VIRGINIA MUSEUM OF FINE ARTS FOUNDATION: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- VIRGINIA MUSEUM OF FINE ARTS FOUNDATION (EIN 51-0205333)
- Tax period
- 2011-07-01 to 2012-06-30
- Filed
- 2013-05-10
- IRS object ID
- 201321309349300347
- Schema version
- 2011v1.5
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-10T09:15:21-05:00 | Timestamp |
| Tax Period End Date | 2012-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 560747981 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DIXON HUGHES GOODMAN LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4510 COX ROAD SUITE 200 | AddressLine1 |
| City | GLEN ALLEN | City |
| State | VA | State |
| ZIP Code | 230603394 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 510205333 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA MUSEUM OF FINE ARTS FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | VIRG | NameControl |
| Phone | 8043401515 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 N BOULEVARD | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232204007 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | FERN SPENCER | Name |
| Title | TREASURER/CFO | Title |
| Phone | 8043401515 | Phone |
| Date Signed | 2013-05-07 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | ANGELA CAIN | Name |
| PTIN | P01244249 | PTIN |
| Phone | 8042827636 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | FERN SPENCER | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 N BOULEVARD | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232204007 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 93372848 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | N/A | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1976 | YearFormation |
| State Legal Domicile | VA | StateLegalDomicile |
| Activity Or Mission Description | THE VIRGINIA MUSEUM OF FINE ARTS FOUNDATION (FOUNDATION) WAS FOUNDED IN 1976 TO SUPPORT THE VIRGINIA MUSEUM OF FINE ARTS (MUSEUM), AN AGENCY OF THE COMMONWEALTH OF VIRGINIA.TO ACCOMPLISH ITS MISSION THE FOUNDATION ADMINISTERS A COMPREHENSIVE FUND RAISING PROGRAM, INVESTS PRIVATE ASSETS SUCH AS ENDOWMENTS, AND OWNS AND MAINTAINS PIECES OF REAL ESTATE USED BY THE MUSEUM FOR PROGRAM AND ADMINISTRATIVE FUNCTIONS. OF PARTICULAR NOTE ARE THE CAPITAL CAMPAIGN AND RETENTION OF CERTAIN VENDORS ON BEHALF OF THE CURRENT FACILITIES EXPANSION PROJECT. ALL SUCH ACTIVITIES ARE UNDERTAKEN AT THE REQUEST OF THE MUSEUM'S BOARD OF TRUSTEES. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 32 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 32 | NbrIndependentVotingMembers |
| Total Nbr Employees | 25 | TotalNbrEmployees |
| Total Nbr Volunteers | 34 | TotalNbrVolunteers |
| Total Gross UBI | 16005 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 8548 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 12373370 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 67643705 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 175283 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 105716 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 19577567 | InvestmentIncomePriorYear |
| Investment Income Current Year | 5317916 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 0 | OtherRevenuePriorYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 32126220 | TotalRevenuePriorYear |
| Total Revenue Current Year | 73067337 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 26344865 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 13288224 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 1243242 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 1351337 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 113491 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 667800 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1878411 | OtherExpensePriorYear |
| Other Expenses Current Year | 1468793 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 29580009 | TotalExpensesPriorYear |
| Total Expenses Current Year | 16108354 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 2546211 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 56958983 | RevenuesLessExpensesCY |
| Total Assets BOY | 198576455 | TotalAssetsBOY |
| Total Assets EOY | 246039638 | TotalAssetsEOY |
| Total Liabilities BOY | 56313703 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 56398041 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 142262752 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 189641597 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | THE MISSION OF THE VIRGINIA MUSEUM OF FINE ARTS FOUNDATION IS TO SUPPORT THE VIRGINIA MUSEUM OF FINE ARTS THROUGH A COMPREHENSIVE FUND RAISING AND DONOR CULTIVATION PROGRAM AND THE INVESTMENT AND MANAGEMENT OF PRIVATE ASSETS. THIS SUPPORT ENHANCES THE ABILITY OF THE VIRGINIA MUSEUM OF FINE ARTS TO COLLECT, PRESERVE, EXHIBIT, AND INTERPRET ART, AND ENCOURAGE THE STUDY OF THE ARTS, AND THUS ENRICH THE LIVES OF THE CITIZENS OF THE COMMONWEALTH OF VIRGINIA. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 13754861 | Expense |
| Grants | 13288224 | Grants |
| Revenue | 105716 | Revenue |
| Description | OVER THE PAST YEAR THE FOUNDATION HAS MANAGED THE PRIVATE INSTITUTIONAL ADVANCEMENT PROGRAM FOR THE VIRGINIA MUSEUM OF FINE ARTS, AN AGENCY OF THE COMMONWEALTH OF VIRGINIA. THE RESULTS OF THOSE FUND RAISING EFFORTS ARE REFLECTED IN THE DATA LISTED ON THIS RETURN. IN ADDITION, ENDOWMENTS HELD IN TRUST BY THE FOUNDATION FOR THE BENEFIT OF THE MUSEUM HAVE BEEN INVESTED, THE MANAGERS EVALUATED, THE INVESTMENT POLICY REVIEWED, AND FUNDS DISTRIBUTED IN ACCORDANCE WITH DONOR INTENT. | Description |
| Total Program Service Expense | 13754861 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 1 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 1 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 1 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Info In Schedule O Part V | X | InfoInScheduleOPartV |
| Number Forms Transmitted With1096 | 79 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 25 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 32 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 32 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | VA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | THE FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 8043401515 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 N BOULEVARD | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232204007 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | X | InfoInScheduleOPartVII |
Form990 Part VII Section A Form990PartVIISectionA (36 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| DR MONROE E HARRIS JR | ||||||
| PRESIDENT & DIRECTOR | 10.00 | X | X | 0 | 0 | 0 |
| BENJAMIN W RAWLES III | ||||||
| VICE PRESIDENT & DIRECTO | 10.00 | X | X | 0 | 0 | 0 |
| MONA D ALBERTINE | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| WILLIAM J ARMFIELD IV | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| KELLY B ARMSTRONG | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| MRS ROBERT W CABANISS JR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| JOHN R CURTIS JR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| FRANCES M DULANEY | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| DR MARY ANN FRABLE | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| NANCY H GOTTWALD | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| FREDDIE P GRAY | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| EVA TEIG HARDY | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| H HITER HARRIS III | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| ELLEN GRAY N MAYBANK | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| CAROLYN HSU-BALCER | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| KENNETH S JOHNSON SR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| KEITH R KISSEE | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| JAMES W KLAUS | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| CAROL LASCARIS | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| DR ANDREW M LEWIS | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| A JOHN LUCAS | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| CHARLOTTE M MINOR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| MARSHALL N MORTON | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| DR DAVID M RANDOLPH | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| JOHN MR REED | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| MARK B SISISKY | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| GEOFFREY P SISK | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| VANCE H SPILMAN | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| FRED T TATTERSALL | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| THOMAS H TULLIDGE JR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| DR JOSEPH R VILSECK JR | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| S PIERCE WALMSLEY V | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| DAVID B BRADLEY | ||||||
| SEC. & DEP. DIR. VMFAF ADM | 45.00 | X | 146138 | 0 | 30315 | |
| JESSICA FEREY | ||||||
| ASSISTANT SECRETARY | 20.00 | X | 0 | 0 | 0 | |
| ALEXANDER L NYERGES | ||||||
| CHIEF OPERATING OFFICER | 10.00 | X | 247305 | 0 | 9458 | |
| R FERN SPENCER | ||||||
| TREASURER/CFO | 10.00 | X | 67420 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 460863 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 39773 | TotalOtherCompensation |
| Number Individuals GT100 K | 1 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 1 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| LRG CONSTRUCTION | |||||
| PO BOX 29715 | RICHMOND | VA | 23242 | EXHIBITION & GALLERY CONSTRUCTION | 185889 |
| MONTICELLO ASSOCIATES | |||||
| 1200 17TH STREET SUITE 2600 | DENVER | CO | 80202 | INVESTMENT CONSULTING | 175000 |
| SILCHESTER INTERNATIONAL INVESTOR INC | |||||
| 370 LEXINGTON AVENUE SUITE 414 | NEW YORK | NY | 10168 | INVESTMENT MANAGEMENT | 163476 |
| IRIDIAN ASSET MANAGEMENT LLC | |||||
| 276 POST ROAD WEST | WESTPORT | CT | 06880 | INVESTMENT MANAGEMENT | 159740 |
| LEWIS MEDIA | |||||
| 500 LIBBLE AVENUE SUITE 2-C | RICHMOND | VA | 23226 | ADVERTISING | 149480 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 6 | NumberOfContractorsGT100K |
| All Other Contributions | 67643705 | AllOtherContributions |
| Noncash Contributions | 259650 | NoncashContributions |
| Total Contributions | 67643705 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| TRIP FEES | 900099 | 53107 | 53107 |
| TRIP AND TOUR COMMISSI | 900099 | 34119 | 34119 |
| MEMBERSHIP DUES | 900099 | 16970 | 16970 |
| TICKET SALES | 900099 | 1520 | 1520 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 105716 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1791276 | TotalRevenueColumn |
| Unrelated Business Revenue | 16005 | UnrelatedBusinessRevenue |
| Exclusion | $1,775,271 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 23832151 | Securities |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 20305511 | Securities |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 3526640 | Securities |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3526640 | TotalRevenueColumn |
| Exclusion | $3,526,640 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 73067337 | TotalRevenueColumn |
| Related Or Exempt Function Income | 105716 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 16005 | UnrelatedBusinessRevenue |
| Exclusion | $5,301,911 | ExclusionAmount |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 13288224 | Total |
| Program Services | 13288224 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 171700 | Total |
| Program Services | 63358 | ProgramServices |
| Management And General | 92502 | ManagementAndGeneral |
| Fundraising | 15840 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 905266 | Total |
| Program Services | 153246 | ProgramServices |
| Management And General | 322909 | ManagementAndGeneral |
| Fundraising | 429111 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 97845 | Total |
| Program Services | 19679 | ProgramServices |
| Management And General | 37741 | ManagementAndGeneral |
| Fundraising | 40425 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 85985 | Total |
| Program Services | 17294 | ProgramServices |
| Management And General | 33166 | ManagementAndGeneral |
| Fundraising | 35525 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 90541 | Total |
| Program Services | 18210 | ProgramServices |
| Management And General | 34924 | ManagementAndGeneral |
| Fundraising | 37407 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 60520 | Total |
| Management And General | 60520 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 42925 | Total |
| Management And General | 42925 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3928 | Total |
| Management And General | 3928 | ManagementAndGeneral |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 796249 | Total |
| Management And General | 796249 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 47253 | Total |
| Program Services | 38493 | ProgramServices |
| Management And General | 8760 | ManagementAndGeneral |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7323 | Total |
| Management And General | 7323 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 54989 | Total |
| Program Services | 10878 | ProgramServices |
| Management And General | 40977 | ManagementAndGeneral |
| Fundraising | 3134 | Fundraising |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 22441 | Total |
| Program Services | 600 | ProgramServices |
| Management And General | 21841 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 36173 | Total |
| Management And General | 36173 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33912 | Total |
| Program Services | 22525 | ProgramServices |
| Management And General | 6267 | ManagementAndGeneral |
| Fundraising | 5120 | Fundraising |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 42150 | Total |
| Management And General | 42150 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 46482 | Total |
| Management And General | 46482 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| SPECIAL EVENTS | 200315 | 95893 | 16184 | 88238 |
| MISCELLANEOUS | 55575 | 18988 | 23587 | 13000 |
| MISCELLANEOUS MUSEUM SU | 9795 | 500 | 9295 | |
| SECURITY | 4766 | 4374 | 392 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3997 | Total |
| Program Services | 2599 | ProgramServices |
| Management And General | 1398 | ManagementAndGeneral |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 16108354 | Total |
| Program Services | 13754861 | ProgramServices |
| Management And General | 1685693 | ManagementAndGeneral |
| Fundraising | 667800 | Fundraising |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 14684199 | BOY |
| EOY | 1864667 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5567233 | BOY |
| EOY | 2026612 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 1984157 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 1339351 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 670592 | BOY |
| EOY | 644806 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 81165100 | BOY |
| EOY | 117117707 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 80427702 | BOY |
| EOY | 105813723 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16061629 | BOY |
| EOY | 18572123 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 198576455 | BOY |
| EOY | 246039638 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 334450 | BOY |
| EOY | 515418 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 50000000 | BOY |
| EOY | 50000000 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 148333 | BOY |
| EOY | 123780 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5830920 | BOY |
| EOY | 5758843 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 56313703 | BOY |
| EOY | 56398041 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -17619183 | BOY |
| EOY | -19156990 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 73323517 | BOY |
| EOY | 62412937 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 86558418 | BOY |
| EOY | 146385650 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 142262752 | BOY |
| EOY | 189641597 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 198576455 | BOY |
| EOY | 246039638 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 56958983 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | -9580138 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 16533041 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 13251705 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 10511455 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 12548653 | CurrentTaxYearMinus1Year |
| Current Tax Year | 12691826 | CurrentTaxYear |
| Total | 65536680 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 16533041 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | 13251705 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 10511455 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 12548653 | CurrentTaxYearMinus1Year |
| Current Tax Year | 12691826 | CurrentTaxYear |
| Total | 65536680 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 1201171 | AmountsSubstContributorsTotal |
| Public Support Total170 | 64335509 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | 6535013 | CurrentTaxYearMinus4Years |
| Current Tax Year Minus3 Years | -1482929 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 3381248 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 19577567 | CurrentTaxYearMinus1Year |
| Current Tax Year | 5317916 | CurrentTaxYear |
| Total | 33328815 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 98865495 | TotalSupport |
| Public Support Pertcentage170 | 0.65070 | PublicSupportPertcentage170 |
| Public Support Pertcent Prior Year | 0.64530 | PublicSupportPertcentPriorYear |
| Thirty Three Percnt Tests CY170 | X | ThirtyThreePercntTestsCY170 |
| General Explanation | SCHEDULE A, PART IV, LIST OF UNUSUAL GRANTS: ART PURCHASE ENDOWMENT DATE: 02/03/12 AMOUNT: 58678820. | GeneralExplanation |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | Volunteers |
| Paid Staff Or Management | 0 | PaidStaffOrManagement |
| Media Advertisements | 0 | MediaAdvertisements |
| Mailings Members | 0 | MailingsMembers |
| Publications Or Broadcast | 0 | PublicationsOrBroadcast |
| Grants Other Organizations | 0 | GrantsOtherOrganizations |
| Direct Contact Legislators | 0 | DirectContactLegislators |
| Rallies Demonstrations | 0 | RalliesDemonstrations |
| Other Activities | 1 | OtherActivities |
| Other Activities | $3,928 | OtherActivitiesAmount |
| Total Lobbying Expenditures IIB | 3928 | TotalLobbyingExpendituresIIB |
| Not Described In501c3 | 0 | NotDescribedIn501c3 |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF LOBBYING ACTIVITIES: | Identifier |
| Return Reference | PART II-B, LINE 1: | ReturnReference |
| Explanation | THE FOUNDATION PAID AN ATTORNEY TO ASSIST IN REPRESENTING THE MUSEUM'S INTERESTS ON BUDGETARY ISSUES BEFORE THE STATE LEGISLATURE RELATED TO ITS ANNUAL OPERATING APPROPRIATION. | Explanation |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 159032705 | BeginningOfYearBalance |
| Contributions | 48697427 | Contributions |
| Investment Earnings Or Losses | -3045769 | InvestmentEarningsOrLosses |
| Other Expenditures | 7964226 | OtherExpenditures |
| End Of Year Balance | 196720137 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 135610533 | BeginningOfYearBalance |
| Contributions | 1233709 | Contributions |
| Investment Earnings Or Losses | 31951240 | InvestmentEarningsOrLosses |
| Other Expenditures | 9762777 | OtherExpenditures |
| End Of Year Balance | 159032705 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 124428369 | BeginningOfYearBalance |
| Contributions | 2470325 | Contributions |
| Investment Earnings Or Losses | 15831515 | InvestmentEarningsOrLosses |
| Other Expenditures | 7119676 | OtherExpenditures |
| End Of Year Balance | 135610533 | EndOfYearBalance |
Current Year Minus3 Years CurrentYearMinus3Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 164638416 | BeginningOfYearBalance |
| Contributions | 1657238 | Contributions |
| Investment Earnings Or Losses | -31622895 | InvestmentEarningsOrLosses |
| Other Expenditures | 10244390 | OtherExpenditures |
| End Of Year Balance | 124428369 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.02610 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.97390 | PermanentEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 0 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1984157 | OtherCostOrOtherBasis |
| Depreciation | 1339351 | Depreciation |
| Book Value | 644806 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 644806 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | LIMITED PARTNERSHIPS AND HEDGE FUNDS | Description |
| Book Value | 105813723 | BookValue |
| Method Of Valuation | F | MethodOfValuation |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 105813723 | TotalOfBookValueSecurities |
Other Assets OtherAssets (5 entries)
| DescriptionDescription | Book ValueBookValue |
|---|---|
| BENEFICIAL INTERESTS IN REMAINDER TRUSTS | 17841902 |
| CAPITALIZED BOND ISSUE COSTS - NET | 530408 |
| INVESTMENT INCOME RECEIVABLE | 110298 |
| CASH SURRENDER VALUE OF LIFE INSURANCE | 40695 |
| RETIREMENT TRUST | 48820 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 18572123 | TotalBookValueOtherAssets |
Other Liabilities OtherLiabilities (4 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ANNUITIES PAYABLE | $5,283,448 |
| INTEREST RATE SWAP PAYABLE | $427,992 |
| DUE TO AFFILIATE | $37,403 |
| OTHER LIABILITIES | $10,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 5758843 | TotalOfAmounts |
| Total Revenue | 73067337 | TotalRevenue |
| Total Expenses | 16108354 | TotalExpenses |
| Excess Or Deficit For Year | 56958983 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | -7845696 | NetUnrealizedGLOnInvestments |
| Other | -$1,734,442 | OtherAmount |
| Total Adjustments | -9580138 | TotalAdjustments |
| Excess Or Deficit Per FS | 47378845 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 62713014 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | -7845696 | NetUnrealizedGainsInvestments |
| Other Revenues | -1712378 | OtherRevenues |
| Revenue Not Rptd F990 | -9558074 | RevenueNotRptdF990 |
| Revenue Subtotal | 72271088 | RevenueSubtotal |
| Other Revenues Not Included | 796249 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 796249 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 73067337 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 15368095 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 55990 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 55990 | ExpensesNotRptdF990 |
| Expenses Subtotal | 15312105 | ExpensesSubtotal |
| Other Expenses Not Included | 796249 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 796249 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 16108354 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (7 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | THE FOUNDATION'S ENDOWMENT CONSISTS OF VARIOUS INDIVIDUAL FUNDS THAT WERE ESTABLISHED FOR A VARIETY OF PURPOSES. THE FOUNDATION SPENDS IN ACCORDANCE WITH A BOARD ADOPTED POLICY BASED UPON ACCUMULATED EARNINGS AS DIRECTED BY DONORS AND ACTIONS OF THE BOARD OF DIRECTORS. THE PRIMARY OBJECTIVE OF THE ENDOWMENT FUNDS IS LONG-TERM CAPITAL APPRECIATION AND TOTAL RETURN. |
| DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: | PART X: | THE FINE ARTS FOUNDATION HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE (IRS) DATED FEBRUARY 18, 1977, STATING THAT THEY ARE EXEMPT FROM INCOME TAXES AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE FOUNDATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2012. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | CHANGE IN FAIR MARKET VALUE OF TRUSTS AND ANNUITIES -1,521,641. CHANGE IN FAIR MARKET VALUE OF INTEREST RATE SWAP -190,736. CHANGE IN DONOR RESTRICTIONS -22,065. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,734,442. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN FMV OF TRUSTS AND ANNUITIES AND INTEREST RATE SWAP (NET) -1,712,378. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | INVESTMENT MANAGEMENT FEES NETTED AGAINST INCOME ON FINANCIAL STATEMENTS 796,249. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | REPORTED ON VIRGINIA MUSEUM REAL ESTATE FOUNDATION 990EZ 55,990. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | INVESTMENT MANAGEMENT FEES NETTED AGAINST INCOME ON FINANCIAL STATEMENTS 796,249. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Recipient Table RecipientTable
Recipient Name Business RecipientNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA MUSEUM OF FINE ARTS | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 NORTH BOULEVARD | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 23220 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN Of Recipient | 546001804 | EINOfRecipient |
| Amount Of Cash Grant | 13288224 | AmountOfCashGrant |
| Purpose Of Grant | TO ASSIST IN IMPLEMENTING AND FUNDING PROGRAMS, PROJECTS, AND OPERATIONS OF THE VIRIGNIA MUSEUM OF FINE ARTS. FOR THE YEAR ENDED JUNE 30, 2012, ASSISTANCE WAS USED FOR CURATORIAL, MUSEUM EXPANSION, EDUCATION AND OUTREACH, AND MANAGEMENT AND GENERAL EXPENSES. | PurposeOfGrant |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Nbr Of501 C3 And Govt Grants | 1 | TotalNbrOf501C3AndGovtGrants |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: THE ORGANIZATION WAS FORMED FOR THE PURPOSE OF IMPLEMENTING AND FUNDING PROGRAMS, PROJECTS AND OPERATIONS OF THE VIRGINIA MUSEUM OF FINE ARTS, WHICH ARE AUTHORIZED AND APPROVED BY THE BOARD OF TRUSTESS OF THE VIRGINIA MUSEUM OF FINE ARTS. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Independent Consultant | X | IndependentConsultant |
| Form990 Of Other Organizations | X | Form990OfOtherOrganizations |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 1 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (2 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID B BRADLEY | |||||||||||||
| 146138 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30315 | 0 | 176453 | 0 | 0 | 0 |
| ALEXANDER L NYERGES | |||||||||||||
| 66863 | 0 | 0 | 0 | 180442 | 0 | 9458 | 0 | 0 | 0 | 256763 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII (2 entries)
| Return ReferenceReturnReference | ExplanationExplanation |
|---|---|
| PART I, LINE 1A | ALEXANDER L. NYERGES, CHIEF OPERATING OFFICER (COO) IS CONTRACTUALLY REQUIRED TO LIVE IN A RESIDENCE OWNED AND HELD IN TRUST BY THE FOUNDATION. HE IS REQUIRED TO USE THIS RESIDENCE IN PERFORMING A PORTION OF HIS DUTIES AS DIRECTOR OF THE MUSEUM. THE FOUNDATION IS RESPONSIBLE FOR SUBSTANTIALLY ALL EXPENSES RELATED TO THE RESIDENCE WITH THE EXCEPTION OF CLEANING AND FURNISHING PRIVATE AREAS AND PERSONAL UTILITIES SUCH AS TELEPHONE AND CABLE. THIS HOUSING BENEFIT IS ESTIMATED TO BE $2,900 PER MONTH. SINCE THE COO IS TECHNICALLY AN EMPLOYEE OF THE MUSEUM AND NOT THE FOUNDATION, THE HOUSING BENEFIT WAS REPORTED AS TAXABLE COMPENSTAION ON THE COO'S W-2 RECEIVED FROM THE MUSEUM. HOWEVER, SINCE THE HOUSING BENEFIT WAS PROVIDED BY THE FOUNDATION, THIS AMOUNT HAS BEEN INCLUDED IN THE FOUNDATION'S 990, PART VII, SECTION A, COLUMN D. |
| PART I, LINE 4B | DURING THE CURRENT YEAR THE FOUNDATION MADE TOTAL PAYMENTS OF $9,458 TO A NON-QUALIFIED RETIREMENT PLAN FOR THE BENEFIT OF ALEXANDER L. NYERGES, THE FOUNDATION'S CHIEF OPERATING OFFICER. SINCE THE COO IS FULLY VESTED IN THESE CONTRIBUTIONS, THE RELATED AMOUNTS HAVE BEEN REPORTED ON FORM 990, PART VII, SECTION A OR SCHEDULE J. ALSO DURING THE CURRENT YEAR THE FOUNDATION ESTABLISHED A 457(B) PLAN AND A SUPPLEMENTAL BENEFIT AGREEMENT FOR THE BENEFIT OF THE FOUNDATION'S COO. THE FOUNDATION ACCRUED A $2,000 LIABILITY RELATED TO THE 457(B) PLAN AND A $98,000 LIABILITY RELATED TO THE SUPPLEMENTAL BENEFIT AGREEMENT. THESE AMOUNTS ARE NOT REPORTED IN PART VII, SECTION A OR SCHEDULE J. |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer | Pool FinancingPoolFinancing |
|---|---|---|---|---|---|---|---|
| VIRGINIA SMALL BUSINESS FINANCING AUTHORITY | |||||||
| 541300845 | 928104JL3 | 2005-08-25 | 30000000 | FINANCING OF MUSEUM RENOVATIONS | 0 | 0 | 0 |
| VIRGINIA SMALL BUSINESS FINANCING AUTHORITY | |||||||
| 541300845 | 928104KM9 | 2008-08-28 | 20000000 | FINANCING OF MUSEUM RENOVATIONS | 0 | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Total ProceedsTotalProceeds | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Capital ExpendituresCapitalExpenditures | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind |
|---|---|---|---|---|---|---|---|
| 30000000 | 309244 | 29690756 | 2010 | 0 | 0 | 1 | 1 |
| 20000000 | 344139 | 19655861 | 2010 | 0 | 0 | 1 | 1 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 1 |
| 0 | 0 | 0 | 0 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Term Of HedgeTermOfHedge | Superintegrated HedgeSuperintegratedHedge | Hedge TerminatedHedgeTerminated | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|---|---|---|
| WELLS FARGO | ||||||||
| 1 | 1 | 1 | 1.165000000000 | 0 | 0 | 0 | 0 | 0 |
| WELLS FARGO | ||||||||
| 0 | 1 | 1 | 1.165000000000 | 0 | 0 | 0 | 0 | 0 |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 33 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 259650 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR MARKET VALUE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 1 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | THIRD PARTY USE: | Identifier |
| Return Reference | PART I, LINE 32B: | ReturnReference |
| Explanation | THE FOUNDATION USES STOCK BROKERS TO SELL GIFTS OF PUBLICLY TRADED STOCK. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990, PART V, LINE 4A: | DURING CALENDAR YEAR 2011, THE ORGANIZATION HELD FOREIGN HEDGE FUND INVESTMENTS. UNDER GUIDANCE PROVIDED IN IRS NOTICE 2010-23 AND FINCEN 31 CFR PART 103, A FINANCIAL INTEREST IN, OR SIGNATURE AUTHORITY OVER, A FOREIGN HEDGE FUND OR PRIVATE EQUITY FUND DOES NOT REQUIRE THE ORGANIZATION TO FILE FORM TD F 90-22.1, REPORT OF FOREIGN BANK AND FINANCIAL ACCOUNTS. IRS NOTICE 2010-23 ALSO STATES THAT "PROVIDED THE TAXPAYER HAS NO OTHER REPORTABLE FOREIGN FINANCIAL ACCOUNTS FOR THE YEAR IN QUESTION, A TAXPAYER WHO QUALIFIES FOR THE FILING RELIEF PROVIDED IN THIS NOTICE SHOULD CHECK THE "NO" BOX IN RESPONSE TO FBAR-RELATED QUESTIONS FOUND ON FEDERAL TAX FORMS. THEREFORE, THE ORGANIZATION HAS CHECKED "NO" ON FORM 990, PART V, LINE 4A. | |
| FORM 990, PART VI, SECTION B, LINE 11 | THE DRAFT OF THE 990 RETURN WAS INITIALLY REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THE MUSEUM DIRECTOR WITH THE ASSISTANCE OF THE INDEPENDENT EXTERNAL AUDITORS. IN ACCORDANCE WITH THE BY-LAWS IT WAS NEXT REVIEWED BY THE GOVERNANCE AND AUDIT COMMITTEE WITH THE ASSISTANCE OF MANAGEMENT. IT WAS ALSO MADE AVAILABLE TO THE BOARD OF DIRECTORS PRIOR TO SUBMITTAL. | |
| FORM 990, PART VI, SECTION B, LINE 12C | A CONFLICT OF INTEREST POLICY, WITH A COMPLAINT PROCEDURE WAS ADOPTED IN 2004 AND WAS STRENGTHENED IN 2009 WITH THE INCLUSION OF A SEPARATE WHISTLE BLOWERS POLICY AND QUESTIONNAIRE. ALL DIRECTORS AND STAFF MEMBERS HAVE BEEN BRIEFED ON THEIR OBLIGATIONS UNDER THE POLICY. ANNUALLY THE DIRECTORS AND STAFF MEMBERS ARE REQUIRED TO COMPLETE THE QUESTIONNAIRE AND DISCLOSE ANY CONFLICT THEY HAVE. IN ADDITION, THE CORPORATE SECRETARY AND GENERAL COUNSEL ARE PREPARED TO RESPOND TO INQUIRIES AND VIOLATIONS TO THE POLICY AND RESPOND ACCORDINGLY. | |
| FORM 990, PART VI, SECTION B, LINE 15 | THE ORGANIZATION'S BUDGET COMPENSATION COMMITTEE REVIEWS AND APPROVES THE SALARY OF OFFICERS AND KEY EMPLOYEES. | |
| FORM 990, PART VI, SECTION C, LINE 19 | INFORMATION IS PROVIDED UPON REQUEST. | |
| FORM 990, PART VII, LINE 5: | DURING FISCAL YEAR 2011, THE FOUNDATION ENTERED INTO AN OPERATING AGREEMENT WITH THE VIRGINIA MUSEUM OF FINE ARTS, AN UNRELATED ORGANIZAITON UNDER IRS GUIDELINES. THE OPERATING AGREEMENT STATES THAT THE DIRECTOR OF THE MUSEUM SHALL ALSO SERVE AS THE COO OF THE FOUNDATION AND THE CFO OF THE MUSEUM SHALL ALSO SERVE AS THE CFO OF THE FOUNDATION. HOWEVER, NEITHER OF THESE INDIVIDUALS WILL BE CONSIDERED EMPLOYEES OF THE FOUNDATION. AS PART OF A SUPPLEMENTAL SUPPORT AGREEMENT BETWEEN THE FOUNDATION AND THE COO, THE FOUNDATION MAKES PAYMENTS TO THE MUSEUM FOR SUPPLEMENTAL SALARY AMOUNTS WHICH ARE PAID BY THE MUSEUM TO THE COO AS PART OF HIS SALARY. THESE AMOUNTS TOTALED $291,127 FOR THE YEAR. IN ADDITION, THE FOUNDATION ALSO PROVIDES A HOUSING BENEFIT TO THE COO ESTIMATED TO BE VALUED AT $2,900 PER MONTH. BOTH THE SALARY SUPPLEMENT AND HOUSING BENEFIT PROVIDED TO THE COO BY THE FOUNDATION WERE INCLUDED AS TAXABLE COMPENSTATION IN THE COO'S W-2 FROM THE MUESUM. | COMPENSATION FROM ANY UNRELATED ORGANIZATION |
| FORM 990, PART XI, LINE 5: | NET UNREALIZED LOSSES ON INVESTMENTS: -7,845,696. CHANGE IN FAIR MARKET VALUE OF TRUSTS AND ANNUITIES -1,521,641. CHANGE IN FAIR MARKET VALUE OF INTEREST RATE SWAP -190,736. CHANGE IN DONOR RESTRICTIONS -22,065. TOTAL TO FORM 990, PART XI, LINE 5: -9,580,138. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XI, LINE 2C: | THERE ARE NO REPORTABLE CHANGES TO THE ORGANIZATION'S OVERSIGHT PROCESS FROM THE PRIOR TAX YEAR. |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA MUSEUM REAL ESTATE FOUNDATION | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 N BOULEVARD | AddressLine1 |
| City | RICHMOND | City |
| State | VA | State |
| ZIP Code | 232204007 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 541630084 | EIN |
| Primary Activities | REAL ESTATE MANAGEMENT RELATED TO REAL PROPERTY HELD IN SUPPORT OF VMFA | PrimaryActivities |
| Legal Domicile State | VA | LegalDomicileState |
| Exempt Code Section | 501(C)(3) | ExemptCodeSection |
| Public Charity Status | LINE 11A, I | PublicCharityStatus |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | VIRGINIA MUSEUM OF FINE ARTS FOUNDATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Org | 1 | ControlledOrg |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 0 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 0 | SharingOfFacilities |
| Sharing Of Paid Employees | 0 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |