The Toledo Museum of Art

“Board members complete a conflict of interest form every year and the museum tracks responses. The museum has determined that none of the relationship connections are significant.”

“The form 990 is sent to all board members for their review. Enough time is provided to raise questions before filing with the irs.”

“The museum's conflict of interest policy is sent to all board and board committee members annually, with a disclosure form which must be completed and returned to the cfo or director's office. Results are summarized and reviewed with the audit committee. The disclosure form includes situations such as doing business with the museum, financial interest in transactions with the museum, gifts, and personal benefits. Board members who have a conflict shall not vote or use his or her personal influence on the matter.”

“Compensation of the director/ceo of the toledo museum of art is determined annually. In addition to the terms of the director's/ceo's employment agreement, the board, through its chair and the chair of the leadership & governance committee, consider all relevant factors, including but not limited to, each of the board member's evaluations of the director/ceo; the director's/ceo's accomplishment of annual and long term goals; the reputation and impact of the director/ceo in the community, region, art world and otherwise; and compensation of other art museum leaders whose museums are included in the toledo museum of art's distinguished peer group, as well as art museums that are otherwise similar in stature, scope and size. The director/ceo and the people & talent department work together to determine the compensation of all other employees using comparable market data for salaries and benefits. This process was last completed in 2024.”

“All of the above documents are available on request.”

“Based on the information that is available to this organization, none of the officers, board members, board committee members, key employees, highest compensated employees, highest compensated professional or other independent contractors are related to each other through family relationships. In addition, they do not have common ownership of businesses nor employment relationships with each other. These individuals could have professional dealings with each other from time to time in the normal course of business. However, any such business dealings among the specified parties would not impact this organization.”

“Change in value of perpetual and split-interest trust 8,427,409. Ut scholarships -59,000.”

“The process for oversight and selection of an independent accountant have not changed from the prior year.”