2015-10-29T08:51:04-05:00 2014-12-31 510232475 Cover & Rossiter PA 62 Rockford Road Suite 200 Wilmington DE 19806 990 2014-01-01 510070531 Eleutherian Mills-Hagley Foundation Inc ELEU 3026582400 PO Box 3630 Wilmington DE 198070630 Jeanne Belk Finance Director 3026582400 2015-10-27 1 Peter Kennedy P00571422 3026566632 2015-10-27 2014 2016-02-25 16:41:14Z Jeanne Belk PO Box 3630 Wilmington DE 198070630 22059363 0 X www.hagley.org X 1952 DE Hagley Museum and Library collects, preserves, and interprets the unfolding history of American enterprise. 16 16 170 513 27000 -9505 2047710 1668957 683021 698722 7125047 8119825 289905 305318 10145683 10792822 36450 40950 0 0 5367186 5517990 0 0 216418 4250397 4472714 9654033 10031654 491650 761168 165512302 165289985 365610 358420 165146692 164931565 X At Hagley, we invite people of all ages to investigate and experience the unfolding history of American business, technology, and innovation, and its impact on the world, from our home at the historic DuPont powder yards on the banks of the Brandywine. 0 0 4586401 571877 Hagley Museum's primary audiences are cultural tourists traveling on their own; school groups participating in our curriculum based education programs; adult motor coach tours and families attending special events. In 2014 total attendance was 65,479, consisting of 19,848 general admission; 12,618 school and youth tours; 3,221 adult tours; and 29,792 special event admissions. 3718860 40950 36924 Hagley's Research Library responded to over 4,958 research visits and inquiries in 2014, resulting in a total of 15,690 reference transactions. The Imprints department answered requests from 1,457 individuals, utilizing 3,969 rare books and trade catalogues. The Manuscripts and Archives department responded to questions from 2,228 researchers, utilizing 4,971 linear feet of material. The Pictorial department responded to 1,273 researchers using 433 collections. The Digital Collections department saw 690,678 page visits. Staff catalogued 3,016 books and collection items and processed 753 linear feet of manuscripts, archives or pictorial collections. Cataloguing staff contributed 1,703 authority records to the national database. Our Conservation Lab extended 8,299 treatments to Library Division materials. Overall, the Library produced six exhibitions and also provided support for the content and design of the Museum's upcoming exhibit "Driving Desire", based on material from the Z. Taylor Vinson collection. The Center for History of Business, Technology and Science funded 68 grant applications; entered into a three-year agreement with the University of Virginia Miller Center of Public Affairs to share the costs for one-year dissertation fellowship; held five public author talks, of which some enjoyed an attendance of several hundred; held six seminars; maintained two book series with the University of Pennsylvania Press and the Johns Hopkins University Press; and organized the Business History Conference annual meeting. Our public events of conferences, lectures and tours exposed Hagley to more than 1,737 visitors. 125115 197843 The Hagley Associates Program works to support the Hagley mission through membership sales. Approximately 2,700 families and individuals enjoy special events, lectures and exhibit previews as well as have access to Hagley's facilities year round. 8430376 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 55 0 1 170 1 1 1 1 UK 0 0 0 0 0 0 0 0 X 16 16 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Business Office 3026582400 298 Buck Road East Wilmington DE 198070630 Henry B du Pont IV President/Trustee 3.00 X X 0 0 0 Howard E Cosgrove Vice-President/Trustee 1.00 X X 0 0 0 Ann C Rose Secretary/Trustee 1.00 X X 0 0 0 Augustus I du Pont Treasurer/Trustee 1.00 X X 0 0 0 E Matthew Brown Trustee 1.00 X 0 0 0 Edward J Bassett Trustee 1.00 X 0 0 0 Carol A Ammon Trustee 1.00 X 0 0 0 Edward B du Pont President Emeritus 1.00 X 0 0 0 Thomas M Connelly Jr Trustee 1.00 X 0 0 0 Blaine T Phillips Trustee 1.00 X 0 0 0 Robert V A Harra Jr Trustee 1.00 X 0 0 0 Charles M Elson Trustee 1.00 X 0 0 0 Darla L Pomeroy Trustee 1.00 X 0 0 0 M Gary Talley Trustee 1.00 X 0 0 0 JoAnne Yates Trustee 1.00 X 0 0 0 Steven W Usselman Trustee 1.00 X 0 0 0 David Cole Director 35.00 X 160248 0 21997 Marjorie P Kelly Assistant Secretary 35.00 X 42974 0 18071 Jeanne L Belk Finance Director; Asst. Tr 35.00 X 83835 0 26865 Joan Hoge-North Director, Museum Services 35.00 X 110317 0 8800 397374 0 75733 2 0 1 0 Cambridge Associates LLC PO Box 10317 Uniondale NY 11555 Investment Management 153625 Wm M Dunleavy & Co Inc PO Box 881 West Chester PA 19381 Roofing Contractor 142189 2 1668957 53064 1668957 Special Events Revenue 900099 415293 415293 Admissions 900099 283429 283429 698722 3840317 3840317 34326 34326 215814 45418 170396 170396 170396 15428699 11149191 4279508 4279508 4279508 135604 71932 63672 36672 27000 Miscellaneous Visitor & Photocopy 900099 36924 36924 36924 10792822 806644 27000 8290221 40950 40950 474712 313098 161614 3903679 3677775 167592 58312 277309 207602 51255 18452 550028 443356 61344 45328 312262 294368 15852 2042 15912 15912 35000 35000 605029 605029 120806 75974 29146 15686 157428 157428 321864 226866 34847 60151 1097960 983282 109576 5102 58931 42465 12197 4269 988563 988563 339652 283043 49533 7076 Restricted Expenses App 384253 348766 35487 Special Events Producti 202073 202073 Library Division 143239 143239 Miscellaneous expense 2004 1528 476 10031654 8430376 1384860 216418 1669225 1664864 684325 554891 15997 103506 95148 96121 447703 497232 35596419 18505562 17520762 17090857 103711160 101408188 41367982 43874326 165512302 165289985 178844 181098 71140 86578 115626 90744 365610 358420 X 125599256 125158787 16377303 16483829 23170133 23288949 165146692 164931565 165512302 165289985 X 761168 -1340871 364576 X X 0 1 X 1 0 X 2086568 1527619 1553840 2047710 1668957 8884694 2086568 1527619 1553840 2047710 1668957 8884694 2205218 6679476 2217048 2195371 2175665 2089233 3874643 12551960 21436654 4112262 0.31160 0.32580 X Schedule A Page 2 Part II, Section C, Line 17a The Eleutherian Mills-Hagley Foundation, a nonstock, not-for-profit educational corporation was incorporated in the State of Delaware on November 3, 1952. Donations of property were made at that time and subsequently by eight different donors totaling approximately 235 acres. The Eleutherian Mills-Hagley Foundation gave notice of intent to terminate Private Foundation status under section 507(b)(1)(B) for a sixty month period beginning January 1, 1975 through December 31, 1980. Notification was received from the Internal Revenue Service on June 5, 1980 that the Foundation had been classified an organization described in Section 509 (a)(1) and 170(b)(1)(A)(vi), "under the facts and circumstance test". Hagley's property has been an industrial site since at least the beginning of the nineteenth century, and contains approximately 85 buildings and 93 site structures of varying size and condition of repair, relating to industrial and residential life of the 19th and early 20th centuries. The Hagley Museum and Library was opened to the public in 1957 and since that time visitation has totaled 5,200,000. It is presently open to the public 363 days a year. Hagley Museum holds 60,000 objects, including a large collection of U.S. patent models, early American furniture and textiles, and a major collection of advertising art. Museum programs include special tours for school groups conducted by a corps of professionally trained guides. The Library at Hagley traces its origins to the old Longwood Library that was established by Pierre S. du Pont in 1954. In 1961 it merged with the Hagley Museum and moved to its present site on the banks of the Brandywine. Today its research collections hold the archives of more than 1,000 businesses in more than 38,000 linear feet of manuscript records, more than 290,000 published sources, more than 2 million audiovisual items, and more than 320,000 digital artifacts which preserve an invaluable record of American business, technological, and social development. Hagley's main strength is in the Middle Atlantic region, but in recent years the scope of its collecting has broadened to include records of and works about business organizations and companies with national impact. The Library's national stature was recognized in 1985, when it was granted membership in the Independent Research Libraries Association (IRLA). The Center for the History of Business, Technology, and Society, a department of the Library, was founded in 1975 to encourage and coordinate research in Hagley's areas of research and collecting interests. The Center sponsors conferences, colloquia, and seminars and it issues publications. Since 1977 it has awarded competitive research fellowships to more than 690 scholars from around the world. The BHOC continues a beneficial relationship with the University of Delaware. In early 2015, a Hagley Does History! course was offered through the University of Delaware's OSHER program to 85 enrollees. The Foundation's principal support has historically come from endowments. Since 1978, with the formal creation of a development office, the Foundation has increased its fund-raising activities to include the active solicitation of individuals, corporations, foundations, as well as state and federal government agencies. The planning and coordination of all fund-raising programs for endowment operations and special projects are now centralized. A general membership program known as "Hagley Associates" was formed in 1975 to encourage further community support for the Foundation. The number of Hagley Associates' memberships for 2014 totaled 2,840. A business membership program, known as "Corporate Associates", was formed in 1982. One of the benefits of being a corporate member is being able to rent Hagley's rooms and facilities for business meetings. The number of corporate associates for 2014 totaled 74. The Foundation is governed by a board of sixteen trustees including not only leaders in the local community, but also specialists in several fields pertinent to Museum and Library operations. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 140075945 162950 6778074 6702480 140314489 125458239 505269 20692362 6579925 140075945 112474285 3303104 15667560 5986710 125458239 121525449 488254 -3226879 6217797 94742 112474285 111448118 1582285 14772712 6274970 2696 121525449 0.75290 0.16600 0.08110 0 0 1419399 1419399 27554315 14582431 12971884 3998675 3062205 936470 2624030 860926 1763104 17090857 40869109 F Split Interest Agreement 3005217 F 43874326 Accrued Post Retirement Benefits 90744 90744 X 8816663 6143666 6143666 2672997 8119825 8119825 10792822 10149004 117350 117350 10031654 0 10031654 Part III, Line 1a: Hagley does not capitalize donated collection items or recognize them as revenues or gains. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired or as decreases in temporarily restricted net assets if the assets used to purchase the items are restricted by donors. Proceeds from de-accessions or insurance recoveries are reflected as increases in the appropriate net asset class. Part III, Line 4: The collections are held for public exhibition, education, or research in furtherance of public service rather than financial gain. They are protected, kept unencumbered, cared for, and preserved, and are subject to a policy that requires the proceeds from sales of collection items to be used to acquire other items for collections. Part V, Line 4: Hagley has adopted investment and spending policies for endowment assets that attempt to provide a predictable stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the endowment assets. Endowment assets include those assets of donor-restricted funds that Hagley must hold in perpetuity or for a donor-specified period(s) as well as Board-designated funds. Under this policy, as approved by the Board of Trustees, the endowment assets are invested in a manner that is intended to maintain the level of financial support currently provided while assuming a moderate level of investment risk. Part X, Line 2: Hagley has adopted the provisions of FASB ASC 740-10-50, Accounting for Uncertainty in Income Taxes. Management continually evaluates uncertain tax positions and expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings, as applicable. Management's evaluation is that there is no income tax liability. This evaluation is based on settled and established positions within the Internal Revenue Code and management believes there is no significant uncertainty related to its evaluation. Hagley's policy is to expense all interest and penalties, if any, as incurred. No amounts of interest or penalties were recognized by Hagley during the year ended December 31, 2014. No tax years prior to 2011 remain subject to examination by federal jurisdictions. Part XI, Line 2d - Other Adjustments: Endowment Draw 6,026,316. Cost of Goods Sold on Line 10b 71,932. Rental Expenses Reported on Line 6b 45,418. Part XI, Line 4b - Other Adjustments: Investment Income 3,840,317. Realized Gains on Investment Sales 4,279,508. Part XII, Line 2d - Other Adjustments: Cost of Goods Sold on Line 10b 71,932. Rental Expenses Reported on Line 6b 45,418. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investment 23203027 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Investment 7654101 0 0 0 0 0 0 30857128 0 30857128 0 0 0 0 0 0 1 Fellowship & research grants 43 40950 FMV Part I, Line 2: Hagley research grants are awarded through an application and evaluation process. The committee, comprised of Hagley experts and outside scholars, assesses applications 4 times per year. Applicants must demonstrate their research will make important scholarly and academic contributions; potential grant recipients must also make sufficient use of Hagley's research collections. 43 grants were awarded in 2014. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 David Cole Director 157810 0 0 0 2438 0 2856 0 19142 0 182246 0 0 0 Part I, Line 1a As a condition of employment and for the convenience of the Organization, the Executive Director resides on Hagley's premises. X FASB ASC 958-360-25 X 14 53064 PUBLICLY TRADED VALUE X 318 FASB ASC 958-360-25 0 1 0 Form 990, Part VI, Section A, line 2 Some Trustees have a common family relationship. Form 990, Part VI, Section B, line 11 Draft versions of the Form 990 are distributed to all members of the Board prior to filing. Form 990, Part VI, Section B, line 12c Each Director must complete a Conflict of Interest Policy Disclosure Statement annually. Board members are required to acknowledge a potential conflict to the Board prior to entering into a transaction with Hagley. The minutes of the Board meeting at which a disclosure of conflict is made shall reflect the occurrence and the outcome. The Executive Director monitors contracts and vendor payments for potential conflicts of interest and informs the President of the Board. The President then brings the potential conflict to the Board for discussion when deemed possibly material. Form 990, Part VI, Section B, line 15 The Executive Director gathers local salary data as well as national salary survey data every other year in order to establish current market values for Hagley's salaried positions. The collected survey data supports a salary structure that aligns every position within a salary range. The Executive Director works with the Organization and Compensation Committee under the Board of Directors in order to ensure that the proper appraisal systems and compensation and benefits philosophies approved by the Committee are adhered to by management. Form 990, Part VI, Section C, line 19 There currently exists no legal requirement to make governing documents, conflict of interest policies or audited financial statements publicly available. Hagley has never received a request for information of this type. If any requests for this information should be received, they would be evaluated by the Trustees on a case by case basis. In general, the Trustees believe that the information available on this form (the Form 990) would be more than sufficient to respond to most legitimate inquiries. Form 990, Part XI, line 9: Net unrealized gain on split interest trust agreement 364,576. Form 990, Part XI, Line 2c: The Audit and Finance Committee assumes oversight of the financial statements and the selection of the independent auditors.