Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
|
Total |
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Calendar year (or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | 16,464,017 | 17,145,591 | 17,059,182 | 27,376,630 | 25,282,841 | 103,328,261 |
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.... | 0 | |||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | 0 | |||||
| 4 | Total. Add lines 1 through 3 | 16,464,017 | 17,145,591 | 17,059,182 | 27,376,630 | 25,282,841 | 103,328,261 |
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. | 46,437,777 | |||||
| 6 | Public support. Subtract line 5 from line 4. | 56,890,484 | |||||
Calendar year
(or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | 16,464,017 | 17,145,591 | 17,059,182 | 27,376,630 | 25,282,841 | 103,328,261 |
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | 4,241,733 | 2,808,211 | 3,328,123 | 3,677,601 | 2,501,963 | 16,557,631 |
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | 69,854 | 62,018 | 70,920 | 70,842 | 63,623 | 337,257 |
| 11 | Total support. Add lines 7 through 10 | 120,223,149 | |||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support. (Subtract line 7c from line 6.) | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2015 | (b) 2016 | (c) 2017 | (d) 2018 | (e) 2019 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
|||||
| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by .035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | ||
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
||
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | ||
| 4 Amounts paid to acquire exempt-use assets | ||
| 5 Qualified set-aside amounts (prior IRS approval required) | ||
| 6 Other distributions (describe in Part VI). See instructions | ||
| 7Total annual distributions. Add lines 1 through 6. | ||
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
||
| 9 Distributable amount for 2019 from Section C, line 6 | ||
| 10 Line 8 amount divided by Line 9 amount | ||
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2019 |
(iii) Distributable Amount for 2019 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2019 from Section C, line 6 | ||||
|
2
Underdistributions, if any, for years prior to 2019 (reasonable cause required-- explain in Part VI). See instructions. |
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| 3 Excess distributions carryover, if any, to 2019: | ||||
| a From 2014....... | ||||
| b From 2015....... | ||||
| c From 2016....... | ||||
| d From 2017....... | ||||
| e From 2018....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2019 distributable amount | ||||
|
i
Carryover from 2014 not applied (see instructions) |
||||
| j Remainder. Subtract lines 3g, 3h, and 3i from 3f. | ||||
| 4Distributions for 2019 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2019 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from 4. | ||||
|
5
Remaining underdistributions for years prior to 2019, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
6
Remaining underdistributions for 2019. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
7 Excess distributions carryover to 2020. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2015..... | ||||
| b Excess from 2016..... | ||||
| c Excess from 2017..... | ||||
| d Excess from 2018..... | ||||
| e Excess from 2019..... | ||||
| Facts And Circumstances Test |
|---|
| Return Reference | Explanation |
|---|
| Software ID: | 19009920 |
| Software Version: | 2019v5.0 |
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents | The Collections Bylaws were amended as of June 4, 2020, to include the following changes (among other insignificant changes): (1) clarification that the Director and Chief Executive Officer has the authority to sign all contracts on behalf of the Collection; and (2) modification that the Executive Committee shall consist of the Chair, the Vice Chair, the Treasurer, and the Secretary, and such other Trustees as are recommended by the Chair and elected by the Board of Trustees instead of one other Trustee. The charter of the Executive Committee specifies that in addition to the officers who serve on the committee ex officio, not more than two and not less than one other Trustees are elected to the Executive Committee. |
| Form 990, Part VI, Line 11b: Form 990 Review Process | The Board of Trustees has delegated to the Audit Committee responsibility for oversight of the preparation and filing of the Form 990. The Audit Committee accordingly meets for the purpose of reviewing and commenting on a draft version of the Form 990 prior to filing. After the Form 990 is approved by the Audit Committee, a copy of the final return (without Schedule B, which is redacted to maintain donor anonymity) is made available to each member of the Board of Trustees before it is filed. The Form 990 additionally is reviewed by management prior to filing. |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | The Collections conflict of interest policy covers each member of the Board of Trustees, officer, key employee, other key person, and member of any committee of the Board of Trustees of the Collection (collectively "covered persons"). Each covered person makes annual written disclosures regarding entities known to do business with the Collection and in which the covered person or a family member of the covered has a financial, ownership, personal, professional or organizational interest or affiliation. The completed disclosure statements are reviewed by the Collection's General Counsel and the chair of the Audit Committee. The policy additionally requires covered persons to disclose potential conflicts of interest as they arise, or become known to the covered person, to the Chair of the Board, if the transaction will be considered for approval by the Board of Trustees, or, if the matter will come before a Committee of the Board, the relevant committee chair. The Chair or relevant committee chair reports the potential conflict to the chair of the Audit Committee and the General Counsel for evaluation and determination of whether an actual conflict of interest exists. Members of the Audit Committee may be consulted in making the determination, and, in any case, all disclosures and resulting determinations are reported to the Audit Committee. If it is determined that an actual conflict of interest exists, the Board of Trustees or committee, as applicable, is notified. If a covered person discloses a potential conflict of interest at a meeting during which the Board or committee is expected to take action on the matter, an actual conflict of interest is presumed under the policy. A transaction involving a conflict of interest for a covered person must be approved by only those Trustees or committee members who do not have a conflict with respect to the transaction. The covered person may not vote on the transaction or be present or participate in deliberations on the transaction, except that the covered person may present information concerning the transaction if so requested by the Board or relevant committee. |
| Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees | The Compensation Committee of the Board of Trustees recommends the compensation of the Director and Chief Executive Officer (the "Director") to the full Board of Trustees for its review and approval. The Compensation Committee also is responsible for setting the compensation of the other officers and key employees (who are compensated in their capacity as employees and not as officers) and other key employees based on the recommendations of the Director. The positions for which this procedure is followed are the the Chief Financial Officer and Assistant Treasurer; the General Counsel and Assistant Secretary; Deputy Director and Chief Operating Officer; the Chief Curator; the Deputy Director for External Affairs; Chief Human Resources Officer; and the Chief Librarian. In determining the reasonableness of compensation paid to each of the forgoing individuals, the Compensation Committee, and the Board of Trustees in the case of the Director, reviews comparability data available for peer organizations, including Forms 990 and published compensation surveys. |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | The Collection was incorporated by act of the New York State legislature, and its charter therefore is a public document. The charter also has been published by the Collection. A copy of the Collection's audited financial statements may be obtained by written request to the Collection. Portions of the audited financial statements, such as the statement of financial position and the statement of activities, are reproduced in the Collection's Annual Report, which is available on the Collection's website. The Collections bylaws and conflicts of interest policy are not generally available to the public. |
| Other Changes In Net Assets Or Fund Balances - Other Decreases | Museum Acquisitions = -$205965 |
| Other Changes In Net Assets Or Fund Balances - Other Decreases | Write Off = -$298574 |
| Form 990, Part III, Line 4A- Program Service Accomplishments | Museum Program (continued)Special Exhibitions: Henry Arnholds Meissen Palace: Celebrating a Collector November 7, 2019 to March 11, 2020 Visitors: 65,526 (during the period of July 1, 2019 to June 30, 2020) Manet: Three Paintings from the Norton Simon Museum October 16, 2019 to January 5, 2020 Visitors: 59,117 (during the period of July 1, 2019 to June 30, 2020) Bertoldo di Giovanni: The Renaissance of Sculpture in Medici Florence September 18, 2019 to January 12, 2020 Visitors: 47,510 (during the period of July 1, 2019 to June 30, 2020 Elective Affinities: Edmund de Waal at The Frick Collection May 30, 2019 to November 17, 2019 Visitors: 104,277 (during the period of July 1, 2019 to June 30, 2020) Whistler as Printmaker: Highlights from the Gertrude Kosovsky Collection April 30, 2019 to September 1, 2019 Visitors: 44,488 (during the period of July 1, 2019 to June 30, 2020) Tiepolo in Milan: The Lost Frescoes of Palazzo Archinto April 16, 2019 to July 14, 2019 Visitors:4,900 (during the period of July 1, 2019 to June 30, 2020) Education Programs: The Collection organized a total of 440 public education programs during the 2019 tax year that served approximately 8,686 individuals. Onsite programs held prior to the museums closure in March 2020 due to COVID-19 public health crisis included guided visits, after school programs, and courses for middle school, high school, and graduate students. And, for the general public, gallery conversations and dialogues, sketching and seminars and talks in the galleries, as well as lectures and panels and salon evenings featuring dance and music. The Fricks free nights known as First Fridays continued to serve broad audiences with extended hours and programs including sketching, music, and talks, in addition to special evenings specifically for college and teen audiences. After the museum closed to the public, the Education Department pivoted to online programming using realtime videoconferencing, with an emphasis on serving students engaged in both remote and hybrid learning. Online versions of the popular gallery conversations and drawing programs were also developed to serve the general public, alongside new online videos produced by curators in response to the pandemic, which gained an enormous following garnering more than 1 million views on YouTube during the 2019 tax year.Art History Lecture Series: 10 scholarly lectures presented to the public by curatorial staff of the Collection and guest speakers. The Frick Collection, FY20 Symposia: October 23, 2019Entering the Art Market: Collectors and Their PassionsNanne Dekking, Founder and CEO of Artory and Chairman of TEFAF, in conversation with collectors Bernard Lumpkin and Ann TenenbaumPresented by the Center for the History of Collecting, Frick Art Reference LibraryNovember 15 & 16, 2019Competing Truths: Art and the Objects of History after the Council of TrentPresented in collaboration with the Italian Academy of Columbia UniversityJanuary 28, 2020Goncourt Brothers and the Taste for the Eighteenth CenturyOlivier Berggruen, independent curator and art historian, and Yuriko Jackall, Curator of French Paintings, The Wallace CollectionPresented by the Center for the History of Collecting, Frick Art Reference LibraryPublications:Bertoldo di Giovanni: The Renaissance of Sculpture in Medici Florence, by Aimee Ng, Alexander J. Noelle, and Xavier F. Salomon, with contributions by Peter Jonathan Bell, Lorenz Bninger, Francesco Caglioti, Stefano Casciu, Ilaria Ciseri, Maria Grazia Cordua, Julia Day, James David Draper, Caroline Elam, Scott Nethersole, Neville Rowley, and Peter Stiberc; The Frick Collection in association with D Giles Limited, 2019Elective Affinities: Edmund de Waal at The Frick Collection, by Edmund de Waal and Charlotte Vignon; The Frick Collection, 2019Henry Arnholds Meissen Palace: Celebrating a Collector, by Charlotte Vignon with Julia Arnhold and Paul Arnhold; The Frick Collection, 2019Manet: Three Paintings from the Norton Simon Museum, by David Pullins; The Frick Collection, 2019 Rembrandts Polish Rider (Frick Diptych), by Maira Kalman and Xavier F. Salomon; The Frick Collection in association with D Giles Limited, 2019 |
| Form 990, Part III, Line 4B- Program Service Accomplishments | Library Program (continued)Drawing on the archival collections the library, the Center for the History of Collecting is a program that was established to foster awareness and scholarly study of the formation of fine and decorative arts collections and to promote the relevance of this subject to the history of art and culture. In the 2019 tax year, the Collection organized the following academic symposia on the history of collecting: |
| Form 990, Part IX, Line 24a | Program services, management and fundraising expenses include non-operating costs, a considerable portion of which are related to pension and other post-retirement benefits. These actuarially-calculated costs have a significant impact on the classification of functional expenses and their relative totals. |
| Form 990, Part VI, Line 1a- Executive Committee | The Board of Trustees has appointed an Executive Committee with the authority to exercise, during the intervals between regularly scheduled meetings of the Board of Trustees, all of the powers of the Board except that the Executive Committee may not amend or repeal the bylaws of the Collection or adopt new bylaws; fill vacancies in the Board of Trustees or in any Committee; or amend or repeal any resolution of the Board of Trustees which by its terms is not amendable or repealable; to fix the compensation of Trustees, if any, for serving on the Board or any committee; to elect or remove Officers or Trustees; to approve a merger or plan of dissolution; to approve the sale, lease, exchange or other disposition of art or stubstantiate all the assets of The Collection; or to ammend the charter of The Collection. The Executive Committee consists of the following members with voting rights: the Chair, the Vice Chair, the Secretary, and the Treasurer of the Collection, each of whom must be a member of the Board of Trustees under the Collections bylaws, as well as one other Trustee who is elected to the committee by the Board. The Director and Chief Executive Officer of the Collection is a nonvoting member of the Executive Committee. In addition to the offices correctly listed, not less than one other Trustee and not more than two other Trustees are elected to the Executive Committee. |
| Software ID: | 19009920 |
| Software Version: | 2019v5.0 |