2017-05-15T11:02:00-05:00 2016-06-30 BKD LLP 201 N Illinois Street Indianapolis IN 46204 990 2015-07-01 350867955 Indianapolis Museum of Art Inc % JEREMIAH WISE INDI 3179231331 4000 MICHIGAN ROAD INDIANAPOLIS IN 46208 JEREMIAH WISE CFO 3179231331 2017-05-15 true NICOLE B FISHBACK P01279475 3173834000 2017-05-15 2015 2021-01-29 14:40:06Z JEREMIAH WISE 4000 MICHIGAN ROAD INDIANAPOLIS IN 46208 62870766 false X WWW.IMAMUSEUM.ORG X 1883 IN TO SERVE THE CREATIVE INTERESTS OF ITS COMMUNITIES BY FOSTERING EXPLORATION OF ART, DESIGN, AND THE NATURAL ENVIRONMENT. 31 30 437 750 766439 7800842 14690294 6061307 3174123 28523187 13334685 578196 388956 42963532 31588058 0 0 0 0 12909225 14179937 0 0 2397561 23279117 20579072 36188342 34759009 6775190 -3170951 501610406 477337282 129705309 129278785 371905097 348058497 X THE INDIANAPOLIS MUSEUM OF ART, AN encyclopedic art museum encompassing 152 acres of gardens and grounds IN THE HEART OF THE MIDWEST, SERVES THE CREATIVE INTERESTS OF ITS COMMUNITIES BY FOSTERING EXPLORATION OF ART, DESIGN, AND THE NATURAL ENVIRONMENT. THE IMA PROMOTES THESE INTERESTS THROUGH THE COLLECTION, PRESENTATION, INTERPRETATION AND CONSERVATION OF ITS ARTISTIC, HISTORIC, AND ENVIRONMENTAL ASSETS. THE INDIANAPOLIS MUSEUM OF ART HAS A COLLECTION OF OVER 50,000 WORKS OF ART. AT THE MUSEUM, YOU WILL FIND ART FROM A VARIETY OF CULTURES AND PERIODS IN ART HISTORY. THE MUSEUM ALSO FEATURES NATIONAL AND INTERNATIONAL TRAVELING EXHIBITIONS THROUGHOUT THE YEAR. THE VIRGINIA B. FAIRBANKS ART AND NATURE PARK PROVIDES AN URBAN OASIS WITH 100 ACRES OF WOODLANDS, WETLANDS, LAKE AND MEADOWS LOCATED ADJACENT TO THE MUSEUM. THE PARK CONTAINS OUTDOOR ART WORKS, AS WELL AS RECREATIONAL EXPERIENCES FOR VISITORS INCLUDING NATURE WALKS AND INTERACTIVE OUTDOOR ART EXHIBITIONS. INTERACTIVE OUTDOOR ART false false 14084267 658907 CURATORIAL - THE STUDY, PRESERVATION AND COLLECTION OF ART FOR THE ENJOYMENT OF FUTURE GENERATIONS. 8091360 1212799 EDUCATIONAL - TO COMMUNICATE AND DEVELOP KNOWLEDGE ABOUT THE ART COLLECTED, TO MEMBERS OF THE GENERAL PUBLIC. 2566395 32950 HORTICULTURAL - THE INDIANAPOLIS MUSEUM OF ART FOSTERS EXPLORATION NOT ONLY OF THE ART IN ITS MUSEUM COLLECTIONS, BUT ALSO OF THE NATURAL ENVIRONMENT AND THE HISTORIC PROPERTIES FOR WHICH THE IMA HAS BEEN GIVEN STEWARDSHIP. 2181316 935873 MUSEUM STORE 2181316 935873 26923338 true true false false false false true false true true true false false true false false true false false true false false false false false false false false true true false false false false false false false false false false true true false false true true false false false true 109 0 true 437 true true true false false false false true true false false false false X 31 30 true false false false false false false true true false false true true true true true true true true false IN X X JEREMIAH WISE 3179231331 4000 MICHIGAN ROAD INDIANAPOLIS IN 46208 CHARLES VENABLE MELVIN & BREN SIMON DIR & CEO 70.0 0.0 X X 675169 0 26141 THOMAS HIATT CHAIR 2.0 0.0 X X 0 0 0 KATHRYN BETLEY FIRST VICE CHAIR 2.0 0.0 X X 0 0 0 PETER MORSE VICE CHAIR 2.0 0.0 X X 0 0 0 MARYA ROSE VICE CHAIR 2.0 0.0 X X 0 0 0 MICHAEL KUBACKI TREASURER 2.0 0.0 X X 0 0 0 ERSAL OZDEMIR SECRETARY 2.0 0.0 X X 0 0 0 AGATHA BARCLAY BOARD MEMBER 2.0 0.0 X 0 0 0 BENJAMIN PECAR BOARD MEMBER 2.0 0.0 X 0 0 0 C DANIEL YATES BOARD MEMBER 2.0 0.0 X 0 0 0 DANIEL SKOVRONSKY BOARD MEMBER 2.0 0.0 X 0 0 0 DARRIANNE CHRISTIAN BOARD MEMBER 2.0 0.0 X 0 0 0 DAVID BARRETT BOARD MEMBER 2.0 0.0 X 0 0 0 DAVID ESKENAZI BOARD MEMBER 2.0 0.0 X 0 0 0 DEBORAH LILLY BOARD MEMBER 2.0 0.0 X 0 0 0 DORIT PAUL BOARD MEMBER 2.0 0.0 X 0 0 0 HOWARD SCHROTT BOARD MEMBER 2.0 0.0 X 0 0 0 IAN RUPERT BOARD MEMBER 2.0 0.0 X 0 0 0 KAY KOCH BOARD MEMBER 2.0 0.0 X 0 0 0 KENT HAWRYLUK BOARD MEMBER 2.0 0.0 X 0 0 0 MATTHEW GUTWEIN BOARD MEMBER 2.0 0.0 X 0 0 0 MICHAEL ROBERTSON BOARD MEMBER 2.0 0.0 X 0 0 0 RACHEL SIMON BOARD MEMBER 2.0 0.0 X 0 0 0 RICK JOHNSON BOARD MEMBER 2.0 0.0 X 0 0 0 ROBIN NELSON-RICE BOARD MEMBER 2.0 0.0 X 0 0 0 SHERRON ROGERS BOARD MEMBER 2.0 0.0 X 0 0 0 SHIRLEY MUELLER BOARD MEMBER 2.0 0.0 X 0 0 0 SUSAN KLEINMAN BOARD MEMBER 2.0 0.0 X 0 0 0 SUSAN RUSSELL BOARD MEMBER 2.0 0.0 X 0 0 0 SUSAN MCALISTER BOARD MEMBER 2.0 0.0 X 0 0 0 TONI BADER BOARD MEMBER 2.0 0.0 X 0 0 0 JEREMIAH WISE CFO 50.0 0.0 X 163957 0 12629 ELLEN LEE WOOD-PULLIAM SENIOR CURATOR 50.0 0.0 X 185138 0 16774 KATHRYN HAIGH DEPUTY DIR - COLLECTIONS 60.0 0.0 X 161132 0 13166 KIM GATTLE DEPUTY DIR - DEVELOPMENT 50.0 0.0 X 206590 0 14258 PRESTON BAUTISTA DEPUTY DIR FOR PUBLIC PROGRAMS 40.0 0.0 X 154216 0 12172 GREG SMITH SENIOR CONSERVATION SCIENTIST 50.0 0.0 X 132034 0 17301 1678236 0 112441 11 false true false CAMBRIDGE ASSOCIATES 100 SUMMER STREET BOSTON MA 02110 INVESTMENT ADVISOR 713802 ALFREDO JAAR 508 WEST 26TH STREET SUITE 9B NEW YORK CITY NY 10001 ARTIST 250000 2 921796 268579 13499919 1947320 14690294 ADMISSION FEES 900099 1192640 1192640 PROJECT INCOME 900099 32839 32839 RESTAURANT AND CATERING INCOME 722511 183373 183373 RENTAL INCOME 531190 294118 294118 CONSULTING SERVICES 541900 146898 146898 1324255 924136 400119 3174123 4527358 -145839 4673197 0 0 0 0 0 39572678 7287 30772638 8800040 7287 8807327 7287 365814 8434226 0 0 899026 510070 388956 242611 146345 0 31588058 2840529 766439 13290796 0 0 0 0 877896 219474 438948 219474 0 10383562 9166385 426205 790972 1020224 986985 19071 14168 1124242 960854 104830 58558 774013 672730 43567 57716 0 57174 48410 4164 4600 60660 60660 0 0 3207411 3207411 1277503 1081687 93031 102785 1036279 877437 75465 83377 1255694 1063220 91443 101031 259206 219475 18876 20855 0 1185053 1003407 86299 95347 357247 302488 26016 28743 0 0 3504206 2967079 255186 281941 0 6061643 5132511 441425 487707 401654 340088 29249 32317 PURCHASE OF ART 1692000 1692000 MISCELLANEOUS EXPENSES 223342 189108 16264 17970 34759009 26923338 5438110 2397561 7354 7354 1730029 1417375 3195692 1588285 520469 53014 0 0 0 0 0 0 625988 596752 410009 566446 209398725 102087560 113105796 107311165 92469442 105217302 274088870 244110330 0 0 0 0 15456757 16469259 501610406 477337282 3982906 4887178 0 0 997000 671000 121001922 119464435 0 0 0 0 0 0 0 0 3723481 4256172 129705309 129278785 X 106018913 89405776 129049694 113171599 136836490 145481122 371905097 348058497 501610406 477337282 X -3170951 -19345826 -1329823 X false true X true false X 5256372 11330684 7494452 7800842 14690294 46572644 0 0 5256372 11330684 7494452 7800842 14690294 46572644 13888748 32683896 1639597 804147 2753533 2872393 4527358 12597028 0 0 59169672 20969491 0.55238 0.67906 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 363386000 9287986 -8646986 17245650 3043350 343738000 376446306 3415427 6574267 19592500 3457500 363386000 339676794 5382893 56886351 21422735 4076997 376446306 326327450 2308109 35480867 21016628 3423004 339676794 352322051 2404300 -7911860 20247179 239862 326327450 0.25700 0.41800 0.32500 false false 4063580 921861 4985441 0 167379756 74286160 93093596 36149302 27069108 9080194 884226 732292 151934 107311165 ALTERNATIVE INVESTMENTS 244110330 F 244110330 0 LIABILITY FOR CHARITABLE ANNUI 63083 LIABILITY FOR AMOUNTS HELD 413093 INTEREST RATE SWAP 3779996 4256172 8215068 -19345826 706070 -18639756 26854824 3207411 1525823 4733234 31588058 32061668 510070 510070 31551598 3207411 3207411 34759009 SCHEDULE D, PART III, LINE 1A ELECTION UNDER SFAS 116: IF ELECTED UNDER SFAS 116 PROVIDE FOOTNOTE FROM FINANCIAL STATEMENTS ACCORDING TO THE MUSEUM'S POLICY, COLLECTIONS INCLUDE ALL WORKS OF ART, HISTORICAL TREASURES, LIBRARY ACCESSIONS AND SIMILAR ASSETS THAT ARE (A) HELD FOR PUBLIC SERVICE RATHER THAN FINANCIAL GAIN, (B) PROTECTED, KEPT UNENCUMBERED, CARED FOR AND PRESERVED, AND (C) SUBJECT TO THE MUSEUM'S POLICY THAT REQUIRES THE PROCEEDS OF ITEMS THAT ARE SOLD TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THE COLLECTIONS, WHICH HAVE BEEN ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, ARE NOT RECOGNIZED AS AN ASSET ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED OR TEMPORARILY RESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES, IF ANY, ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASS. SCHEDULE D, PART III, LINE 4 ARTWORK FURTHERING EXEMPT PURPOSE: THE INDIANAPOLIS MUSEUM OF ART (IMA) WAS FOUNDED IN 1883 AS THE ART ASSOCIATION OF INDIANAPOLIS. TODAY, THE IMA IS ONE OF LARGEST ENCYCLOPEDIC ART MUSEUMS IN THE UNITED STATES. HAVING CELEBRATED ITS 125TH ANNIVERSARY IN OCTOBER 2008, THE IMA IS ONE OF THE TEN LARGEST AND OLDEST ENCYCLOPEDIC ART MUSEUMS IN THE UNITED STATES. THE MISSION OF THE IMA IS TO SERVE THE CREATIVE INTERESTS OF ITS COMMUNITIES BY FOSTERING EXPLORATION OF ART, DESIGN AND THE NATURAL ENVIRONMENT. THE IMA PROMOTES THESE INTERESTS THROUGH THE COLLECTION, PRESENTATION, INTERPRETATION AND CONSERVATION OF ITS ARTISTIC, HISTORIC AND ENVIRONMENTAL ASSETS. THE IMA ENCOMPASSES 152 ACRES AND 102,107 SQUARE FEET OF GALLERY SPACE DEVOTED TO THE IMA'S PERMANENT COLLECTION OF MORE THAN 54,000 OBJECTS. WORLD-RENOWNED AREAS OF THE COLLECTION INCLUDE CHINESE CERAMICS, BRONZES, AND JADES; EDO PERIOD PAINTINGS; AFRICAN ART (YORUBA, ASANTE, AND BENIN); OUTSTANDING HOLDINGS OF 17TH-CENTURY DUTCH AND FLEMISH PAINTING; THE FINEST NEO-IMPRESSIONIST COLLECTION IN NORTH AMERICA; PAINTINGS AND WATERCOLORS BY J.M.W. TURNER (THE LARGEST TURNER COLLECTION OUTSIDE OF THE TATE); AND MOROCCAN TEXTILES. OTHER STRENGTHS INCLUDE 17TH-18TH-CENTURY EUROPEAN PAINTING; INDIANA ARTISTS; AMERICAN IMPRESSIONISM; BALUCHI RUGS; PONT-AVEN WORKS; AND FASHION ARTS. THE CONTEMPORARY COLLECTION IS GROWING RAPIDLY IN QUANTITY AND QUALITY, HIGHLIGHTED BY A ROTATING EXHIBITION PROGRAM IN THE EFROYMSON FAMILY ENTRANCE PAVILION, THE MAYA LIN COMMISSION ABOVE AND BELOW, THE RECENTLY UNVEILED ROBERT IRWIN SCULPTURE LIGHT AND SPACE III, THE VIRGINIA B. FAIRBANKS ART & NATURE PARK AND ONGOING COMMISSIONS TO TAKE PLACE IN 100 ACRES. DESIGN IS AN INSTITUTIONAL PRIORITY, UNDERSCORED BY THE DEVELOPMENT OF A DEPARTMENT OF DESIGN ARTS AND NUMEROUS DESIGN OBJECT ACQUISITIONS FOR THE PERMANENT COLLECTION. SCHEDULE D, PART V, LINE 4 INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS: THE MUSEUM'S ENDOWMENT CONSISTS OF APPROXIMATELY 150 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING ART PURCHASES, PROGRAM EXPENSES, BUILDING OPERATIONS, BOND COSTS, AND PERSONNEL EXPENSES. SCHEDULE D, PART X ASC 740 DISCLOSURE: MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XI, LINE 2D RECONCILIATION OF REVENUE PER AFS: COST OF GOOD SOLD $ 510,070 AMORT. OF NET PERIODIC PENSION COSTS 196,000 TOTAL $ 706,070 SCHEDULE D, PART XI, LINE 4B RECONCILIATION OF REVENUE PER AFS: CHANGES IN VALUE OF INTEREST RATE SWAP $ 577,823 CHANGES IN ACCUM. POSTRETIREMENT BENEFITS 948,000 TOTAL $ 1,525,823 SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF EXPENSES PER AFS: COST OF GOOD SOLD $ 510,070 Europe (Including Iceland and Greenland) Investments N/A 5704050 Central America and the Caribbean Investments N/A 70896891 North America Investments N/A 1368991 77969932 77969932 true false true true true false X X X X X true true X X X X X X false false false false false false false true false CHARLES VENABLE MELVIN & BREN SIMON DIR & CEO 392749 183750 98670 15710 10431 701310 0 JEREMIAH WISE CFO 143957 20000 0 5758 6871 176586 0 ELLEN LEE WOOD-PULLIAM SENIOR CURATOR 177899 7239 0 7116 9658 201912 0 KATHRYN HAIGH DEPUTY DIR - COLLECTIONS 141132 20000 0 5645 7521 174298 0 KIM GATTLE DEPUTY DIR - DEVELOPMENT 191590 15000 0 7664 6594 220848 0 PRESTON BAUTISTA DEPUTY DIR FOR PUBLIC PROGRAMS 134216 20000 0 5369 6803 166388 0 SCHEDULE J, PART I, LINE 1A OTHER REPORTABLE COMPENSATION: INCLUDED IN CHARLES VENABLE'S OTHER REPORTABLE COMPENSATION IS CELL PHONE, LIFE INSURANCE, PERSONAL USE OF SOCIAL CLUB DUES AND HOUSING EXPENSES ALL WHICH ARE TAXABLE COMPENSATION. CHARLES VENABLE'S SPOUSE IS REQUIRED TO ATTEND EVENTS AS NEEDED, FOR WHICH THE ORGANIZATION PROVIDES FOR TRAVEL EXPENSES. CHARLES VENABLE WILL REIMBURSE THE ORGANIZATION FOR ANY OTHER SPOUSAL TRAVEL EXPENSES. CHARLES VENABLE PAYS 100% OF THE AMOUNT OF CLEANING SERVICES FOR WESTERLEY (THE RESIDENCE) AND SUBMITS FOR REIMBURSEMENT 50% OF THE CLEANING SERVICE FEE, AS IT PERTAINS TO HOSTING GATHERINGS ON BEHALF OF INDIANAPOLIS MUSEUM OF ART, INC. Schedule J, Part I, Line 7 Non-fixed Payments: The bonuses included in Part II, column (ii) are performance based bonuses. These bonuses were approved by the CEO and compensation committee. Charles Venables bonus includes a deferred bonus from prior years based on performance. The compensation committee approved this bonus. Ellen Woods bonus was incentive compensation that was approved by the CEO and compensation committee. A INDIANA FINANCE AUTHORITY 351602316 2014-06-19 55139500 REFUNDING OF SERIES 2001 AND 2004 false false false B INDIANA FINANCE AUTHORITY 351602316 45506DJM8 2013-05-08 41985800 REFUNDING OF SERIES 2002 BONDS false false false C INDIANA FINANCE AUTHORITY 351602316 2013-03-25 26105000 REFUNDING OF SERIES 2001 BONDS false false false A 0 0 55139500 0 0 0 137596 0 0 0 55001904 0 true false true true B 0 0 41985800 0 0 0 381800 0 0 0 41604000 0 true false true true C 0 0 26105000 0 0 0 102863 0 0 0 26002137 0 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false false true false true false 0 false 0 false true B false false true false false false 0 false 0 false true C false false true false true false 0 false 0 false true A true B true C true X 469 1693472 APPRAISAL X 33 244878 STOCK QUOTE X 10 8970 COST 10 false true true SCHEDULE M, PART I, LINE 32B THIRD PARTY WHO SELLS NON-CASH CONTRIBUTIONS: STIFEL NICOLAUS SELLS CONTRIBUTIONS OF STOCK RECEIVED BY THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBER RELATIONSHIPS: MICHAEL KUBACKI AND THOMAS HIATT HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990: THE CHIEF FINANCIAL OFFICER AS WELL AS AN INDEPENDENT ACCOUNTING FIRM COMPLETE A DETAILED REVIEW OF THE FORM 990 BEFORE IT IS SUPPLIED TO THE AUDIT COMMITTEE FOR THEIR REVIEW. THE ENTIRE BOARD RECEIVES A COPY OF THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C MONITORING & ENFORCEMENT OF COMPLIANCE WITH CONFLICT OF INT. POLICY: THE INDIANAPOLIS MUSEUM OF ART HAS OFFICERS, DIRECTORS OR TRUSTEES, AND KEY EMPLOYEES COMPLETE CONFLICT OF INTEREST QUESTIONNAIRES ANNUALLY. THE CFO REVIEWS THE QUESTIONNAIRES ON AN ANNUAL BASIS. IF A CONFLICT IS NOTED, IT IS SUMMARIZED ON A SEPARATE DOCUMENT THAT IS THEN PRESENTED TO THE BOARD AND USED FOR COMPILATION OF THE 990. ANY BOARD MEMBER WHO HAS A CONFLICT OF INTEREST ABSTAINS FROM VOTING ON THE RELATED ISSUE AND MAY NOT BE INVOLVED IN ANY DISCUSSION PERTAINING TO THE PARTICULAR ISSUE. FORM 990, PART VI, SECTION B, LINE 15A & 15B PROCESS TO DETERMINE CEO, OFFICER, & KEY EMPLOYEE COMPENSATION: UNDER THE DIRECTION OF THE BOARD, THE HR DEPARTMENT GATHERS INDEPENDENT MARKET DATA, INCLUDING THE ASSOCIATION OF ART MUSEUM DIRECTORS SURVEY AND PROVIDES IT TO THE COMPENSATION COMMITTEE TO REVIEW AND USE IN DETERMINING THE CEO'S AND KEY EMPLOYEES' SALARIES. THE CEO'S LAST COMPENSATION REVIEW TOOK PLACE IN MARCH OF 2016 BY OPPENHEIM & ASSOCIATES. KEY EMPLOYEE COMPENSATION WAS LAST REVIEWED IN THE SPRING OF 2016 BY HR DIRECTOR, LAURA MCGREW. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF GOVERNING DOCUMENTS, CONFLICT OF INT. POLICY, & FS: THE INDIANAPOLIS MUSEUM OF ART DOES NOT MAKE ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. HOWEVER, FINANCIAL STATEMENTS AND THE FORM 990 ARE AVAILABLE ON THE WEBSITE. FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCES: CHANGES IN VALUE OF INTEREST RATE SWAP $ (577,823) CHANGES IN ACCUM. POSTRETIREMENT BENEFITS (948,000) AMORT. OF NET PERIODIC PENSION COSTS 196,000 TOTAL $(1,329,823) OLDFIELDS LLC 4000 MICHIGAN ROAD INDIANAPOLIS IN 46208 REAL ESTATE IN 1 19297 NA CHARITABLE REMAINDER TRUSTS (2) TRUST IN NA TRUST false false false false false false false false false false false false false false false false false false false