2026-05-14T09:11:42-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 100172013 990 2024-07-01 111672743 THE BROOKLYN INSTITUTE OF ARTS AND SCIENCES BROO 7185016200 200 EASTERN PARKWAY BROOKLYN NY 112386052 THOMAS C ROLLINS CFO/COO 7185016200 2026-05-14 1 1 SCOTT THOMPSETT P00741490 2125990100 2024 2025-03-06 01:10:19Z ANNE PASTERNAK 200 EASTERN PARKWAY BROOKLYN NY 112386052 132704435 0 X WWW.BROOKLYNMUSEUM.ORG X 1890 NY WE BRING PEOPLE TOGETHER THROUGH ART & EXPERIENCES THAT INSPIRE CELEBRATION, COMPASSION & COURAGE. 61 61 580 0 0 0 52137106 46339747 8182891 6360446 6629998 7046020 1345217 1954609 68295212 61700822 0 0 0 0 43494319 42663386 778490 781756 6534273 33650823 27491861 77923632 70937003 -9628420 -9236181 392149797 400201543 41741261 28171198 350408536 372030345 X THE MISSION OF THE BROOKLYN INSTITUTE OF ARTS AND SCIENCES, D/B/A BROOKLYN MUSEUM (THE "MUSEUM") IS TO BRING PEOPLE TOGETHER THROUGH ART AND EXPERIENCES THAT INSPIRE CELEBRATION, COMPASSION, COURAGE, AND THE WILL TO ACT. (SEE SCHEDULE O). 0 0 32926319 0 2373220 CURATORIAL AND EDUCATIONAL CURATORIAL - THE BROOKLYN MUSEUM STUDIES, PRESERVES AND EXHIBITS A VAST AND COMPREHENSIVE COLLECTION THAT SPANS NEARLY 6,000 YEARS OF HISTORY AND REPRESENTS CULTURES FROM AROUND THE GLOBE. PERMANENT INSTALLATIONS PRESENT THE MUSEUM'S COLLECTIONS OF ARTS OF THE AMERICAS AND EUROPE; ARTS OF ANCIENT EGYPT, AFRICA, ASIA, AND THE MIDDLE EAST; CONTEMPORARY, AND FEMINIST ART. SEVERAL OF THE MUSEUM'S COLLECTIONS ARE CONSIDERED TO BE AMONG THE HIGHEST QUALITY IN THE WORLD, INCLUDING ITS AMERICAN AND EGYPTIAN ART COLLECTIONS. (CONTINUED IN SCHEDULE O)TRAVELING EXHIBITIONS PROVIDE UNIQUE OPPORTUNITIES FOR AUDIENCES FROM ACROSS THE GLOBE TO EXPERIENCE WORKS FROM THE MUSEUM'S RENOWNED COLLECTION. EDUCATION - INNOVATIVE EDUCATION AND PUBLIC PROGRAMS SERVE STUDENTS, TEACHERS, FAMILIES AND ADULTS THIS YEAR. THROUGH EXPLORING THE COLLECTION AND SPECIAL EXHIBITIONS AND THROUGH HANDS-ON ART-MAKING, THESE PROGRAMS STRENGTHEN CLASSROOM LEARNING AND PROMOTE LIFELONG CONNECTIONS TO THE VISUAL ARTS. NATIONALLY RECOGNIZED PROGRAMS SUCH AS FIRST SATURDAYS HAS BECOME ONE OF THE MOST BELOVED BROOKLYN PROGRAMS, HOSTING APPROXIMATELY 1.5 MILLION VISITORS SINCE ITS DEBUT IN 1988. EDUCATION PROGRAMS ARE CENTRAL TO THE MUSEUM'S MISSION OF FOCUSING AND ENRICHING THE EXPERIENCES OF OUR VISITORS. 8818731 0 796429 SPECIAL EXHIBITIONS BROOKLYN MUSEUM PIONEERS THE PRESENTATION AND INTERPRETATION OF THE VISUAL AND ARTISTIC HERITAGE OF WORLD CULTURES. A WELL-ROUNDED SELECTION OF EXHIBITIONS REINFORCES THE MUSEUM'S LEADERSHIP IN ARTS SCHOLARSHIP. THESE EXHIBITIONS ATTRACTED ROBUST PUBLIC ATTENTION AND ENGAGED AUDIENCES OF ALL BACKGROUNDS AND AGES IN THE VISUAL ARTS. 5198726 0 2764617 PUBLIC AFFAIRS AND INFORMATION IN FY25, MORE THAN 500,000 VISITORS EXPLORED OUR EXTRAORDINARY PERMANENT COLLECTIONS, ATTENDED SPECIAL EXHIBITIONS AND PARTICIPATED IN OUR PUBLIC PROGRAMS. 1825728 0 460977 MERCHANDISE OPERATIONS THE BROOKLYN MUSEUM SHOP EXTENDS OUR VISITORS' EXPERIENCE. OUR INVENTORY IS COMPRISED OF EXHIBITION-RELATED ITEMS, BROOKLYN MUSEUM LOGO PRODUCTS, CATALOGS AND OTHER PUBLICATIONS. 1825728 0 460977 48769504 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 138 0 1 580 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 61 61 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ NY X THOMAS C ROLLINS 7185016200 200 EASTERN PARKWAY BROOKLYN NY 112386052 BARBARA M VOGELSTEIN BOARD CHAIR 8.00 0.00 X X 0 0 0 STEPHANIE INGRASSIA TRUSTEE/VICE CHAIR 4.00 0.00 X X 0 0 0 NEIL SIMPKINS TRUSTEE/TREASURER 4.00 0.00 X X 0 0 0 SAUNDRA WILLIAMS-CORNWELL TRUSTEE/SECRETARY 4.00 0.00 X X 0 0 0 REGINA ALDISERT TRUSTEE 2.00 0.00 X 0 0 0 SASHA BASS TRUSTEE 2.00 0.00 X 0 0 0 TAMARA BELINFANTI TRUSTEE 2.00 0.00 X 0 0 0 ADELE BERNHARD TRUSTEE 2.00 0.00 X 0 0 0 THOMAS BRODSKY TRUSTEE 2.00 0.00 X 0 0 0 DEENIE BROSENS TRUSTEE 2.00 0.00 X 0 0 0 CONSTANCE L CHRISTENSEN TRUSTEE EMERITUS (NON-VOTING) 2.00 0.00 X 0 0 0 RONA CITRIN TRUSTEE 2.00 0.00 X 0 0 0 BARBARA KNOWLES DEBS TRUSTEE EMERITUS (NON-VOTING) 2.00 0.00 X 0 0 0 JONATHAN DONNELLAN TRUSTEE 2.00 0.00 X 0 0 0 NIKOLA DURAVCEVIC TRUSTEE 2.00 0.00 X 0 0 0 SYLVANA DURRETT TRUSTEE 2.00 0.00 X 0 0 0 HENRY B ELSESSER TRUSTEE 2.00 0.00 X 0 0 0 SHARON E FAY TRUSTEE 4.00 0.00 X 0 0 0 NORMAN M FEINBERG TRUSTEE (THRU 02/2025) 2.00 0.00 X 0 0 0 MICHAEL FIELD TRUSTEE 2.00 0.00 X 0 0 0 JOHN-ANDREW FORDE TRUSTEE 2.00 0.00 X 0 0 0 AMANDA FUHRMAN TRUSTEE 2.00 0.00 X 0 0 0 JEFFREY GIBSON TRUSTEE 2.00 0.00 X 0 0 0 STEVEN GUTTMAN TRUSTEE 2.00 0.00 X 0 0 0 JANE HAIT TRUSTEE 2.00 0.00 X 0 0 0 JEANINE HERIVEAUX TRUSTEE 2.00 0.00 X 0 0 0 DAN HOUSER TRUSTEE 2.00 0.00 X 0 0 0 KERBY JEAN-RAYMOND TRUSTEE 2.00 0.00 X 0 0 0 ALAN JENKINS TRUSTEE 2.00 0.00 X 0 0 0 MICHI JIGARJIAN TRUSTEE 2.00 0.00 X 0 0 0 RUTH JURGENSEN TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH KAHANE TRUSTEE (THRU 06/30/2025) 2.00 0.00 X 0 0 0 TITUS KAPHAR TRUSTEE 2.00 0.00 X 0 0 0 KAREN KIEHL TRUSTEE 2.00 0.00 X 0 0 0 SUSANA TORRUELLA LEVAL TRUSTEE 2.00 0.00 X 0 0 0 MARLEY BLUE LEWIS TRUSTEE 2.00 0.00 X 0 0 0 LYNNE M MAGUIRE TRUSTEE (THRU 06/30/2025) 2.00 0.00 X 0 0 0 JOEL MALLIN TRUSTEE (THRU 06/30/2025) 2.00 0.00 X 0 0 0 RICHARD W MOORE TRUSTEE EMERITUS (NON-VOTING) 2.00 0.00 X 0 0 0 TODD MOSCOWITZ TRUSTEE 2.00 0.00 X 0 0 0 VIK MUNIZ TRUSTEE 2.00 0.00 X 0 0 0 IVAN ONTIVEROS TRUSTEE (AS OF 06/2025) 2.00 0.00 X 0 0 0 OTIS PRATT PEARSALL TRUSTEE EMERITUS (NON-VOTING) 2.00 0.00 X 0 0 0 ASAHI POMPEY TRUSTEE 2.00 0.00 X 0 0 0 LESLIE PUTH TRUSTEE 2.00 0.00 X 0 0 0 TRACEY G RIESE TRUSTEE 2.00 0.00 X 0 0 0 VICTORIA ROGERS TRUSTEE 2.00 0.00 X 0 0 0 JONATHAN ROSEN TRUSTEE 2.00 0.00 X 0 0 0 ELIZABETH A SACKLER TRUSTEE EMERITUS (NON-VOTING) 2.00 0.00 X 0 0 0 CARLA SHEN TRUSTEE 2.00 0.00 X 0 0 0 JON SHERMAN TRUSTEE (AS OF 01/2025) 2.00 0.00 X 0 0 0 ROBERT SOROS TRUSTEE (THRU 06/30/2025) 2.00 0.00 X 0 0 0 ANDRAS SZANTO TRUSTEE (AS OF 01/2025) 2.00 0.00 X 0 0 0 JOHN S TAMAGNI TRUSTEE EMERITUS (NON-VOTING) 2.00 0.00 X 0 0 0 ELLEN N TAUBMAN TRUSTEE 2.00 0.00 X 0 0 0 MICKALENE THOMAS TRUSTEE 2.00 0.00 X 0 0 0 FRED TOMASELLI TRUSTEE 2.00 0.00 X 0 0 0 COLLEEN TOMPKINS TRUSTEE 2.00 0.00 X 0 0 0 AMANDA WALDRON TRUSTEE 2.00 0.00 X 0 0 0 SEAN WARD TRUSTEE 2.00 0.00 X 0 0 0 SUSAN WEBER TRUSTEE 2.00 0.00 X 0 0 0 KELLY WILLIAMS TRUSTEE 2.00 0.00 X 0 0 0 MATTHEW WILSON TRUSTEE 2.00 0.00 X 0 0 0 BOROUGH PRES ANTONIO REYNOSO EX-OFFICIO TRUSTEE (VOTING) 1.00 0.00 X 0 0 0 MAYOR ERIC ADAMS EX-OFFICIO TRUSTEE (VOTING) 1.00 0.00 X 0 0 0 DCA COMMISSR LAURIE CUMBO EX-OFFICIO TRUSTEE (VOTING) 1.00 0.00 X 0 0 0 SPEAKER ADRIENNE ADAMS EX-OFFICIO TRUSTEE (VOTING) 1.00 0.00 X 0 0 0 COMPTROLLER BRAD LANDER EX-OFFICIO TRUSTEE (VOTING) 1.00 0.00 X 0 0 0 NANCY BOWE NON-VOTING BOARD OF ADVISORS, CO-CHAIR 1.00 0.00 X 0 0 0 HOPE DANA NON-VOTING BOARD OF ADVISORS, CO-CHAIR 1.00 0.00 X 0 0 0 ANNE PASTERNAK SHELBY WHITE & LEON LEVY DIRECTOR 60.00 0.00 X 705906 0 27493 KIMBERLY PANICEK TRUEBLOOD PRESIDENT & COO (THRU 12/2024) 60.00 0.00 X 417895 0 9153 HEATHER LI THRU 052025 CHIEF FINANCIAL OFFICER 60.00 0.00 X 303000 0 18223 THOMAS C ROLLINS COO/CFO (AS OF 05/2025) 60.00 0.00 X 0 0 0 SHARON ATKINS DEPUTY DIRECTOR FOR ART 45.00 0.00 X 311131 0 29471 HARDAT RAYWAT DEPUTY DIR. FOR OPS., ENG. & FACIL. 45.00 0.00 X 291826 0 14900 CARLIN GOETTEL CHIEF DEVELOPMENT OFFICER 45.00 0.00 X 345219 0 5231 CATHERINE FUTTER DIRECTOR OF CURATORIAL AFFAIRS 45.00 0.00 X 181967 0 13660 KEONNA HENDRICK DEPUTY DIR. FOR LEARN. & SOCIAL IMP. 45.00 0.00 X 209505 0 24266 ASHA B KAUFMAN SENIOR PHILANTHROPIC ADVISOR 45.00 0.00 X 170942 0 2821 SOFIE H ANDERSEN THRU 0225 CHIEF MARKETING AND BRAND OFFICER 45.00 0.00 X 174186 0 2687 NANCY CURREY DIRECTOR OF HUMAN RESOURCES 45.00 0.00 X 177205 0 31116 3288782 0 179021 68 0 1 0 PROSKAUER ROSE LLP 111 WALL STREET NEW YORK NY 10043 LEGAL 1662502 SITUATION MARKETING LLC 469 7TH AVENUE NEW YORK NY 10018 MARKETING AND ADVERTISING 1318292 MASTERPIECE INTERNATIONAL LTD LLC 39 BROADWAY SUITE 1410 NEW YORK NY 10006 SHIPPING AND LOGISTICS 661975 SANCTUARY COMPUTER INC 110 BOWERY FL 4 NEW YORK NY 10013 DEVELOPMENT AND BRAND DESIGN SERVICES 610393 GONSOWSKI LAW PC 275 7TH AVENUE 7TH FLOOR NEW YORK NY 10001 LEGAL 585452 30 3252687 4499935 11830733 26756392 7903658 46339747 EXHIBITION & LOAN FEES 900099 2799400 2373220 426180 ADMIS./PUBLIC AFFAIRS 561499 2764617 2764617 SPECIAL EXHIBITIONS 611710 796429 796429 6360446 1893260 1893260 1208077 0 1208077 1208077 1208077 71990069 1199528 68036837 0 3953232 1199528 5152760 5152760 168100 4499935 1866701 -1698601 -1698601 1561052 1100075 460977 460977 INSURANCE REIMBURS. 900099 1716641 1716641 PARKING REVENUE 900099 140272 140272 POP-UP REVENUE 900099 87526 87526 39717 39717 1984156 61700822 6395243 0 8965832 2542783 623312 1569050 350421 28016065 20613797 3926824 3475444 3210851 2207982 671211 331658 6318269 4344838 1320800 652631 2575418 1831477 419803 324138 1751031 1751031 115065 115065 136600 136600 781756 781756 2678733 2678733 4873017 3429220 1443797 625090 622123 2966 1 3678444 3066205 162827 449412 1200709 536175 659313 5221 423368 338136 33861 51371 61473 14166 40085 7222 7159429 6750692 303894 104843 825522 362986 462536 ART ACQUISITION 2126989 2126989 RESEARCH & CURATORIAL 392854 367185 25514 155 CRATING/SHIPPING 235451 235451 FOOD AND ENTERTAINMENT 227051 214762 12289 0 981035 947408 33627 70937003 48769504 15633226 6534273 3115615 9743710 17415317 27935950 24397418 13387987 525542 1941487 495187 305211 613955 480761 254814246 104174600 153560570 150639646 40551216 27539526 149398326 166259377 2076651 1967888 392149797 400201543 6432277 5615345 3628335 2758966 31680649 19796887 41741261 28171198 X 193267258 201327490 157141278 170702855 350408536 372030345 392149797 400201543 X -9236181 21076672 9781318 X X 0 1 X 1 1 1 X 32405953 52443557 39259537 52137106 46339747 222585900 1395250 1916193 2131268 1814232 1986323 9243266 33801203 54359750 41390805 53951338 48326070 231829166 9990537 221838629 1908883 2470634 2168143 3116355 3101337 12765352 42117 519657 407274 648156 2152256 3769460 248363978 44717661 0.89320 0.91290 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INSURANCE REIMBURSEMENT - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 1,716,641. FUNDRAISING INCOME - 2020 AMOUNT: $ 18,455. 2021 AMOUNT: $ 172,750. 2022 AMOUNT: $ 176,150. 2023 AMOUNT: $ 170,600. 2024 AMOUNT: $ 168,100. PARKING REVENUE - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 140,272. POP-UP REVENUE - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 3,349. 2023 AMOUNT: $ 129,956. 2024 AMOUNT: $ 87,526. CAFE REVENUE - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 35,991. 2022 AMOUNT: $ 227,775. 2023 AMOUNT: $ 347,600. 2024 AMOUNT: $ 39,717. EVENT FEES - 2020 AMOUNT: $ 23,662. 2021 AMOUNT: $ 310,916. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 0 0 1 136500 136500 0 PART II-B, LINE 1: IN FISCAL YEAR 2025, THE MUSEUM ENGAGED THIRD PARTY CONSULTANTS TO CONDUCT LOBBYING ACTIVITIES ON ITS BEHALF. IN ADDITION, THE MUSEUM'S ON-STAFF GOVERNMENT RELATIONS OFFICER REPRESENTED THE MUSEUM IN CONNECTION WITH VARIOUS GOVERNMENTAL RELATIONS MATTERS AND COMMUNICATED WITH LEGISLATORS AND OTHER GOVERNMENT OFFICIALS. CONSULTANT, BENDER CANTONE CONSULTING, ALBANY, NY, $136,500 X X X X 1 197080050 3792366 23908646 20710984 204070078 175263118 4222837 26122575 8528480 197080050 160253612 3634551 19992268 8617313 175263118 181337939 8854822 -29086763 852386 160253612 106685533 45272788 30193023 813405 181337939 0.31770 0.47940 0.20290 0 0 243769449 100866434 142903015 5236768 3308166 1928602 5808029 5808029 150639646 GLOBAL EQUITIES FUNDS 84969248 F HEDGED EQUITIES FUNDS 36046495 F CREDIT AND PRIVATE DEBT 27976498 F PRIVATE EQUITY FUNDS 13522026 F REAL ESTATE FUNDS 3745110 F 166259377 ACCRUED POSTRETIREMENT HEALTH AND OTHER BENEFITS 18686064 OPERATING LEASE LIABILITY 696888 SPLIT INTEREST AGREEMENT 413935 19796887 X 86399650 21076672 1986323 1347790 24410785 61988865 2678733 -2966776 -288043 61700822 64777841 1986323 2966776 4953099 59824742 2678733 8433528 11112261 70937003 PART III, LINE 1A: THE MUSEUM'S ART COLLECTION IS MADE AVAILABLE TO ITS MEMBERS AND THE PUBLIC TO ENCOURAGE AND EXPAND THE STUDY AND APPRECIATION OF ART THROUGH A PROGRAM OF PUBLIC EXHIBITIONS, EDUCATION AND RESEARCH. COMPONENTS OF THE MUSEUM'S COLLECTION, WHICH HAVE BEEN ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED IN THE YEARS IN WHICH THE ITEMS ARE ACQUIRED AS DECREASES IN NET ASSETS IN ACCORDANCE WITH DONOR RESTRICTIONS ON THE ASSETS USED TO PURCHASE THE ITEMS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS BECAUSE THE MUSEUM DOES NOT HOLD COLLECTION ITEMS FOR SALE. PROCEEDS FROM DEACCESSIONS ARE ADDED TO DEACCESSION FUNDS WITHIN NET ASSETS WITHOUT DONOR RESTRICTIONS, AND ARE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTION AND DIRECT CARE. IN FY25, THE MUSEUM ACQUIRED $2,126,989 IN NEW ARTWORK; THIS AMOUNT IS REPORTED IN FORM 990, PART IX, LINE 24A. PART III, LINE 4: DESCRIPTION OF THE COLLECTION: THE BROOKLYN MUSEUM HOLDS COLLECTIONS THAT ARE BOTH BROAD AND DEEP, AND INCLUDE ART FROM AROUND THE WORLD AND FROM ANCIENT TIMES TO THE PRESENT. AS OF FY25, THE BROOKLYN MUSEUM'S COLLECTIONS ARE ORGANIZED AS FOLLOWS: 1. AMERICAN ART 2. ARTS OF ASIA 3. ARTS OF THE AMERICAS 4. ARTS OF AFRICA 5. CONTEMPORARY ART 6. DECORATIVE ARTS AND DESIGN 7. EGYPTIAN, CLASSICAL, AND ANCIENT NEAR EASTERN ART 8. ELIZABETH A. SACKLER CENTER FOR FEMINIST ART 9. EUROPEAN ART 10. FASHION AND MATERIAL CULTURE 11. PHOTOGRAPHY THESE CURATORIAL DIVISIONS ARE OVERSEEN BY THE DEPUTY DIRECTOR AND CHIEF CURATOR, WHO, IN TURN OVERSEES SENIOR AND JUNIOR CURATORS WORKING IN EACH OF THE COLLECTION AREAS. THE LIBRARY, CONSERVATION, REGISTRAR, EXHIBITIONS, AND COLLECTIONS MANAGEMENT DEPARTMENTS ASSIST WITH THE PRESERVATION, CATALOGUING, AND EXHIBITION OF WORKS FROM THE COLLECTION. THE BROOKLYN MUSEUM HAS ONE OF THE GREATEST COLLECTIONS IN THE COUNTRY; REENVISIONING THE COLLECTIONS' MEANING AND CONNECTION TO OUR WORLD AND AUDIENCES TODAY ENSURES ITS RELEVANCE AND VITALITY. THE BROOKLYN MUSEUM SEES ISSUES OF COLLECTING AS STRATEGICALLY INSEPERABLE FROM THE CONCERNS OF PRESENTATION IN OUR GALLERIES. BRINGING OUR VAST PANORAMA OF OBJECTS SUCCESSFULLY INTO THE FUTURE REQUIRES US TO MOVE AWAY FROM STRICTLY COMPARTMENTALIZED CONNOISSEURSHIP, INSTEAD THINKING ABOUT OUR COLLECTION AS A VITAL WHOLE. TODAY, OUR KNOWLEDGE OF HOW ART HISTORY AND SOCIAL HISTORY INTERACT ENCOURAGES US TO PRESENT THE MUSEUM'S EXPANSIVE HOLDINGS FROM A GLOBAL PERSPECTIVE, WITH PERMEABLE BOUNDARIES RATHER THAN RESTRICTIVE GEOGRAPHICAL OR HISTORICAL BORDERS. TO ACCOMPLISH THESE GOALS, EVERY OBJECT IN OUR COLLECTION MUST HELP US TO TELL THE STORY OF ART, BOLDLY AND COMPELLINGLY TO OUR AUDIENCES. THE BETTER WE TELL THE STORY, THE BROADER AND DEEPER OUR AUDIENCE'S PARTICIPATION IN IT WILL BE. BUILDING THE COLLECTION: NEW ACQUISITIONS ARE GUIDED BY A COLLECTIONS PLAN THAT WAS OFFICIALLY ADOPTED BY THE BOARD OF TRUSTEES AND IS REVIEWED BY THE COLLECTIONS COMMITTEE AND THE CURATORIAL TEAM ON A REGULAR BASIS. NEW ACQUISITIONS ARE CONSIDERED ACCORDING TO THE FOLLOWING CRITERIA: - WILL THE WORK BE IMMEDIATELY USEFUL IN THE GALLERIES AND WILL IT EXPAND THE VISITOR EXPERIENCE THERE? - WILL THE WORK BE TRANSFORMATIVE FOR THE COLLECTION? - CAN IT BE USED TO ILLUMINATE MORE THAN ONE COLLECTION AREA, AND BRIDGE THE GAPS BETWEEN COLLECTIONS AND CULTURES? - IS IT AN OBJECT OF TRUE EXCELLENCE, FULLY AUTHENTIC AND IN GOOD CONDITION? - DOES IT HAVE SPECIAL RESONANCE WITH WORKS ALREADY IN THE COLLECTION? WILL IT INCREASE THE USEFULNESS OF EXISTING COLLECTIONS BY MAKING THEM MORE UNDERSTANDABLE? SCHEDULE D, PART V, LINE 4: THE MUSEUM MAINTAINS SEVERAL DONOR-RESTRICTED FUNDS THE PURPOSE OF WHICH IS TO PROVIDE SUPPORT PRINCIPALLY FOR EXHIBITIONS, CURATORIAL AND EDUCATIONAL ACTIVITIES. IN CLASSIFYING SUCH FUNDS FOR FINANCIAL STATEMENT PURPOSES AS EITHER NET ASSETS WITH DONOR RESTRICTIONS OR NET ASSETS WITHOUT DONOR RESTRICTIONS, THE BOARD OF TRUSTEES LOOKS TO THE EXPLICIT DIRECTION OF THE RESPECTIVE DONOR AND PROVISIONS OF APPLICABLE NEW YORK STATE LAW. THE BOARD, IN COMPLIANCE WITH THE APPLICABLE STATE REGULATIONS, WILL APPROPRIATE AS MUCH OF NET APPRECIATION AS IS PRUDENT CONSIDERING THE MUSEUM'S LONG-TERM AND SHORT-TERM NEEDS, PRESENT AND ANTICIPATED FINANCIAL REQUIREMENTS, EXPECTED TOTAL RETURN ON ITS INVESTMENTS, PRICE LEVEL TRENDS AND GENERAL ECONOMIC CONDITIONS. UNDER THE MUSEUM'S SPENDING POLICY, THE ADJUSTED AVERAGE FAIR VALUE OF CERTAIN INVESTMENTS MEASURED AT DECEMBER 31 OF EACH OF THE 20 QUARTERS IMMEDIATELY PRECEDING IS MADE AVAILABLE ON EACH JULY 1 TO SUPPORT CURRENT OPERATIONS OF THE MUSEUM AND CERTAIN NONOPERATING ACTIVITIES AS DESIGNATED BY THE BOARD. DURING 2024, THE MUSEUM'S BOARD OF TRUSTEES APPROVED THE TRANSFER OF APPROXIMATELY $9.5 MILLION OF BOARD-DESIGNATED FUNDS TO BE USED IN OPERATIONS. PART X, LINE 2: FIN 48: THE MUSEUM FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE MUSEUM IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE MUSEUM HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE MUSEUM HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. IN ADDITION, THE MUSEUM HAS NOT RECORDED A PROVISION FOR INCOME TAXES AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: DEPRECIATION OF CAPITAL -6,306,539. ACQUISITIONS OF WORKS OF ART -2,126,989. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 118,161. CHANGE IN POSTRETIREMENT HEALTH AND OTHER BENEFITS 9,663,157. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -1,100,075. FUNDRAISING EXPENSES -1,866,701. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 1,100,075. FUNDRAISING EXPENSES 1,866,701. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPRECIATION OF CAPITAL 6,306,539. ACQUISITIONS OF WORKS OF ART 2,126,989. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 106720273 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 10303507 NORTH AMERICA 0 0 INVESTMENTS 1408811 0 0 0 0 0 0 118432591 0 118432591 1 0 1 1 1 0 FORM 990, SCHEDULE F, PART IV THE BROOKLYN MUSEUM INVESTS DIRECTLY IN CORPORATIONS DOMICILED OUTSIDE THE UNITED STATES AND IN DOMESTIC AND FOREIGN LIMITED PARTNERSHIPS THAT MAY OWN AN INTEREST IN A FOREIGN CORPORATION, PASSIVE FOREIGN INVESTMENT COMPANY, OR FOREIGN PARTNERSHIP. NEVERTHELESS, BROOKLYN MUSEUM'S INVESTMENT ACTIVITIES MAY NOT REACH THE THRESHOLDS REQUIRED FOR FILING THE FORMS 926, 5471, OR 8621. TO THE EXTENT SUCH A FORM WAS COMPLETED, IT HAS BEEN FILED WITH THE ORGANIZATION'S FORM 990-T. X X X X X X X 1 COMMUNITY COUNSELLING SERVICE CO LLC 527 MADISON AVE 5TH FL NEW YORK NY 10022 FUNDRAISING CONSULTANTS 0 0 495264 -495264 JENNIFER LEAO 50 GREENE AVE APT 3F BROOKLYN NY 11238 FUNDRAISING CONSULTANTS 0 0 37800 -37800 DANILLER & COMPANY 3724 JEFFERSON STREET SUITE 302 AUSTIN TX 78731 FUNDRAISING CONSULTANTS 0 0 226554 -226554 STELTER COMPANY 10435 NEW YORK AVE DES MOINES IA 50322 FUNDRAISING CONSULTANTS 0 0 22138 -22138 781756 -781756 NJ NY SPRING GALA 4668035 4499935 168100 394299 215649 1256753 4668035 4499935 168100 394299 215649 1256753 1866701 -1698601 SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE MUSEUM DOES NOT TRACK ITS DONATION DATA IN SUCH A FASHION AS TO PINPOINT SPECIFICALLY HOW MUCH EACH FUNDRAISER RAISED ON ITS BEHALF. FUNDRAISERS MAKE TOUCHPOINTS WITH DONORS THAT MAY NOT RESULT IN CONTRIBUTIONS FOR YEARS, NOR DOES THE MUSEUM SURVEY ITS DONORS TO SEE WHAT PROMPTED THEM TO DONATE TO THE MUSEUM. ACCORDINGLY, THE MUSEUM DOES NOT REPORT GROSS RECEIPTS FROM FUNDRAISING ACTIVITIES IN SCHEDULE G, PART I, LINE 2(B), COLUMN, IV. X 0 0 X X X X 0 0 0 0 0 0 0 1 0 ANNE PASTERNAK SHELBY WHITE & LEON LEVY DIRECTOR 605906 0 0 0 100000 0 6900 0 20593 0 733399 0 0 0 KIMBERLY PANICEK TRUEBLOOD PRESIDENT & COO (THRU 12/2024) 417895 0 0 0 0 0 4830 0 4323 0 427048 0 0 0 CARLIN GOETTEL CHIEF DEVELOPMENT OFFICER 345219 0 0 0 0 0 4830 0 401 0 350450 0 0 0 SHARON ATKINS DEPUTY DIRECTOR FOR ART 311131 0 0 0 0 0 6386 0 23085 0 340602 0 0 0 HEATHER LI THRU 052025 CHIEF FINANCIAL OFFICER 303000 0 0 0 0 0 4326 0 13897 0 321223 0 0 0 HARDAT RAYWAT DEPUTY DIR. FOR OPS., ENG. & FACIL. 291826 0 0 0 0 0 3821 0 11079 0 306726 0 0 0 KEONNA HENDRICK DEPUTY DIR. FOR LEARN. & SOCIAL IMP. 209505 0 0 0 0 0 4004 0 20262 0 233771 0 0 0 NANCY CURREY DIRECTOR OF HUMAN RESOURCES 158399 0 18806 0 0 0 3362 0 27754 0 208321 0 0 0 CATHERINE FUTTER DIRECTOR OF CURATORIAL AFFAIRS 181967 0 0 0 0 0 2575 0 11085 0 195627 0 0 0 SOFIE H ANDERSEN THRU 0225 CHIEF MARKETING AND BRAND OFFICER 174186 0 0 0 0 0 2471 0 216 0 176873 0 0 0 ASHA B KAUFMAN SENIOR PHILANTHROPIC ADVISOR 170942 0 0 0 0 0 2424 0 397 0 173763 0 0 0 PART I, LINE 1A ANNE PASTERNAK RECEIVED A HOUSING ALLOWANCE OF $100,000 IN CALENDAR YEAR 2024. THIS AMOUNT IS REFLECTED IN SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 7 DIRECTOR OF HUMAN RESOURCES, NANCY CURREY, RECEIVED A BONUS IN CALENDAR YEAR 2024 IN RECOGNITION OF HER OUTSTANDING SERVICE TO THE MUSEUM DURING A TRANSITIONAL PERIOD OF ORGANIZATIONAL RESTRUCTURING. THIS BONUS IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II). X 662 0 X 37 7903658 FMV 0 1 1 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE PIECES OF ART RECEIVED IN PART I, COLUMN (B) OF SCHEDULE M. PART I, LINE 32B: THE BROOKLYN MUSEUM OCCASIONALLY CONTRACTS WITH COMMERCIAL AUCTION HOUSES TO SELL CONTRIBUTIONS OF WORKS OF ART OR PERSONAL PROPERTY. THESE GIFTS MAY BE WORKS THAT HAVE BEEN PART OF THE COLLECTION WHICH HAVE BEEN DEACCESSIONED, OR THEY MAY, LESS FREQUENTLY, BE WORKS OF ART OR PERSONAL PROPERTY DONATED TO THE MUSEUM WITH THE SPECIFIC INTENTION THAT THEY BE SOLD TO REALIZE FUNDS IN CASH. THE BROOKLYN MUSEUM HAS STANDING CONTRACTS WITH SOME AUCTION HOUSES OUTLINING TERMS AND CONDITIONS FOR THIS PURPOSE; WITH OTHER AUCTION HOUSES, TERMS AND CONDITIONS ARE NEGOTIATED ON A CASE-BY-CASE BASIS. PART I, LINE 33: REVENUE NOT REPORTED IN PART I, COLUMN C CONTRIBUTED ARTWORK COLLECTION ITEMS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS BECAUSE THE MUSEUM DOES NOT HOLD COLLECTION ITEMS FOR RESALE. COMPONENTS OF THE MUSEUM'S COLLECTION, WHICH HAVE BEEN ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED IN THE YEARS IN WHICH THE ITEMS ARE ACQUIRED AS DECREASES IN NET ASSETS. FORM 990, PART III, LINE 1 (ORGANIZATION'S MISSION CONTINUED) OUR VISION IS TO BE THE PLACE WHERE ART IS A POWERFUL FORCE FOR PERSONAL TRANSFORMATION AND SOCIAL CHANGE. FOR 200 YEARS, THE BROOKLYN MUSEUM HAS BEEN RECOGNIZED AS A TRAILBLAZER. THROUGH A VAST ARRAY OF EXHIBITIONS, PUBLIC PROGRAMS, AND COMMUNITY-CENTERED INITIATIVES, IT CONTINUES TO BROADEN THE NARRATIVES OF ART, UPLIFT A MULTITUDE OF VOICES, AND CENTER CREATIVE EXPRESSION WITHIN IMPORTANT DIALOGUES OF THE DAY. HOUSED IN A LANDMARK BUILDING IN THE HEART OF BROOKLYN, THE MUSEUM IS HOME TO AN ASTOUNDING ENCYCLOPEDIC COLLECTION OF MORE THAN 140,000 OBJECTS REPRESENTING CULTURES WORLDWIDE AND OVER 6,000 YEARS OF HISTORY - FROM ANCIENT EGYPTIAN MASTERPIECES TO SIGNIFICANT AMERICAN WORKS, TO GROUNDBREAKING INSTALLATIONS PRESENTED IN THE ONLY FEMINIST ART CENTER OF ITS KIND. AS ONE OF THE OLDEST AND LARGEST ART MUSEUMS IN THE COUNTRY, THE BROOKLYN MUSEUM REMAINS COMMITTED TO INNOVATION, CREATING COMPELLING EXPERIENCES FOR ITS COMMUNITIES AND CELEBRATING THE POWER OF ART TO INSPIRE AWE, CONVERSATION, AND JOY. FORM 990, PART VI, SECTION A, LINE 4 THE BROOKLYN MUSEUM'S BYLAWS WERE SIGNIFICANTLY RESTATED AND INCLUDES THE FOLLOWING CHANGES: 1. OFFICERS NOW EXPLICITLY SERVE ONE-YEAR TERMS WITH ANNUAL RE-ELECTION. 2. "CAUSE" NOW INCLUDES FIDUCIARY BREACHES, FAILURE TO MEET FINANCIAL COMMITMENTS, AND DISRUPTIVE CONDUCT (NOT JUST ATTENDANCE). 3. COMMITTEE RESTRUCTURING AND RENAMING: -CREATION/RENAMING OF AUDIT AND RISK COMMITTEE (EXPANDED FROM AUDIT) -CREATION OF ADVANCEMENT AND ADVOCACY COMMITTEE (COMBINING NOMINATING/FUNDRAISING/ GOVERNMENT RELATIONS FUNCTIONS -SEVERAL STANDALONE COMMITTEES (E.G., GOVERNMENT RELATIONS, INSTITUTIONAL ADVANCEMENT) ARE FOLDED INTO BROADER COMMITTEES. 4. BOARD OF ADVISORS TERM SHORTENED FROM 3 YEARS TO 1 YEAR AND ADVISORS ARE NOW APPOINTED/REMOVED BY THE BOARD CHAIR RATHER THAN FULL BOARD ELECTION. 5. TIGHTENED INDEMNIFICATION LANGUAGE TO DAMAGES ARISING DIRECTLY FROM SERVICE TO THE MUSEUM. FORM 990, PART VI, SECTION B, LINE 11B PURSUANT TO THE MUSEUM'S BYLAWS, THE AUDIT AND RISK COMMITTEE IS RESPONSIBLE FOR REVIEWING AND APPROVING THE MUSEUM'S FORM 990. ADDITIONALLY, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE INVITED TO THE AUDIT AND RISK COMMITTEE MEETING AT WHICH THE FINAL DRAFT OF THE FORM 990 IS REVIEWED AND APPROVED PRIOR TO BEING FILED WITH THE IRS. PARTICIPATING IN THE REVIEW ARE THE BOARD CHAIR, VARIOUS OTHER OFFICERS OF THE BOARD AND SENIOR ADMINISTRATORS. FORM 990, PART VI, SECTION B, LINE 12C THE BROOKLYN MUSEUM HAS A CONFLICT OF INTEREST POLICY IN PLACE. THE POLICY AND DISCLOSURE GUIDELINES ARE DISTRIBUTED TO ALL TRUSTEES ON AN ANNUAL BASIS ALONG WITH A CONFLICT OF INTEREST QUESTIONNAIRE AND DISCLOSURE FORM THAT THEY MUST COMPLETE AND SIGN. COMPLETED QUESTIONNAIRES ARE REVIEWED BY THE GENERAL COUNSEL AND THE CHAIR OF THE AUDIT AND RISK COMMITTEE. TRUSTEES WITH CONFLICTS OR POTENTIAL CONFLICTS MUST RECUSE THEMSELVES FROM RELATED DISCUSSIONS AND THE DECISION-MAKING PROCESS, AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS BASED UPON COMPARABLE DATA AND FUNCTIONALLY COMPARABLE POSITIONS IN SIMILARLY SITUATED ORGANIZATIONS NATIONWIDE AS WELL AS MARKET-DRIVEN DATA FOR FUNCTIONS THAT FALL OUTSIDE MUSEUMS. COMPARABLE DATA INCLUDE INFORMATION FROM THE AAMD SURVEY, THE QUATT SURVEY, INFORMATION ON COMPARABLE INSTITUTIONS' 990S, AND APPROPRIATE MARKETPLACE SALARY COMPARISONS OUTSIDE THE FIELD. THE DIRECTOR'S SALARY IS BASED UPON CONTRACTS APPROVED BY THE TRUSTEES. IN REVIEWING THE AAMD SURVEY, THE MUSEUM AIMS TO ENSURE THAT ITS EXECUTIVES ARE PAID REASONABLE WAGES COMPARED TO ITS PEER INSTITUTIONS IN THE MARKET IN WHICH IT OPERATES. THE LEGAL DEPARTMENT KEEPS COPIES OF THE DETERMINATIONS AND RESULTS OF THE COMPENSATION PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE BROOKLYN MUSEUM'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AT MANAGEMENT'S DISCRETION. ADDITIONALLY, ITS IRS FORM 990 IS AVAILABLE TO THE PUBLIC ONLINE AT WWW.GUIDESTAR.ORG AND OTHER SIMILAR WEBSITES. FORM 990, PART XI, LINE 9: CHANGE IN POSTRETIREMENT HEALTH AND OTHER BENEFITS 9,663,157. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 118,161. PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT AND RISK COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.