2012-11-14T14:57:06-07:00 2011-12-31 990 2011-01-01 420680419 EDMUNDSON ART FOUNDATION INC EDMU 5152774405 4700 Grand Avenue Des Moines IA 50312 Cheryl Tuttle 5152774405 2012-11-14 2011 2016-02-24 21:20:13Z DES MOINES ART CENTER Jeff Fleming 4700 Grand Avenue Des Moines IA 50312 4922963 0 X http://www.desmoinesartcenter.org/ X 1945 IA The Des Moines Art Center engages diverse local, national, and international audiences with the art of today through its museum and school, adding to the cultural record through collections and programs. 26 26 155 295 78456 0 3359231 2142594 276889 317888 1833486 1870981 70543 319180 5540149 4650643 0 0 0 0 2547819 2600525 0 0 616802 2708862 3406875 5256681 6007400 283468 -1356757 91934697 88535352 960857 783435 90973840 87751917 The Des Moines Art Center engages diverse local, national, and international audiences with the art of today through its museum and school, adding to the cultural record through collections and programs. 0 0 3603225 0 12676 Collections, exhibitions and works of art - In addition to over 500 works of art on display from the permanent collections, 12 special exhibitions were presented. These exhibitions featured important contemporary artists from around the world. We have also developed a reputation for presenting the first solo exhibitions in the United States for many young artists who then establish international acclaim. These artists include Alex Brown, John Currin, Ellen Gallagher, Christian Jankowski and Cecily Brown. In 2011, Anselm Reyle was featured. Other exhibitions feature Iowa artists and works from our permanent collections. The permanent collections, consisting of over 5,000 works of art, focus on post-1945 works and are acclaimed for a large number of masterpiece-quality works and the scholarly import awarded to these objects, including Claude Monet, Brice Marden, John Sargent-Singer, Farncis Bacon, Frank Stella, Cecily Brown, Phillip Guston, Jean Arp, Andy Goldsworthy, Constantin Brancusi, Louise Bourgeois and Alberto Giacometti. In 2009, the John and Mary Pappajohn Sculpture Park opened, featuring sculpture by more than 20 of the world's most celebrated artists. 1093633 0 299130 Education - Our education and outreach programs are diverse and comprehensive, including a public art school, tours, programs for at-risk youth, and lectures. Three terms of classes and workshops are offered to members and the general public each year; over 3,000 students (children, adults, and families) took classes ranging from drawing, painting, photography, art history, ceramics, jewelry making and more. Approximately 10% of the students received scholarships. The tours program services over 13,000 students from pre-kindergarten through college, including all 4th graders in Des Moines and surrounding suburban school districts as well as several hundred adults; the tours are led by docents who undergo a rigorous training program. The student tours population includes many "at-risk" children as approximately half of Des Moines' public school students are defined as such. Additional at-risk students are provided art education programs under the direction of the visiting artist, including Youth Emergency Services and Shelter (YESS), Children and Families of Iowa, Oakridge Neighborhood and Mentor Iowa. Finally, there are two endowed lecture series which feature international and regionally acclaimed artists, art scholars and critics. 0 0 0 4696858 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 52 0 1 155 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 IA X X Edmundson Art Foundation Inc dba Des Moines Art Center 5152774405 4700 Grand Avenue Des Moines IA 50312 X Pamela Bass-Bookey 1 X 0 0 0 Charles C Edwards Jr 1 X 0 0 0 Lois Fingerman 1 X 0 0 0 Faith Garnaas 1 X 0 0 0 Barbara Gartner 1 X 0 0 0 Michele Griswell 1 X 0 0 0 Christine Hensley 1 X 0 0 0 James Israel 1 X 0 0 0 Dale Jansen 1 X 0 0 0 John Krantz 1 X 0 0 0 Lisa Kruidenier 1 X 0 0 0 Jeanne Levitt 1 X 0 0 0 Warren May 1 X 0 0 0 Michael H Miller 1 X 0 0 0 Mary Pappajohn 1 X 0 0 0 Stacy Polydoran 1 X 0 0 0 Suku Radia 1 X 0 0 0 Patricia Schneider 1 X 0 0 0 Craig Shadur MD 1 X 0 0 0 Toni Urban 1 X 0 0 0 James Wallace 1 X 0 0 0 Dennis E Young 1 X 0 0 0 Woodward G Brenton 1 X X 0 0 0 James Hubbell III 1 X X 0 0 0 Kyle Krause 1 X X 0 0 0 Patricia McFarland 1 X X 0 0 0 Mary Kelly 1 X X 0 0 0 Jeff Fleming 40 X X 210214 0 21527 210214 0 21527 1 0 1 0 0 0 72529 161443 0 56750 1851872 0 2142594 Studio Programs 611600 299130 299130 0 0 Exhibition income 900099 12676 12676 0 0 Reproduction & loan fees 900099 6082 6082 0 0 0 0 0 0 317888 1870981 0 0 1870981 0 0 0 0 0 0 0 0 24641 0 29893 0 -5252 0 -5252 0 -5252 0 0 0 129787 161443 134605 -4818 0 -4818 191530 107822 83708 0 83708 0 Other income 900099 245542 245542 0 0 0 0 0 0 245542 4650643 563430 78456 1866163 0 0 0 0 0 0 0 0 210214 0 210214 0 0 0 0 0 1863785 1419737 200265 243783 24649 14749 8273 1627 362499 244831 74503 43165 139378 99268 23605 16505 0 0 0 0 10826 0 10826 0 32044 0 32044 0 0 0 0 0 0 0 0 0 0 0 88015 51088 28304 8623 263238 230633 545 32060 226674 128951 50390 47333 65528 53706 4276 7546 0 0 0 0 583624 552574 11022 20028 167134 51113 9497 106524 0 0 0 0 14352 2512 9869 1971 12597 11896 255 446 0 0 0 0 652930 616621 13204 23105 129416 126616 1018 1782 Other expenses 38486 16594 5630 16262 Program & other fundraising supplies 352750 306708 0 46042 Conservation 25632 25632 0 0 Works of art purchased 743629 743629 0 0 6007400 4696858 693740 616802 601164 575814 208361 185935 1371960 779542 67967 77247 0 0 0 0 0 0 52507 53205 167359 119199 19571574 10655193 7689293 8916381 36967128 34735663 0 0 0 0 0 0 44808958 43092366 91934697 88535352 406937 478370 0 0 0 0 255000 0 0 0 0 0 0 0 0 0 298920 305065 960857 783435 X 20699178 21566300 3736715 1358778 66537947 64826839 90973840 87751917 91934697 88535352 X -1356757 -1865166 X 0 1 1 0 X 3561573 3573683 4502705 3359231 2142594 17139786 0 0 0 0 0 0 0 0 0 0 0 0 3561573 3573683 4502705 3359231 2142594 17139786 17139786 2145438 2006659 1554265 1833486 1870981 9410829 -41573 -60282 -43989 -59161 -35577 -240582 0 0 0 0 0 0 26310033 2242973 0.65145 0.70926 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 X X X X 1 33770178 213257 665647 0 1498625 0 33150457 30987867 319714 3923577 0 1460980 0 33770178 26753889 297027 5538309 0 1601358 0 30987867 36673251 302700 -8633883 0 1588179 0 26753889 0.33 0.65 0.02 1 0 0 0 0 0 18485060 9826274 8658786 0 0 0 0 0 1086514 828919 257595 0 0 0 0 8916381 Funds held in trust 43092366 43092366 0 Deferred compensation 305065 305065 4650643 6007400 -1356757 -1865166 0 0 0 0 -1865166 -3221923 3078796 -1865166 21000 0 272319 -1571847 4650643 0 0 0 4650643 6300719 21000 0 0 272319 293319 6007400 0 0 0 6007400 SchD_P03_S00_L01 Schedule D, Part III, Line 1 The collections, which were acquired through purchases and contributions since the Foundation's inception, are not recognized as assets on the statements of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. SchD_P03_S00_L04 Schedule D, Part III, Line 4 In keeping with its mission, the Art Center collects works of art from the 19th, 20th, and 21st centuries. Its permanent collections focus on masterpiece quality post 1945 and contemporary international art and are acclaimed for the scholarly import awarded to them. Of the approximately 4,600 objects in the collections, approximately 2,900 are art prints that range from Rembrandt, Goya, and Durer to the present. There are regular presentations of artworks in the exhibition galleries at the Art Center. Selected objects from the permanent collections are shown as part of special exhibitions either at the Art Center or in museums throughout the world. When not on exhibit at the Art Center or on loan to museums for temporary exhibitions, the objects are cared for in climate controlled storage areas. The Foundation maintains policies and procedures addressing the collections' upkeep, as well as other aspects of its management, including accession and deaccession policies. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The Foundation's endowment consists of several individual funds established for a variety of purposes and includes both donor-restricted endowment funds and funds designated by the Board of Trustees to function as endowments. The Foundation has a policy of appropriating for distribution each year 4 1/2 percent of its average fair value over the prior 12 quarters through the second quarter preceding the fiscal year in which the distribution in planned. Single gifts exceeding $200,000 are deducted from this calculation and a specific appropriation of 4 1/2 percent of such gifts is allowed for the 12 quarters following these gifts. Certain purpose-restricted endowments have spending rates established by the donor. These purposes vary from education support, scholarships and exhibitions. The majority of the endowment fund, however, has not been restricted for a specific purpose. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The Foundation is a tax exempt organization as described in Section 501(c)(3) of the Internal Revenue Code. As such, the Foundation is subject to federal and state income taxes only on unrelated business income under the provisions of Section 511 of the Internal Revenue Code. The Foundation recognizes the effect of income tax positions only if those positions are more likely than not of being sustained. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Interest and penalties on unrecognized tax benefits are classified as other noninterest expense. As of December 31, 2011 and 2010, the Foundation had no material unrecognized tax benefits. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Direct costs netted against revenues as required by Form 990 but not GAAP, including cost of goods sold, special event expenses and rental expenses. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Direct costs of events, rental expenses and cost of goods sold. Gala 186443 161443 25000 0 0 0 18865 9289 43407 Vault Party 72641 0 72641 0 0 0 8302 1600 11255 6 32146 0 32146 0 0 0 5974 11858 24055 291230 161443 129787 0 0 0 33141 22747 78717 134605 -4818 X X X 0 0 0 0 0 0 0 0 0 Jeff Fleming 207214 0 0 0 3000 0 5261 0 16266 0 231741 0 0 0 SchJ_P01_S00_L03 Schedule J, Part I, Line 3 The Executive Committee of the Board of Trustees reviews and determines the compensation of the Director. They review any potential conflicts of interest of which there were none in 2011. They use primarily the American Association of Museum Director's (AAMD) salary comparisons as a guide to determine comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. This review is documented with written notes regarding the compensation agreement reached after discussion by the Executive Committee or it's representative, the President of the Board of Trustees, and the Director. X 23 0 N/A 1 0 1 0 SchM_P01_S00_L33 Schedule M, Part I, Line 33 The Foundation's collections are not recognized as assets on the statements of financial position as allowed by GAAP and recommended by the American Association of Museums. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Contributed collection items are not reflected on the financial statements as allowed by GAAP and disclosed in our audited financial statements. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The Foundation's Finance Committee reviewed the prepared Form 990 during one of its meetings. Subsequent to this meeting and prior to submission, the Form 990 was emailed to all Trustees. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c The Foundation's Code of Ethics applies to all trustees, employees and volunteers. A Conflict of Interest questionnaire is completed annually by trustees and employees. Potential trustee conflicts identified on the questionnaire are investigated by the Trusteeship Committee. Trustees with potential conflicts do not participate in deliberations or vote on the matter in question. Potential employee conflicts are investigated by the Director and/or the Senior Director of Finance. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The Executive Committee of the Board of Trustees reviews and determines the compensation of the Director on an annual basis. They review any potential conflicts of interest, of which there were none during 2011. They use the American Association of Museum Director's (AAMD) Salary Comparisons as a guide to determine comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. This review is documented with written notes regarding the compensation agreement reached after discussion by the Board President and the Director. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The Foundations governing documents, conflict of interest policy, Form 990 and financial statements are available to the public upon request. The Form 990 is also available at www.guidestar.org. The Foundation also presents limited financial information in its annual report. F990_P11_S00_L05 Form 990, Part XI, Line 5 Unrealized losses on investments and funds held in trust. SchB_P01_S00_L00 Schedule B, Part I Income from the Anna K Meredith Endowment Fund results from a fund held in trust with the Edmundson Art Foundation as its sole income beneficiary. The Trust is perpetual and the Foundation has the right to all income from it. As such, this income is not recorded as a contribution but as investment income. Extensions filed.