2025-04-04T15:02:16-05:00 2024-06-30 161131146 Bonadio & Co LLP 2711 Centerville Road Suite 100 Wilmington DE 19808 990 2023-07-01 516020908 Brandywine Conservancy & Museum of Art BRAN 6103882700 PO Box 141 Chadds Ford PA 193170141 Virginia A Logan Executive Director & CEO 6103882700 2025-04-02 1 0 Peter Kennedy P00571422 3026566632 2025-04-02 2023 2025-03-06 01:10:19Z Virginia A Logan PO Box 141 Chadds Ford PA 193170141 51449052 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. 27 27 176 348 0 0 13956454 17680729 1355329 1335619 2119896 2514674 496064 516397 17927743 22047419 0 0 0 0 7685233 7938888 0 0 1370011 7107348 6899271 14792581 14838159 3135162 7209260 170520762 188349394 6747940 6522592 163772822 181826802 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 6714470 1796251 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. 4381191 301392 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 514 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. 11095661 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 0 1 1 0 0 0 1 1 1 0 0 1 142 0 1 176 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 X 27 27 1 0 0 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 Virginia A Logan Executive Director & Assis 40.00 2.00 X 343337 0 50218 Thomas Padon Museum Director 40.00 X 226626 0 42956 Karl Malkin CFO 40.00 X 177138 0 52730 Robert Rudd Chief Development Officer 40.00 X 180247 0 19011 Suzanne Regnier Development Director 40.00 X 139345 0 8457 Wade Abnett Facilities Director 40.00 X 127128 0 7701 Willliam Coleman Wyeth Cur and Dir Wyeth St Ctr 40.00 X 110048 0 46063 Cuyler H Walker Chairman 10.00 2.00 X X 0 0 0 Mrs Michael Matz Vice-Chair & Chair of Museum 1.00 X X 0 0 0 Gregory F Fields Vice-Chair, Treasurer, & C 1.00 X X 0 0 0 David Harrington Assistant Treasurer & Chai 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 Com 1.00 2.00 X 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 H Duprey Trustee 1.00 X 0 0 0 Charles Elson Trustee 1.00 X 0 0 0 Terence Farrell Trustee 1.00 X 0 0 0 R Thorpe Moeckel Trustee 1.00 X 0 0 0 Rodman W Moorehead III Trustee 1.00 X 0 0 0 Anne Moran 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 L Christopher Ross Trustee 1.00 X 0 0 0 David W Stratton Trustee 1.00 X 0 0 0 Morris W Stroud II Trustee 1.00 X 0 0 0 Joseph P Watkins 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 1303869 0 227136 12 0 1 0 Whiting-Turner Contracting Company PO Box 17596 Baltimore MD 21297 Construction 2147552 Schwartz Silver Architects Inc 75 Kneeland Street Boston MA 02111 Architect 1387402 Tevebaugh Associates Inc 2 Mill Road Suite 210 Wilmington DE 19806 Architect 546542 Aegis Property Group 325 Chestnut St Suite 719 Philadelphia PA 19106 Construction Project Manager 438928 SC&A Construction Inc 3411 Silverside Rd Shipley Buildin Wilmington DE 19810 Construction 430057 12 453454 568704 2190598 11245591 3222382 298986 17680729 Admission to Museum 900099 999069 999069 Conservancy Program 900099 176592 176592 Penguin Court Mgmt Fees 900099 124800 124800 Other Program Revenue 900099 35158 35158 1335619 3008220 3008220 122530 0 122530 122530 122530 27586826 28080372 -493546 -493546 -493546 508655 568704 754282 -245627 -245627 1206473 566979 639494 639494 22047419 2097643 0 2269047 594414 594414 6056049 4669981 497241 888827 267451 204215 22060 41176 553581 429318 49098 75165 467393 338823 62801 65769 37656 27966 9690 63324 63324 205452 205452 644183 507141 131373 5669 289046 76660 5245 207141 111115 73182 13688 24245 230163 19346 187259 23558 629278 619200 4588 5490 84251 73124 5800 5327 67508 35715 31793 1491876 1190219 301657 367332 348118 5879 13335 Education & Public Prog 1002307 1002262 4 41 Repairs and Maintenance 523435 511918 549 10968 Collection Acquisition 427450 427450 Property Damage, Net 309483 309483 415412 231540 180572 3300 14838159 11095661 2372487 1370011 8148197 9909901 510346 509573 1015923 3166758 2155714 1120245 220941 196292 418015 653352 73236540 20992792 45529405 52243748 93084679 103862138 14370194 11174763 5067348 5512624 170520762 188349394 2321924 2440480 470749 567802 2805622 2314905 1149645 1199405 6747940 6522592 X 53966397 67298092 109806425 114528710 163772822 181826802 170520762 188349394 X 7209260 10422110 422610 X X 0 1 X 1 1 1 X 4741748 16712334 17604874 13956454 17680729 70696139 4741748 16712334 17604874 13956454 17680729 70696139 13190804 57505335 1920541 2679855 3581387 3066433 3130750 14378966 85075105 9574467 0.67590 0.65550 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X X 514 38883.00 18 0 2 2 1 5520.00 235626 X X X X 0 112513641 482783 12533418 4783213 205452 120541177 108298214 95200 9183521 4837301 225993 112513641 125956250 552910 -13660087 4317206 233653 108298214 101651400 654292 29399379 5475035 273786 125956250 104243830 1002454 1848367 5102314 340937 101651400 0.11570 0.49240 0.39190 0 0 22906844 22906844 36981491 19816828 17164663 3317198 1175964 2141234 10031007 10031007 52243748 Hedge funds and private equity 11166415 F Non-endowment investments 8348 C 11174763 Other non-current liabilities 935998 Due to Penguin Court 263407 1199405 23819647 -232 4007790 4007558 19812089 2235330 2235330 22047419 13715436 0 13715436 205452 917271 1122723 14838159 Part II, Line 3: - One (1) conservation easement was amended to modify easement language to permit subdivided parcels to be merged with adjacent lands so long as the adjacent lands had a residence or the right to construct a residence. An easement provision was added to ensure the easement was governed by the Pennsylvania's Conservation and Preservation Easements Act of 2001 (P.L. 390, No. 29). A Coal Rights Notice provision was added. In addition, impervious coverage was allocated among the subdivided parcels that were subject to the original conservation easement. - One (1) conservation easement was amended to extinguish remaining residential rights, extinguish subdivision rights, and further limit impervious ground surface coverage. A provision was added to ensure that the easement would be subject to the Pennsylvania Conservation and Preservation Easements Act of 2001 (P.L. 390, No. 29). 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 4,007,790. Part XI, Line 4b - Other Adjustments: Realized loss -493,546. Investment Income 2,604,623. Employee Retention Tax Credit 61,814. Facilities reserve contributions 62,439. Part XII, Line 4b - Other Adjustments: Easement & Collections Purchases 427,450. Interest expense 38,639. Other non-operating expenses 141,699. Property damage, net 309,483. Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, 0 0 Investments 641527 Sub-Saharan Africa - Angola, Benin, Botswana, Burkina Faso, 0 0 Investments 1248778 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 0 0 Investments 509805 0 0 0 0 0 0 2400110 0 2400110 0 0 0 1 1 0 Radnor Races 669063 568704 100359 561178 Critters 124731 124731 56668 5 283565 283565 136436 1077359 568704 508655 754282 754282 -245627 X X X 0 0 0 0 0 0 0 0 0 Virginia A Logan Executive Director & Assis 343337 0 0 0 0 0 40354 0 9864 0 393555 0 0 0 Thomas Padon Museum Director 226626 0 0 0 0 0 33152 0 9804 0 269582 0 0 0 Karl Malkin CFO 177138 0 0 0 0 0 32992 0 19738 0 229868 0 0 0 Robert Rudd Chief Development Officer 180247 0 0 0 0 0 9090 0 9921 0 199258 0 0 0 Willliam Coleman Wyeth Cur and Dir Wyeth St Ctr 110048 0 0 0 0 0 21150 0 24913 0 156111 0 0 0 X 61 0 N/A X 5 0 N/A X 0 N/A X 22 298986 FMV X 2 0 N/A 6 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 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 445,276. Change in Charitable Gift Annuity -22,666. 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 0 0 Penguin Court L 124800 FMV Penguin Court O 337644 FMV Penguin Court Q 234018 FMV