2014-05-15T09:37:54-05:00 2013-06-30 420714325 MCGLADREY LLP 100 INTERNATIONAL DRIVE SUITE 1400 BALTIMORE MD 21202 990 2012-07-01 526000162 BALTIMORE MUSEUM OF ART BALT 4435731839 10 ART MUSEUM DRIVE BALTIMORE MD 21218 DOREEN BOLGER 4435731711 2014-05-15 1 JAMES P SWEENEY CPA P01263012 4102469300 2012 2015-11-30 17:44:51Z DOREEN BOLGER 10 ART MUSEUM DRIVE BALTIMORE MD 21218 27543692 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. 35 35 237 165 84225 -800 10106295 16777799 832859 623054 3577675 3556667 439316 273895 14956145 21231415 0 0 0 0 8286665 8217448 72000 72000 1403145 7544966 10069054 15903631 18358502 -947486 2872913 91526824 101922740 14489062 14148065 77037762 87774675 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 8605120 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. THE MUSEUM HAS ALSO REGULARLY UPGRADED ITS MECHANICAL AND ELECTRICAL SYSTEMS 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 40 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. 4167289 582659 COLLECTION CARE & EXHIBITIONSCARE OF THE BMA'S OUTSTANDING COLLECTION OF 90,000+ 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 DEGREES +/- 2 DEGREES 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 2013, EXHIBITIONS AND EDUCATION AND INTERPRETATION ACTIVITIES WERE LIMITED BY THE CLOSURE OF 60% OF THE INSTITUTION'S SPACES, INCLUDING THE PRINCIPAL EXHIBITION GALLERIES, DUE TO A COMPREHENSIVE, MULTI-YEAR FACILITY RENOVATION THAT WILL BE COMPLETED IN 2015. THE NOVEMBER 2012 RE-OPENING OF THE CONTEMPORARY WING OFFERED AN OPPORTUNITY TO REINTERPRET THE BMA'S HOLDINGS IN 19 RENOVATED GALLERIES (13,000 SQ.FT.) AND TO PRESENT A SERIES OF FOCUS EXHIBITIONS ON LIVING ARTISTS, IN BALTIMORE AND BEYOND: "FRONT ROOM: ZWELETHU MTHETHWA" (NOVEMBER 18, 2012-FEBRUARY 10, 2013); "BLACK BOX: ALLORA & CALZADILLA" (NOVEMBER 18, 2012-FEBRUARY 3, 2013); "GAIA" (NOVEMBER 18, 2012-MAY 5, 2013); "FRONT ROOM: SURREAL SELVES" (FEBRUARY 20-JULY 7, 2013); "ON PAPER: WORKS FROM THE COHEN COLLECTION" (FEBRUARY 13-AUGUST 25, 2013); "BLACK BOX: RAQS MEDIA COLLECTIVE" (FEBRUARY-JULY 2013). "THE BAKER ARTIST AWARD WINNERS 2012" (SEPTEMBER 5-OCTOBER 7, 2012) CONTINUED A FOUR-YEAR PARTNERSHIP WITH THE WILLIAM G. BAKER, JR. MEMORIAL FUND TO FEATURE LEADING ARTISTS IN THE COMMUNITY. TWO EXHIBITIONS WERE DRAWN ALMOST EXCLUSIVELY FROM THE COLLECTION, SUCH AS "MATISSE'S DANCERS" (NOVEMBER 14, 2012-FEBRUARY 24, 2013); AND "ON PAPER: DRAWINGS FROM THE THOMAS E. BENESCH MEMORIAL COLLECTION" (NOVEMBER 18, 2012-FEBRUARY 10, 2013). "MAX WEBER: BRINGING PARIS TO NEW YORK" (MARCH 3-JUNE 23, 2013) CONTINUED THE MUSEUM'S PRACTICE OF EXPLORING HENRI MATISSE AND HIS INFLUENCE ON 20TH-CENTURY MODERNISM. "COLLECTING MATISSE AND MODERN MASTERS: THE CONE SISTERS OF BALTIMORE" CIRCULATED TO THE NASHER MUSEUM OF ART AT DUKE UNIVERSITY, DURHAM, NORTH CAROLINA (NOVEMBER 3, 2012-FEBRUARY 10, 2013). AN IMPORTANT COMPONENT OF COMMUNITY OUTREACH, STUDENT ART FROM BALTIMORE CITY PUBLIC SCHOOLS AND BALTIMORE COUNTY PUBLIC SCHOOLS WAS DISPLAYED FROM MAY 1-12, 2013 TO THE DELIGHT OF STUDENTS AND FAMILIES, AS WELL AS THE 5,263 VISITORS TO THE EXHIBITIONS. 2607424 40395 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 NUMBERED 205,404 IN FY2013. 11,980 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. 15379833 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 57 0 1 237 1 1 1 0 0 0 0 1 1 0 0 0 0 X 35 35 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 1.00 X X 0 0 0 STILES TUTTLE COLWILL 1.00 X X 0 0 0 JAMES D THORNTON 1.00 X X 0 0 0 ALEXANDER C BAER 1.00 X X 0 0 0 BEVERLY BENTLEY CARROLL 1.00 X X 0 0 0 LYNN DEERING 1.00 X 0 0 0 NANCY DORMAN 1.00 X 0 0 0 SANDRA LEVI GERSTUNG 1.00 X 0 0 0 CHARLES W NEWHALL III 1.00 X 0 0 0 FREDERICA K SAXON 1.00 X 0 0 0 CLAIR ZAMOISKI SEGAL 1.00 X 0 0 0 VIRGINIA ADAMS 1.00 X 0 0 0 WILLIAM BACKSTROM 1.00 X 0 0 0 LEROY COMEGYS 1.00 X 0 0 0 GWEN DAVIDSON 1.00 X 0 0 0 LAURENCE J EISENSTEIN 1.00 X 0 0 0 AMY L GOULD 1.00 X 0 0 0 PRISCILLA HOBLITZELL 1.00 X 0 0 0 CONNIE IMBODEN 1.00 X 0 0 0 TONYA INGERSOL 1.00 X 0 0 0 PATRICIA H JOSEPH 1.00 X 0 0 0 SUSAN B KATZENBERG 1.00 X 0 0 0 FREDERICK SINGLEY KOONTZ 1.00 X 0 0 0 MADELINE E LACOVARA 1.00 X 0 0 0 KEITH A LEE 1.00 X 0 0 0 RICHARD F LINDSTROM 1.00 X 0 0 0 CAROL MACHT 1.00 X 0 0 0 JENNIFER O'HARA MARTIN 1.00 X 0 0 0 ROBERT J MATHIAS 1.00 X 0 0 0 AMY FRENKIL MEADOWS 1.00 X 0 0 0 MICHAEL MERSON 1.00 X 0 0 0 PHYLLIS MEYERHOFF 1.00 X 0 0 0 DONALD J PETERS 1.00 X 0 0 0 MICHAEL ROSENBAUM 1.00 X 0 0 0 HENRY L THAGGERT 1.00 X 0 0 0 DOREEN BOLGER STAFF 40.00 X 277414 0 80056 CHRISTINE DIETZE BONANNO STAFF 40.00 X 121562 0 28542 ALAN DIRICAN STAFF 40.00 X 133599 0 36905 JUDITH GIBBS STAFF 40.00 X 147359 0 20507 BECCA SEITZ STAFF 40.00 X 115079 0 32340 ANNE MANNING STAFF 40.00 X 106809 0 25953 JAY FISHER 40.00 X 106224 0 19441 1008046 0 243744 7 0 1 0 LEWIS CONTRACTORS 55 GWYNNS MILL COURT OWINGS MILLS MD 21117 CONSTRUCTION CONTRACTOR 2921042 ZIGER SNEAD LLP ARCHITECTS 1006 MORTON STREET BALTIMORE MD 21201 ARCHITECT 641682 MARSHALL CRAFT ASSOCIATES INC 6112 YORK ROAD BALTIMORE MD 21212 ARCHITECT 249199 SYNTHESIS 9175 GUILFORD ROAD COLUMBIA MD 21046 OWNER'S REP. 170045 4 X 441134 5377978 10958687 1199112 16777799 TRAVELING EXHIBITS 900099 427150 427150 PROGRAM REVENUE 900099 159602 159602 EDUCATION & GROUP TOUR 900099 36302 36302 623054 1867602 10 1867592 112658 0 112658 112658 112658 7344865 5655800 1689065 1689065 1689065 672317 656477 15840 84215 -68375 PARKING REVENUE 900099 135836 135836 DEACCESSIONS 900099 9561 9561 145397 21231415 623054 84225 3746337 397761 87817 213694 96250 5723034 4745018 295985 682031 1642691 1345432 180426 116833 453962 368951 39486 45525 104234 58199 46035 35772 15712 20060 59000 59000 18000 18000 72000 72000 317589 317589 196421 116631 79790 357701 242536 51888 63277 88697 88697 5457317 5457317 25994 19902 2936 3156 36561 27013 5022 4526 110041 83274 26767 514494 423807 41315 49372 192600 192600 EXHIBITION AND COLLECTI 1260713 1260713 ACCESSIONS 706006 706006 MISCELLANEOUS 427262 255430 54249 117583 EDUCATIONAL & ARTISTIC 160652 160652 18358502 15379833 1575524 1403145 697324 1003803 1245486 1507299 6900666 5812291 192790 355126 302763 256320 10700606 2009358 11244087 8691248 33238265 34044045 36684742 48992466 1020701 1260142 91526824 101922740 2715278 1158508 212898 628570 5823662 6326301 4500000 4950000 1237224 1084686 14489062 14148065 X 25796135 27492490 23570556 27209175 27671071 33073010 77037762 87774675 91526824 101922740 X 2872913 7757067 106933 X 0 1 X 1 0 X 9878320 9337867 9162568 10106295 16777799 55262849 9878320 9337867 9162568 10106295 16777799 55262849 4144343 51118506 1610872 1752679 1869373 1821839 1980260 9035023 191614 167763 183450 307139 145397 995363 65293235 7120787 0.78290 0.85600 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 1 25 0 0 1 119 0 1 40106 40250 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: IN FY13, 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, A ANNUAL RALLY IN SUPPORT OF ARTS FUNDING ORGANIZED BY MARYLAND CITIZENS FOR THE ARTS, A NONPROFIT ORGANIZATION. X X X X 0 66172610 6199022 10213356 3464023 79120965 66447969 1780257 595338 2650954 66172610 55430515 2802971 13027060 4812577 66447969 50164119 1614896 7141615 3490115 55430515 65413240 1672733 -14353665 2568189 50164119 0.32670 0.39920 0.27410 0 0 472266 472266 7160202 1047324 6112878 1993251 266225 1727026 1074887 695809 379078 8691248 HEDGE FUNDS OF FUNDS 745652 F ISHARES RUSSELL 1000 GROWTH (IWF) 6061571 F METROPOLITAN WEST FDS TOTAL RETURN BD FD CL I (MWTIX) 7838854 F PRIVATE EQUITY FUNDS 3338448 F SPDR S&P 500 ETF TRUST (SPY) 12793817 F SPDR S&P DIVIDEND (SDY) 6144420 F TWEEDY BROWNE FUND INC. GLOBAL VALUE FUND (TBGVX) 6684218 F ISHARES MSCI ACWX EX US (ACWS) 5385486 F 48992466 PAYABLES UNDER SPLIT INTEREST AGREEMENT 926186 INTEREST RATE SWAP 158500 1084686 X 29327370 7757067 7757067 21570303 317589 -656477 -338888 21231415 18590457 549544 549544 18040913 317589 317589 18358502 PART III, LINE 1A: THE MUSEUM'S PERMANENT COLLECTION CONSISTS OF OVER 90,000 OBJECTS. THE VALUE OF THE MUSEUM'S COLLECTION OF ART OBJECTS ARE NOT CAPITALIZED AND HAVE 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 90,000 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2010. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF COST OF GOODS SOLD -656,477. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASSIFICATION OF COST OF GOODS SOLD 656,477. GAIN ON INTEREST RATE SWAP -106,933. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1642261 0 0 0 0 0 0 1642261 0 1642261 1 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 273472 0 0 0 3942 0 62450 0 17606 0 357470 0 0 0 CHRISTINE DIETZE BONANNO STAFF 121562 0 0 0 0 0 7905 0 20637 0 150104 0 0 0 ALAN DIRICAN STAFF 133599 0 0 0 0 0 8852 0 28053 0 170504 0 0 0 JUDITH GIBBS STAFF 147359 0 0 0 0 0 9440 0 11067 0 167866 0 0 0 SUPPLEMENTAL INFORMATION PART III 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, 2013. OTHER SPENT PROCEEDS IS THE AMOUNT OF THE BOND ISSUE USED TO REFUND THE 2006 ISSUE. X 547 EXCLUDED UNDER SFAS 116 X 36 1199112 FMV 0 1 1 THIRD PARTY USE: 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. NON REPORTING OF REVENUE: PART I, LINE 33: THE MUSEUM'S PERMANENT COLLECTION CONSISTS OF OVER 90,000 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. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 106,933.