2011-05-13T16:16:46-05:00 2010-06-30 CLIFTON GUNDERSON LLP 1400 EDISON PLAZA 300 MADISON AVENU TOLEDO OH 436041587 990 2009-07-01 344434678 THE TOLEDO MUSEUM OF ART TOLE 4192558000 PO BOX 1013 TOLEDO OH 43697 CAROL J BINTZ 4192558000 2011-05-13 1 4192443711 2009 2016-02-24 21:20:13Z CAROL J BINTZ PO BOX 1013 TOLEDO OH 43697 99759799 0 X www.toledomuseum.org X 1901 OH THE MISSION OF THE TOLEDO MUSEUM OF ART IS TO INTEGRATE ART INTO THE LIVES OF PEOPLE BY MAINTAINING A WORLD-CLASS COLLECTION, DYNAMIC EXHIBITIONS AND NUMEROUS EDUCATIONAL OPPORTUNITIES WHILE MAINTAINING FREE ADMISSION FOR ALL VISITORS. 23 23 388 573 806991 -1605189 6780566 8096376 2090192 2204276 -39245344 10752835 -796768 -1941519 -31171354 19111968 71764 101830 0 8310085 7372086 0 533251 15644912 13236961 24026761 20710877 -55198115 -1598909 233524902 239109970 22532566 20810600 210992336 218299370 FOR 110 YEARS, THE TOLEDO MUSEUM OF ART HAS OFFERED FREE ADMISSION TO ONE OF THE WORLD'S GREAT ART COLLECTIONS HOUSED IN ITS GREEK REVIVAL MAIN BUILDING AND THE GLASS PAVILION. THE MUSEUM HAS AN EXTENSIVE EDUCATION PROGRAM, OFFERING CURRICULUM-BASED SCHOOL TOURS AS WELL AS ADULT AND CHILDREN'S ART CLASSES. 0 0 18334845 The Toledo Museum of Art operates and maintains art galleries, studio spaces and an art library for the benefit of the general public. This includes educational scholarship, research, conservation, documentation and presentation of a permanent collection of art totaling nearly 30,000 objects. The Museum's visitation is among the highest of American Museums per capita. 1071271 Through hands-on art experiences and activities, Community OutReach opens doors for those in our community who experience physical, mental or socio-economic disadvantages, and allows these individuals to experience the freedom of true personal expression, without judgment or criticism. At-risk children, underserved teens, adults with or suffering from illnesses all gain a sense of accomplishment, comfort and increased self-esteem through the process of artistic hands-on creation. Community OutReach embraces diversity with therapeutic and inspirational experiences, fosters valuable life skills, and encourages participants to investigate the furthest reaches of their own unique genius. 465634 The Museum organizes and presents special exhibitions of its permanent collection as well as hosting traveling exhibitions and mounting exhibitions in collaboration with other art museums. The Museum offers cultural activities associated with these exhibitions including musical programs, hands-on activities, lectures, etc. that are available to the general public, generally without charge. 19871750 1 1 0 0 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 86 0 1 388 1 1 1 0 0 0 0 1 1 0 0 0 0 0 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 OH X X TIMOTHY SZYMANSKI 4192558000 2445 MONROE STREET TOLEDO OH 43697 Elizabeth Brady 1.00 X X 0 0 0 Steven R Coffin 1.00 X X 0 0 0 Cynthia B Thompson 1.00 X X 0 0 0 John S Szuch 1.00 X X 0 0 0 George L Chapman 1.00 X X 0 0 0 DENNIS G Johnson 1.00 X 0 0 0 MICHAEL J ANDERSON 1.00 X 0 0 0 Richard P Anderson 1.00 X 0 0 0 Darryl F Allen 1.00 X 0 0 0 William W Boeschenstein 1.00 X 0 0 0 Bruce C Carver 1.00 X 0 0 0 Molly P Chiles 1.00 X 0 0 0 Charles E Dana 1.00 X 0 0 0 Sara Jane DeHoff 1.00 X 0 0 0 Thomas B Donnell 1.00 X 0 0 0 Helen H Emmert 1.00 X 0 0 0 Nancy R Fairhurst 1.00 X 0 0 0 Judge Robert V Franklin 1.00 X 0 0 0 James A Hoffman 1.00 X 0 0 0 BILLIE Johnson 1.00 X 0 0 0 George M Jones III 1.00 X 0 0 0 Barbara Kaplin 1.00 X 0 0 0 Rita Kern 1.00 X 0 0 0 Harley Kripke 1.00 X 0 0 0 Robert J Lanigan 1.00 X 0 0 0 Helen McMaster 1.00 X 0 0 0 Carol Orser 1.00 X 0 0 0 Kim Penn 1.00 X 0 0 0 Mary Ellen Pisanelli 1.00 X 0 0 0 Susan R Reams 1.00 X 0 0 0 Richard Reynolds 1.00 X 0 0 0 George B Saxe 1.00 X 0 0 0 Duane Stranahan Jr 1.00 X 0 0 0 Edward F Weber 1.00 X 0 0 0 Georgia Welles 1.00 X 0 0 0 David K Welles Jr 1.00 X 0 0 0 John P Williamson 1.00 X 0 0 0 Sandra L Wiseley 1.00 X 0 0 0 Frederic D Wolfe 1.00 X 0 0 0 PATRICIA TIPTON 1.00 X 0 0 0 DEANNA RADELOFF 1.00 X 0 0 0 Don Bacigalupi 40.00 X 276013 0 12390 Rod Bigelow 40.00 X 120681 0 16740 396694 0 29130 2 0 1 0 0 1525153 6571223 644463 8096376 TUITION AND RELATED FE 711300 928173 928173 FACILITY FEES 711300 800233 2272 797961 PERISTYLE SERVICE FEES 711300 167901 167901 PARKING LOT INCOME 711300 152834 152834 Glass STUDIO 711300 108565 108565 46570 46570 2204276 4102565 4102565 86736583 160 80082153 4320 6654430 -4160 6650270 6650270 801651 561358 240293 9030 231263 OTHER INCOME FROM PASS 900099 20495 20495 NET CAPITAL GAINS FROM 900099 -2202307 -2202307 -2181812 19111968 1406315 806991 8802286 101830 101830 306771 282657 7762 16352 5377997 4955276 136053 286668 599662 552530 15171 31961 561474 517343 14205 29926 526182 484824 13312 28046 1136181 1078159 52567 5455 157500 127386 10442 19672 905807 896568 7065 2174 65303 58773 3265 3265 789392 789392 4203525 4203525 173887 158675 15212 ART PURCHASES & EXPENSE 4030137 4030137 0 0 MAINTENANCE & REPAIRS 577606 576439 1167 0 MISCELLANEOUS 408225 371550 23273 13402 PROGRAMS 235320 235320 0 0 PUBLICITY & PROMOTION 189460 189460 0 0 364618 261906 6382 96330 20710877 19871750 305876 533251 11030 10980 2268307 2196209 130950 1306901 1150213 539956 233476 233235 429046 465813 104847312 47157451 61589713 57689861 69450394 76742204 49809182 48697055 48452591 51227756 233524902 239109970 6167413 4764009 11475000 10795000 4890153 5251591 22532566 20810600 X 113343142 115388957 30371523 32791258 67277671 70119155 210992336 218299370 233524902 239109970 X 0 1 1 X 0 X 9099871 8614006 5725828 6780566 8096376 38316647 9099871 8614006 5725828 6780566 8096376 38316647 12839636 25477011 2922615 3094304 3751830 3615980 4102565 17487294 69975 69975 55873916 24145100 0.45600 0.56290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 96171406 5301822 11154618 121366 10062231 102444249 143851071 3657712 -38200023 69631 13067723 96171406 0.49300 0.19400 0.31300 0 0 4522130 4522130 91663202 43183395 48479807 2709073 1656065 1053008 5952907 2317991 3634916 57689861 MUTUAL FUNDS 48674722 F INVESTMENT IN OIL ROYALTIES 20200 F CSV - LIFE INSURANCE 2133 F 48697055 ACCRUED INTEREST RECEIVABLE 68286 PERPETUAL AND SPLIT INTEREST TRUST AGREEMENTS 50927051 BOND ORIGINATION COSTS 77778 DEPOSITS - FACILITIES 20000 OTHER ASSETS 134641 51227756 GIFT ANNUITIES - NON-CURRENT 267540 ACCRUED WAGES & VACATION PAY 225379 DEFERRED INCOME 44901 INTEREST RATE SWAP AGREEMENT 943524 PENSION LIABILITY 3770247 5251591 19111968 20710877 -1598909 8905943 8905943 7307034 20623227 0 20623227 -1511259 -1511259 19111968 20584010 0 20584010 126867 126867 20710877 Part III, Line 1a: Part III, line 1a: Expenditures for the purchase of works of art are expensed as purchased. Each of the objects in the art collection, which collection is of significant value, are catalogued for educational and curatorial purposes. Procedures are employed continuously to verify the condition and existence of each object in the collection. Proceeds from sales of collection objects which are no longer deemed appropriate for the Museum's art collection are to be used to acquire other objects for the collection. Gifts of works of art (amounting to $96,950 in 2010 and $553,285 in 2009) are not recorded since the Museum has adopted the policy of expensing works of art. Part XI, Line 8 - Other Adjustments: UNREALIZED GAIN (LOSS) ON INVESTMENTS: 4902954. CHANGE IN VALUE OF PERPETUAL AND SPLIT-INTEREST TRUST: 2767343. UNDISTRIBUTED NET (INCOME)/LOSS FROM PASS-THROUGH ENTITIES: 1638126. FAIR VALUE ADJUSTMENT - INTEREST RATE SWAP AGREEMENT: -78224. PROVISION FOR PENSION LIABILITY: -324256. Part XII, Line 4b - Other Adjustments: INCOME FROM PASS-THROUGH ENTITIES: -1511259. Part XIII, Line 4b - Other Adjustments: EXPENSES FROM PASS-THROUGH ENTITIES: 126867. PART X, LINE 2 FASB ASC 740-10 DESCRIBES ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES AND CREATES A SINGLE MODEL TO ADDRESS ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND CLARIFIES THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING A MINIMUM RECOGNITION THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE ON DERECOGNITION, MEASUREMENT, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE AND TRANSITION. THE ORGANIZATION ADOPTED THE REQUIREMENTS OF FASB ASC 740-10 IN 2009, BUT THE ADOPTION HAD NO IMPACT ON THE FINANCIAL STATEMENTS. 1 SUMMER 2010 SCHOLARSHIPS 38 2453 FALL 2009 SCHOLARSHIPS 6 1326 WINTER 2010 SCHOLARSHIPS 39 3185 SPRING 2010 SCHOLARSHIPS 17 1523 UNIVERSITY OF TOLEDO SCHOLARSHIPS 36 89850 Fall 2010 Scholarships 30 2875 2010 School Outreach Scholarships 6 618 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: THE SCHOLARSHIPS ISSUED BY THE MUSEUM ARE TO BE USED FOR INTERNAL ART CLASSES HELD AT THE TOLEDO MUSEUM OF ART. THE FUNDS ARE HELD IN A SEPARATE ACCOUNT UNTIL IT IS REQUESTED BY THE RECIPIENT. ONCE REQUESTED, THE FUNDS ARE PAID TO THE OPERATING FUND ON BEHALF OF THE SCHOLARSHIP RECIPIENT. REGULAR REQUIRED REPORTS ARE REVIEWED BY THE PROGRAM STAFF TO MONITOR THE GRANT FUNDS. 1 X X X X 0 0 0 0 0 0 0 0 0 Don Bacigalupi 276013 0 0 0 0 0 7045 0 5345 0 288403 0 0 0 Rod Bigelow 120681 0 0 0 0 0 6664 0 10076 0 137421 0 0 0 X 16 0 X 26 644463 MARKET QUOTE 6 0 1 0 Non Reporting of Revenue: Part I, Line 33: Schedule M, Line 33: NO VALUES WERE REPORTED ON FORM 990 PART VIII, STATEMENT OF REVENUE, LINE G, FOR WORKS OF ART BECAUSE THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. Form 990, Part VI, Section B, line 11 THE FORM 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD AND THE ORGANIZATION'S CHIEF OPERATING OFFICER AND CHIEF FINANCIAL OFFICER. Form 990, Part VI, Section B, line 12c Annually, the Board members and committe members shall report to the Audit Committee concerning all transactions and all business or professional relationships of the Museum, with any of the companies, firms or institutions or involving any of the interests amounting to more than $10,000 per year. Whenever a matter involving any conflict of interest on the part of any Director is discussed, or proposed for action, such conflict shall be disclosed to other Directors present, and the Director having such conflict shall not vote or use his or her personal influence on the matter. Form 990, Part VI, Section B, line 15 The Leadership & Governance Committee will consider all elements of compensation And rely upon comparability data showing the compensation and benefits paid by similar organizations for employees with those reported for functionally comparable and analogous positions at comparable organizations, both taxable and tax-exempt. The Leadership & Governance Committee relies on comparable data from competent internal and/or external sources. This data shall be researched and selected for similar positions among organizations of comparable scope, scale and purpose. The Leadership & Governance Committee may also consider factors such as the employee's performance, tenure, and any circumstances that distinguish the position from the positions considered in the comparability data. Form 990, Part VI, Section C, line 19 Form 990, Part VI, Section C, Line 19: ALL OF THE ABOVE DOCUMENTS ARE AVAILABLE ON REQUEST. FORM 990, PART VI, LINE 2A BASED ON THE INFORMATION THAT IS AVAILABLE TO THIS ORGANIZATION, NONE OF THE OFFICERS, DIRECTORS, TRUSTEES, OR KEY EMPLOYEES, OR HIGHEST COMPENSATED EMPLOYEES, OR HIGHEST COMPENSATED PROFESSIONAL AND OTHER INDEPENDENT CONTRACTORS ARE RELATED TO EACH OTHER THROUGH FAMILY RELATIONSHIPS. IN ADDITION, THEY DO NOT HAVE COMMON OWNERSHIP OF BUSINESSES NOR EMPLOYMENT RELATIONSHIPS WITH EACH OTHER. THESE INDIVIDUALS COULD HAVE PROFESSIONAL DEALINGS WITH EACH OTHER FROM TIME TO TIME IN THE NORMAL COURSE OF BUSINESS. HOWEVER, ANY SUCH BUSINESS DEALINGS AMONG THE SPECIFIED PARTIES WOULD NOT IMPACT THIS ORGANIZATION.