2016-05-13T12:54:31-05:00 2015-06-30 ERNST & YOUNG US LLP 155 NORTH WACKER DR CHICAGO IL 60606 990 2014-07-01 340714336 Cleveland Museum of Art % EDWARD W BAUER CLEV 2164217340 11150 East Boulevard Cleveland OH 44106 Edward Bauer Treasurer 2167072248 2016-05-11 true Bernadette Zita P00089845 3128792000 2014 2016-08-17 19:52:53Z WILLIAM M GRISWOLD 11150 East Boulevard Cleveland OH 44106 199315141 false X www.clevelandart.org X 1913 OH TO PROVIDE A COLLECTION OF ARTWORK REPRESENTING ACHIEVEMENT OF INDIVIDUALS AND CIVILIZATIONS, PAST AND PRESENT, FOR THE BENEFIT OF THE PUBLIC 33 32 525 500 8709 -17347 38649271 49690745 4234840 3383316 24014452 22301972 10341547 2984430 77240110 78360463 0 0 0 0 20636565 22202713 5000 0 2955941 52310033 38733214 72951598 60935927 4288512 17424536 1154212419 1154707265 187730551 190715850 966481868 963991415 X THE MISSION OF THE CLEVELAND MUSEUM OF ART IS TO FULFILL ITS DUAL ROLES AS ONE OF THE WORLD'S MOST DISTINGUISHED COMPREHENSIVE ART MUSEUMS AND AS ONE OF NORTHEASTERN OHIO'S PRINCIPAL CIVIC AND CULTURAL INSTITUTIONS. THE MUSEUM, ESTABLISHED IN 1913 "FOR THE BENEFIT OF ALL THE PEOPLE FOREVER," 1 SEEKS TO BRING THE PLEASURE AND MEANING OF ART TO THE BROADEST POSSIBLE AUDIENCE IN ACCORDANCE WITH THE HIGHEST AESTHETIC, INTELLECTUAL AND PROFESSIONAL STANDARDS. TOWARD THIS END THE MUSEUM AUGMENTS, PRESERVES, EXHIBITS AND FOSTERS UNDERSTANDING OF THE OUTSTANDING COLLECTIONS OF WORLD ART IT HOLDS IN TRUST FOR THE PUBLIC AND PRESENTS COMPLEMENTARY EXHIBITIONS AND PROGRAMS. THE CLEVELAND MUSEUM OF ART EMBRACES ITS LEADERSHIP ROLE IN COLLECTING, SCHOLARSHIP, EDUCATION AND COMMUNITY SERVICE. (1. J.H. WADE II, ACT OF CONVEYANCE OF LAND TO BE USED FOR THE CMA.) false false 7938392 0 CURATORIAL, CONSERVATION AND REGISTRAR. Conserving: In the museum's conservation labs, you will find conservators with specializations ranging from paintings to sculpture, antiquities to contemporary art, and medieval manuscripts to tapestries to Asian folding screens. These individuals have academic backgrounds that include art history, studio art, and chemistry as well as advanced education and training in the conservation of art and historic collections. Their mission is to study, preserve, and conserve the works of art in Cleveland's collection and the works of art traveling here from other museums and collectors around the world. Using simple hand tools and microscopes as well as high-tech tools such as X-radiography and infrared reflectography, these conservators work with patience and precision to examine artwork and perform a wide range of conservation treatments. Walking through the conservation suite on any given day, you may find a conservator closely examining a unique 15th-century engraving, carefully mounting a 6th-century Egyptian Coptic textile for display, working on an Impressionist's masterpiece to bring it as close as possible to its original state and artist's intent, or preparing a fragile porcelain vase to travel within the building or across the world without harm from movement or environmental changes. Today, as part of the museum's renovation and expansion project, the conservation department works in a recently opened 18,000-square-foot suite of state-of-the-art laboratories. It is one of the finest spaces in the country for analysis, study, and conservation of museum collections. Collecting: Central to the mission of the museum is the continued development and preservation of its art collection. The museum's holdings of world art are internationally celebrated and a great source of pride for the Cleveland community and museum field, each year drawing hundreds of thousands of visitors from the region and beyond. The growth of the collections is guided by a philosophy that favors quality over quantity and privileges the singular object over broad coverage in any given field. It is not an encyclopedic collection, but rather a selective survey of the history of art presented with works of the highest aesthetic quality and historical significance. The museum's endowment holds one of the largest acquisition funds of any art museum in the country. Each year, this fund produces income upon which our curators, director, and Board of Trustees draw to acquire new works of art, thus ensuring that our collections remain a dynamic and constantly evolving resource for our visitors. The organization, security, preservation, research, and presentation of our collections are supported by the work of the museum's collections management, conservation, curatorial, education, library, design, and exhibitions staff. Today, as we unveil the transformational renovation and expansion project phase by phase, our collections are coming back on view in state-of-the-art facilities and with 30 percent more gallery space that allows for the display of more works from our collections than ever before. New exhibition spaces further augment our ability to connect audiences with works of art. In addition to complementing the collections, the special exhibitions presented at the museum extend into those historic periods, geographic areas, or media that are absent from or not well represented in our collections. 6301768 134674 Acquisitions of art (PROCEEDS FROM THE DEACCESSION OF ART OBJECTS ARE RESTRICTED TO THE ACQUISITION OF OTHER ART OBJECTS. FY2015 DEACCESSION PROCEEDS WERE $134,674.) 4891595 1595412 EDUCATION, LIBRARY AND COMMUNITY PROGRAMS 27559554 3052450 46691309 true true false true false false false true false true true true false false false true true false 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 false true true true false false true 235 0 true 525 true true true false false false false true true false false false false X 33 32 true false false false false false false true true false false false true true true true true true true false OH X X EDWARD W BAUER 2167072248 11150 EAST BLVD CLEVELAND OH 44106 VIRGINIA N BARBATO BOARD MEMBER 1.0 0.0 X 0 0 0 FREDERICK E BIDWELL BD MBR, INTERIM DIR UNTIL 8/14 1.0 0.0 X X 18 0 0 CHARLES P BOLTON BOARD MEMBER 1.0 0.0 X 0 0 0 REV JAWANZA K COLVIN BOARD MEMBER 1.0 0.0 X 0 0 0 TERRANCE CZ EGGER BOARD MEMBER (UNTIL 9/2014) 1.0 0.0 X 0 0 0 RICHARD H FEARON BOARD MEMBER 1.0 0.0 X 0 0 0 LAUREN RICH FINE BOARD MEMBER 1.0 0.0 X 0 0 0 HELEN FORBES FIELDS BOARD MEMBER 1.0 0.0 X 0 0 0 ROBERT W GILLESPIE BOARD MEMBER 1.0 0.0 X 0 0 0 AGNES GUND BOARD MEMBER 1.0 0.0 X 0 0 0 CYNTHIA AMES HUFFMAN BOARD MEMBER 1.0 0.0 X 0 0 0 SUSAN KAESGEN BOARD MEMBER 1.0 0.0 X 0 0 0 NANCY F KEITHLEY BOARD MEMBER 1.0 0.0 X 0 0 0 WILLIAM P MADAR BOARD MEMBER 1.0 0.0 X 0 0 0 MILTON MALTZ BOARD MEMBER 1.0 0.0 X 0 0 0 SCOTT C MUELLER VICE CHAIR & BOARD MEMBER 1.0 0.0 X X 0 0 0 STEPHEN E MYERS BOARD MEMBER 1.0 0.0 X 0 0 0 JULIA POLLOCK BOARD MEMBER 1.0 0.0 X 0 0 0 PETER RASKIND BOARD MEMBER 1.0 0.0 X 0 0 0 MARK SCHWARTZ UNTIL 82014 BOARD MEMBER 1.0 0.0 X 0 0 0 RICHARD P STOVSKY BOARD MEMBER 1.0 0.0 X 0 0 0 DANIEL P WALSH JR BOARD MEMBER 1.0 0.0 X 0 0 0 WILLIAM L HARTMANN BOARD MEMBER 1.0 0.0 X 0 0 0 LEIGH HAYES CARTER BOARD MEMBER 1.0 0.0 X 0 0 0 KATHERINE TEMPLETON O'NEILL BOARD MEMBER 1.0 0.0 X 0 0 0 PAUL E WESTLAKE BOARD MEMBER 1.0 0.0 X 0 0 0 DOMINIC OZANNE BOARD MEMBER 1.0 0.0 X 0 0 0 R STEVEN KESTNER CHAIRMAN & BOARD MEMBER 1.0 0.0 X X 0 0 0 ALFRED M RANKIN JR ADVISORY CHAIR & BOARD MEMBER 1.0 0.0 X X 0 0 0 ELLEN STIRN MAVEC BOARD MEMBER 1.0 0.0 X 0 0 0 JAMES A RATNER VICE CHAIR & BOARD MEMBER 1.0 0.0 X X 0 0 0 SARAH S CUTLER VICE CHAIR SECRETARY & BOARD MEMBER 1.0 0.0 X X 0 0 0 WILLIAM M GRISWOLD DIR, PRESIDENT (Begin 8/2014) 40.0 0.0 X X 263077 0 2600 DEAN BARRY BEGIN 92014 BOARD MEMBER 1.0 0.0 X 0 0 0 TOBY DEVAN LEWIS BOARD MEMBER (BEGIN 9/2014) 1.0 0.0 X 0 0 0 AUGUST A NAPOLI JR DEP DIR VP & CHIEF ADVANCEMENT 40.0 0.0 X 392031 0 38022 SHARON C REAVES VP & HUMAN RESOURCES DIR 40.0 0.0 X 105832 0 29095 STEPHEN J KNERLY JR ASST SECRETARY 1.0 0.0 X 0 0 0 EDWARD W BAUER TREASURER 40.0 0.0 X 150645 0 32930 DEBORAH A GRIBBON INTERIM CHIEF CURATOR 40.0 0.0 X 300000 0 0 KATHLEEN A TAYLOR DIR ADVANCEMENT ADMINISTRATION 40.0 0.0 X 122180 0 14928 JEFFREY W STREAN DIR DESIGN & ARCHITECTURE 40.0 0.0 X 130745 0 36485 MARJORIE L WILLIAMS SNR DIR ENDOWMENT DEV 40.0 0.0 X 130284 0 20434 JANE ALEXANDER CHIEF INFORMATION OFFICER 40.0 0.0 X 130662 0 14135 MARY E SUZOR DIR COLLECTIONS MANAGEMENT 40.0 0.0 X 119905 0 17340 1845379 0 205969 19 false true false PANZICAGILBANE JOINT VENTURE 7 JACKSON WALKWAY PROVIDENCE RI 02903 CONSTRUCTION MGMT 1618351 STERN ADVERTISING 900 MAIN AVE CLEVELAND OH 44113 ADVERTISING 803719 MASTERPIECE INTERNATIONAL LTD 1699 WALL ST SUITE 725 MOUNT PROSPECT IL 60056 ART TRANSPORTATION 670903 HAHN LOESER PARKS LLP 200 PUBLIC SQ SUITE 2800 CLEVELAND OH 44114 LEGAL 430375 RUSSELL REYNOLDS ASSOCIATES 200 PARK AVE SUITE 2300 NEW YORK NY 10166 EXEC RECRUITMENT 235853 10 0 2030784 47659961 2237378 49690745 MEMBERSHIP DUES 712110 1280080 1280080 0 0 EDUCATION 712110 582996 582996 0 0 COMMUNITY PROG & PERF ART 712110 919274 919274 0 0 SPECIAL EXHIBITIONS 712110 398927 398927 0 0 LIBRARY 712110 93142 93142 0 0 108897 108897 0 0 3383316 8661216 8709 8652507 0 27593 27593 0 0 0 88386251 45428838 75908120 44266213 12478131 1162625 13640756 13640756 0 0 1184465 780345 404120 404120 PARKING GARAGE 812930 786609 0 0 786609 FOOD SERVICES COMMISSION 900099 771008 0 0 771008 PROCEEDS, ART DEACCESSION 900099 134674 134674 0 0 860426 860426 0 2552717 78360463 4782536 8709 23878473 0 0 0 0 0 0 0 0 1585562 946198 316982 322382 0 0 0 0 15787900 12172963 2400585 1214352 1531421 1156416 239546 135459 2087204 1576103 326482 184619 1210626 914176 189367 107083 0 0 0 0 487137 184479 302658 0 238127 0 238127 0 263128 263128 0 0 0 0 2248658 0 2248658 0 3458362 2611501 540959 305902 762051 575445 119200 67406 1966983 1485321 307677 173985 621585 469375 97229 54981 21323 21323 0 0 2168514 1799867 346962 21685 595536 449705 93154 52677 0 0 0 0 0 0 0 0 5175764 4295884 828122 51758 0 0 0 0 11009848 9138174 1761576 110098 519852 392554 81316 45982 ART ACQUISITION & TRANSP 6102289 6102289 0 0 PUBLICATIONS & LIBRARY 909324 909324 0 0 BOND CUSTODIAN & STANDBY 582662 0 582662 0 MAINTENANCE & EQUIPMENT 385924 308739 77185 0 1216147 918345 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ACTIVITIES SCHEDULE C, PART II-B, LINE 1 PAYMENTS TO OUTSIDE FIRMS FOR LEGISLATIVE REPRESENTATION AND GENERAL COMMUNICATIONS WITH ELECTED OFFICIALS ON MUSEUM'S BEHALF. AN ADDITIONAL CONTRIBUTION WAS MADE TO CUYAHOGA COUNTY ARTS AND CULTURE LEVY. X X X X false 772894000 2118000 4419000 20116000 759315000 696112000 9475000 89118000 21811000 772894000 643255000 2503000 75856000 25502000 696112000 675099000 2256000 -15181000 18919000 643255000 582729000 838000 111644000 20112000 675099000 0.14210 0.52210 0.33580 true false 386620724 71308557 315312167 22664233 20829610 1834623 1436895 0 1436895 318583685 ALT INVEST - ABSOLUTE RETURN 49580577 F ALT INVEST - PRIVATE EQUITY 42537101 F 92117678 0 0 X 67320764 -9571386 -2248658 -11820044 79140808 -780345 -780345 78360463 59467614 780345 780345 58687269 2248658 2248658 60935927 SCHEDULE D, PART III, LINE 1A FOOTNOTE REGARDING ART COLLECTION THE MUSEUM'S COLLECTIONS ARE MADE UP OF ART OBJECTS AND ARTIFACTS OF HISTORICAL SIGNIFICANCE THAT ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC, AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASES FOR THE COLLECTION ARE RECORDED AS EXPENDITURES FOR THE ACQUISITION OF ART OBJECTS IN THE STATEMENTS OF ACTIVITIES IN THE YEAR IN WHICH THE OBJECTS ARE ACQUIRED. PROCEEDS FROM THE DEACCESSION OF ART OBJECTS ARE RECORDED AS TEMPORARILY RESTRICTED NET ASSETS AND ARE RESTRICTED TO THE ACQUISITION OF OTHER ART OBJECTS. IN KEEPING WITH STANDARD MUSEUM PRACTICE, THE COLLECTIONS, WHICH WERE ACQUIRED VIA PURCHASES AND CONTRIBUTIONS, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. SCHEDULE D, PART III, LINE 4 DESCRIPTION OF COLLECTIONS & EXEMPT PURPOSE THE CLEVELAND MUSEUM OF ART PROVIDES A COLLECTION OF WORKS OF ART THAT REPRESENTS THE HIGHEST AESTHETIC ACHIEVEMENT OF INDIVIDUALS AND CIVILIZATIONS, PAST AND PRESENT, FOR THE BENEFIT OF THE PUBLIC. THE MUSEUM HAS THREE EQUAL OBLIGATIONS: CARE, PRESENTATION, AND DEVELOPMENT. THE MUSEUM DEVELOPS AND REFINES THE EXISTING COLLECTION AND MAINTAINS HIGH ETHICAL STANDARDS IN ITS PURSUIT. IN ORDER TO PRESERVE THE COLLECTION FOR FUTURE GENERATIONS, PROPER CONSERVATION PRACTICES AND APPROPRIATE SECURITY ARE MAINTAINED. USING ITS COLLECTION AND OTHER RESOURCES, THE MUSEUM HAS A COMMITMENT TO SERVE A VARIETY OF AUDIENCES, ALWAYS SEEKING A DYNAMIC INTERACTION BETWEEN THE VISITORS AND THE WORKS OF ART. MUSEUM STAFF ENDEAVOR TO CREATE A RANGE OF PROGRAMS THAT ENLIGHTEN AND DELIGHT BOTH A BROAD AUDIENCE AND VISITORS WITH MORE SPECIFIC INTERESTS. INFORMATION ON THE COLLECTION AND THE CONTINUING RESEARCH THEREON BY THE PROFESSIONAL STAFF IS DISSEMINATED THROUGH EDUCATIONAL ACTIVITIES AND PUBLICATIONS. THE MUSEUM PRESENTS PROGRAMS IN RELATED AREAS SUCH AS MUSIC AND FILM SINCE THEY CAN CONTRIBUTE TO A BROADER UNDERSTANDING OF THE ARTS. SCHEDULE D, PART V, LINE 4 INTENDED USE OF ENDOWMENT FUNDS THE MUSEUM ENDOWMENT CONSISTS OF APPROXIMATELY 340 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR IMPOSED RESTRICTIONS. THE MUSEUM HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE MUSEUM MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIC PERIOD(S) AS WELL AS BOARD-DESIGNATED FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD OF TRUSTEES, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE A REAL RETURN, NET OF INFLATION AND INVESTMENT MANAGEMENT COSTS, OF AT LEAST 7% OVER THE LONG TERM. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. SCHEDULE D, PART X, LINE 2 FIN 48 FOOTNOTE FROM FINANCIAL STATEMENTS THE MUSEUM IS A NONPROFIT ORGANIZATION AND IS EXEMPT FROM FEDERAL INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THERE WERE NO AMOUNTS RECORDED FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2015 AND 2014. SCHEDULE D, PART XI, LINE 2D OTHER REVENUE AMOUNTS INCLUDED ON BOOKS BUT NOT ON RETEURN INVESTMENT MANAGEMENT FEES $(2,248,658) ------------ SCHEDULE D, PART XI, LINE 2D: $(2,248,658) SCHEDULE D, PART XI, LINE 4B OTHER REVENUE AMOUNTS INCLUDED ON RETURN BUT NOT ON BOOKS RECLASS - COGS: $(780,345) ---------- SCHEDULE D, PART XI, LINE 4B: $(780,345) SCHEDULE D, PART XII, LINE 2D OTHER EXPENSE AMOUNTS INCLUDED ON BOOKS BUT NOT ON RETURN RECLASS - COGS: $780,345 ---------- SCHEDULE D, PART XII, LINE 2D: $780,345 SCHEDULE D, PART XII, LINE 4B OTHER EXPENSE AMOUNTS INCLUDED ON THE RETURN BUT NOT ON BOOKS INVESTMENT MANAGEMENT FEES $2,248,658 ---------- SCHEDULE D, PART XII, LINE 4B: $2,248,658 Central America and the Caribbean INVESTMENTS 18909979 18909979 18909979 true false false false true false X X X X false false false false false false false false false AUGUST A NAPOLI JR DEP DIR VP & CHIEF ADVANCEMENT 392031 0 0 0 0 0 13772 0 24250 0 430053 0 0 0 JEFFREY W STREAN DIR DESIGN & ARCHITECTURE 130745 0 0 0 0 0 12453 0 24032 0 167230 0 0 0 MARJORIE L WILLIAMS SNR DIR ENDOWMENT DEV 130284 0 0 0 0 0 11989 0 8445 0 150718 0 0 0 EDWARD W BAUER TREASURER 145561 0 0 0 5084 0 14165 0 18765 0 183575 0 0 0 DEBORAH A GRIBBON INTERIM CHIEF CURATOR 282500 0 0 0 17500 0 0 0 0 0 300000 0 0 0 WILLIAM M GRISWOLD DIR, PRESIDENT (Begin 8/2014) 263077 0 0 0 0 0 462 0 2138 0 265677 0 0 0 A CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY 341029691 18610PAE8 2005-10-20 90000000 SEE PART VI false false false B CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY 341029691 18610PAR9 2010-07-01 75917326 SEE PART VI false false false A 0 0 91582917 0 0 0 861928 160600 0 90560389 0 0 2009 false false true true B 0 0 75917326 0 0 0 917326 0 0 75000000 0 0 2013 false false true true A false true false false 0 false false false false B false true true true false 0 false false false false A false false false true true false 0 false 0 false false B false true false false false false 0 false 0 false false A false B false DESCRIPTION OF PURPOSE FOR TAX-EXEMPT BONDS SCHEDULE K, PART I, COLUMN F, LINE A THE PROCEEDS FROM THE CULTURAL FACILITY REVENUE BONDS ISSUED BY THE CLEVELAND-CUYAHOGA PORT AUTHORITY WERE BEING USED TO FINANCE THE MUSEUM'S CONSTRUCTION, RENOVATION AND EXPANSION PROJECT. THE BONDS WERE ISSUED IN FOUR SERIES (I) THE SERIES A BONDS IN THE PRINCIPAL AMOUNT OF $30,000,000, (II) THE SERIES B BONDS IN THE PRINCIPAL AMOUNT OF $20,000,000, (III) THE SERIES C BONDS IN THE PRINCIPAL AMOUNT OF $20,000,000, AND (IV) THE SERIES D BONDS IN THE PRINCIPAL AMOUNT OF $20,000,000. ISSUER NAME: CLEVELAND-CUYAHOGA COUNTY PORT AUTHORITY ISSUER EIN: 34-1029691 CUSIP#1: 18610PAB4 DATE ISSUED: 10/20/2005 ISSUE PRICE: $30,000,000 DESCRIPTION: MUSEUM'S CONSTRUCTION, RENOVATION AND EXPANSION PROJECT DEFEASED: N ON BEHALF OF ISSUER: N CUSIP#2: 18610PAC2 DATE ISSUED: 10/20/2005 ISSUE PRICE: $20,000,000 DESCRIPTION: MUSEUM'S CONSTRUCTION, RENOVATION AND EXPANSION PROJECT DEFEASED: N ON BEHALF OF ISSUER: N CUSIP#3: 18610PAD0 DATE ISSUED: 10/20/2005 ISSUE PRICE: $20,000,000 DESCRIPTION: MUSEUM'S CONSTRUCTION, RENOVATION AND EXPANSION PROJECT DEFEASED: N ON BEHALF OF ISSUER: N CUSIP#4: 18610PAE8 DATE ISSUED: 10/20/2005 ISSUE PRICE: $20,000,000 DESCRIPTION: MUSEUM'S CONSTRUCTION, RENOVATION AND EXPANSION PROJECT DEFEASED: N ON BEHALF OF ISSUER: N DESCRIPTION OF PURPOSE FOR TAX-EXEMPT BONDS SCHEDULE K, PART I, COLUMN F, LINE B THE PROCEEDS FROM THE CULTURAL FACILITY REVENUE BONDS ISSUED BY THE CLEVELAND-CUYAHOGA PORT AUTHORITY IN 2010 ARE BEING USED TO FINANCE THE MUSEUM'S ONGOING CONSTRUCTION PROJECT. THE 2010 BONDS WERE ISSUED AT A PREMIUM WITH VARYING MATURITY DATES RANGING FROM OCTOBER 2018 TO 2022 AND WITH COUPON RATES RANGING FROM 3.00% TO 5.00%. THE PROCEEDS THE MUSEUM REALIZED ON THE BONDS TOTALED $75,917,326. CUSIP#4: 18610PAR9 DATE ISSUED: 07/01/2010 ISSUE PRICE: $75,917,326 DESCRIPTION: MUSEUM'S CONSTRUCTION, RENOVATION AND EXPANSION PROJECT DEFEASED: N ON BEHALF OF ISSUER: N POOLED FINANCING: N POOLED FINANCING: N TOTAL PROCEEDS OF ISSUE SCHEDULE K, PART II, LINE 3, COLUMN B THE BONDS WERE SOLD TO THE ORIGINAL PURCHASER UNDER THE TERMS OF THE BOND PURCHASE AGREEMENT AT AN AGGREGATE PURCHASE PRICE EQUAL TO $75,477,248 DETERMINED AS FOLLOWS: THE PRINCIPAL AMOUNT OF THE BONDS ($70,430,000), PLUS NET ORIGINAL ISSUE PREMIUM ($5,487,326.20) AND LESS UNDERWRITER'S DISCOUNT ($440,078). DATE THE REBATE COMPUTATION WAS PERFORMED SCHEDULE K, PART IV, LINE 2C, COLUMN A 12/16/2010 PROCEDURES TO MONITOR REQUIREMENTS OF SECTION 148 SCHEDULE K, PART IV, LINE 7 WE DO NOT HAVE WRITTEN PROCEDURES TO MONITOR THE REQUIREMENTS OF SECTION 148 BUT ARE IN THE PROCESS OF IMPLEMENTING THEM. HOWEVER, WE BELIEVE THAT WE ARE IN FULL COMPLIANCE WITH ALL APPLICABLE REQUIREMENTS RELATED TO OUR TAX-EXEMPT BONDS. PROCEDURES TO UNDERTAKE CORRECTIVE ACTION SCHEDULE K, PART V WE DO NOT HAVE WRITTEN PROCEDURES TO UNDERTAKE CORRECTIVE ACTION AT THIS TIME BUT ARE IN THE PROCESS OF IMPLEMENTING THEM. ALSO, WE DO NOT BELIEVE WE ARE IN VIOLATION OF ANY FEDERAL TAX REQUIREMENTS. KEY BANK NA SEE SCHEDULE O INVESTMENT & DEPOSITORY FEES X 527 0 SEE SCH M, PART II X 110 2234146 FMV - DATE OF GIFT false true false SCHEDULE M, PART I, LINE 33 CONTRIBUTIONS OF ARTWORK VARIOUS ART OBJECTS NOT RECORDED ON BOOKS. FORM 990, PART III, LINE 4D DESCRIPTION OF OTHER PROGRAM SERVICES THE CLEVELAND MUSEUM OF ART PROVIDES A COLLECTION OF WORKS OF ART THAT REPRESENTS THE HIGHEST AESTHETIC ACHIEVEMENT OF INDIVIDUALS AND CIVILIZATIONS, PAST AND PRESENT, FOR THE BENEFIT OF THE PUBLIC. THE MUSEUM HAS THREE EQUAL OBLIGATIONS: CARE, PRESENTATION, AND DEVELOPMENT. THE MUSEUM DEVELOPS AND REFINES THE EXISTING COLLECTION AND MAINTAINS HIGH ETHICAL STANDARDS IN ITS PURSUIT. IN ORDER TO PRESERVE THE COLLECTION FOR FUTURE GENERATIONS, PROPER CONSERVATION PRACTICES AND APPROPRIATE SECURITY ARE MAINTAINED. USING ITS COLLECTION AND OTHER RESOURCES, THE MUSEUM HAS A COMMITMENT TO SERVE A VARIETY OF AUDIENCES, ALWAYS SEEKING A DYNAMIC INTERACTION BETWEEN THE VISITORS AND THE WORKS OF ART. MUSEUM STAFF ENDEAVOR TO CREATE A RANGE OF PROGRAMS THAT ENLIGHTEN AND DELIGHT BOTH A BROAD AUDIENCE AND VISITORS WITH MORE SPECIFIC INTERESTS. INFORMATION ON THE COLLECTION AND THE CONTINUING RESEARCH THEREON BY THE PROFESSIONAL STAFF IS DISSEMINATED THROUGH EDUCATIONAL ACTIVITIES AND PUBLICATIONS. THE MUSEUM PRESENTS PROGRAMS IN RELATED AREAS SUCH AS MUSIC AND FILM SINCE THEY CAN CONTRIBUTE TO A BROADER UNDERSTANDING OF THE ARTS. FORM 990, PART VI, LINE 2 DESCRIPTION OF RELATIONSHIPS STEVEN R. KESTNER, STEPHEN E. MYERS, LAUREN RICH FINE, ROBERT W. GILLESPIE, JAMES A. RATNER, RICHARD H. FEARON AND ALFRED M. RANKIN JR. SIT ON THE BOARD OF JOHN HUNTINGTON TRUST. FORM 990, PART VI, LINE 11B DESCRIBE PROCESS USED BY MANAGEMENT &/OR GOVERNING BODY TO REVIEW 990 IN CONJUNCTION WITH EXTERNAL TAX ADVISORS, THE MUSEUM'S TREASURER AND FINANCE OFFICE PARTICIPATE IN DETAILED REVIEWS OF FORM 990 IN ITS ENTIRETY. A COMPLETE DRAFT COPY OF FORM 990, INCLUDING REQUIRED SCHEDULES IS PROVIDED TO EACH MEMBER OF THE AUDIT COMMITTEE OF THE MUSEUM BOARD OF TRUSTEES FOR REVIEW PRIOR TO ELECTRONICALLY FILING THE RETURN WITH THE IRS. FORM 990, PART VI, LINE 12C DESCRIPTION OF PROCESS TO MONITOR TRANSACTIONS FOR CONFLICTS OF INTEREST IN ORDER TO ASSIST THE MUSEUM IN IDENTIFYING DUALITIES OF INTEREST AND THEN FOLLOWING APPROPRIATE PROCEDURES, TRUSTEES SHOULD MAKE ANNUAL DISCLOSURES TO THE MUSEUM. VIA THE DIRECTOR'S OFFICE, TRUSTEES ARE ASKED TO SIGN DISCLOSURE STATEMENTS AND CONFIRM RECEIPT AND SUBSTANTIAL COMPLIANCE OF THE ETHICAL GUIDELINES OF THE MUSEUM. THE ETHICAL GUIDELINES ASSIST TRUSTEES IN IDENTIFYING, FROM TIME TO TIME, POTENTIAL DUALITIES OF INTEREST THAT NEED TO BE DISCLOSED TO THE MUSEUM. FORM 990, PART VI, LINE 15A OFFICERS & POSITIONS FOR WHICH PROCESS WAS USED, & YEAR PROCESS WAS BEGUN THE COMPENSATION COMMITTEE OF THE MUSEUM BOARD OF TRUSTEES ANNUALLY DETERMINES THE COMPENSATION OF THE CEO AND MUSEUM DIRECTOR POSITION. THE MUSEUM'S BOARD OF TRUSTEES APPROVES THE MUSEUM'S CEO AND DIRECTOR COMPENSATION. FORM 990, PART VI, LINE 15B OFFICES & POSITIONS FOR WHICH PROCESS WAS USED, & YEAR PROCESS WAS BEGUN COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES IS DETERMINED BY AN ANNUAL PERFORMANCE REVIEW AS PREPARED BY THE IMMEDIATE SUPERVISOR. EACH ASSESSMENT IS REVIEWED BY HUMAN RESOURCES, DIVISION CHIEF, THE CEO AND MUSEUM DIRECTOR. THE SALARY RANGES FOR THE INDIVIDUALS ARE CONFIGURED IN RELATION TO COMPARABLE INDUSTRY AND REGIONAL SUPPORT DATA. FORM 990, PART VI, LINE 19 AVAIL OF GOV DOCS, COI POLICY, & FINANCIAL STMTS TO GEN PUBLIC ANNUAL AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE MUSEUM'S WEBSITE. THE MUSEUM'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9 CHANGES IN NET ASSETS CHANGE IN FV OF CHARITABLE PERPETUAL TRUSTS $(7,846,523) CHANGE IN FUNDED STATUS PENSION AND POSTRETIREMENT MEDICAL (2,897,525) CHANGE IN FV OF DERIVATIVE INSTRUMENTS 400,445 ------------- PART XI, LINE 9 $(10,343,603) JOHN HUNTINGTON ART & POLYTECHNIC TRUST 1900 EAST 9TH STREET STE 3200 CLEVELAND OH 44114 346526984 SUPP ORG OH 501(C)(3) 11 TYPE II NA false CLEVEHUNT LLC 11150 EAST BOULEVARD CLEVELAND OH 44106 300692741 INVESTMENT OH NA EXCLUDED 12219839 446899286 false 8709 true 0.76795 false false false false false false false false false false false false false false false false true false false CLEVEHUNT LLC Q 205568 ACTUAL EXPENSE