Final Rahilly.qxp - The Wadsworth Atheneum

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For more than two decades The Amistad Center and the Wadsworth Atheneum have enjoyed a unique institutional partnership. The Amistad Center is an independently incorporated not-for-profit African American cultural institution formed in 1987 to conserve, develop and provide public access to a collection of over 7,000 works of art, artifacts and ephemera. The founders determined that the Greater Hartford community would be well-served by housing The Amistad Center in the Wadsworth Atheneum, where it has resided ever since. Over the years this partnership has provided the opportunity for more broadly based museum visitorship and cross-cultural conversation. The Amistad Center presents 2-3 exhibitions per year in gallery space at the Wadsworth Atheneum and offers a number of culture-based educational programs, some of them in collaboration with the museum. These exhibitions and programs are listed earlier in this report. The Amistad Center’s work is carried out by its Board of Trustees and staff who are listed below. 52 T H E A M I S T A D C E N T E R F O R A R T & C U L T U R E B o a r d o f Tr u s t e e s Officers JoAnn Price, President Gregory Deavens, Vice President at the Wadsworth Atheneum Museum of Art Kevin Washington, Vice President Cynthia Williams, Vice President Edwin S. Shirley, Treasurer Medina K. Jett, Secretary Board of Trustees J. Danford Anthony, Jr. Beverly Arrington Shaun Biggers-Alleyne Eleanor Blake Emilie de Brigard Michele U. Farley Donald Harris Larry Jones Pamela McKoin Denise L. Nappier Ellen Nurse Westley Thompson Joyce C. Willis Lana Woods Honorary Trustees Dr. R. Eileen Baccus Sanford Cloud, Jr. David Driskell Beverly Morgan-Welch John H. Motley Claire M. Pryor Richard Yarde Ex Officio Susan Rottner Susan L. Talbott Kenneth Green Staff Olivia S. White, Executive Director Vivian R. Nabeta, Membership & Special Events Manager Sasha Allen, Intern T H E G O O D W I N M E D A L “Awarded to those who have served the Wadsworth Atheneum with exceptional loyalty and dedication.” at the Wadsworth Atheneum Museum of Art 1983 Genevieve Harlow Goodwin 1985 Eleanor Howland Bunce 1986 United Technologies Corporation 1988 Talcott Stanley 1990 Dorothy Clark Archibald 1991 Joan Joseloff Kohn 1992 Burton G. Tremaine, Jr. 1994 The Women’s Committee of the Wadsworth Atheneum Museum of Art 1996 Nancy B. Krieble 1997 Georgette Auerbach Koopman 2001 Nancy D. Grover 2002 Millard H. Pryor, Jr. 2003 Christopher Larsen 2006 Robert H. Smith, Jr. 2008 Coleman H. Casey 53
F I N A N C I A L R E P O R T the Wadsworth Atheneum Museum of Art Condensed Statement of Financial Position A s s e t s June 30, 2009 June 30, 2008 Cash and Cash Equivalents $1,962,668 $2,0601,445 Accounts receivable, net of allowance 19,860 8,335 Grants receivable 15,160,963 726,699 Other receivables 3,981 411,053 Contributions receivable, net of allowance 593,241 1,230,675 Inventories and other assets 606,368 485,628 Investments, at market 71,042,827 89,619,216 Funds held in trust by others 222,474 691,254 Property and equipment, net depreciation 5,473,798 5,354,667 To t a l A s s e t s $95,086,180 $100,588,972 L i a b i l i t i e s Accounts payable $355,589 $604,668 Accrued expenses and other liabilities 790,763 974,708 Deferred revenue 329,628 285,397 To t a l L i a b i l i t i e s $1,475,980 $1,864,773 N e t A s s e t s Unrestricted $18,049,495 $21,767,242 Board designated — 200,000 Temporarily restricted 44,510,056 45,667,560 Permanently restricted 31,050,649 31,089,397 To t a l N e t A s s e t s $93,610,200 $98,724,199 To t a l L i a b i l i t i e s & N e t A s s e t s $95,086,180 $100,588,972 Condensed Statement of Activities R e v e n u e U n r e s t r i c t e d T e m p o r a r i l y P e r m a n e n t l y Operating Non-Operating Restricted Restricted June 30, 2009 June 30, 2008 Contributions, Grants, Trusts, and Estates $2,522,227 $ 35,584 $16,400,109 $48,111 $19,006,031 $6,533,895 Membership, dues and activities 430,053 15,808 — — 445,861 426,397 Admissions 283,018 — — — 283,018 577,081 Exhibition fees and other 60,384 — — — 60,384 954,147 Proceeds from sale of art objects — 17,180 — — 17,180 — Auxiliary activities 707,270 — — — 707,270 1,010,338 Hartford Times project — — — — — 2,500,000 Total investment return allocated for operations 1,658,589 — — — 1,658,589 1,381,112 Loss on funds held in trust by others — — — (34,781) (34,781) (30,601) Net assets released from restriction 2,088,905 15,582,111 (17,618,938) (52,078) — — To t a l R e v e n u e , G a i n s a n d O t h e r S u p p o r t 7,750,446 15,650,683 (1,218,829) (38,748) 22,143,552 13,352,369 E x p e n s e Collections, Exhibitions, and Programs 2,320,606 38,397 — — 2,359,003 3,496,387 Art Acquisition — 2,874,495 — — 2,874,495 589,648 Administrative and External Affairs 2,301,441 222,199 — — 2,523,640 2,322,877 Auxiliary activities 534,484 — — — 534,484 713,595 Building and Security 2,645,531 — — — 2,645,531 2,673,382 Hartford Times project — 519,339 — — 519,339 4,078,938 Depreciation — 572,428 — — 572,428 542,472 To t a l E x p e n s e 7,802,062 4,226,858 — — 12,028,920 14,417,299 Change in net assets before investment return (51,616) 11,423,825 (1,218,829) (38,748) 10,114,632 (1,064,930) Investment loss from long-term investment — (15,289,956) 61,325 — (15,228,631) (6,305,583) C h a n g e i n N e t A s s e t s (51,616) (3,866,131) (1,157,504) (38,748) (5,113,999) (7,370,513) Board Designated 200,000 (200,000) — — — — Net assets (deficit) at beginning of year (1,773,396) 23,740,638 45,667,560 31,089,397 98,724,199 106,094,712 N e t A s s e t s (deficit) a t E n d o f Ye a r $(1,625,012) $19,674,507 $44,510,056 $31,050,649 $93,610,200 $98,724,199 The condensed statement of financial position and condensed statement of activities are derived from the Wadsworth Atheneum’s financial statements as of June 30, 2009, which have been audited by Kostin, Ruffkess and Company, LLC., independent auditors, whose report expressed an unqualified opinion on those financial statements. A complete copy is available upon request or can be found on the museum’s website: www.wadsworthatheneum.org. 54 55
Page 1 and 2: W A D S W O R T H A T H E N E U M M
Page 3 and 4: Susan L. Talbott, Director and CEO
Page 5 and 6: Pop to the Present: New Questions,
Page 7 and 8: September Musicians: The Kenny Reed
Page 9 and 10: Exoticism in Western Couture, Lynne
Page 11 and 12: T h o m a s C o l e American, 1801-
Page 13 and 14: C l a e s O l d e n b u r g America
Page 15 and 16: M a r t i n P u r y e a r American,
Page 17 and 18: B o a r d o f E l e c t o r s Elect
Page 19 and 20: Herman and Letty Fonteyne Mr. Natha
Page 21 and 22: Table Hosts Duff Ashmead and Eric O
Page 23 and 24: Beverly P. Greenberg Dagmar Gunther
Page 25: 50 E d u c a t i o n D i v i s i o

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