2023-11-09T07:51:35-06:00 2023-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2022-07-01 560529944 DISCOVERY PLACE INC DISC 7043481964 301 NORTH TRYON STREET CHARLOTTE NC 28202 CATHERINE WILSON HORNE CHIEF EXECUTIVE OFFICER 7043481964 2023-11-07 1 CATHERINE WILSON HORNE 999009999 0 PAULA WENDLING P00536805 7043771678 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z CATHERINE WILSON HORNE 301 NORTH TRYON STREET CHARLOTTE NC 28202 19767034 0 X WWW.DISCOVERYPLACE.ORG X 1947 NC TRANSFORMATIVE SCIENCE, NATURE, AND DESIGN EXPERIENCES PROVIDED FOR OVER 360,000 GUESTS. 30 30 242 210 46960 20699 9983774 9656093 4743163 8647028 -147527 201432 633564 1071985 15212974 19576538 0 0 0 0 6801894 8799146 0 0 783755 5363086 6681901 12164980 15481047 3047994 4095491 120059399 125480419 4131013 4829104 115928386 120651315 X WE BRING SCIENCE, NATURE, AND DESIGN TOGETHER TO CREATE TRANSFORMATIVE EXPERIENCES THAT ENABLE OUR COMMUNITY TO UNDERSTAND, ENJOY, AND APPLY SCIENCE TO THEIR LIVES. 0 0 12615461 9672053 EDUCATIONAL PROGRAMS, EXPERIENCES AND EXHIBITS: DISCOVERY PLACE, INC. OPERATES FOUR MUSEUMS SERVING OVER 672,261 GUESTS ANNUALLY INCLUDING NEARLY 95,400 THROUGH AN ECONOMIC ACCESSIBILITY PROGRAM CALLED THE WELCOME PROGRAM. SINCE 2019, WE HAVE GROWN THE WELCOME PROGRAM BY 30,000 VISITS.SIGNIFICANT PROGRESS WAS MADE ON ONE CAPITAL FACILITIES PROJECT IN FISCAL YEAR 2023: THE CONSTRUCTION DOCUMENT PHASE WAS COMPLETED FOR THE NEW DISCOVERY PLACE NATURE FACILITY SCHEDULED TO OPEN IN MID/LATE 2026. DURING FISCAL YEAR 2023, WE RECOGNIZED RESTRICTED CONTRIBUTION REVENUE RELATED TO THE FUTURE CONSTRUCTION OF DISCOVERY PLACE NATURE AND INCURRED INCREMENTAL EXPENSES TO SUPPORT THE DEVELOPMENT EFFORTS OF CAPITAL FACILITIES PROJECTS. ADDITIONALLY, DISCOVERY PLACE INVESTED IN A RENOVATION AND UPGRADE OF OUR IMAX THEATER WHICH WAS COMPLETED IN EARLY 2023. THESE ACTIVITIES ARE REFLECTED IN THE OVERALL REVENUE AND SUPPORT. MARVEL: UNIVERSE OF SUPERHEROS: 24,466DISCOVERY PLACE OPENED MARVEL: UNIVERSE OF SUPERHEROES IN MAY 2023. THIS IS THE FIRST LARGE SCALE TRAVELING BLOCKBUSTER EXHIBITION HOSTED SINCE 2018. SINCE IT OPENED IN MAY, WE WELCOMED OVER 24,000 VISITORS TO THIS SHOW FEATURING ORIGINAL ART, COSTUMES, AND ARTIFACTS FROM THE MARVEL UNIVERSE. IMAX: 59,211IN FISCAL YEAR 2023, DISCOVERY PLACE OPERATED THE ACCENTURE IMAX DOME THEATER FEATURING IMAX LASER PROJECTION, A 12-CHANNEL SOUND SYSTEM, AND DIGISTAR 7 PLANETARIUM SOLUTION. THIS YEAR THE ATTENDANCE MORE THAN DOUBLED. THE PROGRAMMING INCLUDED FIRST-RUN HOLLYWOOD FILMS, DOCUMENTARIES, AND ALTERNATIVE CONTENT SUCH AS MESMERICA. WE CONTINUED TO SEE THESE OFFERINGS ATTRACT NEW AUDIENCES, ESPECIALLY ADULTS.OUTREACH/YOUTH DEVELOPMENT/SUMMER CAMPS/WORKSHOPS: 65,999OUTREACH AND THE DIGITAL STUDIO PROGRAMMING SERVED OVER 27,967 STUDENTS IN FISCAL YEAR 2023. BEYOND SCHOOL DAY PROGRAMS, THIS WAS A STRONG YEAR WITH MULTIPLE AFTERSCHOOL CONTRACTS ALLOWING US TO SERVE YOUTH IN OUR COMMUNITY WITH STEM HANDS-ON LEARNING OVER MULTIPLE VISITS, WHICH PROVIDES A DEEPER DIVE FOR STUDENTS. YOUTH DEVELOPMENT PROGRAMMING IN FISCAL YEAR 2023 INCLUDED SEVERAL PROGRAMS TARGETING YOUTH IN MIDDLE - HIGH SCHOOL. THE STEM APPRENTICE PROGRAM WAS ABLE TO ONBOARD 280 VOLUNTEERS TO ASSIST WITH CAMP AND MUSEUM PROGRAMMING, INCLUDING 2 MAYORS YOUTH EMPLOYMENT INTERNS. GIRLS DAY OUT SUCCESSFULLY SERVED 632 FEMALE STUDENTS OVER 12 ENGAGEMENTS THROUGH ON-SITE PROGRAMMING FOCUSED ON CAREERS IN STEM. CLUB CODE OFFERED 10 STUDENTS THE OPPORTUNITY TO BUILD AND CODE THEIR OWN VIDEO GAME. HACKATHON OFFERED 45 MIDDLE SCHOOL STUDENTS THE OPPORTUNITY TO BUILD AND PROGRAM ROBOTS. YOUTH DEVELOPMENT SERVED OVER 967 STUDENTS DURING FY23. LEGO DISCOVERY THROUGH DESIGN PROGRAMMING INCLUDED COMMUNITY OUTREACH WITH COMMUNITY PARTNERS AND THEIR STUDENTS, IN ADDITION TO IMPACTING VISITORS TO DISCOVERY PLACE MUSEUMS. THROUGH THIS GRANT 34,935 YOUTH AND 1,072 ADULTS WERE SERVED IN THE COMMUNITY OUTREACH BRANCH. PARTICIPANTS PARTICIPATED IN PROFESSIONAL DEVELOPMENT TRAINING, AFTERSCHOOL WORKSHOPS, FIELD TRIPS TO DISCOVERY PLACE SCIENCE AND DISCOVERY PLACE KIDS HUNTERSVILLE, AND A CULMINATING SHOWCASE. SUMMER CAMPS SERVED 1,058 CHILDREN ACROSS THREE DISCOVERY PLACE LOCATIONS - SCIENCE, NATURE AND KIDS. IT WAS ANOTHER SUCCESSFUL SEASON OF LEARNING WITH WEEKLY THEMES FOR CHILDREN IN PREK-8TH GRADE. SCIENCE ON THE ROCKS: 6,114IN FISCAL YEAR 2023, DISCOVERY PLACE RELAUNCED SCIENCE ON THE ROCKS IN JANUARY 2023. THIS IS A PROGRAM DESIGNED FOR INDIVIDUALS 21+ YEARS OF AGE. SCIENCE ON THE ROCKS IS AN EVENING PROGRAM WHICH FEATURES ACCESS TO MUSEUM EXHIBITS, HANDS-ON SCIENCE EXPERIENCES, LIVE SHOWS, LIVE MUSIC, IMAX OFFERINGS, WORKSHOPS, FOOD AND BEVERAGE AND MORE. THE EVENT HAS ALLOWED US TO REACH NEW ADULT AUDIENCES AND HAS BEEN SOLD OUT SINCE ITS RETURN.DISCOVERY PLACE KIDS SPECIAL PROGRAMMING : 1,654IN ADDITION TO OUR DAILY PROGRAMMING, BOTH DISCOVERY PLACE KIDS RELAUNCHED SOME OF OUR SIGNATURE EVENTS. THESE EVENTS INCLUDE COUNTDOWN TO KINDERGARTEN AND NOON YEARS EVE. COUNTDOWN TO THE KINDERGARTEN IS A KINDERGARTEN READINESS EVENT THAT OCCURS IN PARTNERSHIP WITH OUR LOCAL SCHOOL SYSTEMS. IT PROVIDES A GREAT OPPORTUNITY FOR OUR RISING KINDERGARTENERS TO MEET THEIR TEACHERS AND SEE A FAMILIAR FACE ON THE FIRST DAY OF SCHOOL. BOTH DISCOVERY PLACE KIDS LOCATIONS WERE ABLE TO SERVE OVER 1,262 GUESTS. DISCOVERY PLACE KID-HUNTERSVILLE ALSO LAUNCED A NEW SCEINCE THEMED HALLOWEEN EVENT CALLED GHOULY GALA. THIS INAUGURAL EVENT SERVED 392 GUESTS. 12615461 1 1 0 0 0 0 0 1 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 68 0 1 242 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 30 30 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC SC X X CATHERINE W HORNE 7043481964 301 NORTH TRYON STREET CHARLOTTE NC 28202 ADITYA BHASIN CHAIR 4.00 0.00 X X 0 0 0 PAUL CAMUTI GOVERNANCE VICE CHAIR 3.00 0.00 X X 0 0 0 BRYAN DELANEY EXTERNAL AFFAIRS CO-VICE CHAIR 3.00 0.00 X X 0 0 0 STEPHANIE SADOWSKI EXTERNAL AFFAIRS CO-VICE CHAIR 3.00 0.00 X X 0 0 0 FRANK CHATMAN INTERNAL AFFAIRS CO-VICE CHAIR 3.00 0.00 X X 0 0 0 NAZY WEEKS INTERNAL AFFAIRS CO-VICE CHAIR 3.00 0.00 X X 0 0 0 ALFRED DAWSON AUDIT VICE CHAIR 3.00 0.00 X X 0 0 0 DAVID ATKINSON HUMAN CAPITAL VICE CHAIR 3.00 0.00 X X 0 0 0 STEFANIE HOLLAND SECRETARY 3.00 0.00 X X 0 0 0 REEM ANANI TRUSTEE 2.00 0.00 X 0 0 0 JOCLYN BALANDA TRUSTEE 2.00 0.00 X 0 0 0 JASON BERND TRUSTEE 2.00 0.00 X 0 0 0 TERA BLACK TRUSTEE 2.00 0.00 X 0 0 0 LAURA BOWLES TRUSTEE 2.00 0.00 X 0 0 0 RICH CAMPBELL TRUSTEE 2.00 0.00 X 0 0 0 JIM DUNN TRUSTEE 2.00 0.00 X 0 0 0 DOUG EASMANN TRUSTEE 2.00 0.00 X 0 0 0 MARTY FOLEY TRUSTEE 2.00 0.00 X 0 0 0 TODD GORELICK TRUSTEE 2.00 0.00 X 0 0 0 LINDSAY MCCULLOUGH TRUSTEE 2.00 0.00 X 0 0 0 CHARLIE MORRIS TRUSTEE 2.00 0.00 X 0 0 0 CHRIS PERRI TRUSTEE 2.00 0.00 X 0 0 0 SAGAR RATHIE TRUSTEE 2.00 0.00 X 0 0 0 HOLLY STUBBING TRUSTEE 2.00 0.00 X 0 0 0 RICK TANKERSLEY TRUSTEE 2.00 0.00 X 0 0 0 SUREH VENKATARAYALU TRUSTEE 2.00 0.00 X 0 0 0 VINOO VIJAY TRUSTEE 2.00 0.00 X 0 0 0 JEFF WALLACE TRUSTEE 2.00 0.00 X 0 0 0 DEREK WANG TRUSTEE 2.00 0.00 X 0 0 0 TOM ZWENG TRUSTEE 2.00 0.00 X 0 0 0 CATHERINE WILSON HORNE CHIEF EXECUTIVE OFFICER 55.00 0.00 X 464606 0 53000 ANNE N IBEKWE CHIEF FINANCIAL OFFICER 55.00 0.00 X 208003 0 30436 TIFFERNEY WHITE CHIEF LEARNING OFFICER (7/1/22-2/21/23) 55.00 0.00 X 135248 0 22983 ERVIN GOURDINE CHIEF TALENT OFFICER 50.00 0.00 X 169597 0 26000 JENNIFER JOYCE CHIEF MARKETING OFFICER 55.00 0.00 X 175885 0 29062 SARAH LANE CHIEF ADVANCEMENT OFFICER 50.00 0.00 X 211973 0 28857 HEATHER NORTON CHIEF SCIENCE OFFICER 55.00 0.00 X 172934 0 17444 DAN STREELMAN CHIEF EXHIBIT AND EXPERIENCE OFFICER 50.00 0.00 X 125751 0 9687 COURTNEY HURD SR DIRECTOR 45.00 0.00 X 124727 0 7267 KEN DAVIDSON CONTROLLER 55.00 0.00 X 117820 0 12532 CHARLES LONG SR DIRECTOR IT 50.00 0.00 X 102388 0 10218 2008932 0 247486 11 0 1 0 SEMMEL CONCERTS MUHLGRABEN 70 BAYREUTH 95445 BAYREUTH GM CONCERTS & ENTERTAINMENT 1565776 KRAEMER DESIGN & PRODUCTION 252 LUDLOW AVE CINCINNATI OH 45220 DESIGN & PRODUCTION 587750 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 28289 JANITORIAL SERVICES 557247 PURPLE ROCK SCISSORS 816 W CHURCH STREET ORLANDO FL 32805 DESIGN 296750 IMAGINE EXHIBITS 2870 PEACHTREE ROAD NW SUITE 418 ATLANTA GA 30305 EXHIBITS 269453 16 2438025 7218068 9656093 ADMISSIONS/WORKSHOPS 713990 6779399 6779399 MEMBERSHIP FEES 713990 1629741 1629741 237888 237888 8647028 109097 109097 92335 0 92335 92335 92335 592664 190496 402168 402168 PARKING REVENUE 532000 669817 622857 46960 669817 19576538 9672053 46960 201432 1746027 729593 775604 240830 5950505 4560911 986106 403488 68696 29538 29538 9620 523816 433022 63499 27295 510102 354039 114140 41923 12056 12056 113072 113072 1141907 1114407 27075 425 1057696 1053757 2758 1181 1238969 1192596 29665 16708 167526 154798 1712 11016 58858 58858 84438 59250 19367 5821 28765 13435 12938 2392 559 2 557 1100209 1099676 533 146500 146500 EXHIBIT/MUSEUM PROGRAMS 1056343 1039056 2834 14453 REPAIRS & MAINTENANCE 223172 221914 1258 PROGRAM SUPPLIES 209301 208152 1149 UBIT 13186 13186 29344 19699 2191 7454 15481047 12615461 2081831 783755 6569846 7128883 290798 1146922 3366212 3549190 286814 1905780 99875 164966 263175 1786207 50083418 37493395 11759759 12590023 189868 196972 9112612 9458336 300000 87820440 87553140 120059399 125480419 1665210 2669216 2465803 2159888 4131013 4829104 X 17155165 17498659 98773221 103152656 115928386 120651315 120059399 125480419 X 4095491 390573 -1410822 1647687 X 0 1 X 1 0 X 4132159 4246813 6154077 9983774 9656093 34172916 2844691 2809030 2789279 4479075 2786715 15708790 6976850 7055843 8943356 14462849 12442808 49881706 1492826 48388880 114476 97316 694 20426 109097 342009 37013 33046 20532 22713 21699 135003 50358718 31685153 0.96090 0.87680 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 5579730 355708 247092 5688346 6457565 -635074 242761 5579730 5186711 1512650 241796 6457565 5364429 55315 233033 5186711 5285779 168867 142816 233033 5364429 0.01570 0.98430 0 0 16866135 8946857 7919278 3336937 2740766 596171 29880346 25805772 4074574 12590023 POOLED INVESTMENTS - FFTC 9458336 F 9458336 BENEFICIAL INTERESTS IN TRUSTS 25497081 DEFERRED COMMITMENT FROM CITY OF CHARLOTTE 53602752 LIFE INSURANCE POLICY CONTRIBUTION 23493 DEFERRED COMMITMENT FROM TOWN OF HUNTERSVILLE 6291135 DEFERRED COMMITMENT FROM TOWN OF ROCKINGHAM 1455445 DEFERRED 457(B) ASSET 383234 GIANT DOME THEATER CONSORTIUM INVESTMENT 300000 87553140 X 24592009 390573 2786715 1647687 4824975 19767034 -190496 -190496 19576538 19869080 4197537 190496 4388033 15481047 0 15481047 PART III, LINE 1A: DONATED COLLECTIONS RECEIVED SINCE DISCOVERY PLACE'S INCEPTION ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION, AS THEY ARE HELD FOR PUBLIC EXHIBITION AND EDUCATION RATHER THAN FOR FINANCIAL GAIN. PART III, LINE 4: COLLECTION OF NATURAL HISTORY OBJECTS WHICH INCLUDE ROCKS AND MINERALS, SHELLS, FOSSILS, AND TAXIDERMY OBJECTS USED IN PUBLIC EXHIBITIONS IN THE MUSEUM AND FOR REFERENCE MATERIALS IN EDUCATION PROGRAMS CONDUCTED BY THE MUSEUM. PART V, LINE 4: THE INTENDED PURPOSE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE OPERATIONS OF THE ORGANIZATION. ANY DISBURSEMENTS RECEIVED FROM THE ENDOWMENT FUNDS ARE USED TO SUBSIDIZE OPERATING EXPENSES. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: DISCOVERY PLACE IS EXEMPT FROM INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED DISCOVERY PLACE'S TAX POSITIONS AND CONCLUDED THAT DISCOVERY PLACE HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTERESTS 1,647,687. PART XI, LINE 4B - OTHER ADJUSTMENTS: GIFT SHOP COST OF GOODS SOLD -190,496. PART XII, LINE 2D - OTHER ADJUSTMENTS: GIFT SHOP COST OF GOODS SOLD 190,496. X X X X X 0 0 0 0 0 0 0 0 0 CATHERINE WILSON HORNE CHIEF EXECUTIVE OFFICER 457746 0 150 0 6710 0 42293 0 10707 0 517606 0 0 0 SARAH LANE CHIEF ADVANCEMENT OFFICER 201423 0 10150 0 400 0 20887 0 7970 0 240830 0 0 0 ANNE N IBEKWE CHIEF FINANCIAL OFFICER 195769 0 10100 0 2134 0 20185 0 10251 0 238439 0 0 0 JENNIFER JOYCE CHIEF MARKETING OFFICER 170192 0 5100 0 593 0 17088 0 11974 0 204947 0 0 0 ERVIN GOURDINE CHIEF TALENT OFFICER 158423 0 10350 0 824 0 16553 0 9447 0 195597 0 0 0 HEATHER NORTON CHIEF SCIENCE OFFICER 162708 0 10100 0 126 0 16108 0 1336 0 190378 0 0 0 TIFFERNEY WHITE CHIEF LEARNING OFFICER (7/1/22-2/21/ 134789 0 100 0 359 0 16038 0 6945 0 158231 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B ONCE PREPARED, THE IRS FORM 990 IS REVIEWED BY DISCOVERY PLACE'S CHIEF FINANCIAL OFFICER, AND PRESIDENT AND CHIEF EXECUTIVE OFFICER. ONCE REVIEWED BY MANAGEMENT, THE ACCOUNTING FIRM PRESENTS THE 990 AND AUDITED FINANCIAL STATEMENTS TO THE AUDIT COMMITTEE AND SOME BOARD MEMBERS THAT ATTEND THE MEETING. AFTER THE MEETING, MANAGEMENT EMAILS THE 990 AND THE FINANCIAL AUDIT REPORT TO ALL BOARD MEMBERS AND GIVES THEM A WEEK TO REVIEW AND ASK ANY QUESTIONS. ANY QUESTIONS RAISED ARE ANSWERED TO THE BOARD'S SATISFACTION. IF THERE ARE NO FURTHER QUESTIONS, MANAGEMENT WILL INSTRUCT THE ACCOUNTING FIRM TO FINALIZE THE RETURN AND FILE WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUALLY (BY RE-SIGNING THE CONFLICT OF INTEREST AGREEMENT) ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ALL OFFICERS, DIRECTORS, TRUSTEES AND EMPLOYEES ARE ENCOURAGED TO REPORT ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS THROUGHOUT THE YEAR. EMPLOYEES RECEIVE PERIODIC TRAINING ON THE DEFINITION OF CONFLICT OF INTEREST. ANY NEW BUSINESS RELATIONSHIPS THAT MAY GIVE RISE TO CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE DETERMINED AND APPROVED THE CEO AND OTHER OFFICERS' COMPENSATION THROUGH THE FOLLOWING PROCESS: A FORMAL EVALUATION/REVIEW OF THE INDIVIDUAL'S PERFORMANCE. A REVIEW OF BENCHMARKING DATA FROM LIKE ORGANIZATIONS. TAKING INTO CONSIDERATION THE STATE OF THE DISCOVERY PLACE'S FINANCIAL POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE PERIOD OF TIME SET FORTH IN SECTION 6104(D). THE REQUEST CAN BE FULFILLED BY PROVIDING A COPY OF SAID DOCUMENTS OR ALLOWING INSPECTION AT THE ORGANIZATION'S OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTERESTS 1,647,687.