2024-05-14T07:54:53-05:00 2023-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-07-01 111672743 THE BROOKLYN INSTITUTE OF ARTS AND SCIENCES BROO 7185016200 200 EASTERN PARKWAY BROOKLYN NY 112386052 HEATHER LI CHIEF FINANCIAL OFFICER 7185016200 2024-05-13 1 HEATHER LI XXX-XX-XXXX 1 SCOTT THOMPSETT P00741490 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KIMBERLY P TRUEBLOOD 200 EASTERN PARKWAY BROOKLYN NY 112386052 107233666 0 X WWW.BROOKLYNMUSEUM.ORG X 1890 NY BRING PEOPLE TOGETHER THROUGH ART & EXPERIENCES THAT INSPIRE CELEBRATION, COMPASSION & COURAGE. 58 58 572 0 8688 0 52443557 39259537 9524425 8626657 24889849 2097014 2082744 953985 88940575 50937193 0 0 0 0 32782784 37131989 260165 255857 5901566 22083496 24728368 55126445 62116214 33814130 -11179021 368357296 378108247 40546048 39185211 327811248 338923036 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 28300787 0 1405530 CURATORIAL AND EDUCATIONAL CURATORIAL - THE BROOKLYN MUSEUM STUDIES, PRESERVES AND EXHIBITS A VAST AND COMPREHENSIVE COLLECTION THAT SPANS NEARLY 5,000 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. IN FY23, 4 TRAVELING EXHIBITIONS WERE DRAWN FROM THE COLLECTION FOR PRESENTATION. EDUCATION - INNOVATIVE EDUCATION AND PUBLIC PROGRAMS SERVED APPROXIMATELY 41,808 110,921 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 HAVE HELPED BUILD ONE OF THE MOST DIVERSE AUDIENCES OF ANY MUSEUM IN THE NATION. EDUCATION PROGRAMS ARE CENTRAL TO THE MUSEUM'S MISSION OF FOCUSING AND ENRICHING THE EXPERIENCES OF OUR VISITORS. 7897976 0 268800 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. IN FY23, 11 SPECIAL EXHIBITIONS AND INSTALLATIONS DEVELOPED AND EXTENDED THE CULTURAL AND ART HISTORICAL THEMES OF THE MUSEUM'S COLLECTION. THESE EXHIBITIONS ATTRACTED ROBUST PUBLIC ATTENTION AND ENGAGED AUDIENCES OF ALL BACKGROUNDS AND AGES IN THE VISUAL ARTS. 3229274 0 6424741 PUBLIC AFFAIRS AND INFORMATION IN FY23, MORE THAN 600,000 VISITORS EXPLORED OUR EXTRAORDINARY PERMANENT COLLECTIONS, ATTENDED SPECIAL EXHIBITIONS AND PARTICIPATED IN OUR PUBLIC PROGRAMS. 1665743 0 1569065 MERCHANDISE OPERATIONS THE BROOKLYN MUSEUM SHOP EXTENDS OUR VISITORS' EXPERIENCE. OUR INVENTORY IS COMPRISED OF EXHIBITION-RELATED ITEMS, CATALOGS AND OTHER PUBLICATIONS. 1665743 0 1569065 41093780 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 1 184 0 1 572 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 58 58 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NJ NY X HEATHER LI 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 SARAH ARISON TRUSTEE 2.00 0.00 X 0 0 0 SASHA BASS TRUSTEE (AS OF 04/2023) 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 JILL K BERNSTEIN TRUSTEE 2.00 0.00 X 0 0 0 THOMAS BRODSKY TRUSTEE (AS OF 01/2023) 2.00 0.00 X 0 0 0 DEENIE BROSENS TRUSTEE 2.00 0.00 X 0 0 0 JAMES S CHANOS 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 KASSEEM DEAN 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 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 2.00 0.00 X 0 0 0 JENNIFER HERMAN-FELDMAN TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL FIELD TRUSTEE (AS OF 01/2023) 2.00 0.00 X 0 0 0 LORI FINKEL TRUSTEE 2.00 0.00 X 0 0 0 JOHN-ANDREW FORDE TRUSTEE 2.00 0.00 X 0 0 0 MICHAEL FRIBOURG 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 (AS OF 10/2022) 2.00 0.00 X 0 0 0 SUSAN HAYDEN TRUSTEE (THRU 02/2023) 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 (AS OF 01/2023) 2.00 0.00 X 0 0 0 MICHI JIGARJIAN TRUSTEE 2.00 0.00 X 0 0 0 RUTH JURGENSEN TRUSTEE (AS OF 01/2023) 2.00 0.00 X 0 0 0 ELIZABETH KAHANE TRUSTEE 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 0.00 0.00 X 0 0 0 LYNNE M MAGUIRE TRUSTEE 2.00 0.00 X 0 0 0 JOEL MALLIN TRUSTEE 2.00 0.00 X 0 0 0 JANET MOCK TRUSTEE 2.00 0.00 X 0 0 0 RICHARD W MOORE TRUSTEE EMERITUS (NON-VOTING) 2.00 0.00 X 0 0 0 VIK MUNIZ TRUSTEE 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 (AS OF 01/2023) 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 ROBERT SOROS TRUSTEE 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 (AS OF 10/2022) 2.00 0.00 X 0 0 0 SUSAN WEBER 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 (NON-VOTING) 1.00 0.00 X 0 0 0 MAYOR ERIC ADAMS EX-OFFICIO TRUSTEE (NON-VOTING) 1.00 0.00 X 0 0 0 DCA COMMISSR LAURIE CUMBO EX-OFFICIO TRUSTEE (NON-VOTING) 1.00 0.00 X 0 0 0 SPEAKER ADRIENNE ADAMS EX-OFFICIO TRUSTEE (NON-VOTING) 1.00 0.00 X 0 0 0 COMPTROLLER BRAD LANDER EX-OFFICIO TRUSTEE (NON-VOTING) 1.00 0.00 X 0 0 0 ANNE PASTERNAK MUSEUM DIRECTOR 60.00 0.00 X 1012633 0 47303 KIMBERLY PANICEK TRUEBLOOD PRESIDENT & CHIEF OPERATING OFFICER 60.00 0.00 X 335176 0 33878 FABIAN MILBURN JR CHIEF LEGAL OFF. & CHIEF OF STAFF 45.00 0.00 X 255391 0 37266 SHARON ATKINS DEPUTY DIRECTOR FOR ART 45.00 0.00 X 256357 0 43411 CATHERINE FUTTER DIRECTOR OF CURATORIAL AFFAIRS 45.00 0.00 X 170354 0 27566 ADJOA JONES DE ALMEDIA DEPUTY DIR. FOR LEARN. & SOCIAL IMP. 45.00 0.00 X 190218 0 30900 JAMES KELLY DEPUTY CHIEF OPERATING OFFICER 45.00 0.00 X 221850 0 41951 HOPE O'REILLEY DEPUTY DIR. & CHIEF DEVELOPMENT OFF. 45.00 0.00 X 329700 0 57203 KEONNA HENDRICK DIRECTOR OF DEIA 45.00 0.00 X 158246 0 29114 HARDAT RAYWAT DEPUTY DIR. FOR OPS., ENG. & FACIL. 45.00 0.00 X 190751 0 19436 CAROLYN DIANE ROYSTON DEPUTY DIRECTOR FOR ENGAGEMENT 45.00 0.00 X 218975 0 28665 ASHA BILLIMORIA KAUFMAN DIRECTOR OF INDIVIDUAL GIVING 45.00 0.00 X 155585 0 11691 KENNETH KURTZ ARCHITECT 45.00 0.00 X 144897 0 39027 DAVID L BERLINER FORMER PRESIDENT & COO 0.00 0.00 X 158433 0 11670 3798566 0 459081 52 1 1 0 PROSKAUER ROSE LLP 11 TIMES SQUARE NEW YORK NY 100368299 LEGAL 372824 KPMG PEAT MARWICK LLP 345 PARK AVENUE 40TH FLOOR NEW YORK NY 10154 ACCOUNTING 160000 SUSAN COURTEMANCHE 40 POWDER HORN HILL ROAD WILTON CT 06897 FUNDRAISING CONSULTANT 150000 US CHILLER SERVICES NEW YORK 83-40 72ND DRIVE GLENDALE NY 11385 MAINTENANCE 149317 ART WORLD SIGNS 25 LEFFERTS AVENUE APT 6Y BROOKLYN NY 11225 DESIGN 127625 7 2969571 2397100 10939552 22953314 861825 39259537 ADMIS./PUBLIC AFFAIRS 561499 6424741 6424741 EXHIBITION & LOAN FEES 900099 1933116 1405530 527586 SPECIAL EXHIBITIONS 611710 268800 268800 8626657 1527751 8688 1519063 640392 0 640392 640392 640392 49530858 608637 49570232 0 -39374 608637 569263 569263 176150 2397100 1662746 -1486596 -1486596 6632560 5063495 1569065 1569065 CAFE REVENUE 900099 227775 227775 POP-UP REVENUE 900099 3349 3349 231124 50937193 9668136 8688 2000832 3078906 2197517 533724 347665 9013 6433 1562 1018 24699930 18157195 4001014 2541721 2412550 602519 1779863 30168 5952085 1486497 4391162 74426 979505 579477 256144 143884 789614 183813 538292 67509 164384 164384 48900 48900 255857 255857 911715 911715 4047142 3160525 861713 24904 1042333 998003 44330 4015493 2130910 107043 1777540 557484 166775 367006 23703 851735 326669 11908 513158 52161 20962 28316 2883 6440488 6122336 266169 51983 723431 400069 323162 200 ART ACQUISITION 1278825 1278825 FOOD AND ENTERTAINMENT 671600 572878 98722 CRATING/SHIPPING 209085 209085 RESEARCH & CURATORIAL 157719 139250 17852 617 2766259 2305142 461117 62116214 41093780 15120868 5901566 3881740 11775915 13259659 8252782 8781615 13689306 2016652 1176950 2137427 992743 1746454 1896132 238292139 90299011 150019580 147993128 40326941 43937053 144916228 146216999 1271000 2177239 368357296 378108247 6029437 4776043 4122687 3798522 30393924 30610646 40546048 39185211 X 194488676 183823559 133322572 155099477 327811248 338923036 368357296 378108247 X -11179021 20630629 1660180 X X 0 1 X 1 1 1 X 29763780 26354345 32405953 52443557 39259537 180227172 1898377 1995823 1395250 1916193 2131268 9336911 31662157 28350168 33801203 54359750 41390805 189564083 3510873 186053210 3130238 3127677 1908883 2470634 2168143 12805575 779166 463902 42117 519657 407274 2212116 204581774 44103972 0.90940 0.90330 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: EVENT FEES - 2018 AMOUNT: $ 350,500. 2019 AMOUNT: $ 395,199. 2020 AMOUNT: $ 23,662. 2021 AMOUNT: $ 310,916. 2022 AMOUNT: $ 227,775. FUNDRAISING INCOME - 2018 AMOUNT: $ 269,975. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 18,455. 2021 AMOUNT: $ 172,750. 2022 AMOUNT: $ 176,150. POP-UP REVENUE - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 3,349. CAFE REVENUE - 2018 AMOUNT: $ 158,691. 2019 AMOUNT: $ 68,703. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 35,991. 2022 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 0 0 1 48900 48900 0 PART II-B, LINE 1: IN FISCAL YEAR 2023, 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. TYPE, NAME, SCOPE, COSTS CONSULTANT, BENDER CANTONE CONSULTING, ALBANY, NY, $48,750 CONSULTANT, NYS JOINT COMMISSION, NYS, $150 TOTAL $48,900 X X X X 1 160253612 3634551 19992268 8617313 175263118 181337939 8854822 -29086763 852386 160253612 106685533 45272788 30193023 813405 181337939 110377143 5540415 -498343 8733682 106685533 108967816 4491739 5668104 8750516 110377143 0.36000 0.52930 0.11070 0 0 228338995 88465192 139873803 3566648 1833819 1732829 6386496 6386496 147993128 GLOBAL EQUITIES FUNDS 69694718 F HEDGED EQUITIES FUNDS 44767435 F CREDIT AND PRIVATE DEBT 23170945 F PRIVATE EQUITY FUNDS 4957360 F REAL ESTATE FUNDS 3626541 F 146216999 ACCRUED POSTRETIREMENT HEALTH AND OTHER BENEFITS 29333262 OPERATING LEASE LIABILITY 906239 SPLIT INTEREST AGREEMENT 371145 30610646 X 73664460 20630629 2131268 -5849156 16912741 56751719 911715 -6726241 -5814526 50937193 62552672 2131268 6726241 8857509 53695163 911715 7509336 8421051 62116214 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 FY23, THE MUSEUM ACQUIRED $1,278,825 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 FY23, 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 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 DIVERSE 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? IN FY23, MORE THAN 600,000 VISITORS EXPLORED THE MUSEUM'S WIDE-RANGING COLLECTIONS. ADDITIONALLY, 11 SPECIAL EXHIBITIONS, AND 1 TOURING EXHIBITION DEVELOPED AND EXTENDED CULTURAL AND ART HISTORICAL THEMES SUPPORTED BY THE MUSEUM'S RICH COLLECTIONS. SCHEDULE D, PART V, LINE 4: THE BOARD, IN COMPLIANCE WITH THE APPLICABLE STATE REGULATIONS, WILL APPROPRIATE AS MUCH OF NET APPRECIATION AS IS PRUDENT CONSIDERING THE MUSEUM'S LONG- 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. 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 -5,830,412. ACQUISITIONS OF WORKS OF ART -1,278,825. RESCINDED PLEDGES -400,099. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 291,731. CHANGE IN POSTRETIREMENT HEALTH AND OTHER BENEFITS 1,368,449. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -5,063,495. FUNDRAISING EXPENSES -1,662,746. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 1,662,746. COST OF GOODS SOLD 5,063,495. PART XII, LINE 4B - OTHER ADJUSTMENTS: DEPRECIATION OF CAPITAL 5,830,412. ACQUISITIONS OF WORKS OF ART 1,278,825. RESCINDED PLEDGES 400,099. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 110450160 SUB-SAHARAN AFRICA 0 0 INVESTMENTS 3267929 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 935830 0 0 0 0 0 0 114653919 0 114653919 1 0 1 1 1 0 PART III ACCOUNTING METHOD: 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 DANILLER & COMPANY 3724 JEFFERSON ST SUITE 302 AUSTIN TX 78731 FUNDRAISING CONSULTANTS 0 0 54587 -54587 SUSAN COURTEMANCHE 40 POWDER HORN HILL RD WILTON CT 06897 FUNDRAISING CONSULTANTS 0 0 201000 -201000 255587 -255587 NJ NY SPRING GALA 2573250 2397100 176150 1433432 229314 2573250 2397100 176150 1433432 229314 1662746 -1486596 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 X 0 0 0 0 0 0 0 1 0 ANNE PASTERNAK MUSEUM DIRECTOR 582633 0 275000 0 155000 0 33855 0 13448 0 1059936 0 0 0 HOPE O'REILLEY DEPUTY DIR. & CHIEF DEVELOPMENT OFF. 329700 0 0 0 0 0 33855 0 23348 0 386903 0 0 0 KIMBERLY PANICEK TRUEBLOOD PRESIDENT & CHIEF OPERATING OFFICER 335176 0 0 0 0 0 33855 0 23 0 369054 0 0 0 SHARON ATKINS DEPUTY DIRECTOR FOR ART 256357 0 0 0 0 0 29592 0 13819 0 299768 0 0 0 FABIAN MILBURN JR CHIEF LEGAL OFF. & CHIEF OF STAFF 255391 0 0 0 0 0 29011 0 8255 0 292657 0 0 0 JAMES KELLY DEPUTY CHIEF OPERATING OFFICER 221350 0 500 0 0 0 26640 0 15311 0 263801 0 0 0 CAROLYN DIANE ROYSTON DEPUTY DIRECTOR FOR ENGAGEMENT 218975 0 0 0 0 0 28583 0 82 0 247640 0 0 0 ADJOA JONES DE ALMEDIA DEPUTY DIR. FOR LEARN. & SOCIAL IMP. 190218 0 0 0 0 0 23209 0 7691 0 221118 0 0 0 HARDAT RAYWAT DEPUTY DIR. FOR OPS., ENG. & FACIL. 172959 0 17792 0 0 0 19436 0 0 0 210187 0 0 0 CATHERINE FUTTER DIRECTOR OF CURATORIAL AFFAIRS 170354 0 0 0 0 0 19436 0 8130 0 197920 0 0 0 KEONNA HENDRICK DIRECTOR OF DEIA 158246 0 0 0 0 0 21151 0 7963 0 187360 0 0 0 KENNETH KURTZ ARCHITECT 144897 0 0 0 0 0 17760 0 21267 0 183924 0 0 0 DAVID L BERLINER FORMER PRESIDENT & COO 158433 0 0 0 0 0 0 0 11670 0 170103 0 0 0 ASHA BILLIMORIA KAUFMAN DIRECTOR OF INDIVIDUAL GIVING 155585 0 0 0 0 0 0 0 11691 0 167276 0 0 0 PART I, LINE 7 THE MUSEUM ISSUED A DISCRETIONARY RETENTION BONUS TO HARDAT RAYWAT, DIRECTOR OF ENGINEERING AND FACILITIES MANAGEMENT, IN RECOGNITION OF EXCELLENT WORK PERFORMANCE IN CALENDAR YEAR 2022. THIS AMOUNT IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II). SCHEDULE J COMPENSATION REPORTING FOR THE MUSEUM'S DIRECTOR AS A RESULT OF ANNE PASTERNAK TAKING A VOLUNTARY REDUCTION IN COMPENSATION DURING THE COVID-19 PANDEMIC TO SUPPORT THE MUSEUM DURING A CHALLENGING FINANCIAL PERIOD, THE MUSEUM MADE A ONE-TIME CATCH-UP PAYMENT OF $55,000 IN CALENDAR YEAR 2022. LIKEWISE, TO HELP OUT THE MUSEUM DURING A DIFFICULT FINANCIAL PERIOD, ANNE PASTERNAK HAD DEFERRED FIVE YEARS OF CONTRACTUAL ANNUAL BONUSES IN RECOGNITION OF HER OUTSTANDING PERFORMANCE. THE BOARD THEREFORE ISSUED AS A LUMP SUM ONE-TIME PAYMENT IN CALENDAR YEAR 2022 OF $330,000 TO MAKE HER SALARY WHOLE. AFTER FIVE YEARS OF SERVICE, IN LIEU OF A RAISE, ANNE PASTERNAK ASKED AND RECEIVED A HOUSING ALLOWANCE OF $100,000 IN CALENDAR YEAR 2022. THIS AMOUNT IS REFLECTED IN SCHEDULE J, PART II, COLUMN (B)(II). X 126 0 X 36 861825 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 SUCH AS SOTHEBY'S OR CHRISTIE'S 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 I, LINE 1 (DESCRIPTION OF ORGANIZATION'S MISSION CONTINUED) WE BRING PEOPLE TOGETHER THROUGH ART AND EXPERIENCES THAT INSPIRE CELEBRATION, COMPASSION, COURAGE, AND THE WILL TO ACT. FORM 990, PART III, LINE 1 (DESCRIPTION OF ORGANIZATION'S MISSION CONTINUED) OUR VISION IS TO BE THE PLACE WHERE ART IS A POWERFUL FORCE FOR PERSONAL TRANSFORMATION AND SOCIAL CHANGE. WITH ROOTS EXTENDING FROM 1825, THE MUSEUM IS ONE OF THE OLDEST AND LARGEST ART MUSEUMS IN THE UNITED STATES. ITS ENCYCLOPEDIC COLLECTION REPRESENTS MORE THAN 5,500 YEARS OF ARTISTIC CREATIVITY, HOUSED IN A GRAND 560,000 SQUARE-FOOT BEAUX ARTS BUILDING DESIGNED BY MCKIM, MEAD & WHITE. GENERALLY CONSIDERED TO BE AMONG THE HIGHEST QUALITY ARE THE ANCIENT EGYPTIAN COLLECTION; THE ARTS OF THE AMERICAS COLLECTION, WHICH INCLUDES PRE-COLUMBIAN OBJECTS, SPANISH COLONIAL PAINTING, AS WELL AS 19TH AND EARLY 20TH CENTURY AMERICAN PAINTING, SCULPTURE AND DECORATIVE ARTS; AND THE ASIAN AND MIDDLE EASTERN COLLECTIONS. THE MUSEUM IS ALSO HOME TO THE ELIZABETH A. SACKLER CENTER FOR FEMINIST ART, THE ONLY CENTER OF ITS KIND IN A MUSEUM. A DISTINGUISHED RECORD OF GROUNDBREAKING EXHIBITIONS, CANON-EXPANDING SCHOLARSHIP, AND RICH EDUCATION AND PUBLIC PROGRAMS, WHICH DRAW AN AUDIENCE OF HALF A MILLION EACH YEAR, FURTHER ENHANCE OUR WORLD-RENOWNED HOLDINGS. THE MUSEUM IS GROUNDED IN THE EARLY EGALITARIAN IDEALS OF OUR NATION; FROM THE VERY BEGINNING, OUR ESSENTIAL PURPOSE HAS BEEN THE "EDUCATION AND INSPIRATION OF ALL THE PEOPLE." ALWAYS AN INNOVATOR, THE BROOKLYN MUSEUM HAS LAUNCHED MANY FIRSTS, INCLUDING THE GROUNDBREAKING RETROSPECTIVE OF GEORGIA O'KEEFFE IN 1927. THE MUSEUM WAS ALSO THE FIRST ART MUSEUM IN THE U.S. TO LAUNCH A FORMAL EDUCATION DEPARTMENT, IN-HOUSE CONSERVATION, AND A PHOTOGRAPHY SCHOOL; BUILD A LARGE-SCALE COLLECTION OF KOREAN ART; AND MOUNT A MAJOR SURVEY OF AFRICAN ART. NEARLY 200 YEARS AGO THE MUSEUM BEGAN BY PREPARING BROOKLYN'S UNEMPLOYED AND UNEDUCATED BOYS AND MEN FOR THE WORKFORCE, BEFORE THE ADVENT OF FREE PUBLIC EDUCATION IN NEW YORK CITY, OFFERING INSTRUCTION IN GRAMMAR; WRITING; BOOKKEEPING; AND ARCHITECTURAL, FIGURAL, MECHANICAL AND LANDSCAPE DRAWING. AND TODAY MORE THAN ONE-THIRD OF OUR ANNUAL VISITORSHIP BENEFITS FROM THE MUSEUM'S EDUCATION PROGRAMS, WHICH PROVIDE VITAL OPPORTUNITIES TO DRAW PERSONAL CONNECTIONS TO WORLD-CLASS COLLECTIONS AND EXHIBITIONS; STRENGTHEN LIFELONG LEARNING AND CRITICAL THINKING; AND FOSTER INCLUSION. FORM 990, PART VI, SECTION B, LINE 11B THE BROOKLYN MUSEUM'S BOARD OF TRUSTEES HAS DELEGATED RESPONSIBILITY AND OVERSIGHT FOR THE FORM 990 TO THE FINANCE COMMITTEE. THE FORM 990 IS PREPARED BY THE MUSEUM'S AUDITORS WITH DIRECT INPUT FROM THE MUSEUM'S ADMINISTRATION. A COMPLETE ELECTRONIC COPY OF THE FORM 990 IS SUPPLIED TO THE ENTIRE BOARD OF TRUSTEES FOR COMMENT PRIOR TO FILING. ADDITIONALLY, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE INVITED TO THE FINANCE COMMITTEE MEETING AT WHICH THE FINAL DRAFT OF THE FORM 990 IS REVIEWED AND APPROVED PRIOR TO BEING FILED WITH THE IRS. THE BOARD'S TREASURER SERVES AS THE CHAIR OF THE FINANCE COMMITTEE. 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, PRESIDENT AND CHIEF OPERATING OFFICER, AND THE CHAIR OF THE AUDIT 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 THE COMPENSATION COMMITTEE IS RESPONSIBLE FOR DETERMINING COMPENSATION FOR SENIOR-LEVEL ADMINISTRATIVE AND KEY EMPLOYEES. 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 AND PRESIDENT'S SALARIES ARE BASED UPON CONTRACTS APPROVED BY THE TRUSTEES. THE BOARD AND COMPENSATION COMMITTEE COMMISSIONED A CURRENT COMPENSATION STUDY IN 2021 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 1,368,449. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 291,731. PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT 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.