2012-03-27T18:01:59-05:00 2011-06-30 SINGERLEWAK LLP 10960 WILSHIRE BLVD STE 700 LOS ANGELES CA 900243783 990 2010-07-01 952264067 MUSEUM ASSOCIATES MUSE 3238576142 5905 WILSHIRE BLVD LOS ANGELES CA 90036 ANN ROWLAND 3238576142 2012-03-21 1 LIOR TEMKIN 3104773924 2012-03-21 2010 2016-02-24 21:20:13Z LOS ANGELES COUNTY MUSEUM OF ART (LA ANN ROWLAND 5905 WILSHIRE BLVD LOS ANGELES CA 90036 80144703 0 X WWW.LACMA.ORG X 1938 CA SEE SCHEDULE OTO SERVE THE PUBLIC THROUGH THE COLLECTION, CONSERVATION, EXHIBITION AND INTERPRETATION OF SIGNIFICANT WORKS OF ART FROM A BROAD RANGE OF CULTURES AND HISTORICAL PERIODS, AND THROUGH TRANSLATION OF THESE COLLECTIONS INTO MEANINGFUL EDUCATIONAL, AESTHETIC, INTELLECTUAL AND CULTURAL EXPERIENCES FOR THE WIDEST ARRAY OF AUDIENCES.THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 100,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. 52 51 401 527 453460 0 40952868 37434663 32774453 33563803 3325723 2949245 1768219 2228384 78821263 76176095 0 9500 0 0 23496498 24098004 0 0 3369993 57880532 78806663 81377030 102914167 -2555767 -26738072 741509602 731534508 451336207 431343170 290173395 300191338 X THIS FISCAL YEAR, THE MUSEUM MOUNTED 39 EXHIBITIONS AND PERMANENT COLLECTION INSTALLATIONS, ACQUIRED 5,125 NEW WORKS OF ART, PROVIDED PROGRAMS FOR 76,063 SCHOOL CHILDREN, AND MADE CONTINUED PROGRESS ON ENHANCING THE PHYSICAL CAMPUS, INCLUDING COMPLETION OF CONSTRUCTION OF THE NEW RAY'S AND STARK BAR RESTAURANT AND OTHER IMPROVEMENTS TO THE BP GRAND ENTRANCE TO ENHANCE THE MUSEUM'S ROLE AS A PUBLIC SQUARE FOR LOS ANGELES. TOTAL ATTENDANCE AT THE MUSEUM WAS 950,015. 0 0 31252668 756373 EXHIBITION, CURATORIAL, CONSERVATION & ART PROGRAMSLACMA PRESENTED 16 SPECIAL EXHIBITIONS AND 23 INSTALLATIONS IN FISCAL 2010-2011, FEATURING ARTWORKS FROM ITS OWN COLLECTION AND FROM LENDERS AROUND THE WORLD. PUBLIC PROGRAMS, FILMS, AND CONCERTS ARE DEVELOPED IN COORDINATION WITH SPECIAL EXHIBITIONS. MANY WORKS FROM THE MUSEUM'S COLLECTION OF OVER 100,000 OBJECTS ARE TREATED BY CONSERVATORS, WHILE THE MUSEUM'S RESEARCH LIBRARY AND SCHOLARLY PUBLICATIONS PROVIDE REFERENCE SUPPORT TO MUSEUM STAFF AND OUTSIDE SCHOLARS. ALL OF THESE ACTIVITIES SERVE TO MEET THE GOALS OF CONSERVATION, EXHIBITION AND INTERPRETATION OF THE ART INTO MEANINGFUL AESTHETIC, INTELLECTUAL, AND CULTURAL EXPERIENCES. 24276281 0 FACILITY ENHANCEMENTDURING THE FISCAL YEAR 2010-2011, WORK INCLUDED FINAL TOUCHES TO THE LINDA AND STEWART RESNICK EXHIBITION PAVILION, CONSTRUCTION OF RAY'S AND THE STARK BAR AND PRELIMINARY WORK ON MICHAEL HEIZER'S "LEVITATED MASS." 18302074 490896 ART ACQUISITIONSWORKS OF ART IN ALL MEDIA, FROM EVERY HISTORICAL PERIOD, AND FROM EVERY CORNER OF THE GLOBE ARE PURCHASED TO ENHANCE THE MUSEUM'S PERMANENT COLLECTION. SUCH ADDITIONS CONTRIBUTE TO THE MUSEUM'S GOAL OF COLLECTING SIGNIFICANT WORKS OF ART FROM A BROAD RANGE OF CULTURES AND ERAS. EXPENSES REFLECT FUNDS PAID BY THE MUSEUM FOR THE ACQUISITION OF ARTWORK DURING THE YEAR, BUT DO NOT REFLECT THE VALUE OF GIFTS OF ART. REVENUES REPRESENT THE PROCEEDS OF DEACCESSIONS FROM THE PERMANENT COLLECTION RECEIVED DURING THE FISCAL YEAR, WHICH, IN ACCORDANCE WITH MUSEUM POLICY, ARE RESTRICTED FOR THE FUTURE ACQUISITION OF ARTWORKS. 16897937 33506310 IT IS A MUSEUM GOAL TO CONTINUOUSLY EXPAND AND SERVE AUDIENCES OF ALL AGES, ETHNICITIES AND SOCIO-ECONOMIC BACKGROUNDS BOTH ON-SITE AND OFF-SITE BY CREATING WELCOMING AND USER-FRIENDLY ENVIRONMENTS AND PROGRAMS. THIS IS ACCOMPLISHED THROUGH A VARIETY OF MEANS, INCLUDING THE MUSEUM MAGAZINE, MUSEUM WEBSITE, SPECIAL EVENTS, PROMOTIONAL CAMPAIGNS, AND ON-SITE STAFF PROVIDING SERVICE TO THE PUBLIC. ANOTHER MUSEUM GOAL IS TO EXTEND THE MUSEUM EXPERIENCE IN THE FULLEST POSSIBLE WAY TO THE WIDEST POSSIBLE AUDIENCE, BOTH PRESENT AND FUTURE. TO ACHIEVE THIS GOAL, THE MUSEUM OFFERS MANY EDUCATIONAL OUTREACH PROGRAMS, SUCH AS PROGRAMS IN LOCAL SCHOOLS AND ON-SITE FOR CHILDREN AND TEENS AS WELL AS CLASSES AND OTHER PROGRAMS AND INTERPRETIVE MATERIALS FOR COLLEGE STUDENTS AND ADULTS. 16897937 33506310 90728960 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 1 412 0 1 401 1 1 1 0 0 0 0 1 1 0 0 0 0 X 52 51 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X ANN ROWLAND CHIEF FINANCIAL OFFICE 3238576142 5906 WILSHIRE BLVD LOS ANGELES CA 90036 ANDREW GORDON 0.50 X X 0 0 0 TERRY SEMEL 0.50 X X 0 0 0 WILLIAM H AHMANSON 0.50 X X 0 0 0 ROBERT KOTICK 0.50 X X 0 0 0 LYNDA RESNICK 0.50 X X 0 0 0 WALLIS ANNENBERG 0.50 X 0 0 0 FRANK E BAXTER 0.50 X 0 0 0 WILLOW BAY 0.50 X 0 0 0 COLLEEN BELL 0.50 X 0 0 0 WILLIAM J BELL JR 0.50 X 0 0 0 REBECKA BELLDEGRUN 0.50 X 0 0 0 NICOLAS BERGGRUEN 0.50 X 0 0 0 DAVID C BOHNETT 0.50 X 0 0 0 SUZANNE DEAL BOOTH 0.50 X 0 0 0 BRIGITTE BREN 0.50 X 0 0 0 GABRIEL BRENER 0.50 X 0 0 0 EVA CHOW 0.50 X 0 0 0 ANN COLGIN 0.50 X 0 0 0 KELLY DAY 0.50 X 0 0 0 JOSHUA S FRIEDMAN 0.50 X 0 0 0 CAMILLA CHANDLER FROST 0.50 X 0 0 0 GABRIELA GARZA 0.50 X 0 0 0 TOM GORES 0.50 X 0 0 0 BRIAN GRAZER 0.50 X 0 0 0 GHADA IRANI 0.50 X 0 0 0 VICTORIA JACKSON 0.50 X 0 0 0 SUZANNE KAYNE 0.50 X 0 0 0 ROBERT LOOKER 0.50 X 0 0 0 MICHAEL LYNTON 0.50 X 0 0 0 ROBERT F MAGUIRE III 0.50 X 0 0 0 JAMIE MCCOURT 0.50 X 0 0 0 RICHARD MERKIN MD 0.50 X 0 0 0 WENDY STARK MORRISSEY 0.50 X 0 0 0 JANE NATHANSON 0.50 X 0 0 0 PETER NORTON 0.50 X 0 0 0 GEOFFREY PALMER 0.50 X 0 0 0 VIVECA PAULIN-FERRELL 0.50 X 0 0 0 ANTHONY N PRITZKER 0.50 X 0 0 0 JANET DREISEN REPPAPORT 0.50 X 0 0 0 TONY RESSLER 0.50 X 0 0 0 EDWARD P ROSKI JR 0.50 X 0 0 0 STEVEN F ROTH 0.50 X 0 0 0 CAROLE BAYER SAGER 0.50 X 0 0 0 FLORENCE SLOAN 0.50 X 0 0 0 ERIC SMIDT 0.50 X 0 0 0 MICHAEL G SMOOKE 0.50 X 0 0 0 BARBRA STREISAND 0.50 X 0 0 0 SANDRA W TERNER 0.50 X 0 0 0 STEVE TISCH 0.50 X 0 0 0 CASEY WASSERMAN 0.50 X 0 0 0 ELAINE WYNN 0.50 X 0 0 0 DASHA ZHUKOVA 0.50 X 0 0 0 MICHAEL GOVAN 40.00 X 996215 151896 201298 MELODY KANSCHAT 40.00 X 375000 0 187312 FRED GOLDSTEIN 40.00 X 268724 0 45310 ANN ROWLAND 40.00 X 51516 135814 75997 THERESA MORELLO 40.00 X 212813 0 36507 NANCY THOMAS 40.00 X 89333 113376 61623 MARK MITCHELL 40.00 X 175532 0 26022 PETER BODELL 40.00 X 183187 0 39498 JOHN BOWSHER 40.00 X 162971 0 25126 MELISSA BOMES 40.00 X 157911 0 13068 ALVARO VASQUEZ 40.00 X 151783 0 24410 MARK GILBERG 40.00 X 151968 0 37039 2976953 401086 773210 25 0 1 0 MATT CONSTRUCTION 9814 NORWALK BLVD STE 100 SANTA FE SPRINGS CA 90670 CONSTRUCTION 20533819 ALLIED BARTON SECURITY SERVICES EIGHT TOWER BRIDGE 161 WASHINGTON CONSHOHOCKEN PA 19428 SECURITY AND PROTECTIVE SERVICES 4613962 J BEN BOURGOISE PRODUCTIONS 512 N LARCHMONT BLVD LOS ANGELES CA 90004 EVENT PRODUCTION 2885486 PATINA RESTAURANT GROUP LLC 1150 S OLIVE ST SUITE TG25 LOS ANGELES CA 90015 CATERING 1370137 AMERICAN LANDSCAPE INC 7013 OWENSMOUTH AVENUE CANOGA PARK CA 91304 INSTALLATION & MAINTENANCE 1026551 46 7556361 900523 5484127 23493652 955653 37434663 COUNTY OPERATING CONTR 900099 27683000 27683000 ADMISSIONS 900099 3180742 3180742 EXHIBITION REVENUE 900099 756373 756373 PARKING REVENUE 900099 543784 543784 COLLECTION ITEMS SOLD 900099 490896 490896 909008 909008 33563803 1861893 9728 1852165 457939 457939 55907 55907 629413 629413 629413 629413 2747597 900523 2747597 0 2410788 1221011 1189777 1189777 ART RENTAL & SALES GAL 532000 443732 443732 FACILITY USE FEE 900099 250530 250530 CAFE REVENUE 900099 175087 175087 113351 113351 982700 76176095 34753580 453460 3534392 9500 9500 2664926 1206368 729007 729551 17042576 12983731 2781300 1277545 1780448 1245244 438255 96949 1258672 836981 332140 89551 1351382 954585 295068 101729 129894 25430 102964 1500 116896 1460 115436 673720 673720 11132084 10004571 1009412 118101 1034282 1030281 4001 5071261 3950592 670033 450636 2312386 1566390 574318 171678 68968 68968 3437821 2968271 437324 32226 1289079 1135845 130509 22725 16406530 16406530 7507316 7435743 71573 1712073 1699549 7845 4679 ART ACQUISITION 18302074 18302074 0 0 ART INSTAL. & PUB. MAT. 3648314 3648314 0 0 REMOTE ART OBJECTS 1879000 1879000 0 0 HOSPITALITY 1578222 1272421 45159 260642 EQUIPMENT PURCHASE 496203 413384 81970 849 2010540 1683728 315180 11632 102914167 90728960 8815214 3369993 28602532 15288830 113835320 95049771 1832699 2513997 1205376 1614031 1356680 581395 348875942 28227115 314168921 320648827 199544622 231001487 80963452 64836170 741509602 731534508 11683001 5827674 1724306 2084772 383000000 383000000 7500000 3000000 47428900 37430724 451336207 431343170 X 116281027 137177031 151913103 141026788 21979265 21987519 290173395 300191338 741509602 731534508 X -26738072 36756015 X X 0 1 1 X 0 X 94522304 135804657 42565858 40952868 37436219 351281906 94522304 135804657 42565858 40952868 37436219 351281906 37364025 313917881 5952094 9925791 4696222 3381162 2995424 26950693 155078 54642 34054 -13087 230687 928064 686379 339786 291967 538968 2785164 381248450 135788708 0.82340 0.79510 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: CAFETERIA COMMISSIONED PRINTS DWP ENERGY REBATE FACILITY USE FEE INSURANCE CLAIM REV. OTHER REVENUE PATRON PARKING CAFE REVENUE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 5217 5217 102908950 102914167 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 30303 936875 6911 5217 979306 250000 250000 250000 250000 1000000 1500000 PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE C, PART II-A, LINE 1B THE MUSEUM'S GENERAL COUNSEL AND THE MUSEUM'S PRESIDENT PROVIDED COMMENTS ON LEGISLATION PENDING IN FEDERAL AND STATE LEGISLATIVE BODIES THAT WOULD DIRECTLY AFFECT THE MUSEUM. X X X X X PUBLIC EDUCATION 0 106777939 8254 17012210 5923058 117875345 99571155 17948 14057814 6868978 106777939 148060293 37200 -41522387 7003951 99571155 0.48700 0.18700 0.32700 0 0 36143953 36143953 303277925 20063977 283213948 9454064 8163138 1290926 320648827 REVENUE BOND TRUST ACCOUNTS 48596038 CAPITALIZED REVENUE BOND ISSUANCE COSTS 16240132 64836170 INTEREST RATE SWAPS 35954259 SPLIT-INTEREST AGREEMENT LIABILITIES 931775 CAPITAL LEASE OBLIGATION 544690 37430724 76176095 102914167 -26738072 27873751 8882264 36756015 10017943 117188502 27873751 8208540 36082291 81106211 -4930116 -4930116 76176095 89359380 -13554787 -13554787 102914167 0 102914167 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, ART OBJECTS PURCHASED BY OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR IN TEMPORARILY RESTRICTED NET ASSETS IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS; CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. PART III, LINE 4: THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 100,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE EARNINGS OF THE MUSEUM'S ENDOWMENT FUNDS SUPPORT EDUCATION AND ART PROGRAMS, AND THE MISSION OF THE MUSEUM. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC NO. 740, "UNCERTAINTY IN INCOME TAXES" ("ASC 740"), THE MUSEUM RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE COMBINED FINANCIAL STATEMENT IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE MUSEUM HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. THE MUSEUM RECOGNIZES POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE. DURING THE YEAR ENDED JUNE 30, 2011, THE MUSEUM PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE COMBINED FINANCIAL STATEMENT OR WHICH MAY HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. JURISDICTION OPEN TAX YEARS FEDERAL 2007 - 2011 STATE 2006 - 2011 PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP 8,882,264. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP 8,882,264. INVESTMENT MANAGEMENT FEES -673,724. PART XII, LINE 4B - OTHER ADJUSTMENTS: COGS -1,221,011. COLLECTION ITEMS SOLD 490,895. DOUBTFUL PLEDGES -4,200,000. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COGS 1,221,011. ART ACCESSIONS -18,302,074. INVESTMENT MANAGEMENT FEES -673,724. DOUBTFUL PLEDGES 4,200,000. RESNICK PAVILION 3536335 871350 2664985 2664985 DECORATIVE ARTS COUNCIL 61500 61500 63056 5 50285 29173 21112 19556 3648120 900523 2747597 2747597 2747597 0 1 MOVE LA CO COMMUNITY PARTNERS 634 SOUTH SPRING STREET 818 LOS ANGELES CA 90014 954302067 501(C)(3) 6500 CASH GRANTS TO PROMOTE EXTENSION OF A SUBWAY LINE TO THE MUSEUM. 1 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE MUSEUM MONITORS THE USE OF GRANT FUNDS ON A CASE-BY-CASE BASIS BUT DOES NOT HAVE OFFICIAL PROCEDURES FOR SUCH MONITORING. GRANT MAKING IS NOT A PRIORITY OF THE MUSEUM. GRANTS ARE MADE ON A CASE-BY-CASE BASIS AND ONLY IF THEY SUPPORT LACMA'S MISSION. X 1 1 X X X X X X 0 1 0 0 0 0 0 0 1 1 MICHAEL GOVAN 676215 151896 0 0 320000 0 125350 0 0 75948 1121565 227844 0 0 MELODY KANSCHAT 375000 0 0 0 0 0 182748 0 4564 0 562312 0 0 0 FRED GOLDSTEIN 268724 0 0 0 0 0 40746 0 4564 0 314034 0 0 0 ANN ROWLAND 51516 135814 0 0 0 0 9448 0 0 66549 60964 202363 0 0 THERESA MORELLO 212813 0 0 0 0 0 26109 0 10398 0 249320 0 0 0 NANCY THOMAS 89333 113376 0 0 0 0 18135 0 0 43488 107468 156864 0 0 MARK MITCHELL 175532 0 0 0 0 0 21447 0 4575 0 201554 0 0 0 PETER BODELL 183187 0 0 0 0 0 29076 0 10422 0 222685 0 0 0 JOHN BOWSHER 162971 0 0 0 0 0 20551 0 4575 0 188097 0 0 0 MELISSA BOMES 157911 0 0 0 0 0 13068 0 0 0 170979 0 0 0 ALVARO VASQUEZ 151783 0 0 0 0 0 14012 0 10398 0 176193 0 0 0 MARK GILBERG 151968 0 0 0 0 0 23055 0 13984 0 189007 0 0 0 PART I, LINE 4B MELODY KANSCHAT, PRESIDENT, PARTICIPATED IN A 457F PLAN PURSUANT TO HER CONTRACTUAL DEFERRED COMPENSATION. THIS AMOUNT IS ALSO REFLECTED IN COLUMN (C) FOR SCHEDULE J PART II. AMOUNT: $150,000 SUPPLEMENTAL INFORMATION PART III PART I, LINES 8 & 9: IN JULY 2010, THE DIRECTOR RECEIVED DEFERRED COMPENSATION ACCRUED AND PAYABLE UNDER HIS EMPLOYMENT AGREEMENT WITH THE ORGANIZATION, ENTERED INTO APRIL 1, 2006, WHICH WAS SUBJECT TO THE INITIAL CONTRACT EXCEPTION. EFFECTIVE JULY 1, 2010, THE ORGANIZATION ENTERED INTO A NEW EMPLOYMENT AGREEMENT WITH THE DIRECTOR FOR A TERM ENDING JUNE 30, 2016. CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YO3 2008-09-10 100000000 CONSTRUCTION 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YE1 2008-09-10 100000000 CONSTRUCTION 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YF8 2008-09-10 95000000 CONSTRUCTION 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YG6 2008-09-10 60000000 CONSTRUCTION 0 0 0 100000000 3980269 851861 82479610 12688261 2010 0 0 0 1 100000000 3980269 851861 82479610 12688261 2010 0 0 0 1 95000000 3781256 809268 78355629 12053848 2010 0 0 0 1 60000000 2388162 511116 49487766 7612956 2010 0 0 0 1 0 0 1 0 1 1 0 0 1 0 1 1 0 0 1 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 130795YH4 2008-09-10 28000000 CONSTRUCTION 0 0 0 28000000 1114475 238521 23094291 3552713 2010 0 0 0 1 0 0 1 0 1 1 0 1 0 0 0 0 JOSHUA S FRIEDMAN TRUSTEE MR. FRIEDMAN IS A TRUSTEE OF MUSEUM ASSOCIATES. 371725 INV. MGMT FEESMR. FRIEDMAN IS ALSO A FOUNDER, CO-CHAIR AND CO-CHIEF EXECUTIVE OFFICER FOR CANYON CAPITAL ADVISORS LLC (CCA, LLC), AN INVESTMENT FIRM WHICH IS PAID FOR MANAGEMENT SERVICES FOR INVESTING FUNDS OF THE ORGANIZATION, WHICH ARE BASED IN PART, ON REVENUES FROM THE PERFORMANCE OF THESE INVESTMENTS. MUSEUM ASSOCIATES INVESTED WITH CCA, LLC IN 2005, FOUR YEARS PRIOR TO MR. FRIEDMAN JOINING THE BOARD. MUSEUM ASSOCIATES HAS NOT INVESTED ANY ADDITIONAL FUNDS IN CCA, LLC SINCE THE DATE OF THE INITIAL INVESTMENT. 1 X 92 SEE PART II X 1 X 14 955653 FMV OF AVERAGE STOCK VAL 25 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE MUSEUM USES BROKERS TO SELL SECURITIES AND USES AUCTION HOUSES AND ART DEALERS TO SELL WORKS ON CONSIGNMENT. NON REPORTING OF REVENUE: PART I, LINE 33: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, ART OBJECTS PURCHASED BY OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR IN TEMPORARILY RESTRICTED NET ASSETS IF THE NET ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS; CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 2 ON MAY 26, 2006, ROBERT KOTICK, A LACMA TRUSTEE, LOANED MICHAEL GOVAN, LACMA'S CEO AND DIRECTOR, APPROXIMATELY $180,000. THE LOAN WAS REPAID ON AUGUST 18, 2010. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY OUTSIDE TAX ACCOUNTANTS AND REVIEWED AND APPROVED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. ONCE APPROVED BY THE AUDIT COMMITTEE, THE AUDIT COMMITTEE REPORTS TO THE FULL BOARD OF TRUSTEES ON ITS REVIEW AND APPROVAL AND THE RETURN IS MADE AVAILABLE TO THE REST OF THE BOARD BEFORE IT IS ELECTRONICALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIRMAN OF THE AUDIT COMMITTEE SENDS AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM TO EACH TRUSTEE, AND, WITH THE OFFICE OF GENERAL COUNSEL, MONITORS RESPONSES AND FOLLOWS UP WITH TRUSTEES TO ACHIEVE AS HIGH A RESPONSE RATE AS POSSIBLE. THE OFFICE OF GENERAL COUNSEL REVIEWS THESE FORMS AND REPORTS SIGNIFICANT CONFLICTS TO THE AUDIT COMMITTEE, WHICH REVIEWS ANY SPECIFIC TRANSACTIONS THAT MIGHT INVOLVE A CONFLICT OF INTEREST WITH A TRUSTEE. THE DIRECTOR OF THE MUSEUM SENDS KEY EMPLOYEES AN ANNUAL CONFLICT OF INTEREST FORM, WHICH KEY EMPLOYEES ARE REQUIRED TO COMPLETE AND RETURN TO THE GENERAL COUNSEL, WHO REVIEWS SUCH FORMS FOR POSSIBLE CONFLICTS AND MONITORS COMPLIANCE WITH THE MUSEUM'S ETHICS POLICY INCLUDING THE CONFLICT OF INTEREST POLICIES CONTAINED IN THE ETHICS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO AND DIRECTOR OF LACMA IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, WITHIN THE PARAMETERS ESTABLISHED BY THE EMPLOYMENT AGREEMENT ENTERED INTO BY LACMA AND THE CEO AND DIRECTOR IN 2010. THE DIRECTOR AND CEO DETERMINES THE COMPENSATION OF THE PRESIDENT AND COO OF LACMA, ALSO SUBJECT TO THE THREE YEAR EMPLOYMENT AGREEMENT BETWEEN LACMA AND THE PRESIDENT, EFFECTIVE JANUARY 1, 2008. THE DIRECTOR AND THE PRESIDENT DETERMINE THE COMPENSATION OF EACH OF THE OTHER OFFICERS AND KEY EMPLOYEES. IN EACH CASE, THE COMPENSATION IS BASED ON (1) THE EMPLOYEE'S CONTRACT, IN THE CASE OF THE CEO AND THE PRESIDENT; (2) THE EMPLOYEE'S PERFORMANCE DURING THE PRIOR YEAR; (3) THE CONTEXT OF LACMA'S OVERALL OPERATING BUDGET; AND (4) COMPARABILITY DATA FOR PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. SUCH COMPARABILITY DATA IS GENERALLY PREPARED BY SENIOR MANAGEMENT, INCLUDING THE CHIEF FINANCIAL OFFICER, THE PRESIDENT AND THE DIRECTOR OF HUMAN RESOURCES AND INCLUDES A REVIEW OF PUBLICLY FILED FORMS 990 OF OTHER INSTITUTIONS. IN CONNECTION WITH THE EXECUTION OF THE DIRECTOR'S CONTRACT EFFECTIVE AS OF JULY 1, 2010, THE MUSEUM ALSO RETAINED AN INDEPENDENT COMPENSATION CONSULTANT TO OBTAIN, ANALYZE AND ADVISE THE EXECUTIVE COMMITTEE OF THE BOARD WITH RESPECT TO COMPARABILITY DATA. THE PRESIDENT AND COO'S CONTRACT EXPIRED JANUARY 1, 2011 AND SHE RETIRED FROM HER POSITION AT LACMA AS OF MAY 4, 2011. TO THAT EXTENT, THE PROCESS HAS CHANGED, WITH THE DIRECTOR AND CEO ASSUMING RESPONSIBILITY FOR OFFICERS AND KEY EMPLOYEES. ONCE COMPENSATION OF THE CEO AND THE PRESIDENT IS APPROVED BY THE EXECUTIVE COMMITTEE BASED ON THE INFORMATION AND COMPARABILITY DATA DESCRIBED ABOVE, THE EXECUTIVE COMMITTEE'S RECOMMENDATION, AS WELL AS THE PROPOSED COMPENSATION FOR ALL OTHER OFFICERS AND KEY EMPLOYEES, THE UNDERLYING DATA, INCLUDING THE PERFORMANCE REVIEWS AND COMPARABILITY ANALYSES, ARE PRESENTED TO THE AUDIT COMMITTEE TO DETERMINE WHETHER, IN THE AUDIT COMMITTEE'S JUDGEMENT, SUCH PROPOSED COMPENSATION IS APPROPRIATE, FAIR AND REASONABLE TO LACMA. THE FINAL RECOMMENDATION OF THE EXECUTIVE COMMITTEE AND AUDIT COMMITTEE IS REPORTED TO THE FULL BOARD OF TRUSTEES AT ITS NEXT REGULARLY SCHEDULED MEETING AND SUBMITTED TO THE FULL BOARD FOR APPROVAL. ALL MEMBERS OF THE AUDIT COMMITTEE ARE INDEPENDENT TRUSTEES OF LACMA. NOTE THAT LACMA DOES NOT HAVE A SEPARATE "COMPENSATION COMMITTEE." FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND ON THE MUSEUM'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 27,873,751. UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP 8,882,264. TOTAL TO FORM 990, PART XI, LINE 5: 36,756,015. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT. FORM 990, PART I, LINE 17 OTHER EXPENSES ARE SUBSTANTIALLY HIGHER FOR THE YEAR ENDED JUNE 30, 2011 THAN FOR THE PRIOR YEAR PRINCIPALLY DUE TO HIGHER BOND INTEREST EXPENSE (CAPITALIZED INTEREST PHASE COMPLETED); HIGHER OPERATING, PROGRAM, AND DEPRECIATION COSTS; PLUS A ONE-TIME OPENING GALA FOR THE NEW RESNICK EXHIBITION PAVILION; AND HIGHER SPENDING TO ACQUIRE ART. FORM 990, PART I, LINE 19 WHILE REVENUES LESS EXPENSES FOR LINE 19 IS REFLECTED AS A DEFICIT OF $26,738,072, THE AUDITED FINANCIAL STATEMENTS REFLECT A SURPLUS OF $10,017,943. AS EXPLAINED IN THE RECONCILIATION ON SCHEDULE D PART XI, FORM 990 PART I DOES NOT INCLUDE EITHER THE $27,873,751 OF UNREALIZED INVESTMENT GAINS OR THE UNREALIZED GAIN ON SWAPS OF $8,882,264 THAT WOULD RESULT IN A $10,017,943 SURPLUS FOR YEAR ENED JUNE 30, 2011. PROCEEDS FROM SALE OF STOCKS FORM 990, PART VIII, LINE 7A: LACMA HAS INVESTMENT ACCOUNTS AND HEDGE FUNDS WITH MANY STOCK TRANSACTIONS. DUE TO THE LARGE QUANTITY OF STOCK TRANSACTIONS, THIS INFORMATION IS NOT INCLUDED IN THE RETURN, BUT IS AVAILABLE UPON REQUEST. FORM 990, PART X, LINE 25: THE DECREASE IN OTHER LIABILITIES IS PRINCIPALLY TIED TO AN UNREALIZED GAIN IN THE VALUE OF AN INTEREST RATE SWAP. THIS SWAP WILL SELF LIQUIDATE OVER THE DURATION OF MUSEUM DEBT AND THEREFORE DOES NOT REPRESENT AN IMMEDIATE NON-DISCRETIONARY CLAIM ON MUSEUM RESOURCES. FOUNDATION FOR THE ADVANCEMENT OF MESOAMERICAN STUDIES INC 5905 WILSHIRE BLVD LOS ANGELES CA 90036 593195520 TO FOSTER INCREASED UNDERSTANDING OF ANCIENT MESOAMERICAN CULTURES. FL 501(C)(3) PF MUSEUM ASSOCIATES 0 CRT 1 5905 WILSHIRE BLVD LOS ANGELES CA 90036 TRUST CA CO GEORGE HORI TRUSTEE T 148533 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 FOUNDATION FOR THE ADVANCEMENT OF MESOAMERICAN STUDIES INC M 10 CASH VALUE FOUNDATION FOR THE ADVANCEMENT OF MESOAMERICAN STUDIES INC O 139065 CASH VALUE FORM 990, SCHEDULE R, PART V, LINE 2, COLUMN (A)(1): FOUNDATION FOR THE ADVANCEMENT OF MESOAMERICAN STUDIES, INC. AND THE MUSEUM SHARED A LEASED FACILITY IN FLORIDA FOR NOMINAL RENT.