2017-06-05T07:43:59-05:00 2017-01-31 010523282 Berry Dunn McNeil & Parker LLC PO Box 1100 Portland ME 041041100 990 2016-02-01 010378420 Portland Museum of Art PORT 2077756148 7 Congress Square Portland ME 04101 Jeffrey D Kane President 2077756148 2017-05-26 1 Joseph R Byrne CPA P01289281 2077752387 2017-05-25 69.49.157.66 2017-05-26 10:32:50 ED P 4A7A9222C8D681BBCE9F1B6E7BF5E3969F273E7D 195DD2390B87809A4F2C1BC02D65E16960466FA1 2016 2021-01-29 14:40:06Z Mark HC Bessire 7 Congress Square Portland ME 04101 25097930 0 X www.portlandmuseum.org X 1882 ME Museum/Educational 36 36 120 137 11492 0 5081075 10053638 725121 685834 100545 304243 -124126 -55814 5782615 10987901 0 0 0 0 3285822 3535830 0 0 1398098 3733727 3023532 7019549 6559362 -1236934 4428539 46995275 54234572 1093225 1198038 45902050 53036534 The Portland Museum of Art strives to engage audiences in a dialogue about the relevance of art and culture to our everyday lives and is committed to the stewardship and growth of the collection. 0 0 904288 163463 Educational Programs: Create outstanding educational programs and collection-based activities to inspire and enrich the lives of diverse audiences and serve as a vital cultural center for the city and region (40,831 participants in 2016). 3395596 522371 Exhibitions and Collections: Originate outstanding exhibitions from PMA's permanent collection and through borrowed works of art. Present traveling exhibitions that support and extend PMA's mission. Preserve, document, and interpret eighteen-thousand objects in the collection and five architectural landmarks (142,624 visitors in 2016). 111522 Collection Items Purchased: 31 works of art were purchased for PMA's collection in 2016, providing new opportunities for visitors and the community to experience original work. 4411406 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 X 34 0 1 120 1 1 0 0 0 0 1 1 1 1 0 0 0 0 X 36 36 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 ME X Elena Henry 2077756148 7 Congress Square Portland ME 04101 Jeffrey D Kane President 3.00 X X 0 0 0 Amy H Woodhouse Vice President 3.00 X X 0 0 0 Anna H Wells Chair 3.00 X X 0 0 0 William J Ryan Jr Treasurer 3.00 X X 0 0 0 John F Isacke Secretary 3.00 X X 0 0 0 Katherine MB Berger Trustee 3.00 X 0 0 0 Kenneth A Blaschke Trustee 3.00 X 0 0 0 Jacqueline D Bucar Trustee 3.00 X 0 0 0 Nathan J Clark Trustee 3.00 X 0 0 0 Melanie Stewart Cutler MD Trustee 3.00 X 0 0 0 William H Davisson Trustee 3.00 X 0 0 0 Alexander D Fisher Trustee 3.00 X 0 0 0 Joseph R Foley Trustee 3.00 X 0 0 0 Eileen T Gillespie Trustee 3.00 X 0 0 0 Walter B Goldfarb MD Trustee 3.00 X 0 0 0 Robert R Gould Trustee 3.00 X 0 0 0 Cyrus Y Hagge Trustee 3.00 X 0 0 0 Jocelyn R Handy Trustee 3.00 X 0 0 0 William D Hamill Trustee 3.00 X 0 0 0 James A Houle Trustee 3.00 X 0 0 0 Nancy K Kaye Trustee 3.00 X 0 0 0 Robert D Kump Trustee 3.00 X 0 0 0 Bree A LaCasse Trustee 3.00 X 0 0 0 Judy Glickman Lauder Trustee 3.00 X 0 0 0 Leeann M Leahy Trustee 3.00 X 0 0 0 Elizabeth T McCandless Trustee 3.00 X 0 0 0 John P Moore Trustee 3.00 X 0 0 0 Robert S Nanovic Trustee 3.00 X 0 0 0 Hilary G Robbins Trustee 3.00 X 0 0 0 Christopher N Robinson Trustee 3.00 X 0 0 0 Laurence H Rubinstein Trustee 3.00 X 0 0 0 Stewart Strawbridge Trustee 3.00 X 0 0 0 Heather Veitch Trustee 3.00 X 0 0 0 John H Wallace Trustee 3.00 X 0 0 0 William B Williams Trustee 3.00 X 0 0 0 William B Williamson Trustee 3.00 X 0 0 0 Scott M Black Past Trustee 3.00 X 0 0 0 Beth L De Tine Past Trustee 3.00 X 0 0 0 Harry W Konkel Past Trustee 3.00 X 0 0 0 Samuel A Ladd III Past Trustee 3.00 X 0 0 0 James L Moody Jr Past Trustee 3.00 X 0 0 0 Leonard M Nelson Past Trustee 3.00 X 0 0 0 Leslie B Otten Past Trustee 3.00 X 0 0 0 Hans Underdahl Past Trustee 3.00 X 0 0 0 Mark H C Bessire Director 40.00 X 262740 0 24853 Elena Henry Deputy Director and CFO 40.00 X 152353 0 14738 Elizabeth Cartland Director of Development 40.00 X 100042 0 7115 515135 0 46706 3 0 1 0 Wright-Ryan Construction Inc 10 Danforth Street Portland ME 04101 Construction 172023 NEPC LLC 255 State Street Boston MA 02109 Investment Advisory Services 139912 Klimt Studio Inc co Sandra M Klimt 34 Marys Lane Centerport NY 11721 Catalogue Production 103262 3 645278 9408360 1898693 10053638 Admissions 713990 522371 522371 Program Revenues 713990 163463 163463 685834 119580 11492 108088 46540 9273 37267 37267 37267 13758987 13574324 184663 184663 184663 433351 526432 -93081 -93081 10987901 685834 11492 236937 454684 86278 253369 115037 2587643 1789075 145126 653442 26249 18532 2923 4794 219555 162877 2680 53998 247699 164841 25408 57450 12624 12624 31619 31619 187936 187936 67095 61769 307 5019 199658 135744 63914 107491 61576 19005 26910 249072 206678 10081 32313 417938 360125 4185 53628 58962 35860 4455 18647 23713 7474 14517 1722 28279 1853 26426 492177 464376 5663 22138 100829 95423 3534 1872 Exhibition & Collection 551274 551274 Fundraising 287214 287214 Acquisition of Art 111522 111522 Education 96129 96129 6559362 4411406 749858 1398098 X 199217 177541 584873 4683912 1077647 1144378 49032 101325 149994 180143 196163 384340 33327088 14197745 18906236 19129343 14984967 14843919 9200020 12410643 1647126 1179028 46995275 54234572 473682 648741 619543 549297 1093225 1198038 X 19208630 21381335 3000682 1746437 23692738 29908762 45902050 53036534 46995275 54234572 4428539 2705945 0 X 0 1 X 1 0 X 4565459 2765487 5653631 5081075 10053638 28119290 4565459 2765487 5653631 5081075 10053638 28119290 6217929 21901361 582919 617638 552588 287063 166120 2206328 30325618 6475385 0.72220 0.79750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 24744613 5881159 2822252 1514808 31933216 27629060 485520 -1435611 1934356 24744613 27743488 565318 1622552 2302298 27629060 26917982 545166 2211823 1931483 27743488 25225358 938212 2341165 1586753 26917982 0.07560 0.91380 0.01060 0 0 8640747 8640747 23845123 13607609 10237514 841218 590136 251082 19129343 Investments in Limited Partnerships 496091 F Limited Liability and Other Closely Held Companies 11914552 F 12410643 14007075 2705945 12000 526432 3244377 10762698 187936 37267 225203 10987901 6872591 12000 526432 538432 6334159 187936 37267 225203 6559362 Part III, Line 1a: The art collection is reflected in the plant fund at a nominal value. The cost of a collection item is recorded as a decrease in net assets when purchased. The proceeds from the sale of a collection item are recorded as an increase in net assets when sold. The collection is managed according to a policy which adheres to the standards of the American Association of Museums. The policy delineates responsibilities in such matters as museum ethics, acquisitions, loans, care of collections, and deaccessioning. Objects held in the collection are carefully tracked and monitored. PMA's deaccessioning policy allows for sale or trade of an object only when it is incompatible with PMA's collecting mission and when clear and complete title to the work is confirmed. Proceeds from the sale of an object may only be applied toward collection acquisitions. Part III, Line 4: PMA's collection is comprised of more than 18,000 objects, representing fine and decorative arts from the 18th century to the present. These holdings include paintings, sculpture, prints, photographs, glass, ceramics, furniture, silver, artists' books and other media. Works by George Bellows, Sir Anthony Caro, Frederic Church, Stuart Davis, John Haberle, William Harnett, Marsden Hartley, Childe Hassam, Winslow Homer, Edward Hopper, Rockwell Kent, Fitz-Henry Lane, Thomas Moran, Louise Nevelson, John Frederick Peto, Maurice Prendergast, John Singer Sargent, and Andrew Wyeth, among others, showcase the unique artistic heritage of the United States and the creative culture of Maine. European traditions are represented by works from the hand of Max Beckmann, Marc Chagall, Gustave Courbet, Edgar Degas, Jean-Auguste-Dominique Ingres, Claude Monet, Henry Matisse, and Pierre-Auguste Renoir. The PMA is accredited by the American Association of Museums and adheres to best practices in developing and managing these works of art in the public trust. Part V, Line 4: PMA's intended use of endowment funds is for general operations, education, maintenance of collection and buildings, acquisition of art for the collection, wages, and other related expenses. Part XI, Line 2d - Other Adjustments: PMA Store Expenses 526,432. Part XI, Line 4b - Other Adjustments: Net Rental Income 37,267. Part XII, Line 2d - Other Adjustments: PMA Store Expenses 526,432. Part XII, Line 4b - Other Adjustments: Net Rental Income 37,267. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Mark H C Bessire Director 262740 0 0 0 0 0 4300 0 20553 0 287593 0 0 0 Elena Henry Deputy Director and CFO 152353 0 0 0 0 0 4681 0 10057 0 167091 0 0 0 Part I, Line 1a PMA paid $1,824 for a membership fee and dues to Portland's Cumberland Club, for Mark H.C. Bessire, Director. The Cumberland Club is adjacent to the Portland Museum of Art, and membership allows the Director to host meetings for the purpose of conducting museum business. X 49 0 X 39 1898693 Stock Market Value 5 0 1 1 Part I, Line 32b: Contributions of securities are sold through PMA's investment broker. All gifts of securities are sold as soon as administratively possible. Part I, Line 33: The art collection is reflected in the plant fund at a nominal value. The cost of a collection item is recorded as a decrease in net assets when purchased. The proceeds from the sale of a collection item are recorded as an increase in net assets when sold. The collection is managed according to a policy which adheres to the standards of the American Association of Museums. The policy delineates responsibilities in such matters as museum ethics, acquisitions, loans, care of collections, and deaccessioning. Objects held in the collection are carefully tracked and monitored. PMA's deaccessioning policy allows for sale or trade of an object only when it is incompatible with PMA's collecting mission and when clear and complete title to the work is confirmed. Proceeds from the sale of an object may only be applied toward collection acquisitions. Form 990, Part V, line 3b The Organization is waiting on Schedule K-1s from investment partnerships in order to complete Form 990-T. The Organization will file Form 990-T once this information has been received. Form 990, Part VI, Section B, line 11b The Form 990 is distributed to the full board of trustees with sufficient time for each trustee to review it. The 990 is then discussed at a full meeting of the board of trustees, before the board votes to accept the 990. Form 990, Part VI, Section B, line 12c Trustees are asked to fill out a Conflict of Interest form annually. The procedure is outlined in PMA's "Institutional Code of Ethics and Guidelines for Professional Practice" a board-approved policy that is reviewed and signed by each incoming Trustee. Per the policy, in the event a significant conflict of interest appears to be unavoidable, the Trustee shall seek the approval of the Board, or a duly appointed and authorized committee of the Board, prior to engaging in such action, and such approval, if given, shall result in there being no conflict with respect to the contemplated action. PMA has not had a conflict of interest that implored the President to place a restriction (such as not attending meetings, etc.) on the Trustee. Form 990, Part VI, Section B, line 15 Per PMA's Bylaws, the executive committee is authorized to exercise the following specific powers and duties on behalf of the board of trustees: (a) To enter into employment with, and to terminate the employment of, the chief executive officer (the "Director"), to negotiate and enter into employment contracts with the Director subject to final approval by the board of trustees, to annually review the performance of the Director, to determine the Director's annual compensation adjustments and benefits adjustments, to resolve all disciplinary and other issues relating to the Director's employment; (b) To review annually the performance of any other key employees and to resolve all disciplinary and other issues relating to such employees when such tasks are specifically delegated to the executive committee by the board of trustees; In 2010, the PMA engaged an independent HR consulting firm, Maine HR Partners, LLC, to conduct a classification and compensation study of all positions, including the Director and Deputy Directors. The study included a customized salary and employee benefits survey of comparable organizations, as well as other employers in the relevant market areas and in other published surveys. A survey of fringe benefit practices was also conducted and the results incorporated into the final report, in order to consider total compensation in the establishment of a salary structure. Based on this analysis of market data, salary ranges were developed which address the concepts of market competitiveness and internal equity considerations. In 2014, the same firm conducted another survey of comparable organizations and the PMA's salary ranges were adjusted to reflect this new data. Maine HR Partners, LLC, also worked with PMA staff and the human resources committee to develop a performance evaluation system, which included 360 degree performance reviews of these individuals. The Director's performance review is conducted by the Board President and reviewed with the executive committee. The Deputy Director's performance review is conducted by the Director and presented to the executive committee. Compensation for these two individuals is determined by vote of the executive committee, utilizing the performance review data and data from the independent classification and compensation study. Form 990, Part VI, Section C, line 19 PMA's governing documents, conflict of interest policy, and financial statements are made available to the public upon request. Form 990, Part X, Line 10: Land, Buildings, and Equipment Section 1.263(a)-3(n) Election: Portland Museum of Art 7 Congress Square Portland, ME 04101 EIN: 01-0378420 Section 1.263(a)-3(n) Election: Portland Museum of Art is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n). Davis Family Foundation 30 Forest Falls Drive Yarmouth ME 04096 010390443 To award grants ME 501(c)(3) Line 12a, I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0