2015-05-15T10:38:36-05:00 2014-06-30 420714325 MCGLADREY LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2013-07-01 526000162 BALTIMORE MUSEUM OF ART BALT 4435731839 10 ART MUSEUM DRIVE BALTIMORE MD 21218 DOREEN BOLGER DIRECTOR 4435731711 2015-05-12 1 JULIA FLANNERY CPA P00928918 4102469300 2013 2016-03-07 17:11:31Z DOREEN BOLGER 10 ART MUSEUM DRIVE BALTIMORE MD 21218 28923624 0 X WWW.ARTBMA.ORG X 1914 MD THE BALTIMORE MUSEUM OF ART SEEKS INNOVATION AND EXCELLENCE IN AN ARTISTIC PROGRAM (SEE SCH. O) THAT FOCUSES ON ART OF THE MODERN ERA, FROM THE 19TH CENTURY TO THE PRESENT. 34 34 242 108 44549 -1393 16777799 14382586 623054 1703604 3556667 8219520 273895 342934 21231415 24648644 0 0 0 0 8217448 7553439 72000 72000 1276784 10069054 9306202 18358502 16931641 2872913 7717003 101922740 122939609 14148065 19113634 87774675 103825975 X THE BALTIMORE MUSEUM OF ART SEEKS INNOVATION AND EXCELLENCE IN AN ARTISTIC PROGRAM THAT FOCUSES ON ART OF THE MODERN ERA, FROM THE 19TH CENTURY TO THE PRESENT. THE MUSEUM IS COMMITTED TO CREATING AN ENVIRONMENT THAT INSPIRES CREATIVITY, ENCOURAGES LEARNING, AND FOSTERS HUMAN UNDERSTANDING IN A PLACE WHERE EVERYONE FEELS WELCOME. 0 0 7801110 OPERATIONSOPENED IN 1929 AS A SINGLE BUILDING ADJACENT TO THE CAMPUS OF THE JOHNS HOPKINS UNIVERSITY, THE BMA NOW COMPRISES 10 CONTIGUOUS BUILDINGS AND WINGS (210,000 SQ. FT.), ONE HISTORIC STRUCTURE, AND TWO OUTDOOR SCULPTURE GARDENS (3 ACRES), AS WELL AS FOUR PARKING LOTS. THE MUSEUM HAS REPLACED ALL OF ITS TEN ROOFING SYSTEMS IN THE LAST 17 YEARS TO PREVENT DAMAGE TO THE COLLECTION FROM WATER INFILTRATION AND REDUCE ENERGY CONSUMPTION BY INCREASING THE INSULATION VALUE OF THE BUILDING ENVELOPE. LIKEWISE, MECHANICAL AND ELECTRICAL SYSTEMS HAVE BEEN REGULARLY UPGRADED TO ACHIEVE AND MAINTAIN A HIGH LEVEL OF COLLECTIONS CARE WHILE ALSO ACHIEVING ECONOMIES IN ENERGY MANAGEMENT AND PROCUREMENT. PREVENTATIVE MAINTENANCE OF THESE SYSTEMS WAS CARRIED OUT REGULARLY BY TWO ENGINEERS AND AN ELECTRICIAN. SECURITY WAS ASSURED THROUGH DILIGENT SUPERVISION OF 38 SECURITY GUARDS BY EXPERIENCED AND HIGHLY TRAINED SECURITY MANAGERS; UP-TO-DATE SECURITY POLICIES AND PROCEDURES; EFFECTIVE INTEGRATION OF THE CONTROL AND MAINTENANCE OF ELECTRONIC SYSTEMS; AND CROSS-DEPARTMENTAL RESPONSES TO INCIDENTS INVOLVING VISITORS AND/OR ART WORKS. THE FACILITY WAS STAFFED ON A 24-HOUR BASIS, AND AN EMERGENCY CONTACT LIST WAS MAINTAINED. THE BMA HAS A FULLY OPERATIONAL AND ADEQUATE FIRE DETECTION SYSTEM. THE BMA'S EMERGENCY PLAN IDENTIFIES APPROPRIATE RESPONSES TO PROBLEMS AND ASSIGNS AREAS OF RESPONSIBILITY TO SPECIFIC STAFF MEMBERS. FIRE AND EVACUATION PROCEDURES ARE CLEARLY OUTLINED AND REVIEWED WITH ALL STAFF. THE BMA IS EQUIPPED WITH AN EMERGENCY GENERATOR CAPABLE OF OPERATING CONTINUOUSLY FOR FIVE DAYS; EMERGENCY SUPPLIES ARE CENTRALLY LOCATED.DURING FY14, THE MUSEUM CONTINUED TO EXPERIENCE CHALLENGES POSED BY THE REDUCTION-IN-FORCE IMPLEMENTED ON APRIL 8, 2013 TO MITIGATE AN ANTICIPATED BUDGET SHORTFALL FOR THIS FISCAL YEAR AND BEYOND. NINETEEN POSITIONS WERE ELIMINATED AND FIVE STRATEGIC POSITIONS WERE ADDED TO HELP THE MUSEUM FURTHER ITS MISSION AND SUSTAINABILITY. SOME ADVANCES WERE MADE IN STAFF SUPPORT THROUGH IMPROVEMENTS IN TECHNOLOGY, WITH THE BMA'S IT STAFF SUPPLEMENTED BY OUTSIDE CONTRACTORS WHILE THE MUSEUM UNDERTOOK FUNDRAISING AND A SEARCH PROCESS TO FORM A NEW DIGITAL DIVISION AND INCREASE STAFFING IN THIS AREA. A DEPUTY DIRECTOR FOR DIGITAL EXPERIENCE, WAS ADDED IN MARCH 2014, AND IN JUNE 2014, WHEN THE DEPUTY DIRECTOR FOR MARKETING & COMMUNICATIONS RESIGNED, THE TWO DIVISIONS WERE COMBINED AS DIGITAL EXPERIENCE & COMMUNICATIONS. THERE WAS ADDITIONAL TURNOVER, WITH THE DEPUTY DIRECTOR FOR OPERATIONS & CAPITAL PLANNING RESIGNING IN JULY 2013 AND HIS DUTIES BEING ASSUMED BY THE DEPUTY DIRECTOR FOR FINANCE AND ADMINISTRATION. 3897079 1652192 COLLECTION CARE & EXHIBITIONSCARE OF THE BMA'S OUTSTANDING COLLECTION OF 95,000 WORKS OF ART INVOLVES THE DEDICATED PROFESSIONAL CARE BY A TEAM OF CURATORS, CONSERVATORS, AND REGISTRARS, WHO CAREFULLY MONITOR ITS STORAGE, PRESERVATION, AND DOCUMENTATION. THE BMA COLLECTIONS AND FACILITY TEAM MAINTAINS AND MONITORS SAFE ENVIRONMENTAL RANGES, CURRENTLY 50% +/- 5% RELATIVE HUMIDITY AND 70 +/- 2 INDOOR TEMPERATURE, WHICH ARE DEEMED NECESSARY FOR ART PRESERVATION. BMA-ORGANIZED EXHIBITIONS, WHETHER IN BALTIMORE OR TRAVELLING NATIONALLY, ARE INSPIRED BY THE COLLECTION. IN FY 2014, EXHIBITIONS AND EDUCATIONAL PROGRAMS WERE LIMITED BY THE CLOSURE OF 60% OF THE INSTITUTION'S SPACES, INCLUDING THE AUDITORIUM AND THE PRINCIPAL TEMPORARY EXHIBITION GALLERIES, DUE TO A COMPREHENSIVE, MULTI-YEAR FACILITY RENOVATION COMPLETED IN 2015. BMA CURATORIAL AND EDUCATION, CONSERVATION, REGISTRATION, AND EXHIBITION DESIGN STAFF WERE ALSO ACTIVELY ENGAGED IN PLANNING AND PREPARING FOR MAJOR REINSTALLATIONS OF THE AMERICAN, AFRICAN, AND ASIAN COLLECTIONS TO BE COMPLETED IN FY15.THE MUSEUM MAINTAINED ITS ARTISTIC PROGRAM WITH A VARIETY OF SMALLER EXHIBITIONS IN FOCUS GALLERIES THROUGHOUT THE BUILDING. EXHIBITIONS ORGANIZED AND PRESENTED IN CHANGING SPACES IN THE CONTEMPORARY WING INCLUDED: "FRONT ROOM: NATHANIEL MELLORS & JIMMY JOE ROCHE" (JULY 3-SEPTEMBER 29, 2013); "FRONT ROOM: AN-MY LE" (OCTOBER 9, 2013-FEBRUARY 23, 2014); AND "FRONT ROOM: STERLING RUBY" (MARCH 16-JUNE 15, 2014); "BLACK BOX: GERARD BYRNE" (OCTOBER 16, 2013-FEBRUARY 16, 2014); "BLACK BOX: CAMILLE HENROT" (MARCH 5-JUNE 15, 2014); AND "ON PAPER: FIGURE DRAWINGS FROM THE THOMAS E. BENESCH MEMORIAL COLLECTION" (APRIL 20-SEPTEMBER 14, 2014). "MORRIS LOUIS: UNVEILED" (SEPTEMBER 9, 2013-FEBRUARY 16, 2014) PRESENTED MORE THAN 25 PAINTINGS AND DRAWINGS BY THIS GROUND BREAKING ARTIST, INCLUDING THAT COMPRISE A RECENT GIFT TO THE BMA FROM THE ARTIST'S WIDOW'S ESTATE. BAKER ARTIST AWARDS 2013 (FEBRUARY 26-APRIL 6, 2014) FEATURED THE WORK OF SCULPTOR JONATHAN LATIANO, PHOTOGRAPHER LYNNE PARKS, AND CELLIST DARIUSZ SKORACZEWSKI, ALL WINNERS OF THE $25,000 MARY SAWYERS BAKER PRIZE, CONTINUING A FIVE-YEAR PARTNERSHIP WITH THE WILLIAM G. BAKER, JR. MEMORIAL FUND TO FEATURE LEADING ARTISTS IN THE COMMUNITY. IN THE CONE WING, "MATISSE'S MARGUERITE: MODEL DAUGHTER" (SEPTEMBER 18, 2013-JANUARY 19, 2014) EXHIBITED MORE THAN 50 PRINTS, DRAWINGS, SCULPTURES, AND PAINTINGS OF MATISSE'S DAUGHTER MARGUERITE, OFFERING A RARE LOOK AT THE ARTIST'S PERSONAL LIFE AND WORK. NEXT, "GERMAN EXPRESSIONISM: A REVOLUTIONARY SPIRIT" (JANUARY 29-SEPTEMBER 15, 2014) HIGHLIGHTED MORE THAN 35 VIVID PAINTINGS, DRAWINGS, PRINTS, WATERCOLORS, AND SCULPTURE, MOST FROM THE BMA COLLECTION, PRESENTING AN OVERVIEW OF THE REVOLUTIONARY ART MOVEMENT THAT FLOURISHED IN GERMANY DURING THE FIRST THREE DECADES OF THE 20TH CENTURY. IN THE NORTHWEST CONE GALLERIES, "THE RENOIR RETURNS" (MARCH 30, 2014-JULY 20, 2014) CELEBRATED THE HOMECOMING OF A CHARMING IMPRESSIONIST LANDSCAPE STOLEN FROM THE BEQUEST OF BMA DONOR SAIDIE A. MAY IN 1951. AS AN IMPORTANT COMPONENT OF COMMUNITY OUTREACH, STUDENT ART FROM BALTIMORE CITY PUBLIC SCHOOLS (MAY 7-11, 2014) AND BALTIMORE COUNTY PUBLIC SCHOOLS (APRIL 30-MAY 4, 2014) WAS DISPLAYED IN THE MAY WING TO THE DELIGHT OF STUDENTS AND FAMILIES, AS WELL AS THE 4,927 VISITORS. ADDITIONALLY, THE BMA CIRCULATED AN IMPORTANT GROUP OF ITS HENRI MATISSE WORKS IN AN EXHIBITION THAT TRAVELED TO THE INDIANAPOLIS MUSEUM OF ART (OCTOBER 11, 2013-JANUARY 12, 2014) AND TO THE MINNEAPOLIS INSTITUTE OF ART (FEBRUARY 23-MAY 18, 2014). 2464456 51412 EDUCATION & INTERPRETATIONEDUCATIONAL PROGRAMS WERE ACCESSIBLE TO VISITORS OF ALL BACKGROUNDS, PARTICULARLY WITH THE BMA'S FREE GENERAL ADMISSION POLICY LAUNCHED IN 2006. BMA EDUCATORS USED A WIDE RANGE OF INTERPRETIVE STRATEGIES TO INTERPRET THE COLLECTION FOR A BROAD PUBLIC AUDIENCE, WHICH DESPITE THE LIMITATIONS IMPOSED BY THE AMBITIOUS RENOVATION, NUMBERED 180,522 IN FY2014. 6,882 SCHOOLCHILDREN TOOK FREE SCHOOL TOURS WITH VOLUNTEER DOCENTS TRAINED AT WEEKLY SESSIONS WITH CURATORS, EDUCATORS, CONSERVATORS, SCHOLARS, AND WORKING ARTISTS. TEACHER WORKSHOPS, THE BMA'S TEACHER RESOURCE CENTER, AND ELECTRONICALLY DISTRIBUTED ART-TO-GO PROVIDED EDUCATORS WITH MATERIALS AND TRAINING THEY NEED TO INTEGRATE BMA ARTWORKS INTO CLASSROOM ACTIVITIES, LINKING CLOSELY TO THE CURRICULUM. THE BMA ENGAGED THE WHOLE FAMILY IN LEARNING THROUGH FREE, DROP-IN ACTIVITIES, WHICH WERE EXPANDED IN RESPONSE TO THE INTERESTS OF NEW AUDIENCES ATTRACTED BY FREE ADMISSION. INTERPRETIVE FAMILY TOURS AND ART-MAKING WORKSHOPS WERE OFFERED ON SUNDAY AFTERNOONS. A WIDE RANGE OF PUBLIC PROGRAMS-LECTURES, PANEL DISCUSSIONS, GALLERY TALKS, SEMINARS, AND CLASSES-ENGAGED ADULT AUDIENCES WITH WORKS OF ART IN THE COLLECTION AND THE ISSUES AND IDEAS THAT SURROUND THEM. THE BMA SERVED AS A RESOURCE FOR COLLEGE AND UNIVERSITY TEACHING AT INSTITUTIONS IN THE BALTIMORE-WASHINGTON METROPOLITAN AREA, WHERE THERE ARE 200,000 COLLEGE AND UNIVERSITY STUDENTS. MARKETING AND COMMUNICATIONS STAFF PROMOTED THESE BMA EXHIBITIONS, PUBLICATIONS, AND EDUCATIONAL PROGRAMS TO A WIDE AUDIENCE THROUGH THE BMA WEBSITE WWW.ARTBMA.ORG AS WELL AS PRINT AND ELECTRONIC MEDIA.PLANNING CONTINUED FOR A CENTER FOR LEARNING, CREATIVITY, AND COMMUNITY, A 5,594-SQ.-FT. SPACE THAT WILL OPEN IN 2015. THIS AREA WILL BE DEDICATED TO VISITOR ENGAGEMENT AND LEARNING-THE STUDY OF ART WORKS, PARTICIPATION IN INTERACTIVE EXPERIENCES WITH TECHNOLOGY AND HANDS-ON ACTIVITIES, ART-MAKING, AND OTHER EDUCATIONAL PROGRAMS. 14162645 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 23 0 1 242 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MD X X CHRISTINE DIETZE BONANNO 4435731838 10 ART MUSEUM DRIVE BALTIMORE MD 21218 FREDERICK S KOONTZ CHAIR 1.00 X X 0 0 0 STILES TUTTLE COLWILL IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 JAMES D THORNTON VICE CHAIR/TREASURER 1.00 X X 0 0 0 ALEXANDER C BAER VICE-PRESIDENT 1.00 X X 0 0 0 BEVERLY BENTLEY CARROLL VICE-PRESIDENT 1.00 X X 0 0 0 WILLIAM BACKSTROM TRUSTEE 1.00 X 0 0 0 DIANE CHO TRUSTEE 1.00 X 0 0 0 LEROY COMEGYS TRUSTEE 1.00 X 0 0 0 R THOMAS CRAWFORD TRUSTEE 1.00 X 0 0 0 GWEN DAVIDSON TRUSTEE 1.00 X 0 0 0 LYNN DEERING TRUSTEE 1.00 X 0 0 0 NANCY L DORMAN TRUSTEE 1.00 X 0 0 0 LAURENCE J EISENSTEIN TRUSTEE 1.00 X 0 0 0 AMY ELIAS TRUSTEE 1.00 X 0 0 0 SANDRA LEVI GERSTUNG TRUSTEE 1.00 X 0 0 0 AMY L GOULD TRUSTEE 1.00 X 0 0 0 PATRICIA H JOSEPH TRUSTEE 1.00 X 0 0 0 SUSAN B KATZENBERG TRUSTEE 1.00 X 0 0 0 MADELINE E LACOVARA TRUSTEE 1.00 X 0 0 0 KEITH A LEE TRUSTEE 1.00 X 0 0 0 RICHARD F LINDSTROM TRUSTEE 1.00 X 0 0 0 CAROL MACHT TRUSTEE 1.00 X 0 0 0 JENNIFER O'HARA MARTIN TRUSTEE 1.00 X 0 0 0 ROBERT J MATHIAS TRUSTEE 1.00 X 0 0 0 AMY FRENKIL MEADOWS TRUSTEE 1.00 X 0 0 0 MICHAEL MERSON TRUSTEE 1.00 X 0 0 0 CHARLES W NEWHALL III TRUSTEE 1.00 X 0 0 0 DONALD J PETERS TRUSTEE 1.00 X 0 0 0 MICHAEL ROSENBAUM TRUSTEE 1.00 X 0 0 0 FREDERICA K SAXON TRUSTEE 1.00 X 0 0 0 CLAIR ZAMOISKI SEGAL TRUSTEE 1.00 X 0 0 0 JEAN SILBER TRUSTEE 1.00 X 0 0 0 HENRY L THAGGERT TRUSTEE 1.00 X 0 0 0 DAVID WARNOCK TRUSTEE 1.00 X 0 0 0 DOREEN BOLGER STAFF EXECUTIVE DIRECTOR/SECRETARY 40.00 X 273894 0 71480 CHRISTINE DIETZE BONANNO STAFF CHIEF FINANCIAL OFFICER 40.00 X 128601 0 26300 JUDITH GIBBS STAFF DEPUTY DIR. OF DEVELOPMENT 40.00 X 147314 0 19427 BECCA SEITZ STAFF DEPUTY DIR. OF M & C 40.00 X 112543 0 29396 JAY FISHER STAFF DEPUTY DIR. OF CURATORIAL 40.00 X 106844 0 17499 ANNE MANNING STAFF DEPUTY DIR. OF EDUCATION 40.00 X 105424 0 23449 874620 0 187551 6 0 1 0 WHITING TURNER CONTRACTING COMPANY 300 E JOPPA ROAD BALTIMORE MD 21286 CONSTRUCTION 1575718 ZIGER SNEAD LLP ARCHITECTS 1006 MORTON STREET BALTIMORE MD 21201 ARCHITECT 574890 LEWIS CONTRACTORS 55 GWYNNS MILL COURT OWINGS MILLS MD 21117 CONSTRUCTION 397338 SYNTHESIS 9175 GUILFORD ROAD COLUMBIA MD 21046 OWNER'S REP. 194013 INTERTECH SECURITY LLC 1501 PREPLE AVENUE PITTSBURG PA 15233 SECURITY SYSTEM 121692 7 X 442845 7426897 6512844 1044133 14382586 TRAVELING EXHIBITS 900099 1573852 1573852 PROGRAM REVENUE 900099 78340 78340 EDUCATION & GROUP TOUR 900099 51412 51412 1703604 2007935 2991 2004944 112613 0 112613 112613 112613 9943685 3732100 6211585 6211585 6211585 562466 542880 19586 41558 -21972 PARKING REVENUE 900099 120011 120011 DEACCESSIONS 900099 90724 90724 210735 24648644 1703604 44549 8517905 421601 92568 236465 92568 5307801 4381078 226887 699836 1415758 1160379 170137 85242 408279 326689 42202 39388 89225 64875 24350 97566 74502 23064 55100 55100 18000 18000 72000 72000 271291 271291 182382 120842 61540 346223 229333 47272 69618 94972 94972 5068064 5068064 25181 15499 7310 2372 47712 42162 4150 1400 102397 79620 22777 526466 429571 49290 47605 188261 188261 ACCESSIONS 856600 856600 EXHIBITION AND COLLECTI 748838 748838 MISCELLANEOUS 436794 305543 73163 58088 EDUCATIONAL & ARTISTIC 151130 151130 16931641 14162645 1492212 1276784 1003803 750622 1507299 980167 5812291 4592525 355126 460148 256320 298678 17816879 2535824 8691248 15281055 34044045 37989215 48992466 60668553 1260142 1918646 101922740 122939609 1158508 4539271 628570 748023 6326301 6326301 4950000 6335000 1084686 1165039 14148065 19113634 X 27492490 30611364 27209175 37618594 33073010 35596017 87774675 103825975 101922740 122939609 X 7717003 8321384 12913 X 0 1 X 1 0 X 9337867 9162568 10106295 16777799 14382586 59767115 9337867 9162568 10106295 16777799 14382586 59767115 6019188 53747927 1752679 1869373 1821839 1980260 2120548 9544699 167763 183450 307139 145397 210735 1014484 70326298 8273487 0.76430 0.78290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 91 0 1 19481 19572 0 PART II-B, LINE 1: IN FY14, MUSEUM STAFF, VOLUNTEERS, AND A PAID LOBBYIST COMMUNICATED WITH STATE ELECTED OFFICIALS AND STATE EMPLOYEES TO REQUEST BOND FUNDING FOR A CAPITAL PROJECT TO SUPPORT THE ANNUAL ALLOCATION TO THE MARYLAND STATE ARTS COUNCIL (MSAC). MSAC IS A STATE AGENCY THAT MAKES GRANTS TO CULTURAL NONPROFITS ORGANIZATIONS IN MARYLAND, INCLUDING THE BMA. THIS COMMUNICATION INCLUDED WRITING LETTERS AND EMAILS TO SPECIFIC OFFICIALS AND EMPLOYEES, TELEPHONE CALLS AND MEETINGS WITH SPECIFIC OFFICIALS AND EMPLOYEES, AND TRAVELING TO ANNAPOLIS TO PARTICIPATE IN MARYLAND ARTS DAY, AN ANNUAL RALLY IN SUPPORT OF ARTS FUNDING ORGANIZED BY MARYLAND CITIZENS FOR THE ARTS, A NONPROFIT ORGANIZATION. X X X X 0 79120965 2944929 15425427 3808832 93682489 66172610 6199022 10213356 3464023 79120965 66447969 1780257 595338 2650954 66172610 55430515 2802971 13027060 4812577 66447969 50164119 1614896 7141615 3490115 55430515 0.30080 0.36860 0.33060 0 0 472266 472266 14047109 1406734 12640375 1993251 316056 1677195 1247620 813034 434586 56633 56633 15281055 HEDGE FUNDS OF FUNDS 534777 F ISHARES MSCI ACWX EX US (ACWX) 9248124 F ISHARES RUSSELL 1000 GROWTH (IWF) 7680130 F METROPOLITAN WEST FDS TOTAL RETURN BD FD CL I (MWTIX) 7238486 F PRIVATE EQUITY FUNDS 5155338 F SPDR S&P 500 ETF TRUST (SPY) 15623740 F SPDR S&P DIVIDEND (SDY) 7384501 F TWEEDY BROWNE FUND INC. GLOBAL VALUE FUND (TBGVX) 7803457 F 60668553 PAYABLES UNDER SPLIT INTEREST AGREEMENT 1019453 INTEREST RATE SWAP 145586 1165039 X 33241617 8321384 8321384 24920233 271291 -542880 -271589 24648644 17190317 529967 529967 16660350 271291 271291 16931641 PART III, LINE 1A: THE MUSEUM'S PERMANENT COLLECTION CONSISTS OF OVER 95,000 OBJECTS. THE VALUE OF THE MUSEUM'S COLLECTION OF ART OBJECTS IS NOT CAPITALIZED AND HAS BEEN EXCLUDED FROM THE STATEMENTS OF FINANCIAL POSITION. CONTRIBUTED COLLECTION ITEMS ARE NOT RECOGNIZED AS CONTRIBUTION REVENUE. PURCHASES OF ART OBJECTS BY THE MUSEUM (ACCESSIONS) ARE FUNDED WITH TEMPORARILY RESTRICTED NET ASSETS AND ARE RECORDED AS NONOPERATING DECREASES IN NET ASSETS IN THE STATEMENTS OF ACTIVITIES. SALES OF ART OBJECTS BY THE MUSEUM (DEACCESSIONS) ARE RECORDED AS NONOPERATING INCREASES IN NET ASSETS IN THE STATEMENTS OF ACTIVITIES. PART III, LINE 4: THE BALTIMORE MUSEUM OF ART SEEKS INNOVATION AND EXCELLENCE IN AN ARTISTIC PROGRAM THAT FOCUSES ON THE 19TH CENTURY TO THE PRESENT. THE COLLECTION CONSISTS OF 95,000 WORKS OF ART. THE MUSEUM IS COMMITTED TO CREATING AN ENVIRONMENT THAT INSPIRES CREATIVITY, ENCOURAGES LEARNING, AND FOSTERS HUMAN UNDERSTANDING IN A PLACE WHERE EVERYONE FEELS WELCOME. PART X, LINE 2: THE MUSEUM ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS POLICY, THE MUSEUM MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WOULD BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS EVALUATED THE MUSEUM'S TAX POSITIONS AND HAS CONCLUDED THAT THE MUSEUM HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF THIS GUIDANCE. THE MUSEUM IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE JUNE 30, 2011. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF COST OF GOODS SOLD -542,880. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF COST OF GOODS SOLD 542,880. GAIN ON INTEREST RATE SWAP -12,913. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 1600434 0 0 0 0 0 0 1600434 0 1600434 0 0 1 0 0 0 X X X X X X 1 TER MOLEN WATKINS & BRANDT 2 NORTH RIVERSIDE PLAZA CHICAGO IL 60606 CAMPAIGN FUNDRAISING 0 0 72000 -72000 72000 -72000 MD X X X X 0 1 0 0 0 0 0 0 0 DOREEN BOLGER STAFF EXECUTIVE DIRECTOR/SECRETARY 270074 0 0 0 3820 0 62450 0 9030 0 345374 0 0 0 CHRISTINE DIETZE BONANNO STAFF CHIEF FINANCIAL OFFICER 128601 0 0 0 0 0 7905 0 18395 0 154901 0 0 0 JUDITH GIBBS STAFF DEPUTY DIR. OF DEVELOPMENT 147314 0 0 0 0 0 9440 0 9987 0 166741 0 0 0 FORM 990, SCHEDULE J, PART II, COLUMN C THE ORGANIZATION HAS ESTABLISHED A SECTION 457(F) PLAN FOR ITS HIGHEST COMPENSATED EMPLOYEE PARTICIPATION. THE MUSEUM MAINTAINS A SEPARATE ACCOUNT IN THE NAME OF THE PARTICIPANT WHO IS ENTITLED TO THE COMPENSATION. EMPLOYER CONTRIBUTIONS MAY BE MADE TO THE PLAN EACH YEAR IN AN AMOUNT SPECIFIED IN THE PARTICIPANT'S AGREEMENT. A PARTICIPANT IS ENTITLED TO RECEIVE A DISTRIBUTION OF AN AMOUNT EQUAL TO THE PARTICIPANT'S VESTED ACCOUNT, ON THE FIXED PAYMENT DATE SPECIFIED IN THE PARTICIPANT'S AGREEMENT. A MARYLAND ECONOMIC DEVELOPMENT CORP 521376562 NONEAVAIL 2010-12-20 8000000 CURRENT REFUNDING OF 2006 ISSUE AND CONSTRUCTION PROJECT 0 0 0 A 8000000 94250 3932051 2300000 1673699 1 0 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 FORM 990, SCHEDULE K THESE BONDS WERE ISSUED AS DRAW DOWN BONDS WITH A MAXIMUM AUTHORIZED DRAW DOWN AMOUNT OF $8,000,000. PART II REFLECTS THE PROCEEDS DRAWN AND SPENT AS OF JUNE 30, 2014. OTHER SPENT PROCEEDS IS THE AMOUNT OF THE BOND ISSUE USED TO REFUND THE 2006 ISSUE. X 190 EXCLUDED UNDER SFAS 116 X 4 EXCLUDED UNDER SFAS 116 X 0 EXCLUDED UNDER SFAS 116 X 42 1044133 FMV 0 1 1 PART I, LINE 32B: PUBLIC AUCTION IS THE USUAL MECHANISM FOR THE DISPOSAL OF WORKS BEING DE-ACCESSIONED FROM THE COLLECTION AFTER REVIEW BY THE DIRECTOR, CURATORS, AN ACCESSIONS COMMITTEE AND FINAL APPROVAL BY THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. THE MUSEUM DOES NOT USE A THIRD PARTY OR RELATED ORGANIZATION TO SOLICIT OR PROCESS NONCASH CONTRIBUTIONS. PART I, LINE 33: THE MUSEUM'S PERMANENT COLLECTION CONSISTS OF OVER 95,000 OBJECTS. IN CONFORMITY WITH ACCOUNTING POLICIES GENERALLY FOLLOWED BY ART MUSEUMS, THE VALUE OF THE MUSEUM'S COLLECTION OF ART OBJECTS IS NOT CAPITALIZED AND HAS BEEN EXCLUDED FROM THE STATEMENTS OF FINANCIAL POSITION, AND GIFTS OF ART OBJECTS ARE NOT RECOGNIZED AS CONTRIBUTED REVENUE. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS A COPY OF FORM 990 IN DETAIL. AFTER THE AUDIT COMMITTEE COMPLETES ITS REVIEW, A DRAFT IS SENT TO THE ENTIRE BOARD FOR COMMENTS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BMA HAS A QUESTIONNAIRE THAT REQUIRES TRUSTEES WITH VOTING PRIVILEGES TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ONE HUNDRED PERCENT OF VOTING TRUSTEES COMPLETED THE QUESTIONNAIRE AND CERTIFIED THE DOCUMENT WITH THEIR RESPECTIVE SIGNATURES. NO CONFLICTS OF INTEREST WERE IDENTIFIED. TRUSTEES ARE ASKED TO BRING ANY CONFLICTS OF INTEREST TO THE ATTENTION OF THE CHAIRMAN OF THE BOARD OF TRUSTEES AS CHAIR OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES RECOMMENDS COMPENSATION FOR THE DIRECTOR BASED ON PERFORMANCE AND THE REVIEW OF COMPARABLE DATA FROM SIMILAR INSTITUTIONS, THE BOARD OF TRUSTEES APPROVES THE ANNUAL OPERATING BUDGET WHICH INCLUDES COMPENSATION FOR THE DIRECTOR. THE DECISIONS OF THE COMPENSATION COMMITTEE ARE COMMUNICATED IN WRITING FROM THE BOARD CHAIR TO THE DEPUTY DIRECTOR FOR FINANCE AND ADMINISTRATION, WRITTEN NOTES ACCOMPANY THE BUDGET AND MINUTES OF THE BOARD OF TRUSTEES MEETINGS ARE MAINTAINED. THE MUSEUM PARTICIPATES ANNUALLY IN SALARY SURVEYS TO BENCHMARK COMPENSATION RANGES AGAINST PEER INSTITUTIONS. THE BOARD OF TRUSTEES APPROVES THE ANNUAL OPERATING BUDGET WHICH INCLUDES COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. WRITTEN NOTES ACCOMPANY THE BUDGET AND MINUTES OF THE BOARD OF TRUSTEES MEETINGS ARE MAINTAINED. FORM 990, PART VI, SECTION C, LINE 19 BMA MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VIII, LINE 11A FUNDS RECEIVED THROUGH THE SALE OF ART OBJECTS (DEACCESSIONS) ARE RESTRICTED FOR THE PURPOSE OF PURCHASING OTHER ART OBJECTS. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 12,913.