2020-08-20T20:31:40-05:00 2019-12-31 430765316 RUBINBROWN LLP ONE NORTH BRENTWOOD SAINT LOUIS MO 63105 990 2019-01-01 431374479 ST LOUIS ART MUSEUM FOUNDATION STLO 3147210072 ONE FINE ARTS DRIVE ST LOUIS MO 631101380 CAROLYN J SCHMIDT DEPUTY DIRECTOR AND CONTROLLER 3147210072 2020-08-18 1 JAMES R RITTS P00362910 3142903300 71.14.215.226 2020-08-18 14:28:14 CD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 20D757FC92F0D2530603AB0F904D8D804D77B021 2019 2020-09-23 17:36:50Z CAROLYN J SCHMIDT ONE FINE ARTS DRIVE ST LOUIS MO 631101380 27676305 0 X N/A X 1985 MO TO SUPPORT THE SAINT LOUIS ART MUSEUM INCLUDING GENERAL SUPPORT, ART ACCESSIONS, AND EXPANSION. 3 2 0 2 0 0 4615555 6117233 2019473 1614089 15426595 8570771 95044 25800 22156667 16327893 8028871 7345331 0 0 0 0 0 0 0 185649 182613 8214520 7527944 13942147 8799949 210985015 236735086 10080494 405463 200904521 236329623 THE SOLE PURPOSE OF THE FOUNDATION IS TO SUPPORT THE SAINT LOUIS ART MUSEUM, INCLUDING BUT NOT LIMITED TO FUNDRAISING AND OTHER ACTIVITIES AND ASSISTING IN FINANCING EXPANSION AND RENOVATION OF ITS FACILITIES. 0 0 6002648 6002648 1315421 THE ST LOUIS ART MUSEUM FOUNDATION SUPPORTED THE MUSEUM IN THE AMOUNT OF $6,002,648 FOR PROGRAMS AND OTHER MUSEUM ACTIVITIES IN 2019. 1342683 1342683 THE ST LOUIS ART MUSEUM FOUNDATION SUPPORTED THE MUSEUM FOR COSTS RELATED TO ART ACCESSIONS IN THE AMOUNT OF $1,342,683 IN 2019. 7345331 1 1 0 1 0 0 0 0 0 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 X 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 3 2 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X CAROLYN J SCHMIDT 3147210072 ONE FINE ARTS DRIVE ST LOUIS MO 63110 BRENT BENJAMIN PRESIDENT & DIRECTOR OF MUSEUM 0.10 45.00 X X 0 518587 475901 JOHN R MUSGRAVE VICE PRESIDENT 0.10 5.00 X X 0 0 0 W RANDOLPH BAKER TREASURER 0.10 5.00 X X 0 0 0 DAVID A LINENBROKER SECRETARY 0.10 5.00 X 0 0 0 CAROLYN J SCHMIDT DEPUTY DIRECTOR & CONTROLLER 0.10 45.00 X 0 359894 184003 MARK MACINSKI ASSISTANT DIR - OPERATIONS 0.00 40.00 X 0 162168 138901 JEANETTE FAUSZ ASSISTANT DIR - EXHIBITS & COLLS 0.00 40.00 X 0 153683 248480 DEANNA GRIFFIN ASSISTANT DIR - CURATORIAL & PROGR 0.00 40.00 X 0 188732 9036 KIMBERLY SPARKMAN ACCOUNTING DIRECTOR 0.00 40.00 X 0 143106 49689 PATRICIA CROWE DIR - MARKETING AND COMMUNICATIONS 0.00 40.00 X 0 140649 173152 0 1666819 1279162 0 0 1 0 0 2318857 147750 3650626 598979 6117233 MEMBERSHIP EQUIVALENT VALUE 900099 1610124 1610124 MEMBERSHIP PROGRAM EVENTS 900099 3965 3965 1614089 5185899 5185899 14733284 11348412 3384872 3384872 3384872 25800 147750 0 25800 25800 16327893 1614089 0 8596571 7345331 7345331 577 577 45918 45918 117218 117218 18900 18900 7527944 7345331 182613 0 23926495 21530989 844873 402780 186023588 214592392 190059 208925 210985015 236735086 585 454 104000 9630000 0 449909 301009 10080494 405463 X 0 0 0 0 200904521 236329623 200904521 236329623 210985015 236735086 X 8799949 26701977 -76824 X 0 1 X 1 0 X 4003306 4602156 4730061 4615555 6117233 24068311 4003306 4602156 4730061 4615555 6117233 24068311 1448896 22619415 3367723 4322936 4689873 4708253 5185899 22274684 43656 120735 47225 95044 25800 332460 46675455 3633562 0.48460 0.48670 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: LITIGATION RECEIPTS - 2015 AMOUNT: $ 8,636. 2016 AMOUNT: $ 135. 2018 AMOUNT: $ 19. FRIENDS BOARD LUNCH REIMBURSEMENT - 2015 AMOUNT: $ 1,110. 2016 AMOUNT: $ 1,200. 2017 AMOUNT: $ 450. UMB QUARTERLY ACCRUED INTEREST ADJUSTMENT - 2015 AMOUNT: $ 9,310. SPECIAL EVENTS - 2015 AMOUNT: $ 24,600. 2016 AMOUNT: $ 119,400. 2017 AMOUNT: $ 46,775. 2018 AMOUNT: $ 95,025. 2019 AMOUNT: $ 25,800. SCHEDULE A, PART II, LINE 1: DOES NOT INCLUDE GRANTS OF $20,997,121, $5,000,000 AND $4,000,000 FOR 2015 DETERMINED TO BE UNUSUAL. ALSO, DOES NOT INCLUDE GRANTS OF $3,634,684, $1,000,000 AND $524,555 FOR 2017 DETERMINED TO BE UNUSUAL. $524,555 GRANT IN 2017 IS ADDITIONAL PAYMENT FOR THE UNUSUAL GRANT IN 2015. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 45917 0 0 45917 0 PART II-B, LINE 1: IN ORDER TO KEEP ABREAST OF CURRENT LEGISLATION, CONTRACTS ARE HELD WITH TWO FIRMS TO SUMMARIZE AND REPORT ON LEGISLATIVE MATTERS THAT RELATE TO OR MAY IMPACT THE FOUNDATION. WHEN DIRECTED, REPRESENTATIVES MAY ENGAGE IN DISCUSSIONS ABOUT THESE MATTERS WITH LAWMAKERS. 172328536 1044019 34945838 6932435 117218 201268740 191412482 790078 -13586199 6167428 120397 172328536 170544569 758194 26422310 6198023 114568 191412482 157095550 746633 18398159 5593042 102731 170544569 134324044 27091536 -135187 4092914 91929 157095550 0.34890 0.37260 0.27850 0 0 0 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 301009 301009 X 43029870 26701977 26701977 16327893 0 16327893 7604768 76824 76824 7527944 0 7527944 PART V, LINE 4: INCOME FROM ENDOWMENT FUNDS IS USED TO SUPPORT THE SAINT LOUIS ART MUSEUM'S OPERATIONS, ART PURCHASES AND OTHER PROGRAMS AND PURPOSES DESIGNATED BY THE DONORS. THE INVESTMENT COMMITTEE RECOMMENDS THE HARVEST RATE EACH YEAR. THE FINANCE COMMITTEE RECOMMENDS THE BUDGET EACH YEAR. THESE RECOMMENDATIONS ARE APPROVED BY THE GOVERNING BOARD. IN 2019, THE BOARD APPROVED THE USE OF THE ENDOWMENT HARVEST FOR ART PURCHASE AND OPERATIONS. PART X, LINE 2: STAND ALONE FINANCIAL STATEMENTS FOR THE FOUNDATION ARE NOT PREPARED. THE FOUNDATION IS PRESENTED AS A BLENDED COMPONENT UNIT OF THE SAINT LOUIS ART MUSEUM. THE FOUNDATION AND THE SAINT LOUIS ART MUSEUM PREPARE AND PRESENT STATEMENTS IN ACCORDANCE WITH GOVERNMENTAL ACCOUNTING STANDARDS AS REQUIRED BY THE MUSEUM, THEREFORE, NO FIN 48 FOOTNOTE IS REQUIRED FOR THE FOUNDATION. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNCOLLECTIBLE PLEDGES INCLUDED IN BAD DEBT EXPENSE 76,824. GALA 173550 147750 25800 173550 147750 25800 25800 1 SAINT LOUIS ART MUSEUM ONE FINE ARTS DRIVE ST LOUIS MO 631101380 431056957 7345331 PAYMENT TO SUPPORT THE PROGRAMS AND ACTIVITIES OF THE SAINT LOUIS ART MUSEUM. 1 PART I, LINE 2: ALL FUNDS WERE PAID TO THE SOLE MEMBER OF THE ORGANIZATION, THE SAINT LOUIS ART MUSEUM, IN SUPPORT OF ITS OPERATIONS. 0 0 0 0 0 0 0 0 0 BRENT BENJAMIN PRESIDENT & DIRECTOR OF MUSEUM 0 512034 0 0 0 6553 0 460369 0 15532 0 994488 0 0 CAROLYN J SCHMIDT DEPUTY DIRECTOR & CONTROLLER 0 357297 0 0 0 2597 0 173004 0 10999 0 543897 0 0 MARK MACINSKI ASSISTANT DIR - OPERATIONS 0 159950 0 0 0 2218 0 133530 0 5371 0 301069 0 0 JEANETTE FAUSZ ASSISTANT DIR - EXHIBITS & COLLS 0 151466 0 0 0 2217 0 238650 0 9830 0 402163 0 0 DEANNA GRIFFIN ASSISTANT DIR - CURATORIAL & PROGR 0 186797 0 0 0 1935 0 0 0 9036 0 197768 0 0 KIMBERLY SPARKMAN ACCOUNTING DIRECTOR 0 140938 0 0 0 2168 0 43826 0 5863 0 192795 0 0 PATRICIA CROWE DIR - MARKETING AND COMMUNICATIONS 0 138472 0 0 0 2177 0 167953 0 5199 0 313801 0 0 PART I, LINE 3 BRENT BENJAMIN IS PAID BY THE SUPPORTED ORGANIZATION, THE SAINT LOUIS ART MUSEUM. HIS COMPENSATION IS APPROVED BY THE BOARD OF COMMISSIONERS OF THE SAINT LOUIS ART MUSEUM. CHANGES ARE APPROVED BY THE BOARD EACH YEAR. THE OTHER EMPLOYEES ARE PAID BY THE SUPPORTED ORGANIZATION, THE SAINT LOUIS ART MUSEUM. SALARY SURVEYS, STUDIES AND INDEPENDENT COMPENSATION CONSULTANTS ARE PERIODICALLY USED TO DETERMINE COMPENSATION. PART II, COLUMN C: BRENT BENJAMIN'S OTHER DEFERRED COMPENSATION OF $460,369 CONSISTS OF A RETENTION PLAN, 403(B) PLAN AND THE ESTIMATED CHANGE IN THE ACTUARIAL VALUE FOR A DEFINED BENEFIT PENSION PLAN. THE BOARD APPROVED A RETENTION PLAN FOR THE DIRECTOR OF THE MUSEUM IN DECEMBER 2015. THE AGREEMENT WAS EFFECTIVE IN 2016 AND EXTENDS THROUGH 2020. THE 2019 CREDIT IS $150,000. ANNUAL AMOUNTS SPECIFIED AT THE INCEPTION OF THE RETENTION AGREEMENT ARE TO BE PAID TO THE PLAN. THE RETENTION IS 100% AT RISK WITH PAYMENTS CONTINGENT UPON MR. BENJAMIN REMAINING IN THE MUSEUM'S EMPLOYMENT THROUGH JANUARY 1, 2021. AN ADDITIONAL $15,000 WAS PAID INTO A SUPPLEMENTAL CASH BALANCE PLAN FOR THE DIRECTOR IN 2019. THE 403(B) CONTRIBUTION WAS $56,000. THE CHANGE IN PENSION VALUE OF $239,369 IS A RESULT OF AN ESTIMATE CALCULATED ON THE DIFFERENCE IN THE PRESENT VALUE OF AN ANNUITY PAYOUT BETWEEN THE END OF THE YEAR 2018 AND THE END OF THE YEAR IN 2019. RETIREMENT AND OTHER DEFERRED COMPENSATION FOR CAROLYN SCHMIDT OF $173,004 CONSISTS OF A RETENTION PAYMENT AND THE ESTIMATED CHANGE IN THE ACTUARIAL VALUE OF THE DEFINED PENSION BENEFIT IN THE AMOUNT OF $75,000 AND $98,004, RESPECTIVELY. ANNUAL CREDITS SPECIFIED AT THE INCEPTION OF THE RETENTION PLAN ARE PAID ANNUALLY. THE RETENTION PLAN IS 100% AT RISK WITH PAYMENT CONTINGENT UPON MS. SCHMIDT REMAINING IN THE MUSEUM'S EMPLOYMENT ON THE CREDIT DATES. RETIREMENT AND OTHER DEFERRED COMPENSATION FOR JEANETTE FAUZ, MARK MACINSKI, PATRICIA CROWE AND KIMBERLY SPARKMAN CONSIST OF THE ESTIMATED CHANGE IN THE ACTUARIAL VALUE OF THE DEFINED PENSION PLAN BENEFIT IN THE AMOUNTS OF $238,650, $133,530, $167,953, AND $43,826 RESPECTIVELY. PART II, COLUMN BIII: OTHER REPORTABLE COMPENSATION FOR BRENT BENJAMIN CONSISTS OF $6,553 FOR GROSS UP OF PREMIUM FOR THE MUSEUM'S LONG TERM DISABILITY PLAN. OTHER REPORTABLE COMPENSATION FOR CAROLYN SCHMIDT, JEANETTE FAUZ, MARK MACINSKI, DEANNA GRIFFIN AND KIMBERLY SPARKMAN CONSIST OF GROSS UP PREMIUM FOR THE MUSEUM'S LONG TERM DISABILITY PLAN AND WELLNESS ACTIVITY CREDITS RELATED TO SCREENINGS AS PART OF THE MUSEUM'S EMPLOYEE HEALTH PLAN. THE LONG TERM PLAN AND WELLNESS CREDITS ARE OFFERED AT THE SAME RATE AND AT THE SAME LEVELS TO ALL MUSEUM EMPLOYEES. X 85 598979 FMV ON DATE OF GIFT 0 1 1 PART I, COLUMN (B): THE ORGANIZATION REPORTS THE NUMBER OF CONTRIBUTIONS FOR SECURITIES. PART I, LINE 32B: THE FOUNDATION POLICY IS TO SELL STOCK GIFTS AS SOON AS POSSIBLE AFTER THE GIFT IS RECEIVED, TYPICALLY THE SAME DAY. BROKERAGE HOUSES ARE USED TO SELL STOCK GIFTS RECEIVED. STOCK GIFTS ARE VALUED USING THE AVERAGE OF HIGH AND LOW MARKET VALUE PRICE ON THE DAY OF THE GIFT. FORM 990, PART V, LINE 1A: ALL EXPENSES ARE PAID BY THE MUSEUM AND ALLOCATED TO THE FOUNDATION AS APPROPRIATE. THE MUSEUM FILES ALL FORMS 1099 REQUIRED. FORM 990, PART VI, SECTION A, LINE 6 THE SAINT LOUIS ART MUSEUM IS THE SOLE MEMBER OF THE ST. LOUIS ART MUSEUM FOUNDATION. FORM 990, PART VI, SECTION A, LINE 7A AS THE SOLE MEMBER OF THE ORGANIZATION, THE SAINT LOUIS ART MUSEUM'S BOARD OF COMMISSIONERS APPOINTS THE OFFICERS OF THE FOUNDATION. THE DIRECTOR OF THE ART MUSEUM, AND THE PRESIDENT AND TREASURER OF THE BOARD OF COMMISSIONERS OF THE ART MUSEUM ARE OFFICERS OF THE FOUNDATION'S BOARD. THEY SERVE THE FOUNDATION AS FOUNDATION PRESIDENT, VICE PRESIDENT AND TREASURER, RESPECTIVELY. THE CONTROLLER OF THE MUSEUM ALSO SERVES AS THE CONTROLLER OF THE FOUNDATION. THE SECRETARY OF THE FOUNDATION IS AN ATTORNEY IN RESIDENCE AT THE FIRM OF THE MUSEUM'S LEGAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE MUSEUM. THE FOUNDATION'S PRESIDENT AND CONTROLLER ATTEND THE AUDIT COMMITTEE MEETINGS. THE FOUNDATION BOARD HAS DELEGATED THE REVIEW OF THE 990 TO THIS COMMITTEE. THE BOARD OF DIRECTORS OF THE FOUNDATION RECEIVE THE REPORT OF THE AUDIT COMMITTEE'S REVIEW AND ACKNOWLEDGE ITS RECEIPT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE ART MUSEUM BOARD OF COMMISSIONERS, BOARD OF TRUSTEES, FRIEND'S BOARD, MUSEUM STAFF AND FOUNDATION TRUSTEES IS REQUIRED TO DISCLOSE ANNUALLY CONFLICTS OF INTEREST OR POTENTIAL CONFLICTS OF INTEREST HE OR SHE MAY HAVE WITH THE ART MUSEUM OR THE FOUNDATION. EACH FILING IS REVIEWED BY THE MUSEUM'S LEGAL COUNSEL, DIRECTOR, AND GOVERNANCE COMMITTEE. THE FILING IS REPORTED TO THE BOARD OF COMMISSIONERS OF THE MUSEUM FOR APPROVAL. THE FOUNDATION'S GOVERNING BOARD DELEGATED THIS RESPONSIBILITY TO THIS BODY AND IS APPRISED OF THE RESULTS OF THIS REVIEW AND ANY ACTIONS TAKEN. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION DOES NOT HAVE EMPLOYEES. THE PRESIDENT AND CONTROLLER OF THE FOUNDATION SERVE AS DIRECTOR AND CONTROLLER OF THE MUSEUM, RESPECTIVELY, AND ARE COMPENSATED BY THE MUSEUM. SEE PART VII - SECTION A. THE DIRECTOR'S COMPENSATION IS SET BY THE BOARD OF COMMISSIONERS OF THE MUSEUM. THE COMMISSION APPOINTS AN EXECUTIVE COMPENSATION COMMITTEE ANNUALLY TO REVIEW AND RECOMMEND COMPENSATION OF THE DIRECTOR. THE COMMITTEE REGULARLY ENGAGES AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IN DEVELOPING ITS RECOMMENDATION TO THE BOARD OF COMMISSIONERS. THE COMMISSION VOTES ON THE COMPENSATION OF THE DIRECTOR ANNUALLY. THE COMMITTEE ALSO REVIEWS THE SALARIES OF THE SENIOR MANAGEMENT. SALARY SURVEYS AND PERIODIC STUDIES ARE PERFORMED TO SET COMPENSATION FOR EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 IRS FORM 990 AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE MUSEUM'S WEBSITE AT WWW.SLAM.ORG AND UPON REQUEST IN THE CONTROLLER'S OFFICE AT THE SAINT LOUIS ART MUSEUM. FORM 990, PART XI, LINE 9: UNCOLLECTIBLE PLEDGES INCLUDED IN BAD DEBT EXPENSE -76,824. SAINT LOUIS ART MUSEUM ONE FINE ARTS DRIVE ST LOUIS MO 63110 431056957 ART MUSEUM MO 501(C)(3) LINE 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SAINT LOUIS ART MUSEUM B 7345331 CASH