2017-11-15T14:28:26-07:00 2016-12-31 990 2016-01-01 420680419 EDMUNDSON ART FOUNDATION INC EDMU 5152774405 4700 GRAND AVE DES MOINES IA 50312 Cheryl Tuttle Senior Director of Finance 5152774405 2017-08-15 167.142.62.142 2016 2017-02-10 21:41:12Z DES MOINES ART CENTER Jeff Fleming 4700 Grand Ave Des Moines IA 50312 8598872 0 X www.desmoinesartcenter.org X 1946 IA The Des Moines Art Center engages diverse local, national, and international audiences with the art of today through its museum and school, adding to the cultural record through collections and programs. 28 28 170 254 54916 0 3261724 4631896 374720 419279 3112010 2958567 140058 238314 6888512 8248056 0 0 0 0 3099142 3300335 0 0 784148 3092737 5417091 6191879 8717426 696633 -469370 110084812 125094890 549186 1820620 109535626 123274270 The Des Moines Art Center engages diverse local, national, and international audiences with the art of today through its museum and school, adding to the cultural record through collections and programs. 0 0 5708136 0 54683 Collections, exhibitions and works of art - Over 300 works of art from the permanent collections are always on display. Examples of our masterpiece-quality works include Claude Monet, Brice Marden, John Singer-Sargent, Francis Bacon, Frank Stella, Cecily Brown, Phillip Guston, Jean Arp, Andy Goldsworthy, Constanin Brancusi, Louise Bourgeois, and Alberto Giacometti. In addition, fifteen special exhibitions were presented in 2016. These exhibitions contributed to the dialogues surrounding contemporary art and included Arts & Letters; Glenn Brown; and Vivian Maier: Through a Critical Lens. We highlighted our permanent collections in smaller shows, such as Selfie: Self Portraits from the Permanent Collections; Cy Twombly: Natural Histories; and Whose Streets. Responding to our home state, we presented Iowa Artists: Alex Braidwood and Iowa Artists: Jordan Weber, and we offered a full season of our "Single Channel" video series. We published two major catalogs and several smaller brochures to accompany these projects. Artworks entering the permanent collections came from all corners of the world, showcasing the diversity of our holdings and fulfilling our desire for multiple audiences to "see themselves" in the museum. In 2016, we acquired important works of art through gift and purchase by Glenn Brown, Laurel Nakadate, Danh Vo, Mark Bradford, Rene Magritte, Marlene Dumas, Sandro Chia, Alice Aycock, Dmitri Baltermants, Yasuo Kuniyoshi, and Grant Wood, among others. Countries represented by these acquisitions include Japan, Italy, South Africa, Great Britain, Belgium, Russia, France, Germany, and Vietnam. Open to visitors since September 2009, the John and Mary Pappajohn Sculpture Park features artwork by 28 of the world's most celebrated artists. Related education programs reached thousands of children and adults. 1574716 0 364065 Education - Our education and art access programs are diverse and comprehensive, including a public art school, tours, programs for at-risk youth, and lectures. Three terms of classes and workshops are offered to members and the general public each year; approximately 3,000 students (children, adults, and families) took classes ranging from drawing, painting, photography, art history, ceramics, jewelry making, and more. Approximately 6% of the students received scholarships. In 2016, the tours program served approximately 19,000 students from pre-kindergarten through college, including all fourth graders in Des Moines Public Schools as well as eight surrounding school districts. Additionally, more than 2,000 thousand adults toured the Art Center and/or Sculpture Park. Tours are led by volunteer docents who participate in both comprehensive initial and continuing education training. The student tours population includes many "at-risk" children as approximately half of Des Moines' public school students are defined as such. Our art access programs, comprised of six areas of focus served 1,427 at-risk students. The areas of focus included art and literacy, diverse communities, school enrollment, arts and healing, mentor programs, and gender issues. Finally, our lecture and gallery dialogue series speaks directly to serving adult learners. Speakers vary from our curatorial experts, to regional scholars, to internationally acclaimed artists. More than 2,300 people attended speakers' programs in 2016. 0 0 0 7282852 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 46 0 1 170 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X Cheryl A Tuttle 5152774405 4700 GRAND AVE DES MOINES IA 50312 Andrea Abel Trustee 1 0 X 0 0 0 Julie Brenton Trustee 1 0 X 0 0 0 Joseph Ceryanec Trustee 1 0 X 0 0 0 Graham Cook Trustee 1 0 X 0 0 0 Richard Deming Trustee 1 0 X 0 0 0 Lois Fingerman Trustee 1 0 X 0 0 0 Jason Gross Trustee 1 0 X 0 0 0 Christine Hensley Trustee 1 0 X 0 0 0 Bruce Hughes Trustee 1 0 X 0 0 0 Dale Jansen Trustee 1 0 X 0 0 0 Darren Jirsa Trustee 1 0 X 0 0 0 Mary Kelly Trustee 1 0 X 0 0 0 Dan Keough Trustee 1 0 X 0 0 0 John Krantz Trustee 1 0 X 0 0 0 Lisa Kruidenier Trustee 1 0 X 0 0 0 Jeanne Levitt Trustee 1 0 X 0 0 0 Warren May Trustee 1 0 X 0 0 0 Michael Miller Trustee 1 0 X 0 0 0 Pat Schneider Trustee 1 0 X 0 0 0 Craig Shadur Trustee 1 0 X 0 0 0 Mike Simonson Trustee 1 0 X 0 0 0 Dennis Young Trustee 1 0 X 0 0 0 Kyle Krause President 1 0 X X 0 0 0 Pat McFarland Vice President 1 0 X X 0 0 0 Toni Urban Vice President 1 0 X X 0 0 0 Stacy Polydoran Secretary 1 0 X X 0 0 0 James Wallace Treasurer 1 0 X X 0 0 0 James Hubbell III Chairperson and Ex-Officio 1 0 X X 0 0 0 Jeff Fleming Director 40 0 X X 251535 0 0 Cheryl Tuttle Director of Finance and Operations 40 0 X 131334 0 0 382869 0 0 2 0 1 0 0 0 410315 166195 0 65000 3990386 65000 4631896 Studio Classes & Programs 611600 363734 363734 0 0 Sales of commissioned print 900099 23725 23725 0 0 Reproduction & loan fees 900099 18817 18817 0 0 Exhibition catalog sales 900099 9353 9353 0 0 3650 3650 0 0 419279 2958567 0 0 2958567 0 0 0 0 0 0 0 0 51782 0 99419 0 -47637 0 -47637 0 -47637 0 0 0 189912 166195 129088 60824 0 60824 224862 122309 102553 0 102553 0 122574 122574 0 0 122574 8248056 541853 54916 3019391 0 0 0 0 0 0 0 0 412760 0 412760 0 0 0 0 0 2287583 1809399 71969 406215 35223 21472 9658 4093 386321 279954 38473 67894 178448 129483 19944 29021 0 0 0 0 16052 0 2035 14017 31590 18975 2185 10430 0 0 0 0 0 0 0 0 0 0 86416 55020 0 31396 202678 165065 945 36668 255140 150879 37134 67127 89881 72641 4769 12471 0 0 0 0 470592 448225 5190 17177 95821 72994 11791 11036 0 0 0 0 25877 16215 4218 5444 0 0 0 0 0 0 0 0 706300 668854 7549 29897 176351 157333 12112 6906 Works of art purchased 2685385 2685385 0 0 Direct Program Expenses 341477 341477 0 0 Conservation of works of art 130888 130888 0 0 102643 58593 9694 34356 8717426 7282852 650426 784148 1393456 2409000 146359 137761 554820 631585 72747 97513 0 0 0 0 0 0 116710 108020 127782 147172 19846783 14307871 6075345 5538912 45894754 49753600 0 0 0 0 0 0 55702839 66271327 110084812 125094890 206061 1440063 0 0 0 0 0 0 0 0 0 0 0 0 0 0 343125 380557 549186 1820620 X 24453772 25482260 6617593 8355376 78464261 89436634 109535626 123274270 110084812 125094890 -469370 14208014 0 0 0 0 X 0 1 X 1 0 X 1646330 3713729 2284234 3261724 4631896 15537913 0 0 0 0 0 0 0 0 0 0 0 0 1646330 3713729 2284234 3261724 4631896 15537913 3656930 11880983 2149692 2170837 2766569 3112010 2958567 13157675 -31310 -49304 -71145 -60234 -151559 -363552 0 0 0 0 0 0 28332036 2226160 0.41935 0.44257 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 1 44356122 634217 4816926 0 1907250 0 47900015 46092781 252305 -255807 0 1733157 0 44356122 43556735 243366 3982945 0 1690265 0 46092781 35918159 637292 8536171 0 1534887 0 43556735 33150457 208641 4012654 0 1453593 0 35918159 0.37 0.48 0.15 0 0 0 0 0 0 18574061 13144469 5429592 0 0 0 0 0 1272722 1163402 109320 0 0 0 0 5538912 Funds held in trust 66271327 66271327 0 Deferred compensation 380557 380557 X 22806885 14208014 0 0 350815 14558829 8248056 0 0 0 8248056 9068241 0 0 0 350815 350815 8717426 0 0 0 8717426 Schedule D, Part III, Line 1 The collections, which were acquired through purchases and contributions since the Foundation's inception, are not recognized as assets on the statements of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. Schedule D, Part III, Line 4 In keeping with its mission, the Foundation collects works of art from the 19th, 20th, and 21st centuries. Its permanent collections focus on masterpiece quality post 1945 and contemporary international art and are acclaimed for the scholarly import awarded to them. Of the approximately 5,000 objects in the collections, approximately 3,000 are works on paper that range from Rembrandt, Goya, and Durer to the present. There are regular presentations of artworks in the exhibition galleries at the Foundation. Selected objects from the permanent collections are shown as part of special exhibitions either at the Foundation or in museums throughout the world. When not on exhibit at the Foundation or on loan to museums for temporary exhibitions, the objects are cared for in climate controlled storage areas. The Foundation maintains policies and procedures addressing the collections' upkeep, as well as other aspects of its management, including accession and deaccession policies. Schedule D, Part V, Line 4 The Foundation's endowment consists of several individual funds established for a variety of purposes and includes both donor restricted endowment funds and funds designated by the Board of Trustees (the Board) to function as endowments. The Foundation has a policy of appropriating for distribution each year 4.5% of its endowment fund's average fair value over the prior 12 quarters through the second quarter preceding the fiscal year in which the distribution is planned. Single gifts exceeding $200,000 are deducted from this calculation and a specific appropriation of 4.5% of such gifts is allowed for the 12 quarters following these gifts. In establishing this policy, the Foundation considered the long term expected return on its endowment. Accordingly, over the long term, the Foundation expects the current spending policy to allow its endowment to grow or maintain the principal of the endowment gifts. This is consistent with the Foundation's objective to maintain the purchasing power of the endowment assets held in perpetuity or for a specified term as well as to provide additional real growth through new gifts and investment return. Schedule D, Part X, Line 2 The Foundation recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Interest and penalties on unrecognized tax benefits are classified as other noninterest expense. As of December 31, 2016 and 2015, the Foundation had no material unrecognized tax benefits. Schedule D, Part XI, Line 2d Direct costs netted against revenues, including cost of goods sold, special events direct expenses, and rental expenses. Schedule D, Part XII, Line 2d Direct costs netted against revenues, including cost of goods sold, special events direct expenses, and rental expenses. Gala Black Tie Event 192230 166195 26035 0 0 0 24047 2200 28085 Patron Trips 82605 0 82605 0 0 0 0 0 52219 1 81272 0 81272 0 0 0 8199 0 14338 356107 166195 189912 0 0 0 32246 2200 94642 129088 60824 X X X 0 0 0 0 0 0 0 0 0 Jeff Fleming Director 251535 0 0 0 0 0 25000 0 24768 0 301303 0 300083 0 Schedule J, Part I, Line 3 The Executive Committee of the Board of Trustees reviews and determines the compensation of the Director, which is voted on and approved by the full board. They review any potential conflicts of interest, of which there were none in 2016. They use primarily the American Association of Museum Directors' (AAMD) salary comparisons as a guide to determine comparable compensation of similarly qualified persons in functionally comparable positions at similarly situated organizations. This review is documented with written notes regarding the compensation agreement reached after discussion between the Executive Committee (or its representative, the president of the Board of Trustees) and the Director. X 70 0 n/a X 65000 sales value 3 0 1 0 Schedule M, Part I, Line 33 The Foundation's collections are not recognized as assets on the statements of financial position as allowed by GAAP and recommended by the American Association of Museums (AAM). Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements as allowed by GAAP and disclosed in our audited financial statements. Form 990, Part VI, Section B, Line 11b All members of the Board of Trustees were provided a copy of the Form 990 prior to filing. The Finance Committee, as delegated by the Board of Trustees, reviewed the Form 990 prior to providing a copy to the Board. Form 990, Part VI, Section B, Line 12c The Foundation's Code of Ethics applies to all trustees, employees and volunteers. A Conflict of Interest Questionnaire is completed annually by trustees and employees. Potential conflicts identified are investigated by the Trusteeship Committee. Trustees with actual conflicts do not participate in deliberations or vote on the matter in question. Potential employee conflicts are investigated by the Director and/or the Director of Finance & Operations Form 990, Part VI, Section B, Line 15 The Executive Committee of the Board of Trustees reviews and determines the compensation of the Director, which is voted on and approved by the full board. They review any potential conflicts of interest, of which there were none in 2014. They use primarily the American Association of Museum Director's (AAMD) annual salary comparisons as a guide to determine comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. This review is documented with written notes regarding the compensation agreement reached after discussion by the Executive Committee or its representative, the President of the Board of Trustees, and the Director. For key employees of the organization, the (AAMD) annual salary comparisons are used as the primary guide to determine comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. Form 990, Part VI, Section C, Line 19 The Foundation's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Appropriate extensions were filed, but not through the efile site.