2012-10-22T13:22:50-05:00 2011-12-31 REZNICK GROUP PC 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 208146583 990 2011-01-01 540564701 the MOUNT VERNON LADIES' ASSOCIATION of the union % PHILIP MANNO MOUN 7037998699 PO BOX 110 MT VERNON VA 221210110 philip manno 2012-10-22 true ANNE SCHRANTZ CPA 3016529100 2011 2016-02-24 21:20:13Z philip manno po box 110 mt vernon VA 22121 57890983 false X www.mountvernon.org X 1853 VA THE MISSION OF THE MOUNT VERNON LADIES' ASSOCIATION IS TO PRESERVE, RESTORE AND MANAGE THE ESTATE OF GEORGE WASHINGTON TO THE HIGHEST STANDARDS AND TO EDUCATE VISITORS AND PEOPLE THROUGHOUT THE WORLD. 27 27 621 380 324210 -19653 78151158 15346281 12238783 11762249 2987025 3918990 4294188 4025373 97671154 35052893 113775 136199 0 0 12669967 13735006 206251 237000 2677151 14561085 16677541 27551078 30785746 70120076 4267147 281438898 277218661 23101444 27353506 258337454 249865155 THE MISSION OF THE MOUNT VERNON LADIES' ASSOCIATION IS TO PRESERVE, RESTORE AND MANAGE THE ESTATE OF GEORGE WASHINGTON TO THE HIGHEST STANDARDS AND TO EDUCATE VISITORS AND PEOPLE THROUGHOUT THE WORLD ABOUT THE LIFE AND LEGACIES OF GEORGE WASHINGTON, SO THAT HIS EXAMPLE OF CHARACTER AND LEADERSHIP WILL CONTINUE TO INFORM AND INSPIRE FUTURE GENERATIONS. false false 25392137 13958848 George Washington's Mount Vernon welcomed 1,058,000 visitors to the Estate in 2011. Students totaling 303,000 visited from all 50 of the United States and around the world. We remained the most popular historic estate in America. Our Interpretation staff continued to expand the education experience at Mount Vernon with new and exciting programs for visitors of all ages. We broke ground on the Fred W. Smith National Library for the Study of George Washington. Throughout the year, we focused a great deal of our time on the permitting and construction of this new facility. By year-end, the foundation of the Library was in place. We took a number of steps to prepare ourselves for a major transition when the library opens in 2013. We announced the recreation of George Washington's personal library, which included some 1,200 titles that range from poetry to a complete book on peat moss. Although many of his original volumes will be impossible to obtain because they are in other museum collections, we will opt for the next best thing, which is an identical book from the same printed edition. During 2011 alone, we were able to find and purchase nearly 60 volumes, making great strides toward our goal. We received gifts and loans to the collections, including more than 156 George Washington-related prints, photographs, paintings, and broadsides. In 2011, the Campaign for the Library continued and at year-end $82 million had been raised towards our $100 million goal to build and endow the operations of the Library. We introduced an online catalog of our historic collections in order to provide electronic access to not only our books and papers, but to our decorative and fine arts collections and archaeological finds. We established a new feature on our website called Ask Mount Vernon, which has garnered thousands of questions of all varieties. Mount Vernon staff members with the greatest expertise in a particular field answer each individual question. We expanded our relationships with several universities as we prepared to host more conferences, events and scholarship related to George Washington's impact on the founding era. In May 2011, we co-sponsored a conference with the University of California, Washington Center (UCDC) and the United States Commission on the Fine Arts of Washington D.C. In addition, we hosted an event for the new president of Washington College and its entire freshman class where they recited together the honor code on Washington's original estate. Our on-site Teachers' Institute program hosted over 80 teachers from around the country for week long seminars and training sessions centered around teaching George Washington to elementary, middle school and high schools students. Our traveling exhibit, Discover the Real George Washington: New Views from Mount Vernon visited four cities during 2011: Raleigh, North Carolina; Minneapolis, Minnesota; Philadelphia, Pennsylvania and Fort Worth, Texas. The traveling exhibit allows us to reach thousands of individuals who may not have the opportunity to visit Mount Vernon. We published a coffee table book, Dining with the Washingtons, featuring interesting articles by Mount Vernon staff members and recipes of dishes served at Mount Vernon. 2011 preservation projects included completion of a 720-foot portion of the brick perimeter wall, to replace a similar wall that had collapsed quite suddenly in 2010. The original wall had been standing for nearly 100 years. We erected a new roof on the salt house and replaced portions of the lower garden brick wall and fence. Without closing the Mansion for a single day, we completely re-rusticated the entire exterior surface of the mansion, based on new research conducted by our preservation professionals. Our most important preservation project was the complete restoration of the upper garden, which has always been near and dear to the hearts of our visitors. Over a period of some four years, we conducted thorough research of the historical records, in addition to directing extensive archaeological digs. How much the garden has changed in the 212 years since George Washington died! Many of the beds and borders needed to be revised substantially to fit Washington's original requirements. This unique design allowed him to plant vegetables, carefully hidden in the center of the rectangular beds. We hosted a number of popular public events on the estate. Programs like Christmas at Mount Vernon, the Wine Festival & Sunset Tour, the Red, White and Blue Celebration on the Fourth of July, and the Colonial Market & Fair offered ways of experiencing Mount Vernon from different points of view. New this year was a special guided Civil War tour. We celebrated the 230th anniversary of Generals Rochambeau and Washington visiting Mount Vernon on the way to the Battle of Yorktown with a public reenactment. It is very likely that these great military leaders planned the war-winning battle on a table in the large dining room of the Mansion. We purchased a private parcel of land in Charles County, Maryland in order to prevent it from being developed. Located on a strategic hillside that blocks hundreds of brightly colored townhouses, the 65-acre property was deemed too risky to stay on the market. For more than 50 years, Mount Vernon has been actively working with conservation groups throughout Maryland to safeguard and protect Washington's pristine view across the Potomac River. 25392137 true true false false false false true false true true false false false true true true false false false false false false true true false false true false true true false false false false false false false false false false true true false false false false false false false false true 89 0 true 621 true true true false false false true true true true false false false false X 27 27 false false false false false false false true true false false true true true true true true true true false AL AK AZ AR CA CO CT FL GA HI IL KS KY ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X X PHILIP MANNO 7037998699 PO BOX 110 MT VERNON VA 22121 MRS JAMES ALLISON 10.0 X X 0 0 0 MRS SHEPARD B ANSLEY 10.0 X 0 MRS JOHN F BOOKOUT III 10.0 X X 0 MRS WILLIAM H BORTHWICK 10.0 X X 0 MRS JAMES CRUMPACKER 10.0 X 0 MRS WILLIAM LIPSCOMB DAVIS JR 10.0 X MRS JARED EDWARDS 10.0 X MRS STANLEY N GAINES 10.0 X MRS JOSEPH W HENDERSON III 10.0 X MRS FRANK X HENKE III 10.0 X MRS DAVID GARTH HOLDSWORTH 10.0 X MRS CHARLES G LANE 10.0 X MRS BENJAMIN LUCAS 10.0 X MRS JOHN F MARS 10.0 X MRS CHARLES B MAYER 10.0 X MRS P WILLIAM MOORE 10.0 X MS MELODY SAWYER RICHARDSON 10.0 X MRS J SCHLEY RUTHERFORD 10.0 X MRS EVERETTE SHERRILL 10.0 X MRS P COLEMAN TOWNSEND 10.0 X MRS APLHA BLACKBURN 10.0 X MRS FRANK MAURAN iv 10.0 X MRS THOMAS e PETRI 10.0 X MRS FRANK L COULSON JR 10.0 X MRS CHARLES G REEDER 10.0 X MRS KENAN SAHIN 10.0 X MRS HUGH SCOTT III 10.0 X JAMES REES 40.0 X 306891 48709 philip manno 40.0 X 175000 3887 BARTON GROH 40.0 X 209625 28411 carol cadou 40.0 X 122500 10321 MEGAN DUNN 40.0 X 109510 17804 WILLIAM ROBERTSON 40.0 X 109876 6551 F Anderson Morse 40.0 X 125857 20963 susan magill 40.0 X 207885 11245 1367144 0 147891 8 false true false AYERSSAINTGROSS INC 1040 HULL STREET SUITE 100 BALITMORE MD 21230 ARCHITECT 1038953 WHITING TURNER CONTRACTING CO PO BOX 17596 BALTIMORE MD 21297 CONSTRUCTION SERVICE 1013872 ELY INC 4110 FORESTVILLE RD FORESTVILLE MD 20747 INSTALLATION & MAINT 519106 CONSTRUCTION TRADE SERVICES INC 603 EAST CHURCH ST FREDERICK MD 21701 GENERAL CONTRACTOR 418585 EO BLANKENSHIP SONS LLC 9413 CORAL LANE ALEXANDRIA VA 22309 CONSTRUCTION SERVICE 284377 22 15346281 1044559 15346281 ADMISSION FEES 900099 11762249 11762249 11762249 1111049 1111049 0 295328 295328 14224994 11417053 2807941 2807941 2807941 640482 139976 500506 500506 0 13801870 11281061 2520809 2196599 324210 OTHER REVENUE 708730 708730 708730 35052893 13958848 324210 5423554 136199 136199 0 0 0 675016 471168 203848 0 9841869 7973672 1137007 731190 902839 732138 127634 43067 1197074 799079 256461 141534 1118208 950477 111821 55910 0 78863 42523 36340 93300 93300 0 237000 237000 0 0 778324 602093 176231 898028 805383 86655 5990 0 0 0 249005 227980 10975 10050 0 55277 48538 3890 2849 641974 641974 0 5815637 5815637 0 CONTRACT & PROF. SVCS 3419274 2428633 166415 824226 COLLECTION & LIBRARY ACQ. 378862 378862 PROFESSIONAL FEES 921551 878995 39926 2630 PRINTING 551294 462249 432 88613 2796152 1996537 441754 357861 30785746 25392137 2716458 2677151 X 31497 28154 19250618 15279610 65584833 60508510 724187 999617 0 0 0 0 0 0 3847191 3957221 1084157 1276313 115140727 49690588 69035600 65450139 111192643 115688194 6180174 6570352 0 0 0 0 4507998 7460551 281438898 277218661 3690719 4486066 0 0 655507 649259 15000000 15000000 0 0 0 0 0 0 0 0 3755218 7218181 23101444 27353506 X 118839190 107030494 116962619 118231064 22535645 24603597 258337454 249865155 281438898 277218661 X 4267147 -12739446 X false true true X false X X false false false 11622654 13504952 8410836 78151158 15346281 127035881 24744479 25594475 27370219 26374229 25564119 129647521 36367133 39099427 35781055 104525387 40910400 256683402 1081240 773794 790000 12901078 2015477 17561589 1081240 773794 790000 12901078 2015477 17561589 239121813 4730457 3891626 2264494 2236085 1406377 14529039 4730457 3891626 2264494 2236085 1406377 14529039 41097590 42991053 38045549 106761472 42316777 271212441 0.88168 0.90255 0.05357 0.08934 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 131023770 13002453 -4798880 4179331 135048012 85199712 39819617 8295058 2290617 131023770 76929789 1650414 9850876 3231367 85199712 105658851 4601704 -29080965 4249801 76929789 0.27630 0.46750 0.25620 false false 67405371 38481089 28924282 39784829 6973735 32811094 7950527 4235764 3714763 65450139 0 GIFT ANNUITY 859795 INTEREST RATE SWAP AGREEMENT 6358386 7218181 35052893 30785746 4267147 -9428741 -3310705 -12739446 -8472299 33734484 -9428741 11421037 1992296 31742188 3310705 3310705 35052893 42206783 11421037 11421037 30785746 30785746 COLLECTIONS AND RELATIONSHIP TO EXEMPT PURPOSE schedule D - PART III, LINE 4 The Mount Vernon Ladies' Association (MVLA) collects, researches, conserves, preserves, and shares with the public two- and three-dimensional objects in a variety of media. Responsibility for the collections falls to the Collections Department, which is divided into the Fine and Decorative Arts Curatorial Collection, Special Collections, the Library, and Photo Archives. The Fine and Decorative Arts Curatorial Collection includes three-dimensional objects, textiles, works of art on paper, and paintings. Special Collections includes rare books, historic manuscripts, photographs, MVLA archival materials, and printed ephemera. The Library collects printed material with a primary emphasis on George Washington, Mount Vernon, and the Mount Vernon Ladies' Association. Photo Archives contains modern film, negatives, and digital image files of a variety of Mount Vernon related subjects. The most important initial criterion with which to evaluate a potential acquisition is its contribution to interpretation, exhibition, and research value at Mount Vernon. This includes the following items: -Objects original to Mount Vernon or owned by George and Martha Washington. -Objects related to Washington's non-domestic life, including his role as military leader, surveyor, and president. -Manuscripts by George or Martha Washington not previously reproduced or published in print or electronic format. Books and other published materials owned by George or Martha Washington. -Objects relating to the development and domestic life of Mount Vernon, including material related to family members, visitors, and acquaintances. -Period objects that replicate objects that were at Mount Vernon, for the purpose of enhancing the interpretation and understanding of the estate and the life and legacy of George and Martha Washington. -Archival materials relating to the development and domestic life of Mount Vernon, including materials of family members, visitors, and acquaintances. Books of the Washington and Custis families that are related to collections or interpretation goals. -Manuscripts by George or Martha Washington previously reproduced or published in print or electronic format. -Maps, plans, surveys, manuscripts, rare books, photographs and other documents of historical value relating to 17th, 18th 19th and 20th century life at Mount Vernon and the Washington family. LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 PART X The Association is exempt from federal income taxes under the provision of Section 501(c)(3) of the Internal Revenue Code (IRC). The Association is subject to income taxes on revenue generated from other sources unrelated to its exempt purpose. The Association is required to file and does file tax returns with the IRS and other taxing authorities. During 2010, the Association elected to implement the provision of ASC 740, Income Taxes (formerly, Financial Accounting Standards Board (FASB) Interpretation No. 48, Accounting for Uncertainty in Income Taxes). During the years ended 2011 and 2010, the Association did not identify any uncertain tax positions that qualify for either recognition or disclosure in the financial statements. COLLECTIONS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS PART III, LINE 1A Historical Properties Historical properties owned by the Association were acquired through contributions since the Association's inception. These historical properties are not included as assets in the balance sheet. The cost of these properties is not readily available, and the Association is of the opinion that, because of the intrinsic value of the properties, it is impractical to assign values to the components. 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 net assets if the assets used to purchase the items are restricted by donors. Financial statements do not reflect any contributed collection items. RECONCILIATION OF AUDITED FINANCIAL STATEMENTS WITH RETURN PART XII, LINE 2D; PART XIII, LINE 2D COST OF GOODS SOLD 11,421,037 RECONCILIATION OF AUDITED FINANCIAL PART XII LINE 4D AND PART XI LINE 8 CHANGE IN VALUE OF DERIVATIVE (3,310,705) X X X X X X true creative direct response fundraisin direct mail false 1978839 1258287 720552 magnet direct direct mail false 101050 1978839 1359337 720552 DISCUS 259785 259785 41850 LIFE GUARD EVEN 157251 157251 17950 1115 3994 3 223446 223446 2271 2205 43130 7430 20031 640482 640482 2271 2205 61080 8545 65875 139976 500506 professional fundraising services schedule G - part I item 2b2 magnet direct is newly retained. the inital payments for services were made to Magnet direct in december of 2011 - the itemized payments were $10,000 in fees and $91,050 for direct mailing campaign completed in january of 2012 - therefore no gross receipts will be received until 2012. true ACCOKEEK FOUNDATION 3400 BRYAN POINT ACCOKEEK MD 20607 526037288 501(C)(3) 30000 VIEWSHED PRESERVATION THE PAPERS OF GEORGE WASHINGTON CO UVA 504 ALDERMAN LIBRARY CHARLOTTESVILLE VA 22904 546001796 501(C)(3) 25000 HISTORICAL SCHOLARSHIP GEO MASON UNIVERSITY FOUNDATION 5105 UNIVERSITY HALL FAIRFAX VA 22030 541603842 501(C)(3) 15045 DOCTORAL RESEARCH MINNESOTA HISTORY CENTER 345 KELLOGG BLVD WEST ST PAUL MN 55102 410713907 501(C)(3) 17345 SUPPORT SCHOOL VISIT NATIONAL CONSTITUTION CENTER 525 ARCH STREET PHILADELPHIA PA 19106 232434447 501(C)(3) 17739 SUPPORT SCHOOL VISIT FORT WORTH MUSEUM OF SCIENCE 1600 GENDY STREET FT WORTH TX 76107 750755335 501(C)(3) 31070 SUPPORT SCHOOL VISIT 6 0 X X true true X X X X X X false true false false false false false false false BARTON GROH 209625 0 0 16610 11801 238036 0 JAMES REES 290391 16500 44690 4019 355600 0 susan magill 207885 0 0 10395 850 219130 0 philip manno 175000 0 0 3366 521 178887 0 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4a and 4b JAMES REES, president - $16,500 CONTRIBUTION TO 457(B) PLAN and $25,000 CONTRIBUTION TO 457(F) WITH PRINCIPAL FINANCIAL. FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY 911910090 30382EDU5 2007-06-20 15000000 REFINANCE EXISTING BONDS, FINANCE false false 15000000 0 0 0 0 0 128967 0 0 14871033 0 0 2009 true false true true false false false false 0 true false true true SUNTRUST 30. false false false 0 false false X 5000 cost to purchase X 20 1004631 cost to purchase X 1 8459 cost to purchase X livestock feed 1 15344 cost to purchase X landscaping products 1 11125 cost to purchase false true false governance PART VI, section b, LINE 11 The process surrounding the preparation of this Form 990, Return of Organization Exempt From Income Tax, contained three levels of review. A draft of the return was prepared by our tax advisors, Reznick Group, based on financial information in our certified audit, organizational information documented from the audit, preparation of required schedules by the Finance Department, and answers to checklist questions. The draft was first reviewed by the Chief Financial Officer and Controller for accuracy of the financial information and complete disclosures. Copies of the draft return were then provided to the president, outside legal counsel, the regent and Chairs of the Finance and Audit Committees. A conference call was held with the regent, chairs of the finance and audit committees and the president, chief financial officer and controller, along with our tax advisors to explain the return and the relevance to non-profit governance, and discuss the importance of the underlying disclosures to potential donors. In addition, a final draft copy of the return was provided to all Board members for any additional comments or questions before filing. governance PART VI, section b, LINE 12 The Association's Conflict of Interest policy requires the annual completion of a Conflict of Interest form by all Board members, advisory committee members, officers and key employees. The form was prepared by outside counsel and asks for documentation of potential conflicts of interest in the following areas: - financial interests - gifts or entertainment that might influence decision making - any other activities The forms are reviewed by the Chief Financial Officer and are discussed with outside counsel and the Executive Committee of the Board, if appropriate. The president reviews the completed form of the CFO, and takes any appropriate action. governance PART VI, section b, question 15 In early 2011, the Board authorized the re-engagement of Quatt Associates, an outside compensation consultant, to do a comparative review of the compensation of our executives and approximately 40 other staff positions, mostly management. Quatt provided us with benchmark compensation data in comparison to our peer groups (museums and historic houses, etc.), the Northern Virginia (suburb of Washington, DC) non-profit job market and the Washington, DC museum market. Results of this study and subsequent discussions with Quatt in 2011 were used as the basis for reevaluating our job grades and compensation structure and will be used in the future in on-going compensation decisions. The Board plans to conduct these types of compensation studies on a periodic basis, as appropriate, with the next study scheduled for early 2014. governance PART VI, section c, LINE 19 The Association's Articles of Incorporation are available to the public through the State of Virginia State Corporation Commission. The bylaws and the conflicts of interest policy, which requires annual disclosure of conflicting interests by directors and officers, are not made available to the public. Financial statements are posted on our website and are included in the Association's Annual Report, which is distributed to the donor population and is also available upon specific request. In addition, a summary of the Association's financial information is posted on Guidestar (www.guidestar.org). balance sheet form 990 line 11 Historical properties and collections historical properties and collections owned by the association were aquired through purchases and contributions since the association's inception. these historical properties and collections are not included as assets in the statement of financial position. the cost of the properties is not readily available, and the association is of the opinion that, because of the intrinsic value of the properties, it is impractical to assign values to the components. puchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are aquired or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. financial statements do not reflect any contributed collection items. reconciliation of net assets form 990 part xi line 5 Net Unrealized losses - (9,428,741) Change in value of derivative (3,310,705) Total (12,739,446)