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TWO-THOUSAND SEVEN ANNUAL REPORT


Laura Riley Interim Executive Director

C.J. “Pete” Silas Chairman


Report from the Chairman and the Interim Executive Director

This past year found Price Tower Arts Center at a unique point in its journey as an organization. During the transition between leaders, we were reaching outward while simultaneously looking inward. On the one hand, the Arts Center was launched into the national spotlight with the announcement in April that the Price Tower had been designated Oklahoma’s twentieth National Historic Landmark. While we gloried in the limelight of the moment, simultaneously we gazed inward in the wake of Executive Director Richard Townsend’s departure. It was a time to look at our past successes, review our current initiatives, and determine what actions we might take to position ourselves for the future. We benefitted greatly from the loyalty of our donors. We also worked hard to build our partnerships with institutions that share our mission, vision, values and audience.

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LANDMARK STATUS Following a year long endeavor, the U.S. Department of the Interior awarded the designation of National Historic Landmark to the Price Tower on April 4, 2007. Congress created the National Historic Landmark program to designate buildings and sites that tell an important part of the story of United States history and culture. The landmark review process is monitored by the National Park System Advisory Board before the designation is made by the Secretary of the Interior. Today, fewer than 2,500 landmarks bear this distinction, including twenty-four other Wright-designed properties. For us, the honor is a two-way street. We are proud that our efforts to save this important structure have been recognized by the United States government. But the designation further underscores the importance of our preservation mission to a wider constituency. It is incumbent upon us to continue broadening financial support for Price Tower Arts Center so that adequate, long-term resources will be available when needed for investment in maintenance and preservation of the Price Tower.

STRATEGIC PARTNERS In many ways, strong organizations are fostered by

Hrdy. Many of the works included in these two

strong partnerships between groups that share

exhibitions are in the permanent collection of the

values and constituents. 2007 saw the Arts Center

university. The idea of the joint venture originated

collaborating with a number of partners to produce

when Eric M. Lee, former director at Fred Jones Jr.

its programs and exhibitions, most notably the

Museum of Art and Richard Townsend, former

University of Oklahoma. In March, the School of

director of Price Tower Arts Center, got their heads

Architecture, OU, provided support for the inaugural

together in 2005 to find ways in which the

lecture in the Arts Center’s Architecture Study Center

collections, educational programming and staff

Distinguished Lecturer Series. Noted architecture

resources of each institution could be combined.

critic Paul Goldberger traveled to Oklahoma to

Though both directors eventually departed their

conduct lectures in Bartlesville and Norman and a

posts prior to the completion of these projects, their

master class and reception at Norman. Please see

staff members successfully carried out the vision.

page 4 to read more about the Architecture Study

We particularly want to thank interim director Gail

Center. Further collaborative efforts with OU

Kana Anderson and the staff of the Fred Jones, Jr.

included the co-organization with The Fred Jones, Jr.

Museum for their efforts to make the collaboration

Museum of Art of the exhibitions Out of Oklahoma:

such a success. You may read more about these

Contemporary Artists from Ruscha to Andoe and

exhibitions on page 7.

Oklahoma Moderne: The Art and Design of Olinka


Price Tower Opening Day

9th Floor of the Price Tower Showcasing the Interior

Photo by Joe Price, PTAC 2003.16.214

Photo by Joe Price, c. 1955, PTAC 2003.16

TRANSITION It is well documented that periods of leadership transition can be stressful for any organization. The Arts Center experienced some of this stress, most notably reflected in a 10 percent decline in attendance at exhibitions. However, transition can also lead to opportunities for positive change. During this time period between executive directors we focused on listening to the suggestions and concerns of the Arts Center’s many constituents. Our goal was to find ways to align our program offerings with the audience needs. This search for feedback took the form of member surveys, focus groups, education advisory councils, interpretative planning sessions, and old-fashioned listening. We also spent time in affirming our core mission during a facilitated board retreat in the fall of 2007. The leadership group emerged with a strong commitment to the preservation and interpretation of the Frank Lloyd Wright historic structure as our primary mission. We began seeking multiple ways for visitors to “experience the building” that will go beyond tower tours and art exhibitions. Lessons learned from these exercises inform the crafting of new programs for 2008. We are very excited about our upcoming programmatic offerings here at Price Tower Arts Center. We invite you to visit us on-line or in person to witness firsthand the next stage in our transformational journey.

Laura Riley Interim Executive Director

CJ “Pete” Silas Chairman

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Architecture Study Center It has long been a dream of our founders that the Price Tower would become a place “for the study of art, architecture and ideas,” to quote founding member, Robbie Morris. That dream became reality in 2007 with the inaugural year of the Architecture Study Center Distinguished Lecturer series. With a stated mission to bring to Oklahoma some of the brightest thinkers in the world of architecture, the Architecture Study Center programming was launched last March. Noted architecture critic for The New Yorker magazine, Paul Goldberger, gave the inaugural lecture in Bartlesville, with a repeat performance at the School of Architecture, The University of Oklahoma, Norman.

The lecture series serves to complement the Architecture Study Center itself, from which the archives and collections of the Arts Center are made available to the public. These include Frank Lloyd Wright drawings and original correspondence related to the Price Tower. The Arts Center is also second only to the Art Institute of Chicago as the repository of architect Bruce Goff’s works. This past summer, three interns devoted up to 250 hours each to photograph and catalog the archives, so that they are made ready for future researchers. Work on the archives will continue in 2008, with three internships made available to college undergraduate and graduate students. The ultimate goal is to launch a web-based, searchable database of the Arts Center’s collections including archives, so that scholars around the world will have access to the collection catalog.


“…we believe our greatest places are still to be made and our greatest times are still to come.” – Paul Goldberger, 2007

Photo by Alex Goldberger

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2007 Exhibitions Raymond Loewy

Designs for a Consumer Culture January 12 to March 4, 2007 Raymond Loewy (1893-1986) was among the most prominent industrial designers during the twentieth century. Spending over five decades streamlining and modernizing silverware and fountain pens, supermarkets and department stores, automobiles and airplanes, Loewy designed the color scheme and logo for Air Force One, the John F. Kennedy memorial stamp, the Greyhound Scenicruiser, and the interiors for NASA’s Skylab. Clients included Coco-Cola, Exxon, Lucky Strike, Frigidaire and for Studebaker the 1963 Avanti. Organized by the Hagley Museum and Library and toured by ExhibitsUSA. Made possible by a generous grant from the National Endowment for the Arts. Curated by Glenn Porter, Director Emeritus; Lynn Catanese, Head of Manuscripts and Archives; and Jim Hinz, former Library Conservator, all of the Hagley Museum and Library in Wilmington, Delaware. This showing made possible in part by ConocoPhillips, Doenges Toyota Ford Lincoln Mercury, the National Endowment for the Arts and the Oklahoma Arts Council.

Above - Broil-Quick Super Chef broiler-rotisserie, 1954, collection of the Hagley Museum and Library

Above - Koizumi Kishio, Yamashita Entrance at Ueno Park, 1931, The Wolfsonian - Florida International University, Miami Beach, The Mitchell Wolfson Jr. Collection

Tokyo: The Imperial Capital March 16 to May 13, 2007 This exhibition presented Koizumi Kishio’s woodblock prints that captured the drama of Tokyo’s rebirth after the 1923 earthquake that devastated the city. The prints document the vigorous rebuilding campaign that restored Tokyo and transformed it into Japan’s imperial capital. Koizumi Kishio (1893-1945) was one of a group of woodblock print artists whose works depicted Tokyo’s rebirth as the city embraced modernity while maintaining traditions, and became the site of ultimately disastrous political policies. The images produced by Koizumi are an assemblage of impressive views—from modern facilities such as Haneda airport to nostalgic renderings of revered ancient temples. Organized by The Wolfsonian Florida International University, Miami Beach, Florida, and made possible by the generous support of Fredric A. and Jean S. Sharf. This showing made possible in part by ConocoPhillips, the National Endowment for the Arts and the Oklahoma Arts Council.


Far Left - Edward Ruscha, Black Hollywood, (detail), 1984, collection of Sandy and Harold Price Left - Joe Andoe, Untitled (Horse Head, Red Tint), 1994, Fred Jones Jr. Museum of Art, The University of Oklahoma, Norman

Out of Oklahoma

Contemporary Artists from Ruscha to Andoe May 25 to September 16, 2007 Celebrating the Oklahoma State Centennial as an official Centennial event, this exhibition examined trends in painting from 1960 to the present day demonstrating crucial roles that artists born in or trained in Oklahoma have had on the national art scene. Major figures such as Ed Ruscha, Joe Goode, Joe Brainard, Larry Clark, David Salle, Joe Andoe, Carolyn Brady, Harold Stevenson, Leon Polk Smith, and Lee Mullican are represented. The show comprised over forty paintings, sculptures, photographs and works on paper from major Oklahoma, New York and California collections – private and public. Co-organized by Price Tower Arts Center and the Fred Jones Jr. Museum of Art, The University of Oklahoma, this showing was made possible in part by the Silas Foundation, Patricia and Joel Romines, Sandy and Harold Price, Julie and Charlie Daniels, Robbie and Tom Morris, Dr. Eric Sherburn and Leigh Ann Moss, Martha Burger, OU Alumni of Washington Co., the National Endowment for the Arts and the Oklahoma Arts Council. Media support provided by Oklahoma Magazine and KJRH Channel 2 NBC. Oklahoma Moderne

The Art and Design of Olinka Hrdy September 28, 2007 to January 13, 2008 Celebrating the Oklahoma State Centennial as an official Centennial event, this exhibition examined the work and development of the Czech-American artist and designer Olinka Hrdy (1902-1957), a native Oklahoman. Although largely forgotten in the history of art and design, Hrdy led an accomplished career, exhibiting nationally and working with distinguished architect Bruce Goff. Her artistic development demonstrates an intriguing fusion of modernist abstraction, Czech embroidery and 1920s and '30s art deco. The exhibition surveys her career from her education at The University of Oklahoma in the 1920s to her work in California. Co-organized by the Fred Jones Jr. Museum of Art, The University of Oklahoma and Price Tower Arts Center. Made possible in part by the Oklahoma Arts Council and National Endowment for the Arts. Media support provided by Oklahoma Magazine and KJRH Channel 2 NBC.

Below - Olinka Hrdy, Self-Portrait, 1934, Fred Jones Jr. Museum of Art, The University of Oklahoma, Norman

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2007 ACQUISITIONS REPORT In 2007 Price Tower Arts Center gained 33 acquisitions adding 187 objects into the Permanent Collection. In keeping with the Arts Center’s collecting plan, these acquisitions related to the Arts Center’s focus on mid-twentieth century and contemporary art, architecture and design. One of the most significant acquisitions in 2007 was a collection of twenty-one drawings from the owners of the James and Elizabeth Akright residence. Known for its unique renovation by Bruce Goff in 1959, the collection includes plans for the original house designed by David Runnells, unexecuted proposals by W.H.Calderwood and Tom McCrory, as well as hand-colored drawings by Goff. A dossier of important construction information was included with this gift and has been added to the Price Tower Arts Center archives. Other 2007 acquisitions will be seen by museum patrons in such future exhibitions as the Centuries of Progress: American World’s Fairs, 1853-1982 and Lights! Camera! Fashion!: The Film Costumes of Edith Head. Acquisitions to the library totaled approximately 150 and over 50 objects were added to the Price Tower Arts Center archives.

Above - Russel Wright, designer; Bartlett-Collins Co. (U.S.A.), manufacturer “Eclipse” pattern glassware and ice bucket c. 1957-58 Photo by Amatucci Photography, 2008.

Select acquisitions Frank Lloyd Wright (American, 1867-1959), designer (logo); Shenango China Company (U.S.A., 1901-1991), manufacturer H.C. Price Company china, two-handled cup with company’s HCPCo logo Form manufactured January to June 1952 Logo designed c. 1956 Earthenware; molded, glazed Gift of Theo and Pete Sila, Robbie and Tom Morris, Kimberly and Brad Doenges, and Sheryl and Joe Kaufman, 2007.01 Raymond Loewy (American, born France, 1893-1986), designer; Le Creuset (France, est. 1925), manufacturer “Coquelle” series covered casserole and shallow baking pan Designed 1958 Cast iron, Bakelite; enameled Museum purchase, 2007.02.1-.2 Ben Seibel (American, 1918-1985), designer; Iroquois China Company (U.S.A., 1905-1970), manufacturer Four place setting and miscellaneous serving pieces of “Informal” series dinnerware with “Harvest Time” pattern c. 1958 Earthenware; molded, glazed Museum purchase, 2007.05.01-.18, 2007.06, 2007.12, 2007.13, 2007.14 Karim Rashid (American, born Egypt, 1960), designer; EntreX (Japan, est. 1986) for Noritake (Japan, est. 1904), manufacturer Sake cup, Kakukobachi square bowl and Yakimonozara dish 2005 Fine bone china; molded, glazed Museum purchase, 2007.09.2-.4


Edith Heath (American, 1911-2005), designer; Heath Ceramics Inc. (U.S.A., est. 1948), manufacturer Medium casserole dish with lid, in moonstone and linen with wiped edge Earthenware; thrown, glazed Museum purchase, 2007.11a-b Russel Wright (American, 1904-1976), designer; Northern Industrial Chemical Company (U.S.A.), manufacturer; distributed by Home Decorator Service (U.S.A.) Four place setting of “Residential” line dinnerware 1953 Melmac; molded Museum purchase, 2007.15.01-.16 Russel Wright, designer; Bartlett-Collins Co. (U.S.A.), manufacturer “Eclipse” pattern glassware and ice bucket c. 1957-58 Glass; molded, gilded and screen printed Museum purchase, 2007.16.1-.4, 2007.17, 2007.33 Belle Kogan, (American, 1902-2000), designer; Boonton Plastics Molding Co. (U.S.A.), manufacturer Place setting of “Boontonware Belle” line in white Melmac; molded Museum purchase, 2007.20.1-.5 Simtex Mills (U.S.A.), manufacturer Trellis pattern tablecloth Rayon, cotton; woven, printed Museum purchase, 2007.21 Akright House Drawings Collection 1950-1974 Gift of Carol Akright and Susan Stanton, 2007.22.01-.21

Benjamin West Kilburn (American, 1827-1909), photographer and publisher Stereoscopic cards of scenes from the 1893 Columbian Exposition, Chicago, Illinois Copyright 1893 Printed paper Gift of Joyce O’Donnell, 2007.23.1-.5 Eva Zeisel (American, born Hungary, 1906), designer; Federal Glass Company (U.S.A., 1901-1980), manufacturer “Stockholm” shape glassware c. 1960 Glass; molded, screen-printed Gift of Zeisel Mostly, 2007.31.1-.7 Charles Therpley (American, 1909-1994), designer; Red Wing Potteries, Inc. (U.S.A., 1861-1967), manufacturer “Casual” line divided serving dish and relish dish with “Bob White” pattern Ceramic; molded, glazed, hand-painted Museum purchase, 2007.27, 2007.30 John Frank (American, 1905-1973) designer; Frankoma Pottery, Inc. (U.S.A., est. 1933), manufacturer Cornucopia bowl (pattern number 222) with Prairie Green glazing and original label Designed 1942 Earthenware; molded, glazed Museum purchase, 2007.28 The Werner Company (Chicago, Illinois), publisher Portfolio of Photographs of the World’s Fair, Household Art Series Chicago 1893-1894 Printed paper Gift of John West, 2007.32.02-.17

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Board of Trustees, national advisory council, staff

board of trustees C.J. “Pete” Silas Chairman

Mark Fehrs Houkohl The Vero Group Houston

Robbie A. Morris Vice Chair and President

Barbara Jakobson New York

Sheryl Kaufman Vice President and Treasurer

Kyle Johnson Pei Cobb Freed & Partners, New York

Patricia B. Romines Secretary

Wendy Evans Joseph Wendy Evans Joseph Architecture, New York

members

Bill Kurtis Kurtis Productions, Chicago

Kenneth Adams Billie Barnett Barry Buell William G. Creel Charles E. Daniels Brad Doenges John Duvall Judy Moreland Leigh Ann Moss Carolyn S. Price Lanny Seals M. Theodosea Silas Lynda Tippeconnic Joe Walker

Joseph Mashburn University of Houston, School of Architecture, Houston

National Advisory Council

Harold Price Laguna Beach, CA

Richard Feigen Richard L. Feigen & Company, New York

Joe Price Shin’en Kan Foundation, Inc., Corona del Mar, CA

Mark Fletcher New York Rosalie Genevro Architectural League of New York, New York Jim Goulka Phoenix

Roger Lloyd London Marcus C. Low, Jr. Milwaukee

Ron Scherubel Frank Lloyd Wright Building Conservancy, Chicago Georgia Snoke Tulsa

Executive Administration

Curatorial & Education

Laura Riley Director of Operations / Interim Executive Director

Scott Perkins Curator of Collections & Exhibitions

Patti Grissom Executive Assistant Finance & Operations Cheryl Fregin Finance Assistant Christine Staton Manager of Retail Operations Cynthia Naylor Lynn Merony Visitor Services Elizabeth Green Hannah Beuke Museum Store Associate Marketing & Development Jennifer Cordero Director of Marketing & PR Leah Opitz* Development Coordinator Lindsay Kirk Marketing Assistant

Kay Johnson Registrar/ Manager of Architecture Study Center Libby Leonard Education & Volunteer Coordinator DeShane Atkins Curatorial Assistant BUILDING & GROUNDS Robert Welch* Building Superintendent Jason Lindley Maintenance Assistant Darla Atkins Housekeeping Inn at Price Tower Mac Taylor General Manager Matt Fulton Restaurant Manager * Former employees


EDUCATION AND OUTREACH PROGRAMS Docent Program Price Tower Arts Center docents are the interpreters of not only Price Tower history, but of permanent collection items and temporary exhibitions. Gallery docents provide in-depth information on the Arts Center’s exhibitions while historic tower tours of the Price Tower are conducted by a corps of 26 trained guides, each imparting their knowledge of Frank Lloyd Wright’s only realized skyscraper to our visitors. Docents benefit from on-going training provided by members of the curatorial team which includes hands-on study sessions, brown-bag lunch discussions, presentations in the Architecture Study Center, field trips, and monthly newsletters. In admiration of their dedication and service, docents are honored at volunteer appreciation parties in July and December where they are able to reunite over dinner accompanied by festivities and fun. The docent program is open to anyone willing to make a commitment of four hours per month. Total Tower Tour Attendance: 4,552

K-12 Education Programs In collaboration with local K-12 educators, Price Tower Arts Center developed an extensive education guide of resources for both classroom and on-site use. Debuted during the annual Teacher Open House, the 2007-2008 Education Guide includes curricula related to the Arts Center’s permanent collections and temporary exhibitions; classroom activities; historical timelines; biographies of Frank Lloyd Wright, Bruce Goff, the Price Family and the HC Price Company; a digital library of over 100 images; and a “virtual tour” of Price Tower’s historical interiors. The guide works with core curriculum topics such as science, social studies, language arts, visual arts, performance arts, and mathematics and incorporates not only Oklahoma PASS requirements, but also those for the Oklahoma A+ program. In its debut year, more than 40 copies of this guide were distributed upon request and without charge. School districts participating in 2007 Arts Center activities Irene Raburn, Volunteering for Tower Tots

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include Bartlesville, Vinita, Pawhuska, Tulsa, Copan, Broken Arrow, Collinsville, Commerce, and Choteau. Additionally, the Arts Center education team traveled to Wilson Elementary with Dennis Oppenheim’s sculpture models for that school’s “Friday Finale” events. Total K-12 Attendance: 553 students and teachers MathArt Summer Camp Price Tower Arts Center’s annual MathArt Summer Camp provide children ages 9-12 with a fourweek program of mathematics learning through art,

Bettye Williams, Volunteer

architecture, and design awareness. Developed and taught by Margie Learned, math specialist for the Nowata school district, MathArt is inspired by the Price Tower. Campers create string art, tangram puzzles, geometric tessellations, and explore the geometry used by Frank Lloyd Wright in designing the Price Tower. Campers also use information gathered on downtown public art walking tours to design floor plans for their own MathArt-inspired building. Total Attendance: 129

Tower Tots Tower Tots are the Arts Center’s youngest audience members! The program, designed for children aged 3-6 with accompanying adults, is held twice monthly during the temporary exhibitions and includes a short story time followed by hands-on activities in the Arts Center Annex. Tower Tots are introduced to basic art concepts and practice museum etiquette while experiencing Frank Lloyd Wright’s architecture. Total Attendance: 145 SeptemberFest This year, Price Tower Arts Center was invited to bring an arts education activity to Oklahoma City during Septemberfest, a celebration of Oklahoma’s arts and culture at the governor’s mansion. Young visitors to the Arts Center’s booth experimented with building techniques using marshmallows and toothpicks, while their parents learned about Frank Lloyd Wright’s singular skyscraper. Total Attendance at the Arts Center’s booth: over 500 Family Arts Festival: Happy Birthday Oklahoma! The Arts Center’s annual festival of art was extra special this year, as attendees celebrated one hundred years of Oklahoma statehood. More than 200 young artists submitted works to the student art show, which was juried by members of the Bartlesville Art Association. The Red Dirt Rangers provided a lively backdrop of music as young and old alike created art and played games at this free event partially underwritten by a grant from the Oklahoma Arts Council. Total Attendance: 434 LECTURE SERIES February 3, 2007 -- Study Day: “Industrial Design and the Consumer Century” with collector Don Emmite and historian Russell Flinchum.


March 31, 2007—Study Day: “Japan and Modernity” with Jacqueline Atkins, PhD, the Kate Fowler Merle-Smith Curator of Textiles at the Allentown Art Museum. April 5 and 6, 2007 – Lecture: Paul Goldberger, architecture critic for The New Yorker. April 21, 2007 – Study Day: “Frank Lloyd Wright’s Light Screens” by stained glass historian and author Julie Sloan. May 26, 2007 – Panel Discussion: “Out of Oklahoma: Contemporary Artists and Oklahoma” with visiting artists Joe Andoe and Kreg Kallenberger; Michaela Merryday, Assistant Professor of Art History, University of Tulsa; Susan Havens Caldwell, Professor of Art History, University of Oklahoma; and B. Byron Price, Charles Marion Russell Memorial Chair and Professor of Art History, University of Oklahoma. October 18, 2007 – “Oklahoma Moderne: The Art and Design of Olinka Hrdy” by Mark Andrew White, Associate Professor of Art History at Oklahoma State University and Guest Curator of Oklahoma Moderne: The Art and Design of Olinka Hrdy. December 8, 2007 – Panel Discussion: “Modern Women Artists and Designers in the Twentieth Century” with Mark Andrew White, Associate Professor of Art History at Oklahoma State University and Guest Curator of the current exhibition Oklahoma Moderne: The Art and Design of Olinka Hrdy; Ashley Callahan, Curator of the Henry D. Green Center for the Study of the Decorative Arts at the Georgia Museum of Art, University of Georgia; and Elizabeth Seaton, PhD, Assistant Curator at the Marianna Kistler Beach Museum of Art, Kansas State University. Total Attendance at Arts Center lectures: 317 Price Tower Arts Center | National Historic Landmark

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Philanthropy 2007 We are deeply appreciative of the following individuals and organizations that provided financial support to the Arts Center. Over four hundred donors gave more than $1.3 million in cash and in-kind gifts in 2007. There are a handful of sponsors whose on-going support provide the framework on which the Arts Center’s activities are built. Again in 2007, we recognize ConocoPhillips, the Silas Foundation, Mr. & Mrs. Joel Romines and the Oklahoma Arts Council for their significant gifts. Generous individuals with a real passion for the work of the Arts Center respond by joining our Giving Society. These special donors give over $2,500 per year, either in unrestricted support, or in response to a particular giving opportunity. Throughout the year, these donors are invited to travel opportunities and special events. In 2007, upper level donors enjoyed an elegant wine reception and dinner held in Copper Restaurant. We recognize those outstanding individual givers who supported the 2007 exhibition Out of Oklahoma: from Andoe to Ruscha with a significant gift. Thank you to Sandy and Harold Price, Julie and Charlie Daniels, Robbie and Tom Morris, Dr. Eric Sherburn and Leigh Ann Moss, and Martha Burger. We are also grateful to those individuals and institutions which lent their paintings to this exhibition, including Diana Moon and Ken Adams, Sandy and Harold Price, the Fred Jones Jr. Museum of Art, the Philbrook Museum of Art and the Claudia Altman-Siegel and the Luhring Augustine Gallery. Members of the Arts Center are an important group who support the organization while receiving great benefits. In addition to unlimited free admission to Arts Center exhibitions, and discounts at The Wright Place Museum Store and Copper Restaurant, Arts Center members at the $100 level receive free admission benefits at other museums nation wide through the North American Reciprocal Membership program. On an annual basis, we examine our membership program and strive to improve its value. Starting in 2007, we

Mrs. Carol Creel and Mrs. Ronnie Cox

Trustee Billie Barnett and husband Howard G. Barnett


were pleased to offer Arts Center members at the $100 level reciprocal benefits to eleven other public Frank Lloyd Wright sites, including such highly popular buildings as Fallingwater, Taliesin West and the Frank Lloyd Wright Home and Studio. The Arts Center’s annual gala fundraiser recognized the state of Oklahoma and its influence on contemporary artists during Centennibrate!: Contemporary Art and Oklahoma. Revelers at the pre-event cocktail party rubbed shoulders with noted artists such as Joe Andoe, Kreg Kallenberger, Harold Stephenson and Poteet Victory – all of whom had works on display in the Arts Center’s exhibition Out of Oklahoma: Contemporary Artists from Ruscha to Andoe. The fun continued with dinner, dancing and silent & live auctions held at the Bartlesville Community Center’s Community Hall. Kudos go to gala committee chair Kimberly Doenges and members Dawnette Brady, Sheryl Kaufman, Janie Kirkpatrick, Beth Maddux, Marty May, Phyliss Mitcheal, Robbie Morris, Patricia Romines, Theo Silas and Barbara Williams for their efforts which netted more the $47,000 to support Arts Center programs. Thanks also go to table sponsors ConocoPhillips, the Barnett Family Foundation, Pete & Theo Silas, Diana M. & Kenneth G. Adams, Doenges Toyota, Ford, Lincoln & Mercury, Helmerich & Payne, 66 Federal Credit Union, Culinaire International, Bokka Group, Western Printing, KJRH Channel 2, and Oklahoma Magazine. We also want to recognize two special groups, who responded to challenge grants in 2007. The OU Alumni of Washington County contributed in response to an appeal made by trustee and fellow alumni Charlie Daniels to support the Arts Center/University of Oklahoma collaborative exhibition Out of Oklahoma: Contemporary Artists from Rusha to Andoe. These new donors were invited to attend the exhibition’s opening event. And in conjunction with a grant awarded by the Oklahoma Humanities Council, Price Tower Arts Center’s very own docents rose to the challenge in support of the exhibition Setting the Table: Designs in Mid-Century Dinnerware, which will open in April, 2008.

Trustees: Bill Creel, Brad Doenges, and Board Chairman C.J. Silas

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2007 ANNUAL FUND DONORS

Grand Benefactor ($50,000.00+) Mr. and Mrs. Joel Romines Mr. and Mrs. C. J. Silas Silas Foundation Benefactor ($10,000.00+) ConocoPhillips Mr. and Mrs. Glenn A. Cox KJRH 2 NBC Tulsa Mr. and Mrs. Thomas C. Morris III Oklahoma Arts Council Oklahoma Magazine Mr. and Mrs. David J.Tippeconnic Mr. John West and Dr. Mary Weare Chairman’s Council ($5,000.00+) Mr. and Mrs. Barry Buell Doenges Toyota Ford Lincoln Mercury Kenneth G. & Diana Moon Adams Foundation Kirkpatrick Family Fund Dr. Eric Sherburn and Ms. Leigh Ann Moss Mr. and Mrs. Harold C. Price Jr Tallgrass Broadcasting KOSG 103.9 FM The Barnett Family Foundation, Inc. Western Printing Company Director’s Circle ($2,500.00+) Mr. Howard G. Barnett and Mrs. Billie T. Barnett Bartlesville Development Corporation Mr. and Mrs. Gene Batchelder Bokka Group Mr. and Mrs. Roger H. Box Ms. Martha Burger and Mr. Donald Rowlett Mr. and Mrs. William G. Creel Mr. and Mrs. Charles Daniels Mr. Mark Fletcher Helmerich & Payne, Inc. Ms. Barbara Jakobson Mr. and Mrs. Joseph W. Kaufman Mr. and Mrs. Jack Lenhart

Mrs. and Mr. Phyliss Mitchael Mr. and Mrs. James Mulva Mr. Scott Ramsey and Ms. Jill Lenhart Sarkeys Foundation Mr. Thomas Schiff Dr. William P. Tinker Associate ($1,000.00+) 66 Federal Credit Union Ambler Architects Mr. and Mrs. David Bailey Bartlesville Examiner-Enterprise Mr. and Mrs. Charles Bowerman Mr. and Mrs. Louis Gave Mr. and Mrs. Ginger Griffin Mr. and Mrs. Edd Grigsby Sir Mark Haukohl K.S. Adams Foundation Mr. and Mrs. John F. Kane Mr. and Mrs. William B. King Mr. and Mrs. Marcus C. Low Jr Mr. and Mrs. H. Michael May Mr. and Mrs. Joseph W. O’Toole Mrs. Carolyn S. Price Mr. and Mrs. Kenneth Snoke The Vero Group Turcott Financial Strategies Group of Wachovia Securities Patron ($500.00+) Allied Arts & Humanities Council of Bartlesville Mr. John P. Daley Mr. and Mrs. Arthur P. Gorman Mr. and Mrs. Mark Haskell Mr. Richard Kane Dr. and Mrs. Stephen Kirkpatrick Mr. Roger H. Lloyd Mr. and Mrs. Jerry Maddux Professor Joseph Mashburn Mr. John McCall McCoy Jewelers Mr. and Mrs. Allyn Risley Mr. and Mrs. David Sigmon Mr. Michael R. Small Talisman Gallery

Vanguard Charitable Endowment Program Supporter ($250.00+) Mr. and Mrs. Walter Allison Mr. Lewis B. Ambler Mr. and Mrs. Scott Ambler Mr. and Mrs. William Bennison Mr. Steve M. Brown Mr. and Mrs. Mike Burris Mr. Ken Busby Mr. Scott Chase Mr. and Mrs. John D. Cherry Mr. Kyle R. Johnson and Mrs. Carol A. Clark Dr. and Mrs. Douglas Coldwell Mr. Fred C. Cook and Mr. Thomas E. Graves Judge H. Dale Cook Mr. and Mrs. Martin Cox Mr. and Mrs. Larry Dearman Mr. and Mrs. Kelly E. Diven Mr. Robert Doenges Mr. and Mrs. Ford Drummond Mr. and Mrs. John A. Favre Mr. Daniel A. Flynn Gail’s Hairstyling, Etc. Mr. and Mrs. John Golbach Mr. Lawrence A. Hall and Mrs. Sarah M. Theobald-Hall Mr. Rod Harwood and Ms. Joyce Fogle Mr. Brent Jones Ms Wendy Evans Joseph Joyce Fogle Studio Mr. and Mrs. Gary Kilpatrick Mr. and Mrs. Bill Kirberger Mr. and Mrs. Wayne Learned Dr. and Mrs. John Leathermat Dr. and Mrs. Simon Levit Mr. and Mrs. Gary Lewis Mr. and Mrs. John C. Mihm Dr. and Mrs. Harris J. Moreland Mr. George J. Morrison Osage Federal Bank Mr. and Mrs. Thomas Payne


Ms. Lori Roll Mr. D.P. Rowland Mr. G. Mark Sappington Mr. and Mrs. Edward L. Schmidt Mr. and Mrs. William J. Schmidt Jr Mr. and Mrs. Hans Schmoldt Mr. and Mrs. Doug Schwegman Mr. and Mrs. Jim Seaba Mr. and Mrs. Richard Small SR Hughes & Daughters, Inc Mrs. Carmen J. Stanton Visual FX Ms. Sandra Waldo and Mr. Kenneth Dewey Ms. Becky E. Wallace Dr. and Mrs. Jim Webb Mr. and Mrs. Mark White Mr. and Mrs. Carl A. Wilhelm Barbara Williams Mr. Martin R. Wing Mr. and Mrs. Michael C. Wofford Dr. and Mrs. Dean G. Zervas Contributor ($100.00+) Mr. and Mrs. Kenneth G. Adams Mr. and Mrs. Bill Alexander Mr. and Mrs. Donald Anderson Mrs. Frances T. Andrews Mr. and Mrs. Richard Askew Mr. Lyle Baker Mr. and Mrs. Sterling Baker Mr. and Mrs. Bernard Baldwin Mr. and Mrs. Robert G. Berry Mr. and Mrs. Randy S. Bluhm Boles Jewelry Ms. Barbara Booher Mr. and Mrs. Harry D. Brookby Jesse Buffington Bunge Corporation Foundation Catherine Designs Mr. and Mrs. Michael Chaney Mrs. Donna Chopp Mr. and Mrs. John E. Chouteau Ms. Claudine D. Copenhaver Mrs. Betty Dalrymple

Mr. and Mrs. Donald D. Doty Mr. and Mrs. David W. Dreisker Mr. and Mrs. Frederick Drummond Mr. and Mrs. Otto F. Duecker III Mr. Howard W. Ellington Mr. Dale Embry The Rev. and Mrs. Robert R. Evans Mr. and Mrs. Robert Farmer Fifth & Shawnee Discount Liquor Senator and Mrs. John Ford Mr. David Frazey Ms. Marie P. Freiberger Ms. Virginia Frobel Ms. Carlene Fullerton Mr. Jodie Fund Mr. and Mrs. Virgil E. Gaede Mr. John Gorman Ms. Denise L. Gregg Mr. W. S. Griffin, Jr. Mr. and Mrs. Jerry N. Grove Ms. Jeanne H. Gruver Mr. and Mrs. Steven Haigh Mr. B. E. Haldorson Ms. Judy K. Hall Mr. and Mrs. Tom P. Harrison Mr. and Mrs. Johnny D. Hays Jr Mr. and Mrs. Larry Howenstine Mr. and Mrs. Jim Jaqua Mr. and Mrs. Jenk Jones Jr Mr. and Mrs. Richard Knoblock KWON/KYFM/KRIG/KPGM Radio Mr. and Mrs. Frank M. Lacey Mrs. Jo Anne M. & Mr. George W. Lewis Mr. Dan Lucas Mr. and Mrs. Michael R. Malaby Ms. Kathryn Mann Mr. and Mrs. Jon Martens Mr. Michael P. McNelis Mrs. Mildred Carolyn Moore Mr. Bernard R. Morris Dr. and Mrs. James G. Morris Mr. Stan and Mrs. Susan Mueller Mr. and Mrs. Martin R. Needleman Mr. and Mrs. Don Newman

Mr. and Mrs. J.E. Pritchard Prudential Foundation Pure To Go Mr. and Mrs. Byron J. Reburn Mr. and Mrs. Mike Reburn Mrs. Kathryn R. Reese Mr. Edward Reilly Mr. Frederic L. Rice Jr Dr. and Mrs. John Riddlebarger Ms. Juley Roffers Mr. and Mrs. Paul A. Roll Mr. Earl Rose and Mrs. Marilyn Rose Dr. Gary Ross Mrs. Viola Rowland Mr. and Mrs. J. William Rudd Mr. and Mrs. Lanny M. Seals Mr. and Mrs. Ronald L. Scherubel Esq. Mr. Bryan S. Scrivner Mr. and Mrs. Sandy H. Singleton Mr. and Mrs. Roger Skelly Mrs. Ruth Smith Mr. and Mrs. Wallace W. Souder Dr. Sheila K. Spurgeon Stone Horse Cafe Ms. Marjorie J. Strain Mr. and Mrs. Guy E. Sutherland Mr. D. L. Trexler Urban Furnishings Mr. Paul Uttinger Mr. Steve Van Aken Mr. and Mrs. R.E. Weis The Westcott House Foundation The Wild Fork Mr. and Mrs. William Woodard Family ($50.00+) 81 patrons Individual ($40.00+) 53 patrons Artist/Educator/Student ($30.00+) 9 patrons

Price Tower Arts Center | National Historic Landmark

17


MARKETING & public relations With the extensive press coverage of the National Historic Landmark (NHL) designation in April 2007, the recognition at Epcot in October, and the great centennial exhibitions Out of Oklahoma and Oklahoma Moderne, Price Tower Arts Center successfully placed its brand out in the public eye. Marketing and public relations focused its efforts more regionally in 2007. The efforts for national and international attention were explored through holistic experiences in Frank Lloyd Wright’s only skyscraper, the Price Tower. It became apparent that building the brand of Price Tower Arts Center was more about individual experiences and less about focusing attentions solely on the exhibitions. So, we focused on listening to our audiences throughout the year. Much needed market research was conducted with the membership base and feedback from audiences both locally and regionally fed the strategy development for the next three years. With the executive director position still open, much of the public discussion became focused on the localized events and the statewide involvement of the centennial exhibitions, as well as the new announcement of the Price Tower as a National Historic Landmark.

Marketing Price Tower Arts Center, Inn at Price Tower and Copper Restaurant + Bar continued their second full year of branding under the phrase “Landmark Destination” and “Frank Lloyd Wright’s only skyscraper.” This was especially important with the NHL designation, setting the Price Tower even more apart from the competition in its internationally unique status. Collateral materials such as the annual exhibition rack card and membership brochure and the Inn at Price Tower brochure for overnight guests assisted in the tourism markets through the State of Oklahoma Tourism and Recreation Department literature distribution center and the fulfillment of information requests received by Price Tower Arts Center. Advertising was focused in a four state region for travelers who wanted either a daytime or overnight experience. Publications included the Joplin Globe, East Wichita News, NW Arkansas magazine, Oklahoma Magazine, Tulsa World, Bartlesville Examiner-Enterprise, Nichols Hills News, the Oklahoma Travel Guide and more. A new medium of advertising for the Arts Center and Inn was used in 2007, web site based banner ads. This new more budget-practical approach placed Price Tower Arts Center front and center of the travel, entertainment and dining section of large area newspapers online. Web sites for Tulsa World, Dallas Morning News and the Oklahoman were all utilized to drive web site traffic to landing pages on www.pricetower.org and generate interest in visits, museum store purchases and membership. The e-newsletter and events updates continued in 2007 as a means to provide quick accurate information to members and friends of the museum and offer specials to the Inn at Price Tower and Copper Restaurant.


Collaboration Price Tower Arts Center worked closely with the Bartlesville Regional Chamber of Commerce and Convention and Visitors Bureau to promote tourism in the Bartlesville area. A tribute to the Price Tower arose in the early months of the year to be recognized in a special display at Epcot, Walt Disney World Resort in Florida where the Oklahoma Department of Commerce promoted the state of

Public Relations Public relations is always a large part of the efforts to communicate externally. Through media kits, press releases, onsite and in-studio interviews, and many email and phone communications, Price Tower Arts Center was at the forefront of great publications and over 100 million impressions. Notable publications included the New York Times, Chicago Tribune, Oklahoma Travel Guide,

Oklahoma by using a loosely replicated building of the Price Tower as their central souvenir shop in the fall of 2007 during the 12th Annual Epcot© International Food and Wine Festival – the first time for a U.S. state to be recognized. A continued relationship with the Tulsa International Airport provided positive feedback from visitors who walked through the airport’s Concourse A and viewed the large Price Tower brochure rack and mini-exhibition display and continued on through the crosswalks where a series of posters tell the story of customizing your experience at Price Tower Arts Center. We especially thank our partners the Bokka Group and Western Printing for sponsoring the annual gala fundraiser and VisualFX and the Bartlesville Examiner-Enterprise for sponsoring the 2007 Family Arts Festival. Without these community leaders, we wouldn’t be able to produce the great marketing pieces we have this year to support our programs.

Oklahoma Magazine and Oklahoma Today. Both Bartlesville radio stations KWON 1400 AM community connection and Tallgrass Broadcasting KOSG 103.9, along with Tulsa’s KWGS NPR affiliate helped get the word out about events and exhibitions and special interviews with guest artists. A special thank you to on-air personalities Rich Fisher and Charlie Taraboletti.

Jennifer M. Cordero Director of Marketing & PR

Price Tower Arts Center | National Historic Landmark

19


facilities and operations INN AT PRICE TOWER and COPPER RESTAURANT + BAR The Inn at Price Tower, a wholly owned, for-profit subsidiary of Price Tower Arts Center, was created with two ends in mind: to give visitors the opportunity of staying the night and dining in a Frank Lloyd Wright design and to provide cash flow to be used in maintaining the Price Tower. In 2007, Inn at Price Tower experienced a 35% growth in rooms sold, with 1,000 more room nights filled than in the prior year. These results are largely attributed to an increase in demand from the business traveler sector, due to specific local events. Despite this dramatic growth, occupancy still lags behind other local competitors, and profitability remains elusive. After careful deliberation, the Inn at Price Tower board of directors elected to seek proposals from other operators for management of the Inn and Copper Restaurant + Bar. Three firms responded to the request. In December, Coury Properties was selected from among the competing bidders to assume management effective April 1, 2008. Operating under the name The Coury Collection and based out of Tulsa, Coury Properties is a full service commercial realty company. The Coury Collection includes three other historic hotels in Oklahoma and Texas. It is this successful experience in managing registered historic properties and the local executive presence that ultimately influenced the board’s decision to engage The Coury Collection as the new Inn operator. Along with the assumption of operational duties, the new operator has unveiled a plan for capital improvements that, once completed, will allow the property to compete more effectively in its class.

Above: Inn at Price Tower, ©Christian M. Korab / Korab Photo

Below: Copper Restaurant + Bar, ©Christian M. Korab / Korab Photo


FINANCE The impact of the organization’s leadership transition is reflected in the Statement of Activities for 2007 as compared to 2006, primarily by a reduction in the number of active projects and programs. In 2006, the organization was actively touring the Prairie Skyscraper exhibition, which ended in early 2007. In addition, there were two sizeable capital projects undertaken in 2006: the restoration of the historic interiors and the opening of the 2nd floor Architecture Study Center. No capital projects were completed in 2007, consequently, contributions were lower in 2007 compared to 2006. As mentioned elsewhere in this report, the number of visitors to the museum declined by approximately 10% from the previous year. This change is reflected on the Statement of Activities by a 10% decline in revenue from admissions and museum store sales. In response to this decline, the organization has widened its programmatic offerings in 2008. Early indicators are good, with the number of visitors increasing in 2008 year to date by 7% from the previous year. The leadership transition ended in early 2008, with the selection of Timothy Boruff as Executive Director, who will take up his position in May 2008.

In consolidating the financial statements of Price Tower Arts Center and Inn at Price Tower, Inc, certain inter-company transactions have been eliminated. These include an accounts receivable of $2,308 owed to the Arts Center by the Inn on December 31, 2007 for shared marketing expenses. The Arts Center has also paid $6,222 for insurance on behalf of the Inn. Price Tower Arts Center carries a line of credit, through which Inn operating losses are financed. In 2007, Price Tower Arts Center lent the Inn at Price Tower $78,500 to provide operating cash. Interest is accrued at a variable rate equal to The Wall Street Journal prime rate. As of December 31, 2007, the interest rate was 4.0 percent. The following consolidated financial statements are reproduced from the independent auditor’s report of the financial position of Price Tower Arts Center as of December 31, 2007. The full audit report, including accompanying notes, which are an integral part of the financial statements, is available for examination at the Arts Center’s business office in Bartlesville.

Comparison of the Statement of Functional Expenses to the prior year illustrates that there were some minor changes in the expense ratio among the functional groups. 2007

2006

Administrative Expense

444,221

Fundraising Expense

184,477

11%

187,974

10%

Curatorial & Public Programs

690,714

41%

839,206

44%

Buldings & Grounds

384,840

22%

354,977

18%

1,704,252

100%

1,907,066

100%

Total

26%

524,909

28%

Price Tower Arts Center | National Historic Landmark

21


independent auditor’s report and financial statements

Board of Trustees Price Tower Arts Center, Inc. Bartlesville, OK We have audited the accompanying consolidated statement of financial position of Price Tower Arts Center, Inc. (a nonprofit organization) as of December 31, 2007, and the related consolidated statements of activities, functional expenses and cash flows for the year then ended. These consolidated financial statements are the responsibility of Price Tower Arts Center, Inc.’s management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the consolidated financial position of Price Tower Arts Center, Inc. as of December 31, 2007, and the consolidated changes in its net assets and cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America.

Archambo & Mueggenborg, PC Certified Public Accountants May 6, 2008


consolidated statement of financial position December 31, 2007 With Comparative Totals as of December 31, 2006

ASSETS

Price Tower Arts Center Inc.

Inn at Price 2007 Total Tower Inc.

2006 Total (Memo)

CURRENT ASSETS

Cash and cash equivalents (Note 1)

122,964

14,261

137,225

8,400

0

8,400

7,926

102,810

12,707

115,517

105,048

Accounts receivable

4,332

16,107

20,439

19,281

Employee advances

94

0

94

124

6,046

0

6,046

16,225

Investments (Note 1) Inventory

Prepaid exhibit rentals Prepaid insurance and other expenses

103,264

31,201

664

31,865

32,702

275,847

43,739

319,586

284,570

103,548

0

103,548

92,246

2,439,540

7,950

2,447,490

2,647,304

12,389

0

12,389

11,668

1,100

0

1,100

7,546

Total other assets

2,556,577

7,950

2,564,527

2,758,764

Total assets

2,832,424

51,689

2,884,113

3,043,334

Total current assets OTHER ASSETS

Pledges receivable (Note 4) Property and equipment (Note 2) net of accumulated depreciation Endowment in Bartlesville Community Foundation (Note 11) Deposits

CURRENT LIABILITIES Accounts payable

60,081

14,953

75,034

96,009

Accrued liabilities

14,316

27,539

41,855

22,250

Current portion of capital lease

2,254

0

2,254

3,418

0

0

0

11,150

Current portion of insurance note Deferred income Total current liabilities

0

0

0

5,042

76,651

42,492

119,143

137,869

long-term liabilities (Note 12)

Capital lease payable, less current portion Total liabilities

0

0

0

2,257

76,651

42,492

119,143

140,126 2,859,458

NET ASSETS

2,735,387

9,197

2,744,584

Temporarily restricted (Note 3)

Unrestricted

10,386

0

10,386

33,750

Permanently restricted (Note 1)

10,000

0

10,000

10,000

Total net assets

2,755,773

9,197

2,764,970

2,903,208

Total liabilities and net assets

2,832,424

51,689

2,884,113

3,043,334

Price Tower Arts Center | National Historic Landmark

23


consolidated statement of activities For the Year Ended December 31, 2007 With Comparative Totals as of December 31, 2006

Unrestricted SUPPORT AND REVENUE:

Temporarily Restricted

Permanently 2007 Total Restricted

2006 Total (Memo)

SUPPORT:

1,193,045

12,185

0

1,205,230

1,593,372

In-kind contributions

Contributions

80,561

0

0

80,561

106,894

Grant income

19,350

8,000

0

27,350

9,385

1,292,956

20,185

0

1,313,141

1,709,651

Total support REVENUE:

Membership dues

46,181

0

0

46,181

49,842

Museum store sales

83,157

0

0

83,157

99,728

Admissions and class fees

30,829

0

0

30,829

34,829

Rental income

99,243

0

0

99,243

114,235

Special events

37,680

42,280

0

0

42,280

Interest and dividends

4,345

0

0

4,345

4,191

Miscellaneous income

84

0

0

84

2,276

306,119

0

0

306,119

342,781

Total revenue Net assets released from restrictions:

Restricted purpose fulfilled TOTAL SUPPORT AND REVENUE

43,549

(43,549)

0

0

0

1,642,624

(23,364)

0

1,619,260

2,052,432

524,909

EXPENSES: Administrative expenses

444,221

0

0

444,221

Fundraising and development

184,477

0

0

184,477

187,974

Exhibitions and public programming

690,714

0

0

690,714

839,206

Building and grounds TOTAL EXPENSES

384,840

0

0

384,840

354,977

1,704,252

0

0

1,704,252

1,907,066

GAINS AND LOSSES: Net gain/(loss) on sale of investments Unrealized gain on investments TOTAL GAINS AND LOSSES

Net Revenue Over (Under) Expenses and Losses

9,933

0

0

9,933

334

750

0

0

750

1,612

10,683

0

0

10,683

1,946

(50,945)

(23,364)

0

(74,309)

147,312

INN AT PRICE TOWER, INC . Restaurant revenue

342,474

0

0

342,474

356,012

Hotel revenue

421,921

0

0

421,921

332,595

Expenses

(816,400)

0

0

(816,400)

(859,428)

Net Revenue Over (Under) Expenses

(52,005)

0

0

(52,005)

(170,821)

(102,950)

(23,364)

0

(126,314)

(23,509)

Changes in net assets before other adjustments

OTHER ADJUSTMENTS: Collection acquisitions (Note 9) Total other adjustments TOTAL CHANGE IN NET ASSETS

(11,924)

0

0

(11,924)

(16,000)

(11,924)

0

0

(11,924)

(16,000)

(114,874)

(23,364)

0

(138,238)

(39,509)

Net assets, beginning of the year

2,859,458

33,750

10,000

2,903,208

2,942,717

Net assets, end of the year

2,744,584

10,386

10,000

2,764,970

2,903,208


consolidated statement of cash flows For the Year Ended December 31, 2007 With Comparative Totals as of December 31, 2006

CASH FLOWS FROM OPERATING ACTIVITIES: Change in net assets

2007

2006

(138,238)

(39,509)

223,908

217,350

Adjustments to reconcile increase (decrease) in net assets to net cash provided by operating activities: Depreciation Loss on disposition of assets

2,352

0

Realized gain on investments

(9,933)

(334)

Unrealized gain on investments

(750)

(1,612)

Investment income (loss)

9,696

(514)

(439,996)

(62,503)

Accounts receivable

(1,158)

(14,331)

Employee advances

30

273

Pledges receivable

(11,302)

60,830

Inventory

(10,469)

25,093

10,179

(14,350)

837

(9,145)

Accounts payable

(20,975)

(67,549)

Accrued liabilities

19,605

3,701

Deferred income

(5,042)

(11,656)

(371,256)

85,744

Purchase of furniture, equipment and building improvements

(26,446)

(204,817)

Sale of donated stock

439,788

63,242

6,446

(1,262)

419,788

(142,837)

Stock donations (Increase) decrease in operating assets:

Prepaid exhibit rentals Prepaid insurance and other expenses Increase (decrease) in operating liabilities:

Net cash provided (used) by operating activities

CASH FLOWS FROM INVESTING ACTIVITIES:

Utility and other deposits Net cash provided (used) by investing activities

CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from capital lease

0

3,039

Proceeds from insurance note

0

24,627

Payments on capital lease

(3,421)

(2,199)

Payments on insurance note

(11,150)

(13,477)

(14,571)

11,990

Net cash provided (used) by financing services

33,961

(45,103)

Cash, beginning of the year

Net increase (decrease) in cash

103,264

148,367

Cash, end of the year

137,225

103,264

Price Tower Arts Center | National Historic Landmark

25


consolidated statement of functional expenses For the Year Ended December 31, 2007 With Comparative Totals as of December 31, 2006

PRICE TOWER ARTS CENTER INC . Administrative Fundraising & Expenses Development Salaries

Exhibitions & Building & Public Grounds Programming

140,854

59,834

174,508

99,105

Employee benefits

20,942

940

12,388

13,533

Payroll taxes

17,043

3,302

15,407

8,504

Other taxes

447

0

0

0

16,126

0

31,950

2,104 0

Contract services Advertising

208

4,538

93,624

Consulting and promotions

0

0

4,887

0

Programs and exhibits

0

0

44,284

0

Food and beverage expense

0

11,571

2,908

0

54,320

5,606

59,761

74,701

Other expense

9,360

1,460

2,323

0

Insurance

8,655

671

10,517

8,945

Utilities and telephone

Office supplies

10,072

0

1,880

51

Supplies and equipment

11,599

4,976

17,706

8,332

Printing and reproductions

6,854

18,761

24,617

0

Postage and delivery

9,718

2,996

6,492

0

Professional services

18,630

12,282

87,067

1,007

Rent

150

6,470

475

0

Conferences and travel

6,398

4,752

16,145

150

Dues and fees

2,670

684

2,021

0

0

0

0

69,363 9,109

Repair and maintenance Security

5,791

788

7,287

Seminars and training

1,552

6,446

1,750

0

0

31,861

2,971

0

Special events Cost of good sold Damages and losses Depreciation Total

48,343

0

0

0

0

0

0

2,754

54,489

6,539

69,746

87,182

444,221

184,477

690,714

384,840


Total

Inn at 2007 Total Price Tower

2006 Total (Memo)

474,301

281,696

755,997

736,802

Salaries

47,803

25,699

73,502

68,281

Employee benefits

44,256

30,073

74,329

89,151

Payroll taxes

447

2,842

3,289

295

Other taxes

50,180

78,867

129,047

183,977

Contract services

98,370

49,201

147,571

121,437

Advertising

4,887

0

4,887

22,677

Consulting and promotions

44,284

0

44,284

90,749

Programs and exhibits

14,479

14,331

28,810

20,215

Food and beverage expense

194,388

11,865

206,253

249,152

Utilities and telephone

13,143

2,115

15,258

51,261

Other expense

28,788

10,597

39,385

48,252

Insurance

12,003

6,492

18,495

19,293

Office supplies

42,613

30,823

73,436

79,515

Supplies and equipment

50,232

239

50,471

67,698

Printing and reproductions

19,206

1,761

20,967

25,603

Postage and delivery

118,986

87,909

206,895

273,748

Professional services

7,095

8,926

16,021

7,687

Rent

27,445

8,250

35,695

42,860

Conferences and travel

5,375

23,672

29,047

41,757

Dues and fees

69,363

8,713

78,076

67,906

Repair and maintenance

22,975

0

22,975

28,740

Security

9,748

0

9,748

4,119

Seminars and training

34,832

0

34,832

32,673

Special events

48,343

126,377

174,720

175,296

Cost of good sold

2,754

0

2,754

0

Damages and losses

217,956

5,952

223,908

217,350

Depreciation

1,704,252

816,400

2,520,652

2,766,494 

Total

Price Tower Arts Center | National Historic Landmark

27


Price Tower Arts Center provides local, regional and global audiences with the experience of great art, architecture and design in an arts complex whose centerpiece is Frank Lloyd Wright’s masterpiece, the Price Tower.


Cover image: Price Tower at night, c.1956 Photo by Joe Price, PTAC 2003.16.195 Design by More Branding+Communication Printed by Western Printing, Tulsa, Oklahoma

Š2007 Price Tower Arts Center


Photo by Joe Price, c.1956, PTAC 2003.16.200

PRICE TOWER ARTS CENTER Now a certified National Historic Landmark, Price Tower Arts Center can pride itself and its community about its historical architectural nature.

510 Dewey Avenue, Bartlesville, OK 74003 pricetower.org

2007 PTAC Annual Report  

Price Tower Arts Centers 2007 Annual Report.

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