2015-02-19T16:31:37-06:00 2014-06-30 510232475 COVER & ROSSITER PA 62 ROCKFORD ROAD WILMINGTON DE 19806 990 2013-07-01 510066038 The Henry Francis du Pont Winterthur Museum Inc HENR 3028884600 Route 52 Winterthur DE 19735 Robert Necarsulmer CFO 3028884600 2015-02-19 1 Peter Kennedy P00571422 3026566632 2015-02-19 2013 2016-02-25 16:41:14Z Robert Necarsulmer Route 52 Winterthur DE 19735 130482562 0 X www.Winterthur.org X 1930 DE Winterthur's mission is to preserve and enhance the legacy of its founder, Henry Francis du Pont, for the benefit and enjoyment of the public, including: the care, development, and study of its preeminent collection of decorative and fine arts made or used in America; the enhancement and interpretation of one of America's finest naturalistic gardens; the operation of graduate programs in American material culture and art conservation at the highest academic level; the operation and development of a library to support these important cultural goals; and the preservation of the historically important buildings and grounds. 32 31 404 300 74127 0 5979054 7016692 2092517 2838555 9032566 14286582 988755 1310538 18092892 25452367 696770 744936 0 0 9936216 14848310 3325 34425 923861 11642938 12091373 22279249 27719044 -4186357 -2266677 369200936 402717305 19966851 20488825 349234085 382228480 X Winterthur's mission is to preserve and enhance the legacy of its founder, Henry Francis du Pont, for the benefit and enjoyment of the public, including: the care, development, and study of its preeminent collection of decorative and fine arts made or used in America; the enhancement and interpretation of one of America's finest naturalistic gardens; the operation of graduate programs in American material culture and art conservation at the highest academic level; the operation and development of a library to support these important cultural goals; and the preservation of the historically important buildings and grounds. 0 0 9197687 2384040 Public Visitation, Membership, and Public Relations:Winterthur hosted 160,931 visitors for tours, educational programs, and special and community events during FY2014. Member households for the year totaled 11,500. 4,615 school children and college students participated in offerings through the Public Programs Department and in addition we provided programs for regional libraries and also teacher training workshops. Garden programs attracted 3,528 participants at 56 programs and events. Winterthur gave approximately 88,330 guided garden tours. Winterthur welcomed new and returning visitors through the presentation of four academic conferences, an intensive two week study program, lecture series on decorative arts, English history, costume history and garden topics, and collection workshops. There were 50 adult programs with an attendance of 3,755. There were also weekly family programs. This year music performances were added to our offerings with over 1,000 people attending. Nearly 3,000 members of the community learned about Winterthur through staff lectures at neighboring institutions and special programs.Winterthur dramatically expanded its audience through its exhibition program. This year's special exhibition was Costumes of Downton Abbey based on the popular TV series. It has broken all records for previous exhibition attendance. The exhibition highlights 40 costumes worn on the TV series and contrasts the story of life at Winterthur with the fictional Downton Abbey. It introduced tens of thousands of first time visitors to Winterthur's many historical and garden features. Accompanying the exhibition was an extensive lecture series, special presentations by the curators, and events featuring music and food. Another notable exhibition was Look at Love: Eye Miniatures from the Skier Collection featuring beautiful painted images of eyes, often in jewelry settings.The institution continued to publicize all offerings locally and nationally, with an emphasis on electronic media. 8502461 744936 454515 Curatorial, Conservation, Education, Library Programs: Including Collection and Library Materials:The museum collection database went online in the fall of 2012. We have been working to upgrade and improve our catalogue records and add photography to the database. Since 2005 and to date we have added 146,036 digital images and upgraded 58,469 catalogue records. During the fiscal year 25,093 individual users viewed over 351,402 individual pages viewed. The majority of users are from the United States, the United Kingdom, Canada, France, Germany, and Australia. In addition to cataloguing and researching, we continue to add to Winterthur's museum collection, acquiring 476 objects in FY2014 through gifts and purchases. Winterthur is working with ten other institutions on a collaboration project, Four Centuries of Massachusetts Furniture, which over the course of FY2013 and FY2015 will include seven exhibitions, three symposiums, two books, an online database of documented Boston furniture, enhanced cataloguing of Massachusetts furniture at two participating institutions, and dozens of public programs.This past year 16 graduate students were enrolled in the Winterthur Program in American Material Culture (administered with the University of Delaware), and 30 graduate students studied in the Winterthur/University of Delaware Program in Art Conservation. Graduates of these Master Degree programs serve in museums, historic houses, and conservation facilities in North America, Europe, and elsewhere. Additionally, Winterthur hosted 35 visiting scholars who availed themselves of the library collections to research various material culture and design topics.Charged with collection care, exhibit preparation, instruction of students in the WUDPAC program and research, outreach and professional engagement, the Conservation Department has been active in all areas.The Conservation Department successfully completed the IMLS funded Silver Coating Project and began the Chinese Export Lacquer Project; these projects involve both treatment and dissemination of research and treatment results through professional papers, symposia and lectures.Research resulting in professional papers and/or presentations included continuing work on the deterioration of cadmium yellow, stain reduction in ceramics, hand coloring in maps and prints, the construction of early blank books, history and preservation of architectural drawings, conservation of furniture finishes, and teaching heritage preservation in Iraq.Outreach continued with conservation participation in Terrific Tuesdays, teacher workshops, programming for high school students and both public and special interest conservation tours. A Delaware Department of the Arts grant will allow further development of school related conservation programming.Exhibit preparation included 34 mannequins plus accessory mounts constructed and dressed for Costumes of Downton Abbey and 21 items treated for Diligent Needle exhibit as well as preparation of collections for Gallery rotations and Yuletide.The extensive capital projects underway - the shutter/window/gutters/chimneys/roof project and the NEH funded Sustaining Collections project have required significant departmental attention and collaboration in design and execution. Both projects address serious infrastructure issues and will significantly improve collection care and energy efficiency.The shutter and storm window replacement project required enrobing the museum building in scaffolding, so staff have taken advantage of the access provided to address a myriad of other issues including gutters, roof leaks, and serious chimney structural issues. Scheduled for completion in January, the museum will have new composite shutters, non-reflecting storms covered newly painted and caulked original wood sashes, new light filtration, and a secure roof, gutters and chimneys that will exclude insects, water, damaging light levels and unconditioned outside air.The Sustaining Collections project has involved multiple energy saving mechanical upgrades and installation of a web based monitoring and control system in the Museum, Galleries and Research Building. By providing extensive real-time data, the new system allows operational adjustments such as cycling systems off at night to reduce energy usage while monitoring collection conditions to ensure they meet preservation standards.The Registration Department is tasked with maintaining paper and digital records related to the museum collection. The department manages paperwork and logistics related to loans to/from Winterthur and for exhibits, accessions and deaccessions, object movement and collection inventory, and risk management. The Registration Department inventoried 12,945 objects; facilitated and documented 20,421 object moves; accessioned 477 museum objects; and managed loans of 1,383 objects to Winterthur and 241 objects from Winterthur to other institutions.Registration staff continues to work with Winterthur's digital asset management team to improve online museum collections data. Catalog data is now available for 86,117 museum objects.The mission of the library is to aquire, catalog, preserve, and make its collections available to the public. During FY2014, we added approximately 107 archival lots and 1,827 books and periodicals by purchase and gift; cataloged and updated 2,252 records; and lent 375 books via interlibrary loan. We welcomed 1,043 visitors to the manuscript and archive collections and circulated 5,748 items in the Printed Book and Periodical Collection. Staff added significantly to our electronic resources with the production of digital collections and staged four exhibitions featuring library resources. During FY2014, WinterCat, the library's online catalog, welcomed 5,404 users, from 72 countries, who together consulted 113,947 pages. 2291716 Garden Program:Winterthur maintains a world-renowned 200-acre naturalistic garden that welcomes visitors from all parts of the globe. The collection of rare and historic plants includes magnolias, azaleas, minor bulbs, conifers, and specimen trees. Significant varieties in the collection are tracked or "accessioned" through a records system, which currently includes more than 7,500 accessions. In FY2014 we continued the restoration of numerous garden areas including the Reflecting Pool, Enchanted Woods, Azalea Woods, Sycamore Hill, and Oak Hill. Restoration of ironwork and statuary continued in the Reflecting Pool and East Terrace areas. Winterthur's most significant garden project was the adaptive reuse of one of our early greenhouses to become our new Brown Horticulture Learning Center. This 3,300 square foot facility was put into service in October 2012 and has led to an increase in garden programs and workshops.In addition, the horticulture internship program provided technical experience and on-the-job training to fourteen students during the year. 1860319 928503 Marketing Program (Expenses $1,640,937)(Revenue $928,503):Winterthur signed two new and renewed one existing licensees that will broaden and deepen awareness of the institution with products tightly tied to the collection and museum offerings. Similarly, the retail stores have transitioned and are now operating the larger e-commerce presence, established by Evergreen Enterprises, that will increase revenue opportunities while also expanding the visibility and knowledge of Winterthur.Publications Program (Expenses $219,382):In FY2014 Winterthur published "Stretch: America's First Family of Clockmakers"; "The du Ponts of Winterthur" (to accompany the Downton Abbey exhibition); "The Diligent Needle" (to accompany an exhibition of the same name); and a reprint edition of "A Country Estate Cookbook: Recipes from Winterthur". Production was completed for the Monacelli Press co-published "Printed Textiles: British and American Cottons and Linens, 1700-1850". The Publications Office also set the budgets and schedules for two upcoming publications, "The Curtains of Winterthur" and " Nathan Lombard: Cabinetmaker", and continued to support the various editorial needs of the institution with work on exhibition labels, brochures, and marketing materials. The institution also prepared two print and online issues of the academic journal "Winterthur Portfolio". 1860319 928503 21852183 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 1 113 0 1 404 1 1 1 1 CJ 0 0 0 0 0 0 0 0 X 32 31 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X Robert Necarsulmer 3028884600 Winterthur Museum 5105 Kennett Pike Winterthur DE 19735 Dr David P Roselle Executive Director & Trust 50.00 X X 260178 0 16581 Mrs Katharine P Booth Chairman 1.00 X X 0 0 0 Mr Pierre du Pont Hayward Vice Chairman & Secretary 1.00 X X 0 0 0 Mrs Alice Cary Brown Trustee 1.00 X 0 0 0 Mr David W Dangremond Trustee 1.00 X 0 0 0 Mr David L De Luca Trustee 1.00 X 0 0 0 Mr William K du Pont Trustee 1.00 X 0 0 0 Ms Catherine G Ebert Trustee 1.00 X 0 0 0 Mrs Anne B Ervin Trustee 1.00 X 0 0 0 Mr Frank J Guzzetta Trustee 1.00 X 0 0 0 Mr James B Hawkes Trustee 1.00 X 0 0 0 Mr Morrison H Heckscher Trustee 1.00 X 0 0 0 Mr John A Herdeg Trustee 1.00 X 0 0 0 Ms Cynthia A Hewitt Trustee 1.00 X 0 0 0 Mr Frank L Hohmann III Trustee 1.00 X 0 0 0 Mrs Elizabeth B Johnson Trustee 1.00 X 0 0 0 Mrs Olivia Barclay Jones Trustee 1.00 X 0 0 0 Mrs Richard I G Jones Trustee 1.00 X 0 0 0 Mr Barron U Kidd Trustee 1.00 X 0 0 0 Mr Nicholas P Lambrow Trustee 1.00 X 0 0 0 Mr Forbes Maner Trustee 1.00 X 0 0 0 Mr Joshua W Martin III Trustee 1.00 X 0 0 0 Mr John L McGraw Trustee 1.00 X 0 0 0 Mrs Elizabeth H Owens Trustee 1.00 X 0 0 0 Mr Bruce C Perkins Trustee 1.00 X 0 0 0 Dr Donald J Puglisi Trustee 1.00 X 0 0 0 Mrs Lynn Springer Roberts Trustee 1.00 X 0 0 0 Mr Geoffrey M Rogers Trustee 1.00 X 0 0 0 Mr John A Sargent Trustee 1.00 X 0 0 0 Ms Robin E Sarratt Trustee 1.00 X 0 0 0 Mr Mark E Stalnecker Trustee 1.00 X 0 0 0 Mr P Coleman Townsend Jr Trustee 1.00 X 0 0 0 Mr Rodman Ward Jr Trustee 1.00 X 0 0 0 Dr Richard C Weiss Trustee 1.00 X 0 0 0 The Honorable W L Lyons Brown Chairman & Trustee Emeritu 1.00 X 0 0 0 Mr Samuel Schwartz Chairman & Trustee Emeritu 1.00 X 0 0 0 Mrs George P Bissell Jr Trustee Emerita 1.00 X 0 0 0 Mrs Louisa C Duemling Trustee Emerita 1.00 X 0 0 0 Mrs Greta B Layton Trustee Emerita 1.00 X 0 0 0 Mrs Julia Bissell Leisenring Trustee Emerita 1.00 X 0 0 0 Ruth Lord Trustee Emerita 1.00 X 0 0 0 Mr Blaine T Phillips Trustee Emeritus 1.00 X 0 0 0 Mr David D Wakefield Trustee Emeritus 1.00 X 0 0 0 Mr David B Warren Trustee Emeritus 1.00 X 0 0 0 Mr Charles O Wood III Trustee Emeritus 1.00 X 0 0 0 Mr Edmond L Lincoln Honorary Trustee 1.00 X 0 0 0 Mr George A Weymouth Honorary Trustee 1.00 X 0 0 0 Mr Robert Necarsulmer CFO and Treasurer 50.00 X 171312 0 2681 Ms Denise D Adams Assistant Treasurer 50.00 X 75069 0 2539 Ms Jane Drummond Assistant Secretary 50.00 X 63132 0 2694 Mr Robert R Davis Dir.-Development 50.00 X 192463 0 12447 Mr John Savage Dir.-Museum Affairs 50.00 X 153398 0 9994 Ms Lisbeth Selsor Dir.-Human Resources 50.00 X 144532 0 4646 Mr Brock Jobe Professor 50.00 X 141235 0 3683 Mr Christopher Strand Dir.-Garden and Estate 50.00 X 131826 0 22620 1333145 0 77885 11 0 1 0 SC&A Construction Inc 3411 Silverside Rd Wilmington DE 19810 Construction Contractor 1627489 Limbach Company LLC 31-35th St Pittsburgh PA 15201 Equipment Maintenance 1318432 Bancroft Construction Company 1300 N Grant Ave Ste 110 Wilmington DE 19806 Construction Contractor 269596 Bluewing LLC 26 Boomdecker Ct Elkton MD 21921 General Contractor 198339 Cambridge Associates 100 Summer Street Boston MA 02110 Investment Consultant 154468 10 1020044 559222 384642 5052784 213277 7016692 Admissions 900099 2143101 2143101 Academic Programs Cost Share 900099 299775 299775 Usage Fees 900099 240939 240939 Teaching/Consulting 900099 26000 26000 128740 128740 2838555 3280245 3280245 122113 122113 482760 65585 417175 417175 417175 114637134 2000 103632797 0 11004337 2000 11006337 11006337 273980 559222 502384 -228404 -228404 1829083 829429 999654 925527 74127 25452367 3764082 74127 14597466 744936 744936 661826 661826 10304326 8518041 1258830 527455 1455389 1147390 206655 101344 1650435 1362478 226557 61400 776334 619715 121197 35422 100406 100406 58000 58000 34425 34425 613090 613090 227897 130217 92017 5663 408389 407844 545 754843 532043 172733 50067 199390 199390 2221772 2078711 110776 32285 146973 131161 11079 4733 822612 740546 56270 25796 237158 237158 3970433 3494368 430893 45172 306669 3233 303384 52 Public visitation 411701 411701 Collection Acquisitions 385079 385079 Library materials 265136 265136 Gardens and grounds 260650 260650 701175 618934 82194 47 27719044 21852183 4943000 923861 1230088 184530 3937554 4751386 296309 579755 335191 461862 209310 366111 99656105 66064768 32672996 33591337 130159026 147063096 196930855 212815014 3429607 2904214 369200936 402717305 1910709 2339794 181551 260044 4035000 3795000 6339490 5368062 7500101 8725925 19966851 20488825 X 294285829 322369079 27014229 30967471 27934027 28891930 349234085 382228480 369200936 402717305 -2266677 35261072 0 X X 0 1 X 1 1 1 X 4640487 8219235 7820761 5979054 7016692 33676229 4640487 8219235 7820761 5979054 7016692 33676229 3746844 29929385 4645023 3688136 3429973 4355655 3885118 20003905 53680134 18179060 0.55760 0.51820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X Digitize collections & reco 0 329367641 957903 49516555 665486 16819514 613090 361744009 311616930 1199718 35369738 648520 17429480 740745 329367641 331606281 3405865 -5867098 622034 16126097 779987 311616930 300886376 3916976 55259968 359561 27136439 961039 331606281 284579194 164852 35635149 346652 18372119 774048 300886376 0.84570 0.07440 0.07990 0 0 6705791 6705791 82471100 57770726 24700374 10479214 8294042 2185172 33591337 87897239 F Endowment Cash 2145158 F Limited Partnerships 70487936 F Private Equity Funds 31202208 F Other Mutual Funds 21082473 F 212815014 Construction in Process 2346962 Life Insurance Receivable 473759 Debt Issuance Cost 83493 2904214 Accrued pension expense 8641298 Bond Interest Swap Liability 84627 8725925 X 61432162 35261072 1331813 36592885 24839277 613090 613090 25452367 28437767 1331813 1331813 27105954 613090 613090 27719044 Part III, Line 1a: In conformity with FASB ASC 958-605, the financial statements exclude the value of the collection objects and library holdings. No determination can be made as to the aggregate value of such items. Winterthur records proceeds from deaccessions and disbursements for current period accessions in the statement of activity as revenue and expenditures, respectively. Proceeds from sales of collection items are limited to the acquisition of other items for collections. Winterthur employs conservation and curatorial staff to ensure that the collection is protected and preserved. Part III, Line 4: Winterthur's collection of decorative and fine arts remains one of the best in the country, and objects are displayed in 175 museum rooms and 35,000 square feet of self-guided galleries. The collections include nearly 90,000 objects including furniture, architecture, textiles, paintings, metals, ceramics, glass, and works of art on paper. The comprehensive research library features books, periodicals, manuscripts, visual images, and ephemera. Much of the scholarship on early American material culture has been written on the basis of research conducted at Winterthur, via both its collection of objects as well as the material found in its library. The Winterthur Program in American Material Culture (WPAMC) is the country's leading graduate program in the study of American decorative arts and material life, and the Winterthur/University of Delaware Program in Art Conservation (WUDPAC) is one of only four graduate programs in the United States that educates and trains conservation professionals in multiple disciplines to care for our cultural heritage. Winterthur Museum, Garden & Library is committed to providing an array of artistic and educational programming. Currently, we are designing exhibitions, programs, and events that utilize our rich collection materials and vast knowledge base to appeal to Winterthur's traditional visitor while encouraging the patronage of a new, diverse, and intergenerational audience. Over the years, through innovative exhibitions, programs, and events, Winterthur has become a unique national treasure, a vital community resource, and a place that engages adults and youth in entertaining and memorable experiences that are relevant to their lives. Winterthur's goal has been to interpret its collections through enticing programs that help young visitors understand people, art, and landscapes-past and present. Culture enthusiasts and families with children make up the bulk of Winterthur's general attendance, of over 161,000 in FY2014. Many of these visitors are cultural tourists and museum members who take garden tours, docent guided gallery tours, guided-period room tours, special focus tours, or partake in Winterthur's family and school programming. Winterthur offers eighteen interactive, curriculum-based and developmentally-appropriate programs for students in preschool through the 12th grade. These programs take place both at Winterthur and in school classrooms throughout the Delaware Valley as part of our school outreach program, and are often geared toward our changing exhibitions. Part X, Line 2: Winterthur 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. Part XI, Line 2d - Other Adjustments: Special Event Expenses 502,384. Cost of Goods Sold 829,429. Part XII, Line 2d - Other Adjustments: Special Event Expenses 502,384. Cost of Goods Sold 829,429. Caribbean 0 0 Investment 5577171 0 0 0 0 0 0 5577171 0 5577171 1 0 0 1 0 0 X 0 Daniller & Company 3724 Jefferson Street Suite 302 Austin TX 78731 Spring mailing 0 85482 34425 51057 85482 34425 51057 DE NJ PA MD Point to Point Races 441494 405936 35558 22689 235124 Delaware Antiques Show 391708 153286 238422 22265 82451 139855 833202 559222 273980 22265 105140 374979 502384 -228404 1 Winterthur Program in American Material Culture 16 605375 FMV Research Fellowship 31 81761 FMV NEH Fellowship 3 57800 FMV Part I, Line 2: The only disbursements made to non-affiliated persons in furtherance of its mission and exempt purpose are to graduate students (Winterthur Program in American Material Culture and the Winterthur/University of Delaware Program in Art Conservation) and research fellows (Research Fellowship Program). The graduate student awards are made according to admission procedures consistent with practices at the University of Delaware, which co-sponsors the awards, and supervised by University of Delaware faculty. All Research Fellowship awards are made according to selection procedures consistent with practices of the National Endowment for the Humanities, which funds some of the Fellowships. Graduate student award funds are monitored according to internal fiscal practices of both the Winterthur Museum and the University of Delaware. Research Fellowship expenditures are monitored by annual reports to NEH (for NEH-funded fellowships) and by monthly internal tracking of non-NEH fellowships. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 Dr David P Roselle Executive Director & Trust 260178 0 0 0 0 0 16581 0 9910 0 286669 0 0 0 Mr Robert Necarsulmer CFO and Treasurer 171312 0 0 0 0 0 2681 0 5542 0 179535 0 0 0 Mr Robert R Davis Dir.-Development 192463 0 0 0 0 0 12447 0 1039 0 205949 0 0 0 Mr John Savage Dir.-Museum Affairs 153398 0 0 0 0 0 9994 0 6116 0 169508 0 0 0 Ms Lisbeth Selsor Dir.-Human Resources 144532 0 0 0 0 0 4646 0 12590 0 161768 0 0 0 Mr Brock Jobe Professor 141235 0 0 0 0 0 3683 0 11167 0 156085 0 0 0 Mr Christopher Strand Dir.-Garden and Estate 131826 0 0 0 0 0 8943 0 14929 0 155698 0 0 0 A Delaware Economic Development Authority 510269736 2012-03-01 4335000 Refinance Series 2002 Bond Issue 0 0 0 A 4335000 91606 4335000 2003 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 1 0 1 1 Wells Fargo Bank NA 7.000000000000 1 0 0 0 0 Ruth Lord Daughter of Founder 0 Pursuant to bequest, she is given the right to use Residence #6 rent-free for life without paying maintenance costs. Winterthur was given the remainder interest in the property. Mrs. Lord is currently permitting Winterthur to use Residence #6 to house visiting scholars & associates. 0 Mr Joshua W Martin III Counsel at law firm used by Winterthur 0 The Trustee does no work for the Winterthur account & no consideration is given to Winterthur's work with the firm in the determination of the amount of compensation the Trustee receives from the firm. It is also important to note that the Trustee was on the Winterthur Board for a number of years before he joined Potter, Anderson and Corroon. In addition, Potter, Anderson and Corroon was Winterthur's primary law firm for many years before the Trustee joined the firm. It is an established policy that all Trustees recuse themselves from Committee or Board decisions for which they or their firms have a potential conflict of interest. 0 Mr Nicholas P Lambrow Banking relationship with Trustee 0 Mr. Nicholas P. Lambrow became a Trustee of Winterthur in May 2012. Mr. Lambrow is President Delaware Region at M&T Bank. Winterthur has done business with M&T and Wilmington Trust Company (which was acquired by M&T) for many years. Mr. Lambrow played no role in this business being awarded to M&T Bank and does not have any direct compensation tied to the retention of this business. It is an established policy that all Trustees recuse themselves from Committee or Board decisions for which they or their firms have a potential conflict of interest. 0 X 143 FASB ASC 958-360-25 X FASB ASC 958-360-25 X 22 213277 Fair Market Value 0 1 1 Part I, Line 32b: Winterthur uses a brokerage account with an unrelated financial institution to process non-cash contributions of stock. Part I, Line 33: A zero amount is reported in Sch M, Part I, line 3(c), because Winterthur does not capitalize its collection, as allowed under FASB ASC 958-360-25 . Form 990, Part VI, Section A, line 2 Some Board members share a family relationship. Form 990, Part VI, Section B, line 11 The Audit Committee reviews the Form 990 before the return is signed and filed. Form 990, Part VI, Section B, line 12c Each Trustee must complete a Conflict of Interest Policy Disclosure Statement upon his/her election to the Board and annually thereafter. Board members are required to acknowledge a potential conflict to the Board prior to entering into a transaction with the Museum. 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 Chairman of the Board. The Chairman then brings the potential conflict to the Board for discussion when deemed possibly material. Form 990, Part VI, Section B, line 15 The Human Resources Committee of the Board of Trustees oversees a national salary survey every three years. The Committee also gathers local salary data to help establish current market values for the Museum's salaried positions. The collected survey data supports a salary structure that aligns every position within a salary range. The Human Resources Committee reviews all salary rates including the Executive Director and departmental Directors and then approves the rates of pay prior to budget approval for the next fiscal year. Form 990, Part VI, Section C, line 19 While the Museum routinely provides copies of the audited financial statements when requested,it has never received a request for its conflict of interest policy or governing documents. Although there is no legal requirement that it do so, in the interest of transparency, requests of this nature will be evaluated by the Museum and responded to on a case by case basis. Form 990, Part XII, Line 2c Winterthur has an Audit Committee that is responsible for the selection and oversight of the independent auditor.