2026-05-15T08:00:16-05:00 2025-06-30 540737372 PBMARES LLP 701 TOWN CENTER DRIVE SUITE 802 NEWPORT NEWS VA 23606 990 2024-07-01 461110899 MUSCARELLE MUSEUM OF ART FOUNDATION MUSC 7572212717 PO BOX 8795 WILLIAMSBURG VA 23187 DAVID M BRASHEAR DIRECTOR 7572212717 2026-05-15 1 0 EDWARD T YODER CPA P00239134 7578731587 2026-05-15 X 2024 2025-03-06 01:10:19Z DAVID M BRASHEAR PO BOX 8795 WILLIAMSBURG VA 23187 5134327 0 X WWW.WM.EDU/MUSCARELLE/ X 2012 VA THE MISSION OF THE MUSCARELLE MUSEUM OF ART FOUNDATION IS TO PROVIDE FINANCIAL SUPPORT AND STRATEGIC GUIDANCE TO THE MUSCARELLE MUSEUM OF ART AT WILLIAM & MARY. THE MUSCARELLE MUSEUM OF ART IS LOCATED ON THE CAMPUS OF WILLIAM & MARY, AND SUPPORTS BOTH THE UNIVERSITY AND THE BROADER REGIONAL COMMUNITY IN THE EXPLORATION OF THE VISUAL ARTS. 29 29 0 100 0 0 6031793 2750995 0 228227 470258 264171 -102860 -73344 6399191 3170049 0 0 0 0 239928 218416 64275 0 71215 286438 13452869 590641 13671285 5808550 -10501236 13246946 4309057 632544 2171608 12614402 2137449 X THE MISSION OF THE MUSCARELLE MUSEUM OF ART IS TO FOSTER THE FULL INTEGRATION OF A DYNAMIC ART MUSEUM INTO THE LIFE AND LIBERAL ARTS MISSION OF WILLIAM & MARY AND TO SERVE AS A MODEL OF CURATORIAL EXCELLENCE AND A CATALYST FOR ART EXPLORATION AT WILLIAM & MARY AND IN THE SURROUNDING COMMUNITY. THE MUSCARELLE MUSEUM OF ART WILL PLAY A LEADERSHIP ROLE IN THE CREATION OF A VIBRANT NEW INTEGRATED ARTS COMPLEX AT WILLIAM & MARY. THE MUSCARELLE WILL BE AN IMPRESSIVE PORTAL TO A FACILITY THAT WILL ACCOMMODATE ALL PERFORMING AND FINE ARTS DEPARTMENTS, ENCOURAGE THE PARTICIPATION OF MANY OTHER UNIVERSITY DISCIPLINES, AND BRING TOGETHER THE CAMPUS AND THE LARGER COMMUNITY. 0 0 13206200 THE MUSCARELLE MUSEUM CARES FOR AND MANAGES THE COLLECTION AND COORDINATION OF TRAVELING EXHIBITIONS. THE MUSEUM INCURS COSTS FOR CONSERVATION, ACQUISITION, SHIPPING, AND CARE OF ARTWORK. 228227 THE MUSCARELLE MUSEUM OF ART PRESENTED EXHIBITS WHICH DERIVED INCOME FROM ADMISSIONS AS WELL AS EXHIBIT SALES. 13206200 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 19 0 1 0 0 0 0 0 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X MUSCARELLE MUSEUM OF ART FOUNDATION 7572212717 603 JAMESTOWN ROAD WILLIAMSBURG VA 23185 THOMAS W GILLMAN CHAIR 10.00 X X 0 0 0 JUDITH FOREHAND STARKEY VICE CHAIR 10.00 X X 0 0 0 TJ CARDWELL SECRETARY 10.00 X X 0 0 0 GRANT HAGEN TREASURER 10.00 X X 0 0 0 BETSY C ANDERSON TRUSTEE 1.00 X 0 0 0 MARI ANN BANKS TRUSTEE 1.00 X 0 0 0 SUSAN S CARRON TRUSTEE 1.00 X 0 0 0 DAVID CRANK TRUSTEE 1.00 X 0 0 0 ANN CRITCHFIELD TRUSTEE 1.00 X 0 0 0 ELIZABETH W DELK TRUSTEE 1.00 X 0 0 0 DANIEL A DUTCHER TRUSTEE 1.00 X 0 0 0 DAWN EDMISTON TRUSTEE 1.00 X 0 0 0 CARRIE O GARLAND TRUSTEE 1.00 X 0 0 0 BETSY HANLON TRUSTEE 1.00 X 0 0 0 JANE KAPLAN TRUSTEE 1.00 X 0 0 0 LEANNE D KURLAND TRUSTEE 1.00 X 0 0 0 ELAINE S MCBETH TRUSTEE 1.00 X 0 0 0 PENNY MEREDITH TRUSTEE 1.00 X 0 0 0 ANN B MILLIMAN TRUSTEE 1.00 X 0 0 0 PAULA MOORADIAN TRUSTEE 1.00 X 0 0 0 JOSEPH L MUSCARELLE TRUSTEE 1.00 X 0 0 0 TINA NOVOGRATZ TRUSTEE 1.00 X 0 0 0 JAMES D PENNY TRUSTEE 1.00 X 0 0 0 HELEN B REVELEY TRUSTEE 1.00 X 0 0 0 KATHLEEN M RING TRUSTEE 1.00 X 0 0 0 CHRISTINE C ROWLAND TRUSTEE 1.00 X 0 0 0 JANE Y SPURLING TRUSTEE 1.00 X 0 0 0 STEPHANIE TUTTLE TRUSTEE 1.00 X 0 0 0 BRITT H VAN DEUSEN TRUSTEE 1.00 X 0 0 0 DAVID M BRASHEAR PRESIDENT 10.00 30.00 X 0 202085 59720 0 202085 59720 0 0 1 0 0 345958 167697 2237340 167697 2750995 ADMISSIONS 713990 228227 228227 228227 264171 264171 1273672 1273672 0 522533 167697 508689 13844 13844 94729 181917 -87188 -87188 3170049 141039 0 278015 218416 32759 141796 43861 39805 39805 49847 48347 1500 11000 11000 30531 18437 12094 105218 101137 2859 1222 2750 2750 12169 12169 CONSTRUCTION EXPENSES 12490734 12490734 EXHIBIT STORAGE & EQUIP 227623 227623 MUSEUM SUPPORT 221151 52400 168751 FREIGHT, SHIPPING, & DE 162840 156285 6555 99201 64728 14896 19577 13671285 13206200 393870 71215 57964 86613 158103 523391 1894495 2378662 46029 75886 14939 61195 38498 2750 0 35748 11073946 1147562 1470 13246946 4309057 10356 74469 622188 2097139 632544 2171608 X 300229 326741 12314173 1810708 12614402 2137449 13246946 4309057 -10501236 24283 0 X 0 1 X 1 0 X 792349 2173226 1735625 6031793 2811525 13544518 792349 2173226 1735625 6031793 2811525 13544518 5214720 8329798 24999 76423 185620 470258 264171 1021471 14565989 0.57190 0.93450 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 509298 45920 277934 3372 273912 479606 29692 509298 462126 17480 479606 568569 -106443 462126 465398 103171 568569 1.00000 0 0 38498 2750 35748 35748 DUE TO COLLEGE OF WILLIAM AND MARY 2097139 2097139 X 3915938 24283 721606 745889 3170049 0 3170049 14392891 721606 721606 13671285 0 13671285 PART III, LINE 1A: THE FOUNDATION MAINTAINS SIGNIFICANT COLLECTIONS MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE AND ART OBJECTS THAT ARE HELD FOR EDUCATIONAL, RESEARCH, AND CURATORIAL PURPOSES. EACH OF THESE ITEMS IS CATALOGUED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. IN ACCODANCE WITH INDUSTRY STANDARDS, COLLECTION ITEMS ACQUIRED THROUGH PURCHASE OR DONATION ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENT OF ACTIVITIES. PROCEEDS FROM DEASSESSIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENTS OF ACTIVITIES BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS. PART III, LINE 4: THE MUSCARELLE MUSEUM OF ART FOUNDATION COLLECTION AUGMENTS THE MUSCARELLE MUSEUM OF ART COLLECTION. THE ORIGINS OF THE MUSCARELLE MUSEUM OF ART COLLECTION CAN BE TRACED TO 1732, WHEN THE THIRD EARL OF BURLINGTON GAVE THE COLLEGE OF WILLIAM & MARY A PORTRAIT OF THE PHYSICIST ROBERT BOYLE. SINCE THAT TIME, THE COLLECTION HAS GROWN CLOSE TO FIVE THOUSAND WORKS OF ART ENCOMPASSING A DIVERSE GROUP OF OBJECTS FROM ANTQUITY TO THE PRESENT, EASTERN AND WESTERN ART, AND EXAMPLES OF ALMOST EVERY MATERIAL AND MEDIUM. OF PARTICULARY NOTE ARE COLONIAL AMERICAN AND SEVENTEENTH AND EIGHTEENTH CENTURY ENGLISH PORTRAITS; A SURVEY COLLECTION OF ORIGINAL PRINTS AND DRAWINGS FROM THE SIXTEENTH THROUGH THE TWENTIETH CENTURIES REPRESENTING BOTH AMERICAN AND EUROPEAN ARTISTS, AS WELL AS A SELECTION OF JAPANESE PRINTS, A COLLECTION OF GERMAN EXPRESSIONIST WORKS BY HANS GROHS, AND THE JEAN OUTLAND CHRYSLER COLLECTION OF AMERICAN ABSTRACT EXPRESSIONISM INTERPRETED IN OILS, DRAWINGS, WATERCOLORS AND SCULPTURE. THE EXEMPT PURPOSES OF THE FOUNDATION ARE TO, INTER ALIA: I) TO ACCEPT, ACQUIRE, HOLD, INVEST, REINVEST, AND OTHERWISE DEAL WITH PROPERTY, BOTH REAL AND PERSONAL, TANGIBLE AND INTANGIBLE TO BE USED FOR THE BENEFIT OF THE MUSEUM; AND II) TO PROMOTE THE OBJECTIVES OF THE MUSEUM THROUGH ADVICE ABOUT ADMINISTRATION AND DEFINITION OF ITS COLLECTION AND THROUGH ACQUISITION OF WORKS OF ART. ART HELD IN THE MUSCARELLE MUSEUM OF ART FOUNDATION DIRECTLY SUPPORTS THE MISSION OF THE FOUNDATION AND OF THE MUSEUM TO FOSTER THE FULL INTEGRATION OF A DYNAMIC ART MUSEUM INTO THE LIFE AND LIBERAL ARTS MISSION OF THE COLLEGE OF WILLIAM & MARY AND TO SERVE AS A MODEL OF CURATORIAL EXCELLENCE AND A CATALYST FOR ART EXPLORATION AT THE COLLEGE AND IN THE SURROUNDING COMMUNITY. PART V, LINE 4: THE QUASI-ENDOWMENT FUNDS WILL BE USED FOR EXHIBITIONS AND TO FUND EXHIBITION RELATED COSTS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES AS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND THE TAX STATUTES OF THE COMMONWEALTH OF VIRGINIA. THE INTERNAL REVENUE SERVICE HAS ALSO DETERMINED THAT THE FOUNDATION IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). INCOME FROM CERTAIN ACTIVITIES, NOT DIRECTLY RELATED TO ITS TAX-EXEMPT PURPOSE, IS SUBJECT TO FEDERAL INCOME TAXES. FOR THE YEAR ENDED JUNE 30, THE FOUNDATION DID NOT HAVE ANY SIGNIFICANT INCOME FROM SUCH ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 508,689. COST OF GOODS SOLD 181,917. UNCOLLECTIBLE PLEDGES 31,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 508,689. COST OF GOODS SOLD 181,917. UNCOLLECTIBLE PLEDGES 31,000. X 0 CLASSIC EVENTS 249 HILLCREST DRIVE SOUTHERN SHORES NC 27949 COORDINATE AND PLAN AUCTION 0 255242 54041 201201 255242 54041 201201 WINE AND ROSES 434988 434988 454648 AUCTION 255242 167697 87545 54041 690230 167697 522533 508689 508689 13844 0 0 0 0 0 0 0 0 0 DAVID M BRASHEAR PRESIDENT 0 202085 0 0 0 0 0 17637 0 42083 0 261805 0 0 X AUCTION ITEMS 305 167697 ESTIMATED FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN IDEPENDENT ACCOUNTING FIRM AND APPROVED BY MUSCARELLE MUSEUM OF ART FOUNDATION'S FINANCE AND AUDIT COMMITTEES. THE FORM IS THEN MADE AVAILABLE TO THE ENTIRE BOARD. FORM 990, PART VI, SECTION B, LINE 12C TRUSTEES MUST ANNUALLY ACKNOWLEDGE THE CONFLICT OF INTEREST POLICY AND DISCLOSE ANY CONFLICTS TO THE ENTIRE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S CEO IS PAID BY A RELATED ORGANIZATION. COMPENSATION IS DETERMINED USING COMPARABILITY DATA AND IS REVIEWED AND APPROVED BY INDEPENDENT PERSONS. THE ORGANIZATION ALSO DETERMINES COMPENSATION FOR OTHER OFFICERS USING COMPARABILITY DATA. OTHER OFFICER COMPENSATION IS REVIEWED AND APPROVED BY INDEPENDENT PERSONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC THE COLLEGE OF WILLIAM AND MARY 540 LANDRUM DRIVE WILLIAMSBURG VA 23185 546001718 PUBLIC COLLEGE VA 115 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 THE COLLEGE OF WILLIAM AND MARY E 2097139 BALANCE OF LOAN THE COLLEGE OF WILLIAM AND MARY N 221151 REIMBURSEMENT AMOUNT THE COLLEGE OF WILLIAM AND MARY O 59326 PAYROLL REIMBURSEMENT AMOUNT