2020-05-08T11:51:48-05:00 2019-06-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2018-07-01 020223322 Currier Museum of Art CURR 6036696144 150 Ash Street Manchester NH 03104 Alan Chong Director & CEO 6036696144 2020-04-21 1 Nicholas E Porto P01310283 2078792100 2020-04-21 208.105.168.164 2020-04-21 08:16:27 ED P 3452BD8595D9AC820B41F271E29CE8BF50AD3EDC 89AC92FCC1626BCC8DCEA1D9A8E0D80C82D36257 2018 2020-09-23 17:36:50Z Alan Chong 150 Ash Street Manchester NH 03104 14805446 0 X www.currier.org X 1919 NH Focused on art, centered in community, committed to inspire. 21 21 165 101 46404 0 2232855 1999409 1000650 626722 7783903 1926535 356621 264197 11374029 4816863 34458 10720 0 0 2765444 2874885 0 0 663302 5941453 5360202 8741355 8245807 2632674 -3428944 98719337 97253706 366536 422535 98352801 96831171 X The Museum provides the public with opportunities to learn about the past, appreciate and evaluate the present, and contemplate the future. Continued on Schedule OThe Currier Museum of Art serves all age groups including a culturally varied audience from New Hampshire and the region. The Museum aims to be a leader in developing innovative learning experiences that increase people's understanding, appreciation, and enjoyment of the arts and humanities. 0 0 4364151 0 439370 Collection: The Currier Museum of Art collects, preserves, researches, and presents significant works of art. The more than 13,900 objects in the collection are the basis of the Museum's mission and programming. The collection includes the Zimmerman House, a residence designed by Frank Lloyd Wright. Approximately 56,000 visitors experienced the collection in the fiscal year 2019, including 7,032 students. The curatorial staff researches and publishes the collection, while the education staff use the collection to inspire audiences. 1079435 10720 201923 Education and Community Programs: The Museum creates innovative programming that reaches a wide variety of audiences. These range from school tours, evening programs, and music and performance, to large-scale community events. The Museum runs programs targeted to special audiences, including families impacted by opioid addiction, Alzheimer's patients, and those affected by disabilities. Since 1939, the Currier Art Center has offered studio-based classes in the visual arts for children and adults, with an annual enrollment of approximately 1,600 students. The Art Center offers scholarships to students in need. 198873 0 20840 Exhibitions: The Currier Museum of Art hosts 6 to 7 special exhibitions each year which present a wide variety of art to the public. Some exhibitions are based on the scope of the permanent collection, but the museum regularly presents exhibitions that explore other fields. The Museum aims to balance historical and contemporary offerings, and European, American, and non-Western themes. The Museum presents a full range of educational and community programs that expand the content of the exhibitions. 929976 0 169112 Ancillary Services: in addition to exhibition galleries, The Museum facility includes two classrooms, a 180-seat auditorium, winter garden cafe, Museum shop, and entrance plaza. 929976 0 169112 6572435 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 1 66 0 1 165 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NH X Shelly Craig Director of Finance 6036696144 150 Ash Street Manchester NH 03104 Richard Botnik Trustee 1.00 X 0 0 0 Dwight D Churchill Trustee 1.00 X 0 0 0 Michael Costa Trustee 1.00 X 0 0 0 Andy Crews Trustee 1.00 X 0 0 0 Pamela Diamantis Trustee 1.00 X 0 0 0 M Christine Dwyer Trustee 1.00 X 0 0 0 Margaret Gaillard Trustee 1.00 X 0 0 0 Jean Gottesman Trustee 1.00 X 0 0 0 Bonnie Greiner Trustee 1.00 X 0 0 0 David A Jensen Trustee 1.00 X 0 0 0 Peter R Milnes Trustee 1.00 X 0 0 0 John H Morison III Trustee 1.00 X 0 0 0 Anthony Poore Trustee 1.00 X 0 0 0 Thomas Silvia Trustee 1.00 X 0 0 0 Nike Speltz Trustee 1.00 X 0 0 0 Jay Surdukowski Trustee 1.00 X 0 0 0 John F Swope Trustee (end 6/19) 1.00 X 0 0 0 Richard Thorner Trustee 1.00 X 0 0 0 William W Upton Trustee 1.00 X 0 0 0 Stephen Duprey President 3.00 X X 0 0 0 Harry Shepler President (end 12/18) 3.00 X X 0 0 0 Benjamin Kelley Vice President 1.00 X X 0 0 0 Elizabeth Hitchcock Treasurer 1.00 X X 0 0 0 Alan Chong Director/CEO 40.00 X 215237 0 3467 Shelly Craig Director of Finance 40.00 X 7692 0 0 Sheila McNeil Director of Finance (end 9/18) 40.00 X 60996 0 1829 283925 0 5296 1 0 1 0 0 258840 144170 1596399 1999409 Admissions 713990 275836 275836 Art Center Tuition 611710 235154 235154 Deaccessioned Art 611710 71377 71377 Public & Education 611710 41042 41042 Miscellaneous Revenue 611710 3313 3313 626722 824112 25391 798721 85585 80537 5048 5048 5048 10602227 9499804 1102423 1102423 1102423 109095 144170 83843 25252 25252 12150 3789 8361 8361 546146 320610 225536 204523 21013 4816863 831245 46404 1939805 10720 10720 289221 27326 186631 75264 2231201 1810836 34492 385873 32021 24874 3235 3912 142699 108213 13976 20510 179743 132290 14481 32972 14873 14873 41350 41350 233021 233021 12866 12866 191531 191531 162820 50791 100064 11965 111338 69785 18558 22995 606438 534655 45820 25963 23864 22684 6 1174 44095 29828 14267 568714 454972 56871 56871 83706 50727 32950 29 Art works purchased 2648586 2648586 Exhibitions/collections 474024 472943 1081 Public programs 118412 111871 6541 Dues & subscriptions 15564 11334 345 3885 9000 9000 8245807 6572435 1010070 663302 260939 232546 1507560 404792 278599 316558 17235 2026 105533 120668 162714 131821 31326378 16690362 15038502 14636016 58246731 57864315 23101524 23544964 98719337 97253706 253610 303009 112926 119526 366536 422535 X 2619015 17418339 43881568 27465117 51852218 51947715 98352801 96831171 98719337 97253706 -3428944 1907314 0 X X 0 1 X 1 0 X 2324314 1324044 1611983 2232855 1999409 9492605 2324314 1324044 1611983 2232855 1999409 9492605 1016061 8476544 588213 480564 933103 853072 803769 3658721 119471 204333 87792 80017 491613 13642939 5545951 0.62130 0.62100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 79138011 279605 3560570 5056316 219410 77702460 77379833 1147538 6355919 5524146 221133 79138011 71343991 212 9351114 3101350 214134 77379833 79583034 -3214970 4818004 206069 71343991 82363329 829906 3392257 217994 79583034 0.00920 0.66210 0.32870 0 0 96000 96000 27485361 13626761 13858600 3732517 3063601 668916 12500 12500 14636016 Real estate investment funds 2049035 F Alternative investments & hedge funds 21495929 F 23544964 X 6979935 1907314 488779 2396093 4583842 233021 233021 4816863 8501565 488779 488779 8012786 233021 233021 8245807 Part III, Line 1a: In conformity with industry practice, art purchased and donated is not recorded in the accompanying statements of financial position. The Museum's collection, including the Zimmerman House, represents one of its most valuable assets. As such, the Museum employs curators to manage stewardship of the collection, under the direction of the Executive Director and the Board of Trustees and in accordance with ethical standards of national organizations, including the American Alliance of Museums and Association of Art Museum Directors. Accessions and deaccessions are approved by the Museum's Board of Trustees and the proceeds from deaccession are used solely for the acquisition of collection items. Each item in the collection is cataloged, preserved, and cared for continuously. The value of the objects acquired by gift, for which the Museum can make a reasonable estimate, totaled $387,200 and $2,554,300 for the years ended June 30, 2019 and 2018, respectively. An estimate of the total value of objects acquired by gift in years prior to 1997 is not readily determinable. The total value of gifts received since 1997 is $14,778,745. The total value of objects purchased from December 31, 1997 through June 30, 2019 and 2018 was $31,301,446 and $28,652,860, respectively. For the years ended June 30, 2019 and 2018, the Museum sold deaccessioned collections and objects of art totaling $71,377 and $370,715, respectively. The selling price of these items approximated their fair value. Part III, Line 4: The Currier Museum of Art is New Hampshire's largest art museum, with world-class European and American art collections of over 13,281 objects that are at the core of its education, studio, and exhibition programs. The Currier Museum of Art received reaccreditation from the American Alliance of Museums in November of 2012. In its 99-year history, the Museum has built collections of both international stature and regional importance. Today, the Museum's major works by such European masters as Tiepolo, Constable, Monet, Picasso, and Matisse, among many others. The American art collections are the most comprehensive in northern New England, and include works by Homer, Hassam, O'Keeffe, Calder, and Gottlieb, as well as extensive holdings of sculpture, photography, glass, silver, pewter, and furniture. The caliber of the collections matches that of many major metropolitan museums, and objects are frequently loaned to museums around the world. The Currier has a long-standing commitment to collect the best art made in New Hampshire in order to reflect the region's vital cultural traditions. Part V, Line 4: The endowment funds are used for Museum operations, art acquisition, conservation, library book purchases, 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 accounting principles generally accepted in the United States of America, 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 will be recorded in income tax expense. Part XI, Line 2d - Other Adjustments: Rental expenses 80,537. Fundraising event expenses 83,843. Gaming expenses 3,789. Museum shop cost of goods sold 320,610. Part XII, Line 2d - Other Adjustments: Rental expenses 80,537. Fundraising event expenses 83,843. Gaming expenses 3,789. Museum shop cost of goods sold 320,610. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 5965000 0 0 0 0 0 0 5965000 0 5965000 0 0 1 1 0 0 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. Gala Dinner 253265 144170 109095 0 2947 6513 29822 2100 42461 253265 144170 109095 2947 6513 29822 2100 42461 83843 25252 1 Scholarships provided to underprivileged students to attend art classes or camps. 46 10720 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 215237 0 0 0 0 0 0 0 3467 0 218704 0 0 0 X 15 0 2 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 B, line 11b The Form 990 was reviewed and approved by the Finance Committee, the Director/CEO, the Deputy Director and the Director of Finance. The full board receives a copy of the Form 990 prior to filing. Form 990, Part VI, Section B, line 12c The Currier Museum of Art's conflict of interest policy requires every trustee and officer to disclose any known or potential conflict of interest to the Board President prior to any action, decision, or vote occurring with the potential conflict. The trustee or officer having the potential conflict is not permitted to participate when the determination is made or when a decision or vote is taken where a conflict of interest may exist. Annually, every trustee and officer is required to disclose any conflicts of interest, or attest to the fact that there are none, in writing. The signed statements are reviewed and maintained by the Director of Finance. No conflicts of interest between The Currier Museum of Art and any member of its Board of Officers existed during Fiscal Year 2019. Form 990, Part VI, Section B, line 15a Prior to any change in pay, the Board President reviews current and historical compensation for the Director/CEO. A copy of pertinent salary information found in the AAMD (American Association of Museum Directors) annual salary survey is also provided to The President. Form 990s of similar organizations are reviewed when determining key employee compensation. During an executive session of The Board of Trustees, the Director/CEO's performance is reviewed and annual compensation is determined. A signed letter from the Board President approving the Director/CEO's compensation is provided to human resources. 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