2023-07-31T09:46:56-05:00 2022-12-31 043037870 BOLLUS LYNCH LLP 89 SHREWSBURY STREET WORCESTER MA 01604 990 2022-01-01 042160642 MARTHA'S VINEYARD MUSEUM INC MART 5086274441 151 LAGOON POND ROAD VINEYARD HAVEN MA 02568 HEATHER SEGER EXECUTIVE DIRECTOR 5086274441 2023-07-13 1 HEATHER SEGER 999009999 0 BARBARA E KING P00005629 5087557107 2023-07-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z HEATHER SEGER 151 LAGOON POND ROAD VINEYARD HAVEN MA 02568 3560480 0 X WWW.MVMUSEUM.ORG X 1923 MA THE MARTHA'S VINEYARD MUSEUM INSPIRES ALL PEOPLE TO DISCOVER, EXPLORE, AND STRENGTHEN THEIR CONNECTIONS TO THIS ISLAND AND ITS DIVERSE HERITAGE. 26 26 34 40 0 0 2922060 2827284 239685 240750 163049 92948 -45377 145412 3279417 3306394 0 0 0 0 1238463 1299928 0 102800 299695 2248183 2353956 3486646 3756684 -207229 -450290 27598045 26193784 6483940 6085344 21114105 20108440 THE MARTHA'S VINEYARD MUSEUM INSPIRES ALL PEOPLE TO DISCOVER, EXPLORE, AND STRENGTHEN THEIR CONNECTIONS TO THIS ISLAND AND ITS DIVERSE HERITAGE. 0 0 2772736 258975 EXHIBITIONS, PROGRAMS, EVENTS, AND RESEARCH LIBRARY FOCUSING ON MARTHA'S VINEYARD HISTORY AND CULTURE 2772736 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 28 0 1 34 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X 26 26 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X CAROL H CARROLL 5086274441 151 LAGOON POND ROAD VINEYARD HAVEN MA 02568 CATHY WEISS CHAIR 2.00 X X 0 0 0 DAVID GRAIN VICE CHAIR 2.00 X X 0 0 0 ALISON SHAW SECRETARY 2.00 X X 0 0 0 MEREDITH DEGEN TREASURER 2.00 X X 0 0 0 NAT BENJAMIN DIRECTOR 2.00 X 0 0 0 ROBERT BLACKLOW DIRECTOR 2.00 X 0 0 0 JEB BLATT DIRECTOR 2.00 X 0 0 0 JONATHAN BLUM DIRECTOR 2.00 X 0 0 0 MARCIA MULFORD CINI DIRECTOR 2.00 X 0 0 0 JILL COWAN DIRECTOR 2.00 X 0 0 0 GORDON CROMWELL DIRECTOR 2.00 X 0 0 0 SAM FLEMING DIRECTOR 2.00 X 0 0 0 DAVID FOSTER DIRECTOR 2.00 X 0 0 0 FREDERICK JACKSON DIRECTOR 2.00 X 0 0 0 ANDRE KOESTER DIRECTOR 2.00 X 0 0 0 DAVID LEWIS DIRECTOR 2.00 X 0 0 0 CALVIN LINNEMANN DIRECTOR 2.00 X 0 0 0 CHRIS MORSE DIRECTOR 2.00 X 0 0 0 ELIZABETH PICKMAN DIRECTOR 2.00 X 0 0 0 PHILIP REGAN DIRECTOR 2.00 X 0 0 0 ARTHUR ROBINSON DIRECTOR 2.00 X 0 0 0 BRUCE STEWART DIRECTOR 2.00 X 0 0 0 SHELLEY STEWART DIRECTOR 2.00 X 0 0 0 KAHINA VAN DYKE DIRECTOR 2.00 X 0 0 0 BETSEY WEINSTOCK DIRECTOR 2.00 X 0 0 0 DENYS WORTMAN DIRECTOR 2.00 X 0 0 0 HEATHER SEGER EXECUTIVE DIRECTOR 40.00 X 155000 0 4829 CAROL H CARROLL DIRECTOR OF FINANCE & ADMINISTRATION 40.00 X 73666 0 13749 228666 0 18578 1 0 1 0 0 229838 320759 401311 1875376 2827284 LECTURES & TALKS ADMIS 900099 240750 240750 240750 66731 66731 202975 0 202975 202975 202975 123807 97590 26217 26217 26217 52071 320759 127859 -75788 -75788 46862 28637 18225 18225 3306394 258975 0 220135 228666 23250 127916 77500 863217 716493 116812 29912 118231 67826 47801 2604 89814 60848 20130 8836 16275 16275 102800 102800 102762 101937 825 33448 21618 3386 8444 27636 24872 2210 554 301176 263865 31448 5863 234280 210852 18742 4686 1033359 930023 82670 20666 74446 63349 9689 1408 COLLECTION & EXHIBITS 230407 230407 CONTRACT SERVICES 171593 106103 65490 0 OTHER 69661 38837 30824 PROGRAMS & SPECIAL EVEN 28554 22871 910 4773 30359 30359 3756684 2772736 684253 299695 1256089 1701433 428567 178033 44431 46559 27892 10839 26100488 4294936 22838910 21805552 3002156 2451368 27598045 26193784 483940 457844 6000000 5627500 6483940 6085344 X 17582721 17413923 3531384 2694517 21114105 20108440 27598045 26193784 X -450290 -551875 -3500 X 0 1 X 1 0 X 6821177 4627741 2388462 2922060 2827284 19586724 6821177 4627741 2388462 2922060 2827284 19586724 2102649 17484075 97217 87515 110388 163049 295923 754092 20340816 1151872 0.85960 0.82120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 3002156 35000 -461982 123807 2451367 2811146 275510 84500 3002156 2483614 65000 335332 72800 2811146 1882854 275000 384360 58600 2483614 1568212 467256 -96547 56067 1882854 1.00000 0 0 2154333 2154333 22005712 3354408 18651304 1940443 940528 999915 21805552 2783156 -551875 28637 -523238 3306394 0 3306394 3788821 3500 28637 32137 3756684 0 3756684 PART III, LINE 1A: AS ALLOWED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA AND FOLLOWING THE PRACTICES OF MANY MUSEUMS, THE MUSEUM HAS NOT CAPITALIZED ITS COLLECTION OF ITEMS OF HISTORICAL NATURE AND OTHER RELATED OBJECTS PURCHASED OR DONATED. THE COLLECTION IS HELD FOR PUBLIC EXHIBITION, EDUCATION, OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE RATHER THAN FINANCIAL GAIN. THE MUSEUM CONTINUALLY REVIEWS ITS COLLECTION AND MAY DE-ACCESS OR ACQUIRE ADDITIONAL ITEMS. EXPENDITURES FOR ADDITIONAL COLLECTION ITEMS ARE PRESENTED AS A REDUCTION IN THE APPROPRIATE CLASS OF NET ASSETS. PROCEEDS FROM DE-ACCESSIONS ARE REFLECTED AS INCREASES IN UNRESTRICTED NET ASSETS. THE MUSEUM HAS ESTABLISHED A POLICY THAT REQUIRES THE PROCEEDS FROM ITEMS DE-ACCESSED TO BE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTION. PART III, LINE 4: MARTHA'S VINEYARD MUSEUM CONSISTS OF THE RENOVATED MARINE HOSPITAL/ST. PIERRE CAMP PROPERTY IN TISBURY. THE MUSEUM HAS PERMANENT AND CHANGING EXHIBITS THAT EXPLORE THE HISTORY, CULTURE, ART, NATURAL HISTORY AND LANDSCAPE OF MARTHA'S VINEYARD ISLAND. THE MUSEUM OFFERS A LARGE RANGE OF ADULT AND CHILDREN'S EDUCATIONAL PROGRAMS, EXHIBITS, AND EVENTS TO MEMBERS AND THE GENERAL PUBLIC. IN ADDITION TO THE MAIN CAMPUS IN TISBURY, THE MARTHA'S VINEYARD MUSEUM ALSO HAS THE COOKE HOUSE PROPERTY IN EDGARTOWN AND STEWARDSHIP OF THE EDGARTOWN AND EAST CHOP LIGHTHOUSES. PART V, LINE 4: THE PURPOSE OF THE ENDOWMENT IS TO PROVIDE A STEADY BUT GROWING STREAM OF INCOME TO THE MUSEUM OVER FUTURE YEARS. THE ENDOWMENT WILL PROVIDE THE MEANS FOR THE MUSEUM TO ACCEPT LASTING GIFTS FROM INDIVIDUALS AND OTHER ENTITIES THAT WILL BOTH HONOR AND PERPETUATE THE MISSION OF THE MUSEUM AND THE MUSEUM'S PROGRAMS IN CARRYING OUT THAT MISSION. THE MUSEUM'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 MUSEUM TO FUNCTION AS ENDOWMENTS. 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. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE MUSEUM CLASSIFIES AS DONOR 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 AS NON-EXPENDABLE NET ASSETS IS CLASSIFIED AS EXPENDABLE NET ASSETS UNTIL THOSE AMOUNTS ARE APPROPRIATED FOR EXPENDITURE BY THE MUSEUM 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 MUSEUM MAY 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 MUSEUM 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 MUSEUM; AND THE INVESTMENT POLICIES OF THE MUSEUM. THE MUSEUM HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS BOARD-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 BOARD, THE ENDOWMENT ASSETS ARE INVESTED IN A PORTFOLIO OF DEBT AND EQUITY SECURITIES WITH THE OBJECTIVE OF ACHIEVING LONG-TERM CAPITAL APPRECIATION WHILE MODERATING THE LEVEL OF INVESTMENT RISK. ACTUAL RETURNS IN ANY GIVEN YEAR MAY VARY FROM THIS AMOUNT. TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE MUSEUM RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST, DIVIDENDS AND NET RENTAL INCOME). THE MUSEUM HAS INVESTED IN DEBT AND EQUITY SECURITIES THAT TARGET A DIVERSIFIED ASSET ALLOCATION THAT PLACES A GREATER EMPHASIS ON EQUITY-BASED INVESTMENTS TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE MUSEUM HAS A POLICY THAT THE BOARD, AFTER CONSULTATION WITH THE FINANCE COMMITTEE, MAY APPROPRIATE FOR DISTRIBUTION EACH YEAR NOT MORE THAN 5% OF THE APPLICABLE MARKET VALUE OF THE ENDOWMENT. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 28,637. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 28,637. 1 HELLER FUNDRAISING GROUP INC 150 WEST END AVE NEW YORK NY 10023 DESIGN AND IMPLEMENT A FUNDRAISING PROGRAM. 0 0 102800 -102800 102800 -102800 DISCOVERY WEEKEND 372830 320759 52071 26591 101268 372830 320759 52071 26591 101268 127859 -75788 SCHEDULE G, PART I, LINE 2B, COLUMN (V) PAYMENTS FOR THE DESIGN AND IMPLEMENTATIO OF A FUNDRAISING PROGRAM INCLUDING A WO-YEAR AND FIVE-YEAR DEVELOPMENT PLAN. X X X 0 0 0 0 0 0 0 0 0 HEATHER SEGER EXECUTIVE DIRECTOR 155000 0 0 0 0 0 4829 0 0 0 159829 0 0 0 PART I, LINE 3 COMPENSATION IS SET BY THE BOARD OF DIRECTORS USING COMPENSATION INFORMATION FROM FORM 990 OF SIMILAR ORGANIZATIONS AND APPROVAL IS DOCUMENTED IN THE MINUTES AND A WRITTEN CONTRACT. X 16 GAAP X 69 GAAP 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP CONSISTS OF A VARIETY OF DIFFERENT LEVELS INCLUDING UNLIMITED ACCESS TO OUR CHANGING EXHIBITIONS, GALLERIES, GIFT SHOP, AND CAFE THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNANCE OF THE MUSEUM, ITS LIBRARIES, MUSEUMS, COLLECTIONS, AND OTHER PROPERTIES IS VESTED IN A BOARD OF DIRECTORS ELECTED FROM AMONG MEMBERS OF THE MUSEUM BY A MAJORITY OF THOSE MEMBERS PRESENT AND VOTING AT THE ANNUAL MEETING, PROVIDED THE QUORUM REQUIREMENTS ARE MET WITH RESPECT TO SUCH MEETING. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE RETURN WILL BE CIRCULATED TO THE MEMBERS OF THE FINANCE COMMITTEE FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING THE FINAL RETURN. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND DIRECTORS MUST NOTIFY THE BOARD ANNUALLY WITH ANY CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION IS SET BY REVIEWING JOB RESPONSIBILITIES, LENGTH OF SERVICE, COMPARABLE SALARIES THROUGH NEW ENGLAND MUSEUM ASSOCIATION INFORMATION AND LOCAL COMPARABLES EMPLOYEES ONLY-OFFICERS AND DIRECTORS ARE NOT COMPENSATED. FORM 990, PART VI, SECTION C, LINE 19 REQUESTS FOR INSPECTION OF THE RETURNS ARE FORWARDED TO THE EXECUTIVE DIRECTOR OR DIRECTOR OF FINANCE WHO MAKE THE NECESSARY ARRANGEMENTS TO PROVIDE ACCESS TO THE RETURNS. FORM 990, PART XI, LINE 9: LOSS ON UNCOLLECTIBLE PLEDGES -3,500. PART IX, LINE 11G OTHER PROFESSIONAL FEES: FACILITIES MASTER PLANNING - $101,937, OTHER FUNDRAISING - $825.