2013-11-07T08:26:09-06:00 2012-12-31 EISNERAMPER LLP 750 THIRD AVENUE NEW YORK NY 100172703 990 2012-01-01 141457573 Storm King Art Center % DWAYNE JARVIS STOR 8455343115 PO Box 280 Old Pleasant Hill Road Suite MOUNTAINVILLE NY 10953 dwayne jarvis 8455343115 2013-08-06 true JULIE FLOCH 2129498700 2012 2016-02-24 21:20:13Z JOHN P STERN PO BOX 280 MOUNTAINVILLE NY 10953 11991570 false X STORMKING.ORG X 1960 NY TO PRESERVE AND ENHANCE ITS COLLECTIONS, TO PROVIDE EDUCATIONAL PROGRAMS, TO PROTECT LAND AND PROMOTE LAND CONSERVATION, AND TO CONTRIBUTE TO THE CULTURAL LIFE AND PROSPERITY OF OUR COMMUNITY. 16 14 53 35 -19514 1744 4028005 3166022 661571 727039 813470 1097037 130016 311264 5633062 5301362 0 0 0 0 1982644 2196931 0 0 422420 3869811 3143781 5852455 5340712 -219393 -39350 37063583 38567755 412489 957037 36651094 37610718 X EXHIBIT, ACQUIRE, BORROW AND CONSERVE MODERN AND CONTEMPORARY ART WITH A FOCUS ON LARGE-SCALE SCULPTURE THAT IT SITES IN ITS EXPANSIVE LANDSCAPE, TO CREATE A DYNAMIC AND UNIQUE PLACE TO EXPLORE ART IN NATURE; PROVIDE ENGAGING EXHIBITIONS, EDUCATIONAL AND PUBLIC PROGRAMS, AND SPECIAL EVENTS; CONTRIBUTE TO AN ART HISTORICAL DISCOURSE THORUGH SCHOLARLY RESEARCH AND PUBLICATIONS; VALUE ITS RELATIONSHIPS WITH ARTISTS AND ENCOURAGES DEVELOPMENT OF THEIR IDEAS AND PRACTICES; WISELY STEWARD AND CONSERVE ITS NATURAL SETTING BY ADOPTING SOUND AND SUSTAINABLE MANAGEMENT PRACTICES; AS AN INTERNATIONAL DESTINATION, CONTRIBUTE TO THE CULTURAL LIFE AND PROSPERITY OF THE REGION. false false 3683147 727039 EXHIBITION: The Museum is dedicated to putting its collections on view in Mountainville NY and by loan elsewhere, as well as borrowing works of art for exhibition. The highest standards of scholorship, maintenance, installation, and interaction with the public all contribute to this critical exhibiting role. 144752 COLLECTION CONSERVATION: One of Storm King Art Center's principal duties is to keep its collections intact for future generations and to pass these on in optimum condition. To carry out this responsibility the Storm King Art Center strives to maintain effective programs of security, building maintenance, environmental control, and conservation. 205749 EDUCATION: To provide a dynamic, cultural and educational program that enhances and enlivens the visitor's relationship with the art and landscape. Storm King offers opportunities for multiple levels of engagement and educational programming for visitors of all ages. 4033648 true true false false false false true true false false true true false false true true true false false false false false false false true false false false false true false false false false false false false false true false false false false false false false false true 17 0 true 53 true true true false false false false true true false false false false X 16 14 true false false false false false false true true false false false true true true true true true true false NY X DWAYNE JARVIS 8455343115 OLD PLEASANT ROAD Mountainville NY 10953 PETER BIENSTOCK 2.0 X 0 0 0 DAVID DIAMOND 2.0 X X 0 0 0 JOHN P STERN 52.0 X X 284634 0 13256 JAMES H OTTAWAY JR 2.0 X X 0 0 0 ROBERTA DENNING 2.0 X 0 0 0 CHRISTOPHER J ELLIMAN 2.0 X 0 0 0 NICHOLAS A POLSKY 2.0 X 0 0 0 ANNE P SIDAMON-ERISTOFF 2.0 X 0 0 0 RICHARD J SMITH 2.0 X 0 0 0 BEATRICE STERN 2.0 X 0 0 0 LISA STERN 2.0 X 0 0 0 HUME R STEYER 2.0 X 0 0 0 ADAM D WEINBERG 2.0 X 0 0 0 ERNEST OHNELL 2.0 X 0 0 0 DAVID R COLLENS 52.0 X X 159635 0 25248 THE DUKE OF DEVONSHIRE 2.0 X 0 0 0 H PETER STERN 2.0 X X 0 0 6557 DWAYNE JARVIS 48.0 X 90086 0 5036 ANTHONY DAVIDOWITZ 40.0 X 102513 0 11660 RACHEL LEBBY COKER 40.0 X 104146 0 5810 741014 0 67567 4 false true false 0 94101 678932 2392989 406333 3166022 ADMISSIONS FEES 900099 727039 727039 727039 211019 211019 0 0 20000 39514 -19514 0 -19514 -19514 4296504 3023596 3340861 3093221 955643 -69625 886018 114520 678932 114520 0 0 111451 102092 9359 9359 OTHER REVENUE 900099 321419 321419 321419 5301362 727039 -19514 541797 0 0 0 0 636868 502903 81910 52055 0 1155272 923940 184003 47329 79055 63244 11858 3953 167398 133918 25110 8370 158338 126670 23751 7917 0 12420 9936 1863 621 48841 39073 7326 2442 0 0 233130 233130 153053 122442 22958 7653 121031 96824 18155 6052 165351 124013 33070 8268 101646 76235 20329 5082 0 140227 112182 21034 7011 57782 46226 8667 2889 0 11402 1710 9122 570 0 0 757672 674328 83344 170729 134876 34146 1707 COST OF EXHIBITIONS 514520 514520 BUILDING AND GROUNDS 205481 174659 20548 10274 DEVELOPMENT/MEMBERSHIP 310922 46638 15546 248738 MISCELLANEOUS EXPENSE 139574 109311 28774 1489 5340712 4033648 884644 422420 1218533 1787065 262112 463126 299983 314702 0 0 0 0 0 0 0 0 292970 275931 72030 71160 27277971 14493059 12649807 12784912 9248086 10712896 12939667 12037594 0 0 0 0 80395 120369 37063583 38567755 412489 634037 0 0 0 0 0 0 0 0 0 0 0 0 0 323000 0 0 412489 957037 X 34770402 36071253 1880692 1539465 0 0 36651094 37610718 37063583 38567755 -39350 998974 X false true X true false X 2038159 1776786 2673931 4028005 3166022 13682903 0 0 2038159 1776786 2673931 4028005 3166022 13682903 6665755 7017148 203460 229168 176292 210823 211019 1030762 0 1842 123224 116453 301925 543444 15257109 3175963 0.45993 0.44047 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 30.00 1 1 1 false true X X X X false 5287895 5287895 6897047 3843130 3053917 15093029 10649929 4443100 12784912 LP INVESTMENTS 10417208 F FLEXIBLE CAPITAL 1620386 F 12037594 0 0 X 6136831 998974 69625 1068599 5068232 233130 233130 5301362 5177207 69625 69625 5107582 233130 233130 5340712 Collections Schedule D Part III, LINE 4 Storm King Art Center's permanent collection includes more than 120 world-class examples of modern and contemporary art. The collection is primarily comprised of large-scale sculpture suited for outdoor display across Storm King's 500 acres, including stellar examples of work by artists such as David Smith, Magdalena Abakanowitz, and Louise Nevelson. Some works, including those by Maya Lin, Richard Serra, Robert Grosvenor, and Andy Goldsworthy, were created specifically for display at Storm King. Dispersed among works in the permanent collection are sculptures on long-term loan to Storm King. Exhibitions take place both within Storm King's museum building's galleries and outdoors, complementing Storm King's long-term displays. Art Collections Financial Statements explanation Schedule D Part II, LINE 9 IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, PURCHASED AND DONATED ARTWORKS ARE NOT INCLUDED AT THEIR COSTS OR FAIR VALUES IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION. LIKEWISE, THE LOAN VALUES ASSOCATED WITH BORROWED ARTWORKS ARE NOT INCLUDED IN THE ACCOMPANYING STATEMENTS OF ACTIVITIES. IN 2012 AND 2011, TOTAL ARTWORK WAS INSURED BY THE ART CENTER FOR $100 MILLION. THE FAIR VALUE OF BORROWED ARTWORKS APPROXIMATED $114,454,930 AND $132,475,000 IN 2012 AND 2011, RESPECTIVELY. INCOME TAXES Schedule D part X, LINE 2 The Art Center adopted the provisions of the Financial Accounting Standards Board's Accounting Standards Codification ("ASC") Topic 740-10-05 relating to accounting and reporting for uncertainty in income taxes. Because of the Art Center's general tax-exempt status, the adoption of ASC Topic 740-10-05 has not had, and is not expected to have, a material impact on the Art Center's financial statements. PART XI, LINE 2D AND PART XII, LINE 2D OTHER $69,625 REPRESENT LOSS ON DISPOSAL OF ASSETS. GALA 624017 523267 100750 100750 SUMMER SOLSTICE 74435 60665 13770 13770 1 95000 95000 793452 678932 114520 114520 114520 X X true true X X X X X false false false false false false false false false JOHN P STERN 284634 0 0 0 0 0 0 0 13256 0 297890 0 0 0 DAVID R COLLENS 159635 0 0 0 0 0 0 0 25248 0 184883 0 0 0 SCHEDULE J, PART I, LINE 1A FROM 1/2012 THROUGH 6/2012, BOARD CHAIRMAN H. PETER STERN RECEIVED COMPENSATION IN THE FORM OF INITATION FEES AND PERSONAL SERVICES SUCH AS A CHAUFFEUR. OFFICER ANTHONY DAVIDOWITZ RECEIVE COMPENSATION IN THE FORM OF HOUSING ALLOWANCE. X 2 20352 FMV X LAND 1 385981 FMV false true false FORM 990, PART VI, SECTION B, LINE 11A THE RETURN IS PROVIDED TO THE AUDIT COMMITTEE OF THE BOARD FOR REVIEW, COMMENTS AND APPROVAL. THE FINAL RETURN IS PROVIDED TO THE GOVERNING BOARD BY THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR ALL EXECUTIVE COMMITTEE BOARD MEMBERS ARE REQUIRED TO REVIEW THE CONFLICT OF INTEREST POLICY. ANY NEW MEMBERS ARE REQUIRED TO REVIEW THE POLICY BEFORE ACCEPTING THE POSITION. AT COMMITTEE MEETINGS ANY CONFLICT OF INTEREST ISSUES ARE RAISED, DISCUSSED AND RESOLVED AS NECESSARY. ALL BOARD MEMBERS ARE REQUIRED TO SIGN AND SUBMIT A CONFLICT OF INTEREST QUESTIONNAIRE. FORM 990, PART VI, SECTION B, LINE 15B Compensation packages are reviewed annually by the Compensation Committee of the Board based on comparison to industry standards. Additional consideration is given to available funding sources for supporting the compensation package. FORM 990, PART VI, SECTION A, LINE 2 President and Board Member John Stern is the brother of the board members Lisa and Beatrice Stern. EXTENSION OF TIME TO FILE FORM 8868 APPLICATION FOR EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN WAS FILED. FORM 990, PART VI, SECTION C, LINE 19 THE ART CENTER MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.