2012-03-06T17:59:23-06:00 2011-06-30 GARY MCGEE & CO LLP 808 SW THIRD AVENUE SUITE 700 PORTLAND OR 97204 990 2010-07-01 930391604 PORTLAND ART MUSEUM PORT 5032262811 1219 SW PARK AVENUE PORTLAND OR 972052430 GARETH NEVITT 5032262811 2012-03-05 1 GARY MCGEE 5032222515 2010 2016-02-24 21:20:13Z BRIAN FERRISO 1219 SW PARK AVENUE PORTLAND OR 972052430 12235375 0 X WWW.PORTLANDARTMUSEUM.ORG X 1892 OR COLLECTION AND PRESERVATION OF ART FOR PUBLIC EXHIBITION. 50 50 274 939 0 16786 7662782 6995538 2136869 1983744 651619 666041 1339409 1608079 11790679 11253402 12000 15000 0 0 6318158 6496483 22309 17737 1565496 7843868 7289458 14196335 13818678 -2405656 -2565276 116282847 119815462 11093578 10018318 105189269 109797144 THE MISSION OF THE PORTLAND ART MUSEUM IS TO ENGAGE THE PUBLIC WITH ART AND FILM OF ENDURING QUALITY, TO FACILITATE DIALOGUE WITH DIVERSE AUDIENCES, AND TO COLLECT, PRESERVE AND EDUCATE FOR THE ENRICHMENT OF PRESENT AND FUTURE GENERATIONS. 0 0 8285540 1711506 THE MUSEUM DEVOTES 90 PERCENT OF ITS GALLERIES TO ITS PERMANENT COLLECTIONS WHICH CONSISTS OF MORE THAN 50,000 OBJECTS. IT ALSO MAINTAINS AN AMBITIOUS EXHIBITION PROGRAM, PRESENTING APPROXIMATELY 20 EXHIBITIONS EACH YEAR. HIGHLIGHTS FOR FISCAL YEAR 2011 WERE: ALLURE OF THE AUTOMOBILE, THOMAS MORAN'S SHOSHONE FALLS, AND RICHES OF A CITY: PORTLAND COLLECTS. 1515562 15000 896710 THE MUSEUM'S NORTHWEST FILM CENTER CONDUCTS AN ACTIVE FILM AND VIDEO EXHIBITION PROGRAM, OPERATES THE OLDEST AND MOST COMPREHENSIVE FILM SCHOOL IN OREGON AND THE NORTHWEST, AND HAS ONE OF THE PREMIERE YOUTH MEDIA ARTS RESIDENCY PROGRAMS IN THE NATION. DURING THE YEAR, MORE THAN 10,000 STUDENTS WERE IMPACTED BY OUR PROGRAMS, EITHER BY DIRECT INSTRUCTION OR THROUGH PUBLIC PROGRAMS. 594990 MUSEUM EDUCATION PROGRAMS AIM TO BROADEN AND DEEPEN ACCESS TO EXHIBITIONS AND COLLECTIONS, AND TO FACILITATE VISITORS' LEARNING ABOUT ART BOTH ON AND OFFSITE. APPROXIMATELY 23,000 STUDENTS AND TEACHERS TOURED THROUGH EXHIBITIONS AND THE COLLECTIONS DURING THE 2010-2011 SCHOOL YEAR. THE MUSEUM ALSO MADE AVAILABLE AN IPOD-BASED MULTIMEDIA TOUR OF THE PERMANENT COLLECTION AND SELECT EXHIBITIONS FREE TO ALL VISITORS, PRESENTED MORE THAN 20 PUBLIC LECTURES AND SYMPOSIA, AND OFFERED FREE FAMILY DAYS FOR MORE THAN 8,000 VISITORS CUMULATIVELY. DURING THIS FISCAL YEAR, THE MUSEUM LAUNCHED OBJECT STORIES, AN INTERACTIVE INSTALLATION CONNECTING COMMUNITY MEMBERS AND VISITORS WITH THE IMPORTANCE OF PERSONAL AND ART OBJECTS. 10396092 1 1 0 1 0 0 1 0 1 1 1 0 0 1 0 1 0 0 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 187 0 274 1 1 1 0 0 0 0 1 1 0 0 0 0 X 50 50 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 OR X X GARETH NEVITT 5032262811 1219 SW PARK AVENUE PORTLAND OR 972052430 N CHRISTIAN ANDERSON 1.00 X 0 0 0 LINDA ANDREWS 1.00 X 0 0 0 MISSY BECHEN 1.00 X 0 0 0 CHITA BECKER 1.00 X 0 0 0 MARIO K BISIO 1.00 X 0 0 0 KAY BRANTLEY 1.00 X 0 0 0 LISA D BROOKE 1.00 X 0 0 0 MARY BETH BURPEE 1.00 X 0 0 0 LIANE CABOT 1.00 X 0 0 0 JAMES CRUMPACKER 1.00 X 0 0 0 FRED W FIELDS 1.00 X 0 0 0 MARK C FRANDSEN 1.00 X 0 0 0 STAN GEFFEN 1.00 X 0 0 0 PATRICK J GREEN 1.00 X 0 0 0 PETER J HALL 1.00 X 0 0 0 LINDA RAE HICKEY 1.00 X 0 0 0 MARY CHOMENKO HINCKLEY 1.00 X 0 0 0 RONNA HOFFMAN 1.00 X 0 0 0 STEVE HOLWERDA 1.00 X 0 0 0 JUDY HUMMELT 1.00 X 0 0 0 STEVE JANIK 1.00 X 0 0 0 FRED JUBITZ 1.00 X 0 0 0 SELBY KEY 1.00 X 0 0 0 NANCY LEMATTA 1.00 X 0 0 0 MELVIN MARK JR 1.00 X 0 0 0 LANI MCGREGOR 1.00 X 0 0 0 MARK MILLER 1.00 X 0 0 0 SHIRLEY PAPE 1.00 X 0 0 0 DON PEARSON 1.00 X 0 0 0 TRAVERS HILL POLAK 1.00 X 0 0 0 DEE POTH 1.00 X 0 0 0 DENNIS RAWLINSON 1.00 X 0 0 0 BRIAN RICE 1.00 X 0 0 0 H PAT RITZ 1.00 X 0 0 0 RICHARD A RUBINSTEIN 1.00 X 0 0 0 ARLENE SCHNITZER 1.00 X 0 0 0 HAROLD J SCHNITZER 1.00 X 0 0 0 ANDREE H STEVENS 1.00 X 0 0 0 JULIE NEUPERT STOTT 1.00 X 0 0 0 DONALD T VAN WART 1.00 X 0 0 0 LAWRENCE S VIEHL 1.00 X 0 0 0 JOE VOBORIL 1.00 X 0 0 0 HELEN JO WHITSELL 1.00 X 0 0 0 WILLIAM WHITSELL 1.00 X 0 0 0 CELIA WIEBE 1.00 X 0 0 0 ALICE HARTMAN WIEWEL 1.00 X 0 0 0 GORDON D SONDLAND 1.00 X X 0 0 0 JANET GEARY 1.00 X X 0 0 0 RICHARD LOUIS BROWN 1.00 X X 0 0 0 JAMES H WINKLER 1.00 X X 0 0 0 MARY CLARK 1.00 X X 0 0 0 LAURA S MEIER 1.00 X X 0 0 0 BRIAN J FERRISO 35.00 X 283874 0 42633 GARETH A NEVITT 35.00 X 138401 0 11734 JS MAY 35.00 X 171286 0 435 BRUCE GUENTHER 35.00 X 125602 0 4768 719163 0 59570 4 0 1 0 ZIBA DESIGN INC 1044 NW NINTH AVENUE PORTLAND OR 97209 ARCHITECTURAL DESIGN 117308 1 2698588 34377 232072 4030501 154790 6995538 ADMISSIONS 900099 1156332 1156332 TUITION AND FEES 611600 475711 475711 RENTAL SALES GALLERY 453000 226186 226186 OTHER PROGRAM FEES 900099 125515 125515 1983744 666041 666041 1496359 428648 1067711 1067711 1067711 47202 34377 131306 -84104 -84104 835062 422019 413043 413043 MISCELLANEOUS 900099 211429 211429 211429 11253402 2608216 0 1649648 15000 15000 636333 76651 306998 252684 4946158 2893925 1691464 360769 511435 308163 160616 42656 402557 226949 133749 41859 12538 148 12259 131 59118 59118 17737 17737 98257 98257 818367 360014 344155 114198 543962 438037 93721 12204 1332640 837776 373673 121191 837026 246133 590893 149301 116578 31512 1211 354421 354421 1525359 1159032 348365 17962 133532 51540 81992 OTHER 955047 493316 378011 83720 ART & EXHIBITIONS COSTS 350397 350397 EVENT EXPENSES 119493 87182 454 31857 ALLOCATIONS 0 2735251 -3202568 467317 13818678 10396092 1857090 1565496 3290217 2759972 2860323 3443293 8309813 4922454 289441 302720 275304 298193 123374 228247 84140317 20544657 63542511 63595660 23024803 29286633 9960564 9892982 4606497 5085308 116282847 119815462 1340718 1196452 408560 464467 9032218 8154735 312082 202664 11093578 10018318 X 68616277 70729921 4561940 6926735 32011052 32140488 105189269 109797144 116282847 119815462 X -2565276 7173151 X 0 1 1 X 0 X 10498151 13036544 8729219 7662782 6995538 46922234 10498151 13036544 8729219 7662782 6995538 46922234 2862844 44059390 1884338 2383250 2411138 1969205 2162400 10810331 14810 11500 26310 21083 49734 47380 60439 211429 390065 58148940 19369872 0.75770 0.80080 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME ($390,065) RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 4433 0 0 4433 0 X X X X 0 41681519 130913 7614501 2352535 47074398 40014931 579734 4651684 3564830 41681519 49712673 1975000 -7251644 4421098 40014931 0.26310 0.73690 1 0 4837854 3545955 8383809 70105982 15832822 54273160 288790 288114 676 5361736 4423721 938015 63595660 INTERESTS IN PRIVATE EQUITY PARTNERSHIPS 9892982 F 9892982 FMV OF INTEREST SWAP AGREEMENT 202664 202664 11253402 13818678 -2565276 7063733 109418 7173151 4607875 20008442 7063733 698173 109418 7871324 12137118 98257 -981973 -883716 11253402 15400567 698173 981973 1680146 13720421 98257 98257 13818678 PART III, LINE 1A: THE MUSEUM'S COLLECTIONS COMPRISE MORE THAN 50,000 OBJECTS AND WORKS OF ART, INCLUDING WORKS OF EUROPEAN PAINTING AND SCULPTURE, AMERICAN PAINTING AND SCULPTURE, SILVER, ASIAN ART, NATIVE AMERICAN ART, PRE-COLUMBIAN ART, CAMEROON AND OTHER AFRICAN ART, CONTEMPORARY ART, SCULPTURE, PRINTS AND DRAWINGS, AND PHOTOGRAPHY. THE COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN FURTHERANCE OF PUBLIC SERVICE, RATHER THAN FOR FINANCIAL GAIN. THE MUSEUM'S COLLECTIONS, ACQUIRED THROUGH PURCHASE AND DONATION, ARE NOT RECOGNIZED AS ASSETS IN THE ACCOMPANYING FINANCIAL STATEMENTS. PURCHASES OF COLLECTION ITEMS ARE RECORDED IN THE YEAR IN WHICH THE ITEMS WERE ACQUIRED AS DECREASES IN UNRESTRICTED OR TEMPORARILY RESTRICTED NET ASSETS, DEPENDING ON THE SOURCE OF THE ASSETS USED TO PURCHASE THE ITEMS AND WHETHER THOSE ASSETS WERE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. PURSUANT TO MUSEUM POLICY, PROCEEDS FROM THE SALE OF ART AND RELATED INSURANCE SETTLEMENTS ARE RECORDED AS TEMPORARILY RESTRICTED NET ASSETS FOR THE ACQUISITION OF WORKS OF ART. PART III, LINE 4: THE PERMANENT COLLECTION IS AT THE CORE OF THE MUSEUM'S MISSION TO COLLECT AND PRESERVE A VARIETY OF ART FOR THE ENRICHMENT OF PRESENT AND FUTURE GENERATIONS. DISPLAYED IN 112,000 SQUARE FEET OF GALLERIES, THE MUSEUM'S COLLECTION OF MORE THAN 50,000 OBJECTS REFLECTS THE HISTORY OF ART FROM ANCIENT TIMES TO TODAY. THE COLLECTION IS DISTINGUISHED FOR ITS HOLDINGS OF ARTS OF THE NATIVE PEOPLES OF NORTH AMERICA, ENGLISH SILVER, AND THE GRAPHIC ARTS. AN ACTIVE COLLECTING INSTITUTION, THE MUSEUM DEVOTES 90 PERCENT OF ITS GALLERIES TO THE PERMANENT COLLECTION. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MUSEUM'S ENDOWMENTS ARE USED TO FUND CERTAIN CURATORIAL AND MANAGEMENT POSITIONS, TO PURCHASE, PRESERVE, AND DISPLAY SPECIFIC TYPES OF ART, TO SUPPORT EDUCATION AND NORTHWEST FILM CENTER ACTIVITIES AND FOR THE UNRESTRICTED SUPPORT OF OVERALL MUSEUM OPERATIONS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FAIR MARKET VALUE OF INTEREST SWAP AGREEMENT 109,418. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR MARKET VALUE OF INTEREST SWAP AGREEMENT 109,418. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES -131,306. COST OF GOODS SOLD -422,019. RENTAL EXPENSES -428,648. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 131,306. COST OF GOODS SOLD 422,019. RENTAL EXPENSES 428,648. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT 1881021 0 0 0 0 0 0 1881021 0 1881021 1 0 1 1 0 0 X 1 COMNET MRKTG GROUP INC 1214 STOWE AVE MEDFORD OR 97501 PHONE SOLICITATION 0 62169 17737 44432 62169 17737 44432 OR ALLURE GALA 33920 20250 13670 500 59689 1834 KELLY/MORAN 11850 0 11850 9856 2000 5470 4 35694 14127 21567 51957 81464 34377 47087 500 69545 2000 59261 131306 -84219 1 OREGON MEDIA ARTS FELLOWSHIP 3 15000 OTHER INFORMATION: PART IV: OREGON MEDIA ARTS FELLOWSHIPS ARE AWARDED FOR PAST CREATIVE WORK, THEREFORE THERE IS NO MONITORING ON HOW THE FUNDS ARE SPENT BY THE VARIOUS RECIPIENTS. X 0 1 X X X 0 0 0 0 0 0 0 1 0 BRIAN J FERRISO 267165 0 16600 0 109 0 28700 0 13933 0 326507 0 0 0 GARETH A NEVITT 129992 0 8300 0 109 0 0 0 11734 0 150135 0 0 0 JS MAY 161477 0 9700 0 109 0 0 0 435 0 171721 0 0 0 PART I, LINE 1A THE ARLINGTON BUSINESS CLUB AND UNIVERSITY CLUB ARE USED FOR ENTERTAINING AND BUSINESS DISCUSSIONS IN PORTLAND. PART I, LINE 1B THE EMPLOYMENT CONTRACTS APPROVED BY THE BOARD OF TRUSTEES INCLUDES ARLINGTON AND UNIVERSITY CLUB BENEFIT INFORMATION. PART I, LINE 7 DISCRETIONARY BONUSES WERE AWARDED DUE TO THE FACT THAT NET EARNINGS WERE BETTER THAN BUDGETED. X 510 0 CURATORIAL JDGMENT X 7043 STAFF PROF. JDGMENT X 40 142514 QUOTED PRICES X RAFFLE PRIZES 8 2173 DONOR VALUATION X MISC. SUPPLIES 3 3060 DONOR VALUATION 14 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): NUMBERS LISTED IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. NON REPORTING OF REVENUE: PART I, LINE 33: CONSISTENT WITH ITS ACCOUNTING POLICY RELATED TO CONTRIBUTED ART TO ITS ART COLLECTION, AS DESCRIBED IN SCHEDULE D, CONTRIBUTION OF COLLECTION ITEMS ARE NOT REPORTED AS REVENUES. FORM 990, PART I, LINES 7A & 7B THE UNRELATED BUSINESS ACTIVITY IS CONDUCTED WITHIN PASSIVE INVESTMENT PARTNERSHIPS IN WHICH THE PORTLAND ART MUSEUM HOLDS AN INTEREST. FORM 990, PART VI, SECTION A, LINE 2 PETER AND JULIE STOTT - FAMILY RELATIONSHIP HAROLD AND ARLENE SCHNITZER - FAMILY RELATIONSHIP WILLIAM AND HELEN JO WHITSELL - FAMILY RELATIONSHIP MELVIN MARK AND LINDA ANDREWS - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM BASED ON INFORMATION PROVIDED BY MUSEUM STAFF. THE RETURN IS THEN REVIEWED BY SENIOR MANAGEMENT AND REVIEWED AND APPROVED BY THE FINANCE COMMITTEE OF THE BOARD. A COPY OF THE RETURN IS THEN GIVEN TO ALL BOARD MEMBERS BEFORE BEING SUBMITTED. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY AS PART OF THE BOARD ORIENTATION PROCESS. THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS IS IN CHARGE OF MONITORING ALL POTENTIAL CONFLICT OF INTERESTS. IF A CONFLICT OF INTEREST ARISES, THE INTEREST OF THE TRUSTEE IS PUT ON RECORD, AND THE TRUSTEE WILL BE EXCUSED DURING THE DISCUSSION OF THE MATTER, AS WELL AS THE VOTING PROCESS. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE EXECUTIVE DIRECTOR WAS DETERMINED AT THE TIME OF INITIAL HIRING BY THE HIRING COMMITTEE, BASED ON INFORMATION PROVIDED BY AN OUTSIDE HR CONSULTING FIRM, AND REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. SUBSEQUENT YEAR ADJUSTMENTS ARE BASED ON COMPARABILITY DATA, AND ARE APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE AS A DOWNLOADABLE PDF FILE ON THE MUSEUM'S WEBSITE OR IN HARD COPY UPON REQUEST. NO OTHER DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 7,063,733. CHANGE IN FAIR MARKET VALUE OF INTEREST SWAP AGREEMENT 109,418. TOTAL TO FORM 990, PART XI, LINE 5: 7,173,151.