2020-09-28T08:12:16-05:00 2020-01-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2019-02-01 010378420 Portland Museum of Art PORT 2077756148 7 Congress Square Portland ME 04101 Cyrus Y Hagge President 2077756148 2020-09-23 1 Joseph R Byrne P01289281 2077752387 2020-09-23 69.49.157.66 2020-09-23 15:53:58 ED P C4707E3AC495039012926C06CAF0FE7A77282DC5 8CB03294F4C8EEE0A7F1275F402B300CCFF6E31F 2019 2021-01-29 14:40:06Z Mark HC Bessire 7 Congress Square Portland ME 04101 80411503 0 X www.portlandmuseum.org X 1882 ME Museum/Educational 35 35 143 243 -544 0 8414240 7341928 2266569 1486291 1728091 4688843 44357 74997 12453257 13592059 0 0 0 0 4166257 4233007 0 0 1427927 3048555 3758931 7214812 7991938 5238445 5600121 61734930 68618270 486420 2637808 61248510 65980462 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 1109228 769378 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 (80,045 participants in 2019). 4278141 716913 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 (176,699 visitors in 2019). 380800 Collection Items Purchased: 6 works of art were purchased for PMA's collection in 2019, providing new opportunities for visitors and the community to experience original work. 5768169 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 X 41 0 1 143 1 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 35 35 0 0 0 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 Cyrus Y Hagge President 12.00 0.00 X X 0 0 0 Eileen T Gillespie Vice President 6.00 0.00 X X 0 0 0 Amy H Woodhouse Chair 8.00 0.00 X X 0 0 0 Kenneth A Blaschke Treasurer 4.00 0.00 X X 0 0 0 Christina F Petra Secretary 3.00 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 Melanie Stewart Cutler MD Past Trustee 4.00 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 Sharyn M Howell Trustee 3.00 0.00 X 0 0 0 John F Isacke Trustee 3.00 0.00 X 0 0 0 Jeffrey D Kane Past Trustee 3.00 0.00 X 0 0 0 Nancy K Kaye 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 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 Alexander E Porteous Trustee 3.00 0.00 X 0 0 0 Christopher N Robinson Trustee 3.00 0.00 X 0 0 0 Laurence H Rubinstein Trustee 3.00 0.00 X 0 0 0 William J Ryan Jr 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 Heather Veitch Trustee 3.00 0.00 X 0 0 0 John H Wallace Past Trustee 4.00 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 Williams Past Trustee 3.00 0.00 X 0 0 0 William B Williamson Trustee 3.00 0.00 X 0 0 0 Mark H C Bessire Director 40.00 0.00 X 325023 0 61744 Elena Henry Deputy Director & CFO 40.00 0.00 X 152718 0 23636 Elizabeth F Jones Deputy Dir. & Dir. External Affairs 40.00 0.00 X 129700 0 5222 Jessica May Deputy Director & Chief Curator 40.00 0.00 X 124192 0 12271 731633 0 102873 4 0 1 0 0 709611 6632317 1695619 7341928 Program Revenues 713990 769378 769378 Admissions 713990 716913 716913 1486291 257077 -544 257621 47210 9976 37234 37234 37234 70734811 66303045 4431766 4431766 4431766 544186 506423 37763 37763 13592059 1486291 -544 4764384 563121 112163 273045 177913 2994548 2262597 152619 579332 36223 24921 3797 7505 350471 273467 10725 66279 288644 211390 19268 57986 15789 730 15059 39146 39146 155386 155386 278107 237034 3529 37544 198506 161796 36710 134209 67892 31217 35100 201657 124800 13465 63392 370802 314520 40432 15850 133777 94438 14346 24993 51822 28230 15126 8466 312 312 522761 492741 4906 25114 150432 144286 3776 2370 Exhibition & Collection 604860 604860 Acquisition of Art 380800 380800 Fundraising 289373 289373 Education 231192 231192 7991938 5768169 795842 1427927 X 113515 392429 2109784 4041411 1686096 1159218 256505 708764 133083 125678 342035 392729 36076059 15758954 18691768 20317105 21955434 6638013 15326102 33647128 1120608 1195795 61734930 68618270 474215 787808 12205 1850000 486420 2637808 X 22695067 22294280 38553443 43686182 61248510 65980462 61734930 68618270 5600121 -868169 0 X 0 1 X 1 0 X 5081075 10053638 7970377 8414240 7341928 38861258 5081075 10053638 7970377 8414240 7341928 38861258 9268540 29592718 287063 166120 224357 268647 304287 1250474 40111732 8254910 0.73780 0.73560 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 37580222 3003330 3665288 1810354 42438486 38390638 3055251 -2157475 1708192 37580222 31933216 3205132 4972274 1719984 38390638 24744613 5881159 2822252 1514808 31933216 27629060 485520 -1435611 1934356 24744613 0.07990 0.88730 0.03280 0 0 8967720 8967720 26280245 15015189 11265056 828094 743765 84329 20317105 Investments in Limited Partnerships 261430 F Limited Liability and Other Closely Held Companies 33385698 F 33647128 13050193 -868169 12500 506423 -349246 13399439 155386 37234 192620 13592059 8318241 12500 506423 518923 7799318 155386 37234 192620 7991938 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 when sold. 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. Proceeds from the sale of an object may only be applied toward collection acquisitions. 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 506,423. Part XI, Line 4b - Other Adjustments: Net Rental Income 37,234. Part XII, Line 2d - Other Adjustments: PMA Store Expenses 506,423. Part XII, Line 4b - Other Adjustments: Net Rental Income 37,234. X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 Mark H C Bessire Director 325023 0 0 0 0 0 37800 0 23944 0 386767 0 0 0 Elena Henry Deputy Director & CFO 152718 0 0 0 0 0 4875 0 18761 0 176354 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. X 49 0 X 25 1695619 Stock Market Value X Jewelry Collection 1 0 4 0 1 1 Part I, Column (b): Lines 1 and 25: 47 works of art have been accepted into the PMA collection and have not been assigned a value. Two works of art that were received by bequest will be sold in 2020 per the donor's instructions. A jewelry collection, also received by bequest, will be evaluated in 2020 to determine which pieces will be accepted into the collection and which will be sold. All sales of art and/or jewelry will be through an auction house. 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 when sold. 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. Proceeds from the sale of an object may only be applied toward collection acquisitions. 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 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, all board members are invited by email to ask questions and to provide feedback on the 990 to members of the Audit Committee. 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). 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