 35.00 X 227620 0 13990 DENISE LEWIS CHIEF FINANCIAL OFFICER 35.00 X 172677 0 20160 ELISSA AUTHER CHIEF CURATOR 35.00 X 168337 0 16820 WENDI PARSON CHIEF MARKETING OFFICER 35.00 X 148026 0 15578 ELIZABETH CONLAN ASSISTANT VP OF DEVELOPMENT 35.00 X 141195 0 16228 HENDRIK GERRITS DIRECTOR OF EXHIBITIONS & OPERATIONS 35.00 X 128266 0 17291 STEPHANIE LANG DIRECTOR OF SPECIAL EVENTS 35.00 X 118462 0 5575 CHRISTIAN LARSEN CURATOR AT LARGE 35.00 X 112661 0 7857 1640035 0 121448 13 0 1 0 G4S SECURE SOLUTIONS (USA) INC PO BOX 277469 ATLANTA GA 30384 SECURITY 649502 THE LAKESIDE COLLABORATIVE 115 WOOSTER STREET 5F NEW YORK NY 10012 STORE RETAIL BRANDING 201452 GODREY DADICH PARTNERS LLC 140 NEW MONTGOMERY STREET SAN FRANCISCO CA 94105 MARKETING 187500 3 355572 926011 1316285 10191479 158216 12789347 MUSEUM ADMISSION FEES 713990 236824 236824 LECTURES AND WORKSHOPS 900099 3905 3905 240729 334596 334596 41 41 120538 0 120538 120538 120538 1846564 1848575 -2011 -2011 -2011 70202 926011 70202 0 760322 401758 358564 358564 OTHER REVENUE 900099 50452 50452 50452 13892256 599293 0 503616 1050344 607652 97904 344788 4158697 2676208 516936 965553 38703 23072 4537 11094 435109 281769 50094 103246 362886 229161 42750 90975 13345 13345 63042 63042 12500 12500 6796 6796 839373 446229 262212 130932 575880 2684 5934 567262 244985 126978 45438 72569 1445184 1291455 60782 92947 53400 27039 6820 19541 2143923 1884758 87865 171300 159891 140526 6593 12772 EQUIPMENT AND MAINTENAN 281377 247297 11604 22476 SHIPPING AND CRATING 246438 216591 10162 19685 INSTALLATION AND DESIGN 214783 209174 5609 PRINTING 123216 111304 686 11226 331001 241357 3842 85802 12800873 8763254 1302951 2734668 2537494 1021306 5653336 3024089 2645764 2274168 254082 169718 449043 455035 286488 286550 94411000 30583037 65548997 63827963 17509554 27245324 82914 82914 94967672 98387067 885545 1035577 105640 31117 50156 63785 1041341 1130479 X 68083915 64522787 25842416 32733801 93926331 97256588 94967672 98387067 X 1091383 2338874 -100000 0 X 0 1 X 1 0 X 7347935 6328195 8612177 19148284 12789347 54225938 7347935 6328195 8612177 19148284 12789347 54225938 22770561 31455377 1196512 1142446 1081773 1159781 455175 5035687 14623 13232 11041 40148 50452 129496 59391121 8979501 0.52960 0.50110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11585787 11585787 729289 182322 0 0 753900 790181 794057 729289 3067427 4601141 3750 11250 15000 188475 197545 198514 182322 766856 1150284 X X X X 0 17609744 8587243 2661310 1038200 27820097 12988004 2286594 2948646 613500 17609744 14087703 400000 -924699 575000 12988004 12450794 1100 2310809 675000 14087703 11899279 112000 1014515 575000 12450794 0.04170 0.76140 0.19690 0 0 8510400 8510400 9229600 2884250 6345350 71218791 22577787 48641004 5452209 5121000 331209 63827963 DEFERRED RENT LIABILITY 63785 63785 16309334 2338874 85000 2423874 13885460 6796 6796 13892256 12822045 85000 85000 12737045 6796 57032 63828 12800873 PART III, LINE 4: THE MUSEUM MAINTAINS A COLLECTION OF WORKS OF CONTEMPORARY ART OBJECTS. A DESCRIPTION OF THE CONTENTS OF THE PERMANENT COLLECTION IS MAINTAINED BY THE REGISTRAR. THE MUSEUM HAS INSURANCE COVERAGE FOR ITEMS ON ITS PREMISES, IN STORAGE, IN TRANSIT AND ON LOAN AT OTHER LOCATIONS. THE VALUE OF THE COLLECTION, WHICH WAS ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE ORGANIZATION'S INCEPTION, IS NOT REFLECTED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE EXPENSED IN THE YEAR OF ACQUISITION. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENT OF ACTIVITIES BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS. THE COLLECTION IS HELD FOR PUBLIC SERVICE RATHER THAN FINANCIAL GAIN, PROTECTED AND PRESERVED, AND SUBJECT TO AN ORGANIZATIONAL POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF SUCH ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. PART V, LINE 4: THE ENDOWMENT IS INTENDED TO SUPPORT THE MUSEUM'S EDUCATION PROGRAMS AND GENERAL OPERATIONS. PART XII, LINE 4B - OTHER ADJUSTMENTS: ART COLLECTION PURCHASES 57,032. MAD BALL 2020 575138 575138 70202 MAD ABOUT JEWELRY 2020 421075 350873 70202 996213 926011 70202 70202 70202 0 X X X X 1 0 0 0 0 0 0 0 0 CHRISTOPHER J SCOATES EXECUTIVE DIRECTOR (TO 8/2020) 312862 0 0 0 109929 0 5968 0 1981 0 430740 0 0 0 TERRY SKODA INTERIM EXEC DIRECTOR (AS OF 8/2020) 227620 0 0 0 0 0 0 0 13990 0 241610 0 0 0 DENISE LEWIS CHIEF FINANCIAL OFFICER 172677 0 0 0 0 0 2600 0 17560 0 192837 0 0 0 ELISSA AUTHER CHIEF CURATOR 168337 0 0 0 0 0 2627 0 14193 0 185157 0 0 0 WENDI PARSON CHIEF MARKETING OFFICER 148026 0 0 0 0 0 1159 0 14419 0 163604 0 0 0 ELIZABETH CONLAN ASSISTANT VP OF DEVELOPMENT 141195 0 0 0 0 0 0 0 16228 0 157423 0 0 0 PART I, LINE 4A CHRISTOPHER SCOATES - $109,929 SEVERANCE PER SEPARATION AGREEMENT X 15 122450 AUCTION PROCEEDS X 2 7557 FAIR MARKET VALUE X AUCTION ITEMS 13 28209 AUCTION PROCEEDS 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 JEROME A. CHAZEN, CHAIRMAN EMERITUS, AND SIMONA CHAZEN, TRUSTEE - FAMILY RELATIONSHIP. JEROME A. CHAZEN, CHAIRMAN EMERITUS, AND WILLAM S. TAUBMAN, TRUSTEE - BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 IN THE BY-LAWS ADOPTED DECEMBER 2020, THE FOLLOWING REVISIONS WERE MADE: A DEIA POLICY WAS CREATED, ROLES AND RESPONSIBILITIES OF HONORARY AND EX-OFFICIO TRUSTEES WERE DEFINED,AND ELECTRONIC COMMUNICATION WAS AUTHORIZED AS AN OFFICIAL MODE FOR COMMUNICATION. OFFICERS OF THE BOARD WILL NOW SERVE FOR THREE (3) YEARS AND THE CHAIR SHALL SERVE ON ALL STANDING AND AD HOC COMMITTEES. STANDING COMMITTEES WERE DESIGNATED AS THE EXECUTIVE COMMITTEE, AUDIT COMMITTEE, FINANCE COMMITTEE, COMMITTEE ON TRUSTEES AND COLLECTIONS COMMITTEE. THE EXECUTIVE COMMITTEE SHALL NOW CONSIST OF THE CHAIR, VICE-CHAIR, SECRETARY,AND TREASURER. ADDITIONAL EXECUTIVE COMMITTEE MEMBERS MUST BE TRUSTEES WHO SHALL BE NOMINATED BY THE COMMITTEE ON TRUSTEES AND APPROVED ANNUALLY BY A MAJORITY VOTE OF THE TRUSTEES. THERE SHALL BE A MINIMUM OF NINE TRUSTEES SERVING ON THE EXECUTIVE COMMITTEE, INCLUDING THE OFFICERS. THE POWER TO CREATE AD HOC COMMITTEES WAS INSTITUTED ALONG WITH SUB-COMMITTEES AND TASK FORCE COMMITTEES WITHOUT GIVING POWER TO EXERCISE ANY AUTHORITY. THE ROLE AND RESPONSIBILITY OF THE DIRECTOR IS DEFINED, AND HE/SHE IS TO BE AN EXOFFICIO MEMBER OF THE BOARD. A WHISTLEBLOWER POLICY WAS CREATED AND VOTING BY PROXY WAS APPROVED. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT WORKS WITH THE MUSEUM'S AUDIT FIRM TO PREPARE THE 990 TAX RETURN. ONCE THE AUDIT FIRM COMPLETES THE 990 IT IS GIVEN TO MANAGEMENT FOR REVIEW. BOTH THE CFO AND THE CONTROLLER REVIEW THE DOCUMENTS PREPARED BY THE AUDIT FIRM TO ENSURE IT IS ACCURATE AND CONSISTENT WITH THE MATERIAL PROVIDED DURING AUDIT. THE AUDIT COMMITTEE THEN REVIEWS THE DOCUMENT. A COPY OF THE 990 IS PROVIDED TO THE ENTIRE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE MUSEUM'S CONFLICT OF INTEREST POLICY IS CONTAINED WITHIN ITS CODE OF ETHICS POLICY. THIS POLICY APPLIES TO ALL EMPLOYEES AND TO BOARD MEMBERS. AT THE BOARD LEVEL THE POLICY IS PRESENTED AND DISTRIBUTED ANNUALLY. A SELF AUDIT TAKES PLACE AND ANY POTENTIAL CONFLICTS ARE DISCLOSED TO THE EXECUTIVE COMMITTEE OF THE BOARD. ALL EMPLOYEES ARE GIVEN AN EMPLOYEE MANUAL ON THEIR FIRST DAY OF EMPLOYMENT WHICH CONTAINS CERTAIN PROVISIONS OF THE CODE OF ETHICS. THE FULL CODE IS AVAILABLE ON THE MUSEUM INTRANET. ALL POTENTIAL CONFLICTS ARE REPORTED TO THE SENIOR MANAGEMENT OF THE MUSEUM AND DISCUSSED BY BOTH THE DIRECTOR AND THE CFO. WHILE MOST POTENTIAL CONFLICTS ARE STRAIGHTFORWARD, LEGAL COUNSEL IS SOUGHT WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 15A THE FINANCE COMMITTEE AND THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS OVERALL PAYROLL INFORMATION FOR THE MUSEUM AND PLANNED INCREASES. THE SALARY OF THE DIRECTOR IS SET BY CONTRACT BY THE EXECUTIVE COMMITTEE. WHEN SETTING THE CONTRACT SALARY, THE COMMITTEE RELIES ON DATA AVAILABLE FROM COMPARABLE INSTITUTIONS AND PUBLISHED IN THE 990S OF OTHER INSTITUTIONS. THE COMMITTEE ALSO CONSIDERS LONGEVITY AND ACCOMPLISHMENTS IN SETTING ALL OF THE TERMS OF THE AGREEMENT. THE SALARY IS SET BASED ON MARKET CONDITIONS, COMPARABLE SALARIES, AND STAFF SALARIES WITHIN THE MUSEUM. THE REMAINING STAFF SALARIES ARE SET BASED ON THE EVALUATION BY THE DIRECTOR AND THE CFO. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST 990, PART XI, LINE 8 NET ASSETS WITH DONOR RESTRICTIONS AS OF JANUARY 1, 2020 WERE RESTATED TO REMOVE A PLEDGE IN THE AMOUNT OF $100,000 THAT HAD BEEN ERRONEOUSLY RECORDED.