2012-06-05T13:19:33-05:00 2012-01-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2011-02-01 010378420 Portland Museum of Art PORT 2077756148 7 Congress Square Portland ME 04101 Hans Underdahl 2077756148 2012-05-29 1 Barbara J McGuan CPA P00219457 2077752387 2012-05-29 2011 2016-02-24 21:20:13Z Mark HC Bessire 7 Congress Square Portland ME 04101 11016396 0 X www.portlandmuseum.org X 1882 ME Museum/Educational 36 36 100 210 -4848 0 6040330 4324229 551480 639761 -2609817 782013 -220293 20929 3761700 5766932 0 0 0 0 2523344 2848927 23353 11071 926445 2512938 2377451 5059635 5237449 -1297935 529483 45962821 45679888 531471 490346 45431350 45189542 The Portland Museum of Art strives to enrich the lives of people through acquisition, preservation, and interpretation of the visual arts and the Museum's architecturally significant buildings. 0 0 674837 272443 Educational Programs: Create outstanding educational programs and collection-based activities to inspire and enrich the lives of diverse audiences and serve as a vital cultural center for the city and region (40,000 participants in 2011). 2997932 367318 Exhibitions and Collections: Originate outstanding exhibitions from the Museum's permanent collection and through borrowed works of art. Present traveling exhibitions that support and extend the Museum's mission. Preserve, document, and interpret eighteen-thousand objects in the collection and five architectural landmarks (134,796 visitors in 2011). 103460 Collection Items Purchased: 22 works of art were purchased for the Museum's collections in 2011, providing new opportunities for visitors and the community to experience original work. 3776229 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 0 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 1 100 1 0 0 0 0 1 1 1 1 1 2 0 0 0 X 36 36 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 1 1 1 1 0 ME X Elena Murdock 2077756148 7 Congress Square Portland ME 04101 Charlton H Ames 3.00 X 0 0 0 Linda Baker 3.00 X 0 0 0 Rosalyne S Bernstein 3.00 X 0 0 0 Scott M Black 3.00 X 0 0 0 Selma Botman 3.00 X 0 0 0 Nathan Clark 3.00 X 0 0 0 Pamela S Davis 3.00 X 0 0 0 William H Davisson 3.00 X 0 0 0 Beth L De Tine 3.00 X 0 0 0 Martha E Dumont 3.00 X 0 0 0 Clifford M Ginn 3.00 X 0 0 0 Albert B Glickman 3.00 X 0 0 0 Walter B Goldfarb MD 3.00 X X 0 0 0 William D Hamill 3.00 X 0 0 0 James A Houle 3.00 X X 0 0 0 John F Isacke 3.00 X X 0 0 0 Jeffrey D Kane 3.00 X 0 0 0 Nancy K Kaye 3.00 X 0 0 0 Joan M Kelly 3.00 X 0 0 0 Harry W Konkel 3.00 X 0 0 0 Samuel A Ladd III 3.00 X 0 0 0 James L Moody Jr 3.00 X 0 0 0 John P Moore 3.00 X 0 0 0 Robert S Nanovic 3.00 X X 0 0 0 Leonard M Nelson 3.00 X 0 0 0 Kevin P O'Connell 3.00 X 0 0 0 Peggy L Osher 3.00 X 0 0 0 Leslie B Otten 3.00 X 0 0 0 Lawrence R Pugh 3.00 X 0 0 0 Hilary G Robbins 3.00 X 0 0 0 Christopher N Robinson 3.00 X X 0 0 0 Laurence H Rubinstein 3.00 X 0 0 0 William J Ryan Jr 3.00 X X 0 0 0 Earle G Shettleworth Jr 3.00 X 0 0 0 S Donald Sussman 3.00 X 0 0 0 Hans Underdahl 3.00 X X 0 0 0 John H Wallace 3.00 X 0 0 0 Anna H Wells 3.00 X X 0 0 0 William B Williams 3.00 X 0 0 0 Melanie Stewart Cutler 3.00 X 0 0 0 Carol Patterson 3.00 X 0 0 0 Mark HC Bessire 40.00 X 203048 0 8360 Thomas A Denenberg 40.00 X 127229 0 18638 Elena Murdock 40.00 X 114681 0 9436 444958 0 36434 3 0 1 0 Marc Truant and Associates Inc 32 Warren St Cambridge MA 02141 Building Contractor 669672 Mills Whitaker Architects LLC PO Box 750089 Arlington MA 02475 Architect Services 111533 2 536145 2775 3785309 1322473 4324229 Admissions 713990 367318 367318 Program Revenues 713990 272443 272443 639761 533108 -4848 537956 25334 37340 -12006 -12006 -12006 4902190 4653285 248905 248905 248905 176367 2775 89352 87015 87015 415407 469487 -54080 -54080 5766932 639761 -4848 807790 481392 209289 187540 84563 1903573 1353904 99015 450654 260225 180828 19863 59534 203737 142528 20527 40682 16158 1950 14208 26043 26043 11071 11071 101198 101198 63224 53730 7938 1556 186761 175642 11119 81122 51992 15756 13374 72838 36667 6833 29338 382250 367045 5620 9585 5406 3132 995 1279 21711 17794 1664 2253 317945 305716 4416 7813 85417 50000 35417 Exhibition & Collection 597932 597932 Fundraising 189416 189416 Education 126570 126570 Acquisition of Art 103460 103460 5237449 3776229 534775 926445 55853 10732 2697971 3654991 1200255 793886 81164 102875 54156 81430 171621 273425 25656267 12104642 13685943 13551625 24344534 21460994 802604 1175425 2868720 4574505 45962821 45679888 531471 490346 531471 490346 X 20442032 20495447 3536568 3065899 21452750 21628196 45431350 45189542 45962821 45679888 X 529483 -771291 X X 0 1 1 X 0 X 3157322 3957306 3452221 6040330 4324229 20931408 3157322 3957306 3452221 6040330 4324229 20931408 3611449 17319959 542973 546233 389239 483531 558442 2520418 -2211 -2211 23449615 6024872 0.73860 0.73740 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 26392816 615453 -90476 1692435 25225358 22593253 3035908 2510841 1747186 26392816 19122669 1390125 3935696 1855237 22593253 30462154 332825 -9360274 2312036 19122669 0.12730 0.85740 0.01530 0 0 6204386 6204386 18770846 11660396 7110450 681035 444246 236789 13551625 Art Collection 1 Preservation in Progress 3620633 Bequest Receivable, Net 513681 Beneficial interests in charitable gift annuities 440190 4574505 5766932 5237449 529483 -771291 -771291 -241808 4894443 -771291 -771291 5665734 101198 101198 5766932 5136251 0 5136251 101198 101198 5237449 Part III, Line 1a: The art collection and library of the Museum are reflected in the plant fund at a nominal value. The cost of a collection item is recorded as a decrease in net assets when purchased. The proceeds from the sale of a collection item are recorded as an increase in net assets when sold. The collection is managed according to a policy which adheres to the standards of the American Association of Museums. The policy delineates responsibilities in such matters as Museum ethics, acquisitions, loans, care of collections, and deaccessioning. Objects held in the collection are carefully tracked and monitored. The Museum's deaccessioning policy allows for sale or trade of an object only when it is incompatible with the Museum's collecting mission and when clear and complete title to the work is confirmed. Proceeds from the sale of an object may only be applied toward collection acquisitions. Part III, Line 4: The Museum's collection is comprised of more than 17,000 objects, representing fine and decorative arts from the 18th century to the present. These holdings include paintings, sculpture, prints, photographs, glass, ceramics, furniture, silver, artists' books and other media. Works by George Bellows, Frederic Church, Stuart Davis, John Haberle, William Harnett, Marsden Hartley, Childe Hassam, Winslow Homer, Edward Hopper, Rockwell Kent, Fitz-Henry Lane, Thomas Moran, Louise Nevelson, John Frederick Peto, Maurice Prendergast, John Singer Sargent, and Andrew Wyeth, among others, showcase the unique artistic heritage of the United States and the creative culture of Maine. European traditions are represented by works from the hand of Max Beckmann, Marc Chagall, Gustave Courbet, Edgar Degas, Jean-Auguste-Dominique Ingres, Claude Monet, Henry Matisse, and Pierre-Auguste Renoir. The Museum is accredited by the American Association of Museums and adheres to best practices in developing and managing these works of art in the public trust. Description of Intended Use of Endowment Funds: Part V, Line 4: The Organization's intended use of endowment funds is for general operations, education, maintenance of collection and buildings, acquisition of art for the collection, wages, and other related expenses. Raffle 19500 19500 10000 3855 Fall Event 159642 2775 156867 21452 54045 179142 2775 176367 10000 21452 57900 89352 87015 X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Mark HC Bessire 190647 0 12401 0 0 0 0 0 8360 0 211408 0 0 0 Part I, Line 1a The Museum paid $1,500 for a membership fee and dues to Portland's Cumberland Club, for Mark H.C. Bessire, Director of the Museum. The Cumberland Club is adjacent to the Portland Museum of Art, and membership allows the Director to host meetings for the purpose of conducting Museum business. X 27 0 X 88 770935 Stock Market Value X Auction Items 236 115895 Donor Estimate Value X Gift Annuity Contract 1 435643 Fair Market Value 0 1 1 Third Party Use: Part I, Line 32b: The Organization sells contributions of securities through its investment broker. All gifts of securities are sold as soon as administratively possible. Non Reporting of Revenue: Part I, Line 33: The art collection and library of the Museum are reflected in the plant fund at a nominal value. The cost of a collection item is recorded as a decrease in net assets when purchased. The proceeds from the sale of a collection item are recorded as an increase in net assets when sold. The collection is managed according to a policy which adheres to the standards of the American Association of Museums. The policy delineates responsibilities in such matters as Museum ethics, acquisitions, loans, care of collections, and deaccessioning. Objects held in the collection are carefully tracked and monitored. The Museum's deaccessioning policy allows for sale or trade of an object only when it is incompatible with the Museum's collecting mission and when clear and complete title to the work is confirmed. Proceeds from the sale of an object may only be applied toward collection acquisitions. Form 990, Part VI, Section B, line 11 The Form 990 is distributed to the full board of trustees with sufficient time for each trustee to review it. The 990 is then discussed at a full meeting of the board of trustees, before the board votes to accept the 990. Form 990, Part VI, Section B, line 12c In 2010, a top priority for the Organization's trustees was to formalize its governance procedures. To that end, on May 26, 2010, the Organization's revised bylaws were approved, resulting in the establishment of a governance committee. Since that time, the governance committee has established procedures for monitoring and enforcing compliance with the Organization's policies, including the conflict of interest policy. The Organization now requires each trustee to review and sign a copy of the Organization's Code of Ethics on a yearly basis. Also on a yearly basis, each Trustee is required to complete and submit a personal information form on which any potential conflicts of interest are to be disclosed. If and when a conflict of interest is disclosed, the form is presented to the governance committee to be reviewed and addressed. Form 990, Part VI, Section B, line 15 Per the Museum's Bylaws, the Executive Committee is authorized to exercise the following specific powers and duties on behalf of the Board: (a) To enter into employment with, and to terminate the employment of, the Corporation's chief executive officer (the "Director"), to negotiate and enter into employment contracts with the Director subject to final approval by the Board, to annually review the performance of the Director, to determine the Director's annual compensation adjustments and benefits adjustments, to resolve all disciplinary and other issues relating to the Director's employment; (b) To review annually the performance of any other key employees of the corporation and to resolve all disciplinary and other issues relating to such employees when such tasks are specifically delegated to the Executive Committee by the Board; In 2010 the Museum engaged an independent HR consulting firm, Maine HR Partners, LLC, to conduct a classification and compensation study of all positions at the Portland Museum of Art, including the Director and two Deputy Directors. The study included a customized salary and employee benefits survey of comparable organizations as well as other employers in the relevant market areas and other published surveys. A survey of fringe benefit practices was also conducted and the results incorporated into the final report, in order to consider total compensation in the establishment of a salary structure. Based on their analysis of market data, salary ranges were developed which address the concepts of market competitiveness and internal equity considerations. Maine HR Partners, LLC also worked with Museum staff and the Museum's Human Resources Committee to develop a performance evaluation system, which included 360 degree performance reviews of these three individuals. The Director's performance review is conducted by the Board President and reviewed with the Executive Committee. The two Deputy Directors' performance reviews are conducted by the Director and presented to the Executive Committee. Compensation for these three individuals is determined by vote of the Executive Committee utilizing the performance review data and data from the independent classification and compensation study. Form 990, Part VI, Section C, line 19 The Organization's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Contact Addresses for Officers, Directors, Etc Form 990, Part VII Thomas A. Denenberg - 336 Maeck Farm Road, Shelburne, VT 05482. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -771,291. Oversight of Audit Form 990, Part XI, Line 2c: The audit process has not changed from the prior year.