2018-05-15T07:31:18-05:00 2017-06-30 135565207 KPMG LLP 1676 INTERNATIONAL DRIVE MCLEAN VA 22102 990 2016-07-01 231365388 Philadelphia Museum of Art PHIL 2157638100 PO Box 7646 Philadelphia PA 191017646 Gail Harrity President & COO 2156847702 2018-05-15 1 JG White P01498698 7032868000 2016 2022-09-23 18:48:47Z Timothy Rub PO Box 7646 Philadelphia PA 191017646 143129684 0 X www.philamuseum.org X 1876 PA To preserve, enhance, interpret, and extend the reach of its collections to a diverse audience. 65 63 689 450 1504006 0 90579026 64938967 7923164 7278266 13390515 7821046 3172536 3183141 115065241 83221420 0 0 0 0 29190526 31222411 190879 164995 5867265 38256967 41548956 67638372 72936362 47426869 10285058 905599958 962537055 83288495 83731012 822311463 878806043 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 16519290 97019 Curatorial activities, including collection care and the acquisition of various art objects. 4883539 716978 Special exhibition program and planning including the presentation of the following exhibitions, Embracing the Contemporary: The Keith L. and Katherine Sachs Collection, Paint the Revolution: Mexican Modernism, 1910-1950, and American Watercolor in the Age of Homer and Sargent. 3907375 374822 Education programs for children, disabled, and general public to provide a better understanding of Museum's collection and art in general. Program attendance - 176,291. 20050872 Protection services and maintenance of facilities 1402895 1578904 Museum shop operating expenses 1846290 Communications and Marketing 1934019 134006 Museum Publications 3905460 5660750 Membership and visitor services 265421 26091 Rights & reproductions and photography 520642 268600 Group sales and special events 2285690 Information & Interpretive Technologies 935235 Library 33146524 7668351 58456728 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 305 0 1 689 1 1 1 0 0 0 0 1 1 0 0 0 0 X 65 63 0 0 0 0 1 1 1 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 Jon Paul Aylmer 2156847802 2525 Pennsylvania Avenue Philadelphia PA 19130 Timothy F Rub Director and CEO 35.00 X X 628288 0 50423 Gail M Harrity President and COO 35.00 X X 382285 0 29977 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 1.00 X 0 0 0 Renee Chenault-Fattah Trustee - term ended 1.00 X 0 0 0 Dr Constance E Clayton Trustee 1.00 X 0 0 0 Peter D Davenport Trustee - term ended 1.00 X 0 0 0 Hon Nelson A Diaz Trustee - term ended 1.00 X 0 0 0 John G Drosdick Trustee 1.00 X 0 0 0 Edward Fernberger Jr Trustee 1.00 X 0 0 0 Jaimie Spector Field Trustee 1.00 X 0 0 0 Penny Fox Trustee - term ended 1.00 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 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 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 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 Trustee 1.00 X 0 0 0 Mark E Rubenstein Trustee 1.00 X 0 0 0 Keith L Sachs 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 Trustee 1.00 X 0 0 0 Dr John T Williams Trustee 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 Michael A Nutter Trustee Ex Officio - term ended 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 Trustee 1.00 X 0 0 0 Pia Roy Chowdhury Trustee 1.00 X 0 0 0 Sueyun Locks Trustee 1.00 X 0 0 0 Dean C Pappas Trustee - term ended 1.00 X 0 0 0 Andrea M Baldeck MD Trustee 1.00 X 0 0 0 Kimberley H Gray Trustee - term ended 1.00 X 0 0 0 Anne F Hamilton Trustee 1.00 X 0 0 0 Larry Magid Trustee - term ended 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 Regina H Pakradooni Trustee Ex Officio - term ended 1.00 X 0 0 0 Dr Jolley B Christman Trustee Ex Officio 1.00 1.00 X 0 0 0 James D Pagliaro Esq Trustee Ex Officio - term ended 1.00 X 0 0 0 Tom Wolf Trustee Ex Officio 1.00 X 0 0 0 Ineke M Dikland Trustee Ex Officio - term ended 1.00 X 0 0 0 Romulo L Diaz Jr Trustee 1.00 X 0 0 0 Amy A Fox Trustee Ex Officio 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 Trustee 1.00 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 1.00 X 0 0 0 Anne Hilton Trustee Ex Officio 1.00 X 0 0 0 John J Soroko John J. Soroko 1.00 X 0 0 0 Robert T Rambo CFO 35.00 1.00 X 288630 0 28977 Jeffrey Blair Secretary and General Counsel 35.00 X 228884 0 13976 Alice Beamesderfer Deputy Director for Collec 35.00 X 170599 0 22774 Ali Shaikholislami Director of Engineering&Fa 35.00 X 184548 0 11384 Jonathan L Peterson Director of Development 35.00 X 277605 0 7551 David Blackman Deputy Director of Develop 35.00 X 225334 0 28328 William Weinstein Director of IIT 35.00 X 159006 0 22332 Jennifer Francis Director of Marketing and 35.00 1.00 X 180234 0 12515 Carlos Basualdo Curator of Contemporary Ar 35.00 X 157449 0 8908 James Cincotta Director of Retail 35.00 X 159273 0 13486 3042135 0 250631 33 0 1 0 Allied Barton Security Services 161 Washington Street Suite 600 Conshohocken PA 19428 Security 5371496 LF Driscoll Co 9 Presidential Boulevard Bala Cynwyd PA 19004 Construction 4549543 Gehry Partners LLP 12541 Beatrice Street Los Angeles CA 90066 Architects 3275592 JPC GROUP INC 1309 HARMONY STREET Philadelphia PA 19146 Construction 2238538 Elliott-Lewis Corporation 2900 Black Lake Place Philadelphia PA 19154 Maintenance 1855199 45 5584431 17016532 42338004 9515096 64938967 Admissions 900099 5383577 5383577 Miscellaneous income 900099 427987 427987 Education programs 611710 374822 374822 Rental of space 900099 239618 239618 Audio Tours 900099 148563 148563 703699 703699 7278266 4157230 1473746 2683484 61854554 58190738 3663816 3663816 3663816 3326690 1717526 1609164 1578904 30260 Parking revenues 900099 1060611 1060611 Concession fees 900099 513366 513366 1573977 83221420 8857170 1504006 7921277 2337554 937285 1096798 303471 22708974 18228779 1672463 2807732 874909 743587 35542 95780 3264701 2736649 197291 330761 2036273 1559146 223500 253627 80004 80004 83208 83208 104173 104173 164995 164995 3040401 3040401 7291903 6727607 404017 160279 1052793 1052793 2338060 1839921 135396 362743 733672 657077 43131 33464 1242890 1185829 36015 21046 575850 440113 93272 42465 61825 37727 10921 13177 670973 434537 196615 39821 8660854 8116086 343836 200932 1090407 357040 732553 814 Acquisitions 4863179 4863179 Special exhibitions 3858651 3858651 Education, library & co 1667610 1667610 Conservation and other 1507130 1507130 2625373 1401809 187406 1036158 72936362 58456728 8612369 5867265 79636239 59195540 91997275 101136486 988904 990076 1900775 1549817 3110025 3580740 410144033 92267632 279980373 317876401 121693027 123292194 315397593 343433597 10895747 11482204 905599958 962537055 18270647 21792015 743837 358828 52136938 49332870 10000000 10000000 2137073 2247299 83288495 83731012 X 317902508 361662521 189838161 198520836 314570794 318622686 822311463 878806043 905599958 962537055 X 10285058 45206373 1003149 X 0 1 X 1 0 X 62753499 74214787 48311592 90579026 64938967 340797871 2900000 3500000 3250000 3000000 3400000 16050000 65653499 77714787 51561592 93579026 68338967 356847871 28643187 328204684 5490000 6138055 5850581 5118974 4157230 26754840 1030249 1030416 1084756 1403710 1573977 6123108 389725819 51333887 0.84210 0.83210 X Schedule A, Part II, Line 10, Explanation of Other Income: Parking revenues - 2012 Amount: $ 714,809. 2013 Amount: $ 674,974. 2014 Amount: $ 710,696. 2015 Amount: $ 1,026,166. 2016 Amount: $ 1,060,611. Concession fees - 2012 Amount: $ 315,440. 2013 Amount: $ 355,442. 2014 Amount: $ 374,060. 2015 Amount: $ 377,544. 2016 Amount: $ 513,366. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 110028 110028 72826334 72936362 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 100102 111862 111180 110028 433172 250000 250000 250000 250000 1000000 1500000 X X X X 0 437090620 6121677 48780666 25267172 466725791 454571342 22948547 -18431776 21997493 437090620 451468293 10890251 13315022 21102224 454571342 382041487 16033508 72934553 19541255 451468293 345353338 8051322 47045120 18408293 382041487 0.18900 0.63390 0.17710 1 0 2983347 2983347 315569986 84751096 230818890 13201350 7516536 5684814 78389350 78389350 317876401 Limited partnerships and other 589589 F US stock funds 47832407 F Global stock funds 31386275 F Global(exUS)developed mkts stock fds 61285057 F Global(exUS)emerging mkts stock fds 30109881 F Hedge funds 88853958 F Private equity & venture capital fds 37360943 F Mortgage backed securities funds 21754807 F Real asset funds 2085329 F Private real estate funds 10445296 F Oil and gas funds 11730055 F 343433597 Obligations under split-interest agreements 2057989 Contractual obligations 189310 2247299 X 131508067 45206373 3400000 2720675 51327048 80181019 3040401 3040401 83221420 75013487 3400000 1717526 5117526 69895961 3040401 3040401 72936362 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, 2017, 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 1,717,526. Change in FMV of interest rate exchange agreements 1,003,149. Part XII, Line 2d - Other Adjustments: Cost of goods sold 1,717,526. Central America And The Caribbean 0 0 Investments 71794327 0 0 0 0 0 0 71794327 0 71794327 1 0 1 1 1 0 X X X X X X 1 Grenzebach Glier & Associates Inc 401 N Michigan Avenue Suite 2800 Chicago IL 60611 Consultant 0 0 62995 -62995 CDR Fundraising Group 16900 Science Drive Suite 210 Bowie MD 20715 Consultant 0 0 102000 -102000 164995 -164995 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 Schedule G, Part I, Line 2b, Column (v) CONSULTING SERVICES X X X X 0 0 0 0 0 0 0 0 0 Timothy F Rub Director and CEO 626308 0 0 0 1980 0 13269 0 37154 0 678711 0 0 0 Gail M Harrity President and COO 378475 0 0 0 3810 0 13269 0 16708 0 412262 0 0 0 Robert T Rambo CFO 282450 0 0 0 6180 0 13269 0 15708 0 317607 0 0 0 Jeffrey Blair Secretary and General Counsel 228630 0 0 0 254 0 0 0 13976 0 242860 0 0 0 Alice Beamesderfer Deputy Director for Collec 167297 0 0 0 3302 0 8862 0 13912 0 193373 0 0 0 Ali Shaikholislami Director of Engineering&Fa 181036 0 0 0 3512 0 6761 0 4623 0 195932 0 0 0 Jonathan L Peterson Director of Development 276915 0 0 0 690 0 0 0 7551 0 285156 0 0 0 David Blackman Deputy Director of Develop 224044 0 0 0 1290 0 11620 0 16708 0 253662 0 0 0 William Weinstein Director of IIT 157979 0 0 0 1027 0 5799 0 16533 0 181338 0 0 0 Jennifer Francis Director of Marketing and 179077 0 0 0 1157 0 6382 0 6133 0 192749 0 0 0 Carlos Basualdo Curator of Contemporary Ar 156932 0 0 0 517 0 7887 0 1021 0 166357 0 0 0 James Cincotta Director of Retail 158740 0 0 0 533 0 6240 0 7246 0 172759 0 0 0 A Philadelphia Authority for Industrial Development 232237287 7178184U9 2010-06-23 66820000 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 17265000 66820000 66820000 2010 1 0 1 1 B 340000 145000 195000 0 0 0 1 A 0 0 0 0 0 0 1 B 0 0 0 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; $340,000 has been drawn to date and expect that all draws will be made within three years of the issue date. X 929 X 104 9515096 Market Value 26 0 0 0 Form 990, Part VI, Section A, line 6 The Members of the Corporation consist of (i) the Elected Trustees, (ii) the Trustees Ex. Officio, (iii) the Honorary Trustees, and (iv) Trustee Emeriti. Form 990, Part VI, Section A, line 7a The Elected Trustee shall be elected by the Members of the Corporation at the annual meeting of the Members of the Corporation. Form 990, Part VI, Section A, line 7b The Bylaws of the Corporation may only be amended by action of the Members for matters which are by statute reserved exclusively to the Members or which are specifically reserved to the Members in the Bylaws themselves. 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 XI, line 9: Change in fair value of interest rate exchange agreement 1,003,149. 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 9 N/A 0 Charitable Remainder Trusts - PA (1) CHARITABLE TRUST PA N/A T 0 Charitable Remainder Trusts - NC (3) CHARITABLE TRUST NC N/A T 0 Charitable Remainder Trusts - NY (1) CHARITABLE TRUST NY N/A T 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 Charitable Remainder Trusts - PA (1) A 109357 FMV Charitable Remainder Trusts - NC (3) A 60406 FMV Charitable Remainder Trusts - NY (1) A 10326 FMV