2026-02-25T10:53:30-06:00 2025-06-30 141555429 UHY ADVISORS NORTHEAST INC 4 TOWER PLACE EXECUTIVE PARK 7TH FLOOR ALBANY NY 12203 990 2024-07-01 042163004 STERLING AND FRANCINE CLARK ART INSTITUTE STER 4134582303 225 SOUTH ST WILLIAMSTOWN MA 012672878 ROBIN SHER CHIEF FINANCIAL OFFICER 4134582303 2026-02-25 1 1 XIAOQIANG ZHANG P01577994 5184493166 2026-02-25 2024 2025-03-06 01:10:19Z OLIVIER B MESLAY 225 SOUTH ST WILLIAMSTOWN MA 012672878 61109114 0 X WWW.CLARKART.EDU X 1950 MA IN 1950, STERLING AND FRANCINE CLARK CHARTERED THE STERLING AND FRANCINE CLARK ART INSTITUTE AS A HOME FOR THEIR EXTENSIVE ART COLLECTION. OPENED TO THE PUBLIC IN 1955, THE INSTITUTE HAS BUILT UPON THIS EXTRAORDINARY GROUP OF WORKS TO BECOME ONE OF THE MOST BELOVED AND RESPECTED ART MUSEUMS IN THE WORLD, KNOWN FOR ITS INTIMATE GALLERIES AND STUNNING NATURAL ENVIRONMENT. ONE OF THE FEW INSTITUTIONS IN THE UNITED STATES THAT COMBINES A PUBLIC ART MUSEUM WITH RESEARCH AND ACADEMIC PROGRAMS, INCLUDING A MAJOR ART HISTORY LIBRARY, THE CLARK IS A LEADING INTERNATIONAL CENTER FOR RESEARCH AND DISCUSSION ON THE NATURE OF ART AND ART HISTORY. 19 18 185 77 -49008 0 24558498 56664621 1570080 1696986 934556 1044661 70145 -49008 27133279 59357260 369429 339000 0 0 11596611 12184786 254190 938 2216017 22015441 24369336 34235671 36894060 -7102392 22463200 691565316 760739357 81066421 76762158 610498895 683977199 X SEE SCHEDULE O FOR THE ORGANIZATION'S MISSION STATEMENT.PLEASE SEE DESCRIPTION FOR PART I, LINE 1, ABOVE. 0 0 5465370 339000 SEE SCHEDULE O FOR RESEARCH AND ACADEMIC PROGRAMS ACCOMPLISHMENTS.RESEARCH AND ACADEMIC PROGRAM ACCOMPLISHMENTS - AS AN INTERNATIONAL CENTER FOR HIGHER LEARNING, THE CLARK IS DRIVEN BY A STRONG COMMITMENT TO THE GENERATION OF IDEAS AND A DISTINCT FOCUS ON EDUCATION. THE CLARK'S RESEARCH AND ACADEMIC PROGRAM ENCOURAGES FRESH APPROACHES TO ADVANCING CRITICAL PERSPECTIVES IN THE VISUAL ARTS. CLARK FELLOWS, CONSIDERED TO BE PROMISING AND ESTABLISHED SCHOLARS AND PRACTITIONERS IN THE VISUAL ARTS, FOSTER INTELLECTUAL DIALOGUE AND INQUIRY IN THE THEORY, HISTORY, AND INTERPRETATION OF VISUAL CULTURE. CONFERENCES, SYMPOSIA, A PODCAST, AND ONLINE LECTURES FOCUS ON VITAL TOPICS IN THE FIELD AND ADDRESS QUESTIONS THAT CONTRIBUTE TO A BROADER PUBLIC UNDERSTANDING OF THE ROLE OF VISUAL CULTURE. THE CLARK'S ART RESEARCH LIBRARY, ONE OF THE LARGEST IN THE COUNTRY, SERVES BOTH SCHOLARS AND THE PUBLIC. SINCE ITS INCEPTION IN THE EARLY 1960S, THE LIBRARY COLLECTION HAS GROWN FROM ITS BASE-THE ROBERT STERLING CLARK COLLECTION OF ILLUSTRATED RARE BOOKS- TO ENCOMPASS SOME 299,000 VOLUMES IN OVER 130 LANGUAGES. THE LIBRARY'S OPEN AND CLOSED STACKS AND PROFESSIONAL STAFF ENSURE THAT MATERIALS ARE READILY AVAILABLE TO ALL PATRONS. IN COOPERATION WITH WILLIAMS COLLEGE, THE CLARK OFFERS A MASTERS' PROGRAM IN THE HISTORY OF ART, CONSIDERED TO BE ONE OF THE FINEST IN THE COUNTRY. THE PROGRAM DRAWS UPON THE RICH RESOURCES OF THE CLARK AND WILLIAMS TO PREPARE GRADUATE STUDENTS FOR RESEARCH AND FURTHER STUDY IN THE ACADEMIC AND MUSEUM WORLDS. 20794661 1693586 SEE SCHEDULE O FOR MUSEUM PROGRAM ACCOMPLISHMENTS.MUSEUM PROGRAM ACCOMPLISHMENTS: SINCE ITS FOUNDING IN 1950, THE CLARK'S COLLECTION HAS CONTINUED TO GROW, NOW CONSISTING OF OVER 10,000 OBJECTS, INCLUDING OVER 500 PAINTINGS AND SIGNIFICANT HOLDINGS OF WORKS ON PAPER AND DECORATIVE ARTS. THE COLLECTION FEATURES EUROPEAN AND AMERICAN PAINTINGS, SCULPTURE, PRINTS, DRAWINGS, PHOTOGRAPHS, AND DECORATIVE ARTS FROM THE RENAISSANCE TO THE EARLY TWENTIETH CENTURY. THE COLLECTION IS ESPECIALLY RICH IN FRENCH IMPRESSIONIST AND ACADEMIC PAINTINGS, BRITISH OIL SKETCHES, DRAWINGS, AND SILVER, AND THE WORK OF AMERICAN ARTISTS WINSLOW HOMER, GEORGE INNESS, AND JOHN SINGER SARGENT. BASED ON THE FOUNDING GIFT FROM STERLING AND FRANCINE CLARK, THE COLLECTION HAS EXPANDED OVER THE YEARS THROUGH NUMEROUS ACQUISITIONS AS WELL AS SIGNIFICANT GIFTS AND BEQUESTS, INCLUDING THE GIFT OF SIR EDWIN AND LADY MANTON COLLECTION OF BRITISH ART AND THE GIFT OF GEORGE INNESS PAINTINGS BY FRANK AND KATHERINE MARTUCCI. ON OCTOBER 21, 2024, THE CLARK RECEIVED A GIFT FROM THE TAVITIAN FOUNDATION II, INC. OF 331 PAINTINGS, SCULPTURES, DRAWINGS, AND DECORATIVE ARTS OBJECTS, AS WELL AS UP TO $45 MILLION FOR THE CONSTRUCTION AND CARE OF THE ASO O. TAVITIAN WING TO BE LOCATED ON THE CAMPUS OF THE CLARK ART INSTITUTE, WHICH WILL HOUSE THE DONATED ART. CURRENTLY, THE CLARK IS IN THE DESIGN PHASE OF THE PROJECT, WITH CONSTRUCTION EXPECTED TO BEGIN ON THE ASO O. TAVITIAN WING IN LATE 2026 AND BE COMPLETED BY MID-2028. THE CLARK HAS ENTERED INTO CONTRACTS WITH THE OWNERS REPRESENTATIVE FIRM AND OTHER CONSTRUCTION SERVICES. AS OF THE END OF THE FISCAL YEAR ON JUNE 30, 2025, APPROXIMATELY $1 MILLION HAD BEEN SPENT ON OWNER'S REPRESENTATIVE AND DESIGN SERVICES, AND ART TRANSPORTATION AND CARE.THE CLARK ALSO ORGANIZES SPECIAL EXHIBITIONS IN COOPERATION WITH LEADING MUSEUMS IN THE UNITED STATES AND EUROPE. RECENT EXHIBITIONS INCLUDE: WALL POWER! - MODERN FRENCH TAPESTRY FROM THE MOBILIER NATIONAL, PARIS (WINTER 2024/WINTER 2025), MARIEL CAPANNA: GIORNATA (2025), PASTORAL ON PAPER (SPRING/SUMMER 2025); EDGAR DEGAS-MULTI-MEDIA ARTIST IN THE AGE OF IMPRESSIONISM (SUMMER/FALL 2024), FRAGILE BEAUTY: TREASURES FROM THE CORNING MUSEUM OF GLASS (SUMMER/FALL 2024), GUILLAUME LETHIERE (SUMMER/FALL 2024), KATHIA ST. HILAIRE: INVISIBLE EMPIRES (SPRING/SUMMER 2024), DAVID-JEREMIAH: I DRIVE THEE (WINTER 2024/WINTER 2025), ABELARDO MORELL: IN THE COMPANY OF MONET AND CONSTABLE (FALL 2024/WINTER 2025) AND A ROOM OF HER OWN: WOMEN ARTISTS IN BRITAIN, 1875-1945 (SUMMER/FALL 2025). UPCOMING EXHIBITIONS INCLUDE: , GROUND/WORK 2025 (SUMMER 2025/SUMMER 2026), ISAMU NOGUCHI: LANDSCAPES OF TIME (SUMMER 2025), BERENICE ABBOTT'S MODERN LENS (SUMMER 2025), PAGINATIONS: BACK BAY TO THE BERKSHIRES: CELEBRATING 250 YEARS OF ART IN MASSACHUSETTS (FALL 2025), RAFFAELLA DELLA OLGA (FALL 2025/SPRING 2026), PAGINATIONS - GRIDLOCKED: THE GEOMETRY OF WEAVING (FALL 2025/SPRING 2026), SHADOW VISIONARIES: FRENCH ARTISTS AGAINST THE CURRENT (WINTER 2025/SPRING 2026), SONIA ALMEIDA: STAGES (WINTER 2026/WINTER 2027) AND AN EXQUISITE EYE: INTRODUCING THE ASO O. TAVITIAN COLLECTION (SUMMER 2026/WINTER 2027).MAJOR EXHIBITIONS ARE AUGMENTED BY WEB-BASED MICROSITES, GENERAL AND CUSTOMIZED GALLERY TALKS, MULTIMEDIA GUIDES, IN-GALLERY INTERPRETIVE MATERIALS, LECTURES, AND FILM SERIES. SEASONAL COMMUNITY DAYS, SUMMER OUTDOOR CONCERTS AND MOVIES, FALL AND WINTER ART COURSES, AND MUSIC PERFORMANCES FURTHER THE CLARK'S EFFORT TO INVOLVE INTERGENERATIONAL AUDIENCES AND SUPPORT LIFELONG LEARNING. THE CLARK HAS A ROBUST DIGITAL PROGRAMMING INITIATIVE INCLUDING LIVESTREAMED AND PRE-RECORDED PROGRAMS ENCOMPASSING LECTURES, CONVERSATIONS WITH ARTISTS AND ART HISTORIANS, AND MUSICAL PERFORMANCES; EDUCATION PROGRAMS AND ACTIVITY SHEETS; AND A PODCAST SERIES. CLARK SOCIAL MEDIA PLATFORMS HAVE A COMBINED FOLLOWING OF MORE THAN 100,000 AND THE CLARK WEBSITE RECEIVES MORE THAN 1.8 MILLION UNIQUE PAGEVIEWS ANNUALLY.SPECIAL EFFORTS TO ENHANCE ACCESS TO THE CLARK INCLUDE FREE ADMISSION FOR CHILDREN AND PRE-K THROUGH GRADE 12 STUDENTS AT ALL TIMES, A FREE PASS PROGRAM OFFERED THROUGH OVER 200 REGIONAL LIBRARIES AND COMMUNITY SERVICE ORGANIZATIONS, AND PARTICIPATION IN THE CARD-TO-CULTURE PROGRAM, WHICH PROVIDES FREE ADMISSION TO ANYONE WITH AN EBT CARD, AS WELL AS PROVIDING FREE ADMISSION TO ACTIVE MEMBERS OF THE MILITARY, AND MASSACHUSETTS TEACHERS. THREE FOR FREE (FREE ADMISSION FOR ALL) IS OFFERED IN JANUARY-MARCH, FIRST SUNDAYS FREE, HELD OCTOBER-MAY, AS WELL AS COMMUNITY DAY, AND OTHER SPECIAL COMMUNITY PROGRAMMING ARE ALL EXAMPLES OF FREE EVENTS WHICH INCLUDE MUSEUM ADMISSION, FAMILY-FRIENDLY GALLERY TOURS, PERFORMANCES, AND HANDS-ON ACTIVITIES WHICH ATTRACT SOME 20,000 VISITORS ANNUALLY, INCLUDING MANY LOCAL FAMILIES WHO WOULD OTHERWISE NOT VISIT. 1616678 3400 SEE SCHEDULE O FOR EDUCATIONAL PROGRAM ACCOMPLISHMENTS.EDUCATIONAL PROGRAM ACCOMPLISHMENTS: THE CLARK CONDUCTS A FULL SERIES OF EDUCATIONAL PROGRAMS FOR THE GENERAL PUBLIC DESIGNED TO ENCOURAGE A WIDE RANGE OF AUDIENCES TO EXPLORE, UNDERSTAND, AND ENJOY THE VISUAL ARTS IN GENERAL AND THE CLARK'S COLLECTIONS IN PARTICULAR AS WELL AS OPPORTUNITIES TO EXPLORE, UNDERSTAND AND ENJOY NATURE ON A MAGNIFICENT 140 ACRE CAMPUS. THESE OFFERINGS INCLUDE GUIDED GALLERY TOURS, FAMILY ACTIVITY GUIDES, AND COMMUNITY EVENTS DESIGNED FOR DIFFERENT AGES AND STAGES. DIGITAL AND WEB-BASED PROGRAMMING IS CREATED FOR GENERAL AUDIENCES AND SCHOOL AUDIENCES (INCLUDING CURRICULAR SUPPORT RESOURCES); THESE PROGRAMS ARE UPDATED REGULARLY. TWO INTERACTIVE INSTALLATIONS FOR INDEPENDENT VISITOR ACTIVITY AND LEARNING WERE DEVELOPED, INCLUDING ART/LAB, A SPACE THAT ENCOURAGES EXPLORATION OF A VARIETY OF ART CONCEPTS FOR ALL AGES AND A POSTCARD STATION, WHERE PEOPLE CAN MAKE, WRITE AND SEND A POSTCARD FEATURING THE CLARK TO SOMEONE THEY KNOW. THE CLARK'S PEDAGOGY EMPHASIZES INTERACTIVE ENGAGEMENT AND CONVERSATION RATHER THAN THE MORE TRADITIONAL ONE-WAY FLOW OF INFORMATION FROM PRESENTER TO AUDIENCE. THIS ENGAGEMENT APPROACH IS DESIGNED TO BE FLEXIBLE, SO AS TO RESPOND TO THE DIFFERENT NEEDS AND DESIRES OF DIFFERENT AUDIENCES, AND IT ENCOURAGES CULTURAL, SOCIAL, AND HISTORICAL AWARENESS THAT CARRIES BEYOND A PARTICULAR WORK OF ART AND/OR ANY ONE PERSPECTIVE. THE CLARK'S GOAL IS TO PROVIDE A DYNAMIC AND MEANINGFUL EXPERIENCE FOR THE MUSEUM VISITOR. 27876709 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 1 168 0 1 185 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 19 18 0 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 MA NY X ROBIN T SHER CFO COO CLERK 4134582303 225 SOUTH ST WILLIAMSTOWN MA 012672878 MAUD S MANDEL WILLIAMS COLLEGE, EX OFFICIO 1.00 40.00 X 0 820656 172034 OLIVIER B MESLAY DIRECTOR & EX OFFICIO 40.00 0.00 X 541998 0 205785 DAPHNE BIRDSEY CHIEF ADVANCEMENT OFFICER 40.00 0.00 X 227163 0 16837 ESTHER S BELL DEPUTY DIRECTOR & CHIEF CURATOR 40.00 0.00 X 221405 0 16416 ROBIN T SHER CFO/COO/CLERK 40.00 0.00 X 195036 0 27249 KATHLEEN MARIE MORRIS MARX DIRECTOR COLLECTIONS & EXHIBITS 40.00 0.00 X 174025 0 52492 VICTORIA T SALTZMAN DIRECTOR OF COMMUNICATIONS 40.00 0.00 X 165412 0 48161 WILLIAM J POWERS DIRECTOR OF FACILITIES 40.00 0.00 X 154117 0 48002 CAROLINE O FOWLER DIRECTOR OF RESEARCH & ACADEMIC PROGRAMS 40.00 8.00 X 154131 17000 38839 GLENN BARNES TRUSTEE 1.00 0.00 X 0 0 0 CYNTHIA BECK TRUSTEE 1.00 0.00 X 0 0 0 MAUREEN FENNESSY BOUSA TRUSTEE 1.00 0.00 X 0 0 0 SANDRA L BURTON TRUSTEE 1.00 0.00 X 0 0 0 PATRICK J LANDERS TRUSTEE 1.00 0.00 X 0 0 0 ELIZABETH B LEE TRUSTEE 1.00 0.00 X 0 0 0 GLENN D LOWRY TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL R LYNCH TRUSTEE 1.00 0.00 X 0 0 0 DORIS FISCHER MALESARDI TRUSTEE 1.00 0.00 X 0 0 0 FRANK MARTUCCI TRUSTEE 1.00 0.00 X 0 0 0 JAMES PARKS TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM C SCHMIDT TRUSTEE 1.00 0.00 X 0 0 0 HOWARD SHAPIRO TRUSTEE 1.00 0.00 X 0 0 0 TODD TIBBETTS TRUSTEE 1.00 0.00 X 0 0 0 HELGE WEINER-TRAPNESS TRUSTEE 1.00 0.00 X 0 0 0 DENISE LITTLEFIELD SOBEL CHAIR 4.00 0.00 X X 0 0 0 PAUL R PROVOST VICE CHAIR 4.00 0.00 X X 0 0 0 SCOTT SCHWEIGHAUSER TREASURER 4.00 0.00 X X 0 0 0 1833287 837656 625815 17 0 1 0 SECURITAS SECURITY SERVICES PO BOX 403412 ATLANTA GA 30384 SECURITY SERVICES 1857042 ARCHITECTURAL GLASS AND METAL 3 LIEBICH LN STE 1 CLIFTON PARK NY 12065 CONSTRUCTION 1007546 MASTERPIECE INTERNATIONAL LTD 39 BROADWAY RM 1410 NEW YORK NY 10006 ART TRANSPORT 719070 VANGUARD ORGANIZATION INC 1839 SOUTH ROAD WAPPINGERS FALLS NY 12590 CONSTRUCTION 508101 J H MAXYMILLIAN INC 1801 EAST ST PITTSFIELD MA 01201 GROUNDS MAINTENANCE 478345 17 X 1339518 160000 55165103 492072 56664621 MUSEUM PROGRAMS 900099 1693586 1693586 EDUCATION 900099 3400 3400 1696986 1024713 1024713 820132 800184 19948 19948 19948 902662 951670 -49008 -49008 59357260 1696986 -49008 1044661 339000 339000 1217755 802961 414794 8268441 5836629 1527424 904388 555494 391736 105075 58683 1496538 1008355 332585 155598 646558 407826 153609 85123 373624 368218 5406 204042 153764 44727 5551 94276 94276 938 938 2003037 2003037 99972 84378 15594 431388 416675 14713 445973 257243 146300 42430 567643 174129 391554 1960 32301 32301 2960580 2669566 231733 59281 272657 92280 126574 53803 811005 535844 69581 205580 2428561 2428561 6926515 6556636 294533 75346 521126 200861 320265 EXHIBITIONS/OTHER PROG 3578979 3461400 117579 SECURITY SERVICES 1896490 1888103 889 7498 PRINTING/PUBLICATIONS 438965 421722 17243 OTHER CONTRACTED SVCS 147984 17264 120498 10222 134218 134218 36894060 27876709 6801334 2216017 2890872 2525097 10423292 40353212 896834 1142036 113757 103104 403470 402318 294979 319589 262516660 93210092 173037894 169306568 491218498 533379871 12285720 13207562 691565316 760739357 4035690 3830897 75990656 71852561 1040075 1078700 81066421 76762158 X 417595870 432176072 192903025 251801127 610498895 683977199 691565316 760739357 X 22463200 54142561 -3127457 X 0 1 X 1 0 X X 1 WILLIAMS COLLEGE 042104847 2 1 0 0 1 0 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 X X X X 0 163340398 18733691 15645176 5945382 191773883 142043149 15449813 11864845 6017409 163340398 144589739 2946499 5493089 142043149 163764923 40191 -14017387 5197992 144589735 123350798 100000 44510510 4196385 163764923 0.00000 1.00000 0.00000 0 1 1 1472802 1472802 247434037 83630944 163803093 11615926 9579148 2036778 1993895 1993895 169306568 REAL ESTATE FUNDS 2704102 F INSTITUTIONAL MONEY MARKET FUNDS 17547358 F PRIVATE - OFFSHORE 2184883 F BENEFICIAL INTEREST HELD BY RELATED ORGANIZATION 510943528 F 533379871 RIGHT OF USE LIABILITIES 101233 OTHER LONG-TERM LIABILITIES 977467 1078700 X 112799273 54142561 1302489 55445050 57354223 2003037 2003037 59357260 39320969 4429946 4429946 34891023 2003037 2003037 36894060 PART III, LINE 1A: AUDITED FINANCIAL STATEMENTS NOTE REGARDING ART AND LIBRARY COLLECTIONS AND DEACCESSION: THE ART AND LIBRARY COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE CLARK'S INCEPTION, ARE INCLUDED AS AN ASSET ON THE STATEMENT OF FINANCIAL POSITION VALUED AT A $1 AND ARE NOT RECOGNIZED ON THE STATEMENT OF FINANCIAL POSITION AS PERMITTED BY ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA AND IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS. PURCHASED COLLECTION ITEMS ARE REPORTED AS NON-OPERATING ITEMS WHICH DECREASE NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR IN NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. PROCEEDS FROM DEACCESSIONS OR INSURANCE RECOVERY ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. THE ACQUISITION, ACCESSIONING, DEACCESSIONING, CARE, AND LOANS OF WORKS IN THE COLLECTIONS ARE CONDUCTED IN A MANNER THAT CONFORMS TO THE CLARK'S MISSION, COMPLIES WITH APPLICABLE LAW, AND CONFORMS TO THE AAM CODE OF ETHICS FOR MUSEUMS. DEACCESSIONING OF WORKS IN THE COLLECTIONS IS CONDUCTED IN ACCORDANCE WITH THE AAMD POLICY ON DEACCESSIONING AND THE CLARK'S BOARD-APPROVED COLLECTIONS MANAGEMENT POLICY. THE PURPOSE OF REMOVING WORKS OF ART FROM THE PERMANENT COLLECTION THROUGH SALE, EXCHANGE, OR OTHER MEANS IS SOLELY FOR THE ADVANCEMENT OF THE CLARK'S MISSION AND TO STRENGTHEN THE COLLECTION THROUGH THE ACQUISITION OF MORE RELEVANT AND MEANINGFUL WORKS FOR THE PERMANENT COLLECTION. THEREFORE, ANY ASSETS ACCRUED THROUGH DEACCESSIONING SHALL BE EMPLOYED ONLY TO ACQUIRE ADDITIONAL ACCESSIONED WORKS OF ART. THE CLARK'S POLICY IS TO MAINTAIN AND CONTINUE TO ACQUIRE SIGNIFICANT, RELEVANT AND MEANINGFUL WORKS OF ART FOR ITS COLLECTION AND BOOKS FOR ITS LIBRARY. EACH ITEM IS CATALOGED, PROTECTED, SECURED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE CONTINUOUSLY PERFORMED. PART III, LINE 4: DESCRIPTION OF ORGANIZATION'S COLLECTIONS AND HOW THEY FURTHER THE ORGANIZATION'S EXEMPT PURPOSE: INTRODUCTION THE STERLING AND FRANCINE CLARK ART INSTITUTE IS AN ART MUSEUM AND INTERNATIONAL CENTER FOR RESEARCH AND HIGHER EDUCATION IN THE VISUAL ARTS. IN ADDITION TO ITS RECOGNIZED COLLECTIONS OF EARLY MODERN, IMPRESSIONIST, AND NINETEENTH-CENTURY EUROPEAN AND AMERICAN ART, DISPLAYED IN A SERIES OF INTIMATE GALLERIES, THE CLARK ORGANIZES CRITICALLY ACCLAIMED SPECIAL EXHIBITIONS THAT APPEAL TO A WIDE RANGE OF AUDIENCES AND ADVANCE NEW IDEAS. THE CLARK'S RESEARCH AND ACADEMIC PROGRAM OFFERS FELLOWSHIPS TO RENOWNED INTERNATIONAL SCHOLARS AND MUSEUM PROFESSIONALS, PRESENTS REGULAR CONFERENCES AND SYMPOSIA, AND IS SUPPORTED BY ONE OF THE MOST COMPREHENSIVE ART HISTORY LIBRARIES IN THE WORLD. TOGETHER WITH WILLIAMS COLLEGE, THE CLARK JOINTLY SPONSORS ONE OF THE NATION'S MOST RESPECTED MASTER'S DEGREE PROGRAMS IN ART HISTORY. HISTORY AND MISSION STERLING AND FRANCINE CLARK ESTABLISHED THE CLARK ART INSTITUTE IN 1950 AND OPENED THE MUSEUM IN 1955, ENVISIONING A DISTINCTIVE ART MUSEUM DEDICATED TO ADVANCING AND EXTENDING THE PUBLIC UNDERSTANDING OF ART THAT WOULD BE ENHANCED BY ITS SETTING IN A PASTORAL LANDSCAPE. SINCE ITS FOUNDING, THE CLARK HAS ADDED A RESEARCH AND ACADEMIC PROGRAM, INCLUDING AN INTERNATIONAL FELLOWSHIP PROGRAM, OFFERING A FULL SCHEDULE OF CONFERENCES, COLLOQUIA, AND SYMPOSIA, AND HAS CREATED A RENOWNED SPECIAL EXHIBITION PROGRAM. THE CLARK BENEFITS FROM AN INCREASED INTERNATIONAL PROFILE AS A RESULT OF PARTNERSHIPS WITH INSTITUTIONS AROUND THE WORLD. PROGRAMMING THE MUSEUM PROGRAM: THE STERLING AND FRANCINE CLARK ART INSTITUTE'S MUSEUM PROGRAM CONTINUES TO GROW ITS COLLECTIONS AND MOUNT AMBITIOUS EXHIBITIONS. THE CORE COLLECTION OF EXCEPTIONAL EARLY MODERN PAINTINGS, FRENCH IMPRESSIONIST WORKS, AMERICAN MASTERWORKS BY ARTISTS INCLUDING WINSLOW HOMER AND JOHN SINGER SARGENT, AND ENGLISH SILVER CONTINUES TO DRAW AUDIENCES FROM AROUND THE WORLD. THE CLARK HAS ALSO BECOME KNOWN FOR ITS IMPRESSIVE COLLECTION OF PRINTS AND DRAWINGS, WHICH SPAN THE SCOPE AND BREADTH OF THE PAINTING COLLECTION AND FEATURE ARTISTS RANGING FROM ALBRECHT DRER TO HENRI DE TOULOUSE-LAUTREC. MORE RECENTLY THE CLARK HAS ASSEMBLED A NOTABLE COLLECTION OF MASTER PHOTOGRAPHS, INCLUDING WORKS BY ARTISTS FROM GUSTAVE LE GRAY AND NADAR TO JULIA MARGARET CAMERON AND ALFRED STIEGLITZ. THOUGH THE COLLECTION HAS GROWN AND EXPANDED, DISPLAY OF THE CLARK'S WORKS HAS REMAINED TRUE TO THE INTENTIONS OF ITS FOUNDERS, EXHIBITED IN INTIMATE GALLERIES WITH A DOMESTIC REFINEMENT AND SCALE THAT FOSTERS INDIVIDUAL CONTEMPLATION AND ENGAGEMENT. THE CLARK'S SPECIAL EXHIBITIONS PROGRAM IS NOT CONFINED TO THE PARAMETERS OF ITS PERMANENT COLLECTION: WHILE PROJECTS ARE OFTEN DRAWN FROM OR INSPIRED BY THAT COLLECTION, THE CLARK ORGANIZES EXHIBITIONS COVERING A WIDE RANGE OF ARTISTS AND TIME PERIODS. ON OCTOBER 21, 2024, THE CLARK RECEIVED A GIFT FROM THE TAVITIAN FOUNDATION II, INC. OF 331 PAINTINGS, SCULPTURES, DRAWINGS, AND DECORATIVE ARTS OBJECTS, AS WELL AS UP TO $45 MILLION FOR THE CONSTRUCTION AND CARE OF THE ASO O. TAVITIAN WING TO BE LOCATED ON THE CAMPUS OF THE CLARK ART INSTITUTE, WHICH WILL HOUSE THE DONATED ART. CURRENTLY, THE CLARK IS IN THE DESIGN PHASE OF THE PROJECT, WITH CONSTRUCTION EXPECTED TO BEGIN ON THE ASO O. TAVITIAN WING IN LATE 2026 AND BE COMPLETED BY MID-2028. ADVANCE RESEARCH AND HIGHER EDUCATION: RESEARCH LIBRARY THE CLARK'S ART RESEARCH LIBRARY, ONE OF THE LARGEST IN THE COUNTRY, SERVES BOTH SCHOLARS AND THE PUBLIC. SINCE ITS INCEPTION IN THE EARLY 1960S, THE LIBRARY COLLECTION HAS GROWN FROM ITS BASE - THE ROBERT STERLING CLARK COLLECTION OF ILLUSTRATED RARE BOOKS - TO ENCOMPASS SOME 299,000 VOLUMES. THE LIBRARY'S OPEN STACKS AND PROFESSIONAL STAFF ENSURE THAT MATERIALS ARE READILY AVAILABLE TO ALL PATRONS. GRADUATE PROGRAM IN THE HISTORY OF ART IN COOPERATION WITH WILLIAMS COLLEGE, THE CLARK OFFERS THE COUNTRY'S LEADING MASTER'S DEGREE PROGRAM IN THE HISTORY OF ART. THE PROGRAM DRAWS UPON THE RICH RESOURCES OF BOTH THE CLARK AND WILLIAMS TO PREPARE GRADUATE STUDENTS FOR RESEARCH, CURATORIAL, AND OTHER SCHOLARLY PURSUITS IN THE ACADEMIC AND MUSEUM WORLDS. PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS: THE CLARK'S ENDOWMENT CONSISTS OF A NUMBER OF INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THESE FUNDS INCLUDE THE ORIGINAL ENDOWMENT ESTABLISHED BY THE FOUNDERS, THE INCOME FROM WHICH IS EXPENDABLE TO FUND THE GENERAL OPERATIONS OF THE CLARK. OTHER ENDOWMENT FUNDS PROVIDE INCOME FOR THE SUPPORT OF SPECIFIC PROGRAMS AND ACTIVITIES OF THE CLARK. PART X, LINE 2: FASB ASC 740 FINANCIAL STATEMENTS FOOTNOTE RELATED TO UNCERTAIN TAX POSITIONS: MANAGEMENT HAS EVALUATED SIGNIFICANT TAX POSITIONS AGAINST THE CRITERIA ESTABLISHED BY PROFESSIONAL STANDARDS AND BELIEVES THERE ARE NO SUCH TAX POSITIONS REQUIRING ACCOUNTING RECOGNITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN ON DEBT EXTINGUISHMENT 1,302,489. PART XI, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 2,003,037. PART XII, LINE 2D - OTHER ADJUSTMENTS: PURCHASED WORKS OF ART AND LIBRARY COLLECTIONS 4,429,946. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 2,003,037. EAST ASIA & THE PACIFIC 0 0 PROGRAM SERVICES CULTURAL EXCHANGE 79498 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 PROGRAM SERVICES CULTURAL EXCHANGE 71065 0 0 0 0 0 0 150563 0 150563 0 0 0 0 0 0 PART I, LINE 3 THESE EXPENDITURES HAVE BEEN REPORTED ON THE SAME METHOD OF ACCOUNTING AS USED IN THE CLARK'S FINANCIAL STATEMENTS, WHICH IS THE ACCRUAL BASIS. 1 STIPENDS FOR SCHOLARLY RESEARCH IN THE VISUAL ARTS 15 310000 STIPENDS FOR GRADUATE WORK IN ART CONSERVATION 1 4000 CLARK PRIZE - SCHOLARLY WRITING IN VISUAL ARTS 1 25000 PART I, LINE 2: ORGANIZATION'S PROCEDURES FOR MONITORING USE OF GRANT FUNDS IN THE U.S: ALL DISBURSEMENTS MADE BY THE INSTITUTE IN FURTHERANCE OF ITS MISSION ARE REVIEWED AND APPROVED BY AUTHORIZED INDIVIDUALS OR COMMITTEES. SCHOLARS ARE SELECTED FROM A POOL OF APPLICANTS BY A DISTINGUISHED 7-MEMBER JURY WITH EXPERTISE IN THE FIELD. RECIPIENTS OF STIPENDS ENGAGE IN SCHOLARLY RESEARCH, DELIVER A PUBLIC LECTURE BASED ON THEIR RESEARCH PROJECT, AND PARTICIPATE IN ACADEMIC PROGRAMS DURING THEIR RESIDENCIES AND ARE MONITORED AND FACILITATED BY THE INSTITUTE'S DIRECTOR OF RESEARCH AND ACADEMIC PROGRAMS. RECIPIENTS OF STIPENDS FOR GRADUATE WORK IN ART CONSERVATION ARE REQUIRED TO BE WILLIAMS COLLEGE ART HISTORY GRADUATE STUDENTS. THE GRADUATE STUDENTS PARTICIPATE IN AN ART CONSERVATION PROJECT REQUIRING BOTH A WRITTEN REPORT AND LECTURE FOR THE PROJECT AND ARE MONITORED BY THE INSTITUTE'S DEPUTY DIRECTOR & CHIEF CURATOR AND DIRECTOR OF EXHIBITIONS, COLLECTIONS, & CURATOR OF DECORATIVE ARTS 1 X X X X X X 0 1 0 0 0 0 0 0 0 MAUD S MANDEL WILLIAMS COLLEGE, EX OFFICIO 0 804853 0 0 0 15803 0 138965 0 33069 0 992690 0 75000 OLIVIER B MESLAY DIRECTOR & EX OFFICIO 441295 0 80000 0 20703 0 193332 0 12453 0 747783 0 0 0 DAPHNE BIRDSEY CHIEF ADVANCEMENT OFFICER 227163 0 0 0 0 0 15901 0 936 0 244000 0 0 0 ESTHER S BELL DEPUTY DIRECTOR & CHIEF CURATOR 221136 0 0 0 269 0 15480 0 936 0 237821 0 0 0 ROBIN T SHER CFO/COO/CLERK 194172 0 0 0 864 0 13954 0 13295 0 222285 0 0 0 KATHLEEN MARIE MORRIS MARX DIRECTOR COLLECTIONS & EXHIBITS 172449 0 0 0 1576 0 18473 0 34019 0 226517 0 0 0 VICTORIA T SALTZMAN DIRECTOR OF COMMUNICATIONS 163937 0 0 0 1475 0 17506 0 30655 0 213573 0 0 0 WILLIAM J POWERS DIRECTOR OF FACILITIES 152969 0 0 0 1148 0 16290 0 31712 0 202119 0 0 0 CAROLINE O FOWLER DIRECTOR OF RESEARCH & ACADEMIC PROG 153952 17000 0 0 179 0 11335 0 27504 0 192970 17000 0 0 PART I, LINE 4B PARTICIPATION IN SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN: THE DIRECTOR PARTICIPATES IN A SECTION 457(F) SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN. CONTRIBUTIONS AND ALLOCATIONS TO THIS ACCOUNT DURING CALENDAR YEAR 2024 ARE INCLUDED ON FORM 990, PART VII, COLUMN (F) AND ON SCHEDULE J, PART II, COLUMN (C). A MASS DEVELOPMENT FINANCE AGENCY 043431814 57584XB83 2016-11-22 62830138 2010(PARTIAL) & 2011 ADV REFUND 0 0 0 B MASS DEVELOPMENT FINANCE AGENCY 043431814 2022-05-25 15370000 2022 TAX-EXEMPT REFUNDING OF SERIES 2016 STEPPED COUPON BONDS 0 0 0 C MASS DEVELOPMENT FINANCE AGENCY 043431814 57585BKY3 2025-06-11 20592548 REFUND OF 2015 ISSUE 0 0 0 A 23075000 62830138 668097 62162041 2016 1 0 1 1 B 15370000 175000 15195000 2022 1 0 1 1 C 20592548 374880 20172244 45424 2025 1 0 0 1 A 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 A 0 0 1 0 0 0 0 0 0 B 0 0 1 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 A 0 B 0 C 0 X 4 0 X 14 492072 AVG FMV ON TRANSFER 1 0 1 1 PART I, LINE 32B: USE OF THIRD-PARTIES TO SOLICIT, PROCESS, OR SELL NON-CASH CONTRIBUTIONS: THE CLARK USES A CUSTODIAL BANK TO RECEIVE GIFTS OF PUBLICLY TRADED SECURITIES, WHICH ARE SOLD UPON RECEIPT. PART I, LINE 33: PROPERTY ON SCH. M NOT REPORTED IN REVENUES: THE CLARK ELECTED, AS PERMITTED UNDER ASC 958-360-25, NOT TO REPORT IN ITS FINANCIAL STATEMENTS WORKS OF ART AND LIBRARY COLLECTIONS HELD FOR PUBLIC EXHIBITION, EDUCATION OR RESEARCH IN FURTHERANCE OF PUBLIC SERVICE. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS POWER TO ELECT OR APPOINT TO THE GOVERNING BODY: THE BY-LAWS OF THE INSTITUTE, AS AMENDED AUGUST 8, 2020, PROVIDE THAT AT ALL TIMES THE MAJORITY OF THE TRUSTEES OF THE INSTITUTE SHALL BE ELECTED BY THE TRUSTEES OF WILLIAMS COLLEGE. IN ADDITION, THE BY-LAWS PROVIDE THAT THE PRESIDENT OF WILLIAMS COLLEGE SHALL BE A MEMBER OF THE BOARD OF TRUSTEES OF THE INSTITUTE DURING HIS OR HER TERM OF SERVICE AS PRESIDENT OF THE COLLEGE. THE BY-LAWS FURTHER PROVIDE THAT THE BOARD OF TRUSTEES OF THE INSTITUTE SHALL APPOINT, AS CHIEF EXECUTIVE OFFICER OF THE INSTITUTE, A DIRECTOR WHO SHALL BE AN EX-OFFICIO MEMBER OF THE BOARD. THE BY-LAWS AND ARTICLES OF THE INSTITUTE MAY BE AMENDED BY THE MEMBERS OF THE INSTITUTE. THE BY-LAWS PROVIDE FURTHER THAT THOSE ELECTED AS CLARK TRUSTEES, WHETHER BY THE MEMBERSHIP OF THE TRUSTEES OF WILLIAMS COLLEGE, ARE ALSO ELECTED IPSO FACTO AS MEMBERS OF THE INSTITUTE AND THAT ADDITIONAL MEMBERS MAY BE ELECTED FROM TIME TO TIME BY VOTE OF THE MEMBERS OR BY THE TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE DECISIONS RESERVED TO MEMBERS: THE SELECTION OF THE AUDITING FIRM IS RECOMMENDED BY THE GOVERNING BODY AND APPROVED BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: THE PUBLIC DISCLOSURE COPY OF THE FORM 990 IS FIRST REVIEWED AND APPROVED BY THE AUDIT COMMITTEE, AND THEN REVIEWED AND APPROVED BY THE FULL BOARD OF TRUSTEES BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT-OF-INTEREST POLICY PROCEDURES: ANNUALLY, THE CLARK REQUIRES OFFICERS, TRUSTEES, AND SENIOR MANAGERS TO COMPLETE A CONFLICT OF INTEREST STATEMENT WHICH IS DESIGNED TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, INCLUDING MATERIAL AFFILIATIONS, AND DIRECT OR INDIRECT RELATIONSHIPS. THESE STATEMENTS ARE REVIEWED TO ASCERTAIN THAT NO MATERIAL CONFLICTS EXIST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCEDURES: THE EXECUTIVE COMMITTEE, PERFORMING THE DUTIES OF A COMPENSATION COMMITTEE, MEETS ANNUALLY TO DISCUSS DIRECTOR'S COMPENSATION MATTERS. DURING THE TERM OF THE DIRECTOR'S EMPLOYMENT CONTRACT, THE COMMITTEE ENGAGED APPROPRIATE INFORMATION TO ASSESS THE COMPETITIVENESS AND REASONABLENESS OF THE DIRECTOR'S COMPENSATION PACKAGE TO THE EXTENT DEEMED NECESSARY OR APPROPRIATE. A CONSULTING FIRM UTILIZED COMPENSATION SURVEYS AND OTHER MATERIAL TO ALLOW COMPARATIVE ANALYSIS WITH SIMILAR INSTITUTIONS. THE RESULTS OF THE ANALYSIS WERE USED BY THE CHAIR OF THE COMMITTEE TO NEGOTIATE A WRITTEN CONTRACT WITH THE DIRECTOR. ANNUALLY, THE COMMITTEE RECOMMENDS TO THE TRUSTEES OF THE BOARD ANY ADDITIONAL COMPENSATION BEYOND THE DIRECTOR'S WRITTEN CONTRACT FOR FINAL APPROVAL. THE COMMITTEE ALSO REVIEWS AND APPROVES THE DIRECTOR'S RECOMMENDATION FOR COMPENSATION LEVELS FOR CERTAIN OTHER SENIOR MANAGEMENT POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC ACCESS TO GOVERNING DOCUMENTS, CONFLICT-OF-INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS: THE CLARK PROVIDES COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT-OF-INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS TO THE PUBLIC UPON WRITTEN REQUEST. AUDITED FINANCIAL STATEMENTS ARE ALSO PUBLISHED ON THE CLARK'S WEBSITE, WWW.CLARKART.EDU. FORM 990, PART I, LINE 10 AND PART VIII, LINES 3, 4, AND 7D INVESTMENT INCOME: INVESTMENT INCOME INCLUDES INTEREST, DIVIDENDS, AND REALIZED GAINS (LOSSES) FROM PUBLICLY TRADED SECURITIES AND COMMODITIES REPORTED IN PART X, LINE 11. FOLLOWING THE TRANSFER OF THE CLARK'S INVESTMENTS TO THE SUPPORTED ORGANIZATION'S INVESTMENT POOL, INVESTMENT INCOME IN THE INVESTMENT POOL IS REPORTED AS UNREALIZED GAINS/(LOSSES) IN PART XI, LINE 5. FORM 990, PART XI, LINE 9: COLLECTION ITEMS PURCHASED -4,429,946. GAIN ON DEBT EXTINGUISHMENT 1,302,489. WILLIAMS COLLEGE 880 MAIN STREET WILLIAMSTOWN MA 01267 042104847 UNDERGRADUATE EDUCATION MA 501(C)(3) LINE 2 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 WILLIAMS COLLEGE (LESS THAN 50000) N N/A WILLIAMS COLLEGE (LESS THAN 50000) P N/A WILLIAMS COLLEGE (LESS THAN 50000) Q N/A WILLIAMS COLLEGE S 13000000 CASH