2013-04-22T09:57:13-05:00 2012-06-30 450494838 FRIED AND KOWGIOS PARTNERS CPA'S LLP 441 LEXINGTON AVENUE NEW YORK NY 10017 990 2011-07-01 132887872 THE DRAWING CENTER INC DRAW 2122192166 35 WOOSTER STREET NEW YORK NY 10013 BRETT LITTMAN 2122192166 2013-04-22 P01461372 2124902200 2011 2016-03-07 17:11:31Z BRETT LITTMAN 35 WOOSTER STREET NEW YORK NY 10013 6096808 0 X WWW.DRAWINGCENTER.ORG X 1976 NY PROMOTES THE SIGNIFICANCE OF DRAWINGS THROUGH EXHIBITIONS, PUBLICATIONS, AND EDUCATION. 21 21 23 2 0 0 3196189 5837569 65827 27410 163518 2349 0 0 3425534 5867328 0 0 0 0 892160 627516 0 0 237636 985136 581307 1877296 1208823 1548238 4658505 7844392 13445350 2337215 3279668 5507177 10165682 X THE DRAWING CENTER WAS ESTABLISHED TO DEMONSTRATE THE SIGNIFICANCE AND DIVERSITY OF DRAWINGS THROUGHOUT HISTORY, TO JUXTAPOSE WORK BY MASTER FIGURES WITH WORK BY EMERGING AND UNDER-RECOGNIZED ARTISTS, AND TO STIMULATE PUBLIC DIALOGUE ON ISSUES OF ART AND CULTURE. 0 0 513879 27410 THE DRAWING CENTER ATTRACTS MORE THAN 35,000 VISITORS A YEAR, INCLUDING LOCAL AUDIENCES, ARTISTS, STUDENTS, AND TOURISTS FROM ACROSS AMERICA AND ABROAD. THE ORGANIZATION'S ANNUAL EXHIBITION PROGRAM COMPRISES FIVE TO EIGHT GROUP AND SOLO SHOWS FEATURING WORK IN THE DRAWING MEDIUM BY EMERGING, UNDER-RECOGNIZED, ESTABLISHED, AND HISTORICAL ARTISTS. EACH OF THE CENTER'S EXHIBITIONS IS ACCOMPANIED BY AN ISSUE OF THE AFFORDABLE DRAWING PAPERS PUBLICATION SERIES, AND MAJOR EXHIBITIONS ARE SUPPORTED BY SCHOLARLY CATALOGS. THE DRAWING CENTER'S WEBSITE ATTRACTS MORE THAN 166,000 VISITS ANNUALLY, AND SERVES AS A CLEARING HOUSE FOR INFORMATION ON DRAWING AS A MEDIUM, INCLUDING CAPSULE REVIEWS OF OTHER INSTITUTION'S EXHIBITIONS AND A LIVELY BLOG. SERVICES TO ARTISTS ARE PROVIDED THROUGH THE CENTER'S ARTIST REGISTRY AND VIEWING PROGRAM, WHICH OFFERS PORTFOLIO REVIEWS FOR EMERGING ARTISTS, AND THROUGH WHICH THE CENTER CURATES ANNUAL GROUP EXHIBITIONS. AUDIENCES ARE FURTHER ENGAGED THROUGH A RANGE OF PUBLIC PROGRAMS, INCLUDING GALLERY TALKS, LECTURES, PANEL DISCUSSIONS, AND LITERARY READINGS. THE CENTER'S EDUCATION PROGRAMS INCLUDE FREE ON-SITE AND IN-SCHOOL PROGRAMS FOR STUDENTS IN GRADES K-12 AND AN INTERNSHIP PROGRAM FOR COLLEGE STUDENTS.THE ORGANIZATION'S EXHIBITION SPACE WAS CLOSED FROM JULY 2011 THROUGH NOVEMBER 2012 DURING THE CONSTRUCTION. DURING THAT PERIOD, THE ORGANIZATION RENTED TEMPORARY OFFICE SPACE OFF SITE AND CO-PRODUCED SEVERAL OFFSITE EXHIBITIONS. STAFF RETURNED TO THE RENOVATED SPACE AT 35 WOOSTER STREET IN AUGUST 2012 AND THE EXHIBITION SPACE WAS OPERATIONAL STARTING IN NOVEMBER 2012. CONSTRUCTION IN PROGRESS FOR THE YEAR ENDED JUNE 30, 2012 INCLUDES $466,497 IN OPERATING COSTS, WHICH WERE INCURRED WHILE THE ORGANIZATION'S FACILITIES WERE CLOSED. 513879 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 12 0 23 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 X 21 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X CHAMP KNECHT DEPUTY DIRECTOR FOR ADMINISTRATION 2122192166 35 WOOSTER STREET NEW YORK NY 10013 FRANCES BEATTY ADLER 2.00 X X 0 0 0 ERIC RUDIN 2.00 X X 0 0 0 JANE DRESNER SADAKA 2.00 X X 0 0 0 DITA AMORY 2.00 X X 0 0 0 SUZANNE COCHRAN 2.00 X 0 0 0 STEVEN HOLL 2.00 X 0 0 0 ANITA CONTINI 2.00 X 0 0 0 BRUCE FERGUSON 2.00 X 0 0 0 DAVID LANG 2.00 X 0 0 0 IRIS MARDEN 2.00 X 0 0 0 KENNETH SILVER 2.00 X 0 0 0 PAT STEIR 2.00 X 0 0 0 STACEY GOERGEN 2.00 X X 0 0 0 DR ALLEN SESSOMS 2.00 X 0 0 0 GEORGE NEGROPONTE 2.00 X 0 0 0 GABRIEL PEREZ-BARREIRO 2.00 X 0 0 0 BARBARA TOLL 2.00 X 0 0 0 ISABEL WILCOX 2.00 X 0 0 0 CANDACE WORTH 2.00 X 0 0 0 BRAD CLOEPFIL 2.00 X 0 0 0 RHIANNON KUBICKA 2.00 X 0 0 0 MERRILL MAHAN 2.00 X 0 0 0 NANCY POSES 2.00 X 0 0 0 BRETT LITTMAN 40.00 X 150992 0 12110 150992 0 12110 1 0 1 0 WXY ARCHITECTURE & URBAN DESIGN 224 CENTRE STREET 5TH FLOOR NEW YORK NY 10013 ARCHITECT 532157 RYAN ASSOCIATES GENERAL CONTRACTORS 333 12TH STREET SAN FRANCISCO CA 94103 CONTRACTOR 142638 2 761675 3130108 1945786 90967 5837569 EXHIBITION REVENUE 900099 25806 25806 MISCELLANEOUS REVENUE 900099 900 900 PUBLICATION SALES 511190 704 704 27410 2406 2406 134983 135040 -57 -57 -57 94440 761675 94440 0 5867328 27410 0 2349 156783 47252 71729 37802 370273 231737 83792 54744 47211 24188 15000 8023 53249 27281 16918 9050 35538 35538 45615 39825 3652 2138 119238 1054 117630 554 99961 50923 31595 17443 40739 21380 12425 6934 20134 10343 9427 364 47927 17733 24443 5751 17273 9065 5268 2940 INDIRECT BENEFIT EXP 54028 54028 REPAIRS AND MAINTENANCE 40512 21261 12355 6896 UTILITIES 27574 14471 8410 4693 BAD DEBT 25000 25000 7768 -2634 9126 1276 1208823 513879 457308 237636 139937 920240 2444409 2516036 1227961 1267438 24042 28871 25950 31690 22639 61786 9882869 1272143 3944329 8610726 15125 8563 7844392 13445350 303545 1029449 6979 8688 2000000 2216949 26691 24582 2337215 3279668 X 3658522 4055508 1063877 5475396 784778 634778 5507177 10165682 7844392 13445350 4658505 0 X X 0 1 1 X 0 X 1661127 1442183 1456112 3196189 5837569 13593180 1661127 1442183 1456112 3196189 5837569 13593180 1273858 12319322 117917 15571 186 47384 2349 183407 13776587 238483 0.89420 0.77030 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X BENEFIT EVENT AUCTION 1 784778 150000 634778 2574800 1790022 784778 2574800 2574800 2574800 2574800 1.00000 0 0 180000 180000 9335877 910040 8425837 119300 119300 0 155941 151052 4889 91751 91751 0 8610726 VACATION ACCRUAL 24582 24582 5867328 1208823 4658505 4658505 5867328 0 5867328 0 5867328 1208823 0 1208823 0 1208823 PART III, LINE 1A: THE ORGANIZATION HAS ACCUMULATED CERTAIN ARTWORK THAT HAS NOT BEEN REFLECTED IN THE FINANCIAL STATEMENTS SINCE THE FAIR MARKET VALUE IS NOT DETERMINABLE. PART III, LINE 4: AT TIMES THROUGHOUT THE YEAR THE ORGANIZATION MAINTAINED COLLECTIONS OF ARTWORK FOR EXHIBITION PURPOSES. THE ORGANIZATION'S EXEMPT PURPOSE IS TO PROMOTE THE SIGNIFICANCE OF DRAWINGS THROUGH EXHIBITIONS, PUBLICATIONS, AND EDUCATION. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: PERMANENTLY RESTRICTED NET ASSETS AS OF JUNE 30, 2012 WERE RESTRICTED FOR THE "FUND FOR THE FUTURE" CAMPAIGN ($589,778) AND UNRESTRICTED ($45,000). IN 1999 THE ORGANIZATION LAUNCHED A CAPITAL AND ENDOWMENT FUNDRAISING CAMPAIGN CALLED THE "FUND FOR THE FUTURE". "FUND FOR THE FUTURE" DONATIONS ARE ALLOCATED 25 % TO TEMPORARILY RESTRICTED FOR USE TOWARDS CAPITAL COSTS AND 75% TO PERMANENTLY RESTRICTED FOR ENDOWMENT. THE BOARD SPENDING POLICY LIMITS DISTRIBUTIONS TO REALIZED INVESTMENT EARNINGS. ANY EXCESS INVESTMENT EARNINGS ON THESE FUNDS ARE TEMPORARILY RESTRICTED TOWARDS THE "FUND FOR THE FUTURE". NET LOSSES FOR THE YEAR ARE FIRST APPLIED TOWARDS ANY CUMULATIVE EXCESS WITHIN TEMPORARILY RESTRICTED. ANY REMAINING NET LOSSES REDUCE UNRESTRICTED INVESTMENT INCOME. THE UNRESTRICTED PORTION OF THE ENDOWMENT WAS CREATED THROUGH A NATIONAL ENDOWMENT FOR THE ARTS CHALLENGE GRANT. DURING THE YEAR ENDED JUNE 30, 2011 DONORS AGREED TO RELEASE $1,290,022 FROM THE "FUND FOR THE FUTURE" ENDOWMENT AND $500,000 FROM THE CONTEMPORARY PROGRAMMING ENDOWMENT TO COVER COSTS ASSOCIATED WITH THE ORGANIZATION'S CAPITAL PROJECT. DURING THE YEAR ENDED JUNE 30, 2012 A DONOR AGREED TO RELEASE $150,000 FROM THE "FUND FOR THE FUTURE" ENDOWMENT. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. ANNUAL GALA 428775 352357 76418 22506 33758 14108 6046 ANNUAL AUCTION 423590 405568 18022 7209 10813 1 3750 3750 0 856115 761675 94440 29715 44571 14108 6046 94440 0 1 X X X X X 0 0 0 0 0 0 0 0 0 BRETT LITTMAN 150992 0 0 0 0 0 0 0 12110 0 163102 0 0 0 X 65 NOT DETERMINABLE X 2 90967 FAIR VALUE-DATE OF GIFT 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: THE ORGANIZATION RECEIVED DONATED ARTWORK DURING THE YEAR ENDED JUNE 30, 2012 IN SUPPORT OF ITS FUNDRAISING AUCTION AND PUBLICATION PROGRAMS. DONATED ARTWORK ASSOCIATED WITH THE ORGANIZATION'S FUNDRAISING AUCTION (APPROXIMATELY 65 CONTRIBUTORS)HAS NOT BEEN CAPITALIZED, AS ALLOWED UNDER FASB ASC 958-360. FORM 990, PART VI, SECTION B, LINE 11 DRAFT OF THE FORM 990 IS SENT TO THE FULL BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND OFFICERS ARE REQUESTED TO SUBMIT AN ANNUAL CONFLICT OF INTEREST CERTIFICATION AND FORM 990 DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 OFFICERS COMPENSATION APPROVED BY BOARD BASED ON INDUSTRY STANDARD. FORM 990, PART VI, SECTION C, LINE 19 FORM 990 IS AVAILABLE ON GUIDESTAR.ORG, ALL OTHERS UPON REQUEST FORM 990, PART XII, LINE 2C PROCESS HAS NOT CHANGED FROM PRIOR YEAR.