Prepared at the request of the City of Sarasota

The Turner Museum and Thomas Moran Galleries, Featuring the master- works of J.M.W.Turner and Thomas Moran Since 1973

www.turnermuseum.org – trilingual website crammed with hundreds of illustrated art exhibits

[The overhaul of our 11 year old website is nearly complete]

email: turnermuseum@turnermuseum.org

A public trust - IRS tax-exempt under section 501[c] 3 of the Internal Revenue Code since August 1975 - IRS Employer Identification Number: 51-0152716

Trustees

Douglass Montrose-Graem, Chairman, Sarasota Florida www.spirit007genius.com, author of this Prospectus - solely responsible for its content Isis Marina Graham, Boulder Colorado missisismarina@gmail.com Bridget Robinson, Winnipeg Canada – bridget@mts.net Trustees representing local government – currently vacant positions U.K. ambassador: Dr. Selby Whittingham, London - selbywhittingham@hotmail.com Our mission statement A fierce attachment to quality combined with a diligent search for perfection Our singular focus Our focus J.M.W. Turner, is as focused, as the hugely successful Dali Museum?s in St. Petersburgh , Florida is. J.M.W. Turner, [1775-1851], the most exhibited so-called „old master? on our planet. Turner in turn, has spawned an elite group of great artists, including Thomas Moran, [1837-1926] “Father of our National Parks” and the Impressionists, perennial public favorites. This “family Tree” we call the Turner Fan Club – see the home page of our website. By highlighting the great artists in Turner?s family tree, this Museum can present an unique insight into history of art in the past two centuries. We fit perfectly into Sarasota's singular leadership in art: wonderfully complementing the Ringling Museum's stellar strengths in the earlier stages of art history, and Ringling College's planned contemporary art muséum. In a historic building, A Guide to information about The Turner Museum and Thomas Moran Galleries. That focus lead to the great honor to be listed among America's top 99 muséums by the Atlantic Monthly, considered the most distinguished magazine in America. >»A rich store of material is available for the asking, such as documents, concert programs and catalogs. >»Additionally, hundreds of Turner and related works are exhibited permanently and can be viewed on our website. >»There are hundreds, if not thousands, of websites relating to the stellar artists in Turner's “family tree”. Documents The following documents we hâve delivered to the City of Sarasota in September 2009 -there to be available for inspection by the City's managers. A. Six illustrated volumes listing our holdings item by item, B. Original 1RS ruling re tax-exempt status C. Original [1976] Turner Muséum flyer, listing ail Trustées, including the Governor of Colorado and the Mayor of Denver D. Letter of endorsement by Evelyn Joli, Président The Turner Society of London, H.R.H. The Prince of Wales Patron E. Best Place to Eat While viewing Art - muséum flyer reproducing text of award presented to the muséum by Colorado's leading weekly. F. Denver Art Muséum - loan agreement re a J.M.W. Turner. G. Affidavit on Intangible Assets [1999]. Other Material. Many hundreds of Turner works are on view at the museum's website: www.turnermusuem.org/Galleries exactly in the form they'll be exhibited in The Turner's new building. Additionally, a great deal of muséum -related material is available on the Muséum Founder's personal website: www.spirit007genius.com. - access this and about a dozen web-pages with références to the Founder. By googling the Founder's name, yet more information can be found. The Turner's présence shall >» solidify Sarasota's cultural leadership in Florida and >» Sarasota's réputation as a heaven for artistic creativity. Conclusion 2 I The Turner Muséum and Thomas Moran Galleries Prospectus I Above documentation confirms The Turner?s reputation as a world-class art museum. As we can confidently assume that Olympic gold medalist is a great athlete - with equal confidence we can assume: The Turner is a great art museum.

INTRODUCTION

The works of our artists have soared at public auctions in recent years. Turner and Moran canvases routinely realize prices in the $12 to $18 million range. Turner also holds the world record for a watercolor [the size of a place-mat!] - 5.8 million pounds [circa $8.7 million], realized at public auction in 2006. His original prints, including the progressive proofs, often annotated with Turner?s corrections and instructions, are becoming scarcer with every passing year. What is unique about us? Our business plan: to be a cash-cow. Founded in 1973 in Denver, then called a “cow-town” and operating in Colorado, “a cultural desert”, our friends predicted failure. We had to be self-sufficient. Out of the furnace of this necessity is born a business plan: to present art to the public by appealing to all our five senses simultaneously. By appealing to our eyes with the art on the wall; to our ears with music, live and piped in classic, [not classical], music; to our nose with the fragrance of flowers and the bouquet of wines; to our taste with gourmet meals and splendid tea parties and to our touch with antique furniture and decorative elements of the highest order; The bottom line: once the museum building is financed, and provided with start-up expenses, every year was profitable. That included our early years when Denver, headquarters for 2,000+ energy firms, [more than in Houston,] was severely hit by a depression caused by the collapse of an oil- boom. Home Museum store Galleries Services BIO Links Blog Treasure Hunt Contact Us Translate this page Microsoft® Translator enCheck out this page intranslated fromTranslated:Original:Automatic translation powered by Microsoft® TranslatorStart translatingStop translatingCloseClose and show original page Our supporters have simple tastes easily satisfied with perfection Important Dates in the History of The Turner Museum AH dates etc. can be further refined by additional research - our history is well documented by art catalogs, concert brochures and other material. 1966 - A MOMA exhibition in New York, 'Imagination and Reality', highlights Turner as the father of the Impressionists, (perennial best-sellers) which turned me on to Turner 1969 - Meet Salvador Dali, whose 'improbable' favorite artist is Turner, tauntingly calls Turner - upon setting eyes on me - “the worst artist”. 1973 - Incorporate my art collection as a non-profit. Purchase a near-ruined mansion in the run-down Capitol Hill district of Denver, with an assumable VA loan, for $500 down, financed by a car loan on my beloved 240Z. 1974 - Phil Anschutz, art collector and legendary wildcatter, loans five of his Thomas Moran oil paintings for our inaugural exhibition at the Denver Club, giving The Turner unchallenged credibility. Birth of my love for Moran and the National Parks; his art was inspired by being a résident of Colorado - 70% of which is public land. 1975 - The three most eminent Turner authorities in the U.K. agrée to serve as Advisory Trustées, giving the baby Turner instant credibility among the arcane British art establishment. 1976 - Organize our first large trend-setting exhibition, Turner and Moran', the first pairing of master and admirer on this planet. First chamber music concert, repeated every year there after, with the identical thème as that year's art exhibition. 1978 - Elected to the board (vice-président) of The Turner Society London, of which Prince Charles is Honorary Patron. 1979 and onward The Turner's cutting-edge exhibitions and musical présentations continue, including Turner's Cosmic Optimism', Turner's Angels' (which tours two other muséums), Turner's Rainbows', (with a large rainbow projected over the two main galleries); Turner's Children - So Much Love' - coinciding with UNESCO's Year of the Children; and Turner's Powerful Allégories'. 1980s - Muséum building, along with entire City block, designated a “historié district”. 1989 and in every annual publication thereafter, of The Atlantic's supplément on America's 99 Finest Art Muséums', The Turner is featured - we reach the pinnacle in this highly compétitive field - on account of our unique way of presenting art to the public! 1993 - The 6 volume monumental illustrated Catalog of The Turner is published, to celebrate its 20th birthday; it lists over 600 prime original prints and more than 60 unique Turner (and Moran) art works. 1998 - Establish www.turnermuseum.org, the first online art muséum on the planet. 1999 - The Turner publishes, the first ever online art book, Triple Turner Treat' which includes the 'Adventures of an art collector', a Turner biography written about his art works and a complète new chronological 'Catalogue of Turner's Prints'. 2003 - Major exhibition, Art Center, Sarasota, “Introducing J.M.W. Turner to Florida'. 2004 - Listed among 'One Thousand Great Americans', (a research compilation by the Biographical Center of Cambridge, England), and in ail subséquent éditions. 2009 - A private collector offers his Turners, with an estimated value of upward of $20 million, including a huge seascape, provided we can properly house them. This kick-starts the présent intensified effort to find a permanent home for The Turner.

How much space do we need?

A minimum of 16,000 sq.ft. - expandable to 55,000+ sq.ft.

On this and the next subject I highly recommend the study of websites relating the current relocation and expansion of the Dali Muséum in St. Petersburg; like: www.dali.org. First a historical note: I followed the Dali's history since the 1970's when Reynie Morse , founder of the Dali Muséum, asked my help to find acceptance of his stunning collection of Dalis in Denver - where The Turner was located at the time. Reynie was rather discouraged that Denver showed not much interest - he hoped Denver would, as his mother lived not far from The Turner Muséum in the Mile High City. The civic leaders of St. Pete must be congratulated for their foresight when success was still on the distant horizon. The enormous successful trackrecord of those highly focused two art muséums, The Turner and the Dali augurs well for the continuing success of both muséums in Florida. The arrangement of carefully designed space, which proved so successful in Denver and now is incorporated in the new Dali Muséum in St. Pete, is as follows: Four levels: [Phase I allows for approx 40% of inventory to be exhibited] *** A conceptual plan of the First Level is included with the hard copies of this Preliminary Prospectus. Phase I - Ground level: Réception area, large Muséum Store, membership office. second level: (above flood zone) "TREASURE CHEST”, crammed with art works valued at up to $20 million or more. A large circular space, with pie-shaped theme-centered galleries-cum-dining rooms; highly reminiscent of a private home (as opposed to a run-of the-mill institutional space); with a central performing art platform, large enough to hold a five member chamber orchestra; also compact space for food préparation. Phase II - Third level: Additional exhibition space, again with a wide range of intimate (not intimidating!) spaces - reminiscent of rooms in a private home - to highlight a single or a few masterpieces, including loan exhibitions. Fourth level - only 5,000 Sq.Ft. - art storage, board room, research library - open by appointment only. Phase III - Top level: Two hospitality and residential suites for the director and for VIP guests and patrons [hugely successful to attract out-of-town patrons and top talent for the director position], one dormitory for up to 6 for overnight volunteers plus Research Library. Complète ground level: Educational theater for lectures, films. The feature of a 24 hour human présence on the site is a big plus for the security of the muséum. The initial content will be worth at least $20 million, rising up to $100 million, and even higher, in the predictable future. In the new Dali Muséum building; now under construction; the above levels are compressed into a building, called the “Treasure Box”, costing $35 million [+ 10 million for the Endowment Fund]. It incorporâtes the latest technologies for hurricane protection. Numbers are good news! Numerous Fédéral and local studies, conducted by the National Endowment of the Arts and local groups hâve resoundingly confirmed the huge économie impact the arts, and specifically art muséums, hâve on our communities. Please consult our sterling Arts Council of Sarasota County's website www.sarasotaarts.org under its Advocacy and Education section for authoritative références. For me, the astounding finding is: we hâve more visitors to art events than to sport venues in America! Studies in Colorado indicated that The Turner brought an above average $155 of business per visitor per year, $1.5 million by approx 10,000 visitors, with a less than 5,000 sq.ft facility Both above numbers are average because of above average prices in our Muséum Store and our flourishing dinner business - $100 (basic, before extras) for a dinner for 2 and a bottle of Champagne = a best- seller. Virtually no funds were spent on publicity due to large incidence of repeat visitors - world-of-mouth advertising kept us busy - and due to a very supportive local média. The St. Petersburg Times reports that at the 80,000 yearly visitor level, the Dali Museum's économie impact was $28 million and at the current 200,000+ visitor level $55+ million. Put another way, the raw cost of the museum's 66,450 sq.ft. new facilities -$35 million - is returned to the community by its yearly économie impact YEAR AFTER YEAR! The proverbial goose that lays the golden eggs AGAIN AND AGAIN! The number of visitors dépends (a) on the quality of the art - ours is second to none; (b) the size of the muséum facility and (c) the funds spent on publicity. Would this be a very compelling argument in favor of building a full sized Turner immediately, rather than in the three phases indicated earlier? You be the judge. My 3 phase solution was low-balled and tailored to local économie conditions, although The Dali already raised well over half - $25 million towards the $35 million cost under similar challenging circumstances and expects the full amount on hand before completion of construction In December 2010. See: www.salvadordalimuseum.org For your guidance the following financing formula did work for The Turner in Denver and in St. Pete for the original Dali: >»a) Nominal rent - “virtually zéro” for both the old and the new Dali and The Turner. >»b) Full funding for the building - the old Dali paid off a 100% “friendly” mortgage well before the 30 year maturity, the new Dali will hâve zéro debt. >»c) Large operating funds provided for the first 12-18 months of opérations - $500,000 for the old Dali, $100,000+ for The Turner in Denver. Once thèse three vital éléments are in place, the goose is ready to lay the golden eggs, year after year

An extraordinary Business

Plan - the basis of confident funding Presenting art to the public by appealing to ail our five sensés simultaneously is the basis for perpétuai positive cash-flow. This muséum protocol is unique, NOT available anywhere else on our planet. Unforgettable memories are created continuously. Two couples report: they got engagea in the Angel Gallery. A Japanese lady kneels down in front of me and in her sweet alto, extolls our art exhibits. Such is the source of repeat business, patrons and donations. Our unique business model créâtes multiple revenues from at least half-a-dozen sources. Thèse include: ***[a] Admissions - guestbook is signed with legible addresses create additions to our mailing lists; +++[b] Museum-Store sales of art works priced in the hundreds of dollars and giclée prints with prices in the $55- 105 area create above-average sales - higher économie impact - higher sales taxes; +++[c] Tea party [called The Duchess' Tea Party”] and dinner tickets - when virtually ail visitors are guided to become muséum members; +++[d] Donations based on ispecial groups (see below); +++[e] Gifts to the Endowment Fund; +++[f] Ticket sales from music lovers attending concerts; +++[g] Beverage - wine and Champagne - sales; +++[h] Books of dinner tickets sold to corporations/businesses at discounted prices; +++ [i] “Turn-key” lease of entire facility for weddings, annual parties and other festivities - hard-working staff gets much deserved time-off; +++0] Sales of surplus electricity to FPL generated by solar panels. That multiplicity and diversity leads to assured and steadily rising cashflow. The above is solidified by a) advance purchases when réservations are made and b) refunds in form of future crédits virtually eliminate bad debts. The breakeven occupancy rate: a stunningly low 15% in the galleries serving meals! The theme-oriented galleries-cum-dining rooms foster new donations by spécifie social/ethnie groups. Due to the abundance of exhibits available, art shows are routinely rotated as conditions dictate. THE TREASURE CHEST A unique,12,000+ Sq.Ft. rotunda, jammed with over 450 exhibits. Designed to create indelible memories. To create, in the words of prominent weekly: “A sensory delight from start to finish.” With visitors happy, perpetual positive cashflow is guaranteed. Many visitors cite the unique experience of being exposed to multiple art forms simultaneously as a motivation for encore visits. All are given an option to make meal reservations at any of our galleries listed below, depending on their artistic, musical and culinary preferences. A – The Marine Gallery – double sized to hang large seascapes - sea-music [Debussy], beach decorations, seafood – appeals to sailors, yachters, Navy veterans, beach-bunnies, rowers. [Turner, the „greatest sea-painter of all time?.] B – The Angel Gallery - provides spiritual art by Turner, vegetarian menu, Gregorian chants, Bach, Christmas carols. Candle-light – appeals to the Romantic and Spiritual in our nature. C – The Moran Gallery - displays Thomas Morans not seen anywhere else – Space to serve Special of the Day meals – in sinc with Sarasota?s devotion to preserving our environment and pristine spaces. D – The Mediterranean Gallery – art displayed in our latest online exhibition “Turner in Italy”. pasta dishes, Greek specialties. Marvelous Italian music for opera-lovers. E – The Rhine Gallery – Masterpieces of music and art inspired by the Rhine: Schumann symphonies, German food and wines, tempting tortes and in-house cakes. . F - Beautiful Scotland Gallery – art for this can be seen in our online exhibition “Beautiful Scotland – Princely Turner” – Highland reels, Mendelsohn symphonies, bagpipe music for the many Sarasotans who remember the City?s Scottish heritage. G – French Rivers Gallery – France: Turner?s second „home? – A highlight: Crystal Cartier chandelier inherited by the museum?s founder - art from our 300+ item collections of Seine and Loire subjects – Splendid views of Paris - French cuisine and wines at their best – French sacred music - Viennese waltzers. H – Mountain Gallery – Morans of the American West, Turners of the Swiss Alps – buffalo steaks – grand symphonies of Florida and the Grand Canyon by Orfe, Delius; of the Alps by Austrian and German composers. J - Architecture Gallery – Castles, cathedrals, fortresses, country mansions. These galleries surround a specially designed concert [performing-arts] stage - Nothing else comes even close…

THREE CRUCIAL CONSIDERATIONS

1. Overriding consideration – the near “impossible” return on a community investment in cultural assets, specifically this art museum. Over 100% annually! See the section „Numbers are good news!? The arithmetic is based on „brick and mortar? investments: that calculation excludes the considerable investment in art objects, made freely available to the community. Those assets are routinely worth many times more than the cost of the facilities. If we would add up their combined worth, the return on those combined assets would be closer to a more “normal” 20+-%. Stated otherwise, the return on ‘brick and mortar’ is highly leveraged by the tangible and intangible assets of art museums, be it The Turner or The Dali. 2. The second consideration: keep it simple - stick to the true and tried formula introduced in the bottom one-third page of the section: „Numbers are good news!? That simple formula rocketed both The Dali and The Turner to the top of the heap. 3. Fairly account for the “returns” – there are at least two returns. The larger return is measured by the economic impact these museums have and continually have on the community. Based on that measurement, the community?s return is that „stratospheric? 100+% detailed earlier. The second return is cold cash return – the sales taxes generated by these institutions. In my view these double returns explain why most communities, including the City of Sarasota and St. Petersburg have charged zero or nominal rents on cultural assets located on City owned land, to the everlasting benefit of their communities! Once established, these geese keep laying those golden eggs, year after year, in perpetuity - all expansions, maintenance are self-financed. Footnote on security The security of the museums needs emphasizing. We expect the museums artistic contents alone will be worth $20+- million when we re-open our doors in Sarasota, with gifts of Turner and Moran masterpieces accelerating after our opening. We expect to end our first decade in Sarasota with an inventory worth up to $100 million, or more. This has been the experience of The Dali in St. Pete, The Turner in Denver and other art museums all over the planet. Submitted for your kind consideration by Douglass Montrose-Graem, Founder in 1973 of The Turner Museum and Thomas Moran Galleries who is solely responsible for its content. e-mail: turnermuseum@turnermuseum.org