2019-05-14T11:40:50-07:00 2018-06-30 990 2017-07-01 131624100 MUSEUM OF MODERN ART MUSE 2127089400 11 West 53rd Street New York NY 10019 James Gara Chief Operating Officer 2127089801 2019-05-14 38.125.15.118 2017 2019-02-21 02:37:17Z Marie Josee-Kravis 11 West 53rd Street New York NY 10019 545875620 0 X www.moma.org X 1929 NY The Museum of Modern Art establishes, preserves, and documents a 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 in conjunction with the annual report, which provides an overview of all museum activities during the year, and 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 revenues of $221.9 million exceeded operating expenses of $217.5 million by $4.4 million. 46 43 1269 318 3191998 -394484 293239910 135938870 31645059 34542278 98503829 81951553 31041650 30882165 454430448 283314866 690897 1407792 0 0 103718563 102182385 0 0 12892059 148283233 170442668 252692693 274032845 201737755 9282021 2169405025 2206703573 483211542 479762819 1686193483 1726940754 X See schedule O 0 0 125187452 1407792 61597006 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 2018, almost 4 million children, students, and adults, of all abilities, were served by the Education Department: 2.8 million onsite visitors who accessed or participated in interpretative programs including labels and audio content (offered in nine languages) to support their learning in the galleries; almost 1 million who used online educational resources; and nearly 250,000 who participated in programs. The Museum is anchored by a vibrant and dynamic program including a rich temporary exhibition schedule at the Museum, gallery rotations, a performance art series, the film program, many educational programs, publications and online content. In FY 2018, the Museum administered over 25 temporary exhibitions. In addition, the quality and depth of the Museum's collections enable the Museum to maintain an active loan program which serves institutions both in the United States and abroad. Some of the exhibitions on view during FY2018 were as follows: Louise Bourgeois: An unfolding Portrait, Items: Is Fashion Modern?, Max Ernst: Beyond Painting, Stephen Shore, Club 57: Film, Performance and Art in the East Village 1978-1983, Thinking Machines: Art and Design in the Computer Age 1959-1989, Being: New Photography 2018, Tarsila do Amaral: inventing Modern Art In Brazil. 47215735 0 9253515 In FY 2018, over 1,000 works were added to this collection, both by donation and by purchase, including the purchase of the Merrill C. Berman Collection of early 20th century works on paper that demonstrate the wide-ranging experimentation and political and social engagement of artists in this period and offer an overview of the major avant-garde movements of the era-Dada, the Bauhaus, de Stijl, Futurism, and Russian Constructivism-and include works by Aleksandr Rodchenko, Lyubov Popova, John Heartfield, and Hannah Hoch. Also in FY 2018, the Museum and Neue Galerie New York jointly acquired Paula Modersohn- Becker's Self-Portrait with Two Flowers in Her Raised Left Hand (1907). A full compendium of works acquired during FY 2018 is available online as part of the Museum's year in review. 41678079 0 0 Security, operations, and maintenance of exhibition galleries and art collection. 0 0 0 214081266 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 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 0 0 1 876 0 1 1269 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 46 43 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL 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 VT WA WI WV X X John C Bailey - Controller 2127089801 11 West 53rd Street New York NY 10019 Ronald S Lauder Honorary Chairman/Trustee 1 0 X X 0 0 0 Robert B Menschel Chairman Emeritus/Life Trustee 0.5 0 X X 0 0 0 Agnes Gund President Emerita/Life Trustee 0.5 0 X X 0 0 0 Donald B Marron President Emeritus/Life Trustee 0.5 0 X X 0 0 0 Jerry I Speyer Chairman/Trustee 1 0 X X 0 0 0 Leon D Black Co-Chairman/Trustee 5.00 0 X X 0 0 0 Marie-Josee Kravis President /Trustee 1 0 X X 0 0 0 Mimi Haas Vice Chairman/Trustee 1 0 X X 0 0 0 Marlene Hess Vice Chairman/Trustee 1 0 X X 0 0 0 Richard E Salomon Vice Chairman/Treasurer/Trustee 1 0 X X 0 0 0 Sarah Arison Trustee 1 0 X 0 0 0 Lawrence B Benenson Trustee 1 0 X 0 0 0 Clarissa Alcock Bronfman Trustee 1 0 X 0 0 0 David Booth Trustee 1 0 X 0 0 0 Patricia Phelps de Cisneros Trustee 1 0 X 0 0 0 Paula Crown Trustee 1 0 X 0 0 0 Edith Cooper Trustee 1 0 X 0 0 0 Steven Cohen Trustee 1 0 X 0 0 0 David Dechman Trustee 1 0 X 0 0 0 Anne Dias Griffin Trustee 1 0 X 0 0 0 Glenn Dubin Trustee 1 0 X 0 0 0 John Elkann Trustee 1 0 X 0 0 0 Laurence D Fink Trustee 1 0 X 0 0 0 Glenn Fuhrman Trustee 1 0 X 0 0 0 Kathleen Fuld Trustee 1 0 X 0 0 0 Howard Gardner Trustee 1 0 X 0 0 0 Ronnie Heyman Trustee 5.00 0 X 0 0 0 AC Hudgins Trustee 1 0 X 0 0 0 Jill Kraus Trustee 1 0 X 0 0 0 Michael Lynne Trustee 1 0 X 0 0 0 Khalil Gibran Muhammad Trustee 1 0 X 0 0 0 Philip S Niarchos Trustee 1 0 X 0 0 0 James G Niven Trustee 1 0 X 0 0 0 Peter Norton Trustee 1 0 X 0 0 0 Daniel S Och Trustee 1 0 X 0 0 0 Maja Oeri Trustee 1 0 X 0 0 0 Michael S Ovitz Trustee 1 0 X 0 0 0 Ronald O Perelman Trustee thru May 29, 2018 1 0 X 0 0 0 David Rockefeller Jr Trustee 1 0 X 0 0 0 Sharon Percy Rockefeller Trustee 1 0 X 0 0 0 Marcus Samuelsson Trustee thru May 29, 2018 1 0 X 0 0 0 Anna Deavere Smith Trustee 1 0 X 0 0 0 Ricardo Steinbruch Trustee 1 0 X 0 0 0 Jon Stryker Trustee 1 0 X 0 0 0 Daniel Sundheim Trustee 1 0 X 0 0 0 Tony Tamer Trustee 1 0 X 0 0 0 Alice M Tisch Trustee 1 0 X 0 0 0 Gary Winnick Trustee 0.5 0 X 0 0 0 Wallis Annenberg Life Trustee 0.5 0 X 0 0 0 Sid R Bass Life Trustee 0.5 0 X 0 0 0 Eli Broad Life Trustee 0.5 0 X 0 0 0 Douglas S Cramer Life Trustee 0.5 0 X 0 0 0 Joel S Ehrenkranz Life Trustee 0.5 0 X 0 0 0 Gianluigi Gabetti Life Trustee 0.5 0 X 0 0 0 Barbara Jakobson Life Trustee 0.5 0 X 0 0 0 Werner H Kramarsky Life Trustee 0.5 0 X 0 0 0 June Noble Larkin Life Trustee 0.5 0 X 0 0 0 Peter G Peterson Life Trustee 0.5 0 X 0 0 0 Emily Rauh Pulitzer Life Trustee 0.5 0 X 0 0 0 Anna Marie Shapiro Life Trustee 0.5 0 X 0 0 0 Jeanne C Thayer Life Trustee 0.5 0 X 0 0 0 Joan Tisch Life Trustee 0.5 0 X 0 0 0 Edgar Wachenheim III Life Trustee 1 0 X 0 0 0 Glenn D Lowry Director/Ex-Officio Trustee 40 0 X 1288527 0 998047 James Gara Chief Operating Officer/Assistant Treasurer 40 0 X 882689 0 416364 Patty Lipshutz General Counsel/Secretary 40 0 X 643087 0 183704 Anthony Wai Chief Investment Officer 40 0 X 917435 0 194306 Kathy Halbreich Associate Director through Decmber 2017 40 0 X 493083 0 92935 Todd Bishop Senior Deputy Director of External Affairs 40 0 X 445301 0 167108 Peter Reed Senior Deputy Director for Curatorial Affairs 40 0 X 398146 0 134460 Ramona Bannayan Senior Deputy Director for Exhibitions 40 0 X 344717 0 77081 Jan Postma Chief Financial Officer 40 0 X 352570 0 67534 Ann Temkin Chief Curator - Painting and Sculpture 40 0 X 367187 0 85136 Klaus Biesenbach Chief Curator at Large 0 40 X 0 514880 8221 Tunji Adeniji Director of Facilities and Security 40 0 X 284699 0 37084 Rajendra Roy Chief Curator - Film 40 0 X 337124 0 56922 Christophe Cherix Chief Curator - Drawings and Prints 40 0 X 361322 0 66407 Quentin Bajac Chief Curator - Photography 40 0 X 309710 0 29333 Stuart Comer Chief Curator-Media & Performance Art 40 0 X 283194 0 20495 Martino Stierli Chief Curator-Arch. and Design 40 0 X 262131 0 33862 Emmanuel Plat Director, Merchandising 40 0 X 382716 0 51465 Frank Ahimaz thru June 2017 Chief Investment Officer 40 0 X X 1657285 0 304126 Jean Savitsky Dir. Real Estate Expansion 40 0 X 429788 0 92681 Thomas Randon General Mgr - Retail 40 0 X 426101 0 116676 Christopher Hudson Publisher 40 0 X 352989 0 92432 11219801 514880 3326379 188 1 1 0 Diller Scofidio and Renfro 601 West 26 Street New York NY 10001 Architect 4254397 Advanced Contracting Services LLC 1 Just Road Fairfield NJ 07004 Renovation 1906368 Retail Cloud Technologies 380 Park Place Blvd Suite 250 Clearwater FL 33759 Information Technology - Retail 610019 Proskaur Rose LLP Eleven Time Square New York NY 10036 Legal Services 397968 PricewaterhouseCoopers PO Box 7247-8001 Philadelphia PA 19170 Audit 348409 22 0 2670598 10003835 0 22200 123242237 20172397 135938870 Admissions 712100 29853419 29853419 0 0 Exhibition Tour Income 712100 3135169 3135169 0 0 1553690 1553690 0 0 34542278 19304812 0 -304809 19609621 0 0 0 0 24287 0 0 24287 944715 0 298310 0 646405 0 646405 0 0 646405 282644000 9253515 229250774 0 53393226 9253515 62646741 9253515 0 53393226 467720 10003835 2010221 -1542501 0 -1542501 0 0 0 0 0 0 60169151 31001449 29167702 26088488 3079214 0 Museum Restaurant 722310 1226726 0 0 1226726 Corporate Events 900099 1359546 941953 417593 0 0 0 0 0 2586272 283314866 70826234 3191998 73357764 1407792 1407792 0 0 0 0 0 0 12629699 3369764 8748893 511042 0 0 0 0 61995637 53516574 4195510 4283553 9501869 7243204 1648180 610485 12813792 9767858 2222662 823272 5241388 3995471 909164 336753 0 0 0 0 893747 0 893747 0 409258 0 409258 0 60000 0 60000 0 0 0 10560337 0 10560337 0 17488531 11273978 3518059 2696494 6271003 4732581 0 1538422 12849148 11311840 862634 674674 1419124 0 1419124 0 120456 120456 0 0 16022864 12023611 3075339 923914 3059626 2769205 209012 81409 0 0 0 0 0 0 0 0 6881661 6881661 0 0 0 0 0 0 34980125 27860125 6873000 247000 1878107 1794343 60133 23631 Acquisition of Works of Art 47215735 47215735 0 0 Membership Dues & Subscriptions 320308 220793 90179 9336 Administrative & Other Expenses 10012638 8576275 1304289 132074 0 0 0 0 274032845 214081266 47059520 12892059 19335139 7610061 192832417 143161716 389730953 286693830 8317000 6435951 0 0 0 0 0 0 13195321 16333214 10945637 12724818 1001431487 368326111 547507707 633105376 622782699 660683360 330562774 407195419 0 0 0 0 34195378 32759828 2169405025 2206703573 59627209 78649633 0 0 2246000 3515735 323940672 318056877 0 0 9366471 7805914 0 0 17800000 17800000 70231190 53934660 483211542 479762819 X 678533738 683606206 664947753 676460556 342711992 366873992 1686193483 1726940754 2169405025 2206703573 X 9282021 14181788 0 0 0 17283462 X 0 1 X 1 0 X 123940602 135284742 301824589 293352283 283314867 1137717083 0 0 0 0 0 0 0 0 0 0 0 0 123940602 135284742 301824589 293352283 283314867 1137717083 111383901 1026333182 16484359 13641465 15184334 17428734 20249526 82988418 1735350 789462 999201 524759 3667244 7716016 4399438 4287220 4199138 2678785 3053993 18618574 1247040091 42527852 0.82302 0.89817 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. 0 60000 60000 195693490 195753490 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 60000 50000 60000 60000 230000 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X X X 0 1038907000 98858000 20357000 0 82404000 0 1075718000 784321000 251808000 39112000 0 36334000 0 1038907000 605972000 254380000 -30458000 0 45573000 0 784321000 542464000 86184000 8285000 0 30961000 0 605972000 459691000 70582000 37563000 0 25372000 0 542464000 0.028 0.341 0.631 0 0 0 91352129 91352129 0 542264017 279804475 262459542 0 8565305 4987622 3577683 0 91822197 83534014 8288183 0 267427839 0 267427839 633105376 82379 F 0 Private Equity 170573640 F Credit 115077050 F Multi-strat & other 76249000 F Event Driven 29954180 F Real Assets 15259170 F 407195419 Receivable Trust for Cultural Resources 32081724 Accrued investment income 678104 32759828 0 Pension and post retirement benefits 53934660 53934660 342591000 14181788 0 0 16594000 30775788 311815212 13207931 -41708277 -28500346 283314866 300915000 0 0 0 9827595 9827595 291087405 13207931 -30262491 -17054560 274032845 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 used exclusively to acquire other items for 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, preserve 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 The Museum's endowment funds consist of approximately 160 individual funds established for a variety of purposes, including exhibitions, publications, educational, operating support and, art acquisitions. 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. Schedule D, Part XI, Line 2d Primarily defined benefit plan changes related to non-operating activities Schedule D, Part XI, Line 4b primarily consists of cost of goods sold on retail operations ($31,001,449), amounts related to special events ($1,298,837) and related organizations which file a separate return ($9,407,990) Schedule D, Part XII, Line 2d Primarily related to organizations which file a separate return ($10,516,595) and change in swap valuations ($689,000) Schedule D, Part XII, Line 4b Primarily consists of cost of goods sold on retail operations ($31,001,449), amounts related to specal events ($1,298,237), rental expenses ($298,310) and expenses related to traveling exhibitions ($65,768). Central America and the Caribbean 0 0 Investments 110428408 Europe (including Iceland and Greenland) 0 0 Investments 47883666 North America (including Canada and Mexico, but not the United States) 0 0 Investments 4007072 East Asia and the Pacific 0 0 Investments 440905 0 0 162760051 1 0 1 1 1 0 Schedule F, Part I, Line 3 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. Party in the Garden 5331900 5135870 196030 0 0 47075 212593 193964 1076852 DR Luncheon 3262500 3153900 108600 0 0 37990 54465 10500 71033 2 1409435 1246345 163090 0 0 51361 68768 73019 112601 10003835 9536115 467720 0 0 136426 335826 277483 1260486 2010221 -1542501 1 MoMA PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 501c(3) 1407792 0 Operating Support 1 0 Schedule I, Part I, Line 2 The Museum as sole Member of PS1 Contemporary Art Center, Inc (DBA MoMA PS1). In 2000 MoMA PS1 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 1 1 0 0 0 0 0 1 0 Glenn D Lowry Director/Ex-Officio Trustee 869353 0 405183 0 13991 0 639860 0 358187 0 2286574 0 0 0 James Gara Chief Operating Officer/Assistant Treasurer 511917 0 350000 0 20772 0 378777 0 37587 0 1299053 0 350000 0 Anthony Wai Chief Investment Officer 455136 0 457307 0 4992 0 166200 0 28106 0 1111741 0 457307 0 Patty Lipshutz General Counsel/Secretary 420464 0 200000 0 22623 0 146959 0 36745 0 826791 0 200000 0 Todd Bishop Senior Deputy Director of External Affairs 381338 0 45000 0 18963 0 136192 0 30916 0 612409 0 45000 0 Kathy Halbreich Associate Director 471883 0 0 0 21200 0 73598 0 19337 0 586018 0 0 0 Peter Reed Senior Deputy Director for Curatorial Affairs 395403 0 0 0 2743 0 101669 0 32791 0 532606 0 0 0 Klaus Biesenbach Chief Curator at Large 0 513638 0 0 0 1242 0 0 0 8221 0 523101 0 0 Ann Temkin Chief Curator - Painting and Sculpture 347409 0 0 0 19778 0 53787 0 31349 0 452323 0 0 0 Christophe Cherix Chief Curator - Prints & Illustrated Books 351074 0 0 0 10248 0 30890 0 35517 0 427729 0 0 0 Ramona Bannayan Senior Deputy Director for Exhibitions 325168 0 0 0 19549 0 38065 0 39016 0 421798 0 0 0 Jan Postma Chief Financial Officer 352179 0 0 0 391 0 22163 0 45371 0 420104 0 0 0 Rajendra Roy Chief Curator - Film 336598 0 0 0 526 0 27480 0 29442 0 394046 0 0 0 Quentin Bajac Chief Curator - Photography 308979 0 0 0 731 0 0 0 29333 0 339043 0 0 0 Tunji Adeniji Director of Facilities and Security 265474 0 0 0 19225 0 16200 0 20884 0 321783 0 0 0 Stuart Comer Chief Curator-Media & Performance Art 282767 0 0 0 427 0 0 0 20495 0 303689 0 0 0 Martino Stierli Chief Curator-Arch. and Design 243861 0 0 0 18270 0 15877 0 17985 0 295993 0 0 0 Frank Ahimaz thru June 2017 Chief Investment Officer 395263 0 850000 0 412022 0 301404 0 2722 0 1961411 0 850000 0 Thomas Randon General Mgr - Retail 327741 0 80000 0 18360 0 96200 0 20476 0 542777 0 80000 0 Jean Savitsky Dir. Real Estate Expansion 378782 0 50000 0 1006 0 66200 0 26481 0 522469 0 50000 0 Christopher Hudson Publisher 332208 0 0 0 20781 0 65431 0 27001 0 445421 0 0 0 Emmanuel Plat Director, Merchandising 356810 0 25000 0 906 0 16200 0 35265 0 434181 0 0 0 Schedule J, 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. Schedule J, Part I, Line 4 Commencing with Fiscal Year 2014 and included in column B for Glenn Lowry, Director, is an accrual of $560,261 for a multi-year supplemental employee retirement plan. The Museum entered into a separation agreement with Frank Ahimaz. Such separation amounts are properly disclosed as other compensation on Part II column B(iii) and Part II column C. Schedule J, Part I, Line 7 Glenn Lowry - Director, full-time employee, officer and ex officio trustee. In 2018 Glenn Lowry earned $869,353 in base compensation as well as (ii) an annual bonus of $405,183 included in column B. These numbers compared to $844,196 and $393,382 in 2017. Commencing with Fiscal Year 2014 and included in column C, is an accrual of $560,261 for a multi-year supplemental employee retirement plan. the cumulative accrual through June 30, 2018 for Fiscal Years 2014 through 2018 is $2,801,304. James Gara - Chief Operating Officer and Assistant Treasurer, full time employee and officer, but not a trustee. Included in column B(ii) are amounts attributable to earned and paid portions of a performance-based bonus. The performance bonus was awarded based on the achivement by Mr. Gara of certain service and performance requirements in areas such as operations and investments. Patty Lipshutz - General Counsel and Secretary, full -time employee and officer but not a trustee. Eligible for a retention bonus. Anthony Wai - Chief Investment Officer, full-time employee but not a trustee. Eligible for retention and annual bonus based on achievement of performance measures. An annual performance bonus plan was paid in 2018 and is included in compensation. Todd Bishop - Senior Deputy Director - External Affairs. Full-time employee but not trustee. Included in B(ii) is a performance bonus. A portion of the performance bonus plan was paid in 2018 and is included in compensation. Klaus Biesenbach - Director of MoMA PS1 - Biesenbach receives compensation from MoMA PS1. He also serves as MoMA's Chief Curator at Large. A The Trust for Cultural Resources of City of New York Series 2016 One E 911882413 649717TE5 2016-08-02 330117210 Finance new money project and refund prior issues 0 0 0 A 0 0 331915225 0 0 133621281 1723748 0 0 152227251 44307669 35277 0 1 0 1 A A 0 1 0 0 0 0 0 0 1 Schedule K, Part I, Column e-08/02/2016 330,117,210 The Trust for Cultural Resources of The difference between Part I (e) and Part II, Line 3 is due to interest earning on bond proceeds. Schedule K, Part I, Column f-08/02/2016 330,117,210 The Trust for Cultural Resources of Part 1 (f): The bonds refund 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 1-08/02/2016 330,117,210 The Trust for Cultural Resources of Part III: The refunding portion of the bonds refunded prior bonds issued before January 1, 2003. The new money portion of the bonds finances a new money project, no portion of which has been placed in service as of the end of the reporting period. Thus, no potential for private use on the bonds exists as of the end of the reporting period. Therefore, the Borrower has not completed Part III with respect to the Bonds. Top of the Rock Trustee 173746 see comments 0 Laurenz Foundation Trustee 750000 see comments 0 Schedule L, Part IV The Museum has an agreement with Top of the Rock, LLC which provides for each of the Museum and Top of the Rock to sell "combo packages" of admission tickets at a discount, to each of the Museum and Top of the Rock. The Museum and Top of the Rock each remit funds to the other for admission tickets sold for entrance to the others venue. Two Trustees of the Museum, Paula Crown & Jerry Speyer, have direct or indirect financial interests in Top of the Rock. In addition, these Trustees also have direct and indirect interests together in entities that own real estate investment properties around the world. Ms. Oeri is the President of the Emanuel Hoffman Foundation and the Laurenz Foundation. The Laurenz Foundation and MoMA entered into an agreement to co-organize the Bruce Nauman exhibition to be shown at the Schaulager in Basel, Switzerland and at MoMA in New York. Laurenz Foundation and MoMA also entered into an agreement to publish the exhibition catalogue, and was the main sponsor of the exhibition at MoMA. The Laurenz also supports a curatorial position. X 1101 0 no applicable X 148 20172397 settlement 0 1 1 Schedule M, Part I 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 (formally FASB Statement of Financial Accounting Standards 116), 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 solely to acquire other items for the collection. Schedule M, Part I, Line 1 Loans of art work 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 3 Gifts of art work are considered by individual item. Fractional interests in art are considered one gift per partial interest. 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. Schedule M, 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 and galleries to facilitate approved deaccessions of art work. Form 990, Part III, Line 1 The Museum of Modern Art is a private, nonprofit educational institution chartered by the State of New York in 1929 to foster public awareness of modern and contemporary art. 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 46 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 permanent 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 temporary 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 & Sculpture, Architecture & Design, Film, Photographs, Media & Performance) and a number of curatorial support departments. The curatorial support departments include collection care, collection exhibition information, conservation, exhibition administration, exhibition design and production, film operations and preservation, imaging, digital media, 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 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. An estimated one million individuals participate in targeted educational programs onsite, online, and in our community each year and all Museum visitors have access to many forms of educational resources that complement the collection and exhibitions. These resources include information labels, public tours and audio tours in ten languages as well as visual description tours for the blind and partially sighted and others with disabilities. 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. Educational programs take place throughout the week. In recent years, the Museum has strengthened efforts of engaging a global community and now provides a wealth of educational resources to individuals around the world, including free online courses and live streamed public programs, among others. Form 990, Part VI, Section A, Line 2 Two Trustees of the Museum have direct or indirect financial interests in Top of the Rock, an observation deck in Rockefeller Center. The Museum has an agreement with Top of the Rock, LLC through November, 2018 which provided for each of the Museum and Top of the Rock to sell "combo packages" of admission tickets at a discount, to each of the Museum and Top of the Rock. In addition, these Trustees also have direct and indirect interests together in entities that own real estate investment properties around the world. Form 990, Part VI, Section B, Line 11b The Museum's form 990 is drafted by 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, as well as by external tax advisors. 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 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 participating, the compensation terms approved, the data relied upon and how it was obtained. The Committee periodically meets and reviews, the last meeting was held in November 12, 2018. 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 www.moma.org. Form 990, Part XI, Line 9 Other changes in net assets include defined benefit plan changes other than net periodic benefit costs ($16,594,000) and changes in valuation of interest rate swap ($689,344) AFE LLC 11 West 53rd Street New York NY 10019 202379359 Real Estate NY -278263 3737644 Museum of Modern Art Modern and Contemporary Art Support Corp 11 West 53rd Street New York NY 10019 133910972 Receive, acquire & hold title in ppty DE 501 (c) 3 12 - Type 1 N/A 1 MoMA Auxiliaries 11 West 53rd Street New York NY 10019 133975341 Manage Retail Operations DE 501 (c) 3 12 - Type 1 N/A 1 PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 Contemporary Art Exhibitions NY 501 (c) 3 7 N/A 1 The International Council of The Museum of Modern Art 11 West 53rd Street New York NY 10019 136143744 Support Corporation NY 509 (a) 3 N/A 0 Alta Cultura 11 West 53rd Street New York NY 10019 134114902 General Business Corporation DE N/A C 0 857198 1 0 5 Charitable Trusts N/A Various 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 PS1 Contemporary Art Center Inc b 1407792 cost method PS1 Contemporary Art Center Inc d 2000000 fair market value PS1 Contemporary Art Center Inc l 691689 cost method MoMA Auxiliaries p 2871544 cost method The International Council of The Museum of Modern Art c 651585 fair market value The International Council of The Museum of Modern Art o 402702 cost method The International Council of The Museum of Modern Art q 30531 cost method The International Council of The Museum of Modern Art r 323213 fair market value The International Council of The Museum of Modern Art s 78000 fair market value Modern and Contemporary Art Support Corp q 212183 cost method 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 International Council of the Museum of Modern Art and MoMA PS1 Contemporary Art Center to invest and manage the Councils and PS1s endowment funds. The amounts transferred for investment and spending from these endowments are reflected in Part V.