2025-11-17T17:50:36-06:00 2024-12-31 330700332 VASQUEZ COMPANY LLP 655 N CENTRAL AVE STE 1550 GLENDALE CA 91203 990 2024-01-01 330786070 MUSEUM OF LATIN AMERICAN ART MUSE 5624371689 628 ALAMITOS AVENUE LONG BEACH CA 90802 CEDRIC WOOLFORK CFO 5624371689 2025-11-17 1 1 REGINA PRINCE CPA P00576936 2138731700 2024 2025-03-06 01:10:19Z DR LOURDES RAMOS-RIVAS 628 ALAMITOS AVENUE LONG BEACH CA 90802 5114362 0 X WWW.MOLAA.ORG X 1999 CA THE MUSEUM OF LATIN AMERICAN ARTS EXPANDS KNOWLEDGE AND APPRECIATION OF MODERN AND CONTEMPORARY LATIN AMERICAN AND LATINO ART THROUGH ITS COLLECTION, GROUND-BREAKING EXHIBITIONS, STIMULATING EDUCATIONAL PROGRAMS, AND ENGAGING CULTURAL EVENTS. 14 14 65 110 0 0 3891243 2449354 308697 208274 295158 336619 652889 576045 5147987 3570292 0 0 0 0 2932210 3275821 120000 170810 554349 3019630 3423444 6071840 6870075 -923853 -3299783 42188150 39597045 758642 513400 41429508 39083645 X THE SPECIFIC PURPOSE OF THIS CORPORATION IS TO: EXPAND KNOWLEDGE AND APPRECIATION OF MODERN AND CONTEMPORARY LATIN AMERICAN TINE ART THAT HAS BEEN CREATED SINCE WORLD WAR II; TO OPERATE A MUSEUM; TO COLLECT AND DISPLAY LATIN AMERICAN CONTEMPORARY ART; TO PROVIDE EDUCATION AND RESEARCH SERVICES REGARDING MODERN AND CONTEMPORARY LATIN AMERICAN TINE ART. 0 0 2451563 EXHIBITIONS: IN 2024, THE MUSEUM OF LATIN AMERICAN ART (MOLAA) ORGANIZED FIVE MAJOR EXHIBITIONS, WELCOMING OVER 65,000 VISITORS. KEY EXHIBITIONS INCLUDED ARTENICA: ART, SCIENCE, AND TECHNOLOGY IN LATIN AMERICA TODAY, A GETTY-SUPPORTED SHOW HIGHLIGHTING PIONEERING AND CONTEMPORARY LATIN AMERICAN DIGITAL ARTISTS; AND THE ENDLESS SPIRAL BY BETSABE ROMERO, AN EXHIBITION PRESENTED AS A COLLATERAL EVENT AT THE 60TH VENICE BIENNALE EXPLORING THEMES OF MIGRATION AND DISPLACEMENT. CROSS-BORDER WOMEN BY ALEJANDRA PHELTS FOCUSES ON EVERYDAY EXPERIENCES THAT LINK INTIMACY, AFFECTIVE RELATIONSHIPS, AND ATTITUDES OF FEMALE EMPOWERMENT. ANOTHER MAJOR EXHIBITION, VERMILLION LIKE EMBERS BY INDIGENOUS BRAZILIAN ARTIST ANDREY GUAIAN ZIGNNATTO, EXPLORED MEMORY, ANCESTRAL KNOWLEDGE, AND RESISTANCE THROUGH SCULPTURAL INSTALLATIONS ROOTED IN NATIVE TRADITIONS AND URBAN EXPERIENCES. IMPORTANTLY, THE CURATORIAL TEAM WORKED TO CONTINUE THE GROWTH OF ITS PERMANENT COLLECTION OF OVER 1,600 WORKS.BY SHOWCASING BOTH HISTORICAL AND CONTEMPORARY VOICES, MOLAA FOSTERS GREATER GLOBAL UNDERSTANDING OF THE REGION'S CULTURAL RICHNESS, COMPLEXITY, AND ONGOING CONTRIBUTIONS TO THE WORLD OF ART. 1273886 119261 EDUCATIONS: IN 2024, MOLAA SERVED OVER 15,000 K12 STUDENTS THROUGH ITS APRENDE TOUR AND WORKSHOP PROGRAM, OFFERING FREE AND LOW-COST IN-PERSON AND VIRTUAL EXPERIENCES ALIGNED WITH CALIFORNIA VISUAL ARTS STANDARDS. USING VISUAL THINKING STRATEGIES (VTS), APRENDE FOSTERS VISUAL LITERACY, CRITICAL THINKING, AND LANGUAGE DEVELOPMENT WHILE INCREASING ACCESS TO LATIN AMERICAN AND LATINO ART FOR UNDERSERVED COMMUNITIES.MOLAA EXPANDED ITS EDUCATIONAL IMPACT THROUGH INITIATIVES LIKE THE G.R.I.T. SERIES AND THE MOLAA ZOOM PROJECT, SUPPORTING HIGH SCHOOL STUDENTS IN CREATIVE EXPRESSION, COLLEGE AND CAREER READINESS, AND EXPLORATION OF ARTISTIC RESEARCH. ADDITIONAL PROGRAMMING INCLUDED FIVE ANNUAL CULTURAL FESTIVALS, 30+ CORPORATE INCLUSION PROGRAMS, AND 20+ YOUTH INTERNSHIPS.RECOGNIZED AS A MODEL FOR MUSEUM EDUCATION, MOLAA RECEIVED THE 2024 SUPERINTENDENT AWARD FOR EXCELLENCE IN MUSEUM EDUCATION FROM THE CALIFORNIA DEPARTMENT OF EDUCATION AND THE CALIFORNIA ASSOCIATION OF MUSEUMS. MOLAA ALSO CONTRIBUTED TO NATIONAL ARTS EDUCATION BY PUBLISHING A CURRICULUM AND SERVING AS A PEER REVIEWER FOR SCHOLASTIC ARTS MAGAZINE. 707618 163037 PUBLICATIONS: IN 2024, MOLAA CONTINUED TO EXPAND ITS PUBLICATIONS AND EXHIBITION CATALOG SERIES, SUPPORTING ARTISTS WHILE ENHANCING PUBLIC ACCESS TO AND UNDERSTANDING OF LATIN AMERICAN AND LATINO ART. THESE SCHOLARLY PUBLICATIONS SERVE AS LASTING RECORDS OF EXHIBITIONS AND INDIVIDUAL ARTISTS, SUPPORTING ACADEMIC RESEARCH AND INCREASING RECOGNITION AND VALUE OF THE ART AND ARTISTS REPRESENTED. RECENT AND UPCOMING TITLES INCLUDE VERMILLION LIKE EMBERS (ANDREY GUAIAN ZIGNATTO), MEMORIAS DE NUESTRA TIERRA (JUDY BACA), CROSS BORDER WOMEN (ALEJANDRA PHELTS). WORK ALSO PROGRESSED ON THE MOLAA COLLECTION BOOK, A COMPREHENSIVE VOLUME HIGHLIGHTING THE MUSEUM'S PERMANENT COLLECTION.THROUGH THESE EFFORTS, MOLAA CONTRIBUTES TO GLOBAL ART DISCOURSE AND THE LONG-TERM VISIBILITY AND APPRECIATION OF LATIN AMERICAN AND LATINO ART. 4433067 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 185 0 1 65 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X CEDRIC WOOLFORK 5624371689 628 ALAMITOS AVENUE LONG BEACH CA 90802 MIKE DEOVLET CO-CHAIR 5.00 X X 0 0 0 ROBERT BRAUN MD CO-CHAIR 5.00 X X 0 0 0 SOFIA RILEY VICE CHAIR 4.00 X X 0 0 0 TIM DEGANI TREASURER 2.00 X X 0 0 0 ZACH HOROWITZ SECRETARY 2.00 X X 0 0 0 TIFFANY L BARBARA DIRECTOR 1.00 X 0 0 0 MARIANNE GASTELUM DIRECTOR 1.00 X 0 0 0 RICHARD A NERI DIRECTOR (UNTIL JUNE 2024) 1.00 X 0 0 0 PAULA-ROSE WIHONGI DIRECTOR 1.00 X 0 0 0 MARK TAYLOR DIRECTOR 1.00 X 0 0 0 BURKE GUMBINER DIRECTOR 1.00 X 0 0 0 CASTULO DE LA ROCHA DIRECTOR 1.00 X 0 0 0 CELIA S DE BIRBRAGHER DIRECTOR 1.00 X 0 0 0 LYNNE OKON SCHOLNICK DIRECTOR 1.00 X 0 0 0 LISA MILTON DIRECTOR 1.00 X 0 0 0 MARIO CORDERO DIRECTOR 1.00 X 0 0 0 KIKI LIZARRAGA DIRECTOR 1.00 X 0 0 0 LOURDES RAMOS-RIVAS CEO 40.00 X 333250 0 8000 CEDRIC WOOLFORK CFO/COO 40.00 X 159256 0 0 GABRIELA URTIAGA CHIEF CURATOR 40.00 X 165000 0 4855 JENNIFER CARR VP OF DEVELOPMENT 40.00 X 175000 0 0 DINA BARAKAT DIR. OF BANQUETS & SPECIAL EVENTS 40.00 X 159963 0 0 ALISON HENEY VP OF LEARNING & PUBLIC PROGRAMS 40.00 X 120000 0 3496 SOLIMAR SOLAS VP CONTENT/INNOVATION & OUTREACH 40.00 X 127330 0 3799 1239799 0 20150 5 0 1 0 T DE ENRIQUE NORTEN ARQUITECTOS SC CUERNACAC 114 PB COL CONDESA CUAHTEMOC CUAHTEMOC MX 06140 ARCHITECTURAL SERVICES 310466 HURON CONSULTING SERVICES LLC PO BOX 71223 CHICAGO IL 606941223 CONSULTING SERVICES 170810 GARDINER & THEOBALD INC 535 FIFTH AVENUE 3RD FLOOR NEW YORK NY 10017 CONSTRUCTION CONSULTING SERVICES 156206 ISTITUZIONE FONDAZIONE OPERA BEVILACQUA DORSODURE 2826 VENICE IT 30123 EXHIBITION BOOTH RENTAL 141831 SOUTHERN CALIFORNIA EDISON CO PO BOX 300 ROSEMEAD CA 917720001 ELECTRICAL SERVICES 129157 6 46573 375565 932640 1094576 2449354 EDUCATION REVENUE 712110 119261 119261 ADMISSIONS 712110 89013 89013 208274 276482 276482 1107097 506995 600102 600102 600102 737095 676958 60137 60137 60137 101820 375565 260765 -158945 -158945 173376 99352 74024 74024 COMMISSION INCOME 561990 49566 49566 MISC. INCOME 712110 11298 11298 60864 3570292 282298 0 838640 X 1005324 651546 244217 109561 1834250 1188770 445583 199897 216556 140349 52607 23600 219691 142381 53368 23942 20819 20819 55798 55798 170810 170810 38782 38782 704454 215765 487013 1676 120876 108788 12088 358035 231823 101349 24863 785307 549715 235592 70890 60257 10633 65433 55618 9815 6907 6907 491010 442663 48347 4264 2985 1279 EXHIBITIONS 473721 450035 23686 EDUCATION 78362 74444 3918 RECRUITMENT 59379 59379 DEVELOPMENT EXPENSE 35281 26461 8820 0 54126 45778 8348 6870075 4433067 1882659 554349 3058625 1375737 202517 104603 1640996 515442 87783 85445 20000 57796 40162 47606 51399 33651049 8845956 24710358 24805093 12329196 12549164 53273 50000 42188150 39597045 686645 430589 54587 82811 17410 758642 513400 X 13664676 11733149 27764832 27350496 41429508 39083645 42188150 39597045 -3299783 953920 0 X 0 1 X 1 0 X 1782409 2373869 4294982 3891243 2449354 14791857 1782409 2373869 4294982 3891243 2449354 14791857 4821249 9970608 831207 862620 1129560 867376 1383579 5074342 180067 89508 270379 427535 336060 1303549 21169748 1203397 0.47100 0.49980 X 0.49980 0.22930 SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INCOME FROM FUNDRAISING - 2020 AMOUNT: $ 140,828. 2021 AMOUNT: $ 82,042. 2022 AMOUNT: $ 101,250. 2023 AMOUNT: $ 174,231. 2024 AMOUNT: $ 101,820. LOAN FORGIVEN - 2022 AMOUNT: $ 125,000. OTHER INCOME - 2020 AMOUNT: $ 39,239. 2021 AMOUNT: $ 7,466. 2022 AMOUNT: $ 10,876. 2023 AMOUNT: $ 15,836. 2024 AMOUNT: $ 11,298. COMMISSION INCOME - 2022 AMOUNT: $ 33,253. 2023 AMOUNT: $ 47,494. 2024 AMOUNT: $ 49,566. SALE OF EDUCATIONAL MATERIALS - 2023 AMOUNT: $ 189,974. 2024 AMOUNT: $ 173,376. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 52045 50000 X 0 25522340 1304614 1041000 25785954 25079494 1942846 1500000 25522340 27385116 -455622 1850000 25079494 27003276 1953840 1572000 27385116 26729032 1974244 1700000 27003276 0.00000 1.00000 0.00000 0 0 3037092 3037092 12029272 17221505 8192177 21058600 855787 653779 202008 507393 507393 24805093 X 4861071 894024 382548 59896 1336468 3524603 38782 6907 45689 3570292 7206934 382548 382548 6824386 38782 6907 45689 6870075 PART X, LINE 2: THE MUSEUM RECEIVED ITS DETERMINATION LETTERS IN MARCH 1999 THAT IT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("IRC") AND SECTION 23701D OF THE CALIFORNIA TAX CODE. CONTRIBUTIONS TO THE MUSEUM ARE DEDUCTIBLE FOR TAX PURPOSES UNDER SECTION 170(C)(2) OF THE IRC. THE MUSEUM IS NOT A PRIVATE FOUNDATION. THE MUSEUM HAS EVALUATED ITS TAX POSITIONS AND THE CERTAINTY AS TO WHETHER THOSE POSITIONS WILL BE SUSTAINED IN THE EVENT OF ANY AUDIT BY TAXING AUTHORITIES AT THE FEDERAL AND STATE LEVELS. THE PRIMARY TAX POSITIONS EVALUATED RELATE TO THE MUSEUM'S CONTINUED QUALIFICATION AS A TAX-EXEMPT ORGANIZATION AND WHETHER THERE ARE UNRELATED BUSINESS INCOME ACTIVITIES THAT WOULD BE TAXABLE. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS WILL MORE LIKELY THAN NOT BE SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. THE MUSEUM IS SUBJECT TO POTENTIAL INCOME TAX AUDITS ON OPEN TAX YEARS BY ANY TAXING JURISDICTION IN WHICH IT OPERATES. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN ON APPRECIATION OF FIXED ASSETS 59,896. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 6,907. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 6,907. PART III LINE 1A ART COLLECTIONS PURCHASED BY OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE ART COLLECTION REPRESENTS THE ACQUISITIONS OF WORKS OF ART, WHETHER THROUGH GIFT OR BY PURCHASE, THAT IS HELD FOR EXHIBITION AND EDUCATIONAL PURPOSES. EACH OF THE ITEMS ARE CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTANCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTION IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR IN NET ASSETS WITH DONOR RESTRICTION IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. THE MUSEUM DID NOT RECEIVE ANY DONATED WORKS OF ART THAT IT ACCESSED INTO ITS PERMANENT COLLECTION DURING THE YEAR ENDED DECEMBER 31, 2024. PART V LINE 4 THE TRUST ENDOWMENT CONTRIBUTIONS ARE CONTINGENT ON THE MUSEUM REMAINING A CHARITABLE ORGANIZATION, CONTINUING TO BE A MUSEUM EXCLUSIVELY SHOWING LATIN AMERICAN AND CONTEMPORARY ART AND REMAINING OPEN TO THE PUBLIC AT LEAST 48 HOURS PER WEEK. THE CONTRIBUTIONS ARE FURTHER CONTINGENT UPON THE NAME OF THE MUSEUM STAYING THE SAME AND NOT INCLUDING ANY OTHER INDIVIDUAL OR CORPORATION IN THE NAME. THE MUSEUM WAS CLOSED DURING THE PANDEMIC AND IS CURRENTLY OPEN TO THE PUBLIC 34 HOURS PER WEEK. THE DONOR HAS AGREED TO THE REDUCED HOURS. THE TRUST'S BOARD OF DIRECTORS HAS AGREED THE ENDOWMENT IS TO BE HELD IN PERPETUITY AND INVESTED FOR THE PURPOSE OF PRODUCING INCOME TO BE EXPENDED FOR THE GENERAL OPERATIONS OF THE MUSEUM. THE MUSEUM'S ENDOWMENT FUNDS ARE INVESTED AND MANAGED ACCORDING TO THEIR INVESTMENTS AND SPENDING POLICIES. THESE POLICIES ATTEMPT TO PROVIDE A CONSISTENT RETURN ON ASSETS IN ORDER TO ACHIEVE A STABLE STREAM OF FUNDING FOR PROGRAMS SUPPORTED BY THE MUSEUM'S ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. AS A RESULT, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT, OVER THE LONGTERM, MEET OR EXCEED THE SPENDING POLICY RATE PLUS THE RATE OF INFLATION. PART III LINE 4 MOLAA IS THE PIONEERING MUSEUM IN THE UNITED STATES DEDICATED TO MODERN AND CONTEMPORARY LATIN AMERICAN AND LATINO ART. SINCE ITS INCEPTION, MOLAA HAS DOUBLED ITS SIZE AND ADDED A 15,000 SQ. FT. SCULPTURE GARDEN. ITS PERMANENT COLLECTION NOW NUMBERS OVER 1,300 WORKS OF ART. MOLAA EXPANDS KNOWLEDGE AND APPRECIATION OF MODERN AND CONTEMPORARY LATIN AMERICAN ART THROUGH ITS COLLECTION, GROUND-BREAKING EXHIBITIONS, STIMULATING EDUCATIONAL PROGRAMS, AND ENGAGING CULTURAL EVENTS. MOLAA'S PERMANENT COLLECTION WAS STARTED BY DR. ROBERT GUMBINER, AN INDIVIDUAL COMMITTED TO PROMOTING LATIN AMERICAN ART. IN 2014, MOLAA'S BOARD OF DIRECTORS APPROVED THE EXPANSION OF THE SCOPE OF THE MUSEUM'S MISSION TO ALSO INCLUDE LATINO ART. AS MOLAA EXPANDS ITS COLLECTION, IN DEPTH RESEARCH AND DOCUMENTATION OF THE ARTWORK CONTINUES TO PROVIDE A SOLID BASE FOR THE ACADEMIC VALUE OF THE COLLECTION. PRIVATE COLLECTIONS TURNED INTO MUSEUM COLLECTIONS REQUIRE ADEQUATE DOCUMENTATION THAT WILL ALSO PROVIDE THE NECESSARY INFORMATION TO IDENTIFY GROWTH OPPORTUNITIES FOR SAID COLLECTION. X X X X X X X 1 HURON CONSULTING SERVICES LLC PO BOX 71223 CHICAGO IL 606941223 GLOBAL CONSULTING SERVICES 0 0 170810 0 170810 CA GALA 477385 375565 101820 16025 244740 477385 375565 101820 16025 244740 260765 -158945 X X X 0 0 0 0 0 0 0 0 0 LOURDES RAMOS-RIVAS CEO 283250 0 50000 0 0 0 0 0 8000 0 341250 0 0 0 JENNIFER CARR VP OF DEVELOPMENT 175000 0 0 0 0 0 0 0 0 0 175000 0 0 0 GABRIELA URTIAGA CHIEF CURATOR 165000 0 0 0 0 0 0 0 4855 0 169855 0 0 0 DINA BARAKAT DIR. OF BANQUETS & SPECIAL EVENTS 115000 0 44963 0 0 0 0 0 0 0 159963 0 0 0 CEDRIC WOOLFORK CFO/COO 159256 0 0 0 0 0 0 0 0 0 159256 0 0 0 CEDRIC WOOLFORK CFO MEDICAL CARE FOR IMMEDIATE FAMILY X 20000 20000 0 1 1 20000 FORM 990, PART VI, SECTION B, LINE 11B A COMMITTEE OF THE BOARD REVIEWS THE RETURN BEFORE IT IS FILED. A COPY OF THE RETURN IS FORWARDED TO ALL MEMBERS OF THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C MOLAA HAS A CONFLICT OF INTEREST POLICY THAT COVERS ALL OFFICERS, DIRECTORS, AND EMPLOYEES (COVERED PERSONS). ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES MUST COMPLETE AN ANNUAL DISCLOSURE STATEMENT AND DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST WITH RESPECT TO ALL BUSINESS AND FAMILY RELATIONSHIPS. IF THE BOARD IDENTIFIES ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST, SUCH PERSONS ARE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION. THE POLICY DEFINES A "CONFLICT OF INTEREST", "BUSINESS RELATIONSHIP", "ENTITY", "FAMILY MEMBERS", AND "FINANCIAL INTEREST". THE PROCEDURES OUTLINED IN THE POLICY INCLUDE THE FOLLOWING: 1) DUTY TO DISCLOSE: ALL ACTUAL AND POTENTIAL CONFLICTS OF INTEREST WILL BE DISCLOSED BY EACH BOARD MEMBER TO THE MOLAA BOARD OF DIRECTORS (THE "BOARD"), OR WHENEVER AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST ARISES. THE DIRECTOR MUST NOTIFY THE BOARD OF ANY CHANGES OR ADDITIONS TO THE SUBMITTED INFORMATION DURING THE COURSE OF THE YEAR. DIRECTORS ARE ENCOURAGED TO DISCLOSE A RELATIONSHIP IF THERE IS ANY POTENTIAL OR ACTUAL CONFLICT OF INTEREST IN CONNECTION WITH AN APPLICABLE PROPOSED TRANSACTION OR ARRANGEMENT. MEMBERS OF MOLAA'S BOARD, COMMITTEES, AND STAFF WILL NOT DERIVE ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF HIS OR HER PARTICIPATION AT MOLAA. EACH INDIVIDUAL WILL DISCLOSE TO MOLAA ANY PERSONAL INTEREST WHICH HE OR SHE MAY HAVE IN ANY MATTER PENDING BEFORE MOLAA AND WILL REFRAIN FROM PARTICIPATION IN ANY DECISION ON SUCH MATTER. ANY MEMBER OF THE MUSEUM OF LATIN AMERICAN ART'S BOARD, COMMITTEES, AND STAFF WILL REFRAIN FROM OBTAINING ANY LIST OF MOLAA MEMBERS OR SPONSORS FOR PERSONAL OR PRIVATE SOLICITATION PURPOSES AT ANY TIME DURING THE TERM OF THEIR AFFILIATION. 2) DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS: THE BOARD WILL EVALUATE THE SUBMITTED ANNUAL CONFLICT OF INTEREST POLICIES AND DETERMINE WHETHER THE DISCLOSED INFORMATION RAISES A CONFLICT OF INTEREST. IF THE BOARD BELIEVES THAT A PARTICULAR TRANSACTION OR ARRANGEMENT MAY REPRESENT A CONFLICT OF INTEREST, IT MAY REQUEST ADDITIONAL INFORMATION FROM THOSE PERSONS DETAILING THE NATURE OF THE TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THOSE PERSONS, THE BOARD SHALL DETERMINE WHETHER A PARTICULAR TRANSACTION OR ARRANGEMENT CONSTITUTES A CONFLICT OF INTEREST WITHOUT THE PRESENCE OR PARTICIPATION OF THE AFFECTED PERSON. A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD WILL DECIDE IF A PARTICULAR RELATIONSHIP OR TRANSACTION REPRESENTS A CONFLICT OF INTEREST. 3) PROCEDURES FOR ADDRESSING THE CONFLICT OF INTEREST: IF THE BOARD DETERMINES THAT A PARTICULAR RELATIONSHIP OR TRANSACTION REPRESENTS AN ACTUAL, APPARENT, OR POTENTIAL CONFLICT OF INTEREST, THE BOARD WILL RESOLVE THE MATTER IN ONE OF THE FOLLOWING MANNERS: WAIVE THE ACTUAL, POTENTIAL, OR APPARENT CONFLICT AS UNLIKELY TO AFFECT THE DIRECTOR'S ABILITY TO ACT IN THE BEST INTERESTS OF MOLAA; DETERMINE THAT THE DIRECTOR SHOULD BE RECUSED FROM ALL DELIBERATIONS AND DECISION-MAKING RELATED TO THE PARTICULAR TRANSACTION (BOTH AT THE OUTSET AND ON AN ONGOING BASIS) WHICH GIVES RISE TO THE ACTUAL, POTENTIAL, OR APPARENT CONFLICT; DETERMINE THAT THE DIRECTOR MUST RESIGN FROM HIS/HER SERVICE TO MOLAA BECAUSE THE ACTUAL, POTENTIAL, OR APPARENT CONFLICT IS SO PERVASIVE THAT THE DIRECTOR WOULD SELDOM, IF EVER, LIKELY BE ABLE TO ACT IN THE BEST INTERESTS OF MOLAA. THE MOLAA BOARD WILL HAVE FINAL AUTHORITY OVER THE RESOLUTION OF ALL CONFLICT OF INTEREST MATTERS. 4) VIOLATION OF THE CONFLICT OF INTEREST POLICY: IF THE BOARD BELIEVES THAT THE DIRECTOR HAS NOT DISCLOSED A CONFLICT OF INTEREST, IT WILL INFORM THE DIRECTOR OF THE BASIS FOR SUCH BELIEF AND ASK THE DIRECTOR TO PROVIDE CLARIFICATION. VIOLATION OF THIS POLICY MAY RESULT IN DISCIPLINE AND/OR CORRECTIVE ACTION, UP TO AND INCLUDING TERMINATION OF EMPLOYMENT OR SEPARATION FROM APPLICABLE BOARD OR COMMITTEE SERVICE. FORM 990, PART VI, SECTION B, LINE 15 MOLAA'S BOARD OF DIRECTORS HAS A PROCESS FOR REVIEWING AND APPROVING THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES ON A REGULAR BASIS TO DETERMINE IT IS FAIR AND REASONABLE WITH THE GOAL OF RETAINING EMPLOYEES AT COMPENSATION LEVELS WITHIN APPROPRIATE MARKET RANGE. THE PROCESS FOR DETERMINING THE COMPENSATION PAID TO THE CEO, OFFICERS, AND KEY EMPLOYEES INCLUDES THE APPROVAL OF THE COMPENSATION ARRANGEMENT IN ADVANCE, BY THE BOARD OF DIRECTORS, WITH ALL PERSONS WITH A CONFLICT OF INTEREST ABSTAINING FROM THE BOARD'S DELIBERATION AND DISCUSSION. THE BOARD REVIEWS DATA OF COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED NONPROFIT EXECUTIVES AT SIMILARLY SITUATED ENTITIES. THE DOCUMENTATION OF THE BOARD INCLUDES THE TERMS OF THE TRANSACTION AND THE DATE OF APPROVAL, THE MEMBERS WHO WERE PRESENT DURING THE DEBATE AND VOTE ON THE TRANSACTION, A DESCRIPTION OF THE COMPARABLE DATA AND HOW IT WAS OBTAINED, AND DOCUMENTATION OF THE BASIS FOR ITS DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAIBLE TO THE PUBLIC UPON REQUEST. HOWEVER, CURRENT TAX LAW DOES NOT REQUIRE THESE DOCUMENTS TO BE MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 205,801. MANAGEMENT AND GENERAL EXPENSES 402,728. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 608,529. PAYROLL FEES: PROGRAM SERVICE EXPENSES 9,964. MANAGEMENT AND GENERAL EXPENSES 3,735. FUNDRAISING EXPENSES 1,676. TOTAL EXPENSES 15,375. PROFESSIONAL SERVICE FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 80,550. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 80,550.