2014-05-15T09:52:07-05:00 2013-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2012-07-01 410693915 MINNEAPOLIS SOCIETY OF FINE ARTS DBA MINNEAPOLIS INSTITUTE OF ARTS MINN 6128703000 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 PATRICIA GRAZZINI 6128703000 2014-05-13 1 LARRY ADAMS P01314654 6123764500 2012 2015-11-30 17:44:51Z MINNEAPOLIS INSTITUTE OF ARTS KAYWIN FELDMAN 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 107811051 0 X WWW.ARTSMIA.ORG X 1883 MN ENRICH THE COMMUNITY BY COLLECT- ING, PRESERVING, AND MAKING ACCESSIBLE OUTSTANDING WORKS OF ART. 55 49 369 545 1114389 957477 23265538 26362644 1606058 4119262 8279113 7626495 271614 505227 33422323 38613628 0 0 0 0 16332878 16799833 8750 1575 1539034 16547158 22867779 32888786 39669187 533537 -1055559 285084516 299361210 14033307 15645705 271051209 283715505 X THE MINNEAPOLIS INSTITUTE OF ARTS (MIA) ENRICHES THE COMMUNITY BY COLLECTING, PRESERVING, AND MAKING ACCESSIBLE OUTSTANDING WORKS OF ART FROM THE WORLD'S DIVERSE CULTURES. 0 0 16147043 0 2360275 EXHIBITIONS:EXHIBITIONS BRING NEW INSIGHTS TO ART. OUR GALLERIES ARE FILLED WITH A DIVERSE AND RICH SPECTRUM OF EXHIBITIONS, PRODUCED FROM EITHER ORIGINAL SCHOLARSHIP OR THROUGH PARTNERSHIPS WITH OTHER LEADING ART MUSEUMS. MIA PRODUCED 31 EXHIBITIONS AND 2 PUBLICATIONS DURING THE PAST YEAR. 9150325 0 230647 ACQUISITIONS:ACQUISITIONS BRING NEW STRENGTH TO THE COLLECTION. THE PERMANENT COLLECTION IS ALWAYS AT THE CORE OF OUR WORK. IN THE YEAR ENDED JUNE 30, 2013, 2,120 SUPERB OBJECTS WERE ACQUIRED ENRICHING EACH OF THE SEVEN CURATORIAL COLLECTING AREAS. 2927316 0 183400 OUTREACH AND EDUCATION:WITH A STRONG COMMITMENT TO OUTREACH AND EDUCATION, THE MIA COMPLEMENTS ITS COLLECTION AND EXHIBITIONS WITH A WIDE ARRAY OF PUBLIC PROGRAMS WHICH INCLUDE POPULAR YOUTH AND FAMILY PROGRAMS, STUDENT AND ADULT CLASSES, SEMINARS, LECTURES, DEMONSTRATIONS, CONCERTS, AND FILMS. THROUGH THE MUSEUMS COMPREHENSIVE SCHOOL SERVICES PROGRAM, EDUCATORS AND COMMUNITY VOLUNTEERS BROUGHT ART INTO THE LIVES OF STUDENTS, THROUGH BOTH CLASSROOM AND MUSEUM VISITS. 4681085 0 1344940 A CULTURAL HIGHLIGHT OF THE TWIN CITIES, THE MINNEAPOLIS INSTITUTE OF ARTS (MIA) IS INTERNATIONALLY RENOWNED AS ONE OF THE GREAT ENCYCLOPEDIC FINE ART MUSEUMS. IN A BEAUTIFUL LANDMARK STRUCTURE NEAR DOWNTOWN MINNEAPOLIS, THE MUSEUM HOUSES A WORLD-CLASS COLLECTION OF MORE THAN 80,000 WORKS OF ART, REPRESENTING ARTISTIC TRADITIONS AND TREASURES SPANNING 5,000 YEARS. THE MIA, WITH ITS FREE ADMISSIONS POLICY, IS AN INVALUABLE RESOURCE TO THE COMMUNITY, WELCOMING VISITORS OF ALL AGES TO ENJOY THE WONDER AND BEAUTY OF ART.DURING THE 2013 FISCAL YEAR, 679,753 PEOPLE VISITED THE MIA, WITH AN ADDITIONAL 1.5 MILLION VIRTUAL VISITORS EXPLORING THE MUSEUM'S COLLECTIONS AND EXHIBITIONS VIA ITS AWARD-WINNING WEB SITES, WWW.ARTSMIA.ORG AND WWW.ARTSCONNECTED.ORG, AND AN ADDITIONAL 10.2 MILLION IMPRESSIONS ON THE MIA'S SOCIAL MEDIA SITES, INCLUDING FACEBOOK, TWITTER, YOUTUBE, FOURSQUARE, INSTAGRAM, AND FLICKR. THE MIA HAD OVER 24,000 MEMBER HOUSEHOLDS DURING THE FISCAL YEAR.WITH A STRONG COMMITMENT TO OUTREACH AND EDUCATION, THE MIA COMPLEMENTS ITS COLLECTION AND EXHIBITIONS WITH A WIDE ARRAY OF PUBLIC PROGRAMS, CLASSES, LECTURES, AND SPECIAL EVENTS. THROUGH THE MIA'S COMPREHENSIVE SCHOOL SERVICES PROGRAM, EDUCATORS AND COMMUNITY VOLUNTEERS DURING FISCAL YEAR 2013 BROUGHT ART INTO THE LIVES OF NEARLY 180,000 STUDENTS, THROUGH BOTH CLASSROOM AND MUSEUM VISITS. 4681085 1344940 32905769 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 0 0 0 1 179 0 369 1 1 1 0 0 0 0 1 1 0 0 0 0 X 55 49 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X KRIS DAVIDSON 6128703064 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 KAYWIN FELDMAN 40.00 X X 404745 0 58587 SHARI BALLARD 1.00 X 0 0 0 GARY BHOJWANI 1.00 X 0 0 0 MAURICE BLANKS 1.00 X 0 0 0 BLYTHE BRENDEN 1.00 X 0 0 0 KITTY CROSBY 1.00 X 0 0 0 LUCY CROSBY MITCHELL 1.00 X 0 0 0 RICHARD DAVIS 1.00 X 0 0 0 ERIC DAYTON 1.00 X 0 0 0 JANE EMISON 1.00 X 0 0 0 NANCY ENGH 1.00 X 0 0 0 MICHAEL FERNANDEZ 1.00 X 0 0 0 GAYLE FUGUITT 1.00 X 0 0 0 PAUL GRANGAARD 1.00 X 0 0 0 JOHN HIMLE 1.00 X 0 0 0 JOHN HUSS 1.00 X 0 0 0 MARY INGEBRAND POHLAD 1.00 X 0 0 0 HUBERT JOLY 1.00 X 0 0 0 ERIC LEVINSON 1.00 X 0 0 0 DIANE LILLY 1.00 X 0 0 0 JOHN LINDAHL 1.00 X 0 0 0 REID MACDONALD 1.00 X 0 0 0 BETTY MACMILLAN 1.00 X 0 0 0 NIVIN MACMILLAN 1.00 X 0 0 0 BRENT MAGID 1.00 X 0 0 0 AL MCQUINN 1.00 X 0 0 0 LENI MOORE 1.00 X 0 0 0 SHEILA MORGAN 1.00 X 0 0 0 ROBERT W NELSON 1.00 X 0 0 0 MARY OLSON 1.00 X 0 0 0 MIKE OTT 1.00 X 0 0 0 LINDA PERLMAN 1.00 X 0 0 0 JOHN PRINCE 1.00 X 0 0 0 ABIGAIL ROSE 1.00 X 0 0 0 MARIANNE SHORT 1.00 X 0 0 0 ROGER SIT 1.00 X 0 0 0 MIKE SNOW 1.00 X 0 0 0 ROBERT STEPHENS 1.00 X 0 0 0 RALPH STRANGIS 1.00 X 0 0 0 JOHN E ANDUS III 1.00 X 0 0 0 MARVIN BORMAN 1.00 X 0 0 0 SANDRA K BUTLER 1.00 X 0 0 0 BURTON COHEN 1.00 X 0 0 0 BRUCE B DAYTON 1.00 X 0 0 0 JOHN DRISCOLL 1.00 X 0 0 0 BEVERLY GROSSMAN 1.00 X 0 0 0 ALFRED HARRISON 1.00 X 0 0 0 MYRON KUNIN 1.00 X 0 0 0 DAVID M LEBEDOFF 1.00 X 0 0 0 CLINTON MORRISON 1.00 X 0 0 0 BOB ULRICH 1.00 X 0 0 0 GOVERNOR MARK DAYTON 1.00 X 0 0 0 MAYOR RT RYBAK 1.00 X 0 0 0 SENATOR SCOTT DIBBLE 1.00 X 0 0 0 REP PAUL THISSEN 1.00 X 0 0 0 REP KURT ZELLERS 1.00 X 0 0 0 COMMISSIONER MIKE OPAT 1.00 X 0 0 0 COMMISSIONER ANITA TABB 1.00 X 0 0 0 CAROLYN DAHL 1.00 X 0 0 0 MICHELE CALLAHAN 40.00 X 79144 0 11963 PATRICIA GRAZZINI 40.00 X 290228 0 41381 ELIZABETH ARMSTRONG 40.00 X 184261 0 21630 MATTHEW WELCH 40.00 X 199939 0 15899 DOUGLAS HEGLEY 40.00 X 194250 0 22343 JULIANNE AMENDOLA 40.00 X 146612 0 13014 PATRICK NOON 40.00 X 168230 0 16881 THOMAS RASSIEUR 40.00 X 143314 0 12873 EIKE SCHMIDT 40.00 X 144967 0 15737 YANG LIU 40.00 X 147529 0 31304 EVAN MAURER 40.00 X 60000 0 0 2163219 0 261612 15 1 1 0 DON HARSTAD COMPANY INC 7103 HIGHWAY 65 EAST MINNEAPOLIS MN 55432 PARKING CONTROL INSTALLATION 367604 MASTERPIECE INTERNATIONAL 39 BROADWAY SUITE 1410 NEW YORK NY 10006 SHIPPING/FREIGHT SERVICES 348865 SIT INVESTMENT ASSOCIATES 90 S SEVENTH ST SUITE 4600 MINNEAPOLIS MN 55402 INVESTMENT MANAGEMENT 213197 MONTICELLO ASSOCIATES 1800 LARIMER ST SUITE 2100 DENVER CO 80202 INVESTMENT ADVISOR 150000 METRO ELEVATOR 1721 MAIN ST HOPKINS MN 55343 ELEVATOR UPGRADES 139283 35 1867869 502142 11462683 12529950 707347 26362644 PROGRAM ADMISSIONS/FEES 900099 2360275 2360275 RENTALS/REIMBURSEMENTS 532000 930592 914912 15680 PARKING 812930 367709 367709 DEACCESSIONS 900099 230647 230647 CLASSES AND PROGRAMS 900099 183400 183400 46639 46639 4119262 5005439 1098709 3906730 71043385 68422329 2621056 2621056 2621056 154351 502142 221975 -67624 -67624 1125970 553119 572851 572851 38613628 4103582 1114389 7033013 1322768 611030 591987 119751 60000 60000 12206065 10607858 707859 890348 636773 369635 233548 33590 1619818 1297883 203313 118622 954409 787003 95683 71723 249351 34096 215255 130938 130938 42500 42500 1575 1575 1428073 1428073 2460633 2091206 301346 68081 632087 597383 26296 8408 1469669 1347383 73925 48361 316825 103195 208804 4826 2460325 2275204 163598 21523 526859 390287 132260 4312 39272 6952 31980 340 79860 79860 2864176 2702892 146860 14424 632504 401848 230656 ACCESSIONS 8424612 8424612 SHIPPING, CRATINGS, PAC 729408 718416 10992 DUES AND SUBSSCRIPTIONS 157157 75643 76263 5251 UBI TAXES 127899 127899 95631 63243 32388 39669187 32905769 5224384 1539034 9550 12950 18028301 23343643 4979605 4237315 9171472 9234519 319529 298515 328178 258483 111910951 41840949 71223093 70070002 43979946 58772924 81717326 75164765 55327516 57968094 285084516 299361210 4131518 6651110 5835729 5598500 2901249 2284375 1164811 1111720 14033307 15645705 X 97708598 101312634 42916965 44930195 130425646 137472676 271051209 283715505 285084516 299361210 X -1055559 13893436 -173581 X 0 1 X 1 1 1 X 11615500 15175971 12526148 11769426 16030423 67117468 12022040 12400267 12184216 11496112 10694913 58797548 23637540 27576238 24710364 23265538 26725336 125915016 125915016 7600499 6206712 5236913 5962433 5005439 30011996 -356764 97911 1653 -257200 155669812 11853623 0.80890 0.78970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 1 42500 0 0 42500 0 PART IV, SUPPLEMENTAL INFORMATION: THE LOBBYIST AND CONSULTANTS RETAINED BY THE MIA PROVIDE GENERAL COUNSEL REGARDING COMMUNITY, GOVERNMENT, AND NONPROFIT ISSUES. THE CONSULTANTS DID NOT LOBBY ON BEHALF OF THE MIA. X X X X 0 115823294 4234105 15070104 6171697 128955806 119266897 1191766 1127066 5762435 115823294 102589837 3879722 18027577 5230239 119266897 94076848 3736682 10077263 5300956 102589837 112280196 1074751 -13888032 5390067 94076848 0.19080 0.60410 0.20510 0 0 9120069 9120069 91899651 32974425 58925226 10298916 8866524 1432392 592315 592315 70070002 HEDGED EQUITY FUNDS 21638514 F SEMPER VIC PARTNERS 26776914 F INTERNATIONAL EQUITY 26749337 F 75164765 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 57968094 57968094 AMOUNTS DUE TO BENEFICIARIES 1111720 1111720 X 52019150 13893436 362692 577467 14833595 37185555 1428073 1428073 38613628 39354854 362692 751048 1113740 38241114 1428073 1428073 39669187 PART III, LINE 1A: PER THE STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 116, THE MIA HAS ELECTED THE OPTION TO NOT CAPITALIZE WORKS OF ART WHEN ACQUIRED THROUGH PURCHASE OR GIFT. IN MAKING THIS ELECTION, THE MIA CERTIFIES THAT ITS COLLECTIONS: -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 AN ORGANIZATIONAL POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS. WORKS OF ART THAT ARE ACQUIRED ARE NOT INCLUDED AS ASSETS IN THE STATEMENTS OF FINANCIAL POSITION. THE COST OF WORKS OF ART PURCHASED OR THE MARKET VALUE OF WORKS OF ART RECEIVED AS GIFTS IS NOT CAPITALIZED WHEN ACQUIRED. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: NAMED ENDOWMENT FUNDS ESTABLISHED BY DONORS TO THE MIA PROVIDE AN ONGOING SOURCE OF INCOME FOR MUSEUM PROGRAMS AND ACQUISITION OF ART FOR THE MIA'S PERMANENT COLLECTION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE MIA QUALIFIES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. INCOME TAXES FOR UNRELATED BUSINESS INCOME ACTIVITIES ARE ACCRUED AND INCLUDED IN THE STATEMENT OF ACTIVITIES IN THE YEAR INCURRED. THE MIA'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE OR BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE THAN LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. THE MIA HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OR TAX EXPENSE OR BENEFIT. THE MIA'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2010 THROUGH 2012 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 221,975. COST OF GOODS SOLD AND FREIGHT IN - MUSEUM SHOP 553,119. DIFFERENCE IN DRAW - TRUSTS -24,046. LOSS ON BENEFICIARY AGREEMENTS -173,581. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AND FREIGHT IN - MUSEUM SHOP 553,119. SPECIAL EVENTS EXPENSES 221,975. DIFFERENCE IN DRAW - TRUSTS -24,046. REMBRANT GALA & SILENT AUCTION 610982 497537 113445 7459 66739 40000 82102 PRINTS & DRAWINGS FAIR 45511 4605 40906 4271 13945 600 6859 656493 502142 154351 11730 80684 40600 88961 221975 -67624 X X 1 1 X X X X X X 0 1 0 0 0 0 0 0 0 KAYWIN FELDMAN 382500 0 0 0 22245 0 52216 0 6371 0 463332 0 0 0 PATRICIA GRAZZINI 289187 0 0 0 1041 0 28551 0 12830 0 331609 0 0 0 ELIZABETH ARMSTRONG 183600 0 0 0 661 0 9180 0 12450 0 205891 0 0 0 MATTHEW WELCH 199223 0 0 0 716 0 9961 0 5938 0 215838 0 0 0 DOUGLAS HEGLEY 194250 0 0 0 0 0 0 0 22343 0 216593 0 0 0 JULIANNE AMENDOLA 145423 0 0 0 1189 0 7271 0 5743 0 159626 0 0 0 PATRICK NOON 168230 0 0 0 0 0 8412 0 8469 0 185111 0 0 0 THOMAS RASSIEUR 142800 0 0 0 514 0 7140 0 5733 0 156187 0 0 0 EIKE SCHMIDT 142800 0 0 0 2167 0 7140 0 8597 0 160704 0 0 0 YANG LIU 147000 0 0 0 529 0 0 0 31304 0 178833 0 0 0 EVAN MAURER 0 0 0 0 60000 0 0 0 0 0 60000 0 0 0 PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: COMPUTER ALLOWANCE THE MIA PROVIDES A MONTHLY ALLOWANCE TO CERTAIN EMPLOYEES FOR THE PURCHASE AND BUSINESS USE OF PERSONALLY OWNED IPADS. THE PURCHASE AMOUNT IS GROSSED UP FOR TAX PURPOSES AND TREATED AS TAXABLE COMPENSATION ON THE EMPLOYEES FORM W-2. LISTED EMPLOYEES RECEIVING THIS ALLOWANCE PAYMENT INCLUDE: -DIRECTOR OF ADVANCEMENT -DIRECTOR OF LEARNING AND INNOVATION HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: MIA MAINTAINS A MEMBERSHIP AT THE MINNEAPOLIS CLUB, A SOCIAL CLUB, IN THE NAME OF THE DIRECTOR AND PRESIDENT. THIS MEMBERSHIP IS USED BY THE MIA FOR HOSTING BUSINESS MEETINGS, BUT IS AVAILABLE TO THE DIRECTOR AND PRESIDENT FOR PERSONAL USE. MONTHLY DUES, TOTALING $4,593, WERE TREATED AS TAXABLE COMPENSATION TO THE DIRECTOR AND PRESIDENT AND ARE GROSSED UP FOR TAX PURPOSES. THE MEMBERSHIP WAS CANCELLED IN JULY 2013. AS COMPENSATION, THE MEMBERSHIP IS REVIEWED UNDER THE COMPENSATION POLICY. SEE SCHEDULE O FOR ADDITIONAL DETAIL ON THE PROCESS FOR DETERMINING COMPENSATION. PART I, LINE 4B KAYWIN FELDMAN PARTICIPATES IN 457(B) AND 457(F) NON-QUALIFIED RETIREMENT PLANS APPROVED BY THE BOARD OF TRUSTEES ON JULY 1, 2010 AND DECEMBER 1, 2011, RESPECTIVELY. CONTRIBUTIONS FOR THESE PLANS ARE REFLECTED IN OTHER REPORTABLE COMPENSATION AND DEFERRED COMPENSATION. CONTRIBUTIONS AND CHANGE IN VALUE TO THE 457(F) PLAN FOR FISCAL YEAR 2013 TOTALED $29,716. PATRICIA GRAZZINI PARTICIPATES IN 457(B) AND 457(F) NON-QUALIFIED RETIREMENT PLANS APPROVED BY THE BOARD OF TRUSTEES ON DECEMBER 17, 2001. CONTRIBUTIONS FOR THESE PLANS ARE REFLECTED IN OTHER REPORTABLE COMPENSATION AND DEFERRED COMPENSATION. CONTRIBUTIONS AND CHANGE IN VALUE TO THE 457(F) PLAN FOR FISCAL YEAR 2013 TOTALED $6,051. MARVIN BORMAN - MASLON EDELMAN BORMAN AND BRAND LLP LIFE TRUSTEE 148105 LEGAL SERVICES 0 RICHARD DAVIS - US BANK ELECTED TRUSTEE 135426 BANK/TRUST/INVESTMENT MANAGEMENT FEES 0 MICHAEL OTT - US BANK ELECTED TRUSTEE 135426 BANK/TRUST/INVESTMENT MANAGEMENT FEES 0 ROGER SIT - SIT INVESTMENT ASSOCIATES ELECTED TRUSTEE 210126 INVESTMENT MANAGEMENT FEES 0 RALPH STRANGIS - SIT INVESTMENT ASSOCIATES ELECTED TRUSTEE 210126 INVESTMENT MANAGEMENT FEES 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: THE MIA HAS HAD A LONGSTANDING BANKING RELATIONSHIP AND IS THE BENEFICIARY OF SEVERAL TRUSTS ADMINISTERED BY US BANK. MICHAEL OTT IS AN EMPLOYEE OF US BANK. RICHARD DAVIS IS AN EMPLOYEE AND EXECUTIVE OFFICER OF US BANK.MIA HAS CONTRACTED WITH MASLON, EDELMAN, BORMAN, AND BRAND LLP FOR LEGAL SERVICES. MARVIN BORMAN, MIA TRUSTEE, WAS A PARTNER OF THE FIRM.MIA HAS CONTRACTED WITH SIT INVESTMENT ASSOCIATES FOR INVESTMENT MANAGEMENT. ROGER SIT, MIA TRUSTEE, IS AN EMPLOYEE AND EXECUTIVE OFFICER OF SIT INVESTMENT ASSOCIATES. RALPH STRANGIS, MIA TRUSTEE, IS A DIRECTOR, SHAREHOLDER, AND TRUSTEE OF TRUSTS HOLDING SHARES OF STOCK OF SIT INVESTMENT ASSOCIATES. X 45 N/A - SEE PART II X 1 N/A - SEE PART II X 57 615852 QUOTED MARKET PRICES X FUNDRAISING AUCTION ITEMS 6 25500 FMV ON GIFT DATE X AIRFARE 1 50000 FMV ON GIFT DATE X EXHIBITION SUPPLIES 2 11495 FMV ON GIFT DATE X SCOOTER 1 2500 FMV ON GIFT DATE X IMAGE RIGHTS 1 2000 FMV ON GIFT DATE 22 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: PER THE STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 116, THE MIA HAS ELECTED THE OPTION TO NOT CAPITALIZE WORKS OF ART WHEN ACQUIRED THROUGH PURCHASE OR GIFT. IN MAKING THIS ELECTION, THE MIA CERTIFIES THAT ITS COLLECTIONS: -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 AN ORGANIZATIONAL POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR, VICE CHAIRS, SECRETARY, TREASURER, DIRECTOR, AND CHAIR OF EACH COMMITTEE OF THE BOARD. THE PRIMARY PURPOSE OF THE EXECUTIVE COMMITTEE IS TO ASSIST THE BOARD IN FULFILLING ITS RESPONSIBILITIES WHEN IT IS NOT PRACTICAL OR FEASIBLE FOR THE FULL BOARD TO MEET AND DURING INTERVALS BETWEEN THE MEETINGS OF THE BOARD. IN THE EXCERCISE OF SUCH POWERS, THE COMMITTEE IS RESPONSIBLE TO THE BOARD FOR ALL OF SUCH ACTS. FORM 990, PART VI, SECTION A, LINE 2 ERIC DAYTON AND BRUCE DAYTON - FAMILY RELATIONSHIP; KATHERINE CROSBY AND LUCY MITCHELL - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 PER THE BY-LAWS, ANY PERSON OR CORPORATION WHO PAYS THE SOCIETY AN ANNUAL MEMBERSHIP FEE IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE MIA APPROVE A SLATE OF CANDIDATES AND THE SIZE OF THE BOARD AS PRESENTED BY THE GOVERNING BODY EACH YEAR AT THE MEMBERS' ANNUAL MEETING. THE BOARD MAY ELECT, AT ITS DISCRETION, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE BOARD UPON RECOMMENDATION OF THE GOVERNANCE AND NOMINATING COMMITTEE, ONE OR MORE LIFE TRUSTEES. THIS HONOR IS THE HIGHEST LEVEL OF RECOGNITION CONFERRED BY THE BOARD UPON SELECTED INDIVIDUALS FROM AMONG MEMBERS OF THE SOCIETY AND ACKNOWLEDGES EXCEPTIONAL DEDICATION AND COMMITMENT TO THE SOCIETY OVER AN EXTENDED NUMBER OF YEARS. AN ELECTIVE TRUSTEE SHALL BECOME ELIGIBLE FOR ELECTION AS A LIFE TRUSTEE UPON EXPIRATION OF ONE YEAR FROM THE DATE WHEN HIS OR HER TERM OF ELECTIVE TRUSTEESHIP SHALL HAVE EXPIRED. LIFE TRUSTEES SHALL HAVE ALL THE PRIVILEGES OF ELECTIVE TRUSTEES FOR THEIR LIFETIME. THE BOARD OF TRUSTEES INCLUDES THE FOLLOWING PERSONS, UPON HIS OR HER ACCEPTANCE THAT ARE TRUSTEES BY VIRTUE OF THEIR OFFICE: THE GOVERNOR OF THE STATE OF MINNESOTA, THE MAYOR OF THE CITY OF MINNEAPOLIS, TWO MEMBERS OF EACH OF THE MINNESOTA SENATE AND HOUSE OF REPRESENTATIVES WHO RESIDE IN HENNEPIN COUNTY, AS FROM TIME TO TIME MAY BE APPOINTED BY THE EXECUTIVE COMMITTEE OF THE SOCIETY, ONE MEMBER OF EACH OF THE BOARD OF HENNEPIN COUNTY COMMISSIONERS AND THE MINNEAPOLIS PARK AND RECREATION BOARD, AS FROM TIME TO TIME MAY BE APPOINTED BY THE EXECUTIVE COMMITTEE OF THE SOCIETY, AND THE PRESIDENT OF THE FRIENDS OF THE INSTITUTE. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY A PROFESSIONAL ACCOUNTING FIRM FROM INFORMATION PROVIDED BY THE MIA. THE CONTROLLER AND DEPUTY DIRECTOR OF THE MIA THEN REVIEW THE FORM FOR ACCURACY. A COPY OF THE DRAFT FORM IS FIRST PROVIDED TO MEMBERS OF THE AUDIT AND EXECUTIVE COMMITTEES FOR REVIEW AND DISCUSSION PRIOR TO FILING. UPON THEIR REVIEW, A FINAL COPY IS PROVIDED TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE ASKED TO COMPLETE A DISCLOSURE STATEMENT. EACH TRUSTEE IS RESPONSIBLE TO REPORT DEVELOPMENTS RELATIVE TO ACTIVITIES AS DEFINED IN THE MIA'S BYLAWS. IF SUCH A DEVELOPMENT ARISES AFTER COMPLETING THE ANNUAL DISCLOSURE FORM, THE TRUSTEE IS ASKED TO DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME. DISCLOSURE STATEMENTS ARE REVIEWED BY THE EXECUTIVE COMMITTEE AND THE POLICY MANAGEMENT TEAM. NO TRUSTEE SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION OR AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF ANY SUCH MEETING WILL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OF INTEREST ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 IT IS THE POLICY OF THE (MIA) THAT THE COMPENSATION PAID TO ITS EMPLOYEES IS REASONABLE AND COMPETITIVE IN RELATION TO COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS, SUBJECT TO BUDGETARY CONSIDERATIONS THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SERVES AS THE COMPENSATION COMMITTEE (THE COMMITTEE) AND IS RESPONSIBLE FOR COMPLIANCE WITH THE COMPENSATION POLICIES AND PROCEDURES. MEMBERS OF THE COMMITTEE WITH A CONFLICT OF INTEREST MUST RECUSE HIMSELF OR HERSELF FROM SUCH ACTION AND MAY NOT PARTICIPATE IN NOR BE PRESENT DURING ANY DISCUSSIONS, DELIBERATIONS OR DECISIONS. THE COMMITTEE SETS THE COMPENSATION OF THE DIRECTOR & PRESIDENT AND APPROVES THE COMPENSATION OF ALL POSITIONS REPORTED ON FORM 990. THE DIRECTOR & PRESIDENT SETS THE COMPENSATION OF ALL OTHER EMPLOYEES. ACCOMPANYING THE POLICY IS A SET OF BOARD-APPROVED PROCEDURES. THE COMMITTEE AND THE DIRECTOR & PRESIDENT OBTAIN AND USE COMPARABILITY DATA PRIOR TO AND IN CONNECTION WITH THE DETERMINATION AND APPROVAL OF ALL COMPENSATION. THE COMPARABILITY DATA INCLUDES BUT IS NOT LIMITED TO: CURRENT COMPENSATION AND BENEFITS DATA FROM COMPARABLE TAX-EXEMPT AND, IN SOME CASES, TAXABLE ORGANIZATIONS, FOR FUNCTIONALLY COMPARABLE POSITIONS REQUIRING SIMILAR SKILLS, EDUCATION, AND EXPERIENCE; THE LOCATION OF THE ORGANIZATION (INCLUDING THE AVAILABILITY OF QUALIFIED PEOPLE IN THE GEOGRAPHIC AREA); INDEPENDENT PAY SURVEYS BY NATIONALLY RECOGNIZED FIRMS; ACTUAL WRITTEN OFFERS FROM SIMILAR INSTITUTIONS COMPETING FOR THE SERVICES OF THE PERSON; THE NUMBER OF EMPLOYEES AND THE ASSETS, BUDGET OR REVENUES SUPERVISED; AND ANY UNUSUAL CHALLENGES. THE COMMITTEE AND THE DIRECTOR & PRESIDENT ARE REQUIRED TO DOCUMENT ALL ASPECTS OF ALL PROCEEDINGS REGARDING THE COMPARABILITY DATA AS WELL AS THE APPROVAL OF ALL COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE SOCIETY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: LOSS ON BENEFICIARY AGREEMENTS -173,581. CHARITABLE REMAINDER UNITRUST (1) 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 INVESTMENT MN N/A T 0 CHARITABLE TRUST (2) 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 INVESTMENT MN N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0