2016-05-03T18:56:41-05:00 2015-06-30 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD STE 700 LOS ANGELES CA 900243783 990 2014-07-01 952264067 MUSEUM ASSOCIATES MUSE 3238576142 5905 WILSHIRE BLVD LOS ANGELES CA 90036 ANN ROWLAND CHIEF FINANCIAL OFFICER 3238576142 2016-04-20 1 LIOR TEMKIN P00748170 3104773924 2016-04-20 2014 2016-08-17 19:52:53Z LOS ANGELES COUNTY MUSEUM OF ART (LACMA) ANN ROWLAND 5905 WILSHIRE BLVD LOS ANGELES CA 90036 109015095 0 X WWW.LACMA.ORG X 1938 CA SEE SCHEDULE O 54 51 621 382 33884 -205100 70676397 58208103 33806440 36508274 1485480 5061615 5637098 3494015 111605415 103272007 348775 394136 0 0 32304907 34757409 5000 0 5751021 74813758 77732805 107472440 112884350 4132975 -9612343 724412082 729171379 453558613 468247320 270853469 260924059 X SEE SCHEDULE O 0 0 35087405 394135 2313544 EXHIBITION, CURATORIAL, CONSERVATION & ART PROGRAMSLACMA PRESENTED 21 SPECIAL EXHIBITIONS AND 26 DEPARTMENTAL ROTATIONS IN FISCAL 2015-2016, FEATURING ARTWORKS FROM ITS OWN COLLECTION AND FROM LENDERS AROUND THE WORLD. PUBLIC PROGRAMS, FILMS, AND CONCERTS ARE DEVELOPED IN COORDINATION WITH SPECIAL EXHIBITIONS. MANY WORKS FROM THE MUSEUM'S COLLECTION OF OVER 130,000 OBJECTS ARE TREATED BY CONSERVATORS, WHILE THE MUSEUM'S RESEARCH LIBRARY AND SCHOLARLY PUBLICATIONS PROVIDE REFERENCE SUPPORT TO MUSEUM STAFF AND OUTSIDE SCHOLARS. ALL OF THESE ACTIVITIES SERVE TO MEET THE GOALS OF CONSERVATION, EXHIBITION AND INTERPRETATION OF ART INTO MEANINGFUL AESTHETIC, INTELLECTUAL, AND CULTURAL EXPERIENCES. 26285337 0 FACILITY ENHANCEMENTFINANCING AND DEPRECIATION EXPENSE REPRESENT AMORTIZATION OF THE CAPITALIZED COSTS OF CONSTRUCTING THE MUSEUM'S PHYSICAL FACILITIES, AN ACTIVITY THAT IS ONE OF THE CORE REASONS MUSEUM ASSOCIATES WAS FOUNDED. THIS CATEGORY OF EXPENSE ALSO REFLECTS SOME ON-GOING ACTIVITY FOR PROJECTS THAT WERE NOT CAPITALIZED, SUCH AS ARCHITECTURAL PLANNING. 16859941 1427078 ART ACQUISITIONSWORKS OF ART IN ALL MEDIA, FROM EVERY HISTORICAL PERIOD, AND FROM EVERY CORNER OF THE GLOBE ARE PURCHASED TO ENHANCE THE MUSEUM'S PERMANENT COLLECTION. SUCH ADDITIONS CONTRIBUTE TO THE MUSEUM'S GOAL OF COLLECTING SIGNIFICANT WORKS OF ART FROM A BROAD RANGE OF CULTURES AND ERAS.EXPENSES REFLECT FUNDS PAID BY THE MUSEUM FOR THE ACQUISITION OF ARTWORK DURING THE YEAR, BUT DO NOT REFLECT THE VALUE OF GIFTS OF ART. REVENUES REPRESENT THE PROCEEDS OF DEACCESSIONS FROM THE PERMANENT COLLECTION RECEIVED DURING THE FISCAL YEAR, (CONTINUED ON SCHEDULE O) WHICH, IN ACCORDANCE WITH MUSEUM POLICY, ARE RESTRICTED FOR THE FUTURE ACQUISITION OF ARTWORKS. 18348507 33847699 IT IS A MUSEUM GOAL TO CONTINUOUSLY EXPAND AND SERVE AUDIENCES OF ALL AGES, ETHNICITIES, AND SOCIO-ECONOMIC BACKGROUNDS BY CREATING WELCOMING ENVIRONMENTS AND PROGRAMS. THIS IS ACCOMPLISHED THROUGH A VARIETY OF MEANS, INCLUDING THE MUSEUM MAGAZINE, SPECIAL EVENTS, PROMOTIONAL CAMPAIGNS, CAMPUS WAY-FINDING MEDIA, AND ON-SITE STAFF PROVIDING SERVICE TO THE PUBLIC. THE MUSEUM ALSO WORKS TO EXTEND THE MUSEUM EXPERIENCE IN THE FULLEST POSSIBLE WAY TO THE WIDEST POSSIBLE AUDIENCE. TO ACHIEVE THIS GOAL, IT OFFERS MANY EDUCATIONAL OUTREACH PROGRAMS IN LOCAL SCHOOLS AND ON-SITE FOR CHILDREN AND TEENS AS WELL AS CLASSES AND OTHER PROGRAMS AND INTERPRETIVE MATERIALS FOR COLLEGE STUDENTS AND ADULTS. IT ALSO PROVIDES IMAGES, INFORMATION, AND OTHER WAYS TO ACCESS ITS COLLECTIONS AND PROGRAMS THROUGH THE WEB AND MANY OTHER DIGITAL MEDIA. 18348507 33847699 96581190 1 1 0 1 0 0 1 1 0 1 1 0 0 0 1 0 1 0 0 1 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 1 275 0 1 621 1 1 1 0 0 0 0 1 1 0 0 0 0 X 54 51 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X X ANN ROWLAND CHIEF FINANCIAL OFFICER 3238576142 5905 WILSHIRE BLVD LOS ANGELES CA 90036 X ANDREW BRANDON-GORDON CO-CHAIR OF THE BOARD 0.50 X X 0 0 0 TERRY SEMEL CO-CHAIR OF THE BOARD 0.50 X X 0 0 0 WILLIAM H AHMANSON VICE CHAIR 0.50 X X 0 0 0 WILLOW BAY VICE CHAIR 0.50 X X 0 0 0 ROBERT KOTICK VICE CHAIR 0.50 X X 0 0 0 LYNDA RESNICK VICE CHAIR 0.50 X X 0 0 0 TONY RESSLER VICE CHAIR 0.50 X X 0 0 0 WALLIS ANNENBERG TRUSTEE 0.50 X 0 0 0 AMBASSADOR NICOLE AVANT TRUSTEE 0.50 X 0 0 0 MARK ATTANASIO TRUSTEE 0.50 X 0 0 0 COLLEEN BELL TRUSTEE 0.50 X 0 0 0 DR REBECKA BELLDEGRUN TRUSTEE 0.50 X 0 0 0 NICOLAS BERGGRUEN TRUSTEE 0.50 X 0 0 0 DAVID C BOHNETT TRUSTEE 0.50 X 0 0 0 SUZANNE DEAL BOOTH TRUSTEE 0.50 X 0 0 0 BRIGITTE BREN TRUSTEE 0.50 X 0 0 0 EVA CHOW TRUSTEE 0.50 X 0 0 0 ANN COLGIN TRUSTEE 0.50 X 0 0 0 JANET CROWN TRUSTEE 0.50 X 0 0 0 KELVIN DAVIS TRUSTEE 0.50 X 0 0 0 KELLY DAY TRUSTEE 0.50 X 0 0 0 JOSHUA S FRIEDMAN TRUSTEE 0.50 X 0 0 0 GABRIELA GARZA TRUSTEE 0.50 X 0 0 0 TOM GORES TRUSTEE 0.50 X 0 0 0 BRIAN GRAZER TRUSTEE 0.50 X 0 0 0 BRAD GREY TRUSTEE 0.50 X 0 0 0 GHADA IRANI TRUSTEE 0.50 X 0 0 0 VICTORIA JACKSON TRUSTEE 0.50 X 0 0 0 SUZANNE KAYNE TRUSTEE 0.50 X 0 0 0 LYN DAVIS LEAR TRUSTEE 0.50 X 0 0 0 BRYAN LOURD TRUSTEE 0.50 X 0 0 0 MICHAEL LYNTON TRUSTEE 0.50 X 0 0 0 ROBERT F MAGUIRE III TRUSTEE 0.50 X 0 0 0 JAMIE MCCOURT TRUSTEE 0.50 X 0 0 0 RICHARD MERKIN MD TRUSTEE 0.50 X 0 0 0 HEATHER MNUCHIN TRUSTEE 0.50 X 0 0 0 WENDY STARK MORRISSEY TRUSTEE 0.50 X 0 0 0 JANE NATHANSON TRUSTEE 0.50 X 0 0 0 PETER NORTON TRUSTEE 0.50 X 0 0 0 ANNE PALMER TRUSTEE 0.50 X 0 0 0 VIVECA PAULIN-FERRELL TRUSTEE 0.50 X 0 0 0 ANTHONY N PRITZKER TRUSTEE 0.50 X 0 0 0 JANET DREISEN REPPAPORT TRUSTEE 0.50 X 0 0 0 STEVEN F ROTH TRUSTEE 0.50 X 0 0 0 CAROLE BAYER SAGER TRUSTEE 0.50 X 0 0 0 FLORENCE SLOAN TRUSTEE 0.50 X 0 0 0 ERIC SMIDT TRUSTEE 0.50 X 0 0 0 MICHAEL G SMOOKE TRUSTEE 0.50 X 0 0 0 JONATHAN D SOKOLOFF TRUSTEE 0.50 X 0 0 0 STEVE TISCH TRUSTEE 0.50 X 0 0 0 CASEY WASSERMAN TRUSTEE 0.50 X 0 0 0 ELAINE P WYNN TRUSTEE 0.50 X 0 0 0 DASHA ZHUKOVA TRUSTEE 0.50 X 0 0 0 ANN ZIFF TRUSTEE 0.50 X 0 0 0 MICHAEL GOVAN CEO AND WALLIS ANNENBERG DIRECTOR 40.00 X 926039 171780 240360 FRED GOLDSTEIN SVP OF ADMINISTRATION & GENERAL COUNSEL 40.00 X 309284 0 62346 ANN ROWLAND CHIEF FINANCIAL OFFICER 40.00 X 75344 147217 130992 JANE BURRELL SVP, EDUCATION & PUBLIC PROGRAMS 40.00 X 145156 70105 80413 MARK MITCHELL BUDGET AND INVESTMENT OFFICER 40.00 X 203837 0 39319 THERESA MORELLO SVP, EXTERNAL AFFAIRS 40.00 X 272680 0 54635 NANCY THOMAS SR. DEPUTY DIRECTOR ART ADMIN AND COLLECTIONS 40.00 X 119829 116214 96812 DIANA VESGA CHIEF ADMINISTRATIVE OFFICER 40.00 X 237995 0 3344 STEPHANIE BARRON SENIOR CURATOR & DEPT HEAD 40.00 X 83817 100478 92923 MELISSA BOMES VP OF DEVELOPMENT 40.00 X 211388 0 24258 JOHN BOWSHER VP OF MUSEUM INFRASTRUCTURE 40.00 X 225519 0 46587 ZOE KAHR DEPUTY DIRECTOR OF EXHIBITIONS & PLANNING 40.00 X 179840 0 19381 KRISTEN SHEPHERD AVP, AUDIENCE STRATEGY & SERVICES 40.00 X 201053 0 15768 3191781 605794 907138 50 0 1 0 ALLIED BARTON SECURITY SERVICES EIGHT TOWER BRIDGE 161 WASHINGTON CONSHOHOCKEN PA 19428 SECURITY 6028457 ATELIER PETER ZUMTHOR & PARTNER ARCHITEKTURBURO SUSSWINKEL 20 HALDENSTEIN SZ CH-7023 ARCHITECTURE 2316686 US ART COMPANY INC 66 PACELLA PARK DR RANDOLPH MA 02368 SHIPPING & STORAGE 1584719 SODEXO INC & AFFILIATES 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 CUSTODIAL SERVICES 1204302 PATINA RESTAURANT GROUP LLC 1150 S OLIVE ST STE TGL LOS ANGELES CA 90015 CATERING 1123543 32 X 7247235 4096410 254784 46609674 6631178 58208103 COUNTY OPERATING CONTR 900099 22928875 22928875 ADMISSIONS 900099 5134302 5134302 EXHIBITION REVENUE 900099 2313544 2313544 PARKING REVENUE 900099 2163314 2163314 COLLECTION ITEMS SOLD 900099 1427078 1427078 2541161 2541161 36508274 761273 33884 727389 135929 135929 1642044 0 1642044 1642044 1642044 4300342 0 4300342 4300342 4300342 4433050 4096410 4446210 -13160 -13160 2338947 1296878 1042069 1042069 FOOD SERVICES 900099 432120 432120 FACILITY USE FEE 900099 144449 144449 HANDLING 900099 37978 37978 72586 72586 687133 103272007 37588321 33884 7441699 394136 394136 2412071 863420 1000664 547987 24414993 17844046 3575438 2995509 3376637 2420119 574329 382189 2733139 1889364 518172 325603 1820569 1300414 307454 212701 251827 5228 246177 422 71120 71120 831124 831124 10061811 8629579 1249897 182335 474314 421914 6670 45730 3851182 2906005 474875 470302 1183232 655125 414429 113678 49664 47842 322 1500 5117061 4813384 288035 15642 1447199 1296869 51832 98498 13447525 13447525 8030476 7581948 448528 1463646 1455916 5749 1981 ART ACQUISITION 16859941 16859941 CONSTRUCTION COSTS 5255864 5255864 ART INSTALLATION & PUBL 4511835 4511835 REMOTE ART PROJECTS 1896132 1896132 2928852 2084584 487324 356944 112884350 96581190 10552139 5751021 X 4928076 1730668 88327574 91592684 35734503 7513205 884660 894255 148247 137291 349592695 60036411 297724668 289556284 281885755 323560291 14778599 14186701 724412082 729171379 8588029 7710520 37811350 41215945 343000000 343000000 825000 2237462 63334234 74083393 453558613 468247320 X 108630437 97738567 140174953 141127245 22048079 22058247 270853469 260924059 724412082 729171379 X -9612343 9068542 -9385608 X X 0 1 X 1 0 X 37436219 40644892 42375861 70676397 58194943 249328312 37436219 40644892 42375861 70676397 58194943 249328312 21498930 227829382 2995424 2595913 2780527 4782532 6847983 20002379 19852 421711 33884 475447 538968 902903 850857 1150691 649155 4092574 273898712 178587609 0.83180 0.84490 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FACILITY USE FEE - 2010 AMOUNT: $ 250,530. 2011 AMOUNT: $ 437,953. 2012 AMOUNT: $ 353,563. 2013 AMOUNT: $ 464,524. 2014 AMOUNT: $ 144,449. OTHER REVENUE - 2010 AMOUNT: $ 113,351. 2011 AMOUNT: $ 191,167. 2012 AMOUNT: $ 89,439. 2013 AMOUNT: $ 132,245. 2014 AMOUNT: $ 72,586. FOOD SERVICES - 2010 AMOUNT: $ 175,087. 2011 AMOUNT: $ 273,783. 2012 AMOUNT: $ 407,855. 2013 AMOUNT: $ 553,922. 2014 AMOUNT: $ 432,120. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2974 2974 112881377 112884351 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 3512 500322 720 2974 507528 250000 250000 250000 250000 1000000 1500000 PART II-B, LINE 1: THE MUSEUM'S GENERAL COUNSEL COMMUNICATED WITH FEDERAL LEGISLATORS IN SUPPORT OF A PROPOSED LOS ANGELES METRO EXTENSION PROJECT AND IN SUPPORT OF AMENDING THE FOREIGN SOVERIGN IMMUNITIES ACT TO PROTECT FOREIGN SOVEREIGN LENDERS FROM THE JURISDICTION OF US COURTS ON THE SOLE BASIS OF LENDING. X X X X 1 1316.50 0 0 0 1 0 0.00 0 X X X X X PUBLIC EDUCATION 1 125521909 10168 6369796 6118927 125782946 115294358 34865 15578226 5385540 125521909 110803247 10764 10277456 5797109 115294358 117875345 966090 -2272933 5765255 110803247 106777939 8254 17012210 5923058 117875345 0.50900 0.17500 0.31600 0 0 35747913 35747913 303277925 50391769 252886156 10566857 9644642 922215 289556284 INTEREST RATE SWAPS 69125720 SPLIT-INTEREST AGREEMENT LIABILITIES 1464818 UNDERFUNDED PENSION LIABILITIES 3492855 74083393 102993616 9068542 -8919854 148688 102844928 427078 427078 103272006 97490164 465754 465754 97024410 15859941 15859941 112884351 PART II, LINE 5: THE MUSEUM MONITORS ITS EASEMENTS ON A CASE-BY-CASE BASIS BUT DOES NOT HAVE OFFICIAL PROCEDURES FOR SUCH MONITORING. EASEMENTS ARE NOT A PRIORITY OF THE MUSEUM AND ARE MADE ON A CASE-BY-CASE BASIS AND ONLY IF THEY SUPPORT LACMA'S MISSION. PART II, LINE 9: AS THERE IS NO FINANCIAL IMPACT, THE MUSEUM DOES NOT TREAT THIS CONSERVATION EASEMENT IN ITS FINANCIAL STATEMENTS. PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICES OF MANY MUSEUMS, ART OBJECTS PURCHASED OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. PART III, LINE 4: THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 130,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. PART V, LINE 4: THE EARNINGS OF THE MUSEUM'S ENDOWMENT FUNDS SUPPORT EDUCATION AND ART PROGRAMS, AND THE MISSION OF THE MUSEUM. PART XI, LINE 2D - OTHER ADJUSTMENTS: COGS 1,296,878. INVESTMENT MANAGEMENT FEES -983,124. UNREALIZED GAINS (LOSSES) - ON INTEREST RATE SWAP -9,385,608. PAID UBIT NETTED AGAINST INVESTMENT INCOME 152,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: COLLECTION ITEMS SOLD 1,427,078. DOUBTFUL PLEDGES -1,000,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS 1,296,878. INVESTMENT MANAGEMENT FEES -983,124. PAID UBIT NETTED AGAINST INVESTMENT INCOME 152,000. PART XII, LINE 4B - OTHER ADJUSTMENTS: COLLECTION ITEMS PURCHASED 16,859,941. DOUBTFUL PLEDGES -1,000,000. NORTH AMERICA 1 PROGRAM SERVICES CURATORIAL 37500 0 1 0 0 0 1 37500 0 37500 0 0 0 0 0 0 50TH ANNIVERSARY 4584104 2242314 2341790 2341790 ART & FILM GALA 3859577 1854095 2005482 2005482 3 85778 0 85778 98938 8529459 4096409 4433050 4446210 4446210 -13160 1 THE FILM FOUNDATION 7920 SUNSET BLVD 6TH FLOOR LOS ANGELES CA 90046 954244945 501(C)(3) 93500 CASH GRANTS N/A TO PRESERVE ART FILMS. THE NELSON GALLERY FOUNDATION 4525 OAK ST KANSAS CITY MO 64111 446012977 501(C)(3) 75159 CASH GRANTS N/A TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. THE ART INSTITUTE OF CHICAGO 111 SOUTH MICHIGAN AVE CHICAGO IL 60603 362167725 501(C)(3) 75159 CASH GRANTS N/A TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. THE MUSEUM OF FINE ARTS HOUSTON PO BOX 6826 HOUSTON TX 77265 741109655 501(C)(3) 75159 CASH GRANTS N/A TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. THE HIGH MUSEUM OF ART 1280 PEACHTREE ST NE ATLANTA GA 30309 580633971 501(C)(3) 75159 CASH GRANTS N/A TO ENCOURAGE DIVERSITY IN THE CURATORIAL AREA. 5 PART I, LINE 2: THE MUSEUM MONITORS THE USE OF GRANT FUNDS ON A CASE-BY-CASE BASIS BUT DOES NOT HAVE OFFICIAL PROCEDURES FOR SUCH MONITORING. GRANT MAKING IS NOT A PRIORITY OF THE MUSEUM. GRANTS ARE MADE ON A CASE-BY-CASE BASIS AND ONLY IF THEY SUPPORT LACMA'S MISSION. X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 MICHAEL GOVAN CEO AND WALLIS ANNENBERG DIRECTOR 819789 165072 0 0 106250 6708 119224 0 0 121136 1045263 292916 0 0 FRED GOLDSTEIN SVP OF ADMINISTRATION & GENERAL COUN 309284 0 0 0 0 0 56561 0 5785 0 371630 0 0 0 ANN ROWLAND CHIEF FINANCIAL OFFICER 75344 147217 0 0 0 0 18132 0 0 112860 93476 260077 0 0 JANE BURRELL SVP, EDUCATION & PUBLIC PROGRAMS 145156 70105 0 0 0 0 34933 0 0 45480 180089 115585 0 0 MARK MITCHELL BUDGET AND INVESTMENT OFFICER 203837 0 0 0 0 0 33534 0 5785 0 243156 0 0 0 THERESA MORELLO SVP, EXTERNAL AFFAIRS 272680 0 0 0 0 0 40554 0 14081 0 327315 0 0 0 NANCY THOMAS SR. DEPUTY DIRECTOR ART ADMIN AND CO 119829 116214 0 0 0 0 27619 0 0 69193 147448 185407 0 0 DIANA VESGA CHIEF ADMINISTRATIVE OFFICER 237595 0 0 0 400 0 3344 0 0 0 241339 0 0 0 STEPHANIE BARRON SENIOR CURATOR & DEPT HEAD 83817 100478 0 0 0 0 19346 0 0 73577 103163 174055 0 0 MELISSA BOMES VP OF DEVELOPMENT 210788 0 0 0 600 0 24258 0 0 0 235646 0 0 0 JOHN BOWSHER VP OF MUSEUM INFRASTRUCTURE 225519 0 0 0 0 0 40844 0 5743 0 272106 0 0 0 ZOE KAHR DEPUTY DIRECTOR OF EXHIBITIONS & PLA 179840 0 0 0 0 0 13738 0 5643 0 199221 0 0 0 KRISTEN SHEPHERD AVP, AUDIENCE STRATEGY & SERVICES 200282 0 0 0 771 0 9951 0 5817 0 216821 0 0 0 PART I, LINE 1A THE MUSEUM PROVIDES A HOUSE FOR THE DIRECTOR, THE IMPUTED VALUE OF WHICH IS SHOWN IN COLUMN B(III), ROW 1(I). THE MUSEUM PROVIDED FIRST CLASS TRAVEL FOR THE DIRECTOR IN SELECT INSTANCES WHERE A PARTICULAR CARRIER DID NOT HAVE BUSINESS CLASS SEATS AVAILABLE, TOTALING $35,449. A CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 630304653 13034ACQ1 2013-08-15 78000000 REFUNDING OF 2008 BONDS 0 0 0 B DIRECT PURCHASE - WELLS FARGO 13034ACT5 2013-08-15 115000000 REFUNDING OF 2008 BONDS 0 0 0 C DIRECT PURCHASE - UNION BANK LACM2013C 2013-08-15 100000000 REFUNDING OF 2008 BONDS 0 0 0 D DIRECT PURCHASE - US BANK LACM2013D 2013-08-15 50000000 REFUNDING OF 2008 BONDS 0 0 0 A 78000000 78000000 2010 1 0 0 1 B 115000000 115000000 2010 1 0 0 1 C 100000000 100000000 2010 1 0 0 1 D 50000000 50000000 2010 1 0 0 1 A 0 0 1 1 0 0 0 1 B 0 0 1 1 0 0 0 1 C 0 0 1 1 0 0 0 1 D 0 0 1 1 0 0 0 1 A 0 0 0 0 1 0 0 0 0 B 0 0 0 0 1 0 0 0 0 C 0 0 0 0 1 0 0 0 0 D 0 0 0 0 1 0 0 0 0 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, BOND ISSUES: (A) ISSUER NAME: CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2008 BONDS (A) ISSUER NAME: DIRECT PURCHASE - WELLS FARGO (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2008 BONDS (A) ISSUER NAME: DIRECT PURCHASE - UNION BANK (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2008 BONDS (A) ISSUER NAME: DIRECT PURCHASE - US BANK (F) DESCRIPTION OF PURPOSE: REFUNDING OF 2008 BONDS JOSHUA S FRIEDMAN TRUSTEE OF MUSEUM ASSOCIATES AND A CO-CHAIR OF THE FINANCE COMMITTEE. 141358 INV. MGMT FEESMR. FRIEDMAN IS ALSO A FOUNDER, CO-CHAIR AND CO-CHIEF EXECUTIVE OFFICER FOR CANYON CAPITAL ADVISORS LLC (CCA, LLC), AN INVESTMENT FIRM WHICH IS PAID FOR MANAGEMENT SERVICES FOR INVESTING FUNDS OF THE ORGANIZATION, WHICH ARE BASED IN PART, ON REVENUES FROM THE PERFORMANCE OF THESE INVESTMENTS. MUSEUM ASSOCIATES INVESTED WITH CCA, LLC IN 2005, FOUR YEARS PRIOR TO MR. FRIEDMAN JOINING THE BOARD. MUSEUM ASSOCIATES HAS NOT INVESTED ANY ADDITIONAL FUNDS IN CCA, LLC SINCE THE DATE OF THE INITIAL INVESTMENT. APPROXIMATELY 3% OF THE MUSEUM'S TOTAL PORTFOLIO IS INVESTED WITH MR. FRIEDMAN'S FIRM. 1 JONATHAN SOKOLOFF TRUSTEE OF MUSEUM ASSOCIATES 5381 INV. MGMT FEESMR. SOKOLOFF IS ALSO A MANAGING PARTNER OF LEONARD GREEN & PARTNERS L.P., AN INVESTMENT FIRM WHICH IS PAID FOR MANAGEMENT SERVICES FOR INVESTING FUNDS OF THE ORGANIZATION, WHICH ARE BASED IN PART, ON REVENUES FROM THE PERFORMANCE OF THESE INVESTMENTS. MUSEUM ASSOCIATES INVESTED WITH LEONARD GREEN & PARTNERS IN 2012, TWO AND A HALF YEARS PRIOR TO MR. SOKOLOFF JOINING THE BOARD. MUSEUM ASSOCIATES HAS MADE NO NEW INVESTMENT COMMITMENTS WITH LEONARD GREEN & PARTNERS SINCE THE DATE OF THE INITIAL INVESTMENT.LESS THAN 1% OF THE MUSEUM'S TOTAL PORTFOLIO IS INVESTED WITH MR. SOKOLOFF'S FIRM. 1 SUZANNE KAYNE TRUSTEE OF MUSEUM ASSOCIATES 100000 ARTWORK PURCHASESUZANNE KAYNE'S DAUGHTER, MAGGIE KAYNE, IS A PRINCIPAL OF KAYNE GRIFFIN CORCORAN GALLERY. THE MUSEUM PURCHASED A WORK OF ART FROM THE GALLERY AT A GREATER DISCOUNT THAN THE GALLERY'S STANDARD MUSEUM DISCOUNT. THE PURCHASE WAS REVIEWED AND APPROVED BY LACMA'S AUDIT COMMITTEE. 0 X 136 SEE PART II X 2 SEE PART II X 28 6631178 FMV OF AVG. STOCK VALUE 44 0 1 1 PART I, LINE 32B: THE MUSEUM USES BROKERS TO SELL SECURITIES AND USES AUCTION HOUSES AND ART DEALERS TO SELL WORKS ON CONSIGNMENT. PART I, LINE 33: IN CONFORMITY WITH THE PRACTICES OF MANY MUSEUMS, ART OBJECTS PURCHASED OR DONATED TO THE MUSEUM ARE NOT CAPITALIZED IN THE STATEMENT OF FINANCIAL POSITION. THE MUSEUM'S ART COLLECTION IS MADE UP OF ART OBJECTS THAT ARE HELD FOR EXHIBITION AND VARIOUS OTHER PROGRAM ACTIVITIES. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. FORM 990, PART I & PART III LINE 1, DESCRIPTION OF ORGANIZATION MISSION: TO SERVE THE PUBLIC THROUGH THE COLLECTION, CONSERVATION, EXHIBITION AND INTERPRETATION OF SIGNIFICANT WORKS OF ART FROM A BROAD RANGE OF CULTURES AND HISTORICAL PERIODS, AND THROUGH TRANSLATION OF THESE COLLECTIONS INTO MEANINGFUL EDUCATIONAL, AESTHETIC, INTELLECTUAL AND CULTURAL EXPERIENCES FOR THE WIDEST ARRAY OF AUDIENCES. THE LOS ANGELES COUNTY MUSEUM OF ART (THE "MUSEUM") IS THE PREMIER ENCYCLOPEDIC ART MUSEUM IN THE WESTERN UNITED STATES. THE MUSEUM'S COLLECTION OF MORE THAN 130,000 ARTWORKS FROM AROUND THE WORLD SPANS THE HISTORY OF ART, FROM ANCIENT TO CONTEMPORARY TIMES, INCLUDING ESPECIALLY STRONG COLLECTIONS OF ASIAN, LATIN AMERICAN, EUROPEAN, AND AMERICAN ART. THROUGH ITS VARIED COLLECTIONS, THE MUSEUM IS BOTH A RESOURCE TO AND A REFLECTION OF THE MANY CULTURAL COMMUNITIES AND HERITAGES IN SOUTHERN CALIFORNIA AND THROUGHOUT THE WORLD. THIS FISCAL YEAR, THE MUSEUM PRESENTED 47 EXHIBITIONS AND PERMANENT COLLECTION INSTALLATIONS, ACQUIRED 6,426 NEW WORKS OF ART, PROVIDED PROGRAMS FOR 93,399 SCHOOL CHILDREN. TOTAL ATTENDANCE AT THE MUSEUM WAS 1,166,920. FORM 990, PART I, LINE 19: WHILE REVENUE LESS EXPENSES FOR LINE 19 READS AS A DEFICIT OF $9,612,343, THE MUSEUM'S CASH FLOWS WERE ACTUALLY CONSIDERABLY BETTER THAN THIS, SINCE THIS NUMBER REFLECTS $12,836,611 OF BOND INTEREST AND FEES, WHICH WERE MORE THAN COVERED BY CASH PAYMENTS ON OUTSTANDING GIFT PLEDGES, $8,641,390 OF DEPRECIATION EXPENSE AND BOND ISSUANCE AMORTIZATION COSTS WHICH ARE NON-CASH ACCOUNTING CHARGES, AND EXCLUDES $9,102,426 OF UNREALIZED INVESTMENT GAINS, PART OF WHICH WAS USED TO SUPPORT OPERATIONS AS INTER-MEDIATED BY CASH FLOWS BETWEEN THE MUSEUM'S INVESTMENT PORTFOLIO AND WORKING CAPITAL. ADJUSTING FOR THESE ITEMS, LINE 19 WOULD SHOW A SURPLUS OF $20,976,479. FORM 990, PART 1, LINE 8: THE DECREASE IN CONTRIBUTIONS FROM FISCAL 14 TO FISCAL 15 IS ATTRIBUTABLE TO THE FACT THAT LACMA INITIATED ITS MOMENTUM CAMPAIGN IN FISCAL 14 AND RECOGNIZED LEAD GIFTS FOR THIS CAMPAIGN THAT YEAR. FORM 990, PART VI, SECTION A, LINE 1 THE MUSEUM'S BYLAWS ESTABLISH AN EXECUTIVE COMMITTEE AS ONE OF ITS STANDING COMMITTEES ELECTED ANNUALLY BY THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT, BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, ON BEHALF OF THE BOARD OF TRUSTEES, SUBJECT TO CERTAIN EXCEPTIONS, INCLUDING THOSE SET FORTH IN APPLICABLE STATE LAW. THE SCOPE OF THE COMMITTEE'S AUTHORITY, INCLUDING THE EXCEPTIONS THERETO, IS SET FORTH IN THE BYLAWS OF THE MUSEUM, WHICH ARE PUBLISHED ON THE MUSEUM'S WEBSITE. THE COMMITTEE IS COMPRISED OF THE CO-CHAIRS OF THE BOARD, THE CHAIRS OF EACH STANDING COMMITTEE OF THE BOARD AND OTHER TRUSTEES ELECTED BY THE BOARD. ALL MEMBERS OF THE COMMITTEE ARE VOTING TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY OUTSIDE TAX ACCOUNTANTS AND REVIEWED AND APPROVED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. ONCE APPROVED BY THE AUDIT COMMITTEE, THE AUDIT COMMITTEE REPORTS TO THE FULL BOARD OF TRUSTEES AND THE RETURN IS MADE AVAILABLE TO THE REST OF THE BOARD BEFORE IT IS ELECTRONICALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CHAIRMAN OF THE AUDIT COMMITTEE SENDS AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM TO EACH TRUSTEE, AND, WITH THE OFFICE OF GENERAL COUNSEL, MONITORS RESPONSES AND FOLLOWS UP WITH TRUSTEES TO ACHIEVE AS HIGH A RESPONSE RATE AS POSSIBLE. THE OFFICE OF GENERAL COUNSEL REVIEWS THESE FORMS AND REPORTS SIGNIFICANT CONFLICTS TO THE AUDIT COMMITTEE, WHICH REVIEWS ANY SPECIFIC TRANSACTIONS THAT MIGHT INVOLVE A CONFLICT OF INTEREST WITH A TRUSTEE. THE DIRECTOR OF THE MUSEUM SENDS KEY EMPLOYEES AND OTHERS AN ANNUAL CONFLICT OF INTEREST FORM, WHICH KEY EMPLOYEES ARE REQUIRED TO COMPLETE AND RETURN TO THE GENERAL COUNSEL, WHO REVIEWS SUCH FORMS FOR POSSIBLE CONFLICTS AND MONITORS COMPLIANCE WITH LACMA'S ETHICS POLICY INCLUDING THE CONFLICT OF INTEREST POLICIES CONTAINED IN THE ETHICS POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE CEO AND DIRECTOR OF LACMA IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, WITHIN THE PARAMETERS ESTABLISHED BY THE EMPLOYMENT AGREEMENT ENTERED INTO BY LACMA AND THE CEO AND DIRECTOR IN 2010. THE DIRECTOR ANNUALLY DETERMINES THE COMPENSATION OF EACH OF THE OTHER OFFICERS AND KEY EMPLOYEES. IN EACH CASE, THE COMPENSATION IS BASED ON (1) THE EMPLOYEE'S PERFORMANCE DURING THE PRIOR YEAR; (2) THE CONTEXT OF LACMA'S OVERALL OPERATING BUDGET; AND (3) COMPARABILITY DATA FOR PERSONS HOLDING SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. SUCH COMPARABILITY DATA IS GENERALLY PREPARED BY SENIOR MANAGEMENT, INCLUDING THE CHIEF FINANCIAL OFFICER AND THE DIRECTOR OF HUMAN RESOURCES AND INCLUDES A REVIEW OF PUBLICLY FILED FORMS 990 OF OTHER INSTITUTIONS. ONCE COMPENSATION OF THE CEO IS APPROVED BY THE EXECUTIVE COMMITTEE, BASED ON THE INFORMATION AND COMPARABILITY DATA DESCRIBED ABOVE, THE EXECUTIVE COMMITTEE'S RECOMMENDATION, AS WELL AS THE PROPOSED COMPENSATION FOR ALL OTHER OFFICERS AND KEY EMPLOYEES, THE UNDERLYING DATA, INCLUDING THE PERFORMANCE REVIEWS AND COMPARABILITY ANALYSES, ARE PRESENTED TO THE AUDIT COMMITTEE, TO DETERMINE WHETHER, IN THE AUDIT COMMITTEE'S JUDGMENT, SUCH PROPOSED COMPENSATION IS APPROPRIATE, FAIR AND REASONABLE TO LACMA. THE FINAL RECOMMENDATION OF THE EXECUTIVE COMMITTEE AND AUDIT COMMITTEE IS REPORTED TO THE FULL BOARD OF TRUSTEES AT ITS NEXT REGULARLY SCHEDULED MEETING AND SUBMITTED TO THE FULL BOARD FOR APPROVAL. ALL MEMBERS OF THE AUDIT COMMITTEE ARE INDEPENDENT TRUSTEES OF LACMA. NOTE THAT LACMA DOES NOT HAVE A SEPARATE "COMPENSATION COMMITTEE." FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND ON THE MUSEUM'S WEBSITE. PART VII, SECTION A & SCHEDULE J, PART II ALTHOUGH THE COUNTY OF LOS ANGELES IS NOT A "RELATED ORGANIZATION", COMPENSATION PAID BY THE COUNTY OF LOS ANGELES TO CERTAIN OFFICERS AND EMPLOYEES OF THE MUSEUM LISTED IN PART VII AND SCHEDULE J IS INCLUDED IN THE INTEREST OF TRANSPARENCY AND FULL DISCLOSURE. FORM 990, PART VIII, LINE 7A: PROCEEDS FROM SALE OF SECURITIES: LACMA HAS INVESTMENT ACCOUNTS AND HEDGE FUNDS WITH MANY STOCK TRANSACTIONS. DUE TO THE LARGE QUANTITY OF STOCK TRANSACTIONS, THIS INFORMATION IS NOT INCLUDED IN THE RETURN. FORM 990, PART X, LINE 25: THE INCREASE IN OTHER LIABILITIES IS PRINCIPALLY TIED TO AN UNREALIZED DROP IN THE VALUE OF AN INTEREST RATE SWAP. THIS SWAP WILL SELF LIQUIDATE OVER THE DURATION OF MUSEUM DEBT AND THEREFORE DOES NOT REPRESENT AN IMMEDIATE NON-DISCRETIONARY CLAIM ON MUSEUM RESOURCES. FORM 990, PART XI, LINE 9: UNREALIZED GAINS (LOSSES) ON INTEREST RATE SWAP -9,385,608. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT. CRT (2) 5905 WILSHIRE BLVD LOS ANGELES CA 90036 TRUST CA N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0