2011-11-11T15:36:03-06:00 2011-06-30 JH COHN LLP 76 BATTERSON PARK ROAD FARMINGTON CT 06032 990 2010-07-01 060653111 WADSWORTH ATHENEUM MUSEUM OF ART WADS 8602782670 600 MAIN STREET HARTFORD CT 06103 JUDITH MIHALKO 8608384065 2011-11-11 1 KIMBERLY O NARDONE 8606786000 2010 2016-03-07 17:11:31Z SUSAN TALBOTT 600 MAIN STREET HARTFORD CT 06103 24114791 0 X WWW.WADSWORTHATHENEUM.ORG X 1842 CT HOLDING ITS COLLECTION IN TRUST FOR ALL PEOPLE, THE WADSWORTH ATHENEUM IS DEDICATED TO ADVANCING AND INSPIRING EVERYONE TO EXPERIENCE AND APPRECIATE EXCELLENCE IN ART AND CULTURE. 34 34 122 349 421 0 6333568 4357841 1103560 1248748 3960445 3555148 132021 -50900 11529594 9110837 0 0 0 0 4331852 4110659 0 0 276965 6230824 6601738 10562676 10712397 966918 -1601560 102507322 112711527 1060039 937601 101447283 111773926 X HOLDING ITS COLLECTION IN TRUST FOR ALL PEOPLE, THE WADSWORTH ATHENEUM IS DEDICATED TO ADVANCING AND INSPIRING EVERYONE TO EXPERIENCE AND APPRECIATE EXCELLENCE IN ART AND CULTURE. 0 0 449282 291610 504421 TOTAL MUSEUM ATTENDANCE 101,766EXHIBITIONS EXPENSES A. MONET'S WATERLILIES: AN ARTIST'S OBSESSION $248,615B. AMERICAN MODERNS ON PAPER: MASTERWORKS FROM THE WADSWORTH ATHENEUM MUSEM OF ART $115,299C. OTHER $16,043D. C&T EXH.: THE UPHOLSTERED WOMAN & CIVIL WAR REMEMBERED $4,785E: MATRIX EXH.: THE MATRIX EFFECT $64,540 TOTAL COLLECTIONS AND EXHIBITIONS $449,282 2764765 73889 2147626 CURATING AND CURATORIAL RESEARCHTHE CURATORIAL DIVISION CARES FOR, RESEARCHES, AND DISPLAYS THE MUSEUM'S COLLECTION OF ART. THESE INCLUDE PAINTINGS, SCULPTURES, DECORATIVE ARTS (FURNITURE, GLASS, CERAMICS, METALWORK), WORKS ON PAPER, COSTUMES AND TEXTILES, AND VIDEOS, RANGING IN DATE FROM ANTIQUITY TO CONTEMPORARY AND INCLUDING WORKS FROM MOST CONTINENTS. IT IS ALSO RESPONSIBLE FOR CURATING THE EXHIBITION PROGRAM FOR THE MUSEUM, WHICH IN FY2011 COMPRISED OF THE FOLLOWING: SOL LEWITT: HARTFORD'S NATIVE SON, CLOSED AUGUST 15, 2010; AMERICAN MODERNS ON PAPER: MASTERWORKS FROM THE WADSWORTH ATHENEUM MUSEUM OF ART, OCTOBER 2, 2010 - JANUARY 17, 2011; MONET'S WATER LILIES: AN ARTIST'S OBSESSION, FEBRUARY 17 - JUNE 12, 2011; JUSTIN LOWE / MATRIX 159, CLOSED SEPTEMBER 5, 2010; KIM SCHOENSTADT / MATRIX 160, OCTOBER 7, 2010 - JANUARY 9, 2011; RASHAAD NEWSOME / MATRIX 161, FEBRUARY 3 - MAY 1, 2011; SHAUN GLADWELL / MATRIX 162, JUNE 2 - SEPTEMBER 18, 2011; THE UPHOLSTERED WOMAN PART I: WOMEN'S FASHIONS OF THE 1870S, CLOSED SEPTEMBER 12, 2010; THE UPHOLSTERED WOMAN PART II: WOMEN'S FASHIONS OF 1880-1885, NOVEMBER 10, 2010 - MARCH 20, 2011; CONNECTIONS GALLERY: AMERICAN SCHOOL FOR THE DEAF, CLOSED JULY 25, 2010; CONNECTIONS GALLERY: PEPON OSORIO: EN LA BARBERA NO SE LLORA (NO CRYING ALLOWED IN THE BARBERSHOP), 1994, AUGUST 7, 2010 - JANUARY 9, 2011; CONNECTIONS GALLERY: RASHAAD NEWSOME, FEBRUARY 3 - MAY 1, 2011; AND CONNECTIONS GALLERY: IONA ROZEAL BROWN, OPENED MAY 28, 2011.CURATORIAL RESEARCH RESULTED IN THE FOLLOWING PUBLICATIONS: PATRICIA HICKSON, "BRING THE OUTSIDE IN," IN KIM SCHOENSTADT/MATRIX 160. (WADSWORTH ATHENEUM MUSEUM OF ART, 2010); PATRICIA HICKSON, "THE HERALD, THE COMPOSER, THE CONDUCTOR," IN RASHAAD NEWSOME/MATRIX 161. (WADSWORTH ATHENEUM MUSEUM OF ART, 2011); PATRICIA HICKSON, "ON GRAVITY AND LEVITY," IN SHAUN GLADWELL/MATRIX 162. (WADSWORTH ATHENEUM MUSEUM OF ART, 2011); ERIC ZAFRAN, "MONET'S OBSESSION OBSERVED," ESSAY IN MONET'S WATER LILIES: AN ARTIST'S OBSESSION. (WADSWORTH ATHENEUM MUSEUM OF ART, 2011); ERIC ZAFRAN, "ADAM BY GOLTZIUS," IN NEW STUDIES ON OLD MASTERS: ESSAYS IN RENAISSANCE ART IN HONOR OF COLIN EISLER, (CENTRE FOR REFORMATION AND RENAISSANCE STUDIES, 2011).THE MUSEUM CURATORS, WORKING WITH THE REGISTRARS, ALSO ENGAGE IN A SIGNIFICANT LOAN PROGRAM, LENDING OBJECTS IN THE COLLECTION TO IMPORTANT AND INNOVATIVE EXHIBITIONS. IN FY2011, TWENTY-EIGHT WORKS OF ART WERE APPROVED FOR LOANS TO TWENTY-FOUR INSTITUTIONS IN THE UNITED STATES, CANADA, EUROPE, AND ASIA FOR FUTURE EXHIBITIONS. DURING FY2011, SEVENTY WORKS OF ART WERE LENT TO INSTITUTIONS IN A SIMILARLY WIDE GEOGRAPHIC AREA. SIMULTANEOUSLY, THE REGISTRARS MAINTAINED THE ANNUAL LOAN DEPOSIT PROGRAM WHICH INCLUDES HUNDREDS OF OBJECTS ON LONG-TERM LOAN TO LOCAL AND REGIONAL INSTITUTIONS SUCH AS: STATE OF CONNECTICUT, GOVERNOR'S RESIDENCE (HARTFORD); MARK TWAIN HOUSE, (HARTFORD), THE WEBB-DEANE-STEVENS MUSEUM (WETHERSFIELD); WORCESTER ART MUSEUM (WORCESTER, MA).FINALLY, CURATORS, THROUGH PURCHASE AND GIFT, ACQUIRED NEARLY ONE HUNDRED WORKS OF ART FOR THE COLLECTION, INCLUDING ONE AMERICAN PAINTING, ONE AMERICAN DECORATIVE ART OBJECT, FOUR CONTEMPORARY PAINTINGS AND ONE SCULPTURE, TWENTY-SIX CONTEMPORARY PHOTOGRAPHS, TWENTY-FIVE CONTEMPORARY PRINTS/DRAWINGS, ONE CONTEMPORARY VIDEO, NINE COSTUMES, ONE EUROPEAN PAINTING, ONE EUROPEAN SCULPTURE, AND THREE EUROPEAN DECORATIVE ART OBJECTS.CURATING AND CURATORIAL RESEARCH EXPENSE: $1,416,609ART PURCHASES:SEASCAPE WITH RUINED ARCH - CHARLES F. LACROIXCOFFEEPOT/DOMED LID/GOOSENECK SPOUT - OLIVER FILLEY SHOPECIRCA 1865 GOWN/CIRCA 1850 GOWN - R.W. OLIVER'SCORPUS OF CHRIST - PISAN SCHOOLCOMPOSITION WITH YELLOW VERTICAL - MARK MANDERSEMBROIDERED 18TH CENTURY PICTURE WAISTCOAT - FRENCHBROCADE 18TH CENTURY OPEN ROBE - PROBABLY DUTCHROSE FRIED'S NEPHEW - ALICE NEELPASTIGLIA CASKET WITH SCENES OF ROMAN HISTORY - ITALY, FERRARA, OR VENICEFOOD WARMER (VEILLEUSE) - NYPHENBURG PORCELAINFAINTING OF ARMIDE - CHARLES ANTOINE COYPELINTERCEPTOR SURF SEQUENCE - SHAUN GLADWELL TOTAL ART PURCHASES AND RELATED EXPENSES $1,348,156TOTAL CURATORIAL RESEARCH AND ART PURCHASES $2,764,765 448509 128575 301324 EDUCATIONTHIS YEAR, THE WADSWORTH ATHENEUM PRESENTED A WIDE-RANGING SCHEDULE OF PROGRAMS THAT CONNECTED ARTISTS WITH OUR COMMUNITY. OUR ONGOING LECTURES, FREE SATURDAYS FOR FAMILIES, COMMUNITY DAYS AND SUNDAY SERENADES SERIES ENGAGED MORE THAN 100 VISUAL ARTISTS, STORYTELLERS, MUSICIANS AND DANCERS IN THE GREATER HARTFORD COMMUNITY-FROM THE HARTFORD SYMPHONY ORCHESTRA TO THE HIP-HOP GROUP UNDERGROUND COALITION TO THE TRINITY SAMBA ENSEMBLE. IN 2010-2011 THE EDUCATION AND VISITOR SERVICES DEPARTMENT CONTINUED TO OFFER A BROAD VARIETY OF PROGRAMS WHILE ALSO SOLIDIFYING OUR FAMILY AND SCHOOL PROGRAMS. EDUCATION PROGRAMMING AND TOURS ACCOUNTED FOR 36.5% OF THE MUSEUM'S ANNUAL ATTENDANCE OF JUST OVER 100,000. ABOUT HALF OF THOSE VISITORS SERVED BY EDUCATION, SOME 18,000 STUDENTS, TEACHERS, FAMILIES AND ADULTS, WENT ON GUIDED TOURS WITH ONE OF OUR 95 DOCENTS. WE CONTINUED TO ENGAGE FAMILY AUDIENCES WITH MORE THAN 4,500 VISITORS ATTENDING PROGRAMMING DURING THE FIRST FULL YEAR OF FREE SATURDAYS FOR FAMILIES. ALSO COMPLETING ITS FIRST FULL YEAR OF IMPLEMENTATION WAS THE MUSEUM ON THE MOVE-SCHOOL OUTREACH, A FOURTH GRADE ART AND LITERACY OUTREACH PROGRAM DEVELOPED IN COLLABORATION WITH THE HARTFORD PUBLIC SCHOOLS SYSTEM AND IN RESPONSE TO OUR COMMUNITY'S DESIRE TO "SEE MUSEUM REPRESENTATIVES IN THE COMMUNITY." A NEW PROGRAM LAUNCHED THIS YEAR, THE TWO-PART SUMMER ART STUDIO PROGRAM. IN THE MORNINGS, AREA HIGH SCHOOL JUNIORS AND SENIORS FROM THE HARTFORD ART SCHOOL'S SUMMER HIGH SCHOOL VISUAL ARTS PROGRAM ENGAGED WITH MASTERWORKS FROM THE MUSEUM'S COLLECTION ON DOCENT-GUIDED TOURS AND PRACTICED VARIOUS DRAWING TECHNIQUES IN THE GALLERIES. THE MUSEUM PROVIDED FOUR HARTFORD HIGH SCHOOL STUDENTS WITH SCHOLARSHIPS TO ATTEND THE PROGRAM INCLUDING TUITION, SUPPLIES, TRANSPORTATION AND A STIPEND. IN THE AFTERNOON HOURS, YOUTH FROM SIX HARTFORD COMMUNITY ORGANIZATIONS PARTICIPATED IN DOCENT-LED TOURS OF THE MUSEUM FOLLOWED BY AN ART-MAKING ACTIVITY WITH HARTFORD ART TEACHER, STUART BECKFORD. FREE ADMISSION, TOURS AND BUSING WERE OFFERED TO ALL GROUPS. THE GOAL OF THIS PROGRAM IS TO CREATE A TRANSFORMATIVE EXPERIENCE FOR MORE AREA YOUTH SO THEY SEEK OUT THE ARTS IN THEIR ONGOING EDUCATION. 4810958 1111676 5961696 OTHER PROGRAM EXPENSES: FUNDED ACTIVITIES $155,550SECURITY, BUILDING $2,642,009MARKETING & PUBLIC RELATIONS $784,385CAFE, SHOP AND THEATER $1,137,580MEMBERSHIP $91,434 TOTAL OTHER PROGRAM EXPENSES $4,810,958 4810958 1111676 5961696 8473514 1 1 0 0 0 0 1 1 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 71 0 1 122 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 34 34 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT NY X X JUDITH MIHALKO 8602782670 600 MAIN STREET HARTFORD CT 06103 SUSAN TALBOTT 35.00 X X X X 295279 0 0 JUDITH MIHALKO 35.00 X X 90177 0 0 COLEMAN H CASEY X X 0 0 0 THOMAS MCEACHIN X 0 0 0 CHERYL A CHASE X X 0 0 0 DAVID W DANGREMOND X X 0 0 0 JANET FLAGG RAWLINS X 0 0 0 THOMAS J ANATHAN X 0 0 0 DUFFIELD ASHMEAD IV X 0 0 0 HOWARD L CARVER X 0 0 0 EMILIE DE BRIGARD X 0 0 0 GUALBERTO RUANO X 0 0 0 ESTHER PRYOR X 0 0 0 DIANE B CLOUD X 0 0 0 SUSAN A ROTTNER X X 0 0 0 ANITA FERRANTE X 0 0 0 FREDERICK COPELAND X 0 0 0 MARY C FOX X 0 0 0 JEFFREY G MARSTED X 0 0 0 JOANNE EUDY X 0 0 0 KATHLEEN O'CONNOR X 0 0 0 HY J SCHWARTZ X X 0 0 0 EDWARD LEWIS X 0 0 0 HENRY R MARTIN X X 0 0 0 KAREN CRONIN WHEAT X 0 0 0 LINDA CHEVERTON WICK X 0 0 0 HENRY M ZACHS X 0 0 0 LORI MCGEE X 0 0 0 TIMOTHY MCLAUGLIN X 0 0 0 LAURA R HARRIS X 0 0 0 MARGARET MV PRESTON X 0 0 0 PAMELA TROTMAN REID X 0 0 0 JAMES ROBB X 0 0 0 MATT SCHAEFER X 0 0 0 TERI TROTTER X 0 0 0 BONNIE CASTELLANI X 0 0 0 GREG DEAVENS X 0 0 0 ROBERT MEAD X 0 0 0 THEODORE SERGI X 0 0 0 JAY MORTON X 0 0 0 PEDRO SEGARRA X 0 0 0 385456 0 0 1 0 1 0 CONSIGLI CONSTRUCTION 72 SUMNER STREET MILFORD MA 01757 CONSTRUCTION 10133473 AETNA PO BOX 804735 CHICAGO IL 606804108 HEALTH INSURANCE 498606 BESTECH INC OF CT 25 PINNEY STREET ELLINGTON CT 060293812 INSURANCE 252327 SMITH EDWARDS ARCHITECTS 179 ALLYN STREET 505 HARTFORD CT 061031421 UTILITY 197975 MASTERPIECE INTERNATIONAL LTD 39 BROADWAY 1410 NEW YORK NY 100063003 PRINTING & DISTRIBUTION 158730 9 370109 346086 210014 3431632 4357841 EXHIBITION FEES 900099 513052 513052 SALE OF MUSEUM MERCHAN 453220 459982 459982 ADMISSION REVENUE 900099 275714 275714 1248748 2189329 2189329 15955840 269785 14859806 1096034 269785 1365819 269785 1096034 84348 346086 135669 -51321 -51321 8900 8479 421 421 9110837 1518533 421 3234042 463155 176941 133959 152255 2887668 2438580 410996 38092 433593 357521 67214 8858 326243 249811 56207 20225 534461 412443 107112 14906 1169186 1086591 82595 1794189 1476544 290446 27199 540430 540430 ACQUISITION OF ARTWORK 1348156 1348156 FEES 413529 181130 228197 4202 POSTAGE 358847 337056 18635 3156 PRINTING 297721 263522 26127 8072 COST OF GOODS SOLD 145219 145219 10712397 8473514 1961918 276965 5778175 2022236 11660414 4718080 76439 14825 502232 490335 27995521 12500756 7392200 15494765 40835945 45085447 36257239 44883848 4678 1991 102507322 112711527 802957 665529 257082 272072 1060039 937601 X 21891360 31746162 48448465 48808424 31107458 31219340 101447283 111773926 102507322 112711527 X -1601560 11928203 X X 0 1 1 X 1 1 X 6491385 7725806 19493977 6333568 4357841 44402577 6491385 7725806 19493977 6333568 4357841 44402577 19000748 25401829 2289167 2719432 3038236 1866791 2189329 12102955 983 101 -438 -283 421 784 40250 48600 125508 100578 93248 408184 56914500 9172832 0.44630 0.47390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 2 0.00 2 1 1 0 1.00 0 1 X X X X X EDUCATION 0 76719151 923226 15433221 3858818 252140 88964640 71290175 1922555 9186836 5465291 230344 76719151 89377311 1170213 -13348884 5689089 219376 71290175 0.17000 0.35000 0.48000 1 0 13313272 9203893 4109379 3559942 3296863 263079 11122307 11122307 15494765 DEBT SECURITIES 29763412 F INVESTMENTS HELD IN TRUST BY OTHERS 460916 C INVESTMENTS IN REAL ESTATE 1470014 C SHORT TERM INVESTMENTS 13189506 C 44883848 9110837 10712397 -1601560 11928203 11928203 10326643 21241777 11928203 58589 144148 12130940 9110837 0 9110837 10915134 58589 144148 202737 10712397 0 10712397 DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: THE WADSWORTH ATHENEUM MUSEUM OF ART REFLECTS EXPENDITURES RELATING TO ITS EASEMENTS IN ITS OPERATING REVENUE AND EXPENDITURE REPORT. EXPENDITURES ARE BUDGETED IN THE APPROPRIATE FISCAL YEARS. PART III, LINE 1A: IN ACCORDANCE WITH STATEMENT OF FINANCIAL ACCOUNTING STANDARDS NO. 116, ACCOUNTING FOR CONTRIBUTIONS RECEIVED AND CONTRIBUTIONS MADE, COLLECTIONS OF WORKS OF ART ACQUIRED THROUGH DONATIONS SINCE THE MUSEUM'S INCEPTION ARE NOT RECOGNIZED AS ASSETS IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS DECREASES IN TEMPORARILY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE UNRESTRICTED NET ASSET CLASS. MUSEUM POLICY LIMITS THE USE OF PROCEEDS FROM DEACCESSIONS OR INSURANCE SOLELY FOR ACQUISITION OF OTHER ART OBJECTS. PART III, LINE 4: THE WADSWORTH ATHENEUM MUSEUM OF ART HOUSES A COLLECTION OF MORE THAN 45,000 OBJECTS INCLUDING PAINTINGS, SCULPTURES, DECORATIVE ARTS, WORKS ON PAPER, COSTUMES AND TEXTILES, AND VIDEOS, RANGING IN DATE FROM ANTIQUITY TO CONTEMPORARY AND INCLUDING WORKS FROM MOST OF THE CONTINENTS. THE WADSWORTH ATHENEUM IS ONE OF CONNECTICUT'S PRINCIPAL CULTURAL AND CIVIC INSTITUTIONS AND A MUSEUM OF INTERNATIONAL SIGNIFICANCE. THE MUSEUM IS A NOT FOR PROFIT ORGANIZATION THAT ENSURES THE PUBLIC HAS ACCESS TO ARTWORK THAT IS ARTISTICALLY AND HISTORICALLY SIGNFICANT. IN ADDITION TO PERMANENT COLLECTION DISPLAYS, THE ATHENEUM PRESENTS SPECIAL EXHIBITIONS OF LOANED WORKS. A WIDE RANGE OF INTERPRETIVE AND EDUCATIONAL PROGRAMS FOR CHILDREN, FAMILIES, AND ADULTS, PUBLIC AND SCHOOL TOURS, ARE OFFERED REGULARLY. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR THE USE OF OPERATIONAL, EXHIBITION, AND PROGRAMMING SUPPORT, AS WELL AS THE PURCHASE OF WORKS OF ART. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE MUSEUM IS A PRIVATE NOT-FOR-PROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS AN ORGANIZATION GENERALLY EXEMPT FROM INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE MUSEUM ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH THE INCOME TAX TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION (FASB ASC). THE MUSEUM FILES FEDERAL AND CONNECTICUT STATE INCOME TAX RETURNS, WHICH REPRESENT THE MAJOR TAX JURISDICTIONS OF THE MUSEUM. FEDERAL AND STATE TAX YEARS 2007 THROUGH 2010 REMAIN OPEN FOR AUDIT UNDER THE VARIOUS STATUTES OF LIMITATIONS. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 135,669. SHOP EXPENSES 8,479. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 135,669. SHOP EXPENSES 8,479. X X X X X X CT NY FALL GALA 314622 271332 43290 88008 GOLF TOURNAMENT 115812 74754 41058 47661 430434 346086 84348 135669 135669 -51321 X 1 1 X X X 0 0 0 0 0 0 0 0 0 SUSAN TALBOTT 290279 0 0 0 5000 0 0 0 0 0 295279 0 303363 0 X 36 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 7A THE MUSEUM HAS A BOARD OF ELECTORS WHO ELECTS THEIR SUCCESSORS AND THE TRUSTEES AT THE ANNUAL ELECTION MEETING OF ELECTORS. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE OF THE WADSWORTH ATHENEUM REVIEWS THE COMPLETED FORM(S) 990 IN DEPTH. THE CHAIR OF THE AUDIT COMMITTEE WILL MAKE THE FORM AVAILABLE ELECTRONICALLY TO THE BOARD OF TRUSTEES FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C MUSEUM MANAGEMENT MONITORS AND ENFORCES COMPLIANCE BY REQUIRING ALL EMPLOYEES TO COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY WHICH DISCLOSES ALL INTERESTS. MANAGEMENT REVIEWS EACH FORM AND DETERMINES IF ANY DISCLOSURES POSE ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 CEO/DIRECTOR THE PRESIDENT OF THE BOARD OF TRUSTEES WORKS WITH A SUB-COMMITTEE OF THE EXECUTIVE COMMITTEE AND DIRECTOR OF HUMAN RESOURCES TO DETERMINE THE SALARY AND BENEFIT PACKAGE FOR THE CEO/DIRECTOR. THE ASSOCIATION OF ART MUSEUM DIRECTORS (AAMD) SALARY SURVEY, MUSEUM'S BUDGET AND THE CANDIDATE'S QUALIFICATIONS AND EXPERIENCE ARE TAKEN INTO CONSIDERATION IN DETERMINING THE COMPENSATION PACKAGE. OFFICERS OR KEY EMPLOYEES THE CEO/DIRECTOR OF THE MUSEUM DETERMINES THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES. THE CEO/DIRECTOR WORKS WITH THE DIRECTOR OF HUMAN RESOURCES AND USES THE ASSOCIATION OF ART MUSEUM DIRECTORS (AAMD) SALARY SURVEY AND THE MUSEUM'S BUDGET AS GUIDELINES TO DETERMINE THE COMPENSATION AMOUNT. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS ARE DISTRIBUTED AT THE ANNUAL MEETING, POSTED ON THE WADSWORTH ATHENEUM WEBSITE AND BY REQUEST. CONFLICT OF INTEREST POLICIES ARE CURRENTLY NOT AVAILABLE TO THE PUBLIC. GOVERNING DOCUMENTS OR BY-LAWS ARE DISCLOSED BY REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 11,928,203. CHANGE IN THE PROCESS OF THE OVERSIGHT OF THE AUDIT? PART XII, LINE 2C THERE WERE NO CHANGES IN FY 2011 MONITORING AND ENFORCING CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B POLICIES, LINE 12B & 12C 12B. THE MUSEUM'S TRUSTEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY DISCLOSING ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. THESE FORMS ARE CAREFULLY REVIEWED BY THE MUSEUM'S UPPER MANAGEMENT. THE MUSEUM USES AN ON-GOING, PROACTIVE APPROACH THROUGH REGULAR MONITORING, FOR UPPER MANAGEMENT (OR BOARD MEMBER) TO ADDRESS ANY POTENTIAL CONFLICTS BEFORE A TRANSACTION HAS OCCURRED. 12C. MUSEUM MANAGEMENT MONITORS AND ENFORCES COMPLIANCE BY REQUIRING ALL EMPLOYEES TO COMPLETE A CONFLICT OF INTEREST FORM ANNUALLY WHICH DISCLOSES ALL INTERESTS. MANAGEMENT REVIEWS EACH FORM AND DETERMINES IF ANY DISCLOSURES POSE ANY CONFLICTS. IN ADDITION, THE BOARD PROVIDES OVERSIGHT IN MONITORING AND ENFORCING CONFLICT OF INTEREST POLICY.