2015-08-13T11:59:33-05:00 2014-09-30 MARCUM LLP ONE SE THIRD AVENUE SUITE 1100 MIAMI FL 33131 990 2013-10-01 592085261 MUSEUM OF CONTEMPORARY ART INC % ALAN WAUFLE MUSE 3058936211 770 NE 125TH STREET Suite NORTH MIAMI FL 33161 ALAN WAUFLE ASSISTANT DIRECTOR 3058936211 2015-08-14 true Donald Butler P00541422 3058936211 2013 2016-03-07 17:11:31Z IRMA BRAMAN 770 NE 125TH STREET NORTH MIAMI FL 33161 2595663 false X http://www.mocanomi.org/ X 1981 FL TO MAKE CONTEMPORARY ART ACCESSIBLE TO DIVERSE AUDIENCES-ESPECIALY UNDER-SERVED POPULATIONS BY EXPLORING THE ART OF OUR TIME AND ITS RELATIONSHIP TO A BROADER CULTURAL CONTEXT. X 27 27 59 12 0 2181430 1733833 141493 134448 244038 169471 273222 499694 2840183 2537446 0 0 0 0 954825 1011154 0 0 286961 2009895 1951145 2964720 2962299 -124537 -424853 7434063 1702023 312882 638222 7121181 1063801 X THE MISSION OF THE MUSEUM OF CONTEMPORARY ART IS TO MAKE CONTEMPORARY ART ACCESSIBLE TO DIVERSE AUDIENCES-ESPECIALLY UNDER-SERVED POPULATIONS-BY EXPLORING THE ART OF OUR TIME AND ITS RELATIONSHIP TO A BROADER CULTURAL CONTEXT. THE MUSEUM IS PARTICULARLY INTERESTED IN PROVIDING A FORUM FOR YOUNG AND EMERGING ARTISTS AND IN PRESENTING AND COLLECTING WORKS BY LOCAL AS WELL AS INTERNATIONALLY RECOGNIZED ARTISTS. THE MUSEUM CARRIES OUT THIS MISSION THROUGH EXHIBITIONS AND ACQUIRING WORKS FOR ITS PERMANENT COLLECTION AS WELL AS RELATED SYMPOSIA, PUBLICATIONS, FILMS, LECTURES, PERFORMANCES, AND EDUCATIONAL OUTREACH ACTIVITIES, THEREBY PROVIDING A FORUM FOR DIALOGUE ABOUT CONTEMPORARY ART IN THE COMMUNITY. false false 1158278 25547 EXHIBITIONS 325012 68020 EDUCATIONAL PROGRAMS 261607 0 PUBLIC PROGRAMS 0 40881 PUBLICATIONS 0 40881 1744897 true true false false false false false true false true true false false false true true true false false false false false false false true false false false false false false false false false false false false false true true false true false false false false false true 79 0 true 59 true false false false false false true true false false false false X 27 27 false false false false false true false true true false false true true true true true false true true false FL X X ALAN WAUFLE 3058936211 770 NE 125TH STREET NORTH MIAMI FL 33161 PAULA MORABITO TREASURER 1.0 X X 0 CINDI NASH SECRETARY 1.0 X X 0 SHELDON ANDERSON VICE CHAIR 1.0 X X 0 MICHAEL COLLINS DIRECTOR 1.0 X 0 IRMA BRAMAN CHAIR EMERITUS 1.0 X X 0 DR KIRA FLANZRAICH CHAIRMAN 1.0 X X 0 RAY ELLEN YARKIN PRESIDENT 1.0 X 0 HOLLY BINN DIRECTOR 1.0 X 0 ROSALIND JACOBS DIRECTOR 1.0 X 0 TOM BLOOM DIRECTOR 1.0 X 0 JOANNE KATZ DIRECTOR 1.0 X 0 DR SHULAMIT KATZMAN DIRECTOR 1.0 X 0 JAN LEWIS DIRECTOR 1.0 X 0 DIANE LIEBERMAN DIRECTOR 1.0 X 0 SANDRA MUSS DIRECTOR 1.0 X 0 ELLA CISNEROS DIRECTOR 1.0 X 0 JORGE GONZALEZ DIRECTOR 1.0 X 0 EVAN REED DIRECTOR 1.0 X 0 JEROME KERR-JARRETT DIRECTOR 1.0 X 0 JOAN LEVIEN ROBERTSON DIRECTOR 1.0 X 0 RAQUEL SCHECK DIRECTOR 1.0 X 0 LENORE SENDER DIRECTOR 1.0 X 0 ANDREW SMULIAN DIRECTOR 1.0 X 0 BARBARA HERZBERG DIRECTOR 1.0 X 0 JANICE LIPTON DIRECTOR 1.0 X 0 JACKIE SOFFER DIRECTOR 1.0 X 0 DEEPAK SONI DIRECTOR 1.0 X 0 ALEX GARTENFELD EXECUTIVE DIRECTOR 40.0 X 103000 0 0 103000 0 0 1 false false false 0 197917 78000 627493 830423 221444 1733833 MUSEUM ADMISSIONS 25547 25547 FEES FOR EDUCATION 68020 68020 INCOME FORM PUBLICATIONS 40881 40881 SPONSORED TRAVEL 0 0 134448 169471 169471 0 0 0 0 0 0 483533 78000 25522 458011 458011 0 59064 32695 26369 26369 OTHER INCOME 15314 15314 15314 2537446 176131 627482 0 0 0 0 103000 64140 11423 27437 0 770190 479610 85415 205165 0 62055 33892 14587 13576 75909 38686 20322 16901 0 351506 9315 342191 16600 16600 0 0 0 164377 162486 1295 596 196379 69267 127112 148808 94039 51474 3295 10316 2276 7306 734 0 233691 70726 159522 3443 31885 27518 2257 2110 0 38741 21068 14892 2781 0 0 15401 15401 35287 16184 19103 SECURITY 71997 71472 435 90 EXHIBIT FEES 254482 254458 24 PUBLICATIONS/COLLECTIONS 45236 39466 5636 134 ARTIST/CURATOR/HONORARIUM EXP 195987 195987 140452 94307 35446 10699 2962299 1744897 930441 286961 52349 50799 391759 0 39694 0 104070 16688 0 0 0 0 0 0 25383 0 0 0 179853 152253 64476 27600 6756332 1606936 0 0 0 0 0 0 0 0 7434063 1702023 169382 60401 0 0 143500 0 0 0 0 0 0 0 0 0 0 0 0 577821 312882 638222 X 1260336 162183 443845 569618 5417000 332000 7121181 1063801 7434063 1702023 X -424853 165493 -5798020 X false true X true false X 2486373 2013899 3531907 2181430 1733833 11947442 0 1015010 929307 1576090 1429118 1359977 6309502 3501383 2943206 5107997 3610548 3093810 18256944 0 18256944 94245 222970 233263 244038 169471 963987 0 149957 182796 99295 289532 483533 1205113 20426044 883883 0.89381 0.92281 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 5932757 11062 296935 265750 5091425 883579 5996325 50000 155830 269398 5932757 5449017 638659 91351 5996325 5548639 -99622 5449017 3552166 2010000 101783 0 115310 5548639 0.37600 0.62400 false false 60988 48331 12657 112239 97296 14943 6626 6626 27600 0 DUE TO ICA 577821 577821 X 4088438 165493 1359977 25522 1550992 2537446 2537446 4347798 1359977 25522 1385499 2962299 2962299 SCHEDULE D, PART III, QUESTION 4 The museum is particularly interested in providing a forum for young and emerging artists and in presenting and collecting works by local as well as internationally recognized artists. The mission of the Museum of Contemporary Art is to make contemporary art accessible to diverse audiences-especially under-served populations-by exploring the art of our time and its relationship to a broader cultural context. SCHEDULE D, PART XII, LINE 2D AND PART XIII, LINE 2D FUNDRAISING INCOME IS PRESENTED NET OF DIRECT EXPENSES ON FORM 990 BUT PRESENTED GROSS ON AUDITED FINANCIAL STATEMENTS. Total direct fundraising expense is $25,522. SCHEDULE D, PART X , LINE 2 Management has analyzed the tax positions taken and has concluded that as of September 30, 2014, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. If the Museum were to incur an income tax liability in the future, interest and penalties would be reported as income taxes. The Museum is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. SCHEDULE D, PART V , LINE 1F In May 2014, the Knight Foundation (the Foundation) revoked its grant from the Museum. The Museum recognized a loss of $5,091,425 due to the revocation of the Foundation's grant. this was reflected on line 1f of the current year activity. Auction 172500 172500 Enchanted Eve 292200 75000 217200 207 10575 2 96833 3000 93833 454 14286 561533 78000 483533 661 24861 25522 458011 X 0 X CNM - UTILITIES/INSURANCE/COMMUNICATION/COPIES 1 189204 COST X FOOD AND LIQUOR 3 32240 COST false false false FORM 990, SCHEDULE M, PART I, LINE 1 THE FILING ORGANIZATION IS A MUSEUM AND ELECTS UNSER SAS 116 NOT TO CAPITALIZE ITS COLLECTION, THEREFORE, NO REVENUE IS REPORTED ON FORM 990, PART VIII, STATEMENT OF REVENUE, LINE 1G AS PERMITED UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPALS. REVOCATION OF ENDOWMENT 2014-05-01 5091425 VALUE OF ENDOWMENT 650464177 JOHN S JAMES L KNIGHT FOUNDATION 200 S BISCAYNE BLVD MIAMI FL 33131 501(C)(3) INVESTMENTS, PP&E, AND INVENTORY 2014-09-30 626563 ACTUAL VALUE ON DATE 471251523 INSTITUTE OF CONTEMPORARY ART MIAM 4040 NE 2ND AVE STE 200 MIAMI FL 33137 501(C)(3) true false false false SCHEDULE N - TRANSFER OF ASSETS On August 6, 2014, the Board made arrangements for the Museum's employees to exit the city-owned building and remove approximately $25.974 in property and equipment and approximately $22,768 in inventory from the Museum's Gift Shop. The Board subsequently announced plans to establish a new arts organization under the name Institute of Contemporary Art (ICA). The original Museum in North Miami will continue to be called Museum of Contemporary Art. The Board maintained control of the Museum's cash and investment accounts and had access to the Museum's credit cards during this transitional period. Approximately $80,032 in items that were purchased using the Museum's assets and credit cards that were for the benefit of the ICA. On January 13, 2015, the City approved the Final Settlement and Compromise Agreement (the Agreement) between City of North Miami and Board of Trustees. This set forth a division of the collection, grant funding, related party expenses, investment and endowment accounts between the two parties. The Agreement stipulated that the Museum transfer investment and endowment accounts with a balance of approximately $577,821 as of September 30, 2014. The Organization recorded a liability in the amount of the balance due to the ICA and recognized a loss during the year ending September 30, 2014. In May 2014, the Knight Foundation (the Foundation) revoked its grant from the Museum. The Museum recognized a loss of $5,091,425 due to the revocation of the Foundation's grant. PART VI, SECTION B, LINE 11 A PDF COPY OF THE 990 IS GIVEN TO ALL BOARD MEMBERS AND AUDIT COMMITTEE FOR REVIEW AND COMMENTS BEFORE 990 IS FILED PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE MADE AVAILABLE IN THE FOLLOWING MANNER: FORM 990 IS AVAIALBLE UPON REQUEST AND CAN BE RETRIEVED USING GUIDESTAR. THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. PART VI, SECTION B, LINE 12B-C THE CONFLICT OF INTEREST POLICY IS MONITORED BY REQUESTING TRUSTEES, DIRECTORS, OFFICERS, AND KEY EMPLOYEES TO COMPLETE AN ANNUAL CONFLICT OF INTEREST CERTIFICATE OF ACKNOWLEDGEMENT. PART VI, SECTION B, LINE 15A-B COMPENSATION OF THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICALS, OFFICERS, AND KEY EMPLOYEES ARE DETERMINED BY A SALARY SURVEY FROM THE SOUTHEASTERN MUSEUM CONFERENCE IN WHICH COMPENSATION INFORMATION IS GATHERED BASED ON COMPARABLE MUSEUMS. PART XI, LINE 9 On August 6, 2014, the Board made arrangements for the Museum's employees to exit the city-owned building and remove approximately $25.974 in property and equipment and approximately $22,768 in inventory from the Museum's Gift Shop. The Board subsequently announced plans to establish a new arts organization under the name Institute of Contemporary Art (ICA). The original Museum in North Miami will continue to be called Museum of Contemporary Art. The Board maintained control of the Museum's cash and investment accounts and had access to the Museum's credit cards during this transitional period. Approximately $80,032 in items that were purchased using the Museum's assets and credit cards that were for the benefit of the ICA. On January 13, 2015, the City approved the Final Settlement and Compromise Agreement (the Agreement) between City of North Miami and Board of Trustees. This set forth a division of the collection, grant funding, related party expenses, investment and endowment accounts between the two parties. The Agreement stipulated that the Museum transfer investment and endowment accounts with a balance of approximately $577,821 as of September 30, 2014. The Organization recorded a liability in the amount of the balance due to the ICA and recognized a loss during the year ending September 30, 2014. In May 2014, the Knight Foundation (the Foundation) revoked its grant from the Museum. The Museum recognized a loss of $5,091,425 due to the revocation of the Foundation's grant. PART VI, SECTION A, LINE 7A THE CITY OF NORTH MIAMI BEACH HAS THE EXCLUSIVE RIGHT TO APPOINT MEMBERS TO THE ORGANIZATIONS BOARD OF TRUSTEES