2020-07-13T14:27:47-05:00 2019-06-30 135565207 KPMG LLP 8350 Broad Street Suite 900 MCLEAN VA 22102 990 2018-07-01 231365388 Philadelphia Museum of Art PHIL 2157638100 PO Box 7646 Philadelphia PA 191017646 Deborah Johnston CFO 2156847801 2020-07-13 1 JG White P01498698 7032868000 65.154.134.2 2020-07-13 15:10:17 ED P C0D54A9D0FC63CDA5E2ED1CE705AF132DB86A493 C0D54A9D0FC63CDA5E2ED1CE705AF132DB86A493 2018 2021-01-29 14:40:06Z Timothy Rub PO Box 7646 Philadelphia PA 191017646 186410366 0 X www.philamuseum.org X 1876 PA To preserve, enhance, interpret, and extend the reach of its collections to a diverse audience. 63 61 655 293 489084 0 51460486 74870679 7599122 7560874 12343063 26793384 2417768 2568707 73820439 111793644 0 0 0 0 32207958 34599126 148552 174168 6079029 40302528 36767219 72659038 71540513 1161401 40253131 1009323665 1089326303 94517656 140085735 914806009 949240568 X To preserve, enhance, interpret, and extend the reach of its collections to a diverse audience.See Schedule O for more details.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 35787114 138101 Curatorial activities, including collection care and the acquisition of various art objects.The museum has an encyclopedic collection of approximately 244,000 works of art in 8 curatorial departments, including some of the greatest works of American, Asian, and European art anywhere. During 2019 the museum acquired 24 works from the Souls Grown Deep Foundations, including large-scale sculptures and reliefs by Thornton Dial, assemblages by Lonnie Holley, Ronald Lockett, Hawkins Bolden, and Bessie Harvey, and a selection of multi-colored quilts made by several generations of women from Gee's Bend Alabama.Andrew W. Mellon Undergraduate Curatorial Fellowship Program provides specialized training in the curatorial field for students across the United States from diverse backgrounds. 12 students were admitted into the program. The museum partnered with six additional world-class, encyclopedia collection museums. One of the museum's primary obligations is the preservation of the collections, the works are examined, treated and preserved year-round. 9692878 266846 Education, library and community programs for children, disabled, and general public to provide a better understanding of Museum's collection and art in general.The museum provides education programming around the collections with performances, gallery tours, lectures, and other special events. The museum held several significant exhibitions during the year, the following highlights a few: * - Fabulous Fashion: From Dior's New Look to Now: 173,505 attended.* - Little Ladies: Victorian Fashion Dolls and the Feminine Ideal: 82,778 attended* - Impressionist's Eye - a rare opportunity to see a broad range of the Impressionist sculpture, painting and works on paper shown together - 115,932 visits.* - Horace Pippin: from War to Peace. A installation celebrating an African American artist who overcame a war injury to earn national acclaim for his painting. * - Souls Grown Deep: Artists of the African American South: Exhibitions a celebration of the recent acquisition. * - Impressionist Eye, over 90 works of post-impressionist, some not on view for a decade or longer: 115,932 attendedTraveling exhibitions: The Essential Duchamp was a comprehensive exhibition of Marcel Duchamp toured Japan, Korea and Australia.The museum has several art education programs dedicated to children, one of the most notable programs is Art Splash, a nine-week summer family program, in fiscal year 2019 families made art with professional artists inspired by the exhibitions Souls Grown Deep: Artists of the African American South and the Art of Collage and Assemblage. They also experienced dishes prepared by a chef-in-residence and joined an intergenerational community conversation centered on talking with kids about social justice, approximately 40,000 people participated. In addition, there are Teacher Programs that provide resources and training opportunities, benefiting thousands of teachers. Also, 100% of visiting School District of Philadelphia students received free admission, over 20K student visits. Overall the education program benefited over 240,000 people. 9500477 8163313 Auxiliary activities and public relations.During fiscal year 2019 the museum welcomed 774,000 visits from visitors from all 50 states, the District of Columbia, Puerto Rico, Guam, U.S. Virgin Islands, Marshal Islands, America Samoa as well as from 131 foreign countries on six continents. The museum increases access to all visitors by providing pay what you wish every Wednesday evening, the first Sunday of each month, Martin Luther King Day, and this summer included dates around the July 4th holiday, approximately 140,000 visitors accessed the museum under this program.The museum membership program provides unlimited access to the museum during operating hours, as well as programing and events that enhance the member experience. There were over 40,000 active households in fiscal year 2019. 54980469 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 1 358 0 1 655 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 63 61 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 672395 0 51850 Gail M Harrity President and COO 35.00 X X 402111 0 31632 John R Alchin Trustee 1.00 X 0 0 0 Dennis Alter Trustee 1.00 X 0 0 0 Barbara Aronson 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 Priscilla S Brown Trustee- term ended 1.00 X 0 0 0 Dr Constance E Clayton Trustee 1.00 X 0 0 0 John G Drosdick Trustee- term ended 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 Mrs Jack M Friedland Trustee 1.00 X 0 0 0 David Haas Trustee 1.00 X 0 0 0 Lynne Honickman Trustee - term ended 1.00 X 0 0 0 Joan M Johnson Trustee 1.00 X 0 0 0 Berton E Korman Trustee 1.00 X 0 0 0 Ronald P Lassin Trustee - term ended 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 Mary Patterson McPherson Trustee - term ended 1.00 X 0 0 0 John J Medveckis Trustee 1.00 X 0 0 0 Martha Hamilton Morris Trustee 1.00 X 0 0 0 Raymond G Perelman Chair Emeriti - deceased 1.00 X X 0 0 0 Mark E Rubenstein 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 Bruce E Toll Trustee 1.00 X 0 0 0 Constance H Williams Chair Emeriti 1.00 X X 0 0 0 Dr John T Williams Trustee - term ended 1.00 X 0 0 0 Jerry Wind Trustee 1.00 X 0 0 0 Charles K Williams II Trustee 1.00 X 0 0 0 H Richard Dietrich III Trustee 1.00 X 0 0 0 Dr Donald B Parks Trustee 1.00 X 0 0 0 Lyn M Ross Trustee 1.00 X 0 0 0 Darell L Clark Trustee Ex Officio 1.00 X 0 0 0 Marsha W Rothman Trustee 1.00 X 0 0 0 Gretchen Burke Trustee 1.00 X 0 0 0 Angelica Zander Rudenstine Trustee 1.00 X 0 0 0 Joan F Thalheimer Trustee 1.00 X 0 0 0 Marta Adelson Trustee 1.00 X 0 0 0 Osagie O Imasogie Trustee 1.00 X 0 0 0 Leslie A Miller Chair 1.00 X X 0 0 0 Pia Roy Chowdhury Trustee 1.00 X 0 0 0 Sueyun Locks Trustee 1.00 X 0 0 0 Andrea M Baldeck MD Trustee 1.00 X 0 0 0 Anne F Hamilton Trustee 1.00 X 0 0 0 Bonnie F McCausland Trustee 1.00 X 0 0 0 Ajay Raju Trustee 1.00 X 0 0 0 Tom Wolf Trustee Ex Officio 1.00 X 0 0 0 Romulo L Diaz Jr Trustee 1.00 X 0 0 0 David D Langfitt Trustee 1.00 X 0 0 0 Ellen Caplan Trustee 1.00 X 0 0 0 Phoebe Haddon Trustee 1.00 X 0 0 0 Hilarie Morgan Trustee 1.00 X 0 0 0 Zoe C Pappas Vice Chair 1.00 X X 0 0 0 Jennifer Rice Trustee 1.00 X 0 0 0 James F Kenney Trustee Ex Officio 1.00 X 0 0 0 Mary N Leer Trustee Ex Officio-term ended 1.00 X 0 0 0 Anne Hilton Trustee Ex Officio 1.00 X 0 0 0 John J Soroko Trustee Ex Officio 1.00 X 0 0 0 Emily Cavanagh Trustee 1.00 X 0 0 0 Orlando Esposito Trustee 1.00 X 0 0 0 Amy A Fox Trustee 1.00 X 0 0 0 Mark B Goodheart Trustee Ex Officio 1.00 1.00 X 0 0 0 Sally Sharkey Trustee Ex Officio-term ended 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 Katherine Sachs Trustee 1.00 X 0 0 0 Julia Fleischner Trustee Ex Officio 1.00 X 0 0 0 Laura C Rothrock Trustee Ex Officio 1.00 X 0 0 0 Jeffrey Blair Secretary and General Coun 35.00 X 277235 0 30601 Deborah Johnston CFO 35.00 1.00 X 179691 0 9192 HF Gerry Lenfest Chair Emeriti - deceased 1.00 X 0 0 0 Alice Beamesderfer Deputy Director for Collec 35.00 X 177525 0 24028 Ali Shaikholislami Director of Engineering&Fa 35.00 X 194409 0 16678 Jonathan L Peterson Director of Development 35.00 X 286847 0 22363 David Blackman Deputy Dir Develop-through June 2019 35.00 X 235112 0 30078 William Weinstein Director of IIT 35.00 X 169481 0 24186 Carlos Basualdo Curator of Contemporary Ar 35.00 X 164482 0 9893 Luis Bravo Creative and Brand Engagem 35.00 X 147951 0 23962 Tracey Button Director of Marketing and Communications 35.00 X 175422 0 11799 Robert T Rambo Former CFO (term 3-30-2018) 35.00 1.00 X 102504 0 8803 3185165 0 295065 45 1 1 0 JPC GROUP INC 1309 HARMONY STREET Philadelphia PA 19146 Construction 7709806 LF Driscoll Co 9 Presidential Boulevard Bala Cynwyd PA 19004 Construction 7556051 Dougherty Electric 45 West Porter Street Philadelphia PA 19148 Construction 6292771 TRACEY MECHANICAL INC 8 CAMPUS BOULEVARD Newtown Square PA 19073 Construction 5715803 UNIVERSAL PROTECTION SERVICE LP 161 Washington Street Suite 600 Conshohocken PA 19428 Security 4092347 46 5070319 610216 18241972 50948172 5229490 74870679 Admissions 900099 5653093 5653093 Traveling exhibition 900099 822856 822856 Education programs 611710 266846 266846 Rental of space 900099 239939 239939 Publication distributi 900099 238413 238413 339727 339727 7560874 7772125 69816 7702309 47253 47253 91097318 72076059 19021259 19021259 19021259 557555 610216 910864 -353309 -353309 3056453 1629799 1426654 1007386 419268 Parking revenues 900099 997660 997660 Concession fees 900099 450449 450449 1448109 111793644 8568260 489084 27865621 X 2441498 988039 1137612 315847 25560930 20032526 2199788 3328616 974927 737306 123827 113794 3559847 2704863 412816 442168 2061924 1510052 298342 253530 125390 125390 98715 98715 103919 103919 174168 174168 2691580 2691580 7863946 6951865 641779 270302 1450392 1441512 6380 2500 2491444 1611641 700426 179377 958336 699602 154906 103828 10844 10844 2483742 2311754 128032 43956 642798 587140 34530 21128 73386 21483 42909 8994 1147530 1044198 76701 26631 9711125 8836662 649092 225371 1101895 371137 729904 854 Acquisitions 1700549 1700549 Special exhibitions 1220435 1220435 2891193 2198861 124367 567965 71540513 54980469 10481015 6079029 62879716 58629275 72832360 97343419 1020402 990907 927376 608304 1706694 1875447 541549667 110308412 369812959 431241255 141060463 124558045 346274010 361992177 12809685 12087474 1009323665 1089326303 23903727 29048346 1801589 2034969 66825138 107324204 1987202 1678216 94517656 140085735 X 405207631 417737156 179519803 212602525 330078575 318900887 914806009 949240568 1009323665 1089326303 X 40253131 -3934243 -1884329 X 0 1 X 1 0 X 48311592 90579026 64938967 51460486 74870679 330160750 3250000 3000000 3400000 3500000 3400000 16550000 51561592 93579026 68338967 54960486 78270679 346710750 13382738 333328012 5850581 5118974 4157230 5602264 7819378 28548427 1084756 1403710 1573977 1459850 2005664 7527957 382787134 51084998 0.87080 0.86790 X Schedule A, Part II, Line 10, Explanation of Other Income: Parking revenues - 2014 Amount: $ 710,696. 2015 Amount: $ 1,026,166. 2016 Amount: $ 1,060,611. 2017 Amount: $ 924,623. 2018 Amount: $ 997,660. Concession fees - 2014 Amount: $ 374,060. 2015 Amount: $ 377,544. 2016 Amount: $ 513,366. 2017 Amount: $ 535,227. 2018 Amount: $ 450,449. Gross receipts from fundraising special events - 2018 Amount: $ 557,555. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 117039 117039 71423474 71540513 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 111180 110028 113732 117039 451979 250000 250000 250000 250000 1000000 1500000 X X X X 0 487334473 4751964 18877351 27139297 483824491 466725791 6558162 40482695 26432175 487334473 437090620 6121677 48780666 25267172 466725791 454571342 22948547 -18431776 21997493 437090620 451468293 10890251 13315022 21102224 454571342 0.18170 0.63410 0.18420 1 0 2983347 2983347 331127117 98987017 232140100 18791013 11321395 7469618 188648190 188648190 431241255 Limited partnerships and other 1108166 F US stock funds 49915834 F Global stock funds 101351656 F Global(exUS)emerging mkts stock fds 25344940 F Hedge funds 94306966 F Private equity & venture capital fds 68404542 F Real asset funds 21560073 F 361992177 Obligations under split-interest agreements 1678216 1678216 X 109224155 -3934243 3400000 656334 122091 109102064 2691580 2691580 111793644 74789596 3400000 2540663 5940663 68848933 2691580 2691580 71540513 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 240,000 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 has been recognized by the Internal Revenue Service as exempt from federal income tax under Section 501(c)(3) of the U.S. Internal Revenue Code, except for taxes on income from activities unrelated to its exempt purpose. Accordingly, no provision for income taxes has been made in the accompanying financial statements. Accounting principles generally accepted in the United States require management to evaluate tax positions taken by the Museum and recognize a tax liability (or asset) if the museum has an uncertain tax position that more likely than not would not be sustained upon examination by the IRS. Management has concluded that as of June 30, 2019, there are no uncertain tax positions taken or expected to be taken by the Museum that would require recognition of a liability (or asset) or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Cost of goods sold 1,629,799. Change in FMV of interest rate exchange agreements -1,884,329. Fundraising event expenses 910,864. Part XII, Line 2d - Other Adjustments: Cost of goods sold 1,629,799. Fundraising event expenses 910,864. Central America And The Caribbean 0 0 Investments 92749429 East Asia and the Pacific 0 0 Traveling Exhibition Travel and publication expenses associated with traveling exhibition, The Essential Duchamp 560933 0 0 0 0 0 0 93310362 0 93310362 1 0 1 1 1 0 Form F, Line 3 Foreign expenses associated with traveling exhibition, The Essential Duchamp, were reimbursed by exhibition co-presenters. X X X X X X 1 Grenzebach Glier & Associates Inc 401 N Michigan Avenue Suite 2800 Chicago IL 60611 Consultant 0 0 71168 -71168 CDR Fundraising Group 16900 Science Drive Suite 210 Bowie MD 20715 Consultant 0 0 103000 -103000 174168 -174168 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 Art and Antique Show 1167771 610216 557555 433226 90256 14697 372685 1167771 610216 557555 433226 90256 14697 372685 910864 -353309 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. PROFESSIONAL SERVICES FEES AND ADMINISTRATIVE COSTS PAID TO GRENZEBACH GLIER & ASSOCIATES, INC. WERE $67,415 AND $3,753 RESPECTIVELY. PROFESSIONAL SERVICE FEES PAID TO CDR FUNDRAISING GROUP WERE $103,000. X X X X X 0 0 0 0 0 0 0 0 0 Timothy F Rub Director and CEO 668585 0 0 0 3810 0 13625 0 38225 0 724245 0 0 0 Gail M Harrity President and COO 398301 0 0 0 3810 0 13625 0 18007 0 433743 0 0 0 Jeffrey Blair Secretary and General Coun 276785 0 0 0 450 0 13625 0 16976 0 307836 0 0 0 Deborah Johnston CFO 178947 0 0 0 744 0 0 0 9192 0 188883 0 0 0 Alice Beamesderfer Deputy Director for Collec 174050 0 0 0 3475 0 9259 0 14769 0 201553 0 0 0 Ali Shaikholislami Director of Engineering&Fa 190682 0 0 0 3727 0 9811 0 6867 0 211087 0 0 0 Jonathan L Peterson Director of Development 286157 0 0 0 690 0 13625 0 8738 0 309210 0 0 0 David Blackman Deputy Dir Develop-through June 2019 233822 0 0 0 1290 0 12080 0 17998 0 265190 0 0 0 William Weinstein Director of IIT 167790 0 0 0 1691 0 7023 0 17163 0 193667 0 0 0 Carlos Basualdo Curator of Contemporary Ar 163937 0 0 0 545 0 8239 0 1654 0 174375 0 0 0 Luis Bravo Creative and Brand Engagem 147740 0 0 0 211 0 6938 0 17024 0 171913 0 0 0 Tracey Button Director of Marketing and Communicat 174578 0 0 0 844 0 0 0 11799 0 187221 0 0 0 Robert T Rambo Former CFO (term 3-30-2018) 100840 0 0 0 1664 0 5826 0 2977 0 111307 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 3115000 46530000 46530000 2010 1 0 1 1 B 64340000 145000 64195000 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, 2010 to June 22, 2015 (the "Computation Period") was completed on August 21, 2015. Schedule K, Part IV, Line 2(c) (B) - Draw down loan; $64,340,000 has been drawn to date and expect that all draws will be made within three years of the issue date. X 823 X 86 5229490 Market Value 27 0 0 0 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 it being filed with Internal Revenue Service. Form 990, Part VI, Section B, line 12c The Museum's Conflict of Interest Policy is reviewed 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. 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 independent Compensation subcommittee. The review is based on a market analysis prepared by the Museum's Finance department under the direction and supervision of the Compensation subcommittee using published compensation surveys and available tax returns for Not-for-profit organizations comparable in scope and size to the Philadelphia Museum of Art. 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 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 and conflict of interest policy are available upon request. Form 990, Part IX, line 11g Other Consultants: Program service expenses 882,204. Management and general expenses 195,935. Fundraising expenses 115,501. Total expenses 1,193,640. Security: Program service expenses 4,195,221. Management and general expenses 308,158. Fundraising expenses 106,995. Total expenses 4,610,374. Maintenance: Program service expenses 1,874,440. Management and general expenses 137,686. Fundraising expenses 47,806. Total expenses 2,059,932. Form 990, Part XI, line 9: Change in fair value of interest rate exchange agreement -1,884,329. 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 1 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 63996 FMV