PENNSYLVANIA ACADEMY OF THE FINE ARTS: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- PENNSYLVANIA ACADEMY OF THE FINE ARTS (EIN 23-1352256)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-14
- IRS object ID
- 201321349349300762
- Schema version
- 2011v1.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-14T08:33:22-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 231144520 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TAIT WELLER & BAKER LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1818 MARKET STREET SUITE 2400 | AddressLine1 |
| City | PHILADELPHIA | City |
| State | PA | State |
| ZIP Code | 19103 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 231352256 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PENNSYLVANIA ACADEMY OF THE FINE ARTS | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | PENN | NameControl |
| Phone | 2159727600 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 128 NORTH BROAD STREET | AddressLine1 |
| City | PHILADELPHIA | City |
| State | PA | State |
| ZIP Code | 19102 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JOHN J BERG | Name |
| Title | EVP, FINANCE & ADMINISTRATION | Title |
| Phone | 2159727600 | Phone |
| Date Signed | 2013-05-14 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | MARTIN MAUCH | Name |
| PTIN | P00764633 | PTIN |
| Phone | 2159798800 | Phone |
| Date Prepared | 2013-05-14 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DAVID R BRIGHAM | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 128 NORTH BROAD STREET | AddressLine1 |
| City | PHILADELPHIA | City |
| State | PA | State |
| ZIP Code | 19102 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 22512164 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.PAFA.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1805 | YearFormation |
| State Legal Domicile | PA | StateLegalDomicile |
| Activity Or Mission Description | THE ACADEMY OPERATES A POST-SECONDARY EDUCATIONAL PROGRAM IN FINE ARTS AS WELL AS A MUSEUM COLLECTION OF AMERICAN ART. IN ADDITION, THE ACADEMY SPONSORS FINE ARTS CLASSES FOR ALL AGES AND FREE ART PROGRAMS. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 44 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 44 | NbrIndependentVotingMembers |
| Total Nbr Employees | 373 | TotalNbrEmployees |
| Total Nbr Volunteers | 48 | TotalNbrVolunteers |
| Total Gross UBI | 74581 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -37885 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 3821736 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 4696375 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 12259748 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 12448744 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1370580 | InvestmentIncomePriorYear |
| Investment Income Current Year | 786701 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 196525 | OtherRevenuePriorYear |
| Other Revenue Current Year | 378711 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 17648589 | TotalRevenuePriorYear |
| Total Revenue Current Year | 18310531 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 2969699 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 3229744 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 6829103 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 7203572 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 941768 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 8584153 | OtherExpensePriorYear |
| Other Expenses Current Year | 9197872 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 18382955 | TotalExpensesPriorYear |
| Total Expenses Current Year | 19631188 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -734366 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -1320657 | RevenuesLessExpensesCY |
| Total Assets BOY | 80724548 | TotalAssetsBOY |
| Total Assets EOY | 75919521 | TotalAssetsEOY |
| Total Liabilities BOY | 24526512 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 24316596 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 56198036 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 51602925 | NetAssetsOrFundBalancesEOY |
| Mission Description | THE PENNSYLVANIA ACADEMY OF THE FINE ARTS (PAFA) IS A NATIONAL LEADER IN FINE ARTS EDUCATION THAT BRINGS TOGETHER ARTISTS AND THE PUBLIC THROUGH EXCEPTIONAL TEACHING PROGRAMS, A WORLD-CLASS COLLECTION OF AMERICAN ART, MAJOR EXHIBITIONS AND WIDELY ACCESSIBLE PUBLIC PROGRAMS. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 11767294 | Expense |
| Grants | 3229744 | Grants |
| Revenue | 10149199 | Revenue |
| Description | THE ACADEMY'S POST-SECONDARY FINE ARTS PROGRAM OFFERS PROGRAMS IN PAINTING, PRINT-MAKING, SCULPTING AND DRAWING. THE SCHOOL GRANTS A FOUR YEAR CERTIFICATE, A BACHELOR OF FINE ARTS DEGREE, AND A MASTER OF FINE ARTS DEGREE. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 4141666 | Expense |
| Revenue | 1898799 | Revenue |
| Description | THE ACADEMY OPERATES A GALLERY THAT DISPLAYS GREAT WORKS OF AMERICAN ART. IT IS THE OLDEST SUCH GALLERY IN THE U.S. AND ITS PRINCIPAL BUILDING IS A HISTORICAL STRUCTURE. THE SCHOOL ALSO HOSTS SEVERAL SPECIAL EXHIBITIONS. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 1140886 | Expense |
| Revenue | 768237 | Revenue |
| Description | THE ACADEMY'S LIFELONG EDUCATION AND COMMUNITY PROGRAMS DIVISION SPONSORS FINE ARTS CLASSES FOR ALL AGES, ADULTS, SPECIAL PRE-SCHOOL, ELEMENTARY, MIDDLE SCHOOL AND HIGH SCHOOL CLASSES AND PROGRAMS, SUMMER CAMPS, FAMILY AND FREE ART PROGRAMS. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expense | 17049846 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 1 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 1 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 1 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 194 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 373 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 44 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 44 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | PA | StatesWhereCopyOfReturnIsFiled |
| Own Website | X | OwnWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOHN J BERG | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2159722007 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 128 N BROAD STREET | AddressLine1 |
| City | PHILADELPHIA | City |
| State | PA | State |
| ZIP Code | 19102 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (51 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| KEVIN F DONOHOE | |||||||
| CHAIRMAN | 5.00 | X | X | 0 | 0 | 0 | |
| THOMAS L BENNETT CFA | |||||||
| VICE CHAIR/TREASURER | 5.00 | X | X | 0 | 0 | 0 | |
| HERBERT S RIBAND JR ESQ | |||||||
| VICE CHAIR/SECRETARY | 5.00 | X | X | 0 | 0 | 0 | |
| THOMAS N PAPPAS | |||||||
| VICE CHAIR | 5.00 | X | X | 0 | 0 | 0 | |
| JAMES C BIDDLE | |||||||
| VICE CHAIR | 5.00 | X | X | 0 | 0 | 0 | |
| ROGER H BALLOU | |||||||
| ASSISTANT TREASURER | 5.00 | X | X | 0 | 0 | 0 | |
| ANNE E MCCOLLUM | |||||||
| ASSISTANT SECRETARY | 5.00 | X | X | 0 | 0 | 0 | |
| JOHN B BARTLETT ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| SALLY J BELLET ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| MAX N BERRY ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| KARL BUPP | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| DONALD R CALDWELL | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| KENNETH CATANELLA | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| CHARLES E CHASE | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| LYNN NOWICKI CLARKE | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| JONATHAN L COHEN | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| MONICA DUVALL MD | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| PAULETT EBERHART | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| ROBERT A FISK | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| JOHN A FRY | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| EDWARD T HARVEY | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| GERALD P BARTH | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| ANTHONY A IBARGUEN | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| MARGUERITE LENFEST | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| FRANCIS J LETO | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| WINSTON I LOWE ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| FRANCES M MAGUIRE | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| FRANK MARTUCCI | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| FRANCIS P NEWELL ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| JAMES E O'NEILL ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| STEVE K RITTER | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| GRETCHEN E ROEDE | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| THEODORE O ROGERS JR ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| WILLIAM RULON-MILLER | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| STEVEN L SANDERS | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| WILLIAM H SCHORLING ESQ | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| ALFRED R SHANDS III | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| CAROLE PRICE SHANIS | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| HENRY B DUPONT SMITH | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| MARTHA MCGEARY SNIDER | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| JULIE D SPAHR | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| BARBARA A SYLK | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| ROBERT M TURNER | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| DEBORA C ZUG | |||||||
| TRUSTEE | 5.00 | X | 0 | 0 | 0 | ||
| DAVID R BRIGHAM | |||||||
| PRESIDENT | 40.00 | X | 334408 | 0 | 21820 | ||
| JOHN J BERG | |||||||
| EVP, FINANCE & ADMINISTRAT | 40.00 | X | 167489 | 0 | 11674 | ||
| HARRY L PHILBRICK | |||||||
| DIR OF MUSEUM | 40.00 | 168807 | 0 | 7496 | X | ||
| JEFFREY CARR | |||||||
| EVP, ACADEMIC AFFAIRS | 40.00 | 146045 | 0 | 14046 | X | ||
| MELISSA A DERUITER | |||||||
| EVP, DEVELOPMENT | 40.00 | 143100 | 0 | 10264 | X | ||
| STANISLAUS JOSEF GREIDUS | |||||||
| VP, ADMISSIONS & FINANCIAL | 40.00 | 131751 | 0 | 10185 | X | ||
| MARSHA BRAVERMAN | |||||||
| EVP, MARKETING & COMMUNICATIONS | 40.00 | 120325 | 0 | 5702 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1211925 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 81187 | TotalOtherCompensation |
| Number Individuals GT100 K | 8 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (2 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| STONEBRIDGE LLC | |||||
| 556 BROOME ST | NEW YORK | NY | 10013 | SCULPTURE DESIGN & FABRICATION | 283211 |
| SAYLOR GREGG ARCHITECTS | |||||
| LAND TITLE BLDG STE 1100 100 S B | PHILADELPHIA | PA | 19110 | ARCHITECTS | 129355 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 2 | NumberOfContractorsGT100K |
| Fundraising Events | 217416 | FundraisingEvents |
| Government Grants | 494466 | GovernmentGrants |
| All Other Contributions | 3984493 | AllOtherContributions |
| Noncash Contributions | 355128 | NoncashContributions |
| Total Contributions | 4696375 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | Unrelated Business RevenueUnrelatedBusinessRevenue |
|---|---|---|---|---|
| TUITION AND FEES | 900099 | 10086916 | 10086916 | |
| CONTINUING EDUCATION | 900099 | 768237 | 768237 | |
| WOMENS BOARD REVENUE | 900099 | 711878 | 711878 | |
| RENTALS FOR EXEMPT ACT | 900099 | 486771 | 486771 | |
| MUSEUM ADMISS/COLLECT | 900099 | 394942 | 320361 | 74581 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 12448744 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 864733 | TotalRevenueColumn |
| Exclusion | $864,733 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 3578025 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 3656057 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -78032 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -78032 | TotalRevenueColumn |
| Exclusion | -$78,032 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 231136 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 217416 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 219916 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 11220 | TotalRevenueColumn |
| Exclusion | $11,220 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 630868 | GrossSalesOfInventory |
| Cost Of Goods Sold | 325660 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 305208 | TotalRevenueColumn |
| Related Or Exempt Function Income | 305208 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | MISCELLANEOUS | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 62283 | TotalRevenueColumn |
| Related Or Exempt Function Income | 62283 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 62283 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 18310531 | TotalRevenueColumn |
| Related Or Exempt Function Income | 12741654 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 74581 | UnrelatedBusinessRevenue |
| Exclusion | $797,921 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3229744 | Total |
| Program Services | 3229744 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 551352 | Total |
| Management And General | 551352 | ManagementAndGeneral |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5489147 | Total |
| Program Services | 4579938 | ProgramServices |
| Management And General | 437635 | ManagementAndGeneral |
| Fundraising | 471574 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 152384 | Total |
| Program Services | 113842 | ProgramServices |
| Management And General | 24957 | ManagementAndGeneral |
| Fundraising | 13585 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 583624 | Total |
| Program Services | 384213 | ProgramServices |
| Management And General | 153561 | ManagementAndGeneral |
| Fundraising | 45850 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 427065 | Total |
| Program Services | 319049 | ProgramServices |
| Management And General | 69942 | ManagementAndGeneral |
| Fundraising | 38074 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 74335 | Total |
| Program Services | 13767 | ProgramServices |
| Management And General | 60568 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 35500 | Total |
| Management And General | 35500 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 74082 | Total |
| Program Services | 74082 | ProgramServices |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 61289 | Total |
| Program Services | 2161 | ProgramServices |
| Management And General | 48661 | ManagementAndGeneral |
| Fundraising | 10467 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 674533 | Total |
| Program Services | 669233 | ProgramServices |
| Management And General | 3024 | ManagementAndGeneral |
| Fundraising | 2276 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 946756 | Total |
| Program Services | 785979 | ProgramServices |
| Management And General | 51779 | ManagementAndGeneral |
| Fundraising | 108998 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 85572 | Total |
| Program Services | 85572 | ProgramServices |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 922671 | Total |
| Program Services | 922671 | ProgramServices |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 147784 | Total |
| Program Services | 102449 | ProgramServices |
| Management And General | 7509 | ManagementAndGeneral |
| Fundraising | 37826 | Fundraising |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15370 | Total |
| Program Services | 14895 | ProgramServices |
| Management And General | 100 | ManagementAndGeneral |
| Fundraising | 375 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 760562 | Total |
| Program Services | 760562 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1720196 | Total |
| Program Services | 1720196 | ProgramServices |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 285836 | Total |
| Program Services | 285836 | ProgramServices |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| OUTSIDE AND CONTRACT LA | 1493606 | 1465917 | 24517 | 3172 |
| SPECIAL PROJECTS AND EV | 452128 | 237021 | 53652 | 161455 |
| WOMEN'S BOARD EXPENSES | 446702 | 446702 | ||
| FACILITY RENTAL EXPENSE | 187429 | 187429 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 813521 | Total |
| Program Services | 648588 | ProgramServices |
| Management And General | 116817 | ManagementAndGeneral |
| Fundraising | 48116 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 19631188 | Total |
| Program Services | 17049846 | ProgramServices |
| Management And General | 1639574 | ManagementAndGeneral |
| Fundraising | 941768 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4460842 | BOY |
| EOY | 3522705 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 928590 | BOY |
| EOY | 890748 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1065466 | BOY |
| EOY | 468425 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 686716 | BOY |
| EOY | 654143 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 306565 | BOY |
| EOY | 296970 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 421607 | BOY |
| EOY | 394558 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 62216224 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 14830292 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 48543455 | BOY |
| EOY | 47385932 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14201263 | BOY |
| EOY | 12952015 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 9408881 | BOY |
| EOY | 8590981 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 701163 | BOY |
| EOY | 763044 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 80724548 | BOY |
| EOY | 75919521 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1879313 | BOY |
| EOY | 1472737 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1908574 | BOY |
| EOY | 1300455 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 19773000 | BOY |
| EOY | 19773000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 975000 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 586967 | BOY |
| EOY | 253843 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 378658 | BOY |
| EOY | 541561 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24526512 | BOY |
| EOY | 24316596 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 30302743 | BOY |
| EOY | 27163388 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1167230 | BOY |
| EOY | 526000 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 24728063 | BOY |
| EOY | 23913537 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 56198036 | BOY |
| EOY | 51602925 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 80724548 | BOY |
| EOY | 75919521 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | -1320657 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -3274454 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collect Used For Public Exhibition | X | CollectUsedForPublicExhibition |
| Collect Used For Scholar Research | X | CollectUsedForScholarResearch |
| Collect Used For Preservation | X | CollectUsedForPreservation |
| Collect Used For Loan Or Exch Prgrms | X | CollectUsedForLoanOrExchPrgrms |
| Solicited Assets For Sale | 0 | SolicitedAssetsForSale |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 23689144 | BeginningOfYearBalance |
| Contributions | 3374 | Contributions |
| Investment Earnings Or Losses | -605016 | InvestmentEarningsOrLosses |
| Other Expenditures | 1156990 | OtherExpenditures |
| End Of Year Balance | 21930512 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 20379549 | BeginningOfYearBalance |
| Contributions | 2858 | Contributions |
| Investment Earnings Or Losses | 4174513 | InvestmentEarningsOrLosses |
| Other Expenditures | 867776 | OtherExpenditures |
| End Of Year Balance | 23689144 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 19490389 | BeginningOfYearBalance |
| Contributions | 1320 | Contributions |
| Investment Earnings Or Losses | 1921841 | InvestmentEarningsOrLosses |
| Other Expenditures | 1034001 | OtherExpenditures |
| End Of Year Balance | 20379549 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 26154434 | BeginningOfYearBalance |
| Investment Earnings Or Losses | -5558606 | InvestmentEarningsOrLosses |
| Other Expenditures | 1145409 | OtherExpenditures |
| End Of Year Balance | 19490389 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Permanent Endowment EOY Balance | 1.00000 | PermanentEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2500000 | OtherCostOrOtherBasis |
| Book Value | 2500000 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 57016216 | OtherCostOrOtherBasis |
| Depreciation | 12519303 | Depreciation |
| Book Value | 44496913 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2700008 | OtherCostOrOtherBasis |
| Depreciation | 2310989 | Depreciation |
| Book Value | 389019 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 47385932 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | BENEFICIAL INTERESTS IN PERPETUAL TRUSTS | Description |
| Book Value | 8590981 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 8590981 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | SWAP MARKET VALUATION | Description |
| Amount | $541,561 | Amount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 541561 | TotalOfAmounts |
| Total Revenue | 18310531 | TotalRevenue |
| Total Expenses | 19631188 | TotalExpenses |
| Excess Or Deficit For Year | -1320657 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -448905 | NetUnrealizedGLOnInvestments |
| Other | -$2,825,549 | OtherAmount |
| Total Adjustments | -3274454 | TotalAdjustments |
| Excess Or Deficit Per FS | -4595111 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 14764531 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -448905 | NetUnrealizedGainsInvestments |
| Other Revenues | 219916 | OtherRevenues |
| Revenue Not Rptd F990 | -228989 | RevenueNotRptdF990 |
| Revenue Subtotal | 14993520 | RevenueSubtotal |
| Investment Expenses Not Included | 74082 | InvestmentExpensesNotIncluded |
| Other Revenues Not Included | 3242929 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 3317011 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 18310531 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 16464760 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 219916 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 219916 | ExpensesNotRptdF990 |
| Expenses Subtotal | 16244844 | ExpensesSubtotal |
| Investment Expenses Not Included2 | 74082 | InvestmentExpensesNotIncluded2 |
| Other Expenses Not Included | 3312262 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 3386344 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 19631188 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE ACADEMY HAS REVIEWED ITS TAX POSITIONS AND HAS CONCLUDED THAT NO LIABILITY FOR UNRECOGNIZED TAX BENEFITS SHOULD BE RECORDED RELATED TO UNCERTAIN TAX POSITIONS TAKEN ON FEDERAL AND STATE TAX RETURNS FOR THE OPEN TAX YEARS (2009-2011) OR IS EXPECTED TO BE TAKEN IN THE CURRENT YEAR. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -461,083. COLLECTION ITEMS PURCHASED BUT NOT CAPITALIZED -2,201,563. CHANGE IN MARKET VALUE OF SWAP -162,903. TOTAL TO SCHEDULE D, PART XI, LINE 8: -2,825,549. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EXPENSES 219,916. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | RECLASSIFICATION OF SCHOLARSHIPS 3,229,744. TUITION REMISSION - EXCHANGE STUDENTS 13,185. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EXPENSES 219,916. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | RECLASSIFICATION OF SCHOLARSHIPS 3,229,744. TUITION REMISSION - EXCHANGE STUDENTS 13,185. OTHER LOSSES - SEVERANCE PAYMENT 69,333. | |
| PART III - LINE 1A - WORKS OF ART - FOOTNOTE FROM FINANCIAL STATEMENT THE ACADEMY MAINTAINS A COLLECTION OF RARE AMERICAN ART THAT IS HELD FOR PUBLIC EXHIBITION. THE COLLECTION IS KEPT UNDER CURATORIAL CARE AND IS SUBJECT TO THE ACADEMY'S POLICY THAT REQUIRES THE PROCEEDS FROM THE SALES OF ACCESSIONED COLLECTION ITEMS TO BE USED ONLY TO ACQUIRE OTHER ITEMS FOR COLLECTION. THE ACADEMY DOES NOT RECOGNIZE THE CONTRIBUTIONS OF DONATED COLLECTION ITEMS, AS ITS COLLECTIONS ARE NOT CAPITALIZED. DURING THE YEAR ENDED JUNE 30, 2012 AND 2011, THE ACADEMY HAD DONATED ACCESSIONS WITH APPROXIMATE APPRAISED VALUES TOTALING $1,736,200 AND $877,2000, RESPECTIVELY.COLLECTION ITEMS PURCHASED BUT NOT CAPITALIZED TOTALED $2,201,563 AND $2,243,517 DURING THE YEARS ENDED JUNE 30, 2012 AND 2011, RESPECTIVELY. IN ADDITION, THE ACADEMY RECEIVED $2,650,000 FOR ART ACQUISITION DURING THE YEAR ENDED JUNE 30, 2011. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | THE ACADEMY INCLUDES STATEMENTS IN ITS ADVERTISING THAT THEIR POLICY IS TO NOT DISCRIMINATE AGAINST ANY MINORITY DUE TO RACE,CREED, OR COLOR. |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | THE PENNSYLVANIA ACADEMY OF FINE ARTS RECEIVES FROM TIME TO TIME FINANCIAL ASSISTANCE FROM GOVERNMENT PROGRAMS. |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | WINE AUCTION | NameOfEvent1 |
| Gross Receipts Event1 | 448552 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 217416 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 231136 | GrossRevenueEvent1 |
| Non Cash Prizes Event1 | 4730 | NonCashPrizesEvent1 |
| Rent Facility Costs Event1 | 90112 | RentFacilityCostsEvent1 |
| Food And Beverage Event1 | 77963 | FoodAndBeverageEvent1 |
| Entertainment Event1 | 9613 | EntertainmentEvent1 |
| Other Direct Expenses Event1 | 37498 | OtherDirectExpensesEvent1 |
| Gross Receipts Total | 448552 | GrossReceiptsTotal |
| Charitable Contributions Total | 217416 | CharitableContributionsTotal |
| Gross Revenue Total Events | 231136 | GrossRevenueTotalEvents |
| Non Cash Prizes Total Events | 4730 | NonCashPrizesTotalEvents |
| Rent Facility Costs Total Events | 90112 | RentFacilityCostsTotalEvents |
| Food And Beverage Total Events | 77963 | FoodAndBeverageTotalEvents |
| Entertainment Total Events | 9613 | EntertainmentTotalEvents |
| Other Direct Expenses Total Events | 37498 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 219916 | DirectExpenseSummaryEvents |
| Net Income Summary | 11220 | NetIncomeSummary |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS | TypeOfGrant |
| Number Of Recipients | 324 | NumberOfRecipients |
| Amount Of Cash Grant | 3229744 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: THE AMOUNT OF FUNDS DISTRIBUTED IS COMPARED WITH INDIVIDUAL STUDENT ACCOUNTS TO INSURE A BALANCE OF FUNDS. STUDENT FINANCIAL NEED IS EVALUATED TO INSURE STUDENTS DO NOT RECEIVE AN OVER AWARD ACCORDING TO THE GUIDELINES OF THE FEDERAL GOVERNMENT. STUDENTS RECEIVING GRANT FUNDS ARE MONITORED FOR ACADEMIC PROGRESS CONCERNING GRADE POINT AVERAGE AND COMPLETED NUMBER OF COURSES ONCE A YEAR. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (5 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID R BRIGHAM | |||||||||||||
| 309048 | 0 | 25000 | 0 | 360 | 0 | 11410 | 0 | 10410 | 0 | 356228 | 0 | 0 | 0 |
| JOHN J BERG | |||||||||||||
| 166562 | 0 | 0 | 0 | 927 | 0 | 6663 | 0 | 5011 | 0 | 179163 | 0 | 0 | 0 |
| HARRY L PHILBRICK | |||||||||||||
| 168462 | 0 | 0 | 0 | 345 | 0 | 6738 | 0 | 758 | 0 | 176303 | 0 | 0 | 0 |
| JEFFREY CARR | |||||||||||||
| 145550 | 0 | 0 | 0 | 495 | 0 | 5822 | 0 | 8224 | 0 | 160091 | 0 | 0 | 0 |
| MELISSA A DERUITER | |||||||||||||
| 143000 | 0 | 0 | 0 | 100 | 0 | 5720 | 0 | 4544 | 0 | 153364 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 1A | ReturnReference |
| Explanation | SOCIAL CLUB DUES ARE PAID FOR THE PRESIDENT. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI
Issuer Name IssuerName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Issuer EIN | 232237287 | IssuerEIN |
| CUSIP Number | NONEAVAIL | CUSIPNumber |
| Date Issued | 2010-03-05 | DateIssued |
| Issue Price | 19773000 | IssuePrice |
| Description Of Purpose | REFINANCE DEBT | DescriptionOfPurpose |
| Defeased | 0 | Defeased |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Pool Financing | 0 | PoolFinancing |
Form990 Schedule K Part II Form990ScheduleKPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Proceeds | 19773000 | TotalProceeds |
| Issuance Costs From Proceeds | 381960 | IssuanceCostsFromProceeds |
| Year Of Subst Completion | 2010 | YearOfSubstCompletion |
| Current Refunding | 0 | CurrentRefunding |
| Advance Refunding | 0 | AdvanceRefunding |
| Final Allocation Made | 1 | FinalAllocationMade |
| Adequate Books And Recds Maintaind | 1 | AdequateBooksAndRecdsMaintaind |
Form990 Schedule K Part III Form990ScheduleKPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Owning Bond Financed Property | 0 | OwningBondFinancedProperty |
| Any Lease Arrangements | 0 | AnyLeaseArrangements |
| Mngment Cntrct Bond Financd Prprty | 0 | MngmentCntrctBondFinancdPrprty |
| Any Research Agreements | 0 | AnyResearchAgreements |
| Post Issuance Compliance Procdrs | 1 | PostIssuanceComplianceProcdrs |
Form990 Schedule K Part IV Form990ScheduleKPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8038 T Filed | 0 | Form8038TFiled |
| Variable Rate Issue | 1 | VariableRateIssue |
| Hedge Identified In Books And Recds | 0 | HedgeIdentifiedInBooksAndRecds |
Name Of Hedge Provider NameOfHedgeProvider
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PNC BANK | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Term Of Hedge | 5.000000000000 | TermOfHedge |
| Superintegrated Hedge | 0 | SuperintegratedHedge |
| Hedge Terminated | 0 | HedgeTerminated |
| Gross Proceeds Invested In GIC | 0 | GrossProceedsInvestedInGIC |
| Gross Proceeds Invested | 0 | GrossProceedsInvested |
| Exception To Rebate | 0 | ExceptionToRebate |
Schedule L IRS990ScheduleL
Loan Table LoanTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | DAVID BRIGHAM | NamePerson |
| Purpose Of Loan | SUITABLE HOUSING | PurposeOfLoan |
| Loan From Organization | X | LoanFromOrganization |
| Original Principal | $200,000 | OriginalPrincipalAmount |
| Balance Due | 160000 | BalanceDue |
| Default | 0 | Default |
| Approved By Board | 1 | ApprovedByBoard |
| Written Agreement | 1 | WrittenAgreement |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 160000 | TotalBalanceDue |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 107 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 18 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 219628 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | AVERAGE HIGH/LOW | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Description | WINE AUCTION ITEMS | Description |
| Number Of Contributions | 142 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 135530 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | AUCTION SALE VALUE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 0 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | NON REPORTING OF REVENUE: | Identifier |
| Return Reference | PART I, LINE 33: | ReturnReference |
| Explanation | COLLECTION OR ARTWORK IS NOT CAPITALIZED. PLEASE REFER TO FOOTNOTE FROM FINANCIAL STATEMENT FOUND IN SCHEDULE D, PART XIV WHICH CORRESPONDS TO SCHEDULE D, PART III - LINE 1A. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (7 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | THE ACADEMY USES THE SERVICES OF A TRUST COMPANY WHERE A BOARD MEMBER OF THE ACADEMY IS AN EMPLOYEE, HENRY B. DUP. SMITH, AND THREE BOARD MEMBERS ARE PAID DIRECTORS, DONALD R. CALDWELL, THOMAS N. PAPPAS AND WINSTON I. LOWE, ESQUIRE. ASSETS UNDER MANAGEMENT WITH THIS INVESTMENT COMPANY TOTALED APPROXIMATELY $15,800,000 AND $18,000,000 AS OF JUNE 30, 2012 AND 2011, RESPECTIVELY. FOR THE YEAR ENDED JUNE 30, 2012, THE ACADEMY WAS CHARGED A 0.4% FEE FOR THIS SERVICE. FOR THE YEAR ENDED JUNE 30, 2012, THIS FEE WAS APPROXIMATELY $74,000. IN ADDITION, THIS TRUST COMPANY PROVIDES A LINE OF CREDIT FOR THE ACADEMY; INTEREST EXPENSE PAID DURING THE YEAR FOR THIS LINE OF CREDIT WAS APPROXIMATELY $53,000. ALTHOUGH THE TRUST COMPANY IN QUESTION CHARGES THE ACADEMY FOR ITS SERVICES, IT ALSO MADE SUBSTANTIAL GIFTS TO THE ACADEMY. THE NET CHARGES AFTER SUCH GIFTS RESULTED IN THIS FEE BEING QUITE SMALL. THE QUESTION OF THE TRUST COMPANY'S CHARGES TO THE ACADEMY WAS SUBMITTED TO THE FINANCE COMMITTEE, AND THEN TO THE FULL BOARD OF TRUSTEES. AFTER CONSIDERATION OF THE TRUST COMPANY'S CHARGES, THE TRUST COMPANY'S GIFTS TO THE ACADEMY, AND THE PERFORMANCE OF THE TRUST COMPANY, THE BOARD DECIDED THAT THE RELATIONSHIP WITH THE TRUST COMPANY WAS QUITE BENEFICIAL TO THE ACADEMY. THE ACADEMY WAIVED ANY TECHNICAL CONFLICT WITH THE TRUST COMPANY. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE FORM 990 IS PREPARED BY TAIT, WELLER & BAKER LLP. THE INITIAL REVIEW IS PERFORMED BY THE EXECUTIVE VP OF FINANCE AND ADMINISTRATION AND THE DIRECTOR OF FINANCE. THE FORM 990 IS THEN SENT TO THE AUDIT COMMITTEE FOR REVIEW PRIOR TO AN AUDIT COMMITTEE MEETING. AT THE AUDIT COMMITTEE MEETING, TAIT, WELLER & BAKER LLP REVIEW THE FORM 990 WITH THE AUDIT COMMITTEE. THE FORM 990 IS THEN SENT TO THE BOARD OF TRUSTEES FOR REVIEW WITH ANY CHANGES RECOMMENDED BY THE AUDIT COMMITTEE. BEFORE FILING FORM 990, THE BOARD OF TRUSTEES IS REQUESTED TO REVIEW THE RETURN AND SUBMIT ANY CORRECTIONS, COMMENTS OR QUESTIONS. | |
| FORM 990, PART VI, SECTION B, LINE 12C | DURING THE FISCAL YEAR, EACH MEMBER OF THE BOARD OF TRUSTEES AND EACH SENIOR KEY EMPLOYEE COMPLETES A FORM SETTING FORTH, IF ANY, ANY POTENTIAL CONFLICT OF INTEREST HE/SHE HAS WITH THE ACADEMY. SUCH COMPLETED FORMS ARE RETAINED BY THE VICE-CHAIR/SECRETARY OF THE BOARD. IF ANY CONFLICT OF INTEREST IS IDENTIFIED, IT IS REFERRED TO THE APPROPRIATE COMMITTEE OF THE BOARD, WHICH EXAMINES IT AND REFERS IT TO THE ENTIRE BOARD FOR ACTION. THE BOARD DECIDES WHETHER SUCH CONFLICT IS TO BE WAIVED, ON THE GROUNDS THAT THE TRANSACTION OR RELATIONSHIP IN QUESTION IS FAVORABLE TO THE ACADEMY NOTWITHSTANDING THE CONFLICT, OR WHETHER SUCH RELATIONSHIP OR TRANSACTION IS TO BE NEGATED. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE SEVEN OFFICERS OF THE BOARD OF TRUSTEES (PAFA'S GOVERNING BODY) CONSTITUTE THE COMPENSATION COMMITTEE WHICH DELIBERATES AND DECIDES ON THE COMPENSATION OF THE PRESIDENT/CEO OF THE ORGANIZATION. THE COMMITTEE STUDIES COMPARABILITY DATA OBTAINED FROM SEVERAL SOURCES AND IT MAINTAINS CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION IN THE FORM OF NOTES AND MINUTES MADE BY THE BOARD CHAIR WHICH ARE MAINTAINED IN THE PRIVATE OFFICE OF THE BOARD CHAIR. IN THE PRESIDENT/CEO'S FIRST YEAR IN OFFICE, THE PRESIDENT/CEO AND PAFA ENTER INTO A WRITTEN EMPLOYMENT AGREEMENT WHICH EMBODIES THE DECISIONS ON COMPENSATION. IN EACH SUCCEEDING YEAR OF THE PRESIDENT/CEO'S TENURE, THE COMPENSATION COMMITTEE REVIEWS THE COMPENSATION AND MAKES ANY ADJUSTMENTS. WITH RESPECT TO COMPENSATION OF OTHER OFFICERS OR KEY EMPLOYEES OF PAFA, RECOMMENDATIONS ARE FIRST MADE BY THE PRESIDENT/CEO (AFTER HIS INTERNAL PROCESS OF CONSULTATION WITH HIS SENIOR STAFF, INCLUDING THE EXECUTIVE VICE-PRESIDENT OF FINANCE AND ADMINISTRATION) WHICH ARE EMBODIED IN THE ANNUAL BUDGET AND REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD AND BY THE BOARD'S FINANCE COMMITTEE (WHICH IS CHAIRED BY THE VICE-CHAIR AND TREASURER OF THE BOARD). THE ANNUAL BUDGET, WHICH EMBODIES THE COMPENSATION OF THE PRESIDENT/CEO (AS INITIALLY PROPOSED BY THE BOARD'S COMPENSATION COMMITTEE) AND THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES (AS INITIALLY PROPOSED BY THE PRESIDENT/CEO) IS ULTIMATELY PRESENTED TO THE ENTIRE BOARD OF TRUSTEES BY THE BOARD'S FINANCE COMMITTEE FOR CONSIDERATION, POSSIBLE AMENDMENT, AND FINALLY ADOPTION. | |
| FORM 990, PART VI, SECTION C, LINE 19 | THE DOCUMENTS ARE MAINTAINED IN THE FINANCE OFFICE AND ARE AVAILABLE TO THE PUBLIC UPON REQUEST. | |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -448,905. CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUSTS -461,083. COLLECTION ITEMS PURCHASED BUT NOT CAPITALIZED -2,201,563. CHANGE IN MARKET VALUE OF SWAP -162,903. TOTAL TO FORM 990, PART XI, LINE 5: -3,274,454. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XII, LINE 2C | THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES APPROVES THE ENGAGEMENT LETTER OF THE INDEPENDENT ACCOUNTANT, MEETS WITH AUDITORS ON A PERIODIC BASIS THROUGHOUT THE YEAR, AND RECEIVES AND REVIEWS THE AUDIT REPORT, WHICH IT PASSES ON FOR REVIEW TO THE FINANCE COMMITTEE OF THE BOARD AND TO THE ENTIRE BOARD WITH ITS COMMENTS. |
Comments