2021-01-14T15:44:33-06:00 2020-06-30 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1100 MINNEAPOLIS MN 554022526 990 2019-07-01 410693929 WALKER ART CENTER WALK 6123757647 725 VINELAND PLACE MINNEAPOLIS MN 55403 MARY POLTA CFO 6123757647 2020-12-14 1 KACIE MCEWEN P01599614 6123324300 2020-12-14 2019 2022-09-23 18:48:47Z MARY CERUTI 725 VINELAND PLACE MINNEAPOLIS MN 55403 21941393 0 X WWW.WALKERART.ORG X 1946 MN THE WALKER IS A CATALYST FOR THE CREATIVE EXPRESSION OF ARTISTS AND THE ENGAGEMENT OF AUDIENCES. 46 46 176 135 -251620 0 11275219 10176309 3138240 1709087 3090498 -2276590 236227 -228443 17740184 9380363 0 0 0 0 9076469 9762873 0 0 1294097 16196362 12966993 25272831 22729866 -7532647 -13349503 315379486 308117431 7192103 6733824 308187383 301383607 WALKER ART CENTER IS A CATALYST FOR THE CREATIVE EXPRESSION OF ARTISTS AND THE ACTIVE ENGAGEMENT OF AUDIENCES THAT EXAMINES THE QUESTIONS THAT SHAPE AND INSPIRE US AS INDIVIDUALS, CULTURES AND COMMUNITIES. 0 0 11669608 1444894 EXHIBITIONS OF PAINTINGS, SCULPTURE, PRINTS, PHOTOGRAPHY AND DIGITAL MEDIA WITH AN EMPHASIS ON CONTEMPORARY ART. MOVING IMAGE PROGRAM INCLUDING FILM SCREENINGS. EDUCATION PROGRAMS AND TOURS FOR ADULTS, TEENS, CHILDREN, SCHOOL AND FAMILY PROGRAMS 2245366 227356 PERFORMING ARTS: PRESENTATION OF VARIOUS PERFORMANCES INCLUDING DANCE, MUSIC, AND THEATER. 1933943 0 ART ACQUISITIONS: ADDITION OF ART WORKS TO THE PERMANENT COLLECTION FOR PUBLIC VIEWING. 15848917 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 287 0 1 176 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 46 46 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X MARY POLTA 6123757647 725 VINELAND PLACE MINNEAPOLIS MN 55403 MARY CERUTI EXECUTIVE DIRECTOR 35.00 X 396733 0 27210 CHRISTOPHER STEVENS CHIEF OF ADVANCEMENT 35.00 X 230060 0 26180 OLGA VISO FORMER OFFICER 0.00 X 246971 0 3625 MARY POLTA CHIEF FINANCIAL OFFICER 35.00 X 203037 0 19519 PHILIP BITHER SR CURATOR PERFORMING ARTS 35.00 X 197403 0 20016 RICHELE DONAT DIRECTOR, HUMAN RESOURCES 35.00 X 141986 0 15202 NISA MACKIE DIRECTOR, EDUCATION 35.00 X 131670 0 14147 SIRI ENGBERG SR CURATOR, EXHIBITIONS 35.00 X 123745 0 18453 SHERYL MOUSELY SR CURATOR, MOVING IMAGE 35.00 X 116327 0 13828 JOHN CHRISTAKOS PRESIDENT 1.00 X X 0 0 0 PATRICK PEYTON VICE-PRESIDENT 1.00 X X 0 0 0 JAN BREYER VICE-PRESIDENT 1.00 X X 0 0 0 TERESA RASMUSSEN SECRETARY 1.00 X X 0 0 0 JOHN WHALEY TREASURER 1.00 X X 0 0 0 MARK ADDICKS PUBLIC TRUSTEE 1.00 X 0 0 0 SIMONE AHUJA PUBLIC TRUSTEE 1.00 X 0 0 0 PAT DENZER PUBLIC TRUSTEE 1.00 X 0 0 0 ANDREW DUFF PUBLIC TRUSTEE 1.00 X 0 0 0 DAYNA FRANK PUBLIC TRUSTEE 1.00 X 0 0 0 MARK GREENE PUBLIC TRUSTEE 1.00 X 0 0 0 SIMA GRIFFITH PUBLIC TRUSTEE 1.00 X 0 0 0 DANIEL GROSSMAN PUBLIC TRUSTEE 1.00 X 0 0 0 NINA HALE PUBLIC TRUSTEE 1.00 X 0 0 0 LILI HALL PUBLIC TRUSTEE 1.00 X 0 0 0 KAREN HEITHOFF PUBLIC TRUSTEE 1.00 X 0 0 0 SEENA HODGES PUBLIC TRUSTEE 1.00 X 0 0 0 ANDREW HUMPHREY PUBLIC TRUSTEE 1.00 X 0 0 0 MARK JORDAHL PUBLIC TRUSTEE 1.00 X 0 0 0 CHRIS KILLINGSTAD PUBLIC TRUSTEE 1.00 X 0 0 0 ANNE LABOVITZ PUBLIC TRUSTEE 1.00 X 0 0 0 VALERIE LEMAINE MD MPH PUBLIC TRUSTEE 1.00 X 0 0 0 JOHN LIDDICOAT PUBLIC TRUSTEE 1.00 X 0 0 0 MARTHA MACMILLAN PUBLIC TRUSTEE 1.00 X 0 0 0 JENNIFER MARTIN PUBLIC TRUSTEE 1.00 X 0 0 0 DAVID MOORE PUBLIC TRUSTEE 1.00 X 0 0 0 JIM MURPHY PUBLIC TRUSTEE 1.00 X 0 0 0 MONICA NASSIF PUBLIC TRUSTEE 1.00 X 0 0 0 JOAN NOLAN PUBLIC TRUSTEE 1.00 X 0 0 0 SARAH LYNN OQUIST PUBLIC TRUSTEE 1.00 X 0 0 0 MICHAEL PETERMAN PUBLIC TRUSTEE 1.00 X 0 0 0 BRIAN PIETSCH PUBLIC TRUSTEE 1.00 X 0 0 0 DONNA POHLAD PUBLIC TRUSTEE 1.00 X 0 0 0 PETER REMES PUBLIC TRUSTEE 1.00 X 0 0 0 JOEL RONNING PUBLIC TRUSTEE 1.00 X 0 0 0 AMIT SAHASRABUDHE PUBLIC TRUSTEE 1.00 X 0 0 0 DR GAYLE SCHUELLER PUBLIC TRUSTEE 1.00 X 0 0 0 GREGORY STENMOE PUBLIC TRUSTEE 1.00 X 0 0 0 WIM STOCKS PUBLIC TRUSTEE 1.00 X 0 0 0 LAURA TAFT PUBLIC TRUSTEE 1.00 X 0 0 0 SUSAN WHITE PUBLIC TRUSTEE 1.00 X 0 0 0 ELLEN WILSON PUBLIC TRUSTEE 1.00 X 0 0 0 JULIE GUGGEMOS PUBLIC TRUSTEE 1.00 X 0 0 0 RD ZIMMERMAN PUBLIC TRUSTEE 1.00 X 0 0 0 ANN CADWALADER WALKER FAMILY TRUSTEE 1.00 X 0 0 0 ANN HATCH WALKER FAMILY TRUSTEE 1.00 X 0 0 0 JEAN LOWELL WALKER FAMILY TRUSTEE 1.00 X 0 0 0 ADRIAN WALKER WALKER FAMILY TRUSTEE 1.00 X 0 0 0 1787932 0 158180 13 1 1 0 COMMON SENSE BUILDING SERVICES 1300 GODWARD ST NE MINNEAPOLIS MN 55413 CONTRACTED SERVICES 1263018 MATTHEWS MARKS GALLERY 523 WEST 24TH STREET NEW YORK NY 10011 SCULPTURE FABRICATION 723900 MINNESOTA CLEANING SERVICES 11301 W 47TH STREET MINNETONKA MN 55343 CLEANING SERVICES 340292 CULINAIRE 8303 ELMBROOK DRIVE DALLAS TX 75247 CATERING 320705 CLEAR CHANNEL OUTDOOR 3700 E RANDOL MILL ROAD ARLINGTON TX 76011 MARKETING 173080 12 381822 1191482 2466348 6136657 1224668 10176309 EXHIBTIONS, MOVING IMAGE, EDUCATI 712110 926507 926507 MUSEUM ADMISSIONS 712110 316746 316746 OTHER INCOME 712110 238478 238478 PERFORMING ARTS 711310 227356 227356 1709087 2173613 2173613 3195 3195 956559 741924 214635 214635 21856 -251620 444399 6189790 10639993 -4450203 -4450203 -4450203 146128 1191482 567440 -421312 -421312 516712 611673 -94961 -58693 -36268 RESTAURANT EQUIPMENT AMORTIZATION 722310 70000 70000 70000 9380363 1672250 -251620 -2216576 X 1055341 313494 480660 261187 7336891 4973856 1800678 562357 396555 238099 112046 46410 514603 308976 145401 60226 459483 275882 129826 53775 28696 28696 93115 93115 37340 37340 946087 224493 721594 2918223 2462337 438882 17004 658443 601041 1732 55670 747706 528259 176317 43130 302425 217746 84679 1264 1264 478012 348261 123390 6361 435215 369169 39552 26494 26656 18275 4148 4233 3336934 2402593 934341 226798 190727 36047 24 ART ACQUISITIONS 1781723 1781723 PACKING, SHIPPING, MAIL 365458 351939 3415 10104 MAINTENANCE AND REPAIR 77899 77899 SERVICE CHARGES 70936 27985 17540 25411 434063 212798 99554 121711 22729866 15848917 5586852 1294097 1161291 1097824 9881173 12456158 4653194 3879498 634618 210623 344393 331733 311860 305592 124609242 53692116 74349552 70917126 224043405 218918877 315379486 308117431 2087565 1760084 595447 641253 0 252500 4509091 4079987 7192103 6733824 X 106775477 103445157 201411906 197938450 308187383 301383607 315379486 308117431 -13349503 6545727 0 X 0 1 X 1 0 X 17138539 22307528 17988405 11275219 10176309 78886000 17138539 22307528 17988405 11275219 10176309 78886000 14121828 64764172 1101347 1193749 1654020 2328715 2823782 9101613 1153946 818222 194861 190396 70000 2427425 90415038 19486102 0.71630 0.68450 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OPERATIONS AND SUPPLIES - 2015 AMOUNT: $ 988. 2016 AMOUNT: $ 19,195. 2017 AMOUNT: $ 3,061. 2018 AMOUNT: $ 5,113. TICKET SERVICE CHARGE - 2015 AMOUNT: $ 118,525. 2016 AMOUNT: $ 64,587. 2017 AMOUNT: $ 120,864. 2018 AMOUNT: $ 115,283. RESTAURANT EQUIP AMORTIZATION - 2015 AMOUNT: $ 22,177. 2016 AMOUNT: $ 70,000. 2017 AMOUNT: $ 70,000. 2018 AMOUNT: $ 70,000. 2019 AMOUNT: $ 70,000. INSURANCE CLAIM PROCESS - 2015 AMOUNT: $ 1,012,256. SALE OF ART - 2016 AMOUNT: $ 664,440. 2017 AMOUNT: $ 936. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37090 250 37340 22692526 22729866 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 43173 38526 38758 37340 157797 250000 250000 250000 250000 1000000 1500000 38027 37552 38758 37090 151427 X X X X 1 232793043 387396 3196436 7212451 229164424 200571562 23940871 17679856 9399246 232793043 191769091 3573325 14475331 9246185 200571562 189327719 9428517 13854735 20841880 191769091 199719391 6435895 1872205 18699772 189327719 0.16000 0.84000 0.00000 1 0 13760159 13760159 100193864 48738027 51455837 8080802 4179725 3901077 2574417 774364 1800053 70917126 INVESTMENTS HELD BY OTHERS 218918877 F 218918877 SPECIAL ASSESSMENT LIABILITY 2985425 ASSET RETIREMENT OBLIGATION 727503 R 47059 DEFERRED CHARGE 320000 4079987 X 16901040 6545727 -946087 5599640 11301400 -1921037 -1921037 9380363 23704816 1921037 1921037 21783779 946087 946087 22729866 PART III, LINE 1A: WORKS OF ART IN THE WALKER'S COLLECTION ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF ARTWORK ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. IF A DONOR MAKES A CONTRIBUTION INTENDED TO FUND THE SUBSEQUENT PURCHASE OF ARTWORK, THE CONTRIBUTION IS RECORDED AS A DONOR RESTRICTED NET ASSET. CONTRIBUTIONS OF WORKS OF ART ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PART III, LINE 4: THE WALKER HAS AN INTERNATIONALLY ACCLAIMED COLLECTION OF MODERN AND CONTEMPORARY VISUAL ART, WHICH GROWS EACH YEAR THROUGH NEW ACQUISITIONS AND NOW INCLUDES MORE THAN 11,000 WORKS. THE COLLECTION SPANS A DIVERSE RANGE OF MEDIA THAT INCLUDES PAINTING, SCULPTURE, FILM, VIDEO, PHOTOGRAPHY AND WORKS ON PAPER. THESE DIVERSE HOLDINGS REFLECT THE WALKER'S UNIQUE MULTIDISCIPLINARY OFFERINGS IN THE VISUAL, PERFORMING AND MEDIA ARTS OF OUR TIME. THEY PROVIDE A DOCUMENT OF THE CULTURAL, HISTORICAL AND SOCIAL ISSUES THAT HAVE ANIMATED THE ARTS OF THE PAST HALF-CENTURY. PART V, LINE 4: WALKER'S ENDOWMENT PROVIDES AN ESSENTIAL SOURCE OF FINANCIAL SUPPORT WHICH ENABLES THE ORGANIZATION TO CARRY OUT ITS MISSION OF BEING A CATALYST FOR THE CREATIVE EXPRESSION OF ARTISTS AND THE ACTIVE ENGAGEMENT OF AUDIENCES THAT EXAMINES THE QUESTIONS THAT SHAPE AND INSPIRE US AS INDIVIDUALS, CULTURES AND COMMUNITIES. IT IS THE KEY FINANCIAL DRIVER FOR THE WALKER'S ARTISTIC EXCELLENCE AND STATURE IN THE CONTEMPORARY ARTS FIELD, PROVIDING RESOURCES FOR PROGRAMMING CHALLENGING AND INNOVATIVE WORK. PART X, LINE 2: THE WALKER'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE OR BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. THE WALKER HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OF TAX EXPENSE OR BENEFIT. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES RECLASSED TO FUNCTIONAL EXPENSE -946,087. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE RECLASSED AS REVENUE -741,924. FUNDRASING EXPENSE RECLASSED AS REVENUE -567,440. COGS RECLASSED AS REVENUE -611,673. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE RECLASSED AS REVENUE 741,924. FUNDRASING EXPENSE RECLASSED AS REVENUE 567,440. COGS RECLASSED AS REVENUE 611,673. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES RECLASSED TO FUNCTIONAL EXPENSE 946,087. EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STAFF TRAVEL 1309 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICE STAFF TRAVEL AND CATALOG PRINTING 78366 NORTH AMERICA 0 0 PROGRAM SERVICES STAFF TRAVEL 2060 SOUTH AMERICA 0 0 PROGRAM SERVICES STAFF TRAVEL 402 0 0 0 0 0 0 82137 0 82137 0 0 0 0 0 0 PART III ACCOUNTING METHOD: GALA DINNER 555824 411696 144128 240306 94867 49016 133580 GALA AUCTION 781786 779786 2000 49671 1337610 1191482 146128 240306 94867 49016 183251 567440 -421312 PART II - FUNDRAISING EVENTS THE WALKER FALL 2019 FUNDRAISING EVENT GENERATED TOTAL INCOME OF $1,657,610 FROM INDIVIDUAL AND CORPORATE SPONSORSHIPS, TICKET SALES AND AUCTION PROCEEDS AND HAD DIRECT EXPENSES OF $567,440 NETTING THE INSTITUTION $1,090,170. DONATED ITEMS TO THE AUCTION INCLUDED 23 WORK OF ART. THESE 23 ARTWORKS WERE DONATED BY ARTISTS AND GALLERIES AND APPRAISED BY AN INDEPENDENT ART APPRAISER. X 1 1 X X X 1 0 0 0 0 0 0 0 0 MARY CERUTI EXECUTIVE DIRECTOR 352662 0 16041 0 28030 0 19600 0 7610 0 423943 0 0 0 CHRISTOPHER STEVENS CHIEF OF ADVANCEMENT 229727 0 0 0 333 0 17044 0 9136 0 256240 0 0 0 OLGA VISO FORMER OFFICER 0 0 0 0 246971 0 0 0 3625 0 250596 0 0 0 MARY POLTA CHIEF FINANCIAL OFFICER 202756 0 0 0 281 0 14246 0 5273 0 222556 0 0 0 PHILIP BITHER SR CURATOR PERFORMING ARTS 197137 0 0 0 266 0 14113 0 5903 0 217419 0 0 0 RICHELE DONAT DIRECTOR, HUMAN RESOURCES 141769 0 0 0 217 0 10035 0 5167 0 157188 0 0 0 PART I, LINE 1A MARY CERUTI, EXECUTIVE DIRECTOR, RECEIVED REIMBURSEMENT FOR RELOCATION MOVING EXPENSES. THE AMOUNT PAID, INCLUDING TAX INDEMNIFICATION WAS $27,730, AND WAS PAID IN CALENDAR 2019. PART I, LINE 4A FORMER EXECUTIVE DIRECTOR, OLGA VISO, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $246,971 DURING 2019. X 149 875000 INDEPENT ART APPRAISAL X 20 292168 PROCEEDS X VACATION RENTAL 2 56000 AUCTION PROCEEDS X CATERED DINNER 1 1000 AUCTION PROCEEDS X STUDIO TOUR 2 400 AUCTION PROCEEDS X TOUR AND WHISKEY TASTING 1 100 AUCTION PROCEEDS 0 0 0 0 PART I, COLUMN (B): ARTWORK DONATED THE WALKER ART CENTER HAS ELECTED UNDER SFAS 116 NEITHER TO RECOGNIZE REVENUE IN ITS STATEMENT OF OPERATIONS, NOR ASSETS ON ITS STATEMENT OF POSITION, WHEN DONATIONS OF ARTWORK IS RECEIVED. THEREFORE, NO REVENUE IS RECOGNIZED ON PART VIII, LINE 1 FOR THESE DONATIONS. THE NUMBER OF ITEMS DONATED IS BEING REPORTED. FORM 990, PART VI, SECTION A, LINE 2 A MAXIMUM OF 20 WALKER FAMILY MEMBERS MAY BE APPOINTED. IN 2019-20 THERE WERE FOUR FAMILY MEMBERS APPOINTED, AS INDICATED IN PART VII. FORM 990, PART VI, SECTION B, LINE 11B PREPARATION OF THE 990 BEGINS AFTER THE COMPLETION OF THE ANNUAL AUDIT AND ITS APPROVAL BY THE BOARD OF DIRECTORS. FINANCIAL INFORMATION IS TAKEN FROM THE ACCOUNTING DEPARTMENT RECORDS AND COMBINED WITH OTHER INSTITUTIONAL DATA AND CONTRIBUTION INFORMATION PROVIDED BY THE DEVELOPMENT DEPARTMENT. ALL INFORMATION IS FORWARDED TO THE OUTSIDE ACCOUNTING FIRM WHO PREPARERS FORM 990 FOR PRELIMINARY REVIEW BY WALKER STAFF AND BOARD. FORM 990 IS EDITED AND FORWARDED TO THE CPA FOR FINALIZATION TO FILE WITH THE APPROPRIATE FEDERAL AND STATE ENTITIES. FORM 990, PART VI, SECTION B, LINE 12C THE AUDIT COMMITTEE ANNUALLY REVIEWS ALL STAFF AND BOARD DISCLOSURES. IF THERE ARE SIGNIFICANT CONFLICTS, THE COMMITTEE REPORTS THIS TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 15 SALARIES ARE BASED ON ANNUAL PERFORMANCE EVALUATIONS AND RELEVANT COMPARATIVE DATA COMPILED BY INDEPENDENT STUDIES. THE BOARD TALENT COMPENSATION COMMITTEE AUTHORIZES THE SALARY FOR THE EXECUTIVE DIRECTOR AND REVIEWS EXECUTIVE RECOMMENDATIONS FOR KEY SENIOR STAFF SALARIES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FOR IN SECTION 6104(D). FORM 990, PART IX, LINE 11G OTHER-MISCELLANEOUS: PROGRAM SERVICE EXPENSES 2,462,337. MANAGEMENT AND GENERAL EXPENSES 438,882. FUNDRAISING EXPENSES 17,004. TOTAL EXPENSES 2,918,223.