2016-05-16T10:03:36-07:00 2015-06-30 990 2014-07-01 131624100 MUSEUM OF MODERN ART MUSE 2127089801 11 West 53rd Street New York NY 10019 James Gara Chief Operating Officer 2127089801 2016-05-16 2014 2016-08-17 19:52:53Z Marie-Josee Kravis 11 West 53rd Street New York NY 10019 580876018 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. 42 39 1243 377 4841270 789462 123940602 135284742 35241021 35085880 131081567 181650756 31020036 33381485 321283226 385402863 599390 569859 0 0 87012505 93393626 300000 172500 12800652 136208361 136000097 224120256 230136082 97162970 155266781 1630045534 1717946613 422132667 380238811 1207912867 1337707802 X See schedule O 0 0 116825924 569859 63633301 Museum Operations - Curatorial and curatorial support departments include conservation, education, exhibitions, 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 2015, over 4 million children, students, and adults, of all abilities, were served by the Education Department: over 3 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 over 210,000 who participated in educational programs. MoMa's online following continues to flourish, reaching an extensive global audience. The Museum's 2014-15 special exhibition schedule showcased a broad range of modern and contemporary art, performance and film. Noteworthy exhibitions , among others, were on view during FY 2015: Robert Gober: The Heart Is Not A Metaphor, Henri Matisse: The Cut-Outs, Cut to Swipe, 100 Years in Post-Production, Modern Photographs from the Thomas Walther Collection, 1909-1949, The Forever Now: Contemporary Painting in an Atemporal World, Bjork, Latin America in Construction: Architecture 1955-1980, Uneven Growth: Tactical Urbanisms for Expanding Megacities, One-Way Ticket: Jacob Lawrence's Migration Series and Other Visions of the Great Movement North, Yoko Ono: One Woman Show, 1960-1971 25249129 0 18691034 Notable acquisitions completed in FY 2015 included key photographic acquisitions ranging from Gustave Le Gray's Tugboat Normandy (1856-57) to Robert Mapplethorpe's Self-Portrait (1980), Glenn Ligon's monumental set of 50 screenprinted self-portraits titled Figure (2001), five films from the 1950s-70s by Brazilian filmmaker Nelson Pereira dos Santos including Como Era Gostoso o Meu Frances (How Tasty Was My Little Frenchman) (1971), a group of 3-D printed objects by Israeli designer Neri Oxman titled Imaginary Beings (2012) featured this year in the exhibition This is for Everyone: Design Experiments for the Common Good, over 400 works by Latin American architects coinciding with the exhibition Latin America in Construction: Architecture 1955-1980, five sculptures by Chinese artist Chen Zhen from a series titled Un Village sans frontiers (2000), an 8-channel video by Moroccan-French artist Bouchra Khalili entitled The Mapping Journey Project (2011). 35964627 0 0 Security operation and maintenance of exhibition galleries and art collection. 0 0 0 178039680 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 0 0 1 0 0 1 0 0 1 1 0 0 1 0 1 1 0 1 0 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 1 581 0 1 1243 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 42 39 1 0 1 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 VA WA WI WV X X John C Bailey - Controller 2127089801 11 West 53rd Street New York NY 10019 David Rockefeller Honorary Chairman/Life Trustee 1 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 1 0 X X 0 0 0 Agnes Gund President Emerita/Life Trustee 1 0 X X 0 0 0 Donald B Marron President Emeritus/Life Trustee 1 0 X X 0 0 0 Jerry I Speyer Chairman/Trustee 1 0 X X 0 0 0 Marie-Josee Kravis President /Trustee 1 0 X X 0 0 0 Sid R Bass Vice Chairman/Trustee 1 0 X X 0 0 0 Leon D Black Vice Chairman/Trustee 1 0 X X 0 0 0 Mimi Haas Vice Chairman/Trustee 1 0 X X 0 0 0 Richard E Salomon Vice Chairman/Treasurer/Trustee 1 0 X X 0 0 0 Wallis Annenberg Trustee 0.5 0 X 0 0 0 Lawrence B Benenson Trustee 1 0 X 0 0 0 Clarissa Alcock Bronfman Trustee 0.5 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 David Dechman 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 Anne Dias Griffin Trustee 1 0 X 0 0 0 Alexandra A Herzan Trustee 1 0 X 0 0 0 Marlene Hess Trustee 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 1 0 X 0 0 0 Michael Lynne 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 Daniel Sundheim Trustee as of June, 2015 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 Eli Broad Life Trustee 1 0 X 0 0 0 Douglas S Cramer Life Trustee 1 0 X 0 0 0 Joel S Ehrenkranz Life Trustee 1 0 X 0 0 0 Gianluigi Gabetti Life Trustee 0.5 0 X 0 0 0 Barbara Jakobson Life Trustee 1 0 X 0 0 0 Werner H Kramarsky Life Trustee 1 0 X 0 0 0 June Noble Larkin Life Trustee 1 0 X 0 0 0 Peter G Peterson Life Trustee 0.5 0 X 0 0 0 Emily Rauh Pulitzer Life Trustee 1 0 X 0 0 0 Anna Marie Shapiro Life Trustee 1 0 X 0 0 0 Jeanne C Thayer Life Trustee 1 0 X 0 0 0 Joan Tisch Life Trustee 1 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 1212687 0 974624 James Gara Chief Operating Officer/Assistant Treasurer 40 0 X 1469847 0 532597 Patty Lipshutz General Counsel/Secretary 40 0 X 549252 0 166364 Frank Ahimaz Chief Investment Officer 40 0 X 1018146 0 406514 Kathy Halbreich Associate Director 40 0 X 451327 0 99009 Todd Bishop Senior Deputy Director of External Affairs 40 0 X 414275 0 201978 Peter Reed Senior Deputy Director for Curatorial Affairs 40 0 X 361270 0 148039 Ramona Bannayan Senior Deputy Director for Exhibitions 40 0 X 298680 0 81079 Jan Postma Chief Financial Officer 40 0 X 312318 0 46890 Ann Temkin Chief Curator - Painting and Sculpture 40 0 X 292862 0 87645 Klaus Biesenbach Chief Curator at Large 0 40 X 0 402726 50239 Tunji Adeniji Director of Facilities and Security 40 0 X 249791 0 52219 Rajendra Roy Chief Curator - Film 40 0 X 247430 0 58267 Christophe Cherix Chief Curator - Prints & Illustrated Books 40 0 X 288896 0 62827 Quentin Bajac Chief Curator - Photography 40 0 X 240603 0 38606 Stuart Comer Chief Curator-Media & Performance Art 40 0 X 200943 0 37457 Martino Stierli Chief Curator - Architecture and Design started 3/2015 40 0 X 0 0 0 Anthony Wai Director of Investments 40 0 X 528026 0 245973 Christopher Hudson Publisher 40 0 X 324137 0 97340 Ruth Shapiro Director, Business Development 40 0 X 246504 0 166432 Jay Levenson Director of International Program 40 0 X 258852 0 128796 Patricia Jeffers Director of Human Resources 40 0 X 282867 0 76563 9248713 402726 3759458 146 0 1 0 Diller Scofidio and Renfro 601 West 26 Street New York NY 10001 Architect 3753405 Cooper Robertson & Partners 311 West 43rd Street New York NY 10036 Architect 403599 Proskaur Rose LLP Eleven Time Square New York NY 10036 Legal Services 315482 PricewaterhouseCoopers LLP 300 Madison Avenue New York NY 10017 Audit Fees 308800 Bluewater Communication Group LLC 110 Parkway Drive South Hauppauge NY 11788 Information Technology 151766 12 X 0 4086667 9566529 0 91525 121540021 7478595 135284742 Admissions 712100 31890931 31890931 0 0 Exhibition Tour Income 712100 1233788 1233788 0 0 1961161 1961161 0 0 35085880 12109225 0 843114 11266111 0 0 0 0 0 0 0 0 1532240 0 226111 0 1306129 0 1306129 0 0 1306129 209876000 125347910 148337457 17344922 61538543 108002988 169541531 18691034 0 150850497 455740 9566529 2055718 -1599978 0 -1599978 0 0 0 0 0 0 57352801 27508947 29843854 26526261 3317593 0 Museum Restaurants 722100 1129757 0 0 1129757 Corporate Events 900099 2701723 2021160 680563 0 0 0 0 0 3831480 385402863 82324335 4841270 162952516 X 569859 569859 0 0 0 0 0 0 9380559 2621606 6224064 534889 0 0 0 0 58788458 48484420 6159550 4144488 9123002 6839476 1657289 626237 11366463 8521389 2064837 780237 4735144 3869161 578141 287842 0 0 0 0 758013 0 758013 0 447278 0 447278 0 60000 0 60000 0 172500 172500 7653647 0 7653647 0 19901074 14668511 2921514 2311049 6084571 4052092 0 2032479 12050332 10417805 957993 674534 1121450 0 1121450 0 116005 116005 0 0 14523394 12880174 1097147 546073 2756995 2390563 288853 77579 0 0 0 0 0 0 0 0 9724614 9210714 342600 171300 0 0 0 0 26702724 21058084 5458426 186214 2100458 2026369 49662 24427 Acquisition of Works of Art 25249129 25249129 0 0 Membership Dues and Subscriptions 389364 172454 212678 4232 Administrative and Other Expenses 6361049 4891869 1242608 226572 0 0 0 0 230136082 178039680 39295750 12800652 5325218 8810455 47850742 75028374 175394056 190257879 7001116 7851836 0 0 0 0 0 0 11209897 12680114 11204529 9007607 790210484 321230055 490810117 468980429 533283330 589904848 305622974 317341740 0 0 0 0 42343555 38083331 1630045534 1717946613 40462963 46857126 0 0 58227286 2309589 250725423 247765857 0 0 5062909 5756699 0 0 17800000 17800000 49854086 59749540 422132667 380238811 X 696358956 762987442 264772919 326845293 246780992 247875067 1207912867 1337707802 1630045534 1717946613 X 155266781 -20964429 0 0 0 -4507417 X 0 1 X 1 0 X 91348611 99837516 88978253 123940602 135284742 539389724 0 0 0 0 0 0 0 0 0 0 0 0 91348611 99837516 88978253 123940602 135284742 539389724 32908930 506480794 17076148 15783171 15630866 16484359 13641465 78616009 132868 1159754 0 1735350 789462 3817434 4839958 4744645 4259230 4399438 4287220 22530491 644353658 179474271 0.78603 0.81867 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 230136082 230196082 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 134000 90000 60000 60000 344000 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X X X 0 542464000 86184000 8285000 0 30961000 0 605972000 459691000 70582000 37563000 0 25372000 0 542464000 438939000 37247000 30123000 0 46618000 0 459691000 429992000 41254000 -2947000 0 29360000 0 438939000 356715000 48006000 23497000 0 -1774000 0 429992000 0.05 0.41 0.54 0 0 0 91352129 91352129 0 538163997 237690322 300473675 0 4427316 4368938 58378 0 85586895 79170795 6416100 0 70680147 0 70680147 468980429 3765000 F 0 Credit 93487503 F Private Equity 80240558 F Multi-Strat & other 67177534 F Event Driven 41015713 F Equity Long/short 23121604 F Real Assets 8533828 F 317341740 0 Pension and post retirement benefits 59749540 59749540 389402000 -20964429 0 0 11161218 -9803211 399205211 11948746 -25751094 -13802348 385402863 253036000 0 0 0 9098979 9098979 243937021 11948746 -25749685 -13800939 230136082 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 180,000 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 150 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 other than net periodic benefit costs $4,865,335 and related organizations which file a separate return ($16,026,553.) Schedule D, Part XI, Line 4b Primarily consists of cost of goods sold on retail operations ($27,508,947), amounts related to special events and exhibitions $582,583, interest income related to sale of development rights $493,043, intra-company publication sales $935,630. Schedule D, Part XII, Line 2d Primarily related to organizations which file a separate return $9,456,895 and change in swap valuation ($357,916.) Schedule D, Part XII, Line 4b Primarily consists of cost of goods sold on retail operations ($27,508,947), amounts related to special events $582,583, interest income related to sale of development rights $493,043. Central America and the Caribbean 0 0 Investments 124106464 Europe (including Iceland and Greenland) 0 0 Investments 46079246 North America (including Canada and Mexico, but not the United States) 0 0 Investments 31757149 East Asia and the Pacific 0 0 Investments 5777244 Middle East and North Africa 0 0 Investments 618899 0 0 208339002 1 0 1 1 1 0 X X X X X X 1 John Brown Limited Inc PO Box 296 Petersborough NH 03458 Develop, strategize and fundraise for Museum building project. 0 0 172500 -172500 0 172500 -172500 AL AR CA CO CT DE FL GA HI ID IL IN KS KY LA MA MD ME MI MN MS MT NC ND NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY Party in the Garden 4498750 4315610 183140 0 0 45828 206676 117151 725472 DR Luncheon 3508500 3436700 71800 0 0 14349 67723 2880 82126 3 2015019 1814219 200800 0 0 49289 159999 94826 489399 10022269 9566529 455740 0 0 109466 434398 214857 1296997 2055718 -1599978 1 PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 501c(3) 569859 Operating Support 1 0 Schedule I, Part I, Line 2 The Museum as 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 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 X 0 0 0 0 0 0 0 1 0 Glenn D Lowry Director/Ex-Officio Trustee 828710 0 370800 0 13177 0 620126 0 354498 0 2187311 0 370800 0 James Gara Chief Operating Officer/Assistant Treasurer 459524 0 990051 0 20272 0 498597 0 34000 0 2002444 0 990051 0 Patty Lipshutz General Counsel/Secretary 379019 0 150000 0 20233 0 131866 0 34498 0 715616 0 150000 0 Frank Ahimaz Chief Investment Officer 460873 0 539143 0 18130 0 373100 0 33414 0 1424660 0 539143 0 Kathy Halbreich Associate Director 428482 0 0 0 22845 0 63547 0 35462 0 550336 0 0 0 Todd Bishop Senior Deputy Director of External Affairs 354625 0 50000 0 9650 0 164716 0 37262 0 616253 0 50000 0 Peter Reed Senior Deputy Director for Curatorial Affairs 359661 0 0 0 1609 0 109441 0 38598 0 509309 0 0 0 Ramona Bannayan Senior Deputy Director for Exhibitions 297967 0 0 0 713 0 45683 0 35396 0 379759 0 0 0 Jan Postma Chief Financial Officer 312025 0 0 0 293 0 14817 0 32073 0 359208 0 0 0 Ann Temkin Chief Curator - Painting and Sculpture 274097 0 0 0 18765 0 50382 0 37263 0 380507 0 0 0 Klaus Biesenbach Chief Curator at Large 0 402726 0 0 0 0 0 47500 0 2739 0 452965 0 0 Tunji Adeniji Director of Facilities and Security 231731 0 0 0 18060 0 15173 0 37046 0 302010 0 0 0 Rajendra Roy Chief Curator - Film 247190 0 0 0 240 0 20649 0 37618 0 305697 0 0 0 Christophe Cherix Chief Curator - Prints & Illustrated Books 286641 0 0 0 2255 0 29571 0 33256 0 351723 0 0 0 Quentin Bajac Chief Curator - Photography 240039 0 0 0 564 0 0 0 38606 0 279209 0 0 0 Stuart Comer Chief Curator-Media & Performance Art 200468 0 0 0 475 0 0 0 37457 0 238400 0 0 0 Martino Stierli Chief Curator - Architecture and Design started 3/2015 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Anthony Wai Director of Investments 267644 0 260130 0 252 0 221600 0 24373 0 773999 0 0 0 Christopher Hudson Publisher 303654 0 0 0 20483 0 64422 0 32918 0 421477 0 0 0 Ruth Shapiro Director, Business Development 245020 0 0 0 1484 0 136076 0 30356 0 412936 0 0 0 Jay Levenson Director of International Program 238142 0 0 0 20710 0 93045 0 35751 0 387648 0 0 0 Patricia Jeffers Director of Human Resources 274189 0 7500 0 1178 0 39957 0 36606 0 359430 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 7 Full-time employee, officer and ex-officio trustee. In 2015 Glenn Lowry earned $828,710 in base compensation as well as (ii) an annual bonus of $370,800 included in column B. These numbers compare to $739,620 and $360,000 in 2014. Commencing with Fiscal Year 2014 and included in column B, is an accrual of $560,261, for a multi-year supplemental employee retirement plan. The cumulative accrual through June 30, 2015 for Fiscal Year 2014 and 2015 is $1,120,522. 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 paid portions of a multi-year performance-based bonus and retention bonus. The performance bonus was earned over a six year period and reported on previous Form 990s but not paid until 2014. The performance bonus was awarded based on the achievement by Mr. Gara of certain multi-year service and performance requirements in 2009, 2010, 2011, 2012, 2013 and 2014 for areas such as operations and investments. Of the multi-year performance bonus and retention bonus earned in prior years and paid in 2014, $990,051 (the entire amount) had been reported in previous Form 990s for fiscal years - 2009 through 2014. Patty Lipshutz - General Counsel and Secretary Full-time employee and officer but not a trustee. Included in column B(ii) is an amount attributable to a multi-year retention bonus. Frank Ahimaz - Chief Investment Officer Full-time employee but not Trustee. Eligible for retention and annual bonus based on achievement of performance measures. A portion of the multi-year bonus plan was paid in 2014 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. A portion of the multi-year bonus plan was paid in 2014 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 2014 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 2008 1A 911882413 649717PC3 2008-07-23 202520188 Refund various Bonds of Issuer 0 0 0 B The Trust for Cultural Resources of City of New York Series 2010 1A 911882413 649717QL2 2010-07-29 64582831 Refund Issuer's 2008 One-A and pay costs of issuance 0 0 0 C The Trust for Cultural Resources of City of NY Series 2012 1D and Series 2012A 911882413 649717RM9 2012-05-01 104770510 Refund Issuer's 1996A, 2001A, 2001-One-D, and pay costs of issuance 0 0 0 A 64210000 0 202818443 0 0 0 1080188 0 0 0 201738255 0 1 0 1 1 B 0 0 64593399 0 0 0 433188 0 0 0 64160211 0 1 0 1 1 C 8895000 0 104778309 0 0 0 733735 0 0 0 104033045 11529 1 0 1 1 A B C A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 Schedule K, Part I, Column c-07/23/2008 202,520,188 The Trust for Cultural Resources of CUSIP listed matches the one listed on the Issuer's Form 8038. However, this is not the final CUSIP number for the Bonds. The final CUSIP number is 649717PD1 corresponding to the final maturity of 4/1/31. Schedule K, Part I, Column c-05/01/2012 104,770,510 The Trust for Cultural Resources of CUSIP listed matches the one listed on the Issuer's Form 8038. However this is not the final CUSIP number for the Bonds. The final CUSIP number is 649717RM9 corresponding to the final maturity of 4/1/23. Schedule K, Part I, Column f-07/23/2008 202,520,188 The Trust for Cultural Resources of Bonds refunded by 2008-One-A Bonds: Issuer's 2000-One-A (issued 3/14/00), 2000-One-B (issued 3/14/00), 2001-One-A (issued 12/13/01), 2001-One-B (issued 12/13/01), 2001-One-C (issued 12/13/01). Schedule K, Part I, Column f-07/29/2010 64,582,831 The Trust for Cultural Resources of The 2010-One-A Bonds refunded a portion of the Issuer's 2008-One-A Bonds (issued 7/23/08). Schedule K, Part I, Column f-05/01/2012 104,770,510 The Trust for Cultural Resources of Bonds refunded by 2012 Bonds: Issuer's 1996A (issued 11/20/96), 2001A (12/13/01), and 2001-One-D (issued 12/31/01). Schedule K, Part II, Line 1-07/23/2008 202,520,188 The Trust for Cultural Resources of Part II line 13 - Since the proceeds of all Bonds are used for refunding purposes, the year of substantial completion is no applicable. Schedule K, Part II, Line 1-07/29/2010 64,582,831 The Trust for Cultural Resources of Part II, line 13 - Since the proceeds of all Bonds are used for refunding purposes, the year of substantial completion is not applicable. Schedule K, Part II, Line 1-05/01/2012 104,770,510 The Trust for Cultural Resources of Part II, Line 13 - Since the proceeds of all Bonds are used for refunding purposes, the year of substantial completion is not applicable. Schedule K, Part II, Line 3-07/23/2008 202,520,188 The Trust for Cultural Resources of Amount listed differs from the issue price in Part I, (e), due to investment earnings from refunding escrows. Schedule K, Part II, Line 3-07/29/2010 64,582,831 The Trust for Cultural Resources of Amount listed differs from the issue price listed in Part I, (e), due to investment earnings from refunding escrows. Schedule K, Part II, Line 3-05/01/2012 104,770,510 The Trust for Cultural Resources of Amount listed differs from the issue price listed in Part I, (e), due to investment earnings from refunding escrows. Schedule K, Part IV, Line 2b-07/23/2008 202,520,188 The Trust for Cultural Resources of The issue qualified for a spending exception to rebate. No rebate calculation has been or will ever be made, before or after the due date of an 8038-T. Top of the Rock LLC Trustee 221047 see comment 0 John Brown Limited Inc former key employee 172500 see comment 0 Phaidon Press Ltd Trustee 118443 see comment 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, Jerry Speyer and Paula Crown, 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. John Brown Ltd - The Museum has retained a former key employee as a consultant to develop and strategize for the Museum building project. Leon Black, a trustee of the Museum, is the grantor of trusts where there is a minority interest in Phaidon Press Ltd. Phaidon Press Ltd. periodically sells art books to the Museum as well as other museums. X 1081 0 not applicable X 40 7478595 settlement 0 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 deaccessioned of art work. Form 990, Part III, Line 1 The Museum of Modern Art is a private, nonprofit 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 175,000 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 42 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 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, 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 100,000 individuals participate in targeted educational programs on and off site 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 seven 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. Educational programs take place throughout the week. Form 990, Part VI, Section A, Line 2 The Museum's Board of Trustees includes two members from the same family - David Rockefeller, who is not a voting trustee and David Rockefeller, Jr. , who is a voting trustee. 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. Form 990, Part VI, Section A, Line 4 In September 2014, the Museum amended it's bylaws. Some of the principal changes impacted the membership structure of the board, raised the maximum number of trustees, and affected the composition of the governance committees. 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, as well as for profit institutions which may be interested in recruiting the Museum staff. 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 December 2015. 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 VIII, Line 7a Included in inventory sales is $18,691,034 related to sales of works of art. The remaining portion reflected a gain on the sale of development rights of $89,311,955 from a developer over undeveloped Museum property to construct a building adjacent to the Museum. The Museum retained certain development rights that will be used to add gallery space on several floors within the building when construction is completed. The Museum and the developer completed the sale of the additional development rights over the undeveloped property in September 2014, at which point the developer paid the Museum the remaining $62,000,000 (previous deposits have been shown in deferred revenue) to complete the transaction, for total proceeds of approximately $116,000,000. At the time of closing, all consideration affecting a sale had been exchanged between the parties and the Museum surrendered title of the development rights to the developer. Form 990, Part IX, Line 25 For FY 2015, Fundraising Expenses totaled $12,800,652. Fundraising activities include membership, development and cultivation expenses encompassing all costs attributable to a complete range of fundraising activities including Museum operations, endowment, and art acquisitions. These costs also include current and future donor cultivation, acquisition and retention of membership, membership fulfillment costs, fundraising events for the benefit of the Museum and contribution processing and acknowledgement. Form 990, Part XI, Line 9 Other changes in net assets include defined benefit plan changes other than periodic benefit costs $4,865,335 and changes in valuation of interest rate swap $357,916 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 11 - Type 1 N/A 1 MoMA Auxiliaries 11 West 53rd Street New York NY 10019 133975341 Manage Retail Operations DE 501 (c) 3 11 - 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 -316316 4164804 0 1 1 Alta Cultura 11 West 53rd Street New York NY 10019 134114902 General Business Corporation DE N/A C 857198 1 0 5 Charitable Trusts N/A Various NY 10019 Trust NY N/A T 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 PS1 Contemporary Art Center Inc l 775381 cost method PS1 Contemporary Art Center Inc b 569859 cost method Modern and Contemporary Art Support Corp p 12993201 cost method MoMA Auxiliaries p 3197919 cost method The International Council of The Museum of Modern Art o 368896 cost method Schedule R, Part V, Line 1d There is a $2 million line of credit guaranteed by MoMA to MoMA PS1.