2019-08-15T15:34:36-05:00 2018-09-30 450250958 EIDE BAILLY LLP 7001 E BELLEVIEW AVE STE 700 DENVER CO 80237 990 2017-10-01 841515243 ASPEN ART MUSEUM FOUNDATION ASPE 9709258050 637 EAST HYMAN AVENUE ASPEN CO 81611 RICHARD GOODMAN PRESIDENT 9709258050 2019-08-14 1 KYLE FRITCH CPA P01313374 3037705700 2019-08-13 216.147.181.48 2019-08-14 09:54:39 MD P 38E7B26ACDED65A6206348105EC66FC115FD0A44 38E7B26ACDED65A6206348105EC66FC115FD0A44 2017 2019-02-21 02:37:17Z RICHARD GOODMAN 637 EAST HYMAN AVENUE ASPEN CO 81611 6795701 0 X WWW.ASPENARTMUSEUM.ORG X 1999 CO ESTABLISHMENT AND MAINTENANCE OF AN ENDOWMENT FUND EXCLUSIVELY FOR THE ASPEN ART MUSEUM 7 7 0 0 0 0 7632753 6762864 0 0 9 127 -27727 -16611 7605035 6746380 624153 808850 0 0 0 0 0 0 0 1092 1500 625245 810350 6979790 5936030 26202845 32753088 326899 6385 25875946 32746703 THE ESTABLISHMENT AND MAINTENANCE OF AN ENDOWMENT FUND EXCLUSIVELY FOR THE USE OF THE ASPEN ART MUSEUM. 0 0 808850 808850 ESTABLISH AND MAINTAIN AN ENDOWMENT FUND EXCLUSIVELY FOR THE BENEFIT OF THE ASPEN ART MUSEUM. 808850 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 1 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 CO X X TYLER SCHUBE 9709258050 637 E HYMAN AVENUE ASPEN CO 81611 RICHARD GOODMAN PRESIDENT 1.00 2.00 X X 0 0 0 PAUL SCHORR VICE PRESIDENT 1.00 2.00 X X 0 0 0 DON KAUL SECRETARY 1.00 2.00 X X 0 0 0 MARCY EDELSTEIN TREASURER 1.00 2.00 X X 0 0 0 JOHN PHELAN BOARD MEMBER 1.00 4.00 X 0 0 0 PAUL PARISER BOARD MEMBER 1.00 4.00 X 0 0 0 LARRY MARX BOARD MEMBER 1.00 0.00 X 0 0 0 HEIDI ZUCKERMAN EX OFFICIO MEMBER 2.00 60.00 X 0 741334 29444 0 741334 29444 0 0 1 0 0 6762864 6762864 127 127 32710 49321 -16611 -16611 -16611 6746380 0 0 -16484 808850 808850 40 40 1460 1460 810350 808850 1500 0 75925 30130 3854636 6469627 0 100 1145970 178458 996160 967512 21276124 25285719 26202845 32753088 326899 6385 326899 6385 X 1009341 991357 2109808 2235685 22756797 29519661 25875946 32746703 26202845 32753088 5936030 934727 0 X 0 1 X 1 0 X X 1 ASPEN ART MUSEUM 840746671 7 1 808850 0 1 808850 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 24889239 6762864 934727 808850 31777980 15646129 7632753 2234510 624153 24889239 13314136 1513570 1305525 487102 15646129 13218895 1026961 -545347 386373 13314136 8822437 4077829 607111 288482 13218895 0.00060 0.92900 0.07040 0 0 1145970 178458 967512 967512 X 7730428 934727 934727 6795701 -49321 -49321 6746380 859671 49321 49321 810350 0 810350 PART V, LINE 4: THE ENDOWMENT CONSISTS OF APPROXIMATELY 13 INDIVIDUAL FUNDS ESTABLISHED BY DONORS TO PROVIDE ANNUAL FUNDING FOR SPECIFIC ACTIVITIES AND GENERAL OPERATIONS OF ASPEN ART MUSEUM. ENDOWMENT FUND EARNINGS ARE EITHER RESTRICTED OR UNRESTRICTED BASED ON THE DONOR'S REQUEST. RESTRICTED FUNDS INCLUDE EXHIBITION COSTS, LECTURE SERIES, VISITING ARTISTS, DIRECTOR COSTS, LATIN AMERICA ART OUTREACH, ROOF DECK EXHIBITION COSTS, AND PUBLICATIONS. THE UNRESTRICTED ENDOWMENT FUND ALLOWS FOR EARNINGS TO BE USED FOR GENERAL MUSEUM PURPOSES. PART X, LINE 2: ASPEN ART MUSEUM FOUNDATION IS ORGANIZED AS A COLORADO NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTIONS 170(B)(1)(A)(VIII), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(3), RESPECTIVELY. THE FOUNDATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. THE FOUNDATION IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO ITS EXEMPT PURPOSES. THE FOUNDATION HAS DETERMINED IT IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAS NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED WITH REVENUE ON FORM 990 -49,321. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED WITH REVENUE ON FORM 990 49,321. 1 ASPEN ART MUSEUM 637 E HYMAN AVENUE ASPEN CO 81611 840746671 501(C)(3) 808850 MUSEUM OPERATIONS 1 0 PART I, LINE 2: ENDOWMENT FUND DRAW REQUESTS (GRANTS) TO THE MUSEUM ARE REVIEWED BY THE BOARD OF TRUSTEES AND ARE REQUIRED TO BE THE LESSOR OF THE AVERAGE VALUE OF THE FUND AS OF DECEMBER 31 OF EACH OF THE PRECEEDING 3 YEARS OR THE AMOUNT REPORTED BY THE MUSEUM AS EXPENSES FOR THE DONOR DESIGNATION. REPORTS TO DONORS (IF REQUIRED) AND MUSEUM FINANCIAL STATEMENTS ARE USED TO VERIFY GRANT REQUESTS AND SHARED WITH THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES APPROVES GRANT REQUESTS ANNUALLY. 0 0 0 0 0 0 0 0 0 HEIDI ZUCKERMAN EX OFFICIO MEMBER 0 415000 0 326334 0 0 0 8100 0 21344 0 770778 0 0 PART I, LINE 3 THE FOUNDATION RELIED ON A RELATED ORGANIZATION THAT USED ONE OR MORE OF THESE METHODS TO ESTABLISH THE COMPENSATION OF THE EX OFFICIO MEMBER, WHO IS THE CHIEF EXECUTIVE OFFICER/DIRECTOR OF THE ASPEN ART MUSEUM. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS JOHN PHELAN, PAUL PARISER, PAUL SCHORR HAVE A BUSINESS RELATIONSHIP WITH HEIDI ZUCKERMAN WHO IS AN OFFICER OF A RELATED TAX-EXEMPT ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES OF THE ASPEN ART MUSEUM SHALL APPROVE THE APPOINTMENT OF THE BOARD OF DIRECTORS OF THE FOUNDATION. PER THE BYLAWS OF THE ASPEN ART MUSEUM FOUNDATION, THE MAJORITY OF THE POSITIONS ON THIS BOARD ARE PRE-SET BASED ON SPECIFIC ROLES WITH THE ASPEN ART MUSEUM'S BOARD OF TRUSTEES AS WELL AS THE MUSEUM'S NATIONAL COUNCIL. FORM 990, PART VI, SECTION A, LINE 8B THE FOUNDATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VIII, LINE 1 & SCHEDULE B, PART I THE SUM OF THE ENTRIES ON THE SCHEDULE B WORKSHEET, GENERAL CONTRIBUTOR INFORMATION SECTION, AGGREGATE CONTRIBUTIONS EXCEED THE TOTAL CONTRIBUTIONS ON FORM 990, PART VIII, LINE 1, COLUMN A. THE DIFFERENCE IS DUE TO ADJUSTMENTS MADE IN REGARDS THE CHANGE IN NET PRESENT VALUE REPORTING IN A PRIOR YEAR. CONTRIBUTIONS REPORTED FOR DONORS IN PREVIOUS YEARS MAY BE OVERSTATED. 81611 PROPERTIES LLC 637 E HYMAN AVENUE ASPEN CO 81611 452429880 HOLDS TITLE TO REAL ESTATE CO 32710 991920 ASPEN ART MUSEUM FOUNDATION ASPEN ART MUSEUM 637 E HYMAN AVENUE ASPEN CO 81611 840746671 ART MUSEUM CO 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 1 0