2024-08-29T07:24:32-05:00 2024-03-31 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2023-04-01 251596285 FRICK ART & HISTORICAL CENTER INC FRIC 4123710600 7227 REYNOLDS STREET PITTSBURGH PA 152082919 ELIZABETH BARKER EXECUTIVE DIRECTOR 4123710600 2024-08-26 1 0 ERIN F WOOD P01710275 4122613644 2023 2024-08-08 14:25:15Z THE FRICK PITTSBURGH ELIZABETH BARKER 7227 REYNOLDS STREET PITTSBURGH PA 152082919 68017602 0 X WWW.THEFRICKPITTSBURGH.ORG X 1988 PA FURTHERING THE VISION OF HELEN CLAY FRICK, WE SHARE AUTHENTIC EXPERIENCES WITH ART, HISTORY AND NATURE THAT INSPIRE AND DELIGHT. 32 32 172 44 0 0 5396596 4593591 240037 407646 1371152 5519389 302747 410418 7310532 10931044 83372 3000 0 0 4517922 4324619 4700 16525 612842 4076944 4268920 8682938 8613064 -1372406 2317980 106149828 112726826 938215 554534 105211613 112172292 X SEE SCHEDULE O 0 0 4716916 EXHIBITION & PRESERVATION - THE FRICK PITTSBURGH SERVES OUR COMMUNITY WITH AN APPEALING RANGE OF PUBLIC EXHIBITIONS, TOURS, EDUCATIONAL PROGRAMS, AND EVENTS OFFERED IN THREE MUSEUMS, AN EDUCATION CENTER, AND OTHER PUBLIC BUILDINGS ACROSS A PARKLIKE 10-ACRE SITE. (CONTINUED ON SCHEDULE O)IN FY24, THE FRICK'S DIVERSE PROGRAM OF OFFERINGS HAS INCLUDED THREE EXHIBITIONS: "FROM STAGE TO PAGE: 400 YEARS OF SHAKESPEARE IN PRINT" (APRIL 1, 2023 - MARCH 31, 2024) "PITTSBURGH AND THE GREAT MIGRATION: BLACK MOBILITY AND THE AUTOMOBILE" (MAY 6, 2023 - FEBRUARY 4, 2024) "THE RED DRESS: A GLOBAL COLLABORATIVE EMBROIDERY PROJECT" (OCTOBER 7, 2023 - JANUARY 28, 2024) AND TWO OUTDOOR ART INSTALLATIONS:DUQUESNE SOUNDWALK AT THE FRICK (OPENED MARCH 28, 2023)"VANESSA GERMAN: RECKONING PLACE AND IMAGINATION" (OPENED NOVEMBER 7, 2023)IN THE 53 YEARS SINCE THE FRICK ART MUSEUM FIRST OPENED ITS DOORS, WE HAVE WELCOMED MORE THAN 1,000,000 VISITORS TO THE FRICK PITTSBURGH. OUR COLLECTION OF MUSEUMS, VISITOR AMENITIES AND VERDANT CAMPUS ARE A TREASURE OF PITTSBURGH'S EAST END. PRESERVATION AND CAPITAL IMPROVEMENT PROJECTS COMPLETED OR BEGUN IN FY24 WILL ENHANCE IT ALL FROM THE FRICK ART MUSEUM TO CLAYTON, FROM THE CAR AND CARRIAGE MUSEUM TO THE GREENHOUSE AND CAFE. TOGETHER THESE PROJECTS IMPROVE ACCESSIBILITY TO OUR SITE, PRESERVE OUR COLLECTIONS FOR FUTURE GENERATIONS, AND ENHANCE THE BEAUTY AND SAFETY OF OUR GARDEN CAMPUS. SPECIFICALLY, THE FRICK COMPLETED ROOF REPLACEMENT IN THE CAR & CARRIAGE MUSEUM AND MADE IMPROVEMENTS IN THE FRICK ART MUSEUM. THIS WORK INCLUDES CREATING AN ACCESSIBLE FRONT ENTRANCE THROUGH INSTALLATION OF A NEW DOOR AND AUTOMATED DOOR OPENERS; BUILDING AN ALL-GENDERS, ADA COMPLIANT FAMILY RESTROOM ON THE MAIN FLOOR AND CORRECTING CLIMATE INCONSISTENCIES THAT WERE JEOPARDIZING ARTWORKS. CLAYTON IMPROVEMENTS INCLUDE COMPLETION THE RESTORATION OF CLAYTON'S SIX CHIMNEYS; INSTIGATION OF A DETAILED ASSESSMENT AND STUDY OF THE HOME'S EXTERIOR BY A TEAM OF CONSULTANTS TO PROVIDE ESSENTIAL INFORMATION FOR PLANNING FUTURE WORK ON THE EXTERIOR OF THE HISTORIC HOME.ON JUNE 10, 2024, THE PENNSYLVANIA HISTORIC PRESERVATION BOARD VOTED TO RECOMMEND THE FRICK'S NATIONAL REGISTER APPLICATION FOR APPROVAL TO THE NATIONAL PARK SERVICE. WE ARE ONE STEP CLOSER TO RECEIVING OUR NATIONALLY RECOGNIZED HISTORIC DESIGNATION. 2098819 3000 817734 VISITOR EXPERIENCE & INTERPRETATION - EDUCATORS, STUDENTS, AND CURIOUS COMMUNITY MEMBERS ACCESS THE FRICK IN VARIOUS WAYS. FAMILIES WITH CHILDREN PARTICIPATE IN DROP-IN EDUCATIONAL ACTIVITIES THROUGHOUT THE YEAR AND ATTEND OUR SEASONAL FESTIVALS. IN FY24, MORE THAN 15,000 PEOPLE ATTENDED THE FOUR FREE OUTDOOR CONCERTS IN OUR POPULAR SUMMER FRIDAYS SERIES EVENINGS OF MUSIC, ARTMAKING, PICNICS, AND FOOD TRUCKS. AN ADDITIONAL 3,000 PEOPLE POURED INTO OUR 2-DAY FRICK WINTERFEST, FEATURING GLASSBLOWING DEMONSTRATIONS, ARTMAKING ACTIVITIES, LIVE MUSIC, FACE-PAINTING, POP-UP SHAKESPEARE PERFORMANCES, AND MORE. THE FRICK'S SUMMER CAMPS AND FAMILY ACTIVITY DAYS OFFER ADDITIONAL OPPORTUNITIES FOR YOUNG PEOPLE TO LEARN ABOUT SELF-EXPRESSION THROUGH ART AND MOVEMENT THROUGHOUT THE YEAR. (CONTINUED ON SCHEDULE O)LEARNERS OF ALL AGES PARTICIPATE IN MUSEUM TOURS AND GALLERY CONVERSATIONS, COMMUNITY FIELD TRIPS, LECTURES, PANEL PRESENTATIONS, CONCERTS, AND ART-MAKING ACTIVITIES. PARTICIPATION IN CLAYTON (THE FRICK FAMILY MANSION) TOURS HAS INCREASED BY 55% SINCE OUR SOFT REOPENING OF THE HISTORIC HOME IN FY23. THE NEW CLAYTON TOUR PLACES THE FRICK FAMILY'S STORY WITHIN THE LARGER CONTEXT OF PITTSBURGH'S HISTORY. FOCUSED ON THE MOMENTOUS YEAR OF 1892, IT ADDRESSES THE HOMESTEAD STRIKE, THE ASSASSINATION ATTEMPT ON FRICK'S LIFE, AND THE SOCIETAL AND ENVIRONMENTAL IMPACT OF THE GILDED AGE ON OUR LIVES TODAY. AWARDED AN INNOVATION PRIZE BY PA MUSEUMS, THE TOUR RECENTLY WON A PRESTIGIOUS "AWARD OF EXCELLENCE" BY THE AMERICAN ASSOCIATION FOR STATE AND LOCAL HISTORY. OUR INTIMATELY SCALED MUSEUMS AND COMMITMENT TO PERSONALIZED SERVICE DEFINES OUR EDUCATIONAL OFFERINGS. SCHOOL GROUPS ENJOY FIELD TRIPS DEVELOPED SPECIFICALLY BY FRICK EDUCATORS WORKING WITH TEACHERS TO MEET THE NEEDS OF EACH CLASS, AND TEACHERS RETURN ON THEIR OWN FOR REGULARLY OFFERED TEACHER TRAINING WORKSHOPS. FRICK TEACHERS WORK WITH COMMUNITY PARTNER AFTERSCHOOL PROGRAMS (INCLUDING VOICES AGAINST VIOLENCE AND THE OASIS PROJECT) TO DEVELOP CURRICULA AND OFFER MEANINGFUL LEARNING OPPORTUNITIES. THE FRICK ROUTINELY PROVIDES ART-MAKING SUPPLIES FOR SUCH ACTIVITIES AND LINKS LEARNING PROJECTS, WHEN POSSIBLE, TO MUSEUM VISITS. THE FRICK STRIVES TO REMOVE COST BARRIERS TO PARTICIPATION. ADMISSION TO OUR PARKLIKE CAMPUS AND COLLECTIONS IS FREE TO ALL. WE PRIORITIZE OFFERING FREQUENT COMPLIMENTARY PUBLIC PROGRAMS AND FREE EXHIBITION ADMISSION DAYS. TEACHERS, STUDENTS, SENIORS, YOUTH AGED 17 AND UNDER, PEOPLE WITH DISABILITIES, FIRST RESPONDERS, VETERANS, ACTIVE MILITARY, AND RESERVES RECEIVE DISCOUNTED PROGRAM AND MEMBERSHIP FEES. THE FRICK PARTICIPATES IN MUSEUMS FOR ALL, WHICH FEATURES A $1 EBT ADMISSION RATE. 6815735 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 100 0 1 172 1 0 0 0 0 0 0 0 0 0 0 0 0 X 32 32 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA X X LISA GEHRING DIRECTOR OF FINANCE 4123710600 7227 REYNOLDS STREET PITTSBURGH PA 152082919 X ROBERT M HERNANDEZ CHAIR 7.50 X X 0 0 0 EDWARD H DANE VICE CHAIR 7.50 X X 0 0 0 STEVEN M PAVSNER SECRETARY 7.50 X X 0 0 0 NANCY BROMALL BARRY TREASURER 7.50 X X 0 0 0 MARY LOUISE BABST TRUSTEE 2.00 X 0 0 0 ALICE BURDEN TRUSTEE 2.00 X 0 0 0 BERNARD CARTER TRUSTEE 2.00 X 0 0 0 STEPHEN CASEY TRUSTEE 2.00 X 0 0 0 MARGOT DERMODY TRUSTEE 2.00 X 0 0 0 WILLIAM DONOVAN TRUSTEE 2.00 X 0 0 0 KATE FREED TRUSTEE 2.00 X 0 0 0 BARTLEY GRIFFITH TRUSTEE 2.00 X 0 0 0 PAUL T HARPER TRUSTEE 2.00 X 0 0 0 LEON E HAYNES III TRUSTEE 2.00 X 0 0 0 BARBARA NOBLE HOWARD TRUSTEE 2.00 X 0 0 0 SUSAN HUNTER TRUSTEE 2.00 X 0 0 0 KIRK JOHNSON TRUSTEE 2.00 X 0 0 0 JONATHAN D KESSLER TRUSTEE 2.00 X 0 0 0 RUSSELL LIVINGSTON TRUSTEE 2.00 X 0 0 0 CAROL S MACPHAIL TRUSTEE 2.00 X 0 0 0 LAURA MILLER TRUSTEE 2.00 X 0 0 0 KELLY MILLER TRUSTEE 2.00 X 0 0 0 WHITNEY S MORGAN TRUSTEE 2.00 X 0 0 0 NATALIE DELLA ROSA TRUSTEE 2.00 X 0 0 0 MICHAEL RUCK TRUSTEE 2.00 X 0 0 0 ROBERT SCHUETZ TRUSTEE 2.00 X 0 0 0 BRIAN SLOAN TRUSTEE 2.00 X 0 0 0 MAUREEN STALEY-SZABO TRUSTEE 2.00 X 0 0 0 SCOTT SYMINGTON TRUSTEE 2.00 X 0 0 0 ISABEL TRAFTON TRUSTEE 2.00 X 0 0 0 BONNIE VANKIRK TRUSTEE 2.00 X 0 0 0 BRITTON P WEAN TRUSTEE 2.00 X 0 0 0 ELIZABETH BARKER EXECUTIVE DIRECTOR 40.00 X 274502 0 30538 LISA GEHRING DIRECTOR OF FINANCE 40.00 X 107677 0 33439 ROBERT HENNINGER DIRECTOR OF OPERATIONS 40.00 X 115124 0 47552 497303 0 111529 3 0 1 0 ALLEGHENY CONSTRUCTION GROUP INC PO BOX 425 BRIDGEVILLE PA 15017 CONSTRUCTION 515047 GRACIANO CORPORATION 209 SIGMA DRIVE PITTSBURGH PA 15238 CONSTRUCTION 283233 SLINGSHOT LLC 208 N MARKET STREET DALLAS TX 75202 ADVERTISING 238493 RUTHRAUFF SERVICE LLC 419 EAST MAIN STREET CARNEGIE PA 15106 HVAC 213060 PERSPECTUS ARCHITECTURE 1300 EAST 9TH ST STE 910 CLEVELAND OH 44114 ARCHITECTURE 147785 7 342047 1702456 2549088 35660 4593591 ADMISSIONS 900099 276565 276565 PROGRAMS 900099 131081 131081 407646 2116339 2116339 330 330 60224786 56821736 3403050 3403050 3403050 674910 264822 410088 410088 10931044 817734 0 5519719 3000 3000 481251 369784 74193 37274 2863214 2171322 371331 320561 117909 87087 16810 14012 635050 472835 116850 45365 227195 162421 38435 26339 7496 7496 54600 54600 36000 36000 16525 16525 109061 109061 556729 491012 45710 20007 423681 402830 5125 15726 152636 104529 29908 18199 228158 191885 27514 8759 802286 744498 38665 19123 20983 14658 3712 2613 11770 2235 5110 4425 1025344 954492 69710 1142 153709 27692 126017 EXHIBITIONS 318565 318565 SECURITY 132145 113031 13013 6101 EDUCATION 22652 22652 213105 161207 31227 20671 8613064 6815735 1184487 612842 X 140108 -35716 182550 637320 2101933 3440669 168403 206141 98172 167777 31467862 12531874 19373254 18935988 70432324 75691034 5420512 5096396 8232572 8587217 106149828 112726826 824122 403881 49039 106734 65054 43919 938215 554534 X 101861838 108432169 3349775 3740123 105211613 112172292 106149828 112726826 2317980 4642699 0 X X 0 1 X 1 1 1 X 2626416 4090703 6326967 5396596 4593591 23034273 71500 71500 71500 71500 71500 357500 2697916 4162203 6398467 5468096 4665091 23391773 1262258 22129515 1825086 1660731 1542606 2906695 2116669 10051787 33443560 3271368 0.66170 0.66110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 36000 0 0 36000 0 PART II-B, LINE 1: THE FRICK PITTSBURGH ENGAGED THE CAMERON COMPANIES (APRIL 2023 - FEBRUARY 2024) TO ADVOCATE FOR LEGISLATION AND AWARDING OF GRANTS FROM THE STATE OF PENNSYLVANIA. DUE TO A COMPANY MERGER, SERVICES FROM MARCH 2024 AND BEYOND WERE DONE THROUGH ONE+ STRATEGIES. 8543298 X X X X 0 74354166 5000 9991799 3248663 111319 80990983 85958798 -6806143 4685283 113206 74354166 86746721 2356166 3020718 123371 85958798 64915072 24430881 2475724 123508 86746721 76430607 -7064058 4330017 121460 64915072 0.99953 0.00047 0.00000 0 0 111750 111750 28810541 10714128 18096413 473879 473879 1480265 1273518 206747 591427 544228 47199 18935988 PERMANENT COLLECTION OF ART AND ARTIFACTS 8543298 RIGHT OF USE ASSET 43919 8587217 OPERATING LEASE LIABILITY 43919 43919 X 15801004 4642699 71500 264822 4979021 10821983 109061 109061 10931044 8840325 71500 264822 336322 8504003 109061 109061 8613064 PART III, LINE 4: THE COLLECTIONS AT THE FRICK ARE AT THE CENTER OF THE MUSEUM'S MISSION TO SERVE THE PUBLIC THROUGH PRESERVATION, PRESENTATION AND INTERPRETATION OF FINE AND DECORATIVE ARTS AND HISTORICALLY SIGNIFICANT ARTIFACTS. ENCOMPASSING FINE AND DECORATIVE ARTS, CARRIAGES, CARS, BUILDING AND EPHEMERA RELATED TO THE PITTSBURGH FAMILY LIFE OF GILDED AGE INDUSTRIALIST HENRY CLAY FRICK, THESE COLLECTIONS FORM THE CORE OF WHAT IS NOW DISPLAYED IN THE EXHIBITION VENUES. PART V, LINE 4: THE FRICK'S ENDOWMENT CONSISTS OF VARIOUS INVESTMENT FUNDS ESTABLISHED OR DESIGNATED PRIMARILY FOR SUPPORT OF THE ORGANIZATION'S MISSION. ITS ENDOWMENT INCLUDES DONOR-RESTRICTED ENDOWMENT FUNDS AND THOSE DESIGNATED BY THE BOARD. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE FRICK TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE BOARD OF THE FRICK HAS ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 (ACT 141) FOR THE DONOR-RESTRICTED ENDOWMENT FUNDS. ACT 141 PERMITS ELECTION OF A TOTAL RETURN POLICY THAT ALLOWS A NONPROFIT TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE MARKET VALUE OF THE ENDOWMENT'S INVESTMENTS WITH DONOR RESTRICTION AS INCOME EACH YEAR. HOWEVER, THE LONG-TERM PRESERVATION OF THE REAL VALUE OF THE ASSETS MUST BE TAKEN INTO CONSIDERATION WHEN THE BOARD ELECTS THE AMOUNT. THE FRICK HAS ELECTED A POLICY THAT REQUIRES THE CORPUS OF THE NET ASSETS WITH DONOR RESTRICTION TO BE MAINTAINED, NOTWITHSTANDING INVESTMENT PERFORMANCE TO THE CONTRARY. IN ACCORDANCE WITH ACT 141, THE FRICK HAS ADOPTED A WRITTEN INVESTMENT POLICY, OF WHICH A SECTION SPECIFICALLY RELATES TO THE ENDOWMENT FUND. THE FRICK CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE FOR BOTH THE DONOR-RESTRICTED AND BOARD-DESIGNATED ENDOWMENT FUNDS: 1. PROTECTING THE CORPUS OF THE ENDOWMENT FUND. 2. PRESERVING THE SPENDING POWER OF THE ASSETS. 3. OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION. 4. COMPLYING WITH APPLICABLE LAWS. THE FRICK HAS NOT ADOPTED ACT 141 FOR THE FUNDS THAT ARE BOARD-DESIGNATED FOR ENDOWMENT. THESE FUNDS ARE MONITORED BY THE INVESTMENT COMMITTEE OF THE BOARD UNDER OPERATION OF THE INVESTMENT POLICY AND DISTRIBUTIONS ARE DETERMINED ON AN ANNUAL BASIS. RETURN OBJECTIVES AND RISK PARAMETERS - THE FRICK HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A REASONABLE LEVEL OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO ENHANCE THE PURCHASING POWER OF THE FUND'S CORPUS BY STRIVING FOR LONG-TERM GROWTH. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE ORGANIZATION MUST HOLD IN PERPETUITY OR FOR A DONOR SPECIFIED PERIOD, AND BOARD-DESIGNATED ENDOWMENT FUNDS. UNDER THIS POLICY, AS APPROVED BY THE BOARD, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT EXCEED THE PRICE AND YIELD RESULTS OF A BLENDED BENCHMARK OF EQUITY, FIXED INCOME, PRIVATE EQUITY AND OTHER LONG-TERM INVESTMENTS. STRATEGIES EMPLOYED FOR ACHIEVING OBJECTIVES - TO SATISFY ITS LONG-TERM RATE-OF-RETURN OBJECTIVES, THE FRICK RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THE FRICK TARGETS A DIVERSIFIED ASSET ALLOCATION TO ACHIEVE ITS LONG-TERM RETURN OBJECTIVES WITHIN PRUDENT RISK CONSTRAINTS. THE INVESTMENT COMMITTEE, WITH COUNSEL FROM INVESTMENTS ADVISERS, ESTABLISHES INVESTMENT POLICY, INCLUDING ASSET ALLOCATION. SPENDING POLICY AND INVESTMENT OBJECTIVES RELATED TO SPENDING POLICY - THE FRICK ANNUALLY TRANSFERS UP TO APPROXIMATELY 5% OF THE PREVIOUS 12 QUARTERS' MARKET VALUE AVERAGE OF THE BOARD-DESIGNATED ENDOWMENT FUND TO UNDESIGNATED NET ASSETS WITHOUT DONOR RESTRICTIONS FOR USE IN CURRENT AND FUTURE OPERATIONS. THE PERCENTAGE IS APPLIED TO THE 12-QUARTER AVERAGE MARKET VALUE OF THE INVESTMENTS AT DECEMBER 31 OF THE PREVIOUS YEAR. THE MAXIMUM DRAW FOR THE YEARS ENDED MARCH 31, 2024 AND 2023 WAS APPROXIMATELY $3,899,000 AND $3,910,000, RESPECTIVELY. DURING THE YEAR ENDED MARCH 31, 2024, THE DRAWDOWN OF ENDOWMENT NET ASSETS APPROXIMATED $3,899,000. IN ADDITION, THE FRICK USES BOARD-DESIGNATED ENDOWMENT FUNDS TO SUPPORT THE GENERAL OPERATIONS. AMOUNTS INVESTED IN THE ENDOWMENT OR DRAWN FROM THE ENDOWMENT ON AN ANNUAL BASIS ARE INCLUDED IN THE LINE (DE-DESIGNATED FROM) DESIGNATED FOR ENDOWMENT. THE FRICK BELIEVES THAT THIS SPENDING POLICY IS CONSISTENT WITH THE FRICK'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. THE DRAW FOR FISCAL YEAR ENDING MARCH 31, 2025 IS EXPECTED TO BE APPROXIMATELY $3,909,000. PART X, LINE 2: THE FRICK ACCOUNTS FOR UNCERTAIN TAX POSITIONS ACCORDING TO THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (CODIFICATION) TOPIC INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE FRICK HAS MADE THE ASSESSMENT AND, AS OF MARCH 31, 2024 AND 2023, HAS DETERMINED THERE ARE NO LIABILITIES FOR UNCERTAIN TAX POSITIONS REQUIRED TO BE RECORDED. THE FRICK BELIEVES THAT IT IS NO LONGER SUBJECT TO EXAMINATION OF ITS TAX RETURNS FOR YEARS BEFORE 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 264,822. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF SALES 264,822. X X X X X X 1 L ANDERSON CONSULTING LLC 282 MAIN STREET PITTSBURGH PA 15201 GRANT WRITING - NEW RACP & ARAD GRANTS 0 0 16525 -16525 16525 -16525 PA PART I, LINE 2B, COLUMN (IV) THE GROSS RECEIPTS FROM THE GRANT WRITING ACTIVITIES IS YET TO BE DETERMINED. X X X X 0 0 0 0 0 0 0 0 0 ELIZABETH BARKER EXECUTIVE DIRECTOR 273557 0 0 0 945 0 17271 0 13267 0 305040 0 0 0 ROBERT HENNINGER DIRECTOR OF OPERATIONS 94220 0 20000 0 904 0 7628 0 39924 0 162676 0 0 0 X 199 35660 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER SHOWN IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS FOR EACH TYPE OF PROPERTY FOR THE YEAR ENDED MARCH 31, 2024. FORM 990 PART III LINE 1 THE FRICK PITTSBURGH IS THE STEWARD OF COLLECTIONS OF FINE AND DECORATIVE ARTS, VEHICLES, HISTORIC OBJECTS, AND BUILDINGS LEFT AS A LEGACY TO THE PEOPLE OF PITTSBURGH BY HELEN CLAY FRICK, DAUGHTER OF INDUSTRIALIST AND ART COLLECTOR HENRY CLAY FRICK. IN FY24 (APRIL 2023-MARCH 2024), IN SUPPORT OF OUR MISSION TO FURTHER THE VISION OF HELEN CLAY FRICK, OUR 10-ACRE GARDEN CAMPUS HOSTED AN EXTENSIVE ROSTER OF EXHIBITIONS, PROGRAMS, AND EVENTS SPANNING ART, HISTORY, AND NATURE TO THE INSPIRATION AND DELIGHT OF OUR VISITORS. IN FY24, THE FRICK HAS: -WELCOMED 103,000 VISITORS -SHARED THREE DIVERSE EXHIBITIONS WITH 55,000 GUESTS -PRESENTED TWO OUTDOOR ART INSTALLATIONS -CELEBRATED SUMMER FRIDAYS AND FRICK WINTERFEST WITH 18,000 NEIGHBORS -GROWN FAMILY MEMBERSHIP BY 14% (IN PHASE 1 OF 3 OF THE ONGOING CAMPAIGN) -INCREASED MEMBER CONTRIBUTIONS BY $100,000 -COMPLETED THE BRAND STRATEGY RESEARCH PROJECT -BEGUN IMPLEMENTING MARKETING STRATEGIES FOR AUDIENCE GROWTH -WELCOMED MORE THAN 3,000 SCHOOLCHILDREN IN CLASS VISITS -CONTINUED AFTERSCHOOL AND SUMMER CAMP PARTNERSHIPS WITH VOICES AGAINST VIOLENCE AND THE OASIS PROJECT -WON A PA MUSEUMS INNOVATION AWARD FOR THE NEW TOUR OF CLAYTON -HOSTED A CHANGEMAKERS INTENSIVE SEMINAR RELATED TO OUR DEAI LEARNING INITIATIVES -FORMED A WORKING GROUP TO EXPAND OUR LAND AND LABOR ACKNOWLEDGEMENT -COMPLETED CLAYTON CHIMNEY RESTORATION -COMPLETED CAR & CARRIAGE MUSEUM ROOF REPLACEMENT -ENGAGED PRESERVATION ARCHITECTS -COMPLETED EXHAUSTIVE ANALYSIS OF CLAYTON EXTERIOR -APPLIED FOR NATIONAL HISTORIC DISTRICT STATUS -HIRED CONSULTANT TO GUIDE DATA SYSTEMS INTEGRATION PROJECT -CORRECTED CLIMATE INCONSISTENCIES IN FRICK ART MUSEUM GALLERIES -ADDED ADA ALL-GENDERS FAMILY RESTROOM AND AUTOMATIC DOOR OPENER TO FRICK ART MUSEUM -OPENED SCOTT FAMILY INFANT CARE ROOM IN GRABLE VISITOR CENTER -INTRODUCED "POP UP" FARM-TO-TABLE DINNERS, SIP-AND-MAKE ADULT ART WORKSHOPS FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL AND MAY EXERCISE, DURING INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, ALL OF THE POWERS OF THE BOARD OF TRUSTEES EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE POWER TO AMEND OR REPEAL THESE BYLAWS OR TO ADOPT NEW BYLAWS; TO FILL VACANCIES IN, CHANGE THE NUMBER OF, OR REMOVE MEMBERS OF THE BOARD OF TRUSTEES; OR TO DISSOLVE, REMOVE MEMBERS OR CHANGE THE NUMBER OF, OR FILL VACANCIES IN, THE EXECUTIVE COMMITTEE; OR TO AMEND OR REPEAL ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS TERMS SHALL NOT BE AMENDABLE OR REPEALABLE. ANY ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE RATIFIED BY THE BOARD OF TRUSTEES AT ITS MEETING NEXT FOLLOWING THE ACTION. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING TRUSTEES ARE LINEAL DESCENDANTS OF HENRY CLAY FRICK AND THEREFORE STAND IN A FAMILIAL RELATIONSHIP WITH ONE ANOTHER: ALICE BURDEN, TRUSTEE; EDWARD H. DANE, TRUSTEE; WHITNEY S. MORGAN, TRUSTEE; NATALIE DELLA ROSA, TRUSTEE; SCOTT SYMINGTON, TRUSTEE; ISABEL TRAFTON, TRUSTEE. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990, 990-T AND REQUIRED SCHEDULES ARE REVIEWED BY THE FRICK ART & HISTORICAL CENTER, INC.'S INTERNAL MANAGEMENT AS WELL AS THE AUDIT COMMITTEE. UPON COMPLETION OF THIS REVIEW, A COMPLETE COPY IS PROVIDED TO THE BOARD OF TRUSTEES IN ADVANCE OF FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, OFFICERS, DIRECTORS AND KEY EMPLOYEES RECEIVE A COPY OF THE FRICK ART & HISTORICAL CENTER, INC.'S CONFLICT OF INTEREST POLICY QUESTIONNAIRE AND DISCLOSURE FORM FOR COMPLETION. THE FORM INCLUDES REQUIREMENTS TO DISCLOSE POTENTIAL CONFLICTS THAT EXIST AT THE DATE OF COMPLETION AS WELL AS THE OBLIGATION BY THE INDIVIDUAL TO INFORM THE ORGANIZATION OF ANY POTENTIAL CONFLICTS THAT MAY ARISE IN THE FUTURE. THE COMPLETED AND SIGNED FORMS ARE REVIEWED BY THE FINANCE DEPARTMENT. ANY ITEMS OF NOTE ARE CALLED TO THE ATTENTION OF THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15A COMPARABILITY DATA REGARDING THE EXECUTIVE DIRECTOR'S COMPENSATION PACKAGE IS REVIEWED, AND THE EMPLOYEE'S COMPENSATION IS APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD, ALL OF WHOSE MEMBERS ARE INDEPENDENT OF ANY CONFLICT. COMPENSATION IS DOCUMENTED IN THE BOARD MINUTES AND A WRITTEN EMPLOYMENT CONTRACT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE, IN ACCORDANCE WITH STATE LAW, BY CONTACTING THE PA ATTORNEY GENERAL'S OFFICE. FINANCIAL STATEMENTS ARE PUBLISHED IN THE FRICK'S ANNUAL REPORT AND AVAILABLE TO THE PUBLIC THROUGH THE PITTSBURGH GIVES WEBSITE. GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE ALSO ALL AVAILABLE BY REQUEST AT THE FRICK'S OFFICE. FORM 990, PART VII, EMERITUS TRUSTEES: THE FOLLOWING INDIVIDUALS SERVE AS EMERITUS TRUSTEES OF THE FRICK ART & HISTORICAL CENTER, INC. WITH NO VOTING RIGHTS: DAVID A. BROWNLEE, CHARLES BURKE, DAVID BURSTIN, DANFORTH P. FALES, THOMAS J. GILLESPIE, JR., CAROLYN B. REED, NANCY WASHINGTON, BETSY H. WATKINS. FORM 990, PART X, LINE 1 THE CASH BALANCE AT YEAR END IS REPORTED AS A NEGATIVE AMOUNT DUE TO A TIMING DIFFERENCE. ENDOWMENT FUNDS WERE TRANSFERRED INTO THE ACCOUNT ON THE FIRST DAY OF THE NEW FISCAL YEAR, APRIL 1, 2024. AT NO TIME WERE THE CASH ACCOUNTS OVERDRAWN. FORM 990, PART XI, QUESTION 2C, OVERSIGHT OF FINANCIAL STATEMENT AUDIT: THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.