2016-11-15T18:06:22-07:00 2015-12-31 990 2015-01-01 420680419 EDMUNDSON ART FOUNDATION INC EDMU 5152774405 4700 GRAND AVE DES MOINES IA 50312 Cheryl Tuttle Senior Director of Finance 5152774405 2016-11-15 2015 2017-02-10 21:41:12Z DES MOINES ART CENTER Jeff Fleming 4700 Grand Avenue Des Moines IA 50312 7286610 0 X www.desmoinesartcenter.org X 1946 IA The Des Moines Art Center engages diverse local, national, and international audiences with the art of today through its museum and school, adding to the cultural record through collections and programs. 28 28 183 234 94259 0 2284234 3261724 387829 374720 2766569 3112010 72569 140058 5511201 6888512 0 0 0 0 2964379 3099142 0 0 602477 3307048 3092737 6271427 6191879 -760226 696633 119380496 110084812 761359 549186 118619137 109535626 The Des Moines Art Center engages diverse local, national, and international audiences with the art of today through its museum and school, adding to the cultural record through collections and programs. 0 0 3545517 0 10654 Collections, exhibitions and works of art - In addition to over 300 works of art on display from the permanent collections, fourteen special exhibitions were presented in 2015. These exhibitions featured important contemporary artists from around the world, notably Laurel Nakadate's "Strangers and Relations". We have developed a reputation for presenting the first solo exhibitions in the United States for many young artists who then establish international acclaim. These artists include Alex Brown, John Currin, Christian Jankowski, Robyn O'Neil, Phyllida Barlow and El Anatsui. Other exhibitions feature Iowa artists and works from our permanent collections, which focus on post-1945 works and are acclaimed for a large number of masterpiece-quality works and the scholarly important awarded to them. Examples include works by Claude Monet, Brice Marden, John Singer-Sargent, Francis Bacon, Frank Stella, Cecily Brown, Phillip Guston, Jean Arp, Andy Goldsworthy, Constanin, Brancusi, Louise Bourgeois and Alberto Giacometti. Open to visitors since September 2009, the John and Mary Pappajohn Sculpture Park features artwork by 22 of the world's most celebrated artists. Related education programs reached thousands of children and adults. 1232023 0 364066 Education - Our education and outreach programs are diverse and comprehensive, including a public art school, tours, programs for at-risk youth, and lectures. Three terms of classes and workshops are offered to members and the general public each year; over 3,000 students (children, adults and families) took classes ranging from drawing, painting, photography, art history, ceramics, jewelry making and more. Approximately 6% of the students received scholarships. In 2015 the tours program served 18,055 students from pre-kindergarten through college, including all fourth graders in Des Moines Public Schools as well as eight surrounding school districts. Additionally, more than 3,000 thousand adults were reached through tours. Tours are led by volunteer guides, docents, who participate in both comprehensive initial and continuing education training. The student tours population includes many "at-risk" children as approximately half of Des Moines' public school students are defined as such. Additionally, over 1,000 at-risk students were provided art education, including Youth Emergency Shelter Services (YESS), Children and Families of Iowa, Oakridge Neighborhood, Mentor Iowa and many others. Finally, our lecture and gallery dialogue series speaks directly to serving adult learners. Speakers vary from our curatorial experts, to regional scholars, to internationally acclaimed artists. Two thousand people attended speakers' programs in 2015. 0 0 0 4777540 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 51 0 1 183 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X Cheryl A Tuttle 5152774405 4700 GRAND AVE DES MOINES IA 50312 Pamela Bass-Bookey Trustee 1 0 X 0 0 0 Julie Brenton Trustee 1 0 X 0 0 0 Joseph Ceryanec Trustee 1 0 X 0 0 0 Graham Cook Trustee 1 0 X 0 0 0 Lois Fingerman Trustee 1 0 X 0 0 0 Christine Hensley Trustee 1 0 X 0 0 0 Bruce Hughes Trustee 1 0 X 0 0 0 James Israel Trustee 1 0 X 0 0 0 Dale Jansen Trustee 1 0 X 0 0 0 Darren Jirsa Trustee 1 0 X 0 0 0 Mary Kelly Trustee 1 0 X 0 0 0 John Krantz Trustee 1 0 X 0 0 0 Lisa Kruidenier Trustee 1 0 X 0 0 0 Jeanne Levitt Trustee 1 0 X 0 0 0 Warren May Trustee 1 0 X 0 0 0 Mike Miller Trustee 1 0 X 0 0 0 Mary Pappajohn Trustee 1 0 X 0 0 0 Suku Radia Trustee 1 0 X 0 0 0 Pat Schneider Trustee 1 0 X 0 0 0 Craig Shadur Trustee 1 0 X 0 0 0 Mike Simonson Trustee 1 0 X 0 0 0 Dennis Young Trustee 1 0 X 0 0 0 Kyle Krause President 1 0 X X 0 0 0 Pat McFarland Vice President 1 0 X X 0 0 0 Toni Urban Vice President 1 0 X X 0 0 0 Stacy Polydoran Secretary 1 0 X X 0 0 0 James Wallace Treasurer 1 0 X X 0 0 0 James Hubbell III Chairperson and Ex-Officio 1 0 X X 0 0 0 Jeff Fleming Director 40 0 X X 250830 0 24253 Cheryl Tuttle Senior Director of Finance 40 0 X 131947 0 15331 382777 0 39584 2 0 1 0 0 0 381220 156759 0 60290 2663455 0 3261724 Studio Classes & Programs 611600 362958 362958 0 0 Exhibition income (catalog sales) 900099 6407 6407 0 0 Reproduction & loan fees 900099 4247 4247 0 0 Adult tours 900099 1108 1108 0 0 0 0 0 0 374720 3112010 0 0 3112010 0 0 0 0 0 0 0 0 52628 0 58302 0 -5674 0 -5674 0 -5674 0 0 0 216770 156759 220288 -3518 0 -3518 219441 119508 99933 0 99933 0 Other income 900099 49317 0 0 49317 0 0 0 0 49317 6888512 374720 94259 3157809 0 0 0 0 0 0 0 0 382777 0 382777 0 0 0 0 0 2146107 1701779 134365 309963 30449 18028 11261 1160 368162 278684 50865 38613 171647 122149 27641 21857 0 0 0 0 1687 0 1687 0 31554 0 31554 0 0 0 0 0 0 0 0 0 0 0 83398 49219 26466 7713 212746 180027 0 32719 241034 119558 61949 59527 112283 89312 11510 11461 0 0 0 0 544971 513560 9960 21451 79448 61906 13916 3626 0 0 0 0 30687 10173 18986 1528 0 0 0 0 0 0 0 0 736704 693257 14559 28888 152890 145834 5413 1643 Programs & other fundraising supplies 329849 312620 0 17229 Purchases of works of art 428376 428376 0 0 Conservation of works of art 34737 34737 0 0 72373 18321 8953 45099 6191879 4777540 811862 602477 791145 1393456 159405 146359 303338 554820 115393 72747 0 0 0 0 0 0 117901 116710 139270 127782 19676916 13601571 6812049 6075345 47621790 45894754 0 0 0 0 0 0 63320205 55702839 119380496 110084812 428364 206061 0 0 0 0 0 0 0 0 0 0 0 0 0 0 332995 343125 761359 549186 X 25380491 24453772 7512214 6617593 85726432 78464261 118619137 109535626 119380496 110084812 696633 -9780144 0 0 0 0 X 0 1 X 1 0 X 2142594 1646330 3713729 2284234 3261724 13048611 0 0 0 0 0 0 0 0 0 0 0 0 2142594 1646330 3713729 2284234 3261724 13048611 2041471 11007140 1870981 2149692 2170837 2766569 3112010 12070089 -35577 -31310 -49304 -71145 -60234 -247570 0 0 0 0 0 0 24871130 2251335 0.44257 0.455 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 0 46092781 252305 -255807 0 1733157 0 44356122 43556735 243366 3982945 0 1690265 0 46092781 35918159 637292 8536171 0 1534887 0 43556735 33150457 208641 4012654 0 1453593 0 35918159 33770178 213257 665647 0 1498625 0 33150457 0.37 0.51 0.12 0 0 0 0 0 0 18485060 12479050 6006010 0 0 0 0 0 1191856 1122521 69335 0 0 0 0 6075345 Funds held in trust 55702839 55702839 0 Deferred compensation 343125 343125 X -2465127 -9780144 0 0 426505 -9353639 6888512 0 0 0 6888512 6618384 0 0 0 426505 426505 6191879 0 0 0 6191879 Schedule D, Part III, Line 1 The collections, which were acquired through purchases and contributions since the Foundation's inception, are not recognized as assets on the statements of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. Schedule D, Part III, Line 4 In keeping with its mission, the Foundation collects works of art from the 19th, 20th, and 21st centuries. Its permanent collections focus on masterpiece quality post 1945 and contemporary international art and are acclaimed for the scholarly import awarded to them. Of the approximately 5,000 objects in the collections, approximately 3,000 are works on paper that range from Rembrandt, Goya, and Durer to the present. There are regular presentations of artworks in the exhibition galleries at the Foundation. Selected objects from the permanent collections are shown as part of special exhibitions either at the Foundation or in museums throughout the world. When not on exhibit at the Foundation or on loan to museums for temporary exhibitions, the objects are cared for in climate controlled storage areas. The Foundation maintains policies and procedures addressing the collections' upkeep, as well as other aspects of its management, including accession and deaccession policies. Schedule D, Part V, Line 4 The Foundation's endowment consists of several individual funds established for a variety of purposes and includes both donor restricted endowment funds and funds designated by the Board of Trustees (the Board) to function as endowments. The Foundation has a policy of appropriating for distribution each year 4.5% of its endowment fund's average fair value over the prior 12 quarters through the second quarter preceding the fiscal year in which the distribution is planned. Single gifts exceeding $200,000 are deducted from this calculation and a specific appropriation of 4.5% of such gifts is allowed for the 12 quarters following these gifts. In establishing this policy, the Foundation considered the long term expected return on its endowment. Accordingly, over the long term, the Foundation expects the current spending policy to allow its endowment to grow or maintain the principal of the endowment gifts. This is consistent with the Foundation's objective to maintain the purchasing power of the endowment assets held in perpetuity or for a specified term as well as to provide additional real growth through new gifts and investment return. Schedule D, Part X, Line 2 The Foundation is a tax exempt organization as described in Section 501(c)(3) of the Internal Revenue Code. As such, the Foundation is subject to federal and state income taxes only on unrelated business income under the provisions of Section 511 of the Internal Revenue Code. The Foundation recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Interest and penalties on unrecognized tax benefits are classified as other noninterest expense. As of December 31, 2015 and 2014, the Foundation had no material unrecognized tax benefits. Schedule D, Part XI, Line 2d Direct costs netted against revenues, including cost of goods sold, special events direct expenses, and rental expenses. Schedule D, Part XII, Line 2d Direct costs netted against revenues, including cost of goods sold, special events direct expenses, and rental expenses. Gala 188259 156759 31500 0 0 3000 29890 5170 33456 Patron Trips 185270 0 185270 0 0 0 0 0 148772 0 373529 156759 216770 0 0 3000 29890 5170 182228 220288 -3518 X X 0 0 0 0 0 0 0 0 0 Jeff Fleming Director 250830 0 0 0 0 0 25000 0 24253 0 300083 0 0 0 Schedule J, Part I, Line 3 The Executive Committee of the Board of Trustees reviews and determines the compensation of the Director, which is voted on and approved by the full board. They review any potential conflicts of interest, of which there were none in 2015. They use primarily the American Association of Museum Directors' (AAMD) salary comparisons as a guide to determine comparable compensation of similarly qualified persons in functionally comparable positions at similarly situated organizations. This review is documented with written notes regarding the compensation agreement reached after discussion between the Executive Committee (or its representative, the president of the Board of Trustees) and the Director. X 2 0 n/a 2 0 1 0 Schedule M, Part I, Line 33 The Foundation's collections are not recognized as assets on the statements of financial position as allowed by GAAP and recommended by the American Association of Museums (AAM). Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements as allowed by GAAP and disclosed in our audited financial statements. Form 990, Part VI, Section B, Line 11b All members of the Board of Trustees were provided a copy of the Form 990 prior to filing. The Finance Committee, as delegated by the Board of Trustees, reviewed the Form 990 prior to providing a copy to the Board. Form 990, Part VI, Section B, Line 12c The Foundation's Code of Ethics applies to all trustees, employees and volunteers. A Conflict of Interest Questionnaire is completed annually by trustees and employees. Potential conflicts identified are investigated by the Trusteeship Committee. Trustees with actual conflicts do not participate in deliberations or vote on the matter in question. Potential employee conflicts are investigated by the Director and/or the Senior Director of Finance. Form 990, Part VI, Section B, Line 15 The Executive Committee of the Board of Trustees reviews and determines the compensation of the Director, which is voted on and approved by the full board. They review any potential conflicts of interest, of which there were none in 2014. They use primarily the American Association of Museum Director's (AAMD) annual salary comparisons as a guide to determine comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. This review is documented with written notes regarding the compensation agreement reached after discussion by the Executive Committee or its representative, the President of the Board of Trustees, and the Director. For key employees of the organization, the (AAMD) annual salary comparisons are used as the primary guide to determine comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. Form 990, Part VI, Section C, Line 19 The Foundation's governing documents, conflict of interest policy, and financial statements are available to the public upon request. Appropriate extensions were filed, but not through the efile site.