2026-01-30T14:38:00-06:00 2025-06-30 161131146 Bonadio & Co LLP 2711 Centerville Road Suite 100 Wilmington DE 19808 990 2024-07-01 516020908 Brandywine Conservancy & Museum of Art BRAN 6103882700 PO Box 141 Chadds Ford PA 19317 Karl Malkin CFO 6103882700 2026-01-27 1 1 Peter S Kennedy CPA P00571422 3026566632 2026-01-27 2024 2025-03-06 01:10:19Z Karl Malkin PO Box 141 Chadds Ford PA 19317 157600573 0 X WWW.BRANDYWINE.ORG X 1967 DE The Brandywine Conservancy & Museum of Art preserves and presents elements of art and nature that highlight the extraordinary beauty of the Brandywine region in Pennsylvania and Delaware. The Brandywine Conservancy protects and conserves the land, water, natural, and cultural resources of the Brandywine-Christina watershed. The Brandywine Museum of Art engages audiences through its presentation and interpretation of American art with a particular focus on the Wyeth family and other artists of the Brandywine region. 26 26 176 347 0 0 17680729 19911646 1335619 1342989 2514674 20842973 516397 610240 22047419 42707848 0 0 0 0 7938888 8299170 0 0 1759217 6899271 7588887 14838159 15888057 7209260 26819791 188349394 208670282 6522592 7166827 181826802 201503455 X The Brandywine Conservancy & Museum of Art preserves and presents elements of art and nature that highlight the extraordinary beauty of the Brandywine region in Pennsylvania and Delaware. The Brandywine Conservancy protects and conserves the land, water, natural, and cultural resources of the Brandywine-Christina watershed. The Brandywine Museum of Art engages audiences through its presentation and interpretation of American art with a particular focus on the Wyeth family and other artists of the Brandywine region. 0 0 6953634 1801751 The Brandywine Museum of Art engages audiences through its presentation and interpretation of American art with a particular focus on the Wyeth family and other artists who lived and worked in the Brandywine Valley region. Since its founding in 1971, the Museum has assembled a collection of over 4,000 objects from the mid-nineteenth century to the present with major holdings of landscape and still-life painting, illustration, and paintings by three generations of the Wyeth family. The Museum has a distinguished program of temporary exhibitions and publications that have made significant contributions to scholarship in the field of American art. In addition to its collection, the Brandywine owns and makes open to the public seasonally three historic properties, all designated National Historic Landmarks, that include the studios of N. C. and Andrew Wyeth. 4848744 277194 The Brandywine Conservancy (the Conservancy) works for preservation and wise management of natural, historic, and scenic resources of the Brandywine Valley and surrounding areas with particular and strong emphasis on the preservation of land, water supplies and agriculture. Through this program, the Conservancy acquires conservation easements on open spaces and often on historic lands and, as of this filing, has 514 easements which are regularly monitored to assure landowner's compliance with the restrictions in each easement. The program aids municipal governments in the region on environmental issues such as storm water management, ordinances of various types affecting land and water resources, and land use planning. The Conservancy owns more than 3,009 acres of land which it carefully manages to help preserve land and water resources and to serve as models of high standards in the stewardship of natural and agricultural lands. 11802378 1 1 0 0 0 0 1 1 0 1 1 1 0 0 1 0 0 1 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 149 0 1 176 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 26 26 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X Brandywine Conservancy & Museum of Art Department of Finance & Admi 6103882700 PO BOX 141 CHADDS FORD PA 19317 Cuyler H Walker Chairman 10.00 2.00 X X 0 0 0 Dorothy A Matz Vice-Chair & Chair, Museum Comm. 1.00 X X 0 0 0 Gregory F Fields Vice Chair, Treasurer, Fin. Chair 1.00 X X 0 0 0 David Harrington Asst Treasurer & Chair, Invest Comm. 1.00 2.00 X X 0 0 0 W Donald Sparks II Esquire Secretary 1.00 2.00 X X 0 0 0 Jack M Hines Jr Chairman, Conservatory Com 1.00 2.00 X X 0 0 0 Pamela Biddle Trustee 1.00 X 0 0 0 Cynthia Borger Trustee 1.00 X 0 0 0 Mati Bonetti de Buccini Trustee 1.00 X 0 0 0 Romona Riscoe Benson Trustee 1.00 X 0 0 0 Roberts W Brokaw III Trustee 1.00 X 0 0 0 Clementina Brown Trustee 1.00 X 0 0 0 Sophie M Derrickson Trustee 1.00 X 0 0 0 Margaret H Duprey Trustee 1.00 X 0 0 0 Charles Elson Trustee 1.00 X 0 0 0 Missy Shaffer Trustee 1.00 X 0 0 0 R Thorpe Moeckel Trustee 1.00 X 0 0 0 Rodman W Moorehead III Trustee - Decd 12/24 1.00 X 0 0 0 Anne Moran Trustee 1.00 X 0 0 0 Claire Reid Trustee 1.00 X 0 0 0 Scott F Richard Trustee 1.00 X 0 0 0 Lewis C Ross Trustee 1.00 X 0 0 0 David W Stratton Trustee 1.00 X 0 0 0 Morris W Stroud II Trustee 1.00 X 0 0 0 Joseph P Watkins Trustee 1.00 X 0 0 0 McCoy du Pont Weymouth Trustee 1.00 X 0 0 0 Peter Zimmerman Trustee 1.00 X 0 0 0 Virginia A Logan Exec Director & Asst Secretary 40.00 2.00 X 344831 0 50172 Karl Malkin CFO 40.00 X 183533 0 52921 Thomas Padon Museum Director 40.00 X 256644 0 46265 Thomas Wilt Financial Controller 40.00 X 121059 0 16141 Suzanne Regnier Development Director 40.00 X 143307 0 7884 Wade Abnett Facilities Director 40.00 X 131876 0 7344 Willliam Coleman Wyeth Cur and Dir Wyeth St 40.00 X 150055 0 33146 1331305 0 213873 10 0 1 0 Whiting-Turner Contracting Company PO Box 17596 Baltimore MD 21297 Construction 5304985 Simpson Gumpertz & Heger Inc PO Box 843476 Boston MA 02284 Design Engineer 984595 Schwartz Silver Architects Inc 75 Kneeland Street Boston MA 02111 Architect 875515 Aegis Property Group 325 Chestnut St Suite 719 Philadelphia PA 19106 Construction Project Manager 474040 Crane Communications Inc PO Box 6410 Philadelphia PA 19145 Advertising 216328 9 468636 605993 1175792 10856996 6804229 693141 19911646 Admission to Museum 900099 1033386 1033386 Conservancy Program 900099 147402 147402 Penguin Court Mgmt Fees 900099 129792 129792 Other Program Revenue 900099 32409 32409 1342989 4404117 4404117 106154 0 106154 106154 106154 130088824 113649968 16438856 16438856 16438856 521465 605993 647181 -125716 -125716 1225378 595576 629802 629802 42707848 2078945 0 20717257 652203 652203 6409509 5168700 499476 741333 243900 201652 42248 503335 423478 9787 70070 490223 358620 67051 64552 50619 28305 22238 76 71443 71443 267715 267715 708426 640947 59142 8337 281388 64014 3840 213534 102254 66302 12117 23835 286617 29233 195159 62225 672972 662376 5163 5433 61350 55449 1993 3908 64951 28479 36472 1653764 1349802 303962 362840 351797 11043 Education & Public Prog 787631 787631 Renovation Projects 764967 265131 499836 Collection Acquisition 764484 764484 Repairs and Maintenance 350065 339577 367 10121 337401 216401 118334 2666 15888057 11802378 2326462 1759217 9909901 9590924 509573 202465 3166758 5848582 1120245 408837 196292 172016 653352 823023 85469902 22646555 52243748 62823347 103862138 104486956 11174763 18226927 5512624 6087205 188349394 208670282 2440480 3805325 567802 273337 2314905 1820302 1199405 1267863 6522592 7166827 X 67298092 78982125 114528710 122521330 181826802 201503455 188349394 208670282 X 26819791 -7640121 496983 X X 0 1 X 1 1 1 X 16712334 17604874 13956454 17680729 19911646 85866037 16712334 17604874 13956454 17680729 19911646 85866037 12245481 73620556 2679855 3581387 3066433 3130750 4510271 16968696 102834733 10458780 0.71590 0.67590 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X 517 38993.00 18 0 3 2 1 5387.00 281923 X X X X 0 120541177 51727 13326868 4860855 267715 128791202 112513641 482783 12533418 4783213 205452 120541177 108298214 95200 9183521 4837301 225993 112513641 125956250 552910 -13660087 4317206 233653 108298214 101651400 654292 29399379 5475035 273786 125956250 0.11564 0.46540 0.41896 0 0 22906844 22906844 44679529 21376710 23302819 3317198 1269845 2047353 14566331 14566331 62823347 Hedge funds and private equity 18217041 F Non-endowment investments 9886 C 18226927 Other non-current liabilities 1076950 Due to Penguin Court 190913 1267863 12089463 1538 4029220 4030758 8058705 34649143 34649143 42707848 14502961 0 14502961 267715 1117381 1385096 15888057 Part II, Line 3: - One (1) conservation easement was amended to extinguish a Secondary Residential rite and relocate the Acceptable Residential Location. - One (1) conservation easement was amended to relocate an Acceptable Residential Location. An Agreement was recorded with condition that if residential structure is built in relocated ARL, a conservation easement will be granted on adjacent parcels owned by Grantor. - An Agreement was recorded for one (1) conservation easement to permit a residential structure to be demolished and to create an alternative Residential Site for the replacement residential structure. Part II, Line 5: Written policies are in place regarding monitoring, inspecting, responding to violations and enforcing conservation easements. Our easements all contain provisions granting us (i) right of access to the property for purposes of inspecting the easement, and (ii) the right to enforce the easement. - The Policy Regarding Easement Monitoring and Inspection sets forth detailed procedures for maintaining paper and electronic easement files; landowner and land use activity information, reviews, and communications; annual monitoring and property inspections; and inspection report and photo documentation maintenance and follow up. - The Policy Regarding Easement Violations sets forth detailed procedures regarding the identification, documentation, and classification of and responses to easement violations. It also designates staff member authorities and institutional decision processes for addressing violations. Part II, Line 9: The Organization does not record any amounts for land easements donated in connection with its environmental program. Purchases of land easements are expensed as incurred. Part III, Line 1a: The financial statements exclude the value of collection objects owned through purchase or contribution. No determination has been made as to the aggregate valuation of such items. The Organization's Art and Research Center collections are held and maintained by the Brandywine Museum of Art for use in public exhibitions, educational programs and scholarly studies. The art collections are comprised almost entirely of American paintings, drawings, prints and sculptures with emphasis on the cultural traditions of the Museum's geographic region. The Research Center collections are maintained for scholarly purposes and are comprised primarily of books and periodicals related to American art. The collections are catalogued and maintained according to professionally accepted standards. Policies adopted by the trustees govern the acquisition, disposal, maintenance, insurance and use of the art collections. Part III, Line 4: The Organization's Art and Research Center collections are held and maintained by the Brandywine Museum of Art for use in public exhibitions, educational programs and scholarly studies. The art collections are comprised almost entirely of American paintings, drawings, prints and sculptures with emphasis on the cultural traditions of the Museum's geographic region. The Research Center collections are maintained for scholarly purposes and are comprised primarily of books and periodicals related to American art. The collections are catalogued and maintained according to professionally accepted standards. Policies adopted by the trustees govern the acquisition, disposal, maintenance, insurance and use of the art collections. Part V, Line 4: The Organization's endowment fund is designed to experience continued growth through additional capital infusions and returns from investments. The earnings from the investments should supplement the fundraising and other development activities to provide annual operating funds. Part XI, Line 2d - Other Adjustments: Operating endowment draw 4,029,220. Part XI, Line 4b - Other Adjustments: Realized loss 16,438,856. Investment Income 3,955,090. Flood relief contributions 9,945,740. Facilities reserve contributions 249,792. Easement acquisition receipts 72,882. Capital project contributions 3,986,783. Part XII, Line 4b - Other Adjustments: Easement & Collections Purchases 764,484. Interest expense 28,479. Other non-operating expenses 241,408. Property damage, net 83,010. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 218346 Sub-Saharan Africa - Angola, Benin, Botswana, Burkina Faso, 0 0 Investments 880519 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Investments 485982 0 0 0 0 0 0 1584847 0 1584847 0 0 0 1 1 0 Radnor Races 662927 563488 99439 464077 Critters 143755 143755 61823 5 320776 42505 278271 121281 1127458 605993 521465 647181 647181 -125716 X X X 0 0 0 0 0 0 0 0 0 Virginia A Logan Exec Director & Asst Secretary 344831 0 0 0 0 0 41023 0 9149 0 395003 0 0 0 Thomas Padon Museum Director 256644 0 0 0 0 0 37183 0 9082 0 302909 0 0 0 Karl Malkin CFO 183533 0 0 0 0 0 33866 0 19055 0 236454 0 0 0 Willliam Coleman Wyeth Cur and Dir Wyeth St 150055 0 0 0 0 0 0 0 33146 0 183201 0 0 0 Suzanne Regnier Development Director 143307 0 0 0 0 0 0 0 7884 0 151191 0 0 0 X 52 0 N/A X N/A X 28 693141 FMV 3 0 1 0 Part I, Line 33: In conformity with FASB ASC 958-605, the financial statements exclude the value of the collection objects and library holdings. No determination can be made as to the aggregate value of such items. The Organization records proceeds from deaccessions and disbursements for current period accessions in the statement of activities as revenue and expenditures, respectively. Proceeds from sales of collection items are limited to the acquisition of other items for collections or the direct care of existing collection items. Brandywine employs conservation and curatorial staff to ensure that the collection is protected and preserved. Form 990, Part VI, Section A, line 2 There are relationships within our Board of Trustees, including a family relation. There are also various business relationships among trustees at various times. None of these relationships have an effect on the governing of the board. Form 990, Part VI, Section B, line 11b Draft versions of the Form 990 are distributed to all board members for approval prior to filing. Form 990, Part VI, Section B, line 12c The Brandywine regularly and consistently monitors and enforces compliance with the Conflict of Interest policy by requiring all officers, directors, trustees and employees to complete an annual Conflict of Interest Policy form. The form must be signed and any conflict disclosed. Officer, director, trustee and employee forms are kept in the office of the Executive Director. Form 990, Part VI, Section B, line 15 Salary ranges are set for key employees through the use of salary surveys conducted by professional associations. Compensation changes are recommended by a designated personnel committee and approved by the executive committee. Form 990, Part VI, Section C, line 19 Various Policies, audited financial statements and the annual form 990 are made available to the public by written request. Financial statements are printed in the annual report. Form 990, Part XI, line 9: Change in CSV of Life Insurance 574,581. Change in Charitable Gift Annuity -77,598. Penguin Court Inc PO Box 141 Chadds Ford PA 19317 472856759 Land Preservation & Conservation DE 501(c)(3) 509(a)(3) Brandywine Conservancy 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 Penguin Court L 129792 FMV Penguin Court O 347025 FMV Penguin Court Q 327932 FMV