NORTH CAROLINA MUSEUM OF ART FOUNDATION INC: Form 990, tax year 2009

View the entire original 990 at ProPublica ↗

Organization: NORTH CAROLINA MUSEUM OF ART FOUNDATION INC (EIN 23-7071511)
Tax period: 2009-07-01 to 2010-06-30
Filed: 2011-05-12
IRS object ID: 201121329349301712
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 I
Schedule J
Schedule K
Schedule M
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Timestamp	2011-05-12T09:43:36-04:00	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	BATCHELOR TILLERY & ROBERTS LLP	BusinessNameLine1

Preparer Firm US Address PreparerFirmUSAddress

Field	Value	IRS element (for citing)
Address Line1	3605 GLENWOOD AVENUE SUITE 350	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	27612	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	237071511	EIN

Name Name

Field	Value	IRS element (for citing)
Business Name Line1	NORTH CAROLINA MUSEUM OF ART FOUNDATION INC	BusinessNameLine1

Field	Value	IRS element (for citing)
Name Control	NORT	NameControl
Phone	9198396262	Phone

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4630 MAIL SERVICE CENTER	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	276994630	ZIPCode

Officer Officer

Field	Value	IRS element (for citing)
Name	CATERRI M WOODRUM	Name
Title	CHIEF FINANCIAL OFFICER	Title
Date Signed	2011-05-11	DateSigned
Authorize Third Party	true	AuthorizeThirdParty

Preparer Preparer

Field	Value	IRS element (for citing)
Name	RONALD A BATCHELOR	Name
Phone	9197878212	Phone

Field	Value	IRS element (for citing)
Tax Year	2009	TaxYear
Build TS	2016-02-24 21:20:13Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Name Of Principal Officer Person	CATERRI M WOODRUM	NameOfPrincipalOfficerPerson

Address Principal Officer US AddressPrincipalOfficerUS

Field	Value	IRS element (for citing)
Address Line1	2110 BLUE RIDGE ROAD	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	27607	ZIPCode

Field	Value	IRS element (for citing)
Gross Receipts	12560709	GrossReceipts
Group Return For Affiliates	false	GroupReturnForAffiliates
Organization501c	X	Organization501c
Web Site	WWW.NCARTMUSEUM.ORG	WebSite
Type Of Organization Corporation	X	TypeOfOrganizationCorporation
Year Formation	1969	YearFormation
State Legal Domicile	NC	StateLegalDomicile
Activity Or Mission Description	TO FOSTER AND PROMOTE THE GROWTH, PROGRESS AND GENERAL WELFARE OF THE NORTH CAROLINA MUSEUM OF ART.	ActivityOrMissionDescription
Nbr Voting Members Governing Body	27	NbrVotingMembersGoverningBody
Nbr Independent Voting Members	27	NbrIndependentVotingMembers
Total Nbr Employees	127	TotalNbrEmployees
Total Nbr Volunteers	521	TotalNbrVolunteers
Total Gross UBI	0	TotalGrossUBI
Net Unrelated Business Txbl Income	0	NetUnrelatedBusinessTxblIncome
Contributions Grants Prior Year	7787436	ContributionsGrantsPriorYear
Contributions Grants Current Year	9364805	ContributionsGrantsCurrentYear
Program Service Revenue Prior Year	1692702	ProgramServiceRevenuePriorYear
Program Service Revenue CY	1692749	ProgramServiceRevenueCY
Investment Income Prior Year	-296310	InvestmentIncomePriorYear
Investment Income Current Year	640168	InvestmentIncomeCurrentYear
Other Revenue Prior Year	29838	OtherRevenuePriorYear
Other Revenue Current Year	3399	OtherRevenueCurrentYear
Total Revenue Prior Year	9213666	TotalRevenuePriorYear
Total Revenue Current Year	11701121	TotalRevenueCurrentYear
Grants And Similar Amnts Prior Year	4730139	GrantsAndSimilarAmntsPriorYear
Grants And Similar Amnts CY	7671894	GrantsAndSimilarAmntsCY
Benefits Paid To Members Prior Year	0	BenefitsPaidToMembersPriorYear
Benefits Paid To Members CY	0	BenefitsPaidToMembersCY
Salaries Etc Prior Year	4069282	SalariesEtcPriorYear
Salaries Etc Current Year	4084461	SalariesEtcCurrentYear
Total Prof Fundrsng Exp Prior Year	54082	TotalProfFundrsngExpPriorYear
Total Prof Fundrsng Exp CY	56986	TotalProfFundrsngExpCY
Total Fundrsng Exp Current Year	1360601	TotalFundrsngExpCurrentYear
Other Expense Prior Year	5133348	OtherExpensePriorYear
Other Expenses Current Year	4570190	OtherExpensesCurrentYear
Total Expenses Prior Year	13986851	TotalExpensesPriorYear
Total Expenses Current Year	16383531	TotalExpensesCurrentYear
Revenues Less Expenses Prior Year	-4773185	RevenuesLessExpensesPriorYear
Revenues Less Expenses CY	-4682410	RevenuesLessExpensesCY
Total Assets BOY	38238978	TotalAssetsBOY
Total Assets EOY	33366054	TotalAssetsEOY
Total Liabilities BOY	18354924	TotalLiabilitiesBOY
Total Liabilities EOY	16734433	TotalLiabilitiesEOY
Net Assets Or Fund Balances BOY	19884054	NetAssetsOrFundBalancesBOY
Net Assets Or Fund Balances EOY	16631621	NetAssetsOrFundBalancesEOY
Mission Description	THE NORTH CAROLINA MUSEUM OF ART FOUNDATION INC.'S PRIMARY MISSION IS TO FOSTER AND PROMOTE THE GROWTH, PROGRESS, AND GENERAL WELFARE OF THE NORTH CAROLINA MUSEUM OF ART. THE FOUNDATION IS PRIMARILY RESPONSIBLE FOR FUNDRAISING ON BEHALF OF THE MUSEUM AND PROVIDES NEARLY TWO THIRDS OF THE FUNDING REQUIRED TO OPERATE AND PROGRAM THE COMBINED (STATE AND FOUNDATION) ENTITY. IN ADDITION TO BEING THE PRIMARY FUNDRAISING ARM OF THE MUSEUM, THE FOUNDATION ALSO MANAGES A SIGNIFICANT MEMBERSHIP BASE FOR THE MUSEUM, AND OPERATES BOTH A RETAIL SHOP AND A FOOD SERVICE OPERATION FOR THE BENEFIT OF THE MUSEUM'S MEMBERS AND VISITORS.	MissionDescription
Significant New Program Services	false	SignificantNewProgramServices
Significant Change	false	SignificantChange
Expense	8035162	Expense
Grants	7668894	Grants
Revenue	0	Revenue
Description	The North Carolina Museum of Art has recently completed a major expansion initiative, constructing a new 127,000 square foot gallery building to showcase its permanent collection. This innovative new building is surrounded by highly landscaped sculpture gardens and water pools funded entirely from private contributions that were provided as a grant from the North Carolina Museum of Art Foundation to the State of North Carolina. These contributions, largely in the form of pledges receivable, underpin a note and loan agreement with a local lending institution, the proceeds from which were granted by the Foundation to the State during the period to pay the cost of construction of these landscaped areas. Total grants to the State of North Carolina for the year ended June 30, 2010 were $7,668,894.	Description

Activity2 Activity2

Field	Value	IRS element (for citing)
Expense	422095	Expense
Grants	0	Grants
Revenue	0	Revenue
Description	The North Carolina Museum of Art Foundation, Inc. provided additional support to the Museum of Art's expansion project by cultivating donors for commissioned works of art to be installed in and around the new gallery building. All art is gifted by the Foundation to the North Carolina Museum of Art.	Description

Activity3 Activity3

Field	Value	IRS element (for citing)
Expense	4895341	Expense
Grants	3000	Grants
Revenue	1692749	Revenue
Description	The Museum of Art is partially supported by state appropriations that largely fund state staff positions and their related benefits, and a portion of the operating costs of running the Museum. The North Carolina Museum of Art Foundation, Inc. provides the majority of financial support needed for education and curatorial programming of the Museum of Art including support for statewide and museum-based education programming, special traveling art exhibitions, supplemental art conservation funds, and public programming to include summer concerts and a year-round film series.	Description

Field	Value	IRS element (for citing)
Total Program Service Expense	13352598	TotalProgramServiceExpense
Described In501 C3	true	DescribedIn501C3
Schedule B Required	true	ScheduleBRequired
Political Activities	false	PoliticalActivities
Lobbying Activities	true	LobbyingActivities
Donor Advised Funds	false	DonorAdvisedFunds
Conservation Easements	false	ConservationEasements
Collections Of Art	false	CollectionsOfArt
Credit Counseling	false	CreditCounseling
Term Or Permanent Endowments	true	TermOrPermanentEndowments
Balance Sheet Amounts Reported	true	BalanceSheetAmountsReported
Independent Audit Financial Stmt	true	IndependentAuditFinancialStmt
Consolidated Audit Financial Stmt	false	ConsolidatedAuditFinancialStmt
School	false	School
Foreign Office	false	ForeignOffice
Foreign Activities	false	ForeignActivities
More Than5000 K To Organizations	false	MoreThan5000KToOrganizations
More Than5000 K To Individuals	false	MoreThan5000KToIndividuals
Professional Fundraising	true	ProfessionalFundraising
Fundraising Activities	true	FundraisingActivities
Gaming	false	Gaming
Hospital	false	Hospital
Grants To Organizations	true	GrantsToOrganizations
Grants To Individuals	false	GrantsToIndividuals
Schedule J Required	true	ScheduleJRequired
Tax Exempt Bonds	true	TaxExemptBonds
Invest Tax Exempt Bonds	false	InvestTaxExemptBonds
Escrow Account	false	EscrowAccount
On Behalf Of Issuer	false	OnBehalfOfIssuer
Excess Benefit Transaction	false	ExcessBenefitTransaction
Prior Excess Benefit Transaction	false	PriorExcessBenefitTransaction
Loan To Officer Or DQP	false	LoanToOfficerOrDQP
Grant To Related Person	false	GrantToRelatedPerson
Bsnss Rltnshp With Organization	false	BsnssRltnshpWithOrganization
Bsnss Rltnshp Thru Family Member	false	BsnssRltnshpThruFamilyMember
Officer Entity With Bsnss Rltnshp	false	OfficerEntityWithBsnssRltnshp
Deductible Non Cash Contributions	true	DeductibleNonCashContributions
Deductible Contributions Of Art	false	DeductibleContributionsOfArt
Terminated	false	Terminated
Partial Liquidation	false	PartialLiquidation
Disregarded Entity	false	DisregardedEntity
Related Entity	false	RelatedEntity
Related Org Controlled Entity	false	RelatedOrgControlledEntity
Transfers To Exempt Non Chrtbl Org	false	TransfersToExemptNonChrtblOrg
Activities Conducted Partnership	false	ActivitiesConductedPartnership
Schedule O Required	true	ScheduleORequired
Number Forms Transmitted With1096	93	NumberFormsTransmittedWith1096
Number W2 G Included	0	NumberW2GIncluded
Compliance With Backup Witholding	true	ComplianceWithBackupWitholding
Number Of Employees	127	NumberOfEmployees
Employment Tax Returns Filed	true	EmploymentTaxReturnsFiled
Unrelated Business Income	false	UnrelatedBusinessIncome
Foreign Financial Account	false	ForeignFinancialAccount
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTrans
Taxable Party Notification	false	TaxablePartyNotification
Non Deductible Contributions	false	NonDeductibleContributions
Quid Pro Quo Contributions	true	QuidProQuoContributions
Quid Pro Quo Disclosure	true	QuidProQuoDisclosure
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOf
Funds To Pay Premiums	false	FundsToPayPremiums
Premiums Paid	false	PremiumsPaid
Nbr Voting Governing Body Members	27	NbrVotingGoverningBodyMembers
Number Independent Voting Members	27	NumberIndependentVotingMembers
Family Or Business Relationship	false	FamilyOrBusinessRelationship
Delegation Of Management Duties	false	DelegationOfManagementDuties
Changes To Organizing Docs	false	ChangesToOrganizingDocs
Material Diversion Or Misuse	false	MaterialDiversionOrMisuse
Members Or Stockholders	false	MembersOrStockholders
Election Of Board Members	false	ElectionOfBoardMembers
Decisions Subject To Approval	false	DecisionsSubjectToApproval
Minutes Of Governing Body	true	MinutesOfGoverningBody
Minutes Of Committees	true	MinutesOfCommittees
Officer Mailing Address	false	OfficerMailingAddress
Local Chapters	false	LocalChapters
Form990 Provided To Governing Body	true	Form990ProvidedToGoverningBody
Conflict Of Interest Policy	true	ConflictOfInterestPolicy
Annual Disclosure Covered Persons	true	AnnualDisclosureCoveredPersons
Regular Monitoring Enforcement	true	RegularMonitoringEnforcement
Whistleblower Policy	true	WhistleblowerPolicy
Document Retention Policy	true	DocumentRetentionPolicy
Compensation Process CEO	true	CompensationProcessCEO
Compensation Process Other	true	CompensationProcessOther
Investment In Joint Venture	false	InvestmentInJointVenture
Other Website	X	OtherWebsite
Upon Request	X	UponRequest

The Books Are In Care Of TheBooksAreInCareOf

Field	Value	IRS element (for citing)
Name Person	SHARON L FRANK	NamePerson
Telephone Number	9196646840	TelephoneNumber

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	4630 MAIL SERVICE CENTER	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	276994630	ZIPCode

Form990 Part VII Section A Form990PartVIISectionA (32 entries)

TitleTitle	Average Hours Per WeekAverageHoursPerWeek	Individual Trustee Or DirectorIndividualTrusteeOrDirector	OfficerOfficer	Reportable Comp From OrganizationReportableCompFromOrganization	Reportable Comp From Related OrgsReportableCompFromRelatedOrgs	Other CompensationOtherCompensation	Highest Compensated EmployeeHighestCompensatedEmployee
LAWRENCE J WHEELER
MUSEUM DIRECTOR	55.0	X	X	26661	298976	29066
CATERRI M WOODRUM
CHIEF DEPUTY DIRECTOR & CFO	65.0	X	X	197780	0	24075
R PAXTON BADHAM JR
TREASURER	1.0	X	X	0	0	0
JEFFREY T BARBER
BOARD DIRECTOR	1.0	X		0	0	0
STACEY M YUSKO
BOARD DIRECTOR	1.0	X		0	0	0
JOSEPHINE R DARDEN
BOARD DIRECTOR	1.0	X		0	0	0
CLAY R DUNNAGAN
BOARD DIRECTOR	1.0	X		0	0	0
H SPENCER EVERETT JR
BOARD DIRECTOR	1.0	X		0	0	0
PHILIP G FREELON
BOARD DIRECTOR	1.0	X		0	0	0
RODNEY E GADDY
BOARD DIRECTOR	1.0	X		0	0	0
JOAN H GILLINGS
BOARD DIRECTOR	1.0	X		0	0	0
THOMAS GIPSON
BOARD DIRECTOR	1.0	X		0	0	0
WILLIAM T HOBBS II
BOARD DIRECTOR	1.0	X		0	0	0
JOHN J JENKINS
BOARD DIRECTOR	1.0	X		0	0	0
JAMES Y KERR II
BOARD DIRECTOR	1.0	X		0	0	0
JOSEPH BC KLUTTZ
PRESIDENT	1.0	X	X	0	0	0
BARRY M LEFFLER
BOARD DIRECTOR	1.0	X		0	0	0
HARRIET B LONG
BOARD DIRECTOR	1.0	X		0	0	0
SUZANNE R MCKINNEY
BOARD DIRECTOR	1.0	X		0	0	0
MARC D OKEN
BOARD DIRECTOR	1.0	X		0	0	0
L RICHARDSON PREYER JR
SECRETARY	1.0	X	X	0	0	0
GRACE I ROBBINS
BOARD DIRECTOR	1.0	X		0	0	0
CHRISTY L SHAFFER
BOARD DIRECTOR	1.0	X		0	0	0
FRANK J TURNER
BOARD DIRECTOR	1.0	X		0	0	0
J ROBERT TYLER III
BOARD DIRECTOR	1.0	X		0	0	0
CHRISTOPHER R WEBSTER JR
BOARD DIRECTOR	1.0	X		0	0	0
MASON L WILLIAMS
VICE-PRESIDENT	1.0	X	X	0	0	0
ROSEMARY WYCHE
BOARD DIRECTOR	1.0	X		0	0	0
KIM D SAUNDERS
BOARD DIRECTOR	1.0	X		0	0	0
ELLEN D STONE
DIRECTOR DEVELOP. & MEMBERSHIP	40.0			139112	0	22436	X
DANIEL P GOTTLIEB
DIRECTOR - PLANNING & DESIGN	40.0			132637	0	26853	X
KATHRYN F YANDELL
MAJOR GIFTS OFFICER/CAMPGN DIR	40.0			108786	0	14882	X

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	604976	TotalReportableCompFromOrg
Total Reportable Comp Frm Rltd Orgs	298976	TotalReportableCompFrmRltdOrgs
Total Other Compensation	117312	TotalOtherCompensation
Number Individuals GT100 K	4	NumberIndividualsGT100K
Formers Listed	false	FormersListed
Total Comp GT150 K	true	TotalCompGT150K
Compensation From Other Sources	false	CompensationFromOtherSources
Number Of Contractors GT100 K	0	NumberOfContractorsGT100K
Membership Dues	1081674	MembershipDues
Fundraising Events	9630	FundraisingEvents
Government Grants	1056296	GovernmentGrants
All Other Contributions	7217205	AllOtherContributions
Noncash Contributions	599977	NoncashContributions
Total Contributions	9364805	TotalContributions

Program Service Revenue ProgramServiceRevenue (4 entries)

DescriptionDescription	Business CodeBusinessCode	Total Revenue ColumnTotalRevenueColumn	Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome	ExclusionExclusionAmount
PROGRAM FEES	900099	817674	817674
MUSEUM SHOP SALES	453220	281546	281546
CAFE SALES	722100	575711		$575,711
OTHER OPERATING REVENUE	900099	17818		$17,818

Field	Value	IRS element (for citing)
Total Program Service Revenue	1692749	TotalProgramServiceRevenue

Investment Income InvestmentIncome

Field	Value	IRS element (for citing)
Total Revenue Column	491259	TotalRevenueColumn
Exclusion	$491,259	ExclusionAmount

Income From Invest Bond Proceeds IncomeFromInvestBondProceeds

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Royalties Revenue RoyaltiesRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	3367	TotalRevenueColumn
Exclusion	$3,367	ExclusionAmount

Gross Amount Sales Assets GrossAmountSalesAssets

Field	Value	IRS element (for citing)
Securities	962729	Securities

Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses

Field	Value	IRS element (for citing)
Securities	813820	Securities

Gain Or Loss GainOrLoss

Field	Value	IRS element (for citing)
Securities	148909	Securities

Net Gain Or Loss Investments NetGainOrLossInvestments

Field	Value	IRS element (for citing)
Total Revenue Column	148909	TotalRevenueColumn
Exclusion	$148,909	ExclusionAmount

Field	Value	IRS element (for citing)
Gross Income Fundraising Events	45800	GrossIncomeFundraisingEvents
Cntrbtns Rprtd Fundraising Events	9630	CntrbtnsRprtdFundraisingEvents
Fundraising Direct Expenses	45768	FundraisingDirectExpenses

Net Income From Fundraising Events NetIncomeFromFundraisingEvents

Field	Value	IRS element (for citing)
Total Revenue Column	32	TotalRevenueColumn

Net Income From Gaming NetIncomeFromGaming

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Net Income Or Loss NetIncomeOrLoss

Field	Value	IRS element (for citing)
Total Revenue Column	0	TotalRevenueColumn

Field	Value	IRS element (for citing)
Total Other Revenue	0	TotalOtherRevenue

Total Revenue TotalRevenue

Field	Value	IRS element (for citing)
Total Revenue Column	11701121	TotalRevenueColumn
Related Or Exempt Function Income	1099220	RelatedOrExemptFunctionIncome
Exclusion	$1,237,064	ExclusionAmount

Grants To Domestic Orgs GrantsToDomesticOrgs

Field	Value	IRS element (for citing)
Total	7671894	Total
Program Services	7671894	ProgramServices

Grants To Domestic Individuals GrantsToDomesticIndividuals

Field	Value	IRS element (for citing)
Total	0	Total

Foreign Grants ForeignGrants

Field	Value	IRS element (for citing)
Total	0	Total

Benefits To Members BenefitsToMembers

Field	Value	IRS element (for citing)
Total	0	Total

Comp Current Officers Directors CompCurrentOfficersDirectors

Field	Value	IRS element (for citing)
Total	441309	Total
Program Services	99169	ProgramServices
Management And General	188434	ManagementAndGeneral
Fundraising	153706	Fundraising

Comp Disqual Persons CompDisqualPersons

Field	Value	IRS element (for citing)
Total	0	Total

Other Salaries And Wages OtherSalariesAndWages

Field	Value	IRS element (for citing)
Total	2984267	Total
Program Services	1509963	ProgramServices
Management And General	798093	ManagementAndGeneral
Fundraising	676211	Fundraising

Pension Plan Contributions PensionPlanContributions

Field	Value	IRS element (for citing)
Total	143025	Total
Program Services	76871	ProgramServices
Management And General	12652	ManagementAndGeneral
Fundraising	53502	Fundraising

Other Employee Benefits OtherEmployeeBenefits

Field	Value	IRS element (for citing)
Total	303240	Total
Program Services	167895	ProgramServices
Management And General	61070	ManagementAndGeneral
Fundraising	74275	Fundraising

Payroll Taxes PayrollTaxes

Field	Value	IRS element (for citing)
Total	212620	Total
Program Services	116739	ProgramServices
Management And General	46688	ManagementAndGeneral
Fundraising	49193	Fundraising

Fees For Services Management FeesForServicesManagement

Field	Value	IRS element (for citing)
Total	0	Total

Fees For Services Legal FeesForServicesLegal

Field	Value	IRS element (for citing)
Total	44325	Total
Program Services	175	ProgramServices
Management And General	44150	ManagementAndGeneral

Fees For Services Accounting FeesForServicesAccounting

Field	Value	IRS element (for citing)
Total	29500	Total
Management And General	29500	ManagementAndGeneral

Fees For Services Lobbying FeesForServicesLobbying

Field	Value	IRS element (for citing)
Total	90400	Total
Management And General	90400	ManagementAndGeneral

Fees For Services Prof Fundraising FeesForServicesProfFundraising

Field	Value	IRS element (for citing)
Total	56986	Total
Fundraising	56986	Fundraising

Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees

Field	Value	IRS element (for citing)
Total	48164	Total
Program Services	41620	ProgramServices
Management And General	6544	ManagementAndGeneral

Fees For Services Other FeesForServicesOther

Field	Value	IRS element (for citing)
Total	525200	Total
Program Services	441341	ProgramServices
Management And General	47535	ManagementAndGeneral
Fundraising	36324	Fundraising

Advertising Advertising

Field	Value	IRS element (for citing)
Total	114726	Total
Program Services	110896	ProgramServices
Management And General	3830	ManagementAndGeneral

Office Expenses OfficeExpenses

Field	Value	IRS element (for citing)
Total	1465420	Total
Program Services	1219666	ProgramServices
Management And General	82665	ManagementAndGeneral
Fundraising	163089	Fundraising

Information Technology InformationTechnology

Field	Value	IRS element (for citing)
Total	51476	Total
Program Services	69015	ProgramServices
Management And General	-28975	ManagementAndGeneral
Fundraising	11436	Fundraising

Royalties Royalties

Field	Value	IRS element (for citing)
Total	0	Total

Occupancy Occupancy

Field	Value	IRS element (for citing)
Total	126121	Total
Program Services	83339	ProgramServices
Management And General	42782	ManagementAndGeneral

Travel Travel

Field	Value	IRS element (for citing)
Total	73960	Total
Program Services	26002	ProgramServices
Management And General	12214	ManagementAndGeneral
Fundraising	35744	Fundraising

Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials

Field	Value	IRS element (for citing)
Total	0	Total

Conferences Meetings ConferencesMeetings

Field	Value	IRS element (for citing)
Total	272528	Total
Program Services	185617	ProgramServices
Management And General	40956	ManagementAndGeneral
Fundraising	45955	Fundraising

Interest Interest

Field	Value	IRS element (for citing)
Total	376785	Total
Program Services	312746	ProgramServices
Management And General	64039	ManagementAndGeneral

Payments To Affiliates PaymentsToAffiliates

Field	Value	IRS element (for citing)
Total	0	Total

Depreciation Depletion DepreciationDepletion

Field	Value	IRS element (for citing)
Total	35543	Total
Program Services	10364	ProgramServices
Management And General	25179	ManagementAndGeneral

Insurance Insurance

Field	Value	IRS element (for citing)
Total	35378	Total
Program Services	8845	ProgramServices
Management And General	26533	ManagementAndGeneral

Other Expenses OtherExpenses (5 entries)

DescriptionDescription	TotalTotal	Program ServicesProgramServices	Management And GeneralManagementAndGeneral	FundraisingFundraising
ART PURCHASES	423845	422095	1750
PRODUCTION EXPENSES	364746	317589	43675	3482
LECTURE, WORKSHOP & ARTISTS	319316	310671	8405	240
EXHIBITION VENUE FEES	83500	83500
OTHER EXPENSES	89257	66586	22213	458

Total Functional Expenses TotalFunctionalExpenses

Field	Value	IRS element (for citing)
Total	16383531	Total
Program Services	13352598	ProgramServices
Management And General	1670332	ManagementAndGeneral
Fundraising	1360601	Fundraising

Cash Non Interest Bearing CashNonInterestBearing

Field	Value	IRS element (for citing)
BOY	12726944	BOY
EOY	4492580	EOY

Savings And Temp Cash Investments SavingsAndTempCashInvestments

Field	Value	IRS element (for citing)
BOY	930854	BOY
EOY	704910	EOY

Pledges And Grants Receivable PledgesAndGrantsReceivable

Field	Value	IRS element (for citing)
BOY	5312637	BOY
EOY	5411050	EOY

Accounts Receivable AccountsReceivable

Field	Value	IRS element (for citing)
BOY	1062053	BOY
EOY	1041404	EOY

Inventories For Sale Or Use InventoriesForSaleOrUse

Field	Value	IRS element (for citing)
BOY	119376	BOY
EOY	252894	EOY

Field	Value	IRS element (for citing)
Land Buildings Equipment Basis	528313	LandBuildingsEquipmentBasis
Land Bldg Equipment Accum Deprec	419742	LandBldgEquipmentAccumDeprec

Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet

Field	Value	IRS element (for citing)
BOY	64073	BOY
EOY	108571	EOY

Investments Pub Traded Securities InvestmentsPubTradedSecurities

Field	Value	IRS element (for citing)
BOY	11807991	BOY
EOY	15929027	EOY

Other Assets Total OtherAssetsTotal

Field	Value	IRS element (for citing)
BOY	6215050	BOY
EOY	5425618	EOY

Total Assets TotalAssets

Field	Value	IRS element (for citing)
BOY	38238978	BOY
EOY	33366054	EOY

Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses

Field	Value	IRS element (for citing)
BOY	7949301	BOY
EOY	8032584	EOY

Tax Exempt Bond Liabilities TaxExemptBondLiabilities

Field	Value	IRS element (for citing)
BOY	6876373	BOY
EOY	6172599	EOY

Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp

Field	Value	IRS element (for citing)
BOY	3529250	BOY
EOY	2529250	EOY

Total Liabilities TotalLiabilities

Field	Value	IRS element (for citing)
BOY	18354924	BOY
EOY	16734433	EOY

Field	Value	IRS element (for citing)
Follow SFAS117	X	FollowSFAS117

Unrestricted Net Assets UnrestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	-1207069	BOY
EOY	94536	EOY

Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	4842162	BOY
EOY	-47140	EOY

Permanently Restricted Net Assets PermanentlyRestrictedNetAssets

Field	Value	IRS element (for citing)
BOY	16248961	BOY
EOY	16584225	EOY

Total Net Assets Fund Balances TotalNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	19884054	BOY
EOY	16631621	EOY

Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances

Field	Value	IRS element (for citing)
BOY	38238978	BOY
EOY	33366054	EOY

Field	Value	IRS element (for citing)
Method Of Accounting Accrual	X	MethodOfAccountingAccrual
Accountant Compile Or Review	false	AccountantCompileOrReview
FS Audited	true	FSAudited
Audit Committee	true	AuditCommittee
Financial Statement Separate	X	FinancialStatementSeparate
Federal Grant Audit Required	false	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	3140510	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	14815436	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	7218777	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	6870773	CurrentTaxYearMinus1Year
Current Tax Year	8364809	CurrentTaxYear
Total	40410305	Total

Tax Rev Levied For Org Benefit170 TaxRevLeviedForOrgBenefit170

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	6000000	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	916663	CurrentTaxYearMinus1Year
Current Tax Year	999996	CurrentTaxYear
Total	7916659	Total

Total170 Total170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	3140510	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	14815436	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	13218777	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	7787436	CurrentTaxYearMinus1Year
Current Tax Year	9364805	CurrentTaxYear
Total	48326964	Total

Field	Value	IRS element (for citing)
Amounts Subst Contributors Total	5555516	AmountsSubstContributorsTotal
Public Support Total170	42771448	PublicSupportTotal170

Gross Investment Income170 GrossInvestmentIncome170

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	294355	CurrentTaxYearMinus4Years
Current Tax Year Minus3 Years	600007	CurrentTaxYearMinus3Years
Current Tax Year Minus2 Years	815333	CurrentTaxYearMinus2Years
Current Tax Year Minus1 Year	539589	CurrentTaxYearMinus1Year
Current Tax Year	494626	CurrentTaxYear
Total	2743910	Total

Field	Value	IRS element (for citing)
Total Support	51070874	TotalSupport
Gross Receipts From Admissions Etc	16582531	GrossReceiptsFromAdmissionsEtc
Public Support Pertcentage170	0.83749	PublicSupportPertcentage170
Public Support Pertcent Prior Year	0.87174	PublicSupportPertcentPriorYear
Thirty Three Percnt Tests CY170	X	ThirtyThreePercntTestsCY170

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

Field	Value	IRS element (for citing)
Total Grassroots Lobbying		TotalGrassrootsLobbying
Total Direct Lobbying		TotalDirectLobbying
Total Lobbying Expenditures		TotalLobbyingExpenditures
Other Exempt Purpose Expenditures		OtherExemptPurposeExpenditures
Total Exempt Purpose Expenditures		TotalExemptPurposeExpenditures
Lobbying Nontaxable		LobbyingNontaxableAmount
Grassroots Nontaxable		GrassrootsNontaxableAmount
Tot Lobbying Grassroot Minus Non Tx		TotLobbyingGrassrootMinusNonTx
Tot Lobby Expend Mns Lobbying Nontx		TotLobbyExpendMnsLobbyingNontx
Volunteers	false	Volunteers
Paid Staff Or Management	false	PaidStaffOrManagement
Media Advertisements	false	MediaAdvertisements
Mailings Members	false	MailingsMembers
Publications Or Broadcast	false	PublicationsOrBroadcast
Grants Other Organizations	false	GrantsOtherOrganizations
Direct Contact Legislators	true	DirectContactLegislators
Direct Contact Legislators	$90,400	DirectContactLegislatorsAmount
Rallies Demonstrations	false	RalliesDemonstrations
Other Activities	false	OtherActivities
Total Lobbying Expenditures IIB	90400	TotalLobbyingExpendituresIIB

Form990 Schedule C Part IV Form990ScheduleCPartIV

Field	Value	IRS element (for citing)
Identifier	LOBBYING ACTIVITY EXPLANATION	Identifier
Return Reference	SCHEDULE C, PART II-B, LINE 1G	ReturnReference
Explanation	DURING THE FISCAL YEAR ENDED 6/30/2010 $30,000 WAS PAID TO THE LAW FIRM OF SZD WICKER LPA, AND $60,400 TO THE LAW FIRM OF NELSON MULLINS RILEY & SCARBOROUGH LLP FOR LOBBYING ASSISTANCE IN SEEKING ADDITIONAL STATE SUPPORT FOR THE NORTH CAROLINA MUSEUM OF ART. ACTIVITIES INCLUDED MEETING WITH AND CONTACTING GOVERNMENT OFFICIALS AND LEGISLATORS.	Explanation

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Art Public Exhibition Amts		ArtPublicExhibitionAmts
Held Works Of Art Amts		HeldWorksOfArtAmts

Current Year CurrentYear

Field	Value	IRS element (for citing)
Beginning Of Year Balance	12259509	BeginningOfYearBalance
Contributions	1972244	Contributions
Investment Earnings Or Losses	1956205	InvestmentEarningsOrLosses
Administrative Expenses	47205	AdministrativeExpenses
End Of Year Balance	16140753	EndOfYearBalance

Current Year Minus1 Year CurrentYearMinus1Year

Field	Value	IRS element (for citing)
Beginning Of Year Balance	15625396	BeginningOfYearBalance
Investment Earnings Or Losses	-3328967	InvestmentEarningsOrLosses
Administrative Expenses	36920	AdministrativeExpenses
End Of Year Balance	12259509	EndOfYearBalance

Field	Value	IRS element (for citing)
Board Designated EOY Balance	0.00000	BoardDesignatedEOYBalance
Permanent Endowment EOY Balance	0.88130	PermanentEndowmentEOYBalance
Term Endowment EOY Balance	0.11870	TermEndowmentEOYBalance
Endowments Held By Unrelated Orgs	false	EndowmentsHeldByUnrelatedOrgs
Endowments Held By Related Orgs	false	EndowmentsHeldByRelatedOrgs
Land		Land
Buildings		Buildings
Leasehold Improvements		LeaseholdImprovements

Equipment Equipment

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	528313	OtherCostOrOtherBasis
Depreciation	419742	Depreciation
Book Value	108571	BookValue

Field	Value	IRS element (for citing)
Other Land Buildings		OtherLandBuildings
Total Of Book Value Land Buildings	108571	TotalOfBookValueLandBuildings

Other Assets OtherAssets (6 entries)

DescriptionDescription	Book ValueBookValue
PREPAID EXPENSES	0
CSV OF KEY-MAN LIFE INSURANCE	60958
DEPOSITS	6249
BOND ISSUANCE COSTS, NET	38596
PREPAID LOAN ISSUANCE COSTS	9555
LONG TERM RECEIVABLE	5310260

Field	Value	IRS element (for citing)
Total Book Value Other Assets	5425618	TotalBookValueOtherAssets
Total Revenue	11701121	TotalRevenue
Total Expenses	16383531	TotalExpenses
Excess Or Deficit For Year	-4682410	ExcessOrDeficitForYear
Net Unrealized GL On Investments	1429977	NetUnrealizedGLOnInvestments
Total Adjustments	1429977	TotalAdjustments
Excess Or Deficit Per FS	-3252433	ExcessOrDeficitPerFS
Tot Revenue Etc Audited Fincl Stmt	13530859	TotRevenueEtcAuditedFinclStmt
Net Unrealized Gains Investments	1429977	NetUnrealizedGainsInvestments
Donated Srvc And Use Of Facilities	353993	DonatedSrvcAndUseOfFacilities
Other Revenues	45768	OtherRevenues
Revenue Not Rptd F990	1829738	RevenueNotRptdF990
Revenue Subtotal	11701121	RevenueSubtotal
Total Revenue Per Form990	11701121	TotalRevenuePerForm990
Tot Expenses Etc Audited Fincl Stmt	16783292	TotExpensesEtcAuditedFinclStmt
Donated Services Use Of Facilities	353993	DonatedServicesUseOfFacilities
Other Expenses Included	45768	OtherExpensesIncluded
Expenses Not Rptd F990	399761	ExpensesNotRptdF990
Expenses Subtotal	16383531	ExpensesSubtotal
Total Expenses Per Form990	16383531	TotalExpensesPerForm990

Form990 Schedule D Part XIV Form990ScheduleDPartXIV (3 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
INTENDED USES OF ENDOWMENT FUNDS	SCHEDULE D, PART V, LINE 4	The Foundation has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment. The investment policy was developed with the long-term interests of the endowment in mind and adheres to accepted investment and financial management principles. The investment policy is designed to ensure prudent management of the assets in order to serve the best long-term interests of the Foundation. The Foundation expects its endowment funds, over time, to provide a total real rate of return of 5%, net of fees, over a three-year rolling average. Actual returns in any given year may vary from this amount.
RECONCILIATION OF REVENUE - OTHER DIFFERENCES	SCHEDULE D, PART XII, LINE 2D	$ 45,768 SPECIAL EVENTS EXPENSES INCLUDED IN FINANCIAL STATEMENT EXPENSES
RECONCILIATION OF EXPENSES - OTHER DIFFERENCES	SCHEDULE D, PART XIII, LINE 2D	$ 45,768 SPECIAL EVENTS EXPENSES INCLUDED IN FINANCIAL STATEMENT EXPENSES

Schedule G IRS990ScheduleG

Field	Value	IRS element (for citing)
Mail Solicitations	X	MailSolicitations
Email Solicitations	X	EmailSolicitations
Phone Solicitations	X	PhoneSolicitations
In Person Solicitations	X	InPersonSolicitations
Solicitation Of Non Govt Grants	X	SolicitationOfNonGovtGrants
Solicitation Of Govt Grants	X	SolicitationOfGovtGrants
Special Fundraising Events	X	SpecialFundraisingEvents
Agreement Ref Fundraising	true	AgreementRefFundraising

Fundraiser Activity Information FundraiserActivityInformation

Field	Value	IRS element (for citing)
Name Of Individual	CAROL O'BRIEN ASSOCIATES	NameOfIndividual
Activity	CAP CAMPGN CONSULTING	Activity
Fundraiser Control Of Funds	false	FundraiserControlOfFunds
Net To Organization	56986	NetToOrganization

Field	Value	IRS element (for citing)
Total Net To Organization	56986	TotalNetToOrganization
Licensed States	NC	LicensedStates

Events Information EventsInformation

Field	Value	IRS element (for citing)
Name Of Event1	MIDNIGHT MENAG	NameOfEvent1
Gross Receipts Event1	14061	GrossReceiptsEvent1
Gross Revenue Event1	14061	GrossRevenueEvent1
Food And Beverage Event1	3817	FoodAndBeverageEvent1
Other Direct Expenses Event1	3790	OtherDirectExpensesEvent1
Name Of Event2	WINTRY MIXER	NameOfEvent2
Gross Receipts Event2	11368	GrossReceiptsEvent2
Charitable Contributions Event2	8600	CharitableContributionsEvent2
Gross Revenue Event2	2768	GrossRevenueEvent2
Food And Beverage Event2	4878	FoodAndBeverageEvent2
Other Direct Expenses Event2	2668	OtherDirectExpensesEvent2
Total Number Of Other Events	3	TotalNumberOfOtherEvents
Gross Receipts Other Events	19960	GrossReceiptsOtherEvents
Charitable Contrib Other Events	1000	CharitableContribOtherEvents
Gross Revenue Other Events	18960	GrossRevenueOtherEvents
Food And Beverage Other Events	5240	FoodAndBeverageOtherEvents
Other Direct Expenses Other Events	7221	OtherDirectExpensesOtherEvents
Gross Receipts Total	45389	GrossReceiptsTotal
Charitable Contributions Total	9600	CharitableContributionsTotal
Gross Revenue Total Events	35789	GrossRevenueTotalEvents
Food And Beverage Total Events	13935	FoodAndBeverageTotalEvents
Other Direct Expenses Total Events	13679	OtherDirectExpensesTotalEvents
Direct Expense Summary Events	27614	DirectExpenseSummaryEvents
Net Income Summary	8175	NetIncomeSummary

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Records Maintained	true	RecordsMaintained

Recipient Table RecipientTable

Recipient Name Business RecipientNameBusiness

Field	Value	IRS element (for citing)
Business Name Line1	STATE OF NO CAROLINA DEPT CULTURAL RESOURCES	BusinessNameLine1

Address US AddressUS

Field	Value	IRS element (for citing)
Address Line1	109 EAST JONES STREET	AddressLine1
City	RALEIGH	City
State	NC	State
ZIP Code	276994601	ZIPCode

Field	Value	IRS element (for citing)
IRC Section	NC GOVERNMENT	IRCSection
Amount Of Cash Grant	7668894	AmountOfCashGrant
Purpose Of Grant	INVESTMENT FOR THE BENEFIT OF THE MUSEUM EXPANSION PROJECT UNTIL SUCH FUNDS ARE REQUIRED TO PAY CONSTRUCTION COSTS.	PurposeOfGrant

Field	Value	IRS element (for citing)
Total Nbr Of501 C3 And Govt Grants	1	TotalNbrOf501C3AndGovtGrants
Total Nbr Of Other Organizations	0	TotalNbrOfOtherOrganizations

Form990 Schedule I Part IV Form990ScheduleIPartIV

Field	Value	IRS element (for citing)
Identifier	MONITORING USE OF GRANT FUNDS	Identifier
Return Reference	SCHEDULE I, PART I	ReturnReference
Explanation	The Foundation entered into a grant agreement with the State of North Carolina dated September 26, 2008. The purpose of the grant agreement is to provide the state with donated funds for the exclusive use in the Museum's expansion project for landscaping. During the period ended June 30, 2010, the Foundation provided the State of North Carolina grants of $7,668,894 in support of the project.	Explanation

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Compensation Committee	X	CompensationCommittee
Written Employment Contract	X	WrittenEmploymentContract
Compensation Survey	X	CompensationSurvey
Board Or Committee Approval	X	BoardOrCommitteeApproval
Severance Payment	false	SeverancePayment
Supplemental Nonqual Retire Plan	false	SupplementalNonqualRetirePlan
Equity Based Comp Arrangement	false	EquityBasedCompArrangement
Comp Based On Revenue Of Filing Org	false	CompBasedOnRevenueOfFilingOrg
Comp Based On Revenue Related Orgs	false	CompBasedOnRevenueRelatedOrgs
Comp Based Net Earnings Filing Org	false	CompBasedNetEarningsFilingOrg
Comp Based Net Earnings Relate Orgs	false	CompBasedNetEarningsRelateOrgs
Any Non Fixed Payments	false	AnyNonFixedPayments
Initial Contract Exception	false	InitialContractException

Form990 Schedule J Part II Form990ScheduleJPartII (4 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 Related OrgsCompReportPrior990RelatedOrgs	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg
LAWRENCE J WHEELER
0	293061	11440	0	15221	5915	14487	10237	0	4342	41148	313555	0
CATERRI M WOODRUM
197600	0	0	0	180	0	16000	0	9216	0	222996	0	0	0
ELLEN D STONE
138596	0	0	0	516	0	11508	0	12069	0	162689	0	0	0
DANIEL P GOTTLIEB
132121	0	0	0	516	0	11200	0	16794	0	160631	0	0	0

Form990 Schedule J Part III Form990ScheduleJPartIII

Field	Value	IRS element (for citing)
Identifier	COMPENSATION INFORMATION	Identifier
Return Reference	SCHEDULE J, PART II	ReturnReference
Explanation	Dr. Lawrence J. Wheeler is the Director of the North Carolina Museum of Art, a state entity organized under the Department of Cultural Resources. The North Carolina Museum of Art Foundation, Inc. is a non-profit organization in support of the State Museum. Given the common goals of these two organizations, Dr. Wheeler exercises significant influence relative to both entities and his primary compensation through the State of North Carolina is supplemented significantly by the North Carolina Museum of Art Foundation, Inc. In addition to salary supplement, the Foundation entered into a five year consulting agreement with Dr. Wheeler on May 1, 2005. Under the agreement Dr. Wheeler receives an annual consulting fee and certain discretionary bonus payments at the discretion of the Foundation Board and Dr. Wheeler agrees to lend his expertise to the Foundation in various fundraising initiatives, particularly as it relates to the cultivation and solicitation of collectors and donors. The initial term of the agreement continued through April 30, 2010. On July 1, 2010 the Foundation entered into a revised five year consulting agreement with Dr. Wheeler, the terms of which are largely consistent with the previous agreement, except that Dr. Wheeler will receive an annual retention payment payable at the end of each fiscal period in which he remains in active service at the Museum.	Explanation

Schedule K IRS990ScheduleK

Form990 Schedule K Part I Form990ScheduleKPartI

Issuer Name IssuerName

Field	Value	IRS element (for citing)
Business Name Line1	WAKE CO INDUSTR FACIL & POLLUT CONTROL FINAN AUTH	BusinessNameLine1

Field	Value	IRS element (for citing)
Issuer EIN	561352483	IssuerEIN
Date Issued	2008-01-24	DateIssued
Issue Price	7176605	IssuePrice
Description Of Purpose	NC MUSEUM OF ART EXPANSION PROJECT	DescriptionOfPurpose
Defeased	false	Defeased
On Behalf Of Issuer	false	OnBehalfOfIssuer

Form990 Schedule K Part II Form990ScheduleKPartII

Field	Value	IRS element (for citing)
Total Proceeds	7176605	TotalProceeds
Issuance Costs From Proceeds	50000	IssuanceCostsFromProceeds
Capital Expenditures	7126605	CapitalExpenditures
Year Of Subst Completion	2010	YearOfSubstCompletion
Current Refunding	false	CurrentRefunding
Advance Refunding	false	AdvanceRefunding
Final Allocation Made	true	FinalAllocationMade
Adequate Books And Recds Maintaind	true	AdequateBooksAndRecdsMaintaind

Form990 Schedule K Part III Form990ScheduleKPartIII

Field	Value	IRS element (for citing)
Owning Bond Financed Property	false	OwningBondFinancedProperty
Any Lease Arrangements	false	AnyLeaseArrangements
Mngment Cntrct Bond Financd Prprty	false	MngmentCntrctBondFinancdPrprty
Any Research Agreements	false	AnyResearchAgreements
Bond Counsel Routinely Engaged	false	BondCounselRoutinelyEngaged

Form990 Schedule K Part IV Form990ScheduleKPartIV

Field	Value	IRS element (for citing)
Form8038 T Filed	false	Form8038TFiled
Variable Rate Issue	false	VariableRateIssue
Hedge Identified In Books And Recds	false	HedgeIdentifiedInBooksAndRecds
Gross Proceeds Invested In GIC	false	GrossProceedsInvestedInGIC
Gross Proceeds Invested	false	GrossProceedsInvested
Exception To Rebate	false	ExceptionToRebate

Schedule M IRS990ScheduleM

Works Of Art WorksOfArt

Field	Value	IRS element (for citing)
Non Cash Checkbox	X	NonCashCheckbox
Number Of Contributions	1	NumberOfContributions
Noncash Contribs Rptd F990	25000	NoncashContribsRptdF990
Method Of Determining Revenues	DONOR DETERMINED FMV	MethodOfDeterminingRevenues

Field	Value	IRS element (for citing)
Art Historical Treasures		ArtHistoricalTreasures
Art Fractional Interest		ArtFractionalInterest
Books And Publications		BooksAndPublications
Clothing And Household Goods		ClothingAndHouseholdGoods
Cars And Other Vehicles		CarsAndOtherVehicles
Boats And Planes		BoatsAndPlanes
Intellectual Property		IntellectualProperty

Securities Publicly Traded SecuritiesPubliclyTraded

Field	Value	IRS element (for citing)
Non Cash Checkbox	X	NonCashCheckbox
Number Of Contributions	20	NumberOfContributions
Noncash Contribs Rptd F990	479930	NoncashContribsRptdF990
Method Of Determining Revenues	STOCK QUOTE	MethodOfDeterminingRevenues

Field	Value	IRS element (for citing)
Securities Closely Held Stock		SecuritiesCloselyHeldStock
Securities Prtnrshp Trust Intrsts		SecuritiesPrtnrshpTrustIntrsts
Securities Miscellaneous		SecuritiesMiscellaneous
Qualified Contrib Hist Struct		QualifiedContribHistStruct
Qualified Contrib Other		QualifiedContribOther
Real Estate Residential		RealEstateResidential
Real Estate Commercial		RealEstateCommercial
Real Estate Other		RealEstateOther
Collectibles		Collectibles
Food Inventory		FoodInventory
Drugs And Medical Supplies		DrugsAndMedicalSupplies
Taxidermy		Taxidermy
Historical Artifacts		HistoricalArtifacts
Scientific Specimens		ScientificSpecimens
Archaeological Artifacts		ArchaeologicalArtifacts

Other Non Cash Contributions Table OtherNonCashContributionsTable (2 entries)

Non Cash CheckboxNonCashCheckbox	DescriptionDescription	Number Of ContributionsNumberOfContributions	Noncash Contribs Rptd F990NoncashContribsRptdF990	Method Of Determining RevenuesMethodOfDeterminingRevenues
X	EQUIPMENT	2	65800	FAIR MARKET VALUE
X	SUPPLIES	4	18939	FAIR MARKET VALUE

Field	Value	IRS element (for citing)
Any Property That Must Be Held	false	AnyPropertyThatMustBeHeld
Review Process Unusual NC Gifts	true	ReviewProcessUnusualNCGifts
Third Parties Used	false	ThirdPartiesUsed

Schedule O IRS990ScheduleO

General Explanation GeneralExplanation (4 entries)

IdentifierIdentifier	Return ReferenceReturnReference	ExplanationExplanation
FORM 990 REVIEW PROCESS	FORM 990, PART VI - SECTION B, LINE 11A	The NCMA Foundation's governance includes an Audit Committee operating under a formal charter. The Audit Committee serves as an independent and objective party to monitor the Foundation's financial and compliance reporting process including oversight of the 990 tax filing as well as its internal control system. The Audit Committee meets with external auditors and Foundation management to review the results of the annual audit and related financial statements and reviews the full 990 tax filing prior to its submission. The 990 is also reviewed by chief legal counsel.
MONITORING CONFLICTS OF INTEREST	FORM 990, PART VI - SECTION B, LINE 12C	The Audit Committee also serves as the ethics committee for the Foundation, overseeing the whistleblower, records retention, conflicts of interest and confidentiality policies. The Audit Committee Chairman is the independent party to which employees and board members may report any ethics concerns or possible conflicts of interest. The Committee meets at least twice per year and more often as necessary. Potential conflicts of interest are reviewed with the Foundation's Chief Deputy Director and Chief Financial Officer as needed for resolution. An annual acknowledgement process occurs with all board members and staff whereby they formally certify receipt of all governance policies and agreement to comply with them.
PROCESS FOR DETERMINING COMPENSATION	FORM 990, PART VI - SECTION B, LINE 15	The Personnel Committee of the Board of Directors has the primary governing responsibility of overseeing human resource matters and also works in conjunction with the Finance Committee as it relates to any financial impact of decisions taken. The Personnel Committee serves as an independent and objective party to monitor the Foundation's personnel, compensation, stipend and compliance processes as necessary. Their charter outlines specific responsibility for evaluating the performance of the Foundation's Chief employee (the Chief Deputy Director/ and Chief Financial Officer) and setting the senior employee's compensation level based on the results of this evaluation. The Museum Director is a state employee whose compensation is supplemented by the Foundation. The Director also has a consulting agreement with the Foundation under which he receives certain additional compensation upon Board discretion. The Personnel Committee's charter also outlines specific responsibility for evaluating the Museum Director's performance under this agreement and making recommendations to the full board with respect to compensation. To ensure any compensation recommendations are reasonable, the Personnel Committee meets and discusses annually the performance of both the Museum Director and the Foundation's Chief employee based upon specific goals and accomplishments outlined for the year. The Committee reviews the latest American Association of Museum's (AAM) annual salary survey as a basis for comparison of compensation reasonableness. The AAM survey provides benchmark data of US Museums by geographic area, population, and budget size for key museum positions. Final recommendations are submitted to the full board for approval and inclusion in the Foundation's operating budget.
MAKING INFORMATION AVAILABLE TO THE PUBLIC	FORM 990, PART VI - SECTION C, LINE 19	The Foundation's Articles of Incorporation are on file with the North Carolina Secretary of State and are publicly available. The Foundation's other governing documents, conflict of interest policies and financial statements are not generally made available to the general public except by specific request for purposes clearly identified and approved by the board. All Foundation employees have access to these documents on a shared intranet drive and independent contractors are provided with certain of these documents as appropriate to their legal relationship with the Foundation (example, conflicts of interest policy and sexual harassment policy) as specifically approved by the Board or as required for tax exempt organizations.