2018-07-03T08:16:05-05:00 2017-09-30 141918990 TEMPLETON & COMPANY LLP 222 LAKEVIEW AVENUE SUITE 1200 WEST PALM BEACH FL 33401 990 2016-10-01 590624432 NORTON MUSEUM OF ART INC NORT 5618325196 1451 S OLIVE AVENUE WEST PALM BEACH FL 33401 JOHN SAFRANEK CHIEF FINANCIAL OFFICER 5618325196 2018-07-02 1 JOHN R TEMPLETON P01957752 5617989988 2016 2022-09-23 18:48:47Z JOHN SAFRANEK 1451 S OLIVE AVENUE WEST PALM BEACH FL 33401 18497712 0 X WWW.NORTON.ORG X 1941 FL SEE SCHEDULE O FOR ORGANIZATION'S MISSION. 33 32 120 139 0 0 18084381 14259373 624233 207790 2308213 2825492 1298051 756832 22314878 18049487 0 0 0 0 5024952 4640136 0 0 1379160 8017377 8475036 13042329 13115172 9272549 4934315 159244696 161299904 32960716 42927568 126283980 118372336 X FOUNDED IN 1941 BY RALPH AND ELIZABETH NORTON, THE NORTON MUSEUM OF ART COLLECTS, PRESERVES, EXHIBITS AND INTERPRETS OUTSTANDING ART FOR THE BENEFIT OF A BROAD AUDIENCE. THE MUSEUM IS COMMITTED TO CREATING EXHIBITIONS, PURSUING SCHOLARSHIP, AND PRODUCING INNOVATIVE EDUCATIONAL PROGRAMS TO INSPIRE AND OFFER A DEEPER UNDERSTANDING OF THE VISUAL ARTS. 0 0 2670826 146016 EXHIBITIONS:DURING FY17, THE NORTON MUSEUM OF ART WAS IN A REDUCED FOOTPRINT DUE TO THE SPECTACULAR BUILDING PROJECT UNDERWAY AND PLANNED REOPENING IN FEBRUARY 2019. DETERMINED TO STAY OPEN AND BE ACTIVE, THE NORTON MUSEUM OF ART PRESENTED 11 EXHIBITIONS OF WHICH 9 WERE ORGANIZED BY NORTON CURATORS AND FOCUSED ON PAINTING, SCULPTURE, PHOTOGRAPHY AND VIDEO, AS WELL AS WORKS ON PAPER, COMPLEMENTING ALL OF THE NORTON'S FIVE CURATORIAL DEPARTMENTS. SPECIAL EXHIBITIONS OF ART INCLUDED THE PREMIER OF AUSTRIAN ARTIST SVENJA DEININGER'S ABSTRACT PAINTINGS, WHICH WAS IN THE SIXTH PROJECT IN THE RECOGNITION OF ART BY WOMEN SERIES, AND THE PREMIER OF JUSTIN GUARIGLIA'S PHOTO-BASED IMAGES OF THE EARTH'S VULNERABLE SHORES AND LANDS IN "EARTH WORKS: MAPPING THE ANTHROPOCENE." PHOTOGRAPHY WAS ALSO CENTER STAGE IN THE BIENNIAL EXHIBITION "THE RUDIN PRIZE FOR EMERGING PHOTOGRAPHERS". AN UNUSUAL NARRATIVE VIDEO WAS FEATURED IN "YEUNDOO JUNG: BEHIND THE SCENES"ANOTHER PREMIER OF THIS KOREAN ARTIST'S WORK FOR THIS AREA OF THE COUNTRY.OUR SPOTLIGHT PROJECTS ANIMATED A SMALL GALLERY TO ENGAGE OUR AUDIENCE. WE CONTINUED TO ACKNOWLEDGE THE DIVERSITY OF OUR COMMUNITY AND PRESENTED QUESTION BRIDGE: BLACK MALES, A SEQUENCE OF VIDEO QUESTIONS AND RESPONSES FROM DIFFERENT GENERATIONS ACROSS AMERICA IN AN ARTWORK THAT ALSO ENCOURAGED SERIOUS COMMUNITY DISCUSSIONS. WE ALSO FEATURED RECENT ACQUISITIONS DURING BLACK HISTORY MONTH INCLUDING NEWLY ACQUIRED WORK IN ALL MEDIA. OTHER SPOTLIGHT PROJECTS INCLUDED THE LOAN OF A MAGNIFICENT WILLIAM MERRITT CHASE PAINTING TO ACKNOWLEDGE 100 YEARS SINCE HIS DEATH, SPENCER FINCH'S PRINTS AND DRAWINGS, JULIE MEHRETU'S REMARKABLE 6 PANEL PRINT EPIGRAPH, DAMASCUS, A SELECTION OF FRENCH PHOTOGRAPHY AND THE SMITHSONIAN'S PEN TO PAPER: ARTISTS' HANDWRITTEN LETTERS. 3374209 1003857 ACQUISITIONS AND CONSERVATION: IN FY17 THE NORTON ACQUIRED OVER 130 ARTWORKS IN ALL MEDIA, FROM GIFT AND PURCHASE, ENHANCING THE COLLECTION IN EVERY AREA. MANY GIFTS HAVE BEEN ACCEPTED IN ANTICIPATION OF THE OPENING OF THE NEW NORTON, BENEFITTING OF EXCEPTIONAL ARCHITECTURE AND THE COMPELLING ARGUMENT THAT DONATED ART WILL BE ON VIEW HERE COMPARED TO GIFTS TO LARGER NORTHERN INSTITUTIONS. AMONG THE OUTSTANDING GIFTS WERE 8 CONTEMPORARY PAINTINGS AND SCULPTURE INCLUDING DAHN VO'S COPPER SCULPTURE "WE THE PEOPLE", A JOEL SHAPIRO AND TONY OURSLER VIDEO SCULPTURE. PHOTOGRAPHY RECEIVED A HAUNTING GREGORY CREWDSON AND EARLY ADAM FUSS. AMERICAN RECEIVED A DOROTHY DEHNER DRAWING FROM THE ARTIST'S ESTATE AND CHINESE ART RECEIVED TWO EXCEPTIONAL TEAPOTS OF DIFFERENT DYNASTIES. PURCHASES INCLUDED AN ABSTRACT HELEN TORR CANVAS TO COMPLEMENT ARTHUR DOVE'S WORK, AN EXQUISITE 12TH C. TEA BOW AND FOUR RARE PAINTINGS, A SPECTACULAR OLAFUR ELIASOON COMPRISING HUNDREDS OF GLASS ORBS, AND NUMEROUS HISTORICAL PHOTOS TO ENHANCE OUR ABILITY TO REPRESENT THIS MEDIUM. CONSERVATION INCLUDED THE CONSISTENT MAINTENANCE OF ALL OUTDOOR SCULPTURES INCLUDING THE CLEANING AND REPLACEMENT OF SURFACE COATING OF TWO PAUL MANSHIP AND TWO JOEL SHAPIRO PIECES, CREATED IN BRONZE AND INTEGRAL TO THE NORTON MUSEUM'S EXTERIOR DESIGN. SPECIAL EXAMINATIONS BY PAINTING AND PAPER CONSERVATORS WERE MADE OF OUR GIORGIO DI CHIRICO CANVAS, DRAGON TILES OF THE 16TH C. MING DYNASTY, AND TWO COMPLICATED MULTI PANEL CHINESE PIECES, ONE IN VELVET AND ANOTHER REMARKABLE PAINTING DEPICTING A HIGHLY DETAILED MING LANTERN FESTIVAL. 1866401 102038 EDUCATION:IN FY 17, THE NORTON MUSEUM OF ART EDUCATION DEPARTMENT SERVED 21,821 MEMBERS AND VISITORS, APPROXIMATELY 35% OF THE TOTAL MUSEUM AUDIENCE. MUSEUM DOCENTS LED MORE THAN 9,171 ADULTS AND CHILDREN ON TOURS - APPROXIMATELY 1 OUT OF EVERY 6 VISITORS. 605 CHILDREN PARTICIPATED IN THE AFTERSCHOOL ARTS OUTREACH PROGRAM THROUGHOUT THE YEAR; ON AVERAGE, THESE CHILDREN HAD 8.5 CLASSES WITH THE MUSEUM'S TEACHING ARTISTS AT AFTERSCHOOL SITES AND ALTERNATIVE SCHOOL SITES FOR TEENS AROUND THE COUNTY. A YEAR-LONG EVALUATION SHOWED THAT CHILDREN AND TEENS BELIEVE THAT THE AFTERSCHOOL ARTS OUTREACH PROGRAM HELPS THEM " FEEL BETTER ABOUT THEMSELVES, TALK TO ADULTS AND TEACHERS, WORK COOPERATIVELY WITH PEERS AND BE PROUD OF THEIR ARTWORK." THE PRESIDENT'S COMMITTEE ON THE ARTS AND THE HUMANITIES NAMED THE NORTON MUSEUM'S AFTERSCHOOL ARTS OUTREACH (AAO) AS A 2017 FINALIST FOR THE NATIONAL ARTS AND HUMANITIES YOUTH PROGRAM AWARD. SCHOOL TOUR ATTENDANCE DIPPED TO 3,000 DUE TO TOUR LIMITS WHILE THE MUSEUM IS UNDER CONSTRUCTION, HOWEVER WE LAUNCHED FOUR NEW PUBLIC SCHOOL PARTNERSHIPS IN SEPTEMBER 2017 AND A TEEN ADVISORY SQUAD (TASQ) PILOT PROGRAM LAUNCHED IN JUNE. FIFTEEN DYNAMIC YOUNG PEOPLE FROM NINE HIGH SCHOOLS WORKED WITH STAFF THROUGH THE SUMMER AND CREATED AN INTRODUCTORY VIDEO FOR SCHOOL FIELD TRIPS. THE MUSEUM'S FIRST COLLEGE COMMITTEE MET IN THE SPRING, SERVING AS A PILOT PROGRAM FOR LOCAL STUDENTS WITH AN INTEREST IN THE MUSEUM PROFESSION. THE POPULARITY OF ART AFTER DARK CONTINUED FOR ADULT AUDIENCES, DRAWING 8,502 VISITORS OVER THE FISCAL YEAR - THE SAME PERCENTAGE OF TOTAL AUDIENCE AS FOR FY16. THE THIRD ANNUAL CHINESE NEW YEAR FESTIVAL ATTRACTED 900 PARTICIPANTS AND A NEW FAMILY FESTIVAL CELEBRATING FRENCH ART AND CULTURE ON BASTILLE DAY DREW 750 PARTICIPANTS. EXHIBITION-RELATED LECTURES, PANELS AND GALLERY DISCUSSIONS ATTRACTED 5,924 ADULT PARTICIPANTS. 7911436 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 115 0 1 120 1 0 0 0 0 0 1 1 0 0 0 0 X 33 32 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 FL X X JOHN SAFRANEK 5618325196 1451 S OLIVE AVENUE WEST PALM BEACH FL 33401 HARRY HOWELL CHAIR 6.00 X X 0 0 0 BRUCE GENDELMAN 1ST VICE CHAIR 4.00 X X 0 0 0 JOHN NIBLACK 2ND VICE CHAIR 4.00 X X 0 0 0 JANE CARROLL SECRETARY 4.00 X X 0 0 0 JOEY PEARSON DIRECTOR 2.00 X 0 0 0 DICK BAROVICK DIRECTOR 2.00 X 0 0 0 RUTH BAUM DIRECTOR 2.00 X 0 0 0 PAMELA GOERGEN DIRECTOR 2.00 X 0 0 0 NICKI HARRIS DIRECTOR 2.00 X 0 0 0 KEMP STICKNEY DIRECTOR 2.00 X 0 0 0 DR HENRY KAUFMAN DIRECTOR 2.00 X 0 0 0 JANE KORMAN DIRECTOR 2.00 X 0 0 0 GILBERT C MAURER DIRECTOR 2.00 X 0 0 0 CARLOS MORRISON DIRECTOR 2.00 X 0 0 0 RALPH SALTZMAN DIRECTOR 2.00 X 0 0 0 JEAN SHARF DIRECTOR 2.00 X 0 0 0 ANNE SMITH DIRECTOR 2.00 X 0 0 0 DEBBIE STAPLETON DIRECTOR 2.00 X 0 0 0 HOWARD COX DIRECTOR 2.00 X 0 0 0 PHIL H GEIER JR DIRECTOR 2.00 X 0 0 0 RONNIE HEYMAN DIRECTOR 2.00 X 0 0 0 MICHELLE JACOBS DIRECTOR 2.00 X 0 0 0 IRENE KARP DIRECTOR 2.00 X 0 0 0 ARTHUR MARTINEZ DIRECTOR 2.00 X 0 0 0 BOB STILLER DIRECTOR 2.00 X 0 0 0 SIMONE VICKAR DIRECTOR 2.00 X 0 0 0 LARRY SOSNOW DIRECTOR 2.00 X 0 0 0 RANDI BITOVE DIRECTOR 2.00 X 0 0 0 WLLYONS BROWN JR DIRECTOR 2.00 X 0 0 0 PETER CUMMINGS DIRECTOR 2.00 X 0 0 0 GAIL ENGELBERG DIRECTOR 2.00 X 0 0 0 THOMAS S JOHNSON DIRECTOR 2.00 X 0 0 0 ANNE REYES DIRECTOR 2.00 X 0 0 0 THOMAS A SAUNDERS III DIRECTOR 2.00 X 0 0 0 ROBBI TOLL DIRECTOR 2.00 X 0 0 0 HOPE ALSWANG EXECUTIVE DIRECTOR, CEO 40.00 X X 308159 0 56425 JOHN SAFRANEK CFO 40.00 X 184666 0 6574 JOHN BACKMAN DIRECTOR NEW NORTON 40.00 X 170981 0 0 CRAIG STEELE MANAGER NEW NORTON 40.00 X 165952 0 0 JAMES HALL DEPUTY DIRECTOR 40.00 X 132214 0 0 CHERYL BRUTVAN DIRECTOR OF CURATORIAL AFF 40.00 X 123494 0 0 CAROLINE ASHLEY DIRECTOR OF DEVELOPMENT 40.00 X 118947 0 0 1204413 0 62999 7 0 1 0 GILBANE BUILDING COMPANY 661 UNIVERSITY BLVD 107 JUPITER FL 33458 CONSTRUCTION SERVICES 21000695 CBTCHILDS BERTMAN TSECKARES INC 110 CANAL STREET BOSTON MA 02114 CONSTRUCTION SERVICES 1121084 FOSTER & PARTNERS LIMITED 22 HESTER RD LONDON UK SW11 4AN ARCHITECT SERVICES 1005096 TRANE US INC 800 BEATY ST BUILDING E DAVIDSON NC 28036 CONSTRUCTION SERVICES 386233 CANAM STEEL CORPORATION 400 CLAY STREET PO BOX 285 POINT OF ROCKS MD 217770285 CONSTRUCTION SERVICES 364543 5 X 1501508 294775 12463090 1669947 14259373 PROGRAM REVENUE 611610 205870 205870 ADMISSIONS 713990 1920 1920 207790 1821635 1821635 28038 0 28038 28038 28038 1003857 0 1003857 1003857 1003857 1136755 448225 688530 688530 OTHER INCOME 900099 40264 40264 40264 18049487 1251911 0 2538203 498779 300462 198317 3508841 1973546 711495 823800 346736 210564 95768 40404 285780 171860 82257 31663 526682 526682 654852 273926 290452 90474 90676 1500 89176 113610 12707 64405 36498 778271 623847 115915 38509 173833 100968 48980 23885 781584 781584 1569453 1271257 219723 78473 426924 101189 325735 ACQUISITION OF ART 1952767 1952767 PROGRAM EXPENSES 632810 331666 212425 88719 EXHIBITS 220028 220028 PRINTING AND GRAPHIC DE 209417 107351 46079 55987 344129 257798 15583 70748 13115172 7911436 3824576 1379160 6864 2300 5796022 2582912 33401185 25526118 35283 404 320049 289068 57261776 2185674 48818835 55076102 51297482 57151715 17067085 17965387 2501891 2705898 159244696 161299904 2622205 4824551 838511 942018 29500000 36950000 0 210999 32960716 42927568 X 51920210 48441604 37782466 31448125 36581304 38482607 126283980 118372336 159244696 161299904 X 4934315 6890401 -19736360 X X 0 1 X 1 0 X 4310218 32324938 19097238 18084381 14259373 88076148 455074 489505 556814 624233 207790 2333416 4765292 32814443 19654052 18708614 14467163 90409564 0 0 0 90409564 976488 1798160 1921402 2029347 2451605 9177002 976488 1798160 1921402 2029347 2451605 9177002 133948 92061 75698 161528 40264 503499 5875728 34704664 21651152 20899489 16959032 100090065 0.90330 0.90940 0.09170 0.08430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 5000 5000 0 PART II-B, LINE 1: THE ORGANIZATION RETAINED A FIRM TO LOBBY THE FLORIDA LEGISLATURE TO INCLUDE A $1,000,000 CAPITAL ALLOCATION FOR THE NORTON MUSEUM OF ART IN THE STATE'S BUDGET. THE CONTRACT ENDED ON OCTOBER 31, 2016. X X X X 0 36581304 1003000 1779733 881430 38482607 35282756 825712 720086 247250 36581304 35984437 615500 1317181 35282756 34957545 69325 957567 35984437 32569857 1776275 867866 -256453 34957545 0 0 8257651 8257651 7805559 2185674 5619885 596877 596877 40601689 40601689 55076102 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 17965387 F 17965387 OBLIGATIONS UNDER CAPITAL LEASE 210999 210999 X 6891474 6890401 -17521732 -10631331 17522805 526682 526682 18049487 14803118 2214628 2214628 12588490 526682 526682 13115172 PART III, LINE 1A: THE NORTON HAS ELECTED TO EXCLUDE THE VALUE OF OBJECTS IN THE PERMANENT COLLECTION FROM THE STATEMENT OF FINANCIAL POSITION, AS PERMITTED BY SFAS NO. 116. AN ADDITION OF ART TO THE PERMANENT COLLECTION IS MADE EITHER BY GIFT OR THROUGH PURCHASE USING ART ACQUISITION FUNDS. THE ACCEPTANCE AND DISPOSAL OR REMOVAL OF WORKS OF ART IN THE COLLECTION IS PERFORMED IN ACCORDANCE WITH A FORMAL POLICY ADOPTED BY THE BOARD OF TRUSTEES IN 2003. PURCHASES FOR THE COLLECTION ARE RECORDED AS EXPENDITURES FOR THE ACQUISITION OF ART OBJECTS IN THE STATEMENT OF ACTIVITIES FOR THE YEAR IN WHICH THE OBJECTS ARE ACQUIRED. PART III, LINE 4: RALPH AND ELIZABETH NORTON ESTABLISHED THE NORTON MUSEUM OF ART AS THE NORTON GALLERY AND SCHOOL OF ART IN 1941. IT WAS FOUNDED ON THE BASIS OF THEIR PRIVATE COLLECTION, WHICH WAS COMPRISED OF A HANDFUL OF OLD MASTER PAINTINGS AND FAR MORE EXTENSIVE HOLDINGS OF FRENCH AND AMERICAN PAINTING, SCULPTURE, AND WORKS ON PAPER, MOST MADE AFTER 1870. BEFORE HIS DEATH IN 1953, NORTON EXPANDED THE COLLECTION TO INCLUDE CHINESE ART, SUCH AS ANCIENT BRONZES AND JADES, CERAMICS, FURNITURE, AND TEXTILES. HIS BEQUEST ADDED MANY MORE WORKS IN EACH OF THESE CATEGORIES TO THE COLLECTION. IN SUBSEQUENT DECADES, ACQUISITIONS FROM ALL SOURCES HAVE ENRICHED THE ORIGINAL COLLECTING AREAS OF EUROPEAN, AMERICAN, AND CHINESE ART IN TERMS OF BREADTH AND DEPTH WHILE CONFORMING TO THE HIGH QUALITATIVE STANDARDS ESTABLISHED BY THE NORTONS. TODAY, THE COLLECTION NUMBERS APPROXIMATELY 7,000 OBJECTS. AMONG THE MOST SOUGHT-AFTER WORKS FOR LOANS TO EXHIBITIONS BOTH HERE AND ABROAD ARE MONET'S "GARDENS OF VILLA MORENO," GAUGUIN'S "CHRIST IN THE GARDEN OF OLIVES," POLLOCK'S "NIGHT MIST, AND OUR THREE O'KEEFFE PAINTINGS. THE NORTON MUSEUM OF ART STRIVES TO PRESERVE, DEVELOP, EXHIBIT AND INTERPRET ITS OUTSTANDING COLLECTION AND TO EDUCATE THE PUBLIC THROUGH SPECIAL EXHIBITIONS, PUBLICATIONS AND PROGRAMS. AS A RECOGNIZED LEADER IN THE ARTS IN THE YEARS SINCE ITS FOUNDING, THE NORTON MUSEUM OF ART BRINGS A SIGNIFICANT CULTURAL AND EDUCATIONAL PRESENCE TO THE STATE OF FLORIDA AND REACHES NATIONALLY AND INTERNATIONALLY THROUGH ITS PROGRAMMING AND VISITORS, LOANS OF WORKS OF ART, AND TRAVELING EXHIBITIONS. A PRINCIPAL STRENGTH OF THE NORTON LIES IN ITS PERMANENT COLLECTION SINCE THE QUALITY, DEPTH AND BREADTH OF ITS HOLDINGS ARE USED AS THE BASIS FOR EXHIBITIONS, EDUCATIONAL PROGRAMS AND SCHOLARSHIP. FOR EXAMPLE, SCHOOL AND SUMMER CAMP TOURS INTRODUCE APPROXIMATELY 10,000 K-12 STUDENTS TO WORKS IN THE MUSEUM'S COLLECTION EACH YEAR. NINE MUSEUM COLLECTION THEME TOURS AND FIVE SPECIAL EXHIBITION TOURS ARE AVAILABLE FOR TEACHERS TO CHOOSE FROM, FREE OF CHARGE, ON TOPICS RANGING FROM MEDIEVAL AND RENAISSANCE TREASURES TO THE ART OF SCIENCE AND AFRICAN AMERICAN ART AND CULTURE. THE NORTON COLLECTION IS ALSO THE FOCUS OF EDUCATIONAL PROGRAMS FOR ADULTS. CONCERTS AND PERFORMANCES RELATE TO SPECIAL EXHIBITIONS AND CULTURAL THEMES REPRESENTED BY WORKS IN THE GALLERIES. TOURS, AND TREASURE OF THE MONTH TALKS ALLOW VISITORS TO ENGAGE WITH DOCENTS AND STAFF IN THE GALLERIES IN INFORMAL DISCUSSIONS OF SUBJECTS IN ART AND WORKS ON VIEW. A CLOSER LOOK PROVIDES PUBLIC ACCESS TO LECTURES FOR DOCENT CANDIDATES CONCERNING SPECIFIC WORKS IN THE MUSEUM COLLECTION AND THE HISTORICAL CONTEXTS AND CIRCUMSTANCES OF THEIR ORIGIN. PART V, LINE 4: THE NORTON'S ENDOWMENT IS ESTABLISHED FOR THE PURPOSES EXPRESSED IN THE MISSION OF THE NORTON. PART X, LINE 2: THE NORTON IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3). ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECORDED IN THE FINANCIAL STATEMENTS. THE NORTON IS REQUIRED TO OPERATE IN CONFORMITY WITH THE PROVISIONS OF THE INTERNAL REVENUE CODE TO MAINTAIN ITS EXEMPT STATUS. UNDER THE PROVISIONS OF FASB ASC 740, UNCERTAINTY IN INCOME TAXES, MANAGEMENT ANALYZES TAX POSITIONS IN JURISDICTIONS WHERE IT IS REQUIRED TO FILE INCOME TAX RETURNS. INTEREST AND PENALTIES ATTRIBUTABLE TO INCOME TAXES, IF ANY, ARE INCLUDED IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECORDED FOR THE YEARS ENDED SEPTEMBER 30, 2017 AND 2016. THE NORTON IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO SEPTEMBER 30, 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 448,225. LOSS ON DEMOLITION AND DISPOSAL OF PROPERTY AND EQUIPMENT -17,969,957. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 448,225. ADJUSTMENT FOR TERMINATED PROMISES TO GIVE 1,766,403. GALA 894100 894100 264650 BIJOUX! 240655 240655 72887 2 2000 2000 110688 1136755 1136755 448225 448225 688530 X 0 0 X X 0 1 0 0 0 0 0 0 0 HOPE ALSWANG EXECUTIVE DIRECTOR, CEO 308159 0 0 0 0 0 50000 0 6425 0 364584 0 0 0 JOHN SAFRANEK CFO 184666 0 0 0 0 0 0 0 6574 0 191240 0 0 0 JOHN BACKMAN DIRECTOR NEW NORTON 170981 0 0 0 0 0 0 0 0 0 170981 0 0 0 CRAIG STEELE MANAGER NEW NORTON 165952 0 0 0 0 0 0 0 0 0 165952 0 0 0 PART I, LINE 1B THE NORTON MUSEUM OF ART'S DIRECTOR, HOPE ALSWANG, LIVES IN ONE OF THE HOUSES OWNED BY THE MUSEUM. THE HOME GIVES THE DIRECTOR A PLACE TO HOST SMALL, INTIMATE GATHERINGS OF DONORS AND OTHER GUESTS FOR FUNDRAISING AND OTHER PURPOSES RELATED TO THE NORTON'S MISSION. X 6 1669947 MARKET VALUE 0 1 1 PART I, LINE 32B: THE NORTON MUSEUM OF ART UTILIZES THIRD PARTY BROKERS TO SELL SECURITIES THAT IT HAS RECEIVED AS NONCASH CONTRIBUTIONS. PART I, LINE 33: THE NORTON HAS ELECTED NOT TO ASSIGN A FINANCIAL VALUE TO GIFTS OF ART TO BE HELD IN THE COLLECTIONS FOR PURPOSES RELATED TO ITS MISSION, OR FOR WHICH THE PROCEEDS FROM ANY SALE WILL BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS, AS ALLOWED BY SFAS 116. FORM 990, PART I, LINE 1: FOUNDED IN 1941 BY RALPH AND ELIZABETH NORTON, THE NORTON MUSEUM OF ART COLLECTS, PRESERVES, EXHIBITS AND INTERPRETS OUTSTANDING ART FOR THE BENEFIT OF A BROAD AUDIENCE. THE MUSEUM IS COMMITTED TO CREATING EXHIBITIONS, PURSUING SCHOLARSHIP, AND PRODUCING INNOVATIVE EDUCATIONAL PROGRAMS TO INSPIRE AND OFFER A DEEPER UNDERSTANDING OF THE VISUAL ARTS. FORM 990, PART VI, SECTION A, LINE 7A DIRECTORS OF THE GOVERNING BOARD APPOINT NEW DIRECTORS TO THE GOVERNING BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE CONDUCTS A THOROUGH REVIEW OF THE FINAL DRAFT BEFORE IT GOES TO THE FULL BOARD OF TRUSTEES. THE FINAL DRAFT IS THEN PROVIDED TO THE ENTIRE BOARD OF TRUSTEES PRIOR TO FILING FOR THEIR REVIEW AND CONCURRENCE. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD IS PROVIDED WITH A CONFLICT OF INTEREST QUESTIONNAIRE WHICH IS USED BY THE ORGANIZATION TO DETERMINE IF THERE ARE ANY CONFLICTS BETWEEN THE BOARD AND THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15A IN JULY 2017, THE CEO SIGNED A NEW EMPLOYMENT CONTRACT. AS PART OF THIS PROCESS, THE CHAIRMAN OF THE BOARD REVIEWED THE CEO'S PERFORMANCE, ANALYZED COMPARABLE SALARY DATA OF SIMILAR POSITIONS IN OTHER ORGANIZATIONS, AND THEN MET WITH THE EXECUTIVE COMMITTEE TO EVALUATE THE DATA COLLECTED AND DECIDE ON COMPENSATION FOR THE PERIOD COVERED BY THE EMPLOYMENT CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION RETAINS ALL REQUIRED PUBLIC INSPECTION DOCUMENTS AT ITS CORPORATE OFFICE. SHOULD THE PUBLIC REQUEST TO REVIEW ANY OF THE DOCUMENTS, THE ORGANIZATION HAS THEM READILY AVAILABLE FOR INSPECTION. FORM 990, PART VIII, LINE 1F: THE NORTON MUSEUM OF ART BEGAN A CAPITAL CAMPAIGN IN FISCAL YEAR 2014 TO RAISE FUNDS FOR AN EXPANSION AND RENOVATION OF THE EXISTING MUSEUM. OVER $68,000,000 HAS BEEN RAISED FOR THIS PURPOSE THROUGH FISCAL YEAR 2017. FORM 990, PART XI, LINE 9: ADJUSTMENT FOR TERMINATED PROMISES TO GIVE -1,766,403. DEMOLITION AND DISPOSAL OF PROPERTY AND EQUIPMENT FOR NORTON EXPANSION -17,969,957. FORM 990, PART XII, LINE 2C: THE POLICY FOR THE OVERSIGHT COMMITTEE HAS NOT CHANGED DURING THE YEAR. FORM 990, PART XI, LINE 9, OTHER CHANGES IN NET ASSETS: NORTON IS UNDERGOING AN EXPANSION AND RENOVATION CONSTRUCTION PROJECT WITH BUDGETED COSTS OF APPROXIMATELY $90,000,000. IN CONNECTION WITH THE DEMOLITION OF ITS FORMER FACILITIES DURING THE YEAR ENDED SEPTEMBER 30, 2017, NORTON EXPENSED THE REMAINING BOOK VALUE OF PROPERTY AND EQUIPMENT THAT WAS DEMOLISHED IN THE AMOUNT OF $17,969,957.