2024-05-08T17:46:36-05:00 2023-06-30 760269860 Blazek & Vetterling 2900 Weslayan Suite 200 Houston TX 77027 990 2022-07-01 746045327 Menil Foundation Inc MENI 7135259400 1519 Branard Street Houston TX 770064721 Ileana Del Toro CFO 7135259400 2024-05-08 1 Ileana Del Toro 999009999 0 Kurt Coburn P01638285 7134395739 2024-05-08 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z Rebecca Rabinow 1519 Branard Street Houston TX 770064721 81950580 0 X www.menil.org X 1954 TX The Menil Foundation, Inc. supports the Menil Collection, an art museum set in a residential Houston neighborhood. The museum welcomes all visitors free of charge to its art buildings, programs, and green spaces. 31 30 173 31 -576016 0 8838764 8608343 1942414 2166264 27993797 20109829 -71442 -392218 38703533 30492218 51500 51500 0 0 10485789 11380976 12153 12200 1647384 13952307 16076435 24501749 27521111 14201784 2971107 868135377 482060472 1371216 2273330 866764161 479787142 X The Menil Collection is committed to its founders' belief that art is essential to human experience. The Menil fosters direct personal encounters with art, and welcomes all visitors free of charge to its museum buildings and surrounding green spaces. 0 0 9930417 2016264 See Schedule OExhibitions, art displays, and neighborhood enhancement: The Menil Collection regularly rotates displays of its permanent collection and organizes loan exhibitions, primarily in the main museum building and in the Menil Drawing Institute. The Menil's thirty-acre campus includes three other art buildings - Cy Twombly Gallery, the Dan Flavin Installation at Richmond Hall, and the Byzantine Fresco Chapel along with bungalows serving as staff offices, and a bookstore. The Menil Foundation rents out a number of properties in the neighborhood, including some to other non-profits at discounted rates, and maintains a significant amount of green space, which contributes to the unique vitality of the Menil neighborhood. Additionally the Foundation maintains the historic Menil House, the former residence of the museum's founders, which is located in a nearby neighborhood, and serves as the site for museum functions. 5510995 1500 39908 Curatorial and collections - The Menil cares for more than 17,000 works of art in its permanent collection spanning the prehistoric to the present day. The museum's holdings comprise four primary areas of focus: artifacts and objects from the civilizations of the ancient Mediterranean, Egypt, and the Near East; medieval and Byzantine art, objects, and icon paintings; the arts of Africa, the Pacific Islands, and the Americas and the American Pacific Northwest; and modern and contemporary paintings, sculptures, drawings and works on paper, photography, and installations, with concentrations in Surrealism, Abstract Expressionism, Pop Art, and Minimalism. 1543089 50000 38986 Education and public programs - Each year the Menil presents a variety of free educational programs and events, including artist and curator lectures, panel discussions and book readings, musical performances, and film screenings. Since 1989, the Menil and the non-profit Writers in the Schools have collaborated to offer an experiential arts education program that introduces young students to fine arts and creative writing. 557813 79590 Membership - The Menil Collection offers three categories of membership, each with a unique focus and benefits. In addition to general memberships, the museum's Menil Contemporaries program is a membership group for emerging patrons, collectors, and art enthusiasts who share a common passion for the Menil Collection. The Menil Society is a group of committed patrons who enjoy a strong relationship with the Menil. Members are dedicated to fostering deeper engagement with the museum, its mission, and its world-renowned collection by generously supporting exhibitions, programming, and the museum's annual fund. 557813 79590 17542314 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 0 1 0 0 1 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 99 0 1 173 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 31 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 0 NY X X Toby Zhao 7135259400 1519 Branard Street Houston TX 770064721 Louisa Stude Sarofim Chair Emerita 1.00 0.00 X X 0 0 0 Janet M Hobby Chair 1.00 0.00 X X 0 0 0 Doug L Lawing President 1.00 0.00 X X 0 0 0 Mark Wawro Vice President 1.00 0.00 X X 0 0 0 James W Stewart Jr Treasurer 1.00 0.00 X X 0 0 0 Michael Zilkha Secretary 1.00 0.00 X X 0 0 0 Nancy Abendshein Trustee 1.00 0.00 X 0 0 0 Eddie R Allen III Trustee 1.00 0.00 X 0 0 0 Suzanne Deal Booth Trustee 1.00 0.00 X 0 0 0 Clare T Casademont Trustee 1.00 0.00 X 0 0 0 Hilda Curran Trustee 1.00 0.00 X 0 0 0 David Fitch Trustee 1.00 1.00 X 0 0 0 Aziz Friedrich Trustee 1.00 0.00 X 0 0 0 Barbara Goot-Gamson Trustee 1.00 0.00 X 0 0 0 Cecily Horton Trustee 1.00 0.00 X 0 0 0 Caroline Huber Trustee 1.00 0.00 X 0 0 0 George Kelly Trustee 1.00 0.00 X 0 0 0 Dillon Kyle Trustee 1.00 0.00 X 0 0 0 Janie C Lee Trustee 1.00 0.00 X 0 0 0 Alison Leland Trustee 1.00 0.00 X 0 0 0 Isabel Lummis Trustee 1.00 0.00 X 0 0 0 Francois de Menil Trustee 1.00 1.00 X 0 0 0 Clemence Molin Trustee 1.00 0.00 X 0 0 0 Benedicte de Montlaur Trustee 1.00 0.00 X 0 0 0 Franci Neely Trustee 1.00 0.00 X 0 0 0 Anaeze Offodile Trustee 1.00 0.00 X 0 0 0 Marilyn Oshman Trustee 1.00 0.00 X 0 0 0 William E Pritchard III Trustee 1.00 0.00 X 0 0 0 David Ruiz Trustee 1.00 0.00 X 0 0 0 Leslie Elkins Sasser Trustee 1.00 0.00 X 0 0 0 Anne Schlumberger Trustee 1.00 0.00 X 0 0 0 Rebecca Rabinow Director 40.00 0.00 X 529997 0 42413 Ileana Del Toro CFO 38.00 2.00 X 191400 0 36799 Suzanne Maloch Director of Human Resource 35.00 0.00 X 152965 0 34850 Edouard Kopp Chief Curator, MDI 35.00 0.00 X 174815 0 35958 Judith Waters Director of Advancement 35.00 0.00 X 170663 0 35690 Melissa McDonnell-Lujan Dir of Project Developement 35.00 0.00 X 129457 0 33696 Wesley Haines Director of Facilities 35.00 0.00 X 134927 0 27994 1484224 0 247400 11 0 1 0 Brightview Landscapes LLC PO Box 31001-2463 Pasadena CA 911102463 Landscaping service 475376 Color House Inc 2525 Prospect St Houston TX 77004 Construction 466280 Gallant Builders 6990 Portwest Ste 170 Houston TX 77024 Construction 350543 Jackson & Company PO Box130260 Houston TX 77219 Caterering service 331958 Gowan Inc 5550 Airline Dr Houstin TX 77026 HVAC Mechanical 278833 14 1029554 1896922 5681867 997386 8608343 Program rental income 900099 2007949 2007949 Membership dues 900099 79590 79590 Other program fees 900099 39908 39908 Royalties 900099 30502 30502 Exhibition fees 900099 8315 8315 2166264 6979125 -961438 7940563 58306541 5393018 47635737 2933118 10670804 2459900 13130704 385230 12745474 179550 1896922 580444 -400894 -400894 317739 309063 8676 8484 192 30492218 2174748 -576016 20285143 50000 50000 1500 1500 726236 529324 196912 8042771 5346943 1769552 926276 363489 258585 73128 31776 1616569 1214168 292330 110071 631911 440254 122869 68788 52203 4388 47815 108064 108064 12200 12200 667682 667682 793255 537045 249091 7119 73128 65116 8012 513916 369627 63684 80605 264672 198924 22953 42795 2786831 2636124 80344 70363 231847 144859 77750 9238 19102 19102 4186096 233433 3946303 6360 517238 5851 511177 210 Exhibition expenses 1880453 1876779 3674 Program rental expenses 1786787 1786787 Cost of collections 1514265 1514265 Other expenses 283943 204947 66205 12791 396953 104293 23868 268792 27521111 17542314 8331413 1647384 0 5562182 4327184 5335462 4558979 219546 221206 153377 172827 697590 867589 171546178 70681252 105536910 100864926 198383098 239553966 143310050 131384995 408937162 108800 868135377 482060472 1371216 2273330 1371216 2273330 X 565452443 206509025 301311718 273278117 866764161 479787142 868135377 482060472 X 2971107 16105917 -406054043 X 0 1 X 1 0 X 21633997 6546040 15599817 8838764 8608343 61226961 21633997 6546040 15599817 8838764 8608343 61226961 14882520 46344441 4932917 4193548 5477525 10696860 6979125 32279975 93506936 10936906 0.49560 0.49110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 334998789 2905076 26601310 13725828 312278595 362985904 328068 -15605342 12709841 334998789 310446924 100000 68095059 15656079 362985904 315318793 250337 3364854 8487060 310446924 289080017 14376626 12223104 360954 315318793 0.12570 0.46880 0.40550 0 0 27525764 27525764 127350069 56581324 70768745 16670345 14099928 2570417 100864926 Private Equity / Hedge Funds 88756304 F Investment in Richmont Corporation 10463 C Partnerships 42618228 F 131384995 X Part III, Line 1a: Works of Art: On July 1, 2022, the Foundation elected to change its method of accounting for works of art. Previously, in accordance with Accounting Standards Codification (ASC) Section 958-360, Collections and Works of Art, Historical Treasures, or Similar Assets, works of art purchased by or donated to the Foundation were capitalized and recorded at cost or at their fair value on the date of the gift as determined by an appraisal or best information available. Under ASC 958-360, a policy of no capitalization is also an acceptable approach if consistently applied to all collection items. During the year ended June 30, 2023, the Foundation determined that a policy of not capitalizing works of art was preferable. This new accounting method for collections was adopted to align with more prevalent practices observed in other museums. Additionally, management has reported that historical contributed costs of collections often significantly differ from current fair values or insurable values, providing limited value to users of the financial statements. Going forward, the Foundation will implement changes in how art purchases and donations are recorded in their accounting system. The costs associated with acquiring works of art will be reported as "Works of Art - Cost of Collections" under the non-operating activities section on the statement of activities. Part III, Line 4: The museum's holdings comprise four primary areas of focus: artifacts and objects from the civilizations of the ancient Mediterranean, Egypt, and the Near East; medieval and Byzantine art, objects, and icon paintings; the arts of Africa, the Pacific Islands, and the Americas and the American Pacific Northwest; and modern and contemporary paintings, sculptures, drawings and works on paper, photography, and installations, with concentrations in Surrealism, Abstract Expressionism, Pop Art, and Minimalism. Part V, Line 4: Endowment funds are held with the intent of realizing investment revenue, preserving endowment purchasing power, and utilizing prudent earning amounts to fund the organization's mission. Part X, Line 2: The Foundation has received a determination letter from the Internal Revenue Service (IRS) that it is exempt from federal income taxes under 501(c)(3) of the Internal Revenue Code (the "Code") and is described in 509(a)(1) and 170(b)(1)(A)(vi) of the Code and, therefore, has made no provision for federal income taxes in the accompanying financial statements. Uncertain tax positions are recognized in the financial statements only if that position is more-likely-than-not of being sustained upon examination by taxing authorities, based on technical merits of the position. The Foundation has concluded that there are not uncertain tax positions, or any interest and penalties related to uncertain tax position requiring recognition in the financial statements. Schedule D, Part V, Line 1a As reported in the notes to the organization's audited financial statements, the endowment funds net assets at the beginning of the year have been reduced from the prior year's ending net assets by $37,250,000 for the change in accounting principle for works of art. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investment 41159425 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Investment 2377597 0 0 0 0 0 0 43537022 0 43537022 1 0 1 1 1 0 Part I, line 3: The amount reported in Part I, Line 3(f) represents the fair market value of investments held in the region as of June 30, 2023. Part III Accounting Method: 35th Annivesary Gala 1695607 1539007 156600 188568 156047 167857 Party in the Park 380865 357915 22950 45629 6676 15667 2076472 1896922 179550 234197 162723 183524 580444 -400894 1 Writers in the Schools 1523 W Main St Houston TX 77006 760338549 501(c)(3) 50000 0 Support of educational activities 1 Part I, Line 2: The Menil Foundation, Inc. makes grants to Writers in the Schools in connection with programs WITS conducts in coordination with the Foundation. The coordination between the two organizations regarding the programs conducted serves to monitor the use of the funds. X X X X X X 0 0 0 0 0 0 0 0 0 Rebecca Rabinow Director 529497 0 500 0 0 0 15250 0 27163 0 572410 0 0 0 Ileana Del Toro CFO 190900 0 500 0 0 0 9636 0 27163 0 228199 0 0 0 Edouard Kopp Chief Curator, MDI 174315 0 500 0 0 0 8795 0 27163 0 210773 0 0 0 Judith Waters Director of Advancement 170163 0 500 0 0 0 8527 0 27163 0 206353 0 0 0 Suzanne Maloch Director of Human Resource 152465 0 500 0 0 0 7687 0 27163 0 187815 0 0 0 Melissa McDonnell-Lujan Dir of Project Developement 128957 0 500 0 0 0 6533 0 27163 0 163153 0 0 0 Wesley Haines Director of Facilities 134427 0 500 0 0 0 6181 0 21813 0 162921 0 0 0 Fayez Sarofim & Co See Part V 191857 Management of investment assets 0 Part IV- Relationship Between Interested Person and Organization Mrs. Louisa Sarofim's son is a key employee of Fayez Sarofim & Co. which provides investment management services to the Foundation. Mrs. Louisa Sarofim is member of the Board of Trustees and the investment committee, which has the authority to execute investment decisions on behalf of the Foundation. X 14 0 X 38 811094 Sales proceeds X 1 5000 FMV X Event supplies & food 0 181292 FMV 5 0 1 0 Part I, Line 33: There is no amount reported on Schedule M, Part I, Line 1 Column (c) because the organization does not capitalize its collection items nor report contributions of collection items as revenue, as allowed under Financial Accounting Standards Board Accounting Standards Codification 958 360 25 (ASC 958 360 25). Form 990, Part VI, Section B, line 11b A copy of the draft Form 990 is reviewed by management and then distributed to the Audit Committee for their review and questions before the Form 990 is filed with the IRS. The Board of Trustees has delegated this review to the Audit Committee due to the large number of members and expertise of the Board. Members of the Board of Trustees are provided a copy of the return before it is filed. Form 990, Part VI, Section B, line 12c To monitor compliance, a conflict of interest questionnaire is circulated to officers, trustees, and key employees annually with a request to disclose interests that could give rise to conflicts of interest. Substantial business and investment holdings, including those of family members, must be disclosed. Each individual's disclosures are reviewed by the Audit Committee to determine whether any conflicts exist. Form 990, Part VI, Section B, line 15 The compensation of the Director and CFO was approved by the Board of Trustees after review of comparability data provided by similar institutions and summarized by the American Association of Museum Directors. Form 990, Part VI, Section C, line 19 Copies of the Menil Foundation's articles of incorporation, conflict of interest policy, and financial statements are available to the general public upon request. Form 990, Part XI, line 9: Transfer of land for investment 2,883,119. Accounting method change - works of art per ASC 958-360 -408,937,162. Lancaster South LLC 1519 Branard Street Houston TX 77006 870848125 Hold Investment for the benefit of Menil Foundation TX 0 9681736 Menil Foundation Inc The Richmont Corporation 1519 Branard Houston TX 77006 760205399 Owned/operated neighborhood apartments TX 501(c)(2) N/A Menil Foundation Inc 1 Loretto Project LLC 4118 Loretto Dr Houston TX 77006 862975469 Hold investment in real estate TX Menil Foundation Inc Excluded 512-514 11179 6111153 0 0 0.49660 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 1 0 Loretto Project LLC R 2883119 Cost basis