2014-08-11T10:09:58-05:00 2013-09-30 271235638 MOUNTJOY CHILTON MEDLEY LLP 462 S FOURTH ST SUITE 2600 LOUISVILLE KY 402023445 990 2012-10-01 610444823 SPEED ART MUSEUM SPEE 5026342709 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 DAVID C KNOPF 5026342709 2014-08-04 1 REBECCA L PHILLIPS CPA P00024055 5027491900 2012 2015-11-30 17:44:51Z DAVID C KNOPF 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 61555878 0 X WWW.SPEEDMUSEUM.ORG X 1933 KY TO DISCOVER, TOGETHER WITH ITS COMMUNITIES, THE JOY AND POWER OF GREAT ART. 22 22 109 259 0 0 7954187 13212437 1270441 173037 825590 572438 414940 311467 10465158 14269379 0 0 0 0 2909885 2197266 0 0 530360 4432136 2923456 7342021 5120722 3123137 9148657 120653702 136071923 1173433 2673156 119480269 133398767 TO DISCOVER, TOGETHER WITH ITS COMMUNITIES, THE JOY AND POWER OF GREAT ART. 0 0 1896515 GUARDIANSHIP AND MAINTENANCE OF THE MUSEUM AND ITS ART COLLECTION. THE MUSEUM IS CURRENTLY CLOSED FOR EXPANSION. 1157397 172636 CURATORIAL DEPARTMENTS, EXHIBITIONS, CONSERVATION CATALOGUING AND SCHOLARLY PUBLICATIONS. 201971 ACQUISITION OF ART. 3255883 1 1 0 0 0 0 0 1 0 1 1 0 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 1 41 0 1 109 1 0 0 0 0 0 1 1 0 0 0 0 X 22 22 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 KY X X DAVID C KNOPF 5026342700 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 ALLAN LATTS 1.00 X X 0 0 0 BRUCE MERRICK 1.00 X X 0 0 0 ERIC DONINGER 1.00 X X 0 0 0 BROOKE BARZUN 1.00 X X 0 0 0 MARY LOUISE BARR 1.00 X 0 0 0 BRIDGETTE BELL 1.00 X 0 0 0 RICHARD CLAY 1.00 X 0 0 0 ELIZABETH DAVIS 1.00 X 0 0 0 HELEN FUGITTE 1.00 X 0 0 0 HOPE GARDINER 1.00 X 0 0 0 GILL HOLLAND 1.00 X 0 0 0 ROBERT KULP JR 1.00 X 0 0 0 WILLIAM LEAR JR 1.00 X 0 0 0 TODD LOWE 1.00 X 0 0 0 MARY HELEN MYLES 1.00 X 0 0 0 ANNE OGDEN 1.00 X 0 0 0 REV ALFRED SHANDS III 1.00 X 0 0 0 ELLEN SHAPIRA 1.00 X 0 0 0 V BENSON SMALL 1.00 X 0 0 0 DR WOODFORD VAN METER 1.00 X 0 0 0 ANNE WELLS 1.00 X 0 0 0 DR SHIRLEY WILLIHNGANZ 1.00 X 0 0 0 DAVID KNOPF 35.00 X 92511 0 10901 LISA RESNIK 35.00 X 109169 0 5541 GHISLAIN D'HUMIERES 35.00 X 0 0 0 GREG GARDINER 35.00 X 113700 0 5625 CHARLES VENABLE 35.00 X 241834 0 19250 557214 0 41317 3 1 1 0 WHY ARCHITECTURE 9520 JEFFERSON BLVD STUDIO CULVER CITY CA 90232 ARCHITECTS 1744472 K NORMAN BERRY ASSOCIATES 611 WEST MAIN STREET LOUISVILLE KY 40202 ARCHITECTS 1242528 FA WILHELM CONSTRUCTION CO INC PO BOX 516 INDIANAPOLIS IN 46206 CONSTRUCTION 416221 L A LOUVER 45 N VENICE BLVD VENICE CA 90291 CONSTRUCTION 262705 CARMAN 310 OLD VINE STREET LEXINGTON KY 40507 CONSTRUCTION 100104 5 176770 88777 12946890 582768 13212437 MEMBERSHIPS 900099 147206 147206 TRAVELING EXHIBITIONS 900099 19760 19760 EDUCATION PROGRAMMING 900099 5316 5316 ADMISSIONS 900099 755 755 173037 572435 572435 47141376 47141373 3 3 3 48355 176770 144536 -96181 -96181 189 590 -401 -401 PARKING GARAGE 900099 408049 408049 408049 14269379 172636 0 884306 301065 140822 79181 81062 1563899 782634 587465 193800 71264 37897 14695 18672 122632 69823 27074 25735 138406 75364 29223 33819 23524 23524 91765 91765 266472 47576 183532 35364 101821 76310 25511 171158 91548 60823 18787 16890 16890 328889 328889 110293 88356 21002 935 317 317 974821 974821 134865 121095 13770 ACQUISITIONS 184920 184920 STAFF RETENTION AND REC 144849 144849 CURATORIAL 82953 72315 10638 MAINTENANCE CONTRACTS 67176 44858 22318 222743 118655 18368 85720 5120722 3255883 1334479 530360 4800 3175 1886100 12438624 26660856 31500503 348870 236927 0 83939 77288 43012556 17356463 18229555 25656093 68142070 61858545 5297083 4300444 429 324 120653702 136071923 1173433 2298156 375000 1173433 2673156 X 74792772 84565447 38736449 41920610 5951048 6912710 119480269 133398767 120653702 136071923 9148657 4127381 642460 0 X X 0 1 X 1 0 X 7636181 15452781 9073242 7954187 13212437 53328828 7636181 15452781 9073242 7954187 13212437 53328828 29170866 24157962 1662523 1501344 1486195 1298970 980484 6929516 60258344 4243528 0.40090 0.46490 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 63953092 1000 4593101 2825518 65721675 60391232 1000 6608102 3047242 63953092 67070714 102000 -2533335 4248147 60391232 64796932 5765708 3491926 67070714 66935467 102254 1247152 3487941 64796932 0.89480 0.10520 0.00000 1 0 13610427 9160512 4449915 14896732 7631777 7264955 596150 511313 84837 13909247 52861 13856386 25656093 X 18449531 4127381 144536 4271917 14177614 91765 91765 14269379 5173493 144536 144536 5028957 91765 91765 5120722 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MOST MUSEUMS, ART OBJECTS ARE NOT INCLUDED IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. ACCORDINGLY, THE FAIR VALUES OF THE OBJECTS ACQUIRED BY GIFT ARE NOT INCLUDED IN THE STATEMENT OF ACTIVITIES. THE COSTS OF OBJECTS PURCHASED ARE INCLUDED AS EXPENSE IN THE STATEMENT OF ACTIVITIES. FOR THE YEAR ENDED SEPTEMBER 30, 2013, THE MUSEUM RECEIVED GIFTS OF ART WORK IN THE AMOUNT OF $825,200 AND PURCHASED ARTWORK IN THE AMOUNT OF $139,100. DEACCESSIONS WERE NOT SIGNIFICANT FOR THE YEAR ENDED SEPTEMBER 30, 2013. THE MUSEUM HAS A SIGNIFICANT COLLECTION OF ART INCLUDING APPROXIMATELY 13,000 PIECES. THE COLLECTION SPANS 6,000 YEARS AND RANGES FROM ANCIENT EGYPTIAN TO CONTEMPORARY ART. THE MUSEUM HAS DISTINGUISHED COLLECTIONS OF 17TH CENTURY DUTCH AND FLEMISH PAINTINGS; 18TH CENTURY FRENCH ART; RENAISSANCE AND BAROQUE TAPESTRIES; AND SIGNIFICANT HOLDINGS OF CONTEMPORARY PAINTINGS AND SCULPTURES. WORKS BY KENTUCKY ARTISTS, INCLUDING FURNITURE, PAINTINGS AND DECORATIVE ARTS ARE REPRESENTED IN THE MUSEUM'S COLLECTION. AFRICAN AND NATIVE AMERICAN WORKS ARE ALSO REPRESENTED. PART III, LINE 4: THE MUSEUM HAS A SIGNIFICANT COLLECTION OF ART INCLUDING APPROXIMATELY 13,000 PIECES. THE COLLECTION SPANS 6,000 YEARS AND RANGES FROM ANCIENT EGYPTIAN TO CONTEMPORARY ART. THE MUSEUM HAS DISTINGUISHED COLLECTIONS OF 17TH CENTURY DUTCH AND FLEMISH PAINTINGS; 18TH CENTURY FRENCH ART; RENAISSANCE AND BAROQUE TAPESTRIES; AND SIGNIFICANT HOLDINGS OF CONTEMPORARY PAINTINGS AND SCULPTURES. WORKS BY KENTUCKY ARTISTS, INCLUDING FURNITURE, PAINTINGS AND DECORATIVE ARTS ARE REPRESENTED IN THE MUSEUM'S COLLECTION. AFRICAN AND NATIVE AMERICAN WORKS ARE ALSO REPRESENTED. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE TO SUPPORT ITS OPERATIONS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE MUSEUM QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. ACCORDINGLY, NO INCOME TAXES HAVE BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE MUSEUM RECOGNIZES UNCERTAIN INCOME TAX POSITIONS USING THE "MORE-LIKELY-THAN-NOT" APPROACH AS DEFINED IN THE ASC. NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION'S 2009 TO 2012 TAX YEARS REMAIN OPEN AND SUBJECT TO EXAMINATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 144,536. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 144,536. MUSEUM BALL 223285 176770 46515 22970 49403 31342 37657 223285 176770 46515 22970 49403 31342 37657 141372 -94857 X X X X 0 0 0 0 0 0 0 0 0 CHARLES VENABLE 216834 0 25000 0 0 0 9709 0 9541 0 261084 0 0 0 X 57 0 X 2 0 X 26 582768 FAIR MARKET VALUE 3 0 0 0 NON REPORTING OF REVENUE: PART I, LINE 33: NO REVENUE WAS REPORTED BECAUSE THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. FORM 990, PART VI, SECTION A, LINE 2 ALLAN LATTS AND ELLEN H. SHAPIRA HAVE A FAMILY RELATIONSHIP. GILL HOLLAND AND BROOKE BARZUN HAVE A FAMILY RELATIONSHIP. GILL HOLLAND AND ELIZABETH DAVIS HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGES TO THE ORGANIZATION'S BYLAWS ADOPTED DECEMBER 13, 2012: 1. NOMINATIONS TO BOTH BOARDS ARE NOW MADE AT EVERY ANNUAL MEETING AS OPPOSED TO EVERY THIRD ANNUAL MEETING. 2. NOMINEES TO THE BOARD OF GOVERNORS ARE NO LONGER REQUIRED TO BE PATRON CIRCLE GOLD LEVEL MEMBERS OR ABOVE AT THE TIME OF THEIR NOMINATION. 3. THE TERMS ALLOWABLE TO SERVE ON BOTH BOARDS WERE REDUCED FROM 3 TO 2. 4. ELECTED MEMBERS OF BOTH BOARDS ARE DIVIDED IN 6 CLASSES AS OPPOSED TO 3 CLASSES PREVIOUSLY. 5. THE DIRECTOR IS NO LONGER CONSIDERED AN EX OFFICIO MEMBER OF THE BOARD OF TRUSTEES 6. NOMINEES OF BOTH BOARDS MAY ONLY BE ELECTED AT THE ANNUAL MEETING EXCEPT IN THE CASE OF VACANCIES AND INSTANCES WHERE A CANDIDATE FAILS TO RECEIVE THE SUFFICIENT VOTES NECESSARY FOR ELECTION AND A REPLACEMENT IS NOMINATED AT ANOTHER REGULAR OR SPECIAL MEETING. 7. MEMBERS OF THE BOARD OF TRUSTEES NO LONGER MUST BE MEMBERS OF THE CONNOISSEURS GIVING SOCIETY AND SUPPORT THE MUSEUM'S FUND RAISING CAMPAIGNS AT THE HIGHEST LEVELS. 8. MEMBERS OF THE BOARD OF GOVERNORS NO LONGER MUST REMAIN PATRON CIRCLE GOLD LEVEL MEMBERS THROUGHOUT THEIR TERMS, HOWEVER, MUST PROVIDE FINANCIAL AND OTHER SUPPORT AS DETERMINED BY THE BOARD OF TRUSTEES. THE GOVERNANCE COMMITTEE OF THE BOARD OF TRUSTEES NO LONGER HAS THE AUTHORITY TO STIPULATE A LEVEL OF SUPPORT FOR ANY INDIVIDUAL GOVERNOR. 9. BOARD OF TRUSTEE CONSENT IS NO LONGER NECESSARY FOR NOMINATION TO THE BOARD OF GOVERNORS. 10. OFFICERS NO LONGER MUST BE RECOMMENDED FOR ELECTION BY THE GOVERNANCE COMMITTEE. 11. THE CHAIR OF THE BOARD OF GOVERNORS CAN NOW APPOINT A VICE CHAIR WHO MAY PERFORM THE CHAIR'S DUTIES IN THEIR ABSENCE. 12. ANY CONTRACTS OR TRANSACTIONS OUTSIDE THE ORDINARY COURSE OF BUSINESS OF THE MUSEUM AS DEFINED BY THE BOARD OF TRUSTEES MAY NOW BE EXECUTED ONLY BY EXPRESS AUTHORIZATION OF THE BOARD OF TRUSTEES. 13. THE GOVERNANCE COMMITTEE A. CHAIR IS NOW SELECTED BY THE CHAIR OF THE BOARD OF TRUSTEES AS OPPOSED TO BY COMMITTEE MEMBERS. B. THE EXECUTIVE COMMITTEE NOW SUBMITS BOARD OF TRUSTEE NOMINATIONS TO THE GOVERNANCE COMMITTEE AS OPPOSED TO THE GOVERNANCE COMMITTEE ITSELF. C. THE TERM ON THE COMMITTEE HAS BEEN REDUCED FROM TWO YEARS TO ONE. FORM 990, PART VI, SECTION B, LINE 11 BOARD OF TRUSTEES' EXECUTIVE COMMITTEE REVIEWED THE FORM 990 PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C SIGNED COPIES OF THE FORMS ARE REQUESTED AND FILED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES EMPLOYED AN OUTSIDE CONSULTING FIRM IN 2013 TO HELP IN THE SEARCH FOR THE NEW DIRECTOR AND DETERMINATION OF COMPENSATION. THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED ANNUALLY BY A COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.