2012-03-07T07:34:26-06:00 2011-06-30 O'CONNOR DAVIES MUNNS & DOBBINS LLP ONE STAMFORD LANDING STAMFORD CT 06902 990 2010-07-01 237105904 BRUCE MUSEUM INC BRUC 2038690376 ONE MUSEUM DRIVE GREENWICH CT 06830 PETER C SUTTON 2038690376 2012-03-07 1 ROBIN STRONG 2033232400 2010 2016-02-24 21:20:13Z PETER C SUTTON 1 MUSEUM DRIVE GREENWICH CT 06830 5052966 0 X WWW.BRUCEMUSEUM.ORG X 1970 CT BRUCE MUSEUM'S EXHIBITIONS AND EDUCATIONAL PROGRAMS ADVANCE THE UNDERSTANDING OF ART AND SCIENCE. 34 34 51 410 5286 3588 2204131 2072123 945281 1021151 324346 597745 346201 223763 3819959 3914782 5765 45958 0 0 2670851 2779353 0 0 873519 1471291 1604795 4147907 4430106 -327948 -515324 24899258 26144521 548426 355043 24350832 25789478 X BRUCE MUSEUM INC.'S MISSION IS TO PROMOTE THE UNDERSTANDING AND APPRECIATION OF ART AND SCIENCE TO ENRICH THE LIVES OF ALL PEOPLE. 0 0 3265864 45958 1099955 SEE SCHEDULE O FOR COMPLETE DESCRIPTION.THE MUSEUM WAS BUILT ORIGINALLY AS A PRIVATE HOME IN 1853 AND WAS BEQUEATHED TO THE TOWN OF GREENWICH, CT IN 1908 BY TEXTILE MERCHANT ROBERT MOFFAT BRUCE, WHO STIPULATED ITS USE AS A MUSEUM. THE FIRST EXHIBITION AT THE BRUCE MUSEUM TOOK PLACE IN 1912 AND FEATURED WORKS BY LOCAL ARTISTS KNOWN AS THE GREENWICH SOCIETY OF ARTISTS, SEVERAL OF WHOM WERE MEMBERS OF THE COS COB ART COLONY. THE COS COB SCHOOL OF AMERICAN PAINTING IS NOW WELL ESTABLISHED AS AN IMPORTANT PART OF THE HISTORY OF AMERICAN ART AND IT FORMS THE NUCLEUS OF THE MUSEUM'S HOLDINGS OF PAINTINGS, WATERCOLORS, DRAWINGS, AND NOTEBOOKS BY ARTISTS SUCH AS LEONARD AND MINA OCHTMAN, GEORGE WHARTON EDWARDS, AND HOBART JACOBS. PARALLELING AN INTEREST IN CONNECTICUT PAINTERS AND THEIR WORKS, EARLY DIRECTORS OF THE BRUCE MUSEUM PURSUED THE DEVELOPMENT OF THE NATURAL SCIENCES, BUILDING PARTICULAR STRENGTHS IN THE MINERAL AND AVIAN COLLECTIONS. THE BRUCE MUSEUM WAS EXPANDED IN 1993 AND INCLUDES NEARLY 8,000 SQUARE FEET OF EXHIBITION SPACE, COMPRISED OF ONE MAIN GALLERY, THREE SMALLER GALLERIES, AND A LECTURE HALL. THE MUSEUM ATTRACTS APPROXIMATELY 80,000 VISITORS ANNUALLY AND OPERATES UNDER ACCREDITATION BY THE AMERICAN ASSOCIATION OF MUSEUMS.THE BRUCE MUSEUM MOUNTS 12-14 CHANGING EXHIBITIONS EACH YEAR AND FEATURES A PERMANENT EXHIBITION, "CHANGES IN OUR LAND," THAT PRESENTS THE NATURAL AND CULTURAL HISTORY OF THE LONG ISLAND SOUND, INCLUDING AN OBJECT-BASED EXPLORATION OF NATIVE AMERICAN LIFE BEFORE AND AFTER EUROPEAN COLONIZATION. THE MUSEUM'S EXTENSIVE EDUCATIONAL PROGRAMS ARE EXHIBITION-BASED AND PROMOTE VISUAL LITERACY, CRITICAL THINKING, AND WRITTEN AND ORAL EXPRESSION. PROGRAMS FEATURE LINKS TO CURRICULUM FRAMEWORKS IN NEW YORK AND CONNECTICUT, AND FREE TEACHER PREVIEWS INTRODUCE AREA TEACHERS TO EACH MAJOR EXHIBITION. THE MUSEUM'S PRE-K - 12 EDUCATION PROGRAMS REACH OVER 13,000 STUDENTS EACH YEAR, INCLUDING 6,000-7,000 WHO VISIT THE MUSEUM WITH THEIR CLASSES AND A ROUGHLY EQUAL NUMBER WHO ARE VISITED BY THE BRUCEMOBILE, WHICH BRINGS OBJECT-BASED LESSONS TO CLASSROOMS. STUDENTS SERVED ATTEND ALL GREENWICH PUBLIC AND INDEPENDENT SCHOOLS, AS WELL AS SCHOOLS WITHIN A 30-MILE RADIUS (APPROXIMATELY 75% OF STUDENTS SERVED LIVE OUTSIDE OF GREENWICH). THE AWARD-WINNING NEIGHBORHOOD COLLABORATIVE BRINGS APPROXIMATELY 700 STUDENTS EACH YEAR FROM 25 HEAD START, EXTENDED-DAY, AND NEIGHBORHOOD CENTER PROGRAMS FOR A SERIES OF TOURS AND INQUIRY-BASED CLASSES, FREE OF CHARGE. THE MUSEUM ALSO OFFERS FULL- OR PARTIALLY-SUBSIDIZED PROGRAMS TO AREA SCHOOLS THAT INDICATE FINANCIAL NEED.PUBLIC PROGRAMS FOR ADULTS INCLUDE LECTURES, FILM SERIES, DOCENT-LED TOURS, VISITS TO SENIOR CENTERS BY THE BRUCEMOBILE, AND A LIFETIME OF LOOKING, A MULTI-SENSORY PROGRAM FOR INDIVIDUALS WITH ALZHEIMER'S DISEASE AND OTHER FORMS OF DEMENTIA THAT UTILIZES OBJECTS, ARTISTS' MATERIALS AND REPRODUCTION IMAGES TO EVOKE PARTICIPANTS' VERBAL RESPONSES BASED ON THEIR LIFETIMES OF MEMORIES AND PERSONAL STORIES. OTHER PUBLIC PROGRAMS INCLUDE NINE FAMILY DAYS HELD THROUGHOUT THE YEAR, FEATURING ACTIVITIES, PERFORMANCES, AND SPECIAL PROGRAMS FOR FAMILIES, INCLUDING AN ANNUAL CELEBRATION OF THE LIFE OF MARTIN LUTHER KING, JR. THE MUSEUM ALSO SPONSORS INTERNSHIP PROGRAMS FOR HIGH SCHOOL STUDENTS AND RECENT COLLEGE GRADUATES WHO WORK IN VARIOUS MUSEUM DEPARTMENTS.HIGHLIGHTS OF THE BRUCE MUSEUMS EXHIBITIONS DURING FY 2011 INCLUDED THE BECKONING PATH: THE WOODLAND GARDEN PHOTOGRAPHS OF THEODORE NIERENBERG (8/28/10-11/7/10), WHICH SHOWCASED 46 PHOTOGRAPHS OF THEODORE NIERENBERGS NEW YORK ESTATE, GIVING VIEWERS GLIMPSES OF A RAMBLING SERIES OF PATHS ON THE ESTATE AND INTIMATE CLOSE-UPS AND SCENIC VIEWS TAKEN OVER SEVERAL DECADES AND DURING ALL SEASONS; CIRCUS! ART AND SCIENCE UNDER THE BIG TOP (9/25/10-1/9/11), WHICH ILLUMINATED THE PAGEANTRY AND FEATS OF SKILL AND DARING OF THIS SPECTACULAR FORM OF PUBLIC ENTERTAINMENT AND ITS EVOLUTION FROM THE 18TH CENTURY TO MODERN DAY; A CHILDS VIEW: 19TH CENTURY PAPER THEATERS (10/30/10-1/30/11), A REPRISE OF A UNIQUE AND POPULAR CHILDS TOY THAT EMERGED IN THE EARLY 19TH CENTURY; AND CINDY SHERMAN: WORKS FROM FRIENDS OF THE BRUCE MUSEUM (1/29/11-5/23/11), FEATURING 32 WORKS, INCLUDING LARGE-SCALE BLACK-AND-WHITE AND COLOR PHOTOGRAPHS DRAWN FROM TEN LOCAL COLLECTIONS IN GREENWICH AND SURROUNDING COMMUNITIES; ALSO ON VIEW WAS HUMAN CONNECTIONS: FIGURAL ART FROM THE BRUCE MUSEUM COLLECTION (2/12/11-6/5/11), WHICH EXPLORED A VARIETY OF APPROACHES TO THE HUMAN FIGURE, FROM ILLUSIONISTIC PORTRAITS AND CLASSICAL NUDES TO TIMELESS ABSTRACTIONS OF THE HUMAN FORM THROUGH APPROXIMATELY 40 WORKS FROM THE MUSEUMS PERMANENT COLLECTION. THE MUSEUMS YOUTH COMMITTEE ORGANIZED AND RAISED FINANCIAL SUPPORT FOR ARCTIC SANCTUARY: IMAGES OF THE ARCTIC NATIONAL WILDLIFE REFUGE (3/5/11-5/29/11), A BEAUTIFUL PHOTOGRAPHIC EXHIBITION THAT CELEBRATED A MILESTONE IN AMERICAN CONSERVATION HISTORY, THE 50TH ANNIVERSARY OF THE ESTABLISHMENT OF THE ARCTIC NATIONAL WILDLIFE REFUGE IN NORTHWEST ALASKA. KASHMIR SHAWLS FROM THE BRUCE COLLECTION (11/13/10-2/27/11), EXHIBITED A HANDSOME DISPLAY OF TEN OUTSTANDING SHAWLS FROM OUR INTERNATIONAL TEXTILE COLLECTION, MOST OF THEM DATING FROM THE EARLY TO MID-19TH CENTURY AND SEVERAL OF WHICH WERE GIVEN TO THE MUSEUM BY GREENWICH FAMILIES THAT PASSED THEM DOWN FROM ONE GENERATION TO THE NEXT. THE MUSEUM ALSO PRESENTED POWER INCARNATE: ALLAN STONES COLLECTION OF SCULPTURE FROM THE CONGO (5/14/11-9/4/11), THE SECOND AFRICAN ART EXHIBITION MOUNTED BY THE BRUCE SINCE 1999, WHICH GAVE VIEWERS THE OPPORTUNITY TO EXPLORE THE BEAUTY OF POWER SCULPTURES OF THE CONGO BASIN AND THEIR IMPORTANCE AS OBJECTS TO PROTECT FAMILIES AND COMMUNITIES FROM MALEVOLENT FORCES AND DISEASE. ICREATE TEEN ART (6/4/11-6/26/11) WAS ANOTHER HUGE SUCCESS, ATTRACTING OVER 225 ENTRIES FROM MORE THAN 100 STUDENTS THROUGHOUT FAIRFIELD AND WESTCHESTER COUNTIES. THIS YEARS WORKS INCLUDED TWO-DIMENSIONAL PIECES INCLUDING PAINTINGS, DRAWINGS, MIXED MEDIA, AND HAND-DRAWN OR HAND-PAINTED DIGITAL WORKS. THREE SISTERS & CORN MAIDENS: NATIVE AMERICAN MAIZE CULTIVATION & CUSTOMS (12/11/10-7/3/11) UTILIZED THE OUTSTANDING COLLECTION OF NATIVE AMERICAN ART AND OBJECTS IN THE BRUCE MUSEUM COLLECTION TO EXPLORE THE ROLE OF CORN IN THE NATIVE AMERICAN CULTURES OF THE NORTHEAST AND SOUTHWEST. FEATURED OBJECTS INCLUDE TEXTILES, PAINTINGS, POTTERY, BASKETS, AND PREHISTORIC ARTIFACTS. PICASSOS VOLLARD SUITE: THE SCULPTORS STUDIO (6/18/11-10/16/11) SHOWCASED TWENTY-EIGHT EXTRAORDINARY IMAGES OF THE SCULPTORS STUDIO ETCHINGS HE MADE FOR THE LEGENDARY ART DEALER AND PUBLISHER, AMBROSE VOLLARD.THE MUSEUM IMPLEMENTED AND PRESENTED 64 EDUCATIONAL PROGRAMS FOR THE GENERAL PUBLIC, INCLUDING LECTURES, FILMS AND FAMILY DAYS. IN ADDITION, 3,913 STUDENTS ENJOYED 199 PROGRAMS PROVIDED BY THE MUSEUM AND 1,269 ADULTS PARTICIPATED IN 116 EXHIBITION TOURS. THE NEIGHBORHOOD COLLABORATIVE REACHED NEARLY 900 STUDENTS THROUGH 179 EDUCATIONAL PROGRAMS FOR AT-RISK CHILDREN IN COMMUNITY CENTERS, AFTER-SCHOOL AND HEAD START PROGRAMS. IN JUNE 2011, THE MUSEUMS REFURBISHED SEASIDE CENTER OPENED TO THE PUBLIC, AND THIS NEW FACILITY WILL BE OPEN FOR NINE MONTHS OF THE YEAR, UP FROM THREE MONTHS IN PAST YEARS. DURING THE FY 2010, THE MUSEUM ENGAGED 410 ACTIVE VOLUNTEERS WHO COLLECTIVELY DONATED 14,432 HOURS OF SERVICE. 194 OF THESE VOLUNTEERS WERE YOUTH VOLUNTEERS WHO PROVIDED 8,523 HOURS OF SERVICE IN SUPPORT OF VARIOUS DEPARTMENTS WITH THE MUSEUM AND AT SPECIAL EVENTS, FESTIVALS, AND FAMILY DAY CELEBRATIONS. 3265864 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 43 0 1 51 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 34 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X GREGORY HOLLOP 2034137525 THE BRUCE MUSEUM ONE MUSEUM DRIVE GREENWICH CT 06830 PATRICIA W CHADWICK 7.50 X X 0 0 0 LEORA R LEVY 7.50 X X 0 0 0 MYRNA R HAFT 5.00 X X 0 0 0 LINDA ZWACK MUNGER 5.00 X X 0 0 0 WALTER F RAQUET 5.00 X X 0 0 0 LINDA CHASE-JENKINS 5.00 X X 0 0 0 MARTHA R ZOUBEC 5.00 X X 0 0 0 SUSAN E LYNCH 5.00 X 0 0 0 CHARLES M ROYCE 5.00 X 0 0 0 TIFFANY A BURNETTE 1.00 X 0 0 0 THOMAS J BYRNE 1.00 X 0 0 0 THOMAS P CLEPHANE 1.00 X 0 0 0 BRUCE F COHEN 1.00 X 0 0 0 GEORGE E CRAPPLE 1.00 X 0 0 0 BARBARA DALIO 1.00 X 0 0 0 FRED ELSER 1.00 X 0 0 0 CHRISTOPHER P FRANCO 1.00 X 0 0 0 MICHAEL GRUNBERG 1.00 X 0 0 0 RAYMOND E JOSLIN 1.00 X 0 0 0 MICHAEL A KOVNER 1.00 X 0 0 0 ROBERT H LAWRENCE 1.00 X 0 0 0 PAMELA H LEWANDA 1.00 X 0 0 0 SUSAN V MAHONEY 1.00 X 0 0 0 INGRID MCMENAMIN 1.00 X 0 0 0 ALICE P MELLY 1.00 X 0 0 0 JAMES E MURPHY 1.00 X 0 0 0 SARA L NELSON 1.00 X 0 0 0 ANDREW PROZES 1.00 X 0 0 0 LEAH S RUKEYSER 1.00 X 0 0 0 BRENDA TAGGART THOMPSON 1.00 X 0 0 0 MICHEL C WITMER 1.00 X 0 0 0 JOHN W WATLING III 1.00 X 0 0 0 PETER J TESEI 1.00 X 0 0 0 STEPHEN G WALKO 1.00 X 0 0 0 DARBY CARTUN 1.00 X 0 0 0 SACHIKO GOODMAN 1.00 X 0 0 0 PETER SUTTON 35.00 X 265477 0 41739 GREGORY HOLLOP 35.00 X 125589 0 28679 391066 0 70418 2 0 1 0 0 437799 618122 111783 904419 79428 2072123 GREENWICH, CT SUPPORT 712110 766215 766215 ADMISSIONS 712110 139082 139082 MEMBERSHIP DUES 712110 85310 85310 WORKSHOP/PROGRAM FEES 712110 30544 30544 1021151 582054 582054 17232 17232 17232 17232 507347 491656 15691 15691 7384 8307 617661 618122 470604 147057 147057 236996 175924 61072 61072 MISCELLANEOUS REVENUE 900099 500 500 UBI FROM PASS-THROUGHS 900099 -2098 -2098 -1598 3914782 1099955 5286 737418 45958 45958 423213 279972 59150 84091 1794211 1338133 49741 406337 75700 56018 2271 17411 323110 239102 9693 74315 163119 120708 4894 37517 36091 80 36011 39220 29023 1961 8236 74611 59886 14375 350 94021 94021 374052 309681 30692 33679 94340 78501 3046 12793 182856 140311 8967 33578 47289 41169 3255 2865 32975 7411 5654 19910 254477 188313 12724 53440 29539 21859 1477 6203 HOSPITALITY 119163 41965 25138 52060 EXHIBITIONS/COLLECTIONS 86430 86430 HONORARIUM 42106 42106 UNRELATED BUSINESS EXPE 698 698 96927 45217 20976 30734 4430106 3265864 290723 873519 104732 35218 2625109 1930373 3528275 2068700 153888 117845 103100 127766 7475097 4818221 2865897 2656876 13346710 16496128 2171547 2711615 24899258 26144521 251912 163293 296514 150000 41750 548426 355043 X 3884511 5768347 2656203 2314201 17810118 17706930 24350832 25789478 24899258 26144521 X -515324 1953970 X X 0 1 1 X 0 X 6649620 6344072 3618077 2025951 2072123 20709843 6649620 6344072 3618077 2025951 2072123 20709843 3965276 16744567 1101729 1114844 536123 334853 599286 3686835 29350 44199 1385347 1390086 1258647 4107629 28504307 6565509 0.58740 0.54280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15694521 711909 3634925 842965 19198390 14153549 1183725 1075342 718095 15694521 17005046 922279 -2804063 969713 14153549 0.10810 0.89190 0 0 7077537 4558973 2518564 338174 244401 93773 59386 14847 44539 2656876 INTEREST IN LIMITED PARTNERSHIPS 2711615 F 2711615 3914782 4430106 -515324 3342017 -1388047 1953970 1438646 6567781 3342017 53199 646528 4041744 2526037 1388745 1388745 3914782 5129135 53199 646528 699727 4429408 698 698 4430106 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: BMI RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. MANAGEMENT HAS DETERMINED THAT BMI HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION. BMI IS NO LONGER SUBJECT TO AUDITS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO JULY 1, 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: LOSS ON ALLOWANCE FOR UNCOLLECTIBLE PLEDGES -1,388,047. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS DIRECT EXPENSES 470,604. COST OF GOODS SOLD 175,924. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON ALLOWANCE FOR UNCOLLECTIBLE PLEDGES 1,388,047. UNRELATED BUSINESS EXPENSES FROM PASS-THROUGH ENTITIES REPORTED IN UNREALIZED GAINS (LOSSES) ON THE FINANCIAL STATEMENTS 698. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS DIRECT EXPENSES 470,604. COST OF GOODS SOLD 175,924. PART XIII, LINE 4B - OTHER ADJUSTMENTS: UNRELATED BUSINESS EXPENSES FROM PASS-THROUGH ENTITIES REPORTED IN UNREALIZED GAINS (LOSSES) ON THE FINANCIAL STATEMENTS 698. RENAISSANCE BALL 879530 490780 388750 1623 235880 28059 DIMENSIONS IN DINING 215107 90007 125100 0 105278 141146 37335 103811 99400 364 1235783 618122 617661 1623 440558 28423 470604 147057 1 GREENWICH POINT CONSERVANCY PO BOX 377 OLD GREENWICH CT 06870 300229904 501(C)(3) 42472 TO PROVIDE FUNDING FOR COMPLETION OF INTERIOR RENOVATIONS AT THE INNIS ARDEN COTTAGE ON GREENWICH POINT. 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE PURPOSE OF THE GRANT IS TO FUND THE COMPLETION OF INTERIOR RENOVATIONS AT THE INNIS ARDEN COTTAGE ON GREENWICH POINT. REPRESENTATIVES FROM THE BRUCE MUSEUM, INC. VISIT THE RENOVATION SITE TO MONITOR THE PROGRESS OF THE RENOVATIONS. THE BRUCE MUSEUM ALSO REQUESTS UPDATES ON THE PROGRESS OF THE RENOVATIONS FROM REPRESENTATIVES OF THE GREENWICH POINT CONSERVANCY. COPIES OF THE TAX EXEMPT ENTITIES 990 AND FINANCIAL STATEMENTS ARE REQUESTED. X 0 0 0 0 0 0 0 0 0 PETER SUTTON 241556 0 23921 0 0 0 19212 0 22527 0 307216 0 0 0 GREGORY HOLLOP 125589 0 0 0 0 0 9413 0 19266 0 154268 0 0 0 X 4 79428 FAIR MARKET VALUES 0 1 0 FORM 990, PART VI, SECTION A, LINE 6 BRUCE MUSEUM, INC. CAN HAVE THE FOLLOWING CLASSES OF MEMBERSHIP AS THE BOARD HAS AUTHORIZED IN THE BY LAWS: A)INDIVIDUAL MEMBERSHIP B)CORPORATE MEMBERSHIP (WHICH MAY INCLUDE A PARTNERSHIP, TRUST OR OTHER LEGAL ENTITY) C)FAMILY MEMBERSHIP D)PATRON MEMBERSHIP E)BENEFACTOR MEMBERSHIP F)ROBERT BRUCE CIRCLE MEMBERSHIP EACH MEMBERSHIP IN GOOD STANDING IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE MEMBERS. THE PERSONS WHO COMPRISE A FAMILY MEMBERSHIP - TOGETHER IS ENTITLED TO ONE VOTE ON EACH MATTER. A MEMBERSHIP MAY VOTE IN PERSON (THROUGH A DULY AUTHORIZED REPRESENTATIVE IN THE CASE OF A CORPORATE MEMBERSHIP) OR BY VALID PROXY. MEMBERS ARE NOT ENTITLED RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS OR EXCESS DUES OR A SHARE OF THE ORGANIZATION'S NET ASSETS UPON THE ORGANIZATION'S DISSOLUTION. THE BOARD MAY, FROM TIME TO TIME, MODIFY OR ELIMINATE CLASSES OF MEMBERSHIP, MAY ESTABLISH OTHER CLASSES OF MEMBERSHIP, AND QUALIFICATIONS AND PRIVILEGES APPLICABLE TO EACH MEMBERSHIP CLASS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BRUCE MUSEUM, INC. ELECT THE TRUSTEES, OTHER THAN THE EX-OFFICIO TRUSTEES, AT THE ANNUAL MEETING OF THE MEMBERS, BY A MAJORITY VOTE OF THE MEMBERS ENTITLED TO VOTE WHO ARE PRESENT IN PERSON OR BY WRITTEN PROXY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C IT HAS BEEN THE DUTY OF THE BOARD TO MONITOR ANY CONFLICTS OF INTEREST THAT MAY ARISE. THE STAFF NOTIFIES THE BOARD IF THERE ARE ANY CONCERNS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE CONDUCTS AN ANNUAL PERFORMANCE REVIEW OF THE EXECUTIVE DIRECTOR. COMPENSATION IS BASED ON THE EMPLOYEE'S PERFORMANCE AND COMPARABILITY DATA TO THE INDUSTRY STANDARDS. THE BOARD APPROVES THE EXECUTIVE DIRECTOR'S COMPENSATION. THE BOARD APPROVES COMPENSATION OF OTHER EMPLOYEES INDIRECTLY THROUGH APPROVAL OF EACH FISCAL YEAR'S BUDGET. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND THE FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST TO THE ORGANIZATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,342,017. LOSS ON ALLOWANCE FOR UNCOLLECTIBLE PLEDGES -1,388,047. TOTAL TO FORM 990, PART XI, LINE 5: 1,953,970. AUDIT COMMITTEE OVERSIGHT OF AUDIT: FORM 990. PART XI, LINE 2C THE INDEPENDENT AUDITOR IS SELECTED AFTER A REVIEW AND BIDDING PROCESS CONDUCTED BY THE AUDIT COMMITTEE. THE AUDIT COMMITTEE REVIEWS THE FINANCIAL STATEMENT AND MEETS WITH THE INDEPENDENT AUDITORS BEFORE THE AUDIT REPORT AND FINANCIAL STATEMENTS ARE ISSUED. AUDIT FINDINGS, IF ANY, ARE COMMUNICATED TO THE AUDIT COMMITTEE BY THE INDEPENDENT AUDITORS. AUDIT COMMITTEE CONSIDERS THE FINDINGS. AUDIT COMMITTEE RECOMMENDS CORRECTIVE ACTION, IF IN THEIR JUDGEMENT IT IS NEEDED. THERE HAVE BEEN NO CHANGES IN THE PROCESS FROM THE PRIOR YEAR. MUSEUM COLLECTION: FORM 990, PART IV, LINE 8 THE TOWN OF GREENWICH, CONNECTICUT OWNS THE ENTIRE MUSEUM COLLECTION. THE ORGANIZATION OPERATES THE FACILITY AND ORGANIZES THE EXHIBITS PER AN AGREEMENT WITH THE TOWN OF GREENWICH. THE ORGANIZATION PROVIDES SECURITY FOR THE COLLECTION. IT ALSO PERFORMS RESTORATION AND PERSERVATION OF COLLECTION AS NEEDED TO MAINTAIN THE COLLECTION FOR EXHIBITION.