2024-06-14T15:40:11-05:00 2023-07-31 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2022-08-01 530204620 THE PHILLIPS COLLECTION PHIL 2023872151 1600 21ST STREET NW WASHINGTON DC 20009 CHERYL NICHOLS CHIEF FINANCIAL OFFICER 2023872151 2024-06-14 1 CHERYL NICHOLS XXX-XX-XXXX 0 RICHARD J LOCASTRO CPA P00288314 3019519090 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z JOHN DESPRES 1600 21ST STREET NW WASHINGTON DC 20009 33935569 0 X WWW.PHILLIPSCOLLECTION.ORG X 1921 DC THE PHILLIPS COLLECTION IS THE OLDEST MUSEUM OF MODERN AND CONTEMPORARY ART IN THE U.S. 28 28 269 60 107607 95059 9109344 15461920 1207779 1376906 4951155 4120839 346803 308690 15615081 21268355 0 0 0 0 7714871 8980240 23584 46284 1819255 8350838 7588830 16089293 16615354 -474212 4653001 125952725 127766198 12612629 7272187 113340096 120494011 X THE PHILLIPS COLLECTION IS THE OLDEST MUSEUM OF MODERN AND CONTEMPORARY ART IN THE U.S. IN ADDITION TO PRESENTATION OF WORKS FROM THE PERMANENT COLLECTION AND SPECIAL EXHIBITIONS, THE MUSEUM MAINTAINS ACTIVE EDUCATIONAL, ACADEMIC, (CONTINUED ON SCHEDULE O)AND PUBLIC PROGRAMS, AND NUMEROUS PARTNERSHIPS WITH OTHER D.C. ARTS ORGANIZATIONS, EMBASSIES, AND EDUCATIONAL INSTITUTIONS. THE PHILLIPS TAKES PRIDE IN ITS HERITAGE AS AN INTIMATE MUSEUM COMBINED WITH AN EXPERIMENT STATION. 0 0 4796496 729718 DEVELOPMENT AND PRESENTATION OF SPECIAL EXHIBITIONS INCLUDING WORKS FROM THE MUSEUM'S OWN HOLDINGS, LOANS FROM INDIVIDUALS AND OTHER INSTITUTIONS, AND COLLABORATIONS WITH OTHER VENUES. HIGHLIGHTS FROM FY23 INCLUDE THE CONTINUATION OF LOU STOVALL: THE MUSEUM WORKSHOP, WHICH REEXAMINED THE HISTORY AND LEGACY OF THE DUPONT CENTER, AN ARTIST'S MUSEUM FOUNDED IN WASHINGTON, DC IN 1969; AN ITALIAN IMPRESSIONIST IN PARIS: GIUSEPPE DE NITTIS, A LOOK AT THE FRIENDSHIPS AND COLLABORATIONS WITH OTHER ARTISTS ALONGSIDE THE PAINTINGS OF A RELATIVELY UNKNOWN (OUTSIDE OF ITALY) CENTRAL FIGURE TO THE AESTHETIC AND INSTITUTIONAL UPHEAVALS OF 1870S PARIS; POUR, TEAR, CARVE: MATERIAL POSSIBILITIES IN THE COLLECTION, AN EXHIBITION DRAWN FROM THE PERMANENT COLLECTION TO EXPLORE HOW ARTISTS HAVE (CONTINUED ON SCHEDULE O) UTILIZED TRADITIONAL AND NONTRADITIONAL ART MATERIALS TO ACT AS CONDUITS OF MEANING; AND FRANK STEWART'S NEXUS: AN AMERICAN PHOTOGRAPHER'S JOURNEY, 1960S TO THE PRESENT, A RETROSPECTIVE OF STEWART'S PHOTOGRAPHY THAT CENTERED ON HIS SENSITIVE AND SPONTANEOUS APPROACH TO PORTRAYING WORLD CULTURES AND BLACK LIFE IN MANY FORMS. 3273001 493346 THE PHILLIPS COLLECTION WAS ABLE TO OFFER A FULL GUEST EXPERIENCE WITH OUR CAFE RE-OPENING APRIL 2023 WITH A WELL-LOVED LOCAL BAKERY AS OUR VENDOR. OUR GIFT SHOP CONTINUES TO BE ONE OF THE BEST MUSEUM SHOPS IN THE WORLD! WE ENGAGED WITH OUR AUDIENCES THROUGH ONSITE, DIGITAL, AND HYBRID PROGRAMS INCLUDING MEMBER ART TOURS, EXHIBITION OPENINGS, SUNDAY CONCERTS, AND OTHERS. WE CONNECTED WITH BOTH CURRENT AND POTENTIAL MEMBERS AND VISITORS THROUGH OUR WEBSITE, SOCIAL MEDIA, E-NEWSLETTERS, LOCAL AND REGIONAL MARKETING AND ADVERTISING, AND OUR PARTICIPATION IN THE BLOOMBERG CONNECTS APP. OUR DYNAMIC AND POPULAR 1ST THURSDAY OF THE MONTH PROGRAM, PHILLIPS AFTER FIVE, RETURNED IN SEPTEMBER 2022 AND WE OPENED OUR DOORS ON 3RD THURSDAY EVENING FREE OF CHARGE. WE WERE AGAIN ABLE TO OFFER OUR MUSEUM AS A UNIQUE AND (CONTINUED ON SCHEDULE O) CAPTIVATING LOCATION FOR EXTERNAL EVENTS THROUGHOUT THE YEAR. 2646521 418813 MANAGEMENT AND MAINTENANCE OF THE MUSEUM'S PERMANENT COLLECTION OF NEARLY 6,000 WORKS WAS ORIGINALLY CREATED BEGINNING IN 1913 BY DUNCAN PHILLIPS AND LATER HIS WIFE MARJORIE PHILLIPS AND OPENED TO THE PUBLIC IN 1921 AS THE NATION'S FIRST MUSEUM OF MODERN AND CONTEMPORARY ART. OUR NEW ACQUISITIONS REFLECT THE MUSEUM'S EFFORTS TO ENHANCE AND DIVERSIFY THE COLLECTION BY EMBRACING WORKS THAT REFLECT A NARRATIVE OF MODERN AND CONTEMPORARY ART BEYOND THE TRADITIONAL FOCUS ON EUROPEAN AND AMERICAN ART AND SPEAK TO COMMUNITIES WE ARE WORKING TO SERVE. ACTIVITIES INCLUDE CONSERVATION, ACQUISITION OF NEW WORKS THROUGH BOTH GIFT AND PURCHASE, DIGITAL REPRODUCTION FOR PUBLICATIONS AND FOR PRESENTATION ON THE MUSEUM'S WEBSITE, ARTSTOR, GOOGLE ART, AND THE MULTI-MUSEUM APP BLOOMBERG CONNECTS. (CONTINUED ON SCHEDULE O) THE HIGH QUALITY OF WORKS IN THE COLLECTION PRESENTS MANY OPPORTUNITIES FOR COLLABORATION WITH OTHER MUSEUMS BOTH FOR EXHIBITION PARTNERSHIPS AND FOR SHARING WORKS TO ENHANCE EXHIBITIONS AT OTHER VENUES. THE PHILLIPS ALSO DEVELOPS EXHIBITIONS WHICH TRAVEL TO OTHER VENUES TO GIVE THOSE LIVING OUTSIDE THE DC AREA THE OPPORTUNITY TO ENJOY THE TREASURES WE HOLD. THE PHILLIPS COLLECTION LIBRARY SUPPORTS RESEARCH ON WORKS OF ART IN THE MUSEUM'S PERMANENT COLLECTION, SPECIAL EXHIBITIONS, AND THE HISTORY OF THE MUSEUM. 2174399 104669 THE PHILLIPS PRESENTED A BROAD RANGE OF PROGRAMMING DESIGNED TO APPEAL TO THE MUSEUM'S EXPANDING VISITOR DEMOGRAPHIC. EDUCATION PROGRAMS HELP AUDIENCES SEE, CREATE, AND ENGAGE WITH ART IN NEW AND UNEXPECTED WAYS. THE PHILLIPS PROVIDES IN-DEPTH PROFESSIONAL DEVELOPMENT OPPORTUNITIES ON ARTS INTEGRATION USING THE MUSEUM'S COLLECTION AND ONLINE RESOURCES. PROFESSIONAL DEVELOPMENT OPPORTUNITIES FEATURE ARTWORKS FROM THE PHILLIPS'S SPECIAL EXHIBITIONS AND PERMANENT COLLECTION AND FOCUS ON PRISM.K12, THE MUSEUM'S ARTS INTEGRATION STRATEGIES AND MODEL FOR CULTURALLY RESPONSIVE TEACHING (HTTPS://WWW.PHILLIPSCOLLECTION.ORG/PRISMK12-STRATEGIES). PROFESSIONAL DEVELOPMENT SESSIONS ARE DESIGNED FOR TEACHERS TO EASILY INTEGRATE THE IDEAS AND ACTIVITIES INTO THEIR CLASSROOMS, AND THEY MAY TAKE PLACE AT THE MUSEUM, AT AREA SCHOOLS, OR VIRTUALLY. IN 2022-2023, THE MUSEUM REACHED 495 TEACHERS THROUGH 19 PROFESSIONAL DEVELOPMENT SESSIONS, WHICH INCLUDED THREE-HOUR SESSIONS, FIFTEEN-HOUR MULTI-WEEK PROGRAMS, AND A WEEKLONG SUMMER TEACHER INSTITUTE. ADDITIONALLY, THE MUSEUM HAS OVER 50 ONLINE LESSON PLANS AVAILABLE THROUGH THEIR WEBSITE THAT CONNECT ACROSS ALL SUBJECT AREA. WE REACHED 2,912 PK-12 STUDENTS WITHIN THE DC PUBLIC AND CHARTER SCHOOLS, MARYLAND, AND VIRGINIA DURING THE FISCAL YEAR THROUGH 102 TOURS. 79% WERE DC SCHOOLS. THE MUSEUM'S MULTI-VISIT SCHOOL PARTNERSHIP PROGRAM, ART LINKS, REACHED 1,374 STUDENTS FROM 13 SCHOOLS. THE PHILLIPS COLLECTION'S WORKSHOP AND GALLERY AT THE TOWN HALL EDUCATION ARTS RECREATION CAMPUS (THEARC) PROVIDES A SPACE TO VIEW, DISCUSS, MAKE, AND EXHIBIT ART. OUR PROGRAMS ARE CO-CREATED WITH OUR PARTNERS AND PARTICIPANTS TO ENCOURAGE AUTHENTIC COMMUNITY DIALOGUE, COMMUNITY PLANNING, AND COMMUNITY ACTION. FROM ITS VERY INCEPTION, THE PHILLIPS HAS FOCUSED ON THE HEALING POWER OF ART. OUR CREATIVE AGING PARTNERSHIP WITH IONA SENIOR SERVICES AND ARTS FOR THE AGING (AFTA) TRANSITIONED TO VIRTUAL EVENTS IN APRIL 2020. IONA'S NEW CAMPUS NEAR THEARC ALLOWS THE PHILLIPS TO SERVE MORE OLDER ADULTS IN WARDS 7 AND 8. OUR MOST POPULAR VIRTUAL OFFERING WITH AN AVERAGE OF 70 PARTICIPANTS EACH WEEK IS OUR ART-BASED MEDITATION PROGRAM, CONSISTING OF AN ART DISCUSSION LED BY THE PHILLIPS'S HEAD OF EXPERIENTIAL LEARNING AND GUIDED MEDITATION LED BY THE MUSEUM'S RESIDENT YOGA TEACHER. 2174399 104669 12890417 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 100 0 1 269 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 AL AR CA FL GA IL KS KY MD MA MI MN MS NH NJ NM NY NC OR PA RI SC TN UT VA WV WI X X CHERYL NICHOLS 2023872151 1600 21ST STREET NW WASHINGTON DC 20009 JOHN DESPRES CHAIR 3.00 X X 0 0 0 BARBARA HALL VICE CHAIR 2.00 X X 0 0 0 SALA PATTERSON VICE CHAIR 2.00 X X 0 0 0 PAMELA GWALTNEY SECRETARY 2.00 X X 0 0 0 B THOMAS MANSBACH TREASURER 2.00 X X 0 0 0 PATTY ALPER-COHN TRUSTEE 1.00 X 0 0 0 BEATRIZ BOLTON TRUSTEE (BEG. OF 10/22) 1.00 X 0 0 0 BARBARA BERISH BROWN TRUSTEE 1.00 X 0 0 0 SUSAN L BUTLER TRUSTEE 1.00 X 0 0 0 ROBERT DRUMHELLER TRUSTEE 1.00 X 0 0 0 NINA CHUNG DWYER TRUSTEE 1.00 X 0 0 0 JOSH EASTRIGHT TRUSTEE (BEG. OF 12/22) 1.00 X 0 0 0 TODD GALAIDA TRUSTEE 1.00 X 0 0 0 JULIE GARCIA TRUSTEE 1.00 X 0 0 0 BONNIE BURKE HIMMELMAN TRUSTEE 1.00 X 0 0 0 LYNNE N HORNING TRUSTEE 1.00 X 0 0 0 PAUL KILLIAN TRUSTEE 1.00 X 0 0 0 MICHELINE KLAGSBRUN TRUSTEE 1.00 X 0 0 0 GAIL LIONE TRUSTEE (BEG. OF 06/23) 1.00 X 0 0 0 JANE LOLE TRUSTEE (BEG. OF 06/23) 1.00 X 0 0 0 A FENNER MILTON TRUSTEE 1.00 X 0 0 0 JUANITA MOORE TRUSTEE 1.00 X 0 0 0 RONALD A PAUL TRUSTEE 1.00 X 0 0 0 JUDY POMERANZ TRUSTEE 1.00 X 0 0 0 HARVEY ROSS TRUSTEE 1.00 X 0 0 0 THOMAS D RUTHERFOORD JR TRUSTEE 1.00 X 0 0 0 ALICE PHILLIPS SWISTEL TRUSTEE 1.00 X 0 0 0 ELIZABETH WILLIAMS TRUSTEE 1.00 X 0 0 0 DOROTHY KOSINSKI VRADENBURG DIR. & CEO (END 03/23) 60.00 X 386045 0 65712 JONATHAN BINSTOCK VRADENBURG DIR. & CEO (BEG. 03/23) 60.00 X 0 0 0 CHERYL NICHOLS CFO 45.00 X 151576 0 45926 MICHELE WINKLER THOMAS DEPUTY DIRECTOR OF STRATEGY & COO 45.00 X 151464 0 13785 WENDY PONVERT DIRECTOR OF DEVELOPMENT 45.00 X 145904 0 35683 YUMA I TOMES HORNING CHAIR FOR DEAI 45.00 X 121312 0 18438 ELSA SMITHGALL CHIEF CURATOR 45.00 X 112327 0 27000 ANGELA GILLESPIE DIR. OF HUMAN RESOURCES 45.00 X 111852 0 32388 1180480 0 238932 10 0 1 0 MASTERPIECE INTERNATIONAL LTD 39 BROADWAY 14TH FL NEW YORK NY 10006 ART SHIPPING 336516 THYSSENKRUPP ELEVATOR PO BOX 3796 CAROL STREAM IL 601323796 ELEVATOR CONTRACTOR 256388 CROZIER FINE ARTS INC PO BOX 21089 NEW YORK NY 10087 ART SHIPPING & STORAGE 219562 OCCASIONS CATERING 655 TAYLOR ST NE WASHINGTON DC 20017 EVENT CATERING 205530 HLP ASSOCIATES INC 1200 G ST NW SUITE 800 WASHINGTON DC 20005 IT SERVICES 142426 11 1151384 544148 2244285 11522103 748337 15461920 VISITOR FEES 900099 700015 700015 FEES FROM EXHIBITIONS/LOANED ART 900099 310905 310905 MEMBERSHIP DUES 900099 137610 137610 FACILITY/EQUIP RENTAL 900099 123708 123708 MUSIC & EDUCATIONAL PROGRAMS 900099 104668 104668 1376906 1591502 107607 1483895 11005 11005 14597483 12068146 2529337 2529337 2529337 119080 544148 194860 -75780 -75780 773848 404208 369640 369640 MISCELLANEOUS 900099 3825 3825 3825 21268355 1746546 107607 3952282 1190039 831656 187744 170639 6301484 5406852 63709 830923 182597 148271 2382 31944 735049 590830 24989 119230 571071 471446 26933 72692 74251 74251 4091 4091 46284 46284 228957 228957 1153924 879315 77204 197405 275809 262856 12953 1127756 920288 83172 124296 287846 196606 58518 32722 19027 19027 682823 390097 282110 10616 152072 107107 36439 8526 442066 321882 105784 14400 1437577 899244 502731 35602 304785 280702 19705 4378 OTHER EXHIBITION EXP. 665913 663276 1760 877 EVENTS 388774 239344 35027 114403 PURCHASES OF ART 261851 261851 MISCELLANEOUS 81308 -233 81314 227 16615354 12890417 1905682 1819255 1283575 536247 6775821 6990245 155182 6928 379472 407949 228081 324412 51157797 22747602 29701029 28410195 38397062 43005754 49032503 46307360 0 1777108 125952725 127766198 2122126 998322 59931 81681 6253457 5773617 3995134 250000 181981 168567 12612629 7272187 X 30355473 34804162 82984623 85689849 113340096 120494011 125952725 127766198 4653001 2500914 0 X 0 1 X 1 0 X 15584489 6034132 11092248 9109344 15461920 57282133 15584489 6034132 11092248 9109344 15461920 57282133 11127417 46154716 1317969 740728 802034 1804557 1532162 6197450 43968 24097 37188 130311 95059 330623 1103 259 43 10418 3825 15648 63825854 12738141 0.72310 0.74870 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS - 2018 AMOUNT: $ 1,103. 2019 AMOUNT: $ 259. 2020 AMOUNT: $ 43. 2021 AMOUNT: $ 10,418. 2022 AMOUNT: $ 3,825. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 4091 4091 0 PART II-B, LINE 1: THE PHILLIPS COLLECTION ENGAGES LOBBYISTS WHO REPRESENT THE NATIONAL CAPITAL ARTS CONSORTIUM-AN INFORMAL COOPERATIVE UNDERTAKING IN WHICH THE PHILLIPS COLLECTION PARTICIPATES. THE LOBBYISTS PROVIDE INFORMATION ABOUT THE AVAILABILITY AND METHODOLOGY FOR OBTAINING FUNDS FROM THE FEDERAL GOVERNMENT, DC GOVERNMENT, INDUSTRIES, AND FOUNDATIONS, AND EDUCATE LAWMAKERS ON THE NECESSITY FOR SUCH FUNDS AS WASHINGTON, DC HAS NO STATE ARTS ORGANIZATION. X X X X 0 81825591 4786206 6123186 7702904 85032079 85714181 545805 -1389791 3044604 81825591 64081984 4466106 19212794 2046703 85714181 63985176 327524 3099599 3330315 64081984 57732238 7912188 1663226 3322476 63985176 0.11520 0.70410 0.18070 0 0 833240 833240 46963779 20586388 26377391 14995 8497 6498 2742157 1864384 877773 603626 288333 315293 28410195 ALTERNATIVE FUNDS - FLEXIBLE CAPITAL 29238630 F ALTERNATIVE FUNDS - PRIVATE FUNDS 17068730 F 46307360 GIFT ANNUITY DEBT 61102 CAPITAL LEASE OBLIGATION 107465 168567 X 21584372 -16792 287088 3549873 3820169 17764203 3504152 3504152 21268355 17248162 287088 656498 943586 16304576 310778 310778 16615354 PART III, LINE 1A: WORKS OF ART IN THE MUSEUM'S COLLECTION ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF ART ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IF PURCHASED WITH ASSETS WITHOUT DONOR RESTRICTIONS AND ARE RECORDED AS DECREASES IN NET ASSETS WITH DONOR RESTRICTIONS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. CONTRIBUTIONS OF COLLECTION ITEMS ARE NOT RECOGNIZED IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS; HOWEVER, CERTAIN CONTRIBUTIONS ARE RECORDED AS INCREASES IN NET ASSETS WITH DONOR RESTRICTIONS IF A DONOR MAKES A CONTRIBUTION INTENDED TO FUND THE SUBSEQUENT PURCHASE OF ART. PROCEEDS FROM THE SALE OF DEACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS. THERE WERE NO DEACCESSIONS OR SALES OF ARTWORK DURING EACH OF THE YEARS ENDED JULY 31, 2023 AND 2022. PART III, LINE 4: AS STATED IN ARTICLE 3 OF THE COLLECTION'S ARTICLES OF INCORPORATION, THE FOCUS OF THE PERMANENT COLLECTION IS THE EMERGENCE OF MODERN ART IN EUROPE AND THE UNITED STATES IN THE LATE NINETEENTH AND THE TWENTIETH CENTURIES (NOW THE 21ST AS WELL), AND IN PARTICULAR THE EXPRESSIVE, INDIVIDUALISTIC, COLORFUL, NATURE-BASED ART FAVORED BY DUNCAN PHILLIPS. PHILLIPS WISHED FOR THE MUSEUM TO CONTINUE TO COLLECT CONTEMPORARY ART OF THE KIND HE FAVORED SO THAT LIVING AND EMERGING ARTISTS WOULD HAVE A VENUE TO SHOW THE RESULTS OF THEIR RESEARCH AND THEIR AESTHETIC ADVENTURES. THE COLLECTION PERMITS THE MUSEUM TO PROVIDE OUTSTANDING EXHIBITIONS AND RELATED ART PROGRAMMING FOR THE EDUCATION OF THE PUBLIC. PART V, LINE 4: THE MUSEUM'S ENDOWMENT IS INVESTED TO PROVIDE INCOME FOR OPERATIONS, FOR PROGRAMS AND EXHIBITIONS, FOR DISPLAY AND PRESERVATION OF THE PERMANENT COLLECTION, AND FOR PURCHASES OF WORKS OF ART. PART V, COLUMN (E) FOUR YEARS BACK: THE ENDOWMENT INFORMATION FOR FY19 WAS UPDATED FROM PRIOR YEAR TO INCLUDE THE QUASI-ENDOWMENT. PART X, LINE 2: FOR THE YEARS ENDED JULY 31, 2023 AND 2022, THE COLLECTION HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ENDOWMENT EARNINGS TRANSFERRED FOR OPERATIONS 3,492,443. INCLUDED IN REVENUE ON THE FINANCIAL STATEMENTS AND EXCLUDED FROM REVENUE ON FORM 990, PART VIII. EXHIBITION PARTICIPATION FEES INCLUDED IN EXPENSES 57,430. ON THE FINANCIAL STATEMENT AND NETTED AGAINST REVENUE ON FORM 990, PART VIII. PART XI, LINE 4B - OTHER ADJUSTMENTS: REALIZED GAINS, NON-OPERATING, REPORTED AS AN "OTHER ITEM" 3,575,110. ON THE FINANCIAL STATEMENTS AND INCLUDED AS REVENUE ON FORM 990, PART VIII. GALA EXPENSES EXCLUDED FROM REVENUE ON THE FINANCIAL -194,860. STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII. SHOP COST OF GOODS SOLD EXCLUDED FROM REVENUE ON -404,208. THE FINANCIAL STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII. INTEREST, NON-OPERATING, REPORTED AS AN "OTHER ITEM" 528,110. ON THE FINANCIAL STATEMENTS AND INCLUDED AS REVENUE ON FORM 990, PART VIII. PART XII, LINE 2D - OTHER ADJUSTMENTS: GALA EXPENSES INCLUDED IN EXPENSES ON THE FINANCIAL 194,860. STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII. SHOP COST OF GOODS SOLD INCLUDED IN EXPENSES ON THE 404,208. FINANCIAL STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII. EXHIBITION PARTICIPATION FEES INCLUDED IN EXPENSES 57,430. ON THE FINANCIAL STATEMENT AND NETTED AGAINST REVENUE ON FORM 990, PART VIII. PART XII, LINE 4B - OTHER ADJUSTMENTS: UBIT TAX EXPENSE REPORTED AS AN "OTHER ITEM" ON THE 81,822. FINANCIAL STATEMENTS AND INCLUDED AS AN EXPENSE ON FORM 990, PART IX. INVESTMENT FEES, NON-OPERATING, REPORTED AS AN "OTHER ITEM" 228,956. ON THE FINANCIAL STATEMENTS AND INCLUDED AS AN EXPENSE ON FORM 990, PART IX. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS IN REGION 25154336 0 0 0 0 0 0 25154336 0 25154336 1 0 1 1 1 0 PART III ACCOUNTING METHOD: X 1 DANILLER COMPANY 3724 JEFFERSON STREET SUITE 302 AUSTIN TX 78731 MEMBER ACQUISITION MAILINGS 0 91432 46284 45148 91432 46284 45148 AL AK AR CA CO CT DC FL GA IL KS KY ME MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI ANNUAL GALA 663228 544148 119080 122228 72632 663228 544148 119080 122228 72632 194860 -75780 X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 DOROTHY KOSINSKI VRADENBURG DIR. & CEO (END 03/23) 336045 0 50000 0 0 0 42064 0 23648 0 451757 0 0 0 CHERYL NICHOLS CFO 151576 0 0 0 0 0 27000 0 18926 0 197502 0 0 0 WENDY PONVERT DIRECTOR OF DEVELOPMENT 135904 0 10000 0 0 0 26896 0 8787 0 181587 0 0 0 MICHELE WINKLER THOMAS DEPUTY DIRECTOR OF STRATEGY & COO 151464 0 0 0 0 0 13785 0 0 0 165249 0 0 0 PART I, LINE 1A THE PHILLIPS COLLECTION PAID 1/2 OF THE COST OF A MEMBERSHIP TO A SOCIAL CLUB FOR DOROTHY KOSINSKI DURING HER TENURE AS DIRECTOR. SHE SOMETIMES MET WITH DONORS AND OTHER VIPS AT THE CLUB. THIS WAS NOT REPORTED AS TAXABLE COMPENSATION, AS THE MEMBERSHIP WAS SEEN AS BENEFITING THE PHILLIPS COLLECTION. A DISTRICT OF COLUMBIA 536001131 254839E82 2012-11-01 27000000 MUSEUM EXPANSION - DC 30 YEAR BOND ISSUED IN 2003 & REISSUED IN 2012 & 2022. 0 0 0 A 21124851 27000000 27000000 2006 0 0 0 1 A 0 0 0 0 0 0 0 A 0 0 0 1 0 0 0 0 0 A 0 X 373 0 X 31 716988 TRADE CONFIRMATIONS X BEVERAGE 1 30049 DONOR CONFIRMATION X EXHIBITION CATALOGS 1 1000 DONOR CONFIRMATION X FLOWERS 1 300 DONOR CONFIRMATION 14 0 1 0 PART I, COLUMN (B): FOR WORKS OF ART DONATIONS, THIS COLUMN REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FOR STOCK DONATIONS, CATALOGS, FLOWERS, AND FOOD AND BEVERAGE DONATIONS, THE NUMBER REFLECTED IS THE NUMBER OF DONATIONS RECEIVED. PART I, LINE 33: THE ORGANIZATION DOES NOT REPORT THE VALUE OF ART HOLDINGS ON ITS FINANCIAL STATEMENT. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERSHIP. THE CLASS SHALL INCLUDE, WHEN POSSIBLE, ONE OR MORE MEMBERS OF THE FAMILY OF THE FOUNDER, DUNCAN PHILLIPS. FORM 990, PART VI, SECTION A, LINE 7A THE CHAIR OF THE GOVERNING BOARD SHALL BE DETERMINED BY THE VOTE OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCIAL STATEMENTS WERE PREPARED BY MANAGEMENT AND AUDITED BY THE MUSEUM'S INDEPENDENT AUDITORS. THE FORM 990 WAS PREPARED BY MANAGEMENT AND REVIEWED BY THE MUSEUM'S EXTERNAL TAX ACCOUNTANTS. THE AUDIT COMMITTEE OF THE BOARD IS CHARGED WITH REVIEWING THE AUDITED FINANCIALS AND THE ANNUAL 990 FILING. THESE DOCUMENTS ARE REVIEWED IN SPECIAL MEETINGS OF THE COMMITTEE ATTENDED BY MUSEUM STAFF AND (IN THE INSTANCE OF THE AUDITED FINANCIALS) THE EXTERNAL AUDITORS. FORM 990, PART VI, SECTION B, LINE 12C KEY EMPLOYEES ARE REQUIRED TO COMPLY WITH THE CONFLICTS OF INTEREST POLICY DETAILED IN THE STAFF HANDBOOK. LETTERS REITERATING THE POLICY FOR BOARD MEMBERS ARE SENT PERIODICALLY TO EACH BOARD MEMBER AS PART OF THE ANNUAL AUDIT PROCESS. EACH BOARD MEMBER IS REQUIRED TO SEND A WRITTEN RESPONSE INDICATING HIS/HER COMPLIANCE. IF A CONFLICT WERE TO ARISE, IT WOULD BE RESOLVED BY DISCUSSION WITH THE BOARD CHAIR AND AUDIT CHAIR, LEGAL COUNSEL, AND THE BOARD MEMBER AS TO THE APPROPRIATE RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15A THE DIRECTOR OF THE MUSEUM WAS HIRED WITH THE ASSISTANCE OF A SEARCH FIRM WITH MAJOR NOT-FOR-PROFIT CLIENTS. ITS SALARY RECOMMENDATION WAS BASED UPON COMPARABLES FROM THAT FIRM'S EXPERIENCE AS WELL AS ON NATIONAL STATISTICAL SURVEYS. THE DIRECTOR'S SALARY IS DETERMINED BY THE BOARD'S CHAIR AND APPROPRIATE COMMITTEE BASED UPON PERFORMANCE RESULTS, BUDGET CAPACITY, AND COMPARABLES WITH OTHER MUSEUMS. INCREASES ARE SET IN THE EMPLOYMENT CONTRACT. ALL OTHER EMPLOYEES ARE HIRED IN SALARY RANGES UTILIZING LOCAL AND/OR NATIONAL STATISTICAL SURVEYS. INCREASES IN COMPENSATION OUTSIDE OF DC MINIMUM WAGE REQUIREMENTS ARE DETERMINED BY THE DIRECTOR IN CONSULTATION WITH THE CFO, DIRECTOR OF H.R. AND/OR SENIOR LEADERSHIP BASED UPON PERFORMANCE RESULTS AND IN COMPARISON WITH OTHER INSTITUTIONS BASED UPON STATISTICAL SURVEYS. FOR PROFESSIONAL STAFF, THE MOST COMMON SURVEY USED IS THE AMERICAN ASSOCIATION OF MUSEUM DIRECTORS ANNUAL SALARY SURVEY. THE LAST SALARY REVIEW TOOK PLACE IN SUMMER 2023 USING GENERAL DC MARKET DATA AND A 2023 SALARY SURVEY. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, AUDITED FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE BY REQUEST. THE AUDITED FINANCIAL STATEMENTS ARE ALSO AVAILABLE IN SUMMARY FORM WITHIN THE MUSEUM'S MEMBER MAGAZINE EACH YEAR. THE LAST 10 YEARS' AUDITED FINANCIAL STATEMENTS AND 990S ARE POSTED ON THE MUSEUM'S WEBSITE.