2011-10-31T15:08:07-05:00 2011-03-31 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2010-04-01 042104937 SOCIETY FOR THE PRESERVATION OF NEW ENGLAND ANTIQUITIES SOCI 6172273956 141 CAMBRIDGE STREET BOSTON MA 021142702 CARL NOLD 6172273957 2011-10-13 1 BARBARA E KING 5087557107 2011-10-13 2010 2016-03-07 17:11:31Z HISTORIC NEW ENGLAND CARL R NOLD 141 CAMBRIDGE STREET BOSTON MA 021142702 71312452 0 X WWW.HISTORICNEWENGLAND.ORG X 1910 MA PRESERVATION OF ANTIQUITIES 22 21 292 50 -8005 -25370 2728147 6159245 445418 629572 1655498 9053012 462044 539824 5291107 16381653 0 0 0 0 5714580 5821207 0 0 762037 5052544 6097180 10767124 11918387 -5476017 4463266 118721234 130470606 4556168 4018480 114165066 126452126 X HISTORIC NEW ENGLAND SERVES THE PUBLIC BY PRESERVING AND PRESENTING NEW ENGLAND HERITAGE. IT IS A MUSEUM OF CULTURAL HISTORY WHICH COLLECTS AND PRESERVES BUILDINGS, LANDSCAPES, AND OBJECTS DATING FROM THE SEVENTEENTH CENTURY TO THE PRESENT AND USES THEM TO KEEP HISTORY ALIVE AND TO HELP PEOPLE DEVELOP A DEEPER UNDERSTANDING AND ENJOYMENT OF NEW ENGLAND LIFE AND APPRECIATION FOR ITS PRESERVATION. 0 0 7562174 1453192 MUSEUMS - THE 36 HISTORIC PROPERTIES OWNED AND RUN BY HISTORIC NEW ENGLAND HAVE BEEN VISITED BY OVER 153,890 INDIVIDUALS. THE PROGRAMS INCLUDE EDUCATION, PUBLIC OUTREACH AND CURATORIAL CARE FOR OVER 110,000 OBJECTS AND 1,000,000 DOCUMENTS AND PHOTOGRAPHS. 925709 CONSERVATION AND PRESERVATION- HISTORIC NEW ENGLAND PROVIDES PROPERTY CARE AND MANAGEMENT SERVICES FOR ALL OF THE ORGANIZATION'S HISTORIC PROPERTIES AND LANDSCAPES. 209621 STEWARDSHIP PRESERVATION-ADMINISTERS 77 EASEMENTS THAT PROTECT HISTORIC BUILDINGS THROUGHOUT NEW ENGLAND. 8697504 1 1 0 0 0 1 1 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 85 0 1 292 1 1 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 22 21 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA CT ME RI NH X X JASON COSTA 6172273957 141 CAMBRIDGE STREET BOSTON MA 02114 THEODORE ALFOND 2.00 X 0 0 0 DEBORAH L ALLINSON 2.00 X 0 0 0 GEORGE C BALLANTYNE 2.00 X 0 0 0 ANN BEHA 2.00 X 0 0 0 JOAN M BERNDT 2.00 X 0 0 0 JOSEPH S JUNKIN 2.00 X 0 0 0 ARLEYN A LEVEE 2.00 X 0 0 0 KENNEDY P RICHARDSON 2.00 X 0 0 0 MARGARET RUTTENBERG 2.00 X 0 0 0 SUSAN SLOAN 2.00 X 0 0 0 THERESA M STONE 2.00 X 0 0 0 WILLIAM VAREIKA 2.00 X 0 0 0 MAUREEN FENNESSY-BOUSA 2.00 X 0 0 0 EDWARD LEE CAVE 2.00 X 0 0 0 WILLIAM CS HICKS 2.00 X 0 0 0 ROBERT A PEMBERTON 2.00 X 0 0 0 ROGER SERVISON 2.00 X 0 0 0 E CLOTHIER TEPPER 2.00 X 0 0 0 NANCY BARNARD 2.00 X 0 0 0 MAUREEN MEISTER 2.00 X 0 0 0 SANDRA OURUSOFF 2.00 X 0 0 0 RANDY PARKER 2.00 X 0 0 0 CARL R NOLD 80.00 X X X 263360 0 32468 DIANE VIERA 40.00 X 165770 0 21582 KIMBERLEA TRACY 40.00 X 163770 0 12022 JASON COSTA 80.00 X 33000 0 6463 JOHN ARSENEAULT 40.00 X 55140 0 2206 592900 0 66072 3 0 1 0 0 318626 33000 497274 5310345 6159245 ADMISSIONS 713990 607157 607157 LICENSE AND ROYALTY 713990 22415 22415 629572 1395387 1395387 477337 224906 207234 212192 270103 12714 282817 290822 -8005 59378620 2595291 54295569 20717 5083051 2574574 7657625 7657625 136085 33000 78624 57461 57461 298495 116463 182032 182032 MISCELLANEOUS INCOME 713990 17514 17514 17514 16381653 8755150 -8005 1475263 4759100 3250792 971910 536398 134057 77458 41808 14791 598034 402447 128910 66677 330016 226094 66717 37205 43167 43167 42406 42406 662494 397496 264998 672822 239774 344546 88502 586952 478196 108756 187488 139473 43691 4324 86327 86327 293038 257024 35135 879 FACILITY IMPROVEMENTS & 1904944 1904944 CONSULTING & CONTRACT L 566017 332034 230473 3510 GROUND IMPROVEMENT & MA 487767 466645 21122 ADMINISTRATIVE EXPENSE 338469 242873 88521 7075 COLLECTIONS & EXHIBITIO 302281 293934 8347 -76992 -98007 18339 2676 11918387 8697504 2458846 762037 348612 17149 30894 175966 899688 756262 112397 93631 239277 217340 130886 200439 6159252 1761875 4452083 4397377 99517554 110985501 12929183 13559595 60660 67346 118721234 130470606 903520 659507 1855000 1855000 976888 763286 820760 740687 4556168 4018480 X 37574760 38520062 49536173 55119652 27054133 32812412 114165066 126452126 118721234 130470606 X 4463266 7823793 X 0 1 1 X 0 X 7218667 2852032 2932656 2728147 6159245 21890747 7218667 2852032 2932656 2728147 6159245 21890747 21890747 3343835 5646436 3781455 2161933 2120045 17053704 192759 25514 7593 4363 17514 247743 39192194 3937095 0.55850 0.50640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 77 734.37 75 7 0 5 1 2600.00 209621 1 X X X X 0 82271832 5100375 10288186 5221797 92438596 61267197 5000 25899037 4899402 82271832 89933131 366907 -24118757 -4914084 61267197 0.29390 0.35500 0.35110 0 0 3358335 405799 2952536 462300 103242 359058 1063256 757222 306034 1275361 495612 779749 4397377 HISTORIC PROPERTIES 4095615 C BENEFICIAL INTEREST IN PERPETUAL TRUSTS 9463980 F 13559595 REFUNDABLE DEPOSITS 205112 REFUNDABLE ADVANCES 535575 740687 16381653 11918387 4463266 7012828 810965 7823793 12287059 24157466 7012828 1425477 8438305 15719161 662493 662493 16381654 11870406 614512 614512 11255894 662493 662493 11918387 DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: REVENUE AND EXPENSES FOR THE EASEMENTS ARE NOT REFERENCED IN THE FOOTNOTES OF THE FINANCIAL STATEMENTS RATHER THEY ARE BOOKED IN A SEGREGATED BUDGET CENTER KNOWN AS STEWARDSHIP, THIS INCLUDES ANNUAL FUND REVENUE, PAYROLL, BENEFITS, ADMINISTRATION, ETC. PROCEEDS ARE DEPOSITED INTO THE ORGANIZATION ENDOWMENT AND INVESTMENTS AND DRAWN IN COMPLIANCE WITHIN ITS ANNUAL DRAWDOWN POLICIES. THE ORGANIZATION DOES NOT ACCOUNT FOR EASEMENT PROPERTIES ON ITS BALANCE SHEET. PART III, LINE 1A: CERTAIN PROPERTIES ARE RECORDED AT COST IF PURCHASED OR AT THE APPRAISED VALUE ON THE DATE OF RECEIPT, IF ACQUIRED BY GIFT OR LEGACY, EXCEPT FOR FIVE PROPERTIES, WHICH ARE CARRIED AT ZERO VALUE, AS NO HISTORIC COSTS OR APPRAISED VALUATIONS EXIST. NO PROVISIONS FOR DEPRECIATION IS RECORDED FOR THESE PROPERTIES. ALL EXPENDITURES FOR REPAIRS, MAINTENANCE, RENEWALS, AND BETTERMENTS ARE PRESENTED AS A REDUCTION IN THE APPROPRIATE CLASS OF NET ASSETS. AS ALLOWED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA AND FOLLOWING THE PRACTICES OF MANY LIBRARIES AND MUSEUMS, THE ORGANIZATION HAS NOT CAPITALIZED ITS COLLECTION OF ITEMS OF HISTORICAL NATURE AND OTHER RELATED OBJECTS PURCHASED OR DONATED, WITH THE EXCEPTION OF PROPERTIES. THE COLLECTION IS HELD FOR PUBLIC EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. THE ORGANIZATION CONTINUALLY REVIEWS ITS COLLECTION AND MAY DEACCESS OR ACQUIRE ADDITIONAL ITEMS. EXPENDITURES FOR ADDITIONAL COLLECTION ITEMS ARE PRESENTED AS A REDUCTION IN THE APPROPRIATE CLASS OF NET ASSETS. PART III, LINE 4: HISTORIC NEW ENGLAND IS A MUSEUM OF CULTURAL HISTORY WHICH COLLECTS AND PRESERVES BUILDINGS, LANDSCAPES, AND OBJECTS DATING FROM THE SEVENTEENTH CENTURY TO THE PRESENT AND USES THEM TO KEEP HISTORY ALIVE AND TO HELP PEOPLE DEVELOP A DEEPER UNDERSTANDING AND ENJOYMENT OF NEW ENGLAND LIFE AND APPRECIATION FOR ITS PRESERVATION. HISTORIC NEW ENGLAND'S COLLECTIONS COMPRISE THE LARGEST ASSEMBLAGE OF NEW ENGLAND ART AND ARTIFACTS IN THE COUNTRY, AN EXTRAORDINARY BROAD COLLECTION OF MORE THAN 110,000 OBJECTS OF HISTORICAL AND AESTHETIC SIGNIFICANCE. THESE COLLECTIONS HELP PEOPLE UNDERSTAND THE REGION'S HERITAGE THROUGH THE POSSESSIONS OF THOSE WHO LIVED HERE, AND APPRECIATE THE INGENUITY, CRAFTSMANSHIP, AND STYLE OF THE REGION. IN ADDITION, THE HISTORIC NEW ENGLAND LIBRARY AND ARCHIVES INCLUDE MORE THAN ONE MILLION ITEMS THAT DOCUMENT NEW ENGLAND'S ARCHITECTURAL AND CULTURAL HISTORY - PHOTOGRAPHS, ARCHITECTURAL DRAWINGS, EPHEMERA, MANUSCRIPTS, FAMILY PAPERS, AND BOOKS. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT CONSISTS OF ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. ENDOWMENT FUNDS INCLUDE INVESTED GIFTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE ORGANIZATION CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDLOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS TEMPORORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE ORGANIZATION IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE ORGANIZATION CAN CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUND; THE DURATION AND PRESENTATION OF THE FUND; THE PURPOSES OF THE ORGANIZATION AND THE DONOT-RESTRICTED ENDOWMENT FUND; GENERAL ECONOMIC CONDITIONS; THE POSSIBLE EFFECT OF INFLATION AND DEFLATION; THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS; OTHER RESOURCES OF THE ORGANIZATION; AND THE INVESTMENT POLICIES OF THE ORGANIZATION. THE ORGANIZATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS BOARD-DESIGNATED AND OTHER ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASE POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE ORGANIZATION'S INVESTMENT COMMITTEE SHALL SEEK TO INVEST THE ENDOWMENT FUNDS IN SUCH A MANNER THAT THE INVESTMENTS WILL PROVIDE A SPENDABLE RETURN CONSISTENT WITH A LONG-TERM GOAL OF PRESERVING THE FUNDS IN REAL TERMS. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE ORGANIZATION RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE ORGANIZATION HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE ORGANIZATION HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 5% (THE BOARD MAY APPROVE MORE OR LESS FROM TIME TO TIME) OF THE TWENTY-QUARTER AVERAGE FAIR MARKET VALUE OF THE ENDOWMENT CALCULATED AS OF DECEMBER 31 PRECEDING YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE ORGANIZATION CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. THIS IS CONSISTENT WITH THE ORGANIZATION'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR-IMPOSED RESTRICTIONS REQUIRE THE ORGANIZATION TO RETAIN AS A FUND OF PERPETUAL DURATION. IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, DEFICIENCIES OF THIS NATURE ARE REPORTED IN UNRESTRICTED NET ASSETS. SUCH DEFICIENCIES AMOUNT TO $9,055 AS OF AMRCH 31, 2011. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN ON BENEFICIAL INTEREST IN PERPETUAL TRUST 810,965. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 116,463. RENTAL EXPENSE 419,425. UNREALIZED GAIN ON BENEFICIAL INTEREST IN PERPETUAL TRUST 810,965. FUNDRAISING EXPENSES 78,624. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOOD SOLD 116,463. RENTAL EXPENSE 419,425. FUNDRAISING EXPENSES 78,624. X X X X X 0 MA NH CT ME 2010 GALA 169085 33000 136085 78624 169085 33000 136085 78624 78624 57461 X X X X 0 0 0 0 0 0 0 0 0 CARL R NOLD 263360 0 0 0 0 0 24570 0 7898 0 295828 0 0 0 DIANE VIERA 165770 0 0 0 0 0 8172 0 13410 0 187352 0 0 0 KIMBERLEA TRACY 163770 0 0 0 0 0 7805 0 4217 0 175792 0 0 0 MEFA BOND 042104937 57586EL01 2009-07-01 1855000 REFINANCING EXISTING BOND 0 0 0 1855000 18550 27318 1827175 2006 0 0 1 1 0 1 0 0 0 0.43000 0.00000 0.43000 0 0 1 0 0 0 0 X 9 47640 SOLD @ FMV UPON RECEIPT X 6 0 0 1 0 THIRD PARTY USE: PART I, LINE 32B: SCHEDULE M, LINE, 33 NO AMOUNT REPORTED IN REVENUE RELATED TO THE CONTRIBUTIONS OF ART AND HISTORICAL ARTIFACTS ON THE ORGANIZATIONS FORM 990, PART VIII, STATEMENT OF REVENUE, LINE 1G OR SCHEDULE M, PART I BECAUSE THE ORGANIZATION DOES NOT CAPITALIZE ITS COLLECTION AS ALLOWED UNDER SFAS 116. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING, THE 990 WAS DISTRIBUTED TO EACH MEMBER OF THE GOVERNING BODY FOR REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS REVIEWS THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ANNUALLY IN ORDER TO ENSURE THAT THE ORGANIZATION'S BOARD OF DIRECTORS, OFFICERS, AND EMPLOYEES ARE REGULARLY AND CONSISTENTLY MONITORING AND ENFORCING IT. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION DETERMINES COMPENSATION OF ITS CEO BY COMPARISONS TO COMPENSATION LEVELS FOR SIMILAR POSITIONS AT OTHER MUSEUMS/NON-PROFIT ORGANIZATIONS WITH COMPARABLE BUDGETS AND SCOPE OF OPERATIONS. FORM 990, PART VI, SECTION C, LINE 18 FORM 1023 IS AVAILABLE UPON REQUEST. THE ORGANIZATION'S 990 AND 990-T ARE AVAILABLE UPON REQUEST AND ARE ALSO AVAILABLE ON THE WEBSITES OF OTHER ORGANIZATIONS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 7,012,828. UNREALIZED GAIN ON BENEFICIAL INTEREST IN PERPETUAL TRUST 810,965. TOTAL TO FORM 990, PART XI, LINE 5: 7,823,793.