Walker Art Center Inc.

“Question 1a Works of art in the Walker's collection are not recognized as assets on the statement of financial position. Purchases of artwork are recognized as decreases in unrestricted net assets in the year in which the items are acquired. If a donor makes a contribution intended to fund the subsequent purchase of artwork, the contribution is recorded as a temporarily restricted net asset. Contributions of works of art are not reflected on the financial statements. Question 4 The Walker has an internationally acclaimed collection of modern and contemporary visual art, which grows each year through new acquisitions and now includes more than 11,000 works. The collection spans a diverse range of media that includes painting, sculpture, film, video, photography and works on paper. These diverse holdings reflect the Walker's unique multidisciplinary offerings in the visual, performing and media arts of our time. They provide a document of the cultural, historical and social issues that have animated the arts of the past half-century.”

“Question 4 Walker's endowment provides an essential source of financial support which enables the organization to carry out its mission of being a catalyst for the creative expression of artists and the active engagement of audiences that examines the questions that shape and inspire us as individuals, cultures and communities. It is the key financial driver for the Walker's artistic excellence and stature in the contemporary arts field, providing resources for programming challenging and innovative work. Part X Question 2 The Walker's accounting policy provides that a tax expense or benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, based on the technical merits. The Walker has no uncertain tax positions resulting in an accrual of tax expense or benefit.”

“752,477 Part VIII Line 6b 369,768 Part VIII Line 8b 1,119,706 Part VIII Line 10b 9 Rounding 1,880,094 Adjustment prior period pledges ----------- 4,122,054”

“752,477 Part VIII Line 6b 369,768 Part VIII Line 8b 1,119,706 Part VIII Line 10b 9 Rounding ------------ 2,241,960”