2018-05-11T10:05:39-05:00 2017-12-31 824158464 DAVIS & COMPANY CPAS 990 LAKE HUNTER CIRCLE STE 207 MOUNT PLEASANT SC 29464 990 2017-01-01 203398254 INTERNATIONAL AFRICAN AMERICAN MUSEUM INTE 8438725352 113 CALHOUN STREET CHARLESTON SC 29401 WILBUR JOHNSON ESQUIRE CHAIRMAN 8438725352 2018-05-11 1 ZOE DAVIS P01057590 8438813315 2018-05-04 2017 2022-09-23 18:48:47Z WILBUR JOHNSON ESQUIRE 25 CALHOUN STREET CHARLESTON SC 29401 16626168 0 X WWW.IAAMUSEUM.ORG X 2007 SC THE IAAM WILL BE AN INTERNATIONAL CENTER OF LEARNING WHERE INDIVIDUALS, FAMILIES, AND GROUPS WILL ADVANCE THEIR UNDERSTANDING AND APPRECIATION OF AMERICAN HISTORY, PARTICULARLY THE ROLL OF AFRICAN AMERICANS IN CREATING THE COUNTRY AND WORLD WE KNOW TODAY. 28 28 4 32 0 0 2597259 16619980 0 0 1862 6188 0 0 2599121 16626168 0 0 0 0 310334 321081 15000 399950 573503 249420 752011 574754 1473042 2024367 15153126 5910792 21861677 22439 4739525 5888353 17122152 THE IAAM WILL BE AN INTERNATIONAL CENTER OF LEARNING WHERE INDIVIDUALS, FAMILIES, AND GROUPS WILL ADVANCE THEIR UNDERSTANDING AND APPRECIATION OF AMERICAN HISTORY, PARTICULARLY THE ROLE OF AFRICAN AMERICANS IN CREATING THE COUNTRY AND WORLD WE KNOW TODAY. 0 0 695368 TO DEVELOP, OPERATE AND PROMOTE A MUSEUM WHERE RESIDENTS AND VISITORS CAN LEARN ABOUT THE ROLE OF AFRICAN AMERICANS IN THE MAKING OF THE MODERN WORLD, ESPECIALLY THROUGH THE EXPERIENCES OF SOUTH CAROLINA. 695368 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 1 4 1 0 0 0 0 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 SC X THE ORGANIZATION 8438725352 113 CALHOUN STREET CHARLESTON SC 29401 WILBUR E JOHNSON ESQUIRE CHAIRPERSON 10.00 X X 0 0 0 WILLIAM KENNARD TREASURER 3.00 X X 0 0 0 MELISSA LINDER SECRETARY 3.00 X X 0 0 0 BILL BARNETT BOARD MEMBER 1.00 X 0 0 0 MAYOR STEVE BENJAMIN BOARD MEMBER 1.00 X 0 0 0 PEG BREEN BOARD MEMBER 1.00 X 0 0 0 EVELYN MCGEE COLBERT BOARD MEMBER 1.00 X 0 0 0 WALTER EDGAR BOARD MEMBER 1.00 X 0 0 0 DICK ELLIOT ESQUIRE BOARD MEMBER 1.00 X 0 0 0 MIKE GIANONI BOARD MEMBER 1.00 X 0 0 0 JONATHAN GREEN BOARD MEMBER 1.00 X 0 0 0 CAROLYN HUNTER BOARD MEMBER 1.00 X 0 0 0 SHEILA JOHNSON BOARD MEMBER 1.00 X 0 0 0 PAM LACKEY BOARD MEMBER 1.00 X 0 0 0 ERWIN MADDREY BOARD MEMBER 1.00 X 0 0 0 RON MCCRAY BOARD MEMBER 1.00 X 0 0 0 REGGIE MCKNIGHT BOARD MEMBER 1.00 X 0 0 0 BERNIE POWERS BOARD MEMBER 1.00 X 0 0 0 JOSEPH P RILEY JR BOARD MEMBER 1.00 X 0 0 0 KITTY ROBINSON BOARD MEMBER 1.00 X 0 0 0 RITA SCOTT BOARD MEMBER 1.00 X 0 0 0 MINOR MICKEL SHAW BOARD MEMBER 1.00 X 0 0 0 MARVA SMALLS BOARD MEMBER 1.00 X 0 0 0 HENRY SMYTHE ESQUIRE BOARD MEMBER 1.00 X 0 0 0 MAYOR JOHN TECKLENBURG BOARD MEMBER 1.00 X 0 0 0 ANTONIO D TILLIS BOARD MEMBER 1.00 X 0 0 0 COUNCILMAN KEITH WARING BOARD MEMBER 1.00 X 0 0 0 LUCILLE WHIPPER BOARD MEMBER 1.00 X 0 0 0 MICHAEL BOULWARE MOORE BOARD MEMBER, CEO & PRESIDENT 50.00 X X 177643 0 0 177643 0 0 1 0 1 0 BOOMY LLC 428 RACE STREET APT B CHARLESTON SC 29403 FUNDRAISING 102049 1 300000 16319980 16619980 6188 6188 16626168 0 0 6188 177643 138636 21581 17426 104291 81391 12670 10230 22229 17179 2935 2115 16918 13661 1753 1504 399950 399950 108345 83750 24595 58500 58500 15768 1863 13534 371 11702 9958 1000 744 109632 21927 65779 21926 79729 24899 48604 6226 271 271 3459 1500 1500 459 1992 996 996 PLANNING AND DESIGN COS 200000 200000 BAD DEBT EXPENSE 94123 94123 COMMUNITY RELATIONS 19485 19485 DUES AND SUBSCRIPTIONS 14111 4111 5000 5000 34894 17512 3953 13429 1473042 695368 204171 573503 3215146 3728 15648998 2675905 5700254 14142 25124 22025 7254 5599 14771 468802 5910792 21861677 22439 295380 444145 0 4000000 22439 4739525 X 790053 270858 5098300 16851294 5888353 17122152 5910792 21861677 X 15153126 80673 -4000000 X X 0 1 X 1 0 X 193943 408337 3648010 2594204 16619980 23464474 12251 77000 89251 193943 408337 3648010 2606455 16696980 23553725 11812550 11741175 106 83 299 1862 6188 8538 23562263 0.49830 0.64760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22025 7254 14771 14771 FUNDS HELD FOR TRANSFER 4000000 4000000 X 16706841 80673 80673 16626168 0 16626168 1473042 0 1473042 0 1473042 PART X, LINE 2: US GAAP REQUIRES MANAGEMENT TO EVALUATE INCOME TAX POSITIONS TAKEN BY THE ORGANIZATION AND TO RECOGNIZE AN INCOME TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUBSTANTIATED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS"). THE ORGANIZATION HAS IDENTIFIED ITS INCOME TAX STATUS AS A TAX-EXEMPT ENTITY AS ITS ONLY SIGNIFICANT INCOME TAX POSITION; HOWEVER, THE ORGANIZATION HAS DETERMINED THAT SUCH INCOME TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. SCHEDULE D, PART X, LINE 1 DURING THE YEAR ENDED DECEMBER 31, 2017 THE MUSEUM RECEIVED $4,000,000 FROM A DONOR TO SET UP A PERMANENT ENDOWMENT FUND. ON DECEMBER 18, 2017, THE EXECUTIVE COMMITTEE OF THE BOARD VOTED TO TRANSFER THESE FUNDS TO THE COASTAL COMMUNITY FOUNDATION TO SET UP THE INTERNATIONAL AFRICAN AMERICAN MUSEUM ENDOWMENT FUND. THESE PROCEEDS REPRESENT THE BEGINNING CORPUS OF THE FUND. THE AGREEMENT WITH THE COASTAL COMMUNITY FOUNDATION WAS SIGNED ON JANUARY 9, 2018 AND THE BEGINNING CORPUS FUNDS WERE TRANSFERRED ON JANUARY 10, 2018. X X X X X X X 1 BOOMY LLC 428 RACE STREET APT B CHARLESTON SC 29403 CAPITAL CAMPAIGN FOR NEW BUILDING 1 16319930 399950 15919980 16319930 399950 15919980 SC 1 X X X X 0 0 0 0 0 0 0 0 0 MICHAEL BOULWARE MOORE BOARD MEMBER, CEO & PRESIDENT 177643 0 0 0 0 0 0 0 0 0 177643 0 0 0 PART I, LINE 3 THE IAAM CEO COMPENSATION WAS DETERMINED THROUGH THE EXECUTIVE COMMITTEE'S SURVEY AND REVIEW OF THE SALARIES OF CEOS OF RELATIVELY COMPARABLE INSTITUTIONS IN THE LOCAL AREA, SUCH AS THE CHARLESTON MUSEUM, THE GIBBES, THE AQUARIUM, HISTORIC CHARLESTON FOUNDATION, THE COASTAL COMMUNITY FOUNDATION, ETC. ALONG WITH A REVIEW OF CEO COMPENSATION OF THOSE ENTITIES, THE EXECUTIVE COMMITTEE TOOK INTO ACCOUNT THE RELATIVE DUTIES OF THE CEOS, CONSIDERING SUCH MATTERS AS FUNDRAISING RESPONSIBILITY, MANAGEMENT SUPPORT FOR THE CEOS, STAFF CURRENTLY UNDER MANAGEMENT, PROJECTED STAFF UNDER MANAGEMENT AND UNIQUE CHALLENGES (E.G. RESPONSIBILITY FOR OVERSIGHT OF BUILDING DESIGN AND CONSTRUCTION, AND PROGRAMMING; RESPONSIBILITY FOR PARTNERSHIP WITH THE CITY STAFF; PUBLIC ENGAGEMENT). ALL OF THESE CONSIDERATIONS DROVE THE ANALYSIS OF IAAM CEO COMPENSATION IN 2017 AND ARE EXPECTED TO CONTINUE TO DRIVE THE ANALYSIS OF IAAM CEO COMPENSATION FOR THE FORESEEABLE FUTURE. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 WILL BE REVIEWED BY THE BOARD OF THE INTERNATIONAL AFRICAN AMERICAN MUSEUM. ANY CHANGES WILL BE MADE BEFORE FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C EACH SERVING DIRECTOR SHALL SIGN A STATEMENT AS TO THE MUSEUM'S CONFLICTS OF INTEREST POLICY WHEN COMMENCING SERVICE ON THE BOARD AND ANNUALLY THEREAFTER. FORM 990, PART VI, SECTION B, LINE 15A THE IAAM CEO COMPENSATION WAS DETERMINED THROUGH THE EXECUTIVE COMMITTEE'S SURVEY AND REVIEW OF THE SALARIES OF CEOS OF RELATIVELY COMPARABLE INSTITUTIONS IN THE LOCAL AREA, SUCH AS THE CHARLESTON MUSEUM, THE GIBBES, THE AQUARIUM, HISTORIC CHARLESTON FOUNDATION, THE COASTAL COMMUNITY FOUNDATION, ETC. ALONG WITH A REVIEW OF CEO COMPENSATION OF THOSE ENTITIES, THE EXECUTIVE COMMITTEE TOOK INTO ACCOUNT THE RELATIVE DUTIES OF THE CEOS, CONSIDERING SUCH MATTERS AS FUNDRAISING RESPONSIBILITY, MANAGEMENT SUPPORT FOR THE CEOS, STAFF CURRENTLY UNDER MANAGEMENT, PROJECTED STAFF UNDER MANAGEMENT AND UNIQUE CHALLENGES (E.G. RESPONSIBILITY FOR OVERSIGHT OF BUILDING DESIGN AND CONSTRUCTION, AND PROGRAMMING; RESPONSIBILITY FOR PARTNERSHIP WITH THE CITY STAFF; PUBLIC ENGAGEMENT). ALL OF THESE CONSIDERATIONS DROVE THE ANALYSIS OF IAAM CEO COMPENSATION IN 2017 AND ARE EXPECTED TO CONTINUE TO DRIVE THE ANALYSIS OF IAAM CEO COMPENSATION FOR THE FORESEEABLE FUTURE. FORM 990, PART VI, SECTION C, LINE 19 THE INTERNATIONAL AFRICAN AMERICAN MUSEUM HONORS THE REQUIREMENTS OF THE LAW GOVERNING REQUEST FOR SUCH DOCUMENTS FROM THE PUBLIC AND FEDERAL AND STATE AGENCIES. FORM 990, PART XI, LINE 9: TRANSFER OF PERMANENT ENDOWMENT FUNDS -4,000,000. THE IAAM HAS MOVED FROM THE MODIFIED CASH METHOD TO THE ACCRUAL METHOD OF ACCOUNTING. THE CHANGE WAS MADE TO ALIGN WITH EXTERNAL REPORTING INCLUDING THE AUDITED FINANCIAL STATEMENTS PREPARED UNDER THE U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. FORM 990, LINE 2C THERE HAS BEEN NO CHANGE FROM THE PRIOR YEAR.