2023-11-10T14:26:06-06:00 2022-12-31 231144520 TAIT WELLER & BAKER LLP 50 SOUTH 16TH STREET SUITE 2900 PHILADELPHIA PA 19102 990 2022-01-01 231370501 THE FRANKLIN INSTITUTE FRAN 2154481200 222 NORTH 20TH STREET PHILADELPHIA PA 19103 LARRY DUBINSKI PRESIDENT & CEO 2154481200 2023-11-10 1 LARRY DUBINSKI 999009999 0 HARRISON PEREIRA P00746867 2159798800 2023-11-10 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z LARRY DUBINSKI 222 NORTH 20TH STREET PHILADELPHIA PA 19103 38086231 0 X WWW.FI.EDU X 1824 PA IN THE SPIRIT OF INQUIRY AND DISCOVERY EMBODIED BY BENJAMIN FRANKLIN, THE MISSION OF THE FRANKLIN INSTITUTE IS TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY. 46 45 248 78 84250 20130 21226806 11662555 7323519 21937448 2883676 1893222 606911 550089 32040912 36043314 320000 377533 0 0 11257539 12799946 23313 24003 1478818 13379451 14860669 24980303 28062151 7060609 7981163 191202786 173411426 20412413 11110382 170790373 162301044 X IN THE SPIRIT OF INQUIRY AND DISCOVERY EMBODIED BY BENJAMIN FRANKLIN, THE MISSION OF THE FRANKLIN INSTITUTE IS TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY. 0 0 3562721 377533 2600472 EDUCATIONAL PROGRAMS, SERVICES & GRANTS: COMPLETING ITS 30TH YEAR IN 2022, THE PARTNERS FOR ACHIEVING CAREERS IN TECHNOLOGY AND SCIENCE (PACTS) PROGRAM IS ONE OF THE REGION'S OLDEST AND MOST COMPREHENSIVE SCIENCE IMMERSION PROGRAMS FOR MIDDLE SCHOOL STUDENTS. PACTS SERVED 46 STUDENTS FROM AREA PUBLIC SCHOOLS DURING THE 2021-2022 SCHOOL YEAR. IN ITS 22ND YEAR, THE INSTITUTE'S STEM SCHOLARS PROGRAM, A CONCENTRATED PROGRAM OF HIGH SCHOOL STUDENTS WHO SHOW HIGH INTEREST IN AND APTITUDE FOR STEM FIELDS, SERVED 79 STUDENTS. PACTS AND STEM SCHOLARS PROVIDE STUDENTS WITH ACCESS TO STEM PROFESSIONALS, AS WELL AS COLLEGE EDUCATIONAL PROGRAMS AND SERVICES, APPLICATION AND FINANCIAL AID COUNSELING, EXPOSURE TO STEM CAREERS, AND ANNUAL ROBOTICS PROGRAMS. THESE TWO PROGRAMS DELIVER UNIQUE STEM PROGRAMMING TO A DIVERSE AUDIENCE.THE FRANKLIN INSTITUTE ALSO DEVELOPS MODEL PROGRAMS IN SCIENCE LEARNING FOR THE K-12 EDUCATION COMMUNITY THAT ARE DELIVERED BOTH INSIDE AND OUTSIDE THE MUSEUM WALLS, INCLUDING SCIENCE IN THE SUMMER, LEAP INTO SCIENCE AND MISSION2MARS WHICH SERVED 67,180 PARTICIPANTS ACROSS 34 STATES. 13485618 18228078 MUSEUM ADMISSIONS & OPERATIONS: AS THE MOST VISITED MUSEUM IN THE COMMONWEALTH AND A TOP-FIVE TOURIST DESTINATION IN THE CITY OF PHILADELPHIA, THE FRANKLIN INSTITUTE SERVES AS BOTH A PROMINENT EDUCATION AND CULTURAL RESOURCE, AND AS AN ANCHOR OF THE LOCAL ECONOMY. IN 2022, THE INSTITUTE WELCOMED 818,000 VISITORS TO THE MUSEUM, INCLUDING 80,000 FREE AND DISCOUNTED VISITS PROVIDED TO UNDERSERVED SCHOOLS AND FAMILIES THROUGH THE ACCESS PROGRAM. THE FRANKLIN INSTITUTE'S LONGSTANDING REPUTATION HELPS TO ELEVATE THE COMMONWEALTH AND THE CITY OF PHILADELPHIA AS MODELS FOR CULTURAL AND INFORMAL EDUCATION EXCELLENCE. THE INSTITUTE WELCOMES VISITORS OF ALL AGES TO EXPLORE SCIENCE IN INTERACTIVE EXHIBITS AND PUBLIC PROGRAMS. THE INSTITUTE REMAINS FULLY COMMITTED TO PROVIDING AN EXCEPTIONAL EXPERIENCE FOR ITS MANY VISITORS AND INCREASING SERVICE TO ITS AUDIENCE, EXTENDING THE INSTITUTE'S MISSION- TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY-TO CHILDREN AND FAMILIES THROUGHOUT GREATER PHILADELPHIA, REGARDLESS OF MEANS, REMAINS, AS ALWAYS, AT THE HEART OF ITS PRIORITIES. IT DOES SO THROUGH OUTSTANDING EXHIBITS AND MANY EDUCATION AND OUTREACH PROGRAMS. 1224262 1495154 THE JOURNAL OF THE FRANKLIN INSTITUTE, THE SECOND OLDEST SCHOLARLY JOURNAL IN CONTINUOUS PUBLICATION IN THE UNITED STATES, HAS INCREASED THE VOLUME OF ARTICLES PER ISSUE,, AS WELL AS THE READERSHIP. ALL 197 YEARS OF THE JOURNAL ARE AVAILABLE ONLINE THROUGH LIBRARIES AND RESEARCH INSTITUTIONS. 5240823 INTEREST AND DEPRECIATION EXPENSE NOT INCLUDED ABOVE.INTEREST $290,145DEPRECIATION $4,950,678 5240823 23513424 1 1 0 1 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 70 0 1 248 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 46 45 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 PA CA CT FL MD MA NJ NY X X ELBERT BLACK 2154481200 222 N 2OTH STREET PHILADELPHIA PA 19103 LARRY DUBINSKI PRESIDENT & CEO 37.50 X X 777149 0 64005 DONALD E MOREL JR PHD CHAIR 1.00 X X 0 0 0 THOMAS LYNCH CHAIR 1.00 X X 0 0 0 JOEL BERNSTEIN TRUSTEE 1.00 X 0 0 0 WADE H BERRETTINI MD PHD TRUSTEE 1.00 X 0 0 0 SUZANNE BODA TRUSTEE 1.00 X 0 0 0 RENEE B BOOTH PHD TRUSTEE 1.00 X 0 0 0 HALLEE ADELMAN TRUSTEE 1.00 X 0 0 0 PETER K CLASSEN TRUSTEE 1.00 X 0 0 0 ANNIE DUKE TRUSTEE 1.00 X 0 0 0 CHRIS FRANKLIN TRUSTEE 1.00 X 0 0 0 JOHN T FRIES TRUSTEE 1.00 X 0 0 0 CHRIS FRALIC TRUSTEE 1.00 X 0 0 0 ELIZABETH H GEMMILL TRUSTEE 1.00 X 0 0 0 GRETE GREENACRE TRUSTEE 1.00 X 0 0 0 RICHARD HENRIQUES TRUSTEE 1.00 X 0 0 0 FRANCES E JENSEN MD FACP TRUSTEE 1.00 X 0 0 0 STEPHEN E KELLY TRUSTEE 1.00 X 0 0 0 CHARISSE R LILLIE ESQ TRUSTEE 1.00 X 0 0 0 IRA M LUBERT TRUSTEE 1.00 X 0 0 0 SANDRA K BALDINO TRUSTEE 1.00 X 0 0 0 MIRIAM G MANDELL TRUSTEE 1.00 X 0 0 0 SANDRA G MARSHALL TRUSTEE 1.00 X 0 0 0 CHRISTOPHER MCISAAC TRUSTEE 1.00 X 0 0 0 ROBERT S MCMENAMIN TRUSTEE 1.00 X 0 0 0 PAUL OFFIT MD TRUSTEE 1.00 X 0 0 0 QUENTIN ROACH TRUSTEE 1.00 X 0 0 0 MICHAEL A INNOCENZO TRUSTEE 1.00 X 0 0 0 JOAN N STERN ESQ TRUSTEE 1.00 X 0 0 0 ANDREA ANANIA STEWART TRUSTEE 1.00 X 0 0 0 LUIZ VIEIRA TRUSTEE 1.00 X 0 0 0 HAROLD L YOH III TRUSTEE 1.00 X 0 0 0 KAREN ZIMMER MD TRUSTEE 1.00 X 0 0 0 THE HONORABLE DARRELL L CLARKE TRUSTEE, EX OFFICIO 1.00 X 0 0 0 WILLIAM R HITE TRUSTEE, EX OFFICIO 1.00 X 0 0 0 THE HONORABLE JAMES F KENNEY TRUSTEE, EX OFFICIO 1.00 X 0 0 0 THE HONORABLE TOM WOLF TRUSTEE, EX OFFICIO 1.00 X 0 0 0 GERARD F JONES TRUSTEE, EX OFFICIO 1.00 X 0 0 0 OTIS HACKNEY III TRUSTEE, EX OFFICIO 1.00 X 0 0 0 CJ TAYLOR TRUSTEE, EX OFFICIO 1.00 X 0 0 0 MARSHA R PERELMAN TRUSTEE, EMERITUS 1.00 X 0 0 0 WILLIAM J AVERY TRUSTEE, EMERITUS 1.00 X 0 0 0 JAMES A UNRUH TRUSTEE, EMERITUS 1.00 X 0 0 0 MICHELLE SINGER TRUSTEE, EX OFFICIO 1.00 X 0 0 0 VINCENT AMATULLI TRUSTEE 1.00 X 0 0 0 MAUREEN BRENNAN-MILLER TRUSTEE 1.00 X 0 0 0 SAMUEL HAMILTON TRUSTEE 1.00 X 0 0 0 ANTHONY BUCCI TRUSTEE 1.00 X 0 0 0 PARIS BUTLER MD MPH TRUSTEE 1.00 X 0 0 0 TOM CARMANICO TRUSTEE 1.00 X 0 0 0 MATTHEW ZELESKO TRUSTEE 1.00 X 0 0 0 SUCHIT BACHALLI TRUSTEE 1.00 X 0 0 0 MARK DICHTER TRUSTEE 1.00 X 0 0 0 JULIA DRANOFF TRUSTEE 1.00 X 0 0 0 ROBERT J MOORE TRUSTEE 1.00 X 0 0 0 MICHAEL CORRIGAN TRUSTEE 1.00 X 0 0 0 KAREN FLYNN TRUSTEE 1.00 X 0 0 0 BARBARA KLOCK TRUSTEE 1.00 X 0 0 0 NYLA KONCURAT TRUSTEE 1.00 X 0 0 0 MICHAEL J NEMEROFF TRUSTEE 1.00 X 0 0 0 DON SILBERBERG TRUSTEE, EX OFFICIO 1.00 X 0 0 0 MARIA IAVARONE TRUSTEE, EX OFFICIO 1.00 X 0 0 0 IAN WRIGHT TRUSTEE, EX OFFICIO 1.00 X 0 0 0 K SIOBHAN KEEFE SVP & CHIEF FINANCIAL OFFI 37.50 X 251874 0 25261 ERIN ARMSTRONG VP MKT COMM. & DIGITAL MED 37.50 X 236258 0 20172 REBEKAH SASSI VP EXTERNAL AFFAIRS 37.50 X 266629 0 41588 ELBERT BLACK CONTROLLER 37.50 X 145675 0 25582 KEITH DOUGHTY DIR OF FINANCIAL REPORTING & ANALYSIS 37.50 X 140968 0 8569 RICHARD RABENA SVP OF OPERATIONS 37.50 X 233399 0 38145 DARRYL WILLIAMS SVP OF SCIENCE & EDUCATION 37.50 X 293905 0 24609 CHRIS RIZZO VP OF BUSINESS OPERATIONS 37.50 X 212546 0 38458 ABIGAIL BYSSHE CHIEF EXPERIENCE & STRATEGY OFFICER 37.50 X 265034 0 22715 MARK HARMON VP OF OPERATIONS 37.50 X 179865 0 37629 JOY MONTEFUSCO DIRECTOR OF DIGITAL EDITOR 37.50 X 132203 0 29874 JOSEPH TORRIERI DIRECTOR OF IT 37.50 X 166108 0 22935 CASEY SATELL DIRECTOR OF INSTITUTIONAL GIVING 37.50 X 145686 0 25464 JANIE TSANG DIRECTOR OF MKT AND PROMOTIONS 37.50 X 134724 0 12492 SUZZETTE GRAVES DIRECTOR OF HR 37.50 X 130567 0 29481 3712590 0 466979 28 0 1 0 FIRST PHILADELPHIA LABOR SERVICE 1201 N 3RD STREET UNIT 329 PHILADELPHIA PA 19122 EXHIBIT INSTALLATION 1232341 SMITH GROUP JJR INC 1700 NEW YORK AVE NW SUITE 100 WASHINGTON DC 20006 ARCHITECTURE 1170506 NCONTEXT LLC 1814 CHEW STREET ALLENTOWN PA 18104 ADVERTISING 914246 ABM INDUSTRY GROUPS LLC PO BOX 419860 BOSTON MA 02241 JANITORIAL 780553 UNIVERSAL PROTECTION SVC LP PO BOX 828854 PHILADELPHIA PA 19182 SECURITY SERVICES 718978 28 861795 2099500 8701260 408950 11662555 MUSEUM ADMISSIONS 900099 12428780 12428780 ANCILLARY ACTIVITIES 900099 3408649 3324399 84250 GRANTS 900099 2484526 2484526 MEMBERSHIPS 900099 2390649 2390649 EDUCATIONAL PROGRAMS & SERVICES 611710 115946 115946 1108898 1108898 21937448 1294456 1294456 386256 386256 442998 0 442998 442998 442998 2212334 1613568 598766 598766 598766 115329 861795 429349 -314020 -314020 MISCELLANEOUS REVENUE 900099 34855 34855 34855 36043314 21853198 84250 2443311 367533 367533 10000 10000 3350033 2453007 168231 728795 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FOTO FANTASY COIN PRESS ETC - 2018 AMOUNT: $ 27,484. 2019 AMOUNT: $ 30,021. 2020 AMOUNT: $ 9,251. 2021 AMOUNT: $ 17,388. 2022 AMOUNT: $ 34,855. 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COLLECTION ITEMS ARE HELD AS HISTORICAL TREASURES AND ARE UNDER THE STEWARDSHIP OF THE INSTITUTE ACTING THROUGH ITS PRESIDENT AND CURATORIAL STAFF. THE COST OF CURRENT COLLECTION ADDITIONS TO EXHIBITS, BOOKS AND SCIENTIFIC LITERATURE IS CHARGED TO EXPENSE. A PORTION OF SUCH COST MAY BE REIMBURSED BY DESIGNATED CONTRIBUTED FUNDS AND INCOME OF NET ASSETS WITH DONOR RESTRICTIONS. PART III, LINE 4: THE HISTORICAL AND INTERPRETIVE COLLECTIONS OF THE FRANKLIN INSTITUTE ARE ORGANIZED INTO THREE TYPES OF HOLDINGS: MUSEUM, ARCHIVES AND LIBRARY. THEY EACH PLAY AN INSTRUMENTAL ROLE IN EDUCATIONAL AND PUBLIC PROGRAMMING THROUGH PERMANENT AND TEMPORARY GALLERY EXHIBITIONS; DEVELOPMENT INITIATIVES; OUTREACH, MARKETING AND PROMOTIONAL ACTIVITIES; AND INTERNET-BASED PRESENTATIONS. PART V, LINE 4: SCHEDULE D, PART V, LINE 4 THE ENDOWMENT FUNDS SUPPORT A VARIETY OF THE FRANKLIN INSTITUTE'S ACTIVITIES BASED UPON ORIGINAL DONOR INTENT. ACTIVITIES SUPPORTED INCLUDE THE FOLLOWING: AWARDS PROGRAM, LIBRARY, CURATORIAL AND COLLECTIONS, MUSEUM PROGRAMS, SUBSIDIZED ADMISSION TO THE SCIENCE MUSEUM AND GENERAL OPERATIONS. PART X, LINE 2: MANAGEMENT HAS REVIEWED THE TAX POSITIONS FOR EACH OF THE OPEN TAX YEARS (2019-2021) OR THOSE EXPECTED TO BE TAKEN IN THE INSTITUTE'S 2022 TAX RETURN AND HAS CONCLUDED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT DIRECT EXPENSES 429,349. NET ACTUARIAL LOSS ON DEFINED BENEFIT RETIREMENT PLAN -429,907. NET UNREALIZED GAIN ON INTEREST RATE SWAP 417,766. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT DIRECT EXPENSES 429,349. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 10000 0 0 0 0 0 0 10000 0 10000 BOWER LAUREATE HONORARIUM EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 1 10000 WIRE TRANSFER 0 0 0 0 0 0 PART I, LINE 2: THE FRANKLIN INSTITUTE AWARDS ONE INDIVIDUAL WITH THE BOWER AWARD AND PRIZE FOR ACHIEVEMENT IN SCIENCE EACH YEAR. THE AWARD WINNER IS CHOSEN BY THE COMMITTEE ON SCIENCE AND THE ARTS, FOLLOWING A FORMAL NOMINATION AND DELIBERATION PERIOD. THE PRIZE MONEY AWARDED IS NOT A GRANT, SO MONITORING OF USE OF FUNDS IS NOT REQUIRED OR APPROPRIATE. THE INSTITUTE PROVIDES HONORARIUM PAYMENTS TO THE OTHER BENJAMIN FRANKLIN MEDALISTS, WITH THE EXCEPTION OF THE BOWER AWARD FOR BUSINESS LEADERSHIP. THE AWARD WINNERS ARE CHOSEN BY THE COMMITTEE ON SCIENCE AND THE ARTS FOLLOWING A FORMAL NOMINATION AND DELIBERATION PERIOD. THE HONORARIUM PAYMENTS AWARDED ARE NOT GRANTS, SO MONITORING OF USE OF FUNDS IS NOT REQUIRED OR APPROPRIATE. PART III ACCOUNTING METHOD: X X X X X X X 1 MAE DANILLER & CO 3724 JEFFERSON SUITE 302 AUSTIN TX 78731 CONSULTING - DIRECT MAIL/EMAIL SOLICITATIONS 0 436633 303930 132703 ARTSMARKETING SERVICES 260 KING STREET EAST SUITE 500 TORONTO ONTARIO CA MSA 4L5 CONSULTING - PHONE SOLICITATIONS 0 97857 82780 15077 534490 386710 147780 PA NJ CA CT FL MD MA AZ WA NY FRANKLIN AWARDS 977124 861795 115329 115411 313938 977124 861795 115329 115411 313938 429349 -314020 1 LAUREATE HONORARIUM 8 230000 PART I, LINE 2: THE INSTITUTE PROVIDES HONORARIUM PAYMENTS TO THE OTHER BENJAMIN FRANKLIN MEDALISTS, WITH THE EXCEPTION OF THE BOWER AWARD FOR BUSINESS LEADERSHIP. THE AWARD WINNERS ARE CHOSEN BY THE COMMITTEE ON SCIENCE AND THE ARTS FOLLOWING A FORMAL NOMINATION AND DELIBERATION PERIOD. THE HONORARIUM PAYMENTS AWARDED ARE NOT GRANTS, SO MONITORING OF USE OF FUNDS IS NOT REQUIRED OR APPROPRIATE. X 1 1 X X X X 1 0 0 0 0 0 0 1 0 LARRY DUBINSKI PRESIDENT & CEO 490346 0 275780 0 11023 0 32242 0 31763 0 841154 0 0 0 DARRYL WILLIAMS SVP OF SCIENCE & EDUCATION 234550 0 59085 0 270 0 12985 0 11624 0 318514 0 0 0 REBEKAH SASSI VP EXTERNAL AFFAIRS 212655 0 53560 0 414 0 12442 0 29146 0 308217 0 0 0 ABIGAIL BYSSHE CHIEF EXPERIENCE & STRATEGY OFFICER 207354 0 57500 0 180 0 12479 0 10236 0 287749 0 0 0 K SIOBHAN KEEFE SVP & CHIEF FINANCIAL OFFI 144617 0 0 0 107257 0 8048 0 17213 0 277135 0 0 0 RICHARD RABENA SVP OF OPERATIONS 172354 0 57321 0 3724 0 13809 0 24336 0 271544 0 0 0 ERIN ARMSTRONG VP MKT COMM. & DIGITAL MED 187653 0 47831 0 774 0 9628 0 10544 0 256430 0 0 0 CHRIS RIZZO VP OF BUSINESS OPERATIONS 169376 0 42900 0 270 0 10220 0 28238 0 251004 0 0 0 MARK HARMON VP OF OPERATIONS 141955 0 37500 0 410 0 8835 0 28794 0 217494 0 0 0 JOSEPH TORRIERI DIRECTOR OF IT 150244 0 15450 0 414 0 5348 0 17587 0 189043 0 0 0 ELBERT BLACK CONTROLLER 117809 0 27625 0 241 0 7493 0 18089 0 171257 0 0 0 CASEY SATELL DIRECTOR OF INSTITUTIONAL GIVING 124993 0 20533 0 160 0 7887 0 17577 0 171150 0 0 0 JOY MONTEFUSCO DIRECTOR OF DIGITAL EDITOR 119110 0 12838 0 255 0 7646 0 22228 0 162077 0 0 0 SUZZETTE GRAVES DIRECTOR OF HR 112328 0 17196 0 1043 0 7263 0 22218 0 160048 0 0 0 PART I, LINE 1A DURING 2022, THE FRANKLIN INSTITUTE PROVIDED MEMBERSHIP IN THE UNION LEAGUE OF PHILADELPHIA FOR THE PRESIDENT AND CEO. PART I, LINE 7 REFER TO SCHEDULE O, DISCLOSURE FOR FORM 990, PART VI, SECTION B, LINE 15A AND 15B, PROCESS USED TO DETERMINE EXECUTIVE COMPENSATION. A PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT 232237287 717818QG8 2006-03-22 14095000 REFINANCED DEBT, FUNDING FOR PRIOR CAPITAL PROJECTS 0 0 0 A 8130000 14265843 206552 5358 14058055 1990 0 1 1 1 A 0 0 0 0 0 0 1 A 1 1 1 BANK OF AMERICA 20.000000000000 0 0 0 0 1 A 1 X 10 408950 MARKET VALUE 0 1 1 PART I, LINE 32B: THE FRANKLIN INSTITUTE UTILIZES A BROKER TO IMMEDIATELY SELL ANY GIFTS OF SECURITIES UPON RECEIPT OF THE GIFT. FORM 990, PART VI, SECTION A, LINE 2 IRA LUBERT HAS A BUSINESS RELATIONSHIP WITH JOHN FRIES. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE DRAFT FORM 990, AND APPROVES THE FORM 990 PRIOR TO IT BEING FILED WITH THE IRS. AND, A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FRANKLIN INSTITUTE BOARD MEMBERS AND SENIOR MANAGEMENT STAFF COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE AND DISCLOSURE FORM WHICH INCLUDES ACKNOWLEDGING RECEIPT OF, AND FAMILIARITY WITH, THE INSTITUTE'S CODE OF CONDUCT AND ETHICS POLICY. IN ADDITION, ALL EMPLOYEES RECEIVE THE CODE OF CONDUCT AND ETHICS POLICY APPROVED BY THE BOARD OF TRUSTEES. THE CONTROLLER REVIEWS THE COMPLETED ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES AND PROVIDES A SUMMARY FOR REVIEW BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 KEY EMPLOYEES AND OFFICERS OF THE FRANKLIN INSITUTE IN 2022 INCLUDED THE FOLLOWING INDIVIDUALS: LARRY DUBINSKI, PRESIDENT AND CEO SIOBHAN KEEFE, SVP & CFO (TERMED 7/11/22) REBEKAH SASSI, VICE PRESIDENT OF EXTERNAL AFFAIRS & SECRETARY ERIN ARMSTRONG, VICE PRESIDENT OF MARKETING, COMMUNICATIONS, DIGITAL MEDIA & ASST. SECRETARY RICHARD RABENA, SENIOR VICE PRESIDENT OF OPERATIONS DARRYL WILLIAMS, SENIOR VICE PRESIDENT OF SCIENCE & EDUCATION CHRIS RIZZO, VICE PRESIDENT OF BUSINESS OPERATIONS ABIGAIL BYSSHE, CHIEF EXPERIENCE & STRATEGY OFFICER KEITH DOUGHTY, DIRECTOR OF FINANCIAL REPORTING & ANALYSIS & ASSISTANT TREASURER ELBERT BLACK, CONTROLLER & ASSISTANT TREASURER THE PROCESS THE FRANKLIN INSTITUTE USES TO ESTABLISH COMPENSATION FOR OFFICERS AND KEY EMPLOYEES INCLUDES A COMPLETE REVIEW OF EXECUTIVE COMPENSATION LEVELS BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF THE FRANKLIN INSTITUTE. THE REVIEW IS BASED ON A MARKET ANALYSIS PREPARED BY A COMPENSATION CONSULTING FIRM USING PUBLISHED COMPENSATION SURVEYS FOR BOTH NOT-FOR-PROFIT AND FOR-PROFIT ORGANIZATIONS COMPARABLE IN SIZE TO THE FRANKLIN INSTITUTE. COMPENSATION DECISIONS ARE MADE ON TWO LEVELS: RECOMMENDATIONS ARE MADE BY THE PRESIDENT AND CEO TO THE COMPENSATION COMMITTEE FOR APPROVAL OF ACTIONS REGARDING THE COMPENSATION OF SENIOR VICE PRESIDENTS AND VICE PRESIDENTS. THE COMPENSATION COMMITTEE DEVELOPS RECOMMENDATIONS FOR THE PRESIDENT AND CEO'S COMPENSATION AND REFERS ITS RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE FRANKLIN INSTITUTE'S FORM 990 IS POSTED ANNUALLY ON GUIDESTAR.ORG. THE FRANKLIN INSTITUTE PUBLISHES AN ANNUAL REPORT, WHICH INCLUDES THE AUDITED STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS AND THE AUDITED STATEMENT OF FINANCIAL POSITION. THE FRANKLIN INSTITUTE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON INTEREST RATE SWAP 417,766. NET ACTUARIAL LOSS ON DEFINED BENEFIT RETIREMENT PLAN -429,907.