2013-05-06T16:39:30-05:00 2012-06-30 PricewaterhouseCoopers LLP 300 Madison Avenue New York NY 10017 990 2011-07-01 136143744 THE INTERNATIONAL COUNCIL OF THE MUSEUM OF MODERN ART INC % CAROL COFFIN INTE 2127089470 11 WEST 53RD STREET NEW YORK NY 10019 Carol Coffin 2013-05-01 true 6464713000 2011 2016-02-25 16:41:14Z SHARON PERCY ROCKEFELLER 11 WEST 53RD STREET NEW YORK NY 10019 1636069 false X N/A X 1956 NY THE INTERNATIONAL COUNCIL OF MOMA IS ORGANIZED TO DEVELOP INTERNATIONAL UNDERSTANDING IN THE FIELD OF ART, THROUGH A PROGRAM OF EXHIBITIONS, CONFERENCES, LECTURES, PUBLICATIONS, & OTHER PROGRAMS. 37 37 3 37 0 0 1432668 1333192 185672 106809 165233 196068 0 0 1783573 1636069 707639 518743 0 0 315553 347849 0 0 0 653343 691385 1676535 1557977 107038 78092 4387147 4319609 155702 167245 4231445 4152364 X THE INTERNATIONAL COUNCIL OF MOMA IS ORGANIZED TO DEVELOP INTERNATIONAL UNDERSTANDING IN THE FIELD OF ART, ESPECIALLY MODERN AND CONTEMPORARY VISUAL ART, THROUGH A PROGRAM OF EXHIBITIONS, NATIONAL AND INTERNATIONAL CONFERENCES, LECTURES, PUBLICATIONS, AND OTHER PROGRAMS. false false 518743 518743 A. TOTAL GRANTS PAID: $518,743 1. GRANTS TO MOMA: $431,739 2. TRAVEL GRANTS TO MOMA: $ 66,504 3. GRANTS TO MOMA FOR INTL PROGRAMS:$ 20,500 351739 106809 MEMBERSHIP SERVICES TO INCLUDE ANNUAL FALL AND SPRING MEETINGS 11839 SUPPORT IC MOMA ANNUAL PUBLICATION 882321 true true false false false false false false false true false false false true true false true false false false true false false false false false false true false false false false false false false false false false true false false false false false false false false false true 6 0 false 3 true false false false false false false false false false false X 37 37 true false false false false false false true true false false true false false false true false false NY X CAROL COFFIN 2127089470 11 WEST 53RD STREET NEW YORK NY 10019 X X BRIAN URQUHART 1.0 X X AGNES GUND 1.0 X X JO CAROLE LAUDER 1.0 X X HRH DUKE FRANZ OF BAVARIA 1.0 X X LEWIS B CULLMAN 1.0 X X MRS GIFFORD PHILLIPS 1.0 X X PONTUS BONNIER 1.0 X X GILBERTO CHATEAUBRIAND 1.0 X X TOSHIO HARA 1.0 X X MRS HENRY J HEINZ II 1.0 X X MRS EUGENE MCDERMOTT 1.0 X X BEATRIX MEDINGER 1.0 X X LI CHUNG PEI 1.0 X X LAURA LEE W WOODS 1.0 X X VIRGINIA WRIGHT 1.0 X X WILLIAM L BERNHARD 1.0 X X MONIQUE BARBIER-MUELLER 1.0 X NELLY ARRIETA DE BLAQUIER 1.0 X PATRICIA PHELPS DE CISNEROS 1.0 X JEANNE C THAYER 1.0 X MRS AGUSTIN EDWARDS 1.0 X LENORE S GREENBERG 1.0 X GABRIELE HENKEL 1.0 X MARIELUISE HESSEL 1.0 X BARBARA JAKOBSON 1.0 X SUYDAM LANSING 1.0 X WENDY LARSEN 1.0 X MARY ELLEN OLDENBURG 1.0 X GIFFORD PHILIPS 1.0 X SHARON PERCY ROCKEFELLER 1.0 X X YOLANDA SANTOS 1.0 X MRS GUIDO SCHMIDT-CHIARI 1.0 X PENELOPE EVATT SEIDLER 1.0 X WILLIAM KELLY SIMPSON 1.0 X LOLA MITJANS DE VILARASAU 1.0 X PAUL F WALTER 1.0 X ERIKA HOFFMANN-KOENIGE 1.0 X X 0 0 0 CAROL COFFIN 35.0 X 148596 0 0 148596 0 0 1 false false false 0 1238000 95192 3573 1333192 ADMISSION FEES FOR FALL EVENT 900099 106809 106809 106809 50 50 0 0 196018 196018 196018 196018 0 0 0 0 1636069 106809 196068 518743 518743 0 0 0 0 0 280473 11688 268785 0 67376 583 66793 0 0 42740 42740 43274 3274 40000 0 0 0 26728 19512 7216 4797 4797 59047 42280 16767 0 0 0 200275 200275 64240 64240 0 192277 190775 1502 0 0 0 0 BAD DEBTS 22800 22800 SECURITY CHARGES IN/OUT 8997 8997 IN-HOUSE PURCH RETAIL/PUBLICAT 8263 5639 2624 EDITING/PROOFREADING 6200 6200 11747 10390 1357 1557977 882321 675656 0 0 0 188576 172081 20571 19182 165000 65500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4013000 4062846 4387147 4319609 72840 72159 0 0 0 0 0 0 0 0 0 0 0 0 0 0 82862 95086 155702 167245 X 2955765 2886573 306061 264422 969619 1001369 4231445 4152364 4387147 4319609 X 78092 -157173 X false true true X false X 1105073 1045876 1534841 1432668 1333192 6451650 135168 124520 139480 185672 106809 691649 1240241 1170396 1674321 1618340 1440001 7143299 251094 207398 421531 263750 312000 1455773 251094 207398 421531 263750 312000 1455773 5687526 223182 3189 486 161 50 227068 223182 3189 486 161 50 227068 1463423 1173585 1674807 1618501 1440051 7370367 0.77168 0.74071 0.03081 0.07548 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1262264 31750 10605 48749 1255870 935216 30750 182789 50574 -164083 1262264 792619 146250 -3653 935216 778569 14050 792619 1.00000 false false - INTERNATIONAL COUNCIL FUND 2806977 - LOUISE SMITH TRAVEL FUND 688941 - ELIZABETH STREIBERT FUND 344506 - JO CAROLE LAUDER PUBLICA- 222422 4062846 0 DUE TO MUSEUM OF MODERN ART 95086 95086 1636069 1557977 78092 -157173 -157173 -79081 1372087 -157173 -157173 1529260 106809 106809 1636069 1451168 1451168 106809 106809 1557977 SCHEDULE D, PART V, LINE 1E RECLASSIFICATION OF ENDOWMENT FUNDS ON SEPTEMBER 17, 2010, NEW YORK STATE ENACTED THE NEW PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT ("NYPMIFA"). NYPMIFA CONTAINS PROVISIONS THAT GOVERN CHARITABLE INSTITUTIONS' APPROPRIATION AND USE, AMONG OTHER THINGS, OF DONOR-RESTRICTED ENDOWMENT FUNDS. NYPMIFA UPDATED CERTAIN PROVISIONS OF PRIOR ENDOWMENT MANAGEMENT LAW. MOST SIGNIFICANTLY, UNDER PRIOR LAW, CHARITABLE INSTITUTIONS WERE REQUIRED TO MAINTAIN THE "HISTORIC DOLLAR VALUE" OF ENDOWMENT FUNDS, MEANING THAT INSTITUTIONS COULD APPROPRIATE ONLY: A PRUDENT PORTION OF THE FUND IF THE VALUE OF THE FUND WERE GREATER THAN THE DOLLAR VALUE OF THE DONOR'S CONTRIBUTION(S)TO THE FUND (I.E., THE "HISTORIC DOLLAR VALUE"), AND THE APPROPRIATION WOULD NOT TAKE THE FUND BELOW THAT AMOUNT; OR A PRUDENT PORTION ONLY OF THE INCOME FROM THE FUND, IF THE VALUE OF THE FUND WERE LESS THAN THE HISTORIC DOLLAR VALUE. UNDER NYPMIFA, A DETAILED PRUDENCE STANDARD GOVERNS APPROPRIATION FROM ENDOWMENT FUNDS, AND THERE IS NO LONGER A REQUIREMENT TO MAINTAIN HISTORIC DOLLAR VALUE. PRUDENT APPROPRIATION FROM A FUND WHOSE VALUE IS LESS THAN ITS HISTORIC DOLLAR VALUE IS PERMITTED. IN PARTICULAR, NYPMIFA PROVIDES THAT, UNLESS A DONOR EXPRESSES A CONTRARY INTENTION IN A GIFT INSTRUMENT, A CHARITABLE INSTITUTION MAY APPROPRIATE AS MUCH OF AN ENDOWMENT FUND AS IT "DETERMINES IS PRUDENT FOR THE USES, BENEFITS, PURPOSES AND DURATION FOR WHICH THE FUND IS ESTABLISHED," WITHOUT REGARD FOR HISTORIC DOLLAR VALUE. AS WITH PRIOR LAW, NYPMIFA RETAINS THE REQUIREMENT THAT IN MAKING ANY DECISION TO APPROPRIATE, "THE INSTITUTION SHALL ACT IN GOOD FAITH, WITH THE CARE THAT AN ORDINARY PRUDENT PERSON IN A LIKE POSITION WOULD EXERCISE UNDER SIMILAR CIRCUMSTANCES." IT FURTHER PROVIDES A NEW REQUIREMENT THAT THE INSTITUTION "SHALL CONSIDER, IF RELEVANT" THE FOLLOWING EIGHT FACTORS IN DECIDING WHETHER OR NOT TO APPROPRIATE FROM A FUND: -THE DURATION AND PRESERVATION OF THE ENDOWMENT FUND -THE PURPOSES OF THE INSTITUTE AND THE ENDOWMENT FUND -GENERAL ECONOMIC CONDITIONS -THE POSSIBLE EFFECTS OF INFLATION OR DEFLATION -THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS -OTHER RESOURCES OF THE COUNCIL -ALTERNATIVES TO EXPENDITURE OF THE ENDOWMENT FUND; AND -THE INVESTMENT POLICY OF THE COUNCIL. THE PROVISIONS OF NYPMIFA ALLOWING PRUDENT APPROPRIATION WITHOUT REGARD TO HISTORIC DOLLAR VALUE APPLY TO FUNDS AFTER ITS EFFECTIVE DATE OF SEPTEMBER 17, 2010. CERTAIN DONORS OF FUNDS CREATED BEFORE THAT DATE ARE GIVEN THE OPTION OF REQUIRING INSTITUTIONS TO CONTINUE TO OBSERVE THE HISTORIC DOLLAR VALUE RESTRICTIONS CONTAINED IN PRIOR YEAR. MOREOVER, AS WITH PRIOR LAW, A DONOR MAY INCORPORATE IN A GIFT INSTRUMENT SPECIFIC RESTRICTIONS ON APPROPRIATIONS THAT ARE DIFFERENT FROM EITHER NYPMIFA OR PRIOR LAW. FINANCIAL REPORTING OF ENDOWMENTS CONSISTENT WITH ENDOWMENT ACCOUNTING FOR NOT-FOR-PROFIT ORGANIZATIONS FOR FUNDS SUBJECT TO AN ENACTED VERSIONS OF NYPMIFA, THE COUNCIL CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, (C) THE NET REALIZABLE VALUE OF FURTHER PAYMENTS TO PERMANENTLY RESTRICTED NET ASSETS IN ACCORDANCE WITH THE DONOR'S GIFT INSTRUMENT (OUTSTANDING ENDOWMENT PLEDGES NET OF APPLICABLE DISCOUNT), AND (D) ACCUMULATIONS, INCLUDING APPRECIATION, GAINS AND INCOME, TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. UNDER THESE POLICIES, AND AS APPROVED BY THE COUNCIL'S BOARD, THE LONG TERM FOCUS OF THE ENDOWMENT IS TO SUPPORT THE COUNCIL'S MISSION BY PROVIDING DIRECTION AND APPROVAL OF THE DIRECTORS THE ENDOWMENT WILL SEEK TO MAXIMIZE LONG-TERM RETURNS CONSISTENT WITH PRUDENT LEVELS OF RISK. FUNDS SHARE IN THE OVERALL EARNINGS RATE OF THE MUSEUM'S PORTFOLIO. FOR FINANCIAL REPORTING PURPOSES, DONOR-RESTRICTED ENDOWMENT FUND APPRECIATION, GAINS AND INCOME EXCEEDING DONOR RESTRICTIONS ARE CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE BOARD IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY LAW. UPON APPROPRIATION, APPROPRIATION AND EARNINGS ARE RECLASSIFIED AS UNRESTRICTED NET ASSETS. AN AMOUNT EQUAL TO 5% OF THE AVERAGE MARKET VALUE OF THE INTERNATIONAL COUNCIL'S LOUISE REINHARDT SMITH ENDOWMENT FUND FOR PROFESSIONAL TRAVEL AND EXCHANGE AND THE ELIZABETH T. STREIBERT ENDOWMENT FUND FOR CURATORIAL TRAVEL AT THE END OF THE THREE PRECEDING YEARS IS MADE AVAILABLE FOR TRAVEL GRANTS. FOR EACH DONOR-RESTRICTED ENDOWMENT FUND THE COUNCIL SHALL CLASSIFY THE PORTION OF THE FUND THAT IS NOT CLASSIFIED AS PERMANENTLY RESTRICTED NET ASSETS AS TEMPORARILY RESTRICTED NET ASSETS UNTIL APPROPRIATED FOR EXPENDITURE BY THE BOARD. IN INITIALLY APPLYING THE GUIDANCE TO ITS DONOR-RESTRICTED ENDOWMENT FUNDS IN EXISTENCE UPON NYPMIFA ENACTMENT, THE COUNCIL DETERMINED THE ACCUMULATED AMOUNTS EARNED ON DONOR RESTRICTED ENDOWMENT FUNDS IN EXCESS OF APPROPRIATION WHICH WERE PREVIOUSLY REFLECTED WITHIN UNRESTRICTED NET ASSETS. AS A RESULT OF FISCAL YEAR 2011, A RECLASSIFICATION TO TEMPORARILY RESTRICTED NET ASSETS OF $164,083 WAS REFLECTED WITHIN THE STATEMENT OF CHANGES IN NET ASSETS BASED ON THE CHANGE IN LAW. HOWEVER, GIVEN THE SUMMARIZED COMPARATIVE INFORMATION FORMAT FOR THE PRIOR YEAR (2011), THIS AMOUNT IS NOT REFLECTED IN THE STATEMENT OF CHANGES IN NET ASSETS. SCHEDULE D, PART V, LINE 4 ENDOWMENT FUNDS THE INTERNATIONAL COUNCIL OF MOMA'S ENDOWMENT FUNDS CONSIST OF THREE DONOR-RESTRICTED INDIVIDUAL FUNDS. SUCH ENDOWMENTS WERE ESTABLISHED FOR THE PURPOSE OF PROVIDING A RELIABLE SOURCE OF FUNDS IN ORDER TO SUPPORT THE ORGANIZATION'S PROGRAMS OF PROFESSIONAL AND CURATORIAL TRAVEL AND EXCHANGE. EXPENDITURES FROM THESE DONOR-RESTRICTED FUNDS ARE LIMITED TO THE USES AND PURPOSES FOR WHICH THESE ENDOWMENTS WERE ESTABLISHED BY THE DONOR. UNDER THE DIRECTION AND APPROVAL OF THE DIRECTORS, THE ENDOWMENT FUND WILL SEEK TO MAXIMIZE LONG-TERM RETURNS CONSISTENT WITH PRUDENT LEVELS OF RISK. SCEDULE D, PART XII, LINE 4B AND PART XIII, LINE 4B OTHER REVENUE AND EXPENSE ADMISSION FEE FOR FALL EVENT: $106,809 Europe (Including Iceland and Greenland) Program Services SPRING MEETING TURKEY 64371 64371 64371 false false false false false false true MUSEUM OF MODERN ART 131624100 501(C)(3) 518743 N/A N/A TRAVEL GRANT - ARTS & EDUCATION 1 SCHEDULE I, PART I, LINE 2 PROCEDURES FOR MONITORING GRANTS IN THE UNITED STATES OVERALL: ALL FINANCIAL OPERATIONS ARE OVERSEEN BY THE INTERNATIONAL COUNCIL TREASURER AND EXECUTIVE COMMITTEE. CASH RECEIPTS AND DISBURSEMENTS ARE REVIEWED MONTHLY BY THE EXECUTIVE DIRECTOR OF THE IC MOMA. MOMA MAKES AVAILABLE MONTHLY REPORTS ON COUNCIL INCOME AND EXPENSE, AND ON THE THREE FUNDS INVESTED BY MOMA ON THE IC MOMA'S BEHALF. ALL EXPENSES PAID BY MOMA ON THE IC MOMA'S BEHALF ARE REIMBURSED ON A QUARTERLY BASIS. BUDGETS: BUDGETS FOR ADMINISTRATION, PROGRAMS, AND GRANTS ARE REVIEWED IN THE FALL AND IN THE SPRING. VARIANCES ARE REVIEWED AND SHARED WITH THE TREASURER AND EXECUTIVE COMMITTEE. EACH GRANT REQUEST IS REVIEWED INDIVIDUALLY BY THE EXECUTIVE COMMITTEE AND RELEVANT STAFF. TRAVEL GRANT BUDGETS ARE REVIEWED BY A TRAVEL ADVISORY COMMITTEE CONSISTING OF IC MOMA MEMBER REPRESENTATIVES AND IC MOMA AND MOMA STAFF. PAYMENTS: PAYMENTS FOR DISBURSEMENTS RELATING TO ALL GRANT FUNDS REQUIRE APPROPRIATE SUPPORTING DOCUMENTATION, BEFORE PAYMENTS ARE MADE. THE BUDGET FOR EACH TRAVEL GRANT IS REVIEWED BY APPROPRIATE STAFF AND COUNCIL COMMITTEE REPRESENTATIVES. RESTRICTIONS PLACED ON GIFTS BY DONORS ARE STRICTLY RECORDED AND RESPECTED. INTERNATIONAL PROGRAM: THE DIRECTOR OF THE INTERNATIONAL PROGRAM REPORTS TO THE IC MOMA ON ALL ACTIVITIES, THROUGH ITS EXECUTIVE COMMITTEE, WITH ROUTINE REPORTS TO THE MEMBERSHIP. THE INTERNATIONAL PROGRAM SERVES AS AN IMPORTANT BRIDGE BETWEEN MOMA AND THE IC MOMA. X SHS OF MERCK & CO. 1 2500 BOOK X SHS OF INTEL 1 573 BOOK X SHS OF EXXON/MOBIL 1 500 BOOK false false false FORM 990, PART VI, SECTION A, GOVERNING BODY & MANAGEMENT, LINE 2 FAMILY AND BUSINESS RELATIONSHIPS SHARON ROCKEFELLER AND JUSTIN ROCKEFELLER. RELATIONSHIP: FAMILY RELATIONSHIP MR AND MRS GIFFORD PHILLIPS. RELATIONSHIP: FAMILY RELATIONSHIP FORM 990, PART VI, LINE 10 REVIEW PROCESS FOR FORM 990 THE FORM 990 WAS REVIEWED BY THE FINANCE COMMITTEE, AND THEN PRESENTED TO THE BOARD OF TRUSTEE MEMBERS PRIOR TO THE FILING DATE. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST POLICY IC MOMA HAS A DRAFT CONFLICT OF INTEREST POLICY. THE ORGANIZATION PLANS TO ADOPT THE POLICY IN THE NEXT FISCAL YEAR FOR 2011. THE DRAFT POLICY IS AVAILABLE UPON REQUEST. FORM 990, PART VI, LINE 15A & 15B COMPENSATION POLICY THE COUNCIL'S TREASURER AND PRESIDENT, BOTH OF WHOM ARE INDEPENDENT BOARD MEMBERS, REVIEW THE SALARY WITH RELEVANT EXECUTIVE COMMITTEE MEMBERS. THE EXECUTIVE DIRECTOR'S SALARY IS DETERMINED IN COMPARISON TO COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE COMPENSATION DETERMINATION IS THEN DOCUMENTED AND COMMUNICATED TO HUMAN RESOURCES. FORM 990, PART VI, LINE 19 DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION IC MOMA'S GOVERNANCE DOCUMENTS, DRAFT CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990 PART VII, COLUMN B AVERAGE HOURS THE COMPENSATION OF CAROL COFFIN WAS PAID THROUGH THE MASTER PAYROLL SYSTEM OF MOMA, A CLOSELY AFFILIATED ENTITY OF IC MOMA. CAROL COFFIN WORKS ON AVERAGE 35 HOURS EACH WEEK FOR IC MOMA. FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS OR FUND BALANCE UNREALIZED LOSS ON INVESTMENTS: ($157,173)