2012-05-15T12:50:23-07:00 2011-06-30 990 2010-07-01 131624100 MUSEUM OF MODERN ART MUSE 2127089801 11 West 53rd Street New York NY 10019 James Gara 2127089793 2012-05-15 2010 2016-02-24 21:20:13Z Marie-Josee Kravis 11 West 53rd Street New York NY 10019 467597320 0 X www.moma.org X 1929 NY The Museum of Modern Art establishes, preserves, and documents a permanent collection of modern and contemporary art, presents exhibitions and educational programs, sustains a library, archives, and conservation laboratory and supports scholarship and publications. 44 42 1145 367 1602121 552 67963087 91348611 28045516 27921807 39245708 56094041 31135270 30222548 166389581 205587007 761031 821796 0 0 70577895 74777854 0 0 12977983 122034451 155786983 193373377 231386633 -26983796 -25799626 1449468603 1528295416 453862811 470991568 995605792 1057303848 X The Museum of Modern Art establishes, preserves, and documents a permanent collection of modern and contemporary art, presents exhibitions and educational programs, sustains a library, archives, and conservation laboratory and supports scholarship and publications. 0 0 57966767 821796 25937524 Curatorial and curatorial support departments include conservation, education, exhibition costs, publications, library and archive. The Museum served approximately 2.8 million visitors during FY2011 and had approximately 128,000 members at June 30, 2011. Fiscal year 2011 was an exceptional year at the Museum. Exhibition highlights include The Original Copy: Photography of Sculpture, 1839 to Today (8/1/10-11/1/10), which The New Yorker named the top New York photography show of the year; and Small Scale, Big Change: New Architectures of Social Engagement (10/3/10-1/3/11), featured in Artforum's "Best of 2010" issue. MoMA's Department of Conservation is highly involved in exhibition preparations and treated several major sculptures that were on view in Picasso: Guitars 1912-1914 (2/13/11-6/6/11). Conservators have also contributed research to the forthcoming Picasso e-book (summer 2012). In addition to e-publications, MoMA is exploring other new ways to expand access to the Museum's collection and resources, such as the recently launched MoMA iPhone application, the MoMA and MoMA PS1 online blog INSIDE/OUT (MoMA.org/explore/ inside_out/), and participation in Google's Art Project (googleartproject.com). The Department of Education provides opportunities for further engagement and learning through innovative programs that serve a wide and diverse audience. For example, Material Lab (open through August 2012) has allowed thousands of young visitors and their families to gain a new perspective on MoMA's collection by being able to touch, assemble, and create with a multitude of materials and painting techniques. For a full schedule of current programs, please visit MoMA.org. 50936275 0 18282659 Acquisition of Art - In fiscal year 2011, the Museum acquired 1,300 works that strengthen the collection. Highlights include twenty-three digital typefaces for the Architecture and Design collection; and two landmark Cy Twombly paintings, Tiznit (1953) and Academy (1955), and seven Twombly sculptures that range in date from 1954 to 2005. Other acquisitions include a major group of works from the collection of exhibition organizer, publisher, and dealer Seth Siegelaub; and the Daled Collection of over 200 works across all mediums, assembled between 1966 and 1978 by Brussels-based collectors Herman J. Daled and Nicole Daled-Verstraeten. As important counterparts to these collections, the Museum has also acquired the archives of Siegelaub and Daled and Daled-Verstraeten. With these two acquisitions, MoMA has established itself as one of the preeminent centers of Conceptual art. In keeping with the Museum's mission, these new acquisitions reinforce MoMA's commitment to establishing a collection of the highest order that reflects the vitality, complexity, and unfolding patterns of modern and contemporary art. 28338507 0 12680210 Security operation and maintenance of exhibition galleries and art collection. See Schedule O for more information. 38954622 0 17430445 Other program services - See schedule O for more information 38954622 0 17430445 176196171 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 0 0 1 0 0 1 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 0 0 1 552 0 1 1145 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 44 42 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR AZ CA CT FL GA HI IL KS KY MA MD ME MI MN MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X X John C Bailey - Controller 2127089801 11 West 53rd Street New York NY 10019 David Rockefeller 1 X X 0 0 0 Ronald S Lauder 1 X X 0 0 0 Robert B Menschel 1 X X 0 0 0 Agnes Gund 1 X X 0 0 0 Donald B Marron 1 X X 0 0 0 Jerry I Speyer 5 X X 0 0 0 Marie-Josee Kravis 5 X X 0 0 0 Sid R Bass 1 X X 0 0 0 Leon D Black 1 X X 0 0 0 Mimi Haas 1 X X 0 0 0 Richard E Salomon 1 X X 0 0 0 Wallis Annenberg 0.5 X 0 0 0 Clarissa Alcock Bronfman 0.5 X 0 0 0 Lawrence B Benenson 1 X 0 0 0 Donald L Bryant Jr 1 X 0 0 0 Patricia Phelps de Cisneros 1 X 0 0 0 Paula Crown 1 X 0 0 0 Joel S Ehrenkranz 1 X 0 0 0 John Elkann 1 X 0 0 0 Laurence D Fink 1 X 0 0 0 David Dechman as of 12-7-2010 1 X 0 0 0 Glenn Dubin as of 4-5-2011 1 X 0 0 0 Kathleen Fuld 1 X 0 0 0 Howard Gardner 1 X 0 0 0 Vartan Gregorian 1 X 0 0 0 Anne Dias Griffin as of 2-9-2011 1 X 0 0 0 Alexandra A Herzan 1 X 0 0 0 Marlene Hess 1 X 0 0 0 Jill Kraus 1 X 0 0 0 Thomas Lee 1 X 0 0 0 Michael Lynne 1 X 0 0 0 Harvey S Shipley Miller thru 3-2011 1 X 0 0 0 Philip S Niarchos 0.5 X 0 0 0 James G Niven 1 X 0 0 0 Peter Norton 1 X 0 0 0 Maja Oeri 1 X 0 0 0 Michael S Ovitz 1 X 0 0 0 Richard D Parsons 1 X 0 0 0 Emily Rauh Pulitzer 1 X 0 0 0 David Rockefeller JR 1 X 0 0 0 Sharon Percy Rockefeller 1 X 0 0 0 Anna Marie Shapiro 1 X 0 0 0 Anna Deavere Smith 1 X 0 0 0 Ricardo Steinbruch as of 12-7-2010 1 X 0 0 0 Edgar Wachenheim III 1 X 0 0 0 Thomas W Weisel 1 X 0 0 0 Gary Winnick 1 X 0 0 0 Celeste G Bartos 0.5 X 0 0 0 Eli Broad 1 X 0 0 0 Thomas S Carroll 0.5 X 0 0 0 Douglas S Cramer 1 X 0 0 0 Gianluigi Gabetti 0.5 X 0 0 0 Barbara Jakobson 1 X 0 0 0 Werner H Kramarsky 1 X 0 0 0 June Noble Larkin 1 X 0 0 0 Peter G Peterson 0.5 X 0 0 0 Gifford Phillips 1 X 0 0 0 Joanne M Stern thru 11-8-2011 1 X 0 0 0 Beth Strauss thru 12-8-2010 1 X 0 0 0 Jeanne C Thayer 0.5 X 0 0 0 Joan Tisch 0.5 X 0 0 0 Glenn D Lowry 40 X 953907 0 601925 James Gara 40 X 498106 0 402551 Patty Lipshutz 40 X 328472 0 83651 Michael Margitich 40 X 466941 0 423947 Frank Ahimaz 40 X 501872 0 181500 Kathy Halbreich 40 X 387075 0 82272 Peter Reed 40 X 284633 0 78575 Peter Galassi 40 X 249028 0 95382 Jan Postma 40 X 265507 0 42747 Ramona Bannayan 40 X 194725 0 86022 Ann Temkin 40 X 204739 0 66572 Tunji Adeniji 40 X 207910 0 46729 Barry Bergdoll 40 X 190837 0 51159 Cornelia Butler 40 X 195853 0 36089 Rajendra Roy 40 X 188945 0 42047 Christophe Cherix 40 X 152503 0 44539 Sabine Breitwieser as of 10-4-2010 40 X 114448 0 24324 Deborah Wye thru 11-30-10 40 X X 231311 0 50678 Jennifer Russell thru 4-16-10 40 X X 113961 0 456 Klaus Biesenbach 40 X X 15540 214353 699 Kenneth Percy thru 11-10-2010 40 X X 274907 0 49470 Kathy Thornton-Bias 40 X 456863 0 49881 Steve Peltzman 40 X 281663 0 53629 Christopher Hudson 40 X 267497 0 88382 Patricia Jeffers 40 X 237945 0 58155 Lisa Mantone Vilardi 40 X 224375 0 65577 7489563 214353 2806958 98 1 1 0 Bluewater Communication Group LLC 110 Parkway Drive South Hauppauge NY 11788 Information Technology 481773 Proskaur Rose LLP Eleven Time Square New York NY 10036 Legal Services 345800 Morrison and Foerster LLP 1290 Avenue of Americas New York NY 10104 Legal 305898 PricewaterhouseCoopers LLP 300 Madison Avenue New York NY 10017 Audit Fees 302298 Shulte Roth & Zabel LLP 919 Third Avenue New York NY 10022 Legal Services 198211 9 0 3340906 3074020 0 639525 84294160 2864119 91348611 Admissions 712100 22694529 22694529 0 0 Exhibition Tour Income 712100 3534500 3534500 0 0 Other Museum Programs 712100 1692778 1692778 0 0 0 0 0 0 27921807 15473512 0 0 15473512 0 0 0 0 0 0 0 0 1602636 0 238540 0 1364096 0 1364096 0 0 1364096 258272000 18282659 235934130 0 22337870 18282659 40620529 18282659 -365032 22702902 1025505 3074020 1753177 -727672 0 -727672 0 0 0 0 0 0 49856137 24084466 25771671 25438753 332918 0 Museum Restaurant 722100 1000589 0 0 1000589 Corporate Events 900099 2813864 1179629 1634235 0 0 0 0 0 3814453 205587007 72822848 1602121 39813427 821796 821796 0 0 0 0 0 0 6452691 2542244 3199887 710560 0 0 0 0 48214866 37410410 7266424 3538032 7083231 5176633 1356111 550487 9179169 6708406 1757387 713376 3847897 3061826 523407 262664 0 0 0 0 964943 92888 872055 0 300464 0 300464 0 78500 0 78500 0 0 0 5444809 0 5444809 0 11365823 7322071 1739374 2304378 6191650 4216978 0 1974672 12023928 9678026 1685678 660224 938602 111081 827521 48255 48255 0 0 13869939 6993913 5994912 881114 2542794 2245444 264656 32694 0 0 0 0 0 0 0 0 14078875 10739335 2559215 780325 0 0 0 0 27103258 19613157 7301976 188125 1794788 1731444 42229 21115 Acquisitions of Works of Art 50936275 50936275 0 0 Membership Dues and Subscriptions 279170 152585 119587 6998 Administrative and Other Expenses 7824910 6593404 878287 353219 0 0 0 0 231386633 176196171 42212479 12977983 659359 345955 51169000 32107126 161978000 170526000 2004000 1541000 0 0 0 0 0 0 9932000 8738000 11212000 12665000 729592272 214647113 533080244 514945159 328298000 401824000 314243000 346224000 36893000 39379176 1449468603 1528295416 36593474 65035016 37751000 38528000 299536000 298252000 3612164 4219766 33000000 33000000 43370173 31956786 453862811 470991568 X 665733792 656351848 107946000 163339000 221926000 237613000 995605792 1057303848 1449468603 1528295416 X -25799626 87497682 X 0 1 1 X 0 X 89052665 97335481 62933969 67986812 91348611 408657538 0 0 0 0 0 0 0 0 0 0 0 0 89052665 97335481 62933969 67986812 91348611 408657538 49304786 359352752 13132245 14566283 8903526 13664078 17076148 67342280 1253962 893710 307814 0 99745 2555231 3771107 3766071 2668570 4654878 4839958 19700584 498255633 406954425 0.72122 0.69884 X Other income includes fundraising revenue, corporate events and ancillary revenue from the restaurant operations. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 78500 78500 256982741 257061241 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 15000 44000 42000 78500 179500 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X X X 0 356715000 48006000 23497000 0 -1774000 0 429992000 324195000 34778000 16174000 0 18432000 0 356715000 384845000 28593000 -42626000 0 46617000 0 324195000 0.06 0.56 0.38 0 0 0 91352000 91352000 0 532703272 148901113 383802159 0 4295000 4075000 220000 0 70814000 61671000 9143000 0 30428000 0 30428000 514945159 Multi-strategy & Other 118801000 F Private Equity 108727000 F Credit 59645000 F Equity Long/Short 38516000 F Real Assets 20535000 F 346224000 Accrued investment and other receivable 3734176 Trust for Cultural Resources Receivable 35645000 39379176 0 Pension and postretirement obligation 27943786 Investments held on behalf of others 4013000 31956786 205587007 231386633 -25799626 75824032 0 0 0 11502647 87326679 61527053 291085659 75824032 0 0 0 75824032 215261627 6932809 -16607429 -9674620 205587007 229560683 0 0 0 -10497647 -10497647 240058330 6932809 -15604506 -8671697 231386633 SchD_P03_S00_L01 Schedule D, Part III, Line 1 The Museum's collections, acquired through purchase and contributions, are not recognized as assets on the consolidated statements of financial position. Purchases of collection items are recorded in the year in which the items were acquired as decreases in unrestricted net assets. Contributed collection items are not reflected in the consolidated financial statements. Proceeds from deaccessions, which are reflected as increases in temporarily restricted net assets, are used exclusively to acquire other items for the collection. SchD_P03_S00_L04 Schedule D, Part III, Line 4 The Museum is chartered as an educational institution whose collection of modern and contemporary art is made available to its members and the public to encourage an ever-deeper understanding and enjoyment of such art by the diverse local, national, and international audiences that it serves. In pursuit of this goal, the Museum has collected over 150,000 works of painting, sculpture, drawing, printmaking, photography, film, performance, media, architecture, and industrial and graphic design. Through the leadership of its Board of Trustees and staff, the Museum strives to establish, reserve, and document a permanent collection of the highest order that reflects the vitality, complexity and unfolding patterns of modern and contemporary art; present exhibitions and educational programs of unparalleled significance; sustain a library, archives and conservation laboratory that are recognized as international centers of research; and support scholarship and publications of preeminent intellectual merit. SchD_P05_S00_L04 Schedule D, Part V, Line 4 The Museum's endowment funds consist of approximately 150 individual funds established for a variety of purposes, including art acquisitions, exhibitions, publications, educational and operating support. Its endowment includes both donor restricted endowment funds and funds designated by the Board to function as endowments. As required by Generally Accepted Accounting Principles, net assets associated with endowments funds, including funds designated by the board to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. The long term focus of the Museum's investment portfolio is to support the Museum's mission by providing a reliable source of funds for current and future use. SchD_P10_S00_L00 Schedule D, Part X In fiscal year 2008, the Museum adopted Financial Accounting Standards Board FASB Interpretation No. 48 "accounting for Uncertainty in Income Taxes" and interpretation of FASB Statement No. 109 ("FIN 48"). FIN 48 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of the tax position taken or expected to be taken in a tax return and provides guidance related to classification and disclosure matters. The impact of FIN 48 was not material in 2011 or 2010. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Primarily defined benefit plan changes other than net periodic benefit cost $12,116,592, change in swap valuation ($442,945) and related organizations which file a separate return ($171,000) SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Consists of costs of goods sold on retail operations ($24,084,466), amounts related to special events and exhibitions $4,962,038, interest income related to development rights $3,520,000, and related organizations that file separately ($1,005,000) SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Primarily defined benefit plan changes other than net periodic benefit costs $12,116,592, changes in valuation of interest rate swap ($442,945), and related organizations which file a separate return ($1,176,000) SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Primarily costs of goods sold on retail operations ($24,084,466) and other amounts related to special events and exhibitions $4,962,038 and interest income related to development rights $3,520,000. Central America and the Caribbean 0 0 Investments 103053438 Europe (including Iceland and Greenland) 0 0 Investments 16157531 North America (including Canada and Mexico, but not the United States) 0 0 Investments 5828732 0 0 125039701 1 0 1 1 1 0 Party in the Garden 1851650 1608210 243440 0 0 0 160442 0 841461 DR Luncheon 707500 670900 36600 0 0 0 24332 0 46504 4 1540375 794910 745465 0 0 0 145578 23390 511470 4099525 3074020 1025505 0 0 0 330352 23390 1399435 1753177 -727672 1 PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 501c(3) 821796 0 Operating support 1 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 The Museum as sole Member of PS1 Contemporary Art Museum (DBA MoMA PS1) monitors all aspects of the operations. In 2000 MoMA PS1 and the Museum entered into an affiliation to promote the study, knowledge, enjoyment and appreciation of modern and contemporary art through a collaborative program of exhibitions, research, special projects and other educational and curatorial activities. MoMA PS1 retained its separate corporate status and is a support corporation of the Museum with the Museum as its sole corporate member. The Museum has the right to appoint all members of the MoMA PS1 board of Directors. MoMA PS1 and the Museum entered into a management assistance and services agreement whereby the Museum provides management assistance and service to MoMA PS1 in certain areas, including accounting and payroll, fundraising and development, coordination of MoMA PS1's information technology, insurance and legal affairs. X X 1 1 X X X X X X 0 0 0 0 0 0 0 1 0 Glenn D Lowry 651523 0 295528 0 6856 0 247836 0 354089 0 1555832 0 0 0 James Gara 386766 0 100000 0 11340 0 364118 0 38433 0 900657 0 220461 0 Michael Margitich 386766 0 62500 0 17675 0 390900 0 33047 0 890888 0 62500 0 Frank Ahimaz 384246 0 117224 0 402 0 150000 0 31500 0 683372 0 117424 0 Kathy Halbreich 390971 0 0 0 -3896 0 44198 0 38074 0 469347 0 0 0 Patty Lipshutz 316269 0 0 0 12203 0 46218 0 37433 0 412123 0 0 0 Peter Reed 284955 0 0 0 -322 0 45528 0 33047 0 363208 0 0 0 Peter Galassi 252630 0 0 0 -3602 0 59449 0 35933 0 344410 0 0 0 Jan Postma 269415 0 0 0 -3908 0 7124 0 35623 0 308254 0 0 0 Ramona Bannayan 198225 0 0 0 -3500 0 50750 0 35272 0 280747 0 0 0 Ann Temkin 206923 0 0 0 -2184 0 32457 0 34115 0 271311 0 0 0 Tunji Adeniji 210230 0 0 0 -2320 0 12614 0 34115 0 254639 0 0 0 Barry Bergdoll 192712 0 0 0 -1875 0 17044 0 34115 0 241996 0 0 0 Cornelia Butler 200178 0 0 0 -4325 0 0 0 36089 0 231942 0 0 0 Rajendra Roy 190338 0 0 0 -1393 0 9000 0 33047 0 230992 0 0 0 Christophe Cherix 156120 0 0 0 -3617 0 9293 0 35246 0 197042 0 0 0 Sabine Breitwieser as of 10-4-2010 115000 0 0 0 -552 0 0 0 24324 0 138772 0 0 0 Kathy Thornton-Bias 310231 0 150000 0 -3368 0 14700 0 35181 0 506744 0 0 0 Steve Peltzman 287036 0 0 0 -5373 0 16472 0 37157 0 335292 0 0 0 Christopher Hudson 249632 0 0 0 17865 0 50987 0 37395 0 355879 0 0 0 Patricia Jeffers 238969 0 0 0 -1024 0 25108 0 33047 0 296100 0 0 0 Deborah Wye thru 11-30-10 224317 0 0 0 6994 0 34022 0 16656 0 281989 0 0 0 Lisa Mantone Vilardi 229414 0 0 0 -5039 0 28708 0 36869 0 289952 0 0 0 Jennifer Russell thru 4-16-10 109245 0 0 0 4716 0 0 0 456 0 114417 0 0 0 Klaus Biesenbach 15625 214142 0 0 -85 211 0 0 699 0 16239 214353 0 0 Kenneth Percy thru 11-10-2010 281098 0 0 0 -6191 0 29324 0 20146 0 324377 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a The Museum requires that the Director live in an apartment in Museum Tower as a condition of his employment and for the convenience of the Museum. Health club membership dues of the Director are paid for by the Museum and included in the Director's compensation. Any business class travel would be in accordance with the Museum's Travel and Expenditure guidelines which allow business class travel on flights longer than nine hours, approved by the President. SchJ_P01_S00_L07 Schedule J, Part I, Line 7 The Museum provides bonus and incentive compensation based on measured performance objectives described in schedule J, Part II note. SchJ_P02_S00_L00 Schedule J, Part II Glenn D Lowry - Director and Chief Executive Officer. Full-time employee, officer and ex-officio trustee. Included in bonus and incentive compensation for 2010 is an annual bonus of $295,528. The Director is eligible for a long term performance bonus related to accomplishments of certain performance objectives over the period 2009-2013. As a condition of employment and for the Museum's convenience, the Director is required to reside on the museum's premises. The estimate value of his housing, approximately $318,000 per annum, is included in column D. James Gara - Chief Operating Officer. Full-time employee and officer but not Trustee. Included in bonus and incentive compensation is a performance bonus plan. A portion of the multi-year bonus plan was paid in 2010 and is included in compensation. The plan was subject to the achievement of multi-year service and performance requirements. Michael Margitich - Senior Deputy Director - External Affairs. Full-time employee and officer but not Trustee. Included in bonus and incentive compensation is a performance bonus plan. A portion of the multi-year bonus plan was paid in 2010 and is included in compensation. The plan was subject to the achievement of multi-year service and performance requirements. Frank Ahimaz - Chief Investment Officer. Full-time employee but not Trustee. Eligible for annual bonus based on achievement of performance measures. Kathy Thornton-Bias - Retail. Full-time employee but not Trustee. Eligible for annual bonus based on achievement of performance measures. The Trust for Cultural Resources of the City of New York 911882413 649717PC3 2008-07-23 202520188 Refund Issuer's 2008 One A 1 0 0 The Trust for Cultural Resources of the City of New York 911882413 649717QL2 2010-07-29 64582831 Refund Issuer's 2010 One-A 0 0 0 64210000 0 202818514 0 0 0 1080188 0 0 0 201738255 0 2004 1 0 1 1 0 0 64593470 0 0 0 433259 0 0 0 64160211 0 2004 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 1 Top of the Rock LLC see comment 511007 see comment 0 SchL_P04_S00_L00 Schedule L, Part IV Schedule L, Part IV - The Museum has an agreement with Top of the Rock, LLC which provides for each of the Museum and Top of the Rock to sell "combo packages" of admission tickets at a discount, to each of the Museum and Top of the Rock. The Museum and Top of the Rock each remit funds to the other for admission tickets sold for entrance to the others venue. Two Trustees of the Museum, Jerry Speyer and Paula Crown, have direct or indirect financial interests in Top of the Rock. X 710 0 not applicable X 35 2864119 settlement 0 0 1 1 SchM_P01_S00_L00 Schedule M, Part I Nonmonetary contributions are recorded at estimated fair value at date of receipt if the Museum received certain goods and services that meet criteria under generally accepted accounting principles for recognition as contributions. Gifts of artwork are considered by individual item. Each separate gift of securities is treated as an item. SchM_P01_S00_L01 Schedule M, Part I, Line 1 Loans of art work to the Museum - From time to time Trustees of the Museum may loan artworks to the Museum for a limited duration of time for specific exhibitions. Gifts of art work are considered by individual item. SchM_P01_S00_L32b Schedule M, Part I, Line 32b A third party bank is authorized to sell donated securities as soon as possible upon confirmation by the Museum. SchM_P01_S00_L33 Schedule M, Part I, Line 33 In accordance with FASB Statement of Financial Accounting Standards 116, the Museum does not treat donations of art as revenue or record these art works on the Statement of Financial Position as these art works are used to support the Museum's educational mission. Proceeds from the deaccessions of artwork are used exclusively to acquire other items for the collection. F990_P03_S00_L00a Form 990, Part III (Cont. 1) The Museum of Modern Art is a private, nonprofit institution chartered by the State of New York in 1929 to foster public awareness of modern and contemporary art. In pursuit of this goal, the Museum has collected over 150,000 works of art, including works of paintings, sculpture, drawing, printmaking, photography, film, media, performance, architecture, and industrial and graphic design. The Museum also operates a publishing program, conducts an extensive educational program, and maintains a major library and archives. Its exhibitions are circulated nationally and internationally. The Museum's primary sources of support are admissions fees and membership dues, grants from individuals, foundations, and corporations, endowment income and revenue from retail operations. The Museum is managed by a Board of Trustees, consisting of 44 voting members. A Director and an administrative and curatorial staff oversee its operations and implement policy set by the board. Each year the Museum acquires through donation or purchase, in each of its curatorial departments, numerous works for its collection. Acknowledged worldwide for its collection of 20th and now 21st century art, the Museum has been instrumental in introducing the art of this period into the mainstream of modern life. The range of the museum's program of temporary exhibitions extends from retrospective studies of the work of major modern and contemporary artists to examinations design and production, film operations and preservation, imaging, outgoing loans, provenance, and registrar. In addition, the quality and depth of the Museum's collections enable the Museum to maintain an extensive loan program, which serves institutions both in the United States and abroad. Each year the Museum lends a number of works beyond those exhibited in its own galleries. The Museum was founded in 1929 as an educational institution and maintains a vast breadth of educational programming, which increased in the years after the opening of the renovated and expanded main facility in 2004. An estimated 4 million individuals participate in educational programs on and off site each year, and all the Museum visitors have access to the many forms of educational resources that complement the collection and exhibitions. These resources include information labels public tours and audio tours in seven languages as well as visual description tours for the blind and partially sighted. The Education Center provides a central location for a wide array of educational resources including three classrooms, a theater, a publicly accessible library, an archive reading room, and three curatorial study centers. Educational programs take place throughout the week. F990_P04_S00_L11f Form 990, Part IV, Line 11f In fiscal year 2008, the Museum adopted Financial Accounting Standards Board FASB Interpretation No. 48 "accounting for Uncertainty in Income Taxes" and interpretation of FASB Statement No. 109 ("FIN 48"). FIN 48 prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of the tax position taken or expected to be taken in a tax return and provides guidance related to classification and disclosure matters. The impact of FIN 48 was not material in 2011 and thus, the FIN 48 disclosure was not included in the audited financial statements. F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Form 990, Part IV, Section A, Line 2 - The Museum's Board of Trustees includes two members from the same family - David Rockefeller, who is not a voting trustee and David Rockefeller, Jr. See Schedule L, Part V for further information. F990_P06_S0A_L06 Form 990, Part VI, Section A, Line 6 Form 990, Part IV, Section A, Line 6 - The Museum's Bylaws provide that the Members of the Corporation shall consist of members of the Board of Trustees, all persons who on November 1, 1939 were Patrons, Contribution Members or Sustaining Members, and all other persons who, subsequent to November 1, 1939, have been or shall be designated by the Board of Trustees as members of the Corporation. F990_P06_S0A_L07a Form 990, Part VI, Section A, Line 7a Form 990, Part IV, Section A, Line 7a - The Museum's Bylaws provide that the Members of the Corporation shall consist of members of the Board of Trustees, all persons who on November 1, 1939 were Patrons, Contribution Members or Sustaining Members, and all other persons who, subsequent to November 1, 1939, have been or shall be designated by the Board of Trustees as members of the Corporation. Members have equal voting rights. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b The Museum's form 990 is drafted by the Museum's Controller's Office with input from many Museum departments. It is then reviewed by Museum senior staff including the Director, the Chief Operating Officer, the Chief Financial Officer, and the General Counsel, as well as by external tax advisers. The 990 is then presented to the Museum's Audit Committee of the Board of Trustees for review and approval. A copy of the 990 is provided to each member for the Board of Trustees electronically or in printed copy prior to filing the return. The return is also available on the Museum's website. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c On an annual basis, the Museum distributes its Code of conduct to all Trustees and designated employees and requires that Conflict of Interest Questionnaires be completed and returned for initial review by the Office of the General Counsel. Amongst other things, the Conflict of Interest Questionnaire requires the responder: confirm that he or she has read and understands the Code of Conduct, agree to abide by it, identify whether he or she or a family member has any relationship with the Museum that may represent a conflict of interest as defined by the Code and report any knowledge of a transaction which should be reported under the Code, etc. When potential employee conflicts of interest are reported or identified, when necessary, an investigation is conducted to determine the facts and circumstances and recommendation of action, if warranted. Such action may include, but is not limited to, prohibiting the individual from participating in deliberations and decisions regarding the transaction in question, or taking a disciplinary action, which in appropriate circumstances may include suspension or termination. The employee's supervisor is notified of an employee with identified conflicts and the action to be taken, if any. When potential Trustee conflicts of interest are reported or identified, the General Counsel's office makes a report to a committee of the Board of Trustees with a recommendation for action, if warranted, including but not limited to disclose to the Board of Trustees, prohibiting the Trustee from participating in and/or voting on the transaction in question, resignation from the Board of Trustees, etc. The Code of Conduct further provides that the committee make a recommendation to the Chairman of the Board for decision by the Board. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The process for determining the compensation for the Museum director and other key employees includes reviews and approval by the Board of Trustees' Compensation Subcommittee of the Executive Committee (the "committee") a committee of the governing body consisting of independent trustees, and not including the Director or other staff members. In making its determination, the Committee obtains and reviews comparability data with respect to compensation levels paid for comparable job positions obtained through the assistance of an expert compensation consultant which, in appropriate instances, includes survey data regarding compensation levels paid by similarly situated organizations for comparable employment positions, form 990 data from other leading museums and cultural and education institutions, as well as for profit institutions. The determination, deliberation and decisions made by the Committee are contemporaneously substantiated and documented in minutes of the meeting which include the Committee members present and participation, the compensation terms approved, the data relied upon and how it was obtained. The Committee meets periodically and a formal review is made annually, the last meeting was held in January during fiscal year 2011. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The Museum's governing documents are available upon request. Conflict of Interest policy, Code of Conduct policy, prior years Financial Statements and prior years 990 are available to the public through the Museum's website www.moma.org and upon request. F990_P11_S00_L05 Form 990, Part XI, Line 5 Other changes in net assets include defined benefit plan changes other than periodic benefit costs $12,116,592, changes on valuation of interest rate swap ($442,945)and unrealized gains on the investment portfolio $75,824,032. Modern and Contemporary Art Support Corp 11 West 53rd Street New York NY 10019 133910972 Receive, acquire & hold title in ppty DE 501 (c) 3 11 - Type 1 N/A 1 MoMA Auxiliaries 11 West 53rd Street New York NY 10019 133975341 Operate Retail Stores DE 501 (c) 3 11 - Type 1 N/A 1 PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 Contemporary Art Exhibitions NY 501 (c) 3 7 N/A 1 AFE LLC 11 West 53rd Street New York NY 10019 202379359 Real Estate NY N/A Related 318545 5093697 0 1 1 Alta Cultura 11 West 53rd Street New York NY 10019 134114902 General Business Corporation DE N/A C 0 857198 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 PS1 Contemporary Art Center Inc k 648920 cost method PS1 Contemporary Art Center Inc b 821796 cost method Modern and Contemporary Art Support Corp o 263565 cost method