2018-05-14T11:03:33-07:00 2017-06-30 990 2016-07-01 131624100 MUSEUM OF MODERN ART MUSE 2127089400 11 West 53rd Street New York NY 10019 James Gara Chief Operating Officer 2127089801 2018-05-14 2016 2022-09-23 18:48:47Z Marie Josee-Kravis 11 West 53rd Street New York NY 10019 753662004 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 $214.7 million exceeded operating expenses of $208.7 million by $6 million. 45 42 1219 375 5275176 523759 301824589 293239910 33958321 31645059 39278851 98503829 33346671 31041650 408408432 454430448 964000 690897 0 0 96400548 103718563 100000 0 13118918 151550325 148283233 249014873 252692693 159393559 201737755 1824084535 2169405025 410202403 483211542 1413882132 1686193483 X See schedule O 0 0 135155203 690897 57227677 Museum Operations - Curatorial and curatorial support departments include conservation, education, exhibitions, digital media, 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 2017, almost 4 million children, students, and adults, of all abilities, were served by the Education Department: 2.6 million onsite visitors who accessed free interpretative resources including labels and audio guides (offered in nine languages) to support their learning in the galleries; over 1.4 million who used online educational resources; and nearly 150,000 who participated in programs. The Museum continues to make enhancements that facilitate digital access for visitors using their own devices in the Museum, including ongoing improvements to the wifi network and the addition of more charging stations within the recently opened espresso bar. MoMA's online following continues to flourish, reaching an extensive global audience. The Museum's 2016-17 special exhibition schedule showcased a broad range of modern and contemporary art, performance and film. Noteworthy exhibitions , among others, were on view during FY 2017: Francis Picabia: Our Heads Are Round so Our Thoughts Can Change Direction,Kai Althoff: and then leave me to the common swifts, Robert Rauschenberg,Tony Oursler: Imponderable,Nan Goldin: The Ballad of Sexual Dependency,From the Collection: 1960-1969,Louise Lawler: WHY PICTURES NOW?,Making Faces: Images of Exploitation and Empowerment in Cinema,The Shape of Things: Photographs from Robert B. Menschel,One and One Is Four: The Bauhaus Photocollages of Josef Albers, A Revolutionary Impulse: The Rise of the Russian Avant-Garde, and Frank Lloyd Wright at 150: Unpacking the Archive 25179393 0 27383359 In FY 2017, over 1,500 works were added to this collection, both by donation and by purchase, including the acquisition of several major collections by the Museum. In October 2016 MoMA announced the previously mentioned major gift from the Colección Patricia Phelps de Cisneros, which will add more than 100 works of modern art by major artists from Latin America to the Museum's collection. Also during FY 2017 the Museum acquired 42 additional works from the Thomas Walther Collection, strengthening MoMA's collection of European (and particularly Bauhaus-era) photographs from the years between the First and Second World Wars. A third major collection acquisition by the Museum during FY 2017 was a selection of 44 works from the UBS Art Collection, which focuses on American and European artists of the 1960s, 1970s, and 1980s. Other major acquisitions during FY 2017 include 29 drawings and watercolors by Thomas Schutte from the 1980s, adding to MoMA's significant collection of the artist's sculptures and prints; László Moholy-Nagy's 1923 EM 1(Telephone Picture), reuniting this work with EM 2 and EM 3, the remaining two works from this set, which have been in MoMA's collection since 1971; Ian Cheng's monumental media work Emissaries, a series of live simulations created with the help of a video game engine and recently shown at MoMA PS1; Bruce Nauman's 2016 Contrapposto Studies I Through VII, a seven-channel video work recalling the artist's breakthrough video work from the 1960s; and Visages Villages, a 2017 film by Belgian-born filmmaker Agnes Varda and young French muralist and street photographer JR comprising the Film Department's first acquisition of a work before its completion and public premiere, pioneering a new strategy for acquiring major new works of film while supporting avant-garde directors. 35571549 0 0 Security, operations, and maintenance of exhibition galleries and art collection. 0 0 0 195906145 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 1 0 1 1 1 0 0 0 1 1 1 0 0 1 743 0 1 1219 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 45 42 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT FL GA HI IL KS KY MA MD ME MI MN MS NC ND 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 David Rockefeller thru March 2017 Honorary Chairman/Life Trustee 0.5 0 X X 0 0 0 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 1 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 Alexandra A Herzan Trustee thru February, 2017 1 0 X 0 0 0 Ronnie Heyman Trustee 1 0 X 0 0 0 AC Hudgins Trustee 1 0 X 0 0 0 Jill Kraus Trustee 1 0 X 0 0 0 Thomas H Lee Trustee through July, 2016 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 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 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 as of June 2017 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 1 0 X 0 0 0 Wallis Annenberg Life Trustee 0.5 0 X 0 0 0 Sid R Bass Life Trustee 1 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 1253354 0 989888 James Gara Chief Operating Officer/Assistant Treasurer 40 0 X 817328 0 503046 Patty Lipshutz General Counsel/Secretary 40 0 X 431094 0 184050 Frank Ahimaz Chief Investment Officer 40 0 X 860619 0 605005 Kathy Halbreich Associate Director 40 0 X 485541 0 78569 Todd Bishop Senior Deputy Director of External Affairs 40 0 X 438718 0 160038 Peter Reed Senior Deputy Director for Curatorial Affairs 40 0 X 386616 0 152050 Ramona Bannayan Senior Deputy Director for Exhibitions 40 0 X 334793 0 69308 Jan Postma Chief Financial Officer 40 0 X 336692 0 62716 Ann Temkin Chief Curator - Painting and Sculpture 40 0 X 347142 0 78581 Klaus Biesenbach Chief Curator at Large 0 40 X 0 504527 38221 Tunji Adeniji Director of Facilities and Security 40 0 X 275805 0 35588 Rajendra Roy Chief Curator - Film 40 0 X 312039 0 54870 Christophe Cherix Chief Curator - Prints & Illustrated Books 40 0 X 341727 0 64057 Quentin Bajac Chief Curator - Photography 40 0 X 287378 0 28471 Stuart Comer Chief Curator-Media & Performance Art 40 0 X 260982 0 18966 Martino Stierli Chief Curator-Arch. and Design 40 0 X 241175 0 31274 Anthony Wai Director of Investments 40 0 X 433948 0 308973 Thomas Randon General Mgr - Retail 40 0 X 336064 0 116064 Jean Savinsky Dir. Real Estate Expansion 40 0 X 410448 0 91821 Christopher Hudson Publisher 40 0 X 344015 0 91383 Emmanuel Platt Director, Merchandising 40 0 X 347426 0 49391 9282904 504527 3812330 182 0 1 0 Diller Scofidio and Renfro 601 West 26 Street New York NY 10001 Architect 5329430 Proskaur Rose LLP Eleven Time Square New York NY 10036 Legal Services 509398 Advanced Contracting Services LLC 1 Just Road Fairfield NJ 07004 Renovation 392556 Steamgard LLC 730 Forest Edge Drive Vernon Hills IL 60061 Engineering 346000 PricewaterhouseCoopers PO Box 7247-8001 Philadelphia PA 19170 Audit 342746 15 0 2980178 8712450 0 0 281547282 20166604 293239910 Admissions 712100 27103162 27103162 0 0 Exhibition Tour Income 712100 3412274 3412274 0 0 1129623 1129623 0 0 31645059 16204801 0 1036921 15167880 0 0 0 0 67601 0 0 67601 1502305 0 278373 0 1223932 0 1223932 0 0 1223932 323165000 27383359 268249331 0 54915669 27383359 82299028 27383359 0 54915669 427800 8284650 1529487 -1101687 0 -1101687 0 0 0 0 0 0 56339775 29174365 27165410 23269066 3896344 0 Museum Restaurants 722310 1030931 0 0 1030931 Corporate Events 900099 2655463 2313552 341911 0 0 0 0 0 3686394 454430448 84611036 5275176 71304326 690897 690897 0 0 0 0 0 0 10576181 3210260 6856443 509478 0 0 0 0 62984083 52173084 6682767 4128232 12192384 9179616 2244082 768686 12987517 9778270 2390431 818816 4978398 3748224 916304 313870 0 0 0 0 727903 0 727903 0 406128 406128 60000 0 60000 0 0 0 9162421 0 9162421 0 17954123 12450201 2960144 2543778 5611438 3961551 0 1649887 14114154 12229664 1147983 736507 989749 0 989749 0 111094 111094 0 0 15944796 11909716 2961709 1073371 3253560 2914777 273924 64859 0 0 0 0 19002671 19002671 0 0 0 0 0 0 27057296 21669956 5200650 186690 2066224 1991878 49564 24782 Acquisition of works of art 25179393 25179393 0 0 Membership Dues and Subscriptions 581043 432645 141861 6537 Administrative and Other Expenses 6061240 5272248 495567 293425 252692693 195906145 43667630 13118918 10475508 19335139 141460950 192832417 280050261 389730953 4994855 8317000 0 0 0 0 0 0 13830505 13195321 12346824 10945637 913246132 365738425 487117203 547507707 546639594 622782699 291713615 330562774 0 0 0 0 35455220 34195378 1824084535 2169405025 61927568 59627209 0 0 7346633 2246000 244606291 323940672 0 0 7345413 9366471 0 0 18000000 17800000 70976498 70231190 410202403 483211542 X 661282112 678533738 472211028 664947753 280388992 342711992 1413882132 1686193483 1824084535 2169405025 X 201737755 64045403 0 0 0 6528193 X 0 1 X 1 0 X 88978253 123940602 135284742 301824589 293352283 943380469 0 0 0 0 0 0 0 0 0 0 0 0 88978253 123940602 135284742 301824589 293352283 943380469 4237544 939142925 15630866 16484359 13641465 15184334 17428734 78369758 0 1735350 789462 999201 524759 4048772 4259230 4399438 4287220 4199138 2678785 19823811 1045622810 38795790 0.89817 0.87892 X Schedule A, Part II, Line 10 Other income includes gross income from fundraising and corporate events and ancillary revenue from the restaurant operations. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 60000 60000 252632692 252692692 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 60000 60000 50000 60000 230000 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X X X 0 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 438939000 37247000 30123000 0 46618000 0 459691000 0.029 0.33 0.641 0 0 0 91352129 91352129 0 541993346 281660757 260332589 0 8131000 4515211 3615789 0 86448657 79562457 6886200 0 185321000 0 185321000 547507707 89000 F 0 Credit 105499971 F Multi-strat & other 62542773 F Event Driven 28473725 F Private Equity 120101729 F Real Assets 13855576 F 330562774 0 Pension and post retirement benefits 70231190 70231190 548340348 64045405 0 0 5999348 70044753 478295595 13124563 -36989710 -23865147 454430448 277674522 0 0 0 9600542 9600542 268073980 13124563 -28505850 -15381287 252692693 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, reserve, 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 170 individual funds established for a variety of purposes, including art acquisitions, exhibitions, publications, educational and operating support. 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. Schedule D, Part XI, Line 4b Primarily consists of cost of goods sold on retail operations ($29,174,365), amounts related to traveling exhibitions $856,118, related organizations which file a separate return ($8,647,099). Schedule D, Part XII, Line 2d Primarily related to organizations which file a separate return $10,129,378 and change in swap valuation ($528,838). Schedule D, Part XII, Line 4b Primarily consists of cost of goods sold on retail operations ($29,174,365), amounts related to traveling exhibitions $856,118, expenses related to rental ($278,373). Central America and the Caribbean 0 0 Investments 115872482 Europe (including Iceland and Greenland) 0 0 Investments 50404821 North America (including Canada and Mexico, but not the United States) 0 0 Investments 7368180 Middle East and North Africa 0 0 Investments 836644 East Asia and the Pacific 0 0 Investments 506426 0 0 174988553 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 4143600 3961680 181920 0 0 43524 226326 172275 695899 DR Luncheon 2918450 2866450 52000 0 0 1678 50115 16648 69328 2 1650400 1456520 193880 0 0 54516 64749 24564 109865 8712450 8284650 427800 0 0 99718 341190 213487 875092 1529487 -1101687 1 PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 501c(3) 690897 0 Operating Support 1 0 Schedule I, Part I, Line 2 The Museum is 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, but not limited to, 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 0 1 0 0 0 0 0 1 0 Glenn D Lowry Director/Ex-Officio Trustee 844196 0 393382 0 15776 0 633695 0 356193 0 2243242 0 0 0 James Gara Chief Operating Officer/Assistant Treasurer 496556 0 300000 0 20772 0 467403 0 35643 0 1320374 0 300000 0 Patty Lipshutz General Counsel/Secretary 410322 0 0 0 20772 0 145857 0 38193 0 615144 0 0 0 Frank Ahimaz Chief Investment Officer 604153 0 237500 0 18966 0 580665 0 24340 0 1465624 0 237500 0 Kathy Halbreich Associate Director 460207 0 0 0 25334 0 57205 0 21364 0 564110 0 0 0 Todd Bishop Senior Deputy Director of External Affairs 369774 0 50000 0 18944 0 130350 0 29688 0 598756 0 50000 0 Peter Reed Senior Deputy Director for Curatorial Affairs 383950 0 0 0 2666 0 120963 0 31087 0 538666 0 0 0 Ramona Bannayan Senior Deputy Director for Exhibitions 315297 0 0 0 19496 0 32259 0 37049 0 404101 0 0 0 Jan Postma Chief Financial Officer 336338 0 0 0 354 0 18603 0 44113 0 399408 0 0 0 Ann Temkin Chief Curator - Painting and Sculpture 327596 0 0 0 19546 0 48893 0 29688 0 425723 0 0 0 Tunji Adeniji Director of Facilities and Security 256623 0 0 0 19182 0 15900 0 19688 0 311393 0 0 0 Rajendra Roy Chief Curator - Film 311720 0 0 0 319 0 23693 0 31177 0 366909 0 0 0 Christophe Cherix Chief Curator - Prints & Illustrated Books 334388 0 0 0 7339 0 29666 0 34391 0 405784 0 0 0 Quentin Bajac Chief Curator - Photography 286710 0 0 0 668 0 0 0 28471 0 315849 0 0 0 Stuart Comer Chief Curator-Media & Performance Art 260596 0 0 0 386 0 0 0 18966 0 279948 0 0 0 Martino Stierli Chief Curator-Arch. and Design 222973 0 0 0 18202 0 11970 0 19304 0 272449 0 0 0 Anthony Wai Director of Investments 332693 0 100000 0 1255 0 282054 0 26919 0 742921 0 100000 0 Klaus Biesenbach Chief Curator at Large 0 503285 0 0 0 1242 0 30000 0 8221 0 542748 0 Jean Savinsky Dir. Real Estate Expansion 359572 0 50000 0 876 0 65900 0 25921 0 502269 0 50000 0 Thomas Randon General Mgr - Retail 317716 0 0 0 18348 0 95900 0 20164 0 452128 0 0 0 Christopher Hudson Publisher 320505 0 0 0 23510 0 66542 0 24841 0 435398 0 0 0 Emmanuel Platt Director, Merchandising 334632 0 0 0 12794 0 15000 0 34391 0 396817 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 $520,261, for a multi-year supplemental employee retirement plan. Schedule J, Part I, Line 7 Glenn Lowry- Director, full-time employee, officer and ex-officio trustee. In 2017 Glenn Lowry earned $844,196 in base compensation as well as (ii) an annual bonus of $393,382 included in column B. These numbers compare to $820,069 and $381,924 in 2016. Commencing with Fiscal Year 2014 and included in colum C, is an accrual of $560,261 for a multi-year supplemental employee retirement plan. The cumulative accrual through June 30, 2017 for Fiscal Years 2014 through 2017 is $2,241,044. 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 achievement by Mr. Gara of certain service and performance requirement in areas such as in operations and investment. Patty Lipshutz - General Counsel and Secretary, full-time employee and officer but not a trustee. Frank Ahimaz - 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 2016 and is included in compensation. Anthony Wai - Director of Investments, full-time employee but not trustee. Eligible for retention and annual bonus based on achievement of performance measures. An annual performance bonus was paid in 2016 and is included in compensation. Todd Bishop - Senior Deputy Director - External Affairs. Full-time employee but not Trustee. Included in column (B)(ii) is a performance bonus. A portion of the performance bonus plan was paid in 2016 and is included in compensation. The plan was subject to the achievement of service and performance requirements. 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 330779877 0 0 169651868 1723748 0 0 100855790 7141734 51406737 2018 0 1 0 1 A 0 1 0 0 0 0 0 0 1 A 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 earnings on bond proceeds. Schedule K, Part I, Column f-08/02/2016 330,117,210 The Trust for Cultural Resources of 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 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 112600 see comment 0 Deluxe Media Services LLC Trustee 81838 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. Deluxe Media LLC is a company which a trustee, Ronald Perelman, owns a controlling interest. MoMA has used restoration and preservation services from this company in the normal course of business. X 539 0 not applicable X 64 20166664 settlement 27 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 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 45 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 & Sculptures, Architecture & Design, Film, Photographs, Media & Performance Art) and a number of curatorial support departments. The curatorial support departments include collection care, collection exhibition technology, 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 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. 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 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. In addition, these Trustees also have direct and indirect interests together in entities that own real estate investment properties around the world. There are instances in which Trustees may have extensive financial interests in a broad range of companies which may do business with the Museum or from time to time engage in business transactions with key employees or other members of the Board of Trustees. A reasonable attempt is made to identify business relationships between those entities and individuals and the Museum to the extent that they become known. 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 comparability 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. 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 participation, 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 September, 2017. 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 periodic benefit costs $5,999,350 and changes in valuation of interest rate swap $528,843. 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 AFE LLC 11 West 53rd Street New York NY 10019 202379359 Real Estate NY N/A Related -278263 3737644 0 1 1 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 690897 cost method PS1 Contemporary Art Center Inc d 2000000 fair market value PS1 Contemporary Art Center Inc l 728932 cost method MoMA Auxiliaries p 2925690 cost method Modern and Contemporary Art Support Corp q 189902 cost method The International Council of The Museum of Modern Art c 1323695 fair market value The International Council of The Museum of Modern Art o 402753 cost method The International Council of The Museum of Modern Art q 21361 cost method The International Council of The Museum of Modern Art r 350032 fair market value The International Council of The Museum of Modern Art s 52098 fair market value 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 to invest and manage the Councils endowment funds. The amounts transferred for investment and spending from these endowments are reflected in Part V.