2026-05-13T12:39:32-05:00 2025-06-30 946214841 ARMANINO ADVISORY LLC 2700 CAMINO RAMON STE 350 SAN RAMON CA 945835004 990 2024-07-01 941704765 ASIAN ART MUSEUM FOUNDATION OF SAN FRANCISCO ASIA 4155813500 200 LARKIN STREET SAN FRANCISCO CA 941024734 MATTHEW AYOTTE CONTROLLER 4155813730 2026-05-13 1 1 KATY BROWN P00650274 9257902600 2026-05-13 2024 2025-03-06 01:10:19Z SOYOUNG LEE 200 LARKIN STREET SAN FRANCISCO CA 941024734 58718209 0 X WWW.ASIANART.ORG X 1969 CA THE ASIAN ART MUSEUM CELEBRATES, PRESERVES, AND PROMOTES ASIAN AND (CONTINUED ON SCHEDULE O)ASIAN AMERICAN ART AND CULTURES FOR LOCAL AND GLOBAL AUDIENCES. WE PROVIDE A DYNAMIC FORUM FOR EXCHANGING IDEAS, INVITING COLLABORATION, AND FUELING IMAGINATION TO DEEPEN UNDERSTANDING AND EMPATHY AMONG PEOPLE OF ALL BACKGROUNDS. 41 41 155 203 13082 9224 26422773 20319541 3205807 1239267 3707326 4103239 1936382 2417447 35272288 28079494 0 0 0 0 19602099 20748632 0 0 3552113 20198946 18689307 39801045 39437939 -4528757 -11358445 242978570 236314262 75302031 72059838 167676539 164254424 X THE ASIAN ART MUSEUM CELEBRATES, PRESERVES, AND PROMOTES ASIAN AND ASIAN AMERICAN ART AND CULTURES FOR LOCAL AND GLOBAL AUDIENCES. WE PROVIDE A DYNAMIC FORUM FOR EXCHANGING IDEAS, INVITING COLLABORATION, AND FUELING IMAGINATION TO DEEPEN UNDERSTANDING AND EMPATHY AMONG PEOPLE OF ALL BACKGROUNDS. 0 0 24636093 1436220 THE MUSEUM IS ONE OF SAN FRANCISCO'S PREMIER ARTS INSTITUTIONS AND HOME TO A WORLD-RENOWNED COLLECTION OF MORE THAN 18,000 ART TREASURES SPANNING 6,000 YEARS OF HISTORY AND REPRESENTING COUNTRIES AND CULTURES THROUGHOUT ASIA. THE COLLECTION'S SCOPE AND BREADTH ENABLE THE MUSEUM TO INTRODUCE ALL OF THE MAJOR TRADITIONS OF ASIAN ART AND CULTURE, AS WELL AS THE WORK OF MANY ASIAN AMERICAN ARTISTS. MORE THAN 2,500 ARTWORKS FROM THE COLLECTION ARE GENERALLY ON VIEW IN THE MUSEUM'S 33 COLLECTION GALLERIES, WITH ANOTHER 500 OBJECTS REMOVED AND REFRESHED WITH WORKS FROM STORAGE EACH YEAR. 469775 7579 THE MUSEUM PROVIDES A BROAD RANGE OF PROGRAMS THAT EXPLORE THE CULTURES REPRESENTED IN THE MUSEUM'S COLLECTION AND EXHIBITIONS, AND WHICH ARE DESIGNED TO REACH ALL LEVELS OF EDUCATION (K-12, COLLEGE, AND ADULT) AND AWARENESS OF ART (NOVICE THROUGH EXPERT). FREE DOCENT-LED TOURS OF THE COLLECTION GALLERIES AND SPECIAL EXHIBITIONS ARE CONDUCTED THROUGHOUT THE DAY. THE MUSEUM'S STORYTELLING CORPS OFFERS ENTERTAINING AND EDUCATIONAL PROGRAMS FOR CHILDREN AND ADULTS RELATING TO ARTWORKS ON VIEW. SCHOOL PROGRAMS INCLUDE A VARIETY OF INDUSTRY-BASED ACTIVITIES: ALL CLASS TOURS ARE INTERACTIVE AND EMPHASIZE OBSERVATION SKILLS, CRITICAL THINKING, GROUP WORK, AND PEER PRESENTATIONS. 1775397 221614 PHOENIX KINGDOMS: THE LAST SPLENDOR OF CHINA'S BRONZE AGEAPR 19, 2024 - JUL 22, 2024RISING FROM THE ASHES OF CONQUEST, TWO BRILLIANT BUT FORGOTTEN CULTURES CLAIM THEIR RIGHTFUL PLACES IN CHINA'S HISTORY. YUAN GOANG-MING: EVERYDAY WARAPR 3, 2025 - AUG 4, 2025A LEADING VIDEO ARTIST OFFERS A DREAMLIKE LOOK AT AN INCREASINGLY UNSETTLING WORLD. HALLYU! THE KOREAN WAVESEP 27, 2024 - JAN 6, 2025DISCOVER WHY THE WORLD CAN'T GET ENOUGH K-POP, KOREAN DRAMAS, AND KIMBAP. 26881265 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 52 0 1 155 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 41 41 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 CA X X MATTHEW AYOTTE CONTROLLER 4155813500 200 LARKIN STREET SAN FRANCISCO CA 941024734 SALLE YOO CHAIR 1.00 X X 0 0 0 ANJALI PICHAI PRESIDENT 1.00 X X 0 0 0 GORRETTI LO LUI VICE PRESIDENT OF COMMUNITY 1.00 X X 0 0 0 KENNETH P WILCOX TREASURER, VP OF FINANCE 1.00 X X 0 0 0 MICHELLE S TAI SECRETARY, VP OF COLLECTIONS 1.00 X X 0 0 0 PAUL ANTEBI TRUSTEE 1.00 X 0 0 0 CORI BATES TRUSTEE 1.00 X 0 0 0 ELIZA CASH TRUSTEE 1.00 X 0 0 0 HUIFEN CHAN TRUSTEE 1.00 X 0 0 0 TIFFANY CHANG TRUSTEE 1.00 X 0 0 0 CLAUDINE CHENG TRUSTEE 1.00 X 0 0 0 SANDRA CHEUNG TRUSTEE 1.00 X 0 0 0 KAPIL CHHIBBER TRUSTEE (THRU 01/24) 1.00 X 0 0 0 LILLIAN CHUN TRUSTEE 1.00 X 0 0 0 YOGEN DALAL TRUSTEE 1.00 X 0 0 0 THAO DODSON TRUSTEE 1.00 X 0 0 0 DIXON R DOLL TRUSTEE 1.00 X 0 0 0 FRED EYCHANER TRUSTEE 1.00 X 0 0 0 GLORIA GARAVENTA TRUSTEE (THRU 04/25) 1.00 X 0 0 0 MIMI GARDNER GATES TRUSTEE (THRU 09/24) 1.00 X 0 0 0 GURMEET GIGI GULATI TRUSTEE 1.00 X 0 0 0 MARSHA VARGAS HANDLEY TRUSTEE 1.00 X 0 0 0 MARTHA SAM HERTELENDY TRUSTEE 1.00 X 0 0 0 CHARLES HUANG TRUSTEE 1.00 X 0 0 0 MARIE OH HUBER TRUSTEE 1.00 X 0 0 0 TIMOTHY F KAHN TRUSTEE 1.00 X 0 0 0 CHOONGJA MARIA KAHNG TRUSTEE 1.00 X 0 0 0 JENNIFER KAO TRUSTEE (THRU 04/25) 1.00 X 0 0 0 TRAVIS KIYOTA TRUSTEE 1.00 X 0 0 0 CHONG-MOON LEE TRUSTEE 1.00 X 0 0 0 FRED M LEVIN TRUSTEE 1.00 X 0 0 0 DIPTI MATHUR TRUSTEE 1.00 X 0 0 0 MARY MEAD TRUSTEE 1.00 X 0 0 0 AMANDA MINAMI TRUSTEE 1.00 X 0 0 0 HEMA SAREEN MOHAN TRUSTEE 1.00 X 0 0 0 NANCI NISHIMURA TRUSTEE 1.00 X 0 0 0 VARSHA RAO TRUSTEE 1.00 X 0 0 0 VIJAY SHRIRAM TRUSTEE 1.00 X 0 0 0 ANTHONY SUN TRUSTEE 1.00 X 0 0 0 MINDY LIN SUN TRUSTEE 1.00 X 0 0 0 ANN TANENBAUM TRUSTEE 1.00 X 0 0 0 INA GOODWIN TATEUCHI TRUSTEE 1.00 X 0 0 0 AKIKO YAMAZAKI TRUSTEE 1.00 X 0 0 0 RICHARD YEN TRUSTEE 1.00 X 0 0 0 HANSONG ZHANG TRUSTEE 1.00 X 0 0 0 JAY XU DIRECTOR & CEO (THRU 04/25) 40.00 X 661595 0 55363 SOYOUNG LEE DIRECTOR & CEO 40.00 X 0 0 0 SARA LEE CHIEF FINANCIAL & ADMIN OFFICER 40.00 X 270981 0 13786 ROBERT MINTZ CHIEF CURATOR 40.00 X 233711 0 37320 BANAFSHEH PERRONE CHIEF IMPACT OFFICER 40.00 X 239572 0 28807 EMIKO K USUI CHIEF EXPERIENCE OFFICER 40.00 X 249948 0 18151 KO KO ZIN BUILDING & GROUNDS MAINTENANCE SUPERINTENDENT 40.00 X 193313 0 55446 CALEN MCELDOWNEY DIRECTOR OF SECURITY & FACILITIES 40.00 X 196286 0 40533 LIA M MAKSOUD DIRECTOR OF HUMAN RESOURCES 40.00 X 175166 0 21108 JODY HART DIRECTOR OF IT 40.00 X 164657 0 31447 KIRSTEN WOLFE DIRECTOR OF MARKETING AND COMMUNICATIONS 40.00 X 165592 0 10899 2550821 0 312860 35 0 1 0 MASTERPIECE INTERNATIONAL LTD 39 BROADWAY 1410 NEW YORK NY 10006 INTERNATIONAL SHIPPING 723424 HUBEI PROVINCIAL MUSEUM 160 DONGHU RD WUHAN CH 440077 EXHIBITION BORROWING FEES 500000 MUSE SF 573 AILEEN ST OAKLAND CA 94609 EXHIBITION DESIGN/INSTALLATION SERVICES 365403 ARCHITECTURAL PLASTICS INC 1299 N MCDOWELL BLVD PETALUMA CA 94954 EXHIBITION DESIGN/INSTALLATION SERVICES 359587 LENAT & PARTNERS INC 522 EDINBURGH ST SAN MATEO CA 94402 ADVERTISING 235276 19 1125218 994212 11338159 6861952 169922 20319541 ADMISSION REVENUE 713990 1128994 1128994 ARTWORK EXHIBITION LOA 713990 100000 100000 OTHER REVENUE 713990 7579 7579 TOUR REVENUE 713990 2205 2205 PUBLICATION REVENUE 713990 489 489 1239267 2841088 13082 2828006 3986 3986 553008 173500 379508 379508 379508 30327420 29065269 1262151 1262151 1262151 397210 994212 879747 -482537 -482537 946345 520199 426146 426146 LEGAL SETTLEMENT 900099 2000000 2000000 MISCELLANEOUS INCOME 900099 54457 54457 CAFE 722515 35887 35887 2090344 28079494 1665413 13082 6081458 1374326 822346 417449 134531 14649292 10018489 3132532 1498271 1207623 836861 234588 136174 2365069 1708668 406690 249711 1152322 810273 198272 143777 117757 47445 64593 5719 142275 35569 106706 169189 169189 1526428 891926 407552 226950 557067 557067 496938 281721 183676 31541 695998 363845 327934 4219 2061026 759952 1301074 253757 243574 499 9684 21322 11358 5444 4520 3272014 2204953 734779 332282 4966346 3360948 1098910 506488 831718 706755 124963 BAD DEBT EXPENSES 905384 905384 SUPPLIES 841980 796061 45715 204 ACQUISITIONS 707971 685442 4556 17973 SHIPPING/FREIGHT 403851 309234 9076 85541 718286 523394 30364 164528 39437939 26881265 9004561 3552113 7765 8092 3825126 2073085 4541606 2736232 568000 505248 498271 321758 201479599 92953162 112744157 108526437 92704280 92897880 28064716 29220881 24649 24649 242978570 236314262 3928627 3518626 217554 241525 71155850 68299687 75302031 72059838 X 78683864 67633916 88992675 96620508 167676539 164254424 242978570 236314262 -11358445 7936330 0 X 0 1 X 1 0 X 24997838 28174980 26166275 26422773 20319541 126081407 24997838 28174980 26166275 26422773 20319541 126081407 3510378 122571029 1584345 1885162 2493055 3228157 3385000 12575719 17747 16720 15966 16957 13082 80472 712 46830 188073 222997 2090344 2548956 141286554 14917162 0.86750 0.89470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 87065002 1895531 4560466 3203193 90317806 78040731 6289327 5626678 2891734 87065002 78956377 2770393 -804129 2881910 78040731 82553706 6345697 -6697440 3246586 78955377 71538541 -1479384 14753858 2259309 82553706 0.00000 0.69130 0.30870 0 0 183545533 76679938 106865595 13941359 12389129 1552230 3992707 3884095 108612 108526437 INVESTMENTS - LIMITED PARTNERSHIP 4266065 F INVESTMENTS - HELD IN TRUST 971021 F INVESTMENTS - HEDGE FUND INVESTMENTS 424411 F INVESTMENTS - OTHER INVESTMENTS 23559384 F 29220881 X 35994498 7936330 147863 8084193 27910305 169189 169189 28079494 39418061 149311 149311 39268750 169189 169189 39437939 PART III, LINE 1A: THE MUSEUM'S PERMANENT COLLECTIONS REPRESENT MORE THAN 40 ASIAN COUNTRIES AND SPAN 6,000 YEARS OF ASIAN HISTORY. OBJECTS ARE HELD FOR EDUCATIONAL, RESEARCH, AND CURATORIAL PURPOSES. UNDER THE MUSEUM'S COLLECTIONS MANAGEMENT POLICY, ALL OBJECTS ARE CATALOGUED, PRESERVED, AND PROVIDED WITH ONGOING CARE. ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED REGULARLY. OBJECTS MAY BE DEACCESSIONED FROM THE PERMANENT COLLECTION IN ACCORDANCE WITH THE MUSEUM'S COLLECTIONS MANAGEMENT POLICY. PROCEEDS FROM DEACCESSIONED ITEMS ARE USED TO ACQUIRE OTHER OBJECTS OR FOR THE DIRECT MAINTENANCE OF COLLECTION ITEMS. TITLE TO THE PERMANENT COLLECTION RESTS WITH THE CITY. IF ACCEPTED INTO THE PERMANENT COLLECTION, DONATED ART OBJECTS BECOME THE PROPERTY OF THE CITY. IN CONFORMITY WITH THE PRACTICE GENERALLY FOLLOWED BY MUSEUMS, NO VALUE IS ASSIGNED TO THE COLLECTIONS IN THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. PART III, LINE 4: THE MUSEUM'S PERMANENT COLLECTIONS REPRESENT MORE THAN 40 ASIAN COUNTRIES AND SPAN 6,000 YEARS OF ASIAN HISTORY. OBJECTS ARE FOR EDUCATIONAL, RESEARCH, AND CURATORIAL PURPOSES. UNDER THE MUSEUM'S COLLECTIONS MANAGEMENT POLICY, ALL OBJECTS ARE CATALOGUED, PRESERVED, AND PROVIDED WITH ONGOING CARE. PART V, LINE 4: THE MUSEUM'S ENDOWMENT FUND CONSISTS OF INDIVIDUAL DONOR-RESTRICTED ENDOWMENT FUNDS. THE NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. AMOUNTS WITHDRAWN FROM THE ENDOWMENT UNDER THE ENDOWMENT SPENDING POLICY ARE FOR THE MUSEUM'S PROGRAMS AND OPERATING EXPENSES, ALLOCATED IN ACCORDANCE WITH THE RESTRICTIONS PERTAINING TO THOSE FUNDS. THE TIMING AND AMOUNTS OF WITHDRAWALS ARE DETERMINED BY THE MUSEUM'S MANAGEMENT IN CONSULTATION WITH THE BUDGET AND FINANCE COMMITTEE AND THE EXECUTIVE COMMITTEE. INVESTMENT-RELATED EXPENSES ARE CHARGED SEPARATELY AGAINST THE ENDOWMENT. PART X, LINE 2: THE MUSEUM HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED TAX-EXEMPT ORGANIZATION THAT IS EXEMPT FROM FEDERAL TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND FROM CALIFORNIA FRANCHISE AND/OR INCOME TAXES UNDER REVENUE AND TAXATION CODE SECTION 23701(D). THE MUSEUM BELIEVES THAT NO LIABILITIES ARE REQUIRED TO ACCRUE FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2025. PART XI, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT EXPENSES -905,384. RENTAL EXPENSES 173,500. DIRECT FUNDRAISING EXPENSES 879,747. PART XII, LINE 2D - OTHER ADJUSTMENTS: MISC EXPS 1,448. RENTAL EXPENSES 173,500. BAD DEBT EXPENSES -905,384. DIRECT FUNDRAISING EXPENSES 879,747. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 INVESTMENTS 2063579 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 1891321 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 INVESTMENTS 8951457 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 0 INVESTMENTS 210873 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 INVESTMENTS 880473 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 INVESTMENTS 17508 0 0 0 0 0 0 14015211 0 14015211 0 0 1 1 1 0 HALLYU! NIGHTS GALA, OCTOBER 2024 1391422 994212 397210 321604 16275 541868 1391422 994212 397210 321604 16275 541868 879747 -482537 X X X 0 0 0 0 0 0 0 0 0 JAY XU DIRECTOR & CEO (THRU 04/25) 577892 0 83703 0 0 0 44241 0 11122 0 716958 0 0 0 SARA LEE CHIEF FINANCIAL & ADMIN OFFICER 270981 0 0 0 0 0 13786 0 0 0 284767 0 0 0 ROBERT MINTZ CHIEF CURATOR 233711 0 0 0 0 0 35711 0 1609 0 271031 0 0 0 BANAFSHEH PERRONE CHIEF IMPACT OFFICER 239572 0 0 0 0 0 12014 0 16793 0 268379 0 0 0 EMIKO K USUI CHIEF EXPERIENCE OFFICER 249948 0 0 0 0 0 0 0 18151 0 268099 0 0 0 KO KO ZIN BUILDING & GROUNDS MAINTENANCE SUPER 193313 0 0 0 0 0 29467 0 25979 0 248759 0 0 0 CALEN MCELDOWNEY DIRECTOR OF SECURITY & FACILITIES 196286 0 0 0 0 0 29754 0 10779 0 236819 0 0 0 LIA M MAKSOUD DIRECTOR OF HUMAN RESOURCES 175166 0 0 0 0 0 8988 0 12120 0 196274 0 0 0 JODY HART DIRECTOR OF IT 164657 0 0 0 0 0 8519 0 22928 0 196104 0 0 0 KIRSTEN WOLFE DIRECTOR OF MARKETING AND COMMUNICAT 165592 0 0 0 0 0 1635 0 9264 0 176491 0 0 0 A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY 352273601 2011-02-11 96985000 REFUND BONDS ISSUED 2/3/2005 0 0 0 A 28480000 96985000 6363630 1439 96983561 2016 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 1 MORGAN GUARANTY TRUST CO 29.000000000000 1 0 1 A 1 SCHEDULE K, PART IV: INTERIM ARBITRAGE REBATE COMPUTATION WAS PERFORMED: 8/27/25 SCHEDULE K, PART IV, LINE 5: THE GROSS PROCEEDS WERE INVESTED INTO 2 GICS. NAME OF THE PROVIDER: .MORGAN GUARANTY TRUST CO;BANK OF AMERICA TERM OF GIC: RESERVE-29YR; CONSTRUCTION-2YR X 7 169922 PUBLICLY TRADED EXCHANGE 0 0 1 0 PART I, COLUMN (B): THIS NUMBER REPRESENTS THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE OFFICE MAKES AVAILABLE AND SENDS THE PUBLIC DISCLOSURE COPY OF THE FORM 990 TO THE AUDIT COMMITTEE OF THE FOUNDATION BOARD FOR REVIEW AND APPROVAL BEFORE FILING. WE ALSO SEND THE PUBLIC DISCLOSURE COPY OF THE FORM 990 TO THE FULL FOUNDATION BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY COVERS BOARD MEMBERS AND STAFF. TRUSTEES ARE ASKED TO INFORM THE BOARD IN ADVANCE AND AS FULLY AS PRACTICABLE OF ANY TRANSACTIONS WITH THE MUSEUM OR THROUGH A BUSINESS RELATIONSHIP WITH AN ASIAN ART COMMISSIONER OR A FOUNDATION TRUSTEE IN WHICH THEY HAVE AN ECONOMIC INTEREST IN ORDER FOR THE TRUSTEES TO REVIEW AND APPROVE OR DISAPPROVE THE TRANSACTION. IF A CONFLICT IS DETERMINED TO EXIST, THE CHAIRPERSON OF THE GOVERNING BOARD OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE INDEPENDENT BOARD'S COMPENSATION COMMITTEE MEMBERS REVIEW EXTERNAL BENCHMARKS, DELIBERATE AND DISCUSS THE DETAILS OF RENEWAL CONTRACTS, AND DOCUMENT ALL DECISIONS ON THE CEO'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIAL STATEMENTS AND THE PUBLIC DISCLOSURE COPY OF FORM 990S ARE POSTED TO THE ASIAN ART MUSEUM WEBSITE. ALL OTHER INFORMATION IS PROVIDED TO THE PUBLIC UPON REQUEST. CHARITABLE REMAINDER TRUSTS (3) INVESTMENT CA N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0