2018-05-14T14:08:21-05:00 2017-06-30 560747981 DIXON HUGHES GOODMAN LLP 701 TOWN CENTER DRIVE SUITE 700 NEWPORT NEWS VA 236064295 990 2016-07-01 461110899 MUSCARELLE MUSEUM OF ART FOUNDATION MUSC 7572212717 PO BOX 8795 WILLIAMSBURG VA 23187 AARON H DE GROFT EXECUTIVE DIRECTOR 7572212717 2018-05-14 1 LESLIE F ROBERTS P00040492 7578731033 2018-05-14 4.16.67.16 2018-05-14 13:38:55 ED P D48672C31E75143E4FADF3756485910B10744D11 002FEC3BE28171601C60C618263094234A977EA7 2016 2021-01-29 14:40:06Z AARON H DE GROFT PO BOX 8795 WILLIAMSBURG VA 23187 2593431 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 1 130 0 0 3123390 1183371 1017842 1233668 14184 586 -117929 -114400 4037487 2303225 0 0 0 0 475021 453973 0 0 10672 1680715 1968854 2155736 2422827 1881751 -119602 3690297 4064595 399251 846337 3291046 3218258 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 1 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 331385 716762 85134 1183371 EXHIBIT RENT 900099 950000 950000 ADMISSION FEES 900099 283668 283668 1233668 586 586 12915 0 12915 12915 12915 110636 331385 272487 -161851 -161851 52255 17719 34536 34536 2303225 1268204 0 -148350 130551 47134 83417 323422 279208 44214 19116 19116 1004 1004 62307 44942 17365 214638 154015 60623 55630 20267 35363 466305 460867 5438 113176 8949 93555 10672 7017 7017 Freight & Delivery 640197 640197 ART ACQUISITIONS AND CO 231993 231993 EVENTS 156699 122575 34124 REPAIRS AND MAINTENANCE 772 550 222 2422827 2010697 401458 10672 488953 916949 835818 1072292 1889015 1560208 39688 50000 21699 3980 13455 0 13455 13455 401669 447711 3690297 4064595 40228 264268 359023 582069 399251 846337 X 357404 3218258 2933642 0 3291046 3218258 3690297 4064595 -119602 46814 0 X X 0 0 1 0 X 1176178 628896 1616567 2970293 1183371 7575305 1176178 628896 1616567 2970293 1183371 7575305 7575305 3805 33041 25025 13501 75372 7650677 5932752 0.99010 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 582069 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 442021 331385 110636 170932 101555 442021 331385 110636 170932 101555 272487 -161851 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 53 0 ESTIMATED FAIR VALUE 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. Form 990, Part XII, Line 2c: The process has not changed from the prior year. 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