2023-11-13T07:59:39-06:00 2022-12-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2022-01-01 362167797 Museum of Science and Industry MUSE 7736841414 5700 S DuSable Lake Shore Drive Chicago IL 606372093 A Chevy Humphrey President and CEO 7736841414 2023-11-07 1 A Chevy Humphrey XXX-XX-XXXX 0 Rebekuh Eley P01247672 3126343400 2023-11-07 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z A Chevy Humphrey 5700 S DuSable Lake Shore Drive Chicago IL 606372093 284914626 0 X www.msichicago.org X 1933 IL MSI's mission is to inspire the inventive genius in everyone. 103 102 408 168 1996390 0 131785818 37451255 15517488 17111198 16704097 3213707 5059653 6636223 169067056 64412383 0 0 0 0 20172049 22380297 0 0 3325470 26294746 29680236 46466795 52060533 122600261 12351850 427907232 409602292 66348374 72134704 361558858 337467588 X The Museum of Science and Industry (the Museum), a 501(c)(3) corporation, is the largest science museum in the Western hemisphere and home to thousands of exhibits and artifacts. For more than 89 years, the Museum has been a premier destination in Chicago, Illinois. The Museum's mission is to inspire the inventive genius in everyone, and its vision is science discerns the laws of nature, industry applies them to the needs of humankind. The Museum typically welcomes over 1.4 million guests annually and is the top Chicago museum field trip destination for students. Through it's Education programs, the Museum engages over half a million participants annually. 0 0 27893729 0 12833983 World-class permanent exhibitions include Science Storms, a 26,000-square-foot exhibit that reveals the extraordinary science behind some of nature's most powerful and compelling phenomena; and You! The Experience, a 15,000-square-foot exhibit that explores the human mind, body and spirit. Other favorite experiences include the U-505 Submarine, the only German U-boat captured during World War II, surrounded by more than 30,000 square feet of artifacts and interactive activities; the Coal Mine, a reproduction of an Illinois coal mine that takes guest down 50 feet in a real hoist to the bottom of a mineshaft; The Great Train Story, a dynamic model display that illustrates modern rail operation; and the Giant Dome Theater, which features educational films, rich in content and presented on Chicago's only five-story, domed wrap-around movie screen. 8265361 0 307880 Educational Programs and Activities. The Museum's Education programming impacts guests and students in the building and in their communities in a variety of ways. MSI offers live science demonstrations, facilitated learning labs for school groups, free teacher development and training, online experiments and lesson plans, after-school science club networks in underserved communities, and a club for teens that helps them learn science skills as they prepare for college. 5533693 2870276 Museum and Operations, which include Program Support Services and Exhibit Maintenance. These expenses support the Museum's vision of inspiring and motivating children to achieve their full potential in science, technology, and engineering by providing guests and teachers with integrated learning experiences and programming that is centered on exciting and interactive exhibits that help explain how science directly impacts our daily lives. 1387370 0 1357027 Retail and supporting services represent various program offerings that enhance the guest experience. These include the musuem store, food services, and parking services. 1387370 0 1357027 43080153 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 198 0 1 408 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 103 102 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA FL IL MI NY PA UT WI MN OH VA X X Shauna Lindsey 7736841414 5700 S DuSable Lake Shore Drive Chicago IL 606372093 A Chevy Humphrey President & CEO/Trustee 35.00 X X 733915 0 93439 David J Vitale Chairman/Trustee 1.00 X X 0 0 0 David A Fisher Treasurer/Trustee 1.00 X X 0 0 0 Michelle L Collins Secretary/Trustee 1.00 X X 0 0 0 Matthew J Boler Vice Chairman/Trustee 1.00 X X 0 0 0 Allan E Bulley Jr Vice Chairman/Trustee 1.00 X X 0 0 0 Frank M Clark Vice Chairman/Trustee 1.00 X X 0 0 0 Douglas M Cook Vice Chairman/Trustee 1.00 X X 0 0 0 Christopher M Crane Vice Chairman/Trustee 1.00 X X 0 0 0 Anthony B Davis Vice Chairman/Trustee 1.00 X X 0 0 0 Kent P Dauten Vice Chairman/Trustee 1.00 X X 0 0 0 Pedro DeJesus Jr Vice Chairman/Trustee 1.00 X X 0 0 0 Ann M Drake Vice Chairman/Trustee 1.00 X X 0 0 0 Joseph M Erlinger Vice Chairman/Trustee 1.00 X X 0 0 0 Michael W Ferro Jr Vice Chairman/Trustee (until 6/21/22) 1.00 X X 0 0 0 William M Goodyear Vice Chairman/Trustee 1.00 X X 0 0 0 James A Gordon Vice Chairman/Trustee 1.00 X X 0 0 0 Robert A Livingston Vice Chairman/Trustee 1.00 X X 0 0 0 Barry L MacLean Vice Chairman/Trustee 1.00 X X 0 0 0 Duncan A MacLean Vice Chairman/Trustee 1.00 X X 0 0 0 DG Macpherson Vice Chairman/Trustee 1.00 X X 0 0 0 Andrew J McKenna Vice Chairman/Trustee 1.00 X X 0 0 0 Robert F Pasin Vice Chairman/Trustee 1.00 X X 0 0 0 Sheila A Penrose Vice Chairman/Trustee 1.00 X X 0 0 0 E Scott Santi Vice Chairman/Trustee 1.00 X X 0 0 0 Uma M Amuluru Trustee 1.00 X 0 0 0 Jeffrey R Applebaum Trustee 1.00 X 0 0 0 Pat A Basu Trustee 1.00 X 0 0 0 Cathy Birkeland Trustee (as of 6/21/22) 1.00 X 0 0 0 Doug Boersma Trustee (as of 3/8/22) 1.00 X 0 0 0 Barbara L Bowles Trustee 1.00 X 0 0 0 Stephanie Braming CFA Trustee 1.00 X 0 0 0 Byron T Brazier DMin Trustee 1.00 X 0 0 0 Chris Cartwright Trustee (as of 3/8/22) 1.00 X 0 0 0 Piyush Chaudhari Trustee 1.00 X 0 0 0 Andrew Clarke Trustee (as of 6/21/22) 1.00 X 0 0 0 Kelley Conway Trustee (as of 10/27/22) 1.00 X 0 0 0 Rita Sola Cook Trustee (as of 10/27/22) 1.00 X 0 0 0 Richard H Copans Trustee 1.00 X 0 0 0 Kevin Cross Trustee (as of 6/21/22) 1.00 X 0 0 0 James S Crown Trustee 1.00 X 0 0 0 Katherine C Doyle Trustee 1.00 X 0 0 0 James J Drury III Trustee 1.00 X 0 0 0 Richard Edelman Trustee (as of 6/21/22) 1.00 X 0 0 0 Joshua Earnest Trustee (as of 10/27/22) 1.00 X 0 0 0 Opella Ernest Trustee 1.00 X 0 0 0 W James Farrell Trustee 1.00 X 0 0 0 Ezequiel Zeke Flores Trustee (until 6/16/22) 1.00 X 0 0 0 James J Fuentes Trustee 1.00 X 0 0 0 Greg Franks Trustee (as of 3/8/22) 1.00 X 0 0 0 James T Glerum Jr Trustee 1.00 X 0 0 0 Benjamin S Graham Trustee 1.00 X 0 0 0 Catherine P Greenspon Trustee 1.00 X 0 0 0 Myetie Hamilton Trustee (as of 6/21/22) 1.00 X 0 0 0 Stephanie J Hickman Trustee 1.00 X 0 0 0 Steven Hunter Trustee 1.00 X 0 0 0 Justin Ishbia Trustee 1.00 X 0 0 0 Rashad R Johnson PE Trustee 1.00 X 0 0 0 Edward L Kaplan Trustee 1.00 X 0 0 0 Vikram Karnani Trustee (as of 3/8/22) 1.00 X 0 0 0 Michael P Krasny Trustee 1.00 X 0 0 0 Eric P Lefkofsky Trustee 1.00 X 0 0 0 Charles A Lewis Trustee 1.00 X 0 0 0 H John Livingston Trustee 1.00 X 0 0 0 Matthew M Maloney Trustee 1.00 X 0 0 0 Tom McGuinness Trustee 1.00 X 0 0 0 Oscar Munoz Trustee (until 6/21/22) 1.00 X 0 0 0 Robert S Murley Trustee 1.00 X 0 0 0 Daniela O'Leary-Gill Trustee 1.00 X 0 0 0 Louis V Pinkham Trustee 1.00 X 0 0 0 John F Podjasek III Trustee 1.00 X 0 0 0 Jason Pritzker Trustee 1.00 X 0 0 0 Michael A Reinsdorf Trustee 1.00 X 0 0 0 Larry D Richman Trustee (until 6/21/22) 1.00 X 0 0 0 Michelle Russell Trustee 1.00 X 0 0 0 Manuel Sanchez Trustee 1.00 X 0 0 0 Smita N Shah Trustee 1.00 X 0 0 0 Virginia K Simmons Trustee 1.00 X 0 0 0 Melody A Spann-Cooper Trustee 1.00 X 0 0 0 Byron O Spruell Trustee 1.00 X 0 0 0 Kristofer K Swanson Trustee (as of 10/27/22) 1.00 X 0 0 0 Shundrawn A Thomas Trustee 1.00 X 0 0 0 Matt VanderZee Trustee (until 12/14/22) 1.00 X 0 0 0 Ralph Wanger Trustee 1.00 X 0 0 0 Ann C Williams Trustee 1.00 X 0 0 0 Peng Zhao Trustee 1.00 X 0 0 0 Elizabeth Ziegler Trustee 1.00 X 0 0 0 Charles K Bobrinskoy Life Trustee 1.00 X 0 0 0 John A Canning Jr Life Trustee 1.00 X 0 0 0 Lester Crown Life Trustee 1.00 X 0 0 0 William J Devers Jr Life Trustee 1.00 X 0 0 0 Dennis J FitzSimons Life Trustee 1.00 X 0 0 0 Jere D Fluno Life Trustee 1.00 X 0 0 0 J Ira Harris Life Trustee 1.00 X 0 0 0 James R Kackley Life Trustee 1.00 X 0 0 0 John P Keller Life Trustee 1.00 X 0 0 0 Richard H Lenny Life Trustee 1.00 X 0 0 0 Edward M Liddy Life Trustee 1.00 X 0 0 0 Walter E Massey PhD Life Trustee 1.00 X 0 0 0 Robert S Morrison Life Trustee 1.00 X 0 0 0 Terry E Newman Life Trustee 1.00 X 0 0 0 James J O'Connor Life Trustee 1.00 X 0 0 0 William A Osborn Life Trustee 1.00 X 0 0 0 Cindy Pritzker Life Trustee 1.00 X 0 0 0 Louis A Simpson Life Trustee 1.00 X 0 0 0 James A Skinner Life Trustee 1.00 X 0 0 0 Eugene A Tracy Life Trustee 1.00 X 0 0 0 Arthur R Velasquez Life Trustee 1.00 X 0 0 0 Mary L Krinock VP - Operations (until 4/15/22) 35.00 X 113519 0 6414 Sheila M Cawley SVP - Chief Revenue Strategist 35.00 X 469649 0 28501 David Woody VP - Chief Creative Officer 35.00 X 308494 0 18259 Yolanda Stephens SVP - HR & Chief Culture Strategist 35.00 X 279258 0 27762 Jonathan Assell VP - Chief Financial Officer 35.00 X 253950 0 34755 Rabiah Mayas PhD VP of Education & Guest Experience 35.00 X 226973 0 14735 Curt Gruber AVP, Marketing & Sales 35.00 X 197252 0 6717 Hsinghua Chen General Counsel 35.00 X 189519 0 9429 Devon Nelson AVP - Development 35.00 X 165208 0 27429 Anne Rashford AVP - Govt Relations & Business Dev 35.00 X 177877 0 13303 Bradley Schiever AVP - Business Services & Guest Eng 35.00 X 158513 0 20342 3274127 0 301085 36 0 1 0 41 North Contractors LLC 4906 Main Street Suite 102 Lisle IL 60532 Construction 4711252 Berglund Construction Company 8410 S Chicago Avenue Chicago IL 60617 Construction 2465046 Boelter N22W23685 W Ridgeview Pkwy Waukesha WI 53188 Kitchen & Food Court Design Services 2463277 Securitas Security Services USA Inc 150 S Wacker Drive Chicago IL 60606 Security 1845568 Midway Building Services 1915 W Hubbard Street Chicago IL 60622 Janitorial 1758967 31 2753565 1540364 8753454 24403872 207774 37451255 General Admissions 900099 9832012 9832012 Special Exhibits 900099 2870276 2870276 Giant Dome Theater 900099 1351599 1351599 U-505 Exhibit 900099 1104387 1104387 Coal Mine Exhibit 900099 600787 600787 1352137 1352137 17111198 5572811 5572811 37591 37591 1434323 659487 774836 774836 774836 216694846 219030387 23563 -2335541 -23563 -2359104 -2359104 123900 1540364 669310 -545410 -545410 3800 7000 -3200 -3200 816863 112496 704367 559975 144392 Parking & Guest Srvs 900099 2175232 2175232 Employee Retention Cr. 900099 1473215 1473215 Food Court 722514 1100045 1100045 919547 257968 661579 5668039 64412383 17369166 1996390 7595572 X 2488204 1278938 761776 447490 15489528 11979408 1858641 1651479 464702 342712 67735 54255 2712285 1809436 546773 356076 1225578 903848 178639 143091 102783 102783 114691 114691 100000 100000 419727 419727 6118832 5546648 417997 154187 1746392 1746392 696137 574834 26098 95205 1273635 959879 265734 48022 1010938 929624 81314 539655 386524 51776 101355 1094014 1094014 10069572 9726395 343177 598048 549944 48104 Exhibit Fab. & Maint. 1851442 1851442 Building Maintenance 1847205 1714158 133047 Program Development 1260165 1108984 2081 149100 Bank & Credit Card Fees 151722 129461 22261 685278 447512 112556 125210 52060533 43080153 5654910 3325470 4646190 3971000 27314321 42941684 15166849 9770558 4689157 8982327 71432 71427 766958 753121 401892950 264475569 131455407 137417381 151984332 142473164 90642626 59203578 1169960 4018052 427907232 409602292 6792732 9658113 5103518 12572344 50936892 48978266 2000000 0 1515232 925981 66348374 72134704 X 295954592 270137978 65604266 67329610 361558858 337467588 427907232 409602292 X 12351850 -36955312 512192 X 0 1 X 1 0 X 54923379 30378394 41515795 126650878 31261691 284730137 5409280 5577460 5439338 5134940 6189564 27750582 60332659 35955854 46955133 131785818 37451255 312480719 20201261 292279458 2875304 3510555 2941681 5587751 5610402 20525693 1000 1000 1882375 677474 262468 2376052 1731183 6929552 339936964 89826936 0.85980 0.86470 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous Revenue - 2018 Amount: $ 1,882,087. 2019 Amount: $ 676,733. 2020 Amount: $ 256,139. 2021 Amount: $ 286,307. 2022 Amount: $ 257,968. Film Lease Revenue - 2018 Amount: $ 288. 2019 Amount: $ 741. 2020 Amount: $ 6,329. 2021 Amount: $ 1,875. 2022 Amount: $ 0. Employee Retention Credit - 2018 Amount: $ 0. 2019 Amount: $ 0. 2020 Amount: $ 0. 2021 Amount: $ 2,087,870. 2022 Amount: $ 1,473,215. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 100000 100000 0 Part II-B, Line 1: The National Group (TNG) represents MSI in government and other policy-making forums. They work to influence decision-makers by advocating for the interests of the Museum. TNG works to build relationships with elected officials, bureaucrats, and other stakeholders to promote the Museum's interests. X 0 25583763 158044 -3459505 988283 21294019 23542145 787500 2167118 913000 25583763 20406762 2257080 1538151 659848 23542145 16493417 1510904 2867405 464964 20406762 27625481 7111852 -1288612 16955304 16493417 0.00000 0.93000 0.07000 0 0 208776374 110885432 97890942 18647036 13601032 5046004 174469540 139989105 34480435 137417381 Equity Funds 40001035 F Fixed Income Funds 19202543 F 59203578 Asset Retirement Obligation 525064 Funds on Deposit 210315 Purchase Agreement 60902 Supplemental Retirement Plans 129700 925981 X 29075297 -36955312 77468 512192 -36365652 65440949 419727 -1448293 -1028566 64412383 53166567 77468 1448293 1525761 51640806 419727 419727 52060533 Part III, Line 1a: The Museum's permanent collections, which were acquired since the Museum's inception through purchases and contributions from benefactors, are not recognized as assets on the statements of financial position. Purchases of collection items are recorded as decreases in net assets without donor restrictions in the year in which the items are acquired or as decreases in net assets with donor restrictions if the assets used to purchase the items were restricted by donors. The Museum's collections are made up of artifacts of historical significance, scientific specimens and art objects that are held for educational, research, scientific and curatorial purposes. Each of the items is cataloged, preserved and cared for, and activities verifying the items' existence and assessing their condition are performed continuously. The collections are subject to the Museum's policy that requires proceeds from their sales to be used for direct care of existing artifacts or acquire other items for collections. Part III, Line 4: The Museum's collection - with almost 40,000 objects that showcase advances in science, industry and technology - serves to create spectacular exhibits and experiences that excite and inspire Museum guests and further the Museum's mission and vision. Remarkable artifacts in the collection include the 700-ton U-505 submarine; a real United 727 airplane; the Pioneer Zephyr, the train that set the speed record in 1934; a British Spitfire WWII plane; a collection of carefully preserved human anatomical slices and fetuses; and much more. The Museum's collections are designed to spark scientific inquiry and creativity to motivate children to achieve their full potential in science, technology, medicine and engineering in furtherance of the Museum's exempt purpose. Part V, Line 4: The organization's endowment funds are meant to serve as a source of financial support of the Museum's mission. A portion of annual endowment earnings are used to support museum general operations. Earnings are directed to specific elements of the Museum's operations as directed by donor restrictions on respective contributions to the endowment. Part X, Line 2: The Financial Accounting Standards Board (FASB) issued guidance requiring 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 should the position be challenged by a taxing authority. Management believes that there are no material uncertain positions that require recognition in the financial statements. There are no tax positions for which a material change in any unrecognized tax benefit or liability is reasonably possible in the next 12 months. The Museum has federal net operating loss carryforwards available to offset future unrelated business taxable income. The net operating loss carryforwards expire through 2042 and total approximately $2,397,000 and $2,697,000 at December 31, 2022 and 2021, respectively. As of December 31, 2022 and 2021, management has determined the likelihood of realizing the benefit from a future reversal of the net operating loss carryforwards is uncertain. Therefore, a 100% allowance has been applied to the deferred tax assets associated with the net operating loss carryforwards of approximately $647,000 and $728,000 at December 31, 2022 and 2021, respectively. The Museum files Form 990 in the U.S. federal jurisdiction and the State of Illinois. Part XI, Line 2d - Other Adjustments: Change in Value of Life Insurance Policy 20,117. Gain (Loss) on Film Consortium Investment 19,779. Change in Value of Asset Retirement Obligation -28,684. Change in Value of Interest Rate Swap 3,529,980. Uncollectible Pledges -3,029,000. Part XI, Line 4b - Other Adjustments: Rental Expenses -659,487. Cost of Goods Sold -112,496. Fundraising Expenses -669,310. Gaming Expenses -7,000. Part XII, Line 2d - Other Adjustments: Rental Expenses 659,487. Cost of Goods Sold 112,496. Fundraising Expenses 669,310. Gaming Expenses 7,000. Black Creativity Gala 574607 488107 86500 7000 177259 16539 140212 Columbian Ball 1089657 1052257 37400 13190 99599 48734 166777 1664264 1540364 123900 20190 276858 65273 306989 669310 -545410 X X 0 1 0 0 0 0 0 0 0 A Chevy Humphrey President & CEO/Trustee 566901 0 165000 0 2014 0 75000 0 18439 0 827354 0 0 0 Sheila M Cawley SVP - Chief Revenue Strategist 318683 0 150000 0 966 0 8750 0 19751 0 498150 0 0 0 David Woody VP - Chief Creative Officer 281688 0 25000 0 1806 0 9988 0 8271 0 326753 0 0 0 Yolanda Stephens SVP - HR & Chief Culture Strategist 279258 0 0 0 0 0 5465 0 22297 0 307020 0 0 0 Jonathan Assell VP - Chief Financial Officer 223950 0 30000 0 0 0 7726 0 27029 0 288705 0 0 0 Rabiah Mayas PhD VP of Education & Guest Experience 226636 0 0 0 337 0 6050 0 8685 0 241708 0 0 0 Curt Gruber AVP, Marketing & Sales 181108 0 15000 0 1144 0 6339 0 378 0 203969 0 0 0 Hsinghua Chen General Counsel 174519 0 15000 0 0 0 6208 0 3221 0 198948 0 0 0 Devon Nelson AVP - Development 160208 0 5000 0 0 0 5950 0 21479 0 192637 0 0 0 Anne Rashford AVP - Govt Relations & Business Dev 161318 0 15000 0 1559 0 5302 0 8001 0 191180 0 0 0 Bradley Schiever AVP - Business Services & Guest Eng 151013 0 7500 0 0 0 1581 0 18761 0 178855 0 0 0 Part I, Line 4b Eligible executives participate in non-qualified deferred compensation plans organized under code Section 457(f). Contributions to the 457(f) plan during 2022 include: A. Chevy Humphrey - $64,850 A IFA Series 2017A-B 861091967 NoneAvail 2017-05-30 60000000 Series 2009 Bond Redemption 0 0 0 A 10694000 60000000 59600000 400000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 1 0 0 0 0 A 1 Part IV, Line 2c: Bond Counsel performed the rebate calculation for the period December 17, 2009 through December 17, 2014. X 1733 207774 FMV 0 0 1 0 Part I, Column (b): Column (b) represents the number of items contributed. For line 9, column (b) represents the number of donations contributed. Form 990, Part VI, Section A, line 2 James S. Crown and Lester Crown have a family relationship. Jason Pritzker and Cindy Pritzker have a family relationship. John A. Canning, Jr. and John F. Podjasek III have a family relationship. Barry L. MacLean and Duncan A. L. MacLean have a family relationship. James S. Crown and Lester Crown have a business relationship outside of the Museum. James S. Crown, Lester Crown, and Michael A. Reinsdorf have a business relationship outside of the Museum. Kent P. Dauten and Larry D. Richman have a business relationship outside of the Museum. William M. Goodyear and David A. Fisher serve on a board outside of the Museum. Eric P. Lefkofsky and Michael A. Reinsdorf serve on a board outside of the Museum. Edward M. Liddy and William A. Osborn serve on a board outside of the Museum. Richard H. Lenny and Sheila A. Penrose serve on a board outside of the Museum. Barry L. Maclean, Duncan A. L. Maclean, and Smita N. Shah have a business relationship outside of the Museum. David A. Fisher and Matthew M. Maloney serve on a board outside of the Museum. Barry L. Maclean and Duncan A. L. Maclean serve on a board outside of the Museum. E. Scott Santi and DG Macpherson serve on a board outside of the Museum. Form 990, Part VI, Section A, line 4 The Bylaws were amended to revise the number and composition of the organization's Board of Trustees and Officers. Form 990, Part VI, Section B, line 11b The Museum's Form 990 is prepared by an external public accounting firm who provides drafts for internal review. After the internal review, these drafts are updated, and a final draft is reviewed by the Chairperson of the Audit Committee and is made available to the Trustees electronically for their review, prior to electronically filing with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c The Museum formally sends a conflict of interest questionnaire annually to trustees, officers and employees. The Museum's compliance officer reviews the results of the questionnaires and investigates any reported potential conflicts for resolution as necessary. From time to time, the Museum conducts business with publicly traded companies at which certain Museum board members have an employment or board relationship. Business with these companies is entered into at arms-length and through the Museum's standard procurement process without influence from the interested board member(s). Any conflicts are resolved when interested board members excuse themselves when voting on matters related to the public company in which they serve. Form 990, Part VI, Section B, line 15 The Compensation Committee of the Board of Directors oversees and approves the compensation for the CEO. All members of the Compensation Committee are independent. The process consists of: 1. The Compensation Committee meets annually to review and make decisions on CEO compensation. 2. Individual performance is evaluated against goals and objectives that support MSI's mission and strategic priorities. 3. From time to time, HR prepares a compensation benchmark analysis consisting of peer institutions to ensure executive compensation remains competitive within industry and reasonable. 4. Each year, MSI leadership team determines if merit increases will be awarded to Museum staff. The Chief of People and Culture facilitates and drives this process to ensure consistency and fairness across the Museum. 5. The process is contemporaneously documented. Form 990, Part VI, Section C, line 18 The Museum posted a copy of its Form 990 on its website and made copies of Form 990 and 990-T publicly available upon request. As the Museum filed the application for recognition of exemption, Form 1023 before July 15, 1987, it need not be made publicly available. Form 990, Part VI, Section C, line 19 The Museum's annual report and the financial statements are made available to the public via the Museum's website and upon request, respectively. Governing documents and conflict of interest policy are available to the public upon request for the same period of disclosure as set forth in IRC section 6104(d). Form 990, Part IX, line 11g Consultants: Program service expenses 1,405,485. Management and general expenses 256,903. Fundraising expenses 154,077. Total expenses 1,816,465. Security Services: Program service expenses 1,806,708. Management and general expenses 5,851. Fundraising expenses 110. Total expenses 1,812,669. Temporary Labor: Program service expenses 39,665. Management and general expenses 2,756. Fundraising expenses 0. Total expenses 42,421. Janitorial Services: Program service expenses 1,545,834. Management and general expenses 133,273. Fundraising expenses 0. Total expenses 1,679,107. All Other Professional Fees: Program service expenses 748,956. Management and general expenses 19,214. Fundraising expenses 0. Total expenses 768,170. Form 990, Part XI, line 9: Change in Value of Life Insurance Policy 20,117. Gain (Loss) on Film Consortium Investment 19,779. Change in Value of Asset Retirement Obligation -28,684. Change in Value of Interest Rate Swap 3,529,980. Uncollectible Pledges -3,029,000.