2013-05-15T18:23:53-05:00 2012-06-30 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD STE 700 LOS ANGELES CA 900243783 990 2011-07-01 952264067 MUSEUM ASSOCIATES MUSE 3238576142 5905 WILSHIRE BLVD LOS ANGELES CA 90036 ANN ROWLAND 3238576142 2013-04-16 1 LIOR TEMKIN P00748170 3104773924 2013-04-16 2011 2016-02-24 21:20:13Z LOS ANGELES COUNTY MUSEUM OF ART (LACMA) ANN ROWLAND 5905 WILSHIRE BLVD LOS ANGELES CA 90036 85103479 0 X WWW.LACMA.ORG X 1938 CA SEE SCHEDULE O 53 52 428 555 504308 0 37434663 40644892 33563803 34559276 2949245 2537927 2228384 3004261 76176095 80746356 9500 70000 0 0 24098004 27857814 0 10000 3877199 78806663 84092911 102914167 112030725 -26738072 -31284369 731534508 660462075 431343170 446723962 300191338 213738113 X SEE SCHEDULE O 0 0 34331429 70000 3401232 EXHIBITION, CURATORIAL, CONSERVATION & ART PROGRAMSLACMA PRESENTED 18 SPECIAL EXHIBITIONS AND 26 DEPARTMENTAL ROTATIONS IN FISCAL 2011-2012, FEATURING ARTWORKS FROM ITS OWN COLLECTION AND FROM LENDERS AROUND THE WORLD. PUBLIC PROGRAMS, FILMS, AND CONCERTS ARE DEVELOPED IN COORDINATION WITH SPECIAL EXHIBITIONS. MANY WORKS FROM THE MUSEUM'S COLLECTION OF OVER 100,000 OBJECTS ARE TREATED BY CONSERVATORS, WHILE THE MUSEUM'S RESEARCH LIBRARY AND SCHOLARLY PUBLICATIONS PROVIDE REFERENCE SUPPORT TO MUSEUM STAFF AND OUTSIDE SCHOLARS. ALL OF THESE ACTIVITIES SERVE TO MEET THE GOALS OF CONSERVATION, EXHIBITION AND INTERPRETATION OF THE ART INTO MEANINGFUL AESTHETIC, INTELLECTUAL, AND CULTURAL EXPERIENCES. 24161480 114356 ART ACQUISITIONWORKS OF ART IN ALL MEDIA, FROM EVERY HISTORICAL PERIOD, AND FROM EVERY CORNER OF THE GLOBE ARE PURCHASED TO ENHANCE THE MUSEUM'S PERMANENT COLLECTION. SUCH ADDITIONS CONTRIBUTE TO THE MUSEUM'S GOAL OF COLLECTING SIGNIFICANT WORKS OF ART FROM A BROAD RANGE OF CULTURES AND ERAS. EXPENSES REFLECT FUNDS PAID BY THE MUSEUM FOR THE ACQUISITION OF ARTWORK DURING THE YEAR, BUT DO NOT REFLECT THE VALUE OF GIFTS OF ART. REVENUES REPRESENT THE PROCEEDS OF DEACCESSIONS FROM THE PERMANENT COLLECTION RECEIVED DURING THE FISCAL YEAR, WHICH, IN ACCORDANCE WITH MUSEUM POLICY, ARE RESTRICTED FOR THE FUTURE ACQUISITION OF ARTWORKS. 23593582 FACILITY ENHANCEMENTREPRESENTS INTEREST AND DEPRECIATION EXPENSES RELATED TO RECENT MAJOR FACILITY ADDITIONS, RENOVATIONS, AND PUBLIC ART PROJECTS, INCLUDING THE TRANSPORTATION OF A 340-TON BOULDER THROUGH 22 CITIES IN SOUTHERN CALIFORNIA, TO BECOME THE CENTERPIECE OF MICHAEL HEIZER'S LEVITATED MASS--A MONUMENTAL SCULPTURE NOW INSTALLED ON LACMA'S CAMPUS. 16615172 32582752 IT IS A MUSEUM GOAL TO CONTINUOUSLY EXPAND AND SERVE AUDIENCES OF ALL AGES AND BACKGROUNDS BOTH ON-SITE AND OFF-SITE BY CREATING WELCOMING AND USER-FRIENDLY ENVIRONMENTS AND PROGRAMS. THIS IS ACCOMPLISHED THROUGH A VARIETY OF MEANS, INCLUDING THE MUSEUM MAGAZINE, MUSEUM WEBSITE, SPECIAL EVENTS, PROMOTIONAL CAMPAIGNS, AND ON-SITE STAFF PROVIDING SERVICE TO THE PUBLIC. ANOTHER MUSEUM GOAL IS TO EXTEND THE MUSEUM EXPERIENCE IN THE FULLEST POSSIBLE WAY TO THE WIDEST POSSIBLE AUDIENCE, BOTH PRESENT AND FUTURE. TO ACHIEVE THIS GOAL, THE MUSEUM OFFERS MANY EDUCATIONAL OUTREACH PROGRAMS, SUCH AS PROGRAMS IN LOCAL SCHOOLS AND ON-SITE FOR CHILDREN AND TEENS AS WELL AS CLASSES AND OTHER PROGRAMS AND INTERPRETIVE MATERIALS FOR COLLEGE STUDENTS AND ADULTS. 16615172 32582752 98701663 1 1 0 1 0 0 0 1 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 1 434 0 1 428 1 1 1 0 0 0 0 1 1 0 0 0 0 X 53 52 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X ANN ROWLAND CHIEF FINANCIAL OFFICER 3238576142 5905 WILSHIRE BLVD LOS ANGELES CA 90036 ANDREW GORDON 0.50 X X 0 0 0 TERRY SEMEL 0.50 X X 0 0 0 WILLIAM H AHMANSON 0.50 X X 0 0 0 WILLOW BAY 0.50 X X 0 0 0 ROBERT KOTICK 0.50 X X 0 0 0 LYNDA RESNICK 0.50 X X 0 0 0 TONY RESSLER 0.50 X X 0 0 0 WALLIS ANNENBERG 0.50 X 0 0 0 MARK ATTANASIO 0.50 X 0 0 0 FRANK E BAXTER 0.50 X 0 0 0 COLLEEN BELL 0.50 X 0 0 0 DR REBECKA BELLDEGRUN 0.50 X 0 0 0 NICOLAS BERGGRUEN 0.50 X 0 0 0 DAVID C BOHNETT 0.50 X 0 0 0 SUZANNE DEAL BOOTH 0.50 X 0 0 0 BRIGITTE BREN 0.50 X 0 0 0 EVA CHOW 0.50 X 0 0 0 ANN COLGIN 0.50 X 0 0 0 KELVIN DAVIS 0.50 X 0 0 0 KELLY DAY 0.50 X 0 0 0 JOSHUA S FRIEDMAN 0.50 X 0 0 0 CAMILLA CHANDLER FROST 0.50 X 0 0 0 GABRIELA GARZA 0.50 X 0 0 0 TOM GORES 0.50 X 0 0 0 BRIAN GRAZER 0.50 X 0 0 0 GHADA IRANI 0.50 X 0 0 0 VICTORIA JACKSON 0.50 X 0 0 0 SUZANNE KAYNE 0.50 X 0 0 0 LYN DAVIS LEAR 0.50 X 0 0 0 BRYAN LOURD 0.50 X 0 0 0 MICHAEL LYNTON 0.50 X 0 0 0 ROBERT F MAGUIRE III 0.50 X 0 0 0 JAMIE MCCOURT 0.50 X 0 0 0 RICHARD MERKIN MD 0.50 X 0 0 0 WENDY STARK MORRISSEY 0.50 X 0 0 0 JANE NATHANSON 0.50 X 0 0 0 PETER NORTON 0.50 X 0 0 0 GEOFFREY PALMER 0.50 X 0 0 0 VIVECA PAULIN-FERRELL 0.50 X 0 0 0 ANTHONY N PRITZKER 0.50 X 0 0 0 JANET DREISEN REPPAPORT 0.50 X 0 0 0 EDWARD P ROSKI JR 0.50 X 0 0 0 STEVEN F ROTH 0.50 X 0 0 0 CAROLE BAYER SAGER 0.50 X 0 0 0 FLORENCE SLOAN 0.50 X 0 0 0 ERIC SMIDT 0.50 X 0 0 0 MICHAEL G SMOOKE 0.50 X 0 0 0 BARBRA STREISAND 0.50 X 0 0 0 SANDRA W TERNER 0.50 X 0 0 0 STEVE TISCH 0.50 X 0 0 0 CASEY WASSERMAN 0.50 X 0 0 0 ELAINE WYNN 0.50 X 0 0 0 DASHA ZHUKOVA 0.50 X 0 0 0 MICHAEL GOVAN 40.00 X 900122 151926 213318 FRED GOLDSTEIN 40.00 X 277130 0 50890 ANN ROWLAND 40.00 X 59007 135804 78745 THERESA MORELLO 40.00 X 246632 0 45675 NANCY THOMAS 40.00 X 96741 113376 64639 MARK MITCHELL 40.00 X 181341 0 30465 JANE BURRELL 40.00 X 112855 68395 49479 PETER BODELL 40.00 X 181137 0 27844 JOHN BOWSHER 40.00 X 176716 0 30579 MELISSA BOMES 40.00 X 173714 0 16817 STEPHANIE BARRON 40.00 X 65899 98035 52568 ALVARO VASQUEZ 40.00 X 152821 0 21175 MELODY KANSCHAT 40.00 X 679036 0 8969 3303151 567536 691163 39 1 1 0 MATT CONSTRUCTION 9814 NORWALK BLVD STE 100 SANTA FE SPRINGS CA 90670 CONSTRUCTION 5606518 ALLIED BARTON SECURITY SERVICES EIGHT TOWER BRIDGE 161 WASHINGTON CONSHOHOCKEN PA 19428 SECURITY & PROTECTIVE SERVICES 5506407 BUDCO ENTERPRISES INC 145 PLANT AVE HAUPPAUGE NY 11788 ART MOVEMENT & ASSEMBLY 1301000 SODEXO INC & AFFILIATES 9801 WASHINTONIAN BLVD GAITHERSBURG MD 20878 CUSTODIAL SERVICES 989410 PATINA RESTAURANT GROUP LLC 1150 S OLIVE ST SUITE TG25 LOS ANGELES CA 90015 CATERING 938955 39 7867825 3659393 650220 28467454 1509978 40644892 COUNTY OPERATING CONTR 900099 21584000 21584000 ADMISSIONS 900099 7111053 7111053 EXHIBITION REVENUE 900099 3401232 3401232 PARKING REVENUE 900099 1425238 1425238 TUITION REVENUE 900099 178722 178722 859031 859031 34559276 1648551 61211 1587340 501639 501639 119197 119197 387737 0 387737 387737 387737 1920466 3659393 1920466 0 3975721 2436657 1539064 1539064 ART RENTAL & SALES GAL 532000 443097 443097 FACILITY USE FEE 900099 437953 437953 FOOD SERVICES 900099 273783 273783 191167 191167 1346000 80746356 36098340 504308 3498816 70000 70000 2203824 935494 687645 580685 18921953 14151922 3028149 1741882 3214759 2312717 630824 271218 2065725 1440454 434947 190324 1451553 1044769 271921 134863 47977 13615 34362 108871 108871 10000 10000 881897 881897 11477498 10198433 1115174 163891 618538 614722 3816 5199547 4194326 737712 267509 1187178 671755 462452 52971 68644 68148 496 3443646 3002003 410239 31404 2209361 2067642 119370 22349 15409559 15409559 7889870 7581948 307922 1749601 1737216 7758 4627 ART ACQUISITION 24161480 24161480 ART INSTAL. & PUB. MAT. 4794313 4794313 REMOTE ART OBJECTS 1541500 1541500 HOSPITALITY 1136736 777544 30053 329139 2166695 1912103 178255 76337 112030725 98701663 9451863 3877199 15288830 9754004 95049771 80325377 2513997 9266332 1614031 891324 581395 110272 349078095 36116985 320648827 312961110 231001487 229369387 64836170 17784269 731534508 660462075 5827674 7769783 2084772 5111625 383000000 343000000 3000000 125000 37430724 90717554 431343170 446723962 X 137177031 68863854 141026788 122871809 21987519 22002450 300191338 213738113 731534508 660462075 X -31284369 -55168856 X X 0 1 1 X 0 X 135804657 42565858 40952868 37436219 40644892 297404494 135804657 42565858 40952868 37436219 40644892 297404494 45798182 251606312 9925791 4696222 3381162 2995424 2595913 23594512 54642 34054 -13087 19852 95461 686379 339786 291967 538968 902903 2760003 323854470 153098516 0.77690 0.82340 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: COMMISSIONED PRINTS FACILITY USE FEE INSURANCE CLAIM REV. OTHER REVENUE PATRON PARKING FOOD SERVICES RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3512 3512 112027213 112030725 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 936875 6911 5217 3512 952515 250000 250000 250000 250000 1000000 1500000 PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE C, PART II-A, LINE 1B THE MUSEUM'S GENERAL COUNSEL AND THE MUSEUM'S FORMER PRESIDENT PROVIDED COMMENTS ON LEGISLATION PENDING IN FEDERAL AND STATE LEGISLATIVE BODIES THAT WOULD DIRECTLY AFFECT THE MUSEUM. X X X X X PUBLIC EDUCATION 0 117875345 966090 -2272933 5765255 110803247 106777939 8254 17012210 5923058 117875345 99571155 17948 14057814 6868978 106777939 148060293 37200 -41522387 7003951 99571155 0.47800 0.19900 0.32300 0 0 36143953 36143953 303277925 27645925 275632000 9656217 8471060 1185157 312961110 INTEREST RATE SWAPS 88148360 SPLIT-INTEREST AGREEMENT LIABILITIES 1001138 CAPITAL LEASE OBLIGATION 300025 UNDERFUNDED PENSION LIABILITIES 1268031 90717554 80746356 112030725 -31284369 -2974755 -52194101 -55168856 -86453225 27377713 -2974755 2796466 -178289 27556002 881897 52308457 53190354 80746356 89783814 2796466 2796466 86987348 881897 24161480 25043377 112030725 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICES OF MANY MUSEUMS, ART OBJECTS PURCHASED OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR IN TEMPORARILY RESTRICTED NET ASSETS IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS; CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. PART III, LINE 4: THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 100,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE EARNINGS OF THE MUSEUM'S ENDOWMENT FUNDS SUPPORT EDUCATION AND ART PROGRAMS, AND THE MISSION OF THE MUSEUM. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC NO. 740, "UNCERTAINTY IN INCOME TAXES" ("ASC 740"), THE MUSEUM RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE COMBINED FINANCIAL STATEMENT IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE MUSEUM HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. THE MUSEUM RECOGNIZES POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE. DURING THE YEAR ENDED JUNE 30, 2012, THE MUSEUM PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE COMBINED FINANCIAL STATEMENT OR WHICH MAY HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. JURISDICTION OPEN TAX YEARS FEDERAL 2008 - 2012 STATE 2007 - 2012 PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP -52,194,101. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 2,436,657. SPECIAL EVENT EXPENSES 359,809. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP 52,194,101. COLLECTION ITEMS SOLD 114,356. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COGS 2,436,657. SPECIAL EVENT EXPENSES 359,809. PART XIII, LINE 4B - OTHER ADJUSTMENTS: COLLECTION ITEMS PURCHASED 24,161,480. ART & FILM GALA 2915200 1358158 1557042 1557042 COLLECTOR'S COMMITTEE 2583568 2223762 359806 359806 5 81091 77473 3618 3618 5579859 3659393 1920466 1920466 1920466 0 1 FRIENDS OF WATTS TOWERS 1727 EAST 107TH STREET LOS ANGELES CA 90002 953863633 501(C)(3) 31500 CASH GRANTS N/A TO PROVIDE ASSISTANCE AT WATT'S TOWERS. WATTS HOUSE PROJECT 1726-1750 EAST STREET LOS ANGELES CA 90002 270379225 501(C)(3) 27000 CASH GRANTS N/A REDEVELOPMENT OF AREA ADJACENT TO WATTS TOWERS. MOVE LA CO COMMUNITY PARTNERS 634 SOUTH SPRING STREET 818 LOS ANGELES CA 90014 954302067 501(C)(3) 8500 CASH GRANTS N/A TO PROMOTE EXTENSION OF A SUBWAY LINE TO THE MUSEUM. 3 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE MUSEUM MONITORS THE USE OF GRANT FUNDS ON A CASE-BY-CASE BASIS BUT DOES NOT HAVE OFFICIAL PROCEDURES FOR SUCH MONITORING. GRANT MAKING IS NOT A PRIORITY OF THE MUSEUM. GRANTS ARE MADE ON A CASE-BY-CASE BASIS AND ONLY IF THEY SUPPORT LACMA'S MISSION. X X 1 1 X X X X X X 1 1 0 0 0 0 0 0 0 MICHAEL GOVAN 791822 151926 0 0 108300 0 129799 0 0 83519 1029921 235445 0 0 FRED GOLDSTEIN 277130 0 0 0 0 0 45806 0 5084 0 328020 0 0 0 ANN ROWLAND 59007 135804 0 0 0 0 12201 0 0 66544 71208 202348 0 0 THERESA MORELLO 246632 0 0 0 0 0 33776 0 11899 0 292307 0 0 0 NANCY THOMAS 96741 113376 0 0 0 0 21869 0 0 42770 118610 156146 0 0 MARK MITCHELL 181341 0 0 0 0 0 25381 0 5084 0 211806 0 0 0 JANE BURRELL 112855 68395 0 0 0 0 21611 0 0 27868 134466 96263 0 0 PETER BODELL 181137 0 0 0 0 0 21003 0 6841 0 208981 0 0 0 JOHN BOWSHER 176716 0 0 0 0 0 25280 0 5299 0 207295 0 0 0 MELISSA BOMES 173714 0 0 0 0 0 16817 0 0 0 190531 0 0 0 STEPHANIE BARRON 65899 98035 0 0 0 0 12619 0 0 39949 78518 137984 0 0 ALVARO VASQUEZ 152821 0 0 0 0 0 16701 0 4474 0 173996 0 0 0 MELODY KANSCHAT 176681 0 0 0 502355 0 7067 0 1902 0 688005 0 450000 0 PART I, LINE 1A THE MUSEUM PROVIDES A HOUSE FOR THE DIRECTOR, THE IMPUTED VALUE OF WHICH IS SHOWN IN COLUMN B(III). THE MUSEUM PROVIDED FIRST CLASS TRAVEL FOR THE DIRECTOR IN SELECT INSTANCES WHERE A PARTICULAR CARRIER DID NOT HAVE BUSINESS CLASS SEATS AVAILABLE, TOTALING $12,422. PART I, LINE 1B PART I, LINES 4A-B PETER BODELL RECEIVED A SEVERANCE PAYMENT OF $65,070 ON 8/10/11. MELODY KANSCHAT, FORMER PRESIDENT AND COO, PARTICIPATED IN A 457F PLAN PURSUANT TO AN EMPLOYMENT CONTRACT PROVIDING DEFERRED COMPENSATION. THIS AMOUNT IS ALSO REFLECTED IN COLUMN (C) FOR SCHEDULE J PART II. AMOUNT: $52,355 SUPPLEMENTAL INFORMATION PART III PART II, LINE 2F: THE DEFERRED COMPENSATION CONTRIBUTIONS TO THE FORMER PRESIDENT AND COO'S 457F PLAN WERE ACCRUED AS EXPENSES IN PRIOR FISCAL YEARS. CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YO3 2008-09-10 100000000 CONSTRUCTION 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YE1 2008-09-10 100000000 CONSTRUCTION 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YF8 2008-09-10 95000000 CONSTRUCTION 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YG6 2008-09-10 60000000 CONSTRUCTION 0 0 0 10445000 100000000 3980269 851861 94605194 562677 2010 0 0 0 1 10445000 100000000 3980269 851861 94605194 562677 2010 0 0 0 1 9920000 95000000 3781256 809268 89874934 534543 2010 0 0 0 1 6265000 60000000 2388162 511116 56763116 337606 2010 0 0 0 1 0 0 1 1 0 1 0 0 1 1 0 1 0 0 1 1 0 1 0 0 1 1 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YH4 2008-09-10 28000000 CONSTRUCTION 0 0 0 2925000 28000000 1114475 238521 26489454 157549 2010 0 0 0 1 0 0 1 1 0 1 0 1 0 0 0 0 JOSHUA S FRIEDMAN TRUSTEE OF MUSEUM ASSOCIATES & A MEMBER OF THE FINANCE COMMITTEE. 170643 INV. MGMT FEESMR. FRIEDMAN IS ALSO A FOUNDER, CO-CHAIR AND CO-CHIEF EXECUTIVE OFFICER FOR CANYON CAPITAL ADVISORS LLC (CCA, LLC), AN INVESTMENT FIRM WHICH IS PAID FOR MANAGEMENT SERVICES FOR INVESTING FUNDS OF THE ORGANIZATION, WHICH ARE BASED IN PART, ON REVENUES FROM THE PERFORMANCE OF THESE INVESTMENTS. MUSEUM ASSOCIATES INVESTED WITH CCA, LLC IN 2005, FOUR YEARS PRIOR TO MR. FRIEDMAN JOINING THE BOARD. MUSEUM ASSOCIATES HAS NOT INVESTED ANY ADDITIONAL FUNDS IN CCA, LLC SINCE THE DATE OF THE INITIAL INVESTMENT. 1 X 115 0 SEE PART II X 1 0 SEE PART II X 17 1509978 FMV OF AVG. STOCK VALUE 21 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE MUSEUM USES BROKERS TO SELL SECURITIES AND USES AUCTION HOUSES AND ART DEALERS TO SELL WORKS ON CONSIGNMENT. NON REPORTING OF REVENUE: PART I, LINE 33: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, ART OBJECTS PURCHASED BY OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR IN TEMPORARILY RESTRICTED NET ASSETS IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS; CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. ORGANIZATION MISSION STATEMENT FORM 990, PART I & PART III LINE 1, DESCRIPTION OF ORGANIZATION MISSION: TO SERVE THE PUBLIC THROUGH THE COLLECTION, CONSERVATION, EXHIBITION AND INTERPRETATION OF SIGNIFICANT WORKS OF ART FROM A BROAD RANGE OF CULTURES AND HISTORICAL PERIODS, AND THROUGH TRANSLATION OF THESE COLLECTIONS INTO MEANINGFUL EDUCATIONAL, AESTHETIC, INTELLECTUAL AND CULTURAL EXPERIENCES FOR THE WIDEST ARRAY OF AUDIENCES. THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 100,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. THIS FISCAL YEAR, THE MUSEUM MOUNTED 44 EXHIBITIONS AND PERMANENT COLLECTION INSTALLATIONS, ACQUIRED 825 NEW WORKS OF ART, PROVIDED PROGRAMS FOR 70,921 SCHOOL CHILDREN. IN ADDITION, THE MUSEUM TRANSPORTED A 340-TON BOULDER THROUGH 22 CITIES IN SOUTHERN CALIFORNIA, TO BECOME THE CENTERPIECE OF MICHAEL HEIZER'S LEVITATED MASS- A MONUMENTAL SCULPTURE NOW INSTALLED ON LACMA'S CAMPUS. TOTAL ATTENDANCE AT THE MUSEUM WAS 1,347,018. FORM 990, PART I, LINE 19: WHILE REVENUE LESS EXPENSES FOR LINE 19 IS REFLECTED AS A DEFICIT OF $31,284,369, THIS NUMBER REFLECTS $14,334,410 OF BOND INTEREST, FEES, AND AMORTIZATION COSTS WHICH WERE MORE THAN COVERED BY CASH PAYMENTS ON OUTSTANDING GIFT PLEDGES, $12,901,282 OF ART PURCHASES MADE WITH FUNDS IN-HAND FROM PRIOR FISCAL YEARS, AND $7,889,870 OF DEPRECIATION EXPENSE WHICH IS A NON-CASH ACCOUNTING CHARGE. WITHOUT THESE ITEMS, LINE 19 WOULD SHOW A SURPLUS OF $3,841,193. NOTE THAT THE REGULAR OPERATING BUDGET OF THE MUSEUM ACTUALLY HAD A SURPLUS OF $3,484,643 FOR THE FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY OUTSIDE TAX ACCOUNTANTS AND REVIEWED AND APPROVED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. ONCE APPROVED BY THE AUDIT COMMITTEE, THE AUDIT COMMITTEE REPORTS TO THE FULL BOARD OF TRUSTEES AND THE RETURN IS MADE AVAILABLE TO THE REST OF THE BOARD BEFORE IT IS ELECTRONICALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIRMAN OF THE AUDIT COMMITTEE SENDS AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM TO EACH TRUSTEE, AND, WITH THE OFFICE OF GENERAL COUNSEL, MONITORS RESPONSES AND FOLLOWS UP WITH TRUSTEES TO ACHIEVE AS HIGH A RESPONSE RATE AS POSSIBLE. THE OFFICE OF GENERAL COUNSEL REVIEWS THESE FORMS AND REPORTS SIGNIFICANT CONFLICTS TO THE AUDIT COMMITTEE, WHICH REVIEWS ANY SPECIFIC TRANSACTIONS THAT MIGHT INVOLVE A CONFLICT OF INTEREST WITH A TRUSTEE. THE DIRECTOR OF THE MUSEUM SENDS KEY EMPLOYEES AN ANNUAL CONFLICT OF INTEREST FORM, WHICH KEY EMPLOYEES ARE REQUIRED TO COMPLETE AND RETURN TO THE GENERAL COUNSEL, WHO REVIEWS SUCH FORMS FOR POSSIBLE CONFLICTS AND MONITORS COMPLIANCE WITH THE LACMA'S ETHICS POLICY INCLUDING THE CONFLICT OF INTEREST POLICIES CONTAINED IN THE ETHICS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO AND DIRECTOR OF LACMA IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, WITH THE PARAMETERS ESTABLISHED BY THE EMPLOYMENT AGREEMENT ENTERED INTO BY LACMA AND THE CEO AND DIRECTOR IN 2010. THE DIRECTOR AND CEO DETERMINED THE COMPENSATION OF THE FORMER PRESIDENT AND COO OF LACMA, ALSO SUBJECT TO AN EMPLOYMENT AGREEMENT BETWEEN LACMA AND THE FORMER PRESIDENT, EFFECTIVE JANUARY 1, 2008. THE FORMER PRESIDENT AND COO'S CONTRACT EXPIRED JANUARY 1, 2011 AND SHE RETIRED FROM HER POSITION AT LACMA AS OF MAY 4, 2011. THE DIRECTOR ANNUALLY DETERMINES THE COMPENSATION OF EACH OF THE OTHER OFFICERS AND KEY EMPLOYEES. IN EACH CASE, THE COMPENSATION IS BASED ON (1) THE EMPLOYEE'S CONTRACT, IN THE CASE OF THE CEO AND THE FORMER PRESIDENT; (2) THE EMPLOYEE'S PERFORMANCE DURING THE PRIOR YEAR; (3) THE CONTEXT OF LACMA'S OVERALL OPERATING BUDGET; AND (4) COMPARABILITY DATA FOR PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. SUCH COMPARABILITY DATA IS GENERALLY PREPARED BY SENIOR MANAGEMENT, INCLUDING THE CHIEF FINANCIAL OFFICER AND THE DIRECTOR OF HUMAN RESOURCES AND INCLUDES A REVIEW OF PUBLICLY FILED FORMS 990 OF OTHER INSTITUTIONS. ONCE COMPENSATION OF THE CEO IS APPROVED BY THE EXECUTIVE COMMITTEE, BASED ON THE INFORMATION AND COMPARABILITY DATA DESCRIBED ABOVE, THE EXECUTIVE COMMITTEE'S RECOMMENDATION, AS WELL AS THE PROPOSED COMPENSATION FOR ALL OTHER OFFICERS AND KEY EMPLOYEES, THE UNDERLYING DATA, INCLUDING THE PERFORMANCE REVIEWS AND COMPARABILITY ANALYSES, ARE PRESENTED TO THE AUDIT COMMITTEE, TO DETERMINE WHETHER, IN THE AUDIT COMMITTEE'S JUDGMENT, SUCH PROPOSED COMPENSATION IS APPROPRIATE, FAIR AND REASONABLE TO LACMA. THE FINAL RECOMMENDATION OF THE EXECUTIVE COMMITTEE AND AUDIT COMMITTEE IS REPORTED TO THE FULL BOARD OF TRUSTEES AT ITS NEXT REGULARLY SCHEDULED MEETING AND SUBMITTED TO THE FULL BOARD FOR APPROVAL. ALL MEMBERS OF THE AUDIT COMMITTEE ARE INDEPENDENT TRUSTEES OF LACMA. NOTE THAT LACMA DOES NOT HAVE A SEPARATE "COMPENSATION COMMITTEE." FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND ON THE MUSEUM'S WEBSITE. PROCEEDS FROM SALE OF STOCKS FORM 990, PART VIII, LINE 7A: LACMA HAS INVESTMENT ACCOUNTS AND HEDGE FUNDS WITH MANY STOCK TRANSACTIONS. DUE TO THE LARGE QUANTITY OF STOCK TRANSACTIONS, THIS INFORMATION IS NOT INCLUDED IN THE RETURN, BUT IS AVAILABLE UPON REQUEST. FORM 990, PART X, LINE 25: THE INCREASE IN OTHER LIABILITIES IS PRINCIPALLY TIED TO AN UNREALIZED GAIN IN THE VALUE OF AN INTEREST RATE SWAP. THIS SWAP WILL SELF LIQUIDATE OVER THE DURATION OF MUSEUM DEBT AND THEREFORE DOES NOT REPRESENT AN IMMEDIATE NON-DISCRETIONARY CLAIM ON MUSEUM RESOURCES. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -2,974,755. UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP -52,194,101. TOTAL TO FORM 990, PART XI, LINE 5: -55,168,856. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT. FOUNDATION FOR THE ADVANCEMENT OF MESOAMERICAN STUDIES INC 5905 WILSHIRE BLVD LOS ANGELES CA 90036 593195520 TO FOSTER INCREASED UNDERSTANDING OF ANCIENT MESOAMERICAN CULTURES. FL 501(C)(3) PF MUSEUM ASSOCIATES 0 CRT 1 5905 WILSHIRE BLVD LOS ANGELES CA 90036 TRUST CA CO GEORGE HORI TRUSTEE T 138970 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 FOUNDATION FOR THE ADVANCEMENT OF MESOAMERICAN STUDIES INC M 0 CASH VALUE FOUNDATION FOR THE ADVANCEMENT OF MESOAMERICAN STUDIES INC O 181505 CASH VALUE