2015-05-11T11:06:54-05:00 2014-06-30 135565207 KPMG LLP 1676 INTERNATIONAL DRIVE MCLEAN VA 22102 990 2013-07-01 231365388 Philadelphia Museum of Art PHIL 2157638100 PO Box 7646 Philadelphia PA 191017646 ROBERT T RAMBO CFO 2156847801 2015-05-11 1 P00634378 7032868000 2013 2016-02-25 16:41:14Z Timothy Rub PO Box 7646 Philadelphia PA 191017646 161428631 0 X www.philamuseum.org X 1876 PA Collecting, maintaining and displaying works of art. 70 68 668 417 273118 0 62753499 74214787 6860888 6227228 8151570 21880828 4798793 2780756 82564750 105103599 0 0 0 0 26469348 27489515 426208 438202 4885237 38528728 36425014 65424284 64352731 17140466 40750868 782570898 871523013 88676995 78960652 693893903 792562361 X See Schedule O.The Philadelphia Museum of Art in partnership with the city, the region and art museums around the globe - seeks to preserve, enhance, interpret and extend the reach of its great collections in particular and the visual arts in general, to an increasing and increasingly diverse audience as a source of delight, illumination, and lifelong learning. 0 0 2530948 784658 The acquisition of approximately 65 works of art for display in the Museum, serving the general public. 1661259 305063 Special exhibition -Leger: Modern Art and the Metropolis was an interdisciplinary exhibition that shed new light on the vitally experimental decade of the 1920s in Paris when the great French modernist Fernand Leger played a leading role in redefining the practice of painting by bringing it into active engagement with the urban environment and modern mass media. This was the first exhibition to take as its inspiration and focus Leger's monumental painting The City (1919), a cornerstone of the Philadelphia Museum of Art's collection and a landmark in the history of modern art, placing it in dialogue with the urban art and culture of modernity. 3220675 434235 Education programs for children, disabled, and general public to provide a better understanding of Museum's collection & art in general. Program attendance - 199,902. 2267400 Conservation of works of art - restoration, repair and preservation of various objects in the collections during fiscal year 2014. 18457868 Security & maintenance 7177174 Curatorial and collections activities 1649283 1431495 Museum shop operating expenses 1419220 Marketing 3353864 633302 Various special exhibitions 1746332 102813 Various publications 3196050 4367211 Membership and visitor services 319580 106348 Rights & reproductions and photography 507462 278256 Group sales and special events 2102475 Information services, audio visual and telecommunications 972859 Library and community programs 43169567 6919425 50582449 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 254 0 1 668 1 1 1 0 0 0 0 1 1 0 0 0 0 X 70 68 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA NJ NY CT FL CA X Robert T Rambo 2156847801 2525 Pennsylvania Avenue Philadelphia PA 19130 Timothy F Rub Director and CEO 35.00 X X 630518 0 38740 Gail M Harrity President and COO 35.00 X X 362507 0 27852 John R Alchin Trustee 1.00 X 0 0 0 Dennis Alter Trustee 1.00 X 0 0 0 Barbara Aronson Trustee 1.00 X 0 0 0 Sheldon M Bonovitz Trustee 1.00 X 0 0 0 Ira Brind Trustee 1.00 X 0 0 0 Julian Brodsky Trustee 1.00 X 0 0 0 Priscilla S Brown Trustee 1.00 X 0 0 0 Renee Chenault-Fattah Trustee 1.00 X 0 0 0 Dr Constance E Clayton Trustee 1.00 X 0 0 0 Peter D Davenport Trustee 1.00 X 0 0 0 Hon Nelson A Diaz Trustee 1.00 X 0 0 0 John G Drosdick Trustee 1.00 X 0 0 0 Edward Fernberger Jr Trustee 1.00 X 0 0 0 Jaimie Spector Field Trustee 1.00 X 0 0 0 Penny Fox Trustee 1.00 X 0 0 0 Mrs Jack M Friedland Trustee 1.00 X 0 0 0 David Haas Trustee 1.00 X 0 0 0 Lynne Honickman Trustee 1.00 X 0 0 0 Joan M Johnson Trustee 1.00 X 0 0 0 Berton E Korman Trustee 1.00 X 0 0 0 Ronald P Lassin Trustee 1.00 X 0 0 0 Victoria McNeil Le Vine Trustee 1.00 X 0 0 0 Maxine Lewis Trustee 1.00 X 0 0 0 Mary Patterson McPherson Trustee 1.00 X 0 0 0 John J Medveckis Trustee 1.00 X 0 0 0 Martha Hamilton Morris Trustee 1.00 X 0 0 0 John A Nyheim Trustee 1.00 X 0 0 0 Raymond G Perelman Trustee 1.00 X 0 0 0 Lynda Resnick Trustee 1.00 X 0 0 0 Mark E Rubenstein Trustee 1.00 X 0 0 0 Keith L Sachs Trustee 1.00 X 0 0 0 David William Seltzer Trustee 1.00 X 0 0 0 Martha McGeary Snider Trustee 1.00 X 0 0 0 Marion Stroud Swingle Trustee 1.00 X 0 0 0 Bruce E Toll Trustee 1.00 X 0 0 0 Constance H Williams Trustee 1.00 X 0 0 0 Dr John T Williams Trustee 1.00 X 0 0 0 Jerry Wind Trustee 1.00 X 0 0 0 Charles K Williams II Trustee 1.00 X 0 0 0 Mickey Cartin Trustee 1.00 X 0 0 0 H Richard Dietrich III Trustee 1.00 X 0 0 0 Dr Donald B Parks Trustee 1.00 X 0 0 0 Lyn M Ross Trustee 1.00 X 0 0 0 Tom Corbett Trustee Ex Officio 1.00 X 0 0 0 Michael A Nutter Trustee Ex Officio 1.00 X 0 0 0 Darell L Clark Trustee Ex Officio 1.00 X 0 0 0 Charles J Ingersoll Trustee Ex Officio-term ended 1.00 X 0 0 0 Anja Levitties Trustee Ex Officio 1.00 X 0 0 0 Liz Price Trustee Ex Officio-term ended 1.00 X 0 0 0 Peter H Goodhart Trustee Ex Officio-term ended 1.00 X 0 0 0 Marsha W Rothman Trustee 1.00 X 0 0 0 Gretchen Burke Trustee 1.00 X 0 0 0 Angelica Zander Rudenstine Trustee 1.00 X 0 0 0 Joan F Thalheimer Trustee 1.00 X 0 0 0 Marta Adelson Trustee 1.00 X 0 0 0 Osagie O Imasogie Trustee 1.00 X 0 0 0 Leslie A Miller Trustee 1.00 X 0 0 0 Pia Roy Chowdhury Trustee 1.00 X 0 0 0 Sueyun Locks Trustee 1.00 X 0 0 0 Dean C Pappas Trustee 1.00 X 0 0 0 Orlando Esposito Trustee Ex Officio 1.00 X 0 0 0 Andrea M Baldeck MD Trustee 1.00 X 0 0 0 Kimberley H Gray Trustee 1.00 X 0 0 0 Anne F Hamilton Trustee 1.00 X 0 0 0 Larry Magid Trustee 1.00 X 0 0 0 Bonnie F McCausland Trustee 1.00 X 0 0 0 Ajay Raju Trustee 1.00 X 0 0 0 Regina H Pakradooni Trustee Ex Officio 1.00 X 0 0 0 Dr Jolley B Christman Trustee Ex Officio 1.00 1.00 X 0 0 0 James D Pagliaro Esq Trustee Ex Officio 1.00 X 0 0 0 Zoe S Pappas Trustee Ex Officio 1.00 X 0 0 0 Robert T Rambo CFO 35.00 1.00 X 251136 0 27665 Lawrence Berger Secretary 35.00 X 159204 0 22101 Alice Beamesderfer Deputy Director for Collec 35.00 1.00 X 158384 0 23038 Kelly M O'Brien Director of Development 35.00 X 211651 0 22605 Ali Shaikholislami Director of Engineering&Fa 35.00 X 172108 0 15095 Robin E Proctor Director of Human Resource 35.00 X 143096 0 22311 David Blackman Deputy Director of Develop 35.00 X 175243 0 23291 Julie P Havel Deputy Director of Develop 35.00 X 152251 0 10250 William Weinstein Director of IIT 35.00 X 136826 0 19833 Jennifer Francis Director of Marketing and Communications 35.00 X 170612 0 7819 2723536 0 260600 26 0 1 0 Gehry Partners LLP 12541 Beatrice Street Los Angeles CA 90066 Architects 10929918 Allied Barton Security Services 161 Washington Street Suite 600 Conshohocken PA 19428 Security 4271131 CAMBRIDGE ASSOCIATES LLC 125 High Street Boston MA 02110 Investment 772173 AEGIS PROPERTY GROUP 1600 MARKET STREET SUITE 1701 Philadelphia PA 19103 Project Management 575527 LF Driscoll Co 9 PRESIDENTIAL BOULEVARD Bala Cynwyd PA 19004 Construction 436822 10 5197755 5879353 63137679 7251078 74214787 Admissions 900099 3890785 3890785 Parking revenues 812930 674974 674974 Education programs 611710 434235 434235 Concession fees 900099 355442 355442 Rental of space 900099 235179 235179 636613 636613 6227228 6138055 273118 5864937 70933192 55190419 15742773 15742773 15742773 2566108 1134613 1431495 1431495 Sale of art objects 900099 784658 784658 Miscellaneous 900099 564603 564603 1349261 105103599 7412965 273118 23202729 1631235 713101 918134 20344353 16488382 1462505 2393466 834871 672448 86954 75469 2888366 2475026 172230 241110 1790690 1403332 191059 196299 81194 81194 75074 75074 84904 84904 438202 438202 3437532 3437532 1409381 1409381 1993692 1509949 157683 326060 325890 253440 39110 33340 8347397 7853319 311843 182235 446941 384905 55375 6661 44416 19646 24770 689358 503717 154375 31266 7902723 7405642 313738 183343 999372 312301 686333 738 Special exhibitions 3505470 3505470 Acquisitions 2530948 2530948 Education, library & co 1352427 1352427 Fundraising programs 750785 750785 2447510 1704111 741906 1493 64352731 50582449 8885045 4885237 69402097 64052802 49573230 69857879 1187795 1842395 2546099 2484550 3533196 3869007 335759108 69234512 264469235 266524596 76158596 97146705 305882891 354321588 9817759 11423491 782570898 871523013 18063562 12346359 1236697 1047706 60690000 58535000 8686736 7031587 88676995 78960652 X 302334676 317115526 115072746 177780293 276486481 297666542 693893903 792562361 782570898 871523013 X 40750868 58679098 -761508 X 0 1 X 1 1 1 X 67601617 43990030 56421946 62753499 74214787 304981879 2825000 3200000 2950000 2900000 3500000 15375000 70426617 47190030 59371946 65653499 77714787 320356879 36495900 283860979 5885724 5696226 5088986 5490000 6138055 28298991 348655870 55462130 0.81420 0.81440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 100102 100102 64252629 64352731 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 113144 106065 96658 100102 415969 250000 250000 250000 250000 1000000 1500000 X X X X 0 382041487 16033508 72934553 19541255 451468293 345353338 8051322 47045120 18408293 382041487 363013624 8723595 -9138864 17245017 345353338 306840267 8274320 64541782 16642745 363013624 268481033 17464919 37345507 16451192 306840267 0.19870 0.80130 1 0 2983347 2983347 284814242 62409718 222404524 12484218 6824794 5659424 35477301 35477301 266524596 Limited partnerships and other 36737329 F Global bond funds 20802031 F US stock funds 36095097 F Global stock funds 45106970 F Global(exUS)developed mkts stock fds 53298634 F Global(exUS)emerging mkts stock fds 32926440 F Hedge funds 94587648 F Private equity & venture capital fds 34767439 F 354321588 Obligations under split-interest agreements 2280522 Contractual obligations 4751065 7031587 X 164979778 58679098 3500000 1134613 63313711 101666067 3437532 3437532 105103599 66311320 3500000 1896121 5396121 60915199 3437532 3437532 64352731 Part III, Line 1a: The collections, which were acquired through purchases and contributions since the Museum's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Unexpended proceeds from deaccessions are reflected in the unrestricted net asset class. Their use is limited, however, by museum professional standards, which require that such proceeds be made available solely for acquisition of other art objects. Part III, Line 4: The Museum is home to over 227,000 objects, spanning the creative achievements of the Western world since the first century AD and those of Asia since the third millennium BC. The European holdings date from the Medieval era to the present, and the collection of arms and armor is the second largest in the United States. The American collections are among the finest in the country, as are the expanding collections of modern and contemporary art. In addition, the Museum houses encyclopedic holdings of costume and textiles as well as prints, drawings, and photographs that are displayed in rotation for reasons of preservation. Part V, Line 4: The endowment is used to maintain the collection of artwork and to acquire future works of art that enhance and promote the mission of the Philadelphia Museum of Art. Part X, Line 2: The Museum has been recognized by the Internal Revenue Service as exempt from federal income tax under Section 501(c)(3) of the U.S. Internal Revenue Code, except for taxes on income from activities unrelated to its exempt purpose. Accordingly, no provision for income taxes has been made in the accompanying financial statements. Accounting principles generally accepted in the United States require management to evaluate tax positions taken by the Museum and recognize a tax liability (or asset) if the museum has an uncertain tax position that more likely than not would not be sustained upon examination by the IRS. Management has concluded that as of June 30, 2014, there are no uncertain tax positions taken or expected to be taken by the Museum that would require recognition of a liability (or asset) or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Cost of goods sold 1,134,613. Part XII, Line 2d - Other Adjustments: Cost of goods sold 1,134,613. Change in FMV of interest rate exchange agreements 761,508. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 68514169 EUROPE 0 0 INVESTMENTS 8359561 0 0 0 0 0 0 76873730 0 76873730 1 0 1 1 1 0 X X X X X X 1 GRENZEBACH GLIER & ASSOCIATES INC 401 N MICHIGAN AVENUE SUITE 2800 CHICAGO IL 60611 CONSULTANT 0 0 176708 -176708 WINSPER 101 ARCH STREETSUITE 240 BOSTON MA 02110 CONSULTANT 0 0 261494 -261494 438202 -438202 PA NJ NY CT FL CA Schedule G, Part I, Line 2b, Column (v) CONSULTING SERVICES X X X X 0 0 0 0 0 0 0 1 0 Timothy F Rub Director and CEO 505726 0 123157 0 1635 0 12750 0 25990 0 669258 0 0 0 Gail M Harrity President and COO 360527 0 0 0 1980 0 12750 0 15102 0 390359 0 0 0 Robert T Rambo CFO 247326 0 0 0 3810 0 12563 0 15102 0 278801 0 0 0 Lawrence Berger Secretary 156308 0 0 0 2896 0 7187 0 14914 0 181305 0 0 0 Alice Beamesderfer Deputy Director for Collec 156848 0 0 0 1536 0 8115 0 14923 0 181422 0 0 0 Kelly M O'Brien Director of Development 211201 0 0 0 450 0 7503 0 15102 0 234256 0 0 0 Ali Shaikholislami Director of Engineering&Fa 170441 0 0 0 1667 0 8669 0 6426 0 187203 0 0 0 Robin E Proctor Director of Human Resource 142198 0 0 0 898 0 7447 0 14864 0 165407 0 0 0 David Blackman Deputy Director of Develop 174686 0 0 0 557 0 8375 0 14916 0 198534 0 0 0 Julie P Havel Deputy Director of Develop 152058 0 0 0 193 0 6673 0 3577 0 162501 0 0 0 William Weinstein Director of IIT 136159 0 0 0 667 0 5003 0 14830 0 156659 0 0 0 Jennifer Francis Director of Marketing and Communicat 170038 0 0 0 574 0 1401 0 6418 0 178431 0 0 0 Part I, Line 7 Timothy F. Rub received a payment in the amount of $123,157 included in his 2013 Form W-2 from a deferred compensation agreement under IRC Section 457(f). The payment is in accordance with an employment retention agreement for Mr. Rub's services. A Philadelphia Authority for Industrial Development 232237287 7178184U9 2010-06-23 66820000 Reissuance of Revenue Bonds(Philadelphia Museum of Art Project)Series 2008 0 0 0 A 66820000 66820000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 1 0 0 0 0 A 0 Schedule K, Part IV, Line 2(a) Not required until 6/22/2015 X 2152 X 84 7251078 Market Value 43 0 0 0 Form 990, Part VI, Section A, line 2 Dean C. Pappas, Trustee, and Zoe S. Pappas, Trustee Ex Officio, have a family relationship. Form 990, Part VI, Section A, line 6 The Members of the Corporation consist of (i) the Elected Trustees, (ii) the Trustees Ex. Officio, (iii) the Honorary Trustees, and (iv) those persons who have contributed services, property or funds to the corporation in such minimum amount or value as the Board of Trustee may establish from time to time by resolution of the Board. The Elected Trustee shall be elected by the Members of the Corporation at the annual meeting of the Members of the Corporation. Form 990, Part VI, Section A, line 7a The Members of the Corporation consist of (i) the Elected Trustees, (ii) the Trustees Ex. Officio, (iii) the Honorary Trustees, and (iv) those persons who have contributed services, property or funds to the corporation in such minimum amount or value as the Board of Trustee may establish from time to time by resolution of the Board. The Elected Trustee shall be elected by the Members of the Corporation at the annual meeting of the Members of the Corporation. Form 990, Part VI, Section A, line 7b The Members of the Corporation consist of (i) the Elected Trustees, (ii) the Trustees Ex. Officio, (iii) the Honorary Trustees, and (iv) those persons who have contributed services, property or funds to the corporation in such minimum amount or value as the Board of Trustee may establish from time to time by resolution of the Board. The Elected Trustee shall be elected by the Members of the Corporation at the annual meeting of the Members of the Corporation. The Members of the Corporation may amend the bylaws of the Corporation. Form 990, Part VI, Section B, line 11 Form 990 is prepared by the Museum's Finance Department. The return is reviewed by management and outside independent tax advisors. The return is made available to all trustees for review prior to it being filed with Internal Revenue Service. Form 990, Part VI, Section B, line 12c The Museum's Conflict of Interest Policy is reviewed and updated periodically by The Museum's Board of Trustees. The Museum's Board of Trustees and Officers complete an Annual Related Party Questionnaire. The Museum's Conflict of Interest Policy requires, among other things, that trustees and officers disclose conflicts and potential conflicts and that interested parties not participate in any vote to consider a transaction that might constitute a conflict. Form 990, Part VI, Section B, line 15 The process the Museum uses to establish compensation for officers and key employees includes a complete review of executive compensation levels by the Museum's independent Compensation subcommittee. The review is based on a market analysis prepared by the Museum's Finance department under the direction and supervision of the Compensation subcommittee using published compensation surveys and available tax returns for Not-for-profit organizations comparable in scope and size to the Philadelphia Museum of Art. The Compensation subcommittee contemporaneously documents the results of the deliberations and decisions in the minutes. Form 990, Part VI, Section C, line 19 The Museum's Form 990 is posted annually on the website www.guidestar.org. The Museum also publishes an annual report, which includes the audited Statement of Financial Position, Statement of Activities and Statement of Cash Flows. Commencing in 2011, the Museum's Annual Report and Audited Financial Statements are posted on its website. The Museum's governing documents and conflict of interest policy are available upon request. Form 990, Part XI, line 9: Change in fair value of interest rate exchange agreement -761,508. The Anne H & Frederick Vogel III Collection for Philadelphia Museum of Art PO Box 7646 Philadelphia PA 19101 364459089 Assembling a collection of American Furniture & Decorative Art for PMA. PA 501(c)3 509(a)(3) I Philadelphia Museum of Art 1 Samuel S Fleisher Art Memorial PO Box 7646 Philadelphia PA 19101 232249360 Operate and maintain a school of art and museum. PA 501(c)3 9 N/A 0 Foundation for Self-Taught American Artists 30 South 17th Street 12th Floor Philadelphia PA 19103 202097461 Document the work of self-taught American artists PA 501(c)3 9 N/A 0 Charitable Remainder Trusts - PA (4) CHARITABLE TRUST PA N/A T 0 Charitable Remainder Trusts - NC (3) CHARITABLE TRUST NC N/A T 0 Charitable Remainder Trusts - NY (1) CHARITABLE TRUST NY N/A T 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 Charitable Remainder Trusts - PA (2) A 126613 FMV Charitable Remainder Trusts - NC (3) A 41637 FMV