2023-11-13T15:01:32-06:00 2022-12-31 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-01-01 135562233 SOLOMON R GUGGENHEIM FOUNDATION SOLO 2123604216 1071 FIFTH AVENUE NEW YORK NY 10128 MARTHA WITHINGTON CFO 2123604216 2023-11-13 1 MARTHA WITHINGTON XXX-XX-XXXX 0 DANIEL ROMANO P00504182 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RICHARD D ARMSTRONG 1071 FIFTH AVENUE NEW YORK NY 10128 94636094 0 X WWW.GUGGENHEIM.ORG X 1937 NY COMMITTED TO INNOVATION, THE SOLOMON R. GUGGENHEIM FOUNDATION COLLECTS, (CONTINUED ON SCHEDULE O) 27 26 536 0 605042 53462 49104795 44263492 16458901 28149438 6248604 -310705 1354362 3831585 73166662 75933810 0 0 0 0 31302789 35995704 100894 137405 4937115 30631852 35024220 62035535 71157329 11131127 4776481 240294871 232151018 104617477 111230668 135677394 120920350 X COMMITTED TO INNOVATION, THE SOLOMON R. GUGGENHEIM FOUNDATION (THE "FOUNDATION") COLLECTS, (CONTINUED ON SCHEDULE O) 0 0 16423180 0 0 AS PART OF ITS MISSION, THE FOUNDATION COLLECTS AND PRESERVES ART FOR THE BENEFIT OF THE PUBLIC IN SEVERAL WAYS. THE FOUNDATION STUDIES THE ART IN THE FOUNDATION'S POSSESSION AND PLANS INTERNATIONAL EXHIBITIONS FOR PUBLIC VIEWING. THE FOUNDATION ALSO LENDS MANY OF THE WORKS OF ART IN ITS COLLECTION TO OTHER MUSEUMS ON THE OCCASION OF SPECIAL EXHIBITIONS THAT ARE OF SCHOLARLY MERIT OR THAT WILL BROADEN THE PUBLIC'S APPRECIATION OF ART. THE FOUNDATION MAINTAINS EXTENSIVE CLIMATE-CONTROLLED, HIGHLY SECURE STORAGE FACILITIES FOR THE ART IN ITS COLLECTION. IT ALSO OPERATES A PHOTOGRAPHY STUDIO FOR THE DOCUMENTATION OF ART AND ARCHIVES TO STORE PHOTOGRAPHS OF ART AND MAKE THEM AVAILABLE TO THE PUBLIC FOR PUBLICATION OR STUDY. (CONTINUED ON SCHEDULE O) 13643512 0 11106202 EXHIBITIONS PRESENTED IN 2022 AT THE SOLOMON R. GUGGENHEIM MUSEUM IN NEW YORK (THE "GUGGENHEIM MUSEUM") INCLUDED: ETEL ADNAN, LIGHT'S NEW MEASURE (OCTOBER 22, 2021 - JANUARY 10, 2022); VASILY KANDINSKY: AROUND THE CIRCLE (OCTOBER 22, 2021 - SEPTEMBER 5, 2022); GILLIAN WEARING, WEARING MASKS (NOVEMBER 5, 2021 - APRIL 4, 2022); JENNIE C. JONES, DYNAMICS (FEBRUARY 4 - MAY 2, 2022); CECILIA VICUNA: SPIN SPIN TRIANGULENE (MAY 27 - SEPTEMBER 5, 2022); EVA HESSE, EXPANDED EXPANSION (JULY 8 - OCTOBER 16, 2022); SENSORY POETICS (JULY 8 - OCTOBER 16, 2022); ALEX KATZ, GATHERING (OCTOBER 21, 2022 - FEBRUARY 20, 2023); AND NICK CAVE, FOROTHERMORE (NOVEMBER 18, 2022 - APRIL 10, 2023). (CONTINUED ON SCHEDULE O). 6382065 0 16391200 DURING 2022, THE FOUNDATION DIRECTLY OPERATED TWO MUSEUMS: THE SOLOMON R. GUGGENHEIM MUSEUM IN NEW YORK AND THE PEGGY GUGGENHEIM COLLECTION IN VENICE. BOTH MUSEUMS ARE OPEN TO THE PUBLIC, CONDUCT VIRTUAL TOURS OF EXHIBITIONS AND PROVIDE EDUCATIONAL TEXTS FREE OF CHARGE IN FULLFILMENT OF THE FOUNDATION'S MISSION. THE GUGGENHEIM MUSEUM WAS OPEN TO THE PUBLIC ONE EVENING OF EACH WEEK ON A PAY-WHAT-YOU-WISH BASIS, HOSTED ONE OPEN ACCESS WEEKEND IN NOVEMBER 2022 WHICH OFFERED FREE ADMISSION TO ALL VISITORS AND OFFERED REDUCED-PRICE TICKETS TO STUDENTS AND SENIOR CITIZENS. CHILDREN UNDER THE AGE OF 12 ARE ADMITTED FOR FREE. 9330671 0 652036 (1) DISSEMINATING CURRENT SCHOLARSHIP AND PROMOTING LEARNING ARE THE PRIMARY GOALS OF THE MANY EXHIBITION AND COLLECTION CATALOGUES PRODUCED BY THE FOUNDATION. PUBLICATIONS PRESENT SCHOLARLY AND INSTRUCTIVE ART HISTORICAL INFORMATION IN THE FORM OF ESSAYS THAT CONTEXTUALIZE ART WITHIN LARGER MOVEMENTS OR DISCIPLINES; IN-DEPTH DISCUSSIONS OF INDIVIDUAL ARTWORKS; INTERVIEWS WITH ARTISTS AND REFERENCE TOOLS SUCH AS BIBLIOGRAPHIES, BIOGRAPHIES, CHRONOLOGIES, AND EXHIBITION HISTORIES. PUBLICATIONS IN 2022 INCLUDED ALEX KATZ: GATHERING AND REPRINTS OF JOSEF ALBERS IN MEXICO AND HILMA AF KLINT: PAINTINGS FOR THE FUTURE. (2) SIGNIFICANT EXHIBITION, COLLECTIONS, EDUCATION, AUDIO, VIDEO, AND CATALOGUES ARCHIVES CONTENT IS AVAILABLE TO THE PUBLIC, FREE OF CHARGE, ON GUGGENHEIM.ORG INCLUDING MORE THAN 1,920 ARTWORKS BY MORE THAN 700 ARTISTS IN THE COLLECTION ONLINE. IN 2022 THE FOUNDATION PUBLISHED 23 VIDEOS AND 226 AUDIO TRACKS, BRINGING THE TOTAL VIDEOS AVAILABLE ON THE SITE TO MORE THAN 620 AND AUDIO TRACKS TO NEARLY 1,400. ADDITIONALLY IN 2022, THE FOUNDATION PUBLISHED 21 BLOG POSTS THAT PROVIDE INSIGHTS INTO EXHIBITIONS, CONTEMPORARY ART, GLOBAL CULTURE, AND MUSEUM ARCHIVES AND HISTORY, BRINGING THE TOTAL NUMBER AVAILABLE ONLINE TO OVER 1,100. IN 2022, GUGGENHEIM.ORG HAD APPROXIMATELY 4,205,403 USER SESSIONS, 2,881,592 USERS AND 21,384,396 PAGE VIEWS. THE BLOOMBERG CONNECTS APP HAS PROVIDED DEEP ENGAGEMENT FOR DIVERSE AUDIENCES WITH THE GUGGENHEIM MUSEUM'S MODERN AND CONTEMPORARY ART, IN THE MUSEUM AND AT HOME. THE DOWNLOADABLE APP WAS INSTALLED OVER 9,300 TIMES AND USED MORE THAN 12,100 TIMES IN 2022. IN 2022, THE FOUNDATION'S EDUCATION AND PUBLIC ENGAGEMENT DEPARTMENTS DEMONSTRATED THE FOUNDATION'S COMMITMENT TO SERVING AUDIENCES AND WELCOMING VISITORS THROUGH A COMBINATION OF ONSITE AND VIRTUAL ENGAGEMENT. THE EDUCATION DEPARTMENT OFFERED IN-PERSON PROGRAMMING FOR SCHOOL, YOUTH, FAMILY, AND ADULT AUDIENCES. IN ADDITION, THE FOUNDATION'S LEARNING THROUGH ART PROGRAM CONTINUED TO BRING LIVE INSTRUCTION TO 51 CLASSROOMS ACROSS THE FIVE BOROUGHS OF NEW YORK CITY AND MOUNTED A SIX WEEK EXHIBITION OF STUDENT WORK IN THE GUGGENHEIM MUSEUM. IN 2022, PROGRAMS FOR TEENS INCLUDED ACADEMIC YEAR PAID OPPORTUNITIES, TEEN NIGHTS, AND SUMMER AND SCHOOL BREAK INTENSIVE COURSES. THE ACADEMIC ENGAGEMENT DEPARTMENT HOSTED BOTH AN INTERNSHIP PROGRAM AND A VIRTUAL SUMMER COLLEGE WORKSHOP.THE FOUNDATION'S PUBLIC PROGRAMS DEPARTMENT CONTINUED TO OFFER BOTH IN-PERSON AND ONLINE PROGRAMS, SERVING OVER 2042 PARTICIPANTS. THE NEW POET-IN-RESIDENCE INITIATIVE, WHICH IS CO-PRESENTED WITH THE ACADEMY OF AMERICAN POETS, PRODUCED POETRY AUDIO TRACKS AND VIDEO DOCUMENTS. THE FOUNDATION ALSO PRESENTED ITS LONGEST STANDING SCHOLARLY LECTURE PROGRAM, THE ANNUAL HILLA REBAY LECTURE, TO A VIRTUAL AUDIENCE IN 2022. (3) THE FOUNDATION EDUCATED THE GENERAL PUBLIC THROUGH FREE WITH ADMISSION GUIDED AUDIO TOURS, THE GALLERY GUIDE PROGRAM, WEEKLY FAMILY PROGRAMS AND FILM SCREENINGS, COURSES, LECTURES, SYMPOSIA, PERFORMANCES, AND OTHER PROGRAMS. THE GUGGENHEIM MUSEUM WELCOMES STUDENTS AT ALL PUBLIC PROGRAMS AND OFFERS DISCOUNTED OR COMPLIMENTARY TICKETS TO STUDENTS WITH VALID ID. THE FOUNDATION'S MIND'S EYE PROGRAM EXPLORED CURRENT EXHIBITIONS THROUGH TELECONFERENCE MEETINGS, VIRTUAL TOURS, AND VERBAL DESCRIPTIONS FOR VISITORS WHO ARE BLIND OR HAVE LOW VISION. VISITORS WHO ARE DEAF OR HARD OF HEARING WERE SERVED THROUGH ASL-INTERPRETED VIDEOS. FAMILY PROGRAMS WERE AVAILABLE TO VISITORS ONSITE EVERY SUNDAY, ENCOURAGING THEM TO EXPLORE THE GUGGENHEIM MUSEUM THROUGH FAMILY TOURS AND ART MAKING WORKSHOPS BOTH IN THE GALLERIES AND IN THE MUSEUM'S STUDIO SPACE. K-12 SCHOOL GROUPS PARTICIPATED IN INTERACTIVE MUSEUM TOURS THAT WERE CUSTOMIZED FOR CHILDREN WITH DEVELOPMENTAL OR SPECIAL NEEDS THROUGH THE GUGGENHEIM FOR ALL INITATIVE. THE FOUNDATION CONTINUED TO OFFER K-12 SCHOOL TOURS FOR NYC PUBLIC SCHOOL STUDENTS AT NO COST. (4) THE GUGGENHEIM ABU DHABI WILL BE LOCATED IN THE CULTURAL DISTRICT OF SAADIYAT ISLAND IN ABU DHABI, THE CAPITAL OF THE UNITED ARAB EMIRATES (UAE). DESIGNED BY INTERNATIONALLY RENOWNED ARCHITECT FRANK GEHRY, THE FUTURE MUSEUM WILL HOUSE ITS OWN MODERN AND COMTEMPORARY ART COLLECTION AND PRESENT SPECIAL EXHIBITIONS. 9330671 0 652036 45779428 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 1 1 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 X 268 0 1 536 1 1 1 1 BD CA CJ EI IT LU UK VI UC 0 0 0 1 1 0 0 0 0 0 0 X 27 26 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AK AZ AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA WA WV WI X X COLETTE CHESTNUT 2123604216 1071 FIFTH AVENUE NEW YORK NY 10128 RICHARD ARMSTRONG TRUSTEE/DIR. OF MUSEUM & FDTN. 40.00 0.00 X X 819010 0 771418 JON IMANOL AZUA TRUSTEE 3.00 0.00 X 0 0 0 LISA BAKER TRUSTEE 3.00 0.00 X 0 0 0 ABIGAIL WILLIAMS BARATTA TRUSTEE (AS OF 06/2022) 3.00 0.00 X 0 0 0 CINDY CHUA-TAY TRUSTEE 3.00 0.00 X 0 0 0 PAUL CRONSON TRUSTEE 3.00 0.00 X 0 0 0 DIMITRIS DASKALOPOULOS TRUSTEE/VICE-PRESIDENT 5.00 0.00 X X 0 0 0 CHARLES M DIKER TRUSTEE/VICE-PRESIDENT 5.00 0.00 X X 0 0 0 THOMAS R ELLIS TRUSTEE 5.00 0.00 X 0 0 0 GAIL MAY ENGELBERG TRUSTEE 5.00 0.00 X 0 0 0 WENDY FISHER TRUSTEE/PRESIDENT 8.00 0.00 X X 0 0 0 ANDREW GUNDLACH TRUSTEE 3.00 0.00 X 0 0 0 J TOMILSON HILL TRUSTEE/CHAIR 8.00 0.00 X X 0 0 0 RASHID JOHNSON TRUSTEE/VICE-PRESIDENT 5.00 0.00 X X 0 0 0 FRANCESCA LAVAZZA TRUSTEE 3.00 0.00 X 0 0 0 PETER LAWSON-JOHNSTON TRUSTEE/HONORARY CHAIR 3.00 0.00 X X 0 0 0 PETER LAWSON-JOHNSTON II TRUSTEE 3.00 0.00 X 0 0 0 WILLIAM L MACK TRUSTEE/CHAIR EMERITUS 5.00 0.00 X 0 0 0 LINDA MACKLOWE TRUSTEE/VICE-PRESIDENT 3.00 0.00 X X 0 0 0 WENDY L-J MCNEIL TRUSTEE/VICE-PRESIDENT 5.00 0.00 X X 0 0 0 VLADIMIR O POTANIN TRUSTEE (THRU 03/2022) 2.00 0.00 X 0 0 0 CLAUDIA RANKINE TRUSTEE 3.00 0.00 X 0 0 0 STEPHEN ROBERT TRUSTEE/TREASURER 5.00 0.00 X X 0 0 0 BRIAN ROBINSON TRUSTEE 3.00 0.00 X 0 0 0 DENISE SAUL TRUSTEE/VICE-PRESIDENT 5.00 0.00 X X 0 0 0 BARBARA SLIFKA TRUSTEE 3.00 0.00 X 0 0 0 MARK R WALTER TRUSTEE 2.00 0.00 X 0 0 0 FRANK YU TRUSTEE (AS OF 03/2022) 3.00 0.00 X 0 0 0 SARAH G AUSTRIAN DEP DIR, GEN COUNSEL & SEC. 40.00 0.00 X 385110 0 32210 MARTHA WITHINGTON DEP DIR, CFO AND INTERIM COO 40.00 0.00 X 384352 0 45654 DANA WALLACH JONES ASST GEN COUNSEL/ASST SECRETARY 24.00 0.00 X 114641 0 3659 KAROLE VAIL DIR, PEGGY GUGGENHEIM COLLECTION 40.00 0.00 X 233569 0 99311 LEAH HEISTER BURTON DEP DIR, CHIEF ADVANCEMENT OFFICER 40.00 0.00 X 358471 0 52785 NAOMI BECKWITH DEP DIR & STOCKMAN CHIEF CURATOR 40.00 0.00 X 306127 0 23349 BEN RAWLINGSON PLANT DEP DIR GBL COMMS PUB AFFAIRS 40.00 0.00 X 309504 0 16342 PATRICIA A JEFFERS DEP DIR CHIEF HR OFFICER 40.00 0.00 X 296946 0 3894 TY WOODFOLK DEP DIR CHIEF CULTURE&INCL. OFFICER 40.00 0.00 X 251871 0 12137 CYRA LEVENSON DEP DIR&ENGELBERG DIR EDUC&PUB ENG 40.00 0.00 X 232317 0 42945 CAROL STRINGARI DEP DIR & CHIEF CONSERVATOR 40.00 0.00 X 200923 0 20833 ELIZABETH DUGGAL TAGHIPOUR FORMER SR. DEPUTY DIRECTOR & COO 0.00 0.00 X 185929 0 0 NANCY SPECTOR FORMER ARTISTIC DIR&STOCKMAN CURATOR 0.00 0.00 X 230000 0 0 4308770 0 1124537 70 1 1 0 SKYLINE RESTORATION 49-28 31ST PLACE LONG ISLAND CITY NY 11101 CONSTRUCTION 1277799 ALLIED UNIVERSAL 85 BROAD STREET NEW YORK NY 10004 SECURITY 1139424 CROTHALL HEALTHCARE 1500 LIBERTY RIDGE DRIVE 210 WAYNE PA 19087 JANITORIAL 1013637 BRUNSWICK ARTS CONSULTING 245 PARK AVENUE 14TH FLOOR NEW YORK NY 10167 COMMUNICATIONS 895131 AMS INTERNATIONAL GROSVENOR BIZ TOWERS 20TH/OFF 2011 BARSHA HTS DUBAI AE CONTRACT STAFFING 712589 40 3491343 2795689 3213783 34762677 2041962 44263492 ADMISSION INCOME 712110 16487137 16487137 MUSEUM AND PROGRAM COLLABORATIONS 712110 8534194 8534194 EXHIBITIONS 712110 3128107 3128107 28149438 1093028 1093028 2195067 480389 1714678 113981 160942 -46961 -46961 -46961 13546252 14949985 -1403733 -1403733 -1403733 1069606 2795689 2614493 -1544887 -1544887 2330030 976864 1353166 124653 1228513 ART SALE PROCEEDS 900099 1126656 1126656 CORPORATE EVENTS 900099 449630 449630 RESTAURANT INCOME 900099 250847 250847 48067 48067 1875200 75933810 28149438 605042 2915838 3600455 323833 2874394 402228 185929 185929 26175694 20151443 3898550 2125701 705387 491064 170913 43410 3477327 985763 2061318 430246 1850912 1353472 363375 134065 1582977 686145 743832 153000 552128 277721 274407 372500 372500 90000 90000 137405 137405 931936 931936 3800758 2915717 750691 134350 1056994 130327 895270 31397 1356106 605221 436115 314770 1312135 83734 1228010 391 25109 25109 9663057 7648328 1673804 340925 1474870 698729 523067 253074 54735 16818 28459 9458 1287149 1077146 160882 49121 4380445 3553591 673608 153246 928215 353506 574709 ART SHIPPING & CRATING 1301150 1296991 4159 ART PURCHASES 1234292 1234292 SUPPLIES AND MATERIALS 1216108 801357 333669 81082 2403556 1069121 1195348 139087 71157329 45779428 20440786 4937115 25947753 21612320 4069639 1296027 12709715 20293556 2126436 6716087 749641 976211 681497 2235361 124119530 81792758 44748547 42326772 35565932 35589495 91615408 77711024 22080303 23394165 240294871 232151018 12111945 10972986 42212941 38961993 22184111 32067241 28108480 29228448 104617477 111230668 X -2642911 3980761 138320305 116939589 135677394 120920350 240294871 232151018 X 4776481 -18265726 -1267799 X 0 1 X 1 0 X 41588253 31680309 27148535 49104795 44263492 193785384 41588253 31680309 27148535 49104795 44263492 193785384 12479240 181306144 1536113 3052099 1702076 1465667 2921687 10677642 1621366 1195673 156554 262895 605042 3841530 1713658 13251758 1478183 1189455 2944806 20577860 228882416 124238255 0.79210 0.77900 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2018 AMOUNT: $ 919,190. 2019 AMOUNT: $ 822,373. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 917,868. 2022 AMOUNT: $ 1,069,606. ART SALE PROCEEDS - 2018 AMOUNT: $ 11,650. 2019 AMOUNT: $ 11,579,127. 2020 AMOUNT: $ 1,005,078. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 1,126,656. CORPORATE EVENTS - 2018 AMOUNT: $ 468,002. 2019 AMOUNT: $ 406,500. 2020 AMOUNT: $ 52,500. 2021 AMOUNT: $ 164,680. 2022 AMOUNT: $ 449,630. RESTAURANT INCOME - 2018 AMOUNT: $ 311,707. 2019 AMOUNT: $ 435,889. 2020 AMOUNT: $ 417,461. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 250,847. MISCELLANEOUS INCOME - 2018 AMOUNT: $ 3,109. 2019 AMOUNT: $ 7,869. 2020 AMOUNT: $ 3,144. 2021 AMOUNT: $ 55,190. 2022 AMOUNT: $ 48,067. TAX REFUNDS/CREDITS - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 51,717. 2022 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 45542 0 0 45542 0 PART II-B, LINE 1: THE FOUNDATION'S RETAINED LOBBYIST AND A LIMITED NUMBER OF FOUNDATION EMPLOYEES MET DIRECTLY WITH NEW YORK CITY PUBLIC OFFICIALS, ON A LIMITED NUMBER OF OCCASIONS, TO DISCUSS ENGAGEMENT WITH CITY ELECTED OFFICIALS AND RELATED LEGISLATIVE PROPOSALS FOR MUSEUM FUNDING. 1 X X X X 0 133766250 11353253 -17977519 3964797 123177187 130634540 7053835 5188548 9110673 133766250 102669105 5361791 18665464 -3938180 130634540 85538857 8770359 10960534 2600645 102669105 92009498 17698991 -3803978 20365654 85538857 0.20000 0.71000 0.09000 0 0 2631849 2631849 101450736 71349437 30101299 14371307 7651008 6720299 3309709 2792313 517396 2355929 2355929 42326772 EQUITY FUNDS 37504575 F FIXED INCOME FUNDS 13855689 F EVENT/CREDIT ARBITRAGE FUNDS 3981457 F FUND OF HEDGE FUNDS 10003229 F INTERNATIONAL FUNDS 3631978 F 68976928 RIGHT-OF-USE ASSET 23394165 23394165 LEASE LIABILITY 29228448 29228448 X 58000894 -18265726 126940 -18138786 76139680 931936 -1137806 -205870 75933810 70768461 126940 1137806 1264746 69503715 931936 721678 1653614 71157329 PART III, LINE 1A: IN ACCORDANCE WITH INDUSTRY PRACTICE, ART OBJECTS PURCHASED, DONATED AND BEQUEATHED ARE INCLUDED IN PERMANENTLY RESTRICTED NET ASSETS AT A VALUE OF $1. CONTRIBUTIONS FOR THE PURCHASE OF COLLECTION ITEMS, NET ASSETS RELEASED FROM RESTRICTIONS FOR COLLECTION ITEMS PURCHASED AND DIRECT CARE OF THE COLLECTION, THE COST OF ALL COLLECTION ITEMS PURCHASED AND PROCEEDS FROM THE SALE OF DEACCESSIONED ART ARE REPORTED AS CHANGES IN NET ASSETS RELATED TO COLLECTION ITEMS PURCHASED AND SOLD IN THE STATEMENT OF ACTIVITIES. PART III, LINE 4: THE FOUNDATION'S PERMANENT COLLECTION WAS FORMED IN LARGE PART THROUGH THE ACQUISITION OF NOTABLE PRIVATE COLLECTIONS, AUGMENTED BY ACQUISITIONS UNDER THE LEADERSHIP OF THE FOUNDATION'S DIRECTORS AND CURATORS, AND WITH THE SUPPORT OF THE FOUNDATION'S ACQUISITION GROUPS. THESE COLLECTIONS FORM A UNIQUE GLOBAL COLLECTION THAT REFLECTS THE RICH TRAJECTORY OF ART FROM THE LATE 19TH CENTURY THROUGH THE PRESENT. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT FUNDS ARE USED FOR EDUCATIONAL PROGRAMS, IN SUPPORT OF CURATORIAL AND EDUCATION POSITIONS AND FOR ART PURCHASES, SCHOLARLY PUBLICATIONS, EXHIBITIONS, THE PGC'S INTERNSHIP PROGRAM, CONSERVATION AND COLLECTION CARE, A CONSERVATION FELLOWSHIP, AND FOR GENERAL SUPPORT OF THE FOUNDATION'S OPERATIONS. PART X, LINE 2: THE FOUNDATION 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 FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE ("THE CODE"), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE FOUNDATION'S PEGGY GUGGENHEIM COLLECTION OPERATIONS IN ITALY ARE SUBJECT TO TAXATION UNDER THE ITALIAN AGENCY OF REVENUE. THE FOUNDATION 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 FOUNDATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN ITS FINANCIAL STATEMENTS. IN ADDITION, THE FOUNDATION HAS NOT RECORDED A PROVISION FOR INCOME TAXES, AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -976,864. RENTAL EXPENSES -160,942. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 976,864. RENTAL EXPENSES 160,942. PART XII, LINE 4B - OTHER ADJUSTMENTS: PENSION PLAN ADJUSTMENTS 721,678. CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES EXHIBITIONS 19235 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES EXHIBITIONS 1685000 EUROPE (INCLUDING ICELAND & GREENLAND) 1 43 PROGRAM SERVICES & GENERAL OPERATIONS PEGGY GUGGENHEIM COLLECTION: PROGRAM EXPENSES - EXHIBITIONS GENERAL OPERATIONS 8112540 MIDDLE EAST AND NORTH AFRICA 0 3 PROGRAM SERVICES GUGGENHEIM ABU DHABI 524198 NORTH AMERICA 0 0 GENERAL OPERATIONS SUSTAINABILITY INITIATIVES 110000 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EXHIBITIONS/EDUCATION 5269 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 37905723 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 22874514 1 46 0 0 1 46 71236479 0 71236479 1 1 1 0 0 1 PART III ACCOUNTING METHOD: X X X X X X 1 DANILLER AND COMPANY 3724 JEFFERSON ST AUSTIN TX 78731 FUNDRAISING CONSULTING 0 990709 882689 108020 PENTERA 8650 COMMERCE PARK PLACE SUITE G INDIANAPOLIS IN 46268 PLANNED GIVING 0 0 0 29385 990709 882689 137405 AL AK AZ AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA WA WV WI FALL INT'L GALA 3576603 2525982 1050621 2049160 YEAR W/CHILD 202004 183019 18985 34374 2 86688 86688 530959 3865295 2795689 1069606 2614493 2614493 -1544887 X X X X X 1 1 0 0 0 0 0 0 0 RICHARD ARMSTRONG TRUSTEE/DIR. OF MUSEUM & FDTN. 819010 0 0 0 0 0 752975 0 18443 0 1590428 0 721228 0 MARTHA WITHINGTON DEP DIR, CFO AND INTERIM COO 384352 0 0 0 0 0 16775 0 28879 0 430006 0 0 0 SARAH G AUSTRIAN DEP DIR, GEN COUNSEL & SEC. 385110 0 0 0 0 0 16775 0 15435 0 417320 0 0 0 LEAH HEISTER BURTON DEP DIR, CHIEF ADVANCEMENT OFFICER 358471 0 0 0 0 0 16775 0 36010 0 411256 0 0 0 KAROLE VAIL DIR, PEGGY GUGGENHEIM COLLECTION 233569 0 0 0 0 0 16491 0 82820 0 332880 0 0 0 NAOMI BECKWITH DEP DIR & STOCKMAN CHIEF CURATOR 306127 0 0 0 0 0 0 0 23349 0 329476 0 0 0 BEN RAWLINGSON PLANT DEP DIR GBL COMMS PUB AFFAIRS 309504 0 0 0 0 0 4680 0 11662 0 325846 0 0 0 PATRICIA A JEFFERS DEP DIR CHIEF HR OFFICER 296946 0 0 0 0 0 0 0 3894 0 300840 0 0 0 CYRA LEVENSON DEP DIR&ENGELBERG DIR EDUC&PUB ENG 232317 0 0 0 0 0 9289 0 33656 0 275262 0 0 0 TY WOODFOLK DEP DIR CHIEF CULTURE&INCL. OFFICER 251871 0 0 0 0 0 0 0 12137 0 264008 0 0 0 NANCY SPECTOR FORMER ARTISTIC DIR&STOCKMAN CURATOR 0 0 0 0 230000 0 0 0 0 0 230000 0 0 0 CAROL STRINGARI DEP DIR & CHIEF CONSERVATOR 200923 0 0 0 0 0 8743 0 12090 0 221756 0 0 0 ELIZABETH DUGGAL TAGHIPOUR FORMER SR. DEPUTY DIRECTOR & COO 7690 0 0 0 178239 0 0 0 0 0 185929 0 0 0 PART I, LINES 4A-B LINE 4A END OF SERVICE PAYMENTS WERE MADE IN THE AMOUNT OF $230,000 TO THE FORMER ARTISTIC DIRECTOR AND CHIEF CURATOR AND IN THE AMOUNT OF $30,757 TO THE FORMER SENIOR DEPUTY DIRECTOR AND CHIEF OPERATING OFFICER. LINE 4B NONQUALIFIED RETIREMENT PLAN THE DIRECTOR OF THE MUSEUM AND FOUNDATION PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. AN ACCRUAL FOR FUTURE PAYMENTS HAS BEEN MADE AND IS REFLECTED ABOVE. PART II, COLUMN C - DEFERRED COMPENSATION: UNDER A MULTI-YEAR CONTRACTUAL AGREEMENT WITH MR. ARMSTRONG, SCHEDULE J, COLUMN C INCLUDES DEFERRED COMPENSATION OF $736,200 FOR CONTINUED SERVICE TO JANUARY 2023 WITH $368,100 PAID IN JANUARY 2023 AND $368,100 TO BE PAID IN JANUARY 2024. PART II: ELIZABETH DUGGAL TAGHIPOUR, FORMER SENIOR DEPUTY DIRECTOR AND CHIEF OPERATING OFFICER, LEFT THE FOUNDATION AT THE END OF 2021. IN 2022 WHILE SHE WAS NO LONGER AN EMPLOYEE OF THE FOUNDATION, IN ADDITION TO AN END OF SERVICE PAYMENT, SHE RECEIVED PAYMENT FOR (1) SERVICES SHE PROVIDED IN 2021 AS AN EMPLOYEE, WHICH AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(I), (2) VACTION ACCRUED AS AN EMPLOYEE, WHICH AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(III), AND (3) CONSULTING SERVICES PROVIDED IN 2022, WHICH AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(III). PART III: ALL PAYMENTS DESCRIBED IN (1) PART I LINES 4A AND 4B MADE TO THE DIRECTOR, THE FORMER SENIOR DEPUTY DIRECTOR AND CHIEF OPERATING OFFICER AND THE FORMER ARTISTIC DIRECTOR AND JENNIFER AND DAVID STOCKMAN CURATOR, AND (2) PART II COLUMN B(III) MADE TO THE FORMER SENIOR DEPUTY DIRECTOR AND CHIEF OPERATING OFFICER FOR CONSULTING SERVICES, WERE APPROVED IN ADVANCE BY THE COMPENSATION COMMITTEE OF THE FOUNDATION'S BOARD OF TRUSTEES. X 132 0 N/A X 19 2041962 FMV 0 0 1 1 PART I, COLUMN (B): THE FOUNDATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 32B: THE FOUNDATION ENGAGES THIRD PARTIES TO SELL DEACCESSIONED WORKS OF ART AND WORKS OF ART THAT HAVE NOT BEEN ACCESSIONED. SCHEDULE M, LINE 33: IN ACCORDANCE WITH INDUSTRY PRACTICE, ART OBJECTS PURCHASED, DONATED AND BEQUEATHED ARE INCLUDED IN PERMANENTLY RESTRICTED NET ASSETS AT A VALUE OF $1. CONTRIBUTIONS FOR THE PURCHASE OF COLLECTION ITEMS, NET ASSETS RELEASED FROM RESTRICTIONS TO PURCHASE COLLECTION ITEMS, THE COST OF ALL ART PURCHASED AND THE PROCEEDS FROM THE SALE OF ART ARE REPORTED AS CHANGES IN NET ASSETS RELATED TO COLLECTION ITEMS PURCHASED AND SOLD IN THE STATEMENT OF ACTIVITIES. FORM 990, PART I, LINE 1 & PART III, LINE 1: MISSION STATEMENT (CONTINUED) PRESERVES, AND INTERPRETS MODERN AND CONTEMPORARY ART, AND EXPLORES IDEAS ACROSS CULTURES THROUGH DYNAMIC CURATORIAL AND EDUCATIONAL INITIATIVES AND COLLABORATIONS. WITH ITS CONSTELLATION OF ARCHITECTURALLY AND CULTURALLY DISTINCT MUSEUMS, EXHIBITIONS, PUBLICATIONS, AND DIGITAL PLATFORMS, THE FOUNDATION ENGAGES BOTH LOCAL AND GLOBAL AUDIENCES. FORM 990, PART III, LINE 4A (CONTINUED): THE FOUNDATION MAINTAINS TWO ART CONSERVATION LABS TO PROPERLY CARE FOR THE ART IN ITS POSSESSION; IT ALSO CONDUCTS RESEARCH ON NEW TECHNIQUES IN ART CONSERVATION. IN 2022, THE FOUNDATION ACQUIRED PAINTINGS BY ETEL ADNAN, MARGARITA AZURDIA, WOOK-KYUNG CHOI, JADE FADOJUTIMI, JAIME GILI, VIRGINIA JARAMILLO, CAROLINE KENT, LEE LOZANO, HOWARDENA PINDELL, ROBERT SMITHSON, AND MANUEL SOLARO. THE FOUNDATION ALSO ACQUIRED SCULPTURES BY IGSHAAN ADAMS, SIAH ARMAJANI, RYAN GANDER, LAUREN HALSEY, KAPWANI KIWANGA, KAZUKO MIYAMOTO, ROBERT RAUSCHENBERG, FRED SANDBACK, SHINIQUE SMITH AND CECILIA VICUNA AS WELL AS MIXED MEDIA WORKS BY ANTHONY AKINBOLA, MANAL ALDOWAYAN, JAIME DAVIDOVICH, ALTERONCE GUMBY, AND DEBORAH ROBERTS. THE FOUNDATION ACQUIRED FILM AND VIDEO WORKS AND INSTALLATIONS BY FARAH AL QASIMI, ALEX DA CORTE, CHRISTIAN MARCLAY, AND GILLIAN WEARING AS WELL AS PHOTOGRAPHS BY FARAH AL QASIMI, TODD GRAY, WADE GUYTON, LESLIE HEWITT, TOMMY KHA, BASEERA KHAN, LILIANA MARESCA, WENDY RED STAR, CARA ROMERO, TOURMALINE, AND JULIA WEIST. THE FOUNDATION ALSO ACQUIRED WORKS ON PAPER BY ELLEN GALLAGHER, MARCIA RESNICK, MANUEL SOLANO, AND MATTHEW WONG. THE TOTAL NUMBER OF WORKS ACQUIRED BY THE FOUNDATION IN 2022 WAS 62. FORM 990, PART III, LINE 4B (CONTINUED): SELECTIONS FROM THE GUGGENHEIM MUSEUM COLLECTION WERE ALSO ON VIEW IN THE THANNHAUSER GALLERY. EXHIBITIONS PRESENTED IN 2022 AT THE PEGGY GUGGENHEIM COLLECTION IN VENICE INCLUDED: MIGRATING OBJECTS: ARTS OF AFRICA, OCEANIA, AND THE AMERICAS IN THE PEGGY GUGGENHEIM COLLECTION (OCTOBER 6, 2021 - JANUARY 10, 2022); AND SURREALISM AND MAGIC: ENCHANTED MODERNITY (APRIL 9 - SEPTEMBER 26, 2022). SELECTIONS FROM THE PEGGY GUGGENHEIM COLLECTION AND THE HANNELORE B. AND RUDOLPH B. SCHULHOF COLLECTION WERE ALSO ON VIEW. EXHIBITIONS PRESENTED IN 2022 AT THE GUGGENHEIM MUSEUM BILBAO INCLUDED: WOMEN IN ABSTRACTION (OCTOBER 22, 2021 - FEBRUARY 27, 2022); SHARON LOCKHART (NOVEMBER 4, 2021 - FEBRUARY 27, 2022); MASTERPIECES FROM THE MUSEE D'ART MODERN PARIS (FEBRUARY 11 - MAY 22, 2022); JEAN DUBUFFET: ARDENT CELEBRATION (FEBRUARY 25 - AUGUST 21, 2022); MOTIONS: AUTOS, ART, ARCHITECTURE (APRIL 8 - SEPTEMBER 18, 2022); SERRA/SEURAT: DRAWINGS (JUNE 9 - SEPTEMBER 6, 2022); THE OTOLITH GROUP: O HORIZON (JUNE 23 - OCTOBER 9, 2022); AND SECTIONS/INTERSECTIONS: 25 YEARS OF THE GUGGENHEIM MUSEUM. BILBAO COLLECTION (SEPTEMBER 8, 2022 - FEBRUARY 12, 2023). SELECTIONS FROM THE GUGGENHEIM MUSEUM BILBAO COLLECTION WERE ALSO ON VIEW THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION A, LINE 1A THE FOUNDATION'S BY-LAWS PROVIDE THAT THE EXECUTIVE COMMITTEE MAY EXERCISE ALL OF THE POWERS OF THE BOARD OF TRUSTEES DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD, EXCEPT: (1) THE POWER TO ELECT OR REMOVE TRUSTEES OR OFFICERS ELECTED BY THE TRUSTEES, (2) THE POWER TO FILL VACANCIES WHICH MAY OCCUR IN THE BOARD OF TRUSTEES OR IN ANY COMMITTEE, (3) THE FIXING OF COMPENSATION OF TRUSTEES FOR SERVING ON THE BOARD OF TRUSTEES OR ANY COMMITTEE, (4) THE AMENDMENT OR REPEAL OF THE BY-LAWS OR THE ADOPTION OF NEW BY-LAWS, (5) THE AMENDMENT OR REPEAL OF ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS TERMS SHALL NOT BE SO AMENDABLE OR REPEATABLE, (6) THE APPROVAL OF A MERGER OR PLAN OF DISSOLUTION, (7) THE AUTHORIZATION OF THE SALE, LEASE, EXCHANGE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ASSETS OF THE FOUNDATION, AND (8) THE APPROVAL OF AMENDMENTS TO THE CHARTER OF THE FOUNDATION. ON DECEMBER 31, 2022, THERE WERE 11 MEMBERS OF THE EXECUTIVE COMMITTEE. THERE ARE NO MEMBERS OF THE EXECUTIVE COMMITTEE WHO ARE NOT TRUSTEES. FORM 990, PART VI, SECTION A, LINE 2 PETER LAWSON-JOHNSTON, WENDY L-J. MCNEIL AND PETER LAWSON-JOHNSTON II, FAMILY RELATIONSHIP; PETER LAWSON-JOHNSTON II AND MARK WALTER, BUSINESS RELATIONSHIP; LISA BAKER AND WILLIAM MACK, BUSINESS RELATIONSHIP; ANDREW GUNDLACH AND J. TOMILSON HILL, BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE FOUNDATION'S FORM 990 IS PREPARED BY AN EXTERNAL CPA FIRM WITH THE SUPPORT OF THE FOUNDATION'S FINANCE AND LEGAL DEPARTMENTS. IT IS THEN REVIEWED BY THE CHIEF FINANCIAL OFFICER AND INTERIM CHIEF OPERATING OFFICER AND THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY. THE DRAFT OF FORM 990 IS THEN DISTRIBUTED TO THE AUDIT AND EXECUTIVE COMMITTEE MEMBERS FOR REVIEW. A MEETING IS HELD WITH THE AUDIT AND EXECUTIVE COMMITTEES FOR FURTHER REVIEW AND APPROVAL. THE FORM 990 IS THEN DISTRIBUTED TO THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C PURSUANT TO THE CONFLICT OF INTEREST POLICY FOR TRUSTEES AND OFFICERS, TRUSTEES AND OFFICERS DISCLOSE ANNUALLY IN WRITING ANY POTENTIAL OR ACTUAL CONFLICTS AND ARE REQUIRED TO DISCLOSE ANY CONFLICTS THAT ARISE DURING THE YEAR. PROSPECTIVE TRUSTEES ARE ALSO REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS. THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE DISCLOSURES TOGETHER WITH THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY. PURSUANT TO THE CODE OF ETHICS, EMPLOYEES MUST DISCLOSE ANY TRANSACTIONS OR RELATIONSHIPS THAT MAY GIVE RISE TO A POTENTIAL OR ACTUAL CONFLICT OF INTEREST WITH THE FOUNDATION. IN ADDITION, EMPLOYEES CONSIDERING ENTERING INTO ANY SUCH TRANSACTION OR RELATIONSHIP MUST OBTAIN APPROVAL IN ADVANCE FROM EITHER THE EMPLOYEE'S SUPERVISOR OR THE ETHICS COMMITTEE, IN ACCORDANCE WITH THE CODE OF ETHICS. ALL NEW HIRES ARE PRESENTED WITH THE CODE OF ETHICS, WHICH IS ALSO AVAILABLE ELECTRONICALLY ON THE FOUNDATION'S INTRANET. HIGHLIGHTS OF THE POLICY ARE DISCUSSED DURING NEW HIRE ORIENTATION. ALL NEW EMPLOYEES ARE ASKED TO SIGN A STATEMENT ATTESTING TO THE FACT THAT THEY HAVE BEEN GIVEN A COPY OF THE CODE OF ETHICS, THAT IT HAS BEEN EXPLAINED TO THEM, AND THAT THEY ARE RESPONSIBLE FOR ADHERING TO IT. IN ADDITION, REGULAR MEETINGS ARE HELD TO REVIEW THE CODE OF ETHICS WITH CURRENT STAFF. THE DIRECTOR, THE CHIEF OPERATING OFFICER AND THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY MUST DISCLOSE TO THE AUDIT COMMITTEE ANY TRANSACTION OR RELATIONSHIP THAT MAY GIVE RISE TO A CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 THE CHARTER FOR THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES DESCRIBES THE PROCESS THE COMMITTEE USES FOR DETERMINING THE COMPENSATION OF THE DIRECTOR OF THE MUSEUM AND FOUNDATION AND OTHER MEMBERS OF THE EXECUTIVE STAFF OF THE FOUNDATION. IN 2022, THE EXECUTIVE STAFF OF THE FOUNDATION INCLUDED THE DIRECTOR; THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY; THE DEPUTY DIRECTOR AND CHIEF ADVANCEMENT OFFICER; THE DEPUTY DIRECTOR, GLOBAL PUBLIC AFFAIRS AND COMMUNICATIONS; THE DIRECTOR OF THE PEGGY GUGGENHEIM COLLECTION; THE DEPUTY DIRECTOR OF EDUCATION AND PUBLIC ENGAGEMENT; THE DEPUTY DIRECTOR, CHIEF HUMAN RESOURCES OFFICER; THE DEPUTY DIRECTOR, CHIEF CULTURE AND INCLUSION OFFICER; THE DEPUTY DIRECTOR AND JENNIFER AND DAVID STOCKMAN CHIEF CURATOR; AND THE DEPUTY DIRECTOR, CHIEF FINANCIAL OFFICER AND INTERIM CHIEF OPERATING OFFICER. THAT PROCESS INCLUDES: (1) REVIEW AND APPROVAL BY THE COMPENSATION COMMITTEE; (2) THE USE OF COMPARABILITY DATA; AND (3) CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATIONS AND DECISIONS AND ARE REFLECTED IN THE MINUTES OF THE COMPENSATION COMMITTEE. IN 2022 THE COMPENSATION COMMITTEE USED THIS PROCESS TO (1) APPROVE COMPENSATION ADJUSTMENTS FOR THE DEPUTY DIRECTOR, GENERAL COUNSEL AND SECRETARY, THE DEPUTY DIRECTOR, GLOBAL PUBLIC AFFAIRS AND COMMUNICATIONS, THE DEPUTY DIRECTOR AND JENNIFER AND DAVID STOCKMAN CHIEF CURATOR, AND THE DEPUTY DIRECTOR, CHIEF FINANCIAL OFFICER AND INTERIM CHIEF OPERATING OFFICER, AND (2) APPROVE AN ADDITIONAL INCREASE IN THE SALARY OF THE DEPUTY DIRECTOR AND CHIEF FINANCIAL OFFICER WHEN ASSUMING THE INTERIM RESPONSIBILITIES OF THE CHIEF OPERATING OFFICER. THE COMPENSATION COMMITTEE CONSISTS ENTIRELY OF TRUSTEES WHO ARE NOT EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY FOR TRUSTEES AND OFFICERS, AND FORMS 1023 AND 990-T ARE AVAILABLE UPON WRITTEN REQUEST OR A REQUEST MADE IN PERSON. THE FOUNDATION'S FORM 990 AND AUDITED FINANCIALS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION ADJUSTMENT -357,054. LOSS ON EARLY REDEMPTION OF BONDS -1,632,423. PENSION PLAN ADJUSTMENTS 721,678. THE FASB UPDATED THE DEFINITION OF COLLECTIONS (ASU 2019-03 TOPIC 958): THE UPDATED DEFINITION PERMITS THE PROCEEDS FROM DEACCESSIONED COLLECTION ITEMS TO BE USED NOT ONLY FOR THE ACQUISITION OF NEW COLLECTION ITEMS BUT ALSO FOR THE DIRECT CARE OF THE COLLECTION. THE FOUNDATION'S BOARD-APPROVED COLLECTION MANAGEMENT POLICY DEFINES DIRECT CARE OF THE COLLECTION. DURING 2022 THE FOUNDATION USED $1,997,405 OF FUNDS FROM DEACCESSIONING TO SUPPORT THE DIRECT CARE OF THE COLLECTION. GUGGENHEIMCOM INC 1071 FIFTH AVENUE NEW YORK NY 10128 134113745 CEASED OPS DE N/A C 0.55000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0