2021-05-17T08:48:22-05:00 2020-06-30 366055558 GRANT THORNTON LLP 757 Third Avenue 3rd Floor New York NY 100172013 990 2019-07-01 131624100 MUSEUM OF MODERN ART MUSE 2127089400 11 West 53rd Street New York NY 10019 James Gara COO/Assistant Treasurer 2127089400 2021-05-17 1 Daniel Romano P00504182 2125990100 2019 2022-09-23 18:48:47Z Glenn Lowry 11 West 53rd Street New York NY 10019 557034620 0 X www.moma.org X 1929 NY The Museum of Modern Art establishes, preserves, and documents a (Continued in Schedule O) permanent collection of modern and contemporary art, presents exhibitions and educational programs, sustains a library, archives, and conservation laboratory and supports scholarship and publications. The Form 990 is one of several reports the museum makes available each year. The Museum encourages it to be read with the audited financial statements, which provide additional financial context. these documents as well as previous years reports can be found on moma.org. as can be seen in the audited financial statements, operating expenses of $230.4 million exceeded operating revenues of $226.0 million by $4.4 million.In FY 2020, the Museum finished with an operating deficit, while at the same time re-aligning its cost structure to ensure long term fiscal sustainability concurrent with a macro-economic business recovery from the pandemic. 52 52 1365 270 4342409 580902 244100473 166781071 30295827 14199882 139692226 53022689 29894119 28140940 443982645 262144582 1649705 1995123 0 0 107416732 112087852 0 0 13440032 157489922 156628749 266556359 270711724 177426286 -8567142 2359955416 2331703503 477186173 478381326 1882769243 1853322177 X The Museum of Modern Art is a private, nonprofit educational institution chartered by the Department of Education of the state of New York in 1929 to foster public awareness of modern and contemporary art. Continued in Schedule O. 0 0 140264597 1995123 35489767 Museum Operations - Curatorial and curatorial support departments include conservation, education, exhibitions, creative, publications, library and archives. The Museum was founded in 1929 as an educational institution and maintains a vast breadth of educational programming, which increased in the years after the opening of the renovated and expanded main facility in 2004. In FY 2020, through diverse education programs, approximately 1.3 million onsite visitors to MoMA had access to or participated in interpretative programs to support their learning in the galleries including labels, audio content (offered in nine languages), gallery tours, interactive spaces, workshops, visual description tours for the blind and partially sighted, and resources for other individuals with special needs. Continued in Schedule O. 13488393 0 5631048 In FY 2020, over 1,200 works were added to this collection, both by donation and by purchase. 42021981 0 0 Security, operations, and maintenance of exhibition galleries and art collection. 195774971 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 0 0 1 0 0 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 870 0 1 1365 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 1 0 X 52 52 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR AZ CA CO CT FL GA HI IL KS KY MA MD ME MI MN MS NC NH NJ NM NY OH OK OR PA RI SC TN UT VA VT WA WI WV X X Karen Stewart 2127089801 11 West 53rd Street NEW YORK NY 10019 X Glenn D Lowry Director/Ex-Officio Trustee 40.00 1.00 X 1905602 0 945156 James Gara COO/Assistant Treasurer 40.00 1.00 X 1277900 0 115737 Anthony Wai Chief Investment Officer 40.00 0.00 X 788976 0 51166 Peter Reed Sr Deputy Dir for Curatorial Affairs 40.00 0.00 X 671977 0 89945 Ruth Shapiro Director of Business Development 40.00 0.00 X 289392 0 326931 Todd Bishop Sr Deputy Dir of External Affairs 40.00 0.00 X 525171 0 85962 Patty Lipshutz General Counsel/Secretary 40.00 1.50 X 468585 0 94045 Jean Savitsky Dir. Real Estate Expansion 40.00 0.00 X 511222 0 49953 Emmanuel Plat Director, Merchandising 40.00 0.00 X 500298 0 59971 Thomas Randon General Mgr - Retail 40.00 0.00 X 457892 0 41068 Ann Temkin Chief Curator-Painting&Sculpture 40.00 0.00 X 391703 0 104608 Christopher Hudson Publisher 40.00 0.00 X 378082 0 108728 Ramona Bannayan Sr Deputy Dir for Exhibitions 40.00 0.00 X 389258 0 83506 Jan Postma Chief Financial Officer 40.00 0.00 X 396927 0 72886 Christophe Cherix Chief Curator - Drawings and Prints 40.00 0.00 X 387655 0 81330 Odessa Matsubara Chief Human Resources Officer 40.00 0.00 X 381586 0 58988 Rajenda Roy Chief Curator - Film 40.00 0.00 X 370207 0 67545 Nancy Adelson Deputy General Counsel 40.00 0.00 X 294488 0 134273 Tunji Adeniji Director of Facilities and Security 40.00 0.00 X 321964 0 42525 Stuart Comer Chief Curator-Media&Performance Art 40.00 0.00 X 309372 0 37349 Martino Stierli Chief Curator - Arch. and Design 40.00 0.00 X 278117 0 48733 Ronald S Lauder Honorary Chairman/Trustee 1.00 0.50 X X 0 0 0 Robert B Menschel Chairman Emeritus/Life Trustee 0.50 0.00 X X 0 0 0 Jerry I Speyer Chairman Emeritus/Trustee 1.00 0.00 X X 0 0 0 Agnes Gund President Emerita/Life Trustee 0.50 0.50 X X 0 0 0 Marie-Josee Kravis President Emeritus/Trustee 1.00 0.00 X X 0 0 0 Donald B Marron Pres Emeritus/Trustee thru Dec, 2019 1.00 0.50 X X 0 0 0 Leon D Black Chairman/Trustee 5.00 0.00 X X 0 0 0 Ronnie Heyman President/Trustee 5.00 0.00 X X 0 0 0 Sid R Bass Vice Chairman/Trustee 1.00 0.00 X X 0 0 0 Mimi Haas Vice Chairman/Trustee 1.00 0.00 X X 0 0 0 Marlene Hess Vice Chairman/Trustee 1.00 0.00 X X 0 0 0 Richard E Salomon Vice Chairman/Treasurer/Trustee 1.00 0.00 X X 0 0 0 Sarah Arison Trustee 1.00 0.00 X 0 0 0 Lawrence B Benenson Trustee 1.00 0.00 X 0 0 0 David Booth Trustee 1.00 0.00 X 0 0 0 Clarissa Alcock Bronfman Trustee 1.00 0.00 X 0 0 0 Patricia Phelps de Cisneros Trustee 1.00 0.00 X 0 0 0 Edith Cooper Trustee 1.00 0.00 X 0 0 0 Paula Crown Trustee 1.00 0.00 X 0 0 0 Steven Cohen Trustee 1.00 0.00 X 0 0 0 David Dechman Trustee 1.00 0.00 X 0 0 0 Anne Dias Griffin Trustee 1.00 0.00 X 0 0 0 Glenn Dubin Trustee 1.00 0.00 X 0 0 0 Lonti Ebers Trustee 1.00 0.00 X 0 0 0 Joel S Ehrenkranz Trustee 1.00 0.00 X 0 0 0 John Elkann Trustee 1.00 0.00 X 0 0 0 Laurence D Fink Trustee 1.00 0.00 X 0 0 0 Glenn Fuhrman Trustee 1.00 0.00 X 0 0 0 Kathleen Fuld Trustee 1.00 0.00 X 0 0 0 AC Hudgins Trustee 1.00 0.00 X 0 0 0 Barbara Jakobson Trustee 1.00 0.00 X 0 0 0 Werner H Kramarsky Trustee thru August, 2019 0.50 0.00 X 0 0 0 Jill Kraus Trustee 1.00 0.00 X 0 0 0 Khalil Gibran Muhammad Trustee 1.00 0.00 X 0 0 0 Philip S Niarchos Trustee 1.00 0.00 X 0 0 0 James G Niven Trustee 1.00 0.00 X 0 0 0 Peter Norton Trustee 1.00 0.00 X 0 0 0 Daniel S Och Trustee 1.00 0.00 X 0 0 0 Maja Oeri Trustee 1.00 0.00 X 0 0 0 Eyal Ofer Trustee as of October, 2019 1.00 0.00 X 0 0 0 Michael S Ovitz Trustee 1.00 0.00 X 0 0 0 Sharon Percy Rockefeller Trustee 1.00 0.00 X 0 0 0 Emily Rauh Pulitzer Trustee 1.00 0.00 X 0 0 0 Richard Roth Trustee as of June, 2020 1.00 0.00 X 0 0 0 Anna Marie Shapiro Trustee 1.00 0.00 X 0 0 0 Anna Deavere Smith Trustee 1.00 0.00 X 0 0 0 Jon Stryker Trustee 1.00 0.00 X 0 0 0 Daniel Sundheim Trustee 1.00 0.00 X 0 0 0 Tony Tamer Trustee 1.00 0.00 X 0 0 0 Steve Tananbaum Trustee 1.00 0.00 X 0 0 0 Xin Zhang Trustee 1.00 0.00 X 0 0 0 Alice M Tisch Trustee 1.00 0.00 X 0 0 0 Gary Winnick Trustee 1.00 0.00 X 0 0 0 Edgar Wachenheim III Trustee 1.00 0.00 X 0 0 0 Eli Broad Life Trustee 0.50 0.00 X 0 0 0 Douglas S Cramer Life Trustee 0.50 0.00 X 0 0 0 Howard Gardner Life Trustee 0.50 0.00 X 0 0 0 David Rockefeller Jr Life Trustee 0.50 0.00 X 0 0 0 Jeanne C Thayer Life Trustee 0.50 0.00 X 0 0 0 Wallis Annenberg Life Trustee 0.50 0.00 X 0 0 0 June Noble Larkin Life Trustee 0.50 0.00 X 0 0 0 11296374 0 2700405 244 0 1 0 COLLINS BUILDING SERVICES INC 24-01 44th Road Long Island City NY 11101 Janitorial Cleaning 3667733 MINDSHARE USA LLC 16368 COLLECTIONS CENTER DRIVE Chicago IL 60693 Advertising 2779502 UNIVERSAL PROTECTION SERVICE LP PO BOX 828854 Philadelphia PA 19182 Security 1076501 IMEREX INC 666 Third Street South 102 Naples FL 34102 Advertising 1007108 MASTERPIECE INTERNATIONAL LTD 39 Broadway New York NY 10006 Art Transport 862341 88 1129826 6697328 49965 158903952 25017357 166781071 Admissions 712100 13260934 13260934 Other Programs 712100 938948 665423 273525 14199882 16667961 491496 16176465 31300 31300 608642 0 608642 608642 608642 298719000 5631048 267995320 0 30723680 5631048 36354728 5631048 444029 30279651 195470 6697328 276057 -80587 -80587 51284130 26618661 24665469 21532110 3133359 Tax Refunds 930000 2167188 2167188 Museum Restaurants 722310 748928 748928 2916116 262144582 41120815 4342409 49900287 1995123 1995123 16274213 3675794 11832225 766194 71901064 56002291 10177361 5721412 5635807 3814382 1406764 414661 15458050 10462194 3858511 1137345 2818718 1897172 702297 219249 1586203 1586203 439136 439136 60000 60000 10206325 10206325 21649927 14674919 5211833 1763175 7813088 6589113 1223975 16680282 15122881 1090083 467318 1598184 1598184 206346 206346 12463698 7828698 4341000 294000 2285595 1556769 265755 463071 224284 31942 192173 169 6616658 6616658 37183977 32107977 5076000 2169153 2085306 83847 Art Aquisition 13488393 13488393 Other Pension Costs 11488000 7775216 2867540 845244 Admin & Other Exp 10076529 9648841 322789 104899 UBI Tax Expense 89000 0 89000 0 303971 194956 89695 19320 270711724 195774971 61496721 13440032 5771353 14083221 126031862 76545907 222869741 204650054 6900407 6486867 0 0 0 16211975 15618047 14143844 8329418 1118331935 392181860 712078468 726150075 741898549 727528053 481664360 520872270 0 0 0 32384857 31439591 2359955416 2331703503 72656864 27935172 0 0 2285029 1439626 312175081 309814453 0 0 0 0 0 0 17800000 32800000 72269199 106392075 477186173 478381326 X 749751844 1101508272 1133017399 751813905 1882769243 1853322177 2359955416 2331703503 X -8567142 4352299 -25232223 X 0 1 X 1 0 X 301824589 293352283 283314867 244100473 166781071 1289373283 0 0 0 0 0 0 0 0 0 0 0 0 301824589 293352283 283314867 244100473 166781071 1289373283 288153958 1001219325 15184334 17428734 20249526 22103647 17307903 92274144 999201 524759 3667244 310883 944398 6446485 4199138 2678785 3053993 2453768 2916116 15301800 1403395712 67971409 0.71340 0.73290 X Schedule A, Part II, Line 10 General Explanation - Other income includes gross income from fundraising and corporate events and ancillary revenue from the restaurant operations. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 60000 0 60000 0 198029627 0 198089627 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 60000 60000 60000 60000 240000 250000 250000 250000 250000 1000000 1500000 X X X X 0 1198064000 131036416 15568915 453623543 891045788 1075718000 207675000 6908000 0 92237000 0 1198064000 1038907000 98858000 20357000 0 82404000 0 1075718000 784321000 251808000 39112000 0 36334000 0 1038907000 605972000 254380000 -30458000 0 45573000 0 784321000 0.16000 0.53000 0.31000 0 0 98499946 98499946 829224980 328055758 501169222 4752020 2178847 2573173 181242556 61947255 119295301 4612433 4612433 726150075 Private Equity Securities 296683020 F Credit Securities 94109820 F Multi-Strat & Other 123345110 F Event Driven Securities 392390 F Real Estate Securities 6341930 F 520872270 Pension and post retirement benefits 106392075 106392075 Schedule D, Part III, Line 1 The Museum's collections, acquired through purchase and contributions, are not recognized as assets on the consolidated statements of financial position. Purchases of collection items are recorded in the year in which the items were acquired as decreases in unrestricted net assets. Contributed collection items are not reflected in the consolidated financial statements. Proceeds from deaccessions, which are reflected as increases in temporarily restricted net assets, are primarily used to acquire other items for the collection and care of the collection. Schedule D, Part III, Line 4 The museum is chartered as an educational institution whose collection of modern and contemporary art is made available to its members and the public to encourage an ever-deeper understanding and enjoyment of such art by the diverse local, national, and international audiences that it serves. In pursuit of this goal, the museum has collected over 200,000 works of painting, sculpture, drawing, printmaking, photography, film, performance, media, architecture, and industrial and graphic design. Through the leadership of its board of trustees and staff, the museum strives to establish, reserve, and document a permanent collection of the highest order that reflects the vitality, complexity and unfolding patterns of modern and contemporary art; present exhibitions and educational programs of unparalleled significance; sustain a library, archives and conservation laboratory that are recognized as international centers of research; and support scholarship and publications of preeminent intellectual merit. Schedule D, Part V, Line 4 Line 4 The Museum's endowment funds consist of approximately 175 individual funds established for a variety of purposes, including art acquisitions, exhibitions, publications, educational and operating support. Its endowment includes both donor restricted endowment funds and funds designated by the Board to function as endowments. As required by Generally Accepted Accounting Principles, net assets associated with endowments funds, including funds designated by the board to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The long term focus of the Museum's investment portfolio is to support the Museum's mission by providing a reliable source of funds for current and future use. The value of the museum's investments have and will fluctuate in response to changing market conditions. Central America and the Caribbean Investments 127800572 Europe (Including Iceland & Greenland) Investments 4326702 0 0 0 0 0 0 132127274 0 132127274 1 0 1 1 1 0 Part I, Line 2: The Museum of Modern Art invests in domestic and foreign limited partnerships that may own an interest in a foreign corporation, passive foreign investment company, or foreign partnership. Nevertheless, the Museum's investment activities may not reach the thresholds required for filing the Forms 926, 5471, 8621 or 8865. To the extent such a form was completed, it has been filed with the Museum's Form 990-T. Part III Accounting Method: David Rockefeller Award Luncheon 3013000 3013000 12362 Party in the Garden 2773000 2773000 150 2 1106798 911328 195470 56493 54491 58731 93830 6892798 6697328 195470 56493 54491 58731 106342 276057 -80587 AK AL AR CA CO CT GA HI IL KS KY MA MD ME MI MN MS NH NJ NM OH OK OR PA RI SC TN UT VA WA WI WV 0 0 0 0 0 0 Schedule G, Part II, Events #1 and #2 Due to the COVID-19 pandemic the annual museum galas were held virtually with no benefits provided to the attendees. 1 MoMA PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 501c(3) 1995123 Operating Support 1 Part I, Line 2: The Museum as sole member of PS1 Contemporary Art Center, Inc (DBA MoMA PS1). In 2000 MoMA PSA and the museum entered into an affiliation to promote the study, knowledge, enjoyment and appreciation of modern and contemporary art through a collaborative program of exhibitions, research, special projects and other educational and curatorial activities. MoMA PS1 retained its separate corporate status and is a support corporation of the museum with the museum as its sole corporate member. The Museum has the right to appoint all members of the MoMA PS1 board of directors. MoMA PS1 and the Museum entered into a management assistance and services agreement whereby the museum provides management assistance and service to MoMA PS1 in certain areas, including accounting and payroll, fundraising and development, coordination of MoMA PS1's information technology, insurance and legal affairs. X X 1 1 X X X X X X 0 1 0 0 0 0 0 1 0 Glenn D Lowry Director/Ex-Officio Trustee 944378 0 956588 0 4636 0 585694 0 359462 0 2850758 0 539251 0 James Gara COO/Assistant Treasurer 542710 0 712990 0 22200 0 76975 0 38762 0 1393637 0 337990 0 Anthony Wai Chief Investment Officer 613656 0 168400 0 6920 0 19000 0 32166 0 840142 0 168400 0 Peter Reed Sr Deputy Dir for Curatorial Affairs 419205 0 250000 0 2772 0 57881 0 32064 0 761922 0 0 0 Ruth Shapiro Director of Business Development 249726 0 18750 0 20916 0 281607 0 45324 0 616323 0 0 0 Todd Bishop Sr Deputy Dir of External Affairs 404385 0 100000 0 20786 0 55449 0 30513 0 611133 0 100000 0 Patty Lipshutz General Counsel/Secretary 446385 0 0 0 22200 0 54583 0 39462 0 562630 0 0 0 Jean Savitsky Dir. Real Estate Expansion 409416 0 100000 0 1806 0 16800 0 33153 0 561175 0 0 0 Emmanuel Plat Director, Merchandising 377666 0 121700 0 932 0 16800 0 43171 0 560269 0 0 0 Thomas Randon General Mgr - Retail 349115 0 90000 0 18777 0 16800 0 24268 0 498960 0 0 0 Ann Temkin Chief Curator-Painting&Sculpture 370952 0 0 0 20751 0 64697 0 39911 0 496311 0 0 0 Christopher Hudson Publisher 351036 0 5000 0 22046 0 67049 0 41679 0 486810 0 0 0 Ramona Bannayan Sr Deputy Dir for Exhibitions 369529 0 0 0 19729 0 44051 0 39455 0 472764 0 0 0 Jan Postma Chief Financial Officer 391514 0 5000 0 413 0 27439 0 45447 0 469813 0 0 0 Christophe Cherix Chief Curator - Drawings and Prints 376352 0 0 0 11303 0 38192 0 43138 0 468985 0 0 0 Odessa Matsubara Chief Human Resources Officer 361379 0 3551 0 16656 0 16800 0 42188 0 440574 0 0 0 Rajenda Roy Chief Curator - Film 369620 0 0 0 587 0 32392 0 35153 0 437752 0 0 0 Nancy Adelson Deputy General Counsel 268518 0 5000 0 20970 0 84826 0 49447 0 428761 0 0 0 Tunji Adeniji Director of Facilities and Security 296567 0 5000 0 20397 0 19000 0 23525 0 364489 0 0 0 Stuart Comer Chief Curator-Media&Performance Art 308645 0 0 0 727 0 8334 0 29015 0 346721 0 0 0 Martino Stierli Chief Curator - Arch. and Design 258690 0 0 0 19427 0 16800 0 31933 0 326850 0 0 0 Part I, Line 1a As a condition of employment, the Museum requires the director to reside in the Museum's apartment on the premises in Museum tower in furtherance of the Museum's operations and mission and for the convenience of the Museum. Health club membership dues of the director are paid for by the Museum and included in the director's compensation. Part I, Line 4b Glenn Lowry received a supplemental retirement plan payment described in comment below. Part I, Line 7 Glenn Lowry- director full-time employee, officer and ex-officio trustee. In 2019 Glenn Lowry earned $944,378 in pre-pandemic base compensation. Column b (ii) includes an annual bonus of $417,337 and a previously scheduled pre-pandemic payment of a multi-year supplemental retirement plan, dating to 2014, of $539,251 for a total of $956,588. These amounts compare to $896,939 in base compensation and an annual bonus of $405,183 in 2018. Column c includes an accrual of $296,939 under the supplemental retirement plan to be paid next year. James Gara - Chief Operating Officer and Assistant Treasurer. Full time employee and officer, not a Trustee. Included in column b(ii), are amounts attributable to earned and paid portions of a pre-pandemic performance-based bonus and a pre-pandemic retention bonus. The performance bonus was awarded based on the achievement by Mr. Gara of certain service and performance requirement in areas such as in operations and investments. The retention bonus was based on Mr. Gara remaining an active employee at the Museum for an agreed upon period of time. Anthony Wai - Chief Investment Officer. Full-time employee but not a trustee. Eligible for retention and annual bonus based on achievement of performance measures. Peter Reed - Former Deputy Director of Curatorial Affairs. Full time employee but not a Trustee. Included in column B (ii) is a pre-pandemic retention bonus based on the achievement of certain service requirements. Ruth Shapiro - Director of Business Development. Full-time employee but not a Trustee. Included in Column C, are amounts attributable to the Voluntary Retirement Plan the Museum completed in fiscal year 2020 for employees meeting specific service and age criteria. Todd Bishop - Senior Deputy Director - External Affairs. Full-time employee but not a Trustee. Included in column (b)(ii) is a pre-pandemic performance bonus. The plan was subject to the achievement of service and performance requirements. Patty Lipshutz - General Counsel and Secretary. Full-time employee and Officer but not a Trustee. Jean Savitsky - Director of Real Estate Expansion. Full time employee but not a Trustee. Included in column B (ii) is a pre-pandemic performance bonus based on metrics tied to completion of the New MoMA building project. Emmanuel Plat - Director of Merchandising, Retail. Full time employee but not a Trustee. Included in column B (ii) is a pre-pandemic performance bonus based on achievement of certain benchmarks by the Museum's retail operation. Thomas Randon - General Manager, Retail. Full time employee but not a Trustee. Included in column B (ii) is a pre-pandemic performance bonus based on achievement of certain benchmarks by the Museum's retail operation. Christopher Hudson Publisher. Full-time employee but not a trustee. Included in Column C, are amounts attributable to the Voluntary Retirement Plan the Museum completed in fiscal year 2020 for employees meeting specific service and age criteria. Nancy Adelson Deputy General Counsel. Full-time employee but not a trustee. Included in Column C, are amounts attributable to the Voluntary Retirement Plan the Museum completed in fiscal year 2020 for employees meeting specific service and age criteria. Part II, Column (C) Amounts reported as deferred compensation, to the extent they include valuation increases, are based on actuarial calculations done for June 30, 2020 as opposed to calendar year 2019. Compensation Reporting Generally All compensation reported on Form 990 in parts VII and Schedule J, including bonuses, are based on calendar year 2019, pursuant to employment contracts with the persons listed. A The Trust for Cultural Resources City of New York Series 2016 911882413 649717TE5 2016-08-02 330117210 Finance new money project and refund prior issues 0 0 0 A 332389580 1723748 152227251 178403305 35277 2019 0 1 0 1 A 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 A 1 Schedule K, Part I, Column e The difference between Part I(e) and Part II, Line 3 is due to interest earnings on bond proceeds. Schedule K, Part I, Column f The bonds refunded the Borrower's Series 2008-One-A (issued 7/23/08) and Series 2012-One-D (issued 5/1/12). Schedule K, Part III, Line 4 The refunding portion of the bonds refunded prior bonds issued before January 1, 2003. The new money portion of the bonds financed a new money project, which was placed in service in fiscal year 2020. The bonds did not finance any private uses. Schedule K, Part III, Line 7 As provided in treasury regulation section 1.141-4(c)(2)(i)(b), the amount of private payments taken into account under the private payment test may not exceed the amount of private business use and/or unrelated trade or business use. Accordingly, the amount of private payments for the reporting period does not exceed the amount stated in Part III, Line 6. The organization has not undertaken an analysis of the private security test with respect to the bonds, as the level of private business use and/or unrelated trade or business reported in Part III, Line 6, is not in excess of amounts permitted under section 145 of the code. X 614 0 Not applicable X 301 25017357 Selling Price 26 0 1 1 Part I, Column (b): Nonmonetary contributions are recorded at estimated fair value at date of receipt if the Museum received certain goods and services that meet criteria under generally accepted accounting principles for recognition as contributions. In accordance with Accounting Standards Codification, the Museum does not treat donations of art as revenue or record these art works on the Statement of Financial Position as these art works are used to support the Museum's educational mission. Proceeds from the deaccession of artwork are used primarily to acquire and maintain other items for the collection. Schedule M, Part I, Line 1 Loans of artwork to the Museum - From time to time Trustees of the Museum may loan artworks to the Museum for a limited duration of time for specific exhibitions. Schedule M, Part I, Line 9 Gifts of stock from the same person, on the same trade date, are considered in the aggregate as one gift. Part I, Line 32b: A third party bank is authorized to sell donated securities as soon as possible upon confirmation by the Museum. The Museum also contracts periodically with various auction houses to facilitate approve deaccessioned of art work. Form 990, Part III, Line 1 Organization's Misson Continued In pursuit of this goal, the Museum has collected over 200,000 works of art, including works of paintings, sculpture, drawing, printmaking, photography, film, media, performance, architecture, and industrial and graphic design. The Museum also operates a publishing program, conducts an extensive educational program, and maintains a major library and archives. its exhibitions are circulated nationally and internationally. The Museum's primary sources of support are admissions fees and membership dues, grants from individuals, foundations, and corporations, endowment income and revenue from retail sales of museum related products. The Museum is managed by a board of trustees, consisting of 52 voting members. A director and an administrative and curatorial staff oversee its operations and implement policy set by the Board. Each year the Museum acquires through donation or purchase, in each of its curatorial departments, numerous works for its collection. Acknowledged worldwide for its collection of 20th and 21st century art, the Museum has been instrumental in introducing the art of this period into the mainstream of modern life. The range of the Museum's program of exhibitions extends from retrospective studies of the work of major modern and contemporary artists to examinations of the cultural and aesthetic contexts of major historical moments, and also supports the work of less well known living artists through continuing exhibitions to review the latest trends in contemporary art. The Museum's programs are organized through six curatorial (drawings & prints, paintings & sculptures, architecture & design, film, photographs, media & performance) and a number of curatorial support departments. The curatorial support departments include collection management, collection and exhibition information, conservation, exhibition administration, exhibition design and production, film operations and preservation, imaging, digital asset management, outgoing loans, provenance, and registrar. In addition, the quality and depth of the Museum's collection enable the Museum to maintain an extensive loan program, which serves institutions both in the united states and abroad. Each year the Museum lends numerous works beyond those exhibited in its own galleries. The Museum was founded in 1929 as an educational institution and maintains a vast breadth of educational programming, which increased in the years after the opening of the renovated and expanded main facility in 2004. In FY 2020, during the approximately five month period the Museum was open following the completion of the New MoMA Project and prior to closure due to the Covid-19 pandemic, through diverse education programs approximately 1.3 million onsite visitors to MoMA had access to or participated in interpretative programs to support their learning in the galleries including labels, audio content (offered in nine languages), gallery tours, interactive spaces, workshops, visual description tours for the blind and partially sighted, and resources for other individuals with special needs. Since the start of the pandemic the Museum has made significant enhancements to facilitate digital access for onsite visitors to use their own devices in the Museum. The education center provides a central location for a wide array of educational resources including three classrooms, a theater, a publicly accessible library, an archive reading room, and three curatorial study centers, and MoMA's online self guided courses. While the worldwide Covid-19 pandemic has limited public access to these spaces, programming teams have pivoted to providing virtual programming, adding to the Museum's existing digital education offerings. Form 990, Part III, Line 4a Since the start of the pandemic the Museum has made significant enhancements to facilitate digital access for onsite visitors to use their own devices in the Museum. After over three years of construction, including a planned four-month temporary closure of the Museum to the public in order to complete construction and art re-installation, an expanded new MoMA opened on October 21, 2019, with a reimagined presentation of modern and contemporary art, catalyzed by a 30% increase in overall gallery space and an improved quality of visitor experience through reconceived entrances, circulation, and amenities, concurrent with an increase in public space, including an expanded below-grade store and a new restaurant with terrace on the sixth floor. The expansion, developed by MoMA with architects Diller Scofidio + Renfro, in collaboration with Gensler, added more than 40,000 square feet of gallery spaces and enables the Museum to exhibit significantly more art in new and interdisciplinary ways. FORM 990, PART IV, LINE 30 Gifts of artwork are considered by individual item. Form 990, Part VI, Section B, line 11b The Museum's form 990 is prepared by Grant Thornton LLP in coordination with the Museum's controller's office with input from many museum departments. It is then reviewed by Museum senior staff including the Director, the Chief Operating Officer, the Chief Financial Officer, and the General Counsel. The 990 is then presented to the Museum's Audit Committee of the Board of Trustees for review and approval. A copy of the 990 is provided to each member for the Board of Trustees electronically or in printed copy prior to filing the return. The 990 is available to the public through the Museum's website www.moma.org. Form 990, Part VI, Section B, line 12c On an annual basis, the Museum distributes its code of conduct to all trustees and designated employees and requires that conflict of interest questionnaires be completed and returned for initial review by the office of the General Counsel and the Director of Human Resources respectively. Amongst other things, the conflict of interest questionnaire requires the responder: confirm that he or she has read and understands the code of conduct, agree to abide by it, identify whether he or she or a family member has any relationship with the Museum that may represent a conflict of interest as defined by the code and report any knowledge of a transaction which should be reported under the code, etc. When potential employee conflicts of interest are reported or identified, when necessary, an investigation is conducted to determine the facts and circumstances and recommendation of action, if warranted. Such action may include, but is not limited to, prohibiting the individual from participating in deliberations and decisions regarding the transaction in question, or taking disciplinary action, which in appropriate circumstances may include suspension or termination. The employee's supervisor is notified of an employee with identified conflicts and the action to be taken, if any. When potential trustee conflicts of interest are reported or identified, the general counsel's office makes a report to a committee of the board of trustees with a recommendation for action, if warranted, including but not limited to disclose to the board of trustees, prohibiting the trustee from participating in and/or voting on the transaction in question, resignation from the board of trustees, etc. The code of conduct further provides that the committee make a recommendation to the Chairman of the Board for decision by the Board. Form 990, Part VI, Section B, line 15 The process for determining the compensation for the Museum director and certain key employees includes reviews and approval by the board of trustees' compensation subcommittee of the executive committee (the "committee") a committee of the governing body consisting of independent trustees, and not including the director or other staff members. In making its determination, the committee obtains and reviews comparability data with respect to compensation levels paid for comparable job positions obtained through the assistance of an expert compensation consultant which, in appropriate instances, includes survey data regarding compensation levels paid by similarly situated organizations for comparable employment positions, form 990 data from other leading Museums and cultural and education institutions, as well as for profit institutions which may be interested in recruiting the Museum staff. The determination, deliberation and decisions made by the committee are contemporaneously substantiated and documented in minutes of the meeting which include the committee members present and participation, the compensation terms approved, the data relied upon and how it was obtained. The committee periodically meets and reviews, the last meeting was held on December 1, 2020. Form 990, Part VI, Section C, line 19 The Museum's governing documents are available for review. Conflict of interest policy, code of conduct policy, prior years audited financial statements and prior years 990 are available to the public through the Museum's website https://www.moma.org/about/who-we-are/documents-policies. Form 990, Part VII The hours disclosed for officers, key employees and highly compensated individuals is 40 hours which represents a full-time designated employee. For those listed on Part VII the hours worked, in reality, are significantly more than the standard full-time employee norm. Form 990, Part XI, Line 9 Other Changes in Net Assets The other changes in net assets are related to Defined Benefit Plan changes other than net periodic benefit costs partially offset by organizations that file a separate return. -$25,232,223 AFE LLC 11 West 53rd Street New York NY 10019 202379359 Real Estate NY -290157 3097625 Museum of Modern Art Modern and Contemporary Art Support Corp 11 West 53rd Street New York NY 10019 133910972 Receive, acquire & hold title DE 501(c)(3) Line 12a, I Museum of Modern Art 1 PS1 Contemporary Art Center Inc 46-01 21st Street New York NY 11101 237379091 Contemporary Art Exhibitions NY 501(c)(3) Line 7 Museum of Modern Art 1 The International Council of The Museum of Modern Art 11 West 53rd Street New York NY 10019 136143744 Support Corporation NY 501(c)(3) Line 12a, I N/A 0 0 MoMA Auxiliaries 11 West 53rd Street New York NY 10019 133975341 Manage Retail Operations DE 501(c)(3) Line 12a, I Museum of Modern Art 1 Alta Cultura 11 West 53rd Street New York NY 10019 134114902 General Business Corporation DE N/A C 1.00000 1 5 Charitable Trusts Various New York NY 10019 Trust NY N/A T 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 1 The International Council of The Museum of Modern Art C 470757 FMV The International Council of The Museum of Modern Art O 455919 Cost The International Council of The Museum of Modern Art Q 52646 Cost The International Council of The Museum of Modern Art R 254013 Cost PS1 Contemporary Art Center Inc L 699720 Cost PS1 Contemporary Art Center Inc R 561127 Cost MoMA Auxiliaries P 3359950 Cost PS1 Contemporary Art Center Inc D 2000000 FMV PS1 Contemporary Art Center Inc B 1433996 Cost The International Council of The Museum of Modern Art S 137290 Cost Modern and Contemporary Art Support Corp Q 190428 Cost Schedule R, Part I There is a $2 million line of credit guaranteed by MoMA. Schedule R, Part V, Line 1r The Museum is under an agreement with the Internal Council of the Museum of Modern Art and MoMA PS1 Contemporary Art Center to invest and manage the Council's and PS1's endowment funds. The amounts transferred for investment and spending from these endowments are reflected in Part V.