2025-11-17T21:02:07-06:00 2024-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2024-01-01 133540880 MUSEUM OF AMERICAN FINANCE MUSE 2129084110 360 WEST 31ST STREET FLOOR 6 NEW YORK NY 10001 DAVID COWEN PRESIDENT AND CEO 2129084619 2025-11-17 1 1 EVA MRUK P00543254 2122862600 2025-11-17 2024 2025-03-06 01:10:19Z X DAVID COWEN 360 WEST 31ST STREET FLOOR 6 NEW YORK NY 10001 2108170 0 X WWW.MOAF.ORG X 1982 NY TO PRESERVE, EXHIBIT AND TEACH ABOUT THE NATION'S FINANCE AND FINANCIAL HISTORY. 40 40 9 42 0 0 1517994 1932709 3870 20391 3796 6320 -115280 -77694 1410380 1881726 0 0 0 0 1236865 1282158 0 0 326260 412880 545402 1649745 1827560 -239365 54166 463184 686102 534577 670412 -71393 15690 X FINANCE IMPACTS EVERYONE. AS A SOCIALLY RELEVANT ORGANIZATION, THE MUSEUM OF AMERICAN FINANCE SEEKS TO IMPROVE UNDERSTANDING OF THE INFLUENCE OF FINANCIAL INSTITUTIONS AND CAPITAL MARKETS ON THE U.S. AND GLOBAL ECONOMIES, AND ON INDIVIDUALS' LIVES. THE NATION'S ONLY INDEPENDENT MUSEUM DEDICATED TO FINANCE AND FINANCIAL HISTORY EDUCATES THE PUBLIC THROUGH EXHIBITS, FINANCIAL LITERACY PROGRAMS AND PUBLIC EVENTS. THE MUSEUM, AN AFFILIATE OF THE SMITHSONIAN INSTITUTION, SEEKS TO EMPOWER INDIVIDUALS OF ALL BACKGROUNDS TO STRIVE TOWARD FINANCIAL INDEPENDENCE, WHILE ENCOURAGING CURIOSITY AND DISCOVERY. 0 0 664518 0 20077 COLLECTION AND EXHIBITION PROGRAMSIN 2024, THE MUSEUM SHOWCASED OBJECTS FROM ITS COLLECTIONS AT SEVERAL LOCATIONS, INCLUDING NEW YORK, ARIZONA, KENTUCKY AND MASSACHUSETTS. IN APRIL, IT OFFICIALLY LAUNCHED ITS NEW TRAVELING EXHIBIT, "FOUNDERS TO FUTURES: A COLLECTIONS SHOWCASE FROM THE MUSEUM OF AMERICAN FINANCE," WHICH FEATURES A SELECTION OF THE TENS OF THOUSANDS OF ARTIFACTS HELD BY THE MUSEUM. MANY DOCUMENTS HAVE BEEN SIGNED BY AMERICAN POLITICAL AND BUSINESS LEADERS FROM THE 18TH CENTURY THROUGH TODAY, WHILE OTHER OBJECTS HIGHLIGHT TECHNOLOGICAL INNOVATIONS THAT HAVE TRANSFORMED THE FINANCIAL SERVICES INDUSTRY. THIS EXHIBIT IS NOW AVAILABLE FOR BOOKING AT EVENTS AND VENUES ACROSS THE COUNTRY. ALSO IN 2024, THE MUSEUM AND ITS ARCHIVAL PRESERVATION PARTNER, HERITAGE WERKS, CONTINUED PHASE TWO OF THE WIDE-RANGING, MULTI-YEAR COLLECTION DIGITIZATION INITIATIVE, WHICH WAS MADE POSSIBLE THROUGH SUPPORT RECEIVED FROM PREVIOUS GALAS AND GENEROUS DONATIONS FROM MOAF BOARD MEMBERS. NEARLY 3,000 OF THE HIGHEST PRIORITY OBJECTS HAVE BEEN SCANNED, WITH THE SCANNING PROCESS CONTINUING IN 2025. HERITAGE WERKS ALSO PROVIDED ARCHIVAL SUPPORT FOR THE MUSEUM'S TRAVELING EXHIBITION, LOANS AND OTHER COLLECTIONS PROJECTS, HELPING TO MAKE THE COLLECTION MORE ACCESSIBLE FOR BOTH DIGITAL AND PHYSICAL INITIATIVES. 529084 0 314 COMMUNITY OUTREACH AND EDUCATIONFINANCIAL EDUCATION IS AT THE HEART OF THE MUSEUM'S MISSION, AND MORE THAN 113,300 STUDENTS HAVE PARTICIPATED IN ITS EDUCATION PROGRAMS. A HIGHLIGHT OF THE MUSEUM'S EDUCATIONAL INITIATIVES IS THE MUSEUM FINANCE ACADEMY (MFA), A UNIQUE PERSONAL FINANCE CERTIFICATE COURSE OFFERED FREE OF CHARGE TO HIGH SCHOOL JUNIORS AND SENIORS. THE PROGRAMWHICH IS CURRENTLY PRESENTED IN AN ONLINE FORMAT PROVIDES A FOUNDATION IN PERSONAL FINANCE. THIS PROGRAM IS OFFERED IN THE SPRING AND FALL, WITH THE OPPORTUNITY FOR THE TOP-ACHIEVING STUDENTS TO EARN PARTIAL COLLEGE SCHOLARSHIPS. IN 2023, THE MUSEUM EXPANDED THE MFA WITH A PILOT SUMMER PROGRAM IN PARTNERSHIP WITH THE NEW YORK PUBLIC LIBRARY, WHICH CONTINUED IN 2024; 1,190 STUDENTS PARTICIPATED IN THIS PROGRAM IN ITS FIRST TWO YEARS. THE MUSEUM ALSO OFFERS A ROBUST SERIES OF MORE THAN 30 PUBLIC EVENTS PER YEAR. AMONG THE DISTINGUISHED PARTICIPANTS ARE NOBEL LAUREATES AND INDUSTRY LEADERS, AS WELL AS AWARD WINNING AUTHORS. MUCH OF THE MUSEUM'S PROGRAMMING SHIFTED TO A VIRTUAL FORMAT IN MARCH 2020, LEADING TO AN EXPANDED NUMBER OF EVENTS AND A FOUR-FOLD INCREASE IN ATTENDANCE. IN 2024, PROGRAMS WERE OFFERED IN BOTH IN-PERSON AND VIRTUAL FORMATS. FEATURED SPEAKERS INCLUDED IAN BREMMER, PAULINA BREN, JOSH BROWN, JENNIFER BURNS, LAWRENCE CUNNINGHAM, TOM GAYNER, DONALD GRAHAM, MARK HIGGINS, RONALD OLSON, DANIEL SCHULMAN, TEVI TROY, FAREED ZAKARIA AND PAOLO ZANNONI, AMONG MANY OTHERS. FAREED ZAKARIA AND IAN BREMMER DISCUSSED ZAKARIA'S NEW BOOK, AGE OF REVOLUTIONS, AT A MOAF/FORDHAM GABELLI CENTER PROGRAM IN APRIL. THE MAJORITY OF THE MUSEUM'S PROGRAMS ARE PRESENTED IN PARTNERSHIP WITH THE FORDHAM UNIVERSITY GABELLI CENTER FOR GLOBAL SECURITY ANALYSIS. TWO SPONSORED PANEL DISCUSSIONS FOCUSED ON "AI AND FINANCE AND "CALLING THE SHOTS: INVESTING IN SPORTS." IN 2024, THE MUSEUM ALSO CONTINUED ITS PARTNERSHIP WITH THE NEW YORK PUBLIC LIBRARY'S THOMAS YOSELOFF BUSINESS CENTER ON A FREE FINANCIAL EDUCATION SERIES FOR ADULTS, TITLED "INVESTING A TO Z," AS WELL AS A FREE SERIES ON RETIREMENT PLANNING, TITLED "RETIREMENT A TO Z." BOTH OF THESE PROGRAMS ATTRACTED LARGE NATIONAL AND INTERNATIONAL AUDIENCESWITH NEARLY 7,000 TOTAL PARTICIPANTSAND CONTINUE IN 2025. 1193602 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 9 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 40 40 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 NY X X DAVID COWEN PRESIDENTCEO 2129084110 360 WEST 31ST STREET 6TH FLOOR NEW YORK NY 10001 PETER A COHEN CHAIR 1.00 X X 0 0 0 ANDREA DE CHOLNOKY CO-VICE CHAIR 1.00 X X 0 0 0 KAREN GEPHARDT CO-VICE CHAIR 1.00 X X 0 0 0 SANFORD F CRYSTAL TREASURER 1.00 X X 0 0 0 ALVI ABUAF TRUSTEE 1.00 X 0 0 0 PETER AKWABOAH TRUSTEE 1.00 X 0 0 0 SABRINA BAILEY TRUSTEE 1.00 X 0 0 0 GREGORY W BAUER TRUSTEE 1.00 X 0 0 0 DOUGLAS CIFU TRUSTEE 1.00 X 0 0 0 MARCY COHEN TRUSTEE 1.00 X 0 0 0 LAWRENCE CUNNINGHAM TRUSTEE 1.00 X 0 0 0 PATRICK CURTIN TRUSTEE 1.00 X 0 0 0 JOHN P DAVIDSON III TRUSTEE THRU MAY 2024 1.00 X 0 0 0 RIC EDELMAN TRUSTEE 1.00 X 0 0 0 CHARLES ELSON TRUSTEE 1.00 X 0 0 0 EILEEN FAHEY TRUSTEE 1.00 X 0 0 0 MARTIN FRIDSON TRUSTEE 1.00 X 0 0 0 ADAM GOLDSTEIN TRUSTEE 1.00 X 0 0 0 MARTHA CLARK GOSS TRUSTEE 1.00 X 0 0 0 CORY GUNDERSON TRUSTEE 1.00 X 0 0 0 KIRK HALDEMAN TRUSTEE 1.00 X 0 0 0 BRADFORD HU TRUSTEE THRU MAY 2024 1.00 X 0 0 0 CAROL KAIMOWITZ TRUSTEE 1.00 X 0 0 0 GLENN KAUFMAN TRUSTEE 1.00 X 0 0 0 RANCH KIMBALL TRUSTEE 1.00 X 0 0 0 MITTI LIEBERSOHN TRUSTEE 1.00 X 0 0 0 CONSUELO MACK TRUSTEE 1.00 X 0 0 0 JOE MECANE TRUSTEE 1.00 X 0 0 0 JORGE NARIO TRUSTEE 1.00 X 0 0 0 ANDERS NEMETH TRUSTEE 1.00 X 0 0 0 EAMON NOLAN TRUSTEE 1.00 X 0 0 0 ELIZABETH O'MELIA TRUSTEE 1.00 X 0 0 0 CHRIS PERRY TRUSTEE 1.00 X 0 0 0 BRAD PETERSON TRUSTEE 1.00 X 0 0 0 BOB PISANI TRUSTEE 1.00 X 0 0 0 SCOTT REDDEL TRUSTEE 1.00 X 0 0 0 MARK SHENKMAN TRUSTEE 1.00 X 0 0 0 DAVID L SHULER TRUSTEE 1.00 X 0 0 0 RICHARD SYLLA PH D TRUSTEE 1.00 X 0 0 0 SAUL VAN BEURDEN TRUSTEE 1.00 X 0 0 0 DENNISON VERU TRUSTEE 1.00 X 0 0 0 CHARLES V WAIT TRUSTEE 1.00 X 0 0 0 DAVID COWEN PRESIDENT/CEO 40.00 X 210000 0 7539 MINDY ROSS DIRECTOR OF EXTERNAL RELATIONS 40.00 X 160000 0 33336 KRISTIN AGUILERA DEPUTY DIRECTOR 40.00 X 127000 0 47621 LINDA RAPACKI MANAGING DIR. OF BUSINESS 40.00 X 111000 0 4878 608000 0 93374 4 0 1 0 CORE Z OPERATIONS LLC 1356 BROADWAY NEW YORK NEW YORK NY 10018 CATERING SERVICES 154536 1 2900 1359813 569996 17840 1932709 EXHIBIT CREATION FEES 611600 19837 19837 TOURS, LECTURES, SYMP. 611600 314 314 ADMISSION FEES 611600 240 240 20391 6320 6320 148750 1359813 226444 -77694 -77694 1881726 20391 0 -71374 217539 130523 21754 65262 761442 488139 111698 161605 9300 6082 1501 1717 225833 142810 30894 52129 68044 43017 9295 15732 10000 10000 60050 60050 17022 13553 2195 1274 27250 27250 41948 14433 26862 653 39833 31717 5135 2981 67893 47198 9075 11620 1360 1360 41058 32692 5293 3073 EDUCATION PROGRAMS 212555 212555 ORGANIZATIONAL MBRSHP 23578 23578 REPAIRS & MAINT. 2855 2273 368 214 1827560 1193602 307698 326260 273145 342530 29778 54546 0 188745 2050 1620 158211 98661 463184 686102 257445 228312 252132 442100 25000 0 534577 670412 X -310643 -506523 239250 522213 -71393 15690 463184 686102 54166 32917 0 X X 0 1 X 1 0 X 2000898 2016812 1534036 1517994 1932709 9002449 2000898 2016812 1534036 1517994 1932709 9002449 455565 8546884 1088 240 865 3796 6320 12309 9014758 128515 0.94810 0.92370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 139250 25000 5000 159250 14250 125000 139250 114250 100000 14250 9250 105000 114250 9250 9250 1.00000 0 0 0 X 1986726 105000 105000 1881726 0 1881726 1932560 105000 105000 1827560 0 1827560 PART III, LINE 1A: IN ACCORDANCE WITH INDUSTRY PRACTICE, COLLECTIONS FOR USE AS EXHIBITS AND PROGRAMS ARE NOT CAPITALIZED OR REFLECTED IN THESE FINANCIAL STATEMENTS. PART III, LINE 4: AS PART OF ITS MISSION TO DOCUMENT THE HISTORY AND PRACTICE OF AMERICAN FINANCE, THE MUSEUM OF AMERICAN FINANCE ACTIVELY COLLECTS DOCUMENTS AND ARTIFACTS RELATED TO THE CAPITAL MARKETS, MONEY AND BANKING. THE COLLECTION INCLUDES STOCKS, BONDS, CURRENCY, CHECKS, PRINTS, ENGRAVINGS, PHOTOGRAPHS, OBJECTS AND BOOKS. THE MUSEUM HAS AN EXTENSIVE COLLECTION OF STOCK AND BOND CERTIFICATES FROM THE GILDED AGE, AS WELL AS ONE OF THE NATION'S PREMIER COLLECTIONS OF 18TH CENTURY U.S. FINANCIAL DOCUMENTS. THE MUSEUM HOUSES AND CARES FOR ITS COLLECTIONS IN ORDER TO PRESERVE THEM AS A RESOURCE FOR THE FUTURE IN ADDITION TO ALLOWING FOR PUBLIC ACCESS THROUGH EXHIBITIONS, EDUCATIONAL PROGRAMMING, DIGITAL OUTREACH AND RESEARCH. PART V, LINE 4: THE MUSEUM CREATED THE ENDOWMENT FUND WITH THE INTENT TO PRESERVE THE PRINCIPAL AND THE RETURNS FROM THE INVESTING OF THE PRINCIPAL ARE AVAILABLE FOR USE OF THE MUSEUM TO PRODUCE FUTURE EXHIBITS, OFFER TIMELY AND SCHOLARLY PROGRAMS, PUBLISH A MAGAZINE, CONDUCT ORAL HISTORY INTERVIEWS, MANAGE A COLLECTION OF DOCUMENTS AND ARTIFACTS, AND CONSTRUCT AND MAINTAIN FACILITIES CONSISTENT WITH A UNIQUE INSTITUTION DEDICATED TO THE STUDY AND PRESENTATION OF FINANCIAL MATTERS. PART X, LINE 2: THE MUSEUM RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE MUSEUM HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE MUSEUM IS NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO DECEMBER 31, 2021. GALA 1508563 1359813 148750 2113 154536 69795 1508563 1359813 148750 2113 154536 69795 226444 -77694 X X 0 0 0 0 0 0 0 1 0 DAVID COWEN PRESIDENT/CEO 210000 0 0 0 0 0 6300 0 1239 0 217539 0 1239 0 MINDY ROSS DIRECTOR OF EXTERNAL RELATIONS 152500 0 7500 0 0 0 0 0 33336 0 193336 0 33336 0 KRISTIN AGUILERA DEPUTY DIRECTOR 107000 0 20000 0 0 0 0 0 47621 0 174621 0 47621 0 PART I, LINE 7 INDIVIDUALS REPORTED ON FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II RECEIVED BOARD-APPROVED DISCRETIONARY BONUSES IN 2024. FORM 990, PART VI, SECTION B, LINE 11B THE MUSEUM'S FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTANT WITH CONTRIBUTIONS FROM SEVERAL KEY MUSEUM STAFF MEMBERS, INCLUDING THE MUSEUM'S PRESIDENT, ACCOUNTANT AND OTHERS. THE MUSEUM'S ACCOUNTANT AND PRESIDENT MEET REGULARLY TO REVIEW AND DISCUSS THE MUSEUM'S FINANCIAL STATEMENTS AND THE 990. PAPER COPIES OF THE 990 ARE ALSO MADE AVAILABLE TO TRUSTEES UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE MUSEUM DISTRIBUTES A CONFLICT OF INTEREST STATEMENT AND QUESTIONNAIRE TO ALL TRUSTEES AND OFFICERS TO BE COMPLETED AND RETURNED FOR REVIEW BY THE MUSEUM'S DEPUTY DIRECTOR. AMONG OTHER THINGS, THE QUESTIONNAIRE REQUIRES TRUSTEES TO ACKNOWLEDGE AND AFFIRM THE MUSEUM'S CONFLICT OF INTEREST POLICY, AND LIST ANY EXISTING OR POTENTIAL CONFLICTS SUCH TRUSTEE MAY HAVE WITH RESPECT TO THE MUSEUM. IF A TRUSTEE CONFLICT IS IDENTIFIED, THE TRUSTEE IS REQUIRED TO DISCLOSE THE MATERIAL FACTS OF HIS OR HER INTEREST IN THE TRANSACTION IN QUESTION TO THE BOARD, IS EXCLUDED FROM ANY DELIBERATIONS ABOUT IT AND MUST RECUSE HIM OR HERSELF FROM VOTING ON THE MATTER. POTENTIAL EMPLOYEE CONFLICTS ARE HANDLED WITH AN INVESTIGATION CONDUCTED BY THE MUSEUM'S PRESIDENT, IN CONSULTATION WITH THE DEPUTY DIRECTOR, TO DETERMINE IF ANY ACTION IS WARRANTED. EMPLOYEES PRESENTING POTENTIAL CONFLICTS ARE EXCLUDED FROM PARTICIPATING IN DELIBERATIONS AND DECISIONS REGARDING THE TRANSACTION IN QUESTION. FORM 990, PART VI, SECTION B, LINE 15A THE MUSEUM PRESIDENT'S COMPENSATION IS REVIEWED EVERY OTHER YEAR. THE PROCESS FOR DETERMINING THE PRESIDENT'S COMPENSATION IS DETERMINED USING COMPARABLE DATA FROM GUIDESTAR. THE BOARD OF TRUSTEES THEN REVIEWS THE PROPOSED COMPENSATION, IN ACCORDANCE WITH THE RELATED EMPLOYMENT AGREEMENT AND TAKING INTO ACCOUNT THE PRESIDENT'S PERFORMANCE AND OTHER FACTORS. THE BOARD APPROVES PRESIDENT'S COMPENSATION. THIS PROCESS WAS LAST UNDERTAKEN IN 2024 AND WAS DOCUMENTED IN THE MINUTES OF THE BOARD MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST. FORM 990, PART XII, LINE 2C: THE MUSEUM OF AMERICAN FINANCE HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND FOR THE SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.