2012-11-08T09:58:27-06:00 2011-12-31 EISNERAMPER LLP 750 THIRD AVENUE NEW YORK NY 100172703 990 2011-01-01 141457573 Storm King Art Center % DWAYNE JARVIS STOR 8455343115 PO Box 280 Old Pleasant Hill Road MOUNTAINVILLE NY 10953 DWAYNE JARVIS 2012-11-07 true JULIE FLOCH 2129498700 2011 2016-02-25 16:41:14Z JOHN P STERN PO BOX 280 MOUNTAINVILLE NY 10953 7137798 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 49 -3392 -3392 2673931 4028005 713127 661571 1496995 813470 115750 130016 4999803 5633062 0 0 0 0 1529446 1982644 0 0 289623 4133620 3869811 5663066 5852455 -663263 -219393 37377231 37464767 202214 412489 37175017 37052278 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 4468149 661571 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. 40034 COLLECTION CONSERVATION: Storm King Art Center's principal duty 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. 202675 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. 4710858 true true false false false false true true false false true true false false false true true false false false false false false false true false false false false true false false false false false false false false true true false false false false false false false false true 23 0 true 49 true true true true BD 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 1.0 X 0 0 0 DAVID R COLLENS 52.0 X X 168000 0 21473 THE DUKE OF DEVONSHIRE 1.0 X 0 0 0 DAVID DIAMOND 1.0 X X 0 0 0 CHRISTOPHER J ELLIMAN 1.0 X 0 0 0 JAMES H OTTAWAY JR 1.0 X X 0 0 0 NICHOLAS A POLSKY 1.0 X 0 0 0 ANNE P SIDAMON-ERISTOFF 1.0 X 0 0 0 RICHARD J SMITH 1.0 X 0 0 0 BEATRICE STERN 1.0 X 0 0 0 H PETER STERN 15.0 X X 0 0 35892 JOHN P STERN 52.0 X X 250000 0 12250 LISA STERN 1.0 X 0 0 0 HUME R STEYER 1.0 X 0 0 0 ADAM D WEINBERG 1.0 X 0 0 0 ERNEST OHNELL 1.0 X 0 0 0 ROSEMARIE L WOOD 52.0 X 69392 0 1676 GEORGENE ZLOCK 52.0 X 89538 0 838 DWAYNE JARVIS 48.0 X 80000 0 4000 ANTHONY DAVIDOWITZ 52.0 X 87692 0 9413 744622 0 85542 2 false true false 0 95385 540310 3392310 3439 4028005 ADMISSIONS FEES 900099 661571 661571 661571 210823 -2699 213522 0 0 29400 30093 -693 -693 -693 1943269 1340622 602647 602647 602647 59670 540310 59670 0 0 87914 74351 13563 13563 OTHER REVENUE 900099 117146 117146 117146 5633062 661571 -3392 946878 0 0 0 0 830165 664132 124525 41508 0 801815 627438 77518 96859 69922 55938 10488 3496 127204 101762 19081 6361 153538 122830 23031 7677 0 19922 15938 2988 996 44000 35200 6600 2200 0 0 238565 238565 217091 173672 32564 10855 143469 135065 4146 4258 264275 199160 59320 5795 0 0 173881 111439 56581 5861 44167 35334 8392 441 0 10699 1605 535 8559 0 0 763772 679757 84015 142570 112630 28514 1426 COST OF EXHIBITIONS 1090763 973054 6924 110785 MISCELLANEOUS EXPENSES 745758 671920 70192 3646 DEVELOPMENT EXPENSES -29121 -6016 -2005 -21100 5852455 4710858 851974 289623 914433 1218533 210904 262112 87250 299983 0 0 0 0 0 0 0 0 298009 292970 38169 72030 29408790 16758983 13417569 12649807 9159495 9248086 12785703 12939667 0 0 0 0 465699 481579 37377231 37464767 202214 412489 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 202214 412489 X 35793409 35171586 1381608 1880692 0 0 37175017 37052278 37377231 37464767 X -219393 96654 X false true true X false X 2455974 2038159 1776786 2673931 4028005 12972855 2455974 2038159 1776786 2673931 4028005 12972855 6666798 6306057 282590 203460 229168 176292 210823 1102333 1842 123224 116453 241519 14316707 2970665 0.44047 0.39621 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 30.00 1 1 0 1 false true X X X X false 4401702 4401702 6960492 3742557 3217935 18046596 13016426 5030170 12649807 LP INVESTMENTS 12939667 F 12939667 0 0 5633062 5852455 -219393 -39613 -39613 -259006 5354882 -39613 -39613 5394495 238567 238567 5633062 5613888 5613888 238567 238567 5852455 Collections Schedule D Part III 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 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 III IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, PURCHASED AND DONATED ARTWORKS ARE NOTE 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 2011 AND 2010, TOTAL ARTWORK WAS INSURED BY THE ART CENTER FOR $100 MILLION. THE FAIR VALUE OF BORROWED ARTWORKS APPROXIMATED $132,475,000 AND $138,490,500 IN 2011 AND 2010, RESPECTIVELY. INCOME TAXES Schedule D part XIV THE ART CENTER ADOPTED THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD'S ACCOUNTING STANDARDS CODIFICATION ("ASC") 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 740-10-05 HAS NOT HAD, AND IS NOT EXPECTED TO HAVE, A MATERIAL IMPACT ON THE ART CENTER'S FINANCIAL STATEMENTS. GALA 598230 538560 59670 59670 ANNUAL LUNCH 1750 1750 0 599980 540310 59670 59670 59670 X X X true true X X X X X false false false false false false false false false DAVID R COLLENS 168000 0 0 0 0 0 0 0 21473 0 189473 0 0 0 JOHN P STERN 250000 0 0 0 0 0 0 0 12250 0 262250 0 0 0 SCHEDULE J, PART I, LINE 1A BOARD CHAIRMAN H. PETER STERN RECEIVES COMPENSATION IN THE FORM OF HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES AND PERSONAL SERVICES SUCH AS A CHAUFFEUR. OFFICERS ROSEMARIE L. WOOD AND GEORGENE ZLOCK RECEIVE COMPENSATION IN THE FORM OF HOUSING ALLOWANCE THROUGH FEBRUARY 2011. X BUILDING AND GROUNDS WORK 1 3439 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 AND COMMENTS. THE FINAL RETURN IS DISCUSSED AND APPROVED 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 into available funding sources for supporting the compensation package. FORM 990, PART VI, SECTION A, LINE 2 Board Member H. Peter Stern is the father of the following board members Lisa, Beatrice and John Stern. FORM 990, PART XI, LINE 5 OTHER CHANGES IN NET ASSETS ARE ATTRIBUTABLE TO NET UNREALIZED GAINS ON INVESTMENTS OF $39,613 AND A NET ASSET RESTATEMENT OF $57,041 TO PROPERLY REFLECT THE FAIR MARKET VALUE OF AN INVESTMENT PREVIOUSLY AQUIRED. EXTENSION OF TIME TO FILE FORM 8868 APPLICATION FOR EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN WAS FILED.