2016-02-12T12:38:53-08:00 2015-06-30 Foti Flynn Lowen & Co PC PO Box 12765 Roanoke VA 240282765 990 2014-07-01 546026841 TAUBMAN MUSEUM OF ART TAUB 5403425760 110 SALEM AVE SE ROANOKE VA 24011 DELLA WATKINS Executive Director 2016-02-12 true FRANK B HANCOCK CPA P00005271 5403449246 2014 2016-08-17 19:52:53Z DELLA WATKINS 4911510 false false X WWW.TAUBMANMUSEUM.ORG X 1951 VA SERVING THE DIVERSE COMMUNITIES OF OUR REGION, THE TAUBMAN MUSEUM OF ART ENGAGES ALL AUDIENCES THROUGH THE CELEBRATION AND ENJOYMENT OF THE CREATIVE PROCESS. IT IS COMMITTED TO EXCELLENCE IN ITS COLLECTION, SCHOLARSHIP, EDUCATION AND CREATIVE ACTIVITIES. OUR EMPHASIS IN ITS COLLECTION, SCHOLARSHIP, EDUCATION AND CREATIVE ACTIVITIES. OUR EMPHASIS IS ON AMERICAN ART AND REGIONAL CULTURE. THE INSTITUTE OF ART SPECIALIZES IN THE EXHIBITION, EDUCATION AND SCHOLARSHIP OF 19TH AND 20TH CENTURY AMERICAN ART. 17 17 40 25 0 3097734 3903448 145335 211996 240504 205060 203434 129454 3687007 4449958 0 0 1311840 1273047 0 716995 3049503 2844714 4361343 4117761 -674336 332197 51899546 52074031 93745 113984 51805801 51960047 SERVING THE DIVERSE COMMUNITIES OF OUR REGION, THE TAUBMAN MUSEUM OF ART ENGAGES ALL AUDIENCES THROUGH THE CELEBRATION AND ENJOYMENT OF THE CREATIVE PROCESS. IT IS COMMITTED TO EXCELLENCE IN ITS COLLECTION, SCHOLARSHIP, EDUCATION AND CREATIVE ACTIVITIES. OUR EMPHASIS IN ITS COLLECTION, SCHOLARSHIP, EDUCATION AND CREATIVE ACTIVITIES. OUR EMPHASIS IS ON AMERICAN ART AND REGIONAL CULTURE. THE INSTITUTE OF ART SPECIALIZES IN THE EXHIBITION, EDUCATION AND SCHOLARSHIP OF 19TH AND 20TH CENTURY AMERICAN ART. false false 2939950 211996 THE MUSEUM CONDUCTS AND SPONSORS ART CLASSES, LECTURES, SHOWS AND EXHIBITS, THEATRICAL AND MUSICAL PROGRAMS, FILM PRESENTATIONS AND WORKSHOPS TO STIMULATE ART APPRECIATION IN THE ROANOKE VALLEY AREA. 2939950 true true false false false false false true false true true false false false false true true false false false false false false false true false false false false false false false false false false false false false false false false true true false false false false false false false false true 47 0 false 40 true false false false false false true true false false 0 false false false false false false false false false false X 17 17 true false false false false false false true false false false true true false true false true true false false X X DELLA WATKINS 5402044113 110 SALEM AVE SE ROANOKE VA 24011 X MR NICHOLAS F TAUBMAN Chairman 2.00 0.00 X X 0 0 0 MR W HEYWOOD FRALIN Vice Chairman 2.00 0.00 X X 0 0 0 MR DAVID WINE Treasurer 2.00 0.00 X X 0 0 0 MR WILLIAM J LEMON Secretary 2.00 0.00 X X 0 0 0 MS NANCY H AGEE Trustee 2.00 0.00 X 0 0 0 MS TAMMY FINLEY Trustee 2.00 0.00 X 0 0 0 MR KENT S GREENAWALT Trustee 2.00 0.00 X 0 0 0 MR LEON P HARRIS Trustee 2.00 0.00 X 0 0 0 MR STANARD F LANFORD Trustee 2.00 0.00 X 0 0 0 MS DEBBIE MEADE Trustee 2.00 0.00 X 0 0 0 MR BITTLE PORTERFIELD III Trustee 2.00 0.00 X 0 0 0 MR GARNETT SMITH Trustee 2.00 0.00 X 0 0 0 MRS JENNY TAUBMAN Trustee 2.00 0.00 X 0 0 0 MR NICHOLAS CONTE Trustee 2.00 0.00 X 0 0 0 MS JEAN HOPSTETTER Trustee 2.00 0.00 X 0 0 0 DR SHARON RAMEY Trustee 2.00 0.00 X 0 0 0 MS SHELIA STRAUSS Trustee 2.00 0.00 X 0 0 0 DELLA WATKINS EXECUTIVE DIRECTOR 50.00 0.00 X 149595 0 0 149595 1 false false false SECURITAS SECURITY SERVICES USA INC PO BOX 403412 ATLANTA GA 303843412 SECURITY 217280 1 170885 21886 197720 3512957 50171 3903448 EDUCATION PROGRAM FEES 99471 99471 OTHER 28962 27428 1534 Space Rentals 83563 83563 211996 88617 88617 0 0 0 437164 315543 5178 121621 -5178 116443 116443 203264 21886 89654 113610 113610 0 67021 51177 15844 15844 0 4449958 210462 336048 0 0 0 0 149595 119676 14960 14959 0 908250 600280 115288 192682 37160 25291 4575 7294 91321 62152 11244 17925 86721 59021 10678 17022 0 10643 10643 22191 22191 0 0 20847 20847 0 48486 47361 1125 7754 2235 5105 414 43707 15162 3468 25077 0 289746 188786 46120 54840 14854 11341 2365 1148 0 0 0 0 1540904 1063224 169499 308181 91684 61100 18820 11764 SECURITY SERVICES 205474 198886 6588 EXHIBITION COSTS 115901 115901 REPAIRS & MAINTENANCE 94049 94049 Postage and Shipping 74694 71040 2116 1538 263780 204445 2897 56438 4117761 2939950 460816 716995 684 744 191634 190313 173060 1063314 0 0 0 0 46057 20847 26603 94219 58463829 11568403 48314434 46895426 3040433 3752563 106641 56605 0 0 0 51899546 52074031 93745 113984 93745 113984 X 48329891 46776515 208186 1863170 3267724 3320362 51805801 51960047 51899546 52074031 332197 -177951 X false true X true false X 1977640 2084722 5864564 3097734 3903448 16928108 0 0 1977640 2084722 5864564 3097734 3903448 16928108 9074619 7853489 46749 54995 46514 59814 88617 296689 0 0 17224797 896610 0.45590 0.40500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X false 3147073 52638 23667 91330 3132048 2400174 525000 349899 128000 3147073 2242458 107082 201134 150500 2400174 2388134 24600 -21262 149014 2242458 2038775 52235 353324 56200 2388134 0.02000 0.96000 0.02000 false false false 1353898 1353898 54069033 9083104 44985929 1086396 1031475 54921 1954502 1453824 500678 46895426 POOLED INVESTMENTS 2957 F X 4283244 -177951 10231 51177 -116543 4399787 50171 50171 4449958 4128998 10231 51177 61408 4067590 50171 50171 4117761 Part III, Line 1a: If organization elected under SFAS 116 to not report are, historical treasures, o The Museum's art collection as of June 30, 2015 consists of 2,214 objects. These range from a growing number of works by internationally renowned American artists to works reflecting the history and aesthetic tastes of the region. The collection is inventoried annually, and is protected round the clock by various alarm systems and gallery security staff. The Museum has elected, as permitted by standards, not to capitalize its art collection. The cost of all objects purchased is reported separately as a decrease in unrestricted net assets. For the year ended June 30, 2015, purchases of art objects amounted to $-0-. Part III, Line 4: Description of organization's collections and how it furthers its purpose. See explanation for PART III LINE IA above Part V, Line 4: Intended uses of the endowment fund. The Shaftman account was established in December 1993 by action of the Museum's Board of Trustees. This account is to be used for the funding of the establishment and maintenance of the Rosalie and Sydney Shaftman Gallery and acquisition of decorative art. The account's income and principal, if necessary, may be used for the establishment of the Shaftman Gallery.Investments which are held by the Virginia Tech Foundation consist of pooled investments. The account was created through an agency agreement between the Museum and the Foundation. The general operating endowment was established as part of the capital campaign for an unrestricted operating endowment fund. Proceeds are accounted for separately and earnings are used for unrestricted operating purposes. The Peggy MacDowell Thomas endowment was established for the establishment and maintenance of the Peggy MacDowell Thomas Gallery. Earnings to the extent not needed for the gallery are used for unrestricted operating purposes.In June 2011, the Mickie Kagey Watercolor award was established for the purpose giving an annual $1,000 award at the Sidewalk Art Show program run by the Museum once the fund is generating enough income. A minimum of $25,000 will be raised and any unexpended annual income will be added to the endowment principal.The Maintenance Endowment was established in July of 2013. The fund is to provide a permanent income stream and source of funds for the Museum to supplement operating funds as necessary to assure proper and required maintenance of the facilities. The Museum can take distributions of income as needed. To extent income is insufficient, principal may be withdrawn, however the Museum must return the principal to the endowment. The Taubman Museum of Art Endowment was established in March of 2015. The purpose of this fund is to provide for the permanent maintenance of the Museum as a charitable public fine arts museum. The goal of the fund is to reach $20 million. Until the fund reaches this point, the Museum may only take distributions of interest and dividends. Once the $20 million has been reached, the Museum may take distributions of interest, dividends and market appreciation. The distributions are to be used for the purpose of supplementing the general operating revenues to assure the continuation of the Museum's business and functions so as to protect and preserve the Museum as an operating art museum. Part X : FIN48 Footnote The Museum is tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code and is not classified as a private foundation. The Museum believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. There can be no assurance that the Museum's tax returns will not be challenged by the taxing authorities and that the Museum will not be subject to additional taxes, penalties and interest as a result of such a challenge. Should any such penalties and interest be incurred, the Museum's policy would be to recognize them as management and general expenses. With limited exceptions, the Museum is no longer subject to income tax examinations for any years earlier than 2012 for federal purposes. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 MUSEUM STORE EXPENSE $51177 Part XI, Line 4b: Other revenue amounts included on 990 but not included in F/S DONATION OF ART WORK $50171 Part XII, Line 2d: Other expenses and losses per audited F/S STORE INVENTORY EXPENSE $51177 Part XII, Line 4b: Other revenue amounts included on 990 but not included in F/S DONATION OF ART WORK $50171 X X X X X X X false WOMANS LUNCHEON 138680 7000 131680 800 15743 6000 8783 SIDEWALK ART SHOW 40448 40448 7547 134 500 4254 3 45997 14886 31111 4885 3157 17402 900 6280 225125 21886 203239 7547 5685 3157 33279 7400 19317 76385 126854 X 54 50171 Appraisal false false false Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et NICHOLAS AND JENNY TAUBMAN ARE MARRIED Form 990, Part VI, Line 11b: Form 990 Review Process REVIEWED BY AUDIT COMMITTEE WHICH RECOMMENDS APPROVAL OR DISAPPROVAL TO THE FULL BOARD OF TRUSTEES. THE BOARD REVIEWS THE 990, AND THE EXECUTIVE DIRECTOR DIRECTS TRUSTEES TO REVIEW THE QUESTIONS IN PARTICULAR TO ENSURE ALL BOARD MEMBERS ARE AWARE OF THE ANSWERS BEING PROVIDED. THE EXECUTIVE DIRECTOR SIGNS THE APPROVED DOCUMENT AFTER THIS REVIEW. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts ORAL INTERVIEWS Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The American Alliance of Museums (AAM)produces an annual salary study of all types of museums across the county by size, region and size of budget. The Taubman Museum of Art uses this study to set salary levels and ranges for all employees. The Board reviewed the AAM study to determine the appropriate rates of compensation for the new Executive Director and decided on a level that met AAM standards. Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection The 990 is made available on the Museum's website. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The organization will provide financial statements upon written request to the executive director.