2025-07-15T09:41:03-05:00 2024-09-30 840803727 REESE HENRY & COMPANY INC 400 E MAIN ST STE 2 ASPEN CO 81611 990 2023-10-01 841515243 ASPEN ART MUSEUM FOUNDATION ASPE 9709258050 637 EAST HYMAN AVENUE ASPEN CO 81611 AMNON RODAN TREASURER 9709258050 2025-07-07 1 1 MARK S KAVASCH CPA P00107511 9709253771 2023 2025-03-06 01:10:19Z AMNON RODAN 637 EAST HYMAN AVENUE ASPEN CO 81611 2320092 0 X N/A X 1999 CO ESTABLISHMENT AND MAINTENANCE OF AN ENDOWMENT FUND EXCLUSIVELY FOR THE ASPEN ART MUSEUM 5 5 0 4 0 0 982807 1483279 0 0 419256 781346 -72268 -98929 1329795 2165696 1628000 2355671 0 0 0 476900 0 0 554500 0 162600 1628000 2995171 -298205 -829475 38571318 44350193 1076241 1877468 37495077 42472725 ESTABLISHMENT AND MAINTENANCE OF AN ENDOWMENT FUND EXCLUSIVELY FOR THE ASPEN ART MUSEUM 0 0 2355671 2355671 ESTABLISH AND MAINTAIN AN ENDOWMENT FUND EXCLUSIVELY FOR THE BENEFIT OF THE ASPEN ART MUSEUM. 2355671 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 5 1 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 CO X X NICOLA LEES 9709258050 637 E HYMAN AVENUE ASPEN CO 81611 JUSTIN DOUGLAS RESIGNED 111223 PRESIDENT 4.00 4.00 X X 0 0 0 JOE FELSON VICE-PRESIDENT 2.00 X X 0 0 0 MELONY LEWIS SECRETARY 2.00 2.00 X X 0 0 0 AMNON RODAN TREASURER 2.00 2.00 X X 0 0 0 NICOLA LEES EX OFFICIO MEMBER 4.00 60.00 X 0 631952 0 0 631952 0 0 0 1 0 0 1483279 1483279 781346 781346 55467 154396 -98929 -98929 -98929 2165696 0 0 682417 2355671 2355671 476900 476900 55000 55000 22600 22600 BAD DEBT 85000 85000 2995171 2355671 85000 554500 1609145 2944095 4512884 3976100 3151 21000 2178109 384759 1847802 1793350 28329384 30922787 2268952 4692861 38571318 44350193 329762 1139490 746479 737978 1076241 1877468 X 780764 1006630 36714313 41466095 37495077 42472725 38571318 44350193 -829475 5823738 -16615 0 X 0 1 X 1 0 X X 1 ASPEN ART MUSEUM 840746671 7 1 2355671 0 1 2355671 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36236963 1073216 7118721 2910171 41518729 33669250 982807 3212906 1628000 36236963 39767568 327470 -4829963 1595825 33669250 34296737 2858660 3852171 1240000 39767568 32712495 459532 2339710 1215000 34296737 0.01000 0.99000 0 0 2178109 384759 1793350 1793350 INVESTMENTS AT NET ASSET VALUE 4692861 C 4692861 X 8127215 5823738 5823738 2303477 16615 -154396 -137781 2165696 3149567 154396 154396 2995171 0 2995171 PART V, LINE 4: THE ENDOWMENT CONSISTS OF INDIVIDUAL FUNDS ESTABLISHED BY DONORS TO PROVIDE ANNUAL FUNDING FOR SPECIFIC ACTIVITIES AND GENERAL OPERATIONS OF ASPEN ART MUSEUM. ENDOWMENT FUND EARNINGS ARE EITHER RESTRICTED OR UNRESTRICTED BASED ON THE DONOR'S REQUEST. RESTRICTED FUNDS INCLUDE EXHIBITION COSTS, LECTURE SERIES, VISITING ARTISTS, DIRECTOR COSTS, LATIN AMERICAN ART OUTREACH, ROOF DECK EXHIBITION COSTS, AND PUBLICATIONS. THE UNRESTRICTED ENDOWMENT FUND ALLOWS FOR EARNINGS TO BE USED FOR GENERAL MUSEUM PURPOSES. PART X, LINE 2: ASPEN ART MUSEUM AND ASPEN ART MUSEUM FOUNDATION ARE ORGANIZED AS COLORADO NONPROFIT CORPORATIONS AND HAVE BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3), QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION, AND HAVE BEEN DETERMINED NOT TO BE PRIVATE FOUNDATIONS. EACH ENTITY IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. AS A WHOLLY OWNED SUBSIDIARY OF THE FOUNDATION, 81611 PROPERTIES WAS ESTABLISHED SOLELY FOR THE PURPOSE OF OWNING AND HOLDING EMPLOYEE HOUSING PROPERTIES IN ACCORDANCE WITH THE ASPEN/PITKIN COUNTY HOUSING AUTHORITY AND IS INCLUDED IN THE FOUNDATION'S FORM 990. THE ENTITIES ARE SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. EACH ENTITY HAS DETERMINED IT IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAS NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990T) WITH THE IRS. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED WITH REVENUE ON FORM 990 -154,396. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED WITH REVENUE ON FORM 990 154,396. 1 ASPEN ART MUSEUM 637 E HYMAN AVENUE ASPEN CO 81611 840746671 501(C)(3) 2355671 0 CASH MUSEUM OPERATIONS PART I, LINE 2: ENDOWMENT FUND DRAW REQUESTS (GRANTS) TO THE MUSEUM ARE REVIEWED BY THE BOARD OF TRUSTEES AND ARE REQUIRED TO BE THE LESSOR OF THE AVERAGE VALUE OF THE FUND AS OF DECEMBER 31 OF EACH OF THE PRECEDING 3 YEARS OR THE AMOUNTS REPORTED BY THE MUSEUM AS EXPENSES FOR THE DONOR DESIGNATION. REPORTS TO DONORS (IF REQUIRED) AND MUSEUM FINANCIAL STATEMENTS ARE USED TO VERIFY GRANT REQUESTS AND SHARED WITH THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES APPROVES GRANT REQUESTS ANNUALLY. 0 0 0 0 0 0 0 0 0 NICOLA LEES EX OFFICIO MEMBER 0 631952 0 0 0 0 0 0 0 0 0 631952 0 0 PART I, LINE 3 THE FOUNDATION RELIED ON A RELATED ORGANIZATION THAT USED ONE OR MORE OF THESE METHODS TO ESTABLISH THE COMPENSATION OF THE EX OFFICIO MEMBER, WHO IS THE CHIEF EXECUTIVE OFFICER/DIRECTOR OF THE ASPEN ART MUSEUM. FORM 990, PART VI, SECTION A, LINE 2 JUSTIN DOUGLAS, MELONY LEWIS, JOE FELSON, AND AMNON RODAN ALSO SERVE AS BOARD MEMBERS OF A RELATED TAX-EXEMPT ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES OF THE ASPEN ART MUSEUM SHALL APPROVE THE APPOINTMENT OF THE BOARD OF DIRECTORS OF THE FOUNDATION. PER THE BYLAWS OF THE ASPEN ART MUSEUM FOUNDATION, THE MAJORITY OF THE POSITIONS ON THIS BOARD ARE PRE-SET BASED ON SPECIFIC ROLES WITH THE ASPEN ART MUSEUM'S BOARD OF TRUSTEES AS WELL AS THE MUSEUM'S NATIONAL COUNCIL. FORM 990, PART VI, SECTION A, LINE 8B THE FOUNDATION DOES NOT HAVE ANY COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND FORM 990 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. 81611 PROPERTIES LLC 637 E HYMAN AVENUE ASPEN CO 81611 452429880 HOLDS TITLE TO REAL ESTATE CO 380530 1804099 ASPEN ART MUSEUM FOUNDATION ASPEN ART MUSEUM 637 E HYMAN AVENUE ASPEN CO 81611 840746671 ART MUSEUM CO 501(C)(3) LINE 7 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 ASPEN ART MUSEUM Q 325063 CASH TRANSFERRED ASPEN ART MUSEUM B 2030608