2025-08-26T16:13:56-05:00 2024-12-31 951777440 GREEN HASSON & JANKS LLP 700 S FLOWER STREET SUITE 3300 LOS ANGELES CA 90017 990 2024-01-01 954739699 PETERSEN AUTOMOTIVE MUSEUM FOUNDATION PETE 3239302277 6060 WILSHIRE BOULEVARD LOS ANGELES CA 90036 TERRY KARGES EXECUTIVE DIRECTOR 3239302277 2025-08-22 1 1 LIZBETH G NEVAREZ P01399868 3108731600 2025-08-22 2024 2025-03-06 01:10:19Z TERRY KARGES 6060 WILSHIRE BOULEVARD LOS ANGELES CA 90036 37158099 0 X WWW.PETERSEN.ORG X 1999 CA TO EXPLORE AND PRESENT THE HISTORY OF THE AUTOMOBILE AND ITS IMPACT ON GLOBAL LIFE AND CULTURE. 19 19 249 166 1037790 41583 9081909 10261937 8396980 10034947 1650698 1487832 5968022 6202072 25097609 27986788 3946 7325 0 0 11172848 13263476 0 0 1283480 14511778 14803185 25688572 28073986 -590963 -87198 220712649 228276277 54233132 53783217 166479517 174493060 TO EXPLORE AND PRESENT THE HISTORY OF THE AUTOMOBILE AND ITS IMPACT ON GLOBAL LIFE AND CULTURE. 0 0 13069311 7817467 EXHIBITS PROGRAMS PRESENT THE MUSEUM AND ITS COLLECTION TO THE GENERAL PUBLIC. THIS INCLUDES THE DEVELOPMENT, PRODUCTION, AND IMPLEMENTATION OF PERMANENT AND ROTATING EXHIBITS, AS WELL AS THE DISSEMINATION OF MUSEUM CONTENT THROUGH ONLINE CHANNELS. 7113264 3647550 COLLECTIONS AND CURATORIAL PROGRAMS PROVIDE FOR THE ACQUISITION AND PRESERVATION OF COLLECTION OBJECTS THAT ADVANCE THE MISSION OF THE MUSEUM. THESE PROGRAMS INCLUDE THE MAINTENANCE AND RESTORATION OF COLLECTION VEHICLES AND OTHER OBJECTS. THE MUSEUM ALSO ACQUIRES, PRESERVES, AND ARCHIVES TWO DIMENSIONAL OBJECTIONS (PRINTED MATTER, PHOTOGRAPHS, DIAGRAMS, ETC.), BOOKS AND FILMS RELATED TO THE AUTOMOTIVE WORLD. CURATORIAL STAFF CONDUCT RESEARCH AND PRODUCE WRITTEN CONTENT THAT INTERPRET THESE OBJECTS FOR THE PUBLIC AS WELL AS FOR SCHOLARS. 3299744 7325 55840 EDUCATIONAL PROGRAMS INCLUDE MUSEUM ENDEAVORS TO EXPOSE AND TEACH CHILDREN AND ADULTS ABOUT THE AUTOMOBILE AND ITS IMPACT ON THE WORLD AND CULTURE. SIGNIFICANT PROGRAMS INCLUDE TOURS FOR SCHOOL CHILDREN IN SUPPORT OF THEIR CURRICULA, HANDS-ON TRAINING ON AUTOMOTIVE REPAIR AND CUSTOMIZATION FOR TEENS, DISPLAYING VEHICLES IN PUBLIC AUTOMOTIVE SHOWS, AS WELL AS PROVIDING SPEAKERS, FILMS, AND OTHER EXPERIENCES FOR ADULTS AND CHILDREN. 23482319 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 1 0 0 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 114 0 1 249 1 1 1 0 0 0 0 1 1 0 0 0 1 0 0 0 X 19 19 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 CA X TOM TORII 3239646323 6060 WILSHIRE BOULEVARD LOS ANGELES CA 90036 TERRY KARGES EXECUTIVE DIRECTOR 40.00 0.00 X 537070 0 38881 MICHAEL BODELL CHIEF OPERATING OFFICER 40.00 0.00 X 395087 0 22567 TOM TORII CHIEF FINANCIAL OFFICER 40.00 0.00 X 215973 0 34377 BRYAN STEVENS EXHIBITS DIRECTOR 40.00 0.00 X 174116 0 14743 LUNA BONDESAN MARKETING DIRECTOR 40.00 0.00 X 174075 0 6194 TERESA SEQUEIRA FINANCE DIRECTOR 40.00 0.00 X 143629 0 7718 ANNA SONG CHIEF OF STAFF/INTERIM DIRECTOR ENGAGEMENT 40.00 0.00 X 140314 0 36497 ALPEREN GUMAN CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 137779 0 4643 RICHARD VARNER CHAIRMAN/DIRECTOR 8.00 0.00 X X 0 0 0 BRUCE MEYER VICE-CHAIR/DIRECTOR 4.00 0.00 X X 0 0 0 DAVID SYDORICK VICE-CHAIR/DIRECTOR 4.00 0.00 X X 0 0 0 WILLIAM H AHMANSON TREASURER/DIRECTOR 4.00 0.00 X X 0 0 0 RICHARD ROEDER SECRETARY/DIRECTOR 1.00 0.00 X X 0 0 0 CHIP CONNOR DIRECTOR 1.00 0.00 X 0 0 0 VIN DI BONA DIRECTOR 1.00 0.00 X 0 0 0 JUAN GONZALEZ DIRECTOR 1.00 0.00 X 0 0 0 MCKEEL HAGERTY DIRECTOR 1.00 0.00 X 0 0 0 DR SABRINA KAY DIRECTOR 1.00 0.00 X 0 0 0 MERLE MULLIN DIRECTOR 1.00 0.00 X 0 0 0 MARK MITCHELL DIRECTOR 1.00 0.00 X 0 0 0 CHARLES NEARBURG DIRECTOR 1.00 0.00 X 0 0 0 GREG PENSKE DIRECTOR 1.00 0.00 X 0 0 0 BOBBY RAHAL DIRECTOR 1.00 0.00 X 0 0 0 PHILLIP SAROFIM DIRECTOR 1.00 0.00 X 0 0 0 FRANZ VON HOLZHAUSEN DIRECTOR 1.00 0.00 X 0 0 0 WOLFGANG PORSCHE DIRECTOR 1.00 0.00 X 0 0 0 DUKE OF RICHMOND DIRECTOR 1.00 0.00 X 0 0 0 1918043 0 165620 17 0 1 0 FREDDIE GEORGE PRODUCTION GROUP 15362 GRAHAM STREET HUNTINGTON BEACH CA 92649 EXHIBIT DESIGN AND PRODUCTION 611298 SAMSON PRODUCTIONS LLC 9231 ARCHIBALD AVE RANCHO CUCAMONGA CA 91730 AUDIOVISUAL SERVICES 462147 TENCO SOLAR INC 700 N VALLEY ST SUITE C ANAHEIM CA 92801 SOLAR PANEL INSTALLATIONS 414467 SMART CLEANING COMPANY PO BOX 967 LYNWOOD CA 90262 JANITORIAL SERVICES 364899 THE SCENIC ROUTE 13516 DESMOND ST PACOIMA CA 91331 EXHIBIT DESIGN AND PRODUCTION 337587 17 1949466 2026459 6286012 2015030 10261937 MUSEUM ADMISSION FEES 900099 9781917 9781917 MEMBERSHIP EVENTS 900099 253030 253030 10034947 1638000 1638000 2132347 0 2132347 2132347 2132347 2652945 3427438 2653794 3576757 -849 -149319 -150168 -150168 1157100 2026459 1561305 -404205 -404205 2865365 1379455 1485910 1485910 PARKING FEES 812930 2902316 1037790 1864526 OTHER INCOME 900099 85704 85704 2988020 27986788 11520857 1037790 5166204 7100 7100 225 225 1243956 1056975 123186 63795 10040740 8531503 994309 514928 168290 142994 16665 8631 963419 818606 95405 49408 847071 719747 83883 43441 236723 49142 184911 2670 103204 103204 207578 207578 526016 136650 381940 7426 624798 550128 4723 69947 914581 723888 99160 91533 195688 94729 50379 50580 1704616 1257435 444765 2416 186424 96758 57046 32620 1321414 1222371 37743 61300 4934774 4786732 123368 24674 570980 560634 8648 1698 EXHIBIT COST 1559219 1514417 37738 7064 COLLECTION CARE 653109 650819 1999 291 CATERING 416253 213124 128269 74860 IN-KIND GOODS 137168 91338 45830 510640 257004 123268 130368 28073986 23482319 3308187 1283480 7612211 3759666 2591321 1419743 14308603 11159983 715976 702528 201427 279956 172018685 53612782 122540810 118405903 52571791 71624779 20170510 20923719 220712649 228276277 2348284 3277871 294674 279781 51590174 50225565 54233132 53783217 X 146300867 156776069 20178650 17716991 166479517 174493060 220712649 228276277 X -87198 6174065 1926676 X X 0 1 X 1 0 X 10237034 3924238 13035597 9081909 10261937 46540715 10237034 3924238 13035597 9081909 10261937 46540715 1646544 44894171 1295858 1260205 3705949 3614609 3770347 13646968 119409 119409 1097937 883270 2509353 3021944 2988020 10500524 70807616 37675170 0.63400 0.64550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 149319 18547406 X X 0 47520655 709515 6545644 180605 54595209 42022982 647844 6251194 1401365 47520655 49359241 586740 -6900221 1022778 42022982 47528188 65000 2238214 472161 49359241 41221580 997343 7766393 2457128 47528188 1.00000 0.00000 0.00000 0 0 49650000 49650000 102108914 35957795 66151119 20259771 17654987 2604784 118405903 VEHICLES & OBJECTS AVAILABLE FOR EXHIBIT 18547406 EMPLOYEE RETENTION CREDIT RECEIVABLE 947838 DEPOSITS 568488 OTHER ASSETS 859987 20923719 X PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, PERMANENT COLLECTION ITEMS PURCHASED BY OR DONATED TO THE FOUNDATION ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE FOUNDATION'S COLLECTION IS MADE UP OF VEHICLES, MOTORCYCLES AND OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER EDUCATIONAL PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. DEACCESSION PROCEEDS ARE REQUIRED BY FOUNDATION POLICY TO BE APPLIED TO THE ACQUISITION OF OTHER ITEMS FOR THE PERMANENT COLLECTION. THE FOUNDATION ALSO HAS ACCESS TO THE USE OF VEHICLES AND OBJECTS THAT ARE LOANED FROM VARIOUS INDIVIDUALS AND INSTITUTIONS FOR EXHIBIT PURPOSES. PART III, LINE 4: THE COLLECTION IS MADE UP OF RARE AND COLLECTIBLE VEHICLES FOR THE EDUCATION OF THE GENERAL PUBLIC ABOUT TO THE CULTURAL, SOCIAL, TECHNOLOGICAL AND ENVIRONMENTAL DEVELOPMENT AND EFFECTS OF THE AUTOMOBILE. PART V, LINE 4: THE INTENTION OF THE ENDOWMENT IS THAT THE PRINCIPAL BE PRESERVED, AND INFLATION PROTECTED, TO PROVIDE FOR A CONTINUOUS FLOW OF ANNUAL DISTRIBUTIONS TO SUPPORT THE OPERATIONS OF THE FOUNDATION. PART X, LINE 2: PAM RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. DURING THE YEAR ENDED DECEMBER 31, 2024, PAM PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR WHICH MIGHT HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES VEHICLE SHIPPING, RETAIL, TRAVEL 323866 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 PROGRAM SERVICES MERCHANDISE, RETAIL 6249 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RETAIL 53935 0 0 0 0 0 0 384050 0 384050 0 0 0 0 0 0 ANNUAL GALA 2435859 1570759 865100 625136 225341 103956 130381 PEBBLE BEACH FUNDRAISER 605200 393200 212000 102255 50075 195234 1 142500 62500 80000 52328 76599 3183559 2026459 1157100 727391 275416 351518 206980 1561305 -404205 1 PART I, LINE 2: THE SOLE GRANTEE WILL PROVIDE FINANCIAL REPORTS AND PROGRAM REPORTS TO SUBSTANTIATE THE IMPACT OF THE GRANT. X X X X 0 0 0 0 0 0 0 1 0 TERRY KARGES EXECUTIVE DIRECTOR 358535 0 175000 0 3535 0 12075 0 26806 0 575951 0 0 0 MICHAEL BODELL CHIEF OPERATING OFFICER 245087 0 150000 0 0 0 10051 0 12516 0 417654 0 0 0 TOM TORII CHIEF FINANCIAL OFFICER 199013 0 15000 0 1960 0 1604 0 32773 0 250350 0 0 0 BRYAN STEVENS EXHIBITS DIRECTOR 152011 0 18425 0 3680 0 6056 0 8687 0 188859 0 0 0 LUNA BONDESAN MARKETING DIRECTOR 158793 0 15282 0 0 0 0 0 6194 0 180269 0 0 0 TERESA SEQUEIRA FINANCE DIRECTOR 143629 0 0 0 0 0 0 0 7718 0 151347 0 0 0 ANNA SONG CHIEF OF STAFF/INTERIM DIRECTOR ENGA 123902 0 16412 0 0 0 4919 0 31578 0 176811 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR'S BONUS IS APPROVED BY THE COMPENSATION COMMITTEE AND EXECUTIVE COMMITTEE AND COMMUNICATED TO THE CFO. SOME BONUSES FOR OTHER STAFF MEMBERS ARE PART OF A PRE-STRUCTURED COMPENSATION PACKAGE. DEPENDENT ON WHETHER THEY ACHIEVE CERTAIN GOALS AND CALCULATED ON A PRE-STRUCTURED FORMULA. OTHERS ARE APPROVED AT THE DISCRETION OF THE EXECUTIVE DIRECTOR FOR PARTICULAR MERIT OR REASON. A CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 000000000 2020-06-30 55906000 BUILDING RENOVATION 0 0 0 A 55906000 55906000 1 1 0 1 A 0 0 0 0 0.00030 0.00030 0 0 1 A 0 0 1 0 1 0 0 0 1 A 1 X 31 1353629 FMV X 9 364733 FMV X 4 11000 SALE PRICE X 3 82830 FMV X AUCTION & OTHER MICELLANEOUS 1 105500 FMV X SUPPLIES (VEHICLE CAR COVERS) 5 81338 FMV X SWAG ITEMS (TOTE BAGS, SIGNED PRINTS, ETC) 2 16000 FMV 0 1 1 PART I, COLUMN (B): NONCASH CONTRIBUTIONS ARE LISTED BY NUMBER OF CONTRIBUTORS. PART I, LINE 32B: THE ORGANIZATION AUTOMATICALLY SELLS ALL STOCK DONATIONS AS SOON AS IT IS RECEIVED. THE ORGANIZATION USES A 3RD PARTY TO SELL THESE STOCKS. SOME NON-ACCESSIONED VEHICLES ARE SOLD THROUGH THIRD PARTY PUBLIC AUCTION COMPANIES. PART I, LINE 33: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, PERMANENT COLLECTION ITEMS PURCHASED BY OR DONATED TO THE FOUNDATION ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE FOUNDATION'S COLLECTION IS MADE UP OF VEHICLES, MOTORCYCLES, AND OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER EDUCATIONAL PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. FORM 990, PART VI, SECTION A, LINE 2 TERRY KARGES, EXEC. DIRECTOR, AND RICHARD VARNER, BOARD CHAIRMAN, HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS FIRST REVIEWED BY THE CFO. IT IS THEN DISTRIBUTED AND REVIEWED BY ALL THE BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES THE BOARD OF DIRECTORS TO SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT NOTIFYING OF ANY CHANGES. THESE ARE MONITORED BY THE BOARD CHAIRMAN. TRANSACTIONS POTENTIALLY INVOLVING CONFLICTS ARE DISCLOSED TO BOARD AND INTERESTED PARTY IS RECUSED FROM PARTICIPATION IN THAT DECISION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR ALL OFFICERS IS DETERMINED BY THE BOARD BASED ON MARKET RATES, INDIVIDUAL PAY HISTORY, AND IT IS ALSO COMPARED TO OTHER ORGANIZATIONS OF SIMILAR EMPLOYEE SIZE AND/OR BUDGET SIZE. THIS IS REVIEWED ANNUALLY BY THE BOARD INDEPENDENTLY, WITHOUT THE PARTICIPATION OF INTERESTED PERSONS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: DEACCESSION OF COLLECTION ITEMS 2,156,732. BAD DEBT EXPENSE -230,056. FORM 990, PART XII, LINE 2C: NO PROCESES HAVE CHANGED FROM THE PRIOR YEAR. PETERSEN DRIVE LLC 6060 WILSHIRE BLVD LOS ANGELES CA 90036 331976551 APP THAT IGNITES PEOPLE'S KNOWLEDGE AND LOVE FOR CARS CA 0 0 PETERSEN AUTOMOTIVE MUSEUM FOUNDATION