2024-03-07T10:54:43-06:00 2023-06-30 510232475 Cover & Rossiter PA 2711 Centerville Road Suite 100 Wilmington DE 19808 990 2022-07-01 516020908 Brandywine Conservancy & Museum of Art BRAN 6103882700 PO Box 141 Chadds Ford PA 193170141 Virginia A Logan Executive Director & CEO 6103882700 2024-03-02 1 Virginia Logan 999009999 1 Peter S Kennedy CPA P00571422 3026566632 2024-03-02 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Virginia A Logan PO Box 141 Chadds Ford PA 193170141 53087926 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 26 170 357 0 0 17604874 13956454 971889 1355329 7039082 2119896 333761 496064 25949606 17927743 0 0 0 0 6766771 7685233 0 0 1264590 8280038 7107348 15046809 14792581 10902797 3135162 159611083 170520762 6241010 6747940 153370073 163772822 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 6240672 1520678 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. 4783883 473217 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 512 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. 11024555 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 1 1 1 0 0 0 1 1 1 0 0 1 112 0 1 170 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 26 26 1 0 1 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 Mrs Michael Matz Vice-Chair & Chair of Museum Committee 1.00 X X 0 0 0 Gregory F Fields Vice-Chair, Treasurer, & Chair of the Finance Comm 1.00 X X 0 0 0 David Harrington Assistant Treasurer & Chair of Investment Committe 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 Committee 1.00 2.00 X X 0 0 0 Linda L Bean Trustee 1.00 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 Duprey Trustee 1.00 X 0 0 0 Charles Elson Trustee 1.00 X 0 0 0 Herbert V Kohler Jr Trustee (until 9/2022) 1.00 X 0 0 0 R Thorpe Moeckel Trustee 1.00 X 0 0 0 Anne Moran Trustee 1.00 X 0 0 0 Rodman W Moorehead III Trustee 1.00 X 0 0 0 John E Osborn 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 Morris W Stroud II Trustee 1.00 2.00 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 Executive Director & Assistant Secretary 40.00 2.00 X 334057 0 62397 Karl Malkin CFO 40.00 X 165134 0 28429 Thomas Padon Museum Director 40.00 X 241586 0 29765 Robert Rudd Chief Development Officer 40.00 X 158738 0 13986 Wade Abnett Facilities Director 40.00 X 123931 0 7519 Suzanne Regnier Development Director 40.00 X 137597 0 13902 Thomas Wilt Controller 40.00 X 117715 0 7135 1278758 0 163133 10 0 1 0 Wohlsen Construction Company PO Box 4612 Lancaster PA 17604 Construction 2821054 Cooper Robertson & Partners Architects 123 William St Floor 27 New York NY 10038 Architect 581161 Service Unlimited Inc 19 Southgate Blvd New Castle DE 19720 HVAC Service 423552 Aegis Property Group 325 Chestnut St Suite 719 Philadelphia PA 19106 Real Estate Consultant 310243 SC&A Construction Inc 3411 Silverside Rd Shipley Buildin Wilmington DE 19810 Construction 292633 13 359220 566747 1527572 2529170 8973745 459051 13956454 Admission to Museum 900099 832309 832309 Conservancy Program 900099 353217 353217 Penguin Court Mgmt Fees 900099 120000 120000 Other Program Revenue 900099 49803 49803 1355329 2932536 2932536 133897 0 133897 133897 133897 33186218 33998858 -812640 -812640 -812640 472775 566747 615277 -142502 -142502 1050717 546048 504669 504669 17927743 1993895 0 1977394 624498 624498 5799566 4465589 498412 835565 256874 196808 22954 37112 556617 442718 49028 64871 447678 321323 64845 61510 109208 27079 82129 82906 82906 225993 225993 562595 494781 59685 8129 251417 58956 1519 190942 103541 65329 14377 23835 226889 17879 199963 9047 632002 628000 1238 2764 68478 66496 772 1210 92067 51642 40425 1217335 889046 328289 366756 313020 39996 13740 Collection Acquisition 1461174 1461174 Education & Public Prog 541571 541529 42 Repairs and Maintenance 508518 496384 1394 10740 Renovation Projects 272305 222669 49636 384593 264133 115377 5083 14792581 11024555 2503436 1264590 6054172 8148197 506885 510346 1637232 1015923 325680 2155714 247784 220941 343681 418015 65050543 19521138 42188806 45529405 87564035 93084679 16006886 14370194 4735922 5067348 159611083 170520762 1282533 2321924 487594 470749 3298331 2805622 1172552 1149645 6241010 6747940 X 51891244 53966397 101478829 109806425 153370073 163772822 159611083 170520762 X 3135162 6940272 327315 X X 0 1 X 1 1 1 X 8094700 4741748 16712334 17604874 13956454 61110110 8094700 4741748 16712334 17604874 13956454 61110110 12854728 48255382 1262107 1920541 2679855 3581387 3066433 12510323 73620433 9378748 0.65550 0.69670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X 512 38730.00 18 15 2 1 6420.00 258115 X X X X 0 108298214 95200 9183521 4837301 225993 112513641 125956250 552910 -13660087 4317206 233653 108298214 101651400 654292 29399379 5475035 273786 125956250 104243830 1002454 1848367 5102314 340937 101651400 103611162 1191838 4848851 5027966 380055 104243830 0.11546 0.52327 0.36127 0 0 22906844 22906844 34108754 18627257 15481497 3192264 893881 2298383 4842681 4842681 45529405 Hedge funds and private equity 14361614 F Non-endowment investments 8580 C 14370194 Other non-current liabilities 933596 Due to Penguin Court 216049 1149645 17006978 -49 4590549 4590500 12416478 5511265 5511265 17927743 12826018 0 12826018 225993 1740570 1966563 14792581 Part II, Line 3: Five conservation easements ("Prior Easements") were consolidated, amended, and restated with one consolidated easement that replaced and superseded the Prior Easements and a) delineated three Easement Areas with specific restrictions and reserved rights applicable to each based on the Prior Easements, standardized certain easement language over all Easement Areas, increased protection of woodlands, clarified restrictions on historic structure, and modified protection on another historic structure as it is no longer extant. One conservation easement was amended to relocate the Acceptable Arena Location ("AAL") and expand types of structures for the impervious limit designated for Indoor Riding Arenas to include other agricultural structures as long as they are with the amended AAL. One conservation easement was amended to allocate impervious coverage between Conservation Easement Areas. One conservation easement was amended to limit the location of the permitted Primary Structure to an Acceptable Residential Location, as shown on an amended Conservation Easement Plan. One conservation easement was amended to extinguish reserved right to build an additional Primary Residence and to remove the Acceptable Residential Location from the Conservation Easement Plan. Five conservation easements were modified by extinguishing portions of the easement area under threat of condemnation with just compensation received for each. One conservation easement was modified by extinguishment by condemnation with just compensation received. 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 4,590,549. Part XI, Line 4b - Other Adjustments: Easement acquisition receipts 296,723. Realized gain -812,640. Investment Income 2,724,414. Employee Retention Tax Credit 1,200,545. Flood relief contributions 2,052,223. Facilities reserve contributions 50,000. Part XII, Line 4b - Other Adjustments: Easement & Collections Purchases 1,461,174. Interest expense 46,900. Other non-operating expenses 50,460. Property damaage, net 182,036. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, Investments 908204 Sub-Saharan Africa - Angola, Benin, Botswana, Burkina Faso, Investments 1423927 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Investments 417969 0 0 0 0 0 0 2750100 0 2750100 1 0 0 1 1 0 Part III Accounting Method: Radnor Races 666761 566747 100014 467547 Critters 116393 116393 49853 5 256368 256368 97877 1039522 566747 472775 615277 615277 -142502 X X X 0 0 0 0 0 0 0 0 0 Virginia A Logan Executive Director & Assistant Secre 334057 0 0 0 0 0 52530 0 9867 0 396454 0 0 0 Thomas Padon Museum Director 241586 0 0 0 0 0 19898 0 9867 0 271351 0 0 0 Karl Malkin CFO 165134 0 0 0 0 0 8738 0 19691 0 193563 0 0 0 Robert Rudd Chief Development Officer 158738 0 0 0 0 0 6027 0 7959 0 172724 0 0 0 Suzanne Regnier Development Director 137597 0 0 0 0 0 12481 0 1421 0 151499 0 0 0 Richards Layton & Finger PA One Board Member is a director with the Organization's legal counsel 77941 Attorney 0 X 9 NA X NA X 31 459051 FMV 0 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 A, line 4 The Organization's by-laws were changed to move the start of trustee terms from April 15 to July 1. 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 331,426. Change in Charitable Gift Annuity -4,111. Form 990, Part XII, Line 2c: The Organization has an Audit & Finance Committee that assumes responsibility for oversight of the financial statement audit and the selection of the independent auditors. 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 1 0 Penguin Court L 120000 FMV Penguin Court O 328364 FMV Penguin Court Q 177748 FMV Penguin Court R 45379 FMV