2014-04-07T16:07:55-05:00 2013-06-30 BKD LLP 201 N Illinois Street Indianapolis IN 46204 990 2012-07-01 350867955 INDIANAPOLIS MUSEUM OF ART INC % JEREMIAH WISE INDI 3179231331 4000 MICHIGAN ROAD Suite INDIANAPOLIS IN 46208 JEREMIAH WISE 3179231331 2014-05-15 true 3173834000 2012 2015-11-30 17:44:51Z JEREMIAH WISE 4000 MICHIGAN ROAD INDIANAPOLIS IN 46208 73775064 false X WWW.IMAMUSEUM.ORG X 1883 IN TO SERVE THE CREATIVE INTERESTS OF ITS COMMUNITIES BY FOSTERING EXPLORATION OF ART, DESIGN, AND THE NATURAL ENVIRONMENT. 28 27 431 600 451990 5256372 11330684 1674792 1796505 4413163 9135821 470519 656515 11814846 22919525 0 0 0 0 14178758 14031969 0 0 2596194 18548489 18278728 32727247 32310697 -20912401 -9391172 476925783 486122271 136529124 133188476 340396659 352933795 X AN EDUCATIONAL INSTITUTION IN THE HEART OF THE MIDWEST, THE INDIANAPOLIS MUSEUM OF ART SERVES THE CREATIVE INTERESTS OF ITS COMMUNITIES BY FOSTERING EXPLORATION OF ART, DESIGN, AND THE NATURAL ENVIRONMENT. THE IMA PROMOTES THESE INTERESTS THROUGH THE COLLECTION, PRESENTATION, INTERPRETATION AND CONSERVATION OF ITS ARTISTIC, HISTORIC, AND ENVIRONMENTAL ASSETS. THE INDIANAPOLIS MUSEUM OF ART HAS A COLLECTION OF OVER 50,000 WORKS OF ART. AT THE MUSEUM, YOU WILL FIND ART FROM A VARIETY OF CULTURES AND PERIODS IN ART HISTORY. THE MUSEUM ALSO FEATURES NATIONAL AND INTERNATIONAL TRAVELING EXHIBITIONS THROUGHOUT THE YEAR. THE VIRGINIA B. FAIRBANKS ART & NATURE PARK PROVIDES AN URBAN OASIS WITH 100 ACRES OF WOODLANDS, WETLANDS, LAKE AND MEADOWS LOCATED ADJACENT TO THE MUSEUM. THE PARK CONTAINS OUTDOOR ART WORKS, AS WELL AS RECREATIONAL EXPERIENCES FOR VISITORS INCLUDING NATURE WALKS AND INTERACTIVE OUTDOOR ART EXHIBITIONS. false false 13192128 1451140 CURATORIAL - THE STUDY, PRESERVATION AND COLLECTION OF ART FOR THE ENJOYMENT OF FUTURE GENERATIONS. 8280497 545649 EDUCATIONAL - TO COMMUNICATE AND DEVELOP KNOWLEDGE ABOUT THE ART COLLECTED, TO MEMBERS OF THE GENERAL PUBLIC. 2405615 22275 HORTICULTURAL - THE INDIANAPOLIS MUSEUM OF ART FOSTERS EXPLORATION NOT ONLY OF THE ART IN ITS MUSEUM COLLECTIONS, BUT ALSO OF THE NATURAL ENVIRONMENT AND THE HISTORIC PROPERTIES FOR WHICH THE IMA HAS BEEN GIVEN STEWARDSHIP. 2155072 1032857 MUSEUM STORE 2155072 1032857 26033312 true true false false false false true false true true true false false true false false true false false true false false false true false false false false true true false false false false false false false false false false true true false false true true false false false true 97 0 true 431 true true true false false false false true true false false false false X 28 27 false false false false false false false true true false false true true true true true true true true false IN X X JEREMIAH WISE 3179231331 4000 MICHIGAN ROAD INDIANAPOLIS IN 46208 CHARLES VENABLE OCT - DEC 50.0 X X 105956 0 523 JUNE MCCORMACK 2.0 X X THOMAS HIATT 2.0 X X RICK JOHNSON 2.0 X X DERICA RICE 2.0 X X MATTHEW GUTWEIN 2.0 X X ERSAL OZDEMIR 2.0 X X THE HONORABLE SERGIO AGUILERA 2.0 X AGATHA BARCLAY 2.0 X KATIE BETLEY 2.0 X MARY CLARE BROADBENT 2.0 X BRIAN CASEY 2.0 X BRADLEY CHAMBERS 2.0 X JANE FORTUNE 2.0 X KENT HAWRYLUK 2.0 X CHRISTINA KITE 2.0 X KAY KOCH 2.0 X DEBORAH LILLY 2.0 X LYNNE MAGUIRE 2.0 X PETER MORSE 2.0 X BENJAMIN PECAR 2.0 X JOHN G RAPP DDS 2.0 X MICHAEL ROBERTSON 2.0 X MARYA ROSE 2.0 X STEPHEN RUSSELL 2.0 X JEFFREY SMULYAN 2.0 X JENNIFER BARTENBACH JUL - APR 50.0 X 154053 0 19605 J NICHOLAS CAMERON 50.0 X 211803 0 6855 CYNTHIA RALLIS 50.0 X 186696 0 14773 LISA FREIMAN 50.0 X 140016 0 22709 ELLEN LEE 50.0 X 171985 0 15389 KATHERINE ZARICH 50.0 0.0 X 127873 13459 1098382 0 93313 12 false true false CAMBRIDGE ASSOCIATES 100 SUMMER STREET BOSTON MA 02110 INVESTMENT ADVISOR 666795 1 518993 78200 598025 10135466 4279363 11330684 ADMISSION FEES 900099 575955 575955 PROJECT INCOME 900099 58064 58064 RESTAURANT AND CATERING INCOME 722511 162292 162292 RENTAL INCOME 531190 253211 253211 CONSULTING SERVICES 541900 460657 170490 290167 286326 286326 1796505 804147 -129308 933455 0 0 0 0 0 58517727 0 50044041 142012 8473686 -142012 8331674 281720 8049954 139350 78200 72410 66940 66940 0 1186651 597076 589575 580164 9411 0 22919525 1924210 451990 9212641 0 0 0 0 449083 82023 285038 82022 0 10929330 9158807 927263 843260 500027 409525 55576 34926 1347471 1047939 149766 149766 806058 660166 89590 56302 0 44358 34588 6404 3366 78207 78207 0 0 666795 666795 1613339 1316478 121269 175592 344946 342219 2727 3334324 2808255 209239 316830 86227 44512 39474 2241 0 1658080 1368273 166906 122901 592240 539859 23190 29191 0 55265 47241 2009 6015 2204238 1793007 236766 174465 0 6360674 5246942 552457 561275 442654 380358 35867 26429 PURCHASE OF ART 672028 672028 MISCELLANEOUS EXPENSES 125353 81092 32648 11613 32310697 26033312 3681191 2596194 8557 8479 622913 1362058 3994715 3973954 288929 376702 0 0 0 0 0 0 538060 590889 1097640 871834 204834585 83277056 127281189 121557529 70469577 80423198 256921457 261222002 0 0 0 0 15702746 15735626 476925783 486122271 6801500 5254863 0 0 597000 609000 122600000 123078530 0 0 0 0 0 0 0 0 6530624 4246083 136529124 133188476 X 96672526 102435094 114611263 120370085 129112870 130128616 340396659 352933795 476925783 486122271 X -9391172 23011701 -1083393 X false true X true false X 15797794 8098659 16626615 5256372 11330684 57110124 0 0 15797794 8098659 16626615 5256372 11330684 57110124 9582152 47527972 3764077 3938205 5015637 1639597 804147 15161663 0 0 72271787 15861136 0.65763 0.46045 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 326327450 2308109 35480867 21016628 3423004 339676794 352322051 2404300 -7911860 20247179 239862 326327450 308065760 4944396 57901085 15016703 3572487 352322051 293458434 4189000 28507806 18041350 48130 308065760 393839051 12772283 -74513633 38639267 293458434 0.35000 0.36000 0.29000 false false 2899597 921861 3821458 166511627 60665475 105846152 33790777 22000690 11790087 710723 610891 99832 121557529 ALTERNATIVE INVESTMENTS 261222002 F 261222002 0 LIABILITY FOR CHARITABLE ANNUI 73209 LIABILITY FOR AMOUNTS HELD 327385 INTEREST RATE SWAP 3845489 4246083 44850524 23011701 3927486 26939187 17911337 666795 4341393 5008188 22919525 32313388 669486 669486 31643902 666795 666795 32310697 ELECTION UNDER SFAS 116 SCHEDULE D, PART III, LINE 1A IF ELECTED UNDER SFAS 116 PROVIDE FOOTNOTE FROM FINANCIAL STATEMENTS ACCORDING TO THE MUSEUM'S POLICY, COLLECTIONS INCLUDE ALL WORKS OF ART, HISTORICAL TREASURES, LIBRARY ACCESSIONS AND SIMILAR ASSETS THAT ARE (A) HELD FOR PUBLIC SERVICE RATHER THAN FINANCIAL GAIN, (B) PROTECTED, KEPT UNENCUMBERED, CARED FOR AND PRESERVED, AND (C) SUBJECT TO THE MUSEUM'S POLICY THAT REQUIRES THE PROCEEDS OF ITEMS THAT ARE SOLD TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THE COLLECTION, WHICH WAS ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, IS NOT RECOGNIZED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS TEMPORARILY OR PERMANENTLY RESTRICTED IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES, IF ANY, ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASS. ARTWORK FURTHERING EXEMPT PURPOSE SCHEDULE D, PART III, LINE 4 THE INDIANAPOLIS MUSEUM OF ART (IMA) WAS FOUNDED IN 1883 AS THE ART ASSOCIATION OF INDIANAPOLIS. TODAY, THE IMA IS THE FIFTH LARGEST ENCYCLOPEDIC ART MUSEUM IN THE UNITED STATES. HAVING CELEBRATED ITS 125TH ANNIVERSARY IN OCTOBER 2008, THE IMA IS ONE OF THE TEN LARGEST AND OLDEST ENCYCLOPEDIC ART MUSEUMS IN THE UNITED STATES. THE MISSION OF THE IMA IS "TO SERVE THE CREATIVE INTERESTS OF ITS COMMUNITIES BY FOSTERING EXPLORATION OF ART, DESIGN AND THE NATURAL ENVIRONMENT. THE IMA PROMOTES THESE INTERESTS THROUGH THE COLLECTION, PRESENTATION, INTERPRETATION AND CONSERVATION OF ITS ARTISTIC, HISTORIC AND ENVIRONMENTAL ASSETS." THE IMA ENCOMPASSES 152 ACRES AND 102,107 SQUARE FEET OF GALLERY SPACE DEVOTED TO THE IMA'S PERMANENT COLLECTION OF MORE THAN 54,000 OBJECTS. WORLD-RENOWNED AREAS OF THE COLLECTION INCLUDE CHINESE CERAMICS, BRONZES, AND JADES; EDO PERIOD PAINTINGS; AFRICAN ART (YORUBA, ASANTE, AND BENIN); OUTSTANDING HOLDINGS OF 17TH-CENTURY DUTCH AND FLEMISH PAINTING; THE FINEST NEO-IMPRESSIONIST COLLECTION IN NORTH AMERICA; PAINTINGS AND WATERCOLORS BY J.M.W. TURNER (THE LARGEST TURNER COLLECTION OUTSIDE OF THE TATE); AND MOROCCAN TEXTILES. OTHER STRENGTHS INCLUDE 17TH-18TH-CENTURY EUROPEAN PAINTING; INDIANA ARTISTS; AMERICAN IMPRESSIONISM; BALUCHI RUGS; PONT-AVEN WORKS; AND FASHION ARTS. THE CONTEMPORARY COLLECTION IS GROWING RAPIDLY IN QUANTITY AND QUALITY, HIGHLIGHTED BY A ROTATING EXHIBITION PROGRAM IN THE EFROYMSON FAMILY ENTRANCE PAVILION, THE MAYA LIN COMMISSION ABOVE AND BELOW, THE RECENTLY UNVEILED ROBERT IRWIN SCULPTURE LIGHT AND SPACE III, AND ONGOING COMMISSIONS TO TAKE PLACE IN 100 ACRES: THE VIRGINIA B. FAIRBANKS ART & NATURE PARK. DESIGN IS AN INSTITUTIONAL PRIORITY, UNDERSCORED BY THE DEVELOPMENT OF A DEPARTMENT OF DESIGN ARTS AND NUMEROUS DESIGN OBJECT ACQUISITIONS FOR THE PERMANENT COLLECTION. INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE MUSEUM'S ENDOWMENT CONSISTS OF APPROXIMATELY 150 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING ART PURCHASES, PROGRAM EXPENSES, BUILDING OPERATIONS, BOND COSTS, AND PERSONNEL EXPENSES. ASC 740 DISCLOSURE SCHEDULE D, PART X MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. RECONCILIATION OF REVENUE PER AFS SCHEDULE D, PART XII, LINE 2D COST OF GOOD SOLD $ 597,076 FUNDRAISING EVENTS EXPENSES 72,410 CHANGES IN VALUE OF INTEREST RATE SWAP 2,130,386 CHANGES IN ACCUM. POSTRETIREMENT BENEFITS 738,300 AMORT. OF NET PERIODIC PENSION COSTS 389,314 TOTAL $ 3,927,486 RECONCILIATION OF REVENUE PER AFS SCHEDULE D, PART XII, LINE 4B GIFTS OF ART $ 3,892,393 LOSS ON REFINANCING 449,000 TOTAL $ 4,341,393 RECONCILIATION OF EXPENSES PER AFS SCHEDULE D, PART XIII, LINE 2D COST OF GOOD SOLD $ 597,076 FUNDRAISING EVENTS EXPENSES 72,410 TOTAL $ 669,486 Europe (Including Iceland and Greenland) Investments N/A 3474692 Central America and the Caribbean Investments N/A 64067138 North America Investments N/A 1023053 68564883 68564883 true false true true true false NEW YEAR CELE. 119405 62000 57405 23518 2500 14640 ART SOCIETY 5O 98145 16200 81945 23943 7809 0 217550 78200 139350 47461 2500 22449 72410 66940 X X true true X X X X X false false false false false false false false true true JENNIFER BARTENBACH JUL - APR 154053 0 0 0 6490 13115 173658 0 0 J NICHOLAS CAMERON 135619 0 4382 71802 0 6855 218658 0 0 CYNTHIA RALLIS 186696 0 0 0 7252 7521 201469 0 0 LISA FREIMAN 140016 0 0 0 6115 16594 162725 0 0 ELLEN LEE 171985 0 0 0 6896 8493 187374 0 0 OTHER REPORTABLE COMPENSATION SCHEDULE J, PART II INCLUDED IN CHARLES VENABLE'S OTHER REPORTABLE COMPENSATION IS CELL PHONE, LIFE INSURANCE AND HOUSING EXPENSES ALL WHICH ARE TAXABLE COMPENSATION. CHARLES VENABLE'S SPOUSE IS REQUIRED TO ATTEND ONE EVENT PER YEAR FOR WHICH THE ORGANIZATION PROVIDES FOR TRAVEL EXPENSES. CHARLES VENABLE WILL REIMBURSE THE ORGANIZATION FOR ANY OTHER SPOUSAL TRAVEL EXPENSES. INITIAL CONTRACT EXCEPTION SCHEDULE J, LINE 8 CHARLES VENABLE ENTERED INTO AN INITIAL CONTRACT DURING OCTOBER 2012. THIS CONTRACT MEETS THE EXCEPTION DESCRIBED IN SECTION 53.4958-4(a)(3). A INDIANA DEVELOPMENT FINANCE AUTHORITY 351602316 45504RGC4 2004-05-12 51000000 CONSTRUCT AND EQUIP MUSEUM GROUNDS false false false B INDIANA FINANCE AUTHORITY 351602316 45506DJM8 2013-05-08 41985800 REFUNDING OF SERIES 2002 BONDS false false false C INDIANA FINANCE AUTHORITY 351602316 2013-03-25 26105000 REFUNDING OF SERIES 2001 BONDS false false false A 0 0 51478830 0 478831 0 385000 94051 0 50999780 0 0 2005 false false true true B 0 0 41985800 0 0 0 381800 0 0 0 41604000 0 true false true true C 0 0 26105000 0 0 0 102863 0 0 0 26002137 0 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true A false false true true true false 0 false 0 false true B false false true true false false 0 false 0 false true C false false true true true false 0 false 0 false true A true B true C true . 0 SCHEDULE K, PART II, LINE 3 COLUMN A 0 THE TOTAL PROCEEDS FROM ISSUE DIFFER FROM ISSUE PRICE DUE TO INTEREST EARNINGS IN THE AMOUNT OF $478,831. X 561 3892393 APPRAISAL X 31 386970 STOCK QUOTE 10 false true true THIRD PARTY WHO SELLS NON-CASH CONTRIBUTIONS SCHEDULE M, PART I, LINE 32B STIFEL NICOLAUS SELLS CONTRIBUTIONS OF STOCK RECEIVED BY THE ORGANIZATION. PROCESS TO REVIEW FORM 990 FORM 990, PART VI, QUESTION 11B THE CHIEF FINANCIAL OFFICER, FINANCE COMMITTEE CHAIR AS WELL AS AN INDEPENDENT ACCOUNTING FIRM COMPLETE A DETAILED REVIEW OF THE FORM 990 BEFORE IT IS SUPPLIED TO THE AUDIT COMMITTEE FOR THEIR REVIEW. THE ENTIRE BOARD RECEIVES A COPY OF THE FORM 990 BEFORE IT IS FILED. MONITORING & ENFORCEMENT OF COMPLIANCE WITH CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C THE INDIANAPOLIS MUSEUM OF ART HAS OFFICERS, DIRECTORS OR TRUSTEES, AND KEY EMPLOYEES COMPLETE CONFLICT OF INTEREST QUESTIONNAIRES ANNUALLY. THE CFO REVIEWS THE QUESTIONNAIRES ON AN ANNUAL BASIS. IF A CONFLICT IS NOTED, IT IS SUMMARIZED ON A SEPARATE DOCUMENT THAT IS THEN PRESENTED TO THE BOARD AND USED FOR COMPILATION OF THE 990. ANY BOARD MEMBER WHO HAS A CONFLICT OF INTEREST ABSTAINS FROM VOTING ON THE RELATED ISSUE AND MAY NOT BE INVOLVED IN ANY DISCUSSION PERTAINING TO THE PARTICULAR ISSUE. PROCESS TO DETERMINE CEO, OFFICER, & KEY EMPLOYEE COMPENSATION FORM 990, PART VI, LINES 15A & 15B UNDER THE DIRECTION OF THE BOARD, THE HR DEPARTMENT GATHERS INDEPENDENT MARKET DATA, INCLUDING THE ASSOCIATION OF ART MUSEUM DIRECTORS SURVEY AND PROVIDES IT TO THE COMPENSATION COMMITTEE TO REVIEW AND USE IN DETERMINING THE CEO'S AND KEY EMPLOYEES' SALARIES. THE CEO'S LAST COMPENSATION REVIEW TOOK PLACE IN MAY 2012. KEY EMPLOYEE COMPENSATION WAS LAST REVIEWED IN JUNE 2012. AVAILABILITY OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FS FORM 990, PART VI, LINE 19 THE INDIANAPOLIS MUSEUM OF ART DOES NOT MAKE ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. HOWEVER, FINANCIAL STATEMENTS AND THE FORM 990 ARE AVAILABLE ON THE WEBSITE. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 5 GIFTS OF ART $ (3,892,393) LOSS ON REFINANCING (449,000) CHANGES IN VALUE OF INTEREST RATE SWAP 2,130,386 CHANGES IN ACCUM. POSTRETIREMENT BENEFITS 728,300 AMORT. OF NET PERIODIC PENSION COSTS 389,314 TOTAL $ (1,083,393) OLDFIELDS LLC 4000 MICHIGAN ROAD INDIANAPOLIS IN 46208 REAL ESTATE IN -124 9142 NA CHARITABLE REMAINDER TRUSTS (2) TRUST IN NA TRUST false false false false false false false false false false false false false false false false false false false