2013-05-15T09:24:29-05:00 2012-06-30 135565207 KPMG LLP 1676 INTERNATIONAL DRIVE MCLEAN VA 22102 990 2011-07-01 231365388 Philadelphia Museum of Art PHIL 2157638100 PO Box 7646 Philadelphia PA 191017646 ROBERT T RAMBO 2156847801 2013-05-15 1 KPMG P00634378 7032868000 2011 2016-02-24 21:20:13Z Timothy Rub PO Box 7646 Philadelphia PA 191017646 154247313 0 X www.philamuseum.org X 1876 PA Collecting, maintaining and displaying works of art. 70 68 757 405 -1179269 -1227197 43990030 56421946 7518362 9443495 17116523 9152459 2130985 4850616 70755900 79868516 0 0 0 0 24553728 25982748 14990 342903 4588132 37877590 36800381 62446308 63126032 8309592 16742484 728107814 732680042 91964661 98604793 636143153 634075249 X See Schedule O.The Philadelphia Museum of Art in partnership with the city, the region and art museums around the globe - seeks to preserve, enhance, interpret and extend the reach of its great collections in particular and the visual arts in general, to an increasing and increasingly diverse audience as a source of delight, illumination, and lifelong learning. 0 0 3784696 The acquisition of approximately 57 works of art for display in the Museum, serving the general public. 1667500 2750574 Special exhibition - Van Gogh Up Close: Vincent van Gogh was an artist of exceptional intensity, not only in his use of color and exuberant application of paint, but also in his personal life. Drawn powerfully to nature, his works--particularly those created in the years just before he took his own life--engage the viewer with the strength of his emotions. This exhibition focuses on these tumultuous years, a period of feverish artistic experimentation that began when van Gogh left Antwerp for Paris in 1886 and continued until his death in Auvers in 1890. 2466726 532020 Education programs for children, disabled, and general public to provide a better understanding of Museum's collection & art in general. Program attendance - 174,482. 2292214 0 Conservation of works of art - restoration, repair and preservation of various objects in the collections during fiscal year 2012. 16770008 0 Security & maintenance 6287204 0 Curatorial and collections activities 1883534 2470489 Museum shop operating expenses 1205289 0 Marketing 4236725 840982 Various special exhibitions 1896701 215266 Various publications 4420091 4566682 Membership and visitor services 289859 143624 Rights & reproductions and photography 521688 394347 Group sales and special events 120742 0 External affairs 1918601 0 Information services, audio visual and telecommunications 910023 0 Library and community programs 42752679 8631390 50671601 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 X 248 0 1 757 1 1 1 1 CJ CA EI VI 0 0 0 1 1 0 0 0 0 X 70 68 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 PA NJ NY CT FL X Robert T Rambo 2156847801 PO Box 7646 Philadelphia PA 191017646 X Timothy F Rub 35.00 X X 470114 0 36776 Gail M Harrity 35.00 X X 348167 0 25888 John R Alchin 1.00 X 0 0 0 Dennis Alter 1.00 X 0 0 0 Barbara Aronson 1.00 X 0 0 0 Sheldon M Bonovitz 1.00 X 0 0 0 Ira Brind 1.00 X 0 0 0 Julian Brodsky 1.00 X 0 0 0 Priscilla S Brown 1.00 X 0 0 0 Renee Chenault-Fattah 1.00 X 0 0 0 Dr Constance E Clayton 1.00 X 0 0 0 Betsy Z Cohen 1.00 X 0 0 0 Peter D Davenport 1.00 X 0 0 0 Hon Nelson A Diaz 1.00 X 0 0 0 Edith Robb Dixon 1.00 X 0 0 0 John G Drosdick 1.00 X 0 0 0 Edward Fernberger Jr 1.00 X 0 0 0 Jaimie Spector Field 1.00 X 0 0 0 Penny Fox 1.00 X 0 0 0 Mrs Jack M Friedland 1.00 X 0 0 0 David Haas 1.00 X 0 0 0 Lynne Honickman 1.00 X 0 0 0 Joan M Johnson 1.00 X 0 0 0 Kenneth S Kaiserman 1.00 X 0 0 0 James Nelson Kise 1.00 X 0 0 0 Berton E Korman 1.00 X 0 0 0 Ronald P Lassin 1.00 X 0 0 0 Victoria McNeil Le Vine 1.00 X 0 0 0 Maxine Lewis 1.00 X 0 0 0 Charles E Mather III 1.00 X 0 0 0 John H McFadden 1.00 X 0 0 0 Mary Patterson McPherson 1.00 X 0 0 0 John J Medveckis 1.00 X 0 0 0 Harvey S Shipley Miller 1.00 X 0 0 0 Martha Hamilton Morris 1.00 X 0 0 0 Ronald J Naples 1.00 X 0 0 0 Theodore T Newbold 1.00 X 0 0 0 John A Nyheim 1.00 X 0 0 0 Raymond G Perelman 1.00 X 0 0 0 Lynda Resnick 1.00 X 0 0 0 Mark E Rubenstein 1.00 X 0 0 0 Keith L Sachs 1.00 X 0 0 0 David William Seltzer 1.00 X 0 0 0 Martha McGeary Snider 1.00 X 0 0 0 Marion Stroud Swingle 1.00 X 0 0 0 Bruce E Toll 1.00 X 0 0 0 Constance H Williams 1.00 X 0 0 0 Dr John T Williams 1.00 X 0 0 0 Jerry Wind 1.00 X 0 0 0 Charles K Williams II 1.00 X 0 0 0 Mickey Cartin 1.00 X 0 0 0 H Richard Dietrich III 1.00 X 0 0 0 Dr Donald B Parks 1.00 X 0 0 0 Lyn M Ross 1.00 X 0 0 0 Tom Corbett 1.00 X 0 0 0 Michael A Nutter 1.00 X 0 0 0 Darell L Clark 1.00 X 0 0 0 Charles J Ingersoll 1.00 X 0 0 0 Anja Levitties 1.00 X 0 0 0 Liz Price 1.00 X 0 0 0 Peter H Goodhart 1.00 X 0 0 0 Daniel J Phelan 1.00 X 0 0 0 Marsha W Rothman 1.00 X 0 0 0 Gretchen Burke 1.00 X 0 0 0 Angelica Zander Rudenstine 1.00 X 0 0 0 Joan F Thalheimer 1.00 X 0 0 0 Marta Adelson 1.00 X 0 0 0 Osagie O Imasogie 1.00 X 0 0 0 Leslie A Miller 1.00 X 0 0 0 Pia Roy Chowdhury 1.00 X 0 0 0 Ruth M Colket 1.00 X 0 0 0 HF Gerry Lenfest 1.00 X 0 0 0 Andrew M Rouse 1.00 X 0 0 0 Anna C Verna 1.00 X 0 0 0 Mary Anne Dutt Justice 1.00 X 0 0 0 Robert T Rambo 35.00 X 231422 0 25253 Lawrence Berger 35.00 X 141819 0 12583 Kelly M O'Brien 35.00 X 203527 0 20849 Ali Shaikholislami 35.00 X 166446 0 14138 Alice Beamesderfer 35.00 X 147838 0 21000 Stuart Gerstein 35.00 X 130597 0 13169 Robin E Proctor 35.00 X 138301 0 20546 Lesley Pratt 35.00 X 131349 0 20025 William Weinstein 35.00 X 126215 0 17904 2235795 0 228131 26 0 1 0 Gehry Partners LLP 12541 Beatrice Street Los Angeles CA 90066 Architects 5136559 Allied Barton Sercurity Services 161 Washington Street Suite 600 Conshohocken PA 19428 Security 4824956 LF Driscoll Co 9 PRESIDENTIAL BOULEVARD Bala Cynwyd PA 19004 Construction 4442017 Madison Concrete Construction 130 QUAKER LANE MALVERN PA 19355 Construction 2195878 AEGIS PROPERTY GROUP 1600 MARKET STREET SUITE 1701 Philadelphia PA 19103 Project Management 816644 12 8348420 18348330 29725196 3959177 56421946 Admissions 900099 6077202 6077202 Parking revenues 812930 996787 996787 Audio Tours 900099 615925 615925 Education programs 611710 532020 532020 Concession fees 900099 374057 374057 847504 847504 9443495 3900805 -1188181 5088986 76660391 71408737 5251654 5251654 5251654 5440549 2970060 2470489 2470489 Sale of art objects 900099 1831548 1831548 Miscellaneous 900099 539667 539667 Other investment incom 900000 8912 8912 2380127 79868516 10543140 -1179269 14082699 1538193 679951 858242 19299546 15541324 1385711 2372511 807364 650363 78716 78285 2658676 2273373 143869 241434 1678969 1307111 179598 192260 80000 80000 71862 71862 90781 90781 342903 342903 2919630 2919630 1699606 1699606 2816595 2312651 197436 306508 314542 240227 34657 39658 8743094 8215632 332913 194549 386986 330262 53643 3081 44002 36451 7137 414 804015 610160 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED 106065 106065 63019967 63126032 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 78486 90732 113144 106065 388427 250000 250000 250000 250000 1000000 1500000 X X X X 0 363013624 8723595 -9138864 17245017 345353338 306840267 8274320 64541782 16642745 363013624 268481033 17464919 37345507 16451192 306840267 346808622 9475535 -69864722 17938402 268481033 0.21000 0.79000 1 0 2983347 2983347 204321346 48860417 155460929 11588242 5588988 5999254 84119445 84119445 248562975 Limited partnerships and other 47736879 F Global bond funds 13902755 F US stock funds 23675839 F Global stock funds 36335038 F Global(exUS)developed mkts stock fds 37659587 F Global(exUS)emerging mkts stock fds 30756209 F Hedge funds 69485938 F Private equity & venture capital fds 20647682 F 280199927 Obligations under split-interest agreements 2567099 Contractual obligations 5377594 7944693 79868516 63126032 16742484 -15044894 -3765494 -18810388 -2067904 82868946 2950000 2970060 5920060 76948886 2919630 2919630 79868516 84936850 2950000 21780448 24730448 60206402 2919630 2919630 63126032 Part III, Line 1a: The collections, which were acquired through purchases and contributions since the Museum's inception, are not recognized as assets on the statement of financial position. Purchases of collection items are recorded as decreases in net assets in the year in which the items are acquired. Unexpended proceeds from deaccessions are reflected in the unrestricted net asset class. Their use is limited, however, by museum professional standards, which require that such proceeds be made available solely for acquisition of other art objects. Part III, Line 4: The Museum is home to over 227,000 objects, spanning the creative achievements of the Western world since the first century AD and those of Asia since the third millennium BC. The European holdings date from the Medieval era to the present, and the collection of arms and armor is the second largest in the United States. The American collections are among the finest in the country, as are the expanding collections of modern and contemporary art. In addition, the Museum houses encyclopedic holdings of costume and textiles as well as prints, drawings, and photographs that are displayed in rotation for reasons of preservation. Description of Intended Use of Endowment Funds: Part V, Line 4: The endowment is used to maintain the collection of artwork and to acquire future works of art that enhance and promote the mission of the Philadelphia Museum of Art. Description of Uncertain Tax Positions Under FIN 48: Part X: The Museum has been recognized by the Internal Revenue Service as exempt from federal income tax under Section 501(c)(3) of the U.S. Internal Revenue Code, except for taxes on income from activities unrelated to its exempt purpose. Accordingly, no provision for income taxes has been made in the accompanying financial statements. Accounting principles generally accepted in the United States require management to evaluate tax positions taken by the Museum and recognize a tax liability (or asset) if the museum has an uncertain tax position that more likely than not would not be sustained upon examination by the IRS. Management has concluded that as of June 30, 2012, there are no uncertain tax positions taken or expected to be taken by the Museum that would require recognition of a liability (or asset) or disclosure in the financial statements. Part XI, Line 8 - Other Adjustments: Change in fair value of interest rate exchange agreement -3,765,494. Part XII, Line 2d - Other Adjustments: Cost of goods sold 2,970,060. Part XIII, Line 2d - Other Adjustments: Cost of goods sold 2,970,060. Change in FMV of interest rate exchange agreements 3,765,494. Net unrealized losses on investments 15,044,894. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 58912596 EUROPE 0 0 INVESTMENTS 11500000 0 0 0 0 0 0 70412596 0 70412596 0 0 1 1 1 0 X X X 1 GRENZEBACH GLIER & ASSOCIATES INC 401 N MICHIGAN AVENUE SUITE 2800 CHICAGO PA 60611 CONSULTANT 0 0 342093 -342093 342093 -342093 PA NJ NY CT FL Explanation of Fundraising Payments Schedule G, Part I, Line 2b, Column (v) CONSULTING SERVICES X X X X 0 0 0 0 0 0 0 0 0 Timothy F Rub 468824 0 0 0 1290 0 12250 0 24526 0 506890 0 0 0 Gail M Harrity 346532 0 0 0 1635 0 12250 0 13638 0 374055 0 0 0 Robert T Rambo 228527 0 0 0 2895 0 11615 0 13638 0 256675 0 0 0 Lawrence Berger 140390 0 0 0 1429 0 6645 0 5938 0 154402 0 0 0 Kelly M O'Brien 203227 0 0 0 300 0 7211 0 13638 0 224376 0 0 0 Ali Shaikholislami 164858 0 0 0 1588 0 8333 0 5805 0 180584 0 0 0 Alice Beamesderfer 146432 0 0 0 1406 0 7575 0 13425 0 168838 0 0 0 Robin E Proctor 137450 0 0 0 851 0 7158 0 13388 0 158847 0 0 0 Lesley Pratt 130932 0 0 0 417 0 6696 0 13329 0 151374 0 0 0 Philadelphia Authority for Industrial Development 222237287 7178182U1 2008-06-17 68560000 PAID Series 2008-Refinance debt & funding for expansion & renovation 0 0 0 68560000 58750000 599295 9210705 2009 1 0 1 1 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 0 0 0 X 767 X 123 3959176 Market Value 30 0 0 0 Form 990, Part VI, Section A, line 6 The Members of the Corporation consist of (i) the Elected Trustees, (ii) the Trustees Ex. Officio, (iii) the Honorary Trustees, and (iv) those persons who have contributed services, property or funds to the corporation in such minimum amount or value as the Board of Trustee may establish from time to time by resolution of the Board. The Elected Trustee shall be elected by the Members of the Corporation at the annual meeting of the Members of the Corporation. Form 990, Part VI, Section A, line 7a The Members of the Corporation consist of (i) the Elected Trustees, (ii) the Trustees Ex. Officio, (iii) the Honorary Trustees, and (iv) those persons who have contributed services, property or funds to the corporation in such minimum amount or value as the Board of Trustee may establish from time to time by resolution of the Board. The Elected Trustee shall be elected by the Members of the Corporation at the annual meeting of the Members of the Corporation. Form 990, Part VI, Section A, line 7b The Members of the Corporation consist of (i) the Elected Trustees, (ii) the Trustees Ex. Officio, (iii) the Honorary Trustees, and (iv) those persons who have contributed services, property or funds to the corporation in such minimum amount or value as the Board of Trustee may establish from time to time by resolution of the Board. The Elected Trustee shall be elected by the Members of the Corporation at the annual meeting of the Members of the Corporation. Form 990, Part VI, Section B, line 11 Form 990 is prepared by the Museum's Finance Department. The return is reviewed by management and outside independent tax advisors. The return is made available to all trustees for review prior to it being filed with Internal Revenue Service. Form 990, Part VI, Section B, line 12c The Museum's Conflict of Interest Policy is reviewed and updated periodically by The Museum's Board of Trustees. The Museum's Board of Trustees and Officers complete an Annual Related Party Questionnaire. The Museum's Conflict of Interest Policy requires, amoung other things, that trustees and officers disclose conflicts and potential conflicts and that interested parties not participate in any vote to consider a transaction that might constitute a conflict. Form 990, Part VI, Section B, line 15 The process the Museum uses to establish compensation for officers and key employees includes a complete review of executive compensation levels by the Museum's independent Compensation subcommittee. The review is based on a market analysis prepared by the Museum's Finance department under the direction and supervision of the Compensation subcommittee using published compensation surveys and available tax returns for Not-for-profit organizations comparable in scope and size to the Philadelphia Museum of Art. The Compensation subcommittee contemporaneously documents the results of the deliberations and decisions in the minutes. Form 990, Part VI, Section C, line 19 The Museum's Form 990 is posted annually on the website www.guidestar.org. The Museum also publishes an annual report, which includes the audited Statement of Financial Position, Statement of Activities and Statement of Cash Flows. Commencing in 2011, the Museum's Annual Report and Audited Financial Statements are posted on its website. The Museum's governing documents and conflict of interest policy are available upon request. Form 990,Part VII,Section A,Column(B)-Hours Worked for Related Organization Name and Title Hours worked for related organizations Robert T. Rambo, CFO 1 Alice Beamesderfer, Deputy Director for Collection 1 Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -15,044,894. Change in fair value of interest rate exchange agreement -3,765,494. Total to Form 990, Part XI, Line 5: -18,810,388. The Anne H & Frederick Vogel III Collection for Philadelphia Museum of Art PO Box 7646 Philadelphia PA 19101 364459089 Assembling a collection of American Furniture & Decorative Art for PMA. PA 501(c)3 509(a)(3) I N/A 0 Samuel S Fleisher Art Memorial PO Box 7646 Philadelphia PA 19101 232249360 Operate and maintain a school of art and museum. PA 501(c)3 9 N/A 0 Foundation for Self-Taught American Artists 30 South 17th Street 12th Floor Philadelphia PA 19103 202097461 Document the work of self-taught American artists PA 501(c)3 9 N/A 0 Charitable Remainder Trusts - PA (4) CHARITABLE TRUST PA N/A T Charitable Remainder Trusts - NC (3) CHARITABLE TRUST NC N/A T Charitable Remainder Trusts - NY (1) CHARITABLE TRUST NY N/A T 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 Charitable Remainder Trusts - PA (2) A 93674 FMV Charitable Remainder Trusts - NC (3) A 37674 FMV Charitable Remainder Trusts - NY (2) A 16135 FMV