2024-12-16T07:20:24-06:00 2024-06-30 561607661 LOWDERMILK CHURCH & CO LLP 121 NORTH STERLING STREET MORGANTON NC 28655 990 2023-07-01 561144769 HICKORY MUSEUM OF ART INC HICK 8283278576 243 THIRD AVE NE HICKORY NC 28601 PETER MAXWELL TREASURER 8283278576 2024-11-26 1 0 JAMES LOWDERMILK P01394049 8284331226 2023 2024-10-15 13:58:12Z PETER MAXWELL 243 THIRD AVE NE HICKORY NC 28601 1046994 0 X HICKORYART.ORG X 1976 NC EDUCATIONAL: TO INCREASE THE PUBLIC'S POPULAR APPRECIATION OF ALL FORMS OF THE VISUAL ARTS 15 15 16 84 0 0 607773 546404 78073 56621 110235 122943 86066 87584 882147 813552 0 0 0 0 415531 457956 0 0 167722 353774 374180 769305 832136 112842 -18584 4769497 5420224 103038 189778 4666459 5230446 TO BRING PEOPLE TOGETHER AND INSPIRE CREATIVITY THROUGH THE POWER OF ART 0 0 497508 64870 PROMOTION OF ART EXHIBITS, EDUCATION AND PROGRAMSDONATIONS OF FACILITIES (RENT & UTILITIES) FROM SALT BLOCK FOUNDATION (BUILDING MANAGERS) VALUED AT $274,787 497508 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 23 0 1 16 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X X CLARISSA STARNES 8283278576 243 THIRD AVE NE HICKORY NC 28601 PETER MAXWELL TREASURER 9.00 X X 0 0 0 CHRISTY ALMOND TRUSTEE 5.00 X 0 0 0 KIT CANNON TRUSTEE 5.00 X 0 0 0 CAMERON MAUNEY TRUSTEE 5.00 X 0 0 0 ELEANOR HERBERT TRUSTEE 5.00 X 0 0 0 RAISA BOBEN TRUSTEE 5.00 X 0 0 0 DR HARRY TITUS TRUSTEE 5.00 X 0 0 0 COLEMAN GUTSHALL TRUSTEE 5.00 X 0 0 0 CANDI DULA VICE PRESIDENT 9.00 X X 0 0 0 ALLEN FINLEY TRUSTEE 5.00 X 0 0 0 DONNA PROPST TRUSTEE 5.00 X 0 0 0 KIMBERLY WHITLEY TRUSTEE 5.00 X 0 0 0 TIFFANY BRITTIAN PRESIDENT 9.00 X X 0 0 0 ROBIN PARKER TRUSTEE 5.00 X 0 0 0 ANGELA SHERRILL SECRETARY 9.00 X X 0 0 0 CLARISSA STARNES EXECUTIVE DIRECTOR 40.00 X 85000 0 13499 85000 0 13499 0 0 0 0 0 26204 92167 36850 391183 546404 PROGRAM FEES 712110 56621 56621 56621 127437 127437 178000 182494 -4494 -4494 -4494 106450 31609 74841 74841 29796 19339 10457 10457 MISCELLANEOUS 900099 2286 2286 2286 813552 64870 0 202278 X 457956 232091 113227 112638 8146 8146 114378 52875 25972 35531 18601 16836 1765 39973 37513 1230 1230 20824 20824 2 2 6876 6876 12522 8815 3707 SUPPLIES AND EQUIPMENT 40152 26837 12124 1191 PRINTING 36185 34606 -3800 5379 REPAIRS AND MAINTENANCE 16794 15523 1271 CONTRACT LABOR 13735 12873 862 45992 31839 4165 9988 832136 497508 166906 167722 62076 46126 11002 2353 130 605 10269 7575 471117 264938 213056 206179 4472964 5157386 4769497 5420224 31512 38988 71526 150790 103038 189778 X 3184810 3499550 1481649 1730896 4666459 5230446 4769497 5420224 -18584 582571 0 X 0 1 X 1 0 X 514902 749283 668368 607773 546404 3086730 514902 749283 668368 607773 546404 3086730 3086730 141910 142334 123572 166721 305437 879974 1847 1916 9207 421 2286 15677 3982381 347864 0.77510 0.78890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1481649 249247 1730896 1349504 179645 47500 1481649 1563139 -173635 40000 1349504 1201850 381299 20000 1563139 1199089 6402 -3641 1201850 0 0 334621 234988 99633 29950 29950 0 106546 106546 206179 X 1762086 582571 274787 91176 948534 813552 0 813552 1198099 274787 91176 365963 832136 0 832136 PART III, LINE 1A: ART COLLECTION - IN CONFORMITY WITH STANDARD PRACTICES ALLOWED, ART OBJECTS PURCHASED AND DONATED ARE NOT INCLUDED IN THE STATEMENT OF FINANCIAL POSITION. THE COLLECTIONS CONSIST MOSTLY OF 19TH CENTURY TO CURRENT OILS, WATERCOLOR AND OTHER MEDIA PAINTINGS, AS WELL AS ORIGINAL PRINTS AND PHOTOGRAPHS. ADDITIONALLY, THERE ARE ALSO SMALL SCULPTURES AND A NUMBER OF DECORATIVE ARTS, PARTICULARLY AMERICAN ART POTTERY. THE VALUE OF THE OBJECTS ACQUIRED BY GIFT FOR WHICH THE MUSEUM CAN MAKE A REASONABLE ESTIMATE IS REPORTED IN THE STATEMENTS OF ACTIVITIES AND AMOUNTED TO $-0- FOR THE YEAR ENDED JUNE 30, 2024 AND 2023. THE COST OF ALL OBJECTS PURCHASED TOGETHER WITH THE VALUE OF OBJECTS ACQUIRED BY GIFT AS INDICATED IN THE PRECEDING PARAGRAPH, LESS THE PROCEEDS FROM DEACCESSIONS OF OBJECTS, ARE REPORTED AS A SEPARATE PROGRAM EXPENSE, "ACCESSION OF ART FOR COLLECTION NET OF DEACCESSIONS." FOR THE YEAR ENDED JUNE 30, 2024, PURCHASES WERE $5,045, AND THE PROCEEDS FROM DEACCESSIONS WERE $-0- AFTER COMMISSIONS OF $-0-. DURING THE YEAR ENDED JUNE 30, 2023, PURCHASE OF ART AMOUNTED TO $7,956, AND DEACCESSION PROCEEDS WERE $-0- AFTER COMMISSIONS OF $-0-. PART X, LINE 2: FASB ASC 740-10 ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAX POSITIONS. BASED ON AN EVALUATION OF UNCERTAIN TAX POSITIONS MANAGEMENT IS REQUIRED TO MEASURE POTENTIAL TAX LIABILITIES THAT COULD HAVE A RISK GREATER THAN A 50% LIKELIHOOD OF BEING REALIZED UPON SETTLEMENT. AS OF JUNE 30, 2024 MANAGEMENT HAS DETERMINED THAT THE HICKORY MUSEUM OF ART HAS NO SUCH RISK AND THEREFORE NO LIABILITIES HAVE BEEN RECORDED FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING DIRECT COST GALLERY SALES DONATED SERVICES PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING DIRECT COST GALLERY SALES DONATED SERVICES AUTO LAWN ART 34507 34507 6956 GALA 59511 59511 24581 2 12432 12432 72 106450 106450 31609 31609 74841 FORM 990, PART VI, SECTION B, LINE 11B DRAFT OF TAX RETURN IS EMAILED TO THE BOARD OF TRUSTEES WHO REVIEW AND AUTHORIZE THE SIGNING BEFORE SUBMISSION FORM 990, PART VI, SECTION B, LINE 12C OFFICER REVIEWS SIGNED STATEMENTS OF TRUSTEES FOR STATE GRANT REQUIREMENTS FORM 990, PART VI, SECTION B, LINE 15 THE TOP MANAGEMENT AND OTHER KEY EMPLOYEES' COMPENSATION IS REVIEWED AND APPROVED BY AN INDEPENDENT PARTY. THE BOARD OF TRUSTEES' FINANCE COMMITTEE MEETS TO DISCUSS SALARIES BEGINNING MID-FISCAL YEAR AND CONCLUDING AT FISCAL YEAR-END. A SALARY SPREADSHEET LISTING ALL KEY PERSONNEL IS CREATED BY THE BUSINESS MANAGER AND THEN SHARED WITH THE BOARD OF TRUSTEES' FINANCE COMMITTEE. THE FINANCE COMMITTEE REVIEWS AND COMPARES SALARIES WITH MARKET RATES AND PRIOR YEAR NUMBERS. THE FINANCE COMMITTEE THEN DETERMINES, BASED ON THE BUDGET FOR THAT YEAR, MARKET RATES, AND MERIT, IF RAISES ARE WARRANTED. THE FINANCE COMMITTEE THEN MAKES RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE. ONCE APPROVED, NUMBERS ARE SHARED WITH THE BOARD OF TRUSTEES AND A FINAL VOTE IS TAKEN PRIOR TO NOTIFYING STAFF. KEY EMPLOYEES AND STAFF ARE EXCUSED DURING THESE MEETINGS. SALARY MEETINGS ARE HELD IN CLOSED SESSION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FORM 990, PART IX, LINE 11G OUTSIDE CONTRACTING: PROGRAM SERVICE EXPENSES 52,875. MANAGEMENT AND GENERAL EXPENSES 25,972. FUNDRAISING EXPENSES 35,531. TOTAL EXPENSES 114,378.