2022-02-17T13:58:05-06:00 2021-06-30 410746749 CLIFTONLARSONALLEN LLP ONE SEAGATE SUITE 2650 TOLEDO OH 43604 990 2020-07-01 344434678 THE TOLEDO MUSEUM OF ART TOLE 4192558000 PO BOX 1013 TOLEDO OH 43697 ADAM LEVINE DIRECTOR 4192558000 2022-02-16 1 ADAM LEVINE 999009999 JONATHAN RICHARDS P01311831 4192443711 2022-02-16 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z ADAM LEVINE PO BOX 1013 TOLEDO OH 43697 19701020 0 X WWW.TOLEDOMUSEUM.ORG X 1901 OH THROUGH OUR COLLECTION AND PROGRAMS, WE STRIVE TO INTEGRATE ART INTO THE LIVES OF PEOPLE. THE MUSEUM SEEKS TO BECOME THE MODEL ART MUSEUM IN THE UNITED STATES FOR ITS COMMITMENT TO QUALITY AND ITS CULTURE OF BELONGING. 27 27 334 385 438031 0 10131867 11049835 2298216 1836132 5002851 5593579 99766 229513 17532700 18709059 130510 82712 0 0 9456228 9031880 0 0 1491951 13569701 10208500 23156439 19323092 -5623739 -614033 292072764 363312718 8337384 7882958 283735380 355429760 X FOR 120 YEARS, THE TOLEDO MUSEUM OF ART HAS OFFERED FREE ADMISSION TO ONE OF THE WORLD'S GREAT ART COLLECTIONS HOUSED IN ITS GREEK REVIVAL MAIN BUILDING AND THE GLASS PAVILION. THE MUSEUM HAS AN EXTENSIVE EDUCATION PROGRAM, OFFERING CURRICULUM-BASED SCHOOL TOURS AS WELL AS ADULT AND CHILDREN'S ART CLASSES. 1 1 13162884 1221593 THE TOLEDO MUSEUM OF ART OPERATES AND MAINTAINS ART GALLERIES, STUDIO SPACES AND AN ART LIBRARY FOR THE BENEFIT OF THE GENERAL PUBLIC. THIS INCLUDES EDUCATIONAL SCHOLARSHIP, RESEARCH, CONSERVATION, DOCUMENTATION AND PRESENTATION OF A PERMANENT COLLECTION OF ART TOTALING NEARLY 23,810 OBJECTS. 721237 THE MUSEUM ORGANIZES AND PRESENTS SPECIAL EXHIBITIONS OF ITS PERMANENT COLLECTION, HOSTS TRAVELING EXHIBITIONS AND ORGANIZES EXHIBITIONS, SOMETIMES IN COLLABORATION WITH OTHER ART MUSEUMS. THE MUSEUM OFFERS PROGRAMS ASSOCIATED WITH THESE EXHIBITIONS INCLUDING MUSIC, HANDS-ON ACTIVITIES, LECTURES, ETC. THAT ARE AVAILABLE TO THE GENERAL PUBLIC. 1506414 82712 504902 WITH AN EMPHASIS ON ART EDUCATION, THE MUSEUM INTEGRATES ART INTO THE LIVES OF PEOPLE. THE FAMILY CENTER OFFERS ART-BASED ACTIVITIES FREE OF CHARGE. WHILE THERE IS A CHARGE FOR MOST FORMAL CLASSES, THE MUSEUM HAS AN ACTIVE SCHOLARSHIP PROGRAM TO SUPPORT STUDENTS WHO WOULD NOT HAVE THE ACCESS OR MEANS TO PURSUE ART CLASSES. IN 2020, A YEAR AFFECTED BY THE COVID-19 PANDEMIC, THE MUSEUM NONETHLESS PROVIDED APPROXIMATELY 87 SCHOLARSHIPS TO ITS 669 CLASS ATTENDEES. THE MUSEUM ALSO CONTINUED TO PROVIDE BUS FUNDS TO LOCAL SCHOOLS AND COMMUNITY CENTERS TO ALLOW OVER 1,328 SCHOOL CHILDREN THE OPPORTUNITY TO TOUR THE MUSEUM IN DOCENT-LED CURRICULUM. THE MUSEUM ALSO HOSTED APPROXIMATELY 2,121 ADULTS ANNUALLY FOR DOCENT-LED TOURS OR VISUAL LITERACY PROGRAMS. 15390535 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 75 0 1 334 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 27 27 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH FL X PATTY O'TOOLE 4192558000 2445 MONROE STREET TOLEDO OH 43697 RANDY OOSTRA CHAIRMAN 1.00 X X 0 0 0 STEPHEN D TAYLOR VICE CHAIRMAN 1.00 X X 0 0 0 JOE NAPOLI VICE CHAIRMAN 1.00 X X 0 0 0 SHARON SPEYER SECRETARY 1.00 X X 0 0 0 THOMAS WINSTON TREASURER 1.00 X X 0 0 0 ALLAN BLOCK DIRECTOR 1.00 X 0 0 0 ELIZABETH BRADY DIRECTOR 1.00 X 0 0 0 JUDITH HERB DIRECTOR 1.00 X 0 0 0 JAMES A HOFFMAN DIRECTOR 1.00 X 0 0 0 MIKE HYLANT DIRECTOR 1.00 X 0 0 0 HARLEY J KRIPKE DIRECTOR 1.00 X 0 0 0 SUSAN PALMER DIRECTOR 1.00 X 0 0 0 MIKE THAMAN DIRECTOR 1.00 X 0 0 0 DAVID K WELLES JR DIRECTOR 1.00 X 0 0 0 DAVID KROCK DIRECTOR 1.00 X 0 0 0 RITA MANSOUR DIRECTOR 1.00 X 0 0 0 PAT BOWE DIRECTOR 1.00 X 0 0 0 RODNEY EASON DIRECTOR 1.00 X 0 0 0 JAY SECOR DIRECTOR 1.00 X 0 0 0 SARA JANE DEHOFF VICE CHAIRMAN 1.00 X X 0 0 0 CYNTHIA THOMPSON DIRECTOR 1.00 X 0 0 0 CYNTHIA SKAFF DIRECTOR 1.00 X 0 0 0 LISA MCDUFFIE DIRECTOR 1.00 X 0 0 0 MARY GALVIN DIRECTOR 1.00 X 0 0 0 ROMULES DURANT DIRECTOR 1.00 X 0 0 0 BRIAN CHAMBERS DIRECTOR 1.00 X 0 0 0 MARY ELLEN PISANELLI DIRECTOR 1.00 X 0 0 0 ADAM LEVINE EXECUTIVE DIRECTOR 70.00 X 235640 0 12268 PATRICIA O'TOOLE CHIEF FINANCIAL OFFICER 55.00 X 120456 0 17680 JOHN STANLEY INTERIM DIRECTOR 70.00 X 111722 0 3163 KRISTINA CRYSTAL CHIEF REVENUE OFFICER 55.00 X 145159 0 14109 TODD AHRENS DIRECTOR OF DEVELOPMENT 55.00 X 104410 0 7389 DIANE WRIGHT INTERIM DIRECTOR OF CURATORIAL AFFAIRS 55.00 X 115159 0 13177 LAWRENCE NICHOLS SENIOR CURATOR 55.00 X 100228 0 28797 MICHAEL DEETSCH DIRECTOR OF EDUCATION 55.00 X 100106 0 23889 1032880 0 120472 8 0 1 0 TITAN MECHANICAL 16192 KING ROAD HASKINS OH 43525 MECHANICAL CONTRACTING 2380261 SAFEGUARD SECURITY SERVICES 3332 W LASKEY RD SUITE 2 TOLEDO OH 43623 SECURITY SERVICES 297953 THE SPIEKER CO 2541 TRACY RD NORTHWOOD OH 43619 MAINTENANCE SERVICES 240238 AIR FORCE ONE 5810 SHIER RINGS RD DUBLIN OH 43016 HVAC SERVICES 233523 BLUE WATER COMMUNICATIONS 435 12TH ST WEST BRADENTON FL 34205 CONSULTING - PUBLIC RELATIONS/COMMUNICAT 223526 2 2210631 3221787 1853725 3763692 306360 11049835 TUITION AND RELATED FEES 711300 653883 504902 148981 FACILITY FEES 711300 548481 346405 202076 PERISTYLE SERVICE FEES 711300 218300 218300 PARKING LOT INCOME 711300 170726 170726 EXHIBIT ADMISSIONS 711300 128630 128630 116112 44862 71250 1836132 5092623 5092623 350321 449202 -98881 -98881 -98881 500956 0 500956 500956 500956 871153 542759 328394 312670 15724 18709059 1726495 438031 5494698 82712 82712 510663 359640 92002 59021 6653374 4685712 1198684 768978 351357 247447 63301 40609 916212 645253 165067 105892 600274 422750 108146 69378 48582 48582 76144 76144 1080258 1080258 38655 15462 19328 3865 794093 674979 79409 39705 52952 46635 2520 3797 161230 161230 3341381 2840174 334138 167069 258982 168489 84573 5920 ART PURCHASES & EXPENSE 1662046 1662046 PROGRAMS 1067278 1067278 MAINTENANCE & REPAIRS 493706 493706 COMPUTER EXPENSE 289567 203931 52169 33467 843626 484251 165125 194250 19323092 15390535 2440606 1491951 20070 43220 2268181 6977797 2102516 774411 45436 0 409650 317570 235361 518593 126417574 84140844 44481765 42276730 136841302 194117238 33897473 30670858 71771010 87616301 292072764 363312718 1282780 2139529 0 38239 6339834 5555262 714770 149928 8337384 7882958 X 135451539 169760349 148283841 185669411 283735380 355429760 292072764 363312718 X -614033 56453687 15854726 X 0 1 X 1 0 X 16503662 12010408 11970247 10131867 11049835 61666019 16503662 12010408 11970247 10131867 11049835 61666019 15718316 45947703 2736878 4363480 6293117 4459732 5442944 23296151 84962170 14647313 0.54080 0.55270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 162305097 537196 58609290 82712 5658311 215710560 169213887 2429311 835851 138509 10035443 162305097 168586192 3112654 6063045 183438 8364566 169213887 130532585 2675541 11706791 169948 9511716 135233253 116097164 6721539 15828984 186068 7929034 130532585 0.59000 0.17600 0.23400 0 0 5484538 5484538 105463425 74193634 31269791 8042859 3856346 4186513 7426752 6090864 1335888 42276730 OTHER 20200 F CSV - LIFE INSURANCE 2133 F LIMITED PARTNERSHIPS 30648525 F 30670858 PERPETUAL AND SPLIT INTEREST TRUST AGREEMENTS 87350414 DEPOSITS - FACILITIES 20000 OTHER ASSETS 212089 LIQUOR LICENSE 17671 MSDC TENANT SECURITY DEPOSITS 16127 87616301 GIFT ANNUITIES - NON-CURRENT 149928 149928 X 19868595 0 19868595 -1159536 -1159536 18709059 18203805 542759 542759 17661046 1662046 1662046 19323092 PART III, LINE 1A: EXPENDITURES FOR THE PURCHASE OF WORKS OF ART ARE EXPENSED AS PURCHASED. EACH OF THE OBJECTS IN THE ART COLLECTION, WHICH COLLECTION IS OF SIGNIFICANT VALUE, ARE CATALOGUED FOR EDUCATIONAL AND CURATORIAL PURPOSES. PROCEDURES ARE EMPLOYED CONTINUOUSLY TO VERIFY THE CONDITION AND EXISTENCE OF EACH OBJECT IN THE COLLECTION. PROCEEDS FROM SALES OF COLLECTION OBJECTS WHICH ARE NO LONGER DEEMED APPROPRIATE FOR THE MUSEUM'S ART COLLECTION ARE TO BE USED TO ACQUIRE OTHER OBJECTS FOR THE COLLECTION. GIFTS OF WORKS OF ART (AMOUNTING TO $33,600 IN 2021 AND $147,500 IN 2020) ARE NOT RECORDED SINCE THE MUSEUM HAS ADOPTED THE POLICY OF EXPENSING WORKS OF ART. PART V, LINE 4: THE MUSEUM'S ENDOWMENTS CONSIST OF NUMEROUS FUNDS ESTABLISHED TO SUPPORT THE ACHIEVEMENT OF THE MUSEUM'S MISSION. ITS ENDOWMENTS CONSIST OF BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. PART X, LINE 2: SINCE THE MUSEUM IS AN EXEMPT CHARITABLE ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND MSDC IS A DISREGARDED ENTITY, NO PROVISION FOR FEDERAL INCOME TAX IS REQUIRED EXCEPT FOR FEDERAL INCOME TAXES ARISING FROM UNRELATED BUSINESS INCOME. NO PROVISION FOR FEDERAL INCOME TAX WAS REQUIRED FOR UNRELATED BUSINESS INCOME IN 2021 OR 2020. THE ORGANIZATION DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST AND DIVIDENDS 5,092,623. NET REALIZED GAINS 500,956. INVESTMENT RETURN DESIGNATED FOR CURRENT OPERATIONS -6,111,475. COST OF GOODS SOLD -542,759. NET RENTAL LOSS -98,881. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 542,759. PART XII, LINE 4B - OTHER ADJUSTMENTS: ART PURCHASES 1,662,046. 1 FALL 2020 SCHOLARSHIPS 16 1408 WINTER 2021 SCHOLARSHIPS 23 2626 UNIVERSITY OF TOLEDO SCHOLARSHIPS 14 63443 SUMMER 2021 48 15235 PART I, LINE 2: THE SCHOLARSHIPS ISSUED BY THE MUSEUM ARE TO BE USED FOR ART CLASSES HELD AT THE TOLEDO MUSEUM OF ART AND THE UNIVERSITY OF TOLEDO. THE ENDOWMENT FUNDS SUPPORTING THESE SCHOLARSHIPS ARE RELEASED WHEN THE SCHOLARSHIPS ARE AWARDED. EDUCATION STAFF REVIEW THE SCHOLARSHIPS FUNDS ON A REGULAR BASIS. 1 X X X X 0 0 0 0 0 0 0 0 0 ADAM LEVINE EXECUTIVE DIRECTOR 235640 0 0 0 0 0 8106 0 4162 0 247908 0 0 0 KRISTINA CRYSTAL CHIEF REVENUE OFFICER 145159 0 0 0 0 0 7177 0 6932 0 159268 0 0 0 X 28 0 X 29 306360 MARKET QUOTE 1 0 1 0 PART I, LINE 33: NO VALUES WERE REPORTED ON FORM 990 PART VIII, STATEMENT OF REVENUE, LINE 1, FOR WORKS OF ART BECAUSE THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. FORM 990, PART III, LINE 2 OUTREACH PROGRAM WITH JUNCTION NEIGHBORHOOD FORM 990, PART III, LINE 3 CONTINUED REDUCED PROGRAMMING DUE TO COVID FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S GOVERNING BODY AND THE ORGANIZATION'S DIRECTOR OF FINANCE/CHIEF FINANCIAL OFFICER. FORM 990 IS SENT ELECTRONICALLY TO THE BOARD WITH AN OPPORTUNITY FOR MEMBERS TO PROVIDE COMMENT PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD MEMBERS AND COMMITTEE MEMBERS SHALL REPORT TO THE AUDIT COMMITTEE CONCERNING ALL TRANSACTIONS AND ALL BUSINESS OR PROFESSIONAL RELATIONSHIPS OF THE MUSEUM, WITH ANY OF THE COMPANIES, FIRMS OR INSTITUTIONS OR INVOLVING ANY OF THE INTERESTS AMOUNTING TO MORE THAN $10,000 PER YEAR. WHENEVER A MATTER INVOLVING ANY CONFLICT OF INTEREST ON THE PART OF ANY DIRECTOR IS DISCUSSED, OR PROPOSED FOR ACTION, SUCH CONFLICT SHALL BE DISCLOSED TO OTHER DIRECTORS PRESENT, AND THE DIRECTOR HAVING SUCH CONFLICT SHALL NOT VOTE OR USE HIS OR HER PERSONAL INFLUENCE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE DIRECTOR/CEO OF THE TOLEDO MUSEUM OF ART IS DETERMINED ANNUALLY. IN ADDITION TO THE TERMS OF THE DIRECTOR'S/CEO'S EMPLOYMENT AGREEMENT, THE BOARD, THROUGH ITS CHAIR AND THE CHAIR OF THE LEADERSHIP & GOVERNANCE COMMITTEE, CONSIDER ALL RELEVANT FACTORS, INCLUDING BUT NOT LIMITED TO, EACH OF THE BOARD MEMBER'S EVALUATIONS OF THE DIRECTOR/CEO; THE DIRECTOR'S/CEO'S ACCOMPLISHMENT OF ANNUAL AND LONG TERM GOALS; THE REPUTATION AND IMPACT OF THE DIRECTOR/CEO IN THE COMMUNITY, REGION, ART WORLD AND OTHERWISE; AND COMPENSATION OF OTHER ART MUSEUM LEADERS WHOSE MUSEUMS ARE INCLUDED IN THE TOLEDO MUSEUM OF ART'S DISTINGUISHED PEER GROUP, AS WELL AS ART MUSEUMS THAT ARE OTHERWISE SIMILAR IN STATURE, SCOPE AND SIZE. THE DIRECTOR/CEO AND THE HUMAN RESOURCES DEPARTMENT WORK TOGETHER TO DETERMINE THE COMPENSATION OF ALL OTHER EMPLOYEES USING COMPARABLE MARKET DATA FOR SALARIES AND BENEFITS. FORM 990, PART VI, SECTION C, LINE 19 ALL OF THE ABOVE DOCUMENTS ARE AVAILABLE ON REQUEST. FORM 990, PART VI, SECTION A, LINE 2: BASED ON THE INFORMATION THAT IS AVAILABLE TO THIS ORGANIZATION, NONE OF THE OFFICERS, DIRECTORS, TRUSTEES, OR KEY EMPLOYEES, OR HIGHEST COMPENSATED EMPLOYEES, OR HIGHEST COMPENSATED PROFESSIONAL AND OTHER INDEPENDENT CONTRACTORS ARE RELATED TO EACH OTHER THROUGH FAMILY RELATIONSHIPS. IN ADDITION, THEY DO NOT HAVE COMMON OWNERSHIP OF BUSINESSES NOR EMPLOYMENT RELATIONSHIPS WITH EACH OTHER. THESE INDIVIDUALS COULD HAVE PROFESSIONAL DEALINGS WITH EACH OTHER FROM TIME TO TIME IN THE NORMAL COURSE OF BUSINESS. HOWEVER, ANY SUCH BUSINESS DEALINGS AMONG THE SPECIFIED PARTIES WOULD NOT IMPACT THIS ORGANIZATION. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF PERPETUAL AND SPLIT-INTEREST TRUST 15,854,726. PPP LOAN UPDATE DISCLOSURE: IN FY21, THE TOLEDO MUSEUM OF ART RECEIVED FORGIVENESS OF THEIR FIRST PPP LOAN OF $1,853,725 IN DECEMBER 2020 AND RECEIVED A SECOND PPP LOAN OF $1,630,535 IN MARCH 2021. THE MUSEUM EXPECTS TO RECEIVE FULL FORGIVENESS FOR THIS LOAN AS WELL. 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