MUSEUM ASSOCIATES: Form 990, tax year 2009
View the entire original 990 at ProPublica ↗
- Organization
- MUSEUM ASSOCIATES (EIN 95-2264067)
- Tax period
- 2009-07-01 to 2010-06-30
- Filed
- 2011-04-15
- IRS object ID
- 201121059349301152
- Schema version
- 2009v1.7
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule G
- Schedule J
- Schedule K
- Schedule L
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-04-15T18:13:05-05:00 | Timestamp |
| Tax Period End Date | 2010-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SINGERLEWAK LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 10960 WILSHIRE BLVD SUITE 700 | AddressLine1 |
| City | LOS ANGELES | City |
| State | CA | State |
| ZIP Code | 900243783 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2009-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 952264067 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MUSEUM ASSOCIATES | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | MUSE | NameControl |
| Phone | 3238576142 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5905 WILSHIRE BLVD | AddressLine1 |
| City | LOS ANGELES | City |
| State | CA | State |
| ZIP Code | 90036 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ANN ROWLAND | Name |
| Title | Chief Financial Officer | Title |
| Phone | 3238576142 | Phone |
| Date Signed | 2011-03-09 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Lior Temkin | Name |
| Phone | 3104773924 | Phone |
| Date Prepared | 2011-03-09 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2009 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
Doing Business As DoingBusinessAs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | LOS ANGELES COUNTY MUSEUM OF ART (LA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | ANN ROWLAND | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5905 WILSHIRE BLVD | AddressLine1 |
| City | LOS ANGELES | City |
| State | CA | State |
| ZIP Code | 90036 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 79923181 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.LACMA.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1938 | YearFormation |
| State Legal Domicile | CA | StateLegalDomicile |
| Activity Or Mission Description | 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. (SEE FORM 990, PART III, LINE 1 FOR ADDITIONAL DESCRIPTION) | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 48 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 47 | NbrIndependentVotingMembers |
| Total Nbr Employees | 378 | TotalNbrEmployees |
| Total Nbr Volunteers | 601 | TotalNbrVolunteers |
| Total Gross UBI | 537270 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | -13087 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 42676923 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 40952868 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 25300815 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 32774453 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -46957846 | InvestmentIncomePriorYear |
| Investment Income Current Year | 3325723 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1734669 | OtherRevenuePriorYear |
| Other Revenue Current Year | 1768219 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 22754561 | TotalRevenuePriorYear |
| Total Revenue Current Year | 78821263 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 25301166 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 23496498 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 3600609 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 72371769 | OtherExpensePriorYear |
| Other Expenses Current Year | 57880532 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 97672935 | TotalExpensesPriorYear |
| Total Expenses Current Year | 81377030 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | -74918374 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | -2555767 | RevenuesLessExpensesCY |
| Total Assets BOY | 717422100 | TotalAssetsBOY |
| Total Assets EOY | 741509602 | TotalAssetsEOY |
| Total Liabilities BOY | 434250240 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 451336207 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 283171860 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 290173395 | NetAssetsOrFundBalancesEOY |
| Mission Description | SEE SCHEDULE O PART 990, PART I, LINE 1 FOR DESCRIPTION(CONTINUATION FROM FORM 990, PART I, LINE 1)This fiscal year, the museum mounted 31 Exhibitions and permanent collection installations, acquired 2,658 new works of art, provided programs for 66,212 school children, and made continued progress on enhancing the physical campus, including completion of construction of the new 45,000 square foot Resnick Pavilion, surrounding Kelly and Robert Day Gardens, and B. Gerald Cantor Sculpture Garden. Total attendance at the museum was 904,921. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 24887662 | Expense |
| Revenue | 441843 | Revenue |
| Description | EXHIBITION, CURATORIAL, CONSERVATION & ART PROGRAMSLACMA organized 11 special exhibitions and 20 installations in fiscal 2009-2010, 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 permanent 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. | Description |
Activity2 Activity2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 16077425 | Expense |
| Revenue | 9026630 | Revenue |
| Description | 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. | Description |
Activity3 Activity3
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 14112187 | Expense |
| Revenue | 0 | Revenue |
| Description | FACILITY ENHANCEMENTDuring the fiscal year 2009-2010, expenses included renovation of existing museum facilities in connection with the Lynda and Stewart Resnick Exhibition Pavilion - a major addition to the museum campus. These projects will permit expanded and improved service to the museum's public by increasing the amount of art on view and unifying the museum campus. Since these projects are largely capitalized as they are built, expenses are largely depreciation of construction costs and amortization of financing costs. | Description |
Activity Other ActivityOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | 14621872 | Expense |
| Revenue | 24189523 | Revenue |
| Description | 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. | Description |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Other Program Service Exp | 14621872 | TotalOfOtherProgramServiceExp |
| Total Of Other Program Service Rev | 24189523 | TotalOfOtherProgramServiceRev |
| Total Program Service Expense | 69699146 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 1 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Balance Sheet Amounts Reported | 1 | BalanceSheetAmountsReported |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 1 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 1 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 417 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 378 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Nbr Voting Governing Body Members | 48 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 47 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 1 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | CA | StatesWhereCopyOfReturnIsFiled |
| Own Website | X | OwnWebsite |
| Other Website | X | OtherWebsite |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ANN ROWLAND Chief Financial Officer | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 3238576142 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5906 WILSHIRE BLVD | AddressLine1 |
| City | LOS ANGELES | City |
| State | CA | State |
| ZIP Code | 90036 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (60 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Key EmployeeKeyEmployee | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|---|
| Andrew Gordon | ||||||||
| Co-Chair of the Board | 0.50 | X | X | 0 | 0 | 0 | ||
| Terry Semel | ||||||||
| Co-Chair of the Board | 0.50 | X | X | 0 | 0 | 0 | ||
| William H Ahmanson | ||||||||
| Vice Chair | 0.50 | X | X | 0 | 0 | 0 | ||
| Robert Kotick | ||||||||
| Vice Chair | 0.50 | X | X | 0 | 0 | 0 | ||
| Lynda Resnick | ||||||||
| Vice Chair | 0.50 | X | X | 0 | 0 | 0 | ||
| Wallis Annenberg | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Willow Bay | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| William J Bell Jr | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Rebecka Belldegrun | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Nicolas Berggruen | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| David C Bohnett | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Suzanne Deal Booth | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Brigitte Bren | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Gabriel Brener | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Eva Chow | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Ann Colgin | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Kelly Day | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Joshua S Friedman | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Camilla Chandler Frost | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Tom Gores | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Brian Grazer | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Ghada Irani | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Victoria Jackson | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Suzanne Kayne | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Mrs Harry Lenart YVONNE | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Robert Looker | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Michael Lynton | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Robert F Maguire III | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Jamie McCourt | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Richard Merkin MD | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Wendy Stark Morrissey | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Jane Nathanson | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Peter Norton | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Geoffrey Palmer | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Anthony N Pritzker | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Janet Dreisen Reppaport | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Tony Ressler | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Edward P Roski Jr | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Steven F Roth | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Carole Bayer Sager | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Florence Sloan | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Eric Smidt | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Michael G Smooke | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Barbra Streisand | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Sandra W Terner | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Steve Tisch | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Casey Wasserman | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Dasha Zhukova | ||||||||
| Trustee | 0.50 | X | 0 | 0 | 0 | |||
| Michael Govan | ||||||||
| CEO & Wallis Annenberg Dir. | 40.00 | X | 756466 | 158178 | 274607 | |||
| Melody Kanschat | ||||||||
| President and COO | 40.00 | X | 375150 | 0 | 180367 | |||
| Fred Goldstein | ||||||||
| VP, Sec'y and General Counsel | 40.00 | X | 265673 | 0 | 35935 | |||
| Ann Rowland | ||||||||
| Chief Financial Officer | 40.00 | X | 50378 | 135804 | 74469 | |||
| Theresa Morello | ||||||||
| Vice President of Development | 40.00 | 204041 | 0 | 30642 | X | |||
| Nancy Thomas | ||||||||
| Deputy Dir. Art Admin. | 40.00 | 87952 | 113376 | 59861 | X | |||
| Mark Mitchell | ||||||||
| Budget and Investment Officer | 40.00 | 174119 | 0 | 19235 | X | |||
| Peter Bodell | ||||||||
| Chief Information Officer | 40.00 | 167593 | 0 | 34102 | X | |||
| John Bowsher | ||||||||
| Dir. of Art Installations and F | 40.00 | 160273 | 0 | 20323 | X | |||
| Melissa Bomes | ||||||||
| Associate VP of Development | 40.00 | 157068 | 0 | 11764 | X | |||
| Alvaro Vasquez | ||||||||
| Associate VP of Membership | 40.00 | 150852 | 0 | 22211 | X | |||
| Mark Gilberg | ||||||||
| Director of Conservation | 40.00 | 144812 | 0 | 30583 | X | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2694377 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 407358 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 794099 | TotalOtherCompensation |
| Number Individuals GT100 K | 22 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| MATT CONSTRUCTION | |||||
| 9814 NORWALK BLVD STE 100 | SANTA FE SPRINGS | CA | 90670 | CONSTRUCTION | 35191522 |
| Allied Barton Security services | |||||
| EIGHT TOWER BRIDGE 161 WASHINGTON | Conshohocken | PA | 19428 | security AND PROTECTIVE SERVICES | 4069577 |
| Gensler | |||||
| 2500 BROADWAY SUITE 300 | SANTA MONICA | CA | 90404 | ARCHITECTUAL SERVICES | 1152704 |
| SPF Architects | |||||
| 8609 Washington Boulevard | Culver City | CA | 90232 | ARCHITECTUAL SERVICES | 1147600 |
| Swinerton Builders | |||||
| 260 TOWNSEND STREET | SAN FRANCISCO | CA | 94107 | building contractor | 929537 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 52 | NumberOfContractorsGT100K |
| Membership Dues | 8562980 | MembershipDues |
| Fundraising Events | 925767 | FundraisingEvents |
| Government Grants | 579598 | GovernmentGrants |
| All Other Contributions | 30884523 | AllOtherContributions |
| Noncash Contributions | 1146215 | NoncashContributions |
| Total Contributions | 40952868 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| COUNTY OPERATING CONTR | 900099 | 18887000 | 18887000 |
| COLLECTION ITEMS SOLD | 900099 | 9026630 | 9026630 |
| ADMISSIONS | 900099 | 2790659 | 2790659 |
| COUNCILS | 900099 | 458047 | 458047 |
| EXHIBITION REVENUE | 900099 | 441843 | 441843 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1170274 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1170274 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 32774453 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2712481 | TotalRevenueColumn |
| Unrelated Business Revenue | -7086 | UnrelatedBusinessRevenue |
| Exclusion | $2,719,567 | ExclusionAmount |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 447576 | TotalRevenueColumn |
| Exclusion | $447,576 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 48353 | TotalRevenueColumn |
| Exclusion | $48,353 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 165666 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 165666 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 165666 | TotalRevenueColumn |
| Exclusion | $165,666 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 315464 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 925767 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 315464 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 1669997 | GrossSalesOfInventory |
| Cost Of Goods Sold | 786454 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 883543 | TotalRevenueColumn |
| Related Or Exempt Function Income | 883543 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Unrelated Business RevenueUnrelatedBusinessRevenue | ExclusionExclusionAmount |
|---|---|---|---|---|
| ART RENTAL & SALES GAL | 532000 | 544356 | 544356 | |
| FACILITY USE FEE | 900099 | 155667 | $155,667 | |
| COMMISSIONED PRINTS | 900099 | 37500 | $37,500 |
Miscellaneous Revenue MiscellaneousRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 98800 | TotalRevenueColumn |
| Exclusion | $98,800 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 836323 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 78821263 | TotalRevenueColumn |
| Related Or Exempt Function Income | 33657996 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 537270 | UnrelatedBusinessRevenue |
| Exclusion | $3,673,129 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2230715 | Total |
| Program Services | 952375 | ProgramServices |
| Management And General | 655023 | ManagementAndGeneral |
| Fundraising | 623317 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 16630135 | Total |
| Program Services | 11922580 | ProgramServices |
| Management And General | 3162085 | ManagementAndGeneral |
| Fundraising | 1545470 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1644788 | Total |
| Program Services | 1164467 | ProgramServices |
| Management And General | 359027 | ManagementAndGeneral |
| Fundraising | 121294 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1708504 | Total |
| Program Services | 1146470 | ProgramServices |
| Management And General | 409429 | ManagementAndGeneral |
| Fundraising | 152605 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1282356 | Total |
| Program Services | 886120 | ProgramServices |
| Management And General | 275026 | ManagementAndGeneral |
| Fundraising | 121210 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 47611 | Total |
| Program Services | 16555 | ProgramServices |
| Management And General | 31056 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 106522 | Total |
| Management And General | 106522 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 643669 | Total |
| Management And General | 643669 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8153041 | Total |
| Program Services | 7311415 | ProgramServices |
| Management And General | 809753 | ManagementAndGeneral |
| Fundraising | 31873 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 470794 | Total |
| Program Services | 467871 | ProgramServices |
| Management And General | 2923 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 6827848 | Total |
| Program Services | 5790508 | ProgramServices |
| Management And General | 517200 | ManagementAndGeneral |
| Fundraising | 520140 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1100553 | Total |
| Program Services | 791256 | ProgramServices |
| Management And General | 234302 | ManagementAndGeneral |
| Fundraising | 74995 | Fundraising |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 56034 | Total |
| Program Services | 55643 | ProgramServices |
| Management And General | 391 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2748072 | Total |
| Program Services | 2352388 | ProgramServices |
| Management And General | 373252 | ManagementAndGeneral |
| Fundraising | 22432 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 893359 | Total |
| Program Services | 768122 | ProgramServices |
| Management And General | 99126 | ManagementAndGeneral |
| Fundraising | 26111 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8301989 | Total |
| Program Services | 8301989 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4951759 | Total |
| Program Services | 4881858 | ProgramServices |
| Management And General | 69901 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2015672 | Total |
| Program Services | 2001949 | ProgramServices |
| Management And General | 8596 | ManagementAndGeneral |
| Fundraising | 5127 | Fundraising |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| ART ACQUISITION | 16077425 | 16077425 | 0 | 0 |
| REMOTE ART OBJECTS | 1672485 | 1672485 | 0 | 0 |
| CONSTRUCTION COSTS | 1070436 | 717300 | 35330 | 317806 |
| HOSPITALITY | 928341 | 928341 | 0 | 0 |
| EQUIPMENT PURCHASE | 364571 | 345036 | 17747 | 1788 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1450351 | Total |
| Program Services | 1146993 | ProgramServices |
| Management And General | 266917 | ManagementAndGeneral |
| Fundraising | 36441 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 81377030 | Total |
| Program Services | 69699146 | ProgramServices |
| Management And General | 8077275 | ManagementAndGeneral |
| Fundraising | 3600609 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 32071859 | BOY |
| EOY | 28602532 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 117431448 | BOY |
| EOY | 113835320 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2566253 | BOY |
| EOY | 1832699 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1092807 | BOY |
| EOY | 1205376 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 124147 | BOY |
| EOY | 1356680 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 334888720 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 20719799 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 280273771 | BOY |
| EOY | 314168921 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 163888753 | BOY |
| EOY | 199544622 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 119973062 | BOY |
| EOY | 80963452 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 717422100 | BOY |
| EOY | 741509602 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 15952260 | BOY |
| EOY | 11683001 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1069126 | BOY |
| EOY | 1724306 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 383000000 | BOY |
| EOY | 383000000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1199589 | BOY |
| EOY | 7500000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 33029265 | BOY |
| EOY | 47428900 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 434250240 | BOY |
| EOY | 451336207 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 111889544 | BOY |
| EOY | 116281027 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 150362675 | BOY |
| EOY | 151913103 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20919641 | BOY |
| EOY | 21979265 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 283171860 | BOY |
| EOY | 290173395 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 717422100 | BOY |
| EOY | 741509602 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 41815379 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 94522304 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 135804657 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 42565858 | CurrentTaxYearMinus1Year |
| Current Tax Year | 40952868 | CurrentTaxYear |
| Total | 355661066 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 41815379 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 94522304 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 135804657 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 42565858 | CurrentTaxYearMinus1Year |
| Current Tax Year | 40952868 | CurrentTaxYear |
| Total | 355661066 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 46412777 | AmountsSubstContributorsTotal |
| Public Support Total170 | 309248289 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 5482800 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 5952094 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 9925791 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 4696222 | CurrentTaxYearMinus1Year |
| Current Tax Year | 3381162 | CurrentTaxYear |
| Total | 29438069 | Total |
Net UBI NetUBI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 50694 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 155078 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 54642 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 34054 | CurrentTaxYearMinus1Year |
| Current Tax Year | -13087 | CurrentTaxYear |
| Total | 281381 | Total |
Other Income170 OtherIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 1339350 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 928064 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 686379 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 339786 | CurrentTaxYearMinus1Year |
| Current Tax Year | 291967 | CurrentTaxYear |
| Total | 3585546 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 388966062 | TotalSupport |
| Gross Receipts From Admissions Etc | 114205044 | GrossReceiptsFromAdmissionsEtc |
| Public Support Pertcentage170 | 0.79510 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.76950 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
| General Explanation | 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 | GeneralExplanation |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule C IRS990ScheduleC
Total Grassroots Lobbying TotalGrassrootsLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Total Direct Lobbying TotalDirectLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 6911 | FilingOrganizationsTotals |
Total Lobbying Expenditures TotalLobbyingExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 6911 | FilingOrganizationsTotals |
Other Exempt Purpose Expenditures OtherExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 81377030 | FilingOrganizationsTotals |
Total Exempt Purpose Expenditures TotalExemptPurposeExpenditures
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 81383941 | FilingOrganizationsTotals |
Lobbying Nontaxable LobbyingNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 1000000 | FilingOrganizationsTotals |
Grassroots Nontaxable GrassrootsNontaxableAmount
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 250000 | FilingOrganizationsTotals |
Tot Lobbying Grassroot Minus Non Tx TotLobbyingGrassrootMinusNonTx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Tot Lobby Expend Mns Lobbying Nontx TotLobbyExpendMnsLobbyingNontx
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Totals | 0 | FilingOrganizationsTotals |
Lobbying Nontaxable Amount2 LobbyingNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus2 | 1000000 | CurrentYearMinus2 |
| Current Year Minus1 | 1000000 | CurrentYearMinus1 |
| Current Year | 1000000 | CurrentYear |
| Total | 3000000 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $4,500,000 | LobbyingCeilingAmount |
Total Lobbying Expenditures2 TotalLobbyingExpenditures2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus2 | 30303 | CurrentYearMinus2 |
| Current Year Minus1 | 936875 | CurrentYearMinus1 |
| Current Year | 6911 | CurrentYear |
| Total | 974089 | Total |
Grassroots Nontaxable Amount2 GrassrootsNontaxableAmount2
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus2 | 250000 | CurrentYearMinus2 |
| Current Year Minus1 | 250000 | CurrentYearMinus1 |
| Current Year | 250000 | CurrentYear |
| Total | 750000 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $1,125,000 | GrassrootsCeilingAmount |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | Part IV, Supplemental Information: | Identifier |
| Explanation | 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. | Explanation |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collect Used For Public Exhibition | X | CollectUsedForPublicExhibition |
| Collect Used For Scholar Research | X | CollectUsedForScholarResearch |
| Collect Used For Preservation | X | CollectUsedForPreservation |
| Collect Used For Loan Or Exch Prgrms | X | CollectUsedForLoanOrExchPrgrms |
Collection Used For Other CollectionUsedForOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used For Other Purposes | X | CollectionUsedForOtherPurposes |
| Description Of Other Purposes | Public Education | DescriptionOfOtherPurposes |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Solicited Assets For Sale | 0 | SolicitedAssetsForSale |
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 99571155 | BeginningOfYearBalance |
| Contributions | 17948 | Contributions |
| Investment Earnings Or Losses | 14057814 | InvestmentEarningsOrLosses |
| Other Expenditures | 6868978 | OtherExpenditures |
| End Of Year Balance | 106777939 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 148060293 | BeginningOfYearBalance |
| Contributions | 37200 | Contributions |
| Investment Earnings Or Losses | -41522387 | InvestmentEarningsOrLosses |
| Other Expenditures | 7003951 | OtherExpenditures |
| End Of Year Balance | 99571155 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.46700 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.20600 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.32700 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 36143953 | OtherCostOrOtherBasis |
| Book Value | 36143953 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 298744767 | OtherCostOrOtherBasis |
| Depreciation | 20719799 | Depreciation |
| Book Value | 278024968 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 314168921 | TotalOfBookValueLandBuildings |
Other Assets OtherAssets (2 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| REVENUE BOND TRUST ACCOUNTS | 64692387 |
| capitalized REVENUE BOND ISSUANCE COSTS | 16271065 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 80963452 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| INTEREST RATE SWAPS | $44,836,523 |
| SPLIT-INTEREST AGREEMENT LIABILITIES | $1,117,553 |
| UNDERFUNDED PENSION LIABILITIES | $672,456 |
| CAPITAL LEASE OBLIGATION | $802,368 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 47428900 | TotalOfAmounts |
| Total Revenue | 78821263 | TotalRevenue |
| Total Expenses | 81377030 | TotalExpenses |
| Excess Or Deficit For Year | -2555767 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 23166786 | NetUnrealizedGLOnInvestments |
| Other | -$13,609,484 | OtherAmount |
| Total Adjustments | 9557302 | TotalAdjustments |
| Excess Or Deficit Per FS | 7001535 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 82622928 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 23166786 | NetUnrealizedGainsInvestments |
| Other Revenues | -14253153 | OtherRevenues |
| Revenue Not Rptd F990 | 8913633 | RevenueNotRptdF990 |
| Revenue Subtotal | 73709295 | RevenueSubtotal |
| Other Revenues Not Included | 5111968 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 5111968 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 78821263 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 68389159 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | -12987871 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | -12987871 | ExpensesNotRptdF990 |
| Expenses Subtotal | 81377030 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 81377030 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (9 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| 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. | |
| 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 Intended Use of Endowment Funds: |
| Part X: | In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") Topic No. 740, "Uncertainty in Income Taxes" ("ASC 740") (formerly FASB Interpretation No. 48 ("FIN 48"), "Accounting for Uncertainty in Income Taxes - an interpretation of FASB Statement 109"), the Museum recognizes the impact of tax positions in the financial statements 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 years ended June 30, 2010 and 2009, respectively, the Museum performed an evaluation of uncertain tax positions and did not note any matters that would require recognition in the financial statements or which may have an effect on its tax-exempt status. | Description of Uncertain Tax Positions Under FIN 48: |
| Part XI, Line 8 - Other Adjustments: | UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP: -13609484. | |
| Part XII, Line 2d - Other Adjustments: | UNREALIZED GAINS/LOSSES - ON INTEREST RATE SWAP: -13609484. INVESTMENT MANAGEMENT FEES: -643669. | |
| Part XII, Line 4b - Other Adjustments: | COGS: -786454. COLLECTION ITEMS SOLD: 9026630. DOUBTFUL PLEDGES: -3128208. | |
| Part XIII, Line 2d - Other Adjustments: | COGS: 786454. ART ACCESSIONS: -16047435. DEFERRED ACTUARIAL LOSS: -211429. INVESTMENT MANAGEMENT FEES: -643669. DOUBTFUL PLEDGES: 3128208. | |
| Part XII, Line 4b & Part XIII, Line 2d: The doubtful pledges amount referenced in Part XII and in Part XIII pertains to a pledge that the Museum wrote off that, thus far, remains unpaid from Eli Broad, a non-voting Life Trustee and a major gift donor to the Museum, in the amount of $5,496,589. This amount is related to a 2004 pledge agreement in which BCAM building costs over $50 million were to be approved and paid by the donor. Although the donor disputes the amount in question, management believes the costs were approved and that the amount remains due and owing. Until the resolution of this issue, the Museum believes the most appropriate and conservative accounting treatment is to write down the full amount of the unpaid pledge. The pledge was written off, in part, against the income statement and in part against a reserve for doubtful pledges. |
Schedule G IRS990ScheduleG
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | RESNIK PAVILION | NameOfEvent1 |
| Gross Receipts Event1 | 1107800 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 840669 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 267131 | GrossRevenueEvent1 |
| Other Direct Expenses Event1 | 267131 | OtherDirectExpensesEvent1 |
| Name Of Event2 | Art Museum Council | NameOfEvent2 |
| Gross Receipts Event2 | 57843 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 38154 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 19689 | GrossRevenueEvent2 |
| Other Direct Expenses Event2 | 19689 | OtherDirectExpensesEvent2 |
| Total Number Of Other Events | 6 | TotalNumberOfOtherEvents |
| Gross Receipts Other Events | 75600 | GrossReceiptsOtherEvents |
| Charitable Contrib Other Events | 46944 | CharitableContribOtherEvents |
| Gross Revenue Other Events | 28656 | GrossRevenueOtherEvents |
| Other Direct Expenses Other Events | 28656 | OtherDirectExpensesOtherEvents |
| Gross Receipts Total | 1241243 | GrossReceiptsTotal |
| Charitable Contributions Total | 925767 | CharitableContributionsTotal |
| Gross Revenue Total Events | 315476 | GrossRevenueTotalEvents |
| Other Direct Expenses Total Events | 315476 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 315476 | DirectExpenseSummaryEvents |
| Net Income Summary | 0 | NetIncomeSummary |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 1 | InitialContractException |
| Rebuttable Presumption Procedure | 1 | RebuttablePresumptionProcedure |
Form990 Schedule J Part II Form990ScheduleJPartII (12 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Michael Govan | |||||||||||||
| 587466 | 151878 | 0 | 0 | 169000 | 6300 | 220156 | 0 | 0 | 54451 | 976622 | 212629 | 0 | 0 |
| Melody Kanschat | |||||||||||||
| 375000 | 0 | 0 | 0 | 150 | 0 | 176028 | 0 | 4339 | 0 | 555517 | 0 | 298440 | 0 |
| Fred Goldstein | |||||||||||||
| 265673 | 0 | 0 | 0 | 0 | 0 | 31596 | 0 | 4339 | 0 | 301608 | 0 | 0 | 0 |
| Ann Rowland | |||||||||||||
| 50378 | 135804 | 0 | 0 | 0 | 0 | 7925 | 0 | 0 | 66544 | 58303 | 202348 | 0 | 0 |
| Theresa Morello | |||||||||||||
| 204041 | 0 | 0 | 0 | 0 | 0 | 20673 | 0 | 9969 | 0 | 234683 | 0 | 0 | 0 |
| Nancy Thomas | |||||||||||||
| 87952 | 113376 | 0 | 0 | 0 | 0 | 14657 | 0 | 0 | 45204 | 102609 | 158580 | 0 | 0 |
| Mark Mitchell | |||||||||||||
| 173869 | 0 | 0 | 0 | 250 | 0 | 14831 | 0 | 4404 | 0 | 193354 | 0 | 0 | 0 |
| Peter Bodell | |||||||||||||
| 167593 | 0 | 0 | 0 | 0 | 0 | 24023 | 0 | 10079 | 0 | 201695 | 0 | 0 | 0 |
| John Bowsher | |||||||||||||
| 160273 | 0 | 0 | 0 | 0 | 0 | 15919 | 0 | 4404 | 0 | 180596 | 0 | 0 | 0 |
| Melissa Bomes | |||||||||||||
| 157068 | 0 | 0 | 0 | 0 | 0 | 11764 | 0 | 0 | 0 | 168832 | 0 | 0 | 0 |
| Alvaro Vasquez | |||||||||||||
| 150852 | 0 | 0 | 0 | 0 | 0 | 12242 | 0 | 9969 | 0 | 173063 | 0 | 0 | 0 |
| Mark Gilberg | |||||||||||||
| 144812 | 0 | 0 | 0 | 0 | 0 | 20789 | 0 | 9794 | 0 | 175395 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | Part I, Line 8 | ReturnReference |
| Explanation | The employment agreement between the organization and the ceo and Director that was in effect during the fiscal year ended June 30, 2010 was negotiated at arms-length by the search committee of the Board of Trustees, and reviewed and approved by the Executive Committee, the Audit Committee and the full Board, prior TO the time that the Director was retained by LACMA. Effective July 1, 2010, the organization entered into a new employment agreement with the Director for a term ending June 30, 2016. Such new employment agreement was negotiated by the Co-Chairmen of the Board of Trustees and reviewed and approved by the Executive Committee, the Audit Committee and the full Board of Trustees, following the rebuttable presumption procedure described in the regulations. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (5 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer |
|---|---|---|---|---|---|---|
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY | ||||||
| 680164610 | 130795YO3 | 2008-09-10 | 100000000 | CONSTRUCTION | 0 | 0 |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY | ||||||
| 680164610 | 130795YE1 | 2008-09-10 | 100000000 | CONSTRUCTION | 0 | 0 |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY | ||||||
| 680164610 | 130795YF8 | 2008-09-10 | 95000000 | CONSTRUCTION | 0 | 0 |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY | ||||||
| 680164610 | 130795YG6 | 2008-09-10 | 60000000 | CONSTRUCTION | 0 | 0 |
| CALIFORNIA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY | ||||||
| 680164610 | 130795YH4 | 2008-09-10 | 28000000 | CONSTRUCTION | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (5 entries)
| Total ProceedsTotalProceeds | Amount UnspentAmountUnspent | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|
| 100000000 | 16710183 | 851861 | 2010 | 0 | 0 | 0 | 1 |
| 100000000 | 16710183 | 851861 | 2010 | 0 | 0 | 0 | 1 |
| 95000000 | 15874674 | 809268 | 2010 | 0 | 0 | 0 | 1 |
| 60000000 | 10026110 | 511116 | 2010 | 0 | 0 | 0 | 1 |
| 28000000 | 4678851 | 238521 | 2010 | 0 | 0 | 0 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (5 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Prcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthers | Percentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBI | Total Private Business UseTotalPrivateBusinessUse | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 1 | 0 | 1 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 1 | 0 | 1 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 1 | 0 | 1 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 1 | 0 | 1 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 1 | 0 | 1 | 0.00000 | 0.00000 | 0.00000 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (5 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|
| 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
| 0 | 1 | 0 | 0 | 0 | 0 |
Schedule L IRS990ScheduleL
Form990 Schedule L Part IV Form990ScheduleLPartIV
Name Of Interested Person NameOfInterestedPerson
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JOSHUA S FRIEDMAN | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship | TRUSTEE MR. FRIEDMAN IS A TRUSTEE OF MUSEUM ASSOCIATES. | Relationship |
| Amount Of Transaction | 523004 | AmountOfTransaction |
| Description Of Transaction | 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. | DescriptionOfTransaction |
| Sharing Of Revenues | 1 | SharingOfRevenues |
Schedule M IRS990ScheduleM
Works Of Art WorksOfArt
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 95 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | SEE PART II | MethodOfDeterminingRevenues |
Art Fractional Interest ArtFractionalInterest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 0 | NoncashContribsRptdF990 |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 16 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 1146215 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FMV of average stock val | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 17 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 1 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| 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. |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (12 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| 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 April 2006. 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 annually 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. 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's Committee recommendation is presented to the Audit Committee of the Board of Trustees, which reviews 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, to determine whether, in the Audit Committee's judgment, 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 Executive Committee and 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. | |
| Schedule K Supplental Information | Revenue Bonds On May 26, 2004, pursuant to an indenture (the "Indenture") by and between the California Statewide Communities Development Authority (the "Issuer") and BNY Western Trust Company, as trustee (the "Trustee"), $118,575,000 of tax-exempt Auction Rate Securities ("2004A&B Bonds") were issued in two series: Series 2004A was issued for $50,000,000 and Series 2004B was issued for $68,575,000. The 2004A&B Bonds were issued in $25,000 denominations with a variable interest rate that is reset every seven days. The Issuer lent the proceeds of the 2004A&B Bonds to the Museum pursuant to a Loan Agreement (the "Loan Agreement") by and between the Issuer and the Museum. Such proceeds received by the Museum were used to finance (i) the construction of new capital improvements on LACMA's campus, (ii) capitalized interest on the 2004A&B Bonds, and (iii) costs of issuance of the 2004A&B Bonds. On October 30, 2004, pursuant to an indenture (the "Indenture") by and between the California Statewide Communities Development Authority (the "Issuer") and US Bank, as trustee (the "Trustee"), $57,625,000 of tax-exempt Variable Rate Demand Obligations ("2004C Bonds") were issued. The 2004C Bonds were issued in $100,000 denominations with a variable interest rate that is reset every week. The Issuer lent the proceeds of the Series 2004C Bonds to the Museum pursuant to a Loan Agreement (the "Loan Agreement") by and between the Issuer and the Museum. Such proceeds received by the Museum were used to finance (i) the design, construction, installation, furnishings and equipping of a new subterranean parking garage on LACMA's campus, (ii) capitalized interest on the 2004C Bonds, and (iii) costs of issuance of the 2004C Bonds. On November 9, 2007, pursuant to an Indenture (the "Indenture") by and between the California Statewide Communities Development Authority (the "Issuer") and US Bank as trustee (the "Trustee"), $200,000,000 of tax-exempt Auction Rate Securities ("2007A,B,C&D Bonds") were issued in four series (Series 2007A, Series 2007B, Series 2007C and Series 2007D) and each for $50,000,000. The 2007A,B,C&D Bonds were issued in $25,000 denominations with variable interest rates which reset every seven days. The Issuer lent the proceeds of the 2007A,B,C&D Bonds to the Museum pursuant to a Loan Agreement (the "Loan Agreement") by and between the Issuer and the Museum. Such proceeds received by the Museum will be used to finance (i) the design, construction, installation, furnishings and equipping of a new exhibition pavilion, (ii) renovation and improvements to LACMA West, (iii) increase capacity to LACMA's central heating and cooling plant, (iv) capitalized interest on the 2007A,B,C&D Bonds, and (v) costs of issuance of the 2007A,B,C&D Bonds. The 2004A&B Bonds, 2004C Bonds, and 2007A,B,C&D Bonds were limited to obligations of the Issuer payable solely from and secured by revenues pledged under the Indenture, consisting primarily of loan payments made by the Museum, the Loan Agreement and certain other funds as provided in the Indenture. Payment of principal and interest on the 2004A&B Bonds, 2004C Bonds, and 2007A,B,C&D Bonds when due were insured by the municipal bond insurance policy issued by Financial Guaranty Insurance Company (the "Bond Insurer"). The loan payments were general obligations of the Museum. No specific property was pledged under the Loan Agreement and the payment obligations of the Museum were without recourse to the Museum's art collection. On September 10, 2008, pursuant to an Indenture (the "Indenture") by and between the California Statewide Communities Development Authority (the "Issuer") and US Bank, as trustee (the "Trustee"), the Museum refinanced the 2004 Bonds (Series A, B and C) and 2007 Bonds (Series A, B, C and D) with $383,000,000 of tax-exempt Variable Rate Demand Obligations ("2008 Bonds"). The 2008 Bonds were issued in $100,000 denominations with a variable interest rate that is reset, depending on the series, either weekly or daily. The 2008 Bonds were issued in five series: Series 2008A was issued for $100,000,000, Series 2008B was issued for $100,000,000, Series 2008C was issued for $95,000,000, Series 2008D was issued for $60,000,000 and Series 2008E was issued for $28,000,000. The 2008 bonds are supported by a letter of credit from a consortium of banks fronted by Wells Fargo. The letter of credit has a three-year term which is set to expire in September 2011, but which may be renewed before that date. Interest is charged at a rate of 1.0% on the letter of credit. As of June 30, 2009, there were no amounts borrowed or outstanding on the letter of credit. The Issuer lent the proceeds of the Series 2008 Bonds to the Museum pursuant to a Loan Agreement (the "Loan Agreement") by and between the Issuer and the Museum. Such proceeds received by the Museum were used to (i) redeem all of the Museum's 2004 and 2007 bonds, totaling $376,200,000, (ii) finance capitalized interest on the 2008 Bonds, and (iii) finance costs of issuance of the 2008 Bonds. Under the terms of the Loan Agreement, the Museum is subject to a certain financial covenant, the Adjusted Unrestricted Net Assets to Indebtedness ratio (UNA ratio), which is tested each June 30 and December 31. If the ratio falls below .75, it is an event of default. If the ratio falls below .95 or .85, the Museum is subject to certain requirements by the letter of credit banks and the swap counterparty. As of June 30, 2009, the UNA ratio was .93, which means the letter of credit banks and swap counterparty will require the Museum to deposit the equivalent of one year's interest into an account with the bond trustee. This amount is estimated to be $12,500,000 at June 30, 2009, and the Museum will use unspent bond proceeds to satisfy this requirement. As of June 30, 2009 and 2008, unspent bond proceeds held in trust with the trustee consisted of cash and United States Treasury securities, and are classified as Level 1 inputs under the valuation hierarchy. At June 30, 2009 and 2008, the balances on the unspent bond proceeds of the 2008 Bonds and 2004/2007 Bonds, were as follows: 2009 2008 2008 Bonds $ 103,126,030 $ - 2007 Bonds - 148,160,593 2004 Bonds - - Total revenue bond trust accounts $ 103,126,030 $ 148,160,593 As of June 30, 2009 and 2008, outstanding amounts due on the 2008 Bonds and 2004/2007 Bonds were as follows: 2009 2008 2008 Bonds $ 383,000,000 $ - 2007 Bonds - 200,000,000 2004 Bonds - 176,200,000 Total revenue bonds $ 383,000,000 $ 376,200,000 As of June 30, 2009, the Series 2008 Bond mandatory bond redemption requirements have been summarized as follows: Redemption Date December 1, 2030 $ 35,580,000 2031 35,965,000 2032 36,450,000 2033 75,155,000 2034 76,350,000 2035 39,810,000 2036 41,180,000 2037 42,510,000 Total $ 383,000,000 | |
| FORM 990, PART I, LINE 17 | Other expenses are substantially lower for the year ended June 30, 2010 than for the year ended June 30, 2009 principally due to lower spending to acquire art and a planned reduction in operating budget expenditures to reflect lower anticipated revenues due to the recent downturn in the economy. | |
| FORM 990, PART I, LINE 19 | While revenues less expenses for line 19 is reflected as a deficit of $2,555,767, the audited financial statements reflect a surplus of $7,001,535. As explained in the reconciliation on Schedule D part XI, Form 990 Part I does not include either the $23,166,786 of unrealized investment gains or the unrealized loss on swaps of $13,609,484 that would result in a $7,001,535 surplus for year ened June 30, 2010. | |
| form 990, Part VIII, Line 4: | Not all of the income earned by the museum from investment of tax-exempt bond proceeds is reflected on its income statement. INSTEAD, IT HAS BEEN CAPITALIZED AND NETTED AGAINST HIGHER INTEREST EXPENSE IN CONSTRUCTION IN PROGRESS FOLLOWING GAAP. THE AMOUNT OF CAPITALIZED INCOME EARNED WAS $2,664,544. | |
| 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. | PROCEEDS FROM SALE OF STOCKS |
| FORM 990, PART IX, LINE 8 | The large increase to the actuarial cost of the defined benefit pension plan for the year ended June 30, 2009 reflected the major impact of the decreased market value of pension plan assets due to the market crash in combination with lower interest rates inflating the present value of plan liabilities. The decrease to the actuarial cost of the defined benefit plan for the year ended June 30, 2010 reflected an improvement in the market value of plan assets due to recovering investment values that almost offset the impact of continued declines in interest rates on plan liabilities. | |
| FORM 990, PART X, LINE 25: | The increase in other liabilities is principally tied to an unrealized loss 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. |
Comments