2025-08-15T13:34:10-05:00 2024-09-30 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2023-10-01 610444823 SPEED ART MUSEUM SPEE 5026342700 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 AIMEE SAPP CFO 5026342700 2025-08-15 1 1 STEPHANIE LEW P01080011 8885871719 2023 2025-03-06 01:10:19Z RAPHAELA PLATOW 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 41122251 0 X WWW.SPEEDMUSEUM.ORG X 1933 KY AT THE SPEED ART MUSEUM, WE INVITE EVERYONE TO CELEBRATE ART FOREVER. WHETHER YOU'RE AN ART AFICIONADO OR DON'T KNOW A DALI FROM A DEGAS, YOU CAN FIND FRESH INSPIRATION AND MEANING AT THE SPEED ART MUSEUM. WITH MODERN ARCHITECTURE, EXPANDED PROGRAMMING, INTERACTIVE EXHIBITS AND INVITING OUTDOOR SPACES, THE SPEED OFFERS COUNTLESS OPPORTUNITIES FOR EVERYONE TO CREATE THEIR OWN CONNECTIONS AND EXPERIENCE ART AT THEIR OWN SPEED. AT THE SPEED, WE'RE WORKING TO MAKE THE MUSEUM A SAFE AND WELCOMING PLACE FOR EVERYONE IN OUR COMMUNITY. 29 29 111 190 348155 238676 8884551 11900364 549276 544556 2594417 4031382 1028433 578827 13056677 17055129 0 0 0 0 6272156 6676537 0 0 1329214 9257368 10223433 15529524 16899970 -2472847 155159 131370539 143462541 2537490 4819687 128833049 138642854 X AT THE SPEED ART MUSEUM, WE INVITE EVERYONE TO CELEBRATE ART FOREVER. WHETHER YOU'RE AN ART AFICIONADO OR DON'T KNOW A DALI FROM A DEGAS, YOU CAN FIND FRESH INSPIRATION AND MEANING AT THE SPEED ART MUSEUM. WITH MODERN ARCHITECTURE, EXPANDED PROGRAMMING, INTERACTIVE EXHIBITS AND INVITING OUTDOOR SPACES, THE SPEED OFFERS COUNTLESS OPPORTUNITIES FOR EVERYONE TO CREATE THEIR OWN CONNECTIONS AND EXPERIENCE ART AT THEIR OWN SPEED. AT THE SPEED, WE'RE WORKING TO MAKE THE MUSEUM A SAFE AND WELCOMING PLACE FOR EVERYONE IN OUR COMMUNITY. 0 0 6805220 506282 CURATORIAL INITIATIVES INCLUDE ROTATING EXHIBITIONS, CARE FOR THE PERMANENT COLLECTION, AND SCHOLARLY PUBLICATIONS. THE CURATORIAL STAFF STEWARDS A COLLECTION OF 13,000 OBJECTS SPANNING 6,000 YEARS OF HUMAN HISTORY FROM ANCIENT TO CONTEMPORARY ARTWORKS. CURATORS PRODUCE AMBITIOUS EXHIBITIONS, BRINGING ARTWORK FROM AROUND THE WORLD TO THE LOUISVILLE COMMUNITY AND PROGRAM EVENTS TO ENHANCE EXHIBITION CONTENT. 4221418 38274 EDUCATION AND OUTREACH PROGRAMS FOSTER DYNAMIC, MULTI-SENSORIAL EXPERIENCES FOR VISITORS OF ALL AGES AND BACKGROUNDS. EDUCATION PROGRAMS FOR YOUTH AND FAMILIES PROVIDE OPPORTUNITIES FOR CHILDREN TO GROW UP WITH THE SPEED. OFFERINGS INCLUDE HANDS-ON WORKSHOPS, INTERACTIVE LESSONS, AND GUIDED TOURS OF THE COLLECTION. OUTREACH PROGRAMS ENGAGE UNDERSERVED POPULATIONS AND OFTEN PARTNER WITH BOTH ARTS AND NON-ARTS ORGANIZATIONS TO REACH ALL LEVELS OF THE COMMUNITY. 1411021 62554 GUARDIANSHIP AND MAINTENANCE OF THE MUSEUM AND ITS ART COLLECTION. THE SPEED ART MUSEUM UTILIZES SECURITY PERSONNEL AND TECHNOLOGY TO SECURE THE COLLECTION AS WELL AS THE MUSEUM STAFF AND VISITORS. STATE-OF-THE-ART TEMPERATURE AND HUMIDITY CONTROL SYSTEMS PROTECT THE COLLECTION FROM ENVIRONMENTAL DAMAGE. 12437659 1 1 0 0 0 0 0 1 0 1 1 1 0 0 0 1 1 0 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 0 0 0 0 1 137 0 1 111 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 KY X X AIMEE SAPP 5026342700 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 ALAN KAMEI TRUSTEE 1.00 0.00 X 0 0 0 ALLAN LATTS TRUSTEE 1.00 0.00 X 0 0 0 ANGELA CURRY TRUSTEE 1.00 0.00 X 0 0 0 ANN GEORGEHEAD TRUSTEE 1.00 0.00 X 0 0 0 ANN WELLS TRUSTEE 1.00 0.00 X 0 0 0 ANNA TATMAN TRUSTEE 1.00 0.00 X 0 0 0 BRETT HALE TRUSTEE 1.00 0.00 X 0 0 0 BROOKES POPE TRUSTEE 1.00 0.00 X 0 0 0 BRUCE MERRICK TRUSTEE 1.00 0.00 X 0 0 0 CAMPBELL BROWN TRUSTEE 1.00 0.00 X 0 0 0 CAROL FARMER TRUSTEE 1.00 0.00 X 0 0 0 CATHY SMITH SHANNON TRUSTEE (FROM 10/23) 1.00 0.00 X 0 0 0 DEANA PARADIS TRUSTEE, TREASURER 1.00 0.00 X X 0 0 0 ERNIE TACOGUE TRUSTEE (FROM 10/23) 1.00 0.00 X 0 0 0 GILL HOLLAND TRUSTEE (FROM 10/23) 1.00 0.00 X 0 0 0 J TANNER WATKINS TRUSTEE 1.00 0.00 X 0 0 0 JIM ALLEN TRUSTEE (FROM 10/23) 1.00 0.00 X 0 0 0 JOHN CROCKETT TRUSTEE 1.00 0.00 X 0 0 0 KAVEH ZAMANIAN TRUSTEE 1.00 0.00 X 0 0 0 LOPA MEHROTRA TRUSTEE, CHAIR 1.00 0.00 X X 0 0 0 MARTHA SLAUGHTER TRUSTEE 1.00 0.00 X 0 0 0 RON MURPHY TRUSTEE 1.00 0.00 X 0 0 0 SEEMA SHETH TRUSTEE 1.00 0.00 X 0 0 0 SPENCER HARPER III TRUSTEE (FROM 10/23) 1.00 0.00 X 0 0 0 STACEY WADE TRUSTEE 1.00 0.00 X 0 0 0 SUSAN DABNEY LAVIN TRUSTEE 1.00 0.00 X 0 0 0 TAWANDA CHITAPA TRUSTEE, SECRETARY 1.00 0.00 X X 0 0 0 TODD LOWE TRUSTEE 1.00 0.00 X 0 0 0 TOM O'GRADY TRUSTEE 1.00 0.00 X 0 0 0 CATHERINE SURRATT CHIEF OPERATING OFFICER (FROM 10/23) 40.00 0.00 X 141789 0 1929 RAPHAELA PLATOW EXECUTIVE DIRECTOR 40.00 0.00 X 278900 0 13900 STACY GORDON-FUNK CHIEF OF PHILANTHROPY (FROM 10/23) 40.00 0.00 X 158788 0 0 DAVID DINKEL DIRECTOR OF IT 40.00 0.00 X 144808 0 4720 ERIKA HOLMQUIST-WALL CHIEF CURATOR 40.00 0.00 X 140600 0 7000 864885 0 27549 5 0 1 0 BOSSE CONSTRUCTION 2116 PLANTSIDE DRIVE LOUISVILLE KY 40299 CONSTRUCTION 5541758 REED HILDERBRAND LLC 130 BISHOP ALLEN DRIVE CAMBRIDGE MA 02139 ARCHITECT 310328 MCCORMICK CONSTRUCTION & DEVELOPMENT IN 1209 CARDINAL DRIVE LOUISVILLE KY 40213 CONSTRUCTION 306483 WALKER MECHANICAL CONTRACTORS INC PO BOX 35218 LOUISVILLE KY 40232 FACILITY MAINTENANCE 296658 MARIGOLD CATERING CO 3815 ROCK BAY DRIVE LOUISVILLE KY 40245 CATERING 237262 18 781189 11119175 441800 11900364 ADMISSIONS 900099 261991 261991 MEMBERSHIPS 900099 244291 244291 EDUCATION PROGRAMMING 900099 38274 38274 544556 2086338 11444 2074894 416858 255901 160957 160957 160957 25192146 23247102 1945044 1945044 1945044 199557 781189 479965 -280408 -280408 146708 84154 62554 62554 PARKING GARAGE 900099 496085 175754 320331 FILM PROGRAM 900099 139639 139639 635724 17055129 607110 348155 4199500 671038 671038 4837508 3337644 792961 706903 166009 129088 14004 22917 610887 405850 132987 72050 391095 259828 85140 46127 26981 5995 20955 31 86767 86767 371052 371052 37153 24683 8088 4382 275542 145898 124239 5405 249237 5410 243827 1592786 1406130 186017 639 186299 93585 17428 75286 60607 37589 6204 16814 3114235 2992780 105884 15571 143891 143491 349 51 ACCESSIONS 1164266 1164266 MEDIA & COMMUNICATIONS 848312 715226 129369 3717 EXHIBITIONS 767102 737185 26081 3836 GUEST RELATIONS 197708 192783 4326 599 1101495 640228 106381 354886 16899970 12437659 3133097 1329214 3216 3129 4935143 1537099 4502099 7229486 95526 11875 150884 153133 96814 298921 98149003 44982855 48143073 53166148 59762074 69617534 10608548 10024099 3073162 1421117 131370539 143462541 2437101 3117706 100389 126030 0 1575951 2537490 4819687 X 107896233 117705005 20936816 20937849 128833049 138642854 131370539 143462541 X 155159 9457194 197452 X X 0 1 X 1 0 X 4594318 8978381 9530287 8884551 11900364 43887901 4594318 8978381 9530287 8884551 11900364 43887901 3720198 40167703 1700701 1989438 1776350 2765193 2074894 10306576 20075 163236 90754 353935 628000 344399 273092 659971 706607 734743 2718812 57541289 3508123 0.69810 0.73520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 70766157 82000 12793933 3182373 80459717 65686236 182000 6787113 1889192 70766157 80941584 342000 -11674233 3923115 65686236 69362301 102000 14133325 2656042 80941584 69945621 3000 2803450 3389770 69362301 0.89531 0.10469 0.00000 1 0 1400 1400 82806611 42091184 40715427 2877401 2085378 792023 12463591 806293 11657298 53166148 FUNDS HELD IN TRUST BY OTHERS 1163344 F HEDGE FUNDS 2612571 F LIMITED PARTNERSHIPS 5865632 F REAL ESTATE FUNDS 382552 F 10024099 X 27079831 9457194 500 197452 9655146 17424685 371052 -740608 -369556 17055129 17270026 500 740608 741108 16528918 371052 371052 16899970 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MOST MUSEUMS, ART OBJECTS ARE NOT INCLUDED IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION. ACCORDINGLY, THE FAIR VALUES OF THE OBJECTS ACQUIRED BY GIFT ARE NOT INCLUDED IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. THE COSTS OF OBJECTS PURCHASED ARE INCLUDED AS EXPENSE IN THE STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023, THE MUSEUM RECEIVED GIFTS OF ARTWORK IN THE AMOUNT OF $4,275,425 AND $5,776,450, RESPECTIVELY, AND PURCHASED ARTWORK IN THE AMOUNT OF $1,037,785 AND $2,335,375, RESPECTIVELY. PART III, LINE 4: THE MUSEUM HAS A SIGNIFICANT COLLECTION OF ART REPRESENTING APPROXIMATELY 13,000 PIECES. THE COLLECTION SPANS 6,000 YEARS AND RANGES FROM ANCIENT EGYPTIAN TO CONTEMPORARY ART. THE MUSEUM HAS DISTINGUISHED COLLECTIONS OF 17TH CENTURY DUTCH AND FLEMISH PAINTINGS; 18TH CENTURY FRENCH ART; RENAISSANCE AND BAROQUE TAPESTRIES; AND SIGNIFICANT HOLDINGS OF CONTEMPORARY PAINTINGS AND SCULPTURES. WORKS BY KENTUCKY ARTISTS, INCLUDING FURNITURE, PAINTINGS, AND DECORATIVE ARTS ARE REPRESENTED IN THE MUSEUM'S COLLECTION. AFRICAN AND NATIVE AMERICAN WORKS ARE ALSO REPRESENTED. PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO SUPPORT ITS OPERATIONS. PART X, LINE 2: THE MUSEUM QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. ACCORDINGLY, NO INCOME TAXES HAVE BEEN PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE MUSEUM RECOGNIZES UNCERTAIN INCOME TAX POSITIONS USING THE "MORE-LIKELY-THAN-NOT" APPROACH AS DEFINED IN THE ASC. NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FUNDS HELD IN TRUST BY OTHERS 197,452. PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER EXPENSES NETTED WITH REVENUES ON FINANCIAL STATEMENTS 79,412. FUNDRAISING EXPENSES -479,965. COST OF GOODS SOLD -84,154. FACILITY RENTAL EXPENSE -255,901. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER EXPENSES NETTED WITH REVENUES ON FINANCIAL STATEMENTS -79,412. FUNDRAISING EXPENSES 479,965. COST OF GOODS SOLD 84,154. FACILITY RENTAL EXPENSE 255,901. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENT INVESTMENT 9667581 0 0 0 0 0 0 9667581 0 9667581 1 0 0 0 0 0 SPEED BALL 637385 636885 500 164180 9775 102243 ART OF BOURBON 343361 144304 199057 32512 2588 168667 980746 781189 199557 196692 12363 270910 479965 -280408 X X X X 0 0 0 0 0 0 0 0 0 RAPHAELA PLATOW EXECUTIVE DIRECTOR 278000 0 0 0 900 0 13900 0 0 0 292800 0 0 0 STACY GORDON-FUNK CHIEF OF PHILANTHROPY (FROM 10/23) 158002 0 0 0 786 0 0 0 0 0 158788 0 0 0 X 32 351750 FMV X AUCTION ITEMS 22 75704 FMV X EVENT SUPPLIES 2 14346 FMV 3 0 1 1 PART I, COLUMN (B): THE AMOUNTS IN COLUMN B REPRESENT THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 32B: THE MUSEUM CONSIGNS PROPERTY TO AUCTION HOUSES FOR PUBLIC SALE. IN ADDITION TO PUBLIC SALE, THE MUSEUM MAY ELECT TO TRANSFER PROPERTY TO OTHER COLLECTING INSTITUTIONS (FILSON AND KENTUCKY HISTORICAL SOCIETY ARE EXAMPLES). PART I, LINE 33: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MOST MUSEUMS, ART OBJECTS ARE NOT INCLUDED IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION. ACCORDINGLY, THE FAIR VALUES OF THE OBJECTS ACQUIRED BY GIFT ARE NOT INCLUDED IN THE STATEMENT OF ACTIVITIES. THE COSTS OF OBJECTS PURCHASED ARE INCLUDED AS EXPENSE IN THE STATEMENT OF ACTIVITIES. FOR THE YEAR ENDED SEPTEMBER 30, 2024, THE MUSEUM RECEIVED GIFTS OF ARTWORK IN THE AMOUNT OF $4,275,425. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES EXAMINES THE FORM 990 BEFORE IT IS FILED. THE BOARD TREASURER REVIEWS AND SIGNS THE DOCUMENT. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DIRECTED AT THE BOARD OF TRUSTEES, BOARD OF GOVERNORS, EMPLOYEES, AND VOLUNTEERS, WHO CAN INFLUENCE THE ACTIONS OF THE SPEED ART MUSEUM. THOSE PERSONS SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL TRANSACTIONS INVOLVED IN THEIR DUTIES, AND THEY SHALL NOT USE THEIR POSITIONS WITH THE SPEED ART MUSEUM OR KNOWLEDGE GAINED THERE FROM FOR THEIR PERSONAL BENEFIT. THE INTERESTS OF THE ORGANIZATION MUST BE THE FIRST PRIORITY IN ALL DECISIONS AND ACTIONS. IF A CONFLICT OF INTEREST EXISTS, IT IS THE RESPONSIBILITY OF THE BOARD OF TRUSTEES, BOARD OF GOVERNORS, EMPLOYEES, AND VOLUNTEERS TO SCRUTINIZE THE TRANSACTIONS AND OUTSIDE BUSINESS INTERESTS AND RELATIONSHIPS FOR POTENTIAL CONFLICTS AND TO IMMEDIATELY MAKE SUCH DISCLOSURES. SIGNED COPIES OF THE FORMS ARE REQUESTED AND FILED ANNUALLY. EACH TRUSTEE, GOVERNOR AND EMPLOYEE SIGNS THAT THEY DID THE FOLLOWING: 1. READ AND UNDERSTOOD THE SPEED ART MUSEUM CONFLICT OF INTEREST POLICY. 2. AT THE PRESENT TIME, ARE NOT AWARE OF ANY CONFLICT OF INTEREST INVOLVING THEIR POSITION. 3. IF AT ANY TIME, A CONFLICT OF INTEREST IS DISCOVERED, THIS SHALL BE REPORTED BASED ON THE POLICY. 4. IF A SITUATION INVOLVING CONFLICT OF INTEREST, THAT PERSON SHALL ABSTAIN FROM PARTICIPATING IN THE DISCUSSION AND VOTE ON THE DECISION IN ORDER TO AVOID EVEN THE APPEARANCE OF CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES EMPLOYED AN OUTSIDE CONSULTING FIRM IN 2021 TO HELP IN THE SEARCH FOR THE NEW DIRECTOR AND DETERMINATION OF COMPENSATION. A COMPARABILITY STUDY WAS PERFORMED USING MARKET DATA FROM RUSSELL REYNOLDS AND OTHER SOURCES, THE SALARY WAS APPROVED BY THE BOARD AND THE DELIBERATION WAS DOCUMENTED IN BOARD MINUTES. THE COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED ANNUALLY BY A COMMITTEE OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FUNDS HELD IN TRUST BY OTHERS 197,452. FORM 990, PART XII 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR. THE FINANCE & AUDIT COMMITTEE OF THE BOARD OF TRUSTEES ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.