2017-06-22T06:54:02-05:00 2017-03-31 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2016-04-01 251596285 FRICK ART & HISTORICAL CENTER INC FRIC 4123710600 7227 REYNOLDS STREET PITTSBURGH PA 152082919 ROBIN NICHOLSON EXECUTIVE DIRECTOR 4123710600 2017-06-16 1 SUSAN M KIRSCH P00341397 4122613644 208.79.164.82 2017-06-16 08:35:31 ED P 7D18BB02A8A97F1AFE599DA7CB32F00FE1CDD8C0 7D18BB02A8A97F1AFE599DA7CB32F00FE1CDD8C0 2016 2021-01-29 14:40:06Z THE FRICK PITTSBURGH ROBIN NICHOLSON 7227 REYNOLDS STREET PITTSBURGH PA 152082919 23231413 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 27 228 30 -1704 -1704 2655164 2864343 221009 448808 1473710 1664728 470725 511786 4820608 5489665 3000 3000 0 0 2887540 3104950 0 0 261231 2971855 3199452 5862395 6307402 -1041787 -817737 92461863 98162713 2835892 2491067 89625971 95671646 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 2623992 3000 94095 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, 2017, 46,051 PEOPLE PARTICIPATED IN INTERPRETIVE AND EDUCATIONAL PROGRAMS. 1207909 909970 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 FAST CARS AND FEMMES FATALES: THE PHOTOGRAPHS OF JACQUES HENRI LARTIGUE, KILLER HEELS: THE ART OF THE HIGH-HEELED SHOE, THE FRICK COLLECTS: FROM RUBENS TO MONET. TOURS AND INSTALLATIONS AT CLAYTON, INCLUDED: A FAMILY CHRISTMAS. THE CAR AND CARRIAGE MUSEUM DISPLAYED THE MUSEUM'S PERMANENT COLLECTION. 1113853 PRESERVATION - IN ADDITION TO ONGOING PREVENTIVE CONSERVATION AND COLLECTIONS MANAGEMENT, THE FOLLOWING ARE THE MOST SIGNIFICANT CONSERVATION PROJECTS UNDERTAKEN THIS YEAR: CONSERVATION OF THE OIL ON CANVAS PORTRAIT OF IRENE PEACOCK BY RAYMUNDO DE MADRAZO. STABLIZATON OF PORTIERES AT CLAYTON, REPAIRS OF DETERIORATED MASONRY AND WOOD ON CLAYTON'S NORTHWEST FACADE, AND REFINISHING OF CLAYTON'S KITCHEN DOOR. 4945754 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 1 0 0 0 0 0 0 0 1 43 0 1 228 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 NANCY BROMALL BARRY TRUSTEE 2.00 X 0 0 0 CHARLES R BURKE JR 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 MARY JO DIVELY TRUSTEE 2.00 X 0 0 0 SUZZARA FC DUROCHER TRUSTEE 2.00 X 0 0 0 KATE FREED TRUSTEE (ENTERED 09/16) 2.00 X 0 0 0 GENE FREEMAN TRSUTEE (ENTERED 09/16) 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 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 STEVEN M PAVSNER TRUSTEE 2.00 X 0 0 0 WILFORD A PAYNE TRUSTEE (EXITED 07/16) 2.00 X 0 0 0 PAMELA PEELE TRUSTEE 2.00 X 0 0 0 ROBERT SCHUETZ TRUSTEE (ENTERED 09/16) 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 CAROLYN B REED CHAIR 7.50 X X 0 0 0 EDWARD H DANE VICE CHAIR 7.50 X X 0 0 0 JOEL R BERNARD SECRETARY 7.50 X X 0 0 0 MATTHEW J TEPLITZ TREASURER 7.50 X X 0 0 0 ROBIN NICHOLSON - DIR THRU 2/17) EXECUTIVE DIR. (AS OF 3/17) 40.00 X 198431 0 32065 LISA MACIOCE - MGR OF FINANCE (THRU 2/17) CFO (AS OF 3/17) 40.00 X 79474 0 12293 277905 0 44358 1 0 1 0 TURNER CONSTRUCTION CO 1133 PENN AVE SUITE 300 PITTSBURGH PA 15222 CONSTRUCTION 613990 SOS SECURITY COMPANY PO BOX 6373 1915 ROUTE 46 PARSIPPANY NJ 07054 SECURITY 388649 2 354325 100396 165000 2244622 174331 2864343 ADMISSIONS 900099 354714 354714 PROGRAMS 900099 94094 94094 448808 1241955 -2527 1244482 8319 8319 17756148 17333375 422773 422773 422773 50537 100396 102327 -51790 -51790 861303 306046 555257 554434 823 5489665 1003242 -1704 1623784 3000 3000 291581 62557 187320 41704 2072186 1717301 253724 101161 91219 61920 22316 6983 460848 366906 80216 13726 189116 116912 38489 33715 5697 5697 43031 43031 114884 114884 107627 86138 8345 13144 253945 253945 328818 255065 44132 29621 92479 62306 24064 6109 537478 477549 59837 92 54661 17327 37004 330 25001 25001 633822 588665 44832 325 96383 11639 84744 SECURITY 362192 336387 25619 186 EXHIBITION FEES 231014 231014 312420 272122 26163 14135 6307402 4945754 1100417 261231 1029925 293037 502898 1534996 1145241 603204 108599 101385 158391 156583 24075491 8374047 15837900 15701444 65572474 71478296 864965 950778 7241470 7342990 92461863 98162713 785892 441067 2050000 2050000 2835892 2491067 X 88669244 93735568 923627 1902978 33100 33100 89625971 95671646 92461863 98162713 -817737 6863412 0 X X 0 1 X 1 0 X 4357444 7508521 3026149 2655164 2864343 20411621 71500 71500 71500 71500 71500 357500 4428944 7580021 3097649 2726664 2935843 20769121 6607620 14161501 1000863 1073207 1118021 1115659 1252801 5560551 5469 882 484 6835 26336507 4397634 0.53770 0.54280 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7342990 X X X X 0 65622974 8527439 3362336 63843 70724234 72350185 -1959219 4714309 53683 65622974 70836986 4528302 2961466 53637 72350185 65092043 8954468 3140747 68778 70836986 62989369 5392555 3227184 62697 65092043 0.99950 0.00050 0.00000 0 0 111750 111750 22384220 7128690 15255530 27500 27500 1079693 888297 191396 472328 357060 115268 15701444 PERMANENT COLLECTION OF ART AND ARTIFACTS 7342990 7342990 X 12832949 6863412 71500 408372 7343284 5489665 0 5489665 6787274 71500 408372 479872 6307402 0 6307402 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. 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. 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 ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A REASONABLE LEVEL OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO ENHANCE THE PURCHASING POWER OF THE FUND'S CORPUS BY STRIVING FOR LONG-TERM GROWTH. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE ORGANIZATION MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD, AND BOARD-DESIGNATED ENDOWMENT FUNDS. 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, 2017 AND 2016 WAS APPROXIMATELY $3,334,000 AND $3,359,000, 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. 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, 2017 AND 2016, 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 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 306,045. SPECIAL EVENT EXPENSE 102,327. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 306,045. SPECIAL EVENT EXPENSE 102,327. PART V, ENDOWMENT FUNDS, QUESTION 2, ESTIMATED PERCENTAGE OF THE YEAR END: BOARD DESIGNATED OR QUASI-ENDOWMENT: 99.9532% PERMANENT ENDOWMENT: 0.0468% TEMP ENDOWMENT: 0.0000% KILLER HEELS GALA 150933 100396 50537 27983 39783 2700 31861 150933 100396 50537 27983 39783 2700 31861 102327 -51790 X X X X 0 0 0 0 0 0 0 0 0 ROBIN NICHOLSON - DIR THRU 2/17) EXECUTIVE DIR. (AS OF 3/17) 197396 0 0 0 1035 0 0 0 32065 0 230496 0 0 0 X 1 162625 APPRAISAL/FMV X 7 11706 FAIR MARKET VALUE 1 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, 2017. 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; 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. FORM 990, PART VI, SECTION A, QUESTION 1A, DELEGATING AUTHORITY: 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.