2011-05-12T15:22:03-05:00 2010-12-31 HANTZMON WIEBEL LLP CPA'S 818 E JEFFERSON ST PO BOX 1408 CHARLOTTESVILLE VA 22902 990 2010-01-01 311620682 MONTPELIER FOUNDATION INC MONT 5406722728 PO BOX 67 MONTPELIER STATION VA 22957 MICHAEL C QUINN 5406722728 2011-05-11 1 FRANK BERRY 4342962156 2010 2016-03-07 17:11:31Z MICHAEL C QUINN PO BOX 67 MONTPELIER STATION VA 22957 8163798 0 X WWW.MONTPELIER.ORG X 1998 VA PRESENT THE LASTING LEGACY OF JAMES MADISON AS FATHER OF THE U.S. CONSTITUTION, ARCHITECT OF THE BILL OF RIGHTS, AND FOURTH PRESIDENT OF THE UNITED STATES. 24 24 179 97 10412 0 5947653 5071387 1048758 1336023 264248 195371 832968 652440 8093627 7255221 0 0 0 0 3616397 3636452 0 0 658996 3959245 3825485 7575642 7461937 517985 -206716 34626056 34750476 10422723 10236919 24203333 24513557 THE MONTPELIER FOUNDATION'S PRIMARY MISSION IS TO PRESENT THE LASTING LEGACY OF JAMES MADISON AS FATHER OF THE U.S. CONSTITUTION, ARCHITECT OF THE BILL OF RIGHTS, AND FOURTH PRESIDENT OF THE UNITED STATES. 0 0 2312189 1444916 OPERATE AND MAINTAIN THE MANSION AND GROUNDS TO ALLOW THE PUBLIC THE OPPORTUNITY TO VISIT AND LEARN ABOUT THE LIFE AND HISTORY OF JAMES MADISON. DURING 2010, APPROXIMATELY 90,000 PEOPLE VISITED JAMES MADISON'S MONTPELIER. 2338963 ACQUIRE AND PRESERVE CURATORIAL OBJECTS APPROPRIATE TO THE PERIOD AND CONDUCT RESEARCH AND EDUCATIONAL PROGRAMS ABOUT MADISON ERA. 1298928 296470 PROVIDE HIGH-QUALITY CONSTITUTIONAL EDUCATION FOR EDUCATORS, JOURNALISTS, ELECTED OFFICIALS, LAW ENFORCEMENT, JUDGES, INTERNATIONAL VISITORS, AND BUSINESS LEADERS 5950080 1 1 0 0 0 0 1 0 1 1 1 0 1 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 92 0 179 1 1 1 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 X THE ORGANIZATION 5406722728 PO BOX 67 MONTPELIER STATION VA 22957 MARGARET BOEKER RHOADS 2.00 X 0 0 0 FLORENCE FOWLKES 2.00 X 0 0 0 WILLIAM H LEWIS 2.00 X 0 0 0 NANCY N CAMPBELL 2.00 X 0 0 0 ARTHUR COLLIAS 2.00 X 0 0 0 JOE GRILLS 2.00 X 0 0 0 WALTER CRAIGIE 2.00 X 0 0 0 PROF AE DICK HOWARD 2.00 X 0 0 0 ELINOR K FARQUHAR 2.00 X 0 0 0 STEPHEN T MCLEAN 2.00 X 0 0 0 LOUISE B POTTER 2.00 X 0 0 0 CYNTHIA REUSCHE 2.00 X 0 0 0 DR HUNTER RAWLINGS III 2.00 X 0 0 0 WILLIAM C REMINGTON 2.00 X 0 0 0 JOHN J SPONSKI 2.00 X 0 0 0 ROGER WILKINS 2.00 X 0 0 0 GERALD M LOWRIE 2.00 X 0 0 0 GREGORY MAY 2.00 X 0 0 0 ARTHUR H BRYANT 2.00 X 0 0 0 DENNIS A KERNAHAN 2.00 X 0 0 0 STEPHANIE MEEKS 2.00 X 0 0 0 LEIGH B MIDDLEDITCH JR 2.00 X 0 0 0 EUGENE W HICKOCK 2.00 X 0 0 0 MICHAEL C QUINN 35.00 X 182031 0 73841 KIMBERLY SKELLY 35.00 X 120444 0 17476 SEAN O'BRIEN 35.00 X 118235 0 23901 420710 0 115218 3 0 1 0 GAINES A HANEY 193 W MAIN STREET ORANGE VA 22960 BUILDING RESTORATIONS & REPAIRS 180091 1 824171 4247216 172889 5071387 ADMISSIONS 900099 1039553 1039553 CONSTITUTIONAL STUDIES 900099 296470 296470 1336023 104302 104302 156066 156066 156066 156066 650265 559196 91069 91069 91069 80295 44724 35571 35571 638013 304657 333356 322944 10412 TIMBERING REVENUE 900099 45028 45028 82419 82419 127447 7255221 1741386 10412 432036 225871 117453 108418 2896712 2220123 305685 370904 90828 64557 14211 12060 205181 182236 2177 20768 217860 164908 25826 27126 12753 12753 35290 35290 589527 515146 51534 22847 83956 74855 1630 7471 108135 53292 6972 47871 79099 36455 39549 3095 238947 220419 14515 4013 167401 154996 8496 3909 180454 163807 16647 664942 577062 87880 71297 4511 66786 REPAIRS AND MAINTENANCE 713189 712616 573 CATERING/ENTERTAINMENT 239023 130383 15178 93462 EQUIPMENT & FURNISHINGS 149900 136336 13555 9 EDUCATION 101013 99349 253 1411 CURATORIAL 96439 96439 294120 225137 24933 44050 7461937 5950080 852861 658996 3619857 3821016 143674 146652 1924007 1263599 97273 157867 53133 50807 21314332 2767443 18231694 18546889 453101 479666 7363738 7797020 2739579 2486960 34626056 34750476 334434 161786 42523 12414 9100000 9100000 486943 358660 458823 604059 10422723 10236919 X 16383053 16608339 6320280 6405218 1500000 1500000 24203333 24513557 34626056 34750476 X -206716 516940 X X 0 1 1 X 0 X 7240511 11667569 8264637 5947653 5071387 38191757 7240511 11667569 8264637 5947653 5071387 38191757 7063750 31128007 678228 561500 332143 273361 260368 2105600 40297357 7716069 0.77250 0.74660 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X 0 7363738 0 873644 394532 45830 7797020 5844140 100267 1729554 274464 35759 7363738 5180274 3170134 -2506268 5844140 0.43000 0.19000 0.38000 0 0 257960 46020 211940 19503304 2003589 17499715 1434906 623089 811817 118162 94745 23417 18546889 NATIONAL TRUST POOLED INVESTMENTS 7797020 F 7797020 CONSTRUCTION IN PROGRESS 1272402 DEPOSITS 3149 UNAMORTIZED BOND ISSUANCE COSTS 146793 BENEFICIAL INTEREST IN TRUSTS 1064616 2486960 DUE TO AFFILIATES 34528 ACCRUED WAGES AND VACATION 252153 SECURITY DEPOSITS 10983 OTHER LIABILITIES 10954 VALUE OF SWAP AGREEMENT 295441 604059 7255221 7461937 -206716 710334 -193394 516940 310224 7713946 710334 -193394 516940 7197006 58215 58215 7255221 7403722 0 7403722 58215 58215 7461937 PART III, LINE 1A: CONTRIBUTIONS AND EXPENDITURES FOR WORKS OF ART, HISTORICAL TREASURES, AND SIMILAR ASSETS THAT ARE HELD AS PART OF COLLECTIONS ARE NOT RECOGNIZED AS AN ASSET IN ACCORDANCE WITH ACCOUNTING STANDARDS. COST FOR IMPROVEMENTS TO AND RESTORATION OF THE HISTORIC BUILDINGS AND GROUNDS ARE EXPENSED WHEN INCURRED IN ACCORDANCE WITH ACCOUNTING STANDARDS. PART III, LINE 4: THE FOUNDATION'S COLLECTIONS CONSIST OF PERIOD FURNITURE, ART WORK, AND OTHER HOUSEHOLD ITEMS WHICH ARE DISPLAYED IN THE HOME OF JAMES AND DOLLEY MADISON. THESE DISPLAYS ALLOW VISITORS TO BETTER UNDERSTAND THEIR STYLE AND INTERESTS AND GLEAN AN APPRECIATION FOR WHAT LIFE WAS LIKE FOR THEM AT MONTPELIER. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION HAS REVIEWED AND EVALUATED THE RELEVANT TECHNICAL MERITS OF EACH OF ITS TAX POSITIONS IN ACCORDANCE WITH GUIDANCE ESTABLISHED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD AND DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD HAVE A MATERIAL IMPACT ON THE FINANCIAL STATEMENTS OF THE FOUNDATION. THE FOUNDATIONS GENERALLY ARE NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U. S. FEDERAL, STATE, OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2007. PART XI, LINE 8 - OTHER ADJUSTMENTS: SWAP AGREEMENT VALUATION -193,394. PART XII, LINE 2D - OTHER ADJUSTMENTS: SWAP VALUATION ADJUSTMENT -193,394. PART XII, LINE 4B - OTHER ADJUSTMENTS: REVENUE NETTED AGAINST EXPENSES 58,215. PART XIII, LINE 4B - OTHER ADJUSTMENTS: REVENUE NETTED AGAINST EXPENSES 58,215. EDUCATIONAL EVENTS & RENT 80295 80295 44724 80295 80295 44724 44724 35571 X 1 1 X 0 0 0 0 0 0 0 0 0 MICHAEL C QUINN 182031 0 0 0 0 0 43841 0 30000 0 255872 0 236737 0 PART I, LINE 1A THE FOUNDATION PROVIDES HOUSING FOR THE EXECUTIVE DIRECTOR. THIS HOUSING IS LOCATED ON THE FOUNDATION'S PROPERTY AND IS A CONDITION OF EMPLOYMENT FOR THE EXECUTIVE DIRECTOR. THE ESTIMATED MARKET VALUE OF THE HOUSING PROVIDED IS $30,000. IDA OF THE COUNTY OF ORANGE 521304024 684793AB8 2004-12-15 9100000 VISITOR CENTER CONSTRUCTION 0 0 0 9100000 9100000 2007 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 1 0 APPRAISAL X 14 172889 FAIR MARKET VALUE 1 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE MONTPELIER FOUNDATION USES WACHOVIA BANK AS THEIR BROKER TO RECEIVE AND LIQUIDATE SECURITIES DONATED TO THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11 A DRAFT OF THE THE FOUNDATION'S FORM 990 IS REVIEWED AND APPROVED BY THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY HAS BEEN DISTRIBUTED TO ALL MEMBERS OF THE ORGANIZATION'S BOARD OF DIRECTORS AND MANAGEMENT PERSONNEL. THROUGH THEIR CONSCIOUS EFFORTS DURING THE DECISION MAKING PROCESS, THE ORGANIZATION REFRAINS FROM ENTERING INTO TRANSACTIONS WHICH ARE IN VIOLATION OF THE POLICY. IT IS THE CONTINUING RESPONSIBILITY OF THE BOARD, OFFICERS, AND MANAGEMENT EMPLOYEES TO SCRUTINIZE THEIR TRANSACTIONS AND OUTSIDE BUSINESS INTERESTS AND RELATIONSHIPS FOR POTENTIAL CONFLICTS AND TO IMMEDIATELY MAKE SUCH DISCLOSURES TO THE PRESIDENT OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION'S BOARD OF DIRECTORS HAS A HUMAN RESOURCES COMMITTEE THAT DETERMINES COMPENSATION FOR THE PRESIDENT OF THE FOUNDATION. THE COMMITTEE REVIEWS THE COMPENSATION AMOUNTS PAID BY OTHER LOCAL HISTORICAL SITES AND NON-PROFITS BEFORE DETERMINING WHAT LEVEL TO SET COMPENSATION FOR THE FOUNDATION'S PRESIDENT. FOR OTHER OFFICERS AND KEY EMPLOYEES, SALARY RECOMMENDATIONS ARE MADE BY THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION KEEPS A PUBLIC INFORMATION FILE IN THE MAIN OFFICE. THE CUSTODIAN OF THE DOCUMENTS WILL FAX OR SEND ELECTRONICALLY THESE DOCUMENTS UPON A SPECIFIC REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 710,334. SWAP AGREEMENT VALUATION -193,394. TOTAL TO FORM 990, PART XI, LINE 5: 516,940. FORM 990, PAGE 12, LINE 2C A DRAFT COPY OF THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS ARE REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO ACCEPTANCE. ALSO, THE FINANCE COMMITTEE IS RESPONSIBLE FOR THE SELECTING OF THE INDEPENDANT AUDITORS AND OVERSIGHT OF THE AUDIT. 990 PART XI, LINE 2B THE FOUNDATION'S FINANCIAL STATEMENTS ARE AUDITED ANNUALLY ON A CONSOLIDATED BASIS. SUPPLEMENTAL CONSOLIDATING SCHEDULES, FOR WHICH A SEPARATE AUDIT REPORT IS ISSUED, ARE PROVIDED IN THE FINANCIAL STATEMENTS. DONATED COLLECTIONS SCHEDULE M, PAGE 1, LINE 2 DURING THE YEAR, THE FOUNDATION RECEIVED CONTRIBUTION OF A QUEEN ANN STYLE WALNUT TEA TABLE. THE TABLE APPRAISED FOR $20,000 AND WILL BE DISPLAYED IN THE MANSION. AS A RESULT, THE TABLE IS TREATED AS A COLLECTION AND NO RELATED REVENUE WAS RECORDED IN THE FINANCIAL STATEMENTS OR ON FORM 990, PART VIII, LINE 1G.