2012-05-15T11:09:27-05:00 2011-06-30 CBIZ TOFIAS 500 BOYLSTON STREET BOSTON MA 02116 990 2010-07-01 042103607 MUSEUM OF FINE ARTS MUSE 6173693281 465 HUNTINGTON AVENUE BOSTON MA 02115 MARK B KERWIN 6173693281 2012-05-15 1 JOSEPH M GISO MST 6177610600 2012-05-15 2010 2016-02-24 21:20:13Z MALCOLM A ROGERS 465 HUNTINGTON AVENUE BOSTON MA 02115 441396697 0 X WWW.MFA.ORG X 1870 MA SEE SCHEDULE O. 44 41 1466 1253 779914 697817 49987517 67506438 34898993 33254546 28025518 39697096 9874141 16623987 122786169 157082067 5830473 5108840 0 0 45453675 48547414 0 0 4656658 64315369 91153817 115599517 144810071 7186652 12271996 1109956349 1184740403 251407220 242959166 858549129 941781237 X SEE SCHEDULE O. 0 0 16152587 1617568 EDUCATION PROGRAMS:THE MUSEUM MAINTAINS AN ONGOING SERIES OF EDUCATION PROGRAMS AND ACTIVITIES AT OUR FACILITY IN BOSTON IN ORDER TO FURTHER THE MISSION OF THE MUSEUM AND PROVIDE EDUCATIONAL OPPORTUNITIES IN ART. EDUCATION PROGRAMS COVER A WIDE SPECTRUM OF TOPICS AND INCLUDE A VARIETY OF STUDIO ART CLASSES AND WORKSHOPS FOR CHILDREN, TEENS AND ADULTS, LECTURES, FILMS, CONCERTS, A VARIETY OF OTHER COURSES, FREE DEMONSTRATIONS AND TALKS IN THE GALLERIES, FREE WORKSHOPS FOR EDUCATORS, SCHOOL GROUP TOURS, PARTNERSHIPS WITH LOCAL AREA SCHOOLS, AFTER-SCHOOL PROGRAMS AND COMMUNITY GROUPS TO ENGAGE YOUTH IN ARTS AND PROGRAMS FOR FAMILY VISITS TO THE MUSEUM. OVER 198,000 VISITORS PARTICIPATED IN THESE VARIOUS PROGRAMS. 17989009 2076431 EXHIBITIONS:WITH A COLLECTION OF NEARLY 450,000 OBJECTS, THE MUSEUM OWNS SOME OF THE MOST RARE AND IMPORTANT ARTISTIC TREASURES IN THE WORLD. SUCH A COLLECTION ENABLES THE MUSEUM TO PRESENT MANY SPECIAL EXHIBITIONS WITH A BALANCE BETWEEN SCHOLARLY PROGRAMS AND THOSE WITH BROAD PUBLIC APPEAL. DURING FISCAL YEAR 2011, THE MUSEUM PRESENTED MORE THAN 26 EXHIBITIONS. SOME HIGHLIGHTS INCLUDE: LUXURIES FROM JAPAN: CULTURAL EXCHANGE IN THE 17TH AND 18TH CENTURIES (SEPT 30, 2009 - JAN 17, 2011); PATTERNS OF LONG AGO: CAFE AND CABARET: TOULOUSE - LAUTREC'S PARIS (NOV 21, 2009 - AUG 8, 2010); OBJECT, IMAGE, COLLECTOR: AFRICAN AND OCEANIC ART IN FOCUS (DEC 12, 2009 - JULY 18, 2010); UNDER THE SKIN: TATTOOS IN JAPANESE PRINTS (APRIL 3, 2010 - JAN 2, 2011); ROMANTIC INTERLUDES: WOMAN IN FIRDAWSI'S SHANAMA (APRIL 24, 2010 - JAN 17, 2011); ALBRECHT DURER: VIRTUOSO PRINTMAKER (NOV 21, 2009 - JULY 5, 2010); NICHOLAS NIXON: FAMILY ALBUM (JULY 28, 2010 - MAY 2, 2011); NEW WORKS: PRINTS, DRAWINGS, COLLAGES (JULY 28, 2010 - MAY 1, 2011); AVEDON FASHION 1044 - 2000 (AUG 10, 2010 - JAN 17, 2011); HEAVEN AND HELL IN JAPANSE ART (AUG 14, 2010 - MAY 2, 2011); STUDIO ARTS PROGRAM (AUG 2, 2010 - JAN 30); CHINESE MASTER PAINTINGS FROM THE COLLECTION (SEPT 4, 2010 - FEB 27, 2011); MILLET AND RURAL FRANCE (SEPT 4, 2010 - MAY 30, 2011); SCAASI: AMERICAN COUTURIER (SEPT 25, 2010 - JUNE 19, 2011); KRISTIN BAKER: NEW PAINTINGS (OCT 2, 2010 - MAR 27, 2011); EMBROIDERIES OF COLONIAL BOSTON: SAMPLERS (NOV 20, 2010 - MAR 13, 2011); FRESH INK: TEN TAKES ON CHINESE TRADITION (NOV 20, 2010 - FEB 13, 2011); MODERNIST PHOTOGRAPHY (NOV 20, 2010 - JULY 3, 2011); ARTISTS ABROAD: LONDON, PARIS, VENICE AND ROME 1825 - 1925 (NOV 20, 2010 - JUNE 26, 2011); MIRROR OF HOLLAND: DRAWINGS FROM THE MAIDA AND GEORGE ABRAMS COLLECTION (NOV 20, 2010 - JULY 3 2011); FLOWER AND FESTIVALS: FOUR SEASONS IN JAPANESE PRINTS (JAN 22 - JUNE 6, 2011); CONVERSATIONS: PHOTOGRAPHY FROM THE BANK OF AMERICA COLLECTION (FEB 9 - JUNE 19, 2011), AN UNSPOKEN DIALOGUE WITH JAPANESE TEA (FEB 12, 2011 - SEPT 23, 2012); STUDENTS CURATE STUDENTS: IMAGINARY ACTIVE (FEB 19 - JUNE 6 2011); EMBROIDERIES OF COLONIAL BOSTON: SCHOOL GIRLS PICTURES (APRIL 2 - AUG 28, 2011); CHIHULY: THROUGH THE LOOKING GLASS (APR 10 - AUG 7, 2011); GLOBAL PATTERNS: DRESS AND TEXTILES IN AFRICA (APRIL 13, 2011 - JAN 8, 2012); COMMUNITY ARTS INITIATIVE: AND THEIR FAMILIES (APR 23 - NOV 27, 2011); THE GODDESS OF MUSIC AND GOOD FORTUNE (MAY 21 - DEC 31, 2011); ALEX WEBB AND REBCCA NORRIS WEBB (MAY 25, 2011 - JAN 16, 2012); TWO MASTERS OF FANTASY: BRESDIN AND REDON (MAY 25, 2011 - JAN 17, 2012); EUROPE AT MID-CENTURY: DUBUFFET, GIACOMETTI, PICASSO (JUNE 25, 2011 - JAN 22, 2012); ETC. 25079777 5108840 23057037 SCHOOL OF MUSEUM OF FINE ARTS PROGRAM:THE SCHOOL OF MUSEUM OF FINE ARTS (THE SCHOOL) IS A MEMBER OF THE NATIONAL ASSOCIATION OF SCHOOLS OF ART AND DESIGN. (THE SCHOOL IS NOT A SEPARATELY INCORPORATED ORGANIZATION AND IS A DIVISION OF THE MUSEUM). COURSES ARE OFFERED IN CERAMICS, DRAWING, FILM AND ANIMATION, FOUNDATIONS, GLASS, METALS, PAINTING, PERFORMANCE, PHOTOGRAPHY, PRINTMAKING AND PAPERMAKING, SCULPTURE, SOUND, TEXT AND IMAGE ARTS, VIDEO, AND VISUAL AND CRITICAL STUDIES. THE SCHOOL AWARDS A DIPLOMA, TWO TYPES OF CERTIFICATES, AND THROUGH ITS AFFILIATION WITH TUFTS UNIVERSITY, MEDFORD, MA, OFFERS THREE UNDERGRADUATE AND TWO GRADUATE DEGREE PROGRAMS. IN ADDITION, THE SCHOOL OFFERS CONTINUING EDUCATION PROGRAMS. DURING THE 2010-11 ACADEMIC YEAR, THE SCHOOL HAD 1,366 STUDENTS ACROSS ALL PROGRAMS. 2918637 3316840 ENTERPRISE:THE MUSEUM SHOP OFFERS A WIDE VARIETY OF MERCHANDISE RELATING TO THE MUSEUM'S COLLECTIONS AND SPECIAL EXHIBITIONS. OFFERINGS AT THE SHOP INCLUDE ART BOOKS, POSTERS, CARDS, GLASS, TEXTILES, JEWELRY AND SCULPTURE. THE MUSEUM SHOP ALSO CONDUCTS A WEB-BASED RETAIL BUSINESS. THE MUSEUM SHOP OFFERS FOR SALE IN ITS SHOP OR THROUGH ITS WEB-BASED OUTLET ITEMS AS DENOTED ABOVE FROM THE MUSEUM'S COLLECTIONS AND FROM SPECIAL EXHIBITIONS WHICH CONTRIBUTE IMPORTANTLY TO THE ACHIEVEMENT OF THE MUSEUM'S EXEMPT EDUCATIONAL PURPOSE BY MAKING WORKS OF ART FAMILIAR TO A BROADER SEGMENT OF THE PUBLIC.THE MUSEUM IS EXEMPT AS AN EDUCATIONAL ORGANIZATION ON THE BASIS OF ITS OWNERSHIP, MAINTENANCE, AND EXHIBITION FOR PUBLIC VIEWING OF WORKS OF ART. THE SALES OF SUCH ITEMS CONTRIBUTES IMPORTANTLY TO THE ACHIEVEMENT TO THE MUSEUM'S EXEMPT EDUCATIONAL PURPOSES BY STIMULATING AND ENHANCING PUBLIC AWARENESS, INTEREST, AND APPRECIATION OF ART. MOREOVER, A BROADER SEGMENT OF THE PUBLIC MAY BE ENCOURAGED TO VISIT THE MUSEUM ITSELF TO SHARE IN ITS EDUCATIONAL FUNCTIONS AND PROGRAMS AS A RESULT OF SEEING THE ITEMS SOLD. 39264628 OPERATING SUPPORT:OPERATING SUPPORT CONSISTS OF ALL OTHER AREAS OF THE MUSEUM, INCLUDING PROTECTIVE SERVICES, FACILITIES AND OTHER AREAS WHICH SUPPORT THE OPERATIONS OF THE MUSEUM AND ITS MISSION. 1237945 3499211 PARKING FACILITIES:THE MUSEUM OWNS A PARKING GARAGE AND HAS TWO OPEN AIR PARKING LOTS. ALL OF THESE FACILITIES ARE OPEN TO MEMBERS AND VISITORS TO THE MUSEUM. THE OPERATION OF ADJACENT PARKING LOTS BY THE MUSEUM IN AREA OF INSUFFICIENT PARKING SPACES FOR THE USE OF ITS VISITORS CONTRIBUTES IMPORTANTLY TO THE MUSEUM'S EXEMPT PURPOSE BY ENCOURAGING VISITATION AND LONGER PERIODS VIEWING OF ITS COLLECTIONS, AND SPECIAL EXHIBITIONS. ANY PROFITS FROM THE FEE CHARGED FOR THE USE OF THE LOT IS PLACED IN THE GENERAL OPERATING FUND. ENCOURAGEMENT TO MUSEUM VISITATION, OF COURSE, IS PROVIDED THROUGH CONVENIENT PARKING. 1065887 2387747 FOOD SERVICES:THE MUSEUM IS ORGANIZED AND OPERATED AS AN ART MUSEUM. THE EATING FACILITIES ARE OPEN TO THE MUSEUM STAFF, EMPLOYEES, AND MEMBERS OF THE PUBLIC VISITING THE MUSEUM AND ARE OF A SIZE COMMENSURATE WITH ACCOMMODATION OF THESE SPECIAL GROUPS OF PATRONS. THE FACILITIES ARE ACCESSIBLE FROM THE MUSEUM'S GALLERIES AND OTHER PUBLIC AREAS BUT NOT DIRECTLY ACCESSIBLE FROM THE STREET. THE PATRONAGE OF THE EATING FACILITIES BY THE GENERAL PUBLIC IS NOT DIRECTLY NOR SOLICITED NOR ARE THE FACILITIES CONTEMPLATED OR DESIGNED TO SERVE AS A PUBLIC RESTAURANT BUT MERELY TO SERVE THE EXEMPT PURPOSES OF THE MUSEUM. THIS ALLOWS VISITORS TO DEVOTE MORE TIME TO THE MUSEUM'S EDUCATIONAL EXHIBITS, AND ENHANCES EFFICIENT MUSEUM OPERATION BY ENABLING STAFF TO REMAIN ON-SITE THROUGHOUT THE DAY. THE OPERATION OF THE EATING FACILITIES WITHIN THE MUSEUM PREMISES HELPS TO ATTRACT VISITORS TO THE MUSEUM EXHIBITS. BECAUSE THERE ARE PLACES OF REFRESHMENT IN THE MUSEUM VISITORS ARE ABLE TO DEVOTE A GREATER PORTION OF THEIR TIME AND ATTENTION TO THE MUSEUM'S COLLECTION, EXHIBITS AND OTHER EDUCATIONAL FACILITIES. THE MUSEUM CREATES AN EDUCATIONAL PROGRAM FOR ITS PARTICIPANTS, FOCUSING ON AN EXHIBIT, LECTURE OR TOUR FOR PRIVATE AND CORPORATE FUNCTIONS. 3866676 6503510 MEMBERSHIP & VISITORS:OVER 1,200,000 VISITORS ATTENDED THE MUSEUM DURING FISCAL YEAR 2011. THE MUSEUM HAS AN ADMISSION CHARGE; HOWEVER DURING THE FISCAL YEAR 2011, THERE WERE TEN COMMUNITY DAYS DURING WHICH ADMISSION CHARGES WERE WAIVED, AND THE MUSEUM HAS FREE ADMISSION EACH WEDNESDAY EVENING. THE MUSEUM HAS APPROXIMATELY 72,000 ACTIVE MEMBERS HOUSEHOLDS. THERE ARE 8 LEVELS OF ANNUAL MEMBERSHIP WITH FEES RANGING FROM $75 TO $1,000. EACH CATEGORY OFFERS A WIDE VARIETY OF PRIVILEGES, SUCH AS FREE ADMISSION, PUBLICATIONS, RECIPROCAL MEMBER BENEFITS AT OTHER MAJOR ART MUSEUM AROUND THE U.S. AND SPECIAL EVENTS. 4439273 7159497 OTHER MISC. PROGRAM SERVICES: 52793046 22866805 112014419 1 1 0 0 0 0 1 0 1 1 1 0 1 1 0 0 1 0 0 1 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 1 0 0 0 0 1 1905 19 1 1466 1 1 1 0 0 0 0 1 1 0 0 0 0 0 X 44 41 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA NY X X MARK B KERWIN CPA CFO 6173693281 465 HUNTINGTON AVENUE BOSTON MA 021155523 PETER C ALDRICH 1.00 X 0 0 0 BARBARA ALFOND 1.00 X X 0 0 0 KEVIN CALLAGHAN 1.00 X 0 0 0 BETTINA BURR 1.00 X X 0 0 0 DAVID GOEL 1.00 X 0 0 0 DAVID D CROLL 1.00 X 0 0 0 JOHN DEUTCH 1.00 X 0 0 0 SUSAN DONAHUE 1.00 X 0 0 0 WILLIAM R ELFERS 1.00 X 0 0 0 STEPHEN A FINE 1.00 X 0 0 0 NICHOLAS GREVILLE 1.00 X 0 0 0 JEFFREY E HORVITZ 1.00 X 0 0 0 WILLIAM HUNT 1.00 X 0 0 0 ELLEN JAFFE 1.00 X 0 0 0 SUSAN B KAPLAN 1.00 X 0 0 0 JODY GILL 1.00 X 0 0 0 KATHERINE R KIRK 1.00 X 0 0 0 C KEVIN LANDRY 1.00 X 0 0 0 CAROL NOBLE 1.00 X 0 0 0 JOYCE LINDE 1.00 X 0 0 0 RICHARD LUBIN 1.00 X X 0 0 0 ELLYN MCCOLGAN 1.00 X 0 0 0 SANDRA O MOOSE 1.00 X 0 0 0 SCOTT NATHAN 1.00 X 0 0 0 SLOCUMB HOLLIS PERRY 1.00 X 0 0 0 ROGER SERVISON 1.00 X 0 0 0 ROSE-MARIE VAN OTTERLOO 1.00 X 0 0 0 TIMOTHY PHILLIPS 1.00 X 0 0 0 STOKLEY TOWLES 1.00 X X 0 0 0 M PENNY VINIK 1.00 X 0 0 0 ERNST VON METZSCH 1.00 X 0 0 0 PAMELA VOSS 1.00 X 0 0 0 CAROL WALL 1.00 X 0 0 0 MATTHEW A WEATHERBIE 1.00 X 0 0 0 THERESA STONE - MIT 1.00 X 0 0 0 PETER GOMES - HARVARD U 1.00 X 0 0 0 DONNA M DEPRISCO - BPL 1.00 X 0 0 0 CAROL JOHNSON - SUPERINTENDENT 1.00 X 0 0 0 THOMAS M MENINO-MAYER CITY OF BOSTO 1.00 X 0 0 0 PAULA MATTHEWS - BOSTON ATHENAEUM 1.00 X 0 0 0 SALLY REDMOND - MFA ASSOCIATES 1.00 X 0 0 0 CATHY BENNINGSON - SMFA BOARD OF 1.00 X 0 0 0 LISBETH TARLOW 1.00 X 0 0 0 P ANDREWS MCLANE 1.00 X 0 0 0 MALCOLM A ROGERS 40.00 X 611623 0 216307 PATRICIA JACOBY 40.00 X 311301 0 35054 KATHERINE G GETCHELL 40.00 X 288133 0 29399 MARK KERWIN 40.00 X 262871 0 38172 KIMBERLY FRENCH 40.00 X 260381 0 32471 DEBORAH H DLUHY 40.00 X 147715 0 13304 CHRISTOPHER BRATTON 40.00 X 176098 0 6650 WALTER UPTON 40.00 X 424069 0 32746 ANNE COWIE 40.00 X 161928 0 26037 GEORGE T M SHACKELFORD 40.00 X 156627 0 6244 WILLIAM J MCAVOY 40.00 X 174554 0 32005 CYNTHIA GLOTT 40.00 X 163975 0 27740 3139275 0 496129 41 0 1 0 JOHN MORIARTY & ASSOCIATES 3 CHURCH ST WINCHESTER MA 01890 CONSTRUCTION 6855036 CONSIGLI CONSRUCTION CO INC 72 SUMMER ST MILFORD MA 01757 CONSTRUCTION 3175227 MEDIAWORKS LLC 600 BRUSH HILL RD MILTON MA 02186 ADVERTISING 2100727 RESTAURANT ASSOCIATES PO BOX 91337 CHICAGO IL 60693 CATERING 1649880 SHAWMUT DESIGN & CONSTRUCTION 560 HARRISON AVE BOSTON MA 02118 CONSTRUCTION 1264550 58 9558545 86976 78175 57782742 67506438 TUITION SCHOOL 611600 23057037 23057037 ADMISSION FEES INCOME 713990 6503510 6503510 EXHIBITION INCOME 713990 2076431 2076431 EDUCATION PROGRAM REVE 611710 1617568 1617568 33254546 2974922 694025 2280897 3443254 3182562 260692 260692 79695 180997 313921310 334300 277255389 278047 36665921 56253 36722174 36722174 22826 86976 45240 -22414 -22414 6870232 3553392 3316840 3316840 OTHER ANCILLARY SERVIC 900099 7181911 7175717 6194 PARKING 812930 3499211 3499211 FOOD SERVICES 722100 2387747 2387747 13068869 157082067 49634061 779914 39161654 5108840 5108840 2234183 701472 1249120 283591 35519344 29113149 4080817 2325378 2374934 1880238 331076 163620 5178664 4108962 829996 239706 3240289 2565341 451710 223238 983110 983110 672708 50367 622341 271870 77160 194710 6112020 1185689 4874248 52083 2081224 1425623 455639 199962 5499006 4511780 987226 2554044 2104119 269213 180712 1544657 193697 1344157 6803 6659866 6419546 240320 1541624 1106139 217981 217504 4610405 3673789 936616 18417318 18051349 357224 8745 953304 436150 517154 PURCHASE WORKS OF ART 10557722 10557722 CONSTRUCTION EXPENSES 6321500 6321500 EQUIPMENT & RENTAL 5513206 5097678 362865 52663 SCHOOL EXPENSES 3788201 3788201 EXHIBITION & SPEC. PROG 3394525 3394525 9677507 5479773 3495081 702653 144810071 112014419 28138994 4656658 642654 10931606 78649598 60427402 88926945 75020003 2226364 3526753 130000 1799143 1839665 2407394 2603766 583155829 137168070 456690417 445987759 308052058 386940669 169577977 193926785 983799 3405995 1109956349 1184740403 26210734 23083938 5135223 4199835 185000000 185000000 2579125 3340802 32482138 27334591 251407220 242959166 X 250831429 236055726 344970120 434095504 262747580 271630007 858549129 941781237 1109956349 1184740403 X 12271996 70960112 X 0 1 1 X 1 1 X 68005918 141271930 53382292 49987517 67506438 380154095 68005918 141271930 53382292 49987517 67506438 380154095 70845318 309308777 9981850 11625229 5266330 3356102 2974922 33204433 413358528 241868780 0.74830 0.76410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 484035285 17284493 88079218 789747 11728460 4730068 572150721 431307346 15286729 51488970 825952 9099257 4122551 484035285 565221813 14883910 -132050777 886089 13208912 2652599 431307346 0.01000 0.41000 0.58000 1 0 20304653 20304653 515233016 122563850 392669166 42040308 14604220 27436088 5577852 5577852 445987759 171224000 F BENEFICIAL INTEREST IN PERPETUAL TRUST 22702785 F 193926785 BOND ISSUANCE COST 288058 OTHER ASSETS 3117937 3405995 LINE OF CREDIT 1188573 ASSET RETIREMENT OBLIGATION 6209155 LIABILITY UNDER INTEREST RATE SWAP 19274450 OTHER LIABILITIES 662413 27334591 157082067 144810071 12271996 69053368 1213122 693622 70960112 83232108 230093305 69053368 1213122 7429576 77696066 152397239 4730068 -45240 4684828 157082067 146861197 6781194 6781194 140080003 4730068 4730068 144810071 PART III, LINE 1A: IN ACCORDANCE WITH THE GENERAL PRACTICE OF ART MUSEUMS, THE COSTS OF WORKS OF ART ARE CHARGED DIRECTLY TO THE FUNDS AVAILABLE FOR SUCH PURPOSES AND ARE NOT CAPITALIZED. THE VALUE OF OBJECTS ACQUIRED BY GIFT CANNOT BE REASONABLY ESTIMATED AND, THEREFORE, ARE NOT RECORDED IN THE STATEMENT OF ACTIVITIES. PART III, LINE 4: THE MUSEUM OF FINE ARTS, BOSTON WAS FOUNDED IN 1870 FOR THE PURPOSES OF "ERECTING A MUSEUM FOR THE PRESERVATION AND EXHIBITION OF WORKS OF ART, OF MAKING, MAINTAINING AND EXHIBITING COLLECTIONS OF SUCH WORKS, AND OF AFFORDING INSTRUCTION IN THE FINE ARTS." THE COLLECTIONS ARE CENTRAL TO THE MUSEUM'S ENDEAVORS, AND TO FOSTERING THE UNDERSTANDING AND ENJOYMENT OF ORIGINAL WORKS OF ART. THE MFA IS ONE OF THE WORLD'S GREAT ENCYCLOPEDIC INSTITUTIONS AND AS SUCH ACTIVELY COLLECTS WORKS OF ART FROM ALL TIME PERIODS AND ACROSS ALL CONTINENTS. ALL THE WORKS OF ART CONTRIBUTE TO THE MUSEUM'S GUIDED TOURS, LECTURES, FILMS, GALLERY TALKS, CONCERTS, ARTS FESTIVALS, EDUCATION PROGRAMS, INTER-MUSEUM LOAN, PERMANENT, TEMPORARY AND TRAVELING EXHIBITIONS, WHICH FULFILL ITS MISSION. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MUSEUM'S ENDOWMENT IS UTILIZED TO SUPPORT THE MISSION OF THE MUSEUM, INCLUDING THE PRESERVATION, EXHIBITION AND MAINTENANCE OF THE MUSEUM'S COLLECTION, AS WELL AS VARIOUS EDUCATION AND OTHER PROGRAMS OF THE MUSEUM. THE MUSEUM'S ENDOWMENT CONSISTS OF OVER 700 INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: NO ASC 740 DISCLOSURE NOTED IN FOOTNOTES OF CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2011. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS -3,801,220. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS 4,494,842. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS -3,801,220. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS 4,494,842. COST OF SALES - MERCHANDISING OPERATIONS 3,553,392. RENTAL EXPENSES 3,182,562. PART XII, LINE 4B - OTHER ADJUSTMENTS: ART IN BLOOM EXPENSE NET WITH REVENUE -45,240. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES - MERCHANDISING OPERATIONS 3,553,392. ART IN BLOOM EXPENSE NET WITH REVENUE 45,240. RENTAL EXPENSES 3,182,562. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT N/A 76796906 0 0 0 0 0 0 76796906 0 76796906 1 0 1 1 1 0 ART IN BLOOM 109802 86976 22826 45240 109802 86976 22826 45240 45240 -22414 1 STUDENT FINANCIAL AID - OPERATING FUNDS SCHOLARSHIP 350 2979224 STUDENT FINANCIAL AID - ENDOWED FUNDS SCHOLARSHIP 116 559045 STUDENT FINANCIAL AID - FULL SCHOLARSHIP 14 233994 STUDENT FINANCIAL AID - MERIT SCHOLARSHIP 137 1066632 STUDENT TRAVEL AWARDS 27 121880 FACULTY ENRICHMENT AWARD PROGRAMS 67 148065 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: 96% OF TOTAL GRANTS AND OTHER ASSISTANCE ARE RELATED TO INSTITUTIONAL FINANCIAL AID FOR WHICH STUDENTS APPLY THROUGH THE FINANCIAL AID OFFICE. ALL AID IS AWARDED BASED ON CERTAIN GUIDELINES AND IS CREDITED DIRECTLY TO STUDENTS' TUITION ACCOUNTS. ALL AWARDS ARE DIRECTLY RELATED TO THE STUDENTS' EDUCATION AT THE INSTITUTION'S PHYSICAL LOCATION IN THE UNITED STATES. STUDENTS ARE REQUIRED TO COMPLETE A REVIEW OF ART WITH INSTRUCTORS AT THE END OF EACH SEMESTER TO RECEIVE CREDIT. TRAVELING SCHOLAR GRANTS ARE AWARDED TO FIFTH YEAR STUDENTS BASED UPON A PROPOSAL AND PORTFOLIO GRADING. TRAVELING SCHOLARS ARE REQUIRED TO SHOW THEIR WORK AT AN ANNUAL EXHIBITION HELD ON THE ORGANIZATION'S PREMISES. FACULTY ENRICHMENT AWARDS ARE GIVEN TO CURRENT, ON-SITE FACULTY MEMBER TO PURSUE VARIOUS PROJECTS. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MALCOLM A ROGERS 547539 0 0 0 64084 0 208728 0 7579 0 827930 0 766967 0 PATRICIA JACOBY 308253 0 0 0 3048 0 22050 0 13004 0 346355 0 337279 0 KATHERINE G GETCHELL 287893 0 0 0 240 0 22050 0 7349 0 317532 0 310799 0 MARK KERWIN 262319 0 0 0 552 0 22050 0 16122 0 301043 0 291656 0 KIMBERLY FRENCH 259829 0 0 0 552 0 19624 0 12847 0 292852 0 285197 0 DEBORAH H DLUHY 144672 0 0 0 3043 0 12017 0 1287 0 161019 0 253829 0 CHRISTOPHER BRATTON 94335 0 0 0 81763 0 0 0 6650 0 182748 0 0 0 WALTER UPTON 272193 0 150000 0 1876 0 19625 0 13121 0 456815 0 359794 0 ANNE COWIE 161928 0 0 0 0 0 13599 0 12438 0 187965 0 0 0 GEORGE T M SHACKELFORD 156070 0 0 0 557 0 0 0 6244 0 162871 0 0 0 WILLIAM J MCAVOY 174195 0 0 0 359 0 16200 0 15805 0 206559 0 205848 0 CYNTHIA GLOTT 163644 0 0 0 331 0 15300 0 12440 0 191715 0 192595 0 PART I, LINE 1A TAXABLE HOUSING ALLOWANCE OF $62,500 WAS PAID TO MALCOLM ROGERS BASED ON THE EMPLOYMENT CONTRACT. TAXABLE HOUSING ALLOWANCE OF $40,250 AND TAXABLE MOVING EXPENSE OF $41,512 WERE PAID TO CHISTOPHER BRATTON BASED ON THE EMPLOYMENT AGREEMENT. MASS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 042456011 57586CV69 2007-12-13 185000000 NEW MONEY FOR CONSTRUCTION 0 0 0 185802983 1134172 184668811 2010 0 0 1 1 0 1 1 0 1 0.00000 0.00520 0.00520 1 0 1 1 BANK OF AMERICA 20.000000000000 0 0 0 0 0 SCHEDULE K SUPPLENTAL INFORMATION THE MUSEUM'S BONDS WERE ISSUED IN DECEMBER 2007 AND MATURE IN 2037, A THIRTY YEAR PERIOD. THE PERCENTAGE CALCULATED AS PRIVATE BUSINESS USE IS FOR THE CURRENT FISCAL YEAR SPANNING JULY 1, 2010 THROUGH JUNE 30, 2011. THE OVERALL MEASUREMENT PERIOD FOR PRIVATE BUSINESS USE IS MEASURED OVER THE ENTIRE THIRTY YEAR TERM OF THE BONDS. CHRISTOPHER BRATTON TO PROVIDE BRIDGE FINANCING DURING THE SALE OF THE EMPLOYEE'S PRIOR HOME. X 100000 100000 0 1 1 CHRISTOPHER BRATTON TO PROVIDE BRIDGE FINANCING FOR THE RELOCATION COST OF EMPLOYEE AND FAMILY. X 30000 30000 0 1 1 130000 SEVENTH BERKSHIRE ASSOCIATES LLCKE TRUSTEE 127775 MR. KEVIN CALLAGHAN, A TRUSTEE OF THE MFA, IS A SHAREHOLDER OF SEVENTH BERKSHIRE ASSOCIATES LLC. THE MFA INVESTS IN BERKSHIRES FUND VII L.P. AND PAYS A MANAGEMENT FEE VIA ITS INTEREST. 0 BAUPOST GROUP LLCSCOTT NATHAN TRUSTEE 771960 MR. SCOTT NATHAN, A TRUSTEE OF THE MFA, IS A SHAREHOLDER OF BAUPOST GROUP, LLC. THE MFA INVESTS IN BAUPOST VALUE PARTNERS IV LP AND PAYS A MANAGEMENT FEE VIA ITS INTEREST. 0 SEVENTH BERKSHIRE ASSOCIATES LLCRI TRUSTEE 127775 MR. RICHARD LUBIN, A TRUSTEE OF THE MFA, IS A SHAREHOLDER OF SEVENTH BERKSHIRE ASSOCIATES LLC. THE MFA INVESTS IN BERKSHIRES FUND VII L.P. AND PAYS A MANAGEMENT FEE VIA ITS INTEREST. 0 X 277 0 59 0 1 0 NON REPORTING OF REVENUE: PART I, LINE 33: IN ACCORDANCE WITH THE GENERAL PRACTICE OF ART MUSEUMS, THE COSTS OF WORKS OF ART ARE CHARGED DIRECTLY TO THE FUNDS AVAILABLE FOR SUCH PURPOSES AND ARE NOT CAPITALIZED. THE VALUE OF OBJECTS ACQUIRED BY GIFT CANNOT BE REASONABLY ESTIMATED AND, THEREFORE, ARE NOT RECORDED IN THE STATEMENT OF ACTIVITIES. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS THE 990 DURING A COMMITTEE MEETING. A COPY OF THE FULL 990 IS PROVIDED TO THE COMMITTEE, WHO REVIEW AND APPROVE THE 990 PRIOR TO ITS REVIEW BY THE FULL GOVERNING BODY. THIS REVIEW IS REPORTED TO THE BOARD AT ITS SPRING MEETING. THE FULL 990 IS MADE AVAILABLE TO THE GOVERNING BOARD VIA AN INTERNAL WEBSITE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO SIGN CONFLICT OF INTEREST FORMS ON AN ANNUAL BASIS. COMPLETION OF THE FORMS IS TRACKED AND THE CONTENTS OF THE FORMS ARE REVIEWED BY THE MUSEUM. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD MAINTAINS A COMPENSATION COMMITTEE. THIS COMMITTEE REVIEWS AVAILABLE DATA FROM THE MFA'S PEER MUSEUMS, AS WELL AS PARTICIPATING IN SURVEYS WITH PEER MUSEUMS CONCERNING COMPENSATION. THE COMMITTEE UTILIZED THE INFORMATION OBTAINED CONCERNING PEER MUSEUMS' DIRECTORIES SALARY AND OTHER COMPENSATION INFORMATION, COMBINED WITH PERFORMANCE MEASUREMENT, TO DISCUSS AND DETERMINE APPROPRIATE COMPENSATION FOR THE DIRECTOR AND KEY OFFICERS. DOCUMENTATION OF PEER DATA ON COMPENSATION AND PERFORMANCE MEASUREMENT IS MAINTAINED. FORM 990, PART VI, SECTION C, LINE 19 THE MUSEUM'S FULL FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMMONWEALTH OF MASSACHUSETTS ATTORNEY GENERAL'S WEBSITE, GUIDESTAR.ORG AND UPON REQUEST FROM THE MUSEUM. CERTAIN EXCERPTS OF THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE MUSEUM'S WEBSITE (WWW.MFA.ORG). CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 69,053,368. DONATED SERVICES AND USE OF FACILITIES: 1,213,122. CHANGE IN FAIR VALUE OF SPLIT INTEREST AGREEMENTS -3,801,220. CHANGE IN FAIR VALUE OF INTEREST RATE SWAP AGREEMENTS 4,494,842. TOTAL TO FORM 990, PART XI, LINE 5: 70,960,112. PART I, BOND ISSUES AND PART IV ARBITRAGE FORM 990, SCHEDULE K, SUPPLEMENTAL INFORMATION ON TAX EXEMPT BONDS PART I- BOND ISSUES, LINE A: COLUMN (C) ADDITIONAL CUSIP #57586CK95 PART IV- ARBITRAGE, LINE 3B: ADDITIONAL NAME OF PROVIDER: MERRILL LYNCH PART IV- ARBITRAGE, LINE 3C: ADDITIONAL TERM OF HEDGE: 3.08 YEARS PART IV, LINE 6: DID THE BOND ISSUE QUALIFY FOR AN EXCEPTION TO REBATE?: THE MUSEUM'S BOND ISSUANCE IS NOT EXEMPT FROM A REBATE ANALYSIS. THE MUSEUM HAS NOT YET FILED AN ARBITRAGE REBATE ANALYSIS DUE TO THE NEWNESS OF THE BONDS BUT WILL FILE AN ARBITRAGE REBATE ANALYSIS WHEN REQUIRED. THE SCHEDULE K CALCULATION WAS PERFORMED BY AN INDEPENDENT THIRD PARTY WHICH SPECIALIZES IN PERFORMING THESE CALCULATIONS. THE MUSEUM'S BONDS WERE ISSUED IN DECEMBER 2007 AND MATURE IN 2037, A THIRTY YEAR PERIOD. THE PERCENTAGE CALCULATED AS PRIVATE BUSINESS USE IS FOR THE CURRENT FISCAL YEAR SPANNING JULY 1, 2010 THROUGH JUNE 30, 2011. THE OVERALL MEASUREMENT PERIOD FOR PRIVATE BUSINESS USE IS MEASURED OVER THE ENTIRE THIRTY YEAR TERM OF THE BONDS. MUSEUM ENTERPRISE PARTNERS INC 465 HUNTINGTON AVENUE BOSTON MA 02115 043554307 SALES OF ART AND RELATED MERCHANDISE DE N/A C 36573 1.00000 CHARITABLE REMAINDER UNITRUST 465 HUNTINGTON AVENUE BOSTON MA 02115 TRUST MA N/A T CHARITABLE REMAINDER ANNUITY TRUST 465 HUNTINGTON AVENUE BOSTON MA 02115 TRUST MA N/A T PERPETUAL TRUST 465 HUNTINGTON AVENUE BOSTON MA 02115 TRUST MA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0