1?^ %goo. private foundation treatedasaprivate...

11 11?^ %goo. Private Foundation

Form 99O

or section 4947(a)(1) Nonexempt Charitable TrustDepartment of the Treasury Treated as a Private FoundationInternal Revenue Service t77) Note : The foundation may be able to use a copy of this return to satisfy state reporting requirements.

For calendar rear 2007, or tax year beginning , and ending

G Check all that aQQKr 0 Initial return 0 Final return 0 Amended return 0 Address chan g e 0 Name than e

Use the IRSName of foundation A Employer identification number

label. UBIN MUSEUM OF ART A/K/A THE SHELLEYOtherwise , DONALD RUBIN CULTURAL TRUST 22-6799567

print Number and street (or P O box number if mail is not delivered to street address ) Room/swte B Telephone numberortype . 150 WEST 17TH STREET 212-620-5000

See SpecificInstructions

City or town, state, and ZIP code C If exemption application is pending , check here.NEW YORK, NY 10 011 D 1 - Foreign organizations , check here

H Check type of organization : W Section 501(c)(3) exempt private foundation ions2.checkhereand atttach coomtpugt

the 85%5% test,

0 Section 4947 (a )( 1 ) nonexempt charitable trust Q Other taxable p rivate foundation E If t f td t t t t dI Fair market value of all assets at end of year J Accounting method: 0 Cash ® Accrual

priva oun ion se a a us was ermina eunder section 507(b)(1)(A), check here

rom Part 11, col. (c), line 16)(f E:J Other (specify) F If the foundation is in a 60-month termination$ 18 2 2 9 5 5 9 6 .hili- (Part 1, column (d) must be on cash basis) under section 507 ( b )( 1 B check here

Part I Analysis of Revenue and Expenses ( a) Revenue and (b ) Net investment ( c) Adjusted net ( d) Disbursements(The total of amounts in columns (b), (c), and (d) may notnecessarily equal the amounts in column (a)) expenses per books income income for charitable purposes

(cash basis only)

1 Contributions, gifts, grants , etc., received .9 , 618 , 867

2 Check►Q it the foundation is not required to attach Sch B -

Interest on savings and temporary3 cash investments 4 , 023 , 814. 4 , 023 . 814. 4 , 023 . 814. STATEMENT 24 Dividends and interest from securities 1 , 867 , 383. 1 , 867 , 383. 1 , 867 , 383. TATEMENT '35a Gross rents 612 , 586. 612 , 586. 612 5 8 6. TATEMENT "' 4b Net rental income or Coss) 612 , 586. - - -

6a Net gain or Coss) from sale of assets not on line 10 - 876 , 216. STATEMENT' 1b Gross sales price for all

47 . 772 ,742 .assets on line 8a - _ - - ' - -

7 Capital gain net income (from Part IV, line 2 ) 0. - - -

8 Net short -term capital gain 0.

9 Income modifications ..

sreturns

l ancet 0a andalw 771 , 607. STATEMENT 5--ib Less Cost of goods sold 368 664.c Gross profit or (loss) 402 943. 402 , 943. --

11 Other income 1 , 143 , 432. 0. 1 , 143 , 432- STATEMENT 6 _-12 Total . Add lines 1 throw h 11 16 , 792 809 . 6 , 503 , 783. 8 050 158. V13 Compensation of officers, directors, trustees, etc 330 511. 62 , 000. 96 999. 236 , 558.14 ot 3 , 465 , 851. 0. 451 755. 3 , 135 , 539.15 Pe PaR IIW 376 988. 0. 49 138. 074.306

y 16a to S7 20 911. 0. 2 726. 24 051.a

g;

b Ac T 8

7

47 135. 0. 6 144. 89 818.W c Ot S 9 811 357. 187 827. 269 101. 464 828.Y st17 Int 38 , 212. 0. 4 , 981. 32 , 922.

18 Ta10 444 062. 96 , 653. 141 936. 270 237.19 Depreciation a depletion 2 , 169 , 051. 93 , 641. 364 , 159.

E 20 Occupancy 904 973. 16 , 391. 132 213. 748 635.a 21 Travel, conferences , and meetings 86 , 936. 0. 11 , 332. 106 , 770.M

22 Print i ng and publications 237 , 580. 0. 30 , 967. 216 , 798.0 23 Other expenses STMT 11 5 , 606 , 577. 149 981. 591 417. 2 , 747 , 269.L 24 Total operating and administrative

c. expenses . Add lines 13 through 23 14 , 540 , 144. 606 . 493. 2 , 152 , 868. 8 , 379 , 499.0 25 Contributions , gifts, grants paid V

26 Total expenses and disbursements.

Add lines 24 and 25 14 540 144. 606 493. 2 , 152 , 868. 8 379 499.27 Subtract line 26 from line 12:

a Excess of revenue over expenses and disbursements 2 , 252 , 665.b Net investment income (if negative , enter -0-) 5 897 290.c Adiusted net income (if negative, enter -0- ) 5 8 9 7 2 9 0.

LHA For Privacy Act and Paperwork Reduction Act Notice, see the instructions . Form 990-PF (2007)72350102-20-08 I,1 11

13581030 759420 226799567 2007.06050 RUBIN MUSEUM OF ART A/K/A T 22679951

OMB No 1545-0052

2007

I RUBIN MUSEUM OF ART A/K/A THE SHELLEY -Fnrm qq0-PF ( 20071 L fC)?ThT . TI ATTPT%T OUT.;T R T, TPTTCT 7 7- E 7 4 4 c sz7 Pane 9

' Balance Sheets Attached Scheduiesaud amounts in tile description Beginning of year End of yearPart 11 column should be for end-of-year amounts only (a ) Book Value ( b) Book Valu (c) Fair Market Value

I Cash - non-interest - bearing 424 , 925. 251 .K86 251 , 868.2 Savings and temporary cash investments

'3 Accounts receivable ► 135 , 582.Less: allowance for doubtful accounts ► 228 7 6 4. 135 582. 135 582.

4 Pledges receivable ►Less: allowance for doubtful accounts ►

5 Grants receivable - - 324 900. 1 , 068 , 243. 1 , 068 , 243.6 Receivables due from officers , directors , trustees, and other

disqualified persons

7 Other notes and loans receivable

Less: allowance for doubtful accounts ►M 8 Inventories for sale or use 330 , 545. 479 , 247. 479 , 247.

9 Prepaid expenses and deferred charges 248 , 749. 265 , 044. 265 , 044.10a investments - U.S. and state government obligations STMT 14 5 188 , 221. 1 408 , 023. 1 , 408 , 023.

b Investments - corporate stock •

c investments - corporate bonds - - -• -

11 Investments - land,buddings, and equipment basis ► _ ,_ _,_ , ,__ _ _ _ _ '__

Less accumulated depreciation ►

12 Investments - mortgage loans -

13 Investments - other STMT 15 86 955 712. 89 827 218. 89 827 218.14 Land, buildings, and equipment basis ► 68 , 848 , 129 . V _' •' V -- •

Less accumulated depreciation STMT 160- 7 , 130 , 539. 58 , 571 , 348. 61 , 717 , 590. 61 , 717 , 590.15 other assets ( describe ► STATEMENT 17) 25 072 881. 27 , 142 , 781. 27 , 142 781 .

16 Total assets to be comp leted by all filers 177 , 346 045. 182 , 295 , 596. 182 295 596.17 Accounts payable and accrued expenses - 613 655. 1 , 313 , 289.18 Grants payable

u) 19 Deferred revenue - 100 , 055. 128 , 631. - •- 20 Loans from officers , directors, trustees, and other disqualified persons ,

tea 21 Mortgages and other notes payable - •

'' 22 Other liabilities ( describe ► STATEMENT 18) 87 , 548. 58 , 938.

23 Total liabilities add lines 17 throug h 22 801 , 258. 1 , 5 00 , 858. -

-

•_-

Foundations that follow SFAS 117, check here ► ® - • - , ,;

and complete lines 24 through 26 and lines 30 and 31. ' = • `COO

24 Unrestricted - 164 , 892 , 685. 170 , 492 , 760. ,25 Temporarily restricted 11 , 652 , 102. 10 , 301 , 978. ' -

m 26 Permanently restricted

C Foundations that do not follow SFAS 117 , check here ► 0 - '

and complete lines 27 through 31-

y 27 Capital stock , trust principal , or current funds - - -

,mn 28 Paid-in or capital surplus, or land, bldg ., and equipment fund

a 29 Retained earnings, accumulated income, endowment, or other funds , - _

ou 30 Total net assets or fund balances 176 544 787. 180 794 738.

31 Total liabilities and net assets/fund balances 177 , 3 46 , 04 5. 182 , 295 , 596 . = -

Part 111 Analysis of Changes in Net Assets or Fund Balances

1 Total net assets or fund balances at beginning of year - Part II, column (a), line 30

(must agree with end-of-year figure reported on prior year's return) 1 176 . 544 787 .2 Enter amount from Part I, line 27a - 2 2 . 252 665 .

3 Other increases not included in line 2 (itemize) ► SEE STATEMENT 12 3 2 , 069 , 900.4 Add lines 1, 2, and3 - • •• - 4 180 , 867 , 352.5 Decreases not included in line 2 (itemize) ► SEE STATEMENT 13 5 72 , 614.6 Total net assets or fund balances at end of year (line 4 minus line 5) - Part II, column (b). line 30 A IRO - 7()4 - 738 _

Form 990-PF (2007)7M1102-20-08


T RUBIN MUSEUM OF ART A/K/A THE SHELLEYForm 990-PF (2007) & DONALD RUBIN CLTLTTTRAL TRUST 22-6799567 Page3

j Part IV I Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate,2-story brick warehouse; or common stock, 200 shs. MLC Co.)

(b How acquiredPurchase

D Donation

(c) Date acquired(mo., day, yr.)

(d) Date sold(mo., day, yr.)

is SALE' OF MUTUAL FUNDS P VARIOUS VARIOUSb SALE OF COMMON STOCKS P VARIOUS VARIOUSCd

e

(e) Gross sales price (f) Depreciation allowed(or allowable)

(g) Cost or other basisplus expense of sale

(h) Gain or (loss)(e) plus (f) minus (g)

a 42 752 552. 43 695 283. -942 , 731.b 5 , 020 , 190. 4 , 953 , 675. 66 , 515.Cd

eComplete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (I) Gains (Col. (h) gain minus

(I) F.M.V. as of 12/31/69(j) Adjusted basisas of 12/31/69

(k) Excess of col. (i)over col. (1), if any

col. (k), but not less than -0-) orLosses (from col. (h))

a -942 , 731.b 66 , 515.Cd

e

2If gain, also enter in Part I, line 7

Capital gain net income or (net capital loss) S. If (loss) enter -0- in Part I line 7 } 2 -876 , 216.

3

,,

Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):If gain, also enter in Part I, line 8, column (c)It (loss), enter -0- in Part I, line 8 3 -876 , 216.

PartV I Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.) N/A

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base penod7 0 Yes 0 No

If'Yes,' the foundation does not qualify under section 4940(e). Do not complete this part

1 Enter the appropriate amount in each column for each year, see instructions before making any entries.

Base period yearsCalendar year or tax year be innm m (bnAdjusted qualify g distributions Net value of noncharitable use assets

Distributtiion ratio(col. (b) divided by col. (c))

2006

2005

2004

2003

2002

2 Total of line 1, column (d) „ , . 2

3 Average distribution ratio for the 5-year base period - divide the total on line 2 by 5, or by the number of years

the foundation has been in existence if less than 5 years 3

4 Enter the net value of noncharitable-use assets for 2007 from Part X, line 5 4

5 Multiply line 4 by line 3 5

6 Enter 1% of net investment income (1% of Part I, line 27b) 6

7 Add lines 5 and 6 7

B Enter qualifying distributions from Part XII, line 4 8

If line 8 is equal to or greater than line 7, check the box in PartVI, line 1b, and complete that part using a 1% tax rate.See the Part VI instructions.

723521/02-20-08 Form 990-PF (2007)


t RUBIN MUSEUM OF ART A/K/A THE SHELLEY IForm 990-PF (2007) & DONALD RTT071- CULTURAL TRUST 22-6799567 Part VI Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948 - see instructions)

la Exempt operating foundations described in section 4940(d)(2) check here ►0 and enter "N/A' on line 1 •, ^r ^ °Date of ruling letter, ( attach copy of ruling letter if necessary-see instructions)

b Domestic foundations that meet the section 4940(e) requirements in Part V, check here ► and enter 1% 1 0

of Part 1, line 27b

c All other domestic foundations enter 2% of tine 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)

2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0.

3 Add lines 1 and 2 3 0.4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0 .

5 Tax based on investment income . Subtract line 4 from line 3. If zero or less, enter -0- - - 5 0 .6 Credits/Payments:

a 2007 estimated tax payments and 2006 overpayment credited to 2007 6a -

b Exempt foreign organizations - tax withheld at source . - 6b

c Tax paid with application for extension of time to file (Form 8868) 6c .

d Backup withholding erroneously withheld - - 6d

7 Total credits and payments. Add lines 6a through 6d - - - - 7 0

8 Enter any penalty for underpayment of estimated tax. Check here E] if Form 2220 is attached 8

9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed - - -- ► 9 0.10 Overpayment . If line 7 is more than the total of lines 5 and 8, enter the amount overpaid ► 1011 Enter the amount of line 10 to be: Credited to 2008 estimated tax Poo, Refunded No. 11Part VII-A Statements Regarding Activities

la During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in Yes Noany political campaign? - - - la X

b Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see instructions for definition)? 1b XIf the answer is "Yes" to 1 a or 1 b, attach a detailed descnption of the activities and copies of any materials published or =

distributed by the foundation in connection with the activities. -

c Did the foundation file Form 1120-POL for this year? - - - 1c Xd Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year.

(1) On the foundation. ► $ 0 . (2) On foundation managers. 10- $ 0.

e Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed on foundation

managers. ► $ 0. -_2 Has the foundation engaged in any activities that have not previously been reported to the IRS? 2 X

If 'Yes,' attach a detailed descnption of the activities.

3 Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or

bylaws, or other similar instruments? If 'Yes," attach a conformed copy of the changes 3 X

4a Did the foundation have unrelated business gross income of $1,000 or more during the year? - 4a Xb If 'Yes,' has it filed a tax return on Form 990-T for this year? - •• - N/A 4b

5 Was there a liquidation, termination, dissolution, or substantial contraction during the year? - - 5 XIf 'Yes,' attach the statement required by General Instruction T.

6 Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

• By language in the governing instrument, or

• By state legislation that effectively amends the governing instrument so that no mandatory directions that conflict with the state law

remain in the governing instrument? 6 X7 Did the foundation have at least $5,000 in assets at any time during the year? -- 7 X

If 'Yes,' complete Part ll, col. (c), and Part XV.

8a Enter the states to which the foundation reports or with which it is registered (see instructions) ►NY

b If the answer is 'Yes' to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate)

of each state as required by General Instruction G? If 'No,' attach explanation 8b9 Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar --

year 2007 or the taxable year beginning in 2007 (see instructions for Part XIV)? If 'Yes,' complete Part XIV - 9 X10 Did anv nersnns hernme cnhstantI2 r•-nntrihiitnrc dunnn tho tav van? ------- in Y

Form 990-PF (2007)

72353102-20-08


T i- RUBIN MUSEUM OF ART A/K/A THE SHELLEYForm 990-PF (2007) iz. Tlf1NAT.TI PTTRTTT C'TTT.TTTP Z T. •FV iTtm

Statements Re!

11a At any time during the year , did the foundation , directly or indirectly , own a controlled entity within the meaning of section 512( b)(13)?

If 'Yes,' attach schedule. (see instructions) 11a Xb If 'Yes; bid the foundation have a binding written contract in effect on August 17, 2006 , covering the interest, rents , royalties, and

'annuities described in the attachment for line 1 lag - N/A 11b

12 Did the foundation acquire a direct or indirect interest in any applicable insurance contract? . 12 X13 Did the foundation comply with the public inspection requirements for its annual returns and exemption application? _ 13 X

Website address ► WWW. RMANYC . ORG

14 The books are m care of ► MARILENA CHRISTODOULOU Telephone no. 0p. ( 212 ) 6 2 0 - 5 0 0 0Located at ► 15 0 WEST 17TH STREET , NEW YORK , NY ZIP+4 ►10 0 1 11

15 Section 4947 ( a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 - Check here ►0

Part VII - B Statements Regarding Activities for Which Form 4720 May Be RequiredFile Form 4720 if any item is checked in the "Yes" column , unless an exception applies. Yes No

la During the year did the foundation (either directly or indirectly): - -

(1) Engage in the sale or exchange , or leasing of property with a disqualified person? . 0 Yes ® No

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from) '- ;

a disqualified person? 0 Yes ® No

(3) Furnish goods , services, or facilities to (or accept them from ) a disqualified person? ® Yes 0 No V '

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? =Yes ® No - V( 5) Transfer any income or assets to a disqualified person ( or make any of either available

for the benefit or use of a disqualified person )? 0 Yes ® No

(6) Agree to pay money or property to a government official? ( Exception . Check 'No' -

if the foundation agreed to make a grant to or to employ the official for a period after

termination of government service, if terminating within 90 days. ) Yes ® No

b If any answer is Yes' to la(1)-(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941 ( d)-3 or in a current notice regarding disaster assistance (see page 22 of the instructions)? lb XOrganizations relying on a current notice regarding disaster assistance check here - ►Q .

c Did the foundation engage in a prior year in any of the acts described in la, other than excepted acts , that were not corrected V -

before the first day of the tax year beginning in 2007? 1c X2 Taxes on failure to distribute income ( section 4942 ) ( does not apply for years the foundation was a private operating foundation - V

defined in section 4942 (j)(3) or 4942(j)(5)):

a At the end of tax year 2007, did the foundation have any undistributed income ( lines 6d and 6e, Part XIII) for tax year(s) beginning

before 2007? 0 Yes ® NoIf 'Yes," list theyears ► • -

b Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect _

valuation of assets) to the year ' s undistributed income? ( If applying section 4942 ( a)(2) to all years listed , answer 'No' and attach

statement - see instructions.) - N/A 2bc If the provisions of section 4942 (a)(2) are being applied to any of the years listed in 2a, list the years here. - -

3a Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time _during the year? 0 Yes ® No- - i

b If 'Yes; did it have excess business holdings in 2007 as a result of ( 1) any purchase by the foundation or disqualified persons after

May 26 , 1969; (2) the lapse of the 5-year period ( or longer period approved by the Commissioner under section 4943 (c)(7)) to dispose -of holdings acquired by gift or bequest', or (3) the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C,Form 4720, to determine if the foundation had excess business holdings in 2007.) - - N/A 3b

4a Did the foundation invest during the year any amount in a manner that would jeopard ize as charitable purposes? 4a Xb Did the foundation make any investment in a prior year ( but after December 31, 1969 ) that could jeopard ize its charitable purpose that _ •

had not been removed from ieopardy before the first day of the tax year be -g innin g in 2007? 4b X

Form 990-PF (2007)

72354102-20-07

5L3581030 759420 226799567 2007.06050 RUBIN MUSEUM OF ART A/K/A T 22679951

RUBIN MUSEUM OF ART A/K/A THE SHELLEY-6799567

Part Vii-B I Statements Regarding Activities for Which Form 4720 May Be Required (Continue-4 )5a During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? 0 Yes ® No

(2) Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly,

anyvoter registration drive? - 0 Yes ® No

(3) Provide a grant to an individual for travel, study, or other similar purposes? - Yes ® No

(4) Provide a grant to an organization other than a charitable, etc., organization described in section

509(a)(1), (2), or (3), or section 4940(d)(2)? . , E Yes ®No

(5) Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for

the prevention of cruelty to children or animals? _ . 0 Yes ® No VSb If any answer is 'Yes' to 5a(1)-(5), did any of the transactions fail to qualify under the exceptions described in Regulations

section 53.4945 or in a current notice regarding disaster assistance (see instructions)? N/A 5b

Organizations relying on a current notice regarding disaster assistance check here _ ►0c If the answer is'Yes'to question 5a(4), does the foundation claim exemption from the tax because it maintained ,

expenditure responsibility for the grant? N/A 0 Yes NoIf 'Yes,' attach the statement required by Regulations section 53.4945-5(d).

6a Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract? ED Yes ® No ._;_ •^b Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? _ 6b X

If you answered 'Yes' to 6b, also file Form 8870.

7a At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? 0 Yes ® Nob If yes , did the foundation receive any proceeds or have any net income attributable to the transaction? N /A 7b

Part VIII Information About Officers, Directors, Trustees , Foundation Managers , Highlya Paid Employees, and Contractors

1 List all officers . directors . trustees . foundation managers and their comoensation_

(a) Name and address(b) Title, and average

hours per week devotedto p osition

(c) Compensation(If not paid,enter -0

(d)Contribuhonsto

emp anddefereredpianscompensation

Ex enseaccount, otherallowances

SEE STATEMENT 19 313 765. 16 , 746. 0.

c ',u,nlpensauon oT jive n,gnesl-oala emoiovees comer Znan moss included on line TI_ It none- enter "NUNl °

(a) Name and address of each employee paid more than $50,000(b Title and averagehours per week

devoted to p osition(c) Compensation

(d) Conmbubons to

e p anddeferredp^nscompensation

(e) Ex enseaccount, otherallowances

CARON SMITH CHIEF CURATOR150 WEST 17TH STREET , NEW YORK , NY 10 40.00 150 000. 8 1 531. 0.CHRIS PHELAN MANAGER, SPEC IAL EVENT S150 WEST 17TH STREET , NEW YORK , NY 10 40.00 125 815. 7 . 399. 0.LISA SCHUBERT HEAD OF COMMUNICATIONS150 WEST 17TH STREET , NEW YORK , NY 10 40.00 115 000. 7 , 012. 0.MITCHELL ROTH ACILTIES MAN AGER150 WEST 17TH STREET , NEW YORK , NY 10 40.00 106 500. 15 089. 0.TIMOTHY MCHENRY PRODUCER150 WEST 17TH STREET , NEW YORK , NY 10 40.00 102 000. 10 , 5191 0.Total number of other employees paid over $50,000 ► 1 15

Form 990-PF (2007)

72355102-20-08


V 1, RUBIN MUSEUM OF ART A/K/A THE SHELLEY I IForm 990-PF (2007) & DONALD RUBIN CULTURAL TRUST 22-6799567 Pagel

Part VIIIInformation About Officers , Directors, Trustees, Foundation Managers, Highly

0Paid Employees , and Contractors (continued)3 Five highest-paid independent contractors for professional services. If none, enter "NONE."

(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation

ELYRAN MURPHY GROUP LTD.1040 AVENUE OF THE AMERICAS 5TH FLOOR , NEW Y VERTISING 274 130.RUBENSTEIN PUBLIC RELATIONS1345 AVENUE OF THE AMERICAS NEW YORK , NY 1010 PUBLIC RELATIONS 61 , 222.DAVID JACKSON CURATORIAL AND752 SUZANNE CT , LANGLEY , WA 98260 PUBLICATIONS CONSUL 54 , 013.EDUCATIONAL BROADCASTING CORPORATION430 WEST 33RD STREET , NEW YORK , NY 10001 ADVERTISING 100 000.JFM2 PRODUCTIONS438 FIFTH AVENUE , PELHAM NY 10803 EVENT CONSULTANT 58 171.Total number of others receivinover $50 ,000 for p rofessional services ► 0Part IX-A Summary of Direct Charitable Activities

List the foundation ' s four largest direct charitable activities during the tax year . Include relevant statistical information such as thenumber of organizations and other beneficiaries served, conferences convened , research papers produced, etc. Expenses

1SEE STATEMENT A

8 , 165 , 453.2

3

4

I Part IX-B I Summary of Program-Related InvestmentsDescribe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount

1 N /A

2

All other program-related investments. See instructions.

3

Total. Add lines 1 through 3 ► 0.

Form 990-PF (2007)

72350102-20-08


k_ RUBIN MUSEUM OF ART A/K/A THE SHELLEYForm 990-PF (2007) & DONALD RUBIN CULTURAL TRUST 22-6799567 Page8

Part X Minimum Investment Return (All domestic foundations must complete this part . Foreign foundations , see instructions.)

1 Fair market value ofassets not used (or held for use) directly in carrying out charitable, etc., purposes: -

a Average monthly fair market value of securities 1 a 89 , 017 , 332.b Average of monthly cash balances lb 478 , 548.c Fair market value of all other assets Ic 1 977 . 794 .d Total (add lines la, b, and c) 1d 91 473 674.

e Reduction claimed for blockage or other factors reported on lines la and

1c (attach detailed explanation) le 0.

2 Acquisition indebtedness applicable to line 1 assets _ 2 0 .

3 Subtract line 2 from line l d 3 91 , 473 , 674.4 Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see instructions) _ 4 1 , 372 , 105 .5 Net value of noncharitable - use assets . Subtract line 4 from line 3. Enter here and on Part V, line 4 5 90 , 101 , 569 .6 Minimum investment return . Enter 5% of line 5 6 4.505.078 .

Part XIDistributable Amount (see instructions) (Section 4942(1)(3) and (f)(5) private operating foundations and certainforeign organizations check here ► ® and do not complete this part)

1 Minimum investment return from Part X, line 6 1

2a Tax on investment income for 2007 from Part VI, line 5 2a

b Income tax for 2007. (This does not include the tax from Part VI.) 2b

c Add lines 2a and 2b 2c

3 Distributable amount before adjustments. Subtract line 2c from line 1 _ 3

4 Recoveries of amounts treated as qualifying distributions 4

5 Add lines 3 and 4 5

6 Deduction from distributable amount (see instructions) 6

7 Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 7

Part X11 Qualifying Distributions (see instructions)

1 Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

a Expenses, contributions, gifts, etc. - total from Part I, column (d), line 26 la 8 , 379 , 499.b Program-related investments - total from Part IX-B - lb 0.

2 Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc., purposes 2 7 , 371 , 056.3 Amounts set aside for specific charitable projects that satisfy the:

a Suitability test (prior IRS approval required) 3a

b Cash distribution test (attach the required schedule) 3b

4 Qualifying distributions . Add lines la through 3b. Enter here and on Part V, line 8, and Part XIII, line 4 4 15 , 750 , 555.5 Foundations that quality under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b 5 0.

6 Adjusted qualifying distributions . Subtract line 5 from line 4 ,- 6 15 , 7 5 0 , 555.Note : The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for the section

4940(e) reduction of tax in those years

Form 990-PF (2007)

72357102-20-08


RUBIN MUSEUM OF ART A/K/A THE SHELLEYForm 990-PF (2007) & DONJLU RUBIlV CULTURAL TRUST 22-6799567

Part XIII Undistributed Income (see instructions)

(a) (b) (c) (d)Corpus Years prior to 2006 2006 2007

1 Distributable amount for 2007 from Part XI, -

line 7 n

2 Undistributed income , if any, as of the end of 2006 ,. - - '

a Enter amount for 2006 only -

b Total for prior years:

0.3 Excess distributions carryover, if any, to 2007: '

a From 2002

b From 2003

c From 2004 - -

d From 2005 "

e From 2006 •_ =

f Total of lines 3a through e 0. -

4 Qualifying distributions for 2007 from

Part X11, line 4: 11110- $ N /A

a Applied to 2006, but not more than line 2a - -

b Applied to undistributed income of prior - " -

years (Election required - see instructions) '- 0

c Treated as distributions out of corpus - -'

(Election required - see instructions) 0.

d Applied to 2007 distributable amount - - -

e Remaining amount distributed out of corpus 0. -

5 Excess distributions carryover applied to 2007 0Of an amount appears in column (dj the same amount - -must be shown in column (a)) - - - '

6 Enter the net total of each column as - - -indicated below:

a corpus Add lines 3f, 4c, and 4e Subtract line 5 0

b Prior years' undistributed income. Subtract '. -

line 4b from line 2b - - 0.c Enter the amount of prior years' • -undistributed income for which a notice ofdeficiency has been issued, or on which - -the section 4942(a) tax has been previously V -assessed - 0 -

d Subtract line 6c from line 6b. Taxable '

amount - see instructions 0e Undistributed income for 2006. Subtract line "- -

4a from line 2a. Taxable amount - see instr. - • - -

f Undistributed income for 2007. Subtract •

lines 4d and 5 from line 1. This amount must

be distributed in 2008 - -

7 Amounts treated as distributions out of ' V

corpus to satisfy requirements imposed by

section 170(b)(1)(F) or 4942(g)(3) 0 . "

8 Excess distributions carryover from 2002

not applied on line 5 or line 7 0 . -

9 Excess distributions carryover to 2008. - '

Subtract lines 7 and 8 from line 6a 0 . - '10 Analysis of line 9: -

a Excess from 2003 "

b Excess from 2004

c Excess from 2005

d Excess from 2006 '

e Excess from 2007 '

0.

0.

0.

0.

). -

Form 990-PF (2007)72358102-20-08


RUBIN MUSEUM OF ART A/K/A THE SHELLEY

ons (see instructions and Part VII-A, question 9)

-6799567

1 a If the foundation has received a ruling or determination letter that it is a private operating

foundation, and the ruling is effective fo r 2007, enter the date of the ruling

b Check box to indicate whether the foundation is a p rivate o eratm foundation described

2 a'Enter the lesser of the adjusted net Tax year

income from Part I or the minimum (a) 2007 (b) 2006

investment return from Part X for

each year listed 4 , 505 , 078. 2 , 472 , 534b 85% of line 2a 3 , 829 , 316. 2 , 101 , 654c Qualifying distributions from Part XII,

line 4 for each year listed 15 , 750 , 555. 17 , 112 , 715d Amounts included in line 2c not

used directly for active conduct of

exempt activities - 0. 0e Qualifying distributions made directly

for active conduct of exempt activities.

Subtract line 2d from line 2c 15 , 750 , 555. 17 , 112 , 7153 Complete 3a, b, or c for the

alternative test relied upon:a 'Assets' alternative test - enter:

(1) Value of all assets

(2) Value of assets qualifyingunder section 4942(I)(3)(B)(i)

b 'Endowment' alternative test - enter2/3 of minimum investment returnshown in Part X, line 6 for each yearlisted 3 , 003 , 385. 2 , 127 , 425,

c 'Support' alternative test - enter:

(1) Total support other than grossinvestment income (interest,dividends, rents, payments onsecurities loans (section512(a)(5)), or royalties)

(2) Support from general publicand 5 or more exemptorganizations as provided insection 4942(I)(3)(B)(uQ

(3) Largest amount of support from

an exempt organization

► 108/11/99ion . ® 4942()(3) orPrior 3 years

(c) 2005 ( d) 2004

1.210.196.1 1.7

] 4942(j)(5)

(e) Total

42. 9 , 627 , 904.51. 8 , 183 , 718.

62.58,659.157.

31.

Part XV Supplementary Information (Complete this part only if the foundation had $5,000 or more in assetsat any time during the year-see the instructions.)

1 Information Regarding Foundation Managers:

a List any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation before the close of any taxyear (but only if they have contributed more than $5,000). (See section 507(d)(2).)

SEE STATEMENT 20b List any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the ownership of a partnership or

other entity) of which the foundation has a 10% or greater interest

NONE2 Information Regarding Contribution , Grant, Gift, Loan, Scholarship , etc., Programs:

Check here ►® if the foundation only makes contributions to preselected charitable organizations and does not accept unsolicited requests for funds. Ifthe foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under other conditions, complete items 2a, b, c, and d.

a The name, address, and telephone number of the person to whom applications should be addressed:

b The form in which applications should be submitted and information and materials they should include:

c Any submission deadlines:

d Any restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other factors:

723601102-20-08 Form 990-PF (2007)10


f RUBIN MUSEUM OF ART A/K/A THE SHELLEYForm 990- PF (2007 ) & DONALD RUBIN CTTT^^ r'AL TRUST

on

3 Grants and Contributions Paid Durin the Year or Approved for Future Pa ent

Recipient If recipient is an individual,,show any relationship to Foundation Purpose of grant or

Name and address (home or business) any foundation manager status of contribution Amountor substantial contributor recipient

a Paid during the year

NONE

Total ► 3a 0.

b Approved for future payment

NONE

Total ► 3b 1 0.723011102-20-08 Form 990-PF (2007)


RUBIN MUSEUM OF ART A/K/A THE SHELLEYForm 990-PF (2007) & DONALD RUBI^^ CULTURAL TRUST 2 2 - 6 7 9 9 5 6 7

Part XVI-A Analysis of Income-Producing Activities

ross amounts unless otherwise indicatedEnter unreiateu ousmess income Excluded by section 512 , 513 , or 514g .b d

(e)

R l t(a)Business

( ) Ex u-Sion

(d) e a ed or exempt

1 PPogram service revenue: codeAmount code Amount function income

a MUSEUM ADMISSION FEES 220 718.b PROGRAM FEES 182 960.Cd

e

f

g Fees and contracts from government agencies

2 Membership dues and assessments 398 , 951.3 Interest on savings and temporary cash

investments 14 4 , 023 , 814.4 Dividends and interest from securities 14 1 8 67 , 383.5 Net rental income or (loss) from real estate:

a Debt-financed property

b Not debt-financed property 16 612 , 586 .6 Net rental income or (loss) from personal

property

7 Other investment income

8 Gain or (loss) from sales of assets other

than inventory 18 -876 , 216.9 Net income or (loss) from special events

10 Gross profit or (loss) from sales of inventory 402 , 943.11 Other revenue:

a OTHER INCOME 90 , 862.b MUSEUM FACILITY RENTc INCOME 16 249 941.d

e

12 Subtotal. Add columns (b), (d), and (e) 0. 5 , 877 , 508. 1 , 296 , 434.13 Total . Add line 12, columns (b), (d), and (e) 13 7,173, 942.(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B Relationship of Activities to the Accomplishment of Exempt Purposes

Line No .V

Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment ofthe foundation's exempt purposes (other than by providing funds for such purposes).

1A SEUM ADMISSION FEES-PAID BY VISITORS TO THE MUSEUM WHO COME TO VIEW1A EXHIBITIONS AND LEARN ABOUT HIMALAYAN ART.1B PROGRAM FEES-GENERATED FROM VARIOUS PUBLIC PROGRAMS AT THE MUSEUM ,1B INCLUDING EDUCATIONAL AND FAMILY PROGRAMS , IN ORDER TO ENGAGE PUBLIC1B INTEREST IN HIMALAYAN ART AND CULTURE.2 MEMBERSHIP DUES-ANNUAL FEES COLLECTED FROM PATRONS IN RETURN FOR FREE2 MISSION INVITATIONS TO SPECIAL EVENTS AND RECOGNITION.10 HE RUBIN MUSEUM OF ART STORE SELLS MERCHANDISE THAT IS DIRECTLY10 ELATED TO THE EXHIBITIONS AND INTERPRETIVE MATERIALS IN THE GALLERIES10 O ALLOW VISITORS TO EXTEND THEIR AESTHETIC AND EDUCATIONAL10 XPERIENCE.

J11A THER INCOME-GENERATED FROM SOURCES INTEGRAL TO THE MUSEUM'S EXEMPT11A URPOSE.

zzooos Form 990-PF (2007)12


RUBIN MUSEUM OF ART A/K/A THE SHELLEYForm 990-PF (2007) & DONALD RUBIN CULTURAL TRUST 2 2 - 6 7 9 9 5 6 7 Part XVII Information Regarding Transfers To and Transactions and Relationships With Noncharitable

1 Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of Yes No

the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

a 'Transfers from the reporting foundation to a noncharitable exempt organization of

(1) Cash • • _ _ _

(2) Other assets _ . ,

b Other transactions:

(1) Sales of assets to a noncharitable exempt organization lb ( l )

(2) Purchases of assets from a noncharitable exempt organization lb ( 2 )

(3) Rental of facilities, equipment, or other assets lb ( 3)

(4) Reimbursement arrangements lb ( 4 )

(5) Loans or loan guarantees lb ( 5 )

(6) Performance of services or membership or fundraising solicitations .. _ lb ( 6 )

Sharing of facilities, equipment, mailing lists, other assets, or paid employees _ tc

If the answer to any of the above is 'Yes, complete the following schedule. Column (b) should always show the fair market value of the goods, other assets,

or services given by the reporting foundation. If the foundation received less than fair market value in any transaction or sharing arrangement, show in

(a) Name of organization (b) Type of organization (c) Description of relationship

N /A

Under penalties of perjury, I declar ave examined this return , including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct,

and complete Declaration of pr er ther payer or fiduciary) is based on all information of which preparer has any knowledge

t

Signature officer or trust Da

0 Preparer's '-L signature 4^p,(D Firm's name (or yours LUTZ CARR, CPA' S LLPa j it self-employed ) , 300 EAST 42ND STREET'

address and ZiRcode W YORK NY 10 017

72382202-20-08

13581030 759420 226799567 2007.06050

2a Is the foundation directly or indirectly affiliated with, or related to , one or more tax-exempt organizations described

in section 501(c) of the Code ( other than section 501(c)(3)) or in section 527? Q Yes ^X No

b If 'Yes . ' comp lete the followin g schedule.

Schedule B(Form 990, 990-EZ,or 990-PF)Department of the Treasury

0%WSSchell le of ^Ailfwo^o g+vvuaU •YMLVI

Supplementary Information for

line 1 of Form 990, 990-EZ, and 990-PF (see instructions)

OMB No 1545-0047

2007Name of organization Employer identification number


Organization type (check one):

Filers of. Section:

Form 990 or 990-EZ 0 501 (c)( ) (enter number) organization

0 4947(a)(1) nonexempt charitable trust not treated as a private foundation

E] 527 political organization

Form 990-PF ® 501 (c)(3) exempt private foundation

0 4947(a)(1) nonexempt charitable trust treated as a private foundation

Q 501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule. (Note: Only a section 501(c)(7), (8), or (10) organization can check boxes

for both the General Rule and a Special Rule-see instructions.)

General Rule-

® For organizations filing Form 990, 990-EZ, or 990 -PF that received , during the year , $5,000 or more (in money or property) from any one

contributor. (Complete Parts I and II.)

Special Rules-

For a section 501 (c)(3) organization filing Form 990 , or Form 990- EZ, that met the 33 1/3% support test of the regulations under

sections 509(a)( 1)/170(b)(1)(A)(v), and received from any one contributor , during the year , a contribution of the greater of $5,000 or 2%

of the amount on line 1 of these forms. (Complete Parts I and II.)

El For a section 501(c)(7), (8), or ( 10) organization filing Form 990, or Form 990 • EZ, that received from any one contributor , during the year,

aggregate contributions or bequests of more than $1,000 for use exclusively for religious , charitable , scientific , literary , or educational

purposes , or the prevention of cruelty to children or animals . (Complete Parts I, II, and III.)

Q For a section 501 (c)(7), (8), or (10) organization filing Form 990, or Form 990-EZ, that received from any one contributor, during the year,

some contributions for use exclusively for religious, charitable, etc., purposes, but these contributions did not aggregate to more than

$1,000. (If this box is checked, enter here the total contributions that were received during the year for an exclusively religious,

charitable, etc., purpose. Do not complete any of the Parts unless the General Rule applies to this organization because it received

nonexclusively religious, charitable, etc., contributions of $5,000 or more during the year.) . .. .-- . 00. $

Caution: Organizations that are not covered by the General Rule and/or the Special Rules do not file Schedule B (Form 990, 990-EZ, or 990-PF), but

they must check the box in the heading of their Form 990, Form 990-Q, or on line 2 of their Form 990-PF, to certify that they do not meet the filing

requirements of Schedule B (Form 990, 990-¢, or 990-PF).

LHA For Paperwork Reduction Act Notice , see the Instructions Schedule B ( Form 990 , 990-EZ , or 990-PF) (2007)for Form 990, Form 990-EZ, and Form 990-PF.

723451 12-27-07


schedule B (Form 990, 990-EZ, or 990-PF7 (2007)

Name of organization


Page 1 or 5 yr Fist 1

Employer identification number

Part I Contributors (See Specific Instructions.)

(a)No.

(b)

Name , address, and ZIP + 4

(c)

Aggregate contributions

(d)

Type of contribution

1 ASIAN CULTURAL COUNCIL, INC Person

6 WEST 48TH STREET $ 9,500.

Payroll QNoncash 0

NEW YORK, NY 10036

(Complete Part II if thereis a noncash contnbution.)

(a)

No.

(b)

Name, address, and ZIP + 4

(c)


(d)


2 DONALD & SHELLEY RUBIN Person

122 EAST 70TH STREET $ 7,498,844.Payroll QNoncash

NEW YORK, NY 10021

(Complete Part II if thereis a noncash contribution.)

(a)

No.

(b)


(c)


(d)


3 JP MORGAN CHASE Person

270 PARK AVENUE $ 50,000,Payroll Q

Noncash 0

NEW YORK, NY 10 017(Complete Part II if thereis a noncash contribution.)

(a)

No.

(b)


(c)


(d)


4 LINDA SCHEJOLA Person

668 CUMBERLAND CIRCLE $ 1,000,000.Payroll QNoncash

ATLANTA, GA 3 0 3 0 6(Complete Part II if thereis a noncash contribution.)

(a)

No.

(b)


(c)


(d)


5 NEW YORK STATE COUNCIL ON THE ARTS Person If]

175 VARICK STREET $ 35,000,Payroll QNoncash

NEW YORK, NY 10 014(Complete Part II if thereis a noncash contnbution.)

(a)

No.

(b)


(c)


(d)


6 ROBERT BAYLIS Person

116 DELAFIELD IS. ROAD $ 15,492.Payroll QNoncash 0

DARIEN, CT 0 6 8 2 0(Complete Part II if thereis a noncash contribution.)

723452 12-27-07 Schedule B (Form 990 . 990-EZ. or 990-PFI 120071


Schedule B (Form 990, 990-EZ , or 990-PF) (2007) Page 2 of 5 of Part

Name of organization I Employer identification numberRUBIN MUSEUM OF ART A/K/A THE SHELLEY


(a)

No.

(b)


(c)


(d)


7 THE PENINSULA FOUNDATION Person Eil

410 WEST 59TH STREET $ 7,000.

Payroll QNoncash

NEW YORK, NY 10 019

(Complete Part II if thereis a noncash contribution)

(a)

No.

(b)


(c)


(d)


8 THE SHELLY AND DONALD RUBIN FOUNDATION Person

17 WEST 17TH STREET $ 70,800.Payroll 0Noncash

NEW YORK, NY 10 011

(Complete Part II if thereis a noncash contribution )

(a)

No.

(b)

Name, address , and ZIP + 4

(c)


(d)


9 AMERICAN CHAI FOUNDATION Person

41 MADISON AVENUE $ 5,000.Payroll QNoncash 0

NEW YORK, NY 10 010

(Complete Part II if thereis a noncash contribution )

(a)

No.

(b)


(c)


(d)


10 CHARLES AND MARY JANE BROCK Person Ek]

765 PARK AVENUE $ 5,000.

Payroll QNoncash 0

NEW YORK, NY 10021

(Complete Part 11 if thereis a noncash contnbution.)

(a)

No.

(b)


(c)


(d)


11 CHRISTOPHER STAMOS Person Ek]

450 PARK AVENUE $ 6,000,Payroll QNoncash 0

NEW YORK, NY 10022


(a)

No.

(b)


(c)


(d)


12 DAVID PRITCHARD & TINA PATTERSON Person Ef]

1434 SPRUCE STREET $ 14,000.

Payroll QNoncash 0

BOULDER, CO 8 0 3 0 2


723452 12-27-07 Schedule B (Form 990 . 990-EZ . or 990 -PF)(2007)


Schedule B (Form 990 , 990-EZ , or 990-PF) (2007)



Page 3 of 5 ..r o !


Payt I Contributors (See Specific Instructions)

(a)

No.

(b)


(c)


(d)


13E. RHODES AND LEONA B CARPENTERFOUNDATION Person

1735 MARKET STREET $ 75,000.

Payroll 0Noncash

PHILADELPHIA, PA 19103(Complete Part II if thereis a noncash contnbution.)

(a)

No.

(b)


(c)


(d)


14

HAROLD AND RUTH NEWMAN PHILANTHROPICFUND Person

77 BALDWIN FARMS SOUTH $ 5,000.Payroll QNoncash

GREENWICH, CT 06831(Complete Part II if thereis a noncash contnbution.)

(a)

No.

(b)


(c)


(d)


15 JEFF WIESENFELD Person FX1

80 BEACH ROAD $ 6,250.Payroll QNoncash 0

GREAT NECK, NY 11023(Complete Part II if thereis a noncash contribution.)

(a)

No.

(b)


(c)


(d)


16 JO JAGODA Person

7139 BROOKSHIRE CIRCLE $ 10,000.Payroll QNoncash 0

DALLAS, TX 7 5 2 3 0(Complete Part II if thereis a noncash contribution.)

(a)

No.

(b)


(c)


(d)


17 DEPARTMENT OF CULTURAL AFFAIRS Person FX1

31 CHAMBERS STREET $ 71,000,Payroll QNoncash 0

NEW YORK, NY 10007


(a)No.

(b)

Name, address, and ZIP + 4(c)

Aggregate contributions(d)


18 PHOTOFIND GALLERY, INC . Person

41 EAST 57TH STREET $ 5,000.Payroll Q

Noncash 0

NEW YORK, NY 10022


723452 12-27-07 Schedule B (Form 990. 990-EZ . or 990-PF1 12007)


Schedule B (Form 990, 990-EZ, or 990-PF) (2007)



Page 4 of 5 of Part



(a)

No.

(b)


(c)


(d)


19 ROBERT JAIN Person

102 PRINCE STREET $ 125,000.

Payroll QNoncash 0

NEW YORK, NY 10 012


(a)

No.

(b)


(c)


(d)


20STANLEY AND MARION BERGMAN FAMILYCHARITABLE FUND Person Eil

104 A MIDDLEVILLE ROAD $ 10,000.Payroll QNoncash 0

NORTHPORT, NY 11768


(a)

No.

(b)


(c)


(d)


21 THE BLAKEMORE FOUNDATION Person Ell

1201 THIRD AVENUE $ 10,000.Payroll

Noncash

SEATTLE, WA 98101


(a)

No.

(b)


(c)


(d)


22 THE COLEMAN COMPANY Person

PO BOX 2931 $ 13,500.Payroll Q

Noncash 0

WICHITA, KS 67201


(a)

No.

(b)


(c)


(d)


23 THE LODESTAR FOUNDATION Person E2j

4455 EAST CAMELBACK ROAD $ 10,000.Payroll

Noncash 0

PHOENIX, AZ 85018


(a)

No.

(b)


(c)


(d)


24 THE LUCE FOUNDATION Person

111 WEST 50TH STREET $ 150,000.

Payroll QNoncash

NEW YORK, NY 10020


723452 12-27-07 Schedule B (Form 990 990- EZ or 990 -PF) (20071


Schedule B (Form 990, 990-EZ , or 990-F



Page 5 ot 5 of Part I


Part I Contributors (See Specific Instructions)

(a)

No.

(b)

Name , address, and ZIP + 4

(c)


(d)


25 VINISH JAIN Person

165 CHARLES STREET $ 125,000.Payroll 0Noncash 0

NEW YORK, NY 10 014

(Complete Part II if thereis a noncash contnbution)

(a)

No.

(b)


(c)


(d)


Person El

$

Payroll Q

Noncash Q


(a)

No.

(b)


(c)


(d)


Person 0

$

Payroll 0

Noncash Q


(a)

No.

(b)


(c)


(d)


Person El

$

Payroll Q

Noncash Q

(Complete Part II if thereis a noncash contnbution)

(a)

No.

(b)


(c)


(d)


Person El

$

Payroll Q

Noncash Q


(a)

No.

(b)


(c)


(d)


Person El

$

Payroll Q

Noncash Q


723452 12-27-07 Schedule B (Form 990 . 990-EZ. or 990-PA 120071


2007 DEPRECIATION AND AMORTIZATION REPORT

FORM 990-PF PAGE 1 990-PF

AssetNo Description

DateAcquired Method Life

LineNo

UnadjustedCost Or Basis

Bus %Excl

Reduction InBasis

Basis ForDepreciation

AccumulatedDepreciation

CurrentSec 179

Current YearDeduction

1 AND - r VA R-I S 56504966. _ 5650496. 0.

2 AND-REAL ESTATE I S _ 378, 750 378 , 750. 0.

3 BUILDINGS- _ _ I S L 27.50 16- 3 '0382864-. 30382864. 2454835. 1008948.

- 4 _ UILDINGS-REAL_ ESATE VA RI ES -SL, .00-0, 16 2146250. 2146250. 0.

5 UILDING_IMPROVEMENTSl -

I S L-

27.50 16. 28126745. 28126745. 1991948. 900,138.BUILDING -

6 IMPROVEMENTS--REAL_-EST I S SL, .000 16 .'428,615. 428, 615. 0.

7 URNITURE & _ FIXTURES VARI ES S L 7.00 16 467,667. 467,667. 243,_290. _117,816.URNITURE &

8 FIXTURES-REAL ESTATE VA RI ES SL .000 16 11,019. 11,019. 0.

9 EQUIPMENT _ VA RI ES SL 3.00 16 849,828. 849,828. 271,415. 142,149.EQUIPMENT - CAPITAL

10 4EASE VA RI ES SL .000 16 405,895. 405,895. 0.* TOTAL 990-PF PG 1EPR 68848129. 0. 68848129. 4961488. 0. 2169051.

72810204-27 -07 (D) - Asset disposed * ITC, Section 179 , Salvage , Bonus , Commercial Revitalization Deduction, GO Zone

20

RUBIN MUSEUM OF ART A/K/A THE SHELLEY &

0.

FORM 990-PF GAIN OR (LOSS) FROM SALE OF ASSETS STATEMENT 1

(A) MANNER DATEDESCRIPTION OF PROPERTY ACQUIRED ACQUIRED DATE SOLD

SALE OF MUTUAL FUNDS

(B) (C)GROSS COST OR

SALES PRICE OTHER BASIS

42,752,552. 43,695,283.

(D) (E) (F)EXPENSE OF

SALE DEPREC. GAIN OR LOSS

0. 0. -942,731.

(A)DESCRIPTION OF PROPERTY

SALE OF COMMON STOCKS

(B)GROSS

SALES PRICE

5,020,190. 4,953,675.

CAPITAL GAINS DIVIDENDS FROM PART IV

MANNER DATEACQUIRED ACQUIRED DATE SOLD

PURCHASED VARIOUS VARIOUS

(D) (E) (F)EXPENSE OF

SALE DEPREC. GAIN OR LOSS

0. 66,515.

0.

TOTAL TO FORM 990-PF, PART I, LINE 6A -876,216.

FORM 990-PF INTEREST ON SAVINGS AND TEMPORARY CASH INVESTMENTS STATEMENT 2

SOURCE AMOUNT

INTEREST 4,023,814.

TOTAL TO FORM 990-PF, PART I, LINE 3, COLUMN A 4,023,814.

(C)COST OR

OTHER BASIS

21 STATEMENT(S) 1, 213581030 759420 226799567 2007.06050 RUBIN MUSEUM OF ART A/K/A T 22679951

RUIN MUSEUM OF ART A/K/A THE SHELLEY & 22-67995x7

FORM 990-PF DIVIDENDS AND INTEREST FROM SECURITIES STATEMENT 3

CAPITAL GAINS COLUMN (A)SOURCE GROSS AMOUNT DIVIDENDS AMOUNT

DIVIDENDS 1,867,383.

TOTAL TO FM 990-PF, PART I, LN 4 1,867,383.

0. 1,867,383.

0. 1,867,383.

FORM 990-PF RENTAL INCOME STATEMENT 4

KIND AND LOCATION OF PROPERTY

RENTAL INCOME-RESIDENTIAL APARTMENTS

TOTAL TO FORM 990-PF, PART I, LINE 5A

ACTIVITY GROSSNUMBER RENTAL INCOME

1 612,586.

612,586.


RUBIN MUSEUM OF ART A/K/A THE SHELLEY & 22-6799567

FORM 990-PF INCOME AND COST OF GOODS SOLD STATEMENT 5INCLUDED ON PART I, LINE 10

INCOME

1. GROSS RECEIPTS . . . . . . . . . . . . . . .2. RETURNS AND ALLOWANCES . . . . . . . . . . .3. LINE 1 LESS LINE 2 . . . . . . . . . . . . .

4. COST OF GOODS SOLD (LINE 15) . . . . . . . .5. GROSS PROFIT (LINE 3 LESS LINE 4). . . . . .

6. OTHER INCOME . . . . . . . . . . . . . . . .

7. GROSS INCOME (ADD LINES 5 AND 6) . . . . . .

COST OF GOODS SOLD

8. INVENTORY AT BEGINNING OF YEAR . . . . . . .9. MERCHANDISE PURCHASED. . . . . . . . . . . .

10. COST OF LABOR . . . . . . . . . . . . . . . .11. MATERIALS AND SUPPLIES . . . . . . . . . . .12. OTHER COSTS. . . . . . . . . . . . . . . . .13. ADD LINES 8 THROUGH 12 . . . . . . . . . . .

14. INVENTORY AT END OF YEAR . . . . . . . . . .15. COST OF GOODS SOLD (LINE 13 LESS LINE 14). . 368,664

771,607

771,607

368,664402,943

402,943

330,54538,119

368,664

23 STATEMENT(S) 513581030 759420 226799567 2007.06050 RUBIN MUSEUM OF ART A/K/A T 22679951


(B)

FORM 990-PF OTHER INCOME STATEMENT 6

DESCRIPTION

MUSEUM ADMISSION FEESPROGRAM FEESOTHER INCOMEMUSEUM FACILITY RENT INCOMEMEMBERSHIP DUES AND ASSESSMENTS

TOTAL TO FORM 990-PF, PART I, LINE 11

(A)REVENUE

PER BOOKS

220,718.182,960.90,862.

249,941.398,951.

1,143,432.

NET INVEST-MENT INCOME

0.0.0.0.0.

22-67995.67

(C)ADJUSTED

NET INCOME

220,718.182,960.90,862.

249,941.398,951.

0. 1,143,432.

FORM 990-PF LEGAL FEES STATEMENT 7

(A) (B) (C) (D)EXPENSES NET INVEST- ADJUSTED CHARITABLE

DESCRIPTION PER BOOKS MENT INCOME NET INCOME PURPOSES

LEGAL

TO FM 990-PF , PG 1, LN 16A

20,911.

20,911.

0. 2,726.

0. 2,726.

24,051.

24,051.

FORM 990-PF ACCOUNTING FEES STATEMENT 8

DESCRIPTION

ACCOUNTING

TO FORM 990-PF, PG 1, LN 16B

(A) (B)EXPENSES NET INVEST-PER BOOKS MENT INCOME

47,135. 0.

47,135.

(C)ADJUSTED

NET INCOME

6,144.

6,144.0.

(D)CHARITABLEPURPOSES

89,818.

89,818.

24 STATEMENT(S) 6, 7, 813581030 759420 226799567 2007.06050 RUBIN MUSEUM OF ART A/K/A T 22679951


39,982.101,954.

FORM 990-PF OTHER PROFESSIONAL FEES STATEMENT 9

DESCRIPTION

OTHER PROFESSIONAL FEESINVESTMENT MANAGEMENT FEES

TO FORM 990-PF , PG 1, LN 16C

(A) (B)EXPENSES NET INVEST-PER BOOKS MENT INCOME

666,896. 43,366.144,461. 144,461.

811,357. 187,827.

(C)ADJUSTED

NET INCOME

124,640.144,461.

269,101.

22-57995.67


464,828.0.

464,828.

FORM 990-PF TAXES STATEMENT 10

DESCRIPTION

PAYROLL TAXESREAL ESTATE TAXES

TO FORM 990-PF, PG 1, LN 18

(A) (B) (C)EXPENSES NET INVEST- ADJUSTEDPER BOOKS MENT INCOME NET INCOME

306,739.137,323.

444,062.

0.96,653.

96,653.


270,237.0.

141,936. 270,237.

FORM 990-PF OTHER EXPENSES STATEMENT 11

DESCRIPTION

INSURANCEADVERTISING AND PROMOTIONSMATERIALS AND SUPPLIESBUILDING SERVICESTELECOMMUNICATIONSPUBLICATIONS, SUBSCRIPTIONS,AND DUESCONTRACT LABOREQUIPMENT RENTALPOSTAGE AND SHIPPINGPROGRAM AND SUPPORTINGSERVICESMISCELLANEOUSARTWORK

TO FORM 990-PF, PG 1, LN 23

(A) (B) (C)EXPENSES NET INVEST- ADJUSTEDPER BOOKS MENT INCOME NET INCOME

200,146. 24,093. 47,041.592,193. 0. 77,189.179,355. 2,569. 25,612.163,230. 68,581. 80,918.65,901. 2,115. 10,429.

35,968. 0. 4,688.1,094,525. 50,898. 186,929.

247,850. 1,696. 33,781.232,673. 0. 30,328.

722,546. 0. 94,180.2,290. 29. 322.

2,069,900. 0. 0.

5,606,577. 149,981. 591,417.


95,610.402,886.192,363.69,937.56,220.

33,691.862,563.186,971.259,760.

587,268.0.0.

2,747,269.


RUBIN MUSEUM OF ART A/K/A THE SHELLEY & 22-67995.67

FORM 990-PF OTHER INCREASES IN NET ASSETS OR FUND BALANCES STATEMENT 12

DESCRIPTION AMOUNT

CHANGE IN CARRYING VALUE OF ARTWORK 2,069,900.

TOTAL TO FORM 990-PF , PART III , LINE 3 2 , 069,900.

FORM 990-PF OTHER DECREASES IN NET ASSETS OR FUND BALANCES STATEMENT 13

DESCRIPTION AMOUNT

UNREALIZED LOSS ON INVESTMENTS IN MARKETABLE SECURITIES 72,614.

TOTAL TO FORM 990-PF, PART III, LINE 5 72,614.

FORM 990-PF U.S. AND STATE /CITY GOVERNMENT OBLIGATIONS STATEMENT 14

U.S. OTHER FAIR MARKETDESCRIPTION GOV'T GOV'T BOOK VALUE VALUE

GOVERNMENT BONDS X 1 , 408,023. 1 , 408,023.

TOTAL U.S. GOVERNMENT OBLIGATIONS 1,408 , 023. 1,408,023.

TOTAL STATE AND MUNICIPAL GOVERNMENT OBLIGATIONS

TOTAL TO FORM 990-PF , PART II , LINE 10A 1,408,023. 1,408,023.

FORM 990-PF OTHER INVESTMENTS STATEMENT 15

DESCRIPTION

MUTUAL FUNDSUNINVESTED CASHMONEY MARKET FUNDS AND AUCTIONINSTRUMENTS2ERTIFICATES OF DEPOSITSAM TOTAL COMMODITY RETURN, LTDBERNSTEIN GLOBAL DIVERSIFIED)FFSHORE HEDGEFUND, LTD3ERNSTEIN GLOBAL OPPORTUNITIESOFFSHORE HEDGEFUND, LTD

VALUATION FAIR MARKETMETHOD BOOK VALUE VALUE

FMV 70,574,561. 70,574,561.FMV 575, 888. 575,888.FMV

1,679. 1,679.FMV 192,272. 192,272.FMV 1,139,062. 1,139,062.FMV

3,754,159. 3,754,159.FMV

4,988 , 996. 4,988,996.

26 STATEMENT(S) 12, 13, 14, 15L3581030 759420 226799567 2007.06050 RUBIN MUSEUM OF ART A/K/A T 22679951


SKYBRIDGE CAPITAL LTD CLASS I FMVSERIES 1EQUITIES FMVHEDGE FUND - AV FMV

TOTAL TO FORM 990-PF, PART II, LINE 13 89,827,218. 89,827,218.

FORM 990-PF DEPRECIATION OF ASSETS NOT HELD FOR INVESTMENT STATEMENT 16

DESCRIPTION

LANDLAND-REAL ESTATEBUILDINGSBUILDINGS-REAL ESATEBUILDING IMPROVEMENTSBUILDING IMPROVEMENTS-REALESTATEFURNITURE & FIXTURESFURNITURE & FIXTURES-REALESTATEEQUIPMENTEQUIPMENT - CAPITAL LEASE

TOTAL TO FM 990-PF, PART II, LN 14

COST OR ACCUMULATEDOTHER BASIS DEPRECIATION

5,650,496. 0.378,750. 0.

30,382,864. 3,463,783.2,146,250. 0.

28,126,745. 2,892,086.

428,615. 0.467,667. 361,106.

11,019. 0.849,828. 413,564.405,895. 0.

68,848 ,129. 7,130,539.

FORM 990-PF OTHER ASSETS STATEMENT 17

DESCRIPTION

ARTWORKDEFERRED TAX ASSET

TO FORM 990-PF, PART II, LINE 15

BEGINNING OF END OF YEARYR BOOK VALUE BOOK VALUE

25,043 ,203. 27,113,103.29,678. 29,678.

987,921.4,937,557.2,675,123.

22-5799567

987,921.4,937,557.2,675,123.

BOOK VALUE

5,650,496.378,750.

26,919,081.2,146,250.

25,234,659.

428,615.106,561.

11,019.436,264.405,895.

61,717,590.

FAIR MARKETVALUE

27,113,103.29,678.

25,072,881. 27,142,781. 27,142,781.


RUIN MUSEUM OF ART A/K/A THE SHELLEY & 22-6799567

FORM 990 - PF OTHER LIABILITIES STATEMENT 18

DESCRIPTION BOY AMOUNT EOY AMOUNT

CAPITAL LEASE PAYABLE 33,825. 0.SECURITY DEPOSITS 53,723. 58,938.

TOTAL TO FORM 990-PF, PART II, LINE 22 87,548. 58,938.

FORM 990-PF PART VIII - LIST OF OFFICERS, DIRECTORS STATEMENT 19TRUSTEES AND FOUNDATION MANAGERS

NAME AND ADDRESS

DONALD RUBIN150 WEST 17TH STREETNEW YORK, NY 10011

SHELLEY RUBIN150 WEST 17TH STREETNEW YORK, NY 10011

REV. JAMES P. MORTON150 WEST 17TH STREETNEW YORK, NY 10011

ROBERT BAYLIS150 WEST 17TH STREETNEW YORK, NY 10011

CHARLES BERGMAN150 WEST 17TH STREETNEW YORK, NY 10011

STEPHEN SPAHN150 WEST 17TH STREETNEW YORK, NY 10011

STEPHEN STEINBRECHER150 WEST 17TH STREETNEW YORK, NY 10011

PETER HUTCHINGS150 WEST 17TH STREETNEW YORK, NY 10011

TITLE ANDAVRG HRS/WK

CO-CHAIR1.00

CO-CHAIR1.00

TREASURER1.00

TRUSTEE1.00

TRUSTEE1.00

TRUSTEE1.00

TRUSTEE1.00

TRUSTEE1.00

EMPLOYEECOMPEN- BEN PLAN EXPENSESATION CONTRIB ACCOUNT

0. 0. 0.

0. 0. 0.

0. 0. 0.

0. 0. 0.

0. 0. 0.

0. 0. 0.

0. 0. 0.

0. 0. 0.


RUBIN MUSEUM OF ART A/K/A THE SHELLEY & 22-67995.67

MARY LANIER TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

DANIEL SCHWARTZ TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

MARK NORELL TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

OMAR AMANAT TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

EVA HALLER TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

WILLIAM LUERS TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

MARILENA CHRISTODOULOU CHIEF FINANCIAL OFFICER150 WEST 17TH STREET 40.00 155,000. 14,161. 0.NEW YORK, NY 10011

PATRICK SEARS CHIEF OPERATING OFFICER150 WEST 17TH STREET 40.00 158,765. 2,585. 0.NEW YORK, NY 10011

ROBERT JAIN TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

RAVI AKHOURI TRUSTEE150 WEST 17TH STREET 1.00 0. 0. 0.NEW YORK, NY 10011

TOTALS INCLUDED ON 990-PF, PAGE 6, PART VIII 313,765. 16,746. 0.


RUBIN MUSEUM OF ART A/K/A THE SHELLEY & 22-6799567

FORM 990-PF PART XV - LINE 1A STATEMENT 20LIST OF FOUNDATION MANAGERS

NAME OF MANAGER

DONALD RUBINSHELLEY RUBIN


STATEMENT OF ACHIEVEMENTS

Period : January 1, 2007 to December 31, 2007

The Rubin Museum of Art (RMA) educates visitors about the art and culture of the Himalayas and thesurrounding regions and promotes intercultural understanding of the universal human experience throughexhibitions and public programs. RMA aims to achieve its mission in many ways and, since opening in2004, has responded to the learning needs of the public by evaluating initiatives and organizing andimplementing its exhibitions, programs, and events, to be accessible to a diverse audience.

COLLECTION AND EXHIBITIONS AT RMA

The Museum' s collection consists of over 2,000 objects and includes paintings, sculpture, textiles, ritualobjects, and prints, spanning a period from the 2nd century to the 20th century.

In the period of January 1 , 2007-December 31, 2007, the following exhibitions were viewed by nearly150,000 visitors to the Museum:

ISee No Stranger: Early Sikh Art andDevotionSeptember 15, 2006-January 29, 2007The exhibition compnsed 100 works from the 16`h to the 19`h century including paintings, drawings,textiles, metalwork, and photographs that identify core Sikh beliefs and explore the plurality of Sikhcultural traditions.

Building the Collection: Acquisitions 2005-2006October 13, 2006 - February 9, 2007RMA's dedication to building its collection in all areas of Himalayan art was evident in this exhibition offorty-five objects from India, Nepal, Tibet, Bhutan, Mongolia and China.

Mongolia: Beyond Chinggis KhanNovember 3, 2006 - April 16, 2007This exhibition celebrated the 800`h anniversary of the founding of the Mongol Empire with selectionsfrom RMA's collection, complemented by photographs by Builder Levy and Elaine Ling. Highlightingthe exhibition was a recently acquired sculpture of the Six-Armed Mahakala, a special object ofveneration in Mongolia since the 13`h century.

Humanitas II: Photographs by Frederick RobertsSeptember 29, 2006 - February 26, 2007This sampling of photographs by a contemporary photographer revealed the artist's interest in discoveringthe universal in the particular, the individual humanity within the group identity, and the dignity of anencounter between people.

Take to the Sky: Flying Mystics in Himalayan ArtMarch 31, 2006 - February 12, 2007Paintings and sculptures in this exhibition explored the theme of flying as a spiritual power.

The Missing Peace: Artists Consider the Dalai LamaMarch 16 - September 3, 2007Eighty artists from around the world participated in this diverse representation, in a variety of mediums,of how they perceive the Dalai Lama.

Illumination : Photographs by Lynn Davis

STATEMENT A

April 6 - July 16, 2007The American photographer, Lynn Davis, explores the world in search of the greatest universal sites, bothman-made and natural. This exhibition presented the results in large-scale black and white photographs.

Wutaishan: Pilgrimage to Five Peak MountainMay 10 - October 16, 2007The works in this exhibition related to the sacred mountain Wutaishin (Mount Wutai), located in ShanxiProvince of China, which is believed to be the earthly abode of the Bodhisattva of Wisdom, Manjushn,and for a thousand years has been the focus of pilgrimages for Chinese, Tibetans, Mongols, and Manchus.

Big! Himalayan ArtAugust 17, 2007 - March 17, 2008This exhibition presented the largest objects from RMA's collection and explored the reasons for creatingthe even larger tangkas (Tibetan scroll paintings and textiles) that are majestically draped overmountainsides and valleys.

What is It? Himalayan ArtOngoingAn orientation to the subject of Himalayan art, the exhibition is organized into four sections: Where is ItMade? Why is It Made? How is It Made9 And What is Going On?

Written on the Wind: The Flag ProjectSeptember 14, 2007 - February 11, 2008The works of 123 contemporary artists, created to be reproduced as prayer flags celebrating the openingof the Rubin Museum of Art in 2004, were exhibited in their original form or through digital presentation.

Bon: The Magic WordOctober 5, 2007 - January 14, 2008This was the first exhibition to illuminate the art, culture, and spiritual tradition of Bon, an ancientreligious and cultural system of the Himalayas and Central Asia that is virtually unknown in the Westernworld. Bon predates the spread of Buddhism from India to the Tibetan Plateau. The exhibition featuredpaintings, sculptures, and ritual objects with Bon's distinct aesthetics and archetypes

Bhutan: The Sacred Within: Photographs byKenro IzuNovember 2, 2007 - February 4, 2008

The third in a trilogy of works related to sacred landscapes by Izu focused on the places and people ofBhutan in large-scale, hand-printed platinum prints.

In addition to exhibitions presented in New York, several exhibitions traveled to other venues in the US.

EDUCATION AND OUTREACH AT RMAThe RMA Education Department provides programming that challenges visitors to make connectionsbetween their lives, the world, and works of art. Offered at RMA, in New York City schools, and on theweb, education and outreach programs provide people of all ages and backgrounds with opportunities tofind enjoyment, relevance, and meaning in RMA's collection and exhibitions. RMA's education andoutreach programs for the stated period included:

RMA TeensHigh school students throughout New York City were invited to participate in a year-long programdesigned to enhance their knowledge of the arts and cultures of the Himalayas and surrounding regions

2 STATEMENT A

through workshops and discussion groups with Museum staff and guest presenters and field trips to other

cultural institutions.

Faintly ProgramsPerformances, tours, and hands-on art projects encourage children of all ages and their adult fnends toexplore creativity and imagination through a variety of Himalayan art forms Family activities are held inthe Museum's theater or classroom every Saturday and have served over 800 participants through regularprogramming and special Family Days.

Thinking Through ArtAt P.S. 134 and Liberty High School Academy for Newcomers, at The East West School for InternationalStudies, and at Rikers Island Academy, RMA arts educators employ a curriculum of studying art fromAsian cultures and time periods in increasing complexity followed by developmentally based questionsand facilitated group discussions. The program provides hands-on, active learning opportunities thatincrease arts and culture awareness and visual, written, and oral communication skills.

ExploreArt comWith major support from the National Endowment for Humanities, RMA launched ExploreArt, a websitethat explores a broad range of humanities-based themes through direct contact with art, imagery,literature, and primary source materials of the Himalayas and other traditions and cultures.

PROGRAMMING AT RMA

Public programming at RMA has furthered the Museum's ability to reach out to the community andengage interest in Himalayan art and culture. Since its opening, RMA has offered over 1,500 creative andinformative programs to the public. Among them are:

Cabaret Cinema. Saturday evenings featured Cabaret Cinema where patrons enjoy beverages and samplea wide and tasty range of food while viewing films that are connected to current exhibitions.

Spiral Musics Acoustic performances provide cultural awareness and take place under the spiral staircaseall day every Saturday and Sunday free of charge. Famous performers from Africa, Spain, the near East,Pakistan, Tuva in Mongolia, and Japan offer diverse styles, traditions, and influences. Performers includeMasayo Ishigure, Ikhlaq Hussain, Lisa Spraragen and Josue Perez, Gary Lucas, and

Guided Tours: RMA offers complimentary guided tours throughout the galleries for a unique journey intoHimalayan art, with new perspectives every week that aim to increase cultural awareness and fosterartistic interest.

Talks and Workshops: Talks and workshops regarding exhibitions and relevant cultural topics areprovided by curators and cultural professionals on a weekly basis. 2007 highlights included Holidaysthe Himalayas, Festival ofIndia, Peak Experience: The Ultimate Sleepover, Mongolian New Year, and adiverse offering of Family Workshops. The 52 Lunch Matters talks covered "Storm from the East" theBBC series tracing the history of the Mongol Empire.

Performances: Poetry, music , dancing , and creative performances advance the understanding ofHimalayan culture and include widely recognized artists of diverse backgrounds and the utmost aestheticpurity, creativity, and style. The Concerts ofImpermanence and Harlem the Himalayas series, inassociation with the National Jazz Museum Harlem were of particular note in 2007.

TOTAL PROGRAM EXPENSES $8,165,453

3 STATEMENT A

a .' -1

Form 8868 (Rev 4-2008) Page 2

• If you are filing for an Additional (Not Automatic ) 3-Month Extension , complete only Part II and check this box ► L2LJ

Note . Only, complete Part II if you have already been granted an automatic 3-month extension on a previously filed Form 8868.

• If you're, filing for an Automatic 3-Month Extension , complete only Part I (on page 1)

Part II . Additional (Not Automatic) 3-Month Extension of Time . You must file original and one copy .

Type orName of Exempt Organization Employer identification number

UBIN MUSEUM OF ART A/K/A THE SHELLEYprint

DONALD RUBIN CULTURAL TRUST 22-6799567File by the

extended Number, street, and room or suite no. If a P.O box, see instructions. For IRS use onlydue date for 150 WEST 17TH STREETfiling thereturn see City, town or post office, state, and ZIP code For a foreign address, see instructions.instructions

LEW YORK , NY 10 011Check type of return to be filed (File a separate application for each return):

Q Form 990 0 Form 990-EZ Form 990-T (sec. 401(a) or 408 (a) trust) = Form 1041-A 0 Form 5227 Form 8870

Q Form 990-BL ® Form 990-PF Q Form 990-T (trust other than above) = Form 4720 Form 6069

STOP! Do not complete Part II if you were not already granted an automatic 3-month extension on a previously filed Form 8868.

• The books are in the care of ► MARILENA CHRI STODOULOUTelephone No. ► (212 ) 620-5000 FAX No. ►

• If the organization does not have an office or place of business in the United States , check this box ► Q• If this is for a Group Return , enter the organization 's four digit Group Exemption Number (GEN) . If this is for the whole group , check this

box ► E:J . If it is for part of the group , check this box ► and attach a list with the names and EINs of all members the extension is for.

4 I request an additional 3-month extension of time until NOVEMBER 15, 2008 .

5 For calendar year 2 0 0 7 , or other tax year beginning , and ending

6 If this tax year is for less than 12 months, check reason Q Initial return F]Final return 0 Change in accounting penod

7 State in detail why you need the extension

ADDITIONAL TIME IS NEEDED TO COMPILE THE INFORMATION

8a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any

b If this application is for Form 990-PF, 990-T, 4720, or 6069, enter any refundable credits and estimated

tax payments made . Include any pnor year overpayment allowed as a credit and any amount paid

c Balance Due. Subtract line 8b from line 8a. Include your payment with this form, or, if required, deposit

0.

Signature and VerificationUnder penalties of perjury, I declare that I have examined this form, including accompanying schedules and statements , and to the best of my knowledge and belief,it is true , correct, and complete , and that I am authorized to prepare this form.

Signature * FAJtM141, Title ► CPA Date ► d II If1P

Form 8868 (Rev. 4-2008)

LUTZ AND CARR, CPA'S LLP

300 EAST 42ND STREET - 8TH FLOOR

O4-72 383204-1"8 NEW YORK, NY 10017

Form Q86a I Application for Extension of Time To File an(Rev. Ap ril 2008) - Exempt Organization Return OMB No. 1545-1709Department of the TreasuryInternal Revenue Service ► File a separate application for each return.

• If you are filing for an Automatic 3-Month Extension , complete only Part I and check this box - - - - - - - ►• If you are filing for an Additional (Not Automatic ) 3-Month Extension , complete only Part II (on page 2 of this form).

Do not complete Part II unless you have already been granted an automatic 3-month extension on a previously filed Form 8868.

Part I Automatic 3-Month Extension of Time. Only submit original (no copies needed).

A corporation required to file Form 990-T and requesting an automatic 6-month extension - check this box and complete

Part I only ► Q

All other corporations (including 1120-C filers), partnerships, REMICs, and trusts must use Form 7004 to request an extension of timeto file income tax returns.

Electronic Filing (e-file). Generally, you can electronically file Form 8868 if you want a 3-month automatic extension of time to file one of the returnsnoted below (6 months for a corporation required to file Form 990-T). However, you cannot file Form 8868 electronically if (1) you want the additional(not automatic) 3-month extension or (2) you file Forms 990-BL, 6069, or 8870, group returns, or a composite or consolidated Form 990-T. Instead,you must submit the fully completed and signed page 2 (Part II) of Form 8868. For more details on the electronic filing of this form, visitwww frs ovleffle and click on e-file for Chanties & Nonprofits.

Type or Name of Exempt Organization Employer identification number

print RUBIN MUSEUM OF ART A/K/A THE SHELLEY

Fie by the& DONALD RUBIN CULTURAL TRUST 22-6799567

due date for Number, street, and room or suite no . If a P.O. box, see instructions.filing your 150 WEST 17TH STREETreturn Seeinstructions City, town or post office, state, and ZIP code. For a foreign address, see instructions.

NEW YORK , NY 10011

Check type of return to be filed (file a separate application for each return):

Q Form 990 0 Form 990-T (corporation) Q Form 4720

Form 990-BL Form 990-T (sec. 401(a) or 408(a) trust) 0 Form 5227

Q Form 990-EZ 0 Form 990-T (trust other than above) Form 6069

® Form 990-PF Q Form 1041-A 0 Form 8870

• The books are in the care of ► MARILENA CHRISTODOULOUTelephone (212) 620-5 000 FAX

• If the organization does not have an office or place of business in the United States, check this box ► Q• If this is for a Group Return, enter the organization's four digit Group Exemption Number (GEN) If this is for the whole group , check this

box ► = . If it is for part of the group , check this box ►0 and attach a list with the names and EINs of all members the extension will cover.

1 I request an automatic 3-month (6-months for a corporation required to file Form 990-T) extension of time until

AUGUST 15, 2008 , to file the exempt organization return for the organization named above. The extension

is for the organization's return for.

calendar year 2007 or►Q tax year beginning , and ending

2 If this tax year is for less than 12 months , check reason : 0 Initial return Q Final return F-1 Change in accounting period

3a If this application is for Form 990-BL, 990-PF, 990-T, 4720, or 6069, enter the tentative tax, less any

nonrefundable credits. See Instructions. 3a 0.b If this application is for Form 990-PF or 990-T, enter any refundable credits and estimated

tax payments made. Include any nor year overpayment allowed as a credit. 3b 0.

c Balance Due. Subtract line 3b from line 3a. Include your payment with this form, or, if required,

deposit with FTD coupon or, If required, by using EFTPS (Electronic Federal Tax Payment System).

See instructions 3c 0.

Caution. If you are going to make an electronic fund withdrawal with this Form 8868, see Form 8453-EO and Form 8879-EO for payment instructions.

LHA For Privacy Act and Paperwork Reduction Act Notice , see Instructions . Form 8868 (Rev. 4-2008)

72383104-18-08

1?^ %goo. private foundation treatedasaprivate...

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