2018-01-09T13:44:35-06:00 2017-06-30 521855942 Tate and Tryon 2021 L Street NW Suite 400 Washington DC 20036 990 2016-07-01 530196641 TRUSTEES OF THE CORCORAN GALLERY OF ART TRUS 7035330888 PO Box 164 Falls Church VA 22040 FREDERICK KNOPS board treasurer 7035330888 2018-01-09 1 Elizabeth Heller P00397829 2022932200 216.59.105.130 2018-01-09 13:44:33 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 8B6C6DF7A8E3B84B5AE7D1943EC3750B5C691B8F 2016 2021-01-29 14:40:06Z harry f hopper PO Box 164 Falls Church VA 22040 384063 0 X www.corcoran.org X 1869 DC THE GALLERY WAS FORMED TO ESTABLISH AN INSTITUTION IN WASHINGTON, DC DEDICATED TO ART AND USED FOR THE PURPOSE OF ENCOURAGING AMERICAN GENIUS IN THE PRODUCTION AND PRESERVATION OF WORKS PERTAINING TO THE FINE ARTS AND KINDRED OBJECTS. 6 6 0 15 0 0 265361 94941 7929 1835 2660 57061 196336 192141 472286 345978 535200 0 0 0 94763 0 0 0 0 494711 402616 1124674 402616 -652388 -56638 11330884 11331580 6915383 6648393 4415501 4683187 X THE CORCORAN CONTINUES AS A SEPARATELY INCORPORATED ENTITY DEDICATED TO ART AND ENCOURAGING AMERICAN GENIUS. AS A CONTINUING ENTITY, THE CORCORAN WILL SEEK TO SUPPORT STEWARDSHIP OF THE CORCORAN NAME AND LEGACY, TO CONSULT WITH NGA AND GW ON PROGRAMS AND INTERCONNECTED ACTIVITIES OF SUCH INSTITUTIONS, AND TO PROMOTE THE IMPORTANT ROLE OF CONTEMPORARY ART AND ARTISTS IN PROVOKING NEW THINKING AND REALIZING NEW EXCITING CULTURAL INITIATIVES. 0 0 100287 FUTURE PLANNING - ACTIVITIES RELATED TO DETERMINING THE FUTURE DIRECTION OF THE ORGANIZATION. 247911 Wind Down - Activities related to winding down the previous operations of the organization. 348198 1 1 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 0 0 0 0 0 0 1 1 0 0 0 0 X 6 6 1 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 NY X David Julyan 7035330888 105 ANNANDALE ROAD 215 FALLS CHURCH VA 22046 X Harry F Hopper Chairman 2.00 X X 0 0 0 Fred Knops Treasurer 2.00 X X 0 0 0 Molly Rolandi Secretary 2.00 X X 0 0 0 Michela English Director 2.00 X 0 0 0 Shannon Finley Director 2.00 X 0 0 0 Linda Fine Director 2.00 X 0 0 0 Debbie Feinberg Interim VP Finance 20.00 X 0 0 0 0 0 0 0 0 0 0 Julyan & Julyan 1100 G St NW 655 Washington DC 20005 Legal Services 281000 paul hastings llp 875 15th st nw 10 washington DC 20005 legal Services 134546 2 94941 94941 tuition and fees 900099 1835 1835 1835 78255 78255 192000 0 192000 192000 192000 16891 38085 -21194 -21194 -21194 MISCELLANEOUS 900099 141 141 141 345978 1835 0 249202 X 231000 200900 30100 42203 37983 4220 16891 16891 57655 55935 1720 23468 22879 589 1981 1783 198 45 45 751 751 19191 19191 7952 7326 626 HONORARIA 1100 1100 MISCELLANEOUS 379 350 29 402616 348198 54418 0 762104 409315 33413 19525 0 2924 6500000 0 6500000 6500000 4035367 4399816 11330884 11331580 25383 28393 390000 120000 6500000 6500000 6915383 6648393 X 4415501 4683187 4415501 4683187 11330884 11331580 -56638 324324 0 X X 1 X 0 1 0 X 6952654 2436011 832257 265361 94941 10581224 6952654 2436011 832257 265361 94941 10581224 5267498 5313726 836103 877180 171487 227110 270255 2382135 116668 309941 41124 10875 141 478749 13442108 39575100 0.39530 0.49740 X part II, line 10: income from activities not regularly carried on. Schedule A, Part II, Line 1: THE CORCORAN RECEIVED AN UNUSUAL GRANT OF $10,000,000 DURING THE YEAR ENDED JUNE 30, 2014. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 13215204 13215204 14071478 23472 713955 1593701 13215204 19185774 4180579 153179 9448054 14071478 4030000 4030000 2470000 2470000 6500000 Part III, Line 1a: Collection: The value of the collection has been excluded from the statements of financial position because the collection is (a) held for public exhibition, education, or research in furtherance of public service rather than financial gain; (b) are protected, kept unencumbered, cared for, and preserved; and (c) subject to an organizational policy that requires the proceeds of items that are sold to be used to acquire other items for collections. Only current year purchases and proceeds from sales are reflected in the statements of activities. The Corcoran established collection plans and a deaccessioning policy that conform to established museum standard guidelines. Included in these guidelines is a policy of the Corcoran that proceeds from the sale of any collection items are to be used to purchase additional collection items. Form 990, Part VI, Section A, line 2 Harry Hopper and Frederick Knops - business relationship Form 990, Part VI, Section A, line 3 MANAGEMENT DUTIES WERE DELEGATED TO MAXIMIZE. MAXIMIZE COMPENSATED DEBBIE FEINBERG, INTERIM VICE PRESIDENT OF FINANCE, FOR HER SERVICES FOR THE YEAR ENDED JUNE 30, 2017. HER COMPENSATION RECEIVED FOR THESE SERVICES WAS $24,000. Form 990, Part VI, Section B, line 11b A draft copy of the complete return is sent to the Finance Committee of the Board of Trustees for review. All questions and comments raised by the Committee are addressed prior to submission to the IRS. Once the 990 has been filed, the Chairman of the Finance Committee reports to the Board that the review took place and that the form has been filed. Form 990, Part VI, Section B, line 12c Board members shall not vote on, approve, or recommend any transaction in which they have an actual or potential conflict of interest. If they are present at a meeting of the Board or any Committee at which such a matter is considered, they must disqualify themselves from participating in the discussion and vote by excusing themselves from that portion of the meeting. In addition, Board members and Officers are required to complete a conflict of interest statement annually. Form 990, Part VI, Section C, line 19 All governing documents including the 990 are made available upon request. Form 990, Part IX, line 11g OTHER PROFESSIONAL SERVICES: Program service expenses 55,935. Management and general expenses 1,720. Fundraising expenses 0. Total expenses 57,655. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PREVIOUS YEAR.