2011-02-14T15:51:11-06:00 2010-06-30 PricewaterhouseCoopers LLP 1301 K STREET NW STE 800W WASHINGTON DC 200053333 990 2009-07-01 131624086 METROPOLITAN MUSEUM OF ART METR 2128795500 1000 FIFTH AVENUE NEW YORK NY 100280198 OLENA PASLAWSKY 2011-02-14 2024141000 2009 2016-02-24 21:20:13Z THOMAS CAMPBELL 1000 FIFTH AVENUE NEW YORK NY 10028 1340265038 false X WWW.METMUSEUM.ORG X 1870 NY THE MISSION OF THE METROPOLITAN MUSEUM OF ART IS TO COLLECT, PRESERVE, STUDY, EXHIBIT, AND STIMULATE APPRECIATION FOR AND ADVANCE KNOWLEDGE OF WORKS OF ART. SEE SCHEDULE O FOR MORE INFORMATION. 45 42 2709 1341 -4688652 0 159035838 153972180 16021203 12477967 112514960 78625097 31482653 33793807 319054654 278869051 1467163 1462445 0 0 170999567 158962526 358741 277770 8655666 178753773 156857973 351579244 317560714 -32524590 -38691663 2875202175 2972734449 450930642 432625884 2424271533 2540108565 THE MISSION OF THE METROPOLITAN MUSEUM OF ART IS TO COLLECT, PRESERVE, STUDY, EXHIBIT, AND STIMULATE APPRECIATION FOR AND ADVANCE KNOWLEDGE OF WORKS OF ART. SEE SCHEDULE O FOR MORE INFORMATION. false false 32138524 4026400 ACQUISITIONS OF ART - SEE SCHEDULE O FOR MORE INFORMATION 66969380 1462445 3980421 CURATORIAL DEPARTMENTS, INCLUDING OPERATION OF THE CLOISTERS, CONSERVATION, CATALOGUING AND SCHOLARLY PUBLICATIONS (INCLUDES FELLOWSHIP AWARDS AND TRAVEL STIPENDS IN THE AMOUNT OF $1,462,445) - SEE SCHEDULE O FOR MORE INFORMATION 59006153 GUARDIANSHIP AND MAINTENANCE OF THE MUSEUM AND ITS ART COLLECTION - SEE SCHEDULE O FOR MORE INFORMATION 39557394 DEPRECIATION 31767974 28641920 MERCHANDISING OPERATIONS 8751500 SPECIAL EXHIBITIONS 13421772 COMMUNITY PROGRAMS AND LIBRARIES 7636304 RENOVATION OF GALLERIES 4605044 340786 COMMUNICATIONS 3381553 MEMBERSHIP SERVICES INC BULLETIN 2650076 8156760 OPERATION OF AUDITORIUM 3161572 OPERATION OF RESTAURANTS 1423150 OPERATION OF PARKING GARAGE 907260 -1114136 CORPORATE EVENTS & FUNDRAISING 117263599 36025330 275377656 true true false true false false true false true true true false false false true 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70384648 57718198 12666450 429113560 PRIVATE EQUITY 546967068 F REAL ASSETS 223250573 F 770217641 0 ANNUITY & SPLIT-INT OBLIGS. 13328426 13328426 278869051 317560714 -38691663 197952158 -43423463 154528695 115837032 374253977 197952158 -89164167 108787991 265465986 13403065 13403065 278869051 289209713 61566617 61566617 227643096 89917618 89917618 317560714 SCHEDULE D, PART III, LINE 1A SFAS 116 FOOTNOTE IN CONFORMITY WITH ACCOUNTING POLICIES GENERALLY FOLLOWED BY ART MUSEUMS, THE VALUE OF THE MUSEUM'S COLLECTIONS HAS BEEN EXCLUDED FROM THE BALANCE SHEET, AND GIFTS OF ART OBJECTS ARE EXCLUDED FROM REVENUE IN THE STATEMENT OF ACTIVITIES. PURCHASES OF ART OBJECTS BY THE MUSEUM ARE RECORDED AS DECREASES IN NET ASSETS IN THE STATEMENT OF ACTIVITIES. PURSUANT TO STATE LAW AND MUSEUM POLICY, PROCEEDS FROM THE SALE OF ART AND RELATED INSURANCE SETTLEMENTS ARE RECORDED AS TEMPORARILY RESTRICTED NET ASSETS FOR THE ACQUISITION OF ART. SCHEDULE D, PART III, LINE 4 DESCRIPTION OF ORGANIZATION'S COLLECTIONS & FURTHERANCE OF EXEMPT PURPOSE THE MUSEUM'S COLLECTIONS COMPRISE MORE THAN TWO MILLION WORKS OF ART FROM ANCIENT MEDIEVAL, AND MODERN TIMES AND FROM ALL AREAS OF THE WORLD. THEY OFFER A SURVEY OF CONSIDERABLE BREADTH OF ART FROM THE ANCIENT CIVILIZATIONS OF ASIA, AFRICA, SOUTH AMERICA, THE PACIFIC ISLANDS, EGYPT, THE NEAR EAST, AND GREECE AND ROME TO THE PRESENT TIME. THE MUSEUM'S COLLECTIONS INCLUDE EUROPEAN PAINTINGS, MEDIEVAL ART AND ARCHITECTURE, ARMS AND ARMOR, PRINTS, PHOTOGRAPHS, DRAWINGS, COSTUMES, MUSICAL INSTRUMENTS, SCULPTURE, TEXTILES, AND DECORATIVE ARTS FROM THE RENAISSANCE TO THE PRESENT TIME, AS WELL AS ONE OF THE FOREMOST COLLECTIONS OF AMERICAN ART IN THE WORLD. THE MUSEUM ALSO MAINTAINS SOME OF THE MOST COMPREHENSIVE ART AND ARCHITECTURE LIBRARIES IN THE UNITED STATES. THE COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN FURTHERANCE OF PUBLIC SERVICE, RATHER THAN FOR FINANCIAL GAIN. SCHEDULE D, PART V, LINE 4 INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS THE MUSEUM'S ENDOWMENT FUNDS ARE INTENDED TO SUPPORT EDUCATIONAL PROGRAMS, SCHOLARLY RESEARCH AND PUBLICATIONS, ACQUISITIONS OF WORKS OF ART, CONSERVATION OF WORKS OF ART, SPECIAL EXHIBITIONS OF INTEREST TO THE PUBLIC, MAINTENANCE AND EXPANSION OF GALLERIES, AND GENERAL OPERATING SUPPORT FOR MUSEUM EXPENSES. SCHEDULE D, PART XI, LINE 8 OTHER RECONCILING ITEMS CHANGE IN THE FAIR VALUE OF INTEREST RATE AGREEMENTS AND EFFECT OF INTEREST RATE SWAPS (6,186,478); RECLASSIFICATION, FEES AND OTHER (8,044,938); CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENT 1,973,946; PENSION RELATED CHANGES OTHER THAN NPPC (34,271,084); ADDITIONAL RETIREMENT CONTRIBUTION (4,697,973); PARTNERSHIP UBI 7,803,049; ROUNDING 15. SCHEDULE D, PART XII, LINE 1 AUDITED FINANCIAL STATEMENTS INCLUDE $294,107,540 FROM OPERATING ACTIVITIES AND $80,146,437 FROM NON-OPERATING ACTIVITIES FOR REVENUE, GAINS AND OTHER SUPPORT. SCHEDULE D, PART XII, LINE 2D AND 4B RECONCILING ITEMS FOR REVENUE AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990, PART VIII, LINE 12: LINE 2D, OTHER. COST OF SALES 46,006,720; INVESTMENT RETURN LESS THAN CURRENT SUPPORT OPERATING AND NON-OPERATING (150,730,784); UTILITIES PROVIDED BY THE CITY OF NEW YORK 12,715,597; FUNDRAISING SPECIAL EVENTS 2,676,698, ADVERTISING GIFT-IN-KIND 167,602. AMOUNTS INCLUDED ON FORM 990, PART VIII, LINE 12, BUT NOT LINE 1: LINE 4B, OTHER. PROCEEDS FROM SALES OF ART 146,400; CORPORATE EVENTS EXPENSE 907,260; INVESTMENT MANAGEMENT FEES 10,240,519; INSURANCE PROCEEDS 3,880,000; TRANSFER OF UNDESIGNATED NON-OPERATING FUNDS 6,031,936; PARTNERSHIP UBI (7,803,049) ROUNDING (1) SCHEDULE D, PART XIII, LINE 2D AND 4B RECONCILING ITEMS FOR EXPENSES AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990, PART IX, LINE 25: LINE 2D, OTHER. COST OF SALES 46,006,720; SPECIAL EVENTS DIRECT EXPENSES OTHER THAN FUNDRAISING 2,676,698; UTILITIES PROVIDED BY THE CITY OF NEW YORK 12,715,597; ADVERTISING GIFT-IN-KIND 167,602. AMOUNTS INCLUDED ON FORM 990, PART IX, LINE 25, BUT NOT LINE 1: LINE 4B, OTHER. NON-OPERATING DEPRECIATION AND MISCELLANEOUS NON-CAPITALIZED EXPENDITURES 42,180,089; PURCHASES OF ART 32,138,524; INVESTMENT MANAGEMENT FEES 10,240,519; CORPORATE EVENTS EXPENSE 907,260; EFFECT OF INTEREST RATE SWAP 4,451,226. true Europe (Including Iceland and Greenland) 0 0 Grantmaking T. ROUSSEAU FELLOWSHIP 172036 Russia and the Newly Independent States 0 0 Grantmaking T. ROUSSEAU FELLOWSHIP 1186 South Asia 0 0 Grantmaking T. ROUSSEAU FELLOWSHIP 7119 Middle East and North Africa 0 0 Grantmaking T. ROUSSEAU FELLOWSHIP 2373 Central America and the Caribbean Investments Europe (Including Iceland and Greenland) Investments North America Investments 0 0 182714 THEODORE ROUSSEAU FELLOWSHIP Europe/Iceland/Greenland 7 172036 CHECK 0 N/A N/A THEODORE ROUSSEAU FELLOWSHIP Russia 1 1186 check 0 n/a n/a THEODORE ROUSSEAU FELLOWSHIP South Asia 1 7119 check 0 n/a n/a THEODORE ROUSSEAU FELLOWSHIP Middle East/North Africa 1 2373 check 0 n/a n/a SCHEDULE F, PART I, LINE 2 THE MUSEUM AWARDS VARIOUS GRANTS, EDUCATIONAL TRAVEL STIPENDS AND FELLOWSHIPS ON AN OBJECTIVE AND NONDISCRIMINATORY BASIS. A GRANTS COMMITTEE, COMPRISED OF MUSEUM CURATORS, CONSERVATORS, EDUCATORS, SCIENTISTS AND LIBRARIANS, MAKES SELECTIONS BASED UPON COMPETITIVE WRITTEN APPLICATIONS. THE PURPOSE OF THE GRANTS IS TO PROVIDE AN OPPORTUNITY FOR THE GRANTEES TO CONDUCT RESEARCH, EXTEND THEIR PROFESSIONAL KNOWLEDGE AND CONTRIBUTE TO THEIR RESPECTIVE FIELDS AT LARGE. TO THE BEST OF THE MUSEUM'S KNOWLEDGE, NONE OF THE RECIPIENTS OF THE GRANTS OR FELLOWSHIPS ARE RELATED TO ANY PERSON SUCH AS A TRUSTEE, AN OFFICER, OR A KEY EMPLOYEE OF THE MUSEUM. EVERY GRANTEE IS ASSIGNED A SPECIFIC SUPERVISOR AT THE START OF THEIR FELLOWSHIP PERIOD. THE SUPERVISOR IS EITHER A CURATOR, CONSERVATOR OR SCIENTIST FROM THE DEPARTMENT HOSTING THE INDIVIDUAL SCHOLAR. THE SCHOLAR AND SUPERVISOR ARE IN CONTACT THROUGHOUT THE YEAR AND DISCUSS ALL OF THE DETAILS OF THE GRANTEE'S RESEARCH WORK. IN ADDITION, THE ACADEMIC PROGRAMS OFFICE WHICH IS RESPONSIBLE FOR ALL OF THE FELLOWS REQUIRES PERIODIC UPDATES ON THE INDIVIDUALS' RESEARCH. SCHEDULE F, PART I, LINE 3 IN ACCORDANCE WITH THE INTERNAL REVENUE SERVICE FREQUENTLY ASKED QUESTIONS ON REPORTING FOREIGN INVESTMENT ACTIVITY, THE ORGANIZATION IS NOT REPORTING EXPENDITURES ASSOCIATED WITH ITS FOREIGN INVESTMENTS. SCHEDULE F, PART III There were seven international fellows in total. One of the international fellows travelled to each of the regions listed on Part III. X X X X X X X true DONOR SERVICES GROUP TELE- MARKETING false 536252 277770 258482 536252 277770 258482 AL AK AZ AR CA CO CT FL GA HI IL KS KY LA ME MD MA MI MN MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI COSTUME INST. 8774826 8627576 147250 1558022 CORP. BENEFIT 1827823 1724923 102900 233648 5 3769879 3487835 282044 885028 14372528 13840334 532194 2676698 2676698 -2144504 true THE BOTHMER FELLOWSHIP 2 36361 SYLVAN C. AND PAMELA COLEMAN FELLOWSHIP 12 161232 CHESTER DALE FELLOWSHIP 9 187655 ANNETTE DE LA RENTA FELLOWSHIP 3 29268 THE DOUGLASS FOUNDATION FELLOWSHIP IN AMERICAN ART 2 60000 SHERMAN FAIRCHILD FOUNDATION FELLOWSHIP 4 86686 ANDREW W. MELLON ART HISTORY FELLOWSHIP 12 231679 ANDREW W. MELLON CONSERVATION FELLOWSHIP 7 200561 ANDREW W MELLON RESEARCH SCHOLARSHIP IN PHOTOGRAPH 1 45494 J. CLAWSON MILLS FELLOWSHIP 3 50000 HEGOP KEVORKIAN FELLOWSHIP 1 20000 HANNS AND BRIGITTE HORNEY SWARZENSKI FELLOWSHIP 1 5000 THEODORE ROUSSEAU FELLOWSHIP 1 6525 JANE AND MORGAN WHITNEY FELLOWSHIP 7 102333 SLIFKA FOUNDATION FELLOWSHIP 1 36104 SAMUEL H. KRESS FDN. INTERPRETIVE FELLOWSHIP 1 20833 SCHEDULE I, PART I, LINE 2 THE MUSEUM AWARDS VARIOUS GRANTS, EDUCATIONAL TRAVEL STIPENDS AND FELLOWSHIPS ON AN OBJECTIVE AND NONDISCRIMINATORY BASIS. A GRANTS COMMITTEE, COMPRISED OF MUSEUM CURATORS, CONSERVATORS, EDUCATORS, SCIENTISTS AND LIBRARIANS, MAKES SELECTIONS BASED UPON COMPETITIVE WRITTEN APPLICATIONS. THE PURPOSE OF THE GRANTS IS TO PROVIDE AN OPPORTUNITY FOR THE GRANTEES TO CONDUCT RESEARCH, EXTEND THEIR PROFESSIONAL KNOWLEDGE AND CONTRIBUTE TO THEIR RESPECTIVE FIELDS AT LARGE. RECIPIENTS OF THE EDUCATIONAL TRAVEL STIPENDS ARE EMPLOYEES OF THE MUSEUM. TO THE BEST OF THE MUSEUM'S KNOWLEDGE, NONE OF THE OTHER RECIPIENTS OF THE GRANTS OR FELLOWSHIPS ARE RELATED TO ANY PERSON SUCH AS A TRUSTEE, AN OFFICER, OR A KEY EMPLOYEE OF THE MUSEUM. EVERY GRANTEE IS ASSIGNED A SPECIFIC SUPERVISOR AT THE START OF THEIR FELLOWSHIP PERIOD. THE SUPERVISOR IS EITHER A CURATOR, CONSERVATOR OR SCIENTIST FROM THE DEPARTMENT HOSTING THE INDIVIDUAL SCHOLAR. THE SCHOLAR AND SUPERVISOR ARE IN CONTACT THROUGHOUT THE YEAR AND DISCUSS ALL OF THE DETAILS OF THE GRANTEE'S RESEARCH WORK. IN ADDITION, THE ACADEMIC PROGRAMS OFFICE WHICH IS RESPONSIBLE FOR ALL OF THE FELLOWS REQUIRES PERIODIC UPDATES ON THE INDIVIDUALS' RESEARCH. X X true true X X X X X X true true false true false false false false false THOMAS P CAMPBELL 640697 0 0 0 160103 0 0 0 128935 0 929735 0 0 0 EMILY K RAFFERTY 617037 0 0 0 182524 0 5756 0 48689 0 854006 0 62500 0 OLENA PASLAWSKY 403008 0 0 0 2322 0 0 0 40448 0 445778 0 0 0 HAROLD HOLZER 351052 0 0 0 44964 0 0 0 49199 0 445215 0 0 0 SUZANNE BRENNER 425422 0 202308 0 19642 0 424385 0 49199 0 1120956 0 148401 0 J NICHOLAS CAMERON 247681 0 0 0 759663 0 2340 0 48646 0 1058330 0 0 0 SHARON H COTT 348824 0 0 0 35310 0 0 0 48550 0 432684 0 0 0 BRADLEY L KAUFFMAN 384170 0 0 0 2442 0 0 0 35544 0 422156 0 0 0 PHILIP T VENTURINO 242231 0 0 0 39141 0 0 0 34546 0 315918 0 0 0 NINA MCN DIEFENBACH 288721 0 0 0 47297 0 0 0 49230 0 385248 0 0 0 DORALYNN PINES 170358 0 0 0 78249 0 586377 0 48814 0 883798 0 0 0 CARRIE R BARRATT 161103 0 0 0 22798 0 0 0 35986 0 219887 0 0 0 MAHRUKH TARAPOR 355806 0 0 0 246554 0 280699 0 43327 0 926386 0 0 0 DEBRA A MCDOWELL 240628 0 0 0 19624 0 0 0 40447 0 300699 0 0 0 ELYSE TOPALIAN 202037 0 0 0 36092 0 0 0 42098 0 280227 0 0 0 PHILIPPE DE MONTEBELLO 20000 0 0 0 471082 0 0 0 44072 0 535154 0 0 0 J KENT LYDECKER 6519 0 0 0 572359 0 0 0 25872 0 604750 0 0 0 KEITH R CHRISTIANSEN 224122 0 0 0 830397 0 0 0 46215 0 1100734 0 0 0 JEFFREY DALY 113194 0 0 0 613760 0 0 0 43730 0 770684 0 0 0 LAUREN MESERVE 315339 0 147331 0 486 0 341294 0 40051 0 844501 0 107800 0 J KEN MOORE 146074 0 0 0 469006 0 0 0 32770 0 647850 0 0 0 LINDA M SYLLING 197888 0 0 0 741679 0 0 0 32904 0 972471 0 0 0 SCHEDULE J, PART I, LINE 1A TAX INDEMNIFICATION - THE ASSOCIATE DIRECTOR FOR EXHIBITIONS/DIRECTOR OF INTERNATIONAL AFFAIRS, GENEVA OFFICE, MAHRUKH TARAPOR, RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS RELATED TO CERTAIN EXPENSES REIMBURSED BY THE MUSEUM. THIS GROSS-UP WAS REVIEWED BY AN OUTSIDE COMPENSATION CONSULTANT AND MADE PURSUANT TO WRITTEN APPROVAL BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. PERSONAL HOUSING - FOR CALENDAR YEAR 2009, THE MUSEUM PROVIDED A HOUSING ALLOWANCE TO THE PRESIDENT, EMILY RAFFERTY. THIS ALLOWANCE WAS TREATED AS TAXABLE COMPENSATION. COMMENCING IN SEPTEMBER 2009, THE MUSEUM PROVIDED THE DIRECTOR, THOMAS P. CAMPBELL, WITH A RESIDENCE THAT HE WAS REQUIRED TO LIVE IN AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE MUSEUM. SCHEDULE J, PART I, LINE 4A THE FOLLOWING PERSONS RECEIVED SEPARATION PAY BASED ON THEIR YEARS OF SERVICE WITH THE MUSEUM IN CALENDAR 2009: J. N. CAMERON - $598,400; JEFFREY DALY - $501,577; J. KENT LYDECKER - $428,041. THE FOLLOWING PERSONS RECEIVED SEPARATION PAY BASED ON THEIR YEARS OF SERVICE WITH THE MUSEUM IN CALENDAR 2010: DORALYNN PINES - $586,377; MAHRUKH K. TARAPOR - $280,699. SCHEDULE J, PART I, LINE 4B THE FOLLOWING PERSONS PARTICIPATED IN OR RECEIVED PAYMENTS FROM A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: THOMAS P CAMPBELL - $11,200; HAROLD HOLZER - $41,400; SUZANNE BRENNER - $18,400; SHARON H COTT - $34,500; PHILIP T VENTURINO - $34,500; NINA MCN DIEFENBACH - $46,000; DEBRA A MCDOWELL - $18,400; ELYSE TOPALIAN - $35,100; CARRIE R BARRATT - $21,210; THE FOLLOWING PERSONS VESTED AND RECEIVED PAYMENT FROM A NON-QUALIFIED RETIREMENT PLAN ESTABLISHED IN 1989 FOR STAFF WHO COMPLETED TEN YEARS OF SERVICE AS OF JUNE 30, 1987: KEITH R CHRISTIANSEN - $827,217; LINDA M SYLLING - $738,915; J KEN MOORE - $466,750 SCHEDULE J, PART I, LINE 5A PURSUANT TO THE MUSEUMS INCENTIVE COMPENSATION PLAN FOR INVESTMENT PURSUANT TO THE MUSEUM'S INCENTIVE COMPENSATION PLAN FOR INVESTMENT STAFF, MS. BRENNER RECEIVED A BONUS PAYMENT OF $202,308 WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN B. MS. MESERVE ALSO RECEIVED A BONUS PAYMENT OF $147,331 WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN B. SCHEDULES J-1 AND J-2 DURING CALENDAR YEAR 2009, CARRIE R. BARRATT SERVED AS CURATOR FROM JANUARY 1 THROUGH SEPTEMBER 7, 2009 AND ASSOCIATE DIRECTOR FOR COLLECTIONS AND ADMINISTRATION AS OF SEPTEMBER 8, 2009. SCHEDULE J-1 THOMAS P. CAMPBELL AND EMILY K. RAFFERTY ARE EX-OFFICIO TRUSTEES. TRUST FOR CULTURAL RESOURCES OF THE CITY OF NY 911882413 649717NP6 2006-12-01 65000000 PARTIAL FUNDING OF CAPITAL PRO false false TRUST FOR CULTURAL RESOURCES OF THE CITY OF NY 911882413 649717NQ4 2006-12-01 65000000 PARTIAL FUNDING OF CAPITAL PRO false false 65000000 795690 64204310 2008 false false true true 65000000 795690 64304310 2008 false false true true false false true false true 0.00000 0.00000 0.00000 true false false true false true 0.00000 0.00000 0.00000 true false true false NA false NA false true false true false NA false NA false true CHILTON INVESTMENT COMPANY INC SEE SCHEDULE O. 1138035 MANAGEMENT FEE false X 96 0 X 2 0 X 0 X 135 8886420 MKT VALUE- GIFT DATE X INDEMNITY 1 1022692 BOOK VALUE 61 false true true SCHEDULE M, PART II LINE 32B: THE MUSEUM MAY, FROM TIME TO TIME, SELL ART WORKS ACQUIRED AS NON-CASH CONTRIBUTIONS THROUGH THIRD PARTIES SUCH AS PUBLIC AUCTION HOUSES, PRIVATE DEALERS, OR INDIVIDUALS. IN EACH CASE THE MUSEUM ENTERS INTO A CONTRACT OR AGREEMENT WITH THE THIRD PARTY CONDUCTING OR PARTICIPATING IN THE SALE AND ADHERES TO ITS OWN PUBLISHED POLICY REGARDING SUCH SALES AS WELL AS APPLICABLE IRS LAWS AND STANDARDS OF ACCOUNTING. IF STOCK IS DONATED, THE MUSEUM SELLS IT AS SOON AS POSSIBLE AND USES THE RELATED CASH AS REQUESTED BY THE DONOR. LINE 33: IN ACCORDANCE WITH FASB'S SFAS 116, THE MUSEUM DOES NOT TREAT DONATIONS SUCH AS WORKS OF ART AS REVENUE OR CAPITALIZE ITS COLLECTIONS BECAUSE THEY ARE USED TO SUPPORT ITS NON-PROFIT EDUCATIONAL MISSION, AND, SHOULD THE PROPERTY BE SOLD, PROCEEDS FROM THE SALE WOULD BE USED SOLELY TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. THESE ACCOUNTING STANDARDS ARE ALSO ENDORSED BY THE AMERICAN ASSOCIATION OF MUSEUMS AND ASSOCIATION OF ART MUSEUM DIRECTORS, OF WHICH THE MUSEUM IS A MEMBER. PART III MISSION AND PROGRAM SERVICE ACCOMPLISHMENTS THE MISSION OF THE METROPOLITAN MUSEUM OF ART IS TO COLLECT, PRESERVE, STUDY, EXHIBIT, AND STIMULATE APPRECIATION FOR AND ADVANCE KNOWLEDGE OF WORKS OF ART THAT COLLECTIVELY REPRESENT THE BROADEST SPECTRUM OF HUMAN ACHIEVEMENT AT THE HIGHEST LEVEL OF QUALITY, ALL IN THE SERVICE OF THE PUBLIC AND IN ACCORDANCE WITH THE HIGHEST PROFESSIONAL STANDARDS. THE METROPOLITAN MUSEUM OF ART WAS FOUNDED ON APRIL 13, 1870 BY A GROUP OF CIVIC LEADERS, ART COLLECTORS, AND PHILANTHROPISTS. THE PREMISE ON WHICH THE MUSEUM WAS FOUNDED IS "FOR THE PURPOSE OF ESTABLISHING AND MAINTAINING IN NEW YORK CITY A MUSEUM AND LIBRARY OF ART, OF ENCOURAGING AND DEVELOPING THE STUDY OF THE FINE ARTS, AND THE APPLICATION OF ARTS TO MANUFACTURE AND PRACTICAL LIFE, OF ADVANCING THE GENERAL KNOWLEDGE OF KINDRED SUBJECTS, AND, TO THAT END, OF FURNISHING POPULAR INSTRUCTION." THE MUSEUM HAS SINCE BECOME THE PREEMINENT CULTURAL INSTITUTION IN THE WESTERN HEMISPHERE, SERVING A PUBLIC THAT EXTENDS FAR BEYOND NEW YORK CITY TO ALL THE UNITED STATES AND, INDEED, THE WORLD. IT RANKS AS NEW YORK'S PREMIER TOURIST ATTRACTION, WITH SIXTY-FOUR PERCENT OF ITS NEARLY 5.2 MILLION ANNUAL VISITORS FROM OUTSIDE THE TRI-STATE AREA. THE MUSEUM SERVES ALL AGE GROUPS, FROM PRE-SCHOOL CHILDREN TO SENIOR CITIZENS, AND MAINTAINS A BROAD RANGE OF EDUCATIONAL AND OUTREACH PROGRAMS. PART III (CONTINUED) THE MUSEUM'S COLLECTIONS COMPRISE MORE THAN TWO MILLION WORKS OF ART FROM ANCIENT, MEDIEVAL, AND MODERN TIMES AND FROM ALL AREAS OF THE WORLD. THEY OFFER A SURVEY OF CONSIDERABLE BREADTH OF ART FROM ANCIENT CIVILIZATIONS OF ASIA, AFRICA, SOUTH AMERICA, THE PACIFIC ISLANDS, EGYPT, THE NEAR EAST, AND GREECE AND ROME, TO THE PRESENT TIME. THE MUSEUM ALSO POSSESSES COLLECTIONS OF EUROPEAN PAINTINGS, MEDIEVAL ART AND ARCHITECTURE, ARMS AND ARMOR, PRINTS, PHOTOGRAPHS, DRAWINGS, COSTUMES, MUSICAL INSTRUMENTS, SCULPTURE, AND DECORATIVE ARTS FROM THE RENAISSANCE TO THE PRESENT, AS WELL AS ONE OF THE FOREMOST COLLECTIONS OF AMERICAN ART IN THE WORLD. THE MUSEUM MAINTAINS ONE OF THE MOST COMPREHENSIVE ART AND ARCHITECTURE LIBRARIES IN THE UNITED STATES. THE COLLECTIONS ARE MAINTAINED FOR PUBLIC EXHIBITION, EDUCATION, AND RESEARCH IN FURTHERANCE OF PUBLIC SERVICE, RATHER THAN FOR FINANCIAL GAIN. PART III (CONTINUED) THE CURATORIAL PROGRAMS ARE SUPPORTED BY NUMEROUS SERVICES AND RESOURCES. THE DEPARTMENTS OF PAINTINGS, PAPER, OBJECTS AND TEXTILE CONSERVATION PREPARE AND REVIEW EVERY ARTWORK SELECTED FOR A NEW INSTALLATION, SPECIAL EXHIBITION OR LOAN. THIS CONSERVATION EFFORT RANKS WITH THE BEST OF THE WORLD'S MAJOR MUSEUMS. THE THOMAS J. WATSON LIBRARY AND THE IMAGE LIBRARY HOUSE VALUABLE RESEARCH MATERIAL AVAILABLE FOR CURATORIAL, EDUCATION, AND PUBLICATION PROJECTS. THE EDITORIAL DEPARTMENT OVERSEES THE PUBLICATION OF SCHOLARLY BOOKS, EXHIBITION CATALOGUES AND THE BULLETIN AND JOURNAL. PART III (CONTINUED) THE MUSEUM'S SPECIAL EXHIBITIONS PROGRAM IS EXCEPTIONALLY DIVERSE, PRESENTING ABOUT 35 SHOWS PER YEAR. THESE ARE DESIGNED TO SHED LIGHT ON A PARTICULAR ARTIST OR THEMATIC TOPIC, AND THIS YEAR THE FOLLOWING EXHIBITIONS WERE AMONG THE HIGHLIGHTS: "LOOKING IN: ROBERT FRANK'S THE AMERICANS"; "WATTEAU, MUSIC, AND THEATER"; "AMERICAN STORIES: PAINTINGS OF EVERYDAY LIFE, 1765-1915"; "ART OF THE SAMURAI: JAPANESE ARMS AND ARMOR, 1156-1868"; "SOUNDING THE PACIFIC: MUSICAL INSTRUMENTS OF OCEANIA"; "THE DRAWINGS OF BRONZINO"; "THE ART OF ILLUMINATION: THE LIMBOURG BROTHERS AND THE BELLES HEURES OF JEAN DE FRANCE, DUC DE BERRY"; "TUTANKHAMUN'S FUNERAL"; "VIENNA CIRCA 1780: AN IMPERIAL SILVER SERVICE REDISCOVERED"; "DOUG + MIKE STARN ON THE ROOF: BIG BAMBU: YOU CAN'T, YOU DON'T, AND YOU WON'T STOP"; "PICASSO IN THE METROPOLITAN MUSEUM OF ART"; AND "AMERICAN WOMAN: FASHIONING A NATIONAL IDENTITY." PART III (CONTINUED) IN ORDER TO SERVE OUR MANY AUDIENCES MORE EFFECTIVELY, THE MUSEUM CONDUCTS MONTHLY SURVEYS OF VISITORS, POLLING INDIVIDUALS AS THEY ENTER THE BUILDING TO DETERMINE GEOGRAPHIC ORIGIN, AGE, LEVEL OF EDUCATION, ETHNICITY, INCOME AND PROFESSION. NUMEROUS OTHER SURVEYS AND STUDIES ANALYZE SPECIFIC PROGRAMS. EDUCATIONAL PROGRAMMING IS THEN PLANNED TO MEET THE NEEDS AND INTERESTS OF THE VARYING CONSTITUENCIES. LAST YEAR THE MUSEUM ORGANIZED SOME 21,435 EVENTS REACHING 827,022 PEOPLE. AT THE MAIN BUILDING AND THE CLOISTERS, THE MUSEUM WELCOMED 5,724 CLASSES, REPRESENTING 203,183 STUDENTS. TEACHER TRAINING, THROUGH ONSITE AND ONLINE WORKSHOPS, AS WELL AS PRINTED AND WEB-BASED TEACHER RESOURCES, ENABLE K-12 EDUCATORS TO MORE FULLY UTILIZE THE MUSEUM'S COLLECTIONS IN THEIR CURRICULA. MOST RECENTLY, WE PUBLISHED TEACHER MATERIALS DEVOTED TO UNDERSTANDING THE CULTURES OF THE ANCIENT NEAR EAST. THIS PUBLICATION IS FREE ON REQUEST FOR ALL NYC PUBLIC SCHOOLS AND IS AVAILABLE IN PDF FORM FOR SCHOOLS WORLDWIDE. DURING THE YEAR 27,879 INDIVIDUALS PARTICIPATED IN FAMILY PROGRAMMING AND MANY MORE WERE ABLE TO ENRICH THEIR VISITS THROUGH PRINTED FAMILY GUIDES, SUCH AS PERCY JACKSON & THE OLYMPIANS AT THE MET. FAMILIES WITH CHILDREN MAY ALSO DOWNLOAD AND PRINT THESE GUIDES AT HOME IN PREPARATION FOR THEIR MET VISIT. THE MUSEUM OFFERS SPECIALLY DESIGNED PROGRAMS FOR A DEDICATED TEEN AUDIENCE: 1,663 VISITORS (AGED 13 THROUGH 18) TOOK PART IN THESE PROGRAMS. FOR GENERAL VISITORS, THE MUSEUM OFFERS A COMPREHENSIVE SERIES OF LECTURES, GALLERY TALKS, AND GUIDED TOURS IN NUMEROUS LANGUAGES THROUGHOUT THE DAY, MOST OF WHICH ARE FREE WITH MUSEUM ADMISSION. LAST YEAR, 134,915 PEOPLE PARTICIPATED IN GUIDED GALLERY EXPERIENCES, AND 71,528 ATTENDED LECTURES. THE MUSEUM IS COMMITTED TO REACHING OUT TO POPULATIONS THROUGHOUT THE NEW YORK CITY COMMUNITY WHO MAY NOT BE FAMILIAR WITH THE INSTITUTION. OUTREACH TO NEW AUDIENCES IS FULLY INTEGRATED INTO THE PLANNING, AND BRINGS THESE GROUPS TO THE MUSEUM FOR TAILORED PROGRAMS IN CLASSROOMS AND GALLERIES. THE MUSEUM ALSO OFFERS A FULL RANGE OF PROGRAMS FOR VISITORS WITH VISION, HEARING, LEARNING, AND MOBILITY IMPAIRMENTS, AS WELL AS FOR THOSE WITH DEMENTIA AND THEIR CAREGIVERS. THESE PROGRAMS INCLUDE A "TOUCH COLLECTION" FOR THE SIGHT-IMPAIRED, INFRARED SOUND ENHANCEMENT SYSTEMS AND SIGN LANGUAGE INTERPRETATION FOR THE HEARING IMPAIRED, AND FAMILY PROGRAMS FOR DEVELOPMENTALLY DISABLED VISITORS AND THEIR FAMILIES. PART III (CONTINUED) DESPITE THE EVER-INCREASING CHALLENGE TO MEET OPERATING NEEDS, THE MUSEUM IS COMMITTED TO FINDING WAYS TO BE MORE RESPONSIVE TO THE INTERESTS OF ITS AUDIENCE. IN THE LAST FISCAL YEAR, APPROXIMATELY 37% OF VISITORS TO THE MUSEUM WERE FROM OTHER COUNTRIES, THUS, AS THE NUMBER OF NON-ENGLISH SPEAKING VISITORS INCREASES, PROVIDING SERVICES TO MEET THEIR NEEDS BECOMES EVER MORE IMPORTANT. IN RESPONSE, THE MUSEUM NOW OFFERS A FOREIGN VISITORS INFORMATION DESK, AUDIO-GUIDED TOURS AND AN INTRODUCTORY BROCHURE IN TEN LANGUAGES, IN ADDITION TO MULTI-LINGUAL WALKING TOURS AND GALLERY TALKS. PART III (CONTINUED) THE MUSEUM CONTINUES TO REACH AN INCREASINGLY WIDE AUDIENCE THROUGH ITS WEBSITE. WE PRODUCE ENTERTAINING INTERACTIVE FEATURES THAT HELP CHILDREN DEVELOP ANALYTICAL AND READING SKILLS THROUGH THE PRISM OF THE MUSEUM'S COLLECTION. THIS YEAR WE PRODUCED TWO NEW FEATURES FOR CHILDREN: THE METROPOLITAN MUSEUM OF ART SING-ALONG: CZANNE'S APPLES, THE FIRST IN A NEWLY CREATED SERIES THAT FAMILIARIZES YOUNG CHILDREN (AGES THREE THROUGH SEVEN) WITH PAINTINGS IN THE MUSEUM'S COLLECTION WHILE THEY REPEAT SIMPLE LYRICS ABOUT CHILD-FRIENDLY SUBJECTS; AND MARDUK, KING OF THE GODS: A STORY OF ANCIENT MESOPOTAMIA, AN ANIMATED STORYBOOK (FOR AGES SEVEN THROUGH TWELVE), WHICH FOCUSES ON AN AREA OF THE WORLD WITH WHICH CHILDREN ARE FAMILIAR THROUGH SOCIAL STUDIES CURRICULA. THE REVENGE OF MICHIZANE'S ANGRY SPIRIT MAKES AN ANCIENT JAPANESE PICTURE SCROLL ACCESSIBLE TO TODAY'S TEENS (AS WELL AS ADULTS) THROUGH THE ADDITION OF SOUND AND AN ACTIVITY THAT RELATES IT TO A MODERN LITERARY FORM, THE GRAPHIC NOVEL. THE HEILBRUNN TIMELINE OF ART HISTORY, WHICH AVERAGES 30,000 UNIQUE VISITORS A DAY, CONTINUES TO EXPAND WITH NEW ART HISTORICAL ESSAYS AND ADDITIONAL ILLUSTRATIONS OF THE MUSEUM'S WORKS OF ART. THOUSANDS OF PEOPLE EXPERIENCE A RANGE OF MUSEUM PROGRAMS ONLINE THROUGH OUR ITUNES AND YOUTUBE CHANNELS, WHERE WE POST VIDEOS, AUDIO FILES, AND OTHER DOCUMENTATION OF MUSEUM PROGRAMS. PART III (CONTINUED) THE MUSEUM'S PERMANENT COLLECTIONS ARE CONTINUOUSLY ENHANCED THROUGH NEW INSTALLATIONS AND CAPITAL PROJECTS. AFTER AN EIGHT-MONTH REFURBISHMENT, THE METROPOLITAN REOPENED THE ANDR MERTENS GALLERIES FOR MUSICAL INSTRUMENTS, SHOWCASING ITS RENOWNED HOLDINGS IN THIS AREA. MUSEUM VISITORS CAN NOW ALSO ENJOY THE RECENTLY RESTORED FOUNTAINS ALONG THE MUSEUM'S FIFTH AVENUE ENTRANCE. LOOKING AHEAD, THE FIFTH AVENUE PLAZA WILL UNDERGO A FULL RENOVATION, INCLUDING A REDESIGN OF THE FOUNTAINS AND SURROUNDING SPACES. THE RENOVATION OF THOMAS J. WATSON LIBRARY'S BOOK CONSERVATION LABORATORY, WHICH INCLUDES THE CONSTRUCTION OF A NEW MEZZANINE SPACE AND THE REDESIGN OF THE MAIN FLOOR, WILL BE COMPLETED THIS WINTER. MAJOR PROGRESS HAS BEEN MADE ON THE EXTENSIVE RENOVATION OF THE FIFTEEN GALLERIES DEVOTED TO THE DEPARTMENT OF ISLAMIC ART'S COLLECTIONS, INCLUDING THE CONSERVATION AND REINSTALLATION OF THE DAMASCUS ROOM AND THE SPANISH CEILING, AS WELL AS INSTALLATION OF THE STONE FLOOR. THESE GALLERIES ARE SCHEDULED TO OPEN IN OCTOBER 2011. ALSO NEARING COMPLETION IS THE COMPREHENSIVE RENOVATION OF THE AMERICAN WING. OVER 10 YEARS IN THE MAKING, THIS PROJECT WILL CULMINATE WITH THE REOPENING OF THE GALLERIES FOR PAINTINGS AND SCULPTURE IN JANUARY 2012. PART VI, LINE 11 PROCESS THE ORGANIZATION USES TO REVIEW THE FORM 990 THE MUSEUM'S FORM 990, INCLUDING REQUIRED SCHEDULES AND SUPPORTING DOCUMENTATION, IS INITIALLY COMPILED BY THE MUSEUM'S CONTROLLER'S OFFICE PRIMARILY RELYING ON THE MUSEUM'S GENERAL LEDGER, AUDITED FINANCIAL STATEMENTS AND OTHER FINANCIAL SYSTEMS. THE MUSEUM'S CONTROLLER, CHIEF FINANCIAL OFFICER, GENERAL COUNSEL, AND EXTERNAL TAX ADVISORS PARTICIPATE IN A SERIES OF DETAILED REVIEWS OF THE FORM 990. THE FORM 990 IS ALSO REVIEWED BY THE MUSEUM'S SENIOR MANAGEMENT, INCLUDING THE MUSEUM'S DIRECTOR AND PRESIDENT, THE AUDIT COMMITTEE OF THE MUSEUM'S BOARD OF TRUSTEES, AND EXTERNAL LEGAL COUNSEL. A COPY IS PROVIDED TO EACH MEMBER OF THE BOARD OF TRUSTEES PRIOR TO FILING THE RETURN. THE MUSEUM'S EXTERNAL TAX ADVISORS FILE THE FORM 990 ELECTRONICALLY WITH THE INTERNAL REVENUE SERVICE. PART VI, LINE 12 CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS, THE MUSEUM SEEKS TO ENSURE COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY BY SENDING RELEVANT WRITTEN POLICIES TO SENIOR STAFF, TRUSTEES AND ADVISORY MEMBERS OF COMMITTEES OF THE BOARD OF TRUSTEES. EACH POLICY IS SENT WITH A STATEMENT, WHICH MUST BE COMPLETED, SIGNED AND RETURNED TO THE MUSEUM'S SENIOR VICE PRESIDENT, SECRETARY AND GENERAL COUNSEL. THE STATEMENT REQUIRES EACH INDIVIDUAL TO CONFIRM THAT HE OR SHE HAS (I) RECEIVED A COPY OF THE POLICY, (II) READ AND UNDERSTOOD THE POLICY AND (III) AGREES TO COMPLY WITH THE POLICY. THE INDIVIDUAL IS ALSO ASKED TO DISCLOSE ANY SITUATION OR AREAS OF POTENTIAL CONFLICTS OF INTEREST THAT HE OR SHE OR A MEMBER OF HIS OR HER FAMILY MAY HAVE. THE GENERAL COUNSEL'S OFFICE ENSURES ALL STATEMENTS ARE COMPLETED AND RETURNED. WHEN POTENTIAL CONFLICTS ARISE, THEY ARE INITIALLY EVALUATED BY THE GENERAL COUNSEL WITH THE ASSISTANCE OF OUTSIDE LEGAL COUNSEL IF NECESSARY. CONFLICTS ARE RESOLVED IN CONSULTATION WITH THE MUSEUM'S DIRECTOR AND PRESIDENT (FOR STAFF) AND THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE LEGAL COMMITTEE OF THE MUSEUM'S BOARD (FOR TRUSTEES, INCLUDING THE DIRECTOR AND THE PRESIDENT). IF A CONFLICT OF INTEREST IS DETERMINED TO EXIST, THE INDIVIDUAL IS PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISIONS REGARDING THE TRANSACTIONS. PART VI, LINE 15 COMPENSATION REVIEW ANNUALLY, THE MUSEUM OBTAINS A REVIEW AND APPROVAL BY AN INDEPENDENT COMPENSATION CONSULTANT AND THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES FOR THE TOTAL REMUNERATION OF ALL THE MUSEUM'S OFFICERS. PART VI, LINE 19 PUBLIC AVAILABILITY OF OTHER DOCUMENTS THE MUSEUM'S AUDITED FINANCIAL STATEMENTS ARE INCLUDED IN THE MUSEUM'S ANNUAL REPORT, WHICH IS MADE AVAILABLE TO THE PUBLIC ON THE MUSEUM'S WEBSITE. THE MUSEUM MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. PART VIII, LINE 8 FUNDRAISING EVENTS NOTE THAT THE $2,144,504 LOSS ON LINE 8(C) DOES NOT INCLUDE THE $13,840,334 OF CONTRIBUTIONS WHICH RESULTED IN A NET GAIN FROM THESE EVENTS OF APPROXIMATELY $11.7 MILLION. PART VIII, LINE 10 GROSS SALES LESS RETURNS AND ALLOWANCES NOTE THAT THE GROSS PROFIT REPORTED ON LINE 10(C) DOES NOT INCLUDE EXPENSES REPORTED ON PART IX, LINE 25. SCHEDULE G, PART I, LINE 2B DETAILS OF FUNDRAISING AGREEMENT DONOR SERVICES GROUP CONDUCTS TELEMARKETING CAMPAIGNS TO CURRENT AND LAPSED MEMBERS OF THE METROPOLITAN MUSEUM OF ART THROUGHOUT THE YEAR. THE TELEMARKETING STAFF REFERS TO A SCRIPT, WHICH IS APPROVED BY THE MEMBERSHIP DEPARTMENT, WHEN SPEAKING WITH MEMBERS. FOR FY10, 36,013 CURRENT MEMBERS WERE CONTACTED BY DONOR SERVICES GROUP REQUESTING A CONTRIBUTION TO THE MEMBERSHIP ANNUAL APPEAL; 10,046 CURRENT MEMBERS WERE CONTACTED PRIOR TO EXPIRATION REQUESTING THEM TO RENEW THEIR MEMBERSHIP; AND 9,085 LAPSED MEMBERS WERE CONTACTED REQUESTING THEM TO REJOIN THE MUSEUM. SCHEDULE K, PART III, LINES 4-6 THE MUSEUM PERFORMS A DETAILED PRIVATE BUSINESS AND UNRELATED USE CALCULATION. THE MUSEUM CALCULATED ITS PRIVATE BUSINESS AND UNRELATED USE FOR FISCAL YEAR ENDED JUNE 30, 2010 TO BE NEARLY 0% IN TAX-EXEMPT BOND FINANCED SPACE. THIS ANALYSIS EXCLUDES COSTS OF ISSUANCE. SCHEDULE L TRUSTEE RICHARD L. CHILTON, JR. IS CHAIRMAN, CEO AND CHIEF INVESTMENT OFFICER OF CHILTON INVESTMENT COMPANY, INC.