2013-05-08T10:34:17-05:00 2012-06-30 010494526 Baker Newman & Noyes LLC Box 507 Portland ME 04112 990 2011-07-01 020223322 Currier Museum of Art CURR 6036696144 150 Ash Street Manchester NH 03104 Susan Strickler 6036696144 2013-04-29 Nicholas E Porto P01310283 2078792100 2011 2016-02-25 16:41:14Z Mary Christine Dwyer 150 Ash Street Manchester NH 03104 12045131 0 X www.currier.org X 1919 NH Provide stimulating, diverse, and enjoyable encounters with original works of art. 16 16 126 108 -87531 -87531 1105337 731374 617743 773627 3074382 1397908 99482 -17059 4896944 2885850 14835 13770 0 0 2441480 2420800 0 0 318825 4700577 3700923 7156892 6135493 -2259948 -3249643 105314448 100766013 9336318 9038165 95978130 91727848 X The Currier Museum of Art is committed to providing stimulating, diverse, and enjoyable encounters with original works of art and, in doing so, hopes to inspire the hearts, minds and imagination of its members and visitors. The Museum provides the public with opportunities to learn about the past, appreciate and evaluate the present, and contemplate the future.The Currier is determined to serve all age groups and a culturally varied audience from New Hampshire and the surrounding region. The Museum aims to be a leader in developing innovative learning experiences that increase people's understanding, appreciation and enjoyment of the arts and humanities. 0 0 4305645 447685 Art Museum The Currier, an internationally renowned art museum, is New Hampshire's largest art museum with world class European and American art collections of over 11,000 objects that are at the core of its education, studio, and exhibition programs. An annual roster of 4-5 special exhibitions that complements the permanent collection displays are interpreted through a range of programs including guided tours, hands-on art making activities, artist talks, and on-line curriculum for teachers. There were approximately 68,000 visitors to the Museum. In addition to exhibition galleries, the museum facility includes: 2 classrooms, an 180-seat auditorium, winter garden, museum shop, caf, and entrance plaza. www.currier.org 374419 13770 266408 Art Center Open since 1939, the Art Center serves Manchester and surrounding communities with quality, studio-based educational programs in the visual arts. Year round programming include summer art camps, school vacation-week camps, fall and winter semester-long classes, master classes, and workshops. Some after-school programs are offered at select schools in the region. The Art Center provides a wide range of studio instruction for children, teens, and adults with annual enrollments of over 2,000. It offers scholarship assistance to students demonstrating a financial need. 109735 59534 Zimmerman House - The historic Isadore J. and Lucille Zimmerman House was designed by architect Frank Lloyd Wright. Included in the House is the original furniture designed by Wright and the Zimmermans' personal collection of modern art, pottery, and sculpture. The Zimmerman House draws about 4,000 visitors annually for tours of the House and grounds. The Zimmerman House is the only residence in New England designed by Frank Lloyd Wright that is open to the public. 4789799 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 43 0 1 126 1 0 0 0 0 0 1 1 0 0 0 0 X 16 16 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X Sherry Collins 6036696144 150 Ash Street Manchester NH 03104 Lucy Fowlkes Breed 1.00 X 0 0 0 Dwight D Churchill 2.00 X 0 0 0 Raymond G Cote part year 1.00 X 0 0 0 Pamela Diamantis 1.00 X 0 0 0 Patrick Duffy 1.00 X 0 0 0 Margaret Gaillard 1.00 X 0 0 0 Kendra Stearns O'Donnell 1.00 X 0 0 0 Barbara Putnam 1.00 X 0 0 0 Nike Speltz 1.00 X 0 0 0 John Swope 1.00 X 0 0 0 Richard Thorner 1.00 X 0 0 0 Nancy Tieken part year 1.00 X 0 0 0 William Upton 1.00 X 0 0 0 Kimon S Zachos 2.00 X 0 0 0 David A Jensen 7.00 X X 0 0 0 M Christine Dwyer 4.00 X X 0 0 0 Harry Shepler 2.00 X X 0 0 0 John H Morison III 2.00 X X 0 0 0 Susan E Strickler 40.00 X 177246 0 10542 Sherry H Collins 40.00 X 68752 0 9571 245998 0 20113 1 0 1 0 0 213575 10764 507035 6094 731374 Art Center Tuition 611710 260526 260526 Museum Shop 453220 182671 182671 Admissions 713990 174378 174378 Miscellaneous Revenue 611710 120955 120955 Public Programs 611710 35097 35097 773627 830105 830105 78125 7653 70472 70472 70472 9719431 9151628 567803 567803 567803 Investment Partnership 523000 -87531 -87531 -87531 2885850 773627 -87531 1468380 13770 13770 267735 13387 160640 93708 1870822 1459130 273322 138370 27855 15747 9478 2630 103470 76460 22319 4691 150918 106689 27633 16596 3582 3582 34025 34025 203747 203747 32627 32627 129464 123249 5365 850 97460 46305 43773 7382 51756 11567 35361 4828 438889 392543 36893 9453 18895 10757 5450 2688 445468 423195 22273 993459 937372 36457 19630 85609 76964 7970 675 Art Works Purchased 546571 546571 Exhibitions & Collectio 263170 263170 Public Programs/Service 238923 238923 Development & Membershi 63642 34000 13914 15728 53636 52040 1596 6135493 4789799 1026869 318825 497012 385845 315445 186251 257550 121731 10875 25560 94432 78935 75084 92751 30940456 11435823 20347513 19504633 60179415 58205710 23378063 22011206 159059 153391 105314448 100766013 181836 187847 181150 119397 8973332 8730921 9336318 9038165 X 1893237 1522441 43593270 39713399 50491623 50492008 95978130 91727848 105314448 100766013 X -3249643 -1000639 X X 0 1 1 X 0 X 3036194 617791 765957 1105337 731374 6256653 3036194 617791 765957 1105337 731374 6256653 230244 6026409 1169122 975790 896423 781604 908230 4731169 10987822 4119191 0.54850 0.56450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 81100081 0 384850 13500 3214373 197364 78059694 65684261 0 19603838 13000 3961981 213037 81100081 63264184 86669 5407615 12700 2952172 109335 65684261 69846741 6644635 -10258567 15000 2848874 104751 63264184 0.00400 0.64040 0.35560 0 0 27497057 9303862 18193195 3443399 2131961 1311438 19504633 Real estate investment funds 1820750 F Alternative investments 20190456 F 22011206 2885850 6135493 -3249643 -1000639 -1000639 -4250282 1892864 -1000639 7653 -992986 2885850 0 2885850 6143146 7653 7653 6135493 0 6135493 Part III, Line 1a: The Museum has elected not to capitalize its collections and objects of art, including the Zimmerman House, all of which are significant to the Museum's operations and mission. The value of the objects acquired by gift, for which the Museum can make a reasonable estimate, totaled $331,450 and $252,300 for the years ended June 30, 2012 and 2011, respectively. An estimate of the total value of objects acquired by gift in years prior to 1997 is not readily determinable. The total value of gifts received since 1997 is $10,027,995. The total value of objects purchased from December 31, 1997 through June 30, 2012 and 2011 was $13,321,232 and $12,774,661, respectively. For the years ended June 30, 2012 and 2011, the Museum sold deaccessioned collections and objects of art totaling $16,201 and $16,920, respectively. The selling price of these items approximated their fair value. Part III, Line 4: The Currier is New Hampshire's largest art museum with world-class European and American art collections of over 11,000 objects that are at the core of its education, studio, and exhibition programs. Composed of the Museum, the Art Center, and the Frank Lloyd Wright-designed Zimmerman House, the Currier received reaccreditation from the American Alliance of Museums in November of 2012. In its 82-year history, the Museum has built collections of both international stature and regional importance. Today, the Museum's holdings of more than 11,000 objects include major works by such European masters as Tiepolo, Constable, Monet, Picasso, and Matisse, among many others. The American art collections are the most comprehensive in northern New England, and include works by Homer, Hassam, O'Keeffe, Calder, and Gottlieb, for instance, as well as extensive holdings of sculpture, photography, glass, silver, pewter, and furniture. The caliber of the collections matches that of many major metropolitan museums, and objects are frequently loaned to museums around the world. The Currier has a long-standing commitment to collect the best art made in New Hampshire in order to reflect the region's vital cultural traditions. An annual roster of 4-5 special exhibitions that complements the permanent collection displays are interpreted through a range of programs including guided tours, hands-on art making activities, artist talks, and such resources as family guides. Approximately 6,500 students visit the Currier each year on a formal tour program. The Art Center offers year-round studio programs with annual enrollments of over 2,000 students from 40 surrounding communities. The Zimmerman House draws about 4,000 visitors annually on guided tours of about 12 visitors each. Outreach programs reach public schools, libraries, social service agencies and community organizations throughout the state. The Currier's collections are accessible to the public through the online collections database (www.currier.org), which includes images and basic data for all 11,000 objects in the collections and extended text entries for 250 key works. It also provides supplemental information to support the online curriculum for educators (curriculum.currier.org). The Currier's mission, approved by the Board in 1994, embraces the following principles: The Currier Museum of Art is committed to providing stimulating, diverse, and enjoyable encounters with original works of art and, in so doing, hopes to inspire the hearts, minds, and imagination of its members and visitors. It is dedicated to high standards of exhibition, preservation, research, interpretation and education, and enhancement of its collection. The Currier is determined to serve all age groups and a culturally varied audience from New Hampshire and the surrounding region. The Currier's vitality depends upon its responsiveness to changes in the arts and in society while maintaining a sound financial base on which to expand its activities. Description of Intended Use of Endowment Funds: Part V, Line 4: The endowment funds are used for museum operations, art acquisition, conservation, library book purchases, and scholarships. The endowment fund presentation, including prior year classifications, in Part V has been restated to conform to the presentation in the audited financial statements. Description of Uncertain Tax Positions Under FIN 48: Part X: The Internal Revenue Service, in a letter dated August 17, 1973, determined that the Museum is a publicly-supported charity under Internal Revenue Code Section 501(c)(3) and, therefore, not subject to federal income taxes or federal excise taxes imposed upon private foundations. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. In accordance with accounting principles generally accepted in the United States of America, assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Management has evaluated the Museum's tax positions taken on its filed tax returns and concluded that the Museum has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. The Museum is no longer subject to income tax examinations by the federal or state tax authorities for years before 2009. Part XII, Line 2d - Other Adjustments: Rental Expenses 7,653. Part XIII, Line 2d - Other Adjustments: Rental Expenses 7,653. 1 Scholarships are provided to students in need to attend studio art classes 66 13770 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Applicants are required to fill out scholarship applications and provide either two copies of wage receipts or their latest tax return (Form 1040). X X X 0 0 0 0 0 0 0 0 0 Susan E Strickler 177246 0 0 0 0 0 5366 0 5176 0 187788 0 0 0 NHHEFA 020279866 NONEAVAIL 2009-07-23 10700000 Refinance prior issue 0 0 0 242412 8730920 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 Schedule K Supplental Information Prepayments of the bond principal totaling $1,969,080 have been made since 7/23/2009 leaving a principal balance of $8,730,920 as of 6/30/2012 Part I-Purpose Payment to Lehman Brothers Commercial Bank as a result of early termination of an existing interest rate swap. Part V During the fiscal year covered by this return, the Currier was in the process of adopting written procedures to ensure that violations of federal tax requirements are timely identified and corrected. The procedures will be in place at the close of the next fiscal year. X 39 0 X 1 6094 Stock exchange price 2 0 1 1 Third Party Use: Part I, Line 32b: The Organization sells all donations of securities through a third-party stockbroker. All donations of securities are sold as soon as administratively possible. Non Reporting of Revenue: Part I, Line 33: Part I, Line 1 - A zero was reported on Form 990, Part VIII, Line g, as the Museum did not capitalize its collections or report them as revenue, as allowed under SFAS 116. Form 990, Part VI, Section A, line 2 Kimon S. Zachos and John H. Morison, III have a business relationship. Form 990, Part VI, Section B, line 11 The process for review of Form 990: This Form 990 was reviewed in depth by the Finance Committee, the Board Treasurer, Vice President, President, the Director, and the CFO with the outside CPA firm who prepared the return. The full Board does receive a copy of the Form 990 prior to filing; however, the Finance Committee was authorized by the Board of Trustees to review IRS Form 990 prior to filing in lieu of full Board review. Form 990, Part VI, Section B, line 12c Compliance with the Conflict of Interest Policy: The Currier Museum of Art Conflict of Interest Policy requires every trustee or officer to disclose any known or potential conflict of interest to the Board President prior to any action, decision, or vote occurring with the potential conflict. The trustee or officer having the potential conflict is not permitted to participate when the determination is made or when a decision or vote is taken where a conflict of interest may exist. Annually, every trustee and officer is required to disclose any conflicts of interest, or attest to the fact that there are none, in writing. The signed statements are sent to the CFO and the statements are reviewed by the Director and Board President. No conflicts of interest between the Currier Museum of Art and any member of its board or officers have existed to date. Form 990, Part VI, Section B, line 15 The Board President annually requests from the Director of Human Resources current and historical compensation for the Director and key employees (executive staff). A copy of pertinent salary information found in the A.A.M.D. (American Association of Museum Directors) annual salary survey is also made available to the President. Form 990s of other similar organizations are looked at when reviewing key employee compensation. An annual performance evaluation of the Director is done by the Board of Trustees. Evaluations are sent by each board member to the Board President. During an executive session of the Board of Trustees, the Director's performance is reviewed and annual compensation is determined. A signed letter from the Board President approving the Director's compensation is given to the CFO and the Director of Human Resources. Form 990, Part VI, Section C, line 19 Governing documents, the conflict of interest policy, and financial statements are made available to public upon request. Copies of these documents are also available to the public in the Currier Library during public hours. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -1,000,639. Form 990, Part XII, Line 2c: Oversight of audit and financial statements: The Finance Committee of the Currier Museum of Art meets annually with audit/CPA firm which includes an executive session where the Director and the CFO are not present. The audit is completed in accordance with auditing standards generally accepted in the United States of America. The draft financial statements and management letter are presented by the CPA Firm and thoroughly reviewed by the Finance Committee. After review and approval by the Finance Committee of the audited financial statements and management letter, the final audit is presented to the full board for review and approval. This process has not changed from the prior year.