2018-07-03T11:17:26-05:00 2018-03-31 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2017-04-01 251596285 FRICK ART & HISTORICAL CENTER INC FRIC 4123710600 7227 REYNOLDS STREET PITTSBURGH PA 152082919 ROBIN NICHOLSON EXECUTIVE DIRECTOR 4123710600 2018-06-15 1 SARAH R PIOT P01358891 4122613644 2017 2022-09-23 18:48:47Z THE FRICK PITTSBURGH ROBIN NICHOLSON 7227 REYNOLDS STREET PITTSBURGH PA 152082919 25044293 0 X WWW.THEFRICKPITTSBURGH.ORG X 1988 PA CONTINUING THE LEGACY OF HELEN CLAY FRICK, WE WILL OFFER ONE OF THE BEST EXPERIENCES OF ART, HISTORY AND NATURE IN A WELCOMING ENVIRONMENT THAT INSPIRES AND DELIGHTS. 27 27 224 30 -3445 -3445 2864343 5673956 448808 503839 1664728 4420331 511786 496640 5489665 11094766 3000 3000 0 0 3104950 3260902 0 0 526721 3199452 4180930 6307402 7444832 -817737 3649934 98162713 103793213 2491067 332424 95671646 103460789 CONTINUING THE LEGACY OF HELEN CLAY FRICK, WE WILL OFFER ONE OF THE BEST EXPERIENCES OF ART, HISTORY AND NATURE IN A WELCOMING ENVIRONMENT THAT INSPIRES AND DELIGHTS. 0 0 1930510 3000 108383 INTERPRETATION - THE FRICK PROVIDES HIGH-QUALITY, ENGAGING, INTELLIGENT PROGRAMS AND EXPERIENCES FOR EACH AND EVERY VISITOR, INCLUDING THOSE WHO WANT TO LEARN FROM THE FRICK BUT CANNOT VISIT THE MUSEUM IN PERSON. THROUGH SCHOOL TOURS AND WORKSHOPS, ADULT WORKSHOPS, LECTURES, FILMS, CONCERTS AND OTHER PROGRAMS, THE FRICK'S RESOURCES ARE USED TO ILLUMINATE, FOR A WIDE AUDIENCE, THE ART, HISTORY, ARCHITECTURE AND CULTURE OF A PIVOTAL TIME IN PITTSBURGH'S HISTORY. FOR THE YEAR ENDED MARCH 31, 2018, 46,688 PEOPLE PARTICIPATED IN INTERPRETIVE AND EDUCATIONAL PROGRAMS. 1244554 922665 PRESENTATION - THE FRICK PITTSBURGH OFFERS ONGOING EXHIBITIONS OF ITS PERMANENT COLLECTIONS OF FINE AND DECORATIVE ARTS AND HISTORICAL ARTIFACTS, INCLUDING TOURS OF CLAYTON, THE RESTORED HOME OF INDUSTRIALIST HENRY CLAY FRICK. PRESENTATION OF THE PERMANENT COLLECTION IS AUGMENTED BY TEMPORARY EXHIBITIONS OFFERED THROUGHOUT THE YEAR, WHICH THIS YEAR INCLUDED THE FRICK COLLECTS: FROM RUBENS TO MONET; IRVING PENN: BEYOND BEAUTY; AND UNDRESSED: A HISTORY OF FASHION IN UNDERWEAR. TOURS AND INSTALLATIONS AT CLAYTON, INCLUDED: THROUGH THE BACK DOOR: DOMESTIC SERVICE DURING THE HOLIDAYS AT CLAYTON. THE CAR AND CARRIAGE MUSEUM DISPLAYED THE MUSEUM'S PERMANENT COLLECTION. 2710855 PRESERVATION - IN ADDITION TO ONGOING PREVENTIVE CONSERVATION AND COLLECTIONS MANAGEMENT, THE FOLLOWING ARE THE MOST SIGNIFICANT CONSERVATION PROJECTS UNDERTAKEN THIS YEAR: BEGINNING MAJOR STRUCTURAL REPAIRS TO THE NORTHWEST PORCH AT CLAYTON; CLEANING, STABILIZATION AND REPAIR OF LOSSES ON 3 EARLY 16TH-CENTURY TAPESTRIES, REPAIRS TO 1929 FORD MODEL A, POLISHING AND PROTECTIVE LACQUERING OF THE BRASS COMPONENTS ON 1909 STANLEY STEAMER. 5885919 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 60 0 1 224 1 1 1 0 0 0 0 1 1 0 0 0 0 X 27 27 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X X ROBIN NICHOLSON 4123710600 7227 REYNOLDS STREET PITTSBURGH PA 152082919 MARY LOUISE BABST TRUSTEE 2.00 X 0 0 0 DAVID BURSTIN TRUSTEE 2.00 X 0 0 0 ARABELLA DANE TRUSTEE 2.00 X 0 0 0 DONNA L DELIE TRUSTEE 2.00 X 0 0 0 SUZZARA FC DUROCHER TRUSTEE 2.00 X 0 0 0 KATE FREED TRUSTEE 2.00 X 0 0 0 GENE FREEMAN TRUSTEE 2.00 X 0 0 0 VIRGINIA BURDEN HART TRUSTEE 2.00 X 0 0 0 MICHAEL J HATCHER TRUSTEE 2.00 X 0 0 0 ALIXINE O'MALLEY HAUCK TRUSTEE 2.00 X 0 0 0 HENRY W HENNINGER TRUSTEE 2.00 X 0 0 0 BARBARA NOBLE HOWARD TRUSTEE (ENTERED 06/2017) 2.00 X 0 0 0 SUSAN HUNTER TRUSTEE (ENTERED 12/2017) 2.00 X 0 0 0 ERIN ISLER TRUSTEE 2.00 X 0 0 0 KIRK JOHNSON TRUSTEE 2.00 X 0 0 0 MARTHA CHACE LORING TRUSTEE 2.00 X 0 0 0 PAMELA PEELE TRUSTEE 2.00 X 0 0 0 ROBERT SCHUETZ TRUSTEE 2.00 X 0 0 0 WALTER A SCOTT III TRUSTEE 2.00 X 0 0 0 BRIAN SLOAN TRUSTEE 2.00 X 0 0 0 MARK A SNYDER TRUSTEE 2.00 X 0 0 0 LOUIS L TESTONI TRUSTEE 2.00 X 0 0 0 CHARLES R BURKE JR CHAIR 7.50 X X 0 0 0 EDWARD H DANE VICE CHAIR 7.50 X X 0 0 0 CAROLYN B REED VICE CHAIR 7.50 X X 0 0 0 STEVEN M PAVSNER SECRETARY 7.50 X X 0 0 0 NANCY BROMALL BARRY TREASURER 7.50 X X 0 0 0 ROBIN NICHOLSON EXECUTIVE DIRECTOR 40.00 X 204579 0 50773 LISA MACIOCE CFO 40.00 X 83643 0 19464 288222 0 70237 1 0 1 0 SOS SECURITY COMPANY PO BOX 6373 1915 ROUTE 46 PARSIPPANY NJ 07054 SECURITY 263310 TURNER CONSTRUCTION CO 1133 PENN AVE SUITE 300 PITTSBURGH PA 15222 CONSTRUCTION 102027 2 441242 121613 3200000 1911101 180448 5673956 ADMISSIONS 900099 395456 395456 PROGRAMS 900099 108383 108383 503839 1146523 -5453 1151976 18294 18294 16810160 13536352 3273808 3273808 3273808 57047 121613 107918 -50871 -50871 834474 305257 529217 527209 2008 11094766 1031048 -3445 4393207 3000 3000 365881 62557 199400 103924 2101025 1818400 120553 162072 109662 72185 24596 12881 498894 380097 89856 28941 185440 142875 26244 16321 723 723 27468 27468 119555 119555 400940 286227 68908 45805 369152 369152 435783 343936 46656 45191 112632 84294 18680 9658 592179 559641 22589 9949 47587 19928 27063 596 32032 32032 668993 614695 53970 328 96734 13129 83605 EXHIBITION FEES 681775 681775 SECURITY 280466 151846 86876 41744 314911 250150 15450 49311 7444832 5885919 1032192 526721 293037 367607 1534996 5002985 603204 439712 101385 123860 156583 723312 24639111 8863978 15701444 15775133 71478296 72147004 950778 1981513 7342990 7232087 98162713 103793213 441067 332424 2050000 0 2491067 332424 X 93735568 100283895 1902978 3143794 33100 33100 95671646 103460789 98162713 103793213 3649934 4139209 0 X X 0 1 X 1 0 X 7508521 3026149 2655164 2864343 5673956 21728133 71500 71500 71500 71500 71500 357500 7580021 3097649 2726664 2935843 5745456 22085633 5815080 16270553 1073207 1118021 1115659 1252801 1164817 5724505 882 484 1366 27811504 4900306 0.58500 0.53770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7232087 X X X X 0 70724234 8558191 1905086 67564 77309775 65622974 8527439 3362336 63843 70724234 72350185 -1959219 4714309 53683 65622974 70836986 4528302 2961466 53637 72350185 65092043 8954468 3140747 68778 70836986 0.99960 0.00040 0.00000 0 0 111750 111750 22720052 7562946 15157106 114486 114486 1196589 921598 274991 496234 379434 116800 15775133 PERMANENT COLLECTION OF ART AND ARTIFACTS 7232087 7232087 X 15718650 4139209 71500 413175 4623884 11094766 0 11094766 7929507 71500 413175 484675 7444832 0 7444832 PART III, LINE 4: THE COLLECTIONS AT THE FRICK ARE AT THE CENTER OF THE MUSEUM'S MISSION TO SERVE THE PUBLIC THROUGH PRESERVATION, PRESENTATION AND INTERPRETATION OF FINE AND DECORATIVE ARTS AND HISTORICALLY SIGNIFICANT ARTIFACTS. ENCOMPASSING FINE AND DECORATIVE ARTS, CARRIAGES, CARS, BUILDING AND EPHEMERA RELATED TO THE PITTSBURGH FAMILY LIFE OF GILDED AGE INDUSTRIALIST HENRY CLAY FRICK, THESE COLLECTIONS FORM THE CORE OF WHAT IS NOW DISPLAYED IN THE EXHIBITION VENUES. PART V, LINE 4: THE FRICK'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED OR DESIGNATED PRIMARILY FOR SUPPORT OF THE ORGANIZATION'S MISSION. ITS ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS AND THOSE DESIGNATED BY THE BOARD. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE FRICK TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE BOARD OF THE FRICK HAS ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 (ACT 141) FOR THE DONOR-RESTRICTED ENDOWMENT FUNDS. ACT 141 PERMITS ELECTION OF A TOTAL RETURN POLICY THAT ALLOWS A NONPROFIT TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE MARKET VALUE OF THE ENDOWMENT'S PERMANENTLY RESTRICTED INVESTMENTS AS INCOME EACH YEAR. HOWEVER, THE LONG-TERM PRESERVATION OF THE REAL VALUE OF THE ASSETS MUST BE TAKEN INTO CONSIDERATION WHEN THE BOARD ELECTS THE AMOUNT. THE FRICK HAS ELECTED A POLICY THAT REQUIRES THE CORPUS OF THE PERMANENTLY RESTRICTED NET ASSETS TO BE MAINTAINED, NOTWITHSTANDING INVESTMENT PERFORMANCE TO THE CONTRARY. IN ACCORDANCE WITH ACT 141, THE FRICK HAS ADOPTED A WRITTEN INVESTMENT POLICY, OF WHICH A SECTION SPECIFICALLY RELATES TO THE ENDOWMENT FUND. THE FRICK CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE FOR BOTH THE DONOR-RESTRICTED AND BOARD-DESIGNATED ENDOWMENT FUNDS: 1. PROTECTING THE CORPUS OF THE ENDOWMENT FUND. 2. PRESERVING THE SPENDING POWER OF THE ASSETS. 3. OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION. 4. COMPLYING WITH APPLICABLE LAWS. THE FRICK HAS NOT ADOPTED ACT 141 FOR THE FUNDS THAT ARE BOARD-DESIGNATED FOR ENDOWMENT. THESE FUNDS ARE MONITORED BY THE FINANCE COMMITTEE OF THE BOARD UNDER OPERATION OF THE INVESTMENT POLICY AND DISTRIBUTIONS ARE DETERMINED ON AN ANNUAL BASIS. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE FRICK RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE FRICK TARGETS A DIVERSIFIED ASSET ALLOCATION TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE FINANCE COMMITTEE, WITH COUNSEL FROM INVESTMENTS ADVISERS, ESTABLISHES INVESTMENT POLICY, INCLUDING ASSET ALLOCATION. THE FRICK ANNUALLY TRANSFERS APPROXIMATELY 5% OF THE PREVIOUS 12 QUARTERS' MARKET VALUE AVERAGE OF THE BOARD-DESIGNATED ENDOWMENT FUND TO UNDESIGNATED UNRESTRICTED NET ASSETS FOR USE IN CURRENT AND FUTURE OPERATIONS. THE PERCENTAGE IS APPLIED TO THE 12-QUARTER AVERAGE MARKET VALUE OF THE INVESTMENTS AT DECEMBER 31 OF THE PREVIOUS YEAR. THE DRAW FOR THE YEARS ENDED MARCH 31, 2018 AND 2017 WAS APPROXIMATELY $3,345,000 AND $3,434,000, RESPECTIVELY. THE FRICK BELIEVES THAT THIS SPENDING POLICY IS CONSISTENT WITH THE FRICK'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. THE DRAW FOR FISCAL YEAR ENDING MARCH 31, 2019 IS EXPECTED TO BE APPROXIMATELY $3,345,000. PART X, LINE 2: THE FRICK ACCOUNTS FOR UNCERTAIN TAX POSITIONS ACCORDING TO THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (CODIFICATION) TOPIC INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. AS OF MARCH 31, 2018 AND 2017, NO LIABILITY FOR UNRECOGNIZED TAX BENEFITS WAS REQUIRED TO BE RECORDED. THE FRICK BELIEVES THAT IT IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2015. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 305,257. SPECIAL EVENT EXPENSE 107,918. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 305,257. SPECIAL EVENT EXPENSE 107,918. PART V, ENDOWMENT FUNDS, QUESTION 2, ESTIMATED PERCENTAGE OF THE YEAR END: BOARD DESIGNATED OR QUASI-ENDOWMENT: 99.9572% PERMANENT ENDOWMENT: 0.0428% TEMP ENDOWMENT: 0.0000% UNDRESSED GALA 170410 118963 51447 22284 34513 3200 38693 COLLECTOR'S DINNER 8250 2650 5600 2996 6232 178660 121613 57047 25280 40745 3200 38693 107918 -50871 X X X X 0 0 0 0 0 0 0 0 0 ROBIN NICHOLSON EXECUTIVE DIRECTOR 203463 0 0 0 1116 0 12816 0 37957 0 255352 0 0 0 X 12 180448 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER SHOWN IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS FOR EACH TYPE OF PROPERTY FOR THE YEAR ENDED MARCH 31, 2018. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL AND MAY EXERCISE, DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, ALL OF THE POWERS OF THE BOARD OF TRUSTEES EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE POWER TO AMEND OR REPEAL THESE BYLAWS OR TO ADOPT NEW BYLAWS; TO FILL VACANCIES IN, CHANGE THE NUMBER OF, OR REMOVE MEMBERS OF THE BOARD OF TRUSTEES; OR TO DISSOLVE, REMOVE MEMBERS OR CHANGE THE NUMBER OF, OR FILL VACANCIES IN, THE EXECUTIVE COMMITTEE; OR TO AMEND OR REPEAL ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS TERMS SHALL NOT BE AMENDABLE OR REPEALABLE. ANY ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE RATIFIED BY THE BOARD OF TRUSTEES AT ITS MEETING NEXT FOLLOWING THE ACTION. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING TRUSTEES ARE LINEAL DESCENDANTS OF HENRY CLAY FRICK AND THEREFORE STAND IN A FAMILIAL RELATIONSHIP WITH ONE ANOTHER: ARABELLA DANE, TRUSTEE; EDWARD H. DANE, TRUSTEE; SUZZARA F.C. DUROCHER, TRUSTEE; ALIXINE O'MALLEY HACK, TRUSTEE; VIRGINIA B. HART, TRUSTEE; MARTHA CHACE LORING, TRUSTEE. ARABELLA DANE AND EDWARD H. DANE HAVE A FAMILY RELATIONSHIP OF PARENT/CHILD FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990, 990-T AND REQUIRED SCHEDULES ARE REVIEWED BY THE FRICK ART & HISTORICAL CENTER, INC.'S INTERNAL MANAGEMENT AS WELL AS THE AUDIT COMMITTEE. UPON COMPLETION OF THIS REVIEW, A COMPLETE COPY IS PROVIDED TO THE BOARD OF TRUSTEES IN ADVANCE OF FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, OFFICERS, DIRECTORS AND KEY EMPLOYEES RECEIVE A COPY OF THE FRICK ART & HISTORICAL CENTER, INC.'S CONFLICT OF INTEREST POLICY QUESTIONNAIRE AND DISCLOSURE FORM FOR COMPLETION. THE FORM INCLUDES REQUIREMENTS TO DISCLOSE POTENTIAL CONFLICTS THAT EXIST AT THE DATE OF COMPLETION AS WELL AS THE OBLIGATION BY THE INDIVIDUAL TO INFORM THE ORGANIZATION OF ANY POTENTIAL CONFLICTS THAT MAY ARISE IN THE FUTURE. THE COMPLETED AND SIGNED FORMS ARE REVIEWED BY THE FINANCE DEPARTMENT. ANY ITEMS OF NOTE ARE CALLED TO THE ATTENTION OF THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A COMPARABILITY DATA REGARDING THE EXECUTIVE DIRECTOR'S COMPENSATION PACKAGE IS REVIEWED, AND THE EMPLOYEE'S COMPENSATION IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD, ALL OF WHOSE MEMBERS ARE INDEPENDENT OF ANY CONFLICT. COMPENSATION IS DOCUMENTED IN THE BOARD MINUTES AND A WRITTEN EMPLOYMENT CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE, IN ACCORDANCE WITH STATE LAW, BY CONTACTING THE PA ATTORNEY GENERAL'S OFFICE. FINANCIAL STATEMENTS ARE PUBLISHED IN THE FRICK'S ANNUAL REPORT AND AVAILABLE TO THE PUBLIC THROUGH THE PITTSBURGH GIVES WEBSITE. GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE ALSO ALL AVAILABLE BY REQUEST AT THE FRICK'S OFFICE. FORM 990, PART XI, QUESTION 2C, OVERSIGHT OF FINANCIAL STATEMENT AUDIT: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART VII, EMERITUS TRUSTEES: THE FOLLOWING INDIVIDUALS SERVE AS EMERITUS TRUSTEES OF THE FRICK ART & HISTORICAL CENTER, INC. WITH NO VOTING RIGHTS: DAVID A. BROWNLEE, DANFORTH P. FALES, THOMAS J. GILLESPIE, JR., NANCY WASHINGTON, BETSY WATKINS.