2015-02-09T10:21:45-06:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP ONE SEAGATE SUITE 2650 TOLEDO OH 436041558 990 2013-07-01 344434678 THE TOLEDO MUSEUM OF ART TOLE 4192558000 PO BOX 1013 TOLEDO OH 43697 CAROL J BINTZ COO 4192558000 2015-02-03 1 DONNA M DAWSON P00478085 4192443711 2013 2016-02-25 16:41:14Z CAROL J BINTZ PO BOX 1013 TOLEDO OH 43697 166674719 0 X WWW.TOLEDOMUSEUM.ORG X 1901 OH THE MISSION OF THE TOLEDO MUSEUM OF ART IS TO INTEGRATE ART INTO THE LIVES OF PEOPLE BY MAINTAINING A WORLD-CLASS COLLECTION, DYNAMIC EXHIBITIONS AND NUMEROUS EDUCATIONAL OPPORTUNITIES WHILE MAINTAINING FREE ADMISSION FOR ALL VISITORS. 22 22 381 399 817970 -3004341 6606043 13004864 2663342 7658819 11044388 13299519 609573 658684 20923346 34621886 76045 141565 0 0 9182272 9117269 0 0 817400 14733209 12239196 23991526 21498030 -3068180 13123856 258718633 292324355 19467300 13169544 239251333 279154811 X FOR 113 YEARS, THE TOLEDO MUSEUM OF ART HAS OFFERED FREE ADMISSION TO ONE OF THE WORLD'S GREAT ART COLLECTIONS HOUSED IN ITS GREEK REVIVAL MAIN BUILDING AND THE GLASS PAVILION. THE MUSEUM HAS AN EXTENSIVE EDUCATION PROGRAM, OFFERING CURRICULUM-BASED SCHOOL TOURS AS WELL AS ADULT AND CHILDREN'S ART CLASSES. 0 0 15955847 THE TOLEDO MUSEUM OF ART OPERATES AND MAINTAINS ART GALLERIES, STUDIO SPACES AND AN ART LIBRARY FOR THE BENEFIT OF THE GENERAL PUBLIC. THIS INCLUDES EDUCATIONAL SCHOLARSHIP, RESEARCH, CONSERVATION, DOCUMENTATION AND PRESENTATION OF A PERMANENT COLLECTION OF ART TOTALING NEARLY 30,000 OBJECTS. THE MUSEUM'S VISITATION IS AMONG THE HIGHEST OF AMERICAN MUSEUMS PER CAPITA. 1233040 141565 THROUGH HANDS-ON ART EXPERIENCES AND ACTIVITIES, COMMUNITY OUTREACH OPENS DOORS FOR THOSE IN OUR COMMUNITY WHO EXPERIENCE PHYSICAL, MENTAL OR SOCIO-ECONOMIC DISADVANTAGES, AND ALLOWS THESE INDIVIDUALS TO EXPERIENCE THE FREEDOM OF TRUE PERSONAL EXPRESSION, WITHOUT JUDGMENT OR CRITICISM. AT-RISK CHILDREN, UNDERSERVED TEENS, ADULTS WITH OR SUFFERING FROM ILLNESSES ALL GAIN A SENSE OF ACCOMPLISHMENT, COMFORT AND INCREASED SELF-ESTEEM THROUGH THE PROCESS OF ARTISTIC HANDS-ON CREATION. COMMUNITY OUTREACH EMBRACES DIVERSITY WITH THERAPEUTIC AND INSPIRATIONAL EXPERIENCES, FOSTERS VALUABLE LIFE SKILLS, AND ENCOURAGES PARTICIPANTS TO INVESTIGATE THE FURTHEST REACHES OF THEIR OWN UNIQUE GENIUS. 1968174 THE MUSEUM ORGANIZES AND PRESENTS SPECIAL EXHIBITIONS OF ITS PERMANENT COLLECTION AS WELL AS HOSTING TRAVELING EXHIBITIONS AND MOUNTING EXHIBITIONS IN COLLABORATION WITH OTHER ART MUSEUMS. THE MUSEUM OFFERS CULTURAL ACTIVITIES ASSOCIATED WITH THESE EXHIBITIONS INCLUDING MUSICAL PROGRAMS, HANDS-ON ACTIVITIES, LECTURES, ETC. THAT ARE AVAILABLE TO THE GENERAL PUBLIC, GENERALLY WITHOUT CHARGE. 19157061 1 1 0 0 0 0 0 1 0 1 1 1 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 146 0 1 381 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X X MARY SIEFKE 4192558000 2445 MONROE STREET TOLEDO OH 43697 DAVID K WELLES JR CHAIRMAN 1.00 X X 0 0 0 GEORGE CHAPMAN VICE CHAIRMAN 1.00 X X 0 0 0 SARA JANE DEHOFF VICE CHAIRMAN 1.00 X X 0 0 0 MARY ELLEN PISANELLI VICE CHAIRMAN 1.00 X X 0 0 0 CYNTHIA B THOMPSON VICE CHAIRMAN 1.00 X X 0 0 0 DENNIS G JOHNSON SECRETARY 1.00 X X 0 0 0 JOHN SZUCH TREASURER 1.00 X X 0 0 0 MICHAEL J ANDERSON DIRECTOR 1.00 X 0 0 0 ELIZABETH BRADY DIRECTOR 1.00 X 0 0 0 CHARLES E DANA DIRECTOR 1.00 X 0 0 0 JAMES A HOFFMAN DIRECTOR 1.00 X 0 0 0 LLOYD JACOBS DIRECTOR 1.00 X 0 0 0 BILLIE JOHNSON DIRECTOR 1.00 X 0 0 0 GEORGE M JONES III DIRECTOR 1.00 X 0 0 0 HARLEY J KRIPKE DIRECTOR 1.00 X 0 0 0 SUSAN E MORGAN DIRECTOR 1.00 X 0 0 0 RANDY OOSTRA DIRECTOR 1.00 X 0 0 0 RICHARD I REYNOLDS DIRECTOR 1.00 X 0 0 0 DARRYL F ALLEN DIRECTOR 1.00 X 0 0 0 VERNELIS K ARMSTRONG DIRECTOR 1.00 X 0 0 0 DON BACIGALUPI DIRECTOR 1.00 X 0 0 0 WILLIAM W BOESCHENSTEIN DIRECTOR 1.00 X 0 0 0 MOLLY P CHILES DIRECTOR 1.00 X 0 0 0 THOMAS B DONNELL DIRECTOR 1.00 X 0 0 0 HELEN H EMMERT DIRECTOR 1.00 X 0 0 0 NANCY R FAIRHURST DIRECTOR 1.00 X 0 0 0 RITA B KERN DIRECTOR 1.00 X 0 0 0 ROBERT J LANIGAN DIRECTOR 1.00 X 0 0 0 HELEN MCMASTER DIRECTOR 1.00 X 0 0 0 SUSAN R REAMS DIRECTOR 1.00 X 0 0 0 DUANE STRANAHAN JR DIRECTOR 1.00 X 0 0 0 EDWARD F WEBER DIRECTOR 1.00 X 0 0 0 GEORGIA WELLES DIRECTOR 1.00 X 0 0 0 JOHN P WILLIAMSON DIRECTOR 1.00 X 0 0 0 FREDERIC WOLFE DIRECTOR 1.00 X 0 0 0 ALLAN BLOCK DIRECTOR 1.00 X 0 0 0 DOROTHY SAXE DIRECTOR 1.00 X 0 0 0 JEANNE RUDSKI DIRECTOR 1.00 X 0 0 0 RICHARD P ANDERSON DIRECTOR 1.00 X 0 0 0 SCOTT TRUMBULL DIRECTOR 1.00 X 0 0 0 STEPHANIE STREETER DIRECTOR 1.00 X 0 0 0 STEVEN D TAYLOR DIRECTOR 1.00 X 0 0 0 SUSAN KRUSE DIRECTOR 1.00 X 0 0 0 BARB KAPLAN DIRECTOR 1.00 X 0 0 0 SANDRA L WISELY DIRECTOR 1.00 X 0 0 0 BRIAN KENNEDY PRESIDENT, DIRECTOR, & CEO 40.00 X 346599 0 48162 CAROL BINTZ CHIEF OPERATING OFFICER 40.00 X 155643 0 27586 AMY GILMAN ASSOCIATE DIRECTOR 40.00 X 102368 0 14527 604610 0 90275 3 0 1 0 SAFEGUARD SECURITY SERVICES 3332 W LASKEY RD SUITE 2 TOLEDO OH 43623 SECURITY 640461 BLUE WATER COMMUNICATIONS 435 12TH ST WEST BRADENTON FL 34205 MARKETING 470279 2 1707276 18630 11278958 103950 13004864 SALE OF ARTWORK 711300 5440855 5440855 TUITION AND RELATED FEES 711300 911729 911729 FACILITY FEES 711300 798108 798108 PARKING LOT INCOME 711300 151406 151406 PERISTYLE SERVICE FEES 711300 146622 146622 210099 210099 7658819 3431500 3431500 141024732 131156713 9868019 9868019 9868019 87845 18630 81839 6006 6006 1466959 814281 652678 19862 632816 34621886 6860711 817970 13938341 141565 141565 595021 480681 81911 32429 6207750 5014842 854570 338338 856871 692215 117957 46699 843232 681196 116080 45956 614395 496333 84577 33485 1488678 1374400 114278 61902 50066 4104 7732 789715 781660 6160 1895 339920 305928 16996 16996 514004 514004 4445276 4399934 34673 10669 246377 212938 33439 PROGRAMS 1823597 1823597 ART PURCHASES & EXPENSE 989061 989061 MAINTENANCE & REPAIRS 623135 612738 10397 POSTAGE & SHIPPING 368285 163113 9502 195670 549246 422790 38925 87531 21498030 19157061 1523569 817400 11595 11595 2238428 1471175 600157 8088781 466968 492145 590292 450986 111584468 62812106 52542833 48772362 69998783 70985684 69997831 92114553 62271746 69937074 258718633 292324355 7624859 4284596 8395000 7465000 3447441 1419948 19467300 13169544 X 122808621 140988095 32625619 45728583 83817093 92438133 239251333 279154811 258718633 292324355 X 13123856 18065186 8714436 X 0 1 X 1 0 X 8096376 11758766 8947771 6606043 13004864 48413820 8096376 11758766 8947771 6606043 13004864 48413820 14881654 33532166 4102565 4121067 3395320 3893733 3431500 18944185 67358005 17434532 0.49780 0.42510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 107568299 14313995 22202822 148381 13329970 130606765 105288673 2751304 13847008 81480 14237206 107568299 124501551 5377819 -4456037 111338 20023322 105288673 102444249 8146277 25786340 104068 11771247 124501551 96171406 5301822 11154618 121366 10062231 102444249 0.47300 0.18500 0.34200 0 0 4600913 4600913 96981842 55617912 41363930 3947337 2651176 1296161 6054376 4543018 1511358 48772362 MUTUAL FUNDS 60709131 F OTHER 20200 F CSV - LIFE INSURANCE 2133 F LIMITED PARTNERSHIPS 31383089 F 92114553 ACCRUED INTEREST RECEIVABLE 72054 PERPETUAL AND SPLIT INTEREST TRUST AGREEMENTS 69417042 BOND ORIGINATION COSTS 44144 DEPOSITS - FACILITIES 20000 OTHER ASSETS 161845 CONSTRUCTION IN PROGRESS 221989 69937074 GIFT ANNUITIES - NON-CURRENT 149018 DEFERRED INCOME 34270 INTEREST RATE SWAP AGREEMENT 445052 PENSION LIABILITY 791608 1419948 X 25406195 0 25406195 9215691 9215691 34621886 21323250 814281 814281 20508969 989061 989061 21498030 PART III, LINE 1A: EXPLANATION: EXPENDITURES FOR THE PURCHASE OF WORKS OF ART ARE EXPENSED AS PURCHASED. EACH OF THE OBJECTS IN THE ART COLLECTION, WHICH COLLECTION IS OF SIGNIFICANT VALUE, ARE CATALOGUED FOR EDUCATIONAL AND CURATORIAL PURPOSES. PROCEDURES ARE EMPLOYED CONTINUOUSLY TO VERIFY THE CONDITION AND EXISTENCE OF EACH OBJECT IN THE COLLECTION. PROCEEDS FROM SALES OF COLLECTION OBJECTS WHICH ARE NO LONGER DEEMED APPROPRIATE FOR THE MUSEUM'S ART COLLECTION ARE TO BE USED TO ACQUIRE OTHER OBJECTS FOR THE COLLECTION. GIFTS OF WORKS OF ART (AMOUNTING TO $2,193,695 IN 2014 AND $106,400 IN 2013) ARE NOT RECORDED SINCE THE MUSEUM HAS ADOPTED THE POLICY OF EXPENSING WORKS OF ART. PART X, LINE 2: THE MUSEUM DETERMINED THAT IT WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS. THE FEDERAL TAX RETURNS OF THE MUSEUM FOR 2011 THROUGH 2013 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES, WHICH IS GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. PART XI, LINE 4B - OTHER ADJUSTMENTS: INTEREST AND DIVIDENDS 3,431,500. NET REALIZED GAINS 9,868,019. INVESTMENT RETURN DESIGNATED FOR CURRENT OPERATIONS -8,710,402. COST OF GOODS SOLD -814,281. ART PROCEEDS 5,440,855. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 814,281. PART XII, LINE 4B - OTHER ADJUSTMENTS: ART PURCHASES 989,061. ART IN BLOOM EVENT 106475 18630 87845 81839 106475 18630 87845 81839 81839 6006 1 SUMMER 2013 SCHOLARSHIPS 61 5190 FALL 2013 SCHOLARSHIPS 192 27080 WINTER SESSION 1 2014 SCHOLARSHIPS 82 8461 WINTER SESSION 2 2014 SCHOLARSHIPS 139 20649 SPRING 2014 SCHOLARSHIPS 93 17610 UNIVERSITY OF TOLEDO SCHOLARSHIPS 14 62575 PART I, LINE 2: THE SCHOLARSHIPS ISSUED BY THE MUSEUM ARE TO BE USED FOR INTERNAL ART CLASSES HELD AT THE TOLEDO MUSEUM OF ART. THE FUNDS ARE HELD IN A SEPARATE ACCOUNT UNTIL IT IS REQUESTED BY THE RECIPIENT. ONCE REQUESTED, THE FUNDS ARE PAID TO THE OPERATING FUND ON BEHALF OF THE SCHOLARSHIP RECIPIENT. REGULAR REQUIRED REPORTS ARE REVIEWED BY THE PROGRAM STAFF TO MONITOR THE GRANT FUNDS. 1 X X X X 0 0 0 0 0 0 0 0 0 BRIAN KENNEDY PRESIDENT, DIRECTOR, & CEO 346599 0 0 0 0 0 36369 0 11793 0 394761 0 0 0 CAROL BINTZ CHIEF OPERATING OFFICER 155643 0 0 0 0 0 22486 0 5100 0 183229 0 0 0 X 129 0 X 25 103950 MARKET QUOTE 3 0 1 0 PART I, LINE 33: EXPLANATION: NO VALUES WERE REPORTED ON FORM 990 PART VIII, STATEMENT OF REVENUE, LINE G, FOR WORKS OF ART BECAUSE THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S GOVERNING BODY AND THE ORGANIZATION'S CHIEF OPERATING OFFICER. FORM 990 IS SENT ELECTRONICALLY TO THE BOARD WITH AN OPPORTUNITY FOR MEMBERS TO PROVIDE COMMENT. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE BOARD MEMBERS AND COMMITTE MEMBERS SHALL REPORT TO THE AUDIT COMMITTEE CONCERNING ALL TRANSACTIONS AND ALL BUSINESS OR PROFESSIONAL RELATIONSHIPS OF THE MUSEUM, WITH ANY OF THE COMPANIES, FIRMS OR INSTITUTIONS OR INVOLVING ANY OF THE INTERESTS AMOUNTING TO MORE THAN $10,000 PER YEAR. WHENEVER A MATTER INVOLVING ANY CONFLICT OF INTEREST ON THE PART OF ANY DIRECTOR IS DISCUSSED, OR PROPOSED FOR ACTION, SUCH CONFLICT SHALL BE DISCLOSED TO OTHER DIRECTORS PRESENT, AND THE DIRECTOR HAVING SUCH CONFLICT SHALL NOT VOTE OR USE HIS OR HER PERSONAL INFLUENCE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE LEADERSHIP & GOVERNANCE COMMITTEE WILL CONSIDER ALL ELEMENTS OF COMPENSATION AND RELY UPON COMPARABILITY DATA SHOWING THE COMPENSATION AND BENEFITS PAID BY SIMILAR ORGANIZATIONS FOR EMPLOYEES WITH THOSE REPORTED FOR FUNCTIONALLY COMPARABLE AND ANALOGOUS POSITIONS AT COMPARABLE ORGANIZATIONS, BOTH TAXABLE AND TAX-EXEMPT. THE LEADERSHIP & GOVERNANCE COMMITTEE RELIES ON COMPARABLE DATA FROM COMPETENT INTERNAL AND/OR EXTERNAL SOURCES. THIS DATA SHALL BE RESEARCHED AND SELECTED FOR SIMILAR POSITIONS AMONG ORGANIZATIONS OF COMPARABLE SCOPE, SCALE AND PURPOSE. THE LEADERSHIP & GOVERNANCE COMMITTEE MAY ALSO CONSIDER FACTORS SUCH AS THE EMPLOYEE'S PERFORMANCE, TENURE, AND ANY CIRCUMSTANCES THAT DISTINGUISH THE POSITION FROM THE POSITIONS CONSIDERED IN THE COMPARABILITY DATA. FORM 990, PART VI, SECTION C, LINE 19 ALL OF THE ABOVE DOCUMENTS ARE AVAILABLE ON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF PERPETUAL AND SPLIT-INTEREST TRUST 7,708,569. FAIR VALUE ADJUSTMENT - INTEREST RATE SWAP AGREEMENT 150,485. PROVISION FOR PENSION LIABILITY 855,382. FORM 990, PART VI, LINE 2A BASED ON THE INFORMATION THAT IS AVAILABLE TO THIS ORGANIZATION, NONE OF THE OFFICERS, DIRECTORS, TRUSTEES, OR KEY EMPLOYEES, OR HIGHEST COMPENSATED EMPLOYEES, OR HIGHEST COMPENSATED PROFESSIONAL AND OTHER INDEPENDENT CONTRACTORS ARE RELATED TO EACH OTHER THROUGH FAMILY RELATIONSHIPS. IN ADDITION, THEY DO NOT HAVE COMMON OWNERSHIP OF BUSINESSES NOR EMPLOYMENT RELATIONSHIPS WITH EACH OTHER. THESE INDIVIDUALS COULD HAVE PROFESSIONAL DEALINGS WITH EACH OTHER FROM TIME TO TIME IN THE NORMAL COURSE OF BUSINESS. HOWEVER, ANY SUCH BUSINESS DEALINGS AMONG THE SPECIFIED PARTIES WOULD NOT IMPACT THIS ORGANIZATION. CHARITABLE TRUSTS (5) CHARITABLE CONTRIBUTIONS OH N/A 0 POOLED INCOME FUND (1) CHARITABLE CONTRIBUTIONS OH N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0