2011-07-15T14:17:59-05:00 2010-08-31 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2009-09-01 042103652 AMERICAN ANTIQUARIAN SOCIETY AMER 5087555221 185 SALISBURY STREET WORCESTER MA 01609 ELLEN S DUNLAP 5087555221 2011-07-15 1 Barbara E King 5087557107 2011-07-15 2009 2016-02-24 21:20:13Z ELLEN S DUNLAP 185 SALISBURY STREET WORCESTER MA 01609 14424347 0 X http://www.americanantiquarian.org/ X 1812 MA THE AMERICAN ANTIQUARIAN SOCIETY IS BOTH A LEARNED SOCIETY AND NATIONAL RESEARCH LIBRARY OF PRE-TWENTIETH CENTURY AMERICAN HISTORY AND CULTURE. OUR MISSION IS TO COLLECT, PRESERVE, AND MAKE AVAILABLE FOR STUDY THE PRINTED RECORD OF WHAT IS NOW THE UNITED STATES OF AMERICA FROM FIRST EUROPEAN SETTLEMENT THROUGH THE YEAR 1876. AS A LEARNED SOCIETY, WE OFFER A WIDE VARIETY OF PROGRAMS FOR DIVERSE AUDIENCES INCLUDING:PROFESSIONAL SCHOLARS, PRE-COLLEGIATE, UNDERGRADUATE AND GRADUATE LEVEL STUDENTS AND EDUCATORS, PROFESSIONAL ARTISTS AND WRITERS, GENEALOGISTS, AND THE GENERAL PUBLIC. 19 19 80 12 15921 -15557 1689838 1840670 1417025 1381164 1100161 2028226 166 35387 4207190 5285447 232364 263285 0 3142077 3077078 0 169992 1843973 1992573 5218414 5332936 -1011224 -47489 59129180 59915454 2506228 2404258 56622952 57511196 SUPPORTS AND MAINTAINS A RESEARCH LIBRARY OF AMERICAN HISTORY AND CULTURE. 0 0 435314 BOOK PURCHASES - TO INCREASE COLLECTION OF BOOKS RELATING TO AMERICAN HISTORY PRIOR TO 1876. 3729659 1303606 CONSERVATION, CATALOGING AND OTHER - TO PRESERVE AND CATALOG THE SOCIETY'S COLLECTION OF BOOKS, NEWSPAPERS, MANUSCRIPTS & GRAPHIC ARTS IN CONJUNCTION WITH OTHER RESEARCH LIBRARIES. 367160 367160 61637 RESEARCH AND PUBLICATION - TO SUPPORT FELLOWSHIP PROGRAM FOR 45 FELLOWS, A PUBLICATION DEPARTMENT AND OTHER EDUCATIONAL SEMINARS. 4532133 1 1 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 88 0 1 80 1 1 1 1 CJ 0 0 0 0 0 0 0 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X GEORGE W TETLER TREASURER 5089263437 BOWDITCH DEWEY LLP 311 MAIN ST WORCESTER MA 01608 SIDNEY LAPIDUS 2.00 X 0 0 0 CHERYL HURLEY 2.00 X 0 0 0 GEORGE W TETLER III 2.00 X 0 0 0 RICHARD D BROWN 2.00 X 0 0 0 JOHN HERRON JR 2.00 X 0 0 0 ELLIOT B DAVIS 2.00 X 0 0 0 KATE VAN WINKLE KELLER 2.00 X 0 0 0 JOHN W TYLER 2.00 X 0 0 0 LAUREL THATCHER ULRICH 2.00 X 0 0 0 OGRETTA V MCNEIL 2.00 X 0 0 0 WILLIAM S REESE 2.00 X 0 0 0 CHARLES HB ARNING 2.00 X 0 0 0 MARTHA ANN SANDWEISS 2.00 X 0 0 0 DAVID RUMSEY 2.00 X 0 0 0 ANN V FABIAN 2.00 X 0 0 0 JANE KAMENSKY 2.00 X 0 0 0 JANE M DEWEY 2.00 X 0 0 0 BARBARA A LEVY 2.00 X 0 0 0 RICHARD RABINOWITZ 2.00 X 0 0 0 EDWARD HARRIS 35.00 X 115683 0 16446 JOHN KEENUM 35.00 X 107992 0 18442 THOMAS KNOLES 35.00 X 120940 0 10028 SUSAN FORGIT 28.00 X 67935 0 5892 ELLEN S DUNLAP 35.00 X X 185995 0 20508 ALAN DEGUTIS 35.00 X 84635 0 12262 598545 0 71316 4 0 1 0 SHAWMUT DESIGN AND CONSTRUCTION 560 HARRISON AVENUE BOSTON MA 02118 CONSTRUCTION MANAGEMENT 1380225 BENOIT REARDON ARCHITECTS PC 287 PARK AVENUE WORCESTER MA 01609 ARCHITECTURAL 124608 2 886820 953850 91000 1840670 SALE OF PUBLICATIONS 713990 1273430 1273430 MEETING,SEMINARS,COURS 713990 45272 45272 RENTAL FOR FELLOWSHIPS 713990 30720 30720 WOO CARD INCOME 900099 15921 15921 ROYALTIES 900099 15821 15821 1381164 1410103 1410103 1155 580 575 575 575 9756443 9138320 618123 618123 618123 OTHER INCOME 900099 34812 34812 34812 5285447 2002932 15921 1425924 263285 263285 598545 120940 369613 107992 2478533 2290326 152753 35454 7083 7083 21675 21675 34925 34925 84959 76854 8105 75364 66206 33 9125 562320 552867 9453 103875 103875 37443 36969 213 261 300216 292591 1706 5919 43297 39495 3038 764 COLLECTION PURCHASES 435314 435314 COMPUTER OPERATIONS 133654 120909 10832 1913 OFFICE & LIBRARY 87717 79794 4793 3130 PROGRAMS & EVENTS 52530 44420 2676 5434 LICENSES & TAXES 8755 8288 467 3446 3446 5332936 4532133 630811 169992 1816980 1119200 147496 219179 52046 55154 15650233 4579635 9278359 11070598 46235523 47161684 1598776 289639 59129180 59915454 135512 193543 2370716 2210715 2506228 2404258 X 9425502 10210214 25533518 25550588 21663932 21750394 56622952 57511196 59129180 59915454 X 0 1 1 X 1 1 X 1971999 1969126 2492840 1689838 1840670 9964473 1971999 1969126 2492840 1689838 1840670 9964473 1105668 8858805 2469095 2787846 3509361 2349652 1410678 12526632 1832 257869 166 51890 311757 22802862 6935146 0.38850 0.38370 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 47182092 80222 2868689 2871093 34925 47224985 49370142 3496493 -3352589 2285980 45974 47182092 0.54000 0.46000 0 0 13953593 3293891 10659702 1353247 1285744 67503 343393 343393 11070598 LONG TERM DEBT 2210715 2210715 5285447 5332936 -47489 935733 935733 888244 6186835 935733 935733 5251102 34925 -580 34345 5285447 5298591 0 5298591 34925 -580 34345 5332936 Part III, Line 1a: AS ALLOWED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA AND FOLLOWING THE PRACTICES OF MANY LIBRARIES AND MUSEUMS, THE SOCIETY HAS NOT CAPITALIZED ITS COLLECTION OF ITEMS OF HISTORICAL NATURE AND OTHER RELATED OBJECTS PURCHASED OR DONATED. THE COLLECTION IS HELD FOR PUBLIC EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. THE SOCIETY CONTINUALLY REVIEWS ITS COLLECTION AND MAY DEACCESS OR ACQUIRE ADDITIONAL ITEMS. EXPENDITURES FOR ADDITIONAL COLLECTION ITEMS ARE PRESENTED AS A REDUCTION IN THE APPROPRIATE CLASS OF NET ASSETS. THE SOCIETY'S ENDOWMENT CONSISTS OF INDIVIDUAL DONOR RESTRICTED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE COUNCIL TO FUNCTION AS ENDOWMENT. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED OR LEGAL RESTRICTIONS. ENDOWMENT FUNDS INCLUDE INVESTED GIFTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE SOCIETY CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED IN PERMANENTLY RESTRICTED NET ASSETS IS CLASSIFIED AS TEMPORARILY RESTRICTED NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE SOCIETY IN A MANNER CONSISTENT WITH THE STANDARD OF PRUDENCE PRESCRIBED BY STATE LAW. IN ACCORDANCE WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS ACT, THE SOCIETY CAN CONSIDER THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: *THE DURATION AND PRESERVATION OF THE FUND *THE PURPOSES OF THE ORGANIZATION AND THE DONOR-RESTRICTED ENDOWMENT FUND *GENERAL ECONOMIC CONDITIONS *THE POSSIBLE EFFECT OF INFLATION AND DEFLATION *THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS *OTHER RESOURCES OF THE ORGANIZATION *THE INVESTMENT POLICIES OF THE ORGANIZATION THE SOCIETY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS COUNCIL-DESIGNATED AND OTHER ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING FOR ITS PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. UNDER THIS POLICY, AS APPROVED BY THE COUNCIL, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED THE PRICE AND YIELD RESULTS OF THE S&P 500 INDEX WHILE ASSUMING A MODERATE LEVEL OF INVESTMENT RISK. THE SOCIETY EXPECTS ITS ENDOWMENT FUNDS, OVER TIME, TO PROVIDE AN AVERAGE RATE OF RETURN OF APPROXIMATELY 8% ANNUALLY. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE SOCIETY RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE SOCIETY HAS INVESTED IN A PORTFOLIO THAT TARGETS A DIVERSIFIED ASSET ALLOCATION, PLACING A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE SOCIETY HAS A POLICY OF APPROPRIATING FOR DISTRIBUTION EACH YEAR 4.5 TO 5% OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR TWELVE QUARTERS THROUGH MAY 31 OF THE YEAR PRECEDING THE YEAR IN WHICH THE DISTRIBUTION IS PLANNED. IN ESTABLISHING THIS POLICY, THE SOCIETY CONSIDERED THE LONG-TERM EXPECTED RETURN ON ITS ENDOWMENT. ACCORDINGLY, OVER THE LONG TERM, THE SOCIETY EXPECTS THE CURRENT SPENDING POLICY TO ALLOW ITS ENDOWMENT TO GROW AT AN AVERAGE OF 2.5-3% ANNUALLY. THIS IS CONSISTENT WITH THE SOCIETY'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF ITS ENDOWMENT. FROM TIME TO TIME, THE FAIR VALUE OF ASSETS ASSOCIATED WITH INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS MAY FALL BELOW THE LEVEL THAT THE DONOR IMPOSED RESTRICTIONS REQUIRE THE SOCIETY TO RETAIN AS A FUND OF PERPETUAL DURATION. IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, DEFICIENCIES OF THIS NATURE ARE REPORTED IN UNRESTRICTED NET ASSETS. SUCH DEFICIENCIES AMOUNTED TO $100,985 AS OF AUGUST 31, 2010. 1 CASH FELLOWSHIPS 47 263285 0 N/A N/A 1 X X X X 0 0 0 0 0 0 0 0 0 ELLEN S DUNLAP 185995 0 0 0 0 0 14403 0 6105 0 206503 0 0 0 MASSACHUSETTS HEALTH & EDUCATIONAL FACILITIES AUTHORITY 042456011 57585KXS7 2001-06-14 2168700 LONG-TERM FINANCING FOR IMPROVEMENTS AND UPKEEP 0 0 2168700 249619 205644 1791360 2010 0 0 1 1 0 0 0 0 0 1 0 1 0 0 0 0 X 1 91000 REAL ESTATE APPRAISAL 0 1 0 Form 990, Part VI, Section B, line 11 990 DRAFT WILL BE E-MAILED TO EACH OFFICER AND COUNCIL MEMBER FOR REVIEW BEFORE IT IS FILED. Form 990, Part VI, Section B, line 12c THE ORGANIZATION ANNUALLY REVIEWS INFORMATION PROVIDED BY OFFICERS, DIRECTORS/TRUSTEES AND KEY EMPLOYEES TO INSURE COMPLIANCE WITH CONFLICT OF INTEREST POLICY. Form 990, Part VI, Section B, line 15a SEE SCHEDULE J Form 990, Part VI, Section C, line 19 ANY REQUESTS FOR THE ORGANIZATION'S DOCUMENTS, POLICIES, FINANCIAL STATEMENTS OR RETURNS ARE FORWARDED TO THE PRESIDENT OF THE SOCIETY WHO MAKES ARRANGEMENTS FOR THE RELEASE OF INFORMATION. THE ORGANIZATION'S TAX RETURNS ARE ALSO LISTED ON OTHERS' WEBSITES. PAGE 6, PART VI-SECTION B, QUESTIONS 15A & 15B EXECUTIVE COMPENSATION PROCESS 1. Compensation Review for the President On an annual basis, usually in conjunction with the July meeting of the Council, the Executive Committee of the Council will conduct an evaluation of the President for the purposes of determining her/his compensation. Executive compensation data for institutions designated by the Council as comparable to AAS will be considered when setting overall compensation. Within thirty days of their evaluation, the Executive Committee will communicate in writing the results of their evaluation to the President. This communication should contain a statement of the compensation for the President for the next fiscal year. A contemporaneous record of the deliberations of the Executive Committee and of the Council as they relate to the evaluation of the President will be made and retained. To support the Council's evaluation, the President will provide various documents, according to a schedule established by the Executive Committee: -A self-assessment narrative -Progress reports on goals and objectives -Budget vs. actual financial reports -Reports on fundraising and earned revenues -Data on management effectiveness, such as staff turnover and periodically, job satisfaction surveys. -Reports from outside evaluators that may be received in the course of grant reviews and financial or regulatory audits, or may be commissioned by the Society from time to time. FORM 990, SCHEDULE M NON-CASH CONTRIBUTION THE $91,000 REPORTED ON SCHEDULE M AS A NON-CASH CONTRIBUTION IS A BARGAIN PURCHASE AGREEMENT OF REAL ESTATE WITH BUILDING AND LAND VALUED AT $543,055. FORM 990, PART V, LINE 4A FOREIGN INVESTMENT THE ASSET HELD IN THE CAYMAN ISLANDS IS THE TIFF ABSOLUTE RETURN POOL II.