2026-08-17T13:08:52-05:00 2025-09-30 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2024-10-01 610444823 JB SPEED ART MUSEUM SPEE 5023685893 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 AIMEE SAPP CHIEF FINANCIAL OFFICER 5023685893 2026-08-12 1 0 STEPHANIE LEW P01080011 8885871719 2024 2025-03-06 01:10:19Z X SPEED ART MUSEUM AIMEE SAPP 2035 SOUTH THIRD STREET LOUISVILLE KY 40208 63267604 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. 35 35 155 144 472775 296667 11900364 11761913 544556 641741 4031382 11110155 578827 712347 17055129 24226156 0 0 0 0 6676537 6985799 0 0 1278016 10223433 9316365 16899970 16302164 155159 7923992 143462541 151759014 4819687 8729755 138642854 143029259 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 MUSUEM. 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. LEARN MORE ABOUT THE SPEED'S COMMITMENT TO DIVERSITY, EQUITY, ACCESSIBILITY, AND INCLUSION. 0 0 6352529 591651 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. 4100404 50090 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 OUTREACH PROGRAMS ENGAGE UNDERSERVED POPULATIONS AND OFTEN PARTNER WITH BOTH ARTS AND NON-ARTS ORGANIZATIONS TO REACH ALL LEVELS OF THE COMMUNITY. 1595095 75913 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. 12048028 1 1 0 1 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 0 0 0 0 0 0 0 0 1 127 0 1 155 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 35 35 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 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 1.00 0.00 X 0 0 0 DEANA PARADIS TRUSTEE, TREASURER 1.00 0.00 X X 0 0 0 ERNIE TACOGUE TRUSTEE 1.00 0.00 X 0 0 0 GILL HOLLAND TRUSTEE 1.00 0.00 X 0 0 0 J TANNER WATKINS TRUSTEE 1.00 0.00 X 0 0 0 JIM ALLEN TRUSTEE 1.00 0.00 X 0 0 0 JOHN CROCKETT TRUSTEE, CHAIR 1.00 0.00 X X 0 0 0 KAVEH ZAMANIAN TRUSTEE 1.00 0.00 X 0 0 0 LOPA MEHROTRA TRUSTEE, IMMEDIATE PAST CHAIR 1.00 0.00 X 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 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 CHRISTEN BOONE TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 BRENT BRUNER TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 ALEX CAMPBELL TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 KALI HAYES TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 TIM LUCAS TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 JENNIFER A MOORE TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 MARY HELEN MYLES TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 DONNA MURRAY-BROWN TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 WOO SPEED MCNAUGHTON TRUSTEE (FROM 10/24) 1.00 0.00 X 0 0 0 CATHERINE SURRATT CHIEF OPERATING OFFICER 40.00 0.00 X 153632 0 8012 RAPHAELA PLATOW EXECUTIVE DIRECTOR (TO 08/25) 40.00 0.00 X 300998 0 14742 AIMEE SAPP CFO 40.00 0.00 X 0 0 0 STACY GORDON-FUNK CHIEF OF PHILANTHROPY 40.00 0.00 X 167919 0 8082 ERIKA HOLMQUIST-WALL CHIEF CURATOR 40.00 0.00 X 138934 0 7254 761483 0 38090 4 0 1 0 BOSSE CONSTRUCTION INC 2116 PLANTSIDE DRIVE LOUISVILLE KY 40299 CONSTRUCTION 6152081 MCCORMICK CONSTRUCTION & DEVELOPMENT IN 1209 CARDINAL DRIVE LOUISVILLE KY 40213 CONSTRUCTION 328920 MARIGOLD CATERING CO 3815 ROCK BAY DRIVE LOUISVILLE KY 40245 CATERING 312987 REED HILDERBRAND LLC 130 BISHOP ALLEN DRIVE CAMBRIDGE MA 02139 ARCHITECT 299421 WALKER MECHANICAL CONTRACTORS INC PO BOX 35218 LOUISVILLE KY 40232 MECHANICAL REPAIR/MAINTENANCE 297769 14 930685 10831228 47145 11761913 MEMBERSHIPS 900099 299448 299448 ADMISSIONS 900099 292203 292203 EDUCATION PROGRAMMING 900099 50090 50090 641741 2302757 49020 2253737 502334 293759 208575 208575 208575 47101491 38294093 8807398 8807398 8807398 112253 930685 330820 -218567 -218567 198689 122776 75913 75913 PARKING GARAGE 812930 490364 215180 275184 FILM PROGRAM 900099 156062 156062 646426 24226156 717654 472775 11273814 764248 764248 4889285 3527449 622752 739084 162712 131590 7702 23420 743585 499378 155327 88880 425969 286074 88980 50915 236023 73809 161830 384 76804 76804 59954 32037 27553 364 377927 377927 42523 28558 8883 5082 384524 205474 176718 2332 240919 392 240527 1650840 1576229 74215 396 119088 77040 10871 31177 13757 10788 2377 592 3211573 3086322 109193 16058 153389 152875 448 66 ACCESSIONS 893457 893457 EXHIBITIONS 519438 499180 17661 2597 MEDIA & COMMUNICATIONS 448361 415106 31095 2160 GUEST RELATIONS 174103 171141 2582 380 713685 381129 18427 314129 16302164 12048028 2976120 1278016 3129 3129 1537099 3878389 7229486 8479408 11875 148321 153133 108533 298921 408593 105468460 48194428 53166148 57274032 69617534 71011418 10024099 9711013 1421117 736178 143462541 151759014 3117706 2477017 126030 25641 1575951 6227097 4819687 8729755 X 117705005 124611042 20937849 18418217 138642854 143029259 143462541 151759014 X 7923992 -3619310 81723 X X 0 1 X 1 0 X 8978381 9530287 8884551 11900364 11761913 51055496 8978381 9530287 8884551 11900364 11761913 51055496 3350158 47705338 1989438 1776350 2765193 2074894 2253737 10859612 163236 90754 353935 472775 1080700 273092 659971 706607 734743 431246 2805659 65801467 3546332 0.72500 0.69810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 0 0 1 59954 59954 0 PART II-B, LINE 1: MACCARTHY STRATEGIC SOLUTIONS WAS ENGAGED TO FOCUS ON SECURING STATE FUNDING FOR THE SPEED ART MUSEUM ON AN ANNUAL BASIS. THE CONSULTANT WILL WORK TO RAISE AWARENESS AND PUBLIC SUPPORT OF THE SPEED ART MUSEUM AMONG KEY STATE LEADERS. X X X X 0 80459717 2000 6953787 3814474 83601030 70766157 82000 12793933 3182373 80459717 65686236 182000 6787113 1889192 70766157 80941584 342000 -11674233 3923115 65686236 69362301 102000 14133325 2656042 80941584 0.89920 0.10080 1 0 1400 1400 75443205 44988335 30454870 2943961 2345935 598026 27079894 860158 26219736 57274032 FUNDS HELD IN TRUST BY OTHERS 1245067 F HEDGE FUNDS 2888457 F LIMITED PARTNERSHIPS 5228877 F REAL ESTATE FUNDS 348612 F 9711013 X 21048717 -3619310 111570 81723 -3426017 24474734 377927 -626505 -248578 24226156 16662312 111570 626505 738075 15924237 377927 377927 16302164 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, 2025 AND 2024, THE MUSEUM RECEIVED GIFTS OF ARTWORK IN THE AMOUNT OF $1,313,185 AND $4,275,425, RESPECTIVELY, AND PURCHASED ARTWORK IN THE AMOUNT OF $915,858 AND $1,037,785, 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 81,723. PART XI, LINE 4B - OTHER ADJUSTMENTS: OTHER EXPENSES NETTED WITH REVENUES ON FINANCIAL STATEMENTS 120,850. FUNDRAISING EXPENSES -330,820. COST OF GOODS SOLD -122,776. FACILITY RENTAL EXPENSE -293,759. PART XII, LINE 2D - OTHER ADJUSTMENTS: OTHER EXPENSES NETTED WITH REVENUES ON FINANCIAL STATEMENTS -120,850. FUNDRAISING EXPENSES 330,820. COST OF GOODS SOLD 122,776. FACILITY RENTAL EXPENSE 293,759. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENT INVESTMENT 10117063 0 0 0 0 0 0 10117063 0 10117063 1 0 0 1 0 0 SPEED BALL 812900 794900 18000 189134 17493 44198 ART OF BOURBON 230038 135785 94253 38260 41735 1042938 930685 112253 227394 17493 85933 330820 -218567 X X X X 0 0 0 0 0 0 0 1 0 RAPHAELA PLATOW EXECUTIVE DIRECTOR (TO 08/25) 280098 0 20000 0 900 0 14742 0 0 0 315740 0 0 0 STACY GORDON-FUNK CHIEF OF PHILANTHROPY 167019 0 0 0 900 0 8082 0 0 0 176001 0 0 0 CATHERINE SURRATT CHIEF OPERATING OFFICER 152732 0 0 0 900 0 8012 0 0 0 161644 0 0 0 PART I, LINE 7 THE EXECUTIVE DIRECTOR WAS PAID A BONUS. X 1 970 FMV X AUCTION ITEMS 10 41905 FMV X COMMUNITY DAY GIVEAWAY ITEMS 2 1150 FMV X GIFT CARDS 1 500 FMV 0 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, 2025, THE MUSEUM RECEIVED GIFTS OF ARTWORK IN THE AMOUNT OF $1,313,185. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE 990 AND APPROVES IT FOR SUBMISSION. THE CHIEF FINANCIAL OFFICER SIGNS OFF ONCE APPROVED. 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 81,723. 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. SCHEDULE B SCHEDULE B INCLUDES A TOTAL CONTRIBUTION OF $910,000 REPORTED ON LINE 2 FOR WHICH DONOR-IDENTIFYING INFORMATION IS NOT DISCLOSED. SUBSEQUENT TO THE ISSUANCE AND DATE OF THE FY25 AUDITED FINANCIAL STATEMENTS, BUT PRIOR TO THE COMPLETION AND FILING OF THIS FORM 990, THE DONOR WITHDREW THE RELATED PLEDGE COMMITMENT. AS A RESULT, THE PLEDGE ADJUSTMENT WILL BE REFLECTED IN THE FY26 AUDITED FINANCIAL STATEMENTS AND CORRESPONDING FY26 FORM 990 RECONCILIATION.