2019-05-13T15:06:14-05:00 2017-06-30 540504608 BROWN EDWARDS & COMPANY LLP 701 TOWN CENTER DRIVE NEWPORT NEWS VA 23606 990 2016-07-01 461110899 MUSCARELLE MUSEUM OF ART FOUNDATION MUSC 7572212717 PO BOX 8795 WILLIAMSBURG VA 23187 ROBERT S ROBERSON BOARD CHAIR 7572212717 2019-05-13 1 M C WINGFIELD P00005971 7578731033 2019-05-13 206.248.228.130 2019-05-13 09:18:27 ED 549218201813403c2e21 2018-05-14 P 62178AAA113F6D5AB017BA2BB195345E1529D933 D73830EE5D935DCFCE4AB299B416ECFF4859A746 2016 2019-02-21 02:37:17Z X ROBERT S ROBERSON PO BOX 8795 WILLIAMSBURG VA 23187 2379849 0 X WWW.WM.EDU/MUSCARELLE/ X 2012 VA THE MISSION OF THE MUSCARELLE MUSEUM OF ART IS TO FOSTER THE FULL INTEGRATION OF A DYNAMIC ART MUSEUM INTO THE LIFE AND LIBERAL ARTS MISSION OF THE COLLEGE OF WILLIAM AND MARY AND TO SERVE AS A MODEL OF CURATORIAL EXCELLENCE AND A CATALYST FOR ART EXPLORATION AT THE COLLEGE AND IN THE SURROUNDING COMMUNITY. 35 34 2 130 0 0 3123390 723539 1017842 1233668 14184 586 -117929 131850 4037487 2089643 0 0 0 0 475021 453973 0 0 10672 1680715 1967970 2155736 2421943 1881751 -332300 3690297 4071244 399251 1065684 3291046 3005560 X THE MISSION OF THE MUSCARELLE MUSEUM OF ART IS TO FOSTER THE FULL INTEGRATION OF A DYNAMIC ART MUSEUM INTO THE LIFE AND LIBERAL ARTS MISSION OF THE COLLEGE OF WILLIAM AND MARY AND TO SERVE AS A MODEL OF CURATORIAL EXCELLENCE AND A CATALYST FOR ART EXPLORATION AT THE COLLEGE AND IN THE SURROUNDING COMMUNITY.THE MUSCARELLE MUSEUM OF ART WILL PLAY A LEADERSHIP ROLE IN THE CREATION OF A VIBRANT NEW INTEGRATED ARTS COMPLEX AT THE COLLEGE OF WILLIAM AND MARY. THE MUSCARELLE WILL BE AN IMPRESSIVE PORTAL TO A FACILITY THAT WILL ACCOMMODATE ALL PERFORMING AND FINE ARTS DEPARTMENTS, ENCOURAGE THE PARTICIPATION OF MANY OTHER UNIVERSITY DISCIPLINES, AND BRING TOGETHER THE CAMPUS AND THE LARGER COMMUNITY. 0 0 561178 34536 THE MUSCARELLE MUSEUM EMPLOYED PROFESSIONALS FOR CARE AND MANAGEMENT OF THE MUSEUM'S COLLECTION AND COORDINATION OF TRAVELING EXHIBITIONS. THE MUSEUM INCURS COSTS FOR CONSERVATION, SHIPPING, AND CARE OF ARTWORK. 1449519 1233668 THE MUSCARELLE MUSEUM OF ART PRESENTED EXHIBITS WHICH DERIVED INCOME FROM ADMISSIONS AS WELL AS EXHIBIT SALES. 2010697 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 15 0 1 2 1 0 0 0 0 0 0 0 0 X 35 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 1 1 0 X MUSCARELLE MUSEUM OF ART FOUNDATION 7572212717 603 JAMESTOWN ROAD WILLIAMSBURG VA 23185 RAY C STONER CHAIR 10.00 X X 0 0 0 ROBERT S ROBERSON VICE CHAIR 10.00 X X 0 0 0 SHARON MUSCARELLE SECRETARY 10.00 X X 0 0 0 POLLY S BARTLETT TREASURER 10.00 X X 0 0 0 BETSY C ANDERSON TRUSTEE 1.00 X 0 0 0 MARI ANN BANKS TRUSTEE 1.00 X 0 0 0 STANLEY BUTCH BARR TRUSTEE 1.00 X 0 0 0 P GRAY BOWDITCH TRUSTEE 1.00 X 0 0 0 DAVID M BRASHEAR TRUSTEE 1.00 X 0 0 0 TJ CARDWELL TRUSTEE 5.00 X 0 0 0 DAVID CRANK TRUSTEE 1.00 X 0 0 0 ANN CRITCHFIELD TRUSTEE 1.00 X 0 0 0 CATHERINE O GARLAND TRUSTEE 0.00 1.00 X 0 0 0 TOM GILLMAN TRUSTEE 1.00 X 0 0 0 SARAH O GUNN TRUSTEE 0.00 1.00 X 0 0 0 BETSY HANLON TRUSTEE 1.00 X 0 0 0 GEORGE E HOWELL TRUSTEE 1.00 X 0 0 0 JANE KAPLAN TRUSTEE 1.00 X 0 0 0 DAVID T LIBERTSON TRUSTEE 1.00 X 0 0 0 ANN B MILLIMAN TRUSTEE 1.00 X 0 0 0 TODD MOORADIAN TRUSTEE 1.00 X 0 0 0 RICK NAHM TRUSTEE 1.00 X 0 0 0 PATRISIA B OWENS TRUSTEE 1.00 X 0 0 0 PAMELA G PALMORE TRUSTEE 1.00 X 0 0 0 FRANK PARRISH TRUSTEE 1.00 X 0 0 0 KATHLEEN M RING TRUSTEE 1.00 X 0 0 0 CHRISTINE C ROWLAND TRUSTEE 1.00 X 0 0 0 ANNA C SIM TRUSTEE 1.00 X 0 0 0 JANE Y SPURLING TRUSTEE 1.00 X 0 0 0 JOSEPH STEELE III TRUSTEE 1.00 X 0 0 0 MATTHEW R WILLIAMS TRUSTEE 1.00 X 0 0 0 AARON DE GROFT DIRECTOR AND CEO 15.00 40.00 X X 0 76633 23497 W TAYLOR REVELEY EX-OFFICIO MEMBER 1.00 X 0 0 0 MICHAEL HALLERAN EX-OFFICIO MEMBER 1.00 X 0 0 0 CHRISTINA CARROLL ASSISTANT SECRETARY 15.00 40.00 X 0 5000 0 CINDY LUCAS ASSISTANT SECRETARY 15.00 40.00 X 0 24184 7100 0 105817 30597 0 0 0 0 0 135224 85134 503181 85134 723539 EXHIBIT RENT 900099 950000 950000 ADMISSION FEES 900099 283668 283668 1233668 586 586 12915 0 12915 12915 12915 356886 85134 272487 84399 84399 52255 17719 34536 34536 2089643 1268204 0 97900 453973 326342 127631 19116 19116 1004 1004 62307 44942 17365 214638 154015 60623 38699 3250 35449 466305 460867 5438 112206 8949 92585 10672 7017 7017 FREIGHT & DELIVERY 657214 657214 ART ACQUISITIONS AND CO 231993 231993 EVENTS 156699 122575 34124 REPAIRS AND MAINTENANCE 772 550 222 2421943 2010697 400574 10672 488953 923598 835818 1072292 1889015 1560208 39688 50000 21699 3980 13455 0 13455 13455 401669 447711 3690297 4071244 40228 270034 359023 795650 399251 1065684 X 357404 3005560 2933642 0 3291046 3005560 3690297 4071244 -332300 46814 0 X 0 0 0 X 723539 628896 1616567 2970293 1183371 7122666 723539 628896 1616567 2970293 1183371 7122666 7122666 3805 33041 25025 13501 75372 7198038 5932752 0.98950 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 401669 46042 447711 428613 -12301 14643 401669 418374 4642 9852 4255 428613 418374 418374 1.00000 0 0 13455 13455 13455 DUE TO COLLEGE OF WILLIAM AND MARY 582069 HELD FOR BUILDING FUND 213581 795650 X PART III, LINE 1A: THE FOUNDATION MAINTAINS SIGNIFICANT COLLECTIONS MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE AND ART OBJECTS THAT ARE HELD FOR EDUCATIONAL, RESEARCH, AND CURATORIAL PURPOSES. EACH OF THESE ITEMS IS CATALOGUED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. IN ACCORDANCE WITH INDUSTRY STANDARDS, COLLECTION ITEMS ACQUIRED THROUGH PURCHASE OR DONATION ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENTS OF ACTIVITIES. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENTS OF ACTIVITIES BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS. PART III, LINE 4: THE MUSCARELLE MUSEUM OF ART FOUNDATION COLLECTION AUGMENTS THE MUSCARELLE MUSEUM OF ART COLLECTION. THE ORIGINS OF THE MUSCARELLE MUSEUM OF ART COLLECTION CAN BE TRACED TO 1732, WHEN THE THIRD EARL OF BURLINGTON GAVE THE COLLEGE OF WILLIAM & MARY A PORTRAIT OF THE PHYSICIST ROBERT BOYLE. SINCE THAT TIME, THE COLLECTION HAS GROWN CLOSE TO FIVE THOUSAND WORKS OF ART ENCOMPASSING A DIVERSE GROUP OF OBJECTS FROM ANTQUITY TO THE PRESENT, EASTERN AND WESTERN ART, AND EXAMPLES OF ALMOST EVERY MATERIAL AND MEDIUM. OF PARTICULARY NOTE ARE COLONIAL AMERICAN AND SEVENTEENTH AND EIGHTEENTH CENTURY ENGLISH PORTRAITS; A SURVEY COLLECTION OF ORIGINAL PRINTS AND DRAWINGS FROM THE SIXTEENTH THROUGH THE TWENTIETH CENTURIES REPRESENTING BOTH AMERICAN AND EUROPEAN ARTISTS, AS WELL AS A SELECTION OF JAPANESE PRINTS, A COLLECTION OF GERMAN EXPRESSIONIST WORKS BY HANS GROHS, AND THE JEAN OUTLAND CHRYSLER COLLECTION OF AMERICAN ABSTRACT EXPRESSIONISM INTERPRETED IN OILS, DRAWINGS, WATERCOLORS AND SCULPTURE. THE EXEMPT PURPOSES OF THE FOUNDATION ARE TO, INTER ALIA: I) TO ACCEPT, ACQUIRE, HOLD, INVEST, REINVEST, AND OTHERWISE DEAL WITH PROPERTY, BOTH REAL AND PERSONAL, TANGIBLE AND INTANGIBLE TO BE USED FOR THE BENEFIT OF THE MUSEUM; AND II) TO PROMOTE THE OBJECTIVES OF THE MUSEUM THROUGH ADVICE ABOUT ADMINISTRATION AND DEFINITION OF ITS COLLECTION AND THROUGH ACQUISITION OF WORKS OF ART. ART HELD IN THE MUSCARELLE MUSEUM OF ART FOUNDATION DIRECTLY SUPPORTS THE MISSION OF THE FOUNDATION AND OF THE MUSEUM TO FOSTER THE FULL INTEGRATION OF A DYNAMIC ART MUSEUM INTO THE LIFE AND LIBERAL ARTS MISSION OF THE COLLEGE OF WILLIAM & MARY AND TO SERVE AS A MODEL OF CURATORIAL EXCELLENCE AND A CATALYST FOR ART EXPLORATION AT THE COLLEGE AND IN THE SURROUNDING COMMUNITY. PART V, LINE 4: THE QUASI-ENDOWMENT FUNDS WILL BE USED FOR EXHIBITIONS AND TO FUND EXHIBITION RELATED COSTS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES AS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE TAX STATUTES OF THE COMMONWEALTH OF VIRGINIA. THE INTERNAL REVENUE SERVICE HAS ALSO DETERMINED THAT THE FOUNDATION IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). INCOME FROM CERTAIN ACTIVITIES, NOT DIRECTLY RELATED TO ITS TAX-EXEMPT PURPOSE, IS SUBJECT TO FEDERAL INCOME TAXES. FOR THE YEAR ENDED JUNE 30, 2017, THE FOUNDATION DID NOT HAVE ANY SIGNIFICANT INCOME FROM SUCH ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD DIRECT EXPENSES FROM SPECIAL EVENTS PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES FROM SPECIAL EVENTS COST OF GOODS SOLD WINE AND ROSES 442020 85134 356886 170932 101555 442020 85134 356886 170932 101555 272487 84399 1 0 0 0 0 0 0 0 0 0 PART I, LINE 3 RELATED ORGANIZATION ESTABLISHES COMPENSATION OF THE DIRECTOR AND CEO. THERE IS A WRITTEN EMPLOYMENT CONTRACT APPROVED BY THE BOARD OF THE RELATED ORGANIZATION. X AUCTION ITEMS - WINE 340 85134 ESTIMATED FAIR VALUE 0 1 0 PART I, LINE 33: AS STATED IN ACCOUNTING POLICIES, ART COLLECTION ITEMS ARE NOT INCLUDED IN REVENUE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND APPROVED BY MUSCARELLE MUSEUM OF ART FOUNDATION'S FINANCE AND AUDIT COMMITTEES. THE FORM IS THEN MADE AVAILABLE TO THE ENTIRE BOARD. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES MUST ANNUALLY ACKNOWLEDGE THE CONFLICT OF INTEREST POLICY AND DISCLOSE ANY CONFLICTS TO THE ENTIRE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S CEO IS PAID BY A RELATED ORGANIZATION. COMPENSATION IS DETERMINED USING COMPARABILITY DATA AND IS REVIEWED AND APPROVED BY INDEPENDENT PERSONS. THE ORGANIZATION ALSO DETERMINES COMPENSATION FOR OTHER OFFICERS USING COMPARABILITY DATA. OTHER OFFICER COMPENSATION IS REVIEWED AND APPROVED BY INDEPENDENT PERSONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. AMENDED RETURN EXPLANATION OF CHANGES: FORM 990, PART I, LINE 5: THE ORGANIZATION HAD TWO EMPLOYEES. THE ORIGINAL RETURN HAD ZERO EMPLOYEES. FORM 990, PART IV, LINE 12A - THE ORGANIZATION DID NOT OBTAIN INDEPENDENT AUDITED FINANCIAL STATEMETNS FOR THE TAX YEAR. THE ORIGINAL RETURN WAS CHECKED YES. FORM 990, PART V, LINE 1A AND 1C - THE ORGANIZATION REPORTED 15 IN BOX 3 OF FORM 1096. THE ORIGINAL RETURN HAD ZERO REPORTED ON FORM 1096. IN THE AMENDED RETURN LINE 1C IS CHECKED YES. 1C WAS NOT CHECKED IN THE ORIGINAL RETURN AS NO AMOUNT WAS ENTERED IN LINE 1A. FORM 990, PART V, LINE 2A - THE ORGANIZATION HAD TWO EMPLOYEES. THE ORIGINAL RETURN HAD ZERO EMPLOYEES REPORTED. IN THE AMENDED RETURN LINE 2B IS CHECKED YES. 2B WAS NOT CHECKED IN THE ORIGINAL RETURN AS NO AMOUNT WAS ENTERED IN LINE 2A. FORM 990, PART VIII - THE ORIGINAL RETURN WAS SUBMITTED AS IF THE FINANCIAL STATEMENTS WERE AUDITED; THUS SCHEDULE D, PART XI CONTAINED RECONCILING ITEMS. THE ORGANIZATION DID NOT OBTAIN AN AUDIT. DUE TO THIS, THE STATEMENT OF REVUENE INCLUDES THE RECONCILING ITEMS THAT WERE NOT INCLUDED IN THE ORIGINAL RETURN AS WELL AS CORRECTIONS TO REVENUE AS REPORTED. FORM 990, PART IX - THE ORIGINAL RETURN WAS SUBMITTED AS IF THE FINANCIAL STATEMENTS WERE AUDITED; THUS SCHEDULE D, PART XI CONTAINED RECONCILING ITEMS. THE ORGANIZATION DID NOT OBTAIN AN AUDIT. DUE TO THIS, THE STATEMENT OF FUNCTIONAL EXPENSES INCLUDES THE RECONCILING ITEMS THAT WERE NOT INCLUDED IN THE ORIGINAL RETURN AS WELL AS CORRECTIONS TO EXPENSES AS REPORTED. FORM 990, PART X - THE ORGANIZATION MADE ADJUSTMENTS TO BALANCE SHEET AFTER THE ORIGINAL RETURN WAS SUBMITEED. DUE TO THIS, LINES 1, 17 AND 27 CHANGED. FORM 990, PART XI - SCHEDULE CHANGED DUE TO CHANGES IN FORM 990, PARTS VIII AND IX, AS PREVIOUSLY DESCRIBED. SCHEDULE A, SECTION A, LINE 1 - DUE TO CORRECTIONS TO FORM 990, PART VIII, GIFTS, GRANTS, CONTRIBUTIONS AND MEMBERSHIP FEES CHANGED FROM THE ORIGINAL AMOUNT REPORTED. SCHEDLUE D, PARTS XI AND XII - THE ORGANIZATION DID NOT OBTAIN AUDITED FINANCIAL STATEMENTS. THE ORIGINAL RETURN COMPLETED THESE SECTIONS WITH RECONCILIATIONS. THE AMENDED RETURN DOES NOT HAVE THESE RECONCILIATIONS. SCHEDULE G, PART II, LINE 2 - DUE TO CORRECTIONS TO FORM 990, PART VIII, FUNDRAISING CONTRIBUTIONS CHANGED FROM THE ORIGINAL AMOUNT REPORTED. THE COLLEGE OF WILLIAM AND MARY 540 LANDRUM DRIVE WILLIAMSBURG VA 23185 546001718 PUBLIC COLLEGE VA 115 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 THE COLLEGE OF WILLIAM AND MARY O 582069 ACTUAL EXPENSES THE COLLEGE OF WILLIAM AND MARY Q 87747 ACTUAL EXPENSES THE COLLEGE OF WILLIAM AND MARY E 582069 BALANCE OF LOAN