2017-08-11T13:34:25-05:00 2016-09-30 GREEN HASSON & JANKS LLP 10990 WILSHIRE BLVD 16th FLOOR LOS ANGELES CA 900243929 990 2015-10-01 954739699 Petersen Automotive Museum Foundation PETE 3109646356 6060 Wilshire Boulevard Los Angeles CA 90036 Terry Karges executive director 3109646356 2017-08-10 1 Lizbeth G Nevarez P01399868 3108731600 2015 2021-01-29 14:40:06Z Terry Karges 6060 Wilshire Boulevard Los Angeles CA 90036 23314382 0 X www.petersen.org X 1999 CA DEDICATED TO THE EXPLORATION AND PRESENTATION OF THE AUTOMOBILE AND ITS IMPACT ON AMERICAN LIFE. 11 11 140 135 690521 25716 113866598 11583925 173069 4071104 -111292 -12524472 1032128 3022506 114960503 6153063 0 0 0 0 3559623 5364586 150000 135333 1052661 5974872 12973613 9684495 18473532 105276008 -12320469 223291827 226409200 52920747 65872495 170371080 160536705 X THE PETERSEN AUTOMOTIVE MUSEUM FOUNDATION IS DEDICATED TO THE EXPLORATION AND PRESENTATION OF THE AUTOMOBILE AND ITS IMPACT ON GLOBAL LIFE AND CULTURE USING LOS ANGELES AS THE PRIME EXAMPLE. THE MUSEUM FOUNDATION OBTAINS, PRESERVES AND DISPLAYS VINTAGE, CLASSIC AND OTHER RARE OR VALUABLE AUTOMOBILES AND OBJECTS WITH THE PURPOSE OF EDUCATING THE PUBLIC AS TO THE CULTURAL, SOCIAL AND ENVIRONMENTAL EFFECTS FROM THE RISE OF THE AUTOMOBILE. 0 0 15160893 4598327 Public education programs are offered to school children, seniors, families, automotive enthusiasts, and the general public, through the museum exhibits, lectures, events, tours, and programs conducted in the community. The museum collects, preserves and interprets historically significant vehicles and automotive-related artifacts. Public Programs provide focused and deeper learning about the content in the 25 new galleries. The museum offers gallery talks, special tours, film screenings, author presentations, hands-on workshops, seminars, and lectures to engage adult audiences in life-long learning and fun educational experiences. 15160893 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 56 0 1 140 1 1 1 0 0 0 0 1 1 0 0 0 1 0 X 11 11 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X Eitan Ginsburg 3239646364 6060 wilshire blvd los angeles CA 90036 Peter Mullin Chair 5.00 X X 0 0 0 David Sydorick Vice Chair 2.00 X X 0 0 0 Bruce Meyer Vice Chair 2.00 X X 0 0 0 Richard Varner Treasurer 2.00 X X 0 0 0 William Ahmanson Secretary 1.00 X X 0 0 0 Greg Penske Director 1.00 X 0 0 0 Richard Roeder Director 1.00 X 0 0 0 Charles Nearburg Director 1.00 X 0 0 0 Michael Hammer Director 1.00 X 0 0 0 Lawrence Piro Director 1.00 X 0 0 0 Bobby Rahal Director 1.00 X 0 0 0 Terry Karges executive director 40.00 X 362979 0 6665 Adam Langsbard CMO 40.00 X 187169 0 12606 Eitan Ginsburg CFO 40.00 X 130135 0 16147 680283 0 35418 3 0 1 0 Matt Construction 9814 Norwalk Blvd Ste 100 Santa Fe Springs CA 90670 Construction contractor 37900972 The Scenic Route 13516 Desmond St Pacoima CA 91331 Exhibit design & fabrication 14852375 House & Robertson 10125 Washington Blvd Culver City CA 90232 Construction Architect 893555 Walker Real Estate Services 1215 S Grand Ave Pasadena CA 91105 Construction manager 251360 Kohn Pedersen Fox Associates 11 W 42nd st new york NY 10036 Architects 224246 14 1046858 1240025 9297042 1641533 11583925 Museum Admission Fees 900099 3818619 3818619 Membership Events 900099 252485 252485 4071104 863736 863736 1540744 0 1540744 1540744 1540744 1880668 1880030 13388846 638 -13388846 -13388208 -13388208 506325 1240025 1411513 -905188 -905188 4250 0 4250 4250 1008153 480930 527223 527223 Parking Fees 812930 1720525 690521 1030004 Other Income 900099 134952 134952 1855477 6153063 4598327 690521 -10719710 611214 438632 97191 75391 4034635 2872778 653099 508758 56300 32604 16931 6765 281797 251029 20078 10690 380640 299268 46662 34710 701142 701142 71513 71513 135333 135333 18068 18068 244290 178716 65574 401376 352883 14436 34057 39070 33185 2525 3360 831167 811928 16032 3207 74349 55429 2736 16184 6315777 6126304 157894 31579 657806 585983 46868 24955 Finance Charges 2239957 1856983 372894 10080 Exhibit Costs 580178 580178 Food and Beverage 304593 266110 1752 36731 Automobile Maintenance 90283 84052 2685 3546 404044 316763 35540 51741 18473532 15160893 2259978 1052661 5416927 5566518 16636621 17795997 166285 77698 136955 213798 173706 727982 166348688 7930810 159666742 158417878 33098464 34503722 7996127 9105607 223291827 226409200 12585346 1098323 335401 774172 40000000 40000000 0 24000000 52920747 65872495 X 163900832 152068506 6470248 8468199 170371080 160536705 223291827 226409200 X -12320469 2490241 -4147 X 0 1 X 1 0 X 2496075 2326392 13020230 113830671 11583925 143257293 2496075 2326392 13020230 113830671 11583925 143257293 100294278 42963015 116379 197075 912384 837573 2404480 4467891 25716 25716 113231 147768 16381 282586 1164956 1724922 149475822 15929337 0.28740 0.26370 X The organization received a large land donation in 2015 which caused public support to decrease. The organization is continually working on increasing their public support percentage. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1553000 9105607 X X 0 33098464 3353977 1948719 34503722 34607976 -843776 665736 33098464 32663526 2944450 1000000 34607976 32492102 546424 375000 32663526 1.00000 0 0 49650000 49650000 98395772 4849430 93546342 18264741 3081380 15183361 38175 38175 158417878 10712972 2490241 2069668 4559909 6153063 0 6153063 20547347 2069668 4147 2073815 18473532 0 18473532 Part III, Line 1a: In conformity with the practice followed by many museums, permanent collection items purchased by or donated to the Foundation are not capitalized in the statement of financial position. The Foundation's collection is made up of vehicles, motorcycles and objects that are held for exhibition and various other educational program activities. Each of the items is cataloged, preserved and cared for, and activities verifying their existence and assessing their condition are performed continuously. Purchased collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired. Contributed collection items are excluded from the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. Deaccession proceeds are required by Foundation policy to be applied to the acquisition of other items for the permanent collection. The Foundation also has access to the use of vehicles and objects that are loaned from various individuals and institutions for exhibit purposes. Part III, Line 4: THE COLLECTION IS MADE UP OF RARE AND COLLECTIBLE VEHICLES FOR THE EDUCATION OF THE GENERAL PUBLIC ABOUT TO THE CULTURAL, SOCIAL, TECHNOLOGICAL AND ENVIRONMENTAL DEVELOPMENT AND EFFECTS OF THE AUTOMOBILE. Part V, Line 4: The intention of the endowment is that the principal be preserved, and inflation protected, to provide for a continuous flow of annual distributions to support the operations of the Foundation. Part XII, Line 2d - Other Adjustments: bad debt expense 4,147. X X X X 1 Suzanne Buckner The Grant Writing 25120 Summerhill Lane Stevenson Ranch CA 91381 Grants 0 142000 32000 110000 South Coast Partnership 213 Park Ave Laguna Beach CA 92651 Sponsorship Leads 0 100000 20000 80000 Mark Alfano 150 Toro Canyon Rd Carpenteria CA 93013 Direct Solicitation 0 25000 83333 0 267000 135333 190000 CA Annual Gala Dinner 1746350 1240025 506325 243525 522250 169197 86412 390129 1746350 1240025 506325 243525 522250 169197 86412 390129 1411513 -905188 X X X 0 0 0 0 0 0 0 1 0 Terry Karges executive director 299979 0 63000 0 0 0 5783 0 882 0 369644 0 0 0 Adam Langsbard CMO 145969 0 41200 0 0 0 3969 0 8637 0 199775 0 0 0 Part I, Line 7 The executive Director's bonuses are approved by Board of Directors and communicated to the CFO to implement by the board chairman. Some bonuses for other staff members are part of a pre-structured compensation package, dependent on whether they achieve certain goals, and approved by the Exec Dir. Others are approved at the discretion of the Executive Director for particular merit or reason. A California Infrastructure and Economic Development Bank 630304653 000000000 2014-12-04 39600000 renovation of a building 0 0 0 A 39600000 11993 39588007 2015 0 0 1 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 X 5000 FMV X 9 1553000 fmv X 2 28513 Avg share price on date X Auction items 6 30668 FMV X Photography equip 1 17852 FMV, price to purcha X Custom car covers 1 6500 FMV 8 0 0 0 Part I, Column (b): Noncash donations are listed by total number of donors. Form 990, Part VI, Section A, line 2 Terry Karges and Richard Varner have a business relationship. Form 990, Part VI, Section B, line 11 the Form 990 is first reviewed by the cfo. it is then distributed and reviewed by all the board members prior to filing. Form 990, Part VI, Section B, line 12c THE ORGANIZATION REQUIRES THE BOARD OF DIRECTORS TO SIGN AN ANNUAL CONFLICT OF INTEREST STATEMENT NOTIFYING OF ANY CHANGES. THESE ARE MONITORED BY THE BOARD CHAIRMAN. TRANSACTIONS POTENTIALLY INVOLVING CONFLICTS ARE DISCLOSED TO BOARD AND INTERESTED PARTY IS RECUSED FROM PARTICIPATION IN THAT DECISION. Form 990, Part VI, Section B, line 15 Compensation for all officers is determined by the board based on market rates, individual pay history, and it is also compared to other organizations of similar employee size and/or budget size. This is reviewed annually by the board independently, without the participation of interested persons. Form 990, Part VI, Section C, line 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, line 9: Bad Debt Expense -4,147.