2020-11-16T11:06:49-08:00 2020-06-30 208087076 Foti Flynn Lowen & Co PC PO Box 12765 Roanoke VA 240282765 990 2019-07-01 546026841 TAUBMAN MUSEUM OF ART TAUB 5403425760 110 SALEM AVE SE ROANOKE VA 24011 CINDY PETERSEN Executive Director 2020-11-16 true FRANK B HANCOCK CPA P00005271 5403449246 2019 2022-09-23 18:48:47Z CINDY PETERSEN 14780279 false X TAUBMANMUSEUM.ORG X 1951 VA THE TAUBMAN MUSUEM OF ART'S MISSION IS TO BRING PEOPLE AND ART TOGETHER FOR DISCOVERY, LEARNING AND ENJOYMENT. SERVING THE DIVERSE COMMUNITIES OF OUR REGION, THE TAUBMAN MUSEUM OF ART ENGAGES ALL AUDIENCES THROUGH THE CELEBRATION AND ENJOYMENT OF THE CREATIVE PROCESS. IT IS COMMITTED TO EXCELLENCE IN ITS COLLECTION, SCHOLARSHIP, EDUCATION AND CREATIVE ACTIVITIES. OUR EMPHASIS IS ON AMERICAN ART AND REGIONAL CULTURE. THE INSTITUTE OF ART SPECIALIZES IN THE EXHIBITION, EDUCATION AND SCHOLARSHIP OF 19TH AND 20TH CENTURY AMERICAN ART. 19 19 36 72 0 2129804 12298648 437541 555119 267919 429878 171307 147329 3006571 13430974 0 0 1366877 1660498 0 713380 2859464 2886237 4226341 4546735 -1219770 8884239 59362484 69106113 101575 460097 59260909 68646016 THE TAUBMAN MUSUEM OF ART'S MISSION IS TO BRING PEOPLE AND ART TOGETHER FOR DISCOVERY, LEARNING AND ENJOYMENT. SERVING THE DIVERSE COMMUNITIES OF OUR REGION, THE TAUBMAN MUSEUM OF ART ENGAGES ALL AUDIENCES THROUGH THE CELEBRATION AND ENJOYMENT OF THE CREATIVE PROCESS. IT IS COMMITTED TO EXCELLENCE IN ITS COLLECTION, SCHOLARSHIP, EDUCATION AND CREATIVE ACTIVITIES. OUR EMPHASIS IS ON AMERICAN ART AND REGIONAL CULTURE. THE INSTITUTE OF ART SPECIALIZES IN THE EXHIBITION, EDUCATION AND SCHOLARSHIP OF 19TH AND 20TH CENTURY AMERICAN ART. false false 2976548 555119 THE MUSEUM CONDUCTS AND SPONSORS ART CLASSES, LECTURES, SHOWS AND EXHIBITS, THEATRICAL AND MUSICAL PROGRAMS, FILM PRESENTATIONS AND WORKSHOPS TO STIMULATE ART APPRECIATION IN THE ROANOKE VALLEY AREA. 2976548 true true false false false false false true false true true false false false false true true false false false false false false false true false false false false true false false false false false false false false true true false false false false false false false true 34 0 true 36 true false false false false false true true false 0 false false false false false false false X 19 19 true false false false false false false true true false false true true true true true true true false false X X X CINDY PETERSEN 5402044113 110 SALEM AVE SE ROANOKE VA 24011 X CINDY PETERSEN EXECUTIVE DIRECTOR 50.00 0.00 175504 0 7068 MR NICHOLAS F TAUBMAN CHAIR. EMERTIUS 2.00 0.00 X 0 0 0 MR W HEYWOOD FRALIN VICE CHAIRMAN 2.00 0.00 X X 0 0 0 MR DAVID WINE Treasurer 2.00 0.00 X X 0 0 0 MR WILLIAM J LEMON Secretary 2.00 0.00 X X 0 0 0 MS JACQUELINE ARCHER Trustee 2.00 0.00 X 0 0 0 MS TAMMY FINLEY Trustee 2.00 0.00 X 0 0 0 MR KENT S GREENAWALT Trustee 2.00 0.00 X 0 0 0 MR LEON P HARRIS Chairman 2.00 0.00 X X 0 0 0 MS DEBBIE MEADE Trustee 2.00 0.00 X 0 0 0 DR EVELYN GARCIA Trustee 2.00 0.00 X 0 0 0 MRS JENNY TAUBMAN Trustee 2.00 0.00 X 0 0 0 MR NICHOLAS CONTE Trustee 2.00 0.00 X 0 0 0 MS JEAN HOPSTETTER Trustee 2.00 0.00 X 0 0 0 MR MITCHELL KANEFF Trustee 2.00 0.00 X 0 0 0 MS JOANNE CASSULLO Trustee 2.00 0.00 X 0 0 0 MS MARY DYKSTRA HAGMAIER Trustee 2.00 0.00 X 0 0 0 MS MEG CARTER Trustee 2.00 0.00 X 0 0 0 MR JOHN FISHWICK JR Trustee 2.00 0.00 X 0 0 0 MR MAURY L STRAUSS Trustee 2.00 0.00 X 0 0 0 175504 7068 1 false true false SECURITAS SECURITY SERVICES USA INC PO BOX 403412 ATLANTA GA 303843412 SECURITY 134736 1 160124 59691 104900 11973933 27581 12298648 EDUCATION PROGRAM FEES 35042 35042 INNOVATIVE PROGRAMS 86085 86085 OTHER 289641 289641 Space Rentals 107928 107928 SPECIAL EXHIBITION 36423 36423 555119 515410 515410 0 0 0 1172068 1257600 -85532 -85532 -85532 230606 59691 88030 142576 142576 0 8428 3675 4753 4753 0 13430974 469587 662739 0 0 0 0 182572 36514 73029 73029 0 1210798 734865 247208 228725 37929 20884 8716 8329 128724 70875 29581 28268 100475 55312 23088 22075 0 0 25235 25235 0 0 118259 118259 10262 9235 924 103 53111 48047 5064 53953 1892 51886 175 77370 17021 10058 50291 0 278593 187796 38994 51803 11983 5432 6445 106 0 0 0 0 1453644 1075697 174437 203510 92424 65395 27029 REPAIRS & MAINTENANCE 245772 245146 113 513 EXHIBITION COSTS 189110 189110 SECURITY SERVICES 134736 125284 9452 Printing and Publications 51129 37088 2810 11231 90656 50955 18995 20706 4546735 2976548 856807 713380 689531 595324 871033 6889705 192245 239689 49042 0 0 0 10242 28291 12000 60333235 19056635 42528728 41276600 14721909 17703876 330747 2329635 0 0 0 59362484 69106113 101575 146003 50194 263900 101575 460097 X 43982734 42674481 15278175 25971535 59260909 68646016 59362484 69106113 8884239 500868 X false true X true false X 5649267 6454149 5143764 2129804 12298648 31675632 0 0 5649267 6454149 5143764 2129804 12298648 31675632 22883820 8791812 82408 135090 272840 338762 515410 1344510 0 0 33020142 1825732 0.26630 0.33780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X false 15808389 11308387 812487 1107488 26821775 14839715 110030 964374 105730 15808389 11157380 3265660 776067 359392 14839715 6233920 4788710 680759 546009 11157380 3132048 3520822 135720 554670 6233920 0.02000 0.95000 0.03000 false false false 1353898 1353898 55644516 16128704 39515812 1051205 870615 180590 2283616 2057316 226300 41276600 MARKET INDEX TARFET TERM 1966000 F PRIVATE EQUITY FUNDS 343610 F X 13916988 500868 11700 -26554 486014 13430974 13430974 4531881 11700 -26554 -14854 4546735 4546735 Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o The Museums art collections as of June 30, 2020 and 2019 consist of 2,240 and 2,227 objects, respectively. These range from a growing number of works by internationally renowned American artists to works reflecting the history and aesthetic tastes of the region. The collection is inventoried annually, and is protected round-the-clock by various alarm systems and gallery security staff. The Museum does not capitalize its art collection. The cost of all art objects purchased is reported separately as a decrease in net assets without donor restrictions. For the year ended June 30, 2020, purchases of art objects amounted to $-0-. Part III, Line 4: Description of organization's collections and how it furthers its purpose. See explanation for PART III LINE IA above Part V, Line 4: Intended uses of the endowment fund. The Museum's endowment consists of six individual funds established for a variety of purposes. Its endowments include both donor-restricted endowment funds and funds designated by the Museum to function as endowments. As required by generally accepted accounting principles, net assets associated with endowment funds, including funds designated by the Museum to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The following is a description of each endowment fund. General Operating Endowment - The general operating endowment was established by the Museum's Board of Trustees to provide a modest cash reserve for administration operations and emergencies. Earnings are used for unrestricted purposes as needed.Thomas Endowment - The Peggy MacDowell Thomas endowment was established in 2008 and is for the establishment and maintenance of the Peggy MacDowell Thomas Gallery. Earnings to the extent not needed for the gallery are used for unrestricted operating purposes. Maintenance Endowment - The Maintenance Endowment was established in 2013. The fund is to provide a permanent income stream and source of funds for the Museum to supplement operating funds as necessary to assure proper and required maintenance of the facilities. The Museum can take distributions of earnings as needed. To extent earnings are insufficient, principal may be withdrawn; however, the Museum must return the principal to the endowment. Kagey Endowment - In 2011, the Mickie Kagey Watercolor award was established for the purpose of giving an annual $1,000 award at the Sidewalk Art Show program run by the Museum once the fund is generating enough income. Any unexpended annual earnings are added to the endowment principal. Taubman Museum of Art Endowment - The Taubman Museum of Art Endowment was established in 2015 to provide for the permanent maintenance of the Museum as a charitable public fine arts museum. The initial contribution included $200,000 restricted for fundraising efforts. The goal of the fund is to reach $20 million in contributions, at which point the Museum may distribute interest, dividends and market appreciation, up to 5% per year of the five-year rolling average of the market value of the corpus of the fund. Normal distributions are to be used for the purpose of supplementing the general operating revenues to assure the continuation of the Museums business and functions so as to protect and preserve the Museum as an operating art museum. Strauss Endowment - The Sheila and Maury Lee Strauss Art Venture Endowment was established in 2015. The earnings are to be used for sustaining care and operation of Art Venture and associated educational programming. Part X : FIN48 Footnote The Museum is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and is not classified as a private foundation. The Museum believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. There can be no assurance that the Museum's tax returns will not be challenged by the taxing authorities and that the Museum will not be subject to additional taxes, penalties and interest as a result of such a challenge. Should any such penalties and interest be incurred, the Museum's policy would be to recognize them as management and general expenses. With limited exceptions, the Museum is no longer subject to income tax examinations for any years earlier than 2016 for federal purposes. X X X X X X X false WOMEN'S LUNCHEON 141206 4000 137206 237 12488 10729 WINE FESTIVAL 60741 28100 32641 8579 12381 4 84404 27591 56813 1642 14337 22908 286351 59691 226660 1642 237 35404 46018 83301 143359 false false false false false false false false false CINDY PETERSEN EXECUTIVE DIRECTOR 175504 7068 182572 X 113 X 6 27581 MARKET PRICES false false false Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et NICHOLAS AND JENNY TAUBMAN ARE MARRIED Form 990, Part VI, Line 11b: Form 990 Review Process REVIEWED BY AUDIT COMMITTEE WHICH RECOMMENDS APPROVAL OR DISAPPROVAL TO THE FULL BOARD OF TRUSTEES. THE BOARD REVIEWS THE 990, AND THE EXECUTIVE DIRECTOR DIRECTS TRUSTEES TO REVIEW THE QUESTIONS IN PARTICULAR TO ENSURE ALL BOARD MEMBERS ARE AWARE OF THE ANSWERS BEING PROVIDED. THE EXECUTIVE DIRECTOR SIGNS THE APPROVED DOCUMENT AFTER THIS REVIEW. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts ORAL INTERVIEWS Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The American Alliance of Museums (AAM) produces an annual salary study of all types of museums across the country by size, region and size of budget. The Taubman Museum of Art uses this study to set salary levels and ranges for all employees. The Board reviewed the AAM study to determine the appropriate rates of compensation for the Executive Director and decided on a level that met AAM standards. Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection The 990 is made available on the Museum's website. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The organization will provide financial statements upon written request to the executive director.