2021-04-29T15:35:08-05:00 2020-06-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2019-07-01 020223322 Currier Museum of Art CURR 6036696144 150 Ash Street Manchester NH 03104 Alan Chong Director & CEO 6036696144 2021-04-21 1 Nicholas E Porto P01310283 2078792100 2021-04-21 2019 2022-09-23 18:48:47Z Alan Chong 150 Ash Street Manchester NH 03104 51606770 0 X www.currier.org X 1919 NH Focused on art, centered in community, committed to inspire. 20 20 179 108 22226 0 1999409 1965201 626722 422344 1926535 6302091 264197 103388 4816863 8793024 10720 27020 0 0 2874885 3080914 0 0 573775 5360202 8492699 8245807 11600633 -3428944 -2807609 97253706 89065408 422535 903026 96831171 88162382 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 6669492 0 285335 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. 1649641 27020 131133 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. 303927 0 13534 Exhibitions. The museum normally presents six to seven special exhibitions each year, although this schedule was reduced in FY 2020 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. 1421231 0 109825 Ancillary services: In addition to the galleries, the museum facilities include classrooms, a 180-seat auditorium, a caf, a shop, and other spaces. 1421231 0 109825 10044291 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 1 0 1 1 0 0 1 0 0 0 0 1 68 0 1 179 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 20 20 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NH X Paula Senneville Accountant 6036696144 150 Ash Street Manchester NH 03104 Alan Chong Director/CEO 40.00 0.00 X 202948 0 14769 Karen Graham Deputy Director 40.00 0.00 X 103446 0 10448 Shelly Craig Director of Finance 40.00 0.00 X 89977 0 19994 Richard Botnik Trustee 1.00 0.00 X 0 0 0 Dwight D Churchill Trustee 1.00 0.00 X 0 0 0 Michael Costa Trustee 1.00 0.00 X 0 0 0 Andy Crews Trustee 1.00 0.00 X 0 0 0 Pamela Diamantis Trustee 1.00 0.00 X 0 0 0 M Christine Dwyer Trustee 1.00 0.00 X 0 0 0 Margaret Gaillard Trustee 1.00 0.00 X 0 0 0 Jean Gottesman Trustee 1.00 0.00 X 0 0 0 Bonnie Greiner Trustee 1.00 0.00 X 0 0 0 David A Jensen Trustee 1.00 0.00 X 0 0 0 Peter R Milnes Trustee 1.00 0.00 X 0 0 0 John H Morison III Trustee 1.00 0.00 X 0 0 0 Anthony Poore Trustee 1.00 0.00 X 0 0 0 Thomas Silvia Trustee 1.00 0.00 X 0 0 0 Nike Speltz Trustee (end 9/2019) 1.00 0.00 X 0 0 0 Jay Surdukowski Trustee 1.00 0.00 X 0 0 0 Richard Thorner Trustee 1.00 0.00 X 0 0 0 William W Upton Trustee 1.00 0.00 X 0 0 0 Stephen Duprey President 3.00 0.00 X X 0 0 0 Benjamin Kelley Vice President 1.00 0.00 X X 0 0 0 Elizabeth Hitchcock Treasurer 1.00 0.00 X X 0 0 0 396371 0 45211 2 0 1 0 Denron Plumbing & HVAC LLC 605 Front Street Manchester NH 03102 Boiler installation and repairs 197735 1 238883 19500 1706818 27212 1965201 Admissions 713990 202705 202705 Art Center Tuition 611710 183964 183964 Public & Education 611710 32858 32858 Deaccessioned Art 611710 1450 1450 Miscellaneous Revenue 611710 1367 1367 422344 769341 7076 762265 65628 87211 -21583 -21583 -21583 47964630 42431880 5532750 5532750 5532750 1250 8912 -7662 -7662 418376 285743 132633 117483 15150 8793024 539827 22226 6265770 27020 27020 327688 29492 209720 88476 2379368 1984020 89100 306248 47509 36057 5278 6174 135483 117907 14422 3154 190866 144373 19101 27392 531 531 34350 34350 222725 222725 20164 19794 185 185 159836 740 159096 175389 66069 86663 22657 109250 67109 19002 23139 494450 435934 36337 22179 19348 17465 7 1876 28169 20748 5033 2388 572338 457870 57234 57234 71683 48553 23100 30 Art works purchased 6074083 6074083 Exhibitions/collections 245452 242301 3151 Provision for bad debts 150000 150000 Public programs 96906 89419 7487 18025 15337 683 2005 11600633 10044291 982567 573775 232546 492636 404792 1275636 316558 21201 2026 1738 120668 99788 131821 129487 31639738 17245915 14636016 14393823 57864315 23658425 23544964 48992674 97253706 89065408 303009 47589 119526 267437 0 588000 422535 903026 X 17418339 16039463 79412832 72122919 96831171 88162382 97253706 89065408 -2807609 -5861180 0 X X 0 1 X 1 0 X 1324044 1611983 2232855 1999409 1965201 9133492 1324044 1611983 2232855 1999409 1965201 9133492 1092214 8041278 480564 933103 853072 803769 762265 3832773 204333 87792 80017 22226 394368 13360633 4948285 0.60190 0.62130 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 77702460 67003 506736 8036003 211893 70028303 79138011 279605 3560570 5056316 219410 77702460 77379833 1147538 6355919 5524146 221133 79138011 71343991 212 9351114 3101350 214134 77379833 79583034 -3214970 4818004 206069 71343991 0.01050 0.74190 0.24760 0 0 96000 96000 27485362 14043518 13441844 4045876 3202397 843479 12500 12500 14393823 Real asset funds 5917227 F Hedge funds 11369481 F Interest in Adage Capital Partners 12359920 F Interest in WTC CTF SMID CAP Research Equity Portfolio 7316173 F Interest in Oakmark International Equity 5390980 F Interest in State Street Real Asset Fund 6638893 F 48992674 Paycheck Protection Program Loan 588000 588000 X 3087077 -5861180 381866 -5479314 8566391 226633 226633 8793024 11755866 381866 381866 11374000 226633 226633 11600633 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, 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: Rental expenses 87,211. Fundraising event expenses 8,912. Museum shop cost of goods sold 285,743. Part XII, Line 2d - Other Adjustments: Rental expenses 87,211. Fundraising event expenses 8,912. Museum shop cost of goods sold 285,743. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 3350000 0 0 0 0 0 0 3350000 0 3350000 0 0 1 1 0 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. 1 Scholarships provided to underprivileged students to attend art classes or camps. 209 27020 0 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). X X X 0 0 0 0 0 0 0 0 0 Alan Chong Director/CEO 202948 0 0 0 0 0 0 0 14769 0 217717 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 6/30/2020 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 6/30/2020. Mrs. Greiner has been classified as an independent Trustee. 0 X 11 0 X 5 27212 Stock Exchange Price 3 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. 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 Accountant. 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 Inactive NH 0 0 Currier Museum of Art