Albuquerque Museum Foundation Inc.

“Form 990 was reviewed and approved by the finance committee of the board and the full board is provided with a copy prior to filing with the irs.”

“The conflict of interest policy is completed annually by employees and members of the board of directors. A list is compiled with potential conflicts and distributed to key personnel and officers of the board.”

“The executive committe of the board of directors determines the salary of the exective director. The compensation committee reviews the performance of the executive director and establishes any salary adjustmnets based on performance, market, cost of living and other factors. Market analysis is performed approximately every five years by the compensation committee.”

“Public inspection of the foundation's governing documents, conflict of interest policy, and financial statements will be provided upon written request to the executive director or finance manager. Governing documents, forms 990 and form 1023 are also available at the new mexico attorney general charitable organization registration online system (coros) at https://secure.nmag.gov/charitysearch/.”

“Mission statement, continued (full statement): albuquerque museum foundation's mission is to provide funding, volunteer support and some administrative underwriting in support of the albuquerque museum, a municipally run and operated museum of art and history. As the primary provider of educational funding, amf operates the magic bus program which provides transportation, curriculum, and docent services to the museum and casa san ysidro for approximately 11,300 school children annually. Docent training, certain exhibition underwriting, advertising, acquisitions, museum school (a children's art program), and community programming, including the very popular third thursday program, receive funding from amf. The foundation operates the membership program for the museum, which involves providing membership benefits and services, such as openings, publications, website maintenance and stewardship. In addition, the foundation operates the museum store and subleases and oversees the museum cafe, slate at the museum, as amenities to the museum guests. To assist in providing support for the museum, amf organizes major annual fundraising events, including miniatures & more, an art exhibition and sale, and shaken not stirred. Schedule r, part i, column (b) real property holding, income collection and distribution.”

“Which are supported by foundation funding.”

“Line 27 unrestricted net assets, and line 29, permanently restricted net assets 2014 form 990, column b, and 2015 form 990, column a show balances on line 27, unrestricted net assets, and line 29, permanently restricted net assets, respectively, of 4,026,605 and 9,721,640. Fy2016 financial statements show fy2015 balances of 8,044,473 and 5,814,206, respectively. The differences are due to the following adjustments, as described in the financial statements: note 16: the foundation wrote off promises to give to the museum as obligations of 110,434 were determined by management to be fulfilled prior to june 30, 2015. The effect on the consolidated financial statements was to restate beginning net assets and promise to give to albuquerque museum as of june 30, 2015. Note 17: during fiscal year 2016, it was determined that items previously capitalized as collections were misclassified. The items labeled as collections were art, books and artifacts that do not meet the gaap definition of a collection item and are now reclassified. The previous treatment resulted in the assets being incorrectly classified as permanently restricted. The value of 1,878,491 should have been shown as unrestricted as the restriction was removed in 2011. In addition, there was property also donated in the same estate in the amount of 2,028,942 which was previously shown as permanently restricted net assets. As this property was donated in the same estate, the restriction placed on the property was also removed in 2011. The donated property along with the art, books, and artifacts totaling 3,907,433 has been reclassified to beginning unrestricted net assets as of june 30, 2015.”

“Rental expenses 117,556 special event expenses 261,844 rental expenses -117,556 special event expenses -261,844”