2021-09-21T13:33:40-05:00 2021-01-31 010523282 Berry Dunn McNeil & Parker LLC PO BOX 1100 Portland ME 041041100 990 2020-02-01 010378420 Portland Museum of Art PORT 2077756148 7 Congress Square Portland ME 04101 Cyrus Y Hagge President 2077756148 2021-09-14 1 Cyrus Hagge 999009999 Joseph R Byrne P01289281 2077752387 2021-09-14 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Mark HC Bessire 7 Congress Square Portland ME 04101 22627203 0 X www.portlandmuseum.org X 1882 ME Museum/Educational 41 41 123 233 -95 0 7341928 11194861 1486291 278479 4688843 -1336432 74997 295520 13592059 10432428 0 200000 0 0 4233007 4772492 0 0 1373795 3758931 3071956 7991938 8044448 5600121 2387980 68618270 75826769 2637808 2629955 65980462 73196814 Art for All. The Portland Museum of Art seeks to create an inclusive space that champions open expression and makes art accessible to all. 0 0 1069117 91521 Educational Programs: Create outstanding educational programs and collection-based activities to inspire and enrich the lives of diverse audiences and serve as a vital cultural center for the city and region (26,902 participants in 2020). 4448582 200000 186958 Exhibitions and Collections: Originate outstanding exhibitions from PMA's permanent collection and through borrowed works of art. Present traveling exhibitions that support and extend PMA's mission. Preserve, document, and interpret over 18,000 objects in the collection and five architectural landmarks (41,395 visitors in 2020). 329700 Collection Items Purchased: 28 works of art were purchased for PMA's collection in 2020, providing new opportunities for visitors and the community to experience original work. 5847399 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 X 51 0 1 123 1 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 41 41 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 ME X X X Elena Henry 2077756148 7 Congress Square Portland ME 04101 Mark H C Bessire Director 40.00 0.00 X 347764 0 71575 Elena Henry Deputy Director & CFO 40.00 0.00 X 163147 0 28687 Elizabeth F Jones Deputy Dir. & Dir. Ext. Affairs 40.00 0.00 X 164592 0 8656 Jessica May Deputy Director & Chief Curator 40.00 0.00 X 119037 0 12601 Maia Crandall Human Resources Director 40.00 0.00 X 107160 0 10732 Cyrus Y Hagge President 10.00 0.00 X X 0 0 0 Eileen T Gillespie Vice President 10.00 0.00 X X 0 0 0 Amy H Woodhouse Chair 10.00 0.00 X X 0 0 0 Kenneth A Blaschke Treasurer 10.00 0.00 X X 0 0 0 Christina F Petra Secretary 10.00 0.00 X X 0 0 0 Katherine MB Berger Trustee 3.00 0.00 X 0 0 0 Nathan J Clark Trustee 3.00 0.00 X 0 0 0 Danielle M Conway Trustee 3.00 0.00 X 0 0 0 Lila Hunt Davies Trustee 3.00 0.00 X 0 0 0 Alexander D Fisher Trustee 3.00 0.00 X 0 0 0 Joseph R Foley Trustee 3.00 0.00 X 0 0 0 Robert R Gould Trustee 3.00 0.00 X 0 0 0 Jocelyn R Handy Trustee 3.00 0.00 X 0 0 0 Erik K Hayward Trustee 3.00 0.00 X 0 0 0 Sharyn M Howell Trustee 3.00 0.00 X 0 0 0 John F Isacke Trustee 3.00 0.00 X 0 0 0 Elizabeth A Jabar Trustee 3.00 0.00 X 0 0 0 Jeffrey D Kane Trustee 3.00 0.00 X 0 0 0 Nancy K Kaye Past Trustee 4.00 0.00 X 0 0 0 Susie Konkel Trustee 3.00 0.00 X 0 0 0 Bree A LaCasse Trustee 3.00 0.00 X 0 0 0 Judy Glickman Lauder Trustee 3.00 0.00 X 0 0 0 Leeann M Leahy Trustee 3.00 0.00 X 0 0 0 Andy Lilienthal Trustee 3.00 0.00 X 0 0 0 Elizabeth T McCandless Trustee 3.00 0.00 X 0 0 0 Karen L McDonald Trustee 3.00 0.00 X 0 0 0 Dimitri M Michaud Trustee 3.00 0.00 X 0 0 0 Marcia Minter Trustee 3.00 0.00 X 0 0 0 John P Moore Trustee 3.00 0.00 X 0 0 0 Rodney D Moore Trustee 3.00 0.00 X 0 0 0 Alexander E Porteous Trustee 3.00 0.00 X 0 0 0 Mika K Reynolds Trustee 3.00 0.00 X 0 0 0 Christopher N Robinson Trustee 3.00 0.00 X 0 0 0 Laurence H Rubinstein Past Trustee 3.00 0.00 X 0 0 0 William J Ryan Jr Trustee 3.00 0.00 X 0 0 0 James H Schwartz Past Trustee 3.00 0.00 X 0 0 0 Theresa Secord Trustee 3.00 0.00 X 0 0 0 Jack Soley Trustee 3.00 0.00 X 0 0 0 Stewart Strawbridge Trustee 3.00 0.00 X 0 0 0 Troy Trejo Trustee 3.00 0.00 X 0 0 0 Heather Veitch Trustee 3.00 0.00 X 0 0 0 Karen B Watson Trustee 3.00 0.00 X 0 0 0 Anna H Wells Trustee 3.00 0.00 X 0 0 0 William B Williamson Trustee 3.00 0.00 X 0 0 0 901700 0 132251 5 0 1 0 MPX 2301 Congress Street Portland ME 04102 Print advertising and Direct Mail 179367 1 617539 10577322 2041711 11194861 Admissions 713990 186958 186958 Program Revenues 713990 91521 91521 278479 323641 -95 323736 10215653 11875726 -1660073 -1660073 -1660073 168319 319049 -150730 -150730 Employee Retention Credit 900099 446250 446250 446250 10432428 278479 -95 -1040817 200000 200000 611174 125802 338603 146769 3415383 2530908 198614 685861 43697 27828 5280 10589 408921 319378 2283 87260 293317 204449 29456 59412 73272 600 72572 100 39949 39949 55433 55433 278483 222640 31692 24151 120651 103987 16664 94152 48790 23380 21982 190112 125575 10228 54309 300512 283744 2983 13785 39342 24488 2995 11859 10239 7594 1315 1330 505526 476496 4744 24286 124236 117854 3727 2655 Exhibition & Collection 533103 533103 Acquisition of Art 329700 329700 Fundraising 212783 212783 Education 164463 164463 8044448 5847399 823254 1373795 X 392429 2641263 4041411 1359315 1159218 3780507 708764 816189 125678 123118 392729 378311 36468651 16267608 20317105 20201043 6638013 15280040 33647128 29523414 1195795 1723569 68618270 75826769 787808 1607581 94984 1850000 150000 0 777390 2637808 2629955 X 22294280 24488269 43686182 48708545 65980462 73196814 68618270 75826769 X 2387980 4959583 -131211 X 0 1 X 1 0 X 10053638 7970377 8414240 7341928 11194861 44975044 10053638 7970377 8414240 7341928 11194861 44975044 11996323 32978721 166120 224357 268647 304287 323641 1287052 446250 446250 46708346 7399449 0.70610 0.73780 X Schedule A, Part II, Line 10, Explanation of Other Income: Employee Retention Credit - 2020 Amount: $ 446,250. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 42438486 2646157 3567718 2524673 46127688 37580222 3003330 3665288 1810354 42438486 38390638 3055251 -2157475 1708192 37580222 31933216 3205132 4972274 1719984 38390638 24744613 5881159 2822252 1514808 31933216 0.10046 0.84747 0.05207 0 0 8977735 8977735 26624704 15494197 11130507 866212 773411 92801 20201043 Investments in Limited Partnerships 807130 F Limited Liability and Other Closely Held Companies 28716284 F 29523414 CARES Act Funding 777390 777390 15658427 4959583 2800 319049 5281432 10376995 55433 55433 10432428 8310864 2800 319049 321849 7989015 55433 55433 8044448 Part III, Line 1a: The art collection is reflected at a nominal value. The cost of a collection item is recorded as a decrease in net assets when purchased. The proceeds from sales of collection items are recorded as increases in net assets with temporary donor restricted when sold. During 2021, the PMA adopted FASB Accounting Standards Update (ASU) No. 2019-03, Not-for- Profit Entities (Topic 958), which improves the definition of collections to align U.S. GAAP with the definition contained in the American Alliance of Museums Code of Ethics for Museums. The collection is managed according to a policy which adheres to the standards of the American Alliance of Museums. The policy delineates responsibilities in such matters as museum ethics, acquisitions, loans, care of collections, and deaccessioning. Objects held in the collection are carefully tracked and monitored. The PMA's deaccessioning policy allows for sale or trade of an object only when it is incompatible with the PMA's collecting mission and when clear and complete title to the work is confirmed. With the adoption of ASU No. 2019-03, the PMA's policy for the use of proceeds derived from deaccessioned collection items includes direct care of the existing collection as well as acquisition of new collection items. The PMA has adopted the following definition of "direct care": *Collection conservation expenses, including supplies, transportation expenses, other direct expenses, and labor. *Expenses related to cataloging, housing, and physical care of objects, including but not limited to registrar and preparatory labor expenses, supplies, expenses for storage facilities both on and off-campus, lighting, and proper monitoring of storage and exhibition environments (including dataloggers and appropriate software for tracking collection items), photographic documentation and the management of digital assets. *Framing, mounting expenses, as well as the physical production of pedestals and other supplies for proper presentation of objects, including labor costs. Exhibition spaces as well as the care of such spaces, which may include pest control, proper lighting, security, and temperature control. Part III, Line 4: The art collection includes more than 18,000 objects and represents significant holdings of American, European, and contemporary art, as well as iconic works from Maine--highlighting the rich artistic tradition of the state and its artists. The collection includes paintings, sculpture, prints, photographs, glass, ceramics, furniture, silver, artists' books and other media, and is highlighted by works by George Bellows, Max Beckmann, Katherine Bradford, David Moses Bridges, Marc Chagall, Frederic Church, Gustave Courbet, Stuart Davis, Edgar Degas, Lois Dodd, Leonardo Drew, David Driskell, Richard Estes, Jeremy Frey, Jeffrey Gibson, Nan Goldin, John Haberle, Marsden Hartley, Childe Hassam, Winslow Homer, Edward Hopper, Jean Auguste Dominique Ingres, Alex Katz, Rockwell Kent, Yasuo Kuniyoshi, Fitz Henry Lane, Claude Monet, Thomas Moran, Louise Nevelson, John Frederick Peto, William Pope.L, Pierre Auguste Renoir, Tim Rollins & K.O.S., John Singer Sargent, Theresa Secord, Kara Walker, Andrew Wyeth, N.C. Wyeth, Betty Woodman, and Marguerite Thompson Zorach. The PMA is accredited by the American Alliance of Museums and adheres to best practices in developing and managing these works of art in the public trust. Part V, Line 4: PMA's intended use of endowment funds is for general operations, education, maintenance of collection and buildings, acquisition of art for the collection, wages, and other related expenses. Part XI, Line 2d - Other Adjustments: PMA Store Expenses 319,049. Part XII, Line 2d - Other Adjustments: PMA Store Expenses 319,049. 1 Amon Carter Museum of American Art 3501 Camp Bowie Blvd Fort Worth TX 76107 751077979 501(c)(3) 100000 Distribution of exhibition implementation grant from the National Endowment for the Humanities' Public Programs Division for shared costs of the co-organized travelling exhibition Mythmakers: The Art of Winslow Homer and Frederic Remington Denver Art Museum 100 W 14th Ave Pkwy Denver CO 80204 846038240 501(c)(3) 100000 Distribution of exhibition implementation grant from the National Endowment for the Humanities' Public Programs Division for shared costs of the co-organized travelling exhibition Mythmakers: The Art of Winslow Homer and Frederic Remington 2 0 Part I, Line 2: On occasion, the Museum receives a grant as part of a collaboration of shared exhibitions with other museums. In these cases, the Museum pays out portions of any grant funds received to the other museums involved in these collaborative efforts. Where the other museums are also 501(c)(3) organizations, and the museums are collectively sharing in the costs associated the shared exhibitions, no further monitoring of funds is deemed necessary. X X 1 1 X X X X X X 1 0 0 0 0 0 0 0 0 Mark H C Bessire Director 347764 0 0 0 0 0 37800 0 33775 0 419339 0 0 0 Elena Henry Deputy Director & CFO 163147 0 0 0 0 0 4875 0 23812 0 191834 0 0 0 Elizabeth F Jones Deputy Dir. & Dir. Ext. Affairs 164592 0 0 0 0 0 3909 0 4747 0 173248 0 0 0 Part I, Line 1a PMA paid $2,385 for a membership fee and dues to Portland's Cumberland Club, for Mark H.C. Bessire, Director. The Cumberland Club is adjacent to the Portland Museum of Art, and membership allows the Director to host meetings for the purpose of conducting museum business. PMA paid travel expenses for a companion of Mark H.C. Bessire, Director. The amount paid by PMA was not treated as taxable compensation. These expenses were documented and approved by the President of the Board of Trustees as bona fide business expenses. Part I, Line 4a During 2020, Jessica May, Deputy Director and Chief Curator, received a severance payment in the amount of $13,024. X 29 0 X 22 541711 Stock Market Value X Estate Assets 1 1500000 Estimated Market Val 3 0 1 1 Part I, Line 32b: Contributions of securities are sold through PMA's investment brokers. All gifts of securities are sold as soon as administratively possible. Part I, Line 33: The art collection is reflected at a nominal value. The cost of a collection item is recorded as a decrease in net assets when purchased. The proceeds from sales of collection items are recorded as increases in net assets with temporary donor restricted when sold. During 2021, the PMA adopted FASB Accounting Standards Update (ASU) No. 2019-03, Not-for- Profit Entities (Topic 958), which improves the definition of collections to align U.S. GAAP with the definition contained in the American Alliance of Museums Code of Ethics for Museums. The collection is managed according to a policy which adheres to the standards of the American Alliance of Museums. The policy delineates responsibilities in such matters as museum ethics, acquisitions, loans, care of collections, and deaccessioning. Objects held in the collection are carefully tracked and monitored. The PMA's deaccessioning policy allows for sale or trade of an object only when it is incompatible with the PMA's collecting mission and when clear and complete title to the work is confirmed. With the adoption of ASU No. 2019-03, the PMA's policy for the use of proceeds derived from deaccessioned collection items includes direct care of the existing collection as well as acquisition of new collection items. The PMA has adopted the following definition of "direct care": *Collection conservation expenses, including supplies, transportation expenses, other direct expenses, and labor. *Expenses related to cataloging, housing, and physical care of objects, including but not limited to registrar and preparatory labor expenses, supplies, expenses for storage facilities both on and off-campus, lighting, and proper monitoring of storage and exhibition environments (including dataloggers and appropriate software for tracking collection items), photographic documentation and the management of digital assets. *Framing, mounting expenses, as well as the physical production of pedestals and other supplies for proper presentation of objects, including labor costs. Exhibition spaces as well as the care of such spaces, which may include pest control, proper lighting, security, and temperature control. Form 990, Schedule M, Part I, Column (b) 57 works of art have been accepted into the PMA collection and have not been assigned a value. In 2020, PMA received ownership of the contents of an individual's estate by court judgement. The estate included a house with all contents and furnishings, a collection of art and decorative objects in a variety of media, stock certificates, and bank accounts. The art and decorative objects are in the process of being evaluated to determine which pieces will be accepted into the collection and which pieces will be sold. All sales of art of these pieces will be sold through an auction house. The house is under contract and is being sold by a licensed realtor. The PMA estimates the value that will be received upon liquidation of the entire estate is $1,500,000. Form 990, Part V, line 3b The Organization is waiting on Schedule K-1s from investment partnerships in order to complete Form 990-T. The Organization will file Form 990-T once this information has been received. Form 990, Part VI, Section A, line 4 During the year, the Museum amended its bylaws. One such change was to the number of voting board members (changed to allow for no more than forty-five Trustees as opposed to forty). Additionally, Trustee term limits were amended to state that no Trustee shall be elected at an Annual Meeting to serve more than three consecutive normal four-year terms. Lastly, the bylaws were amended to reflect that the members of the Executive Committee shall consist of a maximum of 12 members, including the Chair of the Board, the President, and the Vice President (or the Board's First Vice President if there is more than one Vice President), the Treasurer, the Secretary, the chair of the Governance Committee, and such other Trustees who are appointed by the President and confirmed by the Board. Form 990, Part VI, Section B, line 11b The Form 990 is distributed to the full board of trustees with sufficient time for each trustee to review it. All board members are invited to a special meeting specifically for the purpose of review and discussion of the 990 and audited financial statements. Following this meeting, board members reply by email to indicate their approval of the 990 as presented. The 990 is then discussed at a meeting of the executive committee of the board of trustees, before the executive committee votes to accept it. Form 990, Part VI, Section B, line 12c Trustees are asked to fill out a Conflict of Interest form annually. The procedure is outlined in PMA's "Institutional Code of Ethics and Guidelines for Professional Practice" a board-approved policy that is reviewed and signed by each incoming Trustee. Per the policy, in the event a significant conflict of interest appears to be unavoidable, the Trustee shall seek the approval of the Board, or a duly appointed and authorized committee of the Board, prior to engaging in such action, and such approval, if given, shall result in there being no conflict with respect to the contemplated action. Form 990, Part VI, Section B, line 15 Per PMA's Bylaws, the executive committee is authorized to exercise the following specific powers and duties on behalf of the board of trustees: (a) To enter into employment with, and to terminate the employment of, the chief executive officer (the "Director"), to negotiate and enter into employment contracts with the Director subject to final approval by the board of trustees, to annually review the performance of the Director, to determine the Director's annual compensation adjustments and benefits adjustments, to resolve all disciplinary and other issues relating to the Director's employment; (b) To review annually the performance of any other key employees and to resolve all disciplinary and other issues relating to such employees when such tasks are specifically delegated to the executive committee by the board of trustees; The Executive Committee in 2017 developed a compensation plan and five year contract for the PMA Director. The employment contract began on March 1, 2017 and terminates on February 28, 2022. The compensation plan was developed by an ad hoc committee of the Executive Committee. The ad hoc committee was formed to develop a multi-year plan for approval by the full Executive Committee. The ad hoc committee contracted with Career Management Associates (CMA) to provide guidance as to an appropriate level of compensation. On January 13, 2017, CMA provided a report titled: "Non-Profit Executive Compensation Analysis Report." CMA's report included data compiled from the 990 forms of specific peer group organizations identified by the PMA's board, and also compiled 990 data from a broader set of peers who reported the same nonprofit classification. Using the report's guidelines, the ad hoc committee negotiated with the Director a new five-year contract that provides remuneration within the band of reasonable compensation for a similarly situated museum director. The Executive Committee approved the terms of the new employment agreement and it was accepted by the Director and signed by all parties on May 3, 2017. Form 990, Part VI, Section C, line 19 PMA's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. The PMA's audited financial statements are publicly posted on the PMA's website. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: Portland Museum of Art 7 Congress Square Portland, ME 04101 EIN: 01-0378420 Section 1.263(a)-3(n) Election: Portland Museum of Art is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Form 990, Part XI, line 9: Cumulative Effect Adjustment - Topic 606 Adoption -131,211. Davis Family Foundation 30 Forest Falls Drive Yarmouth ME 04096 010390443 To award grants ME 501(c)(3) Line 12b, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0