2017-02-09T12:25:25-06:00 2016-06-30 201776739 JPMS COX PLLC 11300 CANTRELL ROAD SUITE 301 LITTLE ROCK AR 72212 990 2015-07-01 237337495 ARKANSAS ARTS CENTER FOUNDATION ARKA 5013724000 PO BOX 2137 LITTLE ROCK AR 72203 TODD HERMAN DIRECTOR 5013724000 2017-02-08 1 MARY ELLEN IRONS P00626271 5012275800 2017-02-08 2015 2021-01-29 14:40:06Z TODD HERMAN PO BOX 2137 LITTLE ROCK AR 72203 6910041 0 X N/A X 1972 AR THE ARKANSAS ARTS CENTER FOUNDATION WAS CREATED BY THE ARKANSAS ARTS CENTER IN 1972 TO MANAGE AND ADMINISTER AN ENDOWMENT FUND FOR THE BENEFIT OF THE CENTER AND TO HOLD LEGAL TITLE TO THE COLLECTION OF ART OBJECTS. 11 11 0 15 -830 -830 2186480 1858380 0 0 1641235 1786435 10175 5289 3837890 3650104 2825806 3047972 0 0 381421 382074 0 0 0 847134 1245372 4054361 4675418 -216471 -1025314 34418114 30975587 2663794 2660863 31754320 28314724 THE ARKANSAS ARTS CENTER FOUNDATION WAS CREATED BY THE ARKANSAS ARTS CENTER IN 1972 TO MANAGE AND ADMINISTER AN ENDOWMENT FUND FOR THE BENEFIT OF THE CENTER AND TO HOLD LEGAL TITLE TO THE COLLECTION OF ART OBJECTS. 0 0 4675418 3047972 THE ARKANSAS ARTS CENTER FOUNDATION'S MISSION IS TO SUPPORT THE OPERATION OF AND TO PROVIDE A STABLE SOURCE OF INCOME TO THE ARKANSAS ARTS CENTER. 4675418 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 X 11 11 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 1 0 AR X X LAINE HARBER ARKANSAS ARTS CENTER FOUNDATION 5013724000 PO BOX 2137 LITTLE ROCK AR 72203 WARREN STEPHENS DIRECTOR 0.30 X 0 0 0 GEORGE O'CONNOR TREASURER 0.30 X X 0 0 0 TODD HERMAN SECRETARY 0.30 X X 0 168096 0 JAMES DYKE DIRECTOR 0.30 X 0 0 0 BEN HUSSMAN VICE - CHAIRMAN 0.30 X X 0 0 0 CLAIBORNE DEMING DIRECTOR 0.30 X 0 0 0 ROBERT TUCKER CHAIRMAN 0.30 X X 0 0 0 JOHN ED ANTHONY DIRECTOR 0.30 X 0 0 0 MARY ELLEN IRONS DIRECTOR 0.03 X 0 0 0 TERRI ERWIN DIRECTOR 0.30 X 0 0 0 MIKE MAYTON DIRECTOR 0.30 X 0 0 0 0 168096 0 0 0 1 0 COMMITTEE FOR ARTS AND HISTORY PO BOX 2445 LITTLE ROCK AR 72203 LOBBYING 220000 STEPHENS INC 111 CENTER STREET LITTLE ROCK AR 72201 INVESTMENT SERVICES 150000 2 1858380 1858380 995444 995444 4050928 3259937 790991 790991 790991 CASH SURRENDER VALUE LIFE INSURAN 519100 5039 5039 PASSTHROUGH INCOME 211110 250 -830 1080 5289 3650104 0 -830 1792554 3047972 3047972 382074 382074 32000 32000 150000 150000 413874 413874 53195 53195 LOBBYING 220000 220000 MISCELLANEOUS 144520 144520 CONTRACT EXPENSE 101940 101940 STRATEGIC PLANNING 100019 100019 29824 29824 4675418 4675418 0 0 2204 37054 604118 1069947 497714 245420 13527712 8083623 5857963 5444089 26649014 23405018 807101 774059 34418114 30975587 1659728 1704857 1004066 956006 2663794 2660863 X 23510425 20241409 5300167 5186848 2943728 2886467 31754320 28314724 34418114 30975587 X -1025314 -2125872 -288410 X 0 1 X 1 0 X 4854926 7873346 1368000 2186480 1858380 18141132 4854926 7873346 1368000 2186480 1858380 18141132 9080568 9060564 480540 475786 815347 948458 989528 3709659 4308 4479 4675 4875 5039 23376 21874167 0.41420 0.38800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 220000 0 0 0 220000 0 PART II-B, LINE 1: THE FOUNDATION PAID $220,000 TO THE COMMITTEE FOR ARTS AND HISTORY, PO BOX 2445, LITTLE ROCK, AR 72203. THE COMMITTEE FOR ARTS AND HISTORY IS A GROUP ADVOCATING TO VOTE FOR A BOND ISSUE TO IMPROVE THE ARKANSAS ARTS CENTER, MACARTHUR MILITARY MUSEUM, AND MACARTHUR PARK. X X X X 0 27729320 1887141 506248 4820789 24289424 29003968 2186480 826806 4287934 27729320 27636427 1368000 3833249 3833708 29003968 23790636 4873346 2035211 3062766 27636427 24690937 4854926 659976 6415203 23790636 0.83340 0.11880 0.04780 0 0 518892 518892 0 11982182 6538093 5444089 1026638 1026638 0 5444089 U.S. GOVERNMENT OBLIGATIONS 4187154 F MUTUAL FUNDS 10429853 F CORPORATE OBLIGATIONS 255800 F EQUITIES 8532211 F 23405018 OTHER LIABILITIES 956006 956006 X 1381192 -2125872 -2988 -2128860 3510052 140052 140052 3650104 4820789 285423 285423 4535366 140052 140052 4675418 PART III, LINE 1A: THE FOUNDATION'S PERMANENT COLLECTION INCLUDES ART OBJECTS HELD FOR EDUCATIONAL AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE COLLECTIONS, WHICH HAVE BEEN ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE FOUNDATION'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. NET ASSETS THAT ARE TEMPORARILY RESTRICTED FOR THE ACQUISITION OF ART OBJECTS ARE RELEASED FROM RESTRICTION WHEN USED TO PURCHASE ITEMS FOR THE PERMANENT COLLECTION. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE RECORDED AS INCREASES IN UNRESTRICTED NET ASSETS; HOWEVER, THE COLLECTIONS ARE SUBJECT TO A BOARD POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. PART X, LINE 2: THE FOUNDATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A) OF THE CODE. ACCOUNTING STANDARDS REQUIRE THE FOUNDATION TO EVALUATE TAX POSITIONS AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE FOUNDATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE FOUNDATION HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF JUNE 30, 2016 AND 2015, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE FOUNDATION MAY BE SUBJECT TO AUDIT BY THE INTERNAL REVENUE SERVICE; HOWEVER THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. AS OF JUNE 30, 2016, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: OTH REVENUE ON BOOKS NOT INCL 990 -2,988. PART XI, LINE 4B - OTHER ADJUSTMENTS: PASSTHROUGH INVESTMENT INCOME NETTED WITH EXPENSES -26,299. CAPITAL GAIN ADJUSTMENT FOR PTP BASIS 161,351. REVENUE NETTED WITH EXPENSE IN FINANCIAL STATEMENTS 5,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTH EXPS ON BOOKS NOT INCL 990 285,423. PART XII, LINE 4B - OTHER ADJUSTMENTS: PASSTHROUGH INVESTMENT INCOME NETTED WITH EXPENSES -26,299. CAPITAL GAIN ADJUSTMENT FOR PTP BASIS 161,351. REVENUE NETTED WITH EXPENSE IN FINANCIAL STATEMENTS 5,000. 0 ARKANSAS ARTS CENTER PO BOX 2137 LITTLE ROCK AR 72203 710332820 115 3047972 0 FMV N/A THE MISSION OF THE FOUNDATION IS TO SUPPORT THIS ENTITY. 1 0 0 0 0 0 0 0 0 0 TODD HERMAN SECRETARY 0 168096 0 0 0 0 0 0 0 0 0 168096 0 0 WARREN STEPHENS DIRECTOR OF AACF AND OWNERSHIP INTEREST IN STEPHENS INC. 150000 AACF PAID STEPHENS INC FOR INVESTMENT MANAGEMENT FEES. 0 X 157 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 ROBERT TUCKER, CHAIRMAN OF THE BOARD, WORKS AT STEPHENS INC FOR WARREN STEPHENS, A DIRECTOR OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 MARY ELLEN IRONS, DIRECTOR AND SERVES AS PRESIDENT ON THE AAC BOARD. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THE FORM 990 WILL BE REVIEWED BY THE INVESTMENT COMMITTEE AND DISCUSSED AMONGST THE ENTIRE BOARD. FORM 990, PART VI, SECTION B, LINE 12C REGULAR BOARD MEETINGS AND DISCLOSURE WITHIN MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST, THE INFORMATION WILL BE MADE AVAILABLE. FORM 990, PART XI, LINE 9: ACQUISITIONS OF WORKS OF ART -285,423. INTEREST INCREASE IN PERPETUAL TRUST -2,987. ARKANSAS ARTS CENTER PO BOX 2137 LITTLE ROCK AR 72203 710332820 MUSEUM AR 115 GOVERMENT ENTITY 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 1 ARKANSAS ARTS CENTER FOUNDATION GRANTS FUNDS TO THE ARTS B 3047972 COST CENTER ARKANSAS ARTS CENTER FOUNDATION DOES NOT HAVE ANY EMPLOYEES M ALL THE SERVICES PERFORMED FOR THE FOUNDATION ARE PERFORMED BY THE ARTS CENTER EMPLOYEES ARKANSAS ARTS CENTER FOUNDATION DOES NOT HAVE ANY EMPLOYEES N OR A FACILITY IT UTILIZES THE FACILITIES OF THE ARTS CENTER TO CONDUCT ITS OPERATIONS ARKANSAS ARTS CENTER FOUNDATION DOES NOT HAVE ANY EMPLOYEES O ALL THE SERVICES PERFORMED FOR THE FOUNDATION ARE PERFORMED BY THE ARTS CENTER EMPLOYEES