2017-05-12T13:02:13-05:00 2016-06-30 263753134 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2015-07-01 042103607 MUSEUM OF FINE ARTS MUSE 6173693281 465 HUNTINGTON AVENUE BOSTON MA 02115 MARK B KERWIN DEPUTY DIRECTOR AND C.F.O. 6173693281 2017-05-10 1 CBIZ TOFIAS P00030126 6177610600 2017-05-09 2015 2021-01-29 14:40:06Z MATTHEW TEITELBAUM 465 HUNTINGTON AVENUE BOSTON MA 02115 280257486 0 X WWW.MFA.ORG X 1870 MA SEE SCHEDULE O. 40 39 1451 1220 259158 146509 62715771 49185691 35014733 31794735 36992847 16753242 16299815 15526190 151023166 113259858 4266000 3549283 0 0 53565386 54107378 0 0 5600854 79350914 85292929 137182300 142949590 13840866 -29689732 1186415963 1106045872 200340844 198049672 986075119 907996200 X SEE SCHEDULE O. 0 0 18601257 2523614 EDUCATION PROGRAMS:THE MUSEUM MAINTAINS AN ONGOING SERIES OF EDUCATION PROGRAMS AND ACTIVITIES AT OUR FACILITY IN BOSTON IN ORDER TO FURTHER THE MISSION OF THE MUSEUM AND PROVIDE EDUCATIONAL OPPORTUNITIES IN ART. EDUCATION PROGRAMS COVER A WIDE SPECTRUM OF TOPICS AND INCLUDE A VARIETY OF STUDIO ART CLASSES AND WORKSHOPS FOR CHILDREN, TEENS AND ADULTS, LECTURES, FILMS, CONCERTS, A VARIETY OF OTHER COURSES, FREE DEMONSTRATIONS AND TALKS IN THE GALLERIES, FREE WORKSHOPS FOR EDUCATORS, SCHOOL GROUP TOURS, PARTNERSHIPS WITH LOCAL AREA SCHOOLS, AFTER-SCHOOL PROGRAMS AND COMMUNITY GROUPS TO ENGAGE YOUTH IN ARTS AND PROGRAMS FOR FAMILY VISITS TO THE MUSEUM. OVER 123,000 VISITORS PARTICIPATED IN THESE VARIOUS PROGRAMS. 19686135 4284259 EXHIBITIONS:WITH A COLLECTION OF NEARLY 500,000 OBJECTS, THE MUSEUM OWNS SOME OF THE MOST RARE AND IMPORTANT ARTISTIC TREASURES IN THE WORLD. SUCH A COLLECTION ENABLES THE MUSEUM TO PRESENT MANY SPECIAL EXHIBITIONS WITH A BALANCE BETWEEN SCHOLARLY PROGRAMS AND THOSE WITH BROAD PUBLIC APPEAL. DURING FISCAL YEAR 2016, THE MUSEUM PRESENTED MORE THAN 25 EXHIBITIONS. SOME HIGHLIGHTS INCLUDE: YOURS SINCERELY, JOHN S SARGENT (JULY 25, 2015 - NOV 15, 2015); NATURE, SCULPTURE, ABSTRACTIONS, AND CLAY 100 YEARS OF AMERICAN CERAMICS (JAN 17, 2015 - JAN 3, 2016); CRAFTED: OBJECTS IN FLUX (AUG 25, 2015 -JAN 10, 2016); CLASS DISTINCTIONS: DUTCH PAINTING IN THE AGE OF REMBRANDT AND VERMEER (OCT 11, 2015 - JAN 18, 2016); MADE IN THE AMERICAS: THE NEW WORLD DISCOVERS ASIA ( AUG 18, 2015 - FEB 15, 2016); FRIDA KAHLO: DOS MUJERES (JAN 27, 2016 - MARCH 1, 2016); IN THE STEPS OF THE MASTER: PUPILS OF HOKUSAI (AUG 29, 2015 - APRIL 3, 2016); SURFACE MATTERS (OCT 31, 2015 - APRIL 10, 2016); THE IDEA OF NORTH: THE PAINTINGS OF LAWREN HARRIS (MARCH 12, 2016 - JUNE 12, 2016); VISITING MASTERPIECES: PAIRING PICASSO ( FEB 13, 2016 - JUNE 26, 2016); #TECHSTYLE (MARCH 6, 2016 - JULY 10, 2016); MEGACITIES ASIA (APRIL 3, 2016 - JULY 17, 2016); HIRO PHOTOGRAPHS (DEC 12, 2015 - AUG 14, 2016); KENNETH PAUL BLOCK ILLUSTRATIONS (DEC 12, 2015 - AUG 14, 2016); LONDON AND EDO: CITIES ON THE RISE (APRIL 3, 2016 - OCT 23, 2016); RUINED: WHEN CITIES FALL (APRIL 3, 2016 - OCT 23, 2016); ETC. 26445093 3549283 18323794 SCHOOL OF THE MUSEUM OF FINE ARTS PROGRAM:THE SCHOOL OF THE MUSEUM OF FINE ARTS (THE SCHOOL) IS A MEMBER OF THE NATIONAL ASSOCIATION OF SCHOOLS OF ART AND DESIGN. (THE SCHOOL IS NOT A SEPARATELY INCORPORATED ORGANIZATION AND IS A DIVISION OF THE MUSEUM). COURSES ARE OFFERED IN CERAMICS, DRAWING, FILM AND ANIMATION, FOUNDATIONS, GLASS, METALS, PAINTING, PERFORMANCE, PHOTOGRAPHY, PRINTMAKING AND PAPERMAKING, SCULPTURE, SOUND, TEXT AND IMAGE ARTS, VIDEO, AND VISUAL AND CRITICAL STUDIES. THE SCHOOL AWARDS A DIPLOMA, TWO TYPES OF CERTIFICATES, AND THROUGH ITS AFFILIATION WITH TUFTS UNIVERSITY, MEDFORD, MA, OFFERS THREE UNDERGRADUATE AND TWO GRADUATE DEGREE PROGRAMS. IN ADDITION, THE SCHOOL OFFERS CONTINUING EDUCATION PROGRAMS. DURING THE 2015-16 ACADEMIC YEAR, THE SCHOOL HAD 980 STUDENTS ACROSS ALL PROGRAMS.ON MARCH 23, 2016 A DEFINITIVE AGREEMENT WAS REACHED BETWEEN THE MUSEUM OF FINE ARTS AND THE TRUSTEES OF TUFTS COLLEGE (TUFTS) IN WHICH THE MUSEUM AGREED TO TRANSFER AND ASSIGN TUFTS CERTAIN SPECIFIED ASSETS AND LIABILITIES THE MUSEUM USED IN THE OPERATION OF THE SCHOOL OF THE MUSEUM OF FINE ARTS (SMFA), EFFECTIVE ON JUNE 30, 2016. THE ASSETS TRANSFERRED INCLUDED INVENTORY, FURNITURE, EQUIPMENT AND ENDOWMENT FUNDS. 2293279 2585368 ENTERPRISE:THE MUSEUM'S RETAIL OPERATIONS OFFER FOR SALE IN ITS SHOPS OR THROUGH ITS WEB-BASED OUTLET A WIDE VARIETY OF MERCHANDISE RELATED TO THE MUSEUM'S COLLECTIONS AND SPECIAL EXHIBITIONS WHICH CONTRIBUTE IMPORTANTLY TO THE ACHIEVEMENT OF THE MUSEUM'S EXEMPT EDUCATIONAL PURPOSE BY MAKING WORKS OF ART FAMILIAR TO A BROADER SEGMENT OF THE PUBLIC. OFFERINGS AT THE SHOP INCLUDE ART BOOKS, POSTERS, CARDS, GLASS, TEXTILES, JEWELRY AND SCULPTURE.THE MUSEUM IS EXEMPT AS AN EDUCATIONAL ORGANIZATION ON THE BASIS OF ITS OWNERSHIP, MAINTENANCE, AND EXHIBITION FOR PUBLIC VIEWING OF WORKS OF ART. THE SALES OF SUCH ITEMS CONTRIBUTES IMPORTANTLY TO THE ACHIEVEMENT OF THE MUSEUM'S EXEMPT EDUCATIONAL PURPOSES BY STIMULATING AND ENHANCING PUBLIC AWARENESS, INTEREST, AND APPRECIATION OF ART. MOREOVER, A BROADER SEGMENT OF THE PUBLIC MAY BE ENCOURAGED TO VISIT THE MUSEUM ITSELF TO SHARE IN ITS EDUCATIONAL FUNCTIONS AND PROGRAMS AS A RESULT OF SEEING THE ITEMS SOLD. 40292212 OPERATING SUPPORT:OPERATING SUPPORT CONSISTS OF ALL OTHER AREAS OF THE MUSEUM, INCLUDING PROTECTIVE SERVICES, FACILITIES AND OTHER AREAS WHICH SUPPORT THE OPERATIONS OF THE MUSEUM AND ITS MISSION. 1108893 3689015 PARKING FACILITIES:THE MUSEUM OWNS A PARKING GARAGE AND HAS TWO OPEN AIR PARKING LOTS. ALL OF THESE FACILITIES ARE OPEN TO MEMBERS AND VISITORS TO THE MUSEUM. THE OPERATION OF ADJACENT PARKING LOTS BY THE MUSEUM, IN AREAS OF INSUFFICIENT PARKING SPACES FOR THE USE OF ITS VISITORS, CONTRIBUTES IMPORTANTLY TO THE MUSEUM'S EXEMPT PURPOSE BY ENCOURAGING VISITATION AND LONGER PERIODS VIEWING OF ITS COLLECTIONS, AND SPECIAL EXHIBITIONS. ANY PROFITS FROM THE FEE CHARGED FOR THE USE OF THE LOT IS PLACED IN THE GENERAL OPERATING FUND. 1176048 2449432 FOOD SERVICES:THE MUSEUM IS ORGANIZED AND OPERATED AS AN ART MUSEUM. THE EATING FACILITIES ARE OPEN TO THE MUSEUM STAFF, EMPLOYEES, AND MEMBERS OF THE PUBLIC VISITING THE MUSEUM AND ARE OF A SIZE COMMENSURATE WITH ACCOMMODATION OF THESE SPECIAL GROUPS OF PATRONS. THE FACILITIES ARE ACCESSIBLE FROM THE MUSEUM'S GALLERIES AND OTHER PUBLIC AREAS BUT NOT DIRECTLY ACCESSIBLE FROM THE STREET. THE PATRONAGE OF THE EATING FACILITIES BY THE GENERAL PUBLIC IS NOT DIRECTLY SOLICITED NOR ARE THE FACILITIES CONTEMPLATED OR DESIGNED TO SERVE AS A PUBLIC RESTAURANT BUT MERELY TO SERVE THE EXEMPT PURPOSES OF THE MUSEUM. THIS ALLOWS VISITORS TO DEVOTE MORE TIME TO THE MUSEUM'S EDUCATIONAL EXHIBITS, AND ENHANCES EFFICIENT MUSEUM OPERATION BY ENABLING STAFF TO REMAIN ON-SITE THROUGHOUT THE DAY. THE OPERATION OF THE EATING FACILITIES WITHIN THE MUSEUM PREMISES HELPS TO ATTRACT VISITORS TO THE MUSEUM EXHIBITS. BECAUSE THERE ARE PLACES OF REFRESHMENT IN THE MUSEUM, VISITORS ARE ABLE TO DEVOTE A GREATER PORTION OF THEIR TIME AND ATTENTION TO THE MUSEUM'S COLLECTION, EXHIBITS AND OTHER EDUCATIONAL FACILITIES. THE MUSEUM CREATES AN EDUCATIONAL PROGRAM FOR ITS PARTICIPANTS, FOCUSING ON AN EXHIBIT, LECTURE OR TOUR FOR PRIVATE AND CORPORATE FUNCTIONS. 3955208 6663069 MEMBERSHIP & VISITORS:OVER 1,182,000 VISITORS ATTENDED THE MUSEUM DURING FISCAL YEAR 2016. THE MUSEUM HAS AN ADMISSION CHARGE; HOWEVER, DURING THE FISCAL YEAR 2016, THERE WERE TEN COMMUNITY DAYS DURING WHICH ADMISSION CHARGES WERE WAIVED, AND THE MUSEUM HAS FREE ADMISSION "PAY AS YOU WISH" EACH WEDNESDAY EVENING. THE MUSEUM HAS APPROXIMATELY 66,000 ACTIVE MEMBER HOUSEHOLDS. THERE ARE 8 LEVELS OF ANNUAL MEMBERSHIP WITH FEES RANGING FROM $75 TO $1,000. EACH CATEGORY OFFERS A WIDE VARIETY OF PRIVILEGES, SUCH AS FREE ADMISSION, PUBLICATIONS, RECIPROCAL MEMBER BENEFITS AT OTHER MAJOR ART MUSEUMS AROUND THE U.S. AND SPECIAL EVENTS. 2430435 5376233 OTHER MISC. PROGRAM SERVICES: 51256075 20763117 115988560 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 0 1 0 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 1 0 0 0 1 1251 8 1 1451 1 1 1 0 0 0 0 1 1 0 0 0 0 X 40 39 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NY X X MARK B KERWIN CPA CFO 6173693281 465 HUNTINGTON AVENUE BOSTON MA 021155523 JILL AVERY ELECTED TRUSTEE - CHAIRMAN OVERSEERS 1.00 X X 0 0 0 EDWARD BAKER-GREENE ELECTED TRUSTEE 1.00 X 0 0 0 BETTINA BURR ELECTED TRUSTEE - VP OF THE BOARD OF TRUSTEE 1.00 X X 0 0 0 KEVIN CALLAGHAN ELECTED TRUSTEE - TREASURER 1.00 X X 0 0 0 HOWARD COX ELECTED TRUSTEE 1.00 X 0 0 0 DAVID CROLL ELECTED TRUSTEE - PRESIDENT OF BOARD OF TRUSTEE 1.00 X X 0 0 0 SUSAN DONAHUE ELECTED TRUSTEE 1.00 X 0 0 0 RONALD DRUKER ELECTED TRUSTEE 1.00 X 0 0 0 WILLIAM R ELFERS ELECTED TRUSTEE 1.00 X 0 0 0 STEPHEN FINE ELECTED TRUSTEE 1.00 X 0 0 0 DAVID GOEL ELECTED TRUSTEE 1.00 X 0 0 0 ABIGAIL ROSS GOODMAN ELECTED TRUSTEE 1.00 X 0 0 0 NICHOLAS GREVILLE ELECTED TRUSTEE 1.00 X 0 0 0 ELLEN JAFFE ELECTED TRUSTEE 1.00 X 0 0 0 KATHERINE KIRK ELECTED TRUSTEE 1.00 X 0 0 0 PATRICIA KRAFT ELECTED TRUSTEE 1.00 X 0 0 0 LIZBETH KRUPP ELECTED TRUSTEE 1.00 X 0 0 0 JEFFREY LEIDEN ELECTED TRUSTEE 1.00 X 0 0 0 RICHARD LUBIN ELECTED TRUSTEE 1.00 X 0 0 0 CARL MARTIGNETTI ELECTED TRUSTEE 1.00 X 0 0 0 P ANDREWS MCLANE ELECTED TRUSTEE 1.00 X 0 0 0 CAROL NOBLE ELECTED TRUSTEE 1.00 X 0 0 0 LEE PELTON ELECTED TRUSTEE 1.00 X 0 0 0 TIMOTHY PHILLIPS ELECTED TRUSTEE 1.00 X 0 0 0 SAMUEL PLIMPTON ELECTED TRUSTEE 1.00 X 0 0 0 AMY POORVU ELECTED TRUSTEE 1.00 X 0 0 0 THERESA STONE ELECTED TRUSTEE 1.00 X 0 0 0 LISBETH TARLOW ELECTED TRUSTEE - CHAIRMAN OF THE BOARD OF TRUSTEE 1.00 X X 0 0 0 PAMELA VOSS ELECTED TRUSTEE 1.00 X 0 0 0 CAROL WALL ELECTED TRUSTEE 1.00 X 0 0 0 MATTHEW WEATHERBIE ELECTED TRUSTEE - SECRETARY 1.00 X X 0 0 0 ROBERTA WEINER ELECTED TRUSTEE 1.00 X 0 0 0 DEBORAH BORNHEIMER APPOINTED TRUSTEE - BOSTON ATHENAEUM 1.00 X 0 0 0 TOMMY CHANG APPOINTED TRUSTEE - BOSTON PUBLIC SCHOOL 1.00 X 0 0 0 TARUN KHANNA APPOINTED TRUSTEE - HARVARD UNIVERSITY 1.00 X 0 0 0 ROBERT NAGLE APPOINTED TRUSTEE - SMFA BOARD OF TRUSTEES 1.00 X 0 0 0 CHRISTINE REIF APPOINTED TRUSTEE - MIT 1.00 X 0 0 0 JEFFREY RUDMAN APPOINTED TRUSTEE - BOSTON PUBLIC LIBRARY 1.00 X 0 0 0 DARLENE SALLAN APPOINTED TRUSTEE - MFA ASSOCIATES 1.00 X 0 0 0 MARTIN J WALSH APPOINTED TRUSTEE - MAYOR OF BOSTON 1.00 X 0 0 0 MALCOLM A ROGERS DIRECTOR 40.00 X 1517971 0 33238 MATTHEW TEITELBAUM DIRECTOR 40.00 X 439031 0 6542 CHRISTOPHER BRATTON DEPUTY DIR. & PRESIDENT OF SMFA 40.00 X 345279 0 42111 KATHERINE G GETCHELL DEPUTY DIRECTOR 40.00 X 407050 0 32606 MARK KERWIN DEPUTY DIRECTOR & CFO 40.00 X 394817 0 40753 MARIA MULLER DEPUTY DIRECTOR 40.00 X 333124 0 42324 CYNTHIA GLOTT DIRECTOR OF PLANNING/ADMIN 40.00 X 190736 0 33410 THOMAS CATALINI SR. DIRECTOR OF INFOMATION SYSTEM 40.00 X 184529 0 34959 SARAH MCKINNON SR. VP. FOR ACADMIC AFFAIR & DEAN 40.00 X 187425 0 30972 JANE O'REILLY-CORCORAN DIRECTOR OF HUMAN RESOURCES 40.00 X 177493 0 34294 ANNE COWIE SMFA VP OF INSTITUTIONAL ADVANCE 40.00 X 177109 0 30504 4354564 0 361713 63 0 1 0 CONNELLY PARTNERS LLC 46 WALTHAM ST 4TH FL BOSTON MA 02118 MEDIA 1669428 RESTAURANT ASSOCIATES P O BOX 91337 CHICAGO IL 60693 CATERING 1515977 C & W FACILITY SERVICES INC 4002 SOLUTIONS CENTER CHICAGO IL 60677 CLEANING SERVICES 1470820 ROPES & GRAY LLP 800 BOYLSTON ST BOSTON MA 02199 LEGAL SERVICES 848616 SP PLUS CORPORATION 115 BROAD ST BOSTON MA 02110 PARKING SERVICES 830862 54 9327601 73155 164233 39620702 7907197 49185691 TUITION SCHOOL 611600 18323794 18323794 ADMISSION FEES INCOME 713990 6663069 6663069 EXHIBITION INCOME 713990 4284258 4284258 EDUCATION PROGRAM REVENUE 611710 2523614 2523614 31794735 2693547 -174709 2868256 3876166 2456799 1419367 1419367 426398 992969 175108058 869203 161917566 0 13190492 869203 14059695 14059695 86000 73155 86695 -695 -695 5121936 2536568 2585368 2585368 OTHER ANCILLARY SERVICES 900099 5383702 5376233 7469 PARKING 812930 3689016 3689016 FOOD SERVICES 722100 2449432 2449432 11522150 113259858 45894784 259158 17920225 3549283 3549283 2934756 901561 1661978 371217 39268786 31591960 4893866 2782960 2609973 2012363 403679 193931 6109045 4845732 850237 413076 3184818 2455585 492589 236644 2553738 2553738 268882 60572 208310 306210 93000 213210 5142886 1158955 3919615 64316 3645184 3036416 608466 302 3146913 2777410 369503 2381304 2080260 121118 179926 1171304 129240 1038050 4014 6740586 6466807 273779 1458922 947374 399976 111572 4281611 3411790 869821 22549218 22016974 504787 27457 1025124 530612 494512 PURCHASE WORKS OF ART 11540782 8731882 2808900 EXHIBITION & SPEC. PROG 6966983 6966983 EQUIPMENT & RENTAL 5488942 5055131 394533 39278 OTHER MISC. PROGRAMS 1844993 846970 73714 924309 4779347 3767962 759533 251852 142949590 115988560 21360176 5600854 8905891 7335674 68032984 62967297 73663457 75633715 1578883 1803067 352995 352995 1760787 1504511 1911363 1095948 617745474 251345605 388326097 366399869 398134489 356904895 240011554 226218659 3737463 5829242 1186415963 1106045872 17494260 16042987 5047124 2995741 144649153 134696832 160340 144923 32989967 44169189 200340844 198049672 X 197448252 171372859 485425053 439622447 303201814 297000894 986075119 907996200 1186415963 1106045872 X -29689732 -16905494 570901 -32054594 X 0 1 X 1 1 1 X 53736302 45346308 75078952 62715771 49185691 286063024 53736302 45346308 75078952 62715771 49185691 286063024 12565397 273497627 2891464 2409488 2209404 2633469 2693547 12837372 522586 849234 2152998 1669765 147509 5342092 304242488 251432687 0.89890 0.89060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 620435527 8256829 -21087976 1031819 31766740 3711786 571094035 642074537 12847093 -19888803 907122 10235907 3454271 620435527 573881010 11013337 73529826 852272 9236497 6260867 642074537 536522379 8719819 44307413 800395 9610823 5257383 573881010 572150721 5742352 -29626689 766060 8241157 2736788 536522379 0.02010 0.46200 0.51790 1 0 20304653 20304653 541232349 216623074 324609275 54798086 34722531 20075555 1410386 1410386 366399869 200683000 F BENEFICIAL INTEREST IN PERPETUAL TRUSTS 20535659 F FUNDS HELD BY TRUSTEE 5000000 F 226218659 LIABILITY TO BE TRANSFERRED TO OTHERS 2218089 LINE OF CREDIT 815503 ASSET RETIREMENT OBLIGATION 7230991 LIABILITY UNDER INTEREST RATE SWAP 32613169 OTHER LIABILITIES 1291437 44169189 66327336 -16905494 570901 -26972837 -43307430 109634766 3711787 -86695 3625092 113259858 144406255 5168451 5168451 139237804 3711786 3711786 142949590 PART III, LINE 1A: IN ACCORDANCE WITH THE GENERAL PRACTICE OF ART MUSEUMS, THE COSTS OF WORKS OF ART ARE CHARGED DIRECTLY TO THE FUNDS AVAILABLE FOR SUCH PURPOSES AND ARE NOT CAPITALIZED. THE VALUE OF OBJECTS ACQUIRED BY GIFT CANNOT BE REASONABLY ESTIMATED AND, THEREFORE, ARE NOT RECORDED IN THE STATEMENT OF ACTIVITIES. PART III, LINE 4: THE MUSEUM OF FINE ARTS, BOSTON WAS FOUNDED IN 1870 FOR THE PURPOSES OF "ERECTING A MUSEUM FOR THE PRESERVATION AND EXHIBITION OF WORKS OF ART, OF MAKING, MAINTAINING AND EXHIBITING COLLECTIONS OF SUCH WORKS, AND OF AFFORDING INSTRUCTION IN THE FINE ARTS." THE COLLECTIONS ARE CENTRAL TO THE MUSEUM'S ENDEAVORS, AND TO FOSTERING THE UNDERSTANDING AND ENJOYMENT OF ORIGINAL WORKS OF ART. THE MFA IS ONE OF THE WORLD'S GREAT ENCYCLOPEDIC INSTITUTIONS AND AS SUCH ACTIVELY COLLECTS WORKS OF ART FROM ALL TIME PERIODS AND ACROSS ALL CONTINENTS. ALL THE WORKS OF ART CONTRIBUTE TO THE MUSEUM'S GUIDED TOURS, LECTURES, FILMS, GALLERY TALKS, CONCERTS, ARTS FESTIVALS, EDUCATION PROGRAMS, INTER-MUSEUM LOANS, PERMANENT, TEMPORARY AND TRAVELING EXHIBITIONS, WHICH FULFILL ITS MISSION. PART V, LINE 4: THE MUSEUM'S ENDOWMENT IS UTILIZED TO SUPPORT THE MISSION OF THE MUSEUM, INCLUDING THE PRESERVATION, EXHIBITION AND MAINTENANCE OF THE MUSEUM'S COLLECTION, AS WELL AS VARIOUS EDUCATION AND OTHER PROGRAMS OF THE MUSEUM. THE MUSEUM'S ENDOWMENT CONSISTS OF NEARLY 700 INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS -1,488,873. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS -8,653,558. COST OF SALES - MERCHANDISING OPERATIONS 2,536,568. RENTAL EXPENSES 2,030,402. TRANSFER TO OTHERS -21,397,376. PART XI, LINE 4B - OTHER ADJUSTMENTS: ART IN BLOOM EXPENSE NET WITH REVENUE -86,695. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES - MERCHANDISING OPERATIONS 2,536,568. ART IN BLOOM EXPENSE NET WITH REVENUE 86,695. RENTAL EXPENSES 2,030,402. TRANSFER TO OTHERS 514,786. PART XI, LINE 2D - TRANSFER TO OTHER - $-21,397,376: AS A RESULT OF THE MARCH 23, 2016 DEFINITIVE AGREEMENT BETWEEN THE MUSEUM OF FINE ARTS AND TRUSTEES OF TUFTS COLLEGE (TUFTS), THE MUSEUM AGREED TO TRANSFER AND ASSIGN TO TUFTS CERTAIN SPECIFIED ASSETS AND LIABILITIES OF THE SCHOOL OF THE MUSEUM OF FINE ARTS USED IN ITS OPERATIONS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT N/A 91608231 0 0 0 0 0 0 91608231 0 91608231 1 0 1 1 1 0 ART IN BLOOM 159155 73155 86000 86695 159155 73155 86000 86695 86695 -695 1 STUDENT FINANCIAL AID - OPERATING FUNDS SCHOLARSHIP 275 2648886 STUDENT FINANCIAL AID - ENDOWED FUNDS SCHOLARSHIP 150 692603 STUDENT FINANCIAL AID - EMPLOYEE WAIVERS 2 55172 STUDENT TRAVEL AWARDS 19 118047 FACULTY ENRICHMENT AWARD PROGRAMS 16 34575 PART I, LINE 2: 99% OF TOTAL GRANTS AND OTHER ASSISTANCE ARE RELATED TO INSTITUTIONAL FINANCIAL AID FOR WHICH STUDENTS APPLY THROUGH THE FINANCIAL AID OFFICE. ALL AID IS AWARDED BASED ON CERTAIN GUIDELINES AND IS CREDITED DIRECTLY TO STUDENTS' TUITION ACCOUNTS. ALL AWARDS ARE DIRECTLY RELATED TO THE STUDENTS' EDUCATION AT THE INSTITUTION'S PHYSICAL LOCATION IN THE UNITED STATES. IN ADDITION TO MANDATORY CLASS ATTENDANCE, STUDENTS ARE REQUIRED TO COMPLETE A REVIEW OF ART WITH INSTRUCTORS AT THE END OF EACH SEMESTER TO RECEIVE CREDIT. TRAVELING SCHOLAR GRANTS ARE AWARDED TO ALUMNI BASED UPON A PROPOSAL AND PORTFOLIO GRADING. TRAVELING SCHOLARS' WORKS ARE REVIEWD BY COMMITTEE A YEAR LATER AND ONE INDIVIDUAL IS SELECTED FOR A ONE PERSON SHOW AT THE MFA. FACULTY ENRICHMENT AWARDS ARE GIVEN TO CURRENT, ON-SITE FACULTY MEMBERS TO PURSUE VARIOUS PROJECTS. X X X 1 1 X X X X X 1 0 0 0 0 0 0 1 0 MALCOLM A ROGERS DIRECTOR 408952 0 666300 0 442719 0 23850 0 9388 0 1551209 0 318958 0 MATTHEW TEITELBAUM DIRECTOR 271931 0 100000 0 67100 0 0 0 6542 0 445573 0 0 0 CHRISTOPHER BRATTON DEPUTY DIR. & PRESIDENT OF SMFA 307942 0 0 0 37337 0 21227 0 20884 0 387390 0 0 0 KATHERINE G GETCHELL DEPUTY DIRECTOR 386435 0 20000 0 615 0 23850 0 8756 0 439656 0 0 0 MARK KERWIN DEPUTY DIRECTOR & CFO 373106 0 20000 0 1711 0 23850 0 16903 0 435570 0 0 0 MARIA MULLER DEPUTY DIRECTOR 320370 0 12000 0 754 0 21226 0 21098 0 375448 0 0 0 CYNTHIA GLOTT DIRECTOR OF PLANNING/ADMIN 189985 0 0 0 751 0 17579 0 15831 0 224146 0 0 0 THOMAS CATALINI SR. DIRECTOR OF INFOMATION SYSTEM 180601 0 3680 0 248 0 15026 0 19933 0 219488 0 0 0 SARAH MCKINNON SR. VP. FOR ACADMIC AFFAIR & DEAN 185291 0 0 0 2134 0 15181 0 15791 0 218397 0 0 0 JANE O'REILLY-CORCORAN DIRECTOR OF HUMAN RESOURCES 171512 0 5310 0 671 0 14451 0 19843 0 211787 0 0 0 ANNE COWIE SMFA VP OF INSTITUTIONAL ADVANCE 176739 0 0 0 370 0 14752 0 15752 0 207613 0 0 0 PART I, LINE 1A TAXABLE HOUSING ALLOWANCE OF $25,000 AND TAXABLE MOVING EXPENSES OF $42,100 WERE PAID TO MATTHEW TEITELBAUM BASED ON THE EMPLOYMENT CONTRACT. TAXABLE HOUSING ALLOWANCE OF $35,000 WAS PAID TO CHRISTOPHER BRATTON. SOCIAL CLUB DUES FOR CHRISTOPHER BRATTON OF $975 IS ALSO INCLUDED IN OTHER REPORTABLE COMPENSATION. MALCOLM ROGERS WAS PAID CERTAIN ADDITIONAL COMPENSATION OF $666,300 UPON HIS RETIREMENT REPRESENTING THE THIRD YEAR OF HIS EMPLOYMENT CONTRACT. TAXABLE HOUSING ALLOWANCE OF $36,058 WAS PAID TO MALCOLM ROGERS BASED ON THE EMPLOYMENT CONTRACT. THE EXECUTIVE/COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF THE MUSEUM OF FINE ARTS, APPROVED A DEFERRED COMPENSATION AGREEMENT FOR THE BENEFIT OF MALCOLM ROGERS. THE APPROVED DEFERRED COMPENSATION AGREEMENT WAS FOR A THREE YEAR PERIOD, BEGINNING JULY 1, 2013 AND ENDING JUNE 30, 2016. THE EXECUTIVE COMMITTEE DETERMINED IN ITS DISCRETION THE AMOUNT TO BE CREDITED TO THE ACCOUNT EACH RESPECTIVE FISCAL YEAR ENDING. A LUMP-SUM PAYMENT OF $318,958 WAS MADE UNDER THIS MULTI-YEAR DEFERRED COMPENSATION AGREEMENT. PART I, LINE 1B TRAVEL FOR COMPANIONS IS PERMITTED ONLY IF IT IS FOR A BONA FIDE BUSINESS PURPOSE DIRECTLY BENEFITTING THE MUSEUM AND WITH PRIOR APPROVAL BY THE DIRECTOR, OR DIRECTOR'S DESIGNEE, OR CHAIR OR PRESIDENT OF THE BOARD OF TRUSTEES. EXCEPT UNDER VERY RARE CONDITIONS, REIMBURSEMENT OF A COMPANION WILL CONSTITUTE TAXABLE INCOME TO THE TRAVELER. PART I, LINE 4A INCLUDED IN THE FINANCIAL STATEMENT IN SECTION PART IX, STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED JUNE 30, 2016 ARE CERTAIN COMPENSATIONS PAID TO CHRISTOPHER BRATTON AND SARAH MCKINNON, SUBSEQUENT TO THE W-2 REPORTED ON IN SCHEDULE J. PART I, LINE 7 A NON-FIXED AND DISCRETIONARY BONUS OF $100,000 WAS PAID TO MATTHEW TEITELBAUM, $ 20,000 EACH WAS PAID TO KATHERINE GETCHELL AND MARK KERWIN, $12,000 WAS PAID TO MARIA MULLER, $5,310 WAS PAID TO JANE O'REILLY-CORCORAN, AND $3,680 WAS PAID TO THOMAS CATALINI. A MASS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 042456011 57586CV69 2007-12-13 185000000 NEW MONEY FOR CONSTRUCTION 0 0 0 A 185802983 1134172 184668811 2010 0 0 1 1 A 0 1 1 0 0 0.01010 0.01010 0 0 1 A 0 0 1 0 1 1 BANK OF AMERICA 20.000000000000 0 0 0 0 1 A 1 SCHEDULE K, PART VI, SUPPLEMENTAL INFORMATION: PART I - BOND ISSUES, LINE A: COLUMN (C) ADDITIONAL CUSIP #57586CK95 PART IV - ARBITRAGE, LINE 3B: ADDITIONAL NAME OF PROVIDER: MERRILL LYNCH PART IV - ARBITRAGE, LINE 3C: ADDITIONAL TERM OF HEDGE: 3.08 YEARS PART IV -LINE 6: DID THE BOND ISSUE QUALIFY FOR AN EXCEPTION TO REBATE: THE MUSEUM'S BOND ISSUANCE IS NOT EXEMPTED FROM REBATE ANALYSIS. THE MUSEUM DID HAVE AN INDEPENDENT THIRD PARTY SPECIALIZING IN PERFORMING REBATE CALCULATION PERFORM THE CALCULATION AND DETERMINED THAT THE BONDS QUALIFY FOR AN EXCEPTION TO REBATE SET FORTH IN REGULATION SECTION 1.148-7. THE SCHEDULE K CALCULATION WAS PERFORMED BY AN INDEPENDENT THIRD PARTY WHICH SPECIALIZES IN PERFORMING THESE CALCULATIONS. THE FACTS AND CIRCUMSTANCES HAVE NOT CHANGED TO MATERIALLY AFFECT THE CALCULATION IN THE CURRENT PERIOD. THE MUSEUM'S BONDS WERE ISSUED IN DECEMBER 2007 AND MATURE IN 2037, A THIRTY YEAR PERIOD. THE PERCENTAGE CALCULATED AS PRIVATE BUSINESS USE IS FOR THE CURRENT FISCAL YEAR SPANNING JULY 1, 2015 THROUGH JUNE 30, 2016. THE OVERALL MEASUREMENT PERIOD FOR PRIVATE BUSINESS USE IS MEASURED OVER THE ENTIRE THIRTY YEAR TERM OF THE BOND. CHRISTOPHER BRATTON DEPUTY DIRECTOR TO PROVIDE BRIDGE FINANCING FOR THE PURCHASE OF THE EMPLOYEE'S HOME. X 200000 200000 0 1 1 MARIA MULLER DEPUTY DIRECTOR TO PROVIDE BRIDGE FINANCING FOR THE PURCHASE OF THE EMPLOYEE'S HOME. X 150000 152995 0 1 1 352995 MARTIGNETTI COMPANIESCARL MARTIGNE TRUSTEE 159865 MR. CARL MARTIGNETTI, A TRUSTEE OF THE MFA, IS PRESIDENT AND A SHAREHOLDER OF MARTIGNETTI COMPANIES AND AFFILIATED ENTITIES. MARTIGNETTI COMPANIES IS A LONG-TIME MFA VENDOR AND PROVIDES GOODS FOR THE MFA. 0 X 289 X 162 7907197 FAIR MARKET VALUE 47 0 1 0 PART I, LINE 33: IN ACCORDANCE WITH THE GENERAL PRACTICE OF ART MUSEUMS, THE COSTS OF WORKS OF ART ARE CHARGED DIRECTLY TO THE FUNDS AVAILABLE FOR SUCH PURPOSES AND ARE NOT CAPITALIZED. THE VALUE OF OBJECTS ACQUIRED BY GIFT CANNOT BE REASONABLY ESTIMATED AND, THEREFORE, ARE NOT RECORDED IN THE STATEMENT OF ACTIVITIES. SCHEDULE M, LINE 9: IT IS THE MUSEUM'S POLICY TO SELL SECURITIES IMMEDIATELY UPON RECEIVING SUCH DONATIONS. FORM 990, PART I, LINE 1 AND PART III, LINE 1: THE MUSEUM OF FINE ARTS HOUSES AND PRESERVES PREEMINENT COLLECTIONS AND ASPIRES TO SERVE A WIDE VARIETY OF PEOPLE THROUGH DIRECT ENCOUNTERS WITH WORKS OF ART. THE MUSEUM AIMS FOR THE HIGHEST STANDARDS OF QUALITY IN ALL ITS ENDEAVORS. IT SERVES AS A RESOURCE FOR BOTH THOSE WHO ARE ALREADY FAMILIAR WITH ART AND THOSE FOR WHOM ART IS A NEW EXPERIENCE. THROUGH EXHIBITIONS, PROGRAMS, RESEARCH AND PUBLICATIONS, THE MUSEUM DOCUMENTS AND INTERPRETS ITS OWN COLLECTIONS. IT PROVIDES INFORMATION AND PERSPECTIVE ON ART THROUGH TIME AND THROUGHOUT THE WORLD. THE MUSEUM HOLDS ITS COLLECTIONS IN TRUST FOR FUTURE GENERATIONS. IT ASSUMES CONSERVATION AS A PRIMARY RESPONSIBILITY WHICH REQUIRES CONSTANT ATTENTION TO PROVIDING A PROPER ENVIRONMENT FOR WORKS OF ART AND ARTIFACTS. COMMITTED TO ITS VAST HOLDINGS, THE MUSEUM NONETHELESS RECOGNIZES THE NEED TO IDENTIFY AND EXPLORE NEW AND NEGLECTED AREAS OF ART. IT SEEKS TO ACQUIRE ART OF THE PAST AND PRESENT WHICH IS VISUALLY SIGNIFICANT AND EDUCATIONALLY MEANINGFUL. THE MUSEUM HAS OBLIGATIONS TO THE PEOPLE OF BOSTON AND NEW ENGLAND, ACROSS THE NATION AND ABROAD. IT CELEBRATES DIVERSE CULTURES AND WELCOMES NEW AND BROADER CONSTITUENCIES. THE MUSEUM IS A PLACE IN WHICH TO SEE AND TO LEARN. IT STIMULATES IN ITS VISITORS A SENSE OF PLEASURE, PRIDE AND DISCOVERY WHICH PROVIDES AESTHETIC CHALLENGE AND LEADS TO A GREATER CULTURAL AWARENESS AND DISCERNMENT. THE MUSEUM CREATES EDUCATIONAL OPPORTUNITIES FOR VISITORS AND ACCOMMODATES A WIDE RANGE OF EXPERIENCES AND LEARNING STYLES. THE MUSEUM EDUCATES ARTISTS OF THE FUTURE THROUGH ITS SCHOOL. THE CREATIVE EFFORTS OF THE STUDENTS AND FACULTY PROVIDE THE MUSEUM AND ITS PUBLIC WITH INSIGHTS INTO EMERGING ART AND ART FORMS. THE MUSEUM'S ULTIMATE AIM IS TO ENCOURAGE INQUIRY AND TO HEIGHTEN PUBLIC UNDERSTANDING AND APPRECIATION OF THE VISUAL WORLD. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS THE 990 DURING A COMMITTEE MEETING. A COPY OF THE FULL 990 IS PROVIDED TO THE COMMITTEE, WHO REVIEW AND APPROVE THE 990 PRIOR TO ITS REVIEW BY THE FULL GOVERNING BODY. THIS REVIEW IS REPORTED TO THE BOARD AT ITS SPRING MEETING. THE FULL 990 IS MADE AVAILABLE TO THE GOVERNING BOARD VIA AN INTERNAL WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO SIGN CONFLICT OF INTEREST FORMS ON AN ANNUAL BASIS. COMPLETION OF THE FORMS IS TRACKED AND THE CONTENTS OF THE FORMS ARE REVIEWED BY THE MUSEUM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD MAINTAINS A COMPENSATION COMMITTEE. THIS COMMITTEE REVIEWS AVAILABLE DATA FROM THE MFA'S PEER MUSEUMS, AS WELL AS PARTICIPATING IN SURVEYS WITH PEER MUSEUMS CONCERNING COMPENSATION. THE COMMITTEE UTILIZED THE INFORMATION OBTAINED CONCERNING PEER MUSEUMS DIRECTORS' SALARY AND OTHER COMPENSATION INFORMATION, COMBINED WITH PERFORMANCE MEASUREMENT, TO DISCUSS AND DETERMINE APPROPRIATE COMPENSATION FOR THE DIRECTOR AND KEY OFFICERS. DOCUMENTATION OF PEER DATA ON COMPENSATION AND PERFORMANCE MEASUREMENT IS MAINTAINED. FORM 990, PART VI, SECTION C, LINE 19 THE MUSEUM'S FULL FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMMONWEALTH OF MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE, GUIDESTAR.ORG, AND UPON REQUEST FROM THE MUSEUM. CERTAIN EXCERPTS OF THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE MUSEUM'S WEBSITE (WWW.MFA.ORG). FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS -1,488,873. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS -8,653,558. TRANSFER TO OTHERS -21,912,163. MUSEUM ENTERPRISE PARTNERS INC 465 HUNTINGTON AVENUE BOSTON MA 02115 043554307 SALES OF ART AND RELATED MERCHANDISE DE MUSEUM OF FINE ARTS C 36573 1.00000 1 CHARITABLE REMAINDER UNITRUST 465 HUNTINGTON AVENUE BOSTON MA 02115 TRUST MA N/A T 1 CHARITABLE REMAINDER ANNUITY TRUST 465 HUNTINGTON AVENUE BOSTON MA 02115 TRUST MA N/A T 1 PERPETUAL TRUST 465 HUNTINGTON AVENUE BOSTON MA 02115 TRUST MA N/A T 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0