2017-05-10T07:05:18-05:00 2016-06-30 561138530 BUTLER & BURKE LLP 100 CLUB OAKS COURT SUITE A WINSTONSALEM NC 27104 990 2015-07-01 560810676 REYNOLDA HOUSE INC REYN 3367585150 PO BOX 7287 WINSTONSALEM NC 271097287 T DAVID NEILL TREASURER 3367585150 2017-05-02 1 JANE R POTTER P01057495 3367682310 2015 2021-01-29 14:40:06Z SEE SCHEDULE O ALLISON C PERKINS PO BOX 7287 WINSTONSALEM NC 271097287 2975943 0 X WWW.REYNOLDAHOUSE.ORG X 1964 NC REYNOLDA HOUSE OPERATES AS A MUSEUM DEDICATED TO THE PRESERVATION AND INTERPRETATION OF AN AMERICAN COUNTRY HOME AND A PREMIER COLLECTION OF AMERICAN ART. THROUGH ITS MISSION OF PROVIDING INNOVATIVE PUBLIC PROGRAMS AND EXHIBITIONS, THE MUSEUM OFFERS A DEEPER UNDERSTANDING OF AMERICAN CULTURE TO DIVERSE AUDIENCES AND INSPIRES THOSE WHO EXPERIENCE REYNOLDA HOUSE TO LEARN, IMAGINE, AND FIND MEANING IN THE ART COLLECTIONS AND HISTORIC SITE. 24 24 83 217 49051 27626 2035475 2040572 258619 447638 2476805 279528 17414 39375 4788313 2807113 1425 840 0 0 2292177 2344619 5213 0 421952 1919543 2191553 4218358 4537012 569955 -1729899 45539734 43971570 483127 771969 45056607 43199601 REYNOLDA HOUSE PRESERVES AND INTERPRETS AN AMERICAN COUNTRY HOME AND A PREMIER COLLECTION OF AMERICAN ART. THROUGH INNOVATIVE PUBLIC PROGRAMS AND EXHIBITIONS, THE MUSEUM OFFERS A DEEPER UNDERSTANDING OF AMERICAN CULTURE TO DIVERSE AUDIENCES. 0 0 3309609 840 520276 OPERATION OF A HISTORIC HOUSE AND AMERICAN ART MUSEUM, INCLUDING INTERPRETATION, PRESERVATION, AND EDUCATION. THE MUSEUM OFFERS CHANGING EXHIBITIONS IN ITS 2,789 SQUARE FOOT EXHIBITION GALLERY. EDUCATION PROGRAMS INCLUDE LECTURES, TOURS, PLAYS, COURSES, GALLERY TALKS, SYMPOSIA, SUMMER CAMPS, ETC. THE MUSEUM HOSTED APPROXIMATELY 55,400 VISITORS DURING THE YEAR. 3309609 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 22 0 1 83 1 1 1 0 0 0 0 1 1 0 0 0 0 X 24 24 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X REYNOLDA HOUSE - KIM HAMPTON 3367585126 2250 REYNOLDA ROAD WINSTONSALEM NC 27106 DIANNE N BLIXT PRESIDENT / DIRECTOR 5.00 X X 0 0 0 JOHN W DAVIS III PRESIDENT-ELECT / DIRECTOR 4.00 X X 0 0 0 JOHN W HOEMANN SECRETARY / DIRECTOR 2.50 X X 0 0 0 MCDARA P FOLAN III TREASURER / DIRECTOR 2.50 X X 0 0 0 BARBARA B MILLHOUSE FOUNDING PRESIDENT / DIRECTOR 2.50 X 0 0 0 BRUCE M BABCOCK DIRECTOR 1.00 X 0 0 0 GRACE M BROUGHTON DIRECTOR 1.00 X 0 0 0 PATRICIA A BROWN DIRECTOR 1.00 X 0 0 0 E GREER CAWOOD DIRECTOR 1.00 X 0 0 0 NOEL L DUNN DIRECTOR 1.00 X 0 0 0 SUE L HENDERSON DIRECTOR 2.00 X 0 0 0 BEVERLY C JENNINGS DIRECTOR 2.00 X 0 0 0 JOIA M JOHNSON DIRECTOR 2.50 X 0 0 0 SUSAN W MANN DIRECTOR 1.00 X 0 0 0 M MELINDA MCCONNELL DIRECTOR 2.00 X 0 0 0 T DAVID NEILL DIRECTOR 1.00 X 0 0 0 NANCY T PLEASANTS DIRECTOR 2.00 X 0 0 0 LLOYD P TATE JR DIRECTOR 1.00 4.00 X 0 0 0 GWYNNE S TAYLOR DIRECTOR 1.00 X 0 0 0 MARY CRAIG TENNILLE DIRECTOR 2.50 X 0 0 0 CRISTIN TIERNEY DIRECTOR 1.00 X 0 0 0 DAVID G TOWNSEND DIRECTOR 1.00 X 0 0 0 WALLACE C WU DIRECTOR 1.00 X 0 0 0 VINCENT R CIMMINO DOCENT CHAIR, EX-OFFICIO 1.00 X 0 0 0 NATHAN O HATCH PRESIDENT OF WAKE FOREST U 0.50 31.80 X 0 3941320 287707 ALLISON C PERKINS EXECUTIVE DIRECTOR 35.00 5.00 X 201498 11652 61133 201498 3952972 348840 1 0 1 0 FRANK L BLUM CONSTRUCTION COMPANY 830 NE 25TH STREET WINSTONSALEM NC 27105 POOL RESTORATION - GENERAL CONTRACTOR 103363 1 534077 100286 455000 6500 944709 90414 2040572 ADMISSIONS 712110 310976 310976 PROGRAMS & EVENTS 712110 123542 123542 NONDEDUCTIBLE FEES 712110 13120 13120 447638 12587 12587 263 263 266941 0 266941 266941 49051 217890 49915 100286 83441 -33526 -33526 155394 85389 70005 70005 MISCELLANEOUS 900099 2633 2633 2633 2807113 520276 49051 197214 840 840 266804 26680 133402 106722 1645027 1261917 203473 179637 134358 98084 19297 16977 153736 112800 21040 19896 144694 100241 23964 20489 13766 13766 16030 16030 298971 298971 182596 176238 1543 4815 134714 133592 1122 87779 57625 7747 22407 75373 60701 6084 8588 638 638 379366 363370 11119 4877 39745 22354 4759 12632 51003 22240 16774 11989 552966 535547 10230 7189 37482 37152 194 136 EQUIPMENT & GENERAL MAI 127018 123741 1941 1336 EXHIBITION FEES & EXPEN 122483 122483 MEMBERSHIP DUES 16778 3604 12379 795 STORAGE 15373 15373 39472 34389 2738 2345 4537012 3309609 805451 421952 4853 2896 1511571 2075912 1484916 745255 13071 10076 73917 81639 52593 37220 18501125 7319973 11307221 11181152 31066875 29811580 24717 25840 45539734 43971570 165214 243766 108634 319484 209279 208719 483127 771969 X 34973364 33693638 1363217 679190 8720026 8826773 45056607 43199601 45539734 43971570 -1729899 -127107 0 X X 0 1 X 1 0 X 1164412 2841548 3602963 2035475 2040572 11684970 1164412 2841548 3602963 2035475 2040572 11684970 2479513 9205457 487444 748258 637359 386667 12850 2272578 1797 14167 1664 2693 2633 22954 13980502 1974322 0.65840 0.60940 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 31066875 610206 151820 1718350 298971 29811580 31301743 813398 901926 1657189 293003 31066875 29783282 5102 3535796 1609123 413314 31301743 29330283 2448039 1689160 305880 29783282 30618107 423684 1440567 270941 29330283 0.69560 0.29040 0.01400 0 1 1 1122000 1122000 15151664 5692157 9459507 1793821 1624202 169619 433640 3614 430026 11181152 WFU INVESTMENT POOL 501923 F VERGER FUND II 29309657 F 29811580 AMOUNT DUE TO AFFILIATE 208719 208719 X 2549865 -127107 168830 41723 2508142 298971 298971 2807113 4406871 168830 168830 4238041 298971 298971 4537012 PART III, LINE 1A: REYNOLDA HOUSE HAS VARIOUS WORKS OF ART AND HISTORICAL TREASURES (APPROXIMATELY 4,250 ITEMS), WHICH INCLUDE THE ORIGINAL REYNOLDA HOUSE (APPROXIMATELY 30,000 SQUARE FEET) AND ITS CONTENTS, AS WELL AS PAINTINGS AND OTHER ITEMS SUBSEQUENTLY ACQUIRED. IN ACCORDANCE WITH ACCOUNTING FOR CONTRIBUTIONS, AN ENTITY NEED NOT RECOGNIZE SUCH ITEMS IN ITS FINANCIAL STATEMENTS IF THE ITEMS ARE ADDED TO COLLECTIONS HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. IF PURCHASED, THE COLLECTION ITEMS ARE EXPENSED, AND IF DONATED, THEY ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. THE WORKS OF ART AND HISTORICAL TREASURES ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER WORKS OF ART AND HISTORICAL TREASURES. REYNOLDA HOUSE'S PAINTINGS ARE CATALOGED FOR EDUCATIONAL, RESEARCH, SCIENTIFIC, AND CURATORIAL PURPOSES, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED ON AN ONGOING BASIS. THERE WERE NO PROCEEDS FROM SALE OF COLLECTION ITEMS OR PROCEEDS FROM INSURANCE RECOVERIES OF COLLECTION ITEMS AND THERE WERE NO PURCHASES OR DONATIONS OF COLLECTION ITEMS IN FISCAL YEAR 2016 OR 2015. PART III, LINE 4: REYNOLDA HOUSE IS RENOWNED FOR ITS COLLECTION OF AMERICAN ART. IN THE MID 1960S THE FOUNDING DIRECTORS SET OUT TO OBTAIN THE BEST EXAMPLES OF WORK FROM AMERICAN ARTISTS OF MAJOR SIGNIFICANCE. TODAY, MASTERPIECES FROM THREE CENTURIES OF PAINTING AND SCULPTURE MAKE UP THE COLLECTION, INCLUDING WORKS BY SUCH DISTINGUISHED ARTISTS AS ALBERT BIERSTADT, MARY CASSATT, FREDERIC CHURCH, JOHN SINGLETON COPLEY, THOMAS EAKINS, JACOB LAWRENCE, GEORGIA O'KEEFFE, AND GRANT WOOD. THE COLLECTION IS EXTRAORDINARY FOR ITS QUALITY AND PROVIDES AUDIENCES WITH A THOROUGH SURVEY OF MAJOR DEVELOPMENTS IN AMERICAN ART IN A WARM AND WELCOMING SETTING. PART V, LINE 4: THE MUSEUM'S ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS, ARE USED TO SUPPORT THE MUSEUM'S MISSION. PART X, LINE 2: REYNOLDA HOUSE IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "CODE") AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS RECORDED IN THE FINANCIAL STATEMENTS. IF APPLICABLE, UNRELATED BUSINESS INCOME IS REPORTED ON IRS FORM 990-T. FISCAL YEARS ENDING ON OR AFTER JUNE 30, 2013 REMAIN SUBJECT TO INCOME TAX EXAMINATIONS. MANAGEMENT EVALUATED REYNOLDA HOUSE'S TAX POSITIONS AND CONCLUDED THAT REYNOLDA HOUSE HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS AS OF JUNE 30, 2016 AND 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 83,441. COST OF GOODS SOLD 85,389. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 83,441. COST OF GOODS SOLD 85,389. SEE PART IV 150201 100286 49915 38649 27079 2015 15698 150201 100286 49915 38649 27079 2015 15698 83441 -33526 SCHEDULE G, PART II, EVENT #1: EVENT #1 - "AN EVENING FOR REYNOLDA" GALA ON OCTOBER 2, 2015. X 1 1 X X X 0 1 0 0 0 0 0 0 0 NATHAN O HATCH PRESIDENT OF WAKE FOREST U 0 839944 0 92000 0 3009376 0 224410 0 63297 0 4229027 0 2323444 ALLISON C PERKINS EXECUTIVE DIRECTOR 201253 11628 0 0 245 24 40858 4533 14941 801 257297 16986 0 0 PART I, LINE 1A SOCIAL CLUB DUES ARE PROVIDED BY THE ORGANIZATION WHEN MEMBERSHIP FULFILLS A MUSEUM BUSINESS PURPOSE. ALL SUCH DUES ARE MONITORED FOR PERSONAL USE AND INCLUDED IN TAXABLE COMPENSATION WHEN APPLICABLE. PART I, LINE 4B THE COMPENSATION OF NATHAN O. HATCH, PRESIDENT OF WAKE FOREST UNIVERSITY, A RELATED ORGANIZATION TO THE FILING ORGANIZATION, INCLUDES THE PAYOUT OF $2,893,501 (INCLUDED IN HIS 2015 W-2 INCOME) FROM HIS 10-YEAR, DEFERRED SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN ("SERP") PROVIDED BY THAT RELATED ORGANIZATION THE PREVIOUS ANNUAL ACCRUALS FOR WHICH TOTAL $2,323,444 AS SHOWN IN COLUMN F OF SCHEDULE J, PART II AND HAVE BEEN REPORTED ON PRIOR YEARS' FORMS 990. THE COLUMN C OF SCHEDULE J, PART II TOTAL FOR DR. HATCH OF $224,410 INCLUDES $197,910 AS THE YEAR 2015 ACCRUAL ON HIS SERP. PART II, ITEM 2: THAT PORTION OF THE COMPENSATION PAID TO THE FILING ORGANIZATION'S EXECUTIVE DIRECTOR, ALLISON PERKINS, SHOWN ON SCHEDULE J, PART II, ITEM (2) LINE (II) IS PAID BY THE RELATED (PARENT) ORGANIZATION OF THE FILING ORGANIZATION, WAKE FOREST UNIVERSITY, AND REFLECTS NEW RESPONSIBILITIES ASSIGNED TO THE EXECUTIVE DIRECTOR BY THE PARENT ORGANIZATION RELATING TO REYNOLDA GARDENS, REAL PROPERTY BELONGING TO THE PARENT ORGANIZATION AND ADJOINING THE REAL PROPERTY OF THE FILING ORGANIZATION. X 11 90264 FMV X SOFTWARE 1 150 FMV 0 1 1 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 32B: THE ADVANCEMENT OFFICE OF WAKE FOREST UNIVERSITY, A RELATED (PARENT) ORGANIZATION, PROCESSES ALL GIFTS (CASH AND NON-CASH) BY DATA ENTRY INTO ITS BANNER GENERAL LEDGER SYSTEM. FORM 990, PART VI, SECTION A, LINE 6 WAKE FOREST UNIVERSITY IS THE SOLE MEMBER OF REYNOLDA HOUSE, INC. WAKE FOREST UNIVERSITY HAS THE RIGHT, AS THE SOLE MEMBER, TO ELECT MEMBERS OF THE GOVERNING BODY, TO VOTE ON ACTIONS, AND APPROVE PROVISIONS OF THE BYLAWS BASED ON ARTICLE II OF THE BYLAWS OF REYNOLDA HOUSE, INC. FORM 990, PART VI, SECTION A, LINE 7A WAKE FOREST UNIVERSITY IS THE SOLE MEMBER OF REYNOLDA HOUSE, INC. AND ELECTS ITS DIRECTORS PER THE ARTICLES OF AMENDMENT OF REYNOLDA HOUSE, INC. DATED JANUARY 24TH, 2002 AND BYLAWS DATED APRIL 1, 2008 AND AFFILIATION AGREEMENT BETWEEN WAKE FOREST UNIVERSITY AND THE FILING ORGANIZATION DATED JANUARY 15, 2002. FORM 990, PART VI, SECTION A, LINE 7B WAKE FOREST UNIVERSITY, A RELATED ORGANIZATION, HAS THE RIGHT TO APPROVE OR RATIFY DECISIONS OF THE FILING ORGANIZATION'S GOVERNING BODY, SUCH AS APPROVAL OF THE GOVERNING BODY'S ELECTION OR REMOVAL OF MEMBERS OF THE GOVERNING BODY. NEITHER THE ARTICLES OF INCORPORATION NOR THE BY-LAWS OF FILING ORGANIZATION MAY BE AMENDED WITHOUT THE WRITTEN APPROVAL OF THE WAKE FOREST UNIVERSITY BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE FEDERAL FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, IS REVIEWED AND APPROVED BY THE FILING ORGANIZATION'S FINANCE COMMITTEE. THE FINAL 990 IS AVAILABLE AND EMAILED TO ALL BOARD DIRECTORS ONCE APPROVED BY THE FINANCE COMMITTEE AND BEFORE IT IS SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES OFFICERS, DIRECTORS, KEY EMPLOYEES, AND MUSEUM DEPARTMENT HEADS TO ANNUALLY REVIEW THE ORGANIZATION'S CONFLICTS OF INTEREST POLICY AND DISCLOSE ANNUALLY (AND AS THEY ARISE) ANY POTENTIAL CONFLICTS OF INTEREST. THE POLICY PROVIDES A PROCESS FOR THE DETERMINATION OF CONFLICTS OF INTEREST AND THE RESOLUTION OF POTENTIAL AND ACTUAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE, WHO ARE INDEPENDENT MEMBERS OF THE BOARD, REVIEWS THE ASSOCIATION OF ART MUSEUM DIRECTORS MOST RECENT COMPENSATION SURVEY TO RECOMMEND THE APPROPRIATE SALARY RANGE AND BENEFITS PACKAGE FOR THE EXECUTIVE DIRECTOR POSITION FOR APPROVAL BY THE EXECUTIVE COMMITTEE AND THEN FOR APPROVAL BY THE FULL BOARD AT THE JUNE MEETING. THE EXECUTIVE EVALUATION AND COMPENSATION COMMITTEE ENSURES WELL-DEFINED PROCESSES ARE IN PLACE FOR DETERMINING COMPETITIVE AND REASONABLE COMPENSATION FOR THE EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES OF THE FILING ORGANIZATION. AT THE PRESENT TIME, THE ONLY POSITION THAT NEEDS COMPENSATION EVALUATED BY THE COMMITTEE IS THE EXECUTIVE DIRECTOR POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S ARTICLES OF INCORPORATION ARE AVAILABLE TO THE PUBLIC ON REQUEST AND ARE AVAILABLE ON THE WEBSITE OF THE NORTH CAROLINA SECRETARY OF STATE. THE ORGANIZATION'S BYLAWS ARE NOT PUBLISHED, BUT PROVISIONS FROM THE BYLAWS ARE INCLUDED AS NECESSARY IN THE ORGANIZATION'S POLICIES. THE ORGANIZATION'S CONFLICTS OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC ON REQUEST. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XII, LINE 2C: THE OVERSIGHT/SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PAGE 1, LINE C: DOING BUSINESS AS: REYNOLDA HOUSE MUSEUM OF AMERICAN ART FORM 990, PART IV, LINE 12B & PART XII, LINE 2B: THE FILING ORGANIZATION IS INCLUDED IN THE CONSOLIDATED AUDITED FINANCIAL STATEMENTS OF WAKE FOREST UNIVERSITY, A RELATED (PARENT) ORGANIZATION. FORM 990, PART VII, SECTION A, COLUMN B - HOURS NATHAN O. HATCH FILING ORG 0.5 RELATED ORG 31.8 UNRELATED ORG 7.7 FORM 990, PART VII, SECTION A, COLUMN F: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN COLUMN F, PART VII AND IS NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. WAKE FOREST UNIVERSITY PO BOX 7201 WINSTONSALEM NC 27109 560532138 EDUCATION & RESEARCH NC 501(C)(3) LINE 2 N/A 0 WAKE FOREST UNIVERSITY FOUNDATION PO BOX 7201 WINSTONSALEM NC 27109 562038193 REAL ESTATE HOLDING & MANAGEMENT NC 501(C)(3) LINE 11A, I WAKE FOREST UNIVERSITY 0 WAKE FOREST UNIVERSITY HEALTH SCIENCES MEDICAL CENTER BLVD WINSTONSALEM NC 27157 223849199 MEDICAL EDUCATION, RESEARCH, AND PATIENT CARE NC 501(C)(3) LINE 2 WAKE FOREST UNIVERSITY 0 WAKE FOREST UNIVERSITY DEVELOPMENT FOUNDATION PO BOX 7201 WINSTONSALEM NC 27109 562038194 MANAGEMENT/SALE OF CHARITABLE REAL PROPERTY DONATIONS NC 501(C)(3) LINE 11A, I WAKE FOREST UNIVERSITY 0 VERGER FUND II LLC PO BOX 7354 WINSTONSALEM NC 27109 352514227 INVESTMENT NC WAKE FOREST UNIVERSITY HEALTH SCIENCES EXCLUDED -14178 29577967 0 0 0.07940 VERGER CAPITAL FUND LLC PO BOX 7354 WINSTONSALEM NC 27109 464027021 INVESTMENT NC N/A VERGER CAPITAL MANAGEMENT LLC PO BOX 7354 WINSTONSALEM NC 27109 464037343 INVESTMENT NC N/A 0 0 1 0 1 0 0 0 0 0 1 0 1 1 1 1 1 0 0