2013-03-05T15:34:31-06:00 2012-06-30 860683059 BEACHFLEISCHMAN PC PO BOX 64130 TUCSON AZ 857284130 990 2011-07-01 866006371 TUCSON MUSEUM OF ART AND HISTORIC BLOCK INC TUCS 5206243333 140 NORTH MAIN AVENUE TUCSON AZ 85701 ROBERT KNIGHT 5206243333 2013-02-18 1 KAREN K MCCLOSKEY CPA P00099644 5203214600 2011 2016-02-25 16:41:14Z ROBERT KNIGHT 140 NORTH MAIN AVENUE TUCSON AZ 85701 5799977 0 X WWW.TUCSONMUSEUMOFART.ORG X 1975 AZ PROVIDING VISUAL ARTS EXHIBITIONS AND EDUCATIONAL PROGRAMS TO SOUTHERN ARIZONA. 33 33 74 300 0 0 1373052 2255648 209823 218772 102954 -103027 645097 608359 2330926 2979752 0 0 0 0 1276894 1301366 0 0 313546 1034489 1092151 2311383 2393517 19543 586235 5843538 6410391 217816 180798 5625722 6229593 X CONNECTING ART TO LIFE. 0 0 1234571 148610 CURATORIAL & EXHIBITIONS: TO ACHIEVE ITS MISSION OF "CONNECTING ART TO LIFE", THE TUCSON MUSEUM OF ART AND HISTORIC BLOCK PRESERVES AND INTERPRETS ITS COLLECTIONS OF THE ART OF LATIN AMERICA, ART OF THE AMERICAN WEST, AND MODERN AND CONTEMPORARY ART; CARES FOR AND INTERPRETS FIVE SIGNIFICANT EL PRESIDIO HISTORIC PROPERTIES; AND PRODUCES RELATED EXHIBITIONS, EDUCATION PROGRAMS, AND PUBLICATIONS WHICH EXPAND UNDERSTANDING AND APPRECIATION OF THESE UNIQUE COMMUNITY RESOURCES. THE MUSEUM WAS PLEASED TO DISPLAY 9 REMARKABLE EXHIBITIONS DURING ITS 2011-2012 FISCAL YEAR. THE FOLLOWING ARE JUST A SAMPLE OF THE RICH ARTISTIC HERITAGE MADE AVAILABLE TO THE PUBLIC:WHO SHOT ROCK AND ROLL: A PHOTGRAPHIC HISTORY 1955 TO THE PRESENT, ORGANIZED BY THE BROOKLYN MUSEUM AND GUEST CURATED BY NOTED PHOTOGRAPHY SCHOLAR GAIL BUCKLAND, FEATURED MORE THAN 180 PHOTOGRAPHS AND VIDEOS BY MORE THAN 100 ARTISTS. THE EXHIBITION EXPRESSED THE VITALITY AND SPIRIT OF ROCK AND ROLL AND ITS IMPACT ON SOCIETY THROUGH THE WORKS CAPTURED BY SOME OF THE MOST NOTABLE PHOTOGRAPHERS IN THE COUNTRY, WHO REVEALED THE INTIMATE AND PUBLIC MOMENTS OF MANY LEGENDS OF ROCK AND ROLL, AS WELL AS THE CROWDS AND FANS WHO HAVE FOLLOWED THEM.FRIDA KAHLO: THROUGH THE LENS OF NICKOLAS MURAY, PRESENTED AN INTIMATE LOOK AT FRIDA KAHLO, MEXICO'S MOST PROLIFIC AND WELL-KNOWN FEMALE ARTIST, THROUGH THE PHOTOGRAPHIC LENS OF HER LONGTIME LOVER AND FRIEND, NICKOLAS MURAY. THROUGH THE 46 COLOR AND BLACK-AND-WHITE PHOTOGRAPHIC PORTRAITS, MURAY BRINGS TO LIGHT KAHLO'S DEEP INTEREST IN HER MEXICAN HERITAGE, HER LIFE AND THE PEOPLE SIGNIFICANT TO HER. THIS TOURING EXHIBITION ORIGINATED FROM THE NICKOLAS MURAY ARCHIVES, ALTA, UTAH. TOUR MANAGEMENT BY THE SMITH KRAMER FINE ART SERVICES, KANSAS CITY, MISSOURI.100 YEARS, 100 RANCHERS, PHOTOGRAPHS BY SCOTT BAXTER, REVEALED THE "REAL WEST" OF ARIZONA - FOUND IN THE HARD WORK, ATTITUDE, AND LIFESTYLE OF RANCHING - THROUGH THE REMARKABLE COLLECTION OF 100 PHOTOGRAPHS. THE EXHIBITION COMPLEMENTED THE CELEBRATION OF THE 100TH ANNIVERSARY OF ARIZONA STATEHOOD, AND FEATURED THE MEN AND WOMEN WHOSE FAMILIES WORKED ON THE OPEN RANGE FOR THE PAST CENTURY OR MORE. BAXTER SOUGHT TO PRESERVE A FASCINATING AND INTEGRAL COMPONENT OF ARIZONA'S HISTORY IN HIS WORK. A SERIES THAT BEGAN ABOUT A DECADE AGO, THE ARTIST TOOK CAPTIVATING IMAGES OF RANCHERS THROUGHOUT THE STATE. 300833 73134 EDUCATION: THE TUCSON MUSEUM OF ART FOSTERS A DEEPER UNDERSTANDING AND APPRECIATION FOR ITS HISTORIC COLLECTIONS THROUGH ITS NUMEROUS EDUCATIONAL PROGRAMS. THE MUSEUM OFFERS A WIDE ARRAY OF PROGRAMS TO THE PUBLIC, INCLUDING: THE YOUTH/PRE-K-12 SCHOOL PROGRAMS, COMMUNITY OUTREACH PROGRAMS, FAMILY PROGRAMS, ACCESSIBLE PROGRAMS, THE RESEARCH LIBRARY AND A CERAMICS STUDIO.22,211 PEOPLE PARTICIPATED IN THE MUSEUM'S PUBLIC PROGRAMS, WHICH ARE DESIGNED TO ENGAGE ALL COMMUNITY MEMBERS IN CONVERSATIONS, LECTURES, GALLERY TOURS AND OTHER EXPERIENCES THAT PROVIDE AN INTERDISCIPLINARY AND MULTI-DIMENSIONAL PERSPECTIVE OF THE PERMANENT COLLECTION AND SPECIAL EXHIBITIONS.THE MUSEUM'S K-12 PROGRAMS TAKE AN INTERACTIVE APPROACH AIMED TO MAKE MEANINGFUL CONNECTIONS BETWEEN ART AND AUDIENCES. 2,024 LOCAL STUDENTS VISITED THE MUSEUM AND WERE INSPIRED TO ENGAGE WITH THE DYNAMISM OF ANCIENT THROUGH CONTEMPORARY CULTURE WHILE DEVELOPING THEIR VISUAL LITERACY SKILLS.THE MUSEUM'S COMMUNITY OUTREACH PROGRAMS IN PARTICIPATION WITH OTHER LOCAL GROUPS HELPED DIMINISH BARRIERS BETWEEN ART AND THOSE WHO MAY NOT HAVE EASY OR DIRECT ACCESS TO THE VISUAL ARTS. ALL TOLD, 2011-2012 SAW 8,974 PEOPLE FROM OUR COMMUNITY PARTICIPATE IN THESE EVENTS. 111212 114637 MUSEUM STORE: THE MUSEUM STORE FEATURES AN IMPRESSIVE SELECTION OF WORKS BY ARIZONA'S MOST TALENTED ARTISTS AND CRAFTSPEOPLE. MANY OF THE WORKS ARE ON CONSIGNMENT FROM LOCAL ARTISANS WHILE OTHERS ARE PURCHASED FOR RESALE. THE STORE EXISTS TO PROVIDE AN AVENUE OF EXPOSURE FOR THE LOCAL ART COMMUNITY AND SUPPLY TUCSON WITH A VENUE FOR LOCAL TALENT! 1646616 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 1 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 7 7 1 74 1 0 0 0 0 0 1 1 0 0 0 0 X 33 33 0 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 0 1 1 0 AZ X KATIE HIEDEMAN CHIEF FINANCIAL OFFICER 5206242333 140 NORTH MAIN AVENUE TUCSON AZ 85701 AMY J ADAMS 2.00 X 0 0 0 LARRY ADAMSON 2.00 X 0 0 0 ANDY ANDERSON 2.00 X 0 0 0 JOYCE ANICKER 2.00 X 0 0 0 ALICE BAKER 2.00 X 0 0 0 GAIL BIRIN 2.00 X 0 0 0 JOYCE BROAN 2.00 X 0 0 0 MARY JO BROWN 2.00 X 0 0 0 MERLIN COHEN 2.00 X 0 0 0 JAMES GLASSER 2.00 X 0 0 0 JOHN GOODMAN 2.00 X 0 0 0 FRANK HAMILTON 2.00 X 0 0 0 MICHAEL HANSON 2.00 X 0 0 0 KATHARINE HARDIMAN-FRANK 2.00 X 0 0 0 ART HITTNER 2.00 X 0 0 0 JOAN JACOBSON 2.00 X 0 0 0 MICHAEL JETTE 2.00 X 0 0 0 MICHAEL KASSER 2.00 X 0 0 0 STEVE LEAL 2.00 X 0 0 0 ANNE LYMAN 2.00 X 0 0 0 BARBARA MOYLAN 2.00 X 0 0 0 PAM PARRY 2.00 X 0 0 0 LINDA ROBIN 2.00 X 0 0 0 JIM ROWLEY 2.00 X 0 0 0 JOHN SCHAEFER 2.00 X 0 0 0 TAMARA SHADBOLT 2.00 X 0 0 0 CHALENE WELSH 2.00 X 0 0 0 JACK WESTENBORG 2.00 X 0 0 0 SHEILA SAXBERG 2.00 X X 0 0 0 HAROLD H KITAY 2.00 X X 0 0 0 JEAN COOPER 2.00 X X 0 0 0 SUSAN WARMACK 2.00 X X 0 0 0 HARRY GEORGE 2.00 X X 0 0 0 ROBERT KNIGHT 40.00 X 141483 0 10231 KATIE HIEDEMAN 40.00 X 63576 0 5218 205059 0 15449 1 0 1 0 0 192178 327698 1735772 145009 2255648 MUSEUM ADMISSIONS 900099 137904 137904 TUITION & EDUCATION 611600 73134 73134 EXHIBITIONS 900099 7734 7734 218772 29307 29307 113613 0 113613 113613 113613 1525376 1657710 -132334 -132334 -132334 805903 327698 680404 125499 125499 607500 355862 251638 251638 240886 126249 114637 114637 MISCELLANEOUS 900099 2972 2972 2972 2979752 336381 0 387723 232143 79448 94659 58036 890024 691724 72493 125807 9878 8077 1713 88 78878 60214 5156 13508 90443 64662 11582 14199 27547 27547 205606 140880 53834 10892 71324 64729 316 6279 143506 77671 16974 48861 270900 203925 66951 24 35111 11399 6930 16782 198860 149145 49715 10792 5800 4992 ART ACQUISITIONS 65120 65120 EQUIPMENT 27990 4648 11674 11668 MISCELLANEOUS 20715 8688 8819 3208 LECTURERS & PERFORMERS 14680 10486 4194 2393517 1646616 433355 313546 149956 128433 66002 15935 25091 47483 13028 10293 34463 30462 8718261 4967256 3888894 3751005 1643395 1031892 13208 11381 9501 1383507 5843538 6410391 88267 69193 129549 111605 217816 180798 X 3512131 3072256 635965 581653 1477626 2575684 5625722 6229593 5843538 6410391 X 586235 17636 X 0 1 1 X 0 X 667007 1234103 1004918 1373052 2255648 6534728 389150 400824 400824 400824 400824 1992446 1056157 1634927 1405742 1773876 2656472 8527174 70041 8457133 267347 220546 236869 243600 142920 1111282 774163 415035 376379 339744 377137 2282458 11920914 3241480 0.70940 0.63430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 1845323 1098058 -69807 77658 2795916 1390363 256945 252499 54484 1845323 1367516 29356 6509 1390363 1592142 -126421 98205 1367516 0.00000 0.92000 0.08000 1 0 5424593 2425061 2999532 1849906 1322648 527258 1048628 887178 161450 395134 332369 62765 3751005 OTHER ASSETS 9501 RESTRICTED CASH AND CASH EQUIVALENTS 638866 RESTRICTED ENDOWMENT RECEIVABLE 735140 1383507 2979752 2393517 586235 17636 17636 603871 4208543 17636 48640 66276 4142267 -1162515 -1162515 2979752 3604672 48640 1162515 1211155 2393517 0 2393517 PART III, LINE 1A: THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS DECREASES IN TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. GIFTS OF CASH RESTRICTED BY DONORS FOR THE PURCHASE OF ART ARE REPORTED AS TEMPORARILY RESTRICTED NET ASSETS. CONTRIBUTED COLLECTION ITEMS AND REFERENCE BOOKS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. DURING 2012 AND 2011, THE MUSEUM RECEIVED $417,565 AND $647,375 OF CONTRIBUTED ART (UNAUDITED) NOT RECORDED IN THE STATEMENT OF FINANCIAL POSITION, AS IN ACCORDANCE WITH THEIR POLICY. PROCEEDS FROM DE-ACCESSIONS OR INSURANCE RECOVERIES, IF ANY, ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE TUCSON MUSEUM OF ART AND HISTORIC BLOCK CONNECTS ART TO LIFE BY INSPIRING DISCOVERY, CREATIVITY, AND CULTURAL UNDERSTANDING THROUGH MEANINGFUL, ENGAGING EXPERIENCES. TO ACHIEVE ITS MISSION, THE TUCSON MUSEUM OF ART AND HISTORIC BLOCK PRESERVES AND INTERPRETS ITS COLLECTIONS OF ART OF THE AMERICAS, ART OF THE AMERICAN WEST, AND MODERN AND CONTEMPORARY AMERICAN ART; CARES FOR AND INTERPRETS FIVE SIGNIFICANT EL PRESIDIO HISTORIC PROPERTIES; AND PRODUCES RELATED EXHIBITIONS, EDUCATIONAL PROGRAMS, AND PUBLICATIONS WHICH EXPAND UNDERSTANDING AND APPRECIATION OF THESE UNIQUE COMMUNITY RESOURCES. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MUSEUM'S ENDOWMENTS CONSIST OF TWO FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES TO INCLUDE BOTH INCOME AND COLLECTION PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FIN 48 (ASC 740) FINANCIAL STATEMENT FOOTNOTE: GAAP REQUIRES MANAGEMENT TO PERFORM AN EVALUATION OF ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE MUSEUM'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. THIS EVALUATION IS REQUIRED TO BE PERFORMED FOR ALL OPEN TAX YEARS, AS DEFINED BY THE VARIOUS STATUTES OF LIMITATIONS, FOR FEDERAL AND STATE PURPOSES. THE MUSEUM IS ONLY SUBJECT TO INCOME TAXES ON UBTI AS APPLICABLE. AS A RESULT, THE MUSEUM IS REQUIRED TO FILE INFORMATIONAL RETURNS FOR FEDERAL AND STATE PURPOSES AND, IF IT HAS UBTI, FEDERAL AND STATE INCOME TAX RETURNS. WITH LIMITED EXCEPTIONS, THE MUSEUM IS NO LONGER SUBJECT TO TAX EXAMINATION FOR ANY YEARS EARLIER THAN 2009 FOR FEDERAL AND 2008 FOR STATE. MANAGEMENT HAS PERFORMED ITS EVALUATION OF TAX POSITIONS TAKEN ON ALL OPEN TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. PART XII, LINE 4B - OTHER ADJUSTMENTS: DIRECT EXPENSES OF FUNDRAISING EVENTS -680,404. DIRECT EXPENSES OF GAMING ACTIVITIES -355,862. COST OF GOODS SOLD -126,249. PART XIII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES OF FUNDRAISING EVENTS 680,404. DIRECT EXPENSES OF GAMING ACTIVITIES 355,862. COST OF GOODS SOLD 126,249. CENTRAL AMERICA AND THE CARIBBEAN 0 0 FUNDRAISING TRIP TO CUBA 166997 0 0 0 0 0 0 166997 0 166997 0 0 0 0 0 0 METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: ACTUAL COST ARTISANS MARKET 352888 352888 259363 CRUSH 394673 274128 120545 14117 55784 2400 88953 13 386040 53570 332470 259787 1133601 327698 805903 14117 55784 2400 608103 680404 125499 607500 294450 61412 0 607500 294450 61412 355862 251638 AZ 0 ARIZONA PERMITS ORGANIZATIONS EXEMPT UNDER ARS 43-1201, PARAGRAPH 1, 2, 4, 5, 6, 7, 10, OR 11 TO CONDUCT RAFFLES SUBJECT TO CERTAIN RESTRICTIONS: 1. NO MEMBER, DIRECTOR, OFFICER, EMPLOYEE OR AGENT OF THE ORGANIZATION MAY RECEIVE DIRECT OR INDIRECT BENEFIT FROM THE RAFFLE, OTHER THAN BEING ABLE TO PARTICIPATE IN THE RAFFLE ON AN EQUAL BASIS WITH ALL OTHER PARTICIPANTS. 2. THE ORGANIZATION HAS BEEN IN EXISTENCE CONTINUOUSLY IN THE STATE FOR A 5-YEAR PERIOD IMMEDIATELY BEFORE CONDUCTING THE RAFFLE. 3. NO PERSON EXCEPT A BONA FIDE LOCAL MEMBER OF THE ORGANIZATION MAY PARTICIPATE DIRECTLY OR INDIRECTLY IN THE MANAGEMENT, SALES OR OPERATION OF THE RAFFLE. THE TUCSON MUSEUM OF ART IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC 501(C)(3), AND EXEMPT FROM ARIZONA INCOME TAX UNDER ARS 43-1201 PARAGRAPH 4. THEREFORE, IT IS PERMITTED TO CONDUCT RAFFLES SUBJECT TO THE ABOVE RESTRICTIONS. THE TUCSON MUSEUM OF ART DOES NOT ALLOW EMPLOYEES TO PURCHASE RAFFLE TICKETS. 0 1 0 1.00000 KATIE HIEDEMAN 140 N MAIN AVE TUCSON AZ 85701 0 KATIE HIEDEMAN 6787 OVERSIGHT AND RECORDKEEPING. X 0 X 1 1 X X 0 0 0 0 0 0 0 0 0 ROBERT KNIGHT 141483 0 0 0 0 0 4725 0 5506 0 151714 0 0 0 X 106 SEE PART II X 34226 SALES PRICE X 362 110783 SALES PRICE 5 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: NO AMOUNT WAS REPORTED ON FORM 990, PART VIII, FOR DONATIONS OF ART BECAUSE THE MUSEUM DOES NOT CAPITALIZE ITS COLLECTIONS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S BYLAWS WERE REVISED TO CREATE A MORE STREAMLINED, FLEXIBLE AND UPDATED GOVERNING DOCUMENT. THE AMENDED AND RESTATED BYLAWS WERE APPROVED BY THE BOARD AND BECAME EFFECTIVE MAY 5, 2012. SUMMARY OF KEY CHANGES * SIMPLIFY THE DEFINITION OF MEMBERSHIP AS BEING OPEN, UPON PAYMENT OF DUES, TO ANY PERSON OR ENTITY. * SCHEDULING THE ANNUAL MEETING MORE FLEXIBLY. HOLDING IT BEFORE THE END OF THE CALENDAR YEAR ALLOWING TIME FOR FINANCIAL SUMMARIES TO BE COMPLETED. * ALLOWING THE PRESIDENT TO CALL SPECIAL MEETINGS OF THE MEMBERS AT ANYTIME WITHOUT THE WRITTEN REQUEST OF 30% OF THE MEMBERSHIP. * DEFINING A QUORUM AT MEETINGS OF THE MEMBERS AS THOSE PRESENT. * LEAVING THE NUMBER OF BOT MEMBERS CAPPED AT 35, BUT NOT COUNTING EX-OFFICIO OR TRUSTEES EMERITI IN THE TOTAL. * SIMPLIFY THE NOMINATION AND ELECTION PROCEDURE TO STATE THAT THE COMMITTEE ON TRUSTEES MAY PRESENT CANDIDATES FOR CONSIDERATION (FOR BOARD MEMBERSHIP) AT ANY MEETING. * NOTIFYING A BOT MEMBER BY VERIFIABLE MEANS RATHER THAN BY REGISTERED MAIL THAT S/HE MAY BE REMOVED FROM OFFICE. * REMOVING SPECIFIC LANGUAGE ABOUT TRUSTEE FINANCIAL OBLIGATIONS AND EVENT PARTICIPATION AS THESE OBLIGATIONS AND EVENTS MAY CHANGE. THEY CAN BE OUTLINED IN THE TRUSTEE AGREEMENT. * INCREASING THE NUMBER OF TRUSTEES EMERITI FROM 5 TO 7. * NOT INCLUDING TRUSTEES EMERITI OR EX-OFFICIO MEMBERS FOR THE PURPOSES OF ESTABLISHING THE 35 MEMBER BOT CAP. * REPLACING ALL REFERENCES TO AD-HOC OR AFFILIATE BOT MEMBERS TO EX-OFFICIO MEMBERS. * UPDATING METHODS FOR MEETING NOTIFICATION, ATTENDANCE AND VOTING TO INCLUDE NEW TECHNOLOGIES. * SHORTENING ADVANCE NOTICE FOR SPECIAL MEETINGS OF THE BOARD OF TRUSTEES FROM 7 TO 3 DAYS. * CHANGING THE MINIMUM NUMBER OF REGULAR BOT MEETINGS FROM 8 TO 6 (WITH NO INTENTION OF CHANGING OUR CURRENT PRACTICE OF MEETING 8-9 TIMES PER YEAR). * DEFINING A QUORUM AS THE MAJORITY OF VOTING TRUSTEES IN ATTENDANCE. * ALLOWING INVITED GUESTS (EXPERT OR OTHER) WHEN APPROPRIATE TO EXECUTIVE SESSIONS. * CLARIFYING THE TERM OF OFFICE AS HAVING BEGUN ON THE FIRST DAY OF THE FISCAL YEAR (FOR WHICH THEY ARE ELECTED) AND ENDING ON THE LAST DAY OF THAT FISCAL YEAR, RATHER THAN IMMEDIATELY FOLLOWING THE ANNUAL MEETING. * ADDING DESCRIPTIVE LANGUAGE TO EACH OFFICER POSITION TO REFLECT THEIR GENERAL RESPONSIBILITIES. * REDUCING THE LIST OF COMMITTEES DESIGNATED AS STANDING COMMITTEES TO: EXECUTIVE; COMMITTEE ON TRUSTEES; FINANCE; AND COLLECTIONS. * DESIGNATING THE TREASURER AS CHAIR OF THE FINANCE COMMITTEE. * DESIGNATING THE CHAIRS OF STANDING AND OTHER COMMITTEES TO BE MEMBERS OF THE EXECUTIVE COMMITTEE. * ADDING VOTING POWERS FOR THE EXECUTIVE DIRECTOR AND PRESIDENT IN THEIR EX-OFFICIO ROLES ON THE COLLECTIONS COMMITTEE (AS ESTABLISHED IN THE COLLECTIONS POLICY). * DEFINING THE COMMITTEE ON TRUSTEES AS BEING MADE UP OF ELECTED TRUSTEES AND TRUSTEES EMERITI. * ESTABLISHING THE MINIMUM NUMBER OF MEMBERS OF A COMMITTEE AS TWO (TRUSTEES). * ELIMINATING REFERENCE TO ANY PRESCRIBED NUMBER OF TRUSTEES PER COMMITTEE OR TO A RATIO OF TRUSTEES TO OUTSIDE COMMITTEE MEMBERS. * ADDING A METHODOLOGY FOR DISSOLVING OTHER (NON STANDING) COMMITTEES. * CHANGING OF THE TITLE OF EXECUTIVE DIRECTOR TO CHIEF EXECUTIVE OFFICER (CEO) IN ALL REFERENCES IN ORDER TO BE CONSISTENT WITH OTHER MUSEUM DOCUMENTS, CONTRACTS AND POSITION DESCRIPTIONS. * ESTABLISHING THE PRESIDENT APPOINT A CEO REVIEW COMMITTEE TO EVALUATE THE PERFORMANCE OF THE CEO ANNUALLY AND REPORT THE EVALUATION RESULTS TO THE BOT. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED BY AN INDEPENDENT CPA AND PROVIDED TO THE CHIEF FINANCIAL OFFICER FOR REVIEW. AFTER THE CPA INCORPORATES ANY REVISIONS SUGGESTED BY THE CHIEF FINANCIAL OFFICER, A DRAFT IS PROVIDED TO ALL MEMBERS OF THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. AFTER THE FINANCE COMMITTEE APPROVES THE FORM 990, A COPY IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY REQUIRES DIRECTORS TO DISCLOSE POTENTIAL CONFLICTS. VOLUNTARY COMPLIANCE IS EXPECTED. IN ADDITION, ON AN ANNUAL BASIS, OFFICERS AND DIRECTORS ARE REQUIRED TO SIGN A STATEMENT ACKNOWLEDGING COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE POLICY COVERS ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD-DELEGATED POWERS. THE PROCEDURE FOR IDENTIFYING IF A CONFLICT EXISTS BEGINS WITH AN INTERESTED PERSON DISCLOSING THE EXISTENCE OF ANY FINANCIAL INTEREST AND ALL MATERIAL FACTS TO THE BOARD OR EXECUTIVE COMMITTEE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR EXECUTIVE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR EXECUTIVE COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. DISINTERESTED PERSONS OR A COMMITTEE MAY INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER TMA CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN TMA'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER IS DETERMINED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THE INITIAL COMPENSATION PACKAGES OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER AND CHIEF FINANCIAL OFFICER WERE DETERMINED USING COMPARABILITY DATA, AND ARE REVISED ANNUALLY FOR COST OF LIVING INCREASES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PUBLISHES ITS ANNUAL REPORT ON ITS WEBSITE, WHICH INCLUDES AUDITED FINANCIAL DATA. GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990 IS AVAILABLE ONLINE AT GUIDESTAR.ORG. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 17,636.