2011-09-15T15:13:45-05:00 2010-12-31 Cover & Rossiter PA 62 Rockford Road Suite 200 Wilmington DE 19806 990 2010-01-01 510070531 Eleutherian Mills-Hagley Foundation Inc ELEU 3026582400 PO Box 3630 Wilmington DE 198070630 Jeanne Belk 3026582400 2011-09-07 1 Peter Kennedy 3026566632 2011-09-07 2010 2016-02-24 21:20:13Z Jeanne Belk PO Box 3630 Wilmington DE 198070630 60866352 0 X www.hagley.org X 1952 DE Hagley Museum and Library collects, preserves, and interprets the unfolding history of American enterprise. 17 17 175 758 27742 -5447 2679802 2086568 617728 600760 1980355 6853807 307848 341947 5585733 9883082 30300 24300 0 0 5110445 5000097 0 0 227740 4063176 4178755 9203921 9203152 -3618188 679930 140609044 149766246 542832 441176 140066212 149325070 X Hagley Museum and Library collects, preserves, and interprets the unfolding history of American enterprise. 0 0 3905924 666467 Hagley Museum's primary audiences are cultural tourists traveling on their own; school groups participating in our curriculum based education programs; adult motor coach tours and families attending special events. In 2010 total attendance was 64,093, consisting of 20,010 general admission; 13,226 school and youth tours; 3,200 adult tours; and 27,657 special event admissions. 3704399 24300 Hagley's Research Library responded to over 5,300 researchers in 2010, resulting in a total of 14,944 reference transactions. The Imprints department answered requests from 1,084 individuals, utilizing 3,839 rare books and trade catalogs. The Manuscripts and Archives department responded to questions from 2,769 researchers, utilizing 4,277 linear feet of material. The Pictorial department responded to 909 researchers using 2,000 collection items. The digital collections department saw 872,904 page visits. Staff catalogued 2,670 books and collection items and processed 523 linear feet of manuscript, archives or pictorial collections. Cataloging staff contributed 2,037 authority records to the national database. Our conservation lab extended 12,117 treatments to Library Division materials and produced 5 exhibitions. The Center for History of Business, Technology and Science funded 23 of 45 grant applications, held one conference, one public lecture and held 6 seminars and organized the BHC annual meeting. Our public events of conferences, lectures and tours exposed Hagley to more than 2,600 visitors. 146175 The Hagley Associates Program works to support the Hagley mission through membership sales. Approximately 2,700 families and individuals enjoy special events, lectures and exhibit previews as well as have access to Hagley's facilities year round. 7756498 1 1 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 55 0 1 175 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Business Office 3026582400 298 Buck Road East Wilmington DE 198070630 Mr Henry B du Pont IV 1.00 X X 0 0 0 Mr Blaine T Phillips 1.00 X X 0 0 0 Mrs Andrew C Rose 1.00 X X 0 0 0 Mr E Matthew Brown 1.00 X X 0 0 0 Mr Edward J Bassett 1.00 X 0 0 0 Ms Carol A Ammon 1.00 X 0 0 0 Mr Edward B du Pont 1.00 X 0 0 0 Dr Thomas M Connelly Jr 1.00 X 0 0 0 Mr Howard E Cosgrove 1.00 X 0 0 0 Dr Louis Galambos 1.00 X 0 0 0 Mr Robert V Harra Jr 1.00 X 0 0 0 Mr Eldon du Pont Homsey 1.00 X 0 0 0 Ms Darla L Pomeroy 1.00 X 0 0 0 Mr Augustus I du Pont 1.00 X 0 0 0 Mrs W Laird Stabler Jr 1.00 X 0 0 0 Mr Gary M Talley 1.00 X 0 0 0 Dr JoAnne Yates 1.00 X 0 0 0 Mr Geoffrey Halfpenny 35.00 X X 159452 0 23510 Ms Majorie P Kelly 35.00 X 37838 0 16676 Ms Jeanne L Belk 35.00 X 78320 0 20289 Dr Theresa Snyder 35.00 X 119585 0 20438 395195 0 80913 2 0 1 0 Builders and Managers Inc 1201 N Orange St Suite 700 Wilmington DE 19801 Construction Contractor 234437 Northern Lights Productions 300 Western Ave Boston MA 02134 Special Events 150000 Cambridge Associates LLC PO Box 10317 Uniondale NY 11555 Investment Management 142399 DelCard Associates Inc 31 Blevins Drive Suite A New Castle DE 19720 Management Services 110212 Wolfington Body Company Inc PO Box 218 Exton PA 19341 Services 110000 5 2086568 97596 2086568 Special Events Revenue 900099 383192 383192 Admissions 900099 217568 217568 600760 1984747 1984747 269301 20803 248498 248498 248498 55756727 50887667 4869060 4869060 4869060 140106 74800 65306 37564 27742 Miscellaneous Visitor 900099 28143 28143 28143 9883082 666467 27742 7102305 24300 24300 348175 191801 156374 3555051 3331977 121944 101130 268830 204460 45062 19308 541004 454935 37353 48716 287037 268142 12146 6749 604424 604424 130671 60561 69582 528 111481 111481 266857 205721 25909 35227 1132953 1026712 102947 3294 31966 23162 7012 1792 846234 846234 266652 217170 38486 10996 Restricted Expenses App 458431 457282 1149 Special Events Producti 200674 200674 Library Division 131112 131112 Miscellaneous expense -2700 774 -3474 9203152 7756498 1218914 227740 751755 1528014 1146386 1040189 55166 157790 95293 92123 430261 88754 34049092 14903182 19133130 19145910 98584303 96757740 20412750 30955726 140609044 149766246 291936 225659 64915 58022 185981 157495 542832 441176 X 110115311 116600827 12411014 13663194 17539887 19061049 140066212 149325070 140609044 149766246 X 679930 8578928 X X 0 1 1 X 0 X 2556158 3020814 3223089 1463916 2086568 12350545 2556158 3020814 3223089 1463916 2086568 12350545 1580150 10770395 6053846 4727406 3608430 2215696 2254048 18859426 31209971 3765497 0.34510 0.36650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 111448118 1582285 14772712 6274970 2696 121525449 93740835 570598 23904394 6619426 148283 111448118 136793360 854687 -37532871 6374341 93740835 0.78070 0.15700 0.06230 0 0 1419399 1419399 26247694 12024371 14223323 3120834 2245300 875534 3261165 633511 2627654 19145910 28928403 F Split Interest Agreement 2027323 F 30955726 Accrued Post Retirement Benefits 157495 157495 9883082 9203152 679930 7920089 658839 8578928 9258858 8795423 5745345 5745345 3050078 6833004 6833004 9883082 9298755 95603 95603 9203152 0 9203152 Part III, Line 1a: Hagley does not capitalize donated collection items or recognize them as revenues or gains. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired or as decreases in temporarily restricted net assets if the assets used to purchase the items are restricted by donors. Proceeds from de-accessions or insurance recoveries are reflected as increases in the appropriate net asset class. Part III, Line 4: The collections are held for public exhibition, education, or research in furtherance of public service rather than financial gain. They are protected, kept unencumbered, cared for, and preserved, and are subject to a policy that requires the proceeds from sales of collection items to be used to acquire other items for collections. Description of Intended Use of Endowment Funds: Part V, Line 4: Hagley has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted funds that Hagley must hold in perpetuity or for a donor-specified period(s) as well as Board-designated funds. Under this policy, as approved by the Board of Trustees, the endowment assets are invested in a manner that is intended to maintain the level of financial support currently provided while assuming a moderate level of investment risk. Description of Uncertain Tax Positions Under FIN 48: Part X: Hagley has adopted the provisions of FASB Interpretation No. 48 (FASB ASC 740-10-50), Accounting for Uncertainty in Income Taxes. Management continually evaluates uncertain tax positions and expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings, as applicable. Management's evaluation is that there is no income tax liability. This evaluation is based on settled and established positions within the Internal Revenue Code and management believes there is no significant uncertainty related to its evaluation. Hagley's policy is to expense all interest and penalties, if any, as incurred. No amounts of interest or penalties were recognized by Hagley during the year ended December 31, 2010. No tax years prior to 2007 remain subject to examination by federal jurisdictions. Part XI, Line 8 - Other Adjustments: Net unrealized gain on split interest trust agreement 658,839. Part XII, Line 2d - Other Adjustments: Endowment draw 5,670,545. Cost of Goods Sold on Line 10b 74,800. Part XII, Line 4b - Other Adjustments: Investment income 1,984,747. Rental expenses -20,803. Realized Gains on Investment Sales 4,869,060. Part XIII, Line 2d - Other Adjustments: Cost of Goods Sold on Line 10b 74,800. Rental Expenses Reported on Line 6b 20,803. 1 Fellowship & research grants 22 24300 FMV Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Hagley research grants are awarded through an application and evaluation process. The committee, comprised of Hagley experts and outside scholars, assesses applications 4 times per year. Applicants must demonstrate their research will make important scholarly and academic contributions; potential grant recipients must also make sufficient use of Hagley's research collections. 22 grants were awarded in 2010. X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 Mr Geoffrey Halfpenny 153552 0 0 0 5900 0 12031 0 15516 0 186999 0 164570 0 Part I, Line 1a As a condition of employment and for the convenience of the Organization, the Executive Director resides on Hagley's premises. Part I, Line 4b Dr. Theresa Snyder - $15,000 X 12 97596 PUBLICLY TRADED VALUE 0 1 0 Form 990, Part VI, Section A, line 2 Some Trustees have a common family relationship. Form 990, Part VI, Section B, line 11 Draft versions of the Form 990 are distributed to all members of the Board prior to filing. Form 990, Part VI, Section B, line 12c Each Director must complete a Conflict of Interest Policy Disclosure Statement annually. Board members are required to acknowledge a potential conflict to the Board prior to entering into a transaction with Hagley. The minutes of the Board meeting at which a disclosure of conflict is made shall reflect the occurrence and the outcome. The Executive Director monitors contracts and vendor payments for potential conflicts of interest and informs the President of the Board. The President then brings the potential conflict to the Board for discussion when deemed possibly material. Form 990, Part VI, Section B, line 15 The Executive Director gathers local salary data as well as national salary survey data every other year in order to establish current market values for Hagley's salaried positions. The collected survey data supports a salary structure that aligns every position within a salary range. The Executive Director works with the Organization and Compensation Committee under the Board of Directors in order to ensure that the proper appraisal systems and compensation and benefits philosophies approved by the Committee are adhered to by management. Form 990, Part VI, Section C, line 19 There currently exists no legal requirement to make governing documents, conflict of interest policies or audited financial statements publicly available. Hagley has never received a request for information of this type. If any requests for this information should be received, they would be evaluated by the Trustees on a case by case basis. In general, the Trustees believe that the information available on this form (the Form 990) would be more than sufficient to respond to most legitimate inquiries. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized gains on investments: 7,920,089. Net unrealized gain on split interest trust agreement 658,839. Total to Form 990, Part XI, Line 5: 8,578,928. Form 990, Part XI, Line 2c: The Finance Committee assumes oversight of the financial statements and the selection of the independent auditors.