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The Museum relies on the Company to provide most of its
management facilities. Specifically, the John Madden Co.
furnishes office space to the Museum, rent free, in one of the
buildings owned by the Company. Further, the Company allows the
Museum to use its accounting system free of charge.
The Museum also relies on the building owners (including the
Company) to provide spaces inside and outside their buildings
free of charge to display its artwork. Periodically, members of
the community hold special events, such as wedding receptions or
bar mitzvahs, in the spaces provided by the building owners. In
these instances, the Museum charges the community members a fee
for the use of the spaces furnished by the building owners.
These special events were held at various times during the years
at issue. The Museum recorded the following amounts as leasing
revenue, and incurred the following expenses, in connection with
the leasing of the office building spaces:
Year Revenues Expenses
1985 $300 $1,913
1986 9,560 7,810
1987 12,426 10,540
1988 8,638 5,244
Except for $425 in 1988, all of the expenses listed for the years
1986, 1987, and 1988 relate to payments made by the Museum to GMC
for services furnished by GMC in connection with the special
events. Prior to 1983, GMC did not charge the Museum any fee for
its services.
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Last modified: May 25, 2011