2017-04-19T14:45:47-07:00 2016-06-30 990 2015-07-01 366154098 MUSEUM OF CONTEMPORARY ART MUSE 3123973813 220 East Chicago Avenue Chicago IL 606112643 Peggy Papaioannou CFO and Assistant Treasurer 3123973813 2017-04-19 2015 2021-01-29 14:40:06Z Peggy Papaioannou 220 East Chicago Avenue Chicago IL 60611 39287691 0 X www.mcachicago.org X 1964 IL Enhance appreciation of contemporary art through education, programming and exhibitions (see statement on Part III Line 1). 70 70 412 263 -3787 0 31240809 20561734 4436919 1551404 119068 1757115 1066134 2569458 36862930 26439711 0 0 0 0 8997306 9446070 16740 21900 2393485 14414929 12454303 23428975 21922273 13433955 4517438 181989697 179389165 36416757 35991805 145572940 143397360 The MCA is an innovative and compelling center of contemporary art where the public can directly experience the work and ideas of living artists, and understand the historical, social and cultural context of the art of our time. The Museum boldly interweaves exhibitions, performances, collections, and educational programs to excite, challenge, and illuminate our visitors and to provide insight into the creative process. The MCA aspires to engage a broad and diverse audience, create a sense of community and be a place for contemplation, stimulation, and discussion about contemporary art and culture. 0 0 8057623 0 1215613 (4a) EXHIBITIONS:1) Kerry James Marshall: Mastery (Apr 23-Sep 25, 2016). The MCA presents a major museum survey of Kerry James Marshall (b. 1955); one of America's greatest living painters. Born before the passage of the Civil Rights Act, in Birmingham, Alabama, and witness at age of ten to the Watts riots, Marshall has long been an inspired and imaginative chronicler of the African American experience. He studied in Los Angeles with acclaimed social realist painter Charles White and is best known for his large-scale paintings featuring black figures and frequent references to art history-from the Renaissance to twentieth-century American abstraction-as well as his forays in vernacular forms such as the comic book and the muralist traditions. 2) The Freedom Principle: Experiments in Art and Music, 1965 to Now (Jul 11-Nov 22, 2015). The exhibition links the vibrant legacy of the 1960s African American avant-garde to current art and culture, both locally and globally. The exhibition combines historical materials with contemporary artistic responses to reveal a powerful ongoing conversation about experimentation, collective action, improvisation, and the search for freedom. 3) Pop Art Design (Dec 19, 2015-Mar 27, 2016). The spirit of pop not only manifested itself in Andy Warhol's paintings of Marilyn Monroe and Campbell's soup cans, it also influenced the look of chairs, sofas, lamps, and even architecture during the culturally ebullient 1960s and 1970s. Pop Art Design pairs iconic design objects with artworks from this celebrated era to show the cross-pollination between these creative worlds. Presented alongside a companion exhibition of classic pop works from the MCA collection, this exhibition offers a fresh perspective on this prevailing period of cultural production. 4) Artist in Residence: EIGHTH BLACKBIRD RESIDENCY (Sep 1, 2015-Jul 10, 2016). Eighth Blackbird, a Chicago-based music ensemble, takes up residence in the MCA galleries. The Grammy Award-winning group brings its private rehearsal work into the public arena, preparing new compositions live in the galleries. When the musicians were away, video and audio provide viewers with inside access to their process of making music. Founded in 1996 at Oberlin College, Eighth Blackbird has developed a style of music that is sometimes called "new music" or "contemporary classical." It can also be described as notated music, performed by classically trained musicians who draw on varied influences ranging from indie rock to medieval music to African drumming. Eighth Blackbird commissions composers to write new music, then prepares, rehearses, curates, and presents that music for audiences. 5) Ascendant Artists: Kathryn Andrews: Run for President (Nov 21, 2015-May 8, 2016). Through her work, Kathryn Andrews (American, b. 1973) samples the aesthetics of pop art, minimalism, and conceptualism as readymade, and re-inscribes them into new narratives about gender, class, and race. For her first solo museum exhibition in the United States, Kathryn Andrews: Run for President, Andrews situates her sculptures against a linear narrative that charts the rise and fall of the president-a metaphorical double for the figure of the artist as well as the viewer. In revealing cultural connections that are both humorous and critical, while questioning the consequences of seeing anything as fixed, Andrews demonstrates how meanings are always contingent and in flux. 6) Keren Cytter (Mar 28-Oct 4, 2015). New York-based multidisciplinary artist Keren Cytter (Israeli, b. 1977) plays with the conventions of narrative cinema to reveal or upend their unwritten rules. Her pared-down style of filmmaking utilizes the barest of resources to create the atmosphere of film noir, horror movies, or soap operas and revel in their familiar storylines-the twists and turns of love, sex, jealousy, murder, and revenge. Featuring nine videos from the past decade, Keren Cytter is the first large-scale presentation of the artist's work in the United States. The MCA's exhibition also includes a new series of drawings and live performance works from the artist. 7) BMO Harris Bank Chicago Works: Diane Simpson (Feb 16-Jul 3, 2016). Longtime member of Chicago's art community Diane Simpson (American, b. 1935) has gained recognition both nationally and internationally. Excerpts from Simpson's ambitious project Window Dressing, which originated as a commission from the Racine Art Museum, Wisconsin, make their Chicago premiere in this presentation. Each window display consists of an individual sculpture that is inspired by a piece of clothing or an accessory. The sculpture is set against a backdrop that incorporates the geometric patterns and streamlined curves of the Art Deco period, paying homage to the pioneering window dressers of the early twentieth century. To provide a glimpse into Simpson's working process, the exhibition also features trade manuals and journals of the 1920s and 1930s selected by the artist from her research, as well as scale models for the some of the finished works. 8) BMO Harris Bank Chicago Works: Ania Jaworska (Aug 25, 2015-Jan 31, 2016). Architect Ania Jaworska explores the built environment and society through drawings and scale models. Despite the weight of these issues, Jaworska's approach is marked by humor, irony, and a use of bold, minimalist forms. The artist presents two new projects that are at once works of art and architectural proposals for larger edifices. Rather than finished projects, this exhibition reveals a stage in the architect's process-the creation of forms that might become larger, built structures. The exhibition, which runs concurrently with the city's first Architecture Biennial, also features a series of drawings of architectural columns. 9) MCA DNA: Rafael Ferrer (Sep 19, 2015-Mar 6, 2016). Puerto Rican-born artist Rafael Ferrer has worked in a broad range of forms since first emerging as a national and international figure in the late 1960s. During the heyday of avant-garde explorations in the late 1960s and early 1970s, Ferrer was one of the prime instigators of a movement now called process art, which focused on the process of creating rather than on the resulting object. MCA DNA: Rafael Ferrer is part of an ongoing exhibition series featuring iconic works from the MCA Collection. 10) MCA Screen: Phil Collins (Jan 30-Aug 21, 2016). British artist Phil Collins's (b. 1970) work may seem lighthearted at first, but his sensitive explorations of the interconnectedness among diverse individuals have earned him serious attention, including a Turner Prize nomination. A first-generation Smiths fan, in 2004 he travelled to Bogotá and assembled a group of musicians to record an instrumental version of the band's 1987 album The World Won't Listen. He then invited Colombian fans to perform karaoke versions of their favorite Smiths songs. Simultaneously revealing pop culture's ubiquity and the personal meaning each song holds for the performers, Collins contributes to a larger movement in contemporary art- one in which questions of performance intersect with trajectories of identity formation, self-expression, and confession. 11) Jos De Gruyter and Harald Thy (Aug 8, 2015-Jan 17, 2016). Brussels-based, Belgian artists Jos de Gruyter and Harald Thys have been working collaboratively since the late 1980s. Although their primary medium is video, their practice has expanded in recent years to include sculpture, photography, drawing, and even painting. In fact, painting, as the traditional incarnation of the idea of art, lies at the center of their largest installation to date, Im Reich der Sonnenfinsternis (In the empire of the solar eclipse, 2010-11), the sole work on view in this installment of the MCA Screen series. The inclusion of this work in the MCA Screen series emphasizes its affinity with the significant surrealist undercurrent in the MCA collection, evident in the museum's holdings of work by original masters such as René Magritte as well as more contemporary representatives such as Kai Althoff, Tony Oursler, and Cindy Sherman. 12) MCA Chicago Plaza Project: Alexandre Da Cunha (Jul 18, 2015-Jun 5, 2016). Brazilian artist Alexandre da Cunha (b. 1969) is a poet of found materials. Rarely making objects from scratch, he instead finds wondrously creative ways to repurpose already-existing items. For the MCA's ongoing Plaza Project series, da Cunha presents objects of an urban scale to address this particular site, including Mix (Americana) (2013), a full-scale cement mixer liberated from its typical location on the back of a delivery truck, and precast concrete sewer pipes-like those coursing underneath Chicago-in order to reveal their inherent if overlooked beauty. 2475612 0 91999 4(b) EDUCATION:The MCA is Chicago's only museum dedicated to the art of our times. As an integral component of the museum's mission, the MCA offered a full range of educational programs during the 2015-2016 program years for its various audiences including students, families, adults, teachers, and teens. Education programs continue to serve a diverse pool of Chicago Public Schools students and teachers, and are provided to all Illinois school audiences on a complimentary basis to facilitate access and encourage broad participation. A) The MCA continued its successful school tour programs for students in grades 1 -12. These tours, all led by practicing artists, continue to be the cornerstone of our Education programs and provide the broadest exposure to contemporary art for students in grades 1-12. This year, we reached 9,223 students from 147 schools; 110 of these schools serve student bodies that are at least 80 percent low income. B) The MCA's program for 15-19 year olds, Teen Creative Agency (TCA), completed its fifth year during the summer 2016, and the first 3 groups of teens have now segued into program alumni. Guided by two local artists who facilitated the weekly sessions, TCA members led in-gallery activities, took monthly trips to cultural organizations, Chicago neighborhoods and artist studios, and worked alongside MCA staff and artists on projects. C) From its origins as a week-long summer experience, the MCA Teacher Institute has evolved into a year-long immersive and intensive professional development program for teachers. During this year's Institute, teachers used contemporary art and MCA resources to explore their teaching practice, experiment with curriculum, and collaborate with other teachers. D) Our popular Family Day programming continued with more than 4000 people participating in the program. Families with children under the age of 12 receive complimentary admission on the second Saturday of each month, October - May. E) As part of our wide-ranging Education programs, the MCA presented a diverse range of public programs including conversations, lectures, and panels that explore the visual and intellectual complexities of contemporary art and design and their connection to culture and history. 1535304 0 219511 (4c) PERFORMANCES: The MCA Stage presents cutting-edge dance, theater, and music from Chicago and abroad in order to push the boundaries of modern performance. In its 2015-2016 season, the MCA Stage featured 26 artists/groups in 55 performances. MCA Stage performances saw approximately 12,500 attendees to their performances in the fiscal year 2016. 1) Eighth Blackbird: Hand Eye (January 23-24, 2016) connected the expressive powers of two dynamic groups in one vibrant project. The six members of new music group Eighth Blackbird paired with Sleeping Giant, a collective of six remarkable composers. Each composer wrote a different section of the piece in reference to a work of visual art, and each section highlighted a different Eighth Blackbird musician. The entire performance was saturated in projections created by CandyStations, who has designed and performed live concert visuals for artists such as Sufjan Stevens, Bright Eyes, and St. Vincent. 2) Presented as a part of IN>TIME FESTIVAL, Toshiki Okada's God Bless Baseball (January 28-30, 2016) was wrought with the playwright-director's odd and unmistakable logic. Choosing baseball as its central metaphor, the new play explored how Asians assimilate and change American exports such as sports, pop culture, and the military. Known for his uncanny critiques of the forces and tensions in our daily exchanges and body language, Okada dialed in deeper by casting both Japanese and Korean actors. Inextricably connected, Japanese actors played Korean roles and Korean actors Japanese roles, all while America cast its shadow from the wings. God Bless Baseball featured the visual design of multimedia artist Tadasu Takamine. The show was performed in Japanese and Korean with English subtitles. 3) Originally presented in 1994, Speak Bitterness (February 20, 2016) is a seminal but rarely performed work by widely influential British theater ensemble, Forced Entertainment. Directed by world-renowned theater artist Tim Etchells, Speak Bitterness features a group of penitents who, over a period of six hours, undertake the enormous task of confessing to everything. Occupying a brightly lit space, a group of performers behind a long table take turns competing to confess the most horrific, amusing, or convincing things-from crimes as serious as forgery, murder, or genocide to nasty little indiscretions, such as reading others' diaries and not taking the dog out for a walk. Somewhere between a mad catalogue of human infamy and a strange and comical show-trial, this exhaustive work draws on the culture of confession in our society at large. In addition to Speak Bitterness, Forced Entertainment brought two other performances to the MCA Stage as a part of the 2016 IN>TIME FESTIVAL- The Notebook (February 18-19, 2016), which tells the story of a pair of twin brothers evacuated to their grandmother's impoverished farm in order to take shelter from the conflict of World War II, and (In)Complete Works: Table Top Shakespeare (February 25-27, 2016), a selection performances taken from Forced Entertainment's new marathon Complete Works project, where condensed versions of every Shakespeare play ever written have been created as a series of lovingly made miniatures, played out on a square tabletop using a collection of ordinary, everyday objects as characters. 4) Historia de Amor (April 7-10, 2016) was presented by Chilean theater company Teatrocinema, and based off of the French graphic novel of the same name. Two projection screens, comic-book-style artwork and acting, 2d and 3d video footage, and traditional staging aided the group in telling the terrifying modern story of young Sofia, a girl kidnapped by an English teacher and given no choice but to accept her situation and turn inwards for solace. Historia de Amor utilized two projection screens in a unique stage setup- employing set design to distance the viewer both emotionally and physically. The first screen, a translucent scrim, divided the stage in order to facilitate the projection of animated images onto and around the actors. Behind the stage, another screen projected background images and scenography. Through a deft combination of digital imaging, mirrors, and intricate staging and choreography, Teatrocinema achieved a seamless fusion of live art and cinema. This, combined with the comic-book aesthetic and black-and-white palette of the animation, highlighted the fragmented, solitary psyches of Sofia and her captor with more nuance than theater or film could alone. 5) A 24-Decade History of Popular Music: 1956-1986 (April 12-16, 2016). Deemed "Ragingly original and bracingly radical..." by TimeOut New York, theater artist Taylor Mac returned to the MCA stage this season with judy's (Mac's preferred gender pronoun) essential A History of Popular Music. Mac built the project decade-by-decade and song-by-song (with each decade presented in a different US city), and the project culminated in 2016 with an epic 24-hour-long extravaganza that covered US history from the founding of our country in 1776 to present day. Mac arrived in Chicago clad in the brilliant costume creations of Machine Dazzle to present three decades (1956-1986) of this subjective history lesson. Mac's astute take on music and culture spanned from the times of civil rights struggles and the Stonewall Uprising to the disco era and beyond. Mac and judy's band built and presented a hilarious and healing community ritual from our shared history of music and life. 1432762 0 0 (4d-1) COMMUNICATIONS: The Communications team's focus is on reaching, understanding, and growing the MCA audience. They play a crucial role in activating the MCA as an audience-engaged platform for producing art, ideas, community, and conversation around the creative process. With a targeted mix of print, video, digital, and outdoor advertisements, as well as consistent editorial media coverage designed to build the MCA's reputation their work makes the museum widely visible in Chicago and out of town. The Visitor Experience team exists to ensure the audience experience is best-in-class. Collaborations with cultural partners (i.e. universities) is another important way the team promotes audience-sharing with the city. Online audiences benefit from substantive and interactive web resources that range from the museum's website and high-quality videos to our highly active social media presence on Twitter, Instagram, and Facebook pages. 275380 0 0 (4d-2) MEMBERSHIP 499530 0 0 (4d-3) FOOD SERVICE 489144 0 0 (4d-4) PARKING 1508178 0 0 (4d-5) DESIGN, PUBLISHING & NEW MEDIA 0 -189701 (4d-6) STORE 4204994 0 -189701 16273533 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 188 0 1 412 1 1 1 0 0 0 0 1 1 0 0 0 0 X 70 70 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X Peggy Papaioannou 3123973813 220 East Chicago Avenue Chicago IL 606112643 ANNE KAPLAN BOARD CHAIR 10 0 X X 0 0 0 LESLIE BLUHM VICE CHAIR AND TRUSTEE 5 0 X X 0 0 0 KING HARRIS VICE CHAIR AND AND TRUSTEE 10 0 X X 0 0 0 MARQUIS D MILLER VICE CHAIR AND TRUSTEE 5 0 X X 0 0 0 ROB BELLICK SECRETARY AND TRUSTEE 5 0 X X 0 0 0 MICHAEL O'GRADY TREASURER AND TRUSTEE 5 0 X X 0 0 0 SARA ALBRECHT TRUSTEE 2 0 X 0 0 0 MICHAEL ALPER TRUSTEE 2 0 X 0 0 0 JENNIFER AUBREY TRUSTEE 2 0 X 0 0 0 JULIE BERNSTEIN TRUSTEE 2 0 X 0 0 0 GERHARD BETTE TRUSTEE 2 0 X 0 0 0 MARLENE BRESLOW-BLITSTEIN TRUSTEE 2 0 X 0 0 0 MARC BROOKS TRUSTEE 2 0 X 0 0 0 MICHAEL CANMANN TRUSTEE 5 0 X 0 0 0 CAROL COHEN TRUSTEE 2 0 X 0 0 0 NANCY CROWN TRUSTEE 2 0 X 0 0 0 ROBERT DEFARES TRUSTEE 2 0 X 0 0 0 STEFAN EDLIS TRUSTEE 2 0 X 0 0 0 DONALD J EDWARDS TRUSTEE 2 0 X 0 0 0 ELISSA HAMID EFROYMSON TRUSTEE 2 0 X 0 0 0 LOIS EISEN TRUSTEE 5 0 X 0 0 0 LARRY FIELDS TRUSTEE 2 0 X 0 0 0 JAY FRANKE TRUSTEE 2 0 X 0 0 0 NICHOLAS GIAMPIETRO TRUSTEE 2 0 X 0 0 0 JAMES A GORDON TRUSTEE 2 0 X 0 0 0 KENNETH C GRIFFIN TRUSTEE 2 0 X 0 0 0 JACK GUTHMAN TRUSTEE 5 0 X 0 0 0 JOHN B HARRIS TRUSTEE 2 0 X 0 0 0 WILLIAM J HOKIN TRUSTEE 2 0 X 0 0 0 WILLIAM HOOD TRUSTEE 2 0 X 0 0 0 CYNTHIA HUNT TRUSTEE 5 0 X 0 0 0 DAVID JACOBSON TRUSTEE 2 0 X 0 0 0 GRETCHEN JORDAN TRUSTEE 2 0 X 0 0 0 LIZ LEFKOFSKY TRUSTEE 2 0 X 0 0 0 RON LEVIN TRUSTEE 5 0 X 0 0 0 JAMES H LITINSKY TRUSTEE 2 0 X 0 0 0 LAURA KEIDAN MARTIN TRUSTEE 2 0 X 0 0 0 SYLVIA NEIL TRUSTEE 5 0 X 0 0 0 KATE NEISSER TRUSTEE 2 0 X 0 0 0 MARTIN NESBITT TRUSTEE 2 0 X 0 0 0 JAY OWEN JR TRUSTEE 2 0 X 0 0 0 CAROL PRINS TRUSTEE 2 0 X 0 0 0 NAOMI MORI REESE TRUSTEE 2 0 X 0 0 0 EVE ROGERS TRUSTEE 2 0 X 0 0 0 CARI SACKS TRUSTEE 5 0 X 0 0 0 KRISTIN STEVENS TRUSTEE 2 0 X 0 0 0 MARJORIE SUSMAN TRUSTEE 2 0 X 0 0 0 SARA SZOLD TRUSTEE 2 0 X 0 0 0 KATHY TASLITZ TRUSTEE 2 0 X 0 0 0 DIA WEIL TRUSTEE 5 0 X 0 0 0 HELEN ZELL TRUSTEE 5 0 X 0 0 0 MARTIN E ZIMMERMAN TRUSTEE 2 0 X 0 0 0 MARILYNN B ALSDORF LIFE TRUSTEE 2 0 X 0 0 0 JOHN D CARTLAND LIFE TRUSTEE 2 0 X 0 0 0 MARSHALL FRONT LIFE TRUSTEE 2 0 X 0 0 0 HELYN D GOLDENBERG LIFE TRUSTEE 2 0 X 0 0 0 DORIS HOLLEB LIFE TRUSTEE 2 0 X 0 0 0 MARY ITTELSON LIFE TRUSTEE 2 0 X 0 0 0 DONALD KAUL LIFE TRUSTEE 2 0 X 0 0 0 JOHN C KERN LIFE TRUSTEE 2 0 X 0 0 0 SALLY MEYERS KOVLER LIFE TRUSTEE 2 0 X 0 0 0 LEWIS MANILOW LIFE TRUSTEE 2 0 X 0 0 0 BEATRICE CUMMINGS MAYER LIFE TRUSTEE 2 0 X 0 0 0 JUDITH NEISSER LIFE TRUSTEE 2 0 X 0 0 0 DORIS STERNBERG LIFE TRUSTEE 2 X 0 0 0 DARYL GERBER STOKOLS LIFE TRUSTEE 2 0 X 0 0 0 DONNA A STONE LIFE TRUSTEE 2 0 X 0 0 0 ALLEN M TURNER LIFE TRUSTEE 2 0 X 0 0 0 DAVID HARTT ARTIST TRUSTEE 2 0 X 0 0 0 MADELEINE GRYNSZTEJN PRITZKER DIRECTOR AND CHIEF EXECUTIVE OFFICER 40 0 X 482102 0 26537 TERESA SAMALA DE GUZMAN CHIEF OPERATING OFFICER 40 0 X 304728 0 7215 LISA M KEY CHIEF DEVELOPMENT OFFICER AND ASSISTANT SECRETARY 40 0 X 207748 0 22992 PEGGY PAPAIOANNOU CHIEF FINANCIAL OFFICER AND ASSISTANT TREASURER 40 0 X 165265 0 14872 MICHAEL DARLING CHIEF CURATOR 40 0 X 204742 0 28698 GWEN PERRY DAVIS DEPUTY DIRECTOR OF DEVELOPMENT 40 0 X 158818 0 14133 SUSAN CHUN CHIEF CONTENT OFFICER 40 0 X 156807 0 14591 MATTHEW RENTON DIRECTOR OF COMMUNICATIONS AND COMMUNITY - 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 1 19981796 450000 -794565 0 810860 0 18826371 20316017 0 387176 0 721397 0 19981796 18728947 0 2196793 0 609723 0 20316017 17077566 196444 1951619 0 496682 0 18728947 17370190 93317 51828 0 437769 0 17077566 0 0.93 0.07 0 0 0 3523259 3523259 0 58646264 27246266 31399998 0 0 0 0 0 7074085 5366778 1707307 0 0 0 0 36630564 Offshore Common Stock Funds Mutual Funds 44793516 F Large Cap Equities Mutual Funds 18520321 F International Equities Mutual Funds 14405996 F Mid Cap Equities Mutual Funds 7315112 F Multifamily Portfolio LTD Partnership 1408000 C 86442945 Derivatives Mark to Market 2324781 Rental Deposits 184955 2509736 X 32143889 0 14767 0 7444701 7459468 24684421 79459 1675831 1755290 26439711 25097283 14767 0 0 3239702 3254469 21842814 79459 0 79459 21922273 Schedule D, Part III, Line 1 In conformity with the practice commonly followed by most American art museums, the value of the Museum's collection is not included in the financial statements. Contributions for the purchase of art objects, the proceeds from deaccessions of art and the cost of art objects purchased are reported as other changes in net assets in the statement of activities. The Museum's policy is to maintain and continue to acquire significant works of contemporary art (principally 1945 to present). From time to time, objects may be sold in accordance with the Museum's collection management policy. Deaccessions may result if one of the following conditions has been met: (a) physical condition has deteriorated to a point beyond display or study; or (b) an object is believed to be no longer pertinent to the scope of the Museum's collection. All proceeds realized from deaccessions are allocated to purchase other works of art. There were no deaccessions for the years ended June 30, 2016 and 2015, respectively. Schedule D, Part III, Line 4 The collection is comprised of approximately 5,361 objects in all media created during the twentieth and twenty-first centuries. Through exhibitions, preservation and research, the collection supports the museum's mission to be an innovative and compelling center of contemporary art where the public can directly experience the work and ideas of living artists, and understand the historical, social and cultural context of the art of our time. Schedule D, Part V, Line 4 The endowment funds are used to support the Museum's operations, subject to a spending policy. The Museum draws 5.0% of the average market value of assets over a 12 quarter period ending with the prior 12/31. Schedule D, Part X, Line 2 The Museum's application of accounting principles generally accepted in the United States of America regarding uncertain tax positions has no effect on its financial position as management believes the Museum has no material unrecognized income tax benefits or losses, including any potential risk of loss of its not-for-profit status. The Museum would recognize interest and penalties related to unrecognized tax positions in interest and income tax expense, respectively. However, the Museum has no amounts accrued for interest or penalties as of June 30, 2016 and 2015. Schedule D, Part XI, Line 2d Investment Spending Policy Draw $4,205,000; Rental Expenses $548,711; COGS (Store) $2,645,271; Limited Edition $45,719. Schedule D, Part XI, Line 4b Dividends and Interest $172,344; Realized Gains $1,503,487. Schedule D, Part XII, Line 2d Rental Expenses $548,711; COGS (Store) $2,645,271; Limited Additions $45,719; Rounding $1. Europe (including Iceland and Greenland) 0 0 Program Services Artist Fees 249161 South America 0 0 Program Services Artist Fees 200421 Europe (including Iceland and Greenland) 0 0 Investments 2491440 Central America and the Caribbean 0 0 Investments 51319615 0 0 54260637 1 0 0 1 1 0 X X X X X X 1 Marts and Lundy 1200 Wall Street West Lyndhurst NJ 07071 Provides fundraising consulting for mail, email, and in person solicitations. 0 0 18150 -18150 0 18150 -18150 IL Vernissage 248908 170242 78666 0 0 0 63609 0 35304 Art Auction 3792566 484736 3307830 0 0 0 300548 0 566090 0 4041474 654978 3386496 0 0 0 364157 0 601394 965551 2420945 X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MADELEINE GRYNSZTEJN PRITZKER DIRECTOR AND CHIEF EXECUTIVE OFFICER 482102 0 0 0 0 0 13250 0 13287 0 508639 0 0 0 TERESA SAMALA DE GUZMAN CHIEF OPERATING OFFICER 304728 0 0 0 0 0 0 0 7215 0 311943 0 0 0 MICHAEL DARLING CHIEF CURATOR 204742 0 0 0 0 0 10748 0 17950 0 233440 0 0 0 LISA M KEY CHIEF DEVELOPMENT OFFICER AND ASSISTANT SECRETARY 207748 0 0 0 0 0 10728 0 12264 0 230740 0 0 0 PEGGY PAPAIOANNOU CHIEF FINANCIAL OFFICER AND ASSISTANT TREASURER 165265 0 0 0 0 0 8397 0 6475 0 180137 0 0 0 MATTHEW RENTON DIRECTOR OF COMMUNICATIONS AND COMMUNITY 159051 0 0 0 0 0 0 0 18300 0 177351 0 0 0 GWEN PERRY DAVIS DEPUTY DIRECTOR OF DEVELOPMENT 158818 0 0 0 0 0 7894 0 6239 0 172951 0 0 0 SUSAN CHUN CHIEF CONTENT OFFICER 156807 0 0 0 0 0 7689 0 6902 0 171398 0 0 0 HEIDI REITMAIER DIRECTOR OF EDUCATION 141825 0 0 0 0 0 7095 0 12543 0 161463 0 0 0 Schedule J, Part I, Line 1a Two first class tickets for the Pritzker Director, $1,884, and one first class ticket for the Chief Operating Officer, $747. First class travel was booked because business and economy class tickets were not available at that time. Schedule J, Part I, Line 3 The Compensation Committee annually reviews performance, goal achievements, peer data, surveys, etc., when setting the annual salary for the Pritzker Director / Chief Executive Officer. The Committee reviews salaries of senior management and also approves the annual allocation to the staff salary increase pool. The Committee documents its findings in writing, and employees are not present when their compensation is set. X 11 0 N/A X 0 N/A X 28 553044 Transferred Value 0 0 1 0 Schedule M, Part I, Line 33 In conformity with the practice commonly followed by most American art museums, the value of the Museum's collection is not included in the financial statements. Contributions for the purchase of art objects, the proceeds from deaccessions of art and the cost of art objects purchased are reported as other changes in net assets in the statement of activities. The Museum's policy is to maintain and continue to acquire significant works of contemporary art (principally 1945 to present). From time to time, objects may be sold in accordance with the Museum's collection management policy. Deaccessions may result if one of the following conditions has been met: (a) physical condition has deteriorated to a point beyond display or study; or (b) an object is believed to be no longer pertinent to the scope of the Museum's collection. All proceeds realized from deaccessions are allocated to purchase other works of art. There were no deaccessions for the years ended June 30, 2016 and 2015, respectively. Form 990, Part VI, Section A, Line 2 The following trustees have a family relationship: 1) Judith Neisser and Kate Neisser; and 2) Michael Alper and Helyn Goldenberg. The following trustees have a business relationship: 1) Anne Kaplan has business relationships with Loise Eisen, Larry Fields, Sally Kovler, Elizabeth Lefkofsky and Dia Weil; 2) Robert Bellick and James Gordon; 3) Michael Canmann and Nancy Crown; and 4) Kenneth Griffin and James Gordon. Form 990, Part VI, Section B, Line 11b Review of the IRS Form 990 was delegated to the audit committee. After review a draft copy of Form 990 was emailed to all board members. After a 30 day review period, the Form 990 is then filed electronically with the IRS. Form 990, Part VI, Section B, Line 12c The Museum maintains a Conflict of Interest Policy which applies to all trustees, members of standing committees, as well as senior management and other designated members of staff. The Policy requires that each person to whom the policy applies complete the annual disclosure statement to identify any business, financial or personal interest in matters relating to the Museum. The Policy forbids such individuals from voting on or using their personal influence in connection with such matters. In event the Museum does conduct business with such related party, the financial terms of those relationships are reported annually to the Audit Committee, whose members must be independent per the terms of the charter. Form 990, Part VI, Section B, Line 15 The Compensation Committee annually reviews performance, goal achievement, peer data, surveys, etc., when setting the annual salary for the Pritzker Director / Chief Executive Officer. The Committee reviews salaries of senior management and also approves the annual allocation to the staff salary increase pool. The Committee documents its findings in writing, and employees are not present when their compensation is set. Form 990, Part VI, Section C, Line 19 Upon request, the Museum provides the information. Form 990, Part IX, Line 11g Consulting and contract labor ($1,329,903), artist fees ($311,201), honoraria ($161,383) and event entertainment ($33,261). Form 990, Part XI, Line 9 Collection acquisitions ($1,118,783); Unrealized loss on derivatives ($146,214); rounding $3