2023-10-02T08:38:29-05:00 2022-12-31 366055558 GRANT THORNTON LLP 171 N CLARK ST STE 200 CHICAGO IL 60601 990 2022-01-01 274813461 NAVY PIER INC NAVY 3125957437 600 EAST GRAND AVENUE CHICAGO IL 606113419 MARILYNN GARDNER PRESIDENT/CEO 3125957437 2023-10-02 1 MARILYNN GARDNER XXX-XX-XXXX 0 BRIDGET ROCHE P00666837 3128560200 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARILYNN GARDNER 600 EAST GRAND AVENUE CHICAGO IL 606113419 70810330 0 X WWW.NAVYPIER.ORG X 2011 IL NAVY PIER, CHICAGO'S ICONIC LAKEFRONT DESTINATION AND CULTURAL INSTITUTION, IS (SEE SCHEDULE O) AN ALL-WELCOMING, YEAR-ROUND CIVIC AND CULTURAL DESTINATION WHICH IS FREE TO THE PUBLIC, OFFERING UNIQUE DINING, RETAIL, ENTERTAINMENT AND FREE PROGRAMMING TO NEARLY 9 MILLION GUESTS ANNUALLY, WHILE RELIEVING THE BURDEN OF THE GOVERNMENT TO MAINTAIN AND OPERATE THE HISTORIC DESTINATION. 28 27 568 100 0 0 22904723 14353875 36686123 52139991 8681 67010 2594565 3809890 62194092 70370766 0 0 0 0 7394403 12370679 402000 32500 1348052 41873628 58764932 49670031 71168111 12524061 -797345 199546550 198751682 80990133 80114129 118556417 118637553 X NAVY PIER IS THE "PEOPLE'S PIER" FULFILLING VISIONARY DANIEL BURNHAM'S EDICT THAT CHICAGO'S MAGNIFICENT LAKEFRONT REMAIN OPEN AND AVAILABLE TO THE PEOPLE OF CHICAGO. THROUGH 50 ACRES OF PARKS AND UNMATCHED VIEWS OF THE CELEBRATED SKYLINE TOUCHING THE ENDLESS (SEE SCHEDULE O)SHORELINE, NAVY PIER ENGAGES LOCALS AND VISTORS ALIKE WITH DYNAMIC AND ECLECTIC EXPERIENCES THROUGH PARTNERSHIPS AND PROGRAMS THAT INSPIRE DISCOVERY AND WONDER. 0 0 64091234 0 52139991 AS AN ICON OF THE CITY, NAVY PIER IS FIRMLY ROOTED IN CHICAGO'S VIBRANT CULTURE, UNIQUE SKYLINE, AND CONNECTED COMMUNITIES. THE LONGEST PIER IN THE WORLD, NAVY PIER IS A VITAL ECONOMIC ENGINE AND PROUD FIRST EMPLOYER, PROVIDING SPACE AND EXPOSURE FOR SMALL AND LOCALLY-OWNED BUSINESSES AND CREATING EMPLOYMENT OPPORTUNITIES FOR 3,000 PEOPLE, OFTEN WITH UNIQUE JOB-SKILLS TRAINING AND CAREER DEVELOPMENT. NAVY PIER PROVIDES A YEAR-ROUND WORLD-CLASS PLATFORM FOR CHICAGO'S CULTURAL COMMUNITY, PARTNERING WITH MORE THAN 1,000 INDIVIDUAL ARTISTS AND HUNDREDS OF PERFORMING ORGANIZATIONS THAT REFLECT THE RICH DIVERSITY OF CHICAGO AND ITS NEIGHBORHOODS. NAVY PIER IS HOME TO TENANT NONPROFIT PARTNERS CHICAGO SHAKESPEARE THEATER, CHICAGO CHILDREN'S MUSEUM, AND CHICAGO PUBLIC MEDIA AND PRODUCES ARTS, CULTURE, AND (SEE SCHEDULE O) ENGAGEMENT (ACE) PROGRAMMING TO INSPIRE, EDUCATE, AND CONNECT ARTISTS TO AUDIENCES. NAVY PIER OFFERS SAFE AND ENGAGING EXPERIENCES TO ITS GUESTS, INCLUDING THE LAUNCH OF DARING NEW INITIATIVES SUCH THE CHICAGO LIVE PERFORMANCE FESTIVAL.HIGHLIGHTS INCLUDE:- NAVY PIER'S MOST POPULAR FREE PROGRAMS, SUCH AS LIVE ON THE LAKE! (LIVE MUSIC SERIES); WAVE WALL WAX (DJ SERIES); SUMMER FITNESS (EXERCISE AND YOGA SERIES); WATER FLICKS (OUTDOOR FILM SERIES); NAVY PIER PRIDE (ANNUAL LGBTQ+ PRIDE CELEBRATION); WATER COLORS (LIVE JAZZ MUSIC SERIES); AND MORE.- LATINXT: A TWO-DAY LATIN MUSIC FESTIVAL FEATURING NEXT-GENERATION, TRADITION-BENDING MUSIC FROM LOCAL AND INTERNATIONAL LATINX ARTISTS.- FRESH FEST! A SHOWCASE FEATURING TALENTED LOCAL YOUTH.- CHI-SOUL FEST: A TWO-DAY MUSIC FESTIVAL FEATURING AND CELEBRATING CHICAGO'S NEWEST AND LEGENDARY SOUL ARTISTS. - CHICAGO LIVE: A FREE EVENT FEATURING OVER 60 OF CHICAGO'S WORLD-RENOWNED PERFORMANCE ORGANIZATIONS.- SAILGP: A HIGH-SPEED ADRENALINE-CHARGED RACE FEATURING INTERNATIONAL SAILING TEAMS. SAILGP IS HELD ON LAKE MICHIGAN AND NAVY PIER PROVIDES THE BEST VIEW TO SEE THE RACE.NAVY PIER IS GOVERNED BY A 28-MEMBER VOLUNTEER BOARD OF DIRECTORS CONSISTING OF BUSINESS AND CIVIC LEADERS, CONTINUES TO OPERATE DILIGENTLY UNDER THE CORE VALUES OF EXCELLENCE, INCLUSION, STEWARDSHIP, AND INTEGRITY. 0 0 0 0 0 0 0 0 0 64091234 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 370 0 1 568 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 27 1 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X X JEFFREY BROWN 3125955205 600 EAST GRAND AVENUE CHICAGO IL 606113419 MARILYNN GARDNER PRESIDENT & CEO 37.50 0.00 X X 597678 0 61439 WILLIAM J BRODSKY CHAIRPERSON 5.00 0.00 X X 0 0 0 NORMAN R BOBINS VICE CHAIRPERSON (THRU 01/2022) 5.00 0.00 X X 0 0 0 JENNIFER STEANS VICE CHAIR 5.00 0.00 X X 0 0 0 MICHELLE L COLLINS SECRETARY 5.00 0.00 X X 0 0 0 JILL GRIEBENOW TREASURER AS OF 01/2022 5.00 0.00 X X 0 0 0 LISA KONIK ARONIN DIRECTOR 1.00 0.00 X 0 0 0 JEFF BETHKE EX-OFFICIO 1.00 0.00 X 0 0 0 JAMES BLAIR DIRECTOR 1.00 0.00 X 0 0 0 DOUGLAS R BROWN DIRECTOR (THRU 01/2022) 1.00 0.00 X 0 0 0 JOHN BUCKSBAUM DIRECTOR 1.00 0.00 X 0 0 0 GISSELLE CASTILLO-VERMIS DIRECTOR 1.00 0.00 X 0 0 0 GERY J CHICO DIRECTOR 1.00 0.00 X 0 0 0 LARITA CLARK EX-OFFICIO 1.00 0.00 X 0 0 0 RICARDO ESTRADA DIRECTOR 1.00 0.00 X 0 0 0 SCOTT GOODMAN DIRECTOR 1.00 0.00 X 0 0 0 SANDRA P GUTHMAN DIRECTOR 1.00 0.00 X 0 0 0 DEAN M HARRISON DIRECTOR 1.00 0.00 X 0 0 0 ADAM L HOEFLICH DIRECTOR (THRU 12/2022) 1.00 0.00 X 0 0 0 JOHN O HUDSON III DIRECTOR (THRU 12/2022) 1.00 0.00 X 0 0 0 STEVE KOCH DIRECTOR 5.00 0.00 X 0 0 0 CONNIE LINDSEY DIRECTOR (THRU 12/2022) 1.00 0.00 X 0 0 0 LAURA KEIDAN MARTIN DIRECTOR 1.00 0.00 X 0 0 0 RODGER KILEY EX-OFFICIO (THRU 06/2022) 1.00 0.00 X 0 0 0 CHARLES R MATTHEWS DIRECTOR (THRU 12/2022) 1.00 0.00 X 0 0 0 RICHARD S PRICE DIRECTOR 1.00 0.00 X 0 0 0 JORGE RAMIREZ DIRECTOR 1.00 0.00 X 0 0 0 BRIDGET REIDY DIRECTOR 1.00 0.00 X 0 0 0 SANDRA REYNOLDS DIRECTOR (THRU 02/2022) 1.00 0.00 X 0 0 0 SMITA SHAH DIRECTOR 1.00 0.00 X 0 0 0 JOHN H SIMPSON DIRECTOR 1.00 0.00 X 0 0 0 ERIC SMITH DIRECTOR 1.00 0.00 X 0 0 0 EMILY HEISLEY STOECKEL DIRECTOR 1.00 0.00 X 0 0 0 ROBIN LOEWENBERG TEBBE DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL A TOOLIS DIRECTOR 1.00 0.00 X 0 0 0 KELLY R WELSH DIRECTOR 1.00 0.00 X 0 0 0 CHONA MAGLAYA VP AND ASST SEC'Y 37.50 0.00 X 180124 0 11837 JEFFREY BROWN CFO & ASST. TREASURER 37.50 0.00 X 299024 0 24722 BRIAN MURPHY CHIEF OPERATING OFFICER 37.50 0.00 X 387314 0 60440 ARNALDO RIVERA CHIEF ADMIN. & EQUITY OFF. 37.50 0.00 X 258317 0 17069 SETH KAGY GENERAL MANAGER 37.50 0.00 X 205740 0 54732 MICHAEL DEGNAN SVP OF OPERATIONS 37.50 0.00 X 193946 0 55350 DAN MITCHELL VP OF CONTRUCTION 37.50 0.00 X 192856 0 57228 AMANDA WILLARD VP OF MARKETING & COMMUNICATIONS 37.50 0.00 X 205028 0 25358 ERIKA TAYLOR VP OF ARTS, CULTURE & ENGAGEMENT 37.50 0.00 X 173273 0 48235 2693300 0 416410 29 0 1 0 LEVY RESTAURANTS 980 NORTH MICHIGAN AVENUE CHICAGO IL 60611 CATERING 7509941 ABM PARKING SERVICES 180 NORTH LASALLE STREET SUITE 170 CHICAGO IL 60601 CONTRACTED SERVICES 4625276 ARAMARK GLOBETROTTERS LLC 2301 S LAKE SHORE DRIVE CHICAGO IL 60616 HOUSEKEEPING 4488462 A-1 ROOFING 1425 CHASE AVENUE ELK GROVE VILLAGE IL 60007 CONSTRUCTION 4460503 ALLIED UNIVERSAL SECURITY 55 EAST JACKSON BOULEVARD CHICAGO IL 60604 SECURITY 2821028 51 X 1106252 8422132 4825491 31470 14353875 USE OF EXHIBIT FACILITIES 532000 13962684 13962684 RETAIL 459420 12458758 12458758 PIER PARK AMUSEMENTS 713110 12061298 12061298 PUBLIC PARKING 480000 11680545 11680545 PROGRAM EVENTS 900099 1976706 1976706 52139991 52129 52129 100000 4500 89619 0 10381 4500 14881 14881 91969 1106252 349945 -257976 -257976 SPONSORSHIPS 532000 2736969 2736969 FACILITY FEES 532000 1172923 1172923 SUSTAINABILITY REBATE 900099 42054 42054 115920 115920 4067866 70370766 52139991 0 3876900 X 1722457 490641 1000028 231788 7172685 5288864 1651085 232736 1022781 886938 112511 23332 1554495 1329320 179206 45969 898261 736636 126869 34756 19184499 19064341 14174 105984 414804 414804 138860 138860 32500 32500 11527321 10338358 764107 424856 2940519 2827434 67229 45856 1013293 902585 108725 1983 1066832 669735 373558 23539 7585485 7140611 392044 52830 133683 71157 46849 15677 2241851 2208683 22112 11056 10511785 10354110 105117 52558 1615379 1498425 109618 7336 DUES & SUBSCRIPTIONS 65465 26275 37225 1965 TRAINING 37170 25414 9631 2125 287986 231707 55073 1206 71168111 64091234 5728825 1348052 21026093 9679768 282931 1562725 6073336 5833843 4503509 2111991 774378 932876 231385125 67267329 166003283 164117796 883020 14512683 199546550 198751682 5695473 8113912 7439592 6668075 40863001 40913249 25092264 22864451 1899803 1554442 80990133 80114129 X 111800107 110264261 6756310 8373292 118556417 118637553 199546550 198751682 X -797345 82922 795559 X 0 1 X 1 1 1 X 2065425 2402511 4544012 22904723 14353875 46270546 2065425 2402511 4544012 22904723 14353875 46270546 8560512 37710034 443764 291107 121350 8681 52128 917030 0 0 0 19850 0 19850 636482 186756 2594565 4159835 7577638 54785064 221592157 0.68830 0.77320 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 153,636. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 91,969. MISCELLANEOUS INCOME - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 482,846. 2020 AMOUNT: $ 186,756. 2021 AMOUNT: $ 411,968. 2022 AMOUNT: $ 115,920. SUSTAINABILITY REBATE - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 71,541. 2022 AMOUNT: $ 42,054. SPONSORSHIPS FACILITY FEES - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 1,748,556. 2022 AMOUNT: $ 3,909,892. INSURANCE RECOVERY - 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 362,500. 2022 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 187807072 52672330 135134742 32208014 12683114 19524900 11370039 1911885 9458154 164117796 ADVANCED DEPOSITS 1554442 1554442 X 71662882 82922 63691 795559 942172 70720710 -349945 -349945 70370765 71581746 63691 349945 413636 71168110 0 71168110 PART X, LINE 2: NPI HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THAT IT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISION OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, EXCEPT FROM INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME. THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED GUIDANCE THAT REQUIRES TAX EFFECTS FROM UNCERTAIN TAX POSITIONS TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. THERE ARE NO INTEREST OR PENALTIES RECOGNIZED IN THE FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF INTEREST RATE SWAP 795,559. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -349,945. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 349,945. X X X X X X X 1 PJH & ASSOCIATES 205 WEST WACKER DRIVE CHICAGO IL 60606 PROFESSIONAL FUNDRAISING CONSULTING FOR 2022 GALA 0 1168254 75529 1168254 COMMUNITY COUNSELLING SERVICE CO LLC 527 MADISON AVENUE 5TH FLOOR NEW YORK NY 10022 PROFESSIONAL FUNDRAISING CONSULTING FOR CAMPAIGN 0 1008641 32500 1008641 2176895 108029 2176895 IL GALA 2022: A NEW EXPERIENCE 1168254 1087254 81000 0 0 29800 118542 5000 174120 AB WHISKEY TASTING 8281 4143 4138 0 0 0 4100 0 13 2 21686 14855 6831 0 0 0 14127 1200 3043 1198221 1106252 91969 29800 136769 6200 177176 349945 -257976 PART I, LINE 2B(I): FUNDRAISING SERVICES PATRICIA HURLEY AND ASSOCIATES IS AN ESTABLISHED FUNDRAISING CONSULTING FIRM THAT WAS HIRED TO SUPPORT NAVY PIER'S ANNUAL GALA HELD ON SEPTEMBER 28, 2022. THEIR SERVICES INCLUDED SPECIAL EVENT SUPPORT, VENDOR RELATIONS, CONTRACT REVIEW, FUNDRAISING GUIDANCE, AND COMMUNICATION DEPLOYMENT. COMMUNITY COUNSELLING SERVICE CO. LLC (CCS) WAS HIRED AS A FUNDRAISING CONSULTANT FOR A FUNDRAISING CAMPAIGN THAT STARTED IN DECEMBER 2020 AND LASTED THROUGH JANUARY 2022. FEES PAID IN 2022 REFLECT THE FINAL PAYMENTS FOR SERVICES TO CONCLUDE THE FUNDRAISING CAMPAIGN STARTED IN 2020. X X X X X 0 0 0 0 0 0 0 1 0 MARILYNN GARDNER PRESIDENT & CEO 445064 0 151200 0 1414 0 18300 0 43139 0 659117 0 0 0 BRIAN MURPHY CHIEF OPERATING OFFICER 309776 0 77000 0 538 0 18300 0 42140 0 447754 0 0 0 JEFFREY BROWN CFO & ASST. TREASURER 243880 0 55000 0 144 0 18242 0 6480 0 323746 0 0 0 ARNALDO RIVERA CHIEF ADMIN. & EQUITY OFF. 235817 0 22500 0 0 0 15499 0 1570 0 275386 0 0 0 SETH KAGY GENERAL MANAGER 205626 0 0 0 114 0 12742 0 41990 0 260472 0 0 0 DAN MITCHELL VP OF CONTRUCTION 191984 0 0 0 872 0 12346 0 44882 0 250084 0 0 0 MICHAEL DEGNAN SVP OF OPERATIONS 193378 0 0 0 568 0 12319 0 43031 0 249296 0 0 0 AMANDA WILLARD VP OF MARKETING & COMMUNICATIONS 205028 0 0 0 0 0 12600 0 12758 0 230386 0 0 0 ERIKA TAYLOR VP OF ARTS, CULTURE & ENGAGEMENT 173218 0 0 0 55 0 10731 0 37504 0 221508 0 0 0 CHONA MAGLAYA VP AND ASST SEC'Y 180000 0 0 0 124 0 10800 0 1037 0 191961 0 0 0 PART I, LINE 7 NON-FIXED PAYMENTS INCENTIVE PAYMENTS WERE BASED ON PRE-ESTABLISHED METRICS AND SUBJECT TO REVIEW AND APPROVAL BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. A IL FINANCE AUTHORITY REV BONDS 861091967 2014-12-16 26500000 EQUIPMENT/CAPITAL PROJECTS/WHEEL 0 0 0 B IL FINANCE AUTHORITY REV BONDS 861091967 2017-10-12 19250000 REFUND PRIOR ISSUE FROM 12/16/14 0 0 0 A 2749710 26695389 26695389 2017 0 0 1 1 B 2188580 19257223 1005453 18251770 2017 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 1 0 0 0 1 A 1 B 1 SCHEDULE K, PART I, COLUMN F: COLUMN A: $26,684,702 OF THE PROCEEDS WERE USED TO MANUFACTURE AND INSTALL A NEW OBSERVATION WHEEL AND COMPLETE NECESSARY STRUCTURAL IMPROVEMENTS. COLUMN B: $18,251,770 OF THE LOAN WAS USED TO REFUND A PRIOR ISSUE AND $1,003,057 WAS USED TO COMPLETE CAPITAL PROJECTS INCLUDING CONSTRUCTION OF A LIVE PERFORMANCE THEATRE. THIS BOND WAS ISSUED ON 10/12/2017 AS A REFUND FOR A PRIOR ISSUE. PROCEEDS: THE VARIANCE BETWEEN PROCEEDS IN PART I AND PROCEEDS IN PART II LINE 3, IS INTEREST EARNINGS ON THE PROCEEDS. PATRICK GARDNER SPOUSE OF PRESIDENT & CEO 39915 EMPLOYEE OF NAVY PIER, INC. 0 SCHEDULE L, PART IV, LINE 1: BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONSPATRICK GARDNER IS A PART-TIME STAGEHAND EMPLOYEE OF NAVY PIER, INC. AND IS THE HUSBAND OF MARILYNN GARDNER, WHO CURRENTLY SERVES AS NAVY PIER, INC'S. PRESIDENT AND CEO. MRS. GARDNER HAS NO DIRECT INVOLVEMENT IN THE DETERMINATION OF MR. GARDNER'S COMPENSATION OR SCHEDULING. HIS RATE OF PAY IS DETERMINED BY A COLLECTIVE BARGAINING AGREEMENT, AND SCHEDULE IS DETERMINED BASED ON LABOR REQUIREMENTS OF OUTSIDE SHOWS AND EVENTS USING THE PIER'S FACILITY. X EQUIPMENT 0 31470 FMV 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED IN SCHEDULE M, PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 2 PATRICK GARDNER IS A PART-TIME STAGEHAND EMPLOYEE OF NAVY PIER, INC. AND IS THE HUSBAND OF MARILYNN GARDNER, WHO CURRENTLY SERVES AS NAVY PIER, INC'S. PRESIDENT AND CEO. MRS. GARDNER HAS NO DIRECT INVOLVEMENT IN THE DETERMINATION OF MR. GARDNER'S COMPENSATION OR SCHEDULING. HIS RATE OF PAY IS DETERMINED BY A COLLECTIVE BARGAINING AGREEMENT, AND SCHEDULE IS DETERMINED BASED ON LABOR REQUIREMENTS OF OUTSIDE SHOWS AND EVENTS USING THE PIER'S FACILITY. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OR STAKEHOLDERS WHO MAY ELECT UNDER THE LEASE AGREEMENT BETWEEN NAVY PIER, INC. AND THE METROPOLITAN PIER AND EXPOSITION AUTHORITY (MPEA), THE CHAIR OF THE BOARD, THE SECRETARY-TREASURER AND THE CHIEF EXECUTIVE OFFICER OF MPEA ARE REQUIRED TO BE VOTING MEMBERS OF NAVY PIER, INC.'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED BY NAVY PIER, INC.'S VICE PRESIDENT OF FINANCE AND ASSISTANT CONTROLLER AND AN OUTSIDE CPA FIRM. THE FORM 990 IS REVIEWED BY NPI'S CFO, PRESIDENT AND CEO, AND FINANCE COMMITTEE PRIOR TO FINAL APPROVAL OF THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY NAVY PIER MAINTAINS A CONFLICT-OF-INTEREST POLICY COVERING DIRECTOR, OFFICER, MEMBER OF A COMMITTEE OF THE BOARD OF DIRECTORS OF NAVY PIER, INC., OR KEY EMPLOYEE (AS DEFINED BY THE IRS IN INSTRUCTIONS FOR FROM 990) WHICH REQUIRES DISCLOSURE OF FINANCIAL INTERESTS THAT PRESENT A POTENTIAL CONFLICT OF INTEREST AS DEFINED IN THE POLICY. ANNUAL ATTESTATIONS ARE REQUIRED AS WELL AS IMMEDIATE DISCLOSURE IF A POTENTIAL CONFLICT ARISES. THE BOARD OF DIRECTORS ADJUDICATES IF A CONFLICT EXISTS AND IF THE TRANSACTION SHOULD PROCEED BASED UPON THE BEST INTEREST OF THE COMPANY. NAVY PIER, INC. ALSO MAINTAINS A WHISTLEBLOWER POLICY THAT INCLUDES THE ABILITY TO PROVIDE ANONYMOUS INFORMATION VIA A HOTLINE. SUCH INFORMATION IS REPORTED TO THE HEAD OF PEOPLE AND CULTURE. THIS PERSON MAKES A RECORD OF THE COMPLAINT, CONDUCTS AN INVESTIGATION, MAKES FINDINGS AND RECOMMENDS OR IMPLEMENTS CORRECTIVE ACTION IF APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 PROCESS OF DETERMINING COMPENSATION THE EXECUTIVE COMMITTEE REVIEWS THE GOALS AND PERFORMANCE OF THE PRESIDENT AND CEO AND SENIOR MANAGEMENT. THE COMMITTEE ALSO RETAINS AN INDEPENDENT CONSULTANT WHO CONDUCTS AN INDEPENDENT EVALUATION USING COMPENSATION DATA OF THE COMPARABLE KEY EMPLOYEES AT LOCAL AND NATIONAL PEER INSTITUTIONS. THE MOST RECENT COMPENSTAION SURVEY WAS CONDUCTED IN 2022. THE EXECUTIVE COMMITTEE REVIEWS THE INFORMATION PROVIDED BY THE INDEPENDENT CONSULTANT AND APPROVES RECOMMENDATIONS FROM THE PRESIDENT AND CEO FOR COMPENSATION OF KEY EMPLOYEES. THE EVALUATIONS, REVIEWS, COMMENTS AND DECISIONS ARE DOCUMENTED IN THE MINUTES OF THE EXECUTIVE COMMITTEE. THE PRESIDENT AND CEO REVIEWS THE GOALS AND PERFORMANCE OF SENIOR STAFF AND REVIEWS THE COMPENSATION DATA OF THE COMPARABLE KEY EMPLOYEES OF WHICH RECOMMENDATIONS ARE REVIEWED, MODIFIED AND APPROVED BY THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY, AND THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VIII, LINE 1E: GOVERNMENT GRANTS OF $8,422,132 CONSIST OF CITY, STATE AND FEDERAL AGENCY FUNDING. NPI RECEIVES NO ON-GOING FINANCIAL SUPPORT FROM ANY CITY, STATE OR FEDERAL AGENCY TO SUPPORT ITS GENERAL OPERATIONS. IN 2021, THE ILLINOIS DEPARTMENT OF COMMERCE AND ECONOMIC OPPORTUNITY AWARDED NPI A GRANT UNDER THE CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS PROGRAM FUNDED BY THE UNITED STATES DEPARTMENT OF THE TREASURY THROUGH THE AMERICAN RESCUE PLAN ACT IN THE AMOUNT OF $8,000,000. THE GRANT FUNDED ELIGIBLE EXPENSES AND IS INCLUDED IN GOVERNMENT GRANTS IN THE 2022 FORM 990. THE FEDERAL EMERGENCY MANAGEMENT AGENCY ("FEMA") AWARDED SEVERAL GRANTS UNDER THE SAME PORT SECURITY GRANT PROGRAM TO NPI TO SUPPORT SAFETY UPGRADES TO NAVY PIER, OF WHICH $412,363 IS INCLUDED IN GOVERNMENT GRANTS IN THE 2022 FORM 990. THE FEMA GRANTS REQUIRED NPI TO CONTRIBUTE A MATCH IN ORDER TO RECEIVE THE FUNDS. FORM 990, PART IX, LINE 11G SECURITY: PROGRAM SERVICE EXPENSES 3,758,615. TOTAL EXPENSES 3,758,615. HOUSEKEEPING: PROGRAM SERVICE EXPENSES 3,418,465. TOTAL EXPENSES 3,418,465. OTHER FEES: PROGRAM SERVICE EXPENSES 3,161,278. MANAGEMENT AND GENERAL EXPENSES 764,107. FUNDRAISING EXPENSES 424,856. TOTAL EXPENSES 4,350,241. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 795,559.