2015-05-14T12:07:35-05:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2013-07-01 410693915 MINNEAPOLIS SOCIETY OF FINE ARTS DBA MINNEAPOLIS INSTITUTE OF ARTS MINN 6128703000 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 PATRICIA GRAZZINI DEPUTY DIRECTOR/COO/ASST TREAS 6128703000 2015-05-11 1 LARRY ADAMS P01314654 6123764500 2013 2016-02-25 16:41:14Z MINNEAPOLIS INSTITUTE OF ARTS KAYWIN FELDMAN 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 126218232 0 X WWW.ARTSMIA.ORG X 1883 MN ENRICH THE COMMUNITY BY COLLECT- ING, PRESERVING, AND MAKING ACCESSIBLE OUTSTANDING WORKS OF ART. 55 50 380 545 27900 -19462 26362644 32649779 4119262 3353295 7626495 14302887 505227 213017 38613628 50518978 0 0 0 0 16799833 17591515 1575 0 1581100 22867779 18321877 39669187 35913392 -1055559 14605586 299361210 327238690 15645705 12640217 283715505 314598473 X THE MINNEAPOLIS INSTITUTE OF ARTS (MIA) ENRICHES THE COMMUNITY BY COLLECTING, PRESERVING, AND MAKING ACCESSIBLE OUTSTANDING WORKS OF ART FROM THE WORLD'S DIVERSE CULTURES. 0 0 15704731 0 1257655 EXHIBITIONS:EXHIBITIONS BRING NEW INSIGHTS TO ART. OUR GALLERIES ARE FILLED WITH A DIVERSE AND RICH SPECTRUM OF EXHIBITIONS, PRODUCED FROM EITHER ORIGINAL SCHOLARSHIP OR THROUGH PARTNERSHIPS WITH OTHER LEADING ART MUSEUMS. MIA PRODUCED 31 EXHIBITIONS AND 4 PUBLICATIONS DURING THE PAST YEAR. 3612840 0 85730 ACQUISITIONS:ACQUISITIONS BRING NEW STRENGTH TO THE COLLECTION. THE PERMANENT COLLECTION IS ALWAYS AT THE CORE OF OUR WORK. IN THE YEAR ENDED JUNE 30, 2014, 1,391 SUPERB OBJECTS WERE ACQUIRED ENRICHING EACH OF THE SEVEN CURATORIAL COLLECTING AREAS. 2921049 0 486975 OUTREACH AND EDUCATION:WITH A STRONG COMMITMENT TO OUTREACH AND EDUCATION, THE MIA COMPLEMENTS ITS COLLECTION AND EXHIBITIONS WITH A WIDE ARRAY OF PUBLIC PROGRAMS WHICH INCLUDE POPULAR YOUTH AND FAMILY PROGRAMS, STUDENT AND ADULT CLASSES, SEMINARS, LECTURES, DEMONSTRATIONS, CONCERTS, AND FILMS. THROUGH THE MIA'S COMPREHENSIVE SCHOOL SERVICES PROGRAM, EDUCATORS AND COMMUNITY VOLUNTEERS BROUGHT ART INTO THE LIVES OF STUDENTS, THROUGH BOTH CLASSROOM AND MUSEUM VISITS. 5248466 0 1522935 A CULTURAL HIGHLIGHT OF THE TWIN CITIES, THE MINNEAPOLIS INSTITUTE OF ARTS (MIA) IS INTERNATIONALLY RENOWNED AS ONE OF THE GREAT ENCYCLOPEDIC FINE ART MUSEUMS. IN A BEAUTIFUL LANDMARK STRUCTURE NEAR DOWNTOWN MINNEAPOLIS, THE MUSEUM HOUSES A WORLD-CLASS COLLECTION OF MORE THAN 80,000 WORKS OF ART, REPRESENTING ARTISTIC TRADITIONS AND TREASURES SPANNING 5,000 YEARS. THE MIA, WITH ITS FREE ADMISSIONS POLICY, IS AN INVALUABLE RESOURCE TO THE COMMUNITY, WELCOMING VISITORS OF ALL AGES TO ENJOY THE WONDER AND BEAUTY OF ART.DURING THE 2014 FISCAL YEAR, 644,927 PEOPLE VISITED THE MIA, WITH AN ADDITIONAL 1.5 MILLION "VIRTUAL VISITORS" EXPLORING THE MUSEUM'S COLLECTIONS AND EXHIBITIONS VIA ITS AWARD-WINNING WEB SITES, WWW.ARTSMIA.ORG AND WWW.ARTSCONNECTED.ORG, AND AN ADDITIONAL 10.2 MILLION IMPRESSIONS ON THE MIA'S SOCIAL MEDIA SITES, INCLUDING FACEBOOK, TWITTER, YOUTUBE, FOURSQUARE, INSTAGRAM, AND FLICKR. THE MIA HAD OVER 21,126 MEMBER HOUSEHOLDS DURING THE FISCAL YEAR.WITH A STRONG COMMITMENT TO OUTREACH AND EDUCATION, THE MIA COMPLEMENTS ITS COLLECTION AND EXHIBITIONS WITH A WIDE ARRAY OF PUBLIC PROGRAMS, CLASSES, LECTURES, AND SPECIAL EVENTS. THROUGH THE MIA'S COMPREHENSIVE SCHOOL SERVICES PROGRAM, EDUCATORS AND COMMUNITY VOLUNTEERS DURING FISCAL YEAR 2014 BROUGHT ART INTO THE LIVES OF NEARLY 180,000 STUDENTS, THROUGH BOTH CLASSROOM AND MUSEUM VISITS. 5248466 0 1522935 27487086 1 1 0 1 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 1 152 0 380 1 1 1 0 0 0 0 1 1 0 0 0 0 X 55 50 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X KRIS DAVIDSON 6128703064 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 KAYWIN FELDMAN DIRECTOR AND PRESIDENT 40.00 X X 436744 0 118225 STACIA ANDERSON ELECTIVE TRUSTEE 1.00 X 0 0 0 SHARI BALLARD ELECTIVE TRUSTEE 1.00 X 0 0 0 GARY BHOJWANI ELECTIVE TRUSTEE 1.00 X 0 0 0 MAURICE BLANKS ELECTIVE TRUSTEE 1.00 X 0 0 0 BLYTHE BRENDEN ELECTIVE TRUSTEE 1.00 X 0 0 0 WILLARD CLARK ELECTIVE TRUSTEE 1.00 X 0 0 0 KITTY CROSBY ELECTIVE TRUSTEE 1.00 X 0 0 0 LUCY CROSBY MITCHELL ELECTIVE TRUSTEE 1.00 X 0 0 0 RICHARD DAVIS ELECTIVE TRUSTEE 1.00 X 0 0 0 ERIC DAYTON ELECTIVE TRUSTEE 1.00 X 0 0 0 JANE EMISON ELECTIVE TRUSTEE 1.00 X 0 0 0 NANCY ENGH ELECTIVE TRUSTEE 1.00 X 0 0 0 MICHAEL FERNANDEZ ELECTIVE TRUSTEE 1.00 X 0 0 0 MICHAEL FRANCIS ELECTIVE TRUSTEE 1.00 X 0 0 0 GAYLE FUGUITT ELECTIVE TRUSTEE 1.00 X 0 0 0 PAUL GRANGAARD ELECTIVE TRUSTEE 1.00 X 0 0 0 JOHN HIMLE ELECTIVE TRUSTEE 1.00 X 0 0 0 JOHN HUSS ELECTIVE TRUSTEE 1.00 X 0 0 0 MARY INGEBRAND POHLAD ELECTIVE TRUSTEE 1.00 X 0 0 0 HUBERT JOLY ELECTIVE TRUSTEE 1.00 X 0 0 0 MARK LACEK ELECTIVE TRUSTEE 1.00 X 0 0 0 ERIC LEVINSON ELECTIVE TRUSTEE 1.00 X 0 0 0 DIANE LILLY ELECTIVE TRUSTEE 1.00 X 0 0 0 JOHN LINDAHL ELECTIVE TRUSTEE 1.00 X 0 0 0 REID MACDONALD ELECTIVE TRUSTEE 1.00 X 0 0 0 BRENT MAGID ELECTIVE TRUSTEE 1.00 X 0 0 0 AL MCQUINN ELECTIVE TRUSTEE 1.00 X 0 0 0 LENI MOORE ELECTIVE TRUSTEE 1.00 X 0 0 0 SHEILA MORGAN ELECTIVE TRUSTEE 1.00 X 0 0 0 MARY OLSON ELECTIVE TRUSTEE 1.00 X 0 0 0 MIKE OTT ELECTIVE TRUSTEE 1.00 X 0 0 0 JOHN PRINCE ELECTIVE TRUSTEE 1.00 X 0 0 0 ABIGAIL ROSE ELECTIVE TRUSTEE 1.00 X 0 0 0 MARIANNE SHORT ELECTIVE TRUSTEE 1.00 X 0 0 0 ROGER SIT ELECTIVE TRUSTEE 1.00 X 0 0 0 MIKE SNOW ELECTIVE TRUSTEE 1.00 X 0 0 0 RALPH STRANGIS ELECTIVE TRUSTEE 1.00 X 0 0 0 BRIAN TAYLOR ELECTIVE TRUSTEE 1.00 X 0 0 0 SANDRA K BUTLER LIFE TRUSTEE 1.00 X 0 0 0 BURTON COHEN LIFE TRUSTEE 1.00 X 0 0 0 BRUCE B DAYTON LIFE TRUSTEE 1.00 X 0 0 0 BEVERLY GROSSMAN LIFE TRUSTEE 1.00 X 0 0 0 ALFRED HARRISON LIFE TRUSTEE 1.00 X 0 0 0 MYRON KUNIN LIFE TRUSTEE 1.00 X 0 0 0 DAVID M LEBEDOFF LIFE TRUSTEE 1.00 X 0 0 0 BOB ULRICH LIFE TRUSTEE 1.00 X 0 0 0 GOVERNOR MARK DAYTON TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 MAJOR BETSY HODGES TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 SENATOR KARI DZIEDZIC TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 REPRESENTATIVE PAUL THISSEN TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 REPRESENTATIVE KURT ZELLERS TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 COMMISSIONER MIKE OPAT TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 COMMISSIONER ANITA TABB TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 PAM FRIEDLAND TRUSTEE BY VIRTUE OF OFFICE 1.00 X 0 0 0 MICHELE CALLAHAN SECRETARY 40.00 X 80774 0 12306 PATRICIA GRAZZINI DEPUTY DIRECTOR & COO 40.00 X 315633 0 86045 MATTHEW WELCH DEPUTY DIRECTOR & CHIEF CURATOR 40.00 X 207622 0 16505 DOUGLAS HEGLEY DIRECTOR OF TECHNOLOGY 40.00 X 190783 0 16396 ELIZABETH ARMSTRONG DIR OF CAMP, CURATOR OF CONTEMP ART 40.00 X 167645 0 21420 JULIANNE AMENDOLA DIRECTOR OF DEVELOPMENT 40.00 X 145770 0 13133 KARLEEN GARDNER DIRECTOR OF LEARNING & INNOVATION 40.00 X 142416 0 30260 PATRICK NOON CURATOR OF PAINTINGS 40.00 X 161489 0 17112 THOMAS RASSIEUR CURATOR OF PRINTS & DRAWINGS 40.00 X 140636 0 12993 EVAN MAURER FORMER DIRECTOR AND PRESIDENT 0.00 X 60000 0 0 2049512 0 344395 14 1 1 0 JE DUNN NORTHCENTRAL 9855 WEST 78TH STREET SUITE 270 MINNEAPOLIS MN 55344 CONSTRUCTION SERVICES 661963 TRANSPORT CONSULTANTS INTERNATIONAL 30 UNION AVE S 2ND FL CRANFORD NJ 07016 SHIPPING/FREIGHT SERVICES 238337 MONTICELLO ASSOCIATES 1800 LARIMER STREET SUITE 2100 DENVER CO 80202 INVESTMENT ADVISOR 200000 MASTERPIECE INTERNATIONAL 39 BROADWAY SUITE 1410 NEW YORK NY 10006 SHIPPING/FREIGHT SERVICES 193052 MASLON EDELMAN BORMAN & BRAND 90 SOUTH 7TH STREET MINNEAPOLIS MN 55402 LEGAL SERVICES 167328 8 1645360 853228 10879200 19271991 5601739 32649779 PROGRAM ADMISSIONS/FEES 900099 1257655 1257655 RENTALS/REIMBURSEMENTS 532000 977088 938908 38180 PARKING 812930 503577 503577 CLASSES AND PROGRAMS 900099 486975 486975 DEACCESSIONS 900099 85730 85730 42270 42270 3353295 4670423 -10280 4680703 84385989 74753525 9632464 9632464 9632464 283018 853228 389852 -106834 -106834 875728 555877 319851 319851 50518978 3315115 27900 14526184 1520927 692454 676727 151746 60000 60000 12770686 10925003 812991 1032692 581619 319953 233240 28426 1613453 1266343 235084 112026 1044830 840053 131982 72795 203486 203486 148456 148456 53500 53500 2626774 2626774 2492794 2108758 306280 77756 542818 486834 26121 29863 1159958 1001089 125439 33430 264022 14006 250016 2916238 2651162 244302 20774 572814 431044 139223 2547 36636 12827 22695 1114 62464 62464 2923930 2751418 157015 15497 466086 228791 237295 ACCESSIONS 3287494 3287494 SHIPPING, CRATINGS, PAC 390830 381674 9156 DUES AND SUBSSCRIPTIONS 114143 53498 58211 2434 59434 34685 24749 35913392 27487086 6845206 1581100 12950 12045 23343643 26844103 4237315 5810854 9234519 9170667 298515 254194 258483 270844 114065764 44729012 70070002 69336752 58772924 67217442 75164765 85212757 57968094 63109032 299361210 327238690 6651110 4656174 5598500 5233715 2284375 1700179 1111720 1050149 15645705 12640217 X 101312634 104217746 44930195 55349360 137472676 155031367 283715505 314598473 299361210 327238690 X 14605586 16351009 -73627 X 0 1 X 1 0 X 15175971 12526148 11769426 16030423 22244563 77746531 12400267 12184216 11496112 10694913 10405215 57180723 27576238 24710364 23265538 26725336 32649778 134927254 134927254 6206712 5236913 5962433 5005439 4670429 27081926 97911 1653 99564 162108744 13045664 0.83230 0.80890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 0 1 53500 0 0 53500 0 PART II-B, LINE 1: THE LOBBYIST AND CONSULTANTS RETAINED BY THE MIA PROVIDE GENERAL COUNSEL REGARDING COMMUNITY, GOVERNMENT, AND NONPROFIT ISSUES. THE CONSULTANTS DID NOT LOBBY ON BEHALF OF THE MIA. X X X X 0 128955806 11235796 19089818 6513309 152768111 115823294 4234105 15070104 6171697 128955806 119266897 1191766 1127066 5762435 115823294 102589837 3879722 18027577 5230239 119266897 94076848 3736682 10077263 5300956 102589837 0.18840 0.59120 0.22040 0 0 9120069 9120069 93563862 35330405 58233457 10434739 9398607 1036132 947094 947094 69336752 HEDGED EQUITY FUNDS 29460756 F DOMESTIC EQUITY 25071472 F INTERNATIONAL EQUITY 30680529 F 85212757 BENEFICIAL INTEREST IN PERPETUAL TRUSTS 63109032 63109032 AMOUNTS DUE TO BENEFICIARIES 1050149 1050149 X 65380712 16351009 274484 863015 17488508 47892204 2626774 2626774 50518978 34497744 274484 936642 1211126 33286618 2626774 2626774 35913392 PART III, LINE 1A: PER THE STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 116, THE MIA HAS ELECTED THE OPTION TO NOT CAPITALIZE WORKS OF ART WHEN ACQUIRED THROUGH PURCHASE OR GIFT. IN MAKING THIS ELECTION, THE MIA CERTIFIES THAT ITS COLLECTIONS: -ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN; -ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED; AND -ARE SUBJECT TO AN ORGANIZATIONAL POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS. WORKS OF ART THAT ARE ACQUIRED ARE NOT INCLUDED AS ASSETS IN THE STATEMENTS OF FINANCIAL POSITION. THE COST OF WORKS OF ART PURCHASED OR THE MARKET VALUE OF WORKS OF ART RECEIVED AS GIFTS IS NOT CAPITALIZED WHEN ACQUIRED. PART V, LINE 4: NAMED ENDOWMENT FUNDS ESTABLISHED BY DONORS TO THE MIA PROVIDE AN ONGOING SOURCE OF INCOME FOR MUSEUM PROGRAMS AND ACQUISITION OF ART FOR THE MIA'S PERMANENT COLLECTION. PART X, LINE 2: THE MIA QUALIFIES AS A TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) AND IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) OF THE INTERNAL REVENUE CODE. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. INCOME TAXES FOR UNRELATED BUSINESS INCOME ACTIVITIES ARE ACCRUED AND INCLUDED IN THE STATEMENT OF ACTIVITIES IN THE YEAR INCURRED. THE MIA'S ACCOUNTING POLICY PROVIDES THAT A TAX EXPENSE OR BENEFIT FROM AN UNCERTAIN TAX POSITION MAY BE RECOGNIZED WHEN IT IS MORE THAN LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS. THE MIA HAS NO UNCERTAIN TAX POSITIONS RESULTING IN AN ACCRUAL OR TAX EXPENSE OR BENEFIT. THE MIA'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2011 THROUGH 2013 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 389,852. COST OF GOODS SOLD AND FREIGHT IN - MUSEUM SHOP 555,877. DIFFERENCE IN DRAW - TRUSTS -9,087. LOSS ON BENEFICIARY AGREEMENTS -73,627. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD AND FREIGHT IN - MUSEUM SHOP 555,877. SPECIAL EVENTS EXPENSES 389,852. DIFFERENCE IN DRAW - TRUSTS -9,087. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 23895529 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 5565227 0 0 0 0 0 0 29460756 0 29460756 1 0 1 0 0 0 GALA 688574 612129 76445 25000 7555 56377 7000 95278 ART IN BLOOM 346669 192439 154230 598 14596 38644 9013 95648 1 101003 48660 52343 8070 1469 19643 600 10361 1136246 853228 283018 33668 23620 114664 16613 201287 389852 -106834 X X X X X X 0 1 0 0 0 0 0 0 0 KAYWIN FELDMAN DIRECTOR AND PRESIDENT 411377 0 0 0 25367 0 111910 0 6315 0 554969 0 0 0 PATRICIA GRAZZINI DEPUTY DIRECTOR & COO 286455 0 0 0 29178 0 74005 0 12040 0 401678 0 0 0 MATTHEW WELCH DEPUTY DIRECTOR & CHIEF CURATOR 207005 0 0 0 617 0 10534 0 5971 0 224127 0 0 0 DOUGLAS HEGLEY DIRECTOR OF TECHNOLOGY 185156 0 0 0 5627 0 3643 0 12753 0 207179 0 0 0 ELIZABETH ARMSTRONG DIR OF CAMP, CURATOR OF CONTEMP ART 166347 0 0 0 1298 0 8719 0 12701 0 189065 0 0 0 JULIANNE AMENDOLA DIRECTOR OF DEVELOPMENT 145689 0 0 0 81 0 7338 0 5795 0 158903 0 0 0 KARLEEN GARDNER DIRECTOR OF LEARNING & INNOVATION 141435 0 0 0 981 0 7486 0 22774 0 172676 0 0 0 PATRICK NOON CURATOR OF PAINTINGS 161489 0 0 0 0 0 8489 0 8623 0 178601 0 0 0 THOMAS RASSIEUR CURATOR OF PRINTS & DRAWINGS 140122 0 0 0 514 0 7206 0 5787 0 153629 0 0 0 EVAN MAURER FORMER DIRECTOR AND PRESIDENT 0 0 0 0 60000 0 0 0 0 0 60000 0 0 0 PART I, LINE 4B KAYWIN FELDMAN PARTICIPATES IN 457(B) AND 457(F) NON-QUALIFIED RETIREMENT PLANS APPROVED BY THE BOARD OF TRUSTEES ON JULY 1, 2010 AND DECEMBER 1, 2011, RESPECTIVELY. CONTRIBUTIONS FOR THESE PLANS ARE REFLECTED IN OTHER REPORTABLE COMPENSATION AND DEFERRED COMPENSATION. CONTRIBUTIONS AND CHANGE IN VALUE TO THE 457(F) PLAN FOR FISCAL YEAR 2014 TOTALED $88,960. PATRICIA GRAZZINI PARTICIPATES IN 457(B) AND 457(F) NON-QUALIFIED RETIREMENT PLANS APPROVED BY THE BOARD OF TRUSTEES ON DECEMBER 17, 2001. CONTRIBUTIONS FOR THESE PLANS ARE REFLECTED IN OTHER REPORTABLE COMPENSATION AND DEFERRED COMPENSATION. CONTRIBUTIONS AND CHANGE IN VALUE TO THE 457(F) PLAN FOR FISCAL YEAR 2014 TOTALED $51,055. RICHARD DAVIS - US BANK ELECTED TRUSTEE 250427 BANK/TRUST/INVESTMENT MANAGEMENT FEES 0 MICHAEL OTT - US BANK ELECTED TRUSTEE 250427 BANK/TRUST/INVESTMENT MANAGEMENT FEES 0 ROGER SIT - SIT INVESTMENT ASSOCIATES ELECTED TRUSTEE 204335 INVESTMENT MANAGEMENT FEES 0 RALPH STRANGIS - SIT INVESTMENT ASSOCIATES ELECTED TRUSTEE 204335 INVESTMENT MANAGEMENT FEES 0 SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: THE MIA HAS HAD A LONGSTANDING BANKING RELATIONSHIP AND IS THE BENEFICIARY OF SEVERAL TRUSTS ADMINISTERED BY US BANK. MICHAEL OTT IS AN EMPLOYEE OF US BANK. RICHARD DAVIS IS AN EMPLOYEE AND EXECUTIVE OFFICER OF US BANK.MIA HAS CONTRACTED WITH SIT INVESTMENT ASSOCIATES FOR INVESTMENT MANAGEMENT. ROGER SIT, MIA TRUSTEE, IS AN EMPLOYEE AND EXECUTIVE OFFICER OF SIT INVESTMENT ASSOCIATES. RALPH STRANGIS, MIA TRUSTEE, IS A DIRECTOR, SHAREHOLDER, AND TRUSTEE OF TRUSTS HOLDING SHARES OF STOCK OF SIT INVESTMENT ASSOCIATES. X 52 N/A - SEE PART II X 1 N/A - SEE PART II X 68 5478411 QUOTED MARKET PRICES X AIRFARE 3 50673 FMV ON GIFT DATE X FUNDRAISING A 23 33668 FMV ON GIFT DATE X CAPITAL EQUIP 3 27000 FMV ON GIFT DATE X FURNITURE 34 11988 FMV ON GIFT DATE 22 0 1 0 PART I, COLUMN (B): THE FOUNDATION REPORTS THE NUMBER OF CONTRIBUTORS ON SCHEDULE M, PART I, COLUMN B. PART I, LINE 33: PER THE STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 116, THE MIA HAS ELECTED THE OPTION TO NOT CAPITALIZE WORKS OF ART WHEN ACQUIRED THROUGH PURCHASE OR GIFT. IN MAKING THIS ELECTION, THE MIA CERTIFIES THAT ITS COLLECTIONS: -ARE HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN; -ARE PROTECTED, KEPT UNENCUMBERED, CARED FOR, AND PRESERVED; AND -ARE SUBJECT TO AN ORGANIZATIONAL POLICY THAT REQUIRES THE PROCEEDS FROM SALES OF COLLECTION ITEMS TO BE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE CONSISTS OF THE CHAIR, VICE CHAIRS, SECRETARY, TREASURER, DIRECTOR, AND CHAIR OF EACH COMMITTEE OF THE BOARD. THE PRIMARY PURPOSE OF THE EXECUTIVE COMMITTEE IS TO ASSIST THE BOARD IN FULFILLING ITS RESPONSIBILITIES WHEN IT IS NOT PRACTICAL OR FEASIBLE FOR THE FULL BOARD TO MEET AND DURING INTERVALS BETWEEN THE MEETINGS OF THE BOARD. IN THE EXCERCISE OF SUCH POWERS, THE COMMITTEE IS RESPONSIBLE TO THE BOARD FOR ALL OF SUCH ACTS. FORM 990, PART VI, SECTION A, LINE 2 ERIC DAYTON AND BRUCE DAYTON - FAMILY RELATIONSHIP; KATHERINE CROSBY AND LUCY MITCHELL - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 PER THE BY-LAWS, ANY PERSON OR CORPORATION WHO PAYS THE SOCIETY AN ANNUAL MEMBERSHIP FEE IS CONSIDERED A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE MIA APPROVE A SLATE OF CANDIDATES AND THE SIZE OF THE BOARD AS PRESENTED BY THE GOVERNING BODY EACH YEAR AT THE MEMBERS' ANNUAL MEETING. THE BOARD MAY ELECT, AT ITS DISCRETION, BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE BOARD UPON RECOMMENDATION OF THE GOVERNANCE AND NOMINATING COMMITTEE, ONE OR MORE LIFE TRUSTEES. THIS HONOR IS THE HIGHEST LEVEL OF RECOGNITION CONFERRED BY THE BOARD UPON SELECTED INDIVIDUALS FROM AMONG MEMBERS OF THE SOCIETY AND ACKNOWLEDGES EXCEPTIONAL DEDICATION AND COMMITMENT TO THE SOCIETY OVER AN EXTENDED NUMBER OF YEARS. AN ELECTIVE TRUSTEE SHALL BECOME ELIGIBLE FOR ELECTION AS A LIFE TRUSTEE UPON EXPIRATION OF ONE YEAR FROM THE DATE WHEN HIS OR HER TERM OF ELECTIVE TRUSTEESHIP SHALL HAVE EXPIRED. LIFE TRUSTEES SHALL HAVE ALL THE PRIVILEGES OF ELECTIVE TRUSTEES FOR THEIR LIFETIME. THE BOARD OF TRUSTEES INCLUDES THE FOLLOWING PERSONS, UPON HIS OR HER ACCEPTANCE THAT ARE TRUSTEES BY VIRTUE OF THEIR OFFICE: THE GOVERNOR OF THE STATE OF MINNESOTA, THE MAYOR OF THE CITY OF MINNEAPOLIS, TWO MEMBERS OF EACH OF THE MINNESOTA SENATE AND HOUSE OF REPRESENTATIVES WHO RESIDE IN HENNEPIN COUNTY, AS FROM TIME TO TIME MAY BE APPOINTED BY THE EXECUTIVE COMMITTEE OF THE SOCIETY, ONE MEMBER OF EACH OF THE BOARD OF HENNEPIN COUNTY COMMISSIONERS AND THE MINNEAPOLIS PARK AND RECREATION BOARD, AS FROM TIME TO TIME MAY BE APPOINTED BY THE EXECUTIVE COMMITTEE OF THE SOCIETY, AND THE PRESIDENT OF THE FRIENDS OF THE INSTITUTE. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY A PROFESSIONAL ACCOUNTING FIRM FROM INFORMATION PROVIDED BY THE MIA. THE CONTROLLER AND DEPUTY DIRECTOR OF THE MIA THEN REVIEW THE FORM FOR ACCURACY. A COPY OF THE DRAFT FORM IS FIRST PROVIDED TO MEMBERS OF THE AUDIT AND EXECUTIVE COMMITTEES FOR REVIEW AND DISCUSSION PRIOR TO FILING. UPON THEIR REVIEW, A FINAL COPY IS PROVIDED TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL MEMBERS OF THE BOARD OF TRUSTEES ARE ASKED TO COMPLETE A DISCLOSURE STATEMENT. EACH TRUSTEE IS RESPONSIBLE TO REPORT DEVELOPMENTS RELATIVE TO ACTIVITIES AS DEFINED IN THE MIA'S BYLAWS. IF SUCH A DEVELOPMENT ARISES AFTER COMPLETING THE ANNUAL DISCLOSURE FORM, THE TRUSTEE IS ASKED TO DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME. DISCLOSURE STATEMENTS ARE REVIEWED BY THE EXECUTIVE COMMITTEE AND THE POLICY MANAGEMENT TEAM. NO TRUSTEE SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION OR AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF ANY SUCH MEETING WILL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE TRUSTEE HAVING A CONFLICT OF INTEREST ABSTAINED FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 IT IS THE POLICY OF THE (MIA) THAT THE COMPENSATION PAID TO ITS EMPLOYEES IS REASONABLE AND COMPETITIVE IN RELATION TO COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS, SUBJECT TO BUDGETARY CONSIDERATIONS THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SERVES AS THE COMPENSATION COMMITTEE (THE COMMITTEE) AND IS RESPONSIBLE FOR COMPLIANCE WITH THE COMPENSATION POLICIES AND PROCEDURES. MEMBERS OF THE COMMITTEE WITH A CONFLICT OF INTEREST MUST RECUSE HIMSELF OR HERSELF FROM SUCH ACTION AND MAY NOT PARTICIPATE IN NOR BE PRESENT DURING ANY DISCUSSIONS, DELIBERATIONS OR DECISIONS. THE COMMITTEE SETS THE COMPENSATION OF THE DIRECTOR & PRESIDENT AND APPROVES THE COMPENSATION OF ALL POSITIONS REPORTED ON FORM 990. THE DIRECTOR & PRESIDENT SETS THE COMPENSATION OF ALL OTHER EMPLOYEES. ACCOMPANYING THE POLICY IS A SET OF BOARD-APPROVED PROCEDURES. THE COMMITTEE AND THE DIRECTOR & PRESIDENT OBTAIN AND USE COMPARABILITY DATA PRIOR TO AND IN CONNECTION WITH THE DETERMINATION AND APPROVAL OF ALL COMPENSATION. THE COMPARABILITY DATA INCLUDES BUT IS NOT LIMITED TO: CURRENT COMPENSATION AND BENEFITS DATA FROM COMPARABLE TAX-EXEMPT AND, IN SOME CASES, TAXABLE ORGANIZATIONS, FOR FUNCTIONALLY COMPARABLE POSITIONS REQUIRING SIMILAR SKILLS, EDUCATION, AND EXPERIENCE; THE LOCATION OF THE ORGANIZATION (INCLUDING THE AVAILABILITY OF QUALIFIED PEOPLE IN THE GEOGRAPHIC AREA); INDEPENDENT PAY SURVEYS BY NATIONALLY RECOGNIZED FIRMS; ACTUAL WRITTEN OFFERS FROM SIMILAR INSTITUTIONS COMPETING FOR THE SERVICES OF THE PERSON; THE NUMBER OF EMPLOYEES AND THE ASSETS, BUDGET OR REVENUES SUPERVISED; AND ANY UNUSUAL CHALLENGES. THE COMMITTEE AND THE DIRECTOR & PRESIDENT ARE REQUIRED TO DOCUMENT ALL ASPECTS OF ALL PROCEEDINGS REGARDING THE COMPARABILITY DATA AS WELL AS THE APPROVAL OF ALL COMPENSATION. THESE PROCESSES WERE LAST PERFORMED IN APRIL OF 2014. FORM 990, PART VI, SECTION C, LINE 19 THE SOCIETY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: LOSS ON BENEFICIARY AGREEMENTS -73,627. CHARITABLE REMAINDER UNITRUST (1) 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 INVESTMENT MN N/A T 0 CHARITABLE TRUST (2) 2400 THIRD AVENUE SOUTH MINNEAPOLIS MN 55404 INVESTMENT MN N/A T 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0