2022-05-13T15:25:53-05:00 2021-06-30 366055558 Grant Thornton LLP 1000 Wilson Blvd Suite 1400 Arlington VA 22209 990 2020-07-01 231365388 Philadelphia Museum of Art PHIL 2157638100 PO Box 7646 Philadelphia PA 191017646 Deborah Johnston CFO 2156847801 2022-05-15 1 Deborah Johnston XXX-XX-XXXX Mary Torretta P00247251 7038477500 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z Timothy Rub PO Box 7646 Philadelphia PA 191017646 195976027 0 X www.philamuseum.org X 1876 PA The Philadelphia Museum of Art, in partnership with the city, the (See Schedule O for more details.) region,and art museums around the globe, seeks to preserve, enhance, interpret, and extend the reach of its great collections in particular, and the visual arts in general, to an increasing and increasingly diverse audience as a source of delight, illumination and lifelong learning. 65 64 538 243 -1109252 0 37859475 93931536 4908563 2410840 25618762 19026083 1481861 1444509 69868661 116812968 0 0 0 0 33807416 28568596 169525 129614 4465588 36522175 35542983 70499116 64241193 -630455 52571775 1099037371 1255022756 170921886 137961142 928115485 1117061614 X The Philadelphia Museum of Art seeks to preserve, enhance, interpret, and extend the reach of its great collections in particular, and the visual arts in general, to an increasing and increasingly diverse audience as a source of delight, (See Schedule O for more details) illumuniation, and lifelong learning.The Philadelphia Museum of Art in partnership with the city, the region and art museums around the globe-seeks to preserve, enhance, interpret and extend the reach of its great collections in particular and the visual arts in general, to an increasing and increasingly diverse audience as a source of delight, illumination, and lifelong learning. 0 0 33754971 33341 Exhibitions, Curatorial, and Collections (see schedule O for additional information)Since our founding at the 1876 Centennial Exhibition, the Philadelphia Museum of Art has accumulated one of the world's leading art collections with 250,000 works spanning 4,000 years. Highlights of the collection include: The world's largest and most important collection of works by Marcel Duchamp. The greatest collection of sculpture by Constantin Brancusi outside Europe. (See Schedule O for more details) The finest public collection of Auguste Rodin's sculpture in the United States. Superb Impressionist and Post-Impressionist paintings, including Paul Czanne's The Large Bathers, Vincent van Gogh's Sunflowers, and important paintings by Douard Manet, Claude Monet, Pierre-Auguste Renoir, Camille Pissarro, and Edgar Degas. Exceptional American painting, sculpture, furniture, silver, and ceramics-including the remarkable creations of the Shakers and Pennsylvania Germans that reflect Philadelphia's central role in American history. Extraordinary period rooms and architectural ensembles from around the world.The museum's landmark main building opened in 1928 at the western end of the Benjamin Franklin Parkway. Other buildings that make up the campus include the Perelman Building, the Rodin Museum, and the two great eighteenth-century houses in Fairmount Park, Mount Pleasant and Cedar Grove. The past year was one of the most momentous in the museum's history, bringing the milestone completion of the Core Project after years of planning and preparation. The Core Project construction encompassed 140,000 square feet on three levels of the ninety-year-old building, including 90,000 square feet of new public space and more than 20,000 square feet of new gallery space, all without closing to the public or expanding the building footprint. The entire design, conceived by renowned architect Frank Gehry, reflects the utmost care and respect for the original architecture, in the choice of materials, the layout of new spaces, and all the new elements. The new spaces will make a lasting difference for our vision to be a place that is welcoming for all and they bring many long term benefits: sharing more of the collection, engaging new and more diverse audiences, and stewarding our historic building to serve future generations. With the completion of the Core Project in May 2021, we unveiled a new suite of galleries devoted to American art from the early seventeenth century to around 1850. The 10,000-square-foot space has been installed to tell the story of how Philadelphia became the young nation's cultural capital, and how Black, Indigenous, and Latin American artists contributed to the development of American art. These new galleries have welcomed more than 46,000 in-person museum visitors to date.The Core Project also created 10,000 square feet of gallery space for modern and contemporary art. The inaugural presentation, entitled New Grit: Art and Philly Now (May 7-August 22, 2021), featured twenty-five living artists connected to or inspired by our city, spanning installation, film, digital art, photography, painting, fiber art, sculpture, and performance. Additionally, Senga Nengudi: Topologies (May 2 - July 25, 2021) was the museum's first major monographic exhibition of a Black female artist. A leader of the 1970s Black American avant-garde, Nengudi has built a powerful and innovative body of work rooted in her commitment to collaboration. Attendance was 49,000 visits, 40% of all main building visits. Due to the pandemic, the museum continued to operate with limited public hours at the main building and Rodin locations, closures at all our other locations, and social distancing restrictions that hindered our regular, pre-pandemic programming. However, the caliber of exhibitions presented during the past year encouraged visitors to return to our galleries, and online participation. The museum continued to progress on the comprehensive Diversity, Equity, Inclusion, and Access (DEIA) initiative that launched in 2020. We completed a museum-wide assessment using the Intercultural Developmental Inventory; trainings for board, staff, and volunteers; a series of guest speakers from the broader museum field; a DEIA statement adopted by the Board of Trustees; and the creation of employee resource groups for staff from historically marginalized backgrounds (BIPOC and LGBTQ). In June 2021, Alphonso Atkins Jr. was appointed as the Miller Worley Deputy Director for Diversity, Equity, Inclusion, and Access, a newly established and endowed position. 7985491 24399 Education, library, and community programs for children, disabled, and general public to provide a better understanding of Museum's collection and art in general. (see schedule O for additional information)Education is at the very heart of our mission, and a primary means of serving our visitors and engaging new audiences. Working collaboratively with partners like the School District of Philadelphia (SDP) and other community stakeholders allows us to create programs for our visitors that respond directly to their needs. Our longstanding relationship with the SDP has resulted in the creation of virtual field trips, modeled on our most popular school offering: single-visit tours. (See Schedule O for more details)These virtual field trips are free of charge for Philadelphia public and charter schools. During the 2020-21 school year, the museum served 9,125 students through this program. Over 90% of those participants represent Philadelphia public and charter schools. We also introduced virtual educator professional development and provided digital curriculum resources for both educators and kids at home.Similarly, virtual programs like Art Museum Playdates from Home and digital resources like Let's Look videos provided opportunities for families to engage in creative play and remain connected to the museum while learning from the safety and comfort of home. This past summer, the museum deepened our commitment to families with the launch of Art Kids to send the strong message that we offer unparalleled experiences for children whenever they visit. Art Kids is our first comprehensive audience engagement initiative following pandemic closures. A safe and gradual return to in-person programs for children and families was identified as a key strategy for the museum's recovery. This initiative seeks to rebuild our loyal family audience base, to re-engage with the Philadelphia community more broadly, and to restore earned income streams. Art Kids encompasses art making programs, playdates, distributable art making kits, and special events, all of which aim to bring our collection of some 250,000 works of art to life for children.Throughout the year, the museum offered virtual programs for adult audiences, such as lectures with guest artists and scholars. The program schedule ranged from deep dives into the history of a single artist like Horace Pippin or Mary Cassatt to interactive programs that focus on individual creativity and wellness. Lectures and conversations complemented special exhibitions that feature works of contemporary artists 7008167 3113434 Auxiliary activities and public relations, (see schedule O for additional information)The museum was forced to close twice during the fiscal year ending June 30, 2021 due to government mandates related to the COVID-19 pandemic. Consequently the museum was only open about 32 weeks, and with reduced capacity, and number of days open. The museum welcomed 192,297 visitors. We engage visitors through creativity in the presentation and interpretation of our collection and special exhibitions. We recognize that surprise, delight, and inspiration are essential to the experience of great works of art.(See Schedule O for more details)The museum is committed to making the museum welcoming and accessible to all. In fiscal year 2021 the museum offered approximately 40 pay what you wish days, including weekday evening every week, the first Sunday of each month and Martin Luther King Day.The museum engages visitors through creativity in the presentation and interpretation of our collection and special exhibitions (see detailed exhibition information for fiscal year 2021 above). We recognize that surprise, delight, and inspiration are essential to the experience of great works of art. The museum membership program provides unlimited access to the museum during operating hours, as well as programing and events that enhance the member experience. Impact of COVID-19In early 2020, an outbreak of the novel strain of coronavirus (COVID-19) emerged globally. As a result, there have been mandates from Federal, State and Local authorities resulting in an overall decline in economic activity. The pandemic may continue to adversely affect operations and financial condition, including but not limited to the ability of the Museum to remain open to the public, state and local support, and financial markets, impacting investment valuations and interest rates. The Museum continues to monitor the pandemic and is prepared to take additional measures to protect the financial health of the Museum and promote the continuity of its mission. Under the Coronavirus Aid, Relief, and Economic Security (CARES) Act several relief programs were created including the Paycheck Protection Program (PPP), and the Employee Retention Credit (ERC). The Museum received benefits under both programs. CARES Act Support received by the Museum, which represents non-recurring federal aid awards during the year ended June 30, 2021, is as follows: Forgiveness of PPP Loan (including interest) $ 5,158,264Employee Retention Credits 4,753,220Total CARES Act Support $ 9,909,484 48748629 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 182 0 1 538 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 65 64 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA NJ NY CT FL CA AL AK AR CO GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NM NC ND OH OK OR RI SC TN UT VA WA WV WI DC X Deborah Johnston 2156847801 2525 Pennsylvania Avenue Philadelphia PA 19130 Timothy F Rub Director and CEO 35.00 X X 468163 0 168021 Gail M Harrity Term 0321 President and COO 35.00 X X 339061 0 32994 Amachi Ackah Trustee 1.00 X 0 0 0 Marta Adelson Trustee 1.00 X 0 0 0 John R Alchin Trustee 1.00 X 0 0 0 Dennis Alter Trustee 1.00 X 0 0 0 Eduardo Ardiles Trustee 1.00 X 0 0 0 Barbara Aronson Trustee 1.00 X 0 0 0 Andrea M Baldeck MD Trustee 1.00 X 0 0 0 Sandra K Baldino Trustee 1.00 X 0 0 0 Sheldon M Bonovitz Trustee 1.00 X 0 0 0 Ira Brind Trustee 1.00 X 0 0 0 Julian Brodsky Trustee 1.00 X 0 0 0 Ellen Caplan Trustee 1.00 X 0 0 0 Emily Cavanagh Trustee 1.00 X 0 0 0 Kemel Dawkins Trustee 1.00 X 0 0 0 Romulo L Diaz Jr Trustee 1.00 X 0 0 0 H Richard Dietrich III Trustee 1.00 X 0 0 0 Orlando Esposito Trustee 1.00 X 0 0 0 Edward Fernberger Jr Trustee 1.00 X 0 0 0 Jaimie Spector Field Vice Chair 1.00 X X 0 0 0 Julia Fleischner Trustee 1.00 X 0 0 0 Amy A Fox Trustee 1.00 X 0 0 0 Mrs Jack M Friedland Trustee 1.00 X 0 0 0 Hope D'Oyley-Gay Trustee 1.00 X 0 0 0 David Haas Trustee 1.00 X 0 0 0 Phoebe Haddon Trustee 1.00 X 0 0 0 Anne F Hamilton Trustee 1.00 X 0 0 0 Osagie O Imasogie Trustee 1.00 X 0 0 0 Joan M Johnson Trustee 1.00 X 0 0 0 Tac Justi Trustee 1.00 X 0 0 0 George B Kelly Trustee 1.00 X 0 0 0 David D Langfitt Trustee 1.00 X 0 0 0 Victoria McNeil Le Vine Trustee 1.00 X 0 0 0 Maxine Lewis Trustee 1.00 X 0 0 0 Sueyun Locks Trustee 1.00 X 0 0 0 Alba Martinez Trustee 1.00 X 0 0 0 John J Medveckis Trustee 1.00 X 0 0 0 Leslie A Miller Chair 1.00 X X 0 0 0 Hilarie Morgan Trustee 1.00 X 0 0 0 Martha Hamilton Morris Trustee 1.00 X 0 0 0 Michael K Pearson Trustee 1.00 X 0 0 0 Zoe C Pappas Vice Chair 1.00 X X 0 0 0 Ajay Raju Trustee 1.00 X 0 0 0 Jennifer Rice Trustee 1.00 X 0 0 0 Lyn M Ross Trustee 1.00 X 0 0 0 Marsha W Rothman Trustee 1.00 X 0 0 0 Pia RoyChowdhury Trustee 1.00 X 0 0 0 Mark E Rubenstein Trustee 1.00 X 0 0 0 Angelica Zander Rudenstine Trustee 1.00 X 0 0 0 Katherine Sachs Trustee 1.00 X 0 0 0 David William Seltzer Trustee 1.00 X 0 0 0 Martha McGeary Snider Trustee 1.00 X 0 0 0 Joan F Thalheimer Trustee 1.00 X 0 0 0 Bruce E Toll Trustee 1.00 X 0 0 0 Constance H Williams Chair Emeriti 1.00 X X 0 0 0 Charles K Williams II Trustee 1.00 X 0 0 0 Jerry Wind Trustee 1.00 X 0 0 0 Darell L Clark Trustee Ex Officio 1.00 X 0 0 0 John Crable Trustee Ex Officio 1.00 X 0 0 0 Kristen Engelman Trustee Ex Officio 1.00 X 0 0 0 Mark B Goodheart Trustee Ex Officio 1.00 1.00 X 0 0 0 James F Kenney Trustee Ex Officio 1.00 X 0 0 0 Tom Wolf Trustee Ex Officio 1.00 X 0 0 0 Marlene S Dooner Trustee Ex Officio - Term 1.00 X 0 0 0 Catherine K Altman Trustee Ex Officio 1.00 X 0 0 0 Deborah Johnston CFO 35.00 1.00 X 251941 0 31554 Jeffrey Blair Term 720 Secretary and General Coun 35.00 X 168456 0 14581 William Petersen start 820 Secretary and General Coun 35.00 X 97878 0 897 Jonathan L Peterson Director of Development 35.00 X 255158 0 22511 Al Shaikoli Director of Engineering&Fa 35.00 X 182006 0 12875 Alice Beamesderfer Deputy Director for Collec 35.00 X 168174 0 24405 William Weinstein Director of IIT 35.00 X 157365 0 29238 Danielle Smereczynski Deputy Director of Development 35.00 X 174521 0 31455 John Paul Aylmer Controller 35.00 X 168350 0 10115 Christine Doobinin Director of Retail 35.00 X 157117 0 17526 Tracy Button Term 0820 Director of Marketing and Communications 35.00 X 151943 0 25887 2740133 0 422059 45 0 1 0 Dan Lepore & Sons 501 Washington Street Suite 2 Conshohocken PA 19428 Construction 5132582 Allied Universal Security Services PO Box 828854 Philadelphia PA 191828854 Security 2680772 Philadelphia D&M Inc 500 Davis Drive Suite 100 Plymouth Meeting PA 19462 Construction 2628944 LF Driscoll Company LLC 9 Presidential Boulevard Bala Cynwyd PA 190040468 Construction 2380162 Berlin Steel Construction Co 501 Garfield Ave West Chester PA 19380 Construction 2275418 41 3444831 334925 16480994 73670786 11460242 93931536 Admissions 900099 2157072 2157072 Publication distributi 900099 44100 44100 Conservation services 900099 24580 24580 Education programs 611710 24399 24399 Special Events 900099 6567 6567 154122 154122 2410840 4470258 -1140083 5610341 53595 53595 92938926 77973304 409797 14965622 -409797 14555825 14555825 56900 334925 193825 -136925 -136925 1377298 586133 791165 760334 30831 Parking revenues 900099 524813 524813 Concession Fees 900099 211861 211861 736674 116812968 3171174 -1109252 20819510 2619793 1020423 1287907 311463 19913412 15362919 2238847 2311646 826596 632092 110859 83645 3189949 2372084 470746 347119 2018846 1482825 317255 218766 820242 820242 197856 9995 187861 66521 66521 129614 129614 2261961 2261961 5883271 4782869 838779 261623 336552 295384 7126 34042 842181 568940 241912 31329 870419 679269 95575 95575 7743 7743 2485530 2277609 154619 53302 27747 27508 162 77 330 330 667512 607403 44618 15491 14709527 13384970 983186 341371 1152949 357487 794622 840 Acquisitions 2164315 2164315 Special exhibitions 1324848 1324848 1723479 1389946 103848 229685 64241193 48748629 11026976 4465588 76431497 72849186 71983867 72448198 1410668 4879109 544069 747736 1567881 936343 616612553 135937411 471580409 480675142 121600438 137667684 341865574 469869050 12052968 14950308 1099037371 1255022756 22481867 17331192 1866498 2644804 144995591 116590939 1577930 1394207 170921886 137961142 X 414153982 469222774 513961503 647838840 928115485 1117061614 1099037371 1255022756 X 52571775 135422773 951581 X 0 1 X 1 0 X 64938967 51460486 74870679 37859475 93931536 323061143 3400000 3500000 3400000 3000000 3400000 16700000 68338967 54960486 78270679 40859475 97331536 339761143 26563632 313197511 4157230 5602264 7819378 6561365 4523853 28664090 1573977 1459850 2005664 1028466 743241 6811198 375236431 42181918 0.83470 0.86400 X Schedule A, Part II, Line 10, Explanation of Other Income: Parking revenues - 2016 Amount: $ 1,060,611. 2017 Amount: $ 924,623. 2018 Amount: $ 997,660. 2019 Amount: $ 742,989. 2020 Amount: $ 524,813. Concession fees - 2016 Amount: $ 513,366. 2017 Amount: $ 535,227. 2018 Amount: $ 450,449. 2019 Amount: $ 262,942. 2020 Amount: $ 211,861. Gross receipts from fundraising special events - 2018 Amount: $ 557,555. 2019 Amount: $ 22,535. 2020 Amount: $ 6,567. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 77664 77664 64163529 64241193 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 113732 117039 113727 77664 422162 250000 250000 500000 250000 1250000 1875000 X X X X 0 463466012 22306097 149145849 27381223 607536735 483824491 4303179 2750163 27411821 463466012 487334473 4751964 18877351 27139297 483824491 466725791 6558162 40482695 26432175 487334473 437090620 6121677 48780666 25267172 466725791 0.16870 0.54770 0.28360 1 0 2983347 2983347 554026411 120186939 433839472 35311482 15750472 19561010 24291313 24291313 480675142 Limited partnerships and other 2592272 F US stock funds 64475213 F Global stock funds 132199246 F Global(exUS)emerging mkts stock fds 36678051 F Hedge funds 78901467 F Private equity & venture capital fds 140467879 F Real asset funds 14554922 F 469869050 Obligations under split-interest agreements 1394207 1394207 X 255105318 135422773 3400000 1731538 140554311 114551007 2261961 2261961 116812968 66159190 3400000 779958 4179958 61979232 2261961 2261961 64241193 Part III, Line 1a: The collections, which were acquired through purchases and contributions since the Museum's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Unexpended proceeds from deaccessions are reflected in the unrestricted net asset class. Their use is limited, however, by museum professional standards, which require that such proceeds be made available solely for acquisition of other art objects. Part III, Line 4: The Museum is home to over 245,000 objects, spanning the creative achievements of the Western world since the first century AD and those of Asia since the third millennium BC. The European holdings date from the Medieval era to the present, and the collection of arms and armor is the second largest in the United States. The American collections are among the finest in the country, as are the expanding collections of modern and contemporary art. In addition, the Museum houses encyclopedic holdings of costume and textiles as well as prints, drawings, and photographs that are displayed in rotation for reasons of preservation. Part V, Line 4: The endowment is used to maintain the collection of artwork and to acquire future works of art that enhance and promote the mission of the Philadelphia Museum of Art. Part X, Line 2: The Museum is exempt from federal income tax under Internal Revenue Code (the Code) 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 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 its financial statements. Part XI, Line 2d - Other Adjustments: Cost of goods sold 586,133. Change in FMV of interest rate exchange agreements 951,580. Fundraising event expenses 193,825. Part XII, Line 2d - Other Adjustments: Cost of goods sold 586,133. Fundraising event expenses 193,825. Central America And The Caribbean 0 0 Investments 178363375 0 0 0 0 0 0 178363375 0 178363375 1 0 1 1 1 0 Part III Accounting Method: X X X X X X 1 Grenzebach Glier & Associates Inc 401 N Michigan Avenue Suite 2800 Chicago IL 60611 Consultant 0 0 75999 -75999 Pennington Gray 7 Winston Farm Lane Far Hills NJ 27162 Consultant 0 0 53615 -53615 129614 -129614 PA NJ NY CT FL CA AL AK AR CO GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NM NC ND OH OK OR RI SC TN UT VA WA WV WI DC Philadelphia Show 391825 334925 56900 193825 391825 334925 56900 193825 193825 -136925 Schedule G, Part I, Line 2b, Column (v) Fundraising consultant fees are paid at a stated rate per contract and reimbursements for reasonable travel and other costs are paid as incurred. X X X X 1 1 0 0 0 0 0 0 0 Timothy F Rub Director and CEO 468163 0 0 0 0 0 124842 0 43179 0 636184 0 0 0 Gail M Harrity Term 0321 President and COO 339061 0 0 0 0 0 14125 0 18869 0 372055 0 0 0 Deborah Johnston CFO 251941 0 0 0 0 0 12685 0 18869 0 283495 0 0 0 Jonathan L Peterson Director of Development 255158 0 0 0 0 0 12674 0 9837 0 277669 0 0 0 Danielle Smereczynski Deputy Director of Development 174521 0 0 0 0 0 8993 0 22462 0 205976 0 0 0 Al Shaikoli Director of Engineering&Fa 182006 0 0 0 0 0 6865 0 6010 0 194881 0 0 0 Alice Beamesderfer Deputy Director for Collec 168174 0 0 0 0 0 8618 0 15787 0 192579 0 0 0 William Weinstein Director of IIT 157365 0 0 0 0 0 6880 0 22358 0 186603 0 0 0 Jeffrey Blair Term 720 Secretary and General Coun 168456 0 0 0 0 0 8721 0 5860 0 183037 0 0 0 John Paul Aylmer Controller 168350 0 0 0 0 0 8402 0 1713 0 178465 0 0 0 Tracy Button Term 0820 Director of Marketing and Communicat 151943 0 0 0 0 0 7641 0 18246 0 177830 0 0 0 Christine Doobinin Director of Retail 157117 0 0 0 0 0 3881 0 13645 0 174643 0 0 0 A Philadelphia Authority for Industrial Development 232237287 7178184U9 2017-08-01 46530000 Reissuance of Revenue Bonds(Philadelphia Museum of Art Project)Series 2008 0 0 0 B Philadelphia Authority for Industrial Development 232237287 Noneavail 2017-04-13 100000000 Financing of the renovation of existing building 0 0 0 A 9630000 46530000 46530000 2010 1 0 1 1 B 20000000 100000000 145000 99855000 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 1 1 0 0 0 1 A 0 0 0 1 1 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 Schedule K, Part IV, Line 2(c) (A) - Rebate computation for the period from June 23, 2015 to August 1, 2017 (the "Computation Period") was completed on January 12, 2021. The reissuance on August 1, 2017 begins a new 5 year period, with rebate computation due August 2022. Schedule K, Part IV, Line 2(c) (B) - Draw down loan; the full $100,000,000 was drawn within three years of the issue date. X 476 X 157 11460242 Market Value 0 0 0 Part I, Column (b): Both the number and the market value of the contributions received is reported. Form 990, Part VI, Section A, line 2 Ira Brind and Jamie Field, both Trustees, have a familial relationship. Form 990, Part VI, Section B, line 11b Form 990 is prepared by the Museum's Finance Department. The return is reviewed by management and outside independent tax advisors. The return is made available to all trustees for review prior to being filed with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c The Museum's Conflict of Interest Policy is reviewed annually and updated periodically by The Museum's Board of Trustees. The Museum's Board of Trustees, Officers and Key Employees complete an Annual Conflict of Interest Questionnaire. The Museum's Conflict of Interest Policy requires, among other things, that Trustees, Officers and Key Employees disclose conflicts and potential conflicts and that interested parties not participate in any vote to consider a transaction that might constitute a conflict. Any repored conflicts are reveiwed and mitigated by the museum's Governance Committee. There were no conflicts noted in fiscal year 2021. Form 990, Part VI, Section B, line 15 The process the Museum uses to establish compensation for officers and key employees includes a complete review of executive compensation levels by the Museum's Compensation Subcommittee. The review is based on a market analysis prepared by the an independent third party under the direction and supervision of the Human Resources Department and internal Legal Council. The results are shared with the compensation subcommittee. The Compensation subcommittee contemporaneously documents the results of the deliberations and decisions in the minutes. Form 990, Part VI, Section C, line 19 The Museum's public version of form 990 is posted annually on the website www.guidestar.org. The Museum's Annual Report and Audited Financial Statements, are posted on its website. The Museum's governing documents, conflict of interest policy and form 990 are available upon request. Form 990, Part XI, line 9: Change in fair value of interest rate exchange agreement 951,581. The Anne H & Frederick Vogel III Collection for Philadelphia Museum of Art PO Box 7646 Philadelphia PA 19101 364459089 Assembling a collection of American Furniture & Decorative Art for PMA. PA 501(c)(3) 509(a)(3) I Philadelphia Museum of Art 1 Samuel S Fleisher Art Memorial PO Box 7646 Philadelphia PA 19101 232249360 Operate and maintain a school of art and museum. PA 501(c)(3) 10 Philadelphia Museum of Art 0 Charitable Remainder Trusts - PA (1) CHARITABLE TRUST PA N/A T 1 Charitable Remainder Trusts - NC (3) CHARITABLE TRUST NC N/A T 1 Charitable Remainder Trusts - NY (1) CHARITABLE TRUST NY N/A T 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 Samuel S Fleisher Art Memorial L 65004 FMV