2011-05-12T11:30:35-07:00 2010-06-30 990 2009-07-01 131624100 MUSEUM OF MODERN ART MUSE 2127089801 11 West 53rd Street New York NY 10019 James Gara 2127089793 2011-05-13 2009 2016-02-24 21:20:13Z Marie-Josee Kravis 11 West 53rd Street New York NY 10019 327277399 0 X 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. 41 41 1084 305 936933 -676843 63400702 67963087 25045572 28045516 -13423662 39245708 29526498 31135270 104549110 166389581 649676 761031 0 0 71321897 70577895 0 0 12556207 148340112 122034451 220311685 193373377 -115762575 -26983796 1390767423 1449468603 406626083 453862811 984141340 995605792 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. The Museum served approximately 3.1 million visitors during FY2010 and had approximately 125,000 members at June 30, 2010. 0 0 54219310 761031 68081540 Curatorial and curatorial support departments including conservation, education, exhibition costs, publications, library and archive - See schedule O for more information. 15970027 0 11295859 Acquisitions of Art - See schedule O for more information 30536720 0 37809970 Security, operation and maintenance of exhibition galleries and art collection. See Schedule O for more information. 38910760 0 49273712 Other program services - See schedule O for more information 38910760 0 49273712 139636817 1 1 0 1 0 0 1 0 1 1 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 0 0 0 1 525 0 1 1084 1 1 1 1 UK 0 0 0 1 1 0 0 0 1 1 41 41 1 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AK AL AR AZ CA CT DC 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 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 Lawrence B Benenson as of 4-13-2010 1 X 0 0 0 Clarissa Alcock Bronfman 0.5 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 as of 2-9-2010 1 X 0 0 0 Laurence D Fink as of 4-13-2010 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 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 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 Harvey S Shipley Miller 1 X 0 0 0 Anna Deavere Smith 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 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 831681 0 755324 James Gara 40 X 491342 0 307618 Patty Lipshutz 40 X 336979 0 96790 Kathy Halbreich 40 X 406121 0 79690 Michael Margitich 40 X 452438 0 285417 Peter Reed 40 X 261340 0 102023 Jennifer Russell 40 X 283915 0 86983 Peter Galassi 40 X 219810 0 55223 Deborah Wye 40 X 215226 0 60450 Klaus Biesenbach 40 X 199832 0 44217 Cornelia Butler 40 X 198285 0 44793 Barry Bergdoll 40 X 193908 0 55376 Rajendra Roy 40 X 189312 0 42038 Ann Temkin 40 X 216773 0 62635 Jan Postma 40 X 275868 0 47445 Frank Ahimaz 40 X 474785 0 84448 Tunji Adeniji 40 X 203820 0 49181 Kathy Thornton Bias 40 X 430330 0 45771 Christopher Hudson 40 X 280597 0 113604 Steve Peltzman 40 X 294935 0 60299 Kenneth Percy 40 X 271374 0 63552 Patricia Jeffers 40 X 247304 0 58628 John Elderfield 0 X 100047 0 0 Kynaston McShine 0 X 26630 0 0 7102652 0 2601505 94 1 1 0 Proskaur Rose LLP Eleven Time Square New York NY 10036 Legal Services 1802342 Shulte Roth & Zabel LLP 919 Third Avenue New York NY 10022 Legal Services 851209 Kramer Levin Naftalis Frankel LLP 1177 Avenue of the Americas New York NY 10036 Legal Fees 666838 Chieftan Capital Management 12 East 49th Street New York NY 10017 Investment Mgmt Fees 598115 Lone Cascade Two Greenwich Plaza 14th Floor Greenwich CT 06830 Investment Mgmt Fees 544310 28 0 3003051 2900570 0 47775 62011691 406103 67963087 Admissions 712100 24792490 24792490 0 0 Exhibitions 712100 2870650 2870650 0 0 Other Museum Programs 712100 382376 382376 0 0 0 0 0 0 28045516 12309761 0 0 12309761 0 0 0 0 0 0 0 0 1602636 0 248319 0 1354317 0 1354317 0 0 1354317 149983000 11295859 134342912 0 15640088 11295859 26935947 11295859 -1046222 16686310 577875 2900570 1135101 -557226 0 0 -557226 0 0 0 0 0 0 51422662 25161486 26261176 25952288 308888 0 Museum Restaurants 722100 1029382 0 0 1029382 Corporate Events 900099 3047621 1373354 1674267 0 0 0 0 0 4077003 166389581 66667017 936933 30822544 761031 761031 0 0 0 0 6026215 2455762 3009833 560620 0 0 0 0 46156952 36199570 6622992 3334390 7769490 5755347 1434220 579923 6788671 4420528 1747643 620500 3836567 3072782 511777 252008 0 0 0 0 1577224 1317449 259775 280419 0 280419 42000 0 42000 0 0 0 4464210 4464210 12301759 8697592 1559131 2045036 5826922 5826922 11499759 7110447 1936221 2453091 921130 153248 767882 0 0 0 0 14309455 8295493 4695338 1318624 1790503 1554290 224065 12148 0 0 0 0 14843082 11950464 2209900 682718 28170417 20610506 7363827 196084 1905175 1630720 209678 64777 Acquisition of Art 15970027 15970027 0 0 Membership Dues and Subscriptions 241812 97628 137019 7165 Administrative and Other Expenses 7890557 3757011 3704423 429123 193373377 139636817 41180353 12556207 1044479 659359 43815700 51169000 174458000 161978000 637000 2004000 0 0 0 0 0 0 9750000 9932000 11833000 11212000 720753272 187673028 543919244 533080244 304595000 328298000 264079000 314243000 36636000 36893000 1390767423 1449468603 37746652 36593474 2509000 37751000 300852000 299536000 2697820 3612164 33000000 33000000 29820611 43370173 406626083 453862811 X 678450340 665733792 90204000 107946000 215487000 221926000 984141340 995605792 1390767423 1449468603 X 0 1 1 X 0 X 133523000 89052665 97335481 62933969 67986812 450831927 0 0 0 0 0 0 0 0 0 0 0 0 133523000 89052665 97335481 62933969 67986812 450831927 87401932 363429995 15079000 13132245 14566283 8903526 13664078 65345132 1415741 1253962 893710 307814 0 3871227 0 0 0 0 0 0 520048286 367111986 0.69884 0.81840 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 42000 42000 193331377 193373377 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 3500 15000 44000 42000 104500 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 0 0 X X X X 0 324195000 34778000 16174000 0 18432000 0 356715000 384845000 28593000 -42626000 0 46617000 0 324195000 0.07 0.62 0.31 0 0 0 91352000 91352000 0 532543272 127050028 405493244 0 4254000 3727000 527000 0 67742000 56896000 10846000 0 24862000 0 24862000 533080244 Absolute Return 200771000 F Private Equity 93839000 F Real Assets 19633000 F 314243000 Accrued investment income and other receivables 1248000 Trust for Cultural Resources Receivable 35645000 36893000 0 Pension and postretirement benefit obligation 39946173 Investments held on behalf of others 3424000 43370173 166389581 193373377 -26983796 48910000 0 0 0 -10582130 38327870 11344074 235188000 48910377 0 0 0 48910377 186277623 5971000 -25859042 -19888042 166389581 223844000 0 0 0 11184809 11184809 212659191 5971000 -25256814 -19285814 193373377 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 art, including 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, preserve, 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 endowment 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 2010 or 2009. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 Primarily defined benefit plan changes other than net periodic benefit cost ($10,862,000), change in swap valuation $399,870 and related organizations which file a separate return ($120,000). SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Primarily cost of goods sold on retail operations ($25,161,486) and related organizations which file a separate return ($645,000) and other amounts totaling ($52,556). SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d Primarily defined benefit plan changes other than net periodic benefit costs ($10,862,000), change in valuation of interest rate swap $399,870, related organizations which file a separate return ($765,000) and other amounts totaling $42,321. SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b Primarily Cost of goods sold on retail operations - see 990 Section VIII 10b Central America and the Caribbean Investments Europe (including Iceland and Greenland) Investments 0 0 0 Party in the Garden 1859500 1661150 198350 0 0 0 0 0 578806 DR Luncheon 784000 725200 58800 0 0 0 0 0 111688 5 834945 514220 320725 0 0 0 0 0 444607 3478445 2900570 577875 0 0 0 0 0 1135101 1135101 -557226 1 PS1 Contemporary Art Center Inc 46-01 21st Street Long Island City NY 11101 237379091 501 c(3) 761031 0 Operating support 1 1 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 1 0 0 0 0 0 1 0 Glenn D Lowry 670875 0 159000 0 1806 0 403635 0 351689 0 1587005 0 0 0 James Gara 398072 0 75000 0 18270 0 273936 0 33682 0 798960 0 0 0 Patty Lipshutz 318893 0 0 0 18087 0 65197 0 31592 0 433769 0 0 0 Kathy Halbreich 403450 0 0 0 2671 0 47666 0 32024 0 485811 0 0 0 Michael Margitich 401970 0 31250 0 19218 0 255633 0 29784 0 737855 0 0 0 Peter Reed 260256 0 0 0 1084 0 72239 0 29784 0 363363 0 0 0 Jennifer Russell 265185 0 0 0 18730 0 57199 0 29784 0 370898 0 0 0 Peter Galassi 200488 0 0 0 19322 0 24041 0 31182 0 275033 0 0 0 Deborah Wye 211626 0 0 0 3600 0 29100 0 31350 0 275676 0 0 0 Klaus Biesenbach 183104 0 0 0 16728 0 13390 0 30827 0 244049 0 0 0 Cornelia Butler 195445 0 0 0 2840 0 13128 0 31665 0 243078 0 0 0 Barry Bergdoll 189410 0 0 0 4498 0 24549 0 30827 0 249284 0 0 0 Rajendra Roy 189119 0 0 0 193 0 12254 0 29784 0 231350 0 0 0 Ann Temkin 212173 0 0 0 4600 0 31808 0 30827 0 279408 0 0 0 Jan Postma 275600 0 0 0 268 0 16618 0 30827 0 323313 0 0 0 Frank Ahimaz 399384 0 75000 0 401 0 84448 0 0 0 559233 0 0 0 Tunji Adeniji 186965 0 0 0 16855 0 18354 0 30827 0 253001 0 0 0 Kathy Thornton Bias 304973 0 125000 0 357 0 44398 0 1373 0 476101 0 0 0 Christopher Hudson 278367 0 0 0 2230 0 80603 0 33001 0 394201 0 0 0 Steve Peltzman 293889 0 0 0 1047 0 27591 0 32707 0 355234 0 0 0 Kenneth Percy 225204 0 45000 0 1170 0 30502 0 33050 0 334926 0 0 0 Patricia Jeffers 246614 0 0 0 690 0 27844 0 30784 0 305932 0 0 0 John Elderfield 0 0 0 0 100047 0 0 0 0 0 100047 0 0 0 Kynaston McShine 0 0 0 0 26630 0 0 0 0 0 26630 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 are included in the Director's compensation. Any business class travel would be in accordance with the Museum's Travel and Expenditure guidelines which allows business class travel on flights longer than nine hours, approved by the President. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 The Museum settled a supplemental retirement obligation for a key employee who left the Museum during the fiscal year. 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 2009 is an annual bonus of $159,000. The Director is eligible for a long term performance bonus related to accomplishment 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 estimated value of his housing is approximately $318,000 per annum and 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 2009 and is included in compensation. The plan was subject to the achievement of multi-year service and performance requirements. Michael Margitich - Senior Deputy Director for External Affairs. Full-time employee 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 2009 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 Thronton-Bias - General Manager - Retail. Full-time employee but not Trustee. Eligible for annual bonus based on achievement of performance measurements. The Trust for Cultural Resources of the City of New York 911882413 649717PC3 2008-07-23 202520188 Refund Issuer's 2000-One-A & B and 2001-One A,B & C 0 0 202818514 0 0 0 1080259 0 0 2004 1 0 1 1 0 0 0 0 0 1 Paula Crown Trustee 505330 see schedule O 0 Jerry I Speyer Trustee 505330 see schedule O 0 X 699 0 not applicable X 2 0 not applicable X 29 406103 settlement X Art Inventory donated for Retail sale 5677 0 Revenue proceeds from the donated art inventory are reflected in Gross Revenues, Part VIII, 10a 0 1 0 SchM_P01_S00_L00 Schedule M, Part I Nonmonitary 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. 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. SchM_P01_S00_L03 Schedule M, Part I, Line 3 Gifts of art work are considered by individual item. Fractional interests in art are considered one gift per partial interest. SchM_P01_S00_L09 Schedule M, Part I, Line 9 Gifts of stock from the same person, on the same trade date, are considered in the aggregate as one gift. 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 solely 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 painting, sculpture, drawing, printmaking, photography, film, media,performance, architecture, and industrial and graphic design. The Museum also operates a publishing program, conducts an extensive education program, and maintains a major library and archives. Its exhibitions are circulated nationally and internationally. The Museum's primary sources of support are admission 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 45 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 of the cultural and aesthetic contexts of major historical moments, and also supports the work of less well known living artists through continuing exhibitions to review the latest trends in contemporary art. The Museum's programs are organized through seven curatorial and a number of curatorial support departments. The curatorial support departments include collection care, collection exhibition technology, conservation, exhibition administration, exhibition 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 100,000 individuals participate in targeted education programs on and off site each year, and all Museum visitors have access to the many forms of educational resources that complement the collection and exhibitions. These resources include informational 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 archives reading room, and three curatorial study centers. Educational programs take place throughout the week. F990_P03_S00_L04d Form 990, Part III, Line 4d Other Program Services Expenses primarily consists of Administrative ($3.8Million), Interest Expense ($12Million), Fees for Outside Services ($10Million), Advertising ($6Million), and Office Expenses ($7Million) F990_P06_S0A_L00 Form 990, Part VI, Section A The Museum has a class of Life Trustees that serve the Museum in the Trustee capacity, but do not have voting rights. F990_P06_S0A_L02 Form 990, Part VI, 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. Robert B. Menschel, Trustee, is a Senior Director of Goldman Sachs. He refrains from any decision-making or transactions between the Museum and Goldman Sachs. F990_P06_S0A_L06 Form 990, Part VI, 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, Contributing 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_S0A_L07a Form 990, Part VI, 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, Contributing 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_S0B_L11 Form 990, Part VI, Section B, Line 11 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 advisors. 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 of the Board of Trustees electronically or in printed copy prior to filing the return. 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 to: 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 disclosure to the Board of Trustees, prohibiting the Trustee from participating in and/or voting on the transaction in questions, 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 review 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 participating, 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 September, 2009, during fiscal year 2010. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The Museum's governing documents, conflict of interest policy and financial statements are available upon request. SchL_P04_S00_L00 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 other's venue. Two Trustees of the Museum have direct or indirect financial interests in Top of the Rock. In addition, these Trustees also have direct and indirect interests together in entities that own real estate investment properties around the world. 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 N/A MoMA Auxiliaries 11 West 53rd Street New York NY 10019 133975341 Operate Retail Stores DE 501 (c) 3 11 N/A 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 AFE LLC 11 West 53rd Street New York NY 10019 202379359 Real Estate NY N/A Related 301349 5328584 0 1 Alta Cultura 11 West 53rd Street New York NY 10019 134114902 General Business Corporation DE N/A C 0 0 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 594530 PS1 Contemporary Art Center Inc b 761031 Modern and Contemporary Art Support Corp o 244913