2016-05-12T08:59:46-05:00 2015-06-30 263753134 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2014-07-01 042103607 MUSEUM OF FINE ARTS MUSE 6173693281 465 HUNTINGTON AVENUE BOSTON MA 02115 MARK B KERWIN DEPUTY DIRECTOR & CFO 6173693281 2016-05-05 1 JOSEPH M GISO P00030126 6177610600 2016-05-05 2014 2016-08-17 19:52:53Z MATTHEW TEITELBAUM 465 HUNTINGTON AVENUE BOSTON MA 02115 412232552 0 X WWW.MFA.ORG X 1870 MA SEE SCHEDULE O. 42 41 1500 1310 1775435 1668765 75078952 62715771 38904608 35014733 55381041 36992847 15507673 16299815 184872274 151023166 4611266 4266000 0 0 51732842 53565386 0 0 5292480 80612133 79350914 136956241 137182300 47916033 13840866 1223036744 1186766810 213051176 200691691 1009985568 986075119 X SEE SCHEDULE O. 0 0 18289016 2419562 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 110,000 VISITORS PARTICIPATED IN THESE VARIOUS PROGRAMS. 16478555 3198962 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 2015, THE MUSEUM PRESENTED MORE THAN 30 EXHIBITIONS. SOME HIGHLIGHTS INCLUDE: MAGNA CARTA: CORNERSTONE OF LIBERTY (JULY 2 - SEPT 1, 2014); JAMIE WYETH (JULY 16 - DEC 28, 2014); GORDON PARKS: BACK TO FORT SCOTT (JAN 17 - SEPT 13 2015); SHINIQUE SMITH: BRIGHT MATTER (AUG 23, 2014 - MARCH 1, 2015); VISITING MASTERPIECE: GUSTAV KLIMT'S ADAM AND EVE (JAN 17 - APRIL 27, 2015); INSIDE THE BOX: MASSACHUSETTS STATE HOUSE TIME CAPSULE REVEALED (MARCH 11 - APRIL 22, 2015); HOLLYWOOD GLAMOUR: FASHION AND JEWELRY FROM THE SILVER SCREEN (SEPT 9, 2014 - MARCH 8, 2015); HERB RIBBS (MARCH 14 - NOV 8, 2015); HOKUSAI (APRIL 5 - AUG 9, 2015); IN THE WAKE: JAPANESE PHOTOGRAPHERS RESPOND TO 3/11 (APRIL 5 - JULY 12, 2015); GOYA: ORDER AND DISORDER (OCT 12, 2014 - JAN 19, 2015); LEONARDO DA VINCI AND THE IDEA OF BEAUTY (APRIL 15 - JUNE 14, 2015); ETC. 24712919 4266000 22158447 SCHOOL OF MUSEUM OF FINE ARTS PROGRAM:THE SCHOOL OF 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 2014-15 ACADEMIC YEAR, THE SCHOOL HAD 1,111 STUDENTS ACROSS ALL PROGRAMS. 2329924 2828334 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. OFFERING AT THE SHOP INCLUDING 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 TO 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. 40289036 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. 1118639 3922290 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 AREA 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. ENCOURAGEMENT TO MUSEUM VISITATION, OF COURSE, IS PROVIDED THROUGH CONVENIENT PARKING. 1288174 2744190 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 NOR 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. 4047594 7237762 MEMBERSHIP & VISITORS:OVER 1,227,000 VISITORS ATTENDED THE MUSEUM DURING FISCAL YEAR 2015. THE MUSEUM HAS AN ADMISSION CHARGE; HOWEVER DURING THE FISCAL YEAR 2015, 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 72,322 ACTIVE MEMBERS HOUSEHOLDS. THERE ARE 5 LEVELS OF ANNUAL MEMBERSHIP WITH FEES RANGING FROM $75 TO $2,999. EACH CATEGORY OFFERS A WIDE VARIETY OF PRIVILEGES, SUCH AS FREE ADMISSION, PUBLICATIONS, RECIPROCAL MEMBER BENEFITS AT OTHER MAJOR ART MUSEUM AROUND THE U.S. AND SPECIAL EVENTS. 3430612 5419489 OTHER MISC. PROGRAM SERVICES: 52503979 22152065 111984469 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 1357 11 1 1500 1 1 1 0 0 0 0 1 1 0 0 0 0 X 42 41 1 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 PETER C ALDRICH ELECTED TRUSTEE 1.00 X 0 0 0 JILL AVERY ELECTED TRUSTEE - CHAIRMAN OF OVERSEERS 1.00 X X 0 0 0 EDWARD BAKER-GREENE ELECTED TRUSTEE 1.00 X 0 0 0 KEVIN CALLAGHAN ELECTED TRUSTEE - TREASURER 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 HOWARD COX ELECTED TRUSTEE 1.00 X 0 0 0 STEPHEN A FINE ELECTED TRUSTEE 1.00 X 0 0 0 DAVID GOEL 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 R KIRK ELECTED TRUSTEE 1.00 X 0 0 0 LIZBETH KRUPP 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 ERNST VON METZSCH ELECTED TRUSTEE 1.00 X 0 0 0 ROBERTA WEINER ELECTED TRUSTEE 1.00 X 0 0 0 CAROL NOBLE ELECTED TRUSTEE 1.00 X 0 0 0 DAVID CROLL ELECTED TRUSTEE-PRESIDENT OF THE BOARD OF TRUSTEES 1.00 X X 0 0 0 LEE PELTON ELECTED TRUSTEE 1.00 X 0 0 0 ABIGAIL ROSS GOODMAN 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 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 A WEATHERBIE ELECTED TRUSTEE - SECRETAR 1.00 X X 0 0 0 BETTINA BURR ELECTED TRUSTEE - VP OF THE BOARD 1.00 X X 0 0 0 PATRICIA KRAFT ELECTED TRUSTEE 1.00 X 0 0 0 JEFFREY LEIDEN ELECTED TRUSTEE 1.00 X 0 0 0 MARTIN WALSH-MAYOR CITY OF BOSTON APPOINTED TRUSTEE 1.00 X 0 0 0 DEBORAH BORNHEIMER - BOSTON ATHENAE APPOINTED TRUSTEE 1.00 X 0 0 0 STACEY WEAVER - MFA ASSOCIATES APPOINTED TRUSTEE 1.00 X 0 0 0 ROBERT NAGLE - SMFA BOARD OF GOVERNORS - APPOINTED TRUSTEE 1.00 X 0 0 0 CHRISTINE REIF - MIT APPOINTED TRUSTEE 1.00 X 0 0 0 JOHN MCDONOUGH - SUPERINTENDENT APPOINTED TRUSTEE 1.00 X 0 0 0 LOUIS MENAND - HARVARD U APPOINTED TRUSTEE 1.00 X 0 0 0 JEFFREY RUDMAN - BPL APPOINTED TRUSTEE 1.00 X 0 0 0 MALCOLM A ROGERS DIRECTOR 40.00 X 837850 0 352287 KATHERINE G GETCHELL DEPUTY DIRECTOR 40.00 X 413544 0 39827 MARK KERWIN DEPUTY DIRECTOR & CFO 40.00 X 397176 0 43821 CHRISTOPHER BRATTON DEPUTY DIR. & PRESIDENT OF SCHOOL 40.00 X 355330 0 41062 MARIA MULLER DEPUTY DIRECTOR 40.00 X 344177 0 29481 CYNTHIA GLOTT DIR. OF PLANNING/ADMIN 40.00 X 195281 0 33005 ANNE COWIE SMFA VP OF INSTITUTIONAL ADVANCE 40.00 X 182134 0 30381 SARAH MCKINNON SR. VP FOR ACADEMIC AFFAIR & DEAN 40.00 X 192678 0 30861 DAWN GRIFFIN SR. DIRECTOR OF COMMUNICATIONS 40.00 X 184352 0 24103 THOMAS CATILINI SR. DIRECTOR OF INFORMATION SYSTEM 40.00 X 186183 0 25640 3288705 0 650468 65 0 1 0 CONSIGLI CONSTRUCTION CO INC 72 SUMMER ST MILFORD MA 01757 CONSTRUCTION 8671009 RESTAURANT ASSOCIATES PO BOX 91337 CHICAGO IL 60693 CATERING 1482544 DTZ INC 275 GROVE ST SUITE 3-200 AUBRNDALE MA 02466 CLEANING SERVICES 1333840 CONNELLY PARTNERS LLC 46 WALTHAM ST 4TH FL BOSTON MA 02118 MEDIA 1268605 SHAWMUT WOODWORKING 560 HARRISON AVE BOSTON MA 02118 CONSTRUCTION 844389 64 9927145 88954 118733 52580939 8249005 62715771 TUITION SCHOOL 611600 22158447 22158447 ADMISSION FEES INCOME 713990 7237762 7237762 EXHIBITION INCOME 713990 3198962 3198962 EDUCATION PROGRAM REVENUE 611710 2419562 2419562 35014733 2633469 1312943 1320526 3449768 2058370 1391398 1391398 453646 937752 290196369 387528 256224519 0 33971850 387528 34359378 34359378 119162 88954 133894 -14732 -14732 5620937 2792603 2828334 2828334 OTHER ANCILLARY SERVICES 900099 5428335 5419489 8846 PARKING 812930 3922290 3922290 FOOD SERVICES 722100 2744190 2744190 12094815 151023166 49929036 1775435 36602924 4266000 4266000 3058483 779082 1929586 349815 38196278 30510298 5057200 2628780 2114123 1603441 358042 152640 7233337 5846870 941610 444857 2963165 2247391 501833 213941 2333477 2333477 743842 41159 702683 306060 93400 212660 4820136 1158955 3606544 54637 2592728 1804625 777971 10132 3646349 2962885 683464 2859026 2188633 496059 174334 1327858 122097 1202050 3711 5688929 5417642 271287 1430126 934463 395494 100169 4412749 3516287 896462 21970396 21530565 404982 34849 1064145 530433 533712 PURCHASE WORKS OF ART 7123732 7105182 18550 EXHIBITION & SPEC. PROG 5550174 5550174 EQUIPMENT & RENTAL 4933460 4540811 354034 38615 OTHER MISC. PROGRAMS 3900021 2899321 155953 844747 4647706 4001278 405175 241253 137182300 111984469 19905351 5292480 15873312 8905891 60965141 68032984 74491795 73663457 1328059 1578883 352140 352995 1741049 1760787 2102070 1911363 618845516 230519419 402178596 388326097 429481956 398134489 230636941 240011554 3885685 4088310 1223036744 1186766810 18982977 17494260 2528705 5047124 160000000 145000000 487873 160340 31051621 32989967 213051176 200691691 X 197182855 197448252 514008731 485425053 298793982 303201814 1009985568 986075119 1223036744 1186766810 X 13840866 -36378882 1208042 -2580475 X 0 1 X 1 1 1 X 67506438 53736302 45346308 75078952 62715771 304383771 67506438 53736302 45346308 75078952 62715771 304383771 16394928 287988843 2974922 2891464 2409488 2209404 2633469 13118747 669405 522586 849234 2152998 1669765 5863988 323366506 263397274 0.89060 0.88230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 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 484035285 17284493 88079218 789747 11728460 4730068 572150721 0.01880 0.42970 0.55150 1 0 20304653 20304653 541156553 197578050 343578503 56703978 32941369 23762609 680332 680332 388326097 211421000 F BENEFICIAL INTEREST IN PERPETUAL TRUST 23590554 F FUND HELD BY TRUSTEE 5000000 F 240011554 LINE OF CREDIT 815503 ASSET RETIREMENT OBLIGATION 7001525 LIABILITY UNDER INTEREST RATE SWAP 23959610 OTHER LIABILITIES 1213329 32989967 114802448 -36378882 1208042 2270499 -32900341 147702789 3454271 -133894 3320377 151023166 138712897 4984868 4984868 133728029 3454271 3454271 137182300 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 LOAN, 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 800 INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS -1,131,070. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS -1,449,405. COST OF SALES - MERCHANDISING OPERATIONS 2,792,603. RENTAL EXPENSES NETTED ON PAGE 9, PART VIII, LINE 6 2,058,371. PART XI, LINE 4B - OTHER ADJUSTMENTS: ART IN BLOOM EXPENSE NET WITH REVENUE -133,894. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES - MERCHANDISING OPERATIONS 2,792,603. ART IN BLOOM EXPENSE NET WITH REVENUE 133,894. RENTAL EXPENSES NETTED ON PAGE 9, PART VIII, LINE 6 2,058,371. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT N/A 115006820 0 0 0 0 0 0 115006820 0 115006820 1 0 1 1 1 0 ART IN BLOOM 208116 88954 119162 133894 208116 88954 119162 133894 133894 -14732 1 STUDENT FINANCIAL AID - OPERATING FUNDS SCHOLARSHIP 347 3423384 STUDENT FINANCIAL AID - ENDOWED FUNDS SCHOLARSHIP 131 678166 STUDENT FINANCIAL AID - EMPLOYEE WAIVERS 1 26145 STUDENT TRAVEL AWARDS 24 120055 FACULTY ENRICHMENT AWARD PROGRAMS 15 18250 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 MEMBER TO PURSUE VARIOUS PROJECTS. X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 MALCOLM A ROGERS DIRECTOR 727600 0 35000 0 75250 0 342358 0 9929 0 1190137 0 0 0 KATHERINE G GETCHELL DEPUTY DIRECTOR 388133 0 25000 0 411 0 23400 0 16427 0 453371 0 0 0 MARK KERWIN DEPUTY DIRECTOR & CFO 370490 0 25000 0 1686 0 23400 0 20421 0 440997 0 0 0 CHRISTOPHER BRATTON DEPUTY DIR. & PRESIDENT OF SCHOOL 317592 0 0 0 37738 0 20826 0 20236 0 396392 0 0 0 MARIA MULLER DEPUTY DIRECTOR 323421 0 20000 0 756 0 20826 0 8655 0 373658 0 0 0 CYNTHIA GLOTT DIR. OF PLANNING/ADMIN 191136 0 3745 0 400 0 17714 0 15291 0 228286 0 0 0 ANNE COWIE SMFA VP OF INSTITUTIONAL ADVANCE 181756 0 0 0 378 0 15150 0 15231 0 212515 0 0 0 SARAH MCKINNON SR. VP FOR ACADEMIC AFFAIR & DEAN 190503 0 0 0 2175 0 15591 0 15270 0 223539 0 0 0 DAWN GRIFFIN SR. DIRECTOR OF COMMUNICATIONS 180502 0 3488 0 362 0 16502 0 7601 0 208455 0 0 0 THOMAS CATILINI SR. DIRECTOR OF INFORMATION SYSTEM 182321 0 3614 0 248 0 6261 0 19379 0 211823 0 0 0 PART I, LINE 1A MALCOLM ROGERS - TAXABLE HOUSING ALLOWANCE OF $62,500 BASED ON THE EMPLOYMENT CONTRACT. ALSO INCLUDED IN THE FINANCIAL STATEMENTS IN SECTION PART IX, STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEAR ENDED JUNE 30, 2015 IS CERTAIN COMPENSATION PAID TO THE DIRECTOR, SUBSEQUENT TO THE W-2 REPORTED ON IN SCHEDULE J. TAXABLE HOUSING ALLOWANCE OF $35,000 WAS PAID TO CHRISTOPHER BRATTON. SOCIAL CLUB DUES FOR CHRISTORPHER BRATTON OF $1,950 ARE ALSO INCLUDED IN OTHER REPORTABLE COMPENSATION. PART I, LINE 7 NON-FIXED AND DISCRETIONARY BONUSES OF $ 35,000 WAS PAID TO MALCOLM ROGERS; $25,000 WAS PAID TO KATHERINE GETCHELL; $25,000 WAS PAID TO MARK KERWIN; $20,000 WAS PAID TO MARIA MULLER; $3,745 WAS PAID TO CYNTHIA GLOTT; $3,614 WAS PAID TO THOMAS CATILINI; AND $3,488 WAS PAID TO DAWN GRIFFIN. 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 0.01020 0.01020 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 EXEMPT FROM A REBATE ANALYSIS. THE MUSEUM DID HAVE AN INDEPENDENT THIRD PARTY SPECIALIZING IN PERFORMING REBATE CALCULATION PERFORM THE CALCULATION AND DETERMINED THAT THE BONDS QUALIFIES FOR AN EXCEPTION TO REBATE SET FORTH IN REGULATION SECTIONS 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 MATERIAL 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, 2014 THROUGH JUNE 30, 2015. THE OVERALL MEASUREMENT PERIOD FOR PRIVATE BUSINESS USE IS MEASURED OVER THE ENTIRE THIRTY YEAR TERM OF THE BONDS. CHRISTOPHER BRATTON TO PROVIDE BRIDGE FINANCING FOR THE PURCHASE OF THE EMPLOYEE'S HOME. X 200000 200000 0 1 1 MARIA MULLER TO PROVIDE BRIDGE FINANCING FOR THE PURCHASE OF THE EMPLOYEE'S HOME. X 150000 152995 0 1 1 352995 MARTIGNETTI COMPANIESCARL MARTIGNE TRUSTEE 130883 MR. CARL MARTIGNETTI, A TRUSTEE OF THE MFA, IS PRESIDENT AND A SHAREHOLDER OF MARTIGNETTI COMPANIES AND AFFILIATED ENTITITES. MARTIGNETTI COMPANY IS MFA LONGTIME VENDOR AND PROVIDES GOODS FOR MFA. 0 X 331 X 152 8249005 FAIR MARKET VALUE 120 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 DONATION. 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 A, LINE 2 MR. RICHARD LUBIN AND MR. KEVIN CALLAGHAN BOTH ARE PARTNERS AT BERKSHIRE INVESTMENT L.P. 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 A 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 -1,131,070. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS -1,449,405. 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