2019-05-14T20:25:07-05:00 2018-06-30 135565207 KPMG LLP 1676 INTERNATIONAL DRIVE MCLEAN VA 22102 990 2017-07-01 231365388 Philadelphia Museum of Art PHIL 2157638100 PO Box 7646 Philadelphia PA 191017646 Deborah Johnston CFO 2156847801 2019-05-14 1 JG White P01498698 7032868000 65.154.134.2 2019-05-14 21:23:19 ED P C0D54A9D0FC63CDA5E2ED1CE705AF132DB86A493 C0D54A9D0FC63CDA5E2ED1CE705AF132DB86A493 2017 2019-02-21 02:37:17Z Timothy Rub PO Box 7646 Philadelphia PA 191017646 155126970 0 X www.philamuseum.org X 1876 PA To preserve, enhance, interpret, and extend the reach of its collections to a diverse audience. 67 65 678 330 310155 -200144 64938967 51460486 7278266 7599122 7821046 12343063 3183141 2417768 83221420 73820439 0 0 0 0 31222411 32207958 164995 148552 5567677 41548956 40302528 72936362 72659038 10285058 1161401 962537055 1009323665 83731012 94517656 878806043 914806009 X To preserve, enhance, interpret, and extend the reach of its collections to a diverse audience.See Schedule O for more details.The Philadelphia Museum of Art in partnership with the city, the region and art museums around the globe-seeks to preserve, enhance, interpret and extend the reach of its great collections in particular and the visual arts in general, to an increasing and increasingly diverse audience as a source of delight, illumination, and lifelong learning. 0 0 13799566 157422 Curatorial activities, including collection care and the acquisition of various art objects. 5081313 1236854 Special exhibition program and planning including the presentation of the following exhibitions, Modern Times: American Art 1910-1950, Philadelphia Assembled, Old Masters Now: Celebrating the Johnson Collection and Jean Shin: Collections. 4013678 315983 Education programs for children, disabled, and general public to provide a better understanding of Museum's collection and art in general. Program attendance - 187,225. 21153663 Protection services and maintenance of facilities 1434042 831041 Museum shop operating expenses 1382793 Communications and Marketing 1975798 115195 Museum Publications 3817528 5417973 Membership and visitor services 270292 40352 Rights & reproductions and photography 587393 315343 Group sales and special events 2462718 Information & Interpretive Technologies 1263932 Library 34348159 6719904 57242716 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 332 0 1 678 1 1 1 0 0 0 0 1 1 0 0 0 0 X 67 65 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA NJ NY CT FL CA AL AK AR CO GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NM NC ND OH OK OR RI SC TN UT VA WA WV WI DC X Deborah Johnston 2156847801 2525 Pennsylvania Avenue Philadelphia PA 19130 Timothy F Rub Director and CEO 35.00 X X 648968 0 50934 Gail M Harrity President and COO 35.00 X X 393217 0 30716 John R Alchin Trustee 1.00 X 0 0 0 Dennis Alter Trustee 1.00 X 0 0 0 Barbara Aronson Trustee 1.00 X 0 0 0 Sheldon M Bonovitz Trustee 1.00 X 0 0 0 Ira Brind Trustee 1.00 X 0 0 0 Julian Brodsky Trustee 1.00 X 0 0 0 Priscilla S Brown Trustee 1.00 X 0 0 0 Dr Constance E Clayton Trustee 1.00 X 0 0 0 John G Drosdick Trustee 1.00 X 0 0 0 Edward Fernberger Jr Trustee 1.00 X 0 0 0 Jaimie Spector Field Trustee 1.00 X 0 0 0 Mrs Jack M Friedland Trustee 1.00 X 0 0 0 David Haas Trustee 1.00 X 0 0 0 Lynne Honickman Trustee 1.00 X 0 0 0 Joan M Johnson Trustee 1.00 X 0 0 0 Berton E Korman Trustee 1.00 X 0 0 0 Ronald P Lassin Trustee 1.00 X 0 0 0 Victoria McNeil Le Vine Trustee 1.00 X 0 0 0 Maxine Lewis Trustee 1.00 X 0 0 0 Mary Patterson McPherson Trustee 1.00 X 0 0 0 John J Medveckis Trustee 1.00 X 0 0 0 Martha Hamilton Morris Trustee 1.00 X 0 0 0 Raymond G Perelman Trustee 1.00 X 0 0 0 Mark E Rubenstein Trustee 1.00 X 0 0 0 Keith L Sachs Trustee - deceased 1.00 X 0 0 0 David William Seltzer Trustee 1.00 X 0 0 0 Martha McGeary Snider Trustee 1.00 X 0 0 0 Bruce E Toll Trustee 1.00 X 0 0 0 Constance H Williams Trustee 1.00 X 0 0 0 Dr John T Williams Trustee 1.00 X 0 0 0 Jerry Wind Trustee 1.00 X 0 0 0 Charles K Williams II Trustee 1.00 X 0 0 0 H Richard Dietrich III Trustee 1.00 X 0 0 0 Dr Donald B Parks Trustee 1.00 X 0 0 0 Lyn M Ross Trustee 1.00 X 0 0 0 Darell L Clark Trustee Ex Officio 1.00 X 0 0 0 Marsha W Rothman Trustee 1.00 X 0 0 0 Gretchen Burke Trustee 1.00 X 0 0 0 Angelica Zander Rudenstine Trustee 1.00 X 0 0 0 Joan F Thalheimer Trustee 1.00 X 0 0 0 Marta Adelson Trustee 1.00 X 0 0 0 Osagie O Imasogie Trustee 1.00 X 0 0 0 Leslie A Miller Trustee 1.00 X 0 0 0 Pia Roy Chowdhury Trustee 1.00 X 0 0 0 Sueyun Locks Trustee 1.00 X 0 0 0 Andrea M Baldeck MD Trustee 1.00 X 0 0 0 Anne F Hamilton Trustee 1.00 X 0 0 0 Bonnie F McCausland Trustee 1.00 X 0 0 0 Ajay Raju Trustee 1.00 X 0 0 0 Dr Jolley B Christman Trustee Ex Officio - term ended 1.00 X 0 0 0 Tom Wolf Trustee Ex Officio 1.00 X 0 0 0 Romulo L Diaz Jr Trustee 1.00 X 0 0 0 Amy A Fox Trustee Ex Officio - term ended 1.00 X 0 0 0 David D Langfitt Trustee 1.00 X 0 0 0 Ellen Caplan Trustee 1.00 X 0 0 0 Phoebe Haddon Trustee 1.00 X 0 0 0 Hilarie Morgan Trustee 1.00 X 0 0 0 Zoe C Pappas Trustee 1.00 X 0 0 0 Jennifer Rice Trustee 1.00 X 0 0 0 James F Kenney Trustee Ex Officio 1.00 X 0 0 0 Mary N Leer Trustee Ex Officio 1.00 X 0 0 0 Anne Hilton Trustee Ex Officio 1.00 X 0 0 0 John J Soroko Trustee Ex Officio 1.00 X 0 0 0 Emily Cavanagh Trustee 1.00 X 0 0 0 Orlando Esposito Trustee 1.00 X 0 0 0 Amy A Fox Trustee 1.00 X 0 0 0 Mark B Goodheart Trustee Ex Officio 1.00 X 0 0 0 Sally Sharkey Trustee Ex Officio 1.00 X 0 0 0 Robert T Rambo CFO - through March 30, 2018 35.00 1.00 X 296811 0 29966 Jeffrey Blair Secretary and General Coun 35.00 X 273525 0 27658 Deborah Johnston CFO 35.00 1.00 X 0 0 0 Alice Beamesderfer Deputy Director for Collec 35.00 X 173353 0 23188 Ali Shaikholislami Director of Engineering&Fa 35.00 X 190123 0 16053 Jonathan L Peterson Director of Development 35.00 X 285221 0 21438 David Blackman Deputy Director of Develop 35.00 X 230444 0 29185 William Weinstein Director of IIT 35.00 X 165062 0 23100 Carlos Basualdo Curator of Contemporary Ar 35.00 X 160439 0 9410 James Cincotta Director of Retail - through June 18, 2018 35.00 X 161308 0 15894 Luis Bravo Creative and Brand Engagement Director 35.00 X 144692 0 21951 3123163 0 299493 36 0 1 0 Dougherty Electric 45 West Porter Street Philadelphia PA 19148 Construction 7955352 LF Driscoll Co 9 Presidential Boulevard Bala Cynwyd PA 19004 Construction 7939793 TRACEY MECHANICAL INC 8 CAMPUS BOULEVARD Newtown Square PA 19073 Construction 4995248 JPC GROUP INC 1309 HARMONY STREET Philadelphia PA 19146 Construction 4514649 UNIVERSAL PROTECTION SERVICE LP 161 Washington Street Suite 600 Conshohocken PA 19428 Security 3936743 49 5071988 9553382 36835116 14100077 51460486 Admissions 900099 5126866 5126866 Traveling exhibition f 900099 672000 672000 Philadelphia Art and A 900099 564854 564854 Education programs 611710 315983 315983 Rental of space 900099 270533 270533 648886 648886 7599122 5602264 183278 5418986 86116573 79375774 6740799 6740799 6740799 2888675 1930757 957918 831041 126877 Parking revenues 900099 924623 924623 Concession fees 900099 535227 535227 1459850 73820439 8430163 310155 13619635 X 2381545 966867 1097484 317194 23558447 18720014 1860207 2978226 991591 780107 96683 114801 3268898 2765132 145633 358133 2007477 1525447 226711 255319 86399 86399 95842 95842 103746 103746 148552 148552 3378226 3378226 7567436 6960984 441418 165034 1065641 1061891 3750 1821234 1478314 82632 260288 755860 665790 52768 37302 1101 1101 1711493 1591920 74393 45180 587275 430807 107106 49362 66136 37534 8440 20162 928686 602906 270912 54868 9298567 8713687 369153 215727 1027581 342463 684286 832 Special exhibitions 3470416 3470416 Acquisitions 2533110 2533110 Education, library & co 2043520 2043520 Conservation and other 839429 839429 2920830 1711277 666606 542947 72659038 57242716 9848645 5567677 59195540 62879716 101136486 72832360 990076 1020402 1549817 927376 3580740 1706694 471237707 101424748 317876401 369812959 123292194 141060463 343433597 346274010 11482204 12809685 962537055 1009323665 21792015 23903727 358828 1801589 49332870 66825138 10000000 0 2247299 1987202 83731012 94517656 X 361662521 405017600 198520836 179709834 318622686 330078575 878806043 914806009 962537055 1009323665 X 1161401 33844762 993803 X 0 1 X 1 0 X 74214787 48311592 90579026 64938967 51460486 329504858 3500000 3250000 3000000 3400000 3500000 16650000 77714787 51561592 93579026 68338967 54960486 346154858 16735673 329419185 6138055 5850581 5118974 4157230 5602264 26867104 1030416 1084756 1403710 1573977 1459850 6552709 379574671 49748033 0.86790 0.84210 X Schedule A, Part II, Line 10, Explanation of Other Income: Parking revenues - 2013 Amount: $ 674,974. 2014 Amount: $ 710,696. 2015 Amount: $ 1,026,166. 2016 Amount: $ 1,060,611. 2017 Amount: $ 924,623. Concession fees - 2013 Amount: $ 355,442. 2014 Amount: $ 374,060. 2015 Amount: $ 377,544. 2016 Amount: $ 513,366. 2017 Amount: $ 535,227. 113732 113732 72545306 72659038 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 111862 111180 110028 113732 446802 250000 250000 250000 250000 1000000 1500000 X X X X 0 466725791 6558162 40482695 26432175 487334473 437090620 6121677 48780666 25267172 466725791 454571342 22948547 -18431776 21997493 437090620 451468293 10890251 13315022 21102224 454571342 382041487 16033508 72934553 19541255 451468293 0.18460 0.62030 0.19510 1 0 2983347 2983347 318011598 93294465 224717133 14126620 8130283 5996337 136116142 136116142 369812959 Limited partnerships and other 506622 F US stock funds 49587197 F Global stock funds 31602681 F Global(exUS)developed mkts stock fds 65855295 F Global(exUS)emerging mkts stock fds 31471327 F Hedge funds 94724258 F Private equity & venture capital fds 47796859 F Mortgage backed securities funds 110900 F Real asset funds 4417783 F Private real estate funds 8732870 F Oil and gas funds 11468218 F 346274010 Obligations under split-interest agreements 1987202 1987202 X 110711535 33844762 3500000 2924560 40269322 70442213 3378226 3378226 73820439 74711569 3500000 1930757 5430757 69280812 3378226 3378226 72659038 Part III, Line 1a: The collections, which were acquired through purchases and contributions since the Museum's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Unexpended proceeds from deaccessions are reflected in the unrestricted net asset class. Their use is limited, however, by museum professional standards, which require that such proceeds be made available solely for acquisition of other art objects. Part III, Line 4: The Museum is home to over 240,000 objects, spanning the creative achievements of the Western world since the first century AD and those of Asia since the third millennium BC. The European holdings date from the Medieval era to the present, and the collection of arms and armor is the second largest in the United States. The American collections are among the finest in the country, as are the expanding collections of modern and contemporary art. In addition, the Museum houses encyclopedic holdings of costume and textiles as well as prints, drawings, and photographs that are displayed in rotation for reasons of preservation. Part V, Line 4: The endowment is used to maintain the collection of artwork and to acquire future works of art that enhance and promote the mission of the Philadelphia Museum of Art. Part X, Line 2: The Museum has been recognized by the Internal Revenue Service as exempt from federal income tax under Section 501(c)(3) of the U.S. Internal Revenue Code, except for taxes on income from activities unrelated to its exempt purpose. Accordingly, no provision for income taxes has been made in the accompanying financial statements. Accounting principles generally accepted in the United States require management to evaluate tax positions taken by the Museum and recognize a tax liability (or asset) if the museum has an uncertain tax position that more likely than not would not be sustained upon examination by the IRS. Management has concluded that as of June 30, 2018, there are no uncertain tax positions taken or expected to be taken by the Museum that would require recognition of a liability (or asset) or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Cost of goods sold 1,930,757. Change in FMV of interest rate exchange agreements 993,803. Part XII, Line 2d - Other Adjustments: Cost of goods sold 1,930,757. Central America And The Caribbean 0 0 Investments 80506859 0 0 0 0 0 0 80506859 0 80506859 1 0 1 1 1 0 X X X X X X 1 Grenzebach Glier & Associates Inc 401 N Michigan Avenue Suite 2800 Chicago IL 60611 Consultant 0 0 46552 -46552 CDR Fundraising Group 16900 Science Drive Suite 210 Bowie MD 20715 Consultant 0 0 102000 -102000 148552 -148552 PA NJ NY CT FL CA AL AK AR CO GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NM NC ND OH OK OR RI SC TN UT VA WA WV WI DC Schedule G, Part I, Line 2b, Column (v) CONSULTING SERVICES X X X X X 0 0 0 0 0 0 0 0 0 Timothy F Rub Director and CEO 645158 0 0 0 3810 0 13375 0 37559 0 699902 0 0 0 Gail M Harrity President and COO 389407 0 0 0 3810 0 13375 0 17341 0 423933 0 0 0 Robert T Rambo CFO - through March 30, 2018 290630 0 0 0 6181 0 13375 0 16591 0 326777 0 0 0 Jeffrey Blair Secretary and General Coun 273225 0 0 0 300 0 10317 0 17341 0 301183 0 0 0 Alice Beamesderfer Deputy Director for Collec 169985 0 0 0 3368 0 9032 0 14156 0 196541 0 0 0 Ali Shaikholislami Director of Engineering&Fa 186495 0 0 0 3628 0 9595 0 6458 0 206176 0 0 0 Jonathan L Peterson Director of Development 284531 0 0 0 690 0 13375 0 8063 0 306659 0 0 0 David Blackman Deputy Director of Develop 229154 0 0 0 1290 0 11844 0 17341 0 259629 0 0 0 William Weinstein Director of IIT 163991 0 0 0 1071 0 6176 0 16924 0 188162 0 0 0 Carlos Basualdo Curator of Contemporary Ar 159910 0 0 0 529 0 8039 0 1371 0 169849 0 0 0 James Cincotta Director of Retail - through June 18 160284 0 0 0 1024 0 8283 0 7611 0 177202 0 0 0 Luis Bravo Creative and Brand Engagement Direct 144487 0 0 0 205 0 5162 0 16789 0 166643 0 0 0 A Philadelphia Authority for Industrial Development 232237287 7178184U9 2017-08-01 46530000 Reissuance of Revenue Bonds(Philadelphia Museum of Art Project)Series 2008 0 0 0 B Philadelphia Authority for Industrial Development 232237287 Noneavail 2017-04-13 100000000 Financing of the renovation of existing building 0 0 0 A 46530000 46530000 2010 1 0 1 1 B 20840000 145000 20695000 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 2(c) (A) - Rebate computation for the period from June 23, 2010 to June 22, 2015 (the "Computation Period") was completed on August 21, 2015. Schedule K, Part IV, Line 2(c) (B) - Draw down loan; $20,840,000 has been drawn to date and expect that all draws will be made within three years of the issue date. X 1021 X 187 14100077 Market Value 35 0 0 0 Form 990, Part VI, Section A, line 2 Ira Brind and Jamie Field, both Trustees, have a familial relationship. Form 990, Part VI, Section B, line 11b Form 990 is prepared by the Museum's Finance Department. The return is reviewed by management and outside independent tax advisors. The return is made available to all trustees for review prior to it being filed with Internal Revenue Service. Form 990, Part VI, Section B, line 12c The Museum's Conflict of Interest Policy is reviewed and updated periodically by The Museum's Board of Trustees. The Museum's Board of Trustees, Officers and Key Employees complete an Annual Conflict of Interest Questionnaire. The Museum's Conflict of Interest Policy requires, among other things, that Trustees, Officers and Key Employees disclose conflicts and potential conflicts and that interested parties not participate in any vote to consider a transaction that might constitute a conflict. Form 990, Part VI, Section B, line 15 The process the Museum uses to establish compensation for officers and key employees includes a complete review of executive compensation levels by the Museum's independent Compensation subcommittee. The review is based on a market analysis prepared by the Museum's Finance department under the direction and supervision of the Compensation subcommittee using published compensation surveys and available tax returns for Not-for-profit organizations comparable in scope and size to the Philadelphia Museum of Art. The Compensation subcommittee contemporaneously documents the results of the deliberations and decisions in the minutes. Form 990, Part VI, Section C, line 19 The Museum's Form 990 is posted annually on the website www.guidestar.org. The Museum's Annual Report and Audited Financial Statements are posted on its website. The Museum's governing documents and conflict of interest policy are available upon request. Form 990, Part IX, line 11g Payroll Processing Fees: Program service expenses 0. Management and general expenses 53,810. Fundraising expenses 0. Total expenses 53,810. HR Consultants: Program service expenses 0. Management and general expenses 66,138. Fundraising expenses 0. Total expenses 66,138. Other Consultants: Program service expenses 40,255. Management and general expenses 39,064. Fundraising expenses 0. Total expenses 79,319. Security: Program service expenses 3,695,267. Management and general expenses 151,071. Fundraising expenses 88,284. Total expenses 3,934,622. Maintenance Contract and Contract Extras: Program service expenses 3,225,462. Management and general expenses 131,335. Fundraising expenses 76,750. Total expenses 3,433,547. Form 990, Part XI, line 9: Change in fair value of interest rate exchange agreement 993,803. The Anne H & Frederick Vogel III Collection for Philadelphia Museum of Art PO Box 7646 Philadelphia PA 19101 364459089 Assembling a collection of American Furniture & Decorative Art for PMA. PA 501(c)3 509(a)(3) I Philadelphia Museum of Art 1 Samuel S Fleisher Art Memorial PO Box 7646 Philadelphia PA 19101 232249360 Operate and maintain a school of art and museum. PA 501(c)3 10 Philadelphia Museum of Art 1 Charitable Remainder Trusts - PA (1) CHARITABLE TRUST PA N/A T 0 Charitable Remainder Trusts - NC (3) CHARITABLE TRUST NC N/A T 0 Charitable Remainder Trusts - NY (1) CHARITABLE TRUST NY N/A T 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 Samuel S Fleisher Art Memorial L 63000 FMV