2011-03-28T12:08:21-05:00 2010-06-30 FRIED AND KOWGIOS PARTNERS CPA'S LLP 441 LEXINGTON AVENUE NEW YORK NY 10017 990 2009-07-01 132887872 THE DRAWING CENTER INC DRAW 2122192166 35 WOOSTER STREET NEW YORK NY 10013 BRETT LITTMAN 2122192166 2011-03-28 2124902200 2009 2016-02-24 21:20:13Z Brett Littman 35 WOOSTER STREET NEW YORK NY 10013 3570946 0 X WWW.DRAWINGCENTER.ORG X 1976 NY PROMOTES THE SIGNIFICANCE OF DRAWINGS THROUGH EXHIBITIONS, PUBLICATIONS, AND EDUCATION. 19 19 18 22 0 0 1442183 1487112 48167 39589 15571 17589 0 1505921 1544290 0 0 952885 873326 35469 32500 355013 871860 874795 1860214 1780621 -354293 -236331 3982142 3978712 56408 92208 3925734 3886504 THE DRAWING CENTER WAS ESTABLISHED TO DEMONSTRATE THE SIGNIFICANCE AND DIVERSITY OF DRAWINGS THROUGHOUT HISTORY, TO JUXTAPOSE WORK BY MASTER FIGURES WITH WORK BY EMERGING AND UNDER-RECOGNIZED ARTISTS, AND TO STIMULATE PUBLIC DIALOGUE ON ISSUES OF ART AND CULTURE. 0 0 1072143 39589 The Drawing Center attracts more than 35,000 visitors a year, including local audiences, artists, students, and tourists from across America and abroad. The organization's annual exhibition program comprises five to eight group and solo shows featuring work in the drawing medium by emerging, under-recognized, established, and historical artists. Each of the Center's exhibitions is accompanied by an issue of the affordable Drawing Papers publication series, and major exhibitions are supported by scholarly catalogs. The Drawing Center's website attracts more than 166,000 visits annually, and serves as a clearing house for information on drawing as a medium, including capsule reviews of other institution's exhibitions and a lively blog. Services to artists are provided through the Center's Artist Registry and Viewing Program, which offers portfolio reviews for emerging artists, and through which the Center curates annual group exhibitions. Audiences are further engaged through a range of Public Programs, including gallery talks, lectures, panel discussions, and literary readings. The Center's Education Programs include free on-site and in-school programs for students in grades K-12 and an internship program for college students. 1072143 1 1 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 34 0 18 1 0 0 0 0 0 1 1 0 0 0 0 0 0 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X CHAMP KNECHT DIRECTOR OF FINANCE 2122192166 35 WOOSTER STREET NEW YORK NY 10013 FRANCES BEATTY ADLER 2.00 X X 0 0 0 ERIC RUDIN 2.00 X X 0 0 0 JANE DRESNER SADAKA 2.00 X X 0 0 0 DITA AMORY 2.00 X X 0 0 0 SUZANNE COCHRAN 2.00 X 0 0 0 STEVEN HOLL 2.00 X 0 0 0 ANITA CONTINI 2.00 X 0 0 0 BRUCE FERGUSON 2.00 X 0 0 0 DAVID LANG 2.00 X 0 0 0 IRIS MARDEN 2.00 X 0 0 0 KENNETH SILVER 2.00 X 0 0 0 PAT STEIR 2.00 X 0 0 0 STACEY GOERGEN 2.00 X 0 0 0 DR ALLEN SESSOMS 2.00 X 0 0 0 GEORGE NEGROPONTE 2.00 X 0 0 0 GABRIEL PEREZ-BARREIRO 2.00 X 0 0 0 BARBARA TOLL 2.00 X 0 0 0 ISABEL WILCOX 2.00 X 0 0 0 CANDACE WORTH 2.00 X 0 0 0 BRETT LITTMAN 40.00 X 120827 0 11759 120827 0 11759 1 0 0 0 0 845652 102405 539055 31000 1487112 PUBLICATION SALES 511190 26891 26891 EVENT & MISC REVENUE 900099 12698 12698 39589 186 186 9396 1955333 9153 1938173 243 17160 17403 17403 79330 845652 79330 0 1544290 39589 0 17589 189036 94342 60388 34306 545400 305843 81863 157694 81825 45157 14466 22202 57065 31493 10089 15483 21075 21075 32500 32500 295 295 81442 78846 755 1841 148996 104881 18969 25146 162157 83466 63241 15450 32052 18133 13423 496 51609 28179 9857 13573 32792 22504 9641 647 PRODUCTION EXPENSE 62797 59312 1921 1564 REPAIRS AND MAINTENANCE 51711 35488 15203 1020 CONDO MAINTENANCE 35419 25856 9563 UTILITIES 34755 23851 10218 686 DONATED ARTWORK 31000 31000 128695 83792 12498 32405 1780621 1072143 353465 355013 361165 282911 1449770 331576 127281 64358 6758 11145 25683 27112 32474 17905 2228472 1172650 1104529 1055822 839295 2151881 35187 36002 3982142 3978712 30801 42293 22985 25607 26930 56408 92208 X 837713 1044014 513221 267690 2574800 2574800 3925734 3886504 3982142 3978712 X 0 1 1 X 0 X 2013535 2170410 1661127 1442183 1456112 8743367 2013535 2170410 1661127 1442183 1456112 8743367 1280889 7462478 103849 127920 117917 15571 186 365443 9108810 586876 0.81930 0.77530 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X BENEFIT EVENT AUCTION 1 2574800 2574800 2574800 2574800 1.00000 0 0 180000 180000 1681480 827311 854169 119300 119300 0 155941 135158 20783 91751 90881 870 1055822 INVESTMENTS 2151881 F 2151881 VACATION ACCRUAL 26930 26930 1544290 1780621 -236331 197101 197101 -39230 1741096 197101 197101 1543995 295 295 1544290 1780326 0 1780326 295 295 1780621 Part III, Line 1a: The Organization has accumulated certain artwork that has not been reflected in the financial statements since the fair market value is not determinable. Part III, Line 4: AT TIMES THROUGHOUT THE YEAR THE ORGANIZATION MAINTAINED COLLECTIONS OF ARTWORK FOR EXHIBITION PURPOSES. THE ORGANIZATION'S EXEMPT PURPOSE IS TO PROMOTE THE SIGNIFICANCE OF DRAWINGS THROUGH EXHIBITIONS, PUBLICATIONS, AND EDUCATION. Part V, Line 4: Description of Intended Use of Endowment Funds: Permanently restricted net assets as of June 30, 2010 were restricted for the "Fund for the Future" campaign ($2,029,800), contemporary programming ($500,000) and unrestricted ($45,000). In 1999 the Organization launched a capital and endowment fundraising campaign called the "Fund for the Future". "Fund for the Future" donations are allocated 25 % to temporarily restricted for use towards capital costs and 75% to permanently restricted for endowment. The board spending policy limits distributions to realized investment earnings. Any excess investment earnings on these funds are temporarily restricted towards the "Fund for the Future". Net losses for the year are first applied towards any cumulative excess within temporarily restricted. Any remaining net losses reduce unrestricted investment income. Earnings on contemporary programming funds are restricted for general programming. The unrestricted portion of the endowment was created through a National Endowment for the Arts challenge grant. Part X: Description of Uncertain Tax Positions Under FIN 48: The Organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Part XI, Line 8 - Other Adjustments: UNREALIZED GAIN ON INVESTMENTS X X X X X X X 1 LIVET REICHARD COMPANY SPECIAL EVENTS MANAGEMENT 0 924982 32500 924982 924982 32500 924982 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY ANNUAL GALA 395766 347146 48620 48620 ANNUAL AUCTION 529216 498506 30710 30710 924982 845652 79330 79330 79330 0 X 80 31000 FAIR MARKET VALUE 0 1 1 Third Party Use: Part I, Line 32b: THE ORGANIZATION USES A PROFESSIONAL FUND RAISER TO MANAGE THE ART AUCTION (ANNUAL BENEFIT EVENT). Non Reporting of Revenue: Part I, Line 33: THE ORGANIZATION RECEIVED DONATED ARTWORK DURING THE YEAR ENDED JUNE 30, 2010 IN SUPPORT OF ITS FUNDRAISING AUCTION AND PUBLICATION PROGRAMS. DONATED ARTWORK ASSOCIATED WITH THE ORGANIZATION'S FUNDRAISING AUCTION (APPROXIMATELY 79 CONTRIBUTORS)HAS NOT BEEN CAPITALIZED, AS ALLOWED UNDER FASB ASC 958-360. THE FAIR MARKET VALUE ($31,000) OF ARTWORK SOLD IN CONNECTION WITH THE ORGANIZATION'S PUBLICATION PROGRAM HAS BEEN RECORDED (1 CONTRIBUTOR). Form 990, Part VI, Section B, line 11 Draft of the Form 990 is sent to the full board of directors for review and approval. Form 990, Part VI, Section B, line 12c All board members and officers are required to submit an annual conflict of interest certification and Form 990 disclosure form. Form 990, Part VI, Section B, line 15 Officers compensation approved by board based on industry standard. Form 990, Part VI, Section C, line 19 Form 990 is available on guidestar.org, all others upon request FORM 990, PART XI, LINE 2C: NO, PROCESS HAS NOT CHANGED FROM PRIOR YEAR.