2019-05-14T08:15:52-05:00 2018-06-30 420714325 RSM US LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2017-07-01 526000162 BALTIMORE MUSEUM OF ART BALT 4435731839 10 ART MUSEUM DRIVE BALTIMORE MD 21218 CHRISTINE DIETZE BONANNO COO 4435731839 2019-05-11 1 JULIA FLANNERY CPA P00928918 4102469300 66.98.98.9 2019-05-11 09:23:34 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 4EE6A31F760B3C5EA0809148B0E883CC4242B14C 2017 2019-02-21 02:37:17Z CHRISTOPHER BEDFORD 10 ART MUSEUM DRIVE BALTIMORE MD 21218 51304517 0 X WWW.ARTBMA.ORG X 1914 MD THE BALTIMORE MUSEUM OF ART CONNECTS ART TO BALTIMORE AND BALTIMORE TO THE WORLD, (SEE SCH. O) EMBODYING A COMMITMENT TO ARTISTIC EXCELLENCE AND SOCIAL EQUITY IN EVERY DECISION FROM ART PRESENTATION, INTERPRETATION, AND COLLECTING, TO THE COMPOSITION OF OUR BOARD OF TRUSTEES, STAFF, AND VOLUNTEERS - CREATING A MUSEUM WELCOMING TO ALL. 40 40 231 192 32713 -40694 13345953 18953135 1211124 499710 5180945 5807406 477351 10101652 20215373 35361903 0 0 0 0 8111825 8341346 0 0 1069408 9247930 14699762 17359755 23041108 2855618 12320795 118719224 137284466 8406774 5997782 110312450 131286684 X THE BALTIMORE MUSEUM OF ART CONNECTS ART TO BALTIMORE AND BALTIMORE TO THE WORLD, EMBODYING A COMMITMENT TO ARTISTIC EXCELLENCE AND SOCIAL EQUITY IN EVERY DECISION FROM ART PRESENTATION, INTERPRETATION, AND COLLECTING, TO THE COMPOSITION OF OUR BOARD OF TRUSTEES, STAFF, AND VOLUNTEERS - CREATING A MUSEUM WELCOMING TO ALL. 0 0 6836985 428194 COLLECTION CARE & EXHIBITIONSTHE BALTIMORE MUSEUM OF ART (BMA) CARES FOR AND INTERPRETS A COLLECTION OF OVER 95,000 WORKS OF ART, CAREFULLY MONITORING ITS STORAGE, PRESERVATION, DOCUMENTATION, AND EXHIBITION. IN FY18 THE BMA CONTINUED AN ACTIVE EXPANSION OF ITS EXHIBITIONS AND PROGRAMS GEARED TOWARDS INCREASING DIVERSITY, ACCESS AND INCLUSION WITH ITS AUDIENCE IN BALTIMORE, MARYLAND AND BEYOND. THE MUSEUM'S EXHIBITION OFFERINGS CENTERED ON THE ORGANIZATION AND EXECUTION OF THE MAJOR TRAVELING EXHIBITION "ODYSSEY: JACK WHITTEN SCULPTURE, 1963 2017", ENRICHED BY ADDITIONAL PRESENTATIONS SPANNING A BROAD RANGE OF CULTURES, MEDIA AND TIME PERIODS.CONTEMPORARY WING BLACK BOX: HANK WILLIS THOMAS & KARA WALKER JUNE 28, 2017 AUGUST 18, 2018 PAUL CHAN: 1ST LIGHT OCTOBER 18, 2017 JULY 15, 2018 NJIDEKA AKUNYILI CROSBY | COUNTERPARTS OCTOBER 25, 2017 MARCH 11, 2018 UNCOMMON LANGUAGE: GLENN LIGON OCTOBER 29, 2017 AUGUST 19, 2018 MARY REID KELLEY & PATRICK KELLEY: WE ARE GHOSTS APRIL 4, 2018 AUGUST 19, 2018 THALHEIMER/MAY GALLERIES ODYSSEY: JACK WHITTEN SCULPTURE, 1963 2017 APRIL 22, 2018 JULY 29, 2018EAST LOBBY TOMAS SARACENO: ENTANGLED ORBITS OCTOBER 1, 2017 FEBRUARY 24, 2019OUT OF ACTIONS GALLERY HEAD BACK & HIGH: SENGA NENGUDI, PERFORMANCE OBJECTS (1976 2015) DECEMBER 6, 2017 MAY 27, 2018 1939: EXHIBITING BLACK ART AT THE BMA JUNE 13, 2018 OCTOBER 28, 2018 INTERSECTIONS GALLERY INTERSECTIONS: TABLES & CHAIRS NOVEMBER 22, 2017 DECEMBER 2, 2018FOX COURT SPENCER FINCH: MOON DUST FEBRUARY 21, 2018 OCTOBER 14, 2024BERMAN TEXTILE GALLERY ANNET COUWENBERG: FROM DIGITAL TO DAMASK AUGUST 16, 2017 FEBRUARY 18, 2018 STEPHEN TOWNS: RUMINATION AND A RECKONING MARCH 7, 2018 SEPTEMBER 2, 2018AFRICAN FOCUS GALLERY BEYOND FLIGHT: BIRDS IN AFRICA DECEMBER 20, 2017 JUNE 17, 2018JACOBS GALLERIES TOMAS SARACENO: ENTANGLED ORBITS OCTOBER 1, 2017 - JULY 8, 2018 MELEKO MOKGOSI: ACTS OF RESISTANCE MAY 2, 2018 NOVEMBER 11, 2018BENESCH WORKS ON PAPER GALLERY SPIRAL PLAY: LOVING IN THE 80'S OCTOBER 18, 2017 APRIL 15, 2018CONE FOCUS CROSSING BORDERS: MEXICAN MODERNIST PRINTS NOVEMBER 19, 2017 MARCH 11, 2018 SACRED SPRING: VIENNA SECESSION POSTERS FROM THE COLLECTION OF LE ROY E. HOFFBERGER AND PAULA GATELY TILMAN MARCH 25, 2018 JULY 29, 2018JOSEPH EDUCATION CENTER COMMONS PHAAN HOWNG: THE SUCCESSION OF NATURE NOVEMBER 3, 2017 OCTOBER 7, 2018SPRING HOUSE ANN VERONICA JANSSENS: FOG STAR MAY 30, 2018 OCTOBER 31, 2018IN FY18, THE BMA ALSO HOSTED THREE EXHIBITIONS THAT ARE PRESENTED ANNUALLY AT THE MUSEUM: FOR YOUR INSPIRATION: 2018 BALTIMORE CITY PUBLIC SCHOOLS ART EXHIBITION MAY 9 14, 2018 ART IS FOR EVERYONE: 2018 BALTIMORE COUNTY PUBLIC SCHOOLS EXHIBITION MAY 17 21, 2018 SONDHEIM ARTSCAPE PRIZE: 2018 FINALISTS JUNE 20, 2018 AUGUST 5, 2018WITH THE EXCEPTION OF "ODYSSEY: JACK WHITTEN SCULPTURE 1963 2017" ALL OF THE EXHIBITIONS LISTED ABOVE WERE PRESENTED FREE TO THE PUBLIC. 10277733 OPERATIONSOPENED IN 1929 AS A SINGLE BUILDING ADJACENT TO THE CAMPUS OF THE JOHNS HOPKINS UNIVERSITY, THE BMA NOW COMPRISES 10 CONTIGUOUS BUILDINGS AND WINGS (210,000 SQ. FT.), ONE HISTORIC STRUCTURE, AND TWO OUTDOOR SCULPTURE GARDENS (3 ACRES). IN 2016, THE MUSEUM WORKED DILIGENTLY TO MAINTAIN A TIGHT BUILDING ENVELOPE TO PROTECT ITS PRICELESS COLLECTION. THE MECHANICAL AND ELECTRICAL SYSTEMS WHICH RECEIVED SIGNIFICANT UPGRADES DURING THE RECENT RENOVATIONS ARE NOW ACHIEVING IMPORTANT ECONOMIES IN ENERGY MANAGEMENT AND PROCUREMENT. THE BMA'S ENGINEERING STAFF FOLLOWED A DETAILED SCHEDULE OF PREVENTATIVE MAINTENANCE TO ENSURE THE LONGEVITY OF THESE SYSTEMS. SECURITY WAS ASSURED THROUGH A TRAINED SECURITY FORCE, UP-TO-DATE SECURITY POLICIES AND PROCEDURES, EFFECTIVE INTEGRATION OF ELECTRONIC SYSTEMS, AND CROSS-DEPARTMENTAL RESPONSES TO INCIDENTS INVOLVING VISITORS AND/OR ART WORKS. THE FACILITY WAS STAFFED ON A 24-HOUR BASIS, AND AN EMERGENCY CONTACT LIST WAS MAINTAINED. THE BMA HAS A FULLY OPERATIONAL FIRE DETECTION SYSTEM. THE BMA'S EMERGENCY PLAN IDENTIFIES APPROPRIATE RESPONSES TO PROBLEMS AND ASSIGNS AREAS OF RESPONSIBILITY TO SPECIFIC STAFF MEMBERS. FIRE AND EVACUATION PROCEDURES ARE CLEARLY OUTLINED AND REVIEWED WITH ALL STAFF. THE BMA IS EQUIPPED WITH AN EMERGENCY GENERATOR CAPABLE OF OPERATING CONTINUOUSLY FOR FIVE DAYS; EMERGENCY SUPPLIES ARE CENTRALLY LOCATED. 2944836 71516 EDUCATION & INTERPRETATIONEDUCATION AND PUBLIC PROGRAMS SERVED OVER 47,300 MEMBERS, VISITORS, STUDENTS, AND TEACHERS IN THE MUSEUM, AS WELL AS TEACHERS AND COMMUNITY RESIDENTS THROUGHOUT THE REGION. AMONG THE PROGRAMS THEY PARTICIPATED IN WERE FREE FAMILY SUNDAYS, CLOSE ENCOUNTERS STUDENT TOURS, OPEN HOURS PUBLIC PROGRAMS, DOCENT-LED GALLERY TALKS, BIG TABLE CONNECTIONS EVENTS, ARTIST TALKS, AND SCHOLARLY PANELS. VISITORS ALSO UTILIZED GALLERY RESOURCES SUCH AS SELF-GUIDED AUDIO TOURS, GALLERY GUIDES, AND GOMOBILE TOURS. OFFSITE ENGAGEMENT INCLUDED 2,504 PARTICIPANTS AT THE BMA OUTPOST AND ART-TO-GO ACTIVITIES DISTRIBUTED BY EMAIL TO 3,600 TEACHERS AROUND THE WORLD. THE ART AFTER HOURS AUDIENCE DEVELOPMENT INITIATIVE CONTINUED WITH EVENTS IN NOVEMBER, MARCH, AND JUNE ATTRACTING 1,830 VISITORS, MOST BETWEEN THE AGES OF 21 AND 45. THE BMA SERVED AS A RESOURCE FOR COLLEGE AND UNIVERSITY TEACHING AT INSTITUTIONS IN THE BALTIMORE-WASHINGTON METROPOLITAN AREA, WHERE THERE ARE 200,000 COLLEGE AND UNIVERSITY STUDENTS. MARKETING AND COMMUNICATIONS STAFF PROMOTED THESE BMA EXHIBITIONS, PUBLICATIONS, AND EDUCATIONAL PROGRAMS TO A WIDE AUDIENCE THROUGH THE BMA WEBSITE WWW.ARTBMA.ORG AS WELL AS PRINT, ELECTRONIC, AND SOCIAL MEDIA. 20059554 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 49 0 1 231 1 1 1 0 0 0 0 1 1 0 0 0 0 X 40 40 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X CHRISTINE DIETZE BONANNO 4435731838 10 ART MUSEUM DRIVE BALTIMORE MD 21218 CLAIR ZAMOISKI SEGAL CHAIR 1.00 X X 0 0 0 FREDERICK S KOONTZ IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 JAMES D THORNTON VICE CHAIR 1.00 X X 0 0 0 NANCY L DORMAN VICE-PRESIDENT 1.00 X X 0 0 0 AMY MEADOWS VICE-PRESIDENT 1.00 X X 0 0 0 DONALD J PETERS VICE-PRESIDENT 1.00 X X 0 0 0 SUSAN B KATZENBERG VICE-PRESIDENT/TREASURER 1.00 X X 0 0 0 ANN ALLSTON BOYCE SECRETARY 1.00 X X 0 0 0 VIRGINIA K ADAMS TRUSTEE 1.00 X 0 0 0 WILLIAM BACKSTROM TRUSTEE 1.00 X 0 0 0 HEIDI BERGHUIS TRUSTEE 1.00 X 0 0 0 DIANE CHO TRUSTEE 1.00 X 0 0 0 MAYA ROCKEYMOORE CUMMINGS TRUSTEE 1.00 X 0 0 0 ELLEN R DAME TRUSTEE 1.00 X 0 0 0 AMY ELIAS TRUSTEE 1.00 X 0 0 0 NUPUR PAREKH FLYNN TRUSTEE 1.00 X 0 0 0 JOHN A GILPIN TRUSTEE 1.00 X 0 0 0 MARTHA GLENN TRUSTEE 1.00 X 0 0 0 AMY GOULD TRUSTEE 1.00 X 0 0 0 F MACKEY HUGHES TRUSTEE 1.00 X 0 0 0 PATRICIA H JOSEPH TRUSTEE 1.00 X 0 0 0 BARBARA KATZ TRUSTEE 1.00 X 0 0 0 ROBYN BRENZA KRESS TRUSTEE 1.00 X 0 0 0 DANIEL LERARIS TRUSTEE 1.00 X 0 0 0 BROOKE LIERMAN TRUSTEE 1.00 X 0 0 0 DR JOHN MEYERHOFF TRUSTEE 1.00 X 0 0 0 DAVID H MILTON TRUSTEE 1.00 X 0 0 0 FIONA ONG TRUSTEE 1.00 X 0 0 0 RHONDA OVERBY TRUSTEE 1.00 X 0 0 0 ADAM PENDLETON TRUSTEE 1.00 X 0 0 0 SCOTT SCHELLE TRUSTEE 1.00 X 0 0 0 ALAN SCHWARTZ TRUSTEE 1.00 X 0 0 0 AMY SHERALD TRUSTEE 1.00 X 0 0 0 WILMA BULKIN SIEGEL TRUSTEE 1.00 X 0 0 0 JEAN SILBER TRUSTEE 1.00 X 0 0 0 WILLIAM TAYLOR IV TRUSTEE 1.00 X 0 0 0 MARK WAGNER TRUSTEE 1.00 X 0 0 0 DAVID W WALLACE TRUSTEE 1.00 X 0 0 0 DAVID WARNOCK TRUSTEE 1.00 X 0 0 0 LEANA S WEN TRUSTEE 1.00 X 0 0 0 CHRISTOPHER BEDFORD STAFF CHIEF EXECUTIVE OFFICER 40.00 X 382268 0 20010 CHRISTINE DIETZE BONANNO STAFF CHIEF OPERATING OFFICER 40.00 X 164116 0 32088 HEATHER MARCHESE CHIEF ADVANCE. OFFICER (BEG 2/26/18) 40.00 X 0 0 0 JUDITH GIBBS STAFF DEPUTY DIR. OF DEV. (THRU 4/30/18) 40.00 X 151300 0 21146 JAY FISHER STAFF DEPUTY DIR. OF CURATORIAL 40.00 X 136559 0 19071 RYAN DONAHUE STAFF CHIEF TECHNOLOGY OFFICER 40.00 X 112499 0 7105 946742 0 99420 5 0 1 0 THE WHITING-TURNER CONTRACTING COMPANY 300 EAST JOPPA RD BALTIMORE MD 21286 CONSTRUCTION CONTRACTOR 3619758 ARTEX INC 8712 JERICHO CITY DRIVE LANDOVER MD 20785 ART HANDLING 416013 MARYLAND MECHANICAL SYSTEMS 300 S HAVEN ST BALTIMORE MD 21224 CONSTRUCTION CONTRACTOR 381200 MARSHALL CRAFT ASSOCIATES INC 2031 CLIPPER PARK RD 105 BALTIMORE MD 21211 ARCHITECTS 379467 4 498448 552670 7048099 10853918 1978353 18953135 PROGRAM REVENUE 900099 409741 409741 EDUCATION & GROUP TOUR 900099 71516 71516 TRAVELING EXHIBITS 900099 18453 18453 499710 2527755 -22664 2550419 123883 0 123883 123883 123883 16162641 2058300 14329225 612065 1833416 1446235 3279651 3279651 23690 552670 266833 -243143 -243143 766718 734491 32227 55377 -23150 DEACCESSIONS 900099 10022412 10022412 PARKING REVENUE 900099 166273 166273 10188685 35361903 499710 32713 15876345 744803 218848 218848 307107 5826868 4940439 475995 410434 26351 21691 2809 1851 1280695 1070473 140012 70210 462629 361674 58835 42120 302286 220165 60350 21771 49813 10422 39391 68188 68188 31001 31001 239929 239929 314253 282999 31254 434664 312265 52813 69586 176034 176034 6966814 6966814 118417 56294 61794 329 54221 41769 12053 399 165060 115664 49396 431306 314659 78563 38084 189690 189690 EXHIBITION AND COLLECTI 2145078 2145078 ACCESSIONS 2105586 2105586 EDUCATIONAL & ARTISTIC 449775 449775 457647 248905 132479 76263 23041108 20059554 1912146 1069408 507400 2510009 1549464 4424775 3274433 6361152 543732 2788460 273149 288214 7190655 2776641 5975463 4414014 31875261 28428807 73114318 86464538 1606004 1604497 118719224 137284466 1306790 1225267 110184 104399 5788887 3557762 1200913 1110354 8406774 5997782 X 21657123 21859321 46636447 63006195 42018880 46421168 110312450 131286684 118719224 137284466 X 12320795 8616846 36593 X 0 1 X 1 0 X 14382586 17236100 14672381 13345953 18953135 78590155 14382586 17236100 14672381 13345953 18953135 78590155 3612793 74977362 2120548 1733034 3122965 2177321 2651638 11805506 210735 179064 180200 197837 10188685 10956521 101352182 8559964 0.73980 0.78100 X 0 1 0 0 0 0 1 55 0 1 30946 31001 0 PART II-B, LINE 1: IN FY18, MUSEUM STAFF, VOLUNTEERS, AND A PAID LOBBYIST COMMUNICATED WITH STATE AND LOCAL ELECTED OFFICIALS AND EMPLOYEES REGARDING AN UPCOMING RENOVATION PROJECT IN NEED OF SUPPORT. THE MUSEUM ALSO DISCUSSED SUPPORT OF THE ANNUAL ALLOCATION TO THE MARYLAND STATE ARTS COUNCIL (MSAC). MSAC IS A STATE AGENCY THAT MAKES GRANTS TO CULTURAL NONPROFITS ORGANIZATIONS IN MARYLAND, INCLUDING THE BMA. THIS COMMUNICATION INCLUDED WRITING LETTERS AND EMAILS TO SPECIFIC OFFICIALS AND EMPLOYEES, TELEPHONE CALLS AND MEETINGS WITH SPECIFIC OFFICIALS AND EMPLOYEES, AND TRAVELING TO ANNAPOLIS TO PARTICIPATE IN MARYLAND ARTS DAY, AN ANNUAL RALLY IN SUPPORT OF ARTS FUNDING ORGANIZED BY MARYLAND CITIZENS FOR THE ARTS, A NONPROFIT ORGANIZATION. X X X X 0 104735131 5890073 12661470 5688767 117597907 95340191 1240824 14944940 6790824 104735131 96989720 2489043 984888 5123460 95340191 93682489 2430817 4382232 3505818 96989720 79120965 2944929 15425427 3808832 93682489 0.18860 0.36260 0.44880 0 0 100000 100000 5147905 2015876 3132029 1942750 760765 1181985 4414014 HEDGE FUNDS OF FUNDS 177963 F PRIVATE EQUITY FUNDS 8606286 F VANGUARD INSTL INDEX FD (VINIX) 26847354 F VANGUARD RUSSELL 1000 GROWTH (VRGWX) INDEX FUND 11995380 F VANGUARD RUSSELL 1000 VALUE (VRVIX) INDEX FUND 12579487 F VANGUARD TOTAL INTERNATIONAL (VTSNX) STOCK INDEX FUND 19108786 F VANGUARD TOTAL BD MKT INDX #584 (VBTLX) ADM 7149282 F 86464538 PAYABLES UNDER SPLIT INTEREST AGREEMENT 1110354 1110354 X 44740144 8616846 8616846 36123298 239929 -1001324 -761395 35361903 23765910 964731 964731 22801179 239929 239929 23041108 PART III, LINE 1A: THE MUSEUM'S PERMANENT COLLECTION CONSISTS OF OVER 95,000 OBJECTS. THE VALUE OF THE MUSEUM'S COLLECTION OF ART OBJECTS IS NOT CAPITALIZED AND HAS BEEN EXCLUDED FROM THE STATEMENTS OF FINANCIAL POSITION. CONTRIBUTED COLLECTION ITEMS ARE NOT RECOGNIZED AS CONTRIBUTION REVENUE. PURCHASES OF ART OBJECTS BY THE MUSEUM (ACCESSIONS) ARE FUNDED WITH TEMPORARILY RESTRICTED NET ASSETS AND ARE RECORDED AS NONOPERATING DECREASES IN NET ASSETS IN THE STATEMENTS OF ACTIVITIES. SALES OF ART OBJECTS BY THE MUSEUM (DEACCESSIONS) ARE RECORDED AS NONOPERATING INCREASES IN NET ASSETS IN THE STATEMENTS OF ACTIVITIES. PART III, LINE 4: THE BALTIMORE MUSEUM OF ART CONNECTS ART TO BALTIMORE AND BALTIMORE TO THE WORLD, EMBODYING A COMMITMENT TO ARTISTIC EXCELLENCE AND SOCIAL EQUITY IN EVERY DECISION FROM ART PRESENTATION, INTERPRETATION, AND COLLECTING, TO THE COMPOSITION OF OUR BOARD OF TRUSTEES, STAFF, AND VOLUNTEERS - CREATING A MUSEUM WELCOMING TO ALL. PART X, LINE 2: THE MUSEUM ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS POLICY, THE MUSEUM MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE MUSEUM'S TAX POSITIONS AND HAS CONCLUDED THAT THE MUSEUM HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. THE MUSEUM IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2015. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF COST OF GOODS SOLD -734,491. FUNDRAISING EXPENSES -266,833. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF COST OF GOODS SOLD 734,491. LOSS ON INTEREST RATE SWAP -36,593. FUNDRAISING EXPENSES 266,833. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 552809 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES VENICE BEINNALE 1282734 0 0 0 0 0 0 1835543 0 1835543 0 0 1 0 1 0 PART I, LINE 3, VENICE BIENNALE WORKING IN COOPERATION WITH THE U.S. DEPARTMENT OF STATE'S BUREAU OF EDUCATIONAL AND CULTURAL AFFAIRS, BMA DOROTHY WAGNER WALLIS DIRECTOR CHRISTOPHER BEDFORD SERVED AS THE COMMISSIONER OF THE 2017 U.S. PAVILLION AT THE VENICE BIENNALE. THE EXHIBITION ENTITLED TOMORROW IS ANOTHER DAY, FEATURED THE WORK OF LOS ANGELES BASED ARTIST MARK BRADFORD AND WAS CO-CURATED BY BEDFORD AND BMA SENIOR CURATOR, KATY SIEGEL. WORK ON THE EXHIBITION WAS DONE IN BOTH THE U.S. AND ITALY. THE EXHIBITION WAS PRESENTED IN VENICE, ITALY FROM MAY 13 TO NOVEMBER 26, 2017 AND WAS THEN PRESENTED AT THE BMA FROM SEPTEMBER 22, 2018 THROUGH MARCH 3, 2019. BRADFORD DINNER 576360 552670 23690 17939 48879 200015 576360 552670 23690 17939 48879 200015 266833 -243143 X X X X 0 0 0 0 0 0 0 0 0 CHRISTOPHER BEDFORD STAFF CHIEF EXECUTIVE OFFICER 382268 0 0 0 0 0 0 0 20010 0 402278 0 0 0 CHRISTINE DIETZE BONANNO STAFF CHIEF OPERATING OFFICER 164116 0 0 0 0 0 10296 0 21792 0 196204 0 0 0 JUDITH GIBBS STAFF DEPUTY DIR. OF DEV. (THRU 4/30/18) 151300 0 0 0 0 0 9725 0 11421 0 172446 0 0 0 JAY FISHER STAFF DEPUTY DIR. OF CURATORIAL 136559 0 0 0 0 0 8880 0 10191 0 155630 0 0 0 A MARYLAND ECONOMIC DEVELOPMENT CORP 521376562 2010-12-20 8000000 CURRENT REFUNDING OF 2006 ISSUE AND CONSTRUCTION PROJECT 0 0 0 A 4395113 8000000 94250 3932051 2300000 2015 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 1 0 0 0 1 A 1 PART II, LINE 1: THESE BONDS WERE ISSUED AS DRAW DOWN BONDS WITH A MAXIMUM AUTHORIZED DRAW DOWN AMOUNT OF $8,000,000. AS OF DECEMBER 31, 2014, NO FURTHER DRAWS HAVE BEEN OR WILL BE MADE. THEREFORE, THE UNDRAWN AMOUNT OF $1,673,699 WAS CONSIDERED TO BE RETIRED. THIS AMOUNT IS REFLECTED ON PART II LINE 1. ALSO REFLECTED ON PART II LINE 1 ARE PRINCIPAL AMORTIZATION PAYMENTS OF $2,721,414, WHICH WERE MADE FROM JANUARY 1, 2015 THROUGH JUNE 30, 2018. PART II, LINE 11: OTHER SPENT PROCEEDS IS THE AMOUNT OF THE BOND ISSUE USED TO REFUND THE 2006 ISSUE. PART IX, LINE 2C THE REBATE COMPUTATION WAS PERFORMED IN A REBATE REPORT DATED MARCH 2, 2016. X 354 EXCLUDED UNDER SFAS 116 X 37 1978353 FMV 0 1 1 PART I, LINE 32B: PUBLIC AUCTION IS THE USUAL MECHANISM FOR THE DISPOSAL OF WORKS BEING DE-ACCESSIONED FROM THE COLLECTION AFTER REVIEW BY THE DIRECTOR, CURATORS, AN ACCESSIONS COMMITTEE AND FINAL APPROVAL BY THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. THE MUSEUM DOES NOT USE A THIRD PARTY OR RELATED ORGANIZATION TO SOLICIT OR PROCESS NONCASH CONTRIBUTIONS. PART I, LINE 33: THE MUSEUM'S PERMANENT COLLECTION CONSISTS OF OVER 95,000 OBJECTS. IN CONFORMITY WITH ACCOUNTING POLICIES GENERALLY FOLLOWED BY ART MUSEUMS, THE VALUE OF THE MUSEUM'S COLLECTION OF ART OBJECTS IS NOT CAPITALIZED AND HAS BEEN EXCLUDED FROM THE STATEMENTS OF FINANCIAL POSITION, AND GIFTS OF ART OBJECTS ARE NOT RECOGNIZED AS CONTRIBUTED REVENUE. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE REVIEWS A COPY OF FORM 990 IN DETAIL. AFTER THE AUDIT COMMITTEE COMPLETES ITS REVIEW, A DRAFT IS MADE AVAILABLE TO THE ENTIRE BOARD FOR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BMA HAS A QUESTIONNAIRE THAT REQUIRES TRUSTEES WITH VOTING PRIVILEGES TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ONE HUNDRED PERCENT OF VOTING TRUSTEES COMPLETED THE QUESTIONNAIRE AND CERTIFIED THE DOCUMENT WITH THEIR RESPECTIVE SIGNATURES. NO CONFLICTS OF INTEREST WERE IDENTIFIED. TRUSTEES ARE ASKED TO BRING ANY CONFLICTS OF INTEREST TO THE ATTENTION OF THE CHAIR OF THE BOARD OF TRUSTEES AS CHAIR OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES CONDUCTS AN ANNUAL PERFORMANCE REVIEW OF THE DIRECTOR AND RECOMMENDS COMPENSATION FOR THE DIRECTOR BASED ON PERFORMANCE AND THE REVIEW OF COMPARABLE DATA FROM SIMILAR INSTITUTIONS. THE BOARD OF TRUSTEES APPROVES THE ANNUAL OPERATING BUDGET WHICH INCLUDES COMPENSATION FOR THE DIRECTOR. THE DECISIONS OF THE COMPENSATION COMMITTEE ARE COMMUNICATED IN WRITING FROM THE BOARD CHAIR TO THE CHIEF OPERATING OFFICER, WRITTEN NOTES ACCOMPANY THE BUDGET AND MINUTES OF THE BOARD OF TRUSTEES MEETINGS ARE MAINTAINED. THE MUSEUM PARTICIPATES ANNUALLY IN SALARY SURVEYS TO BENCHMARK COMPENSATION RANGES AGAINST PEER INSTITUTIONS. THE BOARD OF TRUSTEES APPROVES THE ANNUAL OPERATING BUDGET WHICH INCLUDES COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. WRITTEN NOTES ACCOMPANY THE BUDGET AND MINUTES OF THE BOARD OF TRUSTEES MEETINGS ARE MAINTAINED. FORM 990, PART VI, SECTION C, LINE 19 BMA MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: LOSS ON INTEREST RATE SWAP 36,593.