2011-04-26T14:21:22-05:00 2010-06-30 BAKER NEWMAN & NOYES LLC BOX 507 PORTLAND ME 04112 990 2009-07-01 020223322 CURRIER MUSEUM OF ART CURR 6036696144 150 ASH STREET MANCHESTER NH 03104 DAVID A JENSEN 6036696144 2011-04-06 2078792100 2009 2016-02-24 21:20:13Z DAVID A JENSEN 150 ASH STREET MANCHESTER NH 03104 42071108 0 X www.currier.org X 1919 NH DISPLAY OF ART FOR PUBLIC ENJOYMENT 16 16 134 109 -264121 -264121 7403469 852626 836420 739292 -2117134 1013160 182791 151030 6305546 2756108 13683 12995 0 2418245 2403790 0 349274 3791285 4020306 6223213 6437091 82333 -3680983 92893076 96421919 10295248 9695151 82597828 86726768 DISPLAY, INTERPRETATION AND PRESERVATION OF ART FOR PUBLIC ENJOYMENT AND ENRICHMENT 0 0 4668293 0 350983 Art Museum - THE CURRIER, AN INTERNATIONALLY RENOWNED ART MUSEUM, IS NEW HAMPSHIRE'S LARGEST ART MUSEUM WITH WORLD CLASS EUROPEAN AND AMERICAN ART COLLECTIONS OF OVER 11,000 OBJECTS THAT ARE AT THE CORE OF ITS EDUCATION, STUDIO, AND EXHIBITION PROGRAMS. AN ANNUAL ROSTER OF 4-5 SPECIAL EXHIBITIONS THAT COMPLEMENTS THE PERMANENT COLLECTION DISPLAYS ARE INTERPRETED THROUGH A RANGE OF PROGRAMS INCLUDING GUIDED TOURS, HANDS-ON ART MAKING ACTIVITIES, AND ARTIST TALKS. THERE WERE APPROXIMATELY 63,000 VISTORS TO THE MUSEUM. IN ADDITION TO EXHIBITION GALLERIES THE MUSEUM FACILITY INCLUDES: 2 CLASSROOMS, 180-SEAT AUDITORIUM, WINTER GARDEN, MUSEUM SHOP, CAFE AND ENTRANCE PLAZA. WWW.CURRIER.ORG. 332985 12995 256870 Art Center - OPENED SINCE 1939, THE ART CENTER SERVES MANCHESTER AND SURROUNDING COMMUNITIES WITH QUALITY, STUDIO-BASED EDUCATIONAL PROGRAMS IN THE VISUAL ARTS. THE ART CENTER PROVIDES A WIDE RANGE OF LECTURES AND STUDIO INSTRUCTION FOR CHILDREN, TEENS AND ADULTS WITH ANNUAL ENROLLMENTS OF OVER 2,000. 117316 0 131439 Zimmerman House - THE HISTORIC ISADORE J. AND LUCILLE ZIMMERMAN HOUSE WAS DESIGNED BY ARCHITECT FRANK LLOYD WRIGHT. INCLUDED IN THE HOUSE IS THE ORIGINAL FURNITURE DESIGNED BY WRIGHT AND THE ZIMMERMANS' PERSONAL COLLECTION OF MODERN ART, POTTERY, AND SCULPTURE. THE ZIMMERMAN HOUSE DRAWS ABOUT 4,000 VISITORS ANNUALLY FOR TOURS OF THE HOUSE AND GROUNDS. THE ZIMMERMAN HOUSE IS THE ONLY RESIDENCE IN NEW ENGLAND DESIGNED BY WRIGHT OPENED TO THE PUBLIC. 5118594 1 1 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 28 0 1 134 1 0 0 0 0 0 1 1 0 0 0 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH X SHERRY COLLINS 6036696144 150 ASH STREET MANCHESTER NH 03104 KENDRA STEARNS O'DONNELL 2.00 X X 0 0 0 DAVID A JENSEN 5.00 X X 0 0 0 M CHRISTINE DWYER 2.00 X X 0 0 0 LUCY FOWLKES BREED 1.00 X X 0 0 0 RAYMOND G COTE 1.00 X 0 0 0 PAMELA DIAMANTIS 1.00 X 0 0 0 JOHN H MORISON III 1.00 X 0 0 0 PATRICK DUFFY 2.00 X 0 0 0 BARBARA PUTNAM 1.00 X 0 0 0 JOHN SWOPE 2.00 X 0 0 0 RICHARD THORNER 1.00 X 0 0 0 WILLIAM UPTON 1.00 X 0 0 0 KIMON S ZACHOS 3.00 X 0 0 0 HARRY SHEPLER 2.00 X 0 0 0 NIKE SPELTZ 1.00 X 0 0 0 NANCY TIEKEN 1.00 X 0 0 0 SUSAN E STRICKLER 40.00 X 166466 0 10818 166466 0 10818 1 0 1 0 0 87022 765604 64697 852626 MUSEUM SHOP 900099 250723 250723 TUITION 611710 240158 240158 ADMISSIONS 900099 206778 206778 PUBLIC PROGRAMS 900099 41633 41633 739292 866504 866504 29919 7218 22701 22701 22701 39454438 39307782 146656 146656 146656 OTHER 900099 392450 392450 PARTNERSHIPS 900099 -264121 -264121 128329 2756108 1131742 -264121 1035861 12995 12995 176009 44002 61603 70404 1917425 1396958 341049 179418 40863 22918 15551 2394 120881 75966 31051 13864 148612 105625 26991 15996 3037 3037 30089 30089 204166 204166 36358 963 35395 119823 117291 2532 102817 71619 21714 9484 70465 16005 50084 4376 393354 361401 24944 7009 12006 6542 4364 1100 527950 501552 26398 1256645 1193814 37698 25133 80408 70476 9133 799 ART WORKS PURCHASED 356705 356705 PUBLIC PROGRAMS/SERVICE 341928 341928 EXTINGUISHMENT OF DEBT 196309 186494 9815 EXHIBITIONS 191313 191313 DEV & MEMBERSHIP 77935 44027 14611 19297 18998 18998 6437091 5118594 969223 349274 222227 338672 2927321 781039 975084 442953 310588 44974 79103 85067 135010 62269 30750200 9261820 22648362 21488380 34434558 50453596 31026307 22560242 134516 164727 92893076 96421919 207685 179487 111818 263956 9438207 9244332 10247 7376 527291 0 10295248 9695151 X 612936 1824027 31580514 34411218 50404378 50491523 82597828 86726768 92893076 96421919 X 0 1 1 X 0 X 2350217 2666487 3036194 617791 765957 9436646 2350217 2666487 3036194 617791 765957 9436646 387970 9048676 1390878 1494547 1169112 975790 896423 5926750 15363396 3545481 0.58900 0.59400 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 67671774 419585 8424028 12700 4104314 198661 72199712 80868480 6478723 -16198682 15000 3331718 130029 67671774 0.00660 0.69930 0.29410 0 0 27463148 7700651 19762497 3287052 1561169 1725883 21488380 REAL ESTATE INVESTMENT FUNDS 2608747 F ALTERNATIVE INVESTMENTS 19951495 F 22560242 2756108 6437091 -3680983 7708953 100970 7809923 4128940 10573249 7708953 108188 7817141 2756108 0 2756108 6444309 7218 7218 6437091 0 6437091 Part III, Line 4: The Currier is New Hampshire's largest art museum with world-class European and American art collections of over 11,000 objects that are at the core of its education, studio, and exhibition programs. Composed of the museum, the Art Center, and the Frank Lloyd Wright-designed Zimmerman House, the Currier is an accredited member of the American Association of Museums. In its 80-year history, the museum has built collections of both international stature and regional importance. Today, the museum's holdings of more than 11,000 objects include major works by such European masters as Tiepolo, Constable, Monet, Picasso, and Matisse, among many others. The American art collections are the most comprehensive in northern New England, and include works by Homer, Hassam, O'Keeffe, Calder, and Gottlieb, for instance, as well as extensive holdings of sculpture, photography, glass, silver, pewter, and furniture. The caliber of the collections matches that of many major metropolitan museums, and objects are frequently loaned to museums around the world. The Currier has a long-standing commitment to collect the best art made in New Hampshire in order to reflect the region's vital cultural traditions. An annual roster of 4-5 special exhibitions that complements the permanent collection displays are interpreted through a range of programs including guided tours, hands-on art making activities, and artist talks, and such resources as family guides. Approximately 6,500 students visit the Currier each year on a formal tour program. The Art Center offers year-round studio programs with annual enrollments of over 2,000 students from 40 surrounding communities. The Zimmerman House draws about 4,000 visitors annually on guided tours of about 12 visitors each. Outreach programs reach public schools, libraries, social service agencies and community organizations throughout the state. The Currier's collections are accessible to the public through the Online Collections Database (www.currier.org), which includes images and basic data for all 11,000 objects in the collections and extended text entries for 250 key works. It also provides supplemental information to support the Online Curriculum for Educators (curriculum.currier.org). The Currier's mission, approved by the Board in 1994, embraces the following principles: The Currier Museum of Art is committed to providing stimulating, diverse, and enjoyable encounters with original works of art and, in so doing, hopes to inspire the hearts, minds, and imagination of its members and visitors. It is dedicated to high standards of exhibition, preservation, research, interpretation and education, and enhancement of its collection. The Currier is determined to serve all age groups and a culturally varied audience from New Hampshire and the region. The Currier's vitality depends upon its responsiveness to changes in the arts and in society while maintaining a sound financial base on which to expand its activities. Part V, Line 4: Description of Intended Use of Endowment Funds: THE ENDOWMENT FUNDS ARE USED FOR MUSEUM OPERATIONS, ART ACQUISITION, CONSERVATION, LIBRARY BOOK PURCHASES, AND SCHOLARSHIPS. Part XI, Line 8 - Other Adjustments: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP: 100970. Part XII, Line 2d - Other Adjustments: RENTAL EXPENSE: 7218. INTEREST RATE SWAP: 100970. Part XIII, Line 2d - Other Adjustments: RENTAL EXPENSE: 7218. PART III, LINE 1A: The Museum has elected not to capitalize its collections and objects of art, including the Zimmerman House, all of which are significant to the Museum's operations and mission. The value of the objects acquired by gift, for which the Museum can make a reasonable estimate, totaled $223,275 and $510,450 for the years ended June 30, 2010 and 2009, respectively. An estimate of the total value of objects acquired by gift in years prior to 1997 is not readily determinable. The total value of gifts received since 1997 is $9,444,245. The total value of objects purchased from December 31, 1997 through June 30, 2010 and 2009 was $11,395,841 and $11,039,136, respectively. For the years ended June 30, 2010 and 2009, the Museum sold deaccessioned collections and objects of art totaling $15,531 and $60,249, respectively. The selling price of these items approximated their fair value. 1 SCHOLARSHIPS ARE PROVIDED TO STUDENTS IN NEED TO ATTEND STUDIO ART CLASSES 60 12995 FMV STUDIO ART CLASSES/LESSONS Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: APPLICANTS ARE REQUIRED TO FILL OUT SCHOLARSHIP APPLICATIONS AND PROVIDE EITHER TWO COPIES OF WAGE RECEIPTS OR THEIR LATEST TAX RETURN (FORM 1040). X X X 0 0 0 0 0 0 0 0 0 SUSAN E STRICKLER 166466 0 0 0 0 0 5048 0 5770 0 177284 0 0 0 NHHEFA 020279866 2009-07-23 10700000 REFINANCE PRIOR ISSUE (3/30/06). 0 0 9244332 140041 1 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 X 77 0 X 13 64697 STOCK EXCHANGE PRICE 0 0 0 Non Reporting of Revenue: Part I, Line 33: PART I, LINE 1 - A ZERO WAS REPORTED ON FORM 990, PART VIII, LINE G, BECAUSE THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. Form 990, Part VI, Section B, line 11 The Process for Review of Form 990 by the Board of Trustees: This Form 990 was reviewed in depth by the Finance Committee, the Board Treasurer, Vice President, and President, the Director and Director of Finance with the outside CPA firm who prepared the return. The Finance Committee was authorized by the Board of Trustees to review IRS Form 990 prior to filing in lieu of full Board review. Form 990, Part VI, Section B, line 12c Compliance with the Conflict of Interest Policy: The Currier Museum of Art Conflict of Interest Policy requires every trustee or officer to disclose any known or potential conflict of interest to the board President prior to any action, decision, or vote occurring with the potential conflict. The trustee or officer having the potential conflict is not permitted to participate when the determination is made or when a decision or vote is taken where a conflict of interest may exist. Annually, every trustee and officer is required to disclose any conflicts of interest, or attest to the fact that there are none, in writing. The signed statements are sent to the Director of Finance and the statements are reviewed by the Director and Board President. No conflicts of interest between the Currier Museum of Art and any member of its Board or Officers have existed to date. Form 990, Part VI, Section B, line 15 THE BOARD PRESIDENT ANNUALLY REQUESTS FROM DIRECTOR OF HUMAN RESOURCES CURRENT AND HISTORICAL COMPENSATION FOR DIRECTOR AND KEY EMPLOYEES (EXECUTIVE STAFF). A COPY OF PERTINENT SALARY INFORMATION FOUND IN A.A.M.D. (AMERICAN ASSOCIATION OF MUSEUM DIRECTORS) ANNUAL SALARY SURVEY IS ALSO MADE AVAILABLE TO THE PRESIDENT. 990'S OF OTHER SIMILAR ORGANIZATIONS ARE LOOKED AT WHEN REVIEWING KEY EMPLOYEE COMPENSATION. AN ANNUAL PERFORMANCE EVALUATION OF THE DIRECTOR IS DONE BY THE BOARD OF TRUSTEES. EVALUATIONS ARE SENT BY EACH BOARD MEMBER TO THE BOARD PRESIDENT. DURING AN EXECUTIVE SESSION OF THE BOARD OF TRUSTEES THE DIRECTOR'S PERFORMANCE IS REVIEWED AND ANNUAL COMPENSATION IS DETERMINED. A SIGNED LETTER FROM THE BOARD PRESIDENT APPROVING THE DIRECTOR'S COMPENSATION IS GIVEN TO THE DIRECTOR OF FINANCE AND DIRECTOR OF HUMAN RESOURCES. Form 990, Part VI, Section C, line 19 Governing documents, conflict of interest policy and financial statements are made available to public upon request. Copies of these documents are also available to the public in the Currier Library during public hours. FORM 990, PART XI, LINE 2C: Oversight of audit and financial statements: The Finance Committee of the Currier Museum of Art meets annually with audit/CPA firm which includes an executive session where Director and Director of Finance are not present. The audit is completed in accordance with auditing standards generally accepted in the United States of America. The draft financial statements and management letter are presented by the CPA Firm and thoroughly reviewed by the Finance Committee. After review and approval by the Finance Committee of the audited financial statements and management letter, the final audit is presented to the full board for review and approval. SCHEDULE K, PART I, BOND ISSUES: DESCRIPTION OF PURPOSE (CONTINUED) PAYMENT TO LEHMAN BROTHERS COMMERCIAL BANK AS A RESULT OF EARLY TERMINATION OF AN EXISTING INTEREST RATE SWAP. SCHEDULE K, PART II, LINE 5: BOND ISSUANCE COSTS APPROXIMATELY $625,000 OF BOND PROCEEDS WERE USED TO PAY DOWN PRINCIPAL. NO BOND FUNDS WERE USED FOR CAPITAL EXPENDITURES.