2024-05-15T20:01:46-05:00 2023-06-30 440160260 FORVIS LLP 999 S SHADY GROVE RD STE 400 MEMPHIS TN 38120 990 2022-07-01 626063304 MEMPHIS BROOKS MUSEUM OF ART INC MEMP 9015446200 1934 POPLAR AVENUE MEMPHIS TN 38104 MILTON LOVELL TREASURER 9015446200 2024-05-15 1 MILTON LOVELL 999009999 1 LAKRISHA J CASTLEBERRY P01677333 9017613000 2024-05-15 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MILTON LOVELL 1934 POPLAR AVENUE MEMPHIS TN 38104 44490198 0 X WWW.BROOKSMUSEUM.ORG X 1989 TN THE MEMPHIS BROOKS MUSEUM OF ART ENRICHES THE LIVES OF OUR DIVERSE COMMUNITY THROUGH THE MUSEUM'S EXPANDING COLLECTION, VARIED EXHIBITIONS, AND DYNAMIC PROGRAMS THAT REFLECT THE ART OF WORLD CULTURES FROM ANTIQUITY TO PRESENT. 29 29 59 50 343401 0 21607214 42556980 64453 37400 289450 1515120 83989 206403 22045106 44315903 0 3000 0 0 2441673 3171464 0 0 115 5561231 3113336 8002904 6287800 14042202 38028103 56034358 97084353 398388 754085 55635970 96330268 THE MEMPHIS BROOKS MUSEUM OF ART ENRICHES THE LIVES OF OUR DIVERSE COMMUNITY THROUGH THE MUSEUM'S EXPANDING COLLECTION, VARIED EXHIBITIONS, AND DYNAMIC PROGRAMS THAT REFLECT THE ART OF WORLD CULTURES FROM ANTIQUITY TO PRESENT. 0 0 4984538 3000 37400 PUBLIC ART EXHIBITION SERVICES - EXPENDITURES FOR THE PUBLIC DISPLAY OF VARIOUS FINE ART EXHIBITIONS, BOTH FROM THE MUSEUM'S PERMANENT COLLECTION AND TRAVELING EXHIBITIONS FROM OTHER INSTITUTIONS.APPROXIMATELY 70,000 PEOPLE SERVED. 425547 PUBLIC EDUCATION SERVICES - EXPENDITURES FOR A WIDE VARIETY OF EDUCATIONAL ACTIVITIES, INCLUDING, DOCENT-LEAD TOURS AND OUTREACH ART CURRICULUM IN PUBLIC SCHOOLS. 17,500 PEOPLE SERVED. 112001 MEMBERSHIP SERVICES - EXPENDITURES IN SUPPORT AND DEVELOPMENT OF THE MUSEUM'S 3,100 MEMBERS. 5522086 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 10 0 1 59 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 TN X X SHAWN TAYLOR 9015446211 1934 POPLAR AVENUE MEMPHIS TN 38104 CARL PERSON PRESIDENT 2.00 X X 0 0 0 BARBARA R HYDE VICE-PRESIDENT 2.00 X X 0 0 0 MILTON LOVELL TRESURER 2.00 X X 0 0 0 WENDI MIHALKO SECRETARY 2.00 X X 0 0 0 ADAM HANOVER TRUSTEE 2.00 X 0 0 0 BERNICE H HUSSEY TRUSTEE 2.00 X 0 0 0 DARRELL T COBBINS TRUSTEE 2.00 X 0 0 0 DEBI J HAVNER TRUSTEE 2.00 X 0 0 0 DEREK FORDJOUR TRUSTEE 2.00 X 0 0 0 DOMINGO HURTADO TRUSTEE 2.00 X 0 0 0 DR RUSHTON E PATTERSON TRUSTEE 2.00 X 0 0 0 DR JAMES K PATTERSON TRUSTEE 2.00 X 0 0 0 ELEANOR HALLIDAY TRUSTEE 2.00 X 0 0 0 GAIL GEORGE TRUSTEE 2.00 X 0 0 0 GLORIA R BOYLAND TRUSTEE 2.00 X 0 0 0 KRISTI CARMICHAEL TRUSTEE 2.00 X 0 0 0 LINDA ROSSER TRUSTEE 2.00 X 0 0 0 LOGAN SCHEIDT TRUSTEE 2.00 X 0 0 0 MARY LEE COPP TRUSTEE 2.00 X 0 0 0 MELYNE STRICKLAND TRUSTEE 2.00 X 0 0 0 NATHAN A BICKS TRUSTEE 2.00 X 0 0 0 PAM CAIN TRUSTEE 2.00 X 0 0 0 REBECCA BELZ TRUSTEE 2.00 X 0 0 0 ROBERT G HEARD III TRUSTEE 2.00 X 0 0 0 RODNEY HERENTON TRUSTEE 2.00 X 0 0 0 SEPTEMBER GINGRAS TRUSTEE 2.00 X 0 0 0 T MATHON PARKER JR TRUSTEE 2.00 X 0 0 0 TANYA HART TRUSTEE 2.00 X 0 0 0 TERESA SLOYAN TRUSTEE 2.00 X 0 0 0 ZOE KAHR EXECUTIVE DIRECTOR 40.00 X 51078 0 371 SHAWN TAYLOR DIRECTOR OF FINANCE 40.00 X 0 0 0 MARK RESNICK FORMER EXECUTIVE DIRECTOR 40.00 X 220931 0 13321 272009 0 13692 1 1 1 0 ARCHIMANIA 663 SOUTH COOPER MEMPHIS TN 38104 ARCHITECT FEES 3041522 GRINDER TABER AND GRINDER 1919 LYNNFIELD ROAD MEMPHIS TN 38119 GENERAL CONSTRUCTION CONTRACTOR 1168075 HERZOG & DEMEURON 6 RHEINSCHANZE BASEL SZ 4056 BUILDING DESIGN FEES 790000 GASKILL STRATEGIES 1759 CENTRAL AVE MEMPHIS TN 38104 CAPITAL CAMPAIGN FUNDRAISING CONSULTANT 207000 4 213081 265467 671448 41406984 42556980 ADMISSIONS & PROGRAMS 713990 37400 37400 37400 1435480 1435480 79640 0 79640 79640 79640 0 265467 174295 -174295 -174295 343401 0 343401 343401 MISCELLANEOUS 713990 37297 37297 37297 44315903 37400 343401 1378122 X 3000 3000 2776281 2776281 196910 150447 46463 198273 198273 917359 892720 24639 101114 76221 24893 835821 688835 146871 115 35197 35197 274784 274784 73376 73376 1245 1245 62097 31049 31048 106577 106577 DEVELOPMENT/MUSEUM 442585 321903 120682 MISCELLANEOUS EXPENSES 238150 238150 BANK & CREDIT CARD FEES 22723 22723 BAD DEBT 2308 2308 6287800 5522086 765599 115 36760140 50492500 89963 1316930 5177489 14568956 1250321 3393066 58355 29430 22151587 2093711 8288606 20057876 4409484 7225595 56034358 97084353 398388 663308 90777 398388 754085 X 1268826 550641 54367144 95779627 55635970 96330268 56034358 97084353 X 38028103 644761 2595690 -574256 X X 0 1 X 1 1 1 X X 1 CITY OF MEMPHIS DIVISION OF PARK SERVICES 626000361 6 1 6599095 0 1 6599095 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 X PART IV, SECTION E, LINE 1C: THE MEMPHIS BROOKS MUSEUM OF ART, INC. OPERATES ITS MUSEUM FOR THE CITY OF MEMPHIS. PART IV, SECTION D, LINE 2: THE MUSEUM IS OWNED BY THE CITY OF MEMPHIS AND THEREFORE THE MANAGEMENT OF THE MUSEUM IS DIRECTLY RESPONSIBLE TO THE CITY OF MEMPHIS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 6237670 1057512 486423 7781605 4448077 2400000 -610407 6237670 4448077 4448077 4448077 4448077 4418077 30000 4448077 1.00000 0 0 20957886 942526 20015360 1193701 1151185 42516 20057876 X 44361769 644761 -574256 70505 44291264 24639 24639 44315903 6263161 0 6263161 24639 24639 6287800 PART III, LINE 1A: COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. PROCEEDS FROM INSURANCE RECOVERIES ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE MUSEUM'S COLLECTIONS ARE MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE AND ART OBJECTS THAT ARE HELD FOR EDUCATION, RESEARCH, SCIENTIFIC AND CURATORIAL PURPOSES. PART V, LINE 4: THESE ARE PERMANENTLY RESTRICTED FUNDS ("CORPUS") WHICH ARE INTENDED TO BE MAINTAINED IN PERPETUITY. PART X, LINE 2: THE MUSEUM IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN DETERMINED TO BE AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. HOWEVER, THE MUSEUM IS SUBJECT TO UNRELATED BUSINESS INCOME TAXES, RELATED TO THE FULL SERVICE RESTAURANT AND MUSEUM GIFT SHOP. THE MUSEUM HAS NET OPERATING LOSS CARRY FORWARDS OF $1,306,000 WHICH CAN BE CARRIED FORWARD INDEFINITELY UNTIL THE LOSS IS FULLY RECOVERED. THE FOUNDATION HAS NOT RECORDED A DEFERRED TAX ASSET RELATED TO THE OPERATING LOSS CARRYFORWARDS AS MANAGEMENT DOES NOT EXPECT TO UTILIZE THEM PRIOR TO THEIR EXPIRATION. THE MUSEUM HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN DISCOUNT ON LT PLEDGES -574,256. X X X X 1 GASKILL STRATEGIES 1759 CENTRAL AVENUE MEMPHIS TN 38104 CAPITAL CAMPAIGN 0 35008882 207000 34801882 35008882 207000 34801882 BARREL TO BARREL 265467 265467 5680 10239 42520 115856 265467 265467 5680 10239 42520 115856 174295 -174295 X X X 0 0 0 0 0 0 0 0 0 MARK RESNICK FORMER EXECUTIVE DIRECTOR 220931 0 0 0 0 0 8837 0 4484 0 234252 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS RUSHTON PATTERSON, JR. AND JAMES PATTERSON ARE BROTHERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED IN DETAIL BY FINANCE, AUDIT AND EXECUTIVE COMMITTEES, IN ADDITION TO THE DIRECTOR AND ASSISTANT DIRECTOR. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS REVIEWED ANNUALLY WITH THE TRUSTEES, OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15A THE MUSEUM DIRECTOR'S COMPENSATION IS ESTABLISHED BY MULTI-YEAR CONTRACT AND DETERMINED BY THE EXECUTIVE COMMITTEE, WHICH CONSIDERS PRIOR COMPENSATION, ASSOCIATION OF ART MUSEUM DIRECTOR'S ANNUAL SALARY SURVEY, AND SELECTED OTHER MUSEUM 990'S. ANNUAL REVIEWS ARE CONDUCTED BY THE MUSEUM EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST. THE GOVERNING DOCUMENTS ARE ALSO AVAILABLE ON THE TENNESSEE SECRETARY OF STATE WEBSITE. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 892,720. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 892,720. MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 24,639. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,639. FORM 990, PART XI, LINE 9: CHANGE IN DISCOUNT ON LT PLEDGES -574,256. FORM 990, PAGE 11, QUESTION 2C THE PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR.