2022-09-07T16:24:36-05:00 2021-06-30 952302617 SINGERLEWAK LLP 10960 WILSHIRE BOULEVARD 7TH FLOOR LOS ANGELES CA 900243783 990 2020-07-01 952264067 MUSEUM ASSOCIATES MUSE 3238576142 5905 WILSHIRE BLVD LOS ANGELES CA 90036 ANN ROWLAND CHIEF FINANCIAL OFFICER 3238576142 2022-08-25 1 ANN ROWLAND 999009999 LIOR TEMKIN P00748170 3104773924 2022-08-25 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z LOS ANGELES COUNTY MUSEUM OF ART (LACMA) ANN ROWLAND 5905 WILSHIRE BLVD LOS ANGELES CA 90036 132558530 0 X WWW.LACMA.ORG X 1938 CA SEE SCHEDULE O 53 51 522 243 83864 0 106567413 54878591 38027322 36836948 5959573 29781009 2617324 3117875 153171632 124614423 1427339 1117150 0 0 45196548 25810724 66511 0 4367094 79330800 63709162 126021198 90637036 27150434 33977387 1050295258 1466501158 571120795 821808044 479174463 644693114 X SEE SCHEDULE O 0 0 33635600 1117150 2721657 EXHIBITION, CURATORIAL, CONSERVATION & ART PROGRAMSLACMA PRESENTED 9 EXHIBITIONS AND PERMANENT COLLECTION INSTALLATIONS IN FISCAL 2020-2021, FEATURING ARTWORKS FROM ITS OWN COLLECTION AND FROM LENDERS AROUND THE WORLD. PUBLIC PROGRAMS, FILMS, AND CONCERTS ARE DEVELOPED IN COORDINATION WITH SPECIAL EXHIBITIONS. MANY WORKS FROM THE MUSEUM'S COLLECTION OF MORE THAN 147,000 OBJECTS ARE TREATED BY CONSERVATORS, WHILE THE MUSEUM'S RESEARCH LIBRARY AND SCHOLARLY PUBLICATIONS PROVIDE REFERENCE SUPPORT TO MUSEUM STAFF AND OUTSIDE SCHOLARS. ALL OF THESE ACTIVITIES SERVE TO MEET THE GOALS OF CONSERVATION, EXHIBITION AND INTERPRETATION OF THE ART INTO MEANINGFUL AESTHETIC, INTELLECTUAL, AND CULTURAL EXPERIENCES. 27225372 FACILITY ENHANCEMENTIN FISCAL 2020-2021, LACMA CONTINUED WORK TOWARDS A MAJOR, NEW MUSEUM BUILDING. MOST OF THESE COSTS WERE CAPITALIZED AND ARE NOT REFLECTED ON THIS LINE. THIS CATEGORY OF EXPENSE ALSO REFLECTS FINANCING AND DEPRECIATION EXPENSE REPRESENTING AMORTIZATION OF THE CAPITALIZED COSTS OF CONSTRUCTING THE MUSEUM'S PHYSICAL FACILITIES, AN ACTIVITY THAT IS ONE OF THE CORE REASONS MUSEUM ASSOCIATES WAS FOUNDED. 7125904 101 PUBLIC AND PROTECTIVE SERVICES AND ENGAGEMENTIT IS A MUSEUM GOAL TO CONTINUOUSLY EXPAND AND SERVE AUDIENCES OF ALL AGES, ETHNICITIES, AND SOCIO-ECONOMIC BACKGROUNDS BY CREATING WELCOMING ENVIRONMENTS AND PROGRAMS. THIS IS ACCOMPLISHED THROUGH A VARIETY OF MEANS, INCLUDING ON-SITE STAFF AND CONTRACTORS PROTECTING ART AND PROVIDING SERVICE TO THE PUBLIC, SPECIAL EVENTS, PROMOTIONAL CAMPAIGNS, CAMPUS WAY-FINDING MEDIA, AND THE MUSEUM MAGAZINE. 8533909 34822476 THE MUSEUM COLLECTS WORKS OF ART IN ALL MEDIA, FROM EVERY HISTORICAL PERIOD, AND FROM EVERY CORNER OF THE GLOBE TO ENHANCE ITS PERMANENT COLLECTION. EXPENSES REFLECT FUNDS PAID BY THE MUSEUM FOR THE ACQUISITION OF ART WORKS, BUT DO NOT REFLECT THE VALUE OF IN-KIND GIFTS OF ART. THE MUSEUM OFFERS MANY EDUCATIONAL OUTREACH PROGRAMS IN LOCAL SCHOOLS AND ON-SITE FOR CHILDREN AND TEENS AS WELL AS CLASSES AND OTHER PROGRAMS AND INTERPRETIVE MATERIALS FOR COLLEGE STUDENTS AND ADULTS. IT ALSO PROVIDES IMAGES, INFORMATION, AND OTHER WAYS TO ACCESS ITS COLLECTIONS AND PROGRAMS THROUGH THE WEB AND MANY OTHER DIGITAL MEDIA. 8533909 34822476 76520785 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 1 237 0 1 522 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 53 51 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X ANN ROWLAND CHIEF FINANCIAL OFFICER 3238576142 5905 WILSHIRE BLVD LOS ANGELES CA 90036 X TONY P RESSLER CO-CHAIR OF THE BOARD/TRUS 0.50 X X 0 0 0 ELAINE P WYNN CO-CHAIR OF THE BOARD/TRUS 0.50 X X 0 0 0 WILLOW BAY VICE CHAIR/TRUSTEE 0.50 X X 0 0 0 ROBERT KOTICK VICE CHAIR/TRUSTEE 0.50 X X 0 0 0 WILLIAM H AHMANSON TRUSTEE 0.50 X 0 0 0 WALLIS ANNENBERG TRUSTEE 0.50 X 0 0 0 MARK ATTANASIO TRUSTEE 0.50 X 0 0 0 AMBASSADOR NICOLE AVANT TRUSTEE 0.50 X 0 0 0 AMBASSADOR COLLEEN BELL TRUSTEE 0.50 X 0 0 0 DR REBECKA BELLDEGRUN TRUSTEE 0.50 X 0 0 0 ALISON BERG TRUSTEE 0.50 X 0 0 0 NICOLAS BERGGRUEN TRUSTEE 0.50 X 0 0 0 DAVID C BOHNETT TRUSTEE 0.50 X 0 0 0 SUZANNE DEAL BOOTH TRUSTEE 0.50 X 0 0 0 JON BROOKS TRUSTEE 0.50 X 0 0 0 ANDREW BRANDON-GORDON TRUSTEE 0.50 X 0 0 0 TROY CARTER TRUSTEE 0.50 X 0 0 0 EVA CHOW TRUSTEE 0.50 X 0 0 0 ANN COLGIN TRUSTEE 0.50 X 0 0 0 JANET CROWN TRUSTEE 0.50 X 0 0 0 KELVIN DAVIS TRUSTEE 0.50 X 0 0 0 KELLY DAY TRUSTEE 0.50 X 0 0 0 JOSHUA S FRIEDMAN TRUSTEE 0.50 X 0 0 0 GABRIELA GARZA TRUSTEE 0.50 X 0 0 0 THELMA GOLDEN TRUSTEE 0.50 X 0 0 0 TOM GORES TRUSTEE 0.50 X 0 0 0 SUSAN HESS TRUSTEE 0.50 X 0 0 0 MELLODY HOBSON TRUSTEE 0.50 X 0 0 0 VICTORIA JACKSON TRUSTEE 0.50 X 0 0 0 SUZANNE KAYNE TRUSTEE 0.50 X 0 0 0 LYN DAVIS LEAR TRUSTEE 0.50 X 0 0 0 RICHARD MERKIN MD TRUSTEE 0.50 X 0 0 0 WENDY STARK MORRISSEY TRUSTEE 0.50 X 0 0 0 JANE NATHANSON TRUSTEE 0.50 X 0 0 0 PETER NORTON TRUSTEE 0.50 X 0 0 0 GEOFF PALMER TRUSTEE 0.50 X 0 0 0 VIVECA PAULIN-FERRELL TRUSTEE 0.50 X 0 0 0 JANET DREISEN REPPAPORT TRUSTEE 0.50 X 0 0 0 CARTER REUM TRUSTEE 0.50 X 0 0 0 LIONEL RITCHIE TRUSTEE 0.50 X 0 0 0 ROBBIE ROBINSON TRUSTEE 0.50 X 0 0 0 STEVEN F ROTH TRUSTEE 0.50 X 0 0 0 CAROLE BAYER SAGER TRUSTEE 0.50 X 0 0 0 RYAN SEACREST TRUSTEE 0.50 X 0 0 0 FLORENCE SLOAN TRUSTEE 0.50 X 0 0 0 ERIC SMIDT TRUSTEE 0.50 X 0 0 0 MICHAEL G SMOOKE TRUSTEE 0.50 X 0 0 0 JONATHAN D SOKOLOFF TRUSTEE 0.50 X 0 0 0 STEVE TISCH TRUSTEE 0.50 X 0 0 0 CASEY WASSERMAN TRUSTEE 0.50 X 0 0 0 GREGORY ANNENBERG WEINGARTEN TRUSTEE 0.50 X 0 0 0 DASHA ZHUKOVA TRUSTEE 0.50 X 0 0 0 ANN ZIFF TRUSTEE 0.50 X 0 0 0 MICHAEL GOVAN CEO AND WALLIS ANNENBERG D 40.00 X 1229956 242567 464358 FRED GOLDSTEIN SVP, GENERAL COUNSEL & SEC 40.00 X 430443 0 86631 ANN ROWLAND CHIEF FINANCIAL OFFICER 40.00 X 65440 206970 172504 JEFFREY BLAIR GENERAL COUNSEL & ASSISTANT SECRETARY 40.00 X 102083 0 4359 DIANA VESGA CHIEF OPERATING OFFICER 40.00 X 584325 0 83334 NANCY THOMAS SR. DEPUTY DIRECTOR ART AD 40.00 X 133449 141036 124803 ZOE KAHR DEPUTY DIRECTOR FOR EXHIBITION & PLANNING 40.00 X 311850 0 40908 MELISSA BOMES SVP OF DEVELOPMENT 40.00 X 307957 0 47383 LORI JO HARTMAN VP, FACILITIES AND SECURITY OPERATIONS 40.00 X 274460 0 78687 MARK MITCHELL BUDGET AND INVESTMENT OFFICER 40.00 X 265049 0 73405 STEPHANIE BARRON SENIOR CURATOR & DEPT. HEAD 40.00 X 90892 121945 113428 DIANA MAGALONI-KERPEL DEPUTY DIRECTOR & DIRECTOR OF THE PROGRAM FOR ART 40.00 X 253225 0 90606 KIM WATSON VP, DEVELOPMENT 40.00 X 258750 0 53241 SHELBY BOAGNI VP, HUMAN RESOURCES 40.00 X 203400 0 43342 NANCY RUSSELL DIRECTOR OF COLLECTIONS MANAGEMENT & REGISTRATION 40.00 X 210410 0 86724 4721689 712518 1563713 61 0 1 0 CLARK CONSTRUCTION GROUP 18201 VON KARMAN STE 800 IRVINE CA 92612 CONSTRUCTION 70722794 SKIDMORE OWINGS & MERRILL LLP 15 WALL STREET 24TH FLOOR NEW YORK NY 10005 ARCHITECTURAL CONSULTING 11303385 ALLIED BARTON SECURITY SERVICES EIGHT TOWER BRIDGE 161 WASHINGTON CONSHOHOCKEN PA 19428 SECURITY 5901609 SWINERTON BUILDERS 2001 CLAYTON RD 7TH FLOOR CONCORD CA 94520 CONSTRUCTION 2967080 MATA CONSTRUCTION SERVICES INC 5016 EAGLE ROCK BLVS LOS ANGELES CA 90041 CONSTRUCTION 2335219 44 X 3406156 1676581 2579077 47216777 5367754 54878591 COUNTY OPERATING CONTR 900099 30884598 30884598 ADMISSIONS 900099 1721455 1721455 EXHIBITION REVENUE 900099 1492586 1492586 SPECIAL PROJECT REVENU 900099 1229071 1229071 COLLECTION ITEMS SOLD 900099 763064 763064 746174 746174 36836948 8061268 83864 7977404 135965 135965 1397539 0 1397539 1397539 1397539 19628596 9250000 0 7158855 19628596 2091145 21719741 21719741 66229 1676581 66229 0 1381248 719023 662225 662225 INSURANCE CLAIM REVENU 900099 647888 647888 ART HANDLING & OTH SVC 900099 140770 140770 FOOD SERVICES 900099 45062 45062 88426 88426 922146 124614423 37544235 83864 32107733 991340 991340 83060 83060 42750 42750 3837183 1111080 2075283 650820 25415473 18364569 4110666 2940238 -8693917 -5741154 -1954553 -998210 3329035 2274878 676407 377750 1922950 1360762 342615 219573 582819 370192 211319 1308 90599 90599 32500 32500 1119114 1119114 6548130 5969690 307979 270461 97366 89647 7719 3041978 1984240 754672 303066 1462344 898299 493104 70941 32101 30440 279 1382 11565467 10476294 686088 403085 8587 6469 887 1231 15921574 15921574 8554361 8352246 202115 1945128 1933701 4469 6958 ART ACQUISITION 5274979 5274979 ART INSTALLATION & PUBL 3494737 3463987 30750 CONSTRUCTION COSTS 2581360 2581360 EQUIPMENT PURCHASE 291734 217480 46120 28134 1064284 462902 541775 59607 90637036 76520785 9749157 4367094 X 26949582 221993752 158120306 160465869 7857190 3474036 427871 448234 81989 61021 529444003 107924524 313410656 421519479 270055601 315716508 218766819 282759333 54625244 60062926 1050295258 1466501158 13823255 12732042 33434828 31952124 332258094 332869009 477271 295500572 8966000 6722000 182161347 142032297 571120795 821808044 X 147764979 317873235 331409484 326819879 479174463 644693114 1050295258 1466501158 X 33977387 107909802 23631462 X X 0 1 X 1 0 X 76352458 93207462 236833448 106567413 54878591 567839372 76352458 93207462 236833448 106567413 54878591 567839372 33961052 533878320 3021580 3704711 4561065 7423336 1533504 20244196 154718 85265 83864 323847 985764 786844 618377 378904 922146 3692035 592099450 195871949 0.90170 0.89360 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 39179 39179 125982020 126021199 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 845 11837 39179 51861 250000 250000 250000 250000 1000000 1500000 X X X X X PUBLIC EDUCATION 1 134933568 545054 47396179 7203340 175671461 136803911 485583 5535050 7890976 134933568 138747882 490065 4331945 6765981 136803911 129257922 3257836 12742787 6510663 138747882 120285731 172335 15062844 6262988 129257922 0.53600 0.14600 0.31800 0 0 32177991 32177991 302088709 95437502 206651207 11814615 1247098 10567517 12039237 11239924 799313 171323451 171323451 421519479 ABSOLUTE RETURN INVESTMENTS 119271526 F OTHER PARTNERSHIPS AND OTHER FUNDS 163487807 F 282759333 INTEREST RATE SWAPS 78447548 RIGHT-OF-USE LEASE LIABILITIES 59987172 UNDERFUNDED PENSION LIABILITIES 2178557 SPLIT-INTEREST AGREEMENT LIABILITIES 1419020 142032297 X 255180011 107909802 25741553 133651355 121528656 3085767 3085767 124614423 85149444 -400091 -400091 85549535 5087501 5087501 90637036 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, ART OBJECTS PURCHASED BY OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. PART III, LINE 4: THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 147,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. PART V, LINE 4: THE EARNINGS OF THE MUSEUM'S ENDOWMENT FUNDS SUPPORT EDUCATION AND ART PROGRAMS, AND THE MISSION OF THE MUSEUM. PART X, LINE 2: THE MUSEUM IS A CALIFORNIA NONPROFIT CORPORATION AND IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND IS ALSO EXEMPT FROM STATE FRANCHISE TAXES. IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION TOPIC NO. 740, "UNCERTAINTY IN INCOME TAXES", THE MUSEUM RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT BASED ON THE TECHNICAL MERITS OF THE POSITION. DURING THE YEAR ENDED JUNE 30, 2021 THE MUSEUM PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR WHICH MAY HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS AND TO DATE HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS 719,023. INVESTMENT MANAGEMENT FEES -1,119,114. UNREALIZED GAINS (LOSSES) - ON INTEREST RATE SWAP 25,961,072. CHANGE IN VALUE OF CRT 180,572. PART XI, LINE 4B - OTHER ADJUSTMENTS: COLLECTION ITEMS SOLD 763,064. GIFT ANNUITY RESERVE CHANGE -187,478. DOUBTFUL PLEDGES 2,510,181. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 719,023. INVESTMENT MANAGEMENT FEES -1,119,114. PART XII, LINE 4B - OTHER ADJUSTMENTS: COLLECTION ITEMS PURCHASED 5,274,979. GIFT ANNUITY RESERVE CHANGE -187,478. 0 EAST ASIA AND THE PACIFIC TRAVELING EXHIBITIONS 0 0 0 0 0 0 0 0 0 CURATORIAL ASIA 2 42000 WIRE TRANSFER N/A CURATORIAL NORTH AMERICA 1 10000 WIRE TRANSFER N/A 0 0 0 1 1 0 PART I, LINE 2: THE TRAVELING EXHIBIT EXPENSES WERE REIMBURSED BY THE VARIOUS MUSEUMS THAT WERE TOURED IN. THEREFORE, WE DO NOT INCLUDE ANY AMOUNT IN THE EXPENSE COLUMN OF THIS SCHEDULE. PART III ACCOUNTING METHOD: X X X X X X X 1 CA COLLECTOR'S COMMITTEE 961674 1020338 -58664 -58664 ART & FILM GALA 781136 656243 124893 124893 2 1742810 1676581 66229 66229 66229 0 COLLECTOR'S COMMITTE 1 TRIPLE AUGHT FOUNDATION HC 61 BOX 33 HIKO NV 89017 880400144 501(C)(3) 949665 CASH GRANTS N/A CURATORIAL EMERGING OBJECT 4739 COUNTY ROAD 18 ANTONITO CO 81120 462980659 41675 CASH GRANTS N/A CURATORIAL 1 1 CURATORIAL 8 83060 CASH N/A PART I, LINE 2: THE MUSEUM MONITORS THE USE OF GRANT FUNDS ON A CASE-BY-CASE BASIS BUT DOES NOT HAVE OFFICIAL PROCEDURES FOR SUCH MONITORING. GRANT MAKING IS NOT A PRIORITY OF THE MUSEUM. GRANTS ARE MADE ON A CASE-BY-CASE BASIS AND ONLY IF THEY SUPPORT LACMA'S MISSION. X 1 1 X X X X X X 1 0 0 0 0 0 0 0 0 MICHAEL GOVAN CEO AND WALLIS ANNENBERG D 1037956 235859 0 0 192000 6708 264088 0 0 200270 1494044 442837 0 0 DIANA VESGA CHIEF OPERATING OFFICER 584325 0 0 0 0 0 43578 0 39756 0 667659 0 0 0 FRED GOLDSTEIN SVP, GENERAL COUNSEL & SEC 430443 0 0 0 0 0 72452 0 14179 0 517074 0 0 0 ANN ROWLAND CHIEF FINANCIAL OFFICER 65440 206970 0 0 0 0 15818 0 0 156686 81258 363656 0 0 NANCY THOMAS SR. DEPUTY DIRECTOR ART AD 133449 141036 0 0 0 0 31272 0 0 93531 164721 234567 0 0 MELISSA BOMES SVP OF DEVELOPMENT 307357 0 0 0 600 0 45952 0 1431 0 355340 0 0 0 LORI JO HARTMAN VP, FACILITIES AND SECURITY OPERATIO 258960 0 15500 0 0 0 64499 0 14188 0 353147 0 0 0 ZOE KAHR DEPUTY DIRECTOR FOR EXHIBITION & PLA 311250 0 0 0 600 0 39652 0 1256 0 352758 0 0 0 DIANA MAGALONI-KERPEL DEPUTY DIRECTOR & DIRECTOR OF THE PR 253225 0 0 0 0 0 60171 0 30435 0 343831 0 0 0 MARK MITCHELL BUDGET AND INVESTMENT OFFICER 252449 0 12600 0 0 0 65739 0 7666 0 338454 0 0 0 STEPHANIE BARRON SENIOR CURATOR & DEPT. HEAD 90892 121945 0 0 0 0 22635 0 0 90793 113527 212738 0 0 KIM WATSON VP, DEVELOPMENT 258750 0 0 0 0 0 46067 0 7174 0 311991 0 0 0 NANCY RUSSELL DIRECTOR OF COLLECTIONS MANAGEMENT & 200410 0 10000 0 0 0 47315 0 39409 0 297134 0 0 0 SHELBY BOAGNI VP, HUMAN RESOURCES 202800 0 0 0 600 0 42459 0 883 0 246742 0 0 0 PART I, LINE 1A THE MUSEUM PROVIDES A HOUSE FOR THE DIRECTOR, THE IMPUTED RENTAL VALUE OF WHICH IS SHOWN IN COLUMN B(III), ROW 1(I). PART I, LINE 4A PER A CONFIDENTIALITY AGREEMENT SIGNED BY THE ORGANIZATION, THE SEVERANCE PACKAGE PAID TO AN EMPLOYEE IS NOT OPEN FOR PUBLIC INSPECTION. HOWEVER, THIS INFORMATION WILL BE PROVIDED TO ANY GOVERNMENTAL AGENCY UPON REQUEST. A CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 13034AN30 2021-01-21 228500000 REFUNDING OF 2017 BONDS 0 0 0 B CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 13034AN48 2021-01-21 71500000 REFUNDING OF 2017 BONDS 0 0 0 C DIRECT PURCHASE - WELLS FARGO 13034ACT5 2021-06-07 18665000 REFUNDING OF 2013 BONDS 0 0 0 D DIRECT PURCHASE - UNION BANK LACM2013C 2021-06-07 16235000 REFUNDING OF 2013 BONDS 0 0 0 A 228500000 228500000 2010 1 0 1 1 B 71500000 71500000 2010 1 0 1 1 C 18665000 18665000 2010 0 0 1 1 D 16235000 16235000 2010 0 0 1 1 A 0 0 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 C 0 0 1 1 0 0 0 1 D 0 0 1 1 0 0 0 1 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 D 0 0 0 0 1 0 0 0 0 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2017 BONDS (A) ISSUER NAME: CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2017 BONDS (A) ISSUER NAME: DIRECT PURCHASE - WELLS FARGO (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2013 BONDS (A) ISSUER NAME: DIRECT PURCHASE - UNION BANK (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2013 BONDS (A) ISSUER NAME: DIRECT PURCHASE - US BANK (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2013 BONDS (A) ISSUER NAME: LOS ANGELES COUNTY PUBLIC WORKS FINANCING AUTHORITY (F) DESCRIPTION OF PURPOSE: HELP FUND LACMA EAST CAMPUS REPLACEMENT PROJECT A DIRECT PURCHASE - US BANK LACM2013C 2021-06-07 8100000 REFUNDING OF 2013 BONDS 0 0 0 B LEASE REVENUE BONDS- LOS ANGELES COUNTY PUBLIC WORKS FINANCING AUTHORITY 956000927 2020SERA1 2020-11-30 300000000 HELP FUND LACMA EAST CAMPUS REPLACEMENT PROJECT 0 0 0 A 8100000 8100000 2010 0 0 1 1 B 300000000 101717797 2025 0 0 0 1 A 0 0 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 0 0 0 0 A 1 B 1 JOSHUA S FRIEDMAN TRUSTEE 137774 INV. MGMT FEESMR. FRIEDMAN IS ALSO A FOUNDER, CO-CHAIR AND CO-CHIEF EXECUTIVE OFFICER FOR CANYON CAPITAL ADVISORS LLC (CCA, LLC), AN INVESTMENT FIRM THAT IS PAID FOR MANAGEMENT SERVICES FOR INVESTING FUNDS OF THE ORGANIZATION, WHICH ARE BASED IN PART, ON REVENUES FROM THE PERFORMANCE OF THESE INVESTMENTS. MUSEUM ASSOCIATES INVESTED WITH CCA, LLC IN 2005, FOUR YEARS PRIOR TO MR. FRIEDMAN JOINING THE BOARD. MUSEUM ASSOCIATES HAS NOT INVESTED ANY ADDITIONAL FUNDS IN CCA, LLC SINCE THE DATE OF THE INITIAL INVESTMENT. LESS THAN 2% OF THE MUSEUM'S TOTAL PORTFOLIO IS INVESTED WITH MR. FRIEDMAN'S FIRM.FEES ARE BASED ON A PERCENTAGE OF ASSETS UNDER INVESTMENT MANAGEMENT AND AN INCENTIVE FEE BASED ON THE INVESTMENT PERFORMANCE. 1 JONATHAN SOKOLOFF TRUSTEE 8619 INV. MGMT FEESMR. SOKOLOFF IS ALSO A MANAGING PARTNER OF LEONARD GREEN & PARTNERS L.P., AN INVESTMENT FIRM THAT IS PAID FOR MANAGEMENT SERVICES FOR INVESTING FUNDS OF THE ORGANIZATION, WHICH ARE BASED IN PART, ON REVENUES FROM THE PERFORMANCE OF THESE INVESTMENTS. MUSEUM ASSOCIATES INVESTED WITH LEONARD GREEN & PARTNERS IN 2012, TWO AND A HALF YEARS PRIOR TO MR. SOKOLOFF JOINING THE BOARD. MUSEUM ASSOCIATES HAS MADE NO NEW INVESTMENT COMMITMENTS WITH LEONARD GREEN & PARTNERS SINCE THE DATE OF THE INITIAL INVESTMENT.LESS THAN 1% OF THE MUSEUM'S TOTAL PORTFOLIO IS INVESTED WITH MR. SOKOLOFF'S FIRM.FEES ARE BASED ON A PERCENTAGE OF ASSETS UNDER INVESTMENT MANAGEMENT AND AN INCENTIVE FEE BASED ON THE INVESTMENT PERFORMANCE. 1 X 157 SEE PART II X 0 SEE PART II X 22 5367754 FMV OF AVG. STOCK VALUE 40 0 1 1 PART I, LINE 32B: THE MUSEUM USES BROKERS TO SELL SECURITIES AND USES AUCTION HOUSES AND ART DEALERS TO SELL WORKS ON CONSIGNMENT. PART I, LINE 33: IN CONFORMITY WITH THE PRACTICES OF MANY MUSEUMS, ART OBJECTS PURCHASED OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. FORM 990, PART I & PART III LINE 1, DESCRIPTION OF ORGANIZATION MISSION: TO SERVE THE PUBLIC THROUGH THE COLLECTION, CONSERVATION, EXHIBITION AND INTERPRETATION OF SIGNIFICANT WORKS OF ART FROM A BROAD RANGE OF CULTURES AND HISTORICAL PERIODS, AND THROUGH TRANSLATION OF THESE COLLECTIONS INTO MEANINGFUL EDUCATIONAL, AESTHETIC, INTELLECTUAL AND CULTURAL EXPERIENCES FOR THE WIDEST ARRAY OF AUDIENCES. THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 147,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. THIS FISCAL YEAR, THE MUSEUM PRESENTED 9 EXHIBITIONS AND PERMANENT COLLECTION INSTALLATIONS, ACQUIRED 2,272 NEW WORKS OF ART, PROVIDED PROGRAMS FOR 13,694 SCHOOL CHILDREN. TOTAL ATTENDANCE AT THE MUSEUM WAS 264,311. FORM 990, PART I, LINE 8: THE DECREASE IN CONTRIBUTIONS FROM FISCAL YEAR END 06/30/20 TO FISCAL YEAR END 06/30/21 IS ATTRIBUTABLE TO THE LARGE AMOUNT OF PLEDGES AND GIFTS RECEIVED IN FY20 TOWARDS LACMA'S BUILDING LACMA CAMPAIGN. FY21 REFLECTED MATERIAL CAMPAIGN GIFTS ALSO, BUT NOT AS HIGH AS IN FY20. FORM 990, PART I, LINE 15: THE DECREASE IN SALARIES AND RELATED EXPENSES IS ALMOST FULLY EXPLAINED BY SWINGS IN THE ACTUARIAL COST OF THE MUSEUM'S DEFINED PENSION PLAN - DOWNWARD IN FY21 AND UPWARD IN FY20. THE FUNDED STATUS OF THE PLAN MATERIALLY IMPROVED IN FY21 DUE TO VERY STRONG PLAN ASSETS INVESTMENT PORTFOLIO RETURNS, RESULTING IN LOWER COST. IN FY20 THE FUNDED STATUS OF THE PLAN DECREASED DUE TO A DROP IN APPLICABLE INTEREST RATES, RESULTING IN HIGHER COST. FORM 990, PART I, LINE 17: EXPENSES WERE REDUCED ACROSS ALL AREAS OF MUSEUM ACTIVITY IN ORDER TO POSITION IT BETTER FOR FINANCIAL RISKS ASSOCIATED WITH THE COVID PANDEMIC. IN SOME CASES THE REDUCTIONS IN COST HAPPENED NATURALLY, FOR INSTANCE DUE TO MUSEUM CLOSURE AND CANCELLATION OR POSTPONEMENT OF PROGRAMS LIKE TRAVELING EXHIBITIONS. FORM 990, PART I, LINE 20 THE INCREASE IN TOTAL ASSETS IS ALMOST COMPLETELY ATTRIBUTABLE TO THREE ITEMS. CASH EQUIVALENT INVESTMENTS ROSE DUE TO RECEIPT OF PROCEEDS FROM THE DEBT OBLIGATION WITH THE COUNTY OF LOS ANGELES TO HELP FINANCE ITS NEW BUILDING CONSTRUCTION COSTS. THE MARKET VALUE OF LACMA'S INVESTMENT PORTFOLIO INCREASED REFLECTING THE VERY STRONG POSITIVE RETURNS IN INVESTMENT MARKETS IN GENERAL AND THE INVESTMENT ALLOCATION OF ITS INVESTMENT PORTFOLIO. THE BOOK VALUE FOR BUILDINGS ROSE TO REFLECT CONSTRUCTION IN PROGRESS ON THE NEW MUSEUM FACILITY. FORM 990, PART VI, SECTION A, LINE 1 THE MUSEUM'S BYLAWS ESTABLISH AN EXECUTIVE COMMITTEE AS ONE OF ITS STANDING COMMITTEES ELECTED ANNUALLY BY THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT, BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, ON BEHALF OF THE BOARD OF TRUSTEES, SUBJECT TO CERTAIN EXCEPTIONS, INCLUDING THOSE SET FORTH IN APPLICABLE STATE LAW. THE SCOPE OF THE COMMITTEE'S AUTHORITY, INCLUDING THE EXCEPTIONS THERETO, IS SET FORTH IN THE BYLAWS OF THE MUSEUM, WHICH ARE PUBLISHED ON THE MUSEUM'S WEBSITE. THE COMMITTEE IS COMPRISED OF THE CO-CHAIRS OF THE BOARD, THE CHAIRS OF EACH STANDING COMMITTEE OF THE BOARD AND OTHER TRUSTEES ELECTED BY THE BOARD. ALL MEMBERS OF THE COMMITTEE ARE VOTING TRUSTEES. FORM 990, PART VI, SECTION A, LINE 2 WALLIS ANNENBERG, TRUSTEE, AND GREGORY ANNENBERG WEINGARTEN, TRUSTEE ARE MOTHER AND SON. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY OUTSIDE TAX ACCOUNTANTS AND REVIEWED AND APPROVED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. ONCE APPROVED BY THE AUDIT COMMITTEE, THE AUDIT COMMITTEE REPORTS TO THE FULL BOARD OF TRUSTEES AND THE RETURN IS MADE AVAILABLE TO THE REST OF THE BOARD BEFORE IT IS ELECTRONICALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIRMAN OF THE AUDIT COMMITTEE SENDS AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM TO EACH TRUSTEE, AND, WITH THE OFFICE OF GENERAL COUNSEL, MONITORS RESPONSES AND FOLLOWS UP WITH TRUSTEES TO ACHIEVE AS HIGH A RESPONSE RATE AS POSSIBLE. THE OFFICE OF GENERAL COUNSEL REVIEWS THESE FORMS AND REPORTS SIGNIFICANT CONFLICTS TO THE AUDIT COMMITTEE, WHICH REVIEWS ANY SPECIFIC TRANSACTIONS THAT MIGHT INVOLVE A CONFLICT OF INTEREST WITH A TRUSTEE. THE DIRECTOR OF THE MUSEUM SENDS OFFICERS, KEY EMPLOYEES, AND OTHERS AN ANNUAL CONFLICT OF INTEREST FORM, WHICH KEY EMPLOYEES ARE ASKED TO COMPLETE AND RETURN TO THE GENERAL COUNSEL, WHO REVIEWS SUCH FORMS FOR POSSIBLE CONFLICTS AND MONITORS COMPLIANCE WITH LACMA'S ETHICS POLICY INCLUDING THE CONFLICT OF INTEREST POLICIES CONTAINED IN THE ETHICS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO AND DIRECTOR OF LACMA IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, WITH THE PARAMETERS ESTABLISHED BY THE MULTI-YEAR EMPLOYMENT AGREEMENT ENTERED INTO BY LACMA AND THE CEO AND DIRECTOR IN 2016. THE DIRECTOR ANNUALLY DETERMINES THE COMPENSATION OF EACH OF THE OTHER OFFICERS AND KEY EMPLOYEES. IN EACH CASE, THE COMPENSATION IS BASED ON (1) THE EMPLOYEE'S PERFORMANCE DURING THE PRIOR YEAR; (2) THE CONTEXT OF LACMA'S OVERALL OPERATING BUDGET; AND (3) COMPARABILITY DATA FOR PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. SUCH COMPARABILITY DATA IS GENERALLY PREPARED BY SENIOR MANAGEMENT, INCLUDING THE CHIEF FINANCIAL OFFICER AND THE VICE PRESIDENT OF HUMAN RESOURCES AND INCLUDES A REVIEW OF PUBLICLY FILED FORMS 990 OF OTHER, COMPARABLE INSTITUTIONS. THE PROPOSED COMPENSATION FOR ALL OFFICERS AND KEY EMPLOYEES AND THE UNDERLYING DATA, INCLUDING THE PERFORMANCE REVIEWS AND COMPARABILITY ANALYSES, ARE PRESENTED TO THE AUDIT COMMITTEE, TO DETERMINE WHETHER, IN THE AUDIT COMMITTEE'S JUDGMENT, SUCH PROPOSED COMPENSATION IS APPROPRIATE, FAIR AND REASONABLE TO LACMA. THE APPROVAL OF THE AUDIT COMMITTEE IS REPORTED TO THE FULL BOARD OF TRUSTEES AT ITS NEXT REGULARLY SCHEDULED MEETING. NOTE THAT LACMA DOES NOT HAVE A SEPARATE "COMPENSATION COMMITTEE". THE AUDIT COMMITTEE FUNCTIONS AS THE COMPENSATION COMMITTEE. ALL MEMBERS OF THE AUDIT COMMITTEE ARE INDEPENDENT TRUSTEES OF LACMA. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND ON THE MUSEUM'S WEBSITE. THE WHISTLEBLOWER POLICY, POLICY ON REVIEW OF EXECUTIVE COMPENSATION, BOARD POLICY ON DIVERSITY, AND COLLECTIONS MANAGEMENT POLICY ARE ALSO MADE AVAILABLE ON THE MUSEUM'S WEBSITE. PART VII, SECTION A & SCHEDULE J, PART II ALTHOUGH THE COUNTY OF LOS ANGELES IS NOT A "RELATED ORGANIZATION", COMPENSATION PAID BY THE COUNTY OF LOS ANGELES TO CERTAIN OFFICERS AND EMPLOYEES OF THE MUSEUM LISTED IN PART VII AND SCHEDULE J, IS INCLUDED IN THE INTEREST OF TRANSPARENCY AND FULL DISCLOSURE. FORM 990, PART VIII, LINE 7B: PROCEEDS FROM SALE OF SECURITIES: LACMA HAS INVESTMENT ACCOUNTS AND HEDGE FUNDS WITH MANY STOCK TRANSACTIONS. DUE TO THE LARGE QUANTITY OF STOCK TRANSACTIONS, THIS INFORMATION IS NOT INCLUDED IN THE RETURN. FORM 990, PART X, LINE 25: THE INCREASE IN OTHER LIABILITIES IS PRINCIPALLY TIED TO TWO ITEMS. THE MOST SIGNIFICANT ITEM WAS THAT LACMA ENTERED A DEBT OBLIGATION AGREEMENT WITH THE COUNTY OF LOS ANGELES TO HELP FINANCE ITS NEW BUILDING CONSTRUCTION COSTS. THE SECOND SIGNIFICANT ITEM WAS AN UNREALIZED GAIN FOR AN INTEREST RATE SWAP THAT PARTIALLY OFFSET THE NEW DEBT LIABILITY. THIS SWAP WILL SELF LIQUIDATE OVER THE DURATION OF MUSEUM DEBT AND THEREFORE DOES NOT REPRESENT AN IMMEDIATE NON-DISCRETIONARY CLAIM ON MUSEUM RESOURCES. FORM 990, PART XI, LINE 9: UNREALIZED GAINS (LOSSES) ON INTEREST RATE SWAP 25,961,072. CHANGE IN VALUE OF CRT 180,571. DOUBTFUL PLEDGES -2,510,181. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT. THE MUSEUM PERIODICALLY CHANGES AUDIT FIRMS OR ROTATES PARTNERS WITHIN OUR CONTRACTED FIRM. FORM 990 - ELECTRONIC FILING THE ORGANIZATION IS NOW E-FILING THE 6/30/2021 INFORMATIONAL RETURN DUE TO A NOTICE RECEIVED DATED AUGUST 12, 2022 STATING THAT WE ARE REQUIRED TO E-FILE THE INFORMATIONAL RETURN. AT THE TIME OF FILING THERE WERE SOME SOFTWARE DIAGNOSTICS THAT PREVENTED US FROM E-FILING THE RETURN. HOWEVER, AFTER RECEIVING THE NOTICE THE INFORMATIONAL RETURN PREPARER WAS ABLE TO CLEAR ALL OF THE DIAGNOSTICS WITH THE SOFTWARE PROVIDER RELATING TO THE PREVIOUSLY REJECTED E-FILE RETURNS. CRT (2) 5905 WILSHIRE BLVD LOS ANGELES CA 90036 TRUST CA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0