2015-07-15T14:18:01-05:00 2014-08-31 390758449 WIPFLI LLP 10000 INNOVATION DRIVE SUITE 250 MILWAUKEE WI 532264837 990 2013-09-01 390806316 MILWAUKEE ART MUSEUM INC MILW 4142243200 700 N ART MUSEUM DRIVE MILWAUKEE WI 53202 DANIEL KEEGAN DIRECTOR 4142243200 2015-07-15 1 DAVE GLOBIG P01356041 4144319300 2015-07-15 2013 2016-02-25 16:41:14Z DANIEL KEEGAN 700 N ART MUSEUM DRIVE MILWAUKEE WI 53202 67706677 0 X WWW.MAM.ORG X 1910 WI THE MILWAUKEE ART MUSEUM COLLECTS AND PRESERVES ART, PRESENTING IT TO THE COMMUNITY AS A VITAL SOURCE OF INSPIRATION AND EDUCATION. 46 46 393 267 -195981 -309273 10912522 22899259 2601234 2761425 2408125 2798066 161493 790893 16083374 29249643 0 0 0 0 6613230 6979728 129000 134496 960824 8285799 9631619 15028029 16745843 1055345 12503800 132352354 147563835 1762687 2036831 130589667 145527004 X THE MILWAUKEE ART MUSEUM COLLECTS AND PRESERVES ART, PRESENTING IT TO THE COMMUNITY AS A VITAL SOURCE OF INSPIRATION AND EDUCATION.THE PURPOSES OF THE MILWAUKEE ART MUSEUM, INC. INCLUDE: TO INSPIRE AND EDUCATE PEOPLE IN THE GREATER MILWAUKEE AREA, ACROSS THE STATE OF WISCONSIN AND BEYOND BY COLLECTING, PRESERVING AND PRESENTING ART; TO EXPAND AND DIVERSIFY THE LOCAL ARTISTIC AND CULTURAL IDENTITY OF THE GREATER MILWAUKEE AREA, TO EDUCATE BOTH RESIDENTS AND VISITORS ABOUT ART AND ART HISTORY; TO ENCOURAGE COMMUNITY DEVELOPMENT BY SUPPORTING EMERGING ARTS AND ARTISTS, AND TO OFFER FAMILY-FRIENDLY EDUCATIONAL PROGRAMS DESIGNED TO ENHANCE THE ARTISTIC SPIRIT OF THE LOCAL COMMUNITY; TO PRESERVE, PROTECT, AND MAINTAIN THE CALATRAVA ADDITION, THE FIRST BUILDING IN THE UNITED STATES TO BE DESIGNED BY SANTIAGO CALATRAVA, AND TO WORK IN COOPERATION WITH PUBLIC ENTITIES IN THE USE OF THE COUNTY-OWNED SAARINEN AND KAHLER BUILDINGS, CITY PROPERTY AND LAKEFRONT LANDS. 0 0 3463934 0 293640 PRESENTATION AND CURATORIAL: SPECIAL EXHIBITS DURING 13-14 INCLUDED THOMAS SULLY: PAINTED PERFORMANCE; UNCOMMON FOLK: TRADITIONS IN AMERICAN ART; KANDINSKY: A RETROSPECTIVE; 125 YEARS OF THE MILWAUKEE ART MUSEUM; CURRENTS 36: DIRK SKREBER; TATTOO: FLASH ART OF AMUND DIETZEL; AMERICAN PAINTINGS DISPLAY; TARYN SIMON: WORLD AIDS DAY DISPLAY; TOOL AT HAND; THE BLOEMAERT LEGACY; POSTCARDS FROM AMERICA: MILWAUKEE: ILLUSIONS: NEAR AND FAR; THE VETERANS BOOK PROJECT: OBJECTS FOR DEPLOYMENT, THE ANNUAL SCHOLASTIC EXHIBITION. 1320665 0 285811 EDUCATION: WE SERVED A TOTAL OF 453,963 PEOPLE IN EDUCATION PROGRAMS IN FISCAL YEAR 2013/2014. WE MAKE THE MUSEUM A GATHERING PLACE FOR ALL AGES TO EXPERIENCE THE ARTS. ADULT EDUCATION PROGRAMS ENHANCE GALLERY INTERPRETATION STRATEGIES, EXPAND EDUCATIONAL PROGRAMS IN THE GALLERIES TO ANIMATE THE ART AND ENCOURAGE DEEPER CONNECTIONS BETWEEN VISITORS AND THE ART. PROGRAMS INCLUDE MAM AFTER DARK, GALLERY TALKS, LECTURES, SYMPOSIUM. SCHOOL EDUCATION PROGRAMS ALIGN OUR PROGRAMS WITH FEDERAL, STATE, AND LOCAL EDUCATION AGENDAS TO SERVE SCHOOL CHILDREN THROUGH SCHOOL TOUR PROGRAMS FROM OVER 650 SCHOOLS. PROGRAMS INCLUDE THE JR. DOCENT PROGRAM, OUR HIGH SCHOOL PROGRAM AND COLLABORATIONS WITH GROUPS SUCH AS THE SYMPHONY. YOUTH PROGRAMS ENGAGE YOUNG CHILDREN EARLY AND OFTEN BY PROVIDING BETTER ON-SITE PROVISIONS, PROGRAMS, AND INFRASTRUCTURE FOR FAMILIES. 2387231 0 1602848 AUDIENCE MEMBER AND VOLUNTEER DEVELOPMENT: ADMISSIONS AND TOURS FOR FISCAL 2014 TOTALED 340,144. APPROXIMATELY 267 VOLUNTEERS ASSISTED IN MANY ACTIVITIES. 970605 ACQUISITION OF ART: ACCESSION OF ART FOR THE MUSEUM'S PERMANENT COLLECTION. THE ART MUSEUM'S COLLECTION COMPRISES MORE THAN 29,000 WORKS OF ART THAT ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN; ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED; AND ARE SUBJECT TO A POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS. 5458521 1310247 BUSINESS OPERATIONS & BUILDING SERVICES 6429126 1310247 13600956 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 218 0 1 393 1 1 1 0 0 0 0 1 1 0 0 0 0 X 46 46 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WI X X JANE WOCHOS 4142243881 700 N ART MUSEUM DRIVE MILWAUKEE WI 53202 DEBORAH ATTANASIO TRUSTEE 1.00 X 0 0 0 DONALD W BAUMGARTNER TRUSTEE 1.00 X 0 0 0 LORI BECHTHOLD TRUSTEE 1.00 X 0 0 0 WENDY W BLUEMENTHAL TRUSTEE 1.00 X 0 0 0 RANDY BRYANT TRUSTEE 1.00 X 0 0 0 ANGELA JOHNSON COLBERT TRUSTEE 1.00 X 0 0 0 STEPHEN EINHORN TRUSTEE 1.00 X 0 0 0 PHILIP B FLYNN TRUSTEE 1.00 X 0 0 0 JULIE GARDNER TRUSTEE 1.00 X 0 0 0 ELLEN GLAISNER TRUSTEE 1.00 X 0 0 0 CARMEN HABERMAN TRUSTEE 1.00 X 0 0 0 CLAIRE H HACKMANN TRUSTEE 1.00 X 0 0 0 RONALD JOELSON TRUSTEE 1.00 X 0 0 0 JUDY JORGENSEN TRUSTEE 1.00 X 0 0 0 W DAVID KNOX II TRUSTEE 1.00 X 0 0 0 ANTHONY S KRAUSEN MD TRUSTEE 1.00 X 0 0 0 DONALD W LAYDEN JR TRUSTEE 1.00 X 0 0 0 JOAN LUBAR TRUSTEE 1.00 X 0 0 0 MARIANNE LUBAR TRUSTEE 1.00 X 0 0 0 WAYNE R LUEDERS TRUSTEE 1.00 X 0 0 0 P MICHAEL MAHONEY TRUSTEE 1.00 X 0 0 0 EILEEN MANDEL TRUSTEE 1.00 X 0 0 0 JUSTIN L MORTARA PHD TRUSTEE 1.00 X 0 0 0 ANDY NUNEMAKER TRUSTEE 1.00 X 0 0 0 MARGARET PADDOCK TRUSTEE 1.00 X 0 0 0 JILL G PELISEK TRUSTEE 1.00 X 0 0 0 SANDE ROBINSON TRUSTEE 1.00 X 0 0 0 RICHARD L SCHMIDT JR TRUSTEE 1.00 X 0 0 0 SUZANNE L SELIG TRUSTEE 1.00 X 0 0 0 ROGER S SMITH TRUSTEE 1.00 X 0 0 0 JUDSON M SNYDER TRUSTEE 1.00 X 0 0 0 MARY M STROHMAIER TRUSTEE 1.00 X 0 0 0 CHRISTINE SYMCHYCH TRUSTEE 1.00 X 0 0 0 FREDERICK VOGEL IV TRUSTEE 1.00 X 0 0 0 JEFFERY W YABUKI TRUSTEE 1.00 X 0 0 0 SHELDON B LUBAR TRUSTEE 1.00 X 0 0 0 PATRICIA JURSIK TRUSTEE 1.00 X 0 0 0 RUSSELL W STAMPER II TRUSTEE 1.00 X 0 0 0 JULIA DECICCO TRUSTEE 1.00 X 0 0 0 MELISSA BLOCK TRUSTEE 1.00 X 0 0 0 JODI EASTBERG PHD TRUSTEE 1.00 X 0 0 0 RAYMOND R KRUEGER CHAIRMAN OF THE BOARD 1.00 X X 0 0 0 KENNETH C KREI PRESIDENT 1.00 X X 0 0 0 GAIL A LIONE SECRETARY 1.00 X X 0 0 0 R BRUCE MCDONALD TREASURER 1.00 X X 0 0 0 FREDERIC G FRIEDMAN ASST. SECRETARY & LEGAL CONCIL 1.00 X X 0 0 0 DANIEL KEEGAN DIRECTOR 40.00 X 302748 0 15743 JANE WOCHOS CFO 40.00 X 122142 0 7779 MARY ALBRECHT SENIOR DIRECTOR OF DEVELOPMENT 40.00 X 138011 0 4735 BRADY ROBERTS CHIEF CURATOR 40.00 X 150980 0 8667 VICKI SCHARFBERG SENIOR DIRECTOR OF MARKETING 40.00 X 117821 0 7576 831702 0 44500 5 0 1 0 HGA PO BOX 86 MINNEAPOLIS MN 554861861 CONSTRUCTION 922033 HUNZINGER CONSTRUCTION COMPANY 21100 ENTERPRISE AVE BROOKFIELD WI 53045 CONSTRUCTION 622219 CRYSTALIZATIONS SYSTEMS INC 1401 LINCOLN AVE HOLBROOK NY 11741 CONSTRUCTION 286000 MAHLER ENTERPRISES 600 NORTH BROADWAY SUITE 200 MILWAUKEE WI 53202 CLEANING SERVICE 231386 KMI CONSTRUCTION 17150 W PHEASANT DR BROOKFIELD WI 53005 CONSTRUCTION 214915 15 1167250 428919 988919 20314171 361376 22899259 ADMISSIONS/TOURS 900099 1939445 1602848 336597 EXHIBITION INCOME 900099 293640 293640 CLASS FEES 900099 150863 150863 SPECIAL EVENTS EXHIBITION RELATED 900099 134948 134948 242529 242529 2761425 954865 954865 497356 869670 -372314 -372314 -372314 36434831 34591630 1843201 1843201 1843201 655124 428919 735968 -80844 -80844 3223021 2259766 963255 963601 -346 COMMERICAL PHOTO 900099 38200 38200 PARKING 900099 21126 21126 CATERING 900099 4061 4061 217409 104117 113292 280796 29249643 3492546 -195981 3053819 448412 448412 5170547 4273516 423844 473187 114075 89022 15828 9225 765446 622918 91149 51379 481248 387895 59173 34180 26845 26845 39900 39900 134496 134496 163501 163501 5095 2021 3074 827640 810002 17638 1066762 1052162 14600 170287 170287 881102 858643 22459 77746 42329 34469 948 2844236 2264849 579387 176953 71252 105701 EXHIBITION EXPENSES 1622031 1622031 PURCHASES OF ART 970605 970605 EDUCATION PROGRAM EXPEN 246647 246647 COLLECTION MAINT/FRAMIN 96914 96880 34 415355 190184 225171 16745843 13600956 2184063 960824 1228615 5001075 2629416 11163603 290864 197303 424630 450635 535286 883348 119737927 41567113 79549909 78170814 36937831 43532281 9782772 7736103 973031 428673 132352354 147563835 1181017 1381448 581670 655383 1762687 2036831 X 84338011 85221029 22821567 35924832 23430089 24381143 130589667 145527004 132352354 147563835 X 12503800 2397485 36052 X X 0 1 X 1 0 X 13522153 9641824 8341614 10912522 22899084 65317197 579667 595000 626668 655336 55250 2511921 14101820 10236824 8968282 11567858 22954334 67829118 6391987 61437131 887391 821120 752936 1014314 1452221 4927982 72757100 24851931 0.84440 0.75380 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 35272154 875569 4890746 2208510 38829959 32334439 927808 3106578 1096671 35272154 30268902 432877 2987454 1354794 32334439 27741129 647969 3462019 1582215 30268902 24434720 2113524 1929886 737001 27741129 0.03440 0.62790 0.33770 1 0 95568175 25225965 70342210 17062804 12035898 5026906 4862439 4305250 557189 2244509 2244509 78170814 MONEY MARKET FUNDS 7736103 F 7736103 X 34282902 2397485 147875 2651400 5196760 29086142 163501 163501 29249643 19345565 147875 2615348 2763223 16582342 163501 163501 16745843 PART III, LINE 1A: THE ART MUSEUM'S COLLECTION COMPRISES MORE THAN 29,000 WORKS OF ART THAT ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN; ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED; AND ARE SUBJECT TO A POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS. THE VALUE OF THE ART OBJECTS IN THE PERMANENT COLLECTION IS EXCLUDED FROM THE STATEMENTS OF FINANCIAL POSITION. AN ADDITION OF A WORK OF ART TO THE PERMANENT COLLECTION IS MADE EITHER BY DONATION FROM A BENEFACTOR OR THROUGH A PURCHASE FROM ART MUSEUM ACQUISITION FUNDS. ART MUSEUM FUNDS DESIGNATED FOR ACQUISITIONS MAY BE CLASSIFIED AS PERMANENTLY RESTRICTED, FOR WHICH ONLY THE INCOME EARNED ON THE PRINCIPAL BALANCES MAY BE USED FOR ACQUISITIONS; TEMPORARILY RESTRICTED, FOR WHICH BOTH THE PRINCIPAL AND EARNED INCOME MAY BE USED FOR ACQUISITIONS; OR UNRESTRICTED, REPRESENTING FUNDS DESIGNATED BY THE BOARD TO BE USED FOR ACQUISITIONS. PROCEEDS FROM DEACCESSIONS OF COLLECTION ITEMS ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE ART MUSEUM'S COLLECTION COMPRISES MORE THAN 29,000 WORKS OF ART THAT ARE HELD FOR PUBIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. THE COLLECTION DIRECTLY FULFILLS THE ORGANIZATION'S EXEMPT PURPOSE OF COLLECTING AND PRESERVING ART AND PRESENTING IT TO THE COMMUNITY AS A VITAL SOURCE OF INSPIRATION AND EDUCATION. PART V, LINE 4: THE ART MUSEUM'S ENDOWMENTS CONSIST OF VARIOUS FUNDS ESTABLISHED TO BENEFIT THE ART MUSEUM FOR A VARIETY OF PURPOSES. THE ART MUSEUM'S ENDOWMENTS INCLUDE BOTH DONOR-RESTRICTED ENDOWMENTS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS AN ENDOWMENT. NET ASSETS ASSOCIATED WITH THE ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR IMPOSED RESTRICTIONS. PART X, LINE 2: IN ORDER TO ACCOUNT FOR ANY UNCERTAIN TAX POSITIONS, THE ART MUSEUM DETERMINES WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION ON THE TECHNICAL MERITS OF THE POSITION, ASSUMING THE TAXING AUTHORITY HAS FULL KNOWLEDGE OF ALL INFORMATION. IF THE TAX POSITION DOES NOT MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD, THE BENEFIT OF THAT POSITION IS NOT RECOGNIZED IN THE FINANCIAL STATEMENTS. THE ART MUSEUM HAS RECORDED NO ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. TAX RETURNS FOR THE YEAR ENDED AUGUST 31, 2011 AND ALL SUBSEQUENT YEARS REMAIN SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CAFE EXPENSE 890,659. RENTAL EXPENSE 869,670. FRIENDS OF ART DONATION TRANSFER 119,051. SPECIAL EVENT EXPENSE 735,968. CHANGE IS ASSETS HELD IN TRUST 30,015. CHANGE IN PRESENT VALUE DISCOUNT 6,037. PART XII, LINE 2D - OTHER ADJUSTMENTS: CAFE EXPENSE 890,659. RENTAL EXPENSE 869,670. FRIENDS OF ART DONATION TRANSFER 119,051. SPECIAL EVENT EXPENSE 735,968. X X X X X X 1 SPONSORSHIP PLACEMENT 2002 200TH AVE UNION GROVE WI 53182 DEVELOPMENT CONSULTANT/ONSITE STAFF 0 0 134496 -134496 134496 -134496 WI LAKEFRONT FESTIVAL OF ARTS 390702 130700 260002 11466 116961 21942 13450 226150 BAL DU LAC/OTHER FOA 328987 230206 98781 156473 2 364354 68013 296341 189526 1084043 428919 655124 11466 116961 21942 13450 572149 735968 -80844 X X X X 0 0 0 0 0 0 0 0 0 DANIEL KEEGAN DIRECTOR 300054 0 0 0 2694 0 7650 0 8093 0 318491 0 0 0 BRADY ROBERTS CHIEF CURATOR 150354 0 0 0 626 0 4582 0 4085 0 159647 0 0 0 X 90 0 X 20 343775 FAIR MARKET VALUE X 1 601 FAIR MARKET VALUE X SOFTWARE 1 17000 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION TRACKS AND REPORTS THE ACTUAL NUMBER OF CONTRIBUTIONS THEY RECEIVE THROUGHOUT THE YEAR. PART I, LINE 33: A ZERO AMOUNT WAS REPORTED ON FORM 990, PART VIII, LINE 1G, BECAUSE THE MUSEUM DID NOT NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES JOAN LUBAR AND MARIANNE LUBAR AND SHELDON LUBAR HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE CORPORATION SHALL HAVE MULTIPLE CLASSES OF MEMBERS WHICH SHALL BE COMPRISED OF THOSE WHO CONTRIBUTE FINANCIAL SUPPORT TO THE CORPORATION, WITH THE BENEFITS OF EACH LEVEL OF MEMBERSHIP DETERMINED ACCORDING TO THE GUIDELINES ESTABLISHED BY THE BOARD OF TRUSTEES. EACH MEMBER SHALL BE ENTITLED TO ONE VOTE FOR THE PURPOSE OF ELECTING THE BOARD OF TRUSTEES. MEMBERS SHALL ALSO BE ENTITLED TO THE SPECIFIC BENEFITS DESIGNATED FOR THEIR GIVEN LEVEL OF CONTRIBUTION TO THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER SHALL BE ENTITLED TO ONE VOTE FOR THE PURPOSE OF ELECTING THE BOARD OF TRUSTEES. MEMBERS SHALL ALSO BE ENTITLED TO THE SPECIFIC BENEFITS DESIGNATED FOR THEIR GIVEN LEVEL OF CONTRIBUTION TO THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS REVIEWED BY THE CFO, AUDIT COMMITTEE, FINANCE COMMITTEE AND THE BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS MUST IMMEDIATELY DISCLOSE TO THE BOARD OF DIRECTORS THE EXISTENCE OF ANY POTENTIAL CONFLICT OF INTEREST THAT IS EXPECTED TO RESULT IN AN ECONOMIC BENEFIT TO A DISQUALIFIED PERSON. AFTER DISCLOSURE OF THE CONFLICT OF INTEREST, THE DISQUALIFIED PERSON, IF PRESENT, SHALL LEAVE THE BOARD MEETING WHILE THE CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD MEMBERS WHO DO NOT HAVE A CONFLICT OF INTEREST SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. THE CHAIR OF THE BOARD SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED MEMBER, OR A COMMITTEE COMPRISED OF MEMBERS WHO DO NOT HAVE A CONFLICT OF INTEREST TO EVALUATE THE PROPOSED TRANSACTION OR ARRANGEMENT USING APPROPRIATE DATA. FORM 990, PART VI, SECTION B, LINE 15 THE FOLLOWING POLICY APPLIES TO THE DIRECTOR AS WELL AS ALL MEMBERS OF THE SENIOR MANAGEMENT TEAM: THE COMPENSATION OF EACH SENIOR STAFF MEMBER WILL BE ESTABLISHED BY THE HUMAN RESOURCES COMMITTEE IN ADVANCE. IF ANY COMMITTEE MEMBERS ARE EMPLOYEES OF THE ORGANIZATION, THEY MAY PROVIDE INPUT TO THE BOARD, BUT WILL NOT PARTICIPATE IN THE DISCUSSION OR DECISION MAKING BY THE COMMITTEE. THE HUMAN RESOURCE COMMITTEE WILL MEET AT LEAST ANNUALLY, TO APPROVE CHANGES TO THE COMPENSATION FOR ALL SENIOR STAFF MEMBERS. THE COMMITTEE WILL COMPARE THE PROPOSED COMPENSATION LEVELS WITH THOSE OF SIMILARLY SIZED ORGANIZATIONS, BASED ON SALARY SURVEY DATA FROM THE ASSOCIATION OF ART MUSEUM DIRECTORS AND THE MIDWEST MUSEUM ASSOCIATION. THE VOTE BY THE COMMITTEE WILL BE RECORDED IN THE MEETING MINUTES, INCLUDING THE AMOUNTS AUTHORIZED AND REFERENCES TO THE COMPARISON INFORMATION. ANY COMPENSATION OPINIONS PROVIDED TO THE BOARD WILL BE KEPT WITH THE HUMAN RESOURCE COMMITTEE RECORDS. FOR VACANT POSITIONS, THE HUMAN RESOURCE COMMITTEE (OR A SUBCOMMITTEE) WILL APPROVE THE SALARY LEVEL PRIOR TO THE JOB OFFER BEING MADE TO A POTENTIAL NEW SENIOR STAFF MEMBER. IF A SEARCH IS TO BE MADE TO FILL A VACANT SENIOR STAFF POSITION, BOARD MEMBERS AND THE DIRECTOR DISCUSS AND DECIDE WHICH FIRM TO ENGAGE TO CONDUCT THE SEARCH. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST THROUGH CONTACTING JANE WOCHOS, CFO. ANNUAL FINANCIAL REPORTS ARE AVAILABLE ON THE MILWAUKEE ART MUSEUM'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN ASSETS HELD IN TRUST 30,015. CHANGE IN PRESENT VALUE DISCOUNT 6,037. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.