2016-03-28T11:48:34-07:00 2015-06-30 990 2014-07-01 366154098 MUSEUM OF CONTEMPORARY ART MUSE 3123973813 220 East Chicago Avenue Chicago IL 606112643 Peggy Papaioannou CFO and Assistant Treasurer 3123973813 2016-03-23 2014 2016-08-17 19:52:53Z Peggy Papaioannou 220 East Chicago Avenue Chicago IL 60611 54788504 0 X www.mcachicago.org X 1964 IL Enhance appreciation of contemporary art through education, programming and exhibitions (see statement on Part III Line 1). 69 69 409 254 5577 0 17863992 31240809 1372937 4436919 1155277 119068 454720 1066134 20846926 36862930 0 0 0 0 7796518 8997306 44705 16740 2094123 11339310 14414929 19180533 23428975 1666393 13433955 168963258 181989697 37174838 36416757 131788420 145572940 The MCA is an innovative and compelling center of contemporary art where the public can directly experience the work and ideas of living artists, and understand the historical, social and cultural context of the art of our time. The Museum boldly interweaves exhibitions, performances, collections, and educational programs to excite, challenge, and illuminate our visitors and to provide insight into the creative process. The MCA aspires to engage a broad and diverse audience, create a sense of community and be a place for contemplation, stimulation, and discussion about contemporary art and culture. 0 0 9794069 0 4086240 (4a) EXHIBITIONS: 1) Doris Salcedo (Feb 21-May 24, 2015). The MCA presented the first retrospective of the work of renowned sculptor Doris Salcedo (Colombian, b. 1958). Salcedo gained prominence in the 1990s for her fusion of postminimalist forms with sociopolitical concerns. Salcedo's work is deeply rooted in her country's social and political landscape, including its long history of civil conflicts. 2) David Bowie Is (Sep 23, 2014-Jan 4, 2015) presents the first retrospective of the extraordinary career of David Bowie-one of the most pioneering and influential performers of our time. More than 400 objects, most from the David Bowie Archive-including handwritten lyrics, original costumes, photography, set designs, album artwork, and rare performance material-are brought together for the first time. 3) Unbound: Contemporary Art After Frida Kahlo (May 3-Oct 5, 2014). Frida Kahlo is one of the most famous artists in the world. Her reputation and persona have grown immensely since her death in 1954, yet posthumously she has been turned into a stereotype of Latin American art. This predicament, along with her celebrity status, often overshadows the confrontational and boldly transgressive nature of her paintings, and ultimately undermines the revolutionary intent of her work. Her work subverted accepted notions of gender, sexuality, social class, and ethnicity, and was prophetic in anticipating the broader cultural concerns-postcolonialism, feminism, civil rights, multiculturalism, and globalization-that reached a crescendo in the 1960s and continue to be relevant today. Artist in Residence: 4) Goshka Macuga Residency (Spring 2013-14). Following her critically acclaimed solo exhibition at MCA Chicago, Polish-born, London-based artist Goshka Macuga returned to Chicago to embark on a yearlong project as artist in residence. Macuga's MCA exhibition, the first ever survey of her work, emphasized the investigative quality of her artistic practice. Visual and written records of the artist's many adventures and encounters were made accessible to the public, both on-site at the museum and online, as her journey moved to its conclusion-the eventual shape or form of which was determined in the second half of the residency. Ascendant Artist: 5) Anne Collier (Nov 22, 2014-Mar 8, 2015) was the photographer's first major exhibition, tracing her career from 2002 to the present. Encompassing around forty works, the exhibition presented several themes that dominated Collier's (American, b. 1970) practice during the past decade, including pop psychology, the clichés and conventions of commercial photography, autobiography, and the act of looking or seeing. These recurring themes provided insights into pressing issues photographers often face today, especially an artist working in the powerful wake of feminism. 6) Simon Starling: Metamorphology (Jun 7-Nov 2, 2014). Since emerging from the Glasgow art scene in the early 1990s, Simon Starling (British, b. 1967) has established himself as one of the leading artists of his generation, working in a wide variety of media (film, installation, photography) to interrogate the histories of art and design, scientific discoveries, and global economic and ecological issues, among other subjects. The recipient of the 2005 Turner Prize, Starling has had major exhibitions in kunsthalles and museums throughout the world, and his work can be found in the collections of some of the world's leading art institutions; yet, surprisingly, he has never been the subject of a survey in a major American museum-until now. BMO Harris Bank Chicago Works: 7) Sarah and Joseph Belknap (Oct 11, 2014-Feb 24, 2015). Sarah and Joseph Belknap, long-time collaborators, move freely between sculpture, photography, video, and performance in their highly inquisitive artistic practice. Reflecting on our place in the cosmos, their work draws inspiration from the history of science, popular imagination, and their shared sense of wonder. MCA DNA: 8) Alexander Calder (Oct 12, 2013-Aug 9, 2015) traced the development of the artist over a 50-year career, in particular, his exploration of how art can move in response to its physical environment. The exhibition presented examples of Calder's (American, 1898-1976), mobiles, stabiles, and works on paper dating from the 1920s to the 1970s. 9) Richard Hunt (Dec 18, 2014-May 17, 2015). Richard Hunt (American, b. 1935), a longtime resident of Chicago and one of the city's most accomplished artists, has contributed significantly to the history of abstract sculpture. Hunt turned eighty in 2015, and the MCA celebrated his life and artistic achievements with exhibition of his sculptures and drawings, dating from the 1950s through the 1990s. These works reflect the development of Hunt's style-from smaller objects made of welded scrap materials to monumentally scaled metal sculptures. MCA Screen: 10) Clemens Von Wedemeyer (Feb 24-Jul 26, 2015). The moving-image installations of Clemens von Wedemeyer (German, b. 1974) blur the line between film and fine art to produce rigorously analytical works. The exhibition features Muster (Rushes) (2012), an HD video simultaneously projected on two of three screens, which probes the merits and limits of historical reconstruction. Each narrative takes place at a former Benedictine monastery in Germany that functioned as a concentration camp during the Nazi era, a reformatory for girls, and later a psychiatric clinic. Taken together, they offer complex, misleading, and violent incarnations of German history and culture. 11) Leslie Hewitt in Collaboration with Bradford Young (May 17-Aug 31, 2014). The two-channel video installation Untitled (Structures) by Leslie Hewitt (American, b. 1977) and Bradford Young (American, b. 1977) is comprised of a series of silent vignettes, filmed at sites connected to the Civil Rights movement and the struggle for racial equality in the United States. Many of the buildings and urban landscapes seem unremarkable today, the signs of their past significance at risk of being forgotten. MCA Chicago Plaza Project: 12) Yinka Shonibare, MBE (Jun 16-Nov 10, 2014). London-based artist Yinka Shonibare, MBE (British, b. 1962) has spent his life in England and Nigeria-two countries with a long, complex relationship. Born in England, but raised in Lagos in the wake of Nigeria's independence, Shonibare is influenced by his personal experiences in a newly liberated nation and its former colonial ruler. His works explore and question the construction of cultural and national identity in a globalized society. Shonibare's MCA Plaza installation included three of his new Wind Sculptures. Nearly 20 feet high, each sculpture captures the movement of a billowing bolt of fabric. Their design was inspired by the sails of ships whose patterns derived from Dutch wax fabrics. Permanent Collection: 13) Body Doubles (Oct 25, 2014-Apr 19, 2015) raised complex questions about the relationship between the body and identity, and explored the myriad ways that artists have used the body to challenge boundaries-between the individual and society, male and female, interior and exterior, normal and transgressive. As the plurality of the exhibition's title suggests, Body Doubles recognized that the body is not fixed but rather in a perpetual state of flux and transformation. 2387193 0 27009 4(b) EDUCATION:The MCA is Chicago's only museum dedicated to the art of our times. As an integral component of the museum's mission, the MCA offered a full range of educational programs during the 2014-2015 program year for its various audiences including students, families, adults, teachers, and teens. Education programs continue to serve a diverse pool of Chicago Public Schools students and teachers, and are provided to all Illinois school audiences on a complimentary basis to facilitate access and encourage broad participation. A) The MCA continued its successful school tour programs for students in grades 1 -12. These tours, all led by practicing artists, continue to be the cornerstone of our Education programs and provide the broadest exposure to contemporary art for students in grades 1-12. This year, we reached 9,875 students from 135 schools; 84 of these schools serve student bodies that are 75-99 percent low income. B) The MCA's program for 15-19 year olds, Teen Creative Agency (TCA), completed its fourth year during the summer 2015, and the inaugural group of teens has now segued into program alumni. Guided by two local artists who facilitated the weekly sessions, TCA members led in-gallery activities, took monthly trips to cultural organizations, Chicago neighborhoods and artist studios, and worked alongside MCA staff and artists on projects. C) From its origins as a week-long summer experience, the MCA Teacher Institute has evolved into a year-long immersive and intensive professional development program for teachers. During this year's Institute, teachers used contemporary art and MCA resources to explore their teaching practice, experiment with curriculum, and collaborate with other teachers. D) Our popular Family Day programming continued with more than 1000 families participating in the program. Families with children under the age of 12 receive complimentary admission on the second Saturday of each month, October - May. E) As part of our wide-ranging Education programs, the MCA presented a diverse range of public programs including conversations, lectures, and panels that explore the visual and intellectual complexities of contemporary art and design and their connection to culture and history. 1377337 0 320920 (4c) PERFORMANCES: The MCA Stage performance season cross-pollinateed with the museum's exhibition programming, and this fall, audiences enjoyed numerous opportunities to compliment and enhance their David Bowie Is experience. The MCA Stage saw a 38 percent increase in attendance from the previous season. Nearly 19,000 people enjoyed the MCA Stage. 1) Come, been, and gone (Oct 25-27, 2014). Ballet met punk, and neither came out the same. In its highly anticipated first visit to Chicago, the electrifying Michael Clark Company provocatively paid homage to the decadence and unbridled fun of 1970s club culture. British dance iconoclast Michael Clark set his choreography in come, been and gone to the music of fellow rebel David Bowie, and collaborated with video artist and dance film pioneer Charles Atlas. 2) Bowie Changes Bobby Conn Plays Station to Station (Nov 15, 2014) In conjunction with David Bowie Is, this hybrid concert series was a lightning rod for Chicago musicians to shake down the Bowie songbook, recreating classic albums-their way. Culture warrior Bobby Conn donned glitter and heels to channel the Thin White Duke in all his occult Krautrock-inspired greatness in his tribute concert of Bowie classic Station to Station. 3) Stan's Cafe The Cardinals (Jan 22-24, 2015). Presented as part of the Chicago International Puppet Theater Festival, this thought-provoking, witty, and hugely entertaining work, explored three Catholic cardinals on an evangelical mission. They were touring a puppet show to broaden knowledge of the Bible. But for this performance, the puppets went missing-and the cardinals were forced to take their place on the miniature stage, which they did with heartfelt sincerity. As their young female Muslim stage manager both supports the cardinals and conflicts with them, the show raced through scenes from their own very particular take on the Bible and incidents from the Crusades, finally arriving in the present-day Middle East. 4) Sonia Sanchez Le Ca (The Id) (Feb 13-15, 2015). Presented as part of the Chicago Flamenco Festival 2015, phenomenal dancer Sonia Sanchez channeled the subconscious depth of flamenco, raw and unadorned, in Le Ca. Her solo dance was propelled by electric guitarist David Soler and vocalist Miguel Angel ("el Londro"). Le Ca marked a genuine creative breakthrough in flamenco, extolling technique and a minimal aesthetic over the genre's typically ornate costumes and narrative. Using a bare stage, Sanchez commanded attention to flamenco's energy and gesture in a barrage of steps and mesmerizing arms and hands that drank in the electrified sound of guitar and vocals, exciting the senses while unleashing deep-set emotion. 1552196 0 0 (4d) COMMUNICATIONS AND COMMUNITY ENGAGEMENT: To implement the MCA's strategic vision, the Communications and Community Engagement (CCE) team plays a crucial role in activating the MCA as an audience-engaged platform for producing art, ideas, community, and conversation around the creative process. CCE takes a lead role in building relationships with Chicago's many diverse communities while establishing the museum as integral within our city. A targeted mix of print, digital, and outdoor advertisements, as well as consistent editorial media coverage, make the museum widely visible in Chicago and out of town. Collaborations with cultural partners is another important way the team promotes audience-sharing with the city. Online audiences benefit from substantive and interactive web resources that range from the museum's website and high-quality videos to our highly active social media presence on Twitter, Instagram, and Facebook pages. 336759 0 434939 (4d-2) MEMBERSHIP 506569 0 118935 (4d-e) FOOD SERVICE 490098 0 518266 (4d-4) PARKING 1449186 0 0 (4d-5) DESIGN, PUBLISHING & NEW MEDIA 4334808 0 1072140 17893407 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 1 169 0 1 409 1 1 1 1 CJ EI VI 0 0 0 1 1 0 0 0 0 X 69 69 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X Peggy Papaioannou 3123973813 220 East Chicago Avenue Chicago IL 606112643 KING HARRIS BOARD CHAIR 10 0 X X 0 0 0 STEFAN EDLIS VICE CHAIR AND TRUSTEE 5 0 X X 0 0 0 ANNE KAPLAN VICE CHAIR AND TRUSTEE 10 0 X X 0 0 0 SYLVIA NEIL VICE CHAIR AND TRUSTEE 5 0 X X 0 0 0 ROB BELLICK SECRETARY AND TRUSTEE 5 0 X X 0 0 0 MICHAEL O'GRADY TREASURER AND TRUSTEE 5 0 X X 0 0 0 SARA ALBRECHT TRUSTEE 2 0 X 0 0 0 MICHAEL ALPER TRUSTEE 2 0 X 0 0 0 JENNIFER AUBREY TRUSTEE 2 0 X 0 0 0 GERHARD BETTE TRUSTEE 2 0 X 0 0 0 LESLIE BLUHM TRUSTEE 2 0 X 0 0 0 MARLENE BRESLOW-BLITSTEIN TRUSTEE 2 0 X 0 0 0 MARC BROOKS TRUSTEE 2 0 X 0 0 0 MICHAEL CANMANN TRUSTEE 5 0 X 0 0 0 CAROL COHEN TRUSTEE 2 0 X 0 0 0 NANCY CROWN TRUSTEE 2 0 X 0 0 0 ROBERT DEFARES TRUSTEE 2 0 X 0 0 0 DONALD J EDWARDS TRUSTEE 2 0 X 0 0 0 ELISSA HAMID EFROYMSON TRUSTEE 2 0 X 0 0 0 LOIS EISEN TRUSTEE 5 0 X 0 0 0 LARRY FIELDS TRUSTEE 2 0 X 0 0 0 ANN FEINBERG TRUSTEE 2 0 X 0 0 0 BRENDA FLEISSNER TRUSTEE 2 0 X 0 0 0 JAY FRANKE TRUSTEE 2 0 X 0 0 0 NICHOLAS GIAMPIETRO TRUSTEE 2 0 X 0 0 0 JAMES A GORDON TRUSTEE 2 0 X 0 0 0 KENNETH C GRIFFIN TRUSTEE 2 0 X 0 0 0 JACK GUTHMAN TRUSTEE 5 0 X 0 0 0 WILLIAM J HOKIN TRUSTEE 2 0 X 0 0 0 WILLIAM HOOD TRUSTEE 2 0 X 0 0 0 CYNTHIA HUNT TRUSTEE 5 0 X 0 0 0 GRETCHEN JORDAN TRUSTEE 2 0 X 0 0 0 DONALD KAUL TRUSTEE 2 0 X 0 0 0 LIZ LEFKOFSKY TRUSTEE 2 0 X 0 0 0 RON LEVIN TRUSTEE 5 0 X 0 0 0 JAMES H LITINSKY TRUSTEE 2 0 X 0 0 0 ROBERT N MAYER TRUSTEE 2 0 X 0 0 0 NANCY A LAUTER MCDOUGAL TRUSTEE 2 0 X 0 0 0 MARQUIS D MILLER TRUSTEE 5 0 X 0 0 0 KATE NEISSER TRUSTEE 2 0 X 0 0 0 MARTIN NESBITT TRUSTEE 2 0 X 0 0 0 JAY OWEN JR TRUSTEE 2 0 X 0 0 0 CAROL PRINS TRUSTEE 2 0 X 0 0 0 NAOMI MORI REESE TRUSTEE 2 0 X 0 0 0 EVE ROGERS TRUSTEE 2 0 X 0 0 0 CARI SACKS TRUSTEE 5 0 X 0 0 0 MARJORIE SUSMAN TRUSTEE 2 0 X 0 0 0 SARA SZOLD TRUSTEE 2 0 X 0 0 0 KATHY TASLITZ TRUSTEE 2 0 X 0 0 0 DIA WEIL TRUSTEE 2 0 X 0 0 0 HELEN ZELL TRUSTEE 5 0 X 0 0 0 MARTIN E ZIMMERMAN TRUSTEE 2 0 X 0 0 0 MARILYNN B ALSDORF LIFE TRUSTEE 2 0 X 0 0 0 JOHN D CARTLAND LIFE TRUSTEE 2 0 X 0 0 0 MARSHALL FRONT LIFE TRUSTEE 2 0 X 0 0 0 HELYN D GOLDENBERG LIFE TRUSTEE 2 0 X 0 0 0 DAVID HARTT ARTIST TRUSTEE 2 0 X 0 0 0 DORIS HOLLEB LIFE TRUSTEE 2 0 X 0 0 0 MARY ITTELSON LIFE TRUSTEE 2 0 X 0 0 0 JOHN C KERN LIFE TRUSTEE 2 0 X 0 0 0 SALLY MEYERS KOVLER LIFE TRUSTEE 2 0 X 0 0 0 LEWIS MANILOW LIFE TRUSTEE 2 0 X 0 0 0 BEATRICE CUMMINGS MAYER LIFE TRUSTEE 2 0 X 0 0 0 JUDITH NEISSER LIFE TRUSTEE 2 0 X 0 0 0 DORIS STERNBERG LIFE TRUSTEE 2 0 X 0 0 0 DARYL GERBER STOKOLS LIFE TRUSTEE 2 0 X 0 0 0 DONNA A STONE LIFE TRUSTEE 2 0 X 0 0 0 KRISTIN STEVENS TRUSTEE 2 0 X 0 0 0 ALLEN M TURNER LIFE TRUSTEE 2 0 X 0 0 0 MADELEINE GRYNSZTEJN PRITZKER DIRECTOR AND CHIEF EXECUTIVE OFFICER 40 0 X 443245 0 25423 TERESA SAMALA DE GUZMAN CHIEF OPERATING OFFICER - 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 0 20316017 0 387176 0 721397 0 19981796 18728947 0 2196793 0 609723 0 20316017 17077566 196444 1951619 0 496682 0 18728947 17370190 93317 51828 0 437769 0 17077566 16314528 40885 1375753 0 360976 0 17370190 0 0.86 0.14 0 0 0 3523259 3523259 0 57200138 25887753 31312385 0 0 0 0 0 6673088 4697926 1975162 0 0 0 0 36810806 Offshore Common Stock Funds Mutual Funds 45710391 F Large Cap Equities Mutual Funds 17841968 F International Equities Mutual Funds 18148639 F Mid Cap Equities Mutual Funds 2772168 F Small Cap Equities Mutual Funds 4688943 F Multifamily Portfolio LTD Partnership 1760000 C 90922109 Derivatives Mark to Market 2178567 Rental Deposits 111025 2289592 X 44940327 0 45763 0 8140409 8186172 36754155 79251 29524 108775 36862930 27750899 45763 0 0 4355412 4401175 23349724 79251 0 79251 23428975 Schedule D, Part III, Line 1 In conformity with the practice commonly followed by most American art museums, the value of the Museum's collection is not included in the financial statements. Contributions for the purchase of art objects, the proceeds from deaccessions of art and the cost of art objects purchased are reported as other changes in net assets in the statement of activities. The Museum's policy is to maintain and continue to acquire significant works of contemporary art (principally 1945 to present). From time to time, objects may be sold in accordance with the Museum's collection management policy. Deaccessions may result if one of the following conditions has been met: (a) physical condition has deteriorated to a point beyond display or study; or (b) an object is believed to be no longer pertinent to the scope of the Museum's collection. All proceeds realized from deaccessions are allocated to purchase other works of art. Proceeds from deaccessions amounted to $0 and $6,980 for the year ended June 30, 2015 and 2014, respectively. Schedule D, Part III, Line 4 The collection is comprised of approximately 6,230 objects in all media created during the twentieth and twenty-first centuries. Through exhibitions, preservation and research, the collection supports the museum's mission to be an innovative and compelling center of contemporary art where the public can directly experience the work and ideas of living artists, and understand the historical, social, and cultural context of the art of our time. Schedule D, Part V, Line 4 The endowment funds are used to support the Museum's operations, subject to a spending policy. The Museum draws 5.0% of the average market value of assets over a 12 quarter period ending with the prior 12/31. Schedule D, Part X, Line 2 The Museum's application of accounting principles generally accepted in the United States of America regarding uncertain tax positions had no effect on its financial position as management believes the Museum has no material unrecognized income tax benefits or losses, including any potential risk of loss of its not-for-profit status. The Museum would recognize interest and penalties related to unrecognized tax positions in interest and income tax expense, respectively. However, the Museum has no amounts accrued for interest or penalties as of June 30, 2015 and 2014. There are no ongoing federal, state, or local tax audits; however, the Museum's tax returns for 2012 and subsequent years remain open to examination. Schedule D, Part XI, Line 2d Investment Spending Policy Draw $3,785,000; Rental Expenses $603,970; COGS (Store) $3,751,439. Schedule D, Part XI, Line 4b Dividends and Interest $245,652; Realized Losses ($216,128). Schedule D, Part XII, Line 2d Rental Expenses $603,970; COGS (Store) $3,751,439; and rounding $3. Europe (including Iceland and Greenland) 0 0 Program Services Artist Fees 635591 South America 0 0 Program Services Artist Fees 65077 Central America and the Caribbean 0 0 Investments Navis Asia Navigator US Feeder LLC $1.5M, Archer Capital Offshore Fund, Ltd $3.0M, and Value Act Capital International I, L.P. $1.5M 6000000 Europe (including Iceland and Greenland) 0 0 Investments Marshall Wace Funds PLC $2.5M 2500000 0 0 9200668 1 0 0 0 0 0 X X X X X X 1 Marts and Lundy 1200 Wall Street West Lyndhurst NJ 07071 Provides fundraising consulting for mail, email, and in person solicitations. 0 0 7000 -7000 Julie Paradise 1445 N State Parkway Apt 1002 Chicago IL 60610 Provides fundraising consulting for mail, email, and in person solicitations. 0 0 6000 -6000 0 13000 -13000 Vernissage 226681 25123 201558 0 0 0 98545 0 32703 David Bowie Gala 2529250 1495426 1033824 0 0 0 368576 155052 361150 1 163036 -48374 211410 0 0 0 43531 0 66584 2918967 1472175 1446792 0 0 0 510652 155052 460437 1126141 320651 X X X X 0 0 0 0 0 0 0 0 0 MADELEINE GRYNSZTEJN PRITZKER DIRECTOR AND CHIEF EXECUTIVE OFFICER 443245 0 0 0 0 0 13000 0 12423 0 468668 0 0 0 MICHAEL DARLING CHIEF CURATOR 189270 0 0 0 0 0 9675 0 16737 0 215682 0 0 0 LISA M KEY CHIEF DEVELOPMENT OFFICER AND ASSISTANT SECRETARY 177100 0 0 0 0 0 9500 0 6480 0 193080 0 0 0 MATTHEW RENTON DIRECTOR OF COMMUNICATIONS AND COMMUNITY ENGAGEMENT 145826 0 0 0 0 0 0 0 17105 0 162931 0 0 0 PEGGY PAPAIOANNOU CHIEF FINANCIAL OFFICER AND ASSISTANT TREASURER 142869 0 0 0 0 0 7364 0 5999 0 156232 0 0 0 GWEN PERRY DAVIS DEPUTY DIRECTOR OF DEVELOPMENT 146515 0 3000 0 0 0 0 0 6017 0 155532 0 0 0 Schedule J, Part I, Line 3 The Compensation Committee annually reviews performance, goal achievements, peer data, surveys, etc., when setting the annual salary for the Pritzker Director / Chief Executive Officer. The Committee reviews salaries of senior management and also approves the annual allocation to the staff salary increase pool. The Committee documents its findings in writing, and employees are not present when their compensation is set. Michael O'Grady Trustee and Treasurer 35253 Letter of Credit Fees 0 Schedule L, Part IV A member of the Museum's Board of Trustees is an executive with a financial institution that is a party to the letter of credit. The service was provided at rates consistent with market rates for similar not-for-profits. X 56 0 N/A X 0 N/A X 24 734316 Transferred Value X Food/Beverage for event 1 616 Invoice 0 0 1 0 Schedule M, Part I, Line 33 See Schedule D, Part XIII - Supplemental Information Form 990, Part VI, Section A, Line 2 The following trustees have a family relationship: Beatrice C Mayer and Robert Mayer; Judith Neisser and Kate Neisser; Michael Alper and Helyn Goldenberg. The following trustees have a business relationship: Robert Bellick and James Gordon; Kenneth Griffin and James Gordon; and Anne Kaplan and Elizabeth Lefkofsky. Form 990, Part VI, Section B, Line 11b Review of the IRS Form 990 was delegated to the audit committee. After review a draft copy of Form 990 was emailed to all board members. After a 30 day review period, the Form 990 is then filed electronically with the IRS. Form 990, Part VI, Section B, Line 12c The Museum maintains a Conflict of Interest Policy which applies to all trustees, members of standing committees, as well as senior management and other designated members of staff. The Policy requires that each person to whom the policy applies complete the annual disclosure statement to identify any business, financial or personal interest in matters relating to the Museum. The Policy forbids such individuals from voting on or using their personal influence in connection with such matters. In event the Museum does conduct business with a related party, the financial terms of those relationships are reported annually to the Audit Committee, whose members must be independent per the terms of the charter. Form 990, Part VI, Section B, Line 15 The Compensation Committee annually reviews performance, goal achievement, peer data, surveys, etc., when setting the annual salary for the Pritzker Director / Chief Executive Officer. The Committee reviews salaries of senior management and also approves the annual allocation to the staff salary increase pool. The Committee documents its findings in writing, and employees are not present when their compensation is set. Form 990, Part VI, Section C, Line 19 Upon request, the Museum provides the information. Form 990, Part XI, Line 9 Collection acquisitions ($1,478,691); Unrealized loss on Derivatives $197,137; rounding ($3).