2018-02-14T15:29:29-06:00 2017-06-30 PricewaterhouseCoopers LLP 600 13TH ST NW STE 1000 WASHINGTON DC 20005 990 2016-07-01 131624086 METROPOLITAN MUSEUM OF ART % CONTROLLER'S OFFICE METR 2128795500 1000 FIFTH AVENUE NEW YORK NY 100280198 JAMESON KELLEHER VP, CFO & TREASURER 2125703794 2018-02-13 true TRAVIS L PATTON P00369623 2024141000 155.201.188.32 13049920180455000058 2018-02-14 P 9836F21211F783457B1CAAE389E510E1D47B5978 D2E6DAE59E3B0B57B6BC21A6D01EA3FF17D18519 2016 2021-01-29 14:40:06Z Daniel Weiss 1000 FIFTH AVENUE NEW YORK NY 100280198 1205931798 false X WWW.METMUSEUM.ORG X 1870 NY THE METROPOLITAN MUSEUM OF ART COLLECTS, STUDIES, CONSERVES, AND PRESENTS SIGNIFICANT WORKS OF ART ACROSS ALL TIMES AND CULTURES; SEE SCHEDULE O FOR MORE DETAILS 46 42 2576 1317 -12352499 0 259945100 312492656 6854264 6836283 128264775 210276410 29945843 44147326 425009982 573752675 2292316 3443793 0 0 203675718 205908994 206313 192435 12813144 259701033 220278456 465875380 429823678 -40865398 143928997 3828721524 4183398721 792896789 749102705 3035824735 3434296016 X THE METROPOLITAN MUSEUM OF ART COLLECTS, STUDIES, CONSERVES, AND PRESENTS SIGNIFICANT WORKS OF ART ACROSS ALL TIMES AND CULTURES IN ORDER TO CONNECT PEOPLE TO CREATIVITY, KNOWLEDGE, AND IDEAS. false false 168735051 3443793 5459870 CURATORIAL DEPARTMENTS, INCLUDING OPERATION OF THE CLOISTERS OPERATIONS OF BREUER, CONSERVATION, CATALOGUING AND SCHOLARLY PUBLICATIONS (INCLUDES FELLOWSHIP AWARDS AND TRAVEL STIPENDS IN THE AMOUNT OF $3,443,793)- SEE SCHEDULE O FOR MORE INFORMATION 68644058 0 0 GUARDIANSHIP AND MAINTENANCE OF THE MUSEUM AND ITS ART COLLECTION - SEE SCHEDULE O FOR MORE INFORMATION 25506598 0 13407462 ACQUISITIONS AND SALES OF ART - SEE SCHEDULE O FOR MORE INFORMATION 23308801 OPERATION OF RESTAURANTS 14687093 SPECIAL EXHIBITIONS 14329791 EDUCATION AND LIBRARIES 7481989 OPERATING SERVICES 10477114 30250 COMMUNICATIONS 6241809 MEMBERSHIP 3208113 1346163 OPERATION OF AUDITORIUM 1435616 OPERATION OF PARKING GARAGE 825907 CORPORATE EVENTS & FUNDRAISING 3435873 2263613 RETAIL Operations 84606199 4465933 347491906 true true false true false false false true false true true true false false true false true false false false true false true true true false false false true true true false false false false false false false false false true true true false false false true false false false true 906 0 true 2576 true true true true EG false false false true true false false false false X 46 42 true false true false false false false true true false false true true true true true true true true false AL AR CA CO CT FL GA HI IL KS KY MD MA MI MN MS MO NH NJ NM OH OR PA RI SC TN UT VA WV WI X X CONTROLLER'S OFFICE 2128795500 1000 FIFTH AVENUE NEW YORK NY 100280198 X DANIEL BRODSKY ELECTIVE TRUSTEE & CHAIRMAN 5.0 0.0 X X 0 0 0 RUSSELL L CARSON ELECTIVE TRUSTEE & VICE CHAIR 2.0 0.0 X X 0 0 0 RICHARD L CHILTON JR ELECTIVE TRUSTEE & VICE CHAIR 2.0 0.0 X X 0 0 0 LULU C WANG ELECTIVE TRUSTEE & VICE CHAIR 2.0 0.0 X X 0 0 0 CANDACE K BEINECKE ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 MERRYL H TISCH ELECTIVE TRUSTEE FROM 9/2016 1.0 0.0 X 0 0 0 WELLINGTON Z CHEN ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 MARK FISCH ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 MARINA KELLEN FRENCH ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 JEFFREY W GREENBERG ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 CHARLES N ATKINS ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 J TOMILSON HILL ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 BONNIE B HIMMELMAN ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 PHILIP H ISLES ELECTIVE TRUSTEE to 9/16 1.0 0.0 X 0 0 0 HAMILTON E JAMES ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 DEBRA BLACK ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 STEPHEN M CUTLER ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 DASHA ZHUKOVA ELECTIVE TRUSTEE FROM 9/2016 1.0 0.0 X 0 0 0 BIJAN MOSSAVAR-RAHMANI ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 JEFFREY M PEEK ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 BLAIR EFFRON ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 JOHN PAULSON ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 SAMANTHA BOARDMAN ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 SIR PAUL RUDDOCK ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM C RUDIN ELECTIVE TRUSTEE to 9/16 1.0 0.0 X 0 0 0 BONNIE J SACERDOTE ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 ALEJANDRO SANTO DOMINGO ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 ANDREW M SAUL ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 JAMES E SHIPP ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 ANDREW SOLOMON ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 ANN G TENENBAUM ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 BEATRICE STERN ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 BARRIE A WIGMORE ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 ANNA WINTOUR ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 JAMES BREYER ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 CAROLINE DIAMOND HARRISON ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 HOWARD MARKS ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 N ANTHONY COLES ELECTIVE TRUSTEE 2.0 0.0 X 0 0 0 ALVARO SAIEH ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 COLVIN GRANNUM ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 PHILIP F MARITZ ELECTIVE TRUSTEE 1.0 0.0 X 0 0 0 BILL DE BLASIO EX-OFFICIO TRUSTEE 1.0 0.0 X 0 0 0 MELISSA MARK-VIVERITO EX-OFFICIO TRUSTEE 1.0 0.0 X 0 0 0 MITCHELL J SILVER EX-OFFICIO TRUSTEE 1.0 0.0 X 0 0 0 TOM FINKELPEARL EX-OFFICIO TRUSTEE 1.0 0.0 X 0 0 0 SCOTT STRINGER EX-OFFICIO TRUSTEE 1.0 0.0 X 0 0 0 THOMAS P CAMPBELL DIR TO 7/17,EX-OFFICIO TRUSTEE 35.0 0.0 X 1067096 0 359670 DANIEL H WEISS PRES&CEO FROM 6/17; EX-OF TRUS 35.0 0.0 X 842002 0 59669 CLYDE B JONES III SVP INST. ADVANCEMENT 35.0 0.0 X 472440 0 46673 CARRIE R BARRATT DEPUTY DIR COLLECTIONS/ADMIN. 35.0 0.0 X 358499 0 59009 QUINCY K HOUGHTON ASSOC DIR OF EXHIB FROM 8/16 35.0 0.0 X 141159 0 25877 SHARON H COTT SVP, SEC & GEN COUNSEL 35.0 0.0 X 436152 0 58961 JAMESON KELLEHER VP, CFO & TREASURER FROM 9/16 35.0 0.0 X 293810 0 58286 TOM JAVITS VP CONSTRUCTION & FACILITIES 35.0 0.0 X 360135 0 58628 WILL MANZER VP&GNL MGR MERCH&RET FROM 9/16 35.0 0.0 X 97309 0 8846 DEBRA A MCDOWELL VP HUMAN RESOURCES TO 10/17 35.0 0.0 X 316473 0 46395 ELYSE TOPALIAN VP FOR COMMUNICATIONS TO 6/17 35.0 0.0 X 254405 0 57332 SUZANNE E BRENNER SVP & CHIEF INVESTMENT OFFICER 35.0 0.0 X 1081250 0 229903 LAUREN A MESERVE CHIEF INVESTMENT OFFICER 35.0 0.0 X 1006994 0 207515 JEFFREY SPAR VP TECH & CHIEF TECH OFFICER 35.0 0.0 X 352827 0 58997 KENNETH N WEINE VP & CCO FROM 1/17 35.0 0.0 X 0 0 0 BARBARA D BOEHM Sr Curator for the Cloisters 35.0 0.0 X 883575 0 44966 KEN M WEINSTEIN GM Merch Fin,Ops,Sys to 8/16 35.0 0.0 X 463566 0 47206 SREE SREENIVASAN CHIEF DIGITAL OFFICER TO 6/16 35.0 0.0 X 356095 0 38533 STEPHEN A MANZI CHIEF DEVELOP OFFICER INDIV 35.0 0.0 X 290783 0 58678 KEITH R CHRISTIANSEN CHAIRMAN, EUROPEAN PAINTINGS 35.0 0.0 X 288623 0 58414 OLENA M PASLAWSKY FMR. SVP, CFO & TREAS TO 6/16 35.0 0.0 X 788153 0 42594 JENNIFER RUSSELL FMR.ASSOC DIR OF EXHIB TO 6/16 35.0 0.0 X 222378 0 29688 NINA MCN DIEFENBACH FMR. VP DEVEL & MEMBER TO 6/16 35.0 0.0 X 223795 0 42489 JO PROSSER FMR. VP MERCH & RETAIL to 4/16 35.0 0.0 X 363601 0 20978 CYNTHIA ROUND FMR.SVP,MKTNG&EXT RELS TO 6/16 35.0 0.0 X 467185 0 49049 11428305 0 1768356 316 true true false BEYER BLINDER BELLE ARCHITECTSPLAN 120 BROADWAY NEW YORK NY 10271 ARCHITECTURAL SVCS 7071325 RC DOLNER LLC 307 5TH AVE 3RD FLOOR NEW YORK NY 10016 CONSTRUCTION MANAGER 3649181 MASTERPIECE INTERNATIONAL 39 BROADWAY NEW YORK NY 10006 CUSTOMHOUSE BROKERS 1967836 RAUL AVILA INC 20 W 22ND ST STE 1012 NEW YORK NY 10010 DESIGN CONSULTANT 1781512 PRICEWATERHOUSECOOPERS LLP PO BOX 7247-8001 PHILADELPHIA PA 191708001 PROFESSIONAL FEES 1313167 51 27461815 19143189 16839947 249047705 18334993 312492656 EDUCATIONAL PRGMS, CONCERTS & LECTURES 532000 6806033 5603340 1202693 PHOTO RENTALS & FILM FEES 532000 30250 30250 6836283 21706888 -17654525 39361413 0 51579 51579 0 0 0 761436405 572866882 188569523 188569522 188569522 978844 19143189 5862816 -4883972 -4883972 0 0 0 56032589 53449425 2583164 2263613 319551 CORPORATE EVENTS 722320 2872556 825907 2046649 PARKING GARAGE 812930 2568318 2568318 RESTAURANT 722511 27548219 1702883 25845336 13407462 13407462 46396555 573752675 22100322 -12352499 251512196 0 3325043 3325043 118750 118750 0 8867297 3798371 4571904 497022 0 128710033 104229687 18973379 5506967 21681342 18323435 2683015 674892 37111574 31869124 4067918 1174532 9538748 8224140 1011170 303438 0 1833180 205428 1627752 843602 843602 88232 88232 192435 192435 18181635 18181635 11986080 7318837 3575922 1091321 6335653 5916866 2000 416787 38721858 34262210 2383314 2076334 1737523 661954 893870 181699 3152 3152 5776655 5776655 2821952 2626750 90746 104456 0 387555 307552 56020 23983 12264166 11039662 1224504 0 53663140 46012252 7508466 142422 2315941 1615639 700302 Purchases of Art 25506598 25506598 RESTAURANT SERVICES&SUPPLIES 25951452 25950652 800 REPAIRS & MAINTENANCE 5263144 5223481 39663 CATERING SERVICES 3129617 2389856 432412 307349 3467321 2697580 650234 119507 429823678 347491906 69518628 12813144 7237908 53777494 0 0 144519181 202602890 12685488 10729116 0 0 0 0 0 0 9711431 7113639 10830587 9912363 1115255443 721793092 414076769 393462351 2399037345 2604459356 760492215 829025594 0 0 0 0 70130600 72315918 3828721524 4183398721 83065990 75662875 0 0 5372877 5328692 185497941 171422365 0 0 0 0 22522000 21675000 248618472 248666806 247819509 226346967 792896789 749102705 X 687449710 839340568 1388377528 1535971088 959997497 1058984360 3035824735 3434296016 3828721524 4183398721 X 143928997 178731218 75811066 X false true X true false X 310234475 294489131 255926608 259945100 312492656 1433087970 0 16025751 15278239 16715169 17715465 14667793 80402417 326260226 309767370 272641777 277660565 327160449 1513490387 91043871 1422446516 47256240 49728101 43474530 38288913 39412992 218160776 3983699 10402549 14386248 0 1746037411 409328920 0.81467 0.80832 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19448 323014 342462 488793457 489135919 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 259178 333119 339239 342462 1273998 250000 250000 250000 250000 1000000 1500000 16819 18573 18989 19448 73829 X X X X false 2523689299 106501247 388580757 2998554 122377612 2893395137 2700466038 20417352 -26064305 3149811 167979975 2523689299 2656291524 55893860 131623264 2949425 140393185 2700466038 2371491241 38131683 384102896 2940410 134493886 2656291524 2181791580 28030302 301511700 2502016 137340325 2371491241 0.29545 0.36600 0.33854 false false 1015000 1015000 41643852 28000605 13643247 1006613512 639201417 367412095 65983079 54591070 11392009 0 0 0 393462351 PRIVATE EQUITY 427941297 F REAL ASSETS 401084297 F 829025594 0 ANNUITY & SPLIT-INT OBLIGS. 18587587 PENSION AND OTHER ACCRUED RTRM 207759380 226346967 569163705 178731218 14721268 193452486 375711219 198041456 198041456 573752675 395420684 74033704 74033704 321386980 108436698 108436698 429823678 SCHEDULE D, PART III, LINE 1A SFAS 116 FOOTNOTE IN CONFORMITY WITH ACCOUNTING POLICIES GENERALLY FOLLOWED BY ART MUSEUMS, THE VALUE OF THE MUSEUM'S COLLECTIONS HAS BEEN EXCLUDED FROM THE STATEMENT OF FINANCIAL POSITION, AND GIFTS OF ART OBJECTS ARE EXCLUDED FROM REVENUE IN THE STATEMENT OF ACTIVITIES. PURCHASES OF ART OBJECTS BY THE MUSEUM ARE RECORDED AS DECREASES IN NET ASSETS IN THE STATEMENT OF ACTIVITIES. PURSUANT TO STATE LAW AND MUSEUM POLICY, PROCEEDS FROM THE SALE OF ART AND RELATED INSURANCE SETTLEMENTS ARE RECORDED AS TEMPORARILY RESTRICTED NET ASSETS FOR THE ACQUISITION OF ART. SCHEDULE D, PART III, LINE 4 DESCRIPTION OF ORGANIZATION'S COLLECTIONS & FURTHERANCE OF EXEMPT PURPOSE THE MUSEUM'S WORLD-CLASS ART COLLECTION SPANS THE GLOBE AND RANGES IN DATE FROM ANCIENT TO CONTEMPORARY ART. THEY OFFER A SURVEY OF CONSIDERABLE BREADTH OF ART FROM THE ANCIENT CIVILIZATIONS OF ASIA, AFRICA, SOUTH AMERICA, THE PACIFIC ISLANDS, EGYPT, THE NEAR EAST, AND GREECE AND ROME TO THE PRESENT TIME. THE MUSEUM'S COLLECTIONS INCLUDE EUROPEAN PAINTINGS, MEDIEVAL ART AND ARCHITECTURE, ARMS AND ARMOR, PRINTS, PHOTOGRAPHS, DRAWINGS, COSTUMES, MUSICAL INSTRUMENTS, SCULPTURE, TEXTILES, AND DECORATIVE ARTS FROM THE RENAISSANCE TO THE PRESENT TIME, AS WELL AS ONE OF THE FOREMOST COLLECTIONS OF AMERICAN ART IN THE WORLD. THE MUSEUM ALSO MAINTAINS SOME OF THE MOST COMPREHENSIVE ART AND ARCHITECTURE LIBRARIES IN THE UNITED STATES. THE COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN FURTHERANCE OF PUBLIC SERVICE, RATHER THAN FOR FINANCIAL GAIN. SCHEDULE D, PART V, LINE 3A & 4 INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS: THE MUSEUM'S ENDOWMENT FUNDS ARE INTENDED TO SUPPORT EDUCATIONAL PROGRAMS, SCHOLARLY RESEARCH AND PUBLICATIONS, ACQUISITIONS OF WORKS OF ART, CONSERVATION OF WORKS OF ART, SPECIAL EXHIBITS OF INTEREST TO THE PUBLIC, MAINTENANCE AND EXPANSION OF GALLERIES, AND GENERAL OPERATING SUPPORT FOR MUSEUM EXPENSES. SCHEDULE D, PART XI, LINE 1 AUDITED FINANCIAL STATEMENTS INCLUDE $389,911,115 FROM OPERATING ACTIVITIES AND $179,252,590 FROM NON-OPERATING ACTIVITIES FOR REVENUE, GAINS AND OTHER SUPPORT. TOTAL PART XI, LINE 1 $569,163,705. SCHEDULE D, PART XI, LINE 2D RECONCILING ITEMS FOR REVENUE INCLUDE THE FOLLOWING: ADVERTISTING GIFTS-IN-KIND 53,475 FEDERAL INDEMNIFICATION 1,131,557 UTILITIES PROVIDED BY THE CITY OF NEW YORK 13,536,236 ---------- TOTAL 14,721,268 SCHEDULE D, PART XI, LINE 4B RECONCILING ITEMS FOR REVENUE INCLUDE THE FOLLOWING: MANAGEMENT FEES AND OTHER INVESTMENT EXPENSES 17,821,049 EXCESS INVESTMENT RETURN 241,690,322 COST OF SALES (53,449,425) FUNDRAISING EVENTS (5,862,816) PROCEEDS FROM SALE OF ART 13,407,462 2015 BOND PROCEEDS 196,790 CORPORATE SPECIAL EVENTS 1,004,386 MUSEUM LOANS 888,213 PARTNERSHIP UBIT (17,654,525) ----------- TOTAL 198,041,456 SCHEDULE D, PART XII, LINE 2D RECONCILING ITEMS FOR EXPENSES INCLUDE THE FOLLOWING: COST OF SALES 53,449,425 FUNDRAISING EVENTS 5,862,816 ADVERTISING GIFTS-IN-KIND 53,475 FEDERAL INDEMNIFICATION 1,131,557 UTILITIES PROVIDED BY THE CITY OF NEW YORK 13,536,431 ----------- TOTAL 74,033,704 SCHEDULE D, PART XII, LINE 4B RECONCILING ITEMS FOR EXPENSES INCLUDE THE FOLLOWING: DEPRECIATION AND MISCELLANEOUS NON-CAPITAL EXPENSES 50,700,122 PURCHASES OF ART 25,506,598 MANAGEMENT FEES AND OTHER INVESTMENT INCOME 17,821,049 INVESTMENT EXPENSES ON THE SERIES 2015 BOND 360,585 CORPORATE SPECIAL EVENTS 1,004,386 MUSEUM LOANS 888,213 EFFECT OF INTEREST RATE SWAP 12,155,745 ------------- TOTAL 108,436,698 true Europe (Including Iceland and Greenland) Grantmaking T. Rousseau Fellowship 118750 Europe (Including Iceland and Greenland) Program Services RESEARCH & EXHIBITIONS 737440 Sub-Saharan Africa Program Services RESEARCH & EXHIBITIONS 1673 East Asia and the Pacific Program Services RESEARCH & EXHIBITIONS 125936 South Asia Program Services RESEARCH & EXHIBITIONS 94410 South America Program Services RESEARCH & EXHIBITIONS 12826 Middle East and North Africa Program Services RESEARCH & EXHIBITIONS 6269 North America Program Services RESEARCH & EXHIBITIONS 36903 South Asia Program Services RESEARCH & EXHIBITIONS 59619 Russia and the Newly Independent States Program Services RESEARCH & EXHIBITIONS 1059 Central America and the Caribbean Investments 704841016 Europe (Including Iceland and Greenland) Investments 40900242 North America Investments 15991676 762927819 762927819 T. Rousseau Fellowship Europe (Including Iceland and Greenland) 3 118750 CHECK N/A N/A true false true true true false MONITORING PROCEDURES- FORM 990, SCHEDULE F, PART I, LINE 2 The Museum awards grants, educational travel stipends and fellowships on an objective and nondiscriminatory basis. A Grants Committee, comprised of Museum curators, conservators, educators, scientists and librarians make selections based upon competitive written applications. The purpose of the grants is to provide an opportunity for the grantees to conduct research, extend their professional knowledge and contribute to their respective fields at large. To the best of the Museum's knowledge none of the recipients of the grants or fellowships are related to any person such as a trustee, an officer, or a key person of the Museum. Every grantee is assigned a specific supervisor at the start of their fellowship period. The supervisor is either a curator, conservator or scientist from the department hosting the individual scholar. The scholar and supervisor are in contact throughout the year and discuss all of the details of the grantee's research work. In addition, the Academic and Professional Programs Office, which is responsible for all of the fellows, requires periodic updates on the individuals' research. X X X X X X X true DONOR SERVICES GROUP 1200 Wilshire Boulevard Suite 650 Los Angeles CA 90017 TELE- MARKETING false 380262 190159 190103 380262 190159 190103 AL AK AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI Costume Institu 12232687 11816187 416500 3859159 Acquisitions Be 2231496 2167836 63660 331850 12 5657850 5159166 498684 1671807 20122033 19143189 978844 5862816 5862816 -4883972 SCHEDULE G, PART I, Line 2B The Membership department contracted telemarketing firm Donor Services Group (DSG), to facilitate campaigns directed at current and lapsed Members of The Met throughout fiscal 2017. DSG callers referred to a script, preapproved by the Membership Department, when soliciting Members by phone, with a revised script implemented in June of FY17 in conjunction with the Membership recast. In fiscal 2017; 20,143 current Members were contacted by DSG requesting a contribution to the Membership Annual Appeal; 47,225 current Members were contacted by DSG prior to expiration with Membership renewal requests; 52,522 lapsed Members were contacted by DSG after expiration with a request to renew their Membership. SCHEDULE G, PART II, LINE 11 AND FORM 990, PART VIII, LINE 8 NOTE THAT THE $ 4,883,972 LOSS ON FORM 990, PART VIII, LINE 8(C) EXCLUDES THE $19,143,189 OF CONTRIBUTIONS WHICH IF INCLUDED, WOULD RESULT IN A NET SURPLUS OF $14.3 MILLION. true The Bothmer Fellowship 1 39583 N/A N/A Sylvan C. and Pam Coleman Memorial Fellowship 7 180083 N/A N/A Chester Dale Fellowship 8 165813 N/A N/A Annette de la Renta Fellowship 3 44833 N/A N/A The Douglass Foundation Fellowship 1 42791 N/A N/A Sherman Fairchild Foundation Fellowship 3 49833 N/A N/A Andrew W. Mellon Art History Fellowship 12 284042 N/A N/A Andrew W. Mellon Conservation Fellowship 13 334359 N/A N/A Andrew W. Mellon Postdoctoral Curatorial Fellowshi 2 116243 N/A N/A Andrew W. Mellon Collection Specialist Fellowship 5 254978 N/A N/A Research Scholarship in Photograph Conservation Fe 2 97096 N/A N/A J.Clawson Mills Fellowship 3 101250 N/A N/A Hagop Kevorkian Fellowship 2 72125 N/A N/A Slifka Foundation Fellowship 2 43333 N/A N/A Hanns Swarzenski and Brigitte Horney Fellowship 2 70250 N/A N/A Jane and Morgan Whitney Fellowship 21 496709 N/A N/A Polaire Weissman Fellowship 1 43333 N/A N/A Leonard A. Lauder Fellowships in Modern Art 6 226438 N/A N/A Markoe 2 64583 N/A N/A Andrew W. Mellon Indian Conservation Fellowship Pr 2 46667 N/A N/A Mellon Supplemental Fellowship Funds 87 532701 N/A N/A ARIAH Fellowship 1 18000 N/A N/A MONITORING PROCEDURES- FORM 990, SCHEDULE I, PART I, LINE 2 The Museum awards grants, educational travel stipends and fellowships on an objective and nondiscriminatory basis. A Grants Committee, comprised of Museum curators, conservators, educators, scientists and librarians make selections based upon competitive written applications. The purpose of the grants is to provide an opportunity for the grantees to conduct research, extend their professional knowledge and contribute to their respective fields at large. To the best of the Museum's knowledge none of the recipients of the grants or fellowships are related to any person such as a trustee, an officer, or a key person of the Museum. Every grantee is assigned a specific supervisor at the start of their fellowship period. The supervisor is either a curator, conservator or scientist from the department hosting the individual scholar. The scholar and supervisor are in contact throughout the year and discuss all of the details of the grantee's research work. In addition, the Academic and Professional Programs Office, which is responsible for all of the fellows, requires periodic updates on the individuals' research. X X true true X X X X X X true true false false false false false true false THOMAS P CAMPBELL DIR TO 7/17,EX-OFFICIO TRUSTEE 944474 0 0 0 122622 0 37501 0 322169 0 1426766 0 0 0 DANIEL H WEISS PRES&CEO FROM 6/17; EX-OF TRUS 670600 0 0 0 171402 0 37500 0 22169 0 901671 0 0 0 CLYDE B JONES III SVP INST. ADVANCEMENT 468828 0 0 0 3612 0 37500 0 9173 0 519113 0 0 0 CARRIE R BARRATT DEPUTY DIR COLLECTIONS/ADMIN. 355000 0 0 0 3499 0 37501 0 21508 0 417508 0 0 0 QUINCY K HOUGHTON ASSOC DIR OF EXHIB FROM 8/16 105917 0 35000 0 242 0 15246 0 10631 0 167036 0 0 0 SHARON H COTT SVP, SEC & GEN COUNSEL 432143 0 0 0 4009 0 37500 0 21461 0 495113 0 0 0 JAMESON KELLEHER VP, CFO & TREASURER FROM 9/16 275246 0 0 0 18564 0 37158 0 21128 0 352096 0 0 0 TOM JAVITS VP CONSTRUCTION & FACILITIES 349955 0 0 0 10180 0 37500 0 21128 0 418763 0 0 0 DEBRA A MCDOWELL VP HUMAN RESOURCES TO 10/17 311837 0 0 0 4636 0 37500 0 8895 0 362868 0 0 0 ELYSE TOPALIAN VP FOR COMMUNICATIONS TO 6/17 250686 0 0 0 3719 0 36618 0 20714 0 311737 0 0 0 SUZANNE E BRENNER SVP & CHIEF INVESTMENT OFFICER 606036 0 470313 0 4901 0 207734 0 22169 0 1311153 0 300500 0 LAUREN A MESERVE CHIEF INVESTMENT OFFICER 580695 0 424589 0 1710 0 197826 0 9689 0 1214509 0 283364 0 JEFFREY SPAR VP TECH & CHIEF TECH OFFICER 350970 0 0 0 1857 0 37501 0 21496 0 411824 0 0 0 BARBARA D BOEHM Sr Curator for the Cloisters 173071 0 0 0 710504 0 23308 0 21658 0 928541 0 0 0 KEN M WEINSTEIN GM Merch Fin,Ops,Sys to 8/16 177642 0 0 0 285924 0 33403 0 13803 0 510772 0 0 0 SREE SREENIVASAN CHIEF DIGITAL OFFICER TO 6/16 155022 0 0 0 201073 0 27168 0 11365 0 394628 0 0 0 STEPHEN A MANZI CHIEF DEVELOP OFFICER INDIV 287985 0 0 0 2798 0 37500 0 21178 0 349461 0 0 0 KEITH R CHRISTIANSEN CHAIRMAN, EUROPEAN PAINTINGS 282018 0 0 0 6605 0 37500 0 20914 0 347037 0 0 0 OLENA M PASLAWSKY FMR. SVP, CFO & TREAS TO 6/16 259037 0 0 0 529116 0 37501 0 5093 0 830747 0 0 0 JENNIFER RUSSELL FMR.ASSOC DIR OF EXHIB TO 6/16 191863 0 0 0 30515 0 28945 0 743 0 252066 0 0 0 NINA MCN DIEFENBACH FMR. VP DEVEL & MEMBER TO 6/16 76680 0 0 0 147115 0 31728 0 10761 0 266284 0 0 0 JO PROSSER FMR. VP MERCH & RETAIL to 4/16 127384 0 0 0 236217 0 14465 0 6513 0 384579 0 0 0 CYNTHIA ROUND FMR.SVP,MKTNG&EXT RELS TO 6/16 208085 0 0 0 259100 0 37500 0 11549 0 516234 0 0 0 SCHEDULE J, PART I, LINE 1A FIRST-CLASS TRAVEL FOR CALENDAR YEAR 2016, THE MUSEUMS DIRECTOR AND CHIEF EXECUTIVE OFFICER, THOMAS CAMPBELL, AND THE MUSEUMS PRESIDENT AND CHIEF OPERATING OFFICER, DANIEL WEISS, FLEW FIRST CLASS DOMESTICALLY ON AN EXCEPTIONAL BASIS WHERE THE AIRLINES DID NOT OFFER BUSINESS CLASS. THIS TRAVEL WAS NOT TREATED AS TAXABLE COMPENSATION. PERSONAL HOUSING FOR CALENDAR YEAR 2016, THE MUSEUM PROVIDED A HOUSING ALLOWANCE TO THE PRESIDENT AND CHIEF OPERATING OFFICER, DANIEL WEISS. THIS ALLOWANCE WAS TREATED AS TAXABLE COMPENSATION. FOR CALENDAR YEAR 2016, THE MUSEUM PROVIDED THE DIRECTOR AND CHIEF EXECUTIVE OFFICER, THOMAS CAMPBELL, WITH A RESIDENCE THAT HE WAS REQUIRED TO LIVE IN AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE MUSEUM. THE VALUE OF THIS HOUSING WAS NOT TREATED AS TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 4A THE FOLLOWING PERSONS RECEIVED A SEVERANCE PAYMENT IN CALENDAR YEAR 2016: OLENA PASLAWSKY - $492,816 JO PROSSER - $211,150 CYNTHIA ROUND - $203,919 KEN WEINSTEIN - $223,441 SREE SREENIVASAN - $155,000 SCHEDULE J, PART I, LINE 4B THE FOLLOWING PERSONS PARTICIPATED IN OR RECEIVED PAYMENTS FROM A SUPPLEMENTAL NON -QUALIFIED RETIREMENT PLAN IN CALENDAR YEAR 2016: THOMAS CAMPBELL - $90,000 DANIEL WEISS - $66,500 BARBARA BOEHM - $708,048 SCHEDULE J, PART I, LINE 7 PURSUANT TO THE MUSEUM'S INCENTIVE COMPENSATION PLAN FOR INVESTMENT, STAFF SENIOR VICE PRESIDENT AND CHIEF INVESTMENT OFFICER, SUZANNE BRENNER, RECEIVED A BONUS PAYMENT OF $470,313, AND CHIEF INVESTMENT OFFICER, LAUREN MESERVE, RECEIVED A BONUS PAYMENT OF $424,589. ALL SUCH PAYMENTS ARE INCLUDED IN SCHEDULE J, PART II COLUMN B. SCHEDULE J, PART II, COLUMN (C) COLUMN (C) INCLUDES DEFERRED COMPENSATION AS FOLLOWS: BONUS PAYMENTS FOR SUZANNE BRENNER OF $170,234 AND FOR LAUREN MESERVE OF $160,526. THIS DEFERRED COMPENSATION MAY BE FORFEITED IF THE RECIPIENT LEAVES THE MUSEUM'S EMPLOYMENT BEFORE IT IS PAID. THE EXACT AMOUNT IS SUBJECT TO ADJUSTMENT BASED ON THE PERFORMANCE OF THE ENDOWMENT FUND. FORM 990, PART VII THOMAS CAMPBELL AND DANIEL WEISS WERE EX-OFFICIO TRUSTEES DURING CALENDAR YEAR 2016. THOMAS CAMPBELL WAS DIRECTOR AND CEO OF THE MUSEUM UNTIL FEBRUARY 2017, AND DIRECTOR OF THE MUSEUM UNTIL JULY 2017. A TRUST FOR CULTURAL RESOURCES OF THE CITY OF NY 911882413 649717NP6 2006-12-01 65000000 PARTIAL FUNDING OF CAPITAL PROJECT false false false B TRUST FOR CULTURAL RESOURCES OF THE CITY OF NY 911882413 649717NQ4 2006-12-01 65000000 PARTIAL FUNDING OF CAPITAL PROJECT false false false A 0 0 65000000 0 0 0 795690 0 0 64204310 0 0 false false true true B 0 0 65000000 0 0 0 795690 0 0 64204310 0 0 false false true true A false false true true false 0 false false false true B false false true true false 0 false false false true A false true true false 0 false 0 false true B false true true false 0 false 0 false true A true B true Schedule K, Part III, Lines 4-6, Private Business and Unrelated Use THE MUSEUM PERFORMS A DETAILED PRIVATE BUSINESS AND UNRELATED USE CALCULATION. THE MUSEUM CALCULATED ITS PRIVATE BUSINESS AND UNRELATED USE FOR THE FISCAL YEAR ENDED JUNE 30, 2017 TO BE NEARLY 0% IN TAX EXEMPT BOND FINANCED SPACE. THIS ANALYSIS EXCLUDES COST OF ISSUANCE. WHALE ROCK FLAGSHIP FUND LTD SEE PART V 3195695 MANAGEMENT & PERFORMANCE FEE false BROADREACH CAPITAL PARTNERS SEE PART V 52425 MANAGEMENT FEE false Schedule L, Part IV Business transactions involving interested persons: Whale Rock Flagship Fund Ltd. (the "Fund") is an entity controlled by the son of Trustee Bonnie J Sacerdote. The Museum is invested with the Fund and pays fees to the Fund. Trustee Philip Maritz is a Managing Director of Broadreach Capital Partners. The Museum is invested in two funds sponsored by Broadreach and pays fees to the funds. X 219 0 X 9 0 X 0 X 183 18334993 Mkt Value- Gift Date 92 false true true SCHEDULE M, PART I, COLUMN (B) THE AMOUNTS SHOWN IN PART I, COLUMN (B) FOR "NUMBER OF CONTRIBUTIONS" REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS AND NOT NECESSARILY THE TOTAL NUMBER OF ITEMS CONTRIBUTED. USE OF THIRD PARTIES- FORM 990, SCHEDULE M, PART I, LINE 32B The museum may, from time to time, sell art works acquired as non-cash contributions through third parties such as public auction houses, private dealers, or individuals. In each case, the Museum enters into a contract or agreement with the third party conducting or participating in the sale and adheres to its own published policy regarding such sales as well as applicable IRS laws and standards of accounting. NON-REVENUE CONTRIBUTIONS- FORM 990, SCHEDULE M, PART I, LINE 33 In accordance with FASB's SFAS 116, the Museum does not treat donations of property of the types described in Part I of Schedule M as revenue or capitalize its collections because they are used to support its non -profit educational mission, and, should the property be sold, proceeds from such sale would be used solely to acquire other items for the collection. These accounting standards are also endorsed by the American Alliance of Museums and the Association of Art Museum Directors, of which organizations the Museum is a member. FORM 990, PART III - PROGRAM SERVICES MISSION AND ACCOMPLISHMENTS THE METROPOLITAN MUSEUM OF ART WAS FOUNDED ON APRIL 13, 1870, WITH A STATEMENT OF PURPOSE THAT HAS GUIDED IT FOR OVER 140 YEARS: "TO BE LOCATED IN THE CITY OF NEW YORK, FOR THE PURPOSE OF ESTABLISHING AND MAINTAINING IN SAID CITY A MUSEUM AND LIBRARY OF ART, OF ENCOURAGING AND DEVELOPING THE STUDY OF THE FINE ARTS, AND THE APPLICATION OF ARTS TO MANUFACTURE AND PRACTICAL LIFE, OF ADVANCING THE GENERAL KNOWLEDGE OF KINDRED SUBJECTS, AND, TO ThaT END, OF FURNISHING POPULAR INSTRUCTION." ON JANUARY 13, 2015, THE TRUSTEES OF THE METROPOLITAN MUSEUM OF ART REAFFIRMED THE ABOVE STATEMENT OF PURPOSE AND SUPPLEMENTED IT WITH THE FOLLOWING STATEMENT OF MISSION: "THE METROPOLITAN MUSEUM OF ART COLLECTS, STUDIES, CONSERVES, AND PRESENTS SIGNIFICANT WORKS OF ART ACROSS ALL TIMES AND CULTURES IN ORDER TO CONNECT PEOPLE TO CREATIVITY, KNOWLEDGE, AND IDEAS." THE MUSEUMS COLLECTION AND ITS STAFF SET THE WORLD STANDARD FOR EXHIBITIONS, SCHOLARSHIP, CONSERVATION, AND PUBLIC PROGRAMMING. RECORD-HIGH ATTENDANCE IN FISCAL YEAR 2017 - SEVEN MILLION VISITORS ACROSS OUR THREE LOCATIONS - WAS A TESTAMENT TO THIS AS WELL AS TO THE STRENGTH, RELEVANCE, AND ENDURANCE OF THE METS MISSION. THE YEAR SAW A RANGE OF ACHIEVEMENTS AND ACTIVITIES, INCLUDING A SUCCESSFUL FIRST full YEAR OF PROGRAMMING AT THE MET BREUER, WHERE WE EXPANDED OUR EXPLORATION OF MODERN AND CONTEMPORARY ART WITH GROUNDBREAKING EXHIBITIONS OF BOTH CONTEMPORARY AMERICAN ARTISTS AND ARTISTS REPRESENTING OTHER PARTS OF THE GLOBE. ATTENDANCE MUSEUM ATTENDANCE IN FISCAL YEAR 2017 WAS THE HIGHEST IN THE METS RECORDED HISTORY, WITH SEVEN MILLION VISITORS ACROSS OUR THREE LOCATIONS: THE MET FIFTH AVENUE, THE MET CLOISTERS, AND THE MET BREUER. THE INCREASE OVER LAST YEAR, WHICH SAW 6.7 MILLION VISITORS, WAS PRIMARILY DUE TO THE INFLUX OF VISITORS TO THE MET BREUER, WHICH HAD A TOTAL OF 505,590 VISITORS THIS YEAR. THE MUSEUM ALSO CONTINUED TO BE NEW YORK CITYS MOST VISITED TOURIST ATTRACTION FOR DOMESTIC AND INTERNATIONAL AUDIENCES. IN FISCAL YEAR 2017, INTERNATIONAL VISITORS ACCOUNTED FOR THIRTY-SEVEN PERCENT OF THE MUSEUMS ATTENDEES. THIRTY PERCENT OF VISITORS CAME FROM THE FIVE BOROUGHS, AND AN ADDITIONAL TWELVE PERCENT CAME FROM THE TRISTATE AREA, AFFIRMING THAT THE MET CONTINUES TO BE A POPULAR DESTINATION FOR LOCAL VISITORS. INTERNATIONAL ACTIVITY IN FEBRUARY WE STRENGTHENED OUR COMMITMENT TO BRINGING OUR ENCYCLOPEDIC RESOURCES TO MILLIONS OF PEOPLE ALL OVER THE WORLD THROUGH THE ADOPTION OF AN OPEN ACCESS POLICY. UNDER THE NEW POLICY, ALL IMAGES OF PUBLIC DOMAIN ARTWORKS IN THE MUSEUMS COLLECTION ARE NOW AVAILABLE on the museum's website FOR FREE AND UNRESTRICTED USE. ALSO CENTRAL TO THE METS MISSION IS WORKING BEYOND THE WALLS OF OUR THREE LOCATIONS. IN APRIL THE MUSEUM WAS SELECTED BY THE WILLIAM R. KENAN, JR. CHARITABLE TRUST TO BE AN ANCHOR ORGANIZATION, ALONGSIDE THE TISCH SCHOOL OF THE ARTS AT NEW YORK UNIVERSITY, IN AN INITIATIVE THAT EXPLORES HOW ARTS-BASED ORGANIZATIONS CAN SERVE AS POSITIVE, RELEVANT, AND INSPIRING FORCES IN THE DAILY LIVES OF DIVERSE COMMUNITIES. IN SEPTEMBER 2016 WE WERE PRIVILEGED TO COSPONSOR A SYMPOSIUM ON PROTECTING CULTURAL HERITAGE WITH THE U.S. DEPARTMENT OF STATE. THE EVENT, "TODAYS STRUGGLE TO PROTECT AND PRESERVE THE CULTURAL HERITAGE OF RELIGIOUS MINORITIES," WAS A CALL TO STRENGTHEN THE WORLDS COMMITMENT TO CULTURAL PRESERVATION AND INCLUDED A PANEL DISCUSSION WITH LEADING EXPERTS. IN NOVEMBER, IN PARTNERSHIP WITH COLUMBIA UNIVERSITY, THE MUSEUM HELD ITS SECOND CULTURAL HERITAGE WORKSHOP IN AMMAN, JORDAN, FOR IRAQI AND SYRIAN MUSEUM PROFESSIONALS. TO COMPLEMENT THIS INITIATIVE, STAFF IN THE DEPARTMENT OF ANCIENT NEAR EASTERN ART AND THE IMAGING DEPARTMENT CONDUCTED A TRAINING PROGRAM IN PHOTOGRAPHIC DOCUMENTATION FOR STAFF OF REGIONAL MUSEUMS, AND PARTICIPANTS RECEIVED A KIT TO CARRY OUT THIS IMPORTANT PROCESS AT THEIR OWN INSTITUTIONS. ALSO LAST FALL, WE REAFFIRMED OUR LONG-TERM COOPERATIVE RELATIONSHIP WITH THE MINISTRY OF CULTURE OF THE GOVERNMENT OF INDIA THROUGH A NEW MEMORANDUM OF UNDERSTANDING. THE AGREEMENT IS A FIVE-YEAR RENEWAL OF THE ESTABLISHED TWO-WAY PARTNERSHIPS BETWEEN THE MUSEUM AND CULTURAL INSTITUTIONS IN INDIA FOR SHARING KNOWLEDGE AND EXPERTISE IN CONSERVATION, EXHIBITIONS, ACADEMIC RESEARCH, PUBLIC EDUCATION, PUBLICATIONS, AND MORE. IN FEBRUARY THE MET HOSTED THE FIRST GERMAN/AMERICAN PROVENANCE RESEARCH EXCHANGE PROGRAM (PREP), WHICH BRINGS TOGETHER MUSEUM AND RESEARCH PROFESSIONALS FROM BOTH COUNTRIES WHO SPECIALIZE IN HOLOCAUST-ERA PROVENANCE PROJECTS. THE PROGRAM AT THE MET WAS THE FIRST OF SIX EXCHANGES OVER THREE YEARS IN WHICH PARTICIPANTS WILL COMPARE METHODOLOGIES, ASCERTAIN RESOURCES, AND CONNECT WITH OTHER EXPERTS. COLLECTION AND ACQUISITIONS THE MET PRESENTS OVER 5,000 YEARS OF ART FROM AROUND THE WORLD AT ITS MAIN BUILDING ON FIFTH AVENUE, AT THE MET BREUER, AND AT THE MET CLOISTERS. THE MET HAS ALWAYS ASPIRED TO BE MORE THAN A TREASURY OF RARE AND BEAUTIFUL OBJECTS. EVERY DAY, ART COMES ALIVE IN THE MUSEUMS GALLERIES AND THROUGH ITS EXHIBITIONS AND EVENTS, REVEALING BOTH NEW IDEAS AND UNEXPECTED CONNECTIONS ACROSS TIME AND ACROSS CULTURES. THE MUSEUMS COLLECTION CONTINUED TO EVOLVE INTELLECTUALLY AND CULTURALLY WITH A NUMBER OF MAJOR ACQUISITIONS IN FISCAL YEAR 2017, KEEPING US A VIBRANT AND RELEVANT INSTITUTION. EACH WORK OF ART ADDS NEW STORIES, OFFERS NEW PERSPECTIVES, AND POSES NEW QUESTIONS for US. KEY ACQUISITIONS INCLUDED A HELMET, CUIRASS, AND GREAVE (SHIN GUARD) ENSEMBLE THAT EXEMPLIFIES THE QUALITIES OF FORM AND DECORATION OF THE GREATEST ARMORS MADE IN ETRURIA DURING THE CLASSICAL PERIOD (CA. 490300 B.C.); AN EXTRAORDINARY SIXTEENTH-CENTURY NETHERLANDISH CARVING IN THE FORM OF THE LETTER P THAT OPENS TO REVEAL THE ACTION-PACKED LEGEND OF SAINT PHILIP; A MONUMENTAL CREST MASK MADE OF WOOD BY A BAMILEKE MASTER IN THE EIGHTEENTH CENTURY; A QUARTET OF GUITARS BY ONE OF THE PREMIER GUITAR MAKERS OF THE LATE TWENTIETH AND EARLY TWENTY-FIRST CENTURIES, JOHN MONTELEONE; A HANGING SCROLL FROM THE TENTH CENTURY ATTRIBUTED TO LANDSCAPE PAINTER DONG YUAN AND A SMALL ALBUM BY THE FIGURE PAINTER GAI QI (17731829), BOTH FOR THE DEPARTMENT OF ASIAN ART; 174 SINGLE-CHANNEL VIDEOS BY ONE OF VIDEO ARTS GREAT PRACTITIONERS, AMERICAN ARTIST WILLIAM WEGMAN (BORN 1943), REPRESENTING THE ENTIRETY OF WEGMANS WORK IN VIDEO TO DATE (WITH THE EXCEPTION OF COMMISSIONED WORKS); AND, FOR THE AMERICAN WING, A GROUNDBREAKING COLLECTION OF NINETY-ONE MASTERPIECES OF NATIVE AMERICAN ART, RANGING FROM THE SECOND TO THE TWENTIETH CENTURY, INCLUDING PAINTINGS, DRAWINGS, SCULPTURE, CERAMICS, AND DRESS, THAT ENCOMPASSES NORTH AMERICAS EARLIEST AND MOST ENDURING ARTISTIC HERITAGE AND HAS THE POTENTIAL TO MAKE THE MET A CONVENING SPACE FOR THIS CULTURAL AREA. FORM 990, PART III - CONTINUED CURATORIAL, CONSERVATION, AND RESEARCH THE MUSEUMS CURATORIAL PROGRAMS ARE SUPPORTED BY NUMEROUS SERVICES AND RESOURCES. THE DEPARTMENTS OF PAINTINGS, PAPER, OBJECTS, TEXTILE, AND PHOTOGRAPHS CONSERVATION ALONG WITH SCIENTIFIC RESEARCH PREPARE AND REVIEW EVERY ARTWORK SELECTED FOR AN EXHIBITION OR LOAN. THE METS CONSERVATION EFFORT RANKS WITH THE BEST OF THE WORLDS MAJOR MUSEUMS. THE THOMAS J. WATSON LIBRARY HOUSES VALUABLE RESEARCH MATERIAL AVAILABLE TO THE STAFF AND PUBLIC FOR CURATORIAL, EDUCATION, AND PUBLICATION PROJECTS. IN FISCAL YEAR 2017, 9,027 VISITS WERE MADE BY OUTSIDE RESEARCHERS, AND 2,079 NEW OUTSIDE RESEARCHERS WERE REGISTERED. THE MUSEUM LIBRARIES CIRCULATED 47,929 ITEMS TO READERS. ELEVEN WEEKLY SESSIONS OF STORY TIME IN NOLEN LIBRARY REACHED OVER 17,525 CHILDREN AND THEIR CAREGIVERS. THE LIBRARY CONTINUED TO DIGITIZE RARE COLLECTION MATERIALS, BOTH PRINTED AND MANUSCRIPT, AND TO MAKE THEM AVAILABLE ONLINE, CONTINUING TO AVERAGE MORE THAN 97,400 PAGE HITS PER MONTH. THE MET IS ONE OF THE WORLDS PREEMINENT ART-BOOK PUBLISHERS, AND IN FISCAL YEAR 2017 OUR PUBLICATIONS AND EDITORIAL DEPARTMENT PRODUCED TWENTY-FOUR NEW TITLES. AMONG THESE WERE EXHIBITION CATALOGUES FOR MANY OF THE YEARS EXHIBITIONS, INCLUDING THOSE ON ANCIENT CHINA, MEDIEVAL JERUSALEM, THE MODERNIST PAINTINGS OF MAX BECKMANN AND MARSDEN HARTLEY, AND THE PHOTOGRAPHS OF IRVING PENN. THE DEPARTMENT ALSO PUBLISHED PRINT CATALOGUES ON THE MUSEUMS COLLECTIONS OF ROMAN PORTRAITS, ITALIAN MAIOLICA, AND MASTERPIECE PAINTINGS, AND A DIGITAL CATALOGUE OF CYPRIOT TERRACOTTAS. THE YEAR SAW AN OVERALL INCREASE IN SALES INCOME OF TWENTY-TWO PERCENT OVER THE PREVIOUS YEAR. NINE OF OUR TITLES WON AWARDS, AND THIRTEEN WERE TRANSLATED INTO FOREIGN LANGUAGES. THE GROUNDBREAKING METPUBLICATIONS, A PORTAL TO OUR COMPREHENSIVE PUBLISHING PROGRAM WITH MORE THAN 1,500 ONLINE AND PRINT PUBLICATIONS FROM THE LAST FIVE DECADES, ATTRACTED NEARLY A MILLION VISITORS FROM AROUND THE WORLD. EXHIBITIONS THE MUSEUMS WORLD-CLASS SCHOLARSHIP WAS REFLECTED THIS YEAR IN SIXTY EXHIBITIONS FROM SMALL, FOCUSED INSTALLATIONS TO LARGE INTERNATIONAL SHOWS. THE FOLLOWING EXHIBITIONS WERE AMONG THE HIGHLIGHTS IN FISCAL YEAR 2017: "JERUSALEM 10001400: EVERY PEOPLE UNDER HEAVEN "VALENTIN DE BOULOGNE: BEYOND CARAVAGGIO "FRAGONARD: DRAWING TRIUMPHANT WORKS IN NEW YORK COLLECTIONS "MAX BECKMANN IN NEW YORK "NATIVE AMERICAN MASTERPIECES FROM THE CHARLES AND VALERIE DIKER COLLECTION "THE MYSTERIOUS LANDSCAPES OF HERCULES SEGERS "SEURATS CIRCUS SIDESHOW "SARA BERMANS CLOSET "AGE OF EMPIRES: CHINESE ART OF THE QIN AND HAN DYNASTIES (221 B.C.A.D. 220) "IRVING PENN: CENTENNIAL "THE ROOF GARDEN COMMISSION: ADRIN VILLAR ROJAS, THE THEATER OF DISAPPEARANCE "REI KAWAKUBO/COMME DES GARCONS: ART OF THE IN-BETWEEN "AMERICAN INDIAN ART FROM THE FENIMORE ART MUSEUM: THE THAW COLLECTION "JAPANESE BAMBOO ART: THE ABBEY COLLECTION "KERRY JAMES MARSHALL: MASTRY"KERRY JAMES MARSHALL SELECTS" (THE MET BREUER); "DIANE ARBUS: IN THE BEGINNING" (BREUER); "MARISA MERZ: THE SKY IS A GREAT SPACE" (BREUER); "LYGIA PAPE: A MULTITUDE OF FORMS" (BREUER); "MARSDEN HARTLEYS MAINE" (BREUER); AND "SMALL WONDERS: GOTHIC BOXWOOD MINIATURES" (THE MET CLOISTERS). EDUCATION THE EDUCATION DEPARTMENT FURTHER MAXIMIZED CREATIVE PROGRAMMING, SHOWCASED SCHOLARLY EFFORTS, AND INCREASED AUDIENCE ENGAGEMENT LAST FISCAL YEAR - ACHIEVEMENTS THAT WERE MADE POSSIBLE BY NEWLY DEFINED DEPARTMENT PRIORITIES, AN ALIGNED WORKFLOW, AND AN ARTICULATED EDUCATIONAL PHILOSOPHY CONNECTED TO OVERALL INSTITUTIONAL VALUES. THE DEPARTMENTS FIVE PRIORITIES REFINE STAFF ORGANIZATION AND CONTINUE TO INVEST IN PROFESSIONAL DEVELOPMENT; SOLIDIFY THE DEPARTMENT AS A LEADER AND INFLUENCER IN THE FIELD; MAKE THE MET RESPONSIVE AND RELEVANT, SERVING AS A PLATFORM FOR TIMELY ISSUES; DEEPEN THE MUSEUMS PRESENCE AND IMPACT OUTSIDE ITS PHYSICAL LOCATIONS INTO COMMUNITIES; AND ESTABLISH OUR GALLERIES AND OTHER SPACES AS ACTIVE LABORATORIES FOR SCHOLARS, ARTISTS, AND THE GENERAL PUBLICHAVE FOSTERED GREATER COLLABORATION AMONG COLLEAGUES THROUGHOUT THE MUSEUM AND WITH PARTNERS ACROSS THE CITY, COUNTRY, AND WORLD. IN FISCAL YEAR 2017, MORE THAN TEN PERCENT OF THE MUSEUMS VISITORS WERE DIRECTLY SERVED BY EDUCATION PROGRAMS, AND MORE THAN THIRTY THOUSAND EVENTS DREW MORE THAN 740,000 PARTICIPANTS. CONTINUING OUR SUCCESSFUL ENGAGEMENT WITH PRACTICING ARTISTS, WE SELECTED SOUND ARTIST NATE DIMEO, CREATOR OF THE POWERFUL PODCAST THE MEMORY PALACE, AS THE YEARS ARTIST IN RESIDENCE. DURING HIS RESIDENCY, DIMEO PRODUCED A SINGULAR EXPLORATION OF THE AMERICAN WING IN TEN REVELATORY PODCAST EPISODES AND A SERIES OF LIVE EVENTS. ANOTHER PUBLIC PROGRAMMING HIGHLIGHT WAS THE SYMPOSIUM "KERRY JAMES MARSHALL A CREATIVE CONVENING," A DAYLONG EXPLORATION OF RADICAL CREATIVITY INSPIRED BY THE IDEAS, PRACTICE, AND WORK OF CHICAGO-BASED VISUAL ARTIST KERRY JAMES MARSHALL. DEVELOPED IN PARTNERSHIP WITH MARSHALL, THE SYMPOSIUM BROUGHT TOGETHER THOUGHT LEADERS AND CREATIVE PRACTITIONERS AROUND THE ROLE OF INNOVATION, SOCIAL JUSTICE, AND IMAGINATION IN ART. THE EVENT WAS WIDELY CELEBRATED, AND AS A RESULT THE PROCEEDINGS WILL BE MADE INTO A PUBLICATION. VISITORS OF ALL AGES, BACKGROUNDS, INTERESTS, AND ABILITIES ENJOYED AN ENORMOUS RANGE OF PROGRAMS THROUGHOUT THE YEAR. METFRIDAYS: NEW YORKS NIGHT OUT, EVENINGS OF DYNAMIC PROGRAMMING CONCEIVED AROUND A THEME, ENGAGED LOCAL RESIDENTS AND SERVED AS A CATALYST FOR PARTNERSHIPS WITH NEW YORK CITYS CREATIVE COMMUNITIES, ATTRACTING MORE THAN THREE THOUSAND PARTICIPANTS. EACH EVENING, SUCH AS ONE CELEBRATING GAY PRIDE, FOSTERED CULTURAL LEARNING AND SENSITIVE DIALOGUE AND OFTEN DREW A HIGH PERCENTAGE OF YOUNG ADULTS AGED EIGHTEEN TO THIRTY-FOUR. LARGE-SCALE FESTIVALS MARKED LUNAR NEW YEAR, NEW YORKS ANNUAL MUSEUM MILE FESTIVAL, AND, FOR THE FIRST TIME, WORLD CULTURE. WITH FREE-WITH-ADMISSION LIVE-ARTS PERFORMANCES IN THE GALLERIES, THESE EVENTS ATTRACTED MORE THAN TEN THOUSAND PEOPLE. OUR ONGOING EFFORTS TO ENGAGE NEW AND DIVERSE YOUTH AUDIENCES AGAIN INCLUDED TWO LARGE-SCALE TEENS TAKE THE MET! EVENTS, WHICH INVOLVED MORE THAN 120 ORGANIZATIONAL PARTNERS PRESENTING A VARIETY OF ACTIVITIES: ART MAKING, MUSIC, GALLERY EXPERIENCES, INTERPRETIVE PROGRAMMING, 3-D PRINTING, DANCE CLASSES, AND MORE. MANY OF THE APPROXIMATELY 5,500 PARTICIPATING TEENS WERE VISITING THE MET FOR THE FIRST TIME (FIFTY-TWO PERCENT AT THE FALL EVENT, AND THIRTY-ONE PERCENT IN THE SPRING). THE MET CONTINUES TO SERVE AS A RICH RESOURCE FOR K12 TEACHERS AND THEIR STUDENTS. LAST FISCAL YEAR, 232,630 PEOPLE PARTICIPATED IN 6,677 GUIDED AND SELF-GUIDED SCHOOL GROUP VISITS TO THE METS THREE LOCATIONS, AND 2,187 TEACHERS AND SCHOOL LEADERS TOOK PART IN PROGRAMS ON INTEGRATING ART INTO CLASSROOM TEACHING. NOW IN ITS THIRD YEAR, OUR ASTOR EDUCATOR PROGRAM HAS SERVED FORTY-FIVE TEACHERS FROM ACROSS THE CITY. WORKING WITH TEACHERS TO IMPROVE STUDENT LEARNING IN AND THROUGH THE ARTS, THE PROGRAM FOCUSES LESS ON THE NUMBER OF STUDENTS SERVED AND MORE ON TRAINING FOR TEACHERS. WE ALSO CONTINUED TO OFFER ONE OF THE MOST CELEBRATED ACADEMIC AND PROFESSIONAL PROGRAMS IN THE FIELD, GRANTING SIXTY-TWO FELLOWSHIPS TO LEADING SCHOLARS FROM AROUND THE WORLD. FORM 990, PART III - CONTINUED DIGITAL THE MET HAS EMERGED AS A GLOBAL LEADER IN BOTH ITS DIGITAL PRACTICES AND REACH. THE MUSEUMS WEBSITE ENDED FISCAL YEAR 2017 WITH A TOTAL OF 31 MILLION VISITS, THIRTY-FIVE PERCENT OF WHICH WERE INTERNATIONAL. THE METS ONLINE COLLECTION AND THE HEILBRUNN TIMELINE OF ART HISTORY CONTINUE TO DRAW THE MOST VISITS, WITH 8.3 MILLION AND 10.4 MILLION, RESPECTIVELY. AS OF JUNE 30 OUR NEW OPEN ACCESS POLICY WHICH MADE OVER 375,000 ONLINE COLLECTION IMAGES AVAILABLE FOR FREE AND UNRESTRICTED USE HAD RESULTED IN 94,000 DOWNLOADS SINCE THE POLICY WAS ANNOUNCED IN FEBRUARY, AN INCREASE OF 128 PERCENT OVER THE PREVIOUS FIVE-MONTH PERIOD. THE MUSEUMS SOCIAL MEDIA FOLLOWING HAS GROWN: THE NUMBER OF FOLLOWERS ON OUR TWITTER FEED MORE THAN DOUBLED TO 3.3 MILLION (FORTY-SEVEN PERCENT INTERNATIONAL); OUR WEBBY AWARDWINNING INSTAGRAM ACCOUNT GREW TO MORE THAN TWO MILLION FOLLOWERS (SIXTY-EIGHT PERCENT INTERNATIONAL); AND OUR FACEBOOK ACCOUNT HAD MORE THAN 1.7 MILLION (SIXTY-SEVEN PERCENT INTERNATIONAL) IN FISCAL YEAR 2017. THE MET 360" PROJECT WHICH PRESENTS VIDEOS THAT ALLOW THE EXPLORATION OF ICONIC OBJECTS AND SPACES IN THE MUSEUM FROM NEVER-BEFORE-SEEN PERSPECTIVES HAS PROVEN TO BE EXTREMELY POPULAR. THE PROJECT HAS WON BOTH A WEBBY AND A SHORTY AWARD, AND AS OF JUNE HAD GARNERED 11.5 MILLION VIEWS AND 451,000 INTERACTIONS, INCLUDING 22,000 COMMENTS. CAPITAL PROJECTS THE FIRST PHASE OF A MAJOR RENOVATION AND REINTERPRETATION OF THE MUSICAL INSTRUMENTS GALLERIES, WHICH BEGAN IN SPRING 2016, WAS COMPLETED IN JULY OF THIS YEAR WITH THE REOPENING OF THE GALLERY DEVOTED TO BRASS INSTRUMENTS. WORK ON THE OTHER GALLERIES CONTINUES. AN AMBITIOUS PROJECT TO RENOVATE TEN GALLERIES, INCLUDING THREE HISTORIC INTERIORS, DEVOTED TO BRITISH DECORATIVE ARTS AND SCULPTURE OF THE EARLY SIXTEENTH THROUGH THE NINETEENTH CENTURY BEGAN LAST FALL. ESTABLISHED IN THE 1980S, THE GALLERIES INCLUDE SOME 11,000 SQUARE FEET OF DISPLAY SPACE, AND WHEN THEY REOPEN IN WINTER 201819 THEY WILL PROVIDE OUR VISITORS WITH A NARRATIVE-RICH EXPERIENCE OF BRITISH DESIGN. AT THE CLOSE OF THE FISCAL YEAR, THE MUSEUM WAS PREPARING TO BEGIN WORK ON ITS LARGEST INFRASTRUCTURE PROJECT TO DATE REPLACING THE SKYLIGHTS OVER THE EUROPEAN PAINTINGS GALLERIES, WHICH WERE INSTALLED IN THE 1930S. THE PROJECT WILL BE COMPLETED IN PHASES OVER APPROXIMATELY FOUR YEARS, WITH THE FIRST PHASE OF CONSTRUCTION SCHEDULED TO START IN JUNE 2018. THE METROPOLITAN MUSEUM OF ART IS A REMARKABLE COMMUNITY WHOSE PRESENCE IN THE WORLD IS WELCOMING TO ALL AND A POWERFUL CIVILIZING FORCE, CHAMPIONING THE HIGHEST ACHIEVEMENTS IN ART FROM ALL CULTURES. AS WE APPROACH OUR 150TH ANNIVERSARY, WE LOOK FORWARD TO CREATING PROGRAMS THAT ALLOW THE MAGNIFICENCE OF THE MET TO SHINE. FORM 990, PART VI, LINE 1A - VOTING RIGHTS IN ACCORDANCE WITH THE MUSEUM'S BY-LAWS, THE EXECUTIVE COMMITTEE HAS THE RIGHT TO EXERCISE ALL THE POWERS OF THE BOARD OF TRUSTEES DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES OTHER THAN THE POWERS TO (A) FILL VACANCIES IN THE BOARD OF TRUSTEES OR IN ANY COMMITTEE; (B) AMEND OR REPEAL THE BY-LAWS OR ADOPT NEW BY-LAWS;(C) AMEND OR REPEAL ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS TERMS SHALL NOT BE SO AMENDABLE OR REPEALABLE; (D) ELECT OR REMOVE TRUSTEES OR OFFICERS; (E) APPROVE A MERGER OR PLAN OF DISSOLUTION; (F) ADOPT A RESOLUTION AUTHORIZING ACTION ON THE SALE, LEASE, EXCHANGE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL THE ASSETS OF THE MUSEUM; OR (G) APPROVE AMENDMENTS TO THE CHARTER. FORM 990, PART VI, LINE 2 - FAMILY OR BUSINESS RELATIONSHIP TWO TRUSTEES OF THE MUSEUM, HAMILTON E. JAMES AND J. TOMILSON HILL, HAVE A BUSINESS RELATIONSHIP. BOTH ARE OFFICERS OF THE BLACKSTONE GROUP. FORM 990, PART VI, LINE 4 - CHANGE TO ORGANIZING DOCUMENTS THE MUSEUM MADE SOME CHANGES TO ITS BY-LAWS, WHICH WERE APPROVED AT THE JUNE 13, 2017 MEETING OF THE BOARD OF TRUSTEES. THE REVISIONS WERE MADE TO UPDATE THE RESPECTIVE DUTIES OF THE DIRECTOR AND The PRESIDENT. FORM 990, PART VI, LINE 6 - MEMBERS OF THE ORGANIZATION THE MUSEUM DOES NOT HAVE "MEMBERS" AS SUCH TERM IS DEFINED IN THE INSTRUCTIONS TO FORM 990. HOWEVER, THE MUSEUM USES THE TERM "MEMBERS" IN CONNECTION WITH DUES, FEES, GOODS, BENEFITS, PRIVILEGES AND SERVICES AS ESTABLISHED BY THE MUSEUM FROM TIME TO TIME. FORM 990, PART VI, LINE 11B - REVIEW PROCESS THE MUSEUM'S FORM 990, INCLUDING REQUIRED SCHEDULES AND SUPPORTING DOCUMENTATION, IS INITIALLY COMPILED BY THE MUSEUM'S FINANCE DEPARTMENT PRIMARILY RELYING ON THE MUSEUM'S GENERAL LEDGER, AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL SYSTEMS. THE MUSEUM'S CONTROLLER, CHIEF FINANCIAL OFFICER, GENERAL COUNSEL, AND EXTERNAL TAX ADVISORS PARTICIPATE IN A SERIES OF DETAILED REVIEWS OF THE FORM 990. THE FORM 990 IS ALSO REVIEWED BY THE MUSEUM'S SENIOR MANAGEMENT, INCLUDING THE MUSEUM'S PRESIDENT, THE AUDIT COMMITTEE OF THE MUSEUM'S BOARD OF TRUSTEES, AND EXTERNAL LEGAL COUNSEL. A COMPLETE COPY IS PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES PRIOR TO FILING THE RETURN. THE MUSEUM'S EXTERNAL TAX ADVISORS FILE THE FORM 990 ELECTRONICALLY WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, LINE 12C - CONFLICT OF INTEREST THE MUSEUM REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY BY REQUIRING ONGOING DISCLOSURE OF POTENTIAL CONFLICTS, REVIEW OF SUCH DISCLOSURES, AND RECUSAL BY CONFLICTED INDIVIDUALS WHEN WARRANTED. SPECIFICALLY, ON AN ANNUAL BASIS THE MUSEUM SEEKS TO ENSURE COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY BY SENDING RELEVANT WRITTEN POLICIES TO SENIOR STAFF, TRUSTEES AND ADVISORY MEMBERS OF COMMITTEES OF THE BOARD OF TRUSTEES. EACH POLICY IS SENT WITH A STATEMENT, WHICH MUST BE COMPLETED, SIGNED AND RETURNED TO THE MUSEUM'S GENERAL COUNSEL. THE STATEMENT REQUIRES EACH INDIVIDUAL TO CONFIRM THAT HE OR SHE HAS (I) RECEIVED A COPY OF THE POLICY, (II) READ AND UNDERSTOOD THE POLICY AND (III) AGREES TO COMPLY WITH THE POLICY. THE INDIVIDUAL IS ALSO ASKED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST THAT HE OR SHE OR A MEMBER OF HIS OR HER FAMILY, OR AN ENTITY IN WHICH ANY OF THEM HAVE A MATERIAL OWNERSHIP INTEREST, MAY HAVE. THE STATEMENTS ARE COMPLETED AND RETURNED TO THE GENERAL COUNSEL'S OFFICE. WHEN POTENTIAL CONFLICTS ARISE, THEY ARE INITIALLY EVALUATED BY THE GENERAL COUNSEL WITH THE ASSISTANCE OF OUTSIDE LEGAL COUNSEL IF NECESSARY. ACTUAL CONFLICTS OF INTEREST ARE RESOLVED IN CONSULTATION WITH THE MUSEUM'S PRESIDENT (FOR STAFF) AND THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE LEGAL COMMITTEE OF THE MUSEUM'S BOARD (FOR TRUSTEES, INCLUDING THE DIRECTOR AND THE PRESIDENT). IF AN ACTUAL CONFLICT OF INTEREST IS DETERMINED TO EXIST, THE INDIVIDUAL IS PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISIONS REGARDING THE TRANSACTION. A SUMMARY OF THE POTENTIAL CONFLICTS OF INTEREST DISCLOSED BY THE TRUSTEES ARE PRESENTED TO THE AUDIT COMMITTEE EACH YEAR. A SUMMARY OF THE POTENTIAL CONFLICTS OF INTEREST DISCLOSED BY SENIOR STAFF IS PRESENTED TO THE PRESIDENT EACH YEAR. FORM 990, PART VI, LINES 15A AND 15B-COMPENSATION REVIEW PROCESS THE COMPENSATION COMMITTEE ("THE COMMITTEE") OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR OVERSIGHT OF COMPENSATION AND BENEFITS PROGRAMS FOR THE MUSEUM'S OFFICERS, AND FOR ENSURING THAT THE COMPENSATION POLICIES OF THE MUSEUM ARE CONSISTENT WITH AND IN SUPPORT OF THE MUSEUM'S MISSION, VALUES AND LONG-TERM GOALS. THE INTENT OF THE COMMITTEE IS TO PROVIDE A TOTAL COMPENSATION PROGRAM FOR THE OFFICERS THAT PROMOTES THE MUSEUM'S LONG-TERM OBJECTIVES, AND IS REASONABLE APPROPRIATE, AND FAIR. ANNUALLY, AN INDEPENDENT COMPENSATION CONSULTANT AND THE COMMITTEE REVIEW THE TOTAL COMPENSATION OF EACH OFFICER OF THE MUSEUM. THE INDEPENDENT COMPENSATION CONSULTANT MAKES RECOMMENDATIONS WITH RESPECT TO THE TOTAL COMPENSATION OF EACH OFFICER, AND THE COMMITTEE APPROVES THE COMPENSATION. COMPENSATION DECISIONS ARE MADE WITH REFERENCE TO COMPARABILITY DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE ROLES AT SIMILARLY SITUATED ORGANIZATIONS PRESENTED BY THE INDEPENDENT COMPENSATION CONSULTANT. THE INDEPENDENT COMPENSATION CONSULTANT AND THE COMMITTEE ALSO CONSIDER OTHER RELEVANT FACTORS IN DETERMINING COMPENSATION, INCLUDING THE MUSEUM'S MISSION AND GOALS, THE PERFORMANCE OF EACH OFFICER, AND THE MARKET FOR EXECUTIVE TALENT. THE COMMITTEE COMPLIES WITH THE "REBUTTABLE PRESUMPTION" PROCEDURES FOR DETERMINING THAT COMPENSATION IS REASONABLE UNDER INTERNAL REVENUE CODE SECTION 4958. DELIBERATIONS AND DECISIONS REGARDING COMPENSATION ARRANGEMENTS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 - GOVERNING DOCUMENTS THE MUSEUM'S AUDITED FINANCIAL STATEMENTS ARE INCLUDED IN THE MUSEUM'S ANNUAL REPORT, WHICH IS MADE AVAILABLE TO THE PUBLIC ON THE MUSEUM'S WEBSITE. THE MUSEUM MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. PART XI, LINE 9, OTHER CHANGES IN NET ASSETS CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 1,758,078 UNREALIZED GAINS AND LOSSES ON 2015 BOND PROCEEDS 13,399,180 NET RECLASSIFICATIONS, FEES, AND OTHER 296,889 PENSION - RELATED CHANGES OTHER THAN NPPC 28,627,226 CHANGE IN FAIR VALUE OF INTEREST RATE EXCHANGE AGREEMENTS 14,075,168 PARTNERSHIP UBIT 17,654,525 ---------- TOTAL 75,811,066 CHARITABLE TRUSTS (13) TRUST NA TRUST false false false false false false false false false false false false false false false false false false false false