2012-03-15T12:30:46-05:00 2011-06-30 NISIVOCCIA LLP 200 VALLEY RD SUITE 300 MT ARLINGTON NJ 07856 990 2010-07-01 221487582 THE MONTCLAIR ART MUSEUM MONT 9737465555 3 SOUTH MOUNTAIN AVENUE MONTCLAIR NJ 07042 LORA URBANELLI 9737465555 2012-03-17 1 THOMAS R DARTNELL CPA 9733281825 2012-03-17 2010 2016-02-24 21:20:13Z LORA URBANELLI 3 SOUTH MOUNTAIN AVENUE MONTCLAIR NJ 07042 6585975 0 X WWW.MONTCLAIRARTMUSEUM.ORG X 1914 NJ THE MONTCLAIR ART MUSEUM, ALONG WITH ITS YARD SCHOOL OF ART, ENGAGES A DIVERSE COMMUNITY THROUGH ITS DISTINCTIVE COLLECTION OF AMERICAN AND NATIVE AMERICAN ART, EXIBITIONS, AND EDUCATIONAL PROGRAMS THAT LINK ART TO CONTEMPORARY LIFE IN A GLOBAL CONTEXT. 39 39 96 378 0 0 3146692 3316510 1192009 803063 619247 406496 445525 -11755 5403473 4514314 3090 7260 0 0 1899636 2065744 0 0 400550 3640694 2364197 5543420 4437201 -139947 77113 23506963 23796169 6801541 6164673 16705422 17631496 X THE MUSEUM COLLECTS, PRESERVES AND PRESENTS AMERICAN AND NATIVE AMERICAN ART. ITS INNOVATIVE EXHIBITIONS AND EDUCATIONAL PROGRAMS INTERPRET AND EXPLORE RELATIONSHIPS BETWEEN THESE TWO EVOLVING ARTISTIC TRADITIONS. THE MUSEUMS EXHIBITIONS OFFER GROUNDBREAKING SCHOLARSHIP, FRESH THEMATIC APPROACHES, FIRST-TIME PRESENTATIONS OF UNDER-RECOGNIZED ARTISTS, EXAMINATIONS OF LITTLE-KNOWN ASPECTS OF MAJOR ARTISTS CAREERS, AND AN ONGOING COMMITMENT TO THE ARTISTS AND CULTURE OF NEW JERSEY. 0 0 1305207 81739 CURATORIAL:THE MONTCLAIR ART MUSEUM INSPIRES AND ENRICHES THE LIVES OF OVER 64,000 VISITORS THROUGH EXHIBITIONS HELD AT THE MUSEUM OR SELF-ORGANIZED NATIONALLY TRAVELING SPECIAL EXHIBITIONS. THE MUSEUM'S PUBLICATIONS OFTEN ACCOMPANY THESE EXHIBITIONS. 1439290 648252 EDUCATION:THE MUSEUM OFFERS A DIVERSE SCHEDULE OF PROGRAMS DESIGNED TO ENGAGE A BROAD RANGE OF AUDIENCES. THROUGH OUR LINE UP OF LECTURES, GALLERY TOURS AND INTERDISCIPLINARY PRESENTATIONS OF MUSIC, DANCE, FILM AND LITERATURE, THE MUSEUM LOOKS FOR UNIQUE WAYS TO PROVIDE VISITORS WITH ACCESSIBLE AND UNIQUE OPPORTUNITIES TO LEARN ABOUT ART. THE MUSEUM ALSO OFFERS A VARIETY OF COURSES IN ART STUDIO PROCESSES WHICH OFTEN RELATE TO CURRENT EXHIBITIONS AND PROGRAMMING. 229418 382305 MEMBERSHIP:THE MONTCLAIR ART MUSEUM INCLUDES MORE THAN 2,500 MEMBER HOUSEHOLDS. MEMBERS HAVE ACCESS TO EXCLUSIVE PROGRAMS AND EVENTS AND ALSO ENJOY DISCOUNTS FROM THE ART SCHOOL. THE MUSEUM ALSO ENJOYS THE ACTIVE SERVICE OF OVER 200 VOLUNTEERS WHO MAKE PROFOUND CONTRIBUTIONS BY WORKING AS INTERNS, SPECIAL EVENTS ASSISTANTS, AND DONORS, TOGETHER PROVIDING MORE THAN 12,000 VOLUNTEER HOURS ANNUALLY. 255800 122683 MUSEUM STORE:THE STORE OFFERS MERCHANDISE RELATED TO THE MUSEUM'S COLLECTIONS OF AMERICAN AND NATIVE AMERICAN ART AS WELL AS NEW AND PRINT-OUT BOOKS. FURTHERMORE, THEY PROVIDE DESIGNED OBJECTS THAT CAN BE ENJOYED BY THE WHOLE FAMILY. 255800 122683 3229715 1 1 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 35 0 96 1 0 0 0 0 0 1 1 0 0 0 0 X 39 39 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ X LORA URBANELLI 9737465555 3 SOUTH MOUNTAIN AVENUE MONTCLAIR NJ 07042 ADRIAN SHELBY 3.00 X X 0 0 0 REGINALD HOLLINGER 2.00 X X 0 0 0 ROSE CALI 3.00 X X 0 0 0 FRANK WALTER III 5.00 X X 0 0 0 LYN REITER 3.00 X X 0 0 0 LINNY ANDLINGER 2.00 X 0 0 0 MICHAEL A BACKER 2.00 X 0 0 0 SUSAN BERSHAD MD 2.00 X 0 0 0 SYLVIA COHN 3.00 X 0 0 0 ROBERT MAX CRANE 2.00 X 0 0 0 DEBORAH DAVIS 2.00 X 0 0 0 LYNN GLASSER 3.00 X 0 0 0 MICHAEL HENINGBURG JR 2.00 X 0 0 0 JAMES E JOHNSON 2.00 X 0 0 0 HERBERT C KLEIN 2.00 X 0 0 0 KAREN G MANDELBAUM 3.00 X 0 0 0 ROBERT NOSSA 2.00 X 0 0 0 RUTH M PERRETTI 2.00 X 0 0 0 JANET TAYLOR PICKETT 2.00 X 0 0 0 GRETCHEN PRATER 2.00 X 0 0 0 ANN SCHAFFER 2.00 X 0 0 0 NEWTON B SCHOTT JR 5.00 X 0 0 0 PATRICIA SELDEN 2.00 X 0 0 0 JASON SLOSBERG 3.00 X 0 0 0 NADER TAVAKOLI 2.00 X 0 0 0 DONNA M UHER 2.00 X 0 0 0 IRA A WAGNER 5.00 X 0 0 0 CAROL WALL 3.00 X 0 0 0 DONALD B ZIEF 2.00 X 0 0 0 SUSAN COLE 2.00 X 0 0 0 MARILYN H DORE 2.00 X 0 0 0 PATTI ELLIOTT 2.00 X 0 0 0 AUDREY GAELEN 2.00 X 0 0 0 MARILYN R GREENE 2.00 X 0 0 0 FRAZEAL L HARRIS 2.00 X 0 0 0 FRED H LANGBEIN 2.00 X 0 0 0 SENGAL M G SELASSIE 2.00 X 0 0 0 SHARON TAYLOR 2.00 X 0 0 0 WILLIAM H TURNER 2.00 X 0 0 0 ROBERT CONSTABLE 3.00 X 0 0 0 MEGAN GRITSMAN 40.00 X 51039 0 11503 LORA URBANELLI 40.00 X 123912 0 11360 ESTHER S HARPER 40.00 X 100000 0 1500 274951 0 24363 2 0 0 0 BJORK BUILDERS 157 GODWIN AVENUE MIDLAND PARK NJ 07432 CONSTRUCTION 109020 1 363033 391900 290136 2271441 3316510 ART SCHOOL TUITION 611710 563892 563892 EDUCATION PROGRAM 611710 78165 78165 NON PROFIT RENTAL 611710 53800 53800 PROGRAM SERVICE REVENU 611710 19272 19272 CURATORIAL PROGRAM 611710 6195 6195 81739 81739 803063 150937 150937 76453 72121 4332 4332 4332 1940558 74756 1759755 180803 74756 255559 255559 99495 391900 179699 -80204 -80204 122683 60086 62597 62597 OTHER REVENUE 900099 1520 1520 1520 4514314 871512 0 326292 7260 7260 197814 81164 89596 27054 1569381 1210245 161242 197894 19938 14395 328 5215 87893 59498 27217 1178 190718 129127 25489 36102 135925 135925 1733 1733 28740 28740 59375 59375 287098 213315 32364 41419 194446 187785 1348 5313 275570 204001 15406 56163 444915 401360 25261 18294 278680 278680 461417 452189 4614 4614 93261 78817 9875 4569 MISCELLANEOUS 59019 54159 2125 2735 BAD DEBT EXPENSE 43543 43543 ACQUISITIONS 475 475 4437201 3229715 806936 400550 1534670 1036364 3826203 3686141 787680 1670810 252540 47301 76887 77826 52001 58259 18408103 6730527 11698373 11677576 5225884 5494528 52725 47364 23506963 23796169 984065 446803 206864 261851 5260000 5260000 44709 27620 305903 168399 6801541 6164673 X 13850741 15362987 2427268 1840225 427413 428284 16705422 17631496 23506963 23796169 X 77113 848961 X X 0 1 1 X 0 X 3962659 2715213 2146313 2726807 2964276 14515268 3962659 2715213 2146313 2726807 2964276 14515268 14515268 274836 285835 169084 139389 1043197 1912341 16427609 6494248 0.88360 0.93230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X EDUCATIONAL PROGRAMING 0 9723378 213957 331129 349248 9919216 9477028 494607 199037 447294 9723378 8858951 3198534 167701 2748158 9477028 0.87500 0.02500 0.10000 0 0 132700 132700 15910766 4630018 11280748 2364637 2100509 264128 11677576 INTEREST RATE SWAP 168399 168399 4514314 4437201 77113 711457 137504 848961 926074 5558071 711457 20394 311906 1043757 4514314 0 4514314 4631997 20394 174402 194796 4437201 0 4437201 PART III, LINE 1A: THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. 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 AND ARE RESTRICTED BY THE BOARD FOR THE MUSEUM'S COLLECTIONS. PART III, LINE 4: THE MUSEUM COLLECTS, PRESERVES AND PRESENTS AMERICAN AND NATIVE AMERICAN ART. ITS INNOVATIVE EXHIBITIONS AND EDUCATIONAL PROGRAMS INTERPRET AND EXPLORE RELATIONSHIPS BETWEEN THESE TWO EVOLVING ARTISTIC TRADITIONS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MUSEUMS ENDOWMENT CONSISTS OF INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE MUSEUM IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISION OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND IS ALSO EXEMPT FROM STATE INCOME TAXES UNDER CHAPTER 104 OF TITLE 54, REVISED STATUTES OF THE NEW JERSEY LAW. THE MUSEUM HAS ALSO BEEN CLASSIFIED AS ENTITIES THAT ARE NOT PRIVATE FOUNDATIONS WITHIN THE MEANING OF SECTION 509(A) AND QUALIFY FOR DEDUCTIBLE CONTRIBUTIONS AS PROVIDED IN SECTION 170(B)(1)(A)(VI). ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES HAS BEEN PRESENTED IN THE ACCOMPANYING FINANCIAL STATEMENTS. EFFECTIVE DECEMBER 15, 2009, THE MUSEUM ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION AS THEY RELATE TO THOSE TAX POSITIONS. THE ADOPTION OF THIS CHANGE IN ACCOUNTING PRINCIPLE HAD NO CUMULATIVE EFFECT ON AMOUNTS RECORDED IN THE FINANCIAL STATEMENTS FOR YEARS ENDED JUNE 30, 2011 AND 2010. THE MUSEUM DOES NOT EXPECT A SIGNIFICANT INCREASE OR DECREASE TO THE TOTAL AMOUNTS OF UNRECOGNIZED TAX POSITIONS DURING THE FISCAL YEAR ENDED JUNE 30, 2011. HOWEVER, THE MUSEUM IS SUBJECT TO REGULAR AUDIT BY TAX AUTHORITIES. THE MUSEUM BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON ITS TAX RETURNS. NONETHELESS, THE AMOUNTS ULTIMATELY PAID, IF ANY, UPON RESOLUTION OF THE ISSUES RAISED BY THE TAXING AUTHORITIES MAY DIFFER MATERIALLY FROM THE AMOUNTS ACCRUED EACH YEAR. MANAGEMENT BELIEVES ITS NONPROFIT STATUS WOULD BE UPHELD UPON EXAMINATION. AS REQUIRED BY LAW, THE MUSEUM FILES INFORMATIONAL RETURNS WITH BOTH THE UNITED STATES FEDERAL AND STATE OF NEW JERSEY JURISDICTIONS ON AN ANNUAL BASIS- FORM 990 WITH THE INTERNAL REVENUE SERVICE, AND FORM CRI-300R WITH THE STATE. THE MUSEUM IS SUBJECT TO EXAMINATIONS AT ANY TIME WITHIN THREE YEARS FROM THE LATEST FILING DATE FOR FEDERAL AND FOUR YEARS FROM THE LATEST FILING DATE FOR NEW JERSEY. PART XI, LINE 8 - OTHER ADJUSTMENTS: GAIN ON INTEREST RATE SWAP PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 179,699. COST OF GOOD SOLD 60,086. RENTAL EXPENSE 72,121. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 179,699. COST OF GOOD SOLD 60,086. RENTAL EXPENSE 72,121. GAIN ON INTEREST RATE SWAP -137,504. GALA DINNER 286375 242450 43925 122754 GALA LUNCHEON 62650 42970 19680 39244 2 42875 33775 9100 17701 391900 319195 72705 179699 179699 -106994 0 SCHOLARSHIPS 16 7260 BOOK FORM 990, PART VI, SECTION A, LINE 4 THE MAXIMUM NUMBER OF VOTING MEMBERS WAS INCREASED FROM 40 TO 45. FORM 990, PART VI, SECTION B, LINE 11 THE MUSEUM'S CFO WORKS CLOSELY WITH AN EXTERNAL ACCOUNTING FIRM TO PREPARE ITS IRS FORM 990. A DRAFT OF THE 990 IS THEN SHARED AND REVIEWED WITH THE MUSEUM'S DIRECTOR, PRESIDENT, AND TREASURER AND MEMBERS OF ITS FINANCE COMMITTEE. THE CFO AND THESE PARTIES PRESENT A COPY OF THE 990 TO THE MEMBERS OF THE EXECUTIVE, FINANCE AND AUDIT COMMITTEES, WITH A REASONABLE AMOUNT OF TIME FOR THEIR REVIEW. COMMENTS ARE THEN GROUPED, SUMMARIZED, AND PROVIDED THROUGH MANAGEMENT TO THE EXTERNAL ACCOUNTING FIRM. A REFINED DRAFT IS DISTRIBUTED TO THE ENTIRE BOARD OF TRUSTEES FOR THEIR INFORMATION AND COMMENT. ANY APPLICABLE QUESTIONS ARE ADDRESSED, AND THE RETURN IS FINALIZED AND APPROVED FOR FILING WITH THE IRS. THE MUSEUM BELIEVES THIS PROCESS ENSURES THE COMPLETE AND ACCURATE REPORTING OF INFORMATION ON THE ANNUAL RETURN. FORM 990, PART VI, SECTION B, LINE 12C EVERY FISCAL YEAR BOARD OFFICERS, DIRECTORS AND TRUSTEES ARE REQUIRED TO READ OUR CONFLICT OF INTEREST POLICY, AND TO FILL OUT A QUESTIONNAIRE WHICH DISCLOSES ANY POTENTIAL CONFLICTS. THE MUSEUM ALSO REQUIRES KEY EMPLOYEES TO FILL OUT THE SAME FORM. FORM 990, PART VI, SECTION B, LINE 15 A SPECIAL AD-HOC COMMITTEE OF THE BOARD WAS CREATED, TO REVIEW SALARY COMPARABILITY DATA, AND MAKE A RECOMMENDATION TO THE EXECUTIVE COMMITTEE AND FULL BOARD REGARDING AN APPROPRIATE CANDIDATE AND COMPENSATION STRUCTURE. THE COMPENSATION AMOUNTS FOR OTHER KEY EMPLOYEES ARE REVIEWED BY THE EXECUTIVE COMMITTEE AT THE TIME THE POSITION IS FILLED. DURING THE ANNUAL BUDGETING PROCESS THE BOARD TREASURER, MUSEUM DIRECTOR AND CFO REVIEW THE SALARY STRUCTURE OF ALL POSITIONS WITHIN THE MUSEUM. FORM 990, PART VI, SECTION C, LINE 19 THE MONTCLAIR ART MUSEUM, MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG. IN ADDITION FORMS 990 AND 1023 AS WELL AS THE FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON WRITTEN REQUEST AT THE ORGANIZATIONS OFFICE AT 3 SOUTH MOUNTAIN AVE, MONTCLAIR, NJ 07042. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 711,457. GAIN ON INTEREST RATE SWAP 137,504. TOTAL TO FORM 990, PART XI, LINE 5: 848,961. FORM 990, PART XII, LINE 2C NO CHANGE FROM THE PRIOR YEAR.