2011-05-16T13:53:51-05:00 2010-06-30 SINGERLEWAK LLP 10960 WILSHIRE BLVD SUITE 700 LOS ANGELES CA 900243783 990 2009-07-01 953433820 MUSEUM OF CONTEMPORARY ART MUSE 2136212766 250 S GRAND AVE LOS ANGELES CA 90012 RICHARD WEIL 2136212766 2011-05-16 1 Lior Temkin 3104773924 2011-05-13 2009 2016-02-24 21:20:13Z MOCA RICHARD WEIL 250 S GRAND AVENUE LOS ANGELES CA 90012 24439857 0 X www.moca.org X 1979 CA THE MUSEUM OF CONTEMPORARY ART WAS FOUNDED IN 1979 TO COLLECT, EXHIBIT, INTERPRET, AND PRESERVE CONTEMPORARY ART FOR THE PUBLIC BENEFIT, TO ENHANCE ACCESSIBILITY, TO FURTHER PUBLIC UNDERSTANDING AND APPRECIATION OF CONTEMPORARY ART, AND TO ENCOURAGE ONGOING CREATIVE ACTIVITY. THE MUSEUM ORGANIZES DIVERSE EXHIBITIONS AND PROGRAMS TO ENHANCE PUBLIC KNOWLEDGE AND APPRECIATION OF THE ART OF OUR TIME. 37 35 219 70 -7252 -7252 29479758 18646717 3617229 1249089 -3124551 341798 775902 1027846 30748338 21265450 0 0 9561970 6740333 0 1592629 14873894 9140073 24435864 15880406 6312474 5385044 36434148 40152169 3718513 2118738 32715635 38033431 THE MUSEUM OF CONTEMPORARY ART WAS FOUNDED IN 1979 TO COLLECT, EXHIBIT, INTERPRET, AND PRESERVE CONTEMPORARY ART FOR THE PUBLIC BENEFIT, TO ENHANCE ACCESSIBILITY, TO FURTHER PUBLIC UNDERSTANDING AND APPRECIATION OF CONTEMPORARY ART, AND TO ENCOURAGE ONGOING CREATIVE ACTIVITY. THE MUSEUM ORGANIZES DIVERSE EXHIBITIONS AND PROGRAMS TO ENHANCE PUBLIC KNOWLEDGE AND APPRECIATION OF THE ART OF OUR TIME. 0 0 4043757 1792593 CURATORIAL AND EXHIBITION PROGRAMS: IN FISCAL YEAR 2010, MAJOR EXHIBITIONS OF WORKS FROM THE PERMANENT COLLECTION COMPRISED MOST OF THE MUSEUM'S EXHIBITION SCHEDULE, COMPLEMENTING MAJOR MONOGRAPHIC EXHBITIONS FEATURING ARTISTS DAN GRAHAM, ARSHILE GORKY, FRANK ESCHER AND RAVI GUNEWARDENA, BALL-NOGUES STUDIOS, AND ROBERT VENTURI AND DENISE SCOTT BROWN. 4867553 BUILDING OPERATIONS AND SECURITY: The MOCA building, designed by celebrated Japanese architect Arata Isozaki, and the Geffen Contemporary building, subtly renovated by renowned California architect Frank Gehry, are maintained and secured to ensure the most beneficial and enjoyable experience for the visiting public. 1080653 14293 EDUCATION PROGRAMS: MOCA is committed to providing the education necessary for a better understanding of contemporary art. The museum's educational programs range from one-time events at the museum to ongoing programs taking place across Los Angeles. Programs "Art Talks", "Contemporary Art Start", "For Families", "First Visit and Beyond", and film series' and special events are all adapted to support each current exhibition. In fiscal 2010, over 15,300 participants enjoyed MOCA's education programs. 877104 Public Affairs/Information: A variety of promotional, advertising and public programs were produced by MOCA's Communications Department to inform the public of MOCA's activities and disseminate information about contemporary art. 877104 10869067 1 1 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 131 0 1 219 1 1 1 0 0 0 0 1 1 0 0 0 37 35 1 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X JAY MYRES 2136212766 250 SOUTH GRAND AVE LOS ANGELES CA 90012 Jeffrey Soros 1.00 X X 0 0 0 Fred Sands 1.00 X X 0 0 0 Maria Arena Bell 1.00 X X 0 0 0 David G Johnson 1.00 X X 0 0 0 JOHN BALDESSARI 1.00 X 0 0 0 Fabrizio Bonanni 1.00 X 0 0 0 PETER M BRANT 1.00 X 0 0 0 Charles S Cohen 1.00 X 0 0 0 Kathi Cypres 1.00 X 0 0 0 Clifford J Einstein 1.00 X 0 0 0 GIL FRIESEN 1.00 X 0 0 0 ERIC GARCETTI 1.00 X 0 0 0 Susan Gersh 1.00 X 0 0 0 LAREN KING 1.00 X 0 0 0 Barbara Kruger 1.00 X 0 0 0 Wonmi Kwon 1.00 X 0 0 0 TIMOTHY LEIWEKE 1.00 X 0 0 0 Eugenio Lopez 1.00 X 0 0 0 Lillian P Lovelace 1.00 X 0 0 0 NANCY MARKS 1.00 X 0 0 0 STEVEN T MNUCHIN 1.00 X 0 0 0 PETER MORTON 1.00 X 0 0 0 Jane Nathanson 1.00 X 0 0 0 Dallas Price-Van Breda 1.00 X 0 0 0 CATHERINE OPIE 1.00 X 0 0 0 VICTOR PINCHUK 1.00 X 0 0 0 CAROLYN CLARK POWERs 1.00 X 0 0 0 Steven F Roth 1.00 X 0 0 0 Ed Ruscha 1.00 X 0 0 0 Darren Star 1.00 X 0 0 0 Marc I Stern 1.00 X 0 0 0 Beth Swofford 1.00 X 0 0 0 donald tang 1.00 X 0 0 0 lilly tartikoff karatz 1.00 X 0 0 0 ANTONIO VILLARAIGOSA 1.00 X 0 0 0 Dr Charles E Young 40.00 X X 365593 0 285 Diana Allan 40.00 X 24330 0 3367 RICHARD WEIL 40.00 X 158000 0 0 JEFFREY DEITCH 40.00 X X 0 0 0 Ari Wiseman 40.00 X 145531 0 7538 Paul Schimmel 40.00 X 256259 0 15431 Lyn Winter 40.00 X 154259 0 5421 Jennifer Arceneaux 40.00 X 149552 0 7795 Grant Breding 40.00 X 92085 0 5754 SUZANNE ISKEN 40.00 X 103483 0 6030 Laurie McGahey 40.00 X 107926 0 4568 Jay Myres 40.00 X 112963 0 6232 MICHAEL NAUYOK 40.00 X 100521 0 5937 Jeremy Strick 40.00 X 506747 0 5640 2185164 0 68244 11 1 1 0 munger Tolles & Olson LLP 355 S GRAND 35TH FLOOR LOS ANGELES CA 90071 legaL 470931 singerlewak llp 10960 wilshire blvd ste 700 los ANGELES CA 90024 accounting services 151949 wolfgang puck catering & events 6801 hollywood blvd ste 513 hollywood CA 90028 catering 127463 3 874967 2663111 77500 15031139 44658 18646717 EXHIBITION FEES 900099 615397 615397 ADMISSIONS 900099 601389 601389 EDUCATIONAL WORKSHOP F 900099 14293 14293 REPRODUCTION FEES 900099 10920 10920 LOAN FEES 900099 7090 7090 1249089 364858 364858 3000 3000 126895 126895 126895 126895 780021 803081 -23060 -23060 -23060 1954144 2663111 1954144 0 967727 417182 550545 557797 -7252 deaccessioned artwork 900099 250000 250000 MISCELLANEOUS INCOME 900099 89545 89545 CAFE INCOME 722210 7861 7861 347406 21265450 1806886 -7252 819099 1370894 380156 990738 4290104 2660704 945628 683772 80589 49106 17559 13924 640815 424424 126108 90283 357931 217206 93551 47174 71284 3526 66606 1152 77274 77274 831389 310916 242203 278270 191560 188065 3495 126268 99687 10521 16060 49198 10450 20937 17811 12500 12500 1583345 1580924 2421 -125778 -177958 43690 8490 4679 3879 150 650 13294 13294 1051049 1051049 377366 157328 220038 SECURITY 1467270 1443632 767 22871 EXHIBITION SHIPPING 1263718 1157203 15165 91350 EXHIBITION EXPENSES 444626 444626 TRANSPORTATION 346047 279458 39250 27339 UNCOLLECTIBLE PLEDGES 322884 322884 1032100 572186 168852 291062 15880406 10869067 3418710 1592629 3180091 4154129 1250104 8019190 7154155 2147714 496444 273000 1004415 988847 53080 42046 30151284 23553743 7648591 6597541 13725115 19116315 382952 352588 36434148 40152169 3469637 1930055 50511 34990 198365 153693 3718513 2118738 X -13556859 -8873183 8678628 9312790 37593866 37593824 32715635 38033431 36434148 40152169 X 0 1 1 X 0 X 12914231 16451215 10976228 29479758 18646717 88468149 12914231 16451215 10976228 29479758 18646717 88468149 16171432 72296717 2545696 3201453 402676 114476 364858 6629159 107532 130431 231954 110138 100406 680461 95777769 10150733 0.75480 0.76970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 256750 X X X X 1 14237670 4000000 353786 18591456 14238545 2858335 -2730551 -128659 14237670 0.00000 1.00000 0.00000 0 0 23826863 18523489 5303374 6110222 4917408 1192814 195032 93679 101353 19167 19167 0 6597541 21265450 15880406 5385044 188902 -256150 -67248 5317796 21187505 188902 -16847 172055 21015450 250000 250000 21265450 15880406 0 15880406 0 15880406 Part III, Line 1a: The Museum's art collection has been acquired through purchases and contributions since the Museum's inception. The Museum does not capitalize its collection, which conforms to the predominant practice followed in the industry. Purchased collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired, or as decreases in temporarily or permanently 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. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. Part III, Line 4: The Museum's art collection is made up of more than 6,000 contemporary art objects that are held for exhibition and various other program activities. Each of the items is cataloged, preserved and cared for, and activities verifying their existence and assessing their condition are performed continuously. Part V, Line 4: Description of Intended Use of Endowment Funds: At June 30, 2009, the Museum's endowment summarized by purpose consists of the following: General endowment 12,121,552 Education 1,800,000 Exhibitions 4,016,836 Acquisitions 653,068 TOTAL 18,591,456 Part X: Description of Uncertain Tax Positions Under FIN 48: 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 have an effect on its tax-exempt status. Part XI, Line 8 - Other Adjustments: CHANGE IN SPLIT VALUE: -16847. collection items not capitalized: -239303. Part XII, Line 2d - Other Adjustments: CHANGE IN VALUE SPLIT-INTEREST AGREEMENT: -16847. Part XII, Line 4b - Other Adjustments: deaccessioned artwork: 250000. gala 3557632 2143597 1414035 1414035 art auction 481017 412700 68317 68317 18 578606 106814 471792 471792 4617255 2663111 1954144 1954144 1954144 0 X X X X X X 0 0 0 0 0 0 0 0 0 Dr Charles E Young 365593 0 0 0 0 0 0 0 285 0 365878 0 0 0 RICHARD WEIL 158000 0 0 0 0 0 0 0 0 0 158000 0 0 0 Ari Wiseman 145531 0 0 0 0 0 7307 0 231 0 153069 0 0 0 Paul Schimmel 256259 0 0 0 0 0 13048 0 2383 0 271690 0 0 0 Lyn Winter 154259 0 0 0 0 0 4960 0 461 0 159680 0 0 0 Jennifer Arceneaux 149552 0 0 0 0 0 7526 0 269 0 157347 0 0 0 Jeremy Strick 506747 0 0 0 0 0 5329 0 311 0 512387 0 0 0 CHARLES S COHEN TRUSTEE 475000 MOCA PROVIDES EXHIBITION PROGRAMMING AT THE GALLERY OF THE PACIFIC DESIGN CENTER (PDC). CHARLES S. COHEN IS THE PRESIDENT AND CEO OF COHEN BROTHERS REALTY CORPORATION, THE OWNERS AND MANAGERS OF PDC. 0 X 69 0 N/A X 7 44658 MARKET VALUE 0 1 1 Third Party Use: Part I, Line 32b: Auction Houses/Galleries are contracted to liquidate gifts of art AND A Stock brokerage is contracted to liquidate stock. Non Reporting of Revenue: Part I, Line 33: The Museum's art collection has been acquired through purchases and contributions since the Museum's inception. The Museum does not capitalize its collection, which conforms to the predominant practice followed in the industry. Purchased collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired, or as decreases in temporarily or permanently 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. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. Form 990, Part VI, Section A, line 2 Trustee Susan Gersh is the daughter-in-law of Life Trustee Bea Gersh. Form 990, Part VI, Section A, line 3 CFO Richard Weil is an independent contractor. Form 990, Part VI, Section B, line 11 Form 990 was reviewed by the CFO. Once approved by the CFO, the form was then distributed to the rest of the board prior to being electronically filed. Form 990, Part VI, Section B, line 12c Conflicts of interest are addressed in the Museum's Statement of Ethical Principles. Each serving Trustee, Officer and member of Senior Staff member is required to review annually the Rules and Procedures of the Ethics Committee and the Statement of Ethical Principles, and then submit a completed Memorandum of Disclosure. Form 990, Part VI, Section B, line 15 When a CEO/Executive Director is hired, an executive search firm is retained to find/identify suitable candidates. As part of this process, a compensation study is performed to determine the possible compensation range for candidates. This compensation study is completed with input from many sources, including other institutions' Form 990. A written employment contract is prepared for the proposed new hire; the full Board must vote on the candidate (and contract) prior to the finalization of the hiring process. Form 990, Part VI, Section C, line 18 THE ORGANIZATION MAKES ITS FORMS 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 CAN ALSO BE ACCESSED THROUGH WWW.GUIDESTAR.ORG, A PUBLIC WEBSITE. Form 990, Part VI, Section C, line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. SCHEDULE D, PART V ENDOWMENT FUNDS AS OF JUNE 30, 2010, THE TOTAL OF THE MUSEUM'S PERMANENTLY RESTRICTED FUNDS WAS $37,593,824. THERE WAS $18,591,456 IN THE MUSEUM'S DESIGNATED ENDOWMENT PORTFOLIO (WHICH CONSISTS OF INVESTMENTS AND OTHER ASSETS), A DEFICIENCY OF $19,002,368. The DEFICIENCY RESULTED FROM WITHDRAWALS FROM THE ENDOWMENT IN PRIOR YEARS. AS NOTED BELOW, THE BOARD OF TRUSTEES HAS DEVELOPED A PLAN TO REPAY THE DEFICIENCY. Economic conditions in recent years have created many challenges for cultural institutions, and MOCA has had difficulty meeting operating needs. In the past, losses have depleted working capital, and have put MOCA in a position where permanently restricted assets have been used for working capital. There are insufficient net assets to support permanently restricted net assets. This deficiency at June 30, 2010 and 2009 amounted to $19,002,368 and $23,356,196, respectively. In October, 2010, the Attorney General concluded its investigation of the matter with no adverse consequences to MOCA. In December, 2008, the Board of Trustees reached an agreement with The Eli and Edythe Broad Foundation to begin repaying the deficiency. SCHEDULE J, PART II JEREMY STRICK'S COMPENSATION EXECUTIVE DIRECTOR JEREMY STRICK LEFT IN JANUAURY, 2009. THE MUSEUM CONTINUED TO PAY OUT THE EXISTING EMPLOYMENT CONTRACT WITH MR. STRICK THROUGH JUNE, 2010.