2025-11-11T16:28:38-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 4150 2ND STREET SOUTH SUITE 400 ST CLOUD MN 56301 990 2024-01-01 510175508 THE BAKKEN THEB 6129263878 3537 ZENITH AVE S MINNEAPOLIS MN 554164623 HEATHER WALCH BOARD CHAIR 6129263878 2025-11-11 1 1 KRISTIN L SCHMIDT CPA P01487323 3202035500 2025-11-11 2024 2025-03-06 01:10:19Z HEATHER WALCH 3537 ZENITH AVE S MINNEAPOLIS MN 554164623 1861042 0 X WWW.THEBAKKEN.ORG X 1975 MN TO INSPIRE A PASSION FOR INNOVATION 27 25 42 124 0 0 1077308 863961 641100 740610 -129728 206435 2795 -70933 1591475 1740073 0 0 0 0 1865400 1550987 0 0 292782 1187900 1126987 3053300 2677974 -1461825 -937901 16750957 16504732 1089549 683616 15661408 15821116 THE BAKKEN MUSEUM INSPIRES A PASSION FOR INNOVATION BY EXPLORING THE POTENTIAL FOR SCIENCE, TECHNOLOGY, AND THE HUMANITIES TO MAKE THE WORLD A BETTER PLACE. 0 0 1150336 0 196498 EDUCATION PROGRAMS: THE BAKKEN PROVIDES SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM) EXPERIENCES THROUGH OFFSITE OUTREACH PROGRAMS, ONSITE FIELD TRIPS, INNOVATIVE CAMPS AND WORKSHOPS. OUR PROGRAMS INSPIRE THE NEXT GENERATION OF INNOVATORS TO TRANSFORM THE FUTURE. 381643 0 542347 PUBLIC PROGRAMS: THE BAKKEN INSPIRES A PASSION FOR INNOVATION FOR ALL CHILDREN, FAMILIES, AND ADULTS VISITING THE MUSEUM. PROGRAMMING INCLUDES EDUCATIONAL ACTIVITIES FOR CHILDREN SUCH AS DISCOVERY DAYS AND SCIENCE STUDIOS, TOURS, EVENING EVENTS FOR ADULTS, AND PARTNERSHIPS WITH COMMUNITY ORGANIZATIONS . 323171 0 1765 EXHIBITS AND COLLECTIONS: THE BAKKEN'S EXHIBITS ARE HANDS-ON DISPLAYS THAT EDUCATE, INSPIRE, AND SPARK INNOVATION WITHIN OUR VISITORS. THE BAKKEN'S UNDERGROUND VAULTS HOUSE A COLLECTION OF ARTIFACTS AND BOOKS. THE SCOPE OF THE COLLECTIONS IS THE INTERSECTION OF THE HISTORY OF ELECTRICITY AND MAGENTISM, AND THE LIFE SCIENCES AND MEDICINE. THE COLLECTIONS REFLECT EARL BAKKEN'S BELIEF IN THE IMPORTANCE OF STUDYING HISTORY, SELF-INQUIRY, AND EXPERIMENTATION. THEY ARE OPEN TO THE PUBLIC AND AVAILABLE FOR RESEARCH AND ARE BEING UTILIZED IN OUR EXHIBITS. 1855150 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 21 0 1 42 1 0 0 0 0 0 0 0 0 0 0 0 0 X 27 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN NY HI X X CAITLIN RAE WARNER 6129263878 3537 ZENITH AVE S MINNEAPOLIS MN 554164623 ALISSA LIGHT PRESIDENT & CEO - PART YEAR 40.00 X X 45208 0 5399 CHERYL JENSEN INTERIM CEO 40.00 X X 72846 0 0 HEATHER WALCH CHAIR 2.50 X X 0 0 0 BRAD BAKKEN PAST CHAIR 2.00 X X 0 0 0 MARK VAN OSNABRUGGE VICE CHAIR 2.00 X X 0 0 0 PAULA SKJEFTE TREASURER 2.00 X X 0 0 0 CAROLINE BYRD SECRETARY 2.00 X X 0 0 0 BARB STINNETT DIRECTOR 2.00 X 0 0 0 CARL STAMP DIRECTOR 2.00 X 0 0 0 DOUG PAULSON DIRECTOR 2.00 X 0 0 0 DR MARY JO KREITZER DIRECTOR 2.00 X 0 0 0 GEORGINE L BUSCH DIRECTOR 2.00 X 0 0 0 HEATHER CAMPE DIRECTOR 2.00 X 0 0 0 JEFF HILLINS DIRECTOR 2.00 X 0 0 0 JESSICA BURDETTE DIRECTOR 2.00 X 0 0 0 JOHN URIBE DIRECTOR 2.00 X 0 0 0 MATT BOEHLKE DIRECTOR 2.00 X 0 0 0 MOLLY SANFORD DIRECTOR 2.00 X 0 0 0 RAQUEL BRISKIN DIRECTOR 2.00 X 0 0 0 REBECCA BERGMAN DIRECTOR 2.00 X 0 0 0 STACY LYNN KROMENHOEK DIRECTOR 2.00 X 0 0 0 CHANCEY ANDERSON DIRECTOR 2.00 X 0 0 0 ADITEE KURANE DIRECTOR 2.00 X 0 0 0 RYAN JOHNSON DIRECTOR 2.00 X 0 0 0 MUKUND PRAJAPATI DIRECTOR 2.00 X 0 0 0 DEREK MCCALLUM DIRECTOR 2.00 X 0 0 0 JEFFREY RAINEY DIRECTOR 2.00 X 0 0 0 NATALIE NARANJO DIRECTOR 2.00 X 0 0 0 118054 0 5399 0 0 0 0 TK ELEVATOR 40 51ST WAY NE 300 FRIDLEY MN 55421 ELEVATOR MAINTENANCE AND REPAIR 114388 1 36508 73779 261958 491716 21454 863961 EDUCATIONAL PROGRAMS 541900 577673 577673 FACILITY USE FEES 541900 162937 162937 740610 206435 206435 0 73779 103277 -103277 -103277 34035 17692 16343 16343 MISCELLANEOUS REVENUE 900099 16001 16001 16001 1740073 740610 0 135502 123454 61727 61727 1201141 1000317 100555 100269 38500 30507 3850 4143 90482 70851 9475 10156 97410 73349 11934 12127 28733 28733 9999 9999 52560 52560 207800 67110 99253 41437 7875 7157 654 64 2288 2078 190 20 191522 155334 17499 18689 13649 11208 2441 4850 3983 867 36774 36774 350302 281783 33173 35346 56344 45427 5172 5745 SUPPLIES AND EQUIPMENT 67746 67578 168 0 STAFF DEVELOP/RECRUIT 55802 423 55124 255 TAXES AND LICENSES 27196 18765 5711 2720 DUES AND SUBSCRIPTIONS 12368 8102 4182 84 1179 1179 2677974 1855150 530042 292782 90376 63232 95873 46859 227997 52304 13848 10775 33904 42147 12048057 7726224 4474031 4321833 7699168 7981099 4115760 3986483 16750957 16504732 192958 166125 68982 70300 825000 436000 2609 11191 1089549 683616 X 14324906 14623731 1336502 1197385 15661408 15821116 16750957 16504732 -937901 1097609 0 X 0 1 X 1 0 X 1398800 1925794 1426675 1077308 863961 6692538 1398800 1925794 1426675 1077308 863961 6692538 2535167 4157371 165709 147759 133066 135862 206435 788831 4048 1497 11905 12561 16001 46012 7527381 2840876 0.55230 0.22680 X THE ORGANIZATION MAINTAINS ACTIVE COMMUNITY SUPPORT WHICH HAS SUCCESSFULLY ATTRACTED CONTRIBUTIONS FROM THE GENERAL PUBLIC. THE ORGANIZATION'S BOARD OF DIRECTORS REPRESENTS LEADERSHIP FROM AND OF THE COMMUNITY, AS WELL AS NONPROFIT MANAGEMENT EXPERTISE. THE BOARD HAS BEEN DESIGNED BOTH TO FACILITATE INVOLVEMENT BY FUNDERS AND TO ENSURE ACCOUNTABILITY TO THE BROAD COMMUNITY THE BAKKEN SERVES. THE ORGANIZATION HAS MANY PROGRAMS, COLLABORATIONS, AND RESOURCES AVAILABLE BOTH ON-SITE AND OFF-SITE THAT PROVIDE THE PUBLIC AND COMMUITY WITH EDUCATION AND ACCESS TO LEARNING ABOUT THE WORLD OF SCIENCE IN GENERAL WITH SPECIFIC EXPERTISE AND EMPHASIS ON ELECTRICITY AND MAGNETISM. SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 9999 9999 0 PART II-B, LINE 1: REPRESENT THE BAKKEN IN ITS REQUEST FOR STATE FUNDING, INCLUDING COMMITTEE HEARINGS, FLOOR SESSIONS OF THE SENATE AND HOUSE, AND MEETINGS WITH INDIVIDUAL LEGISLATORS, THE GOVERNOR'S OFFICE AND STATE AGENCIES. LEGISLATIVE LOBBYING FUNDING FOR THE BAKKEN INCLUDING DRAFTING OF BILLS, IDENTIFICATION OF AUTHORS, PREPARATION OF AUTHORS AND WITNESSES TO TESTIFY, AND SECURING HEARINGS. TRACKING LEGISLATION INCLUDING HOUSE AND SENATE OMNIBUS BILLS, THE BUDGET RECOMMENDATIONS AND ANY OTHER PERTINENT LEGISLATION. MAINTAIN LIAISON WITH THE GOVERNOR'S OFFICE AND STATE AGENCY OFFICIALS TO LOBBY FUNDING FOR THE BAKKEN. 900 2968523 X X X X 0 7699168 914998 633067 7981099 7182274 816894 300000 7699168 9137939 -1515707 439958 7182274 8587095 850844 300000 9137939 7505554 1306541 225000 8587095 1.00000 0.00000 0.00000 0 0 11589122 7351701 4237421 458935 374523 84412 4321833 LIBRARY & MUSEUM COLLECTIONS 2968523 LEAD TRUST PLEDGE RECEIVABLE 1009912 FINANCING RIGHT-OF-USE ASSET, NET 8048 3986483 LEASE LIABILITY 9015 OTHER LIABILITIES 2176 11191 X 2906225 1097609 134 17692 1115435 1790790 52560 -103277 -50717 1740073 2746517 134 120969 121103 2625414 52560 52560 2677974 PART III, LINE 4: THE BAKKEN MUSEUM HAS A COLLECTION OF APPROXIMATELY 11,000 RARE BOOKS AND 2,300 ARTIFACTS DOCUMENTING THE HISTORY OF ELECTRICITY AND MAGNETISM. THE COLLECTION OFFERS A UNIQUE RESOURCE TO SCHOLARS, SCIENTISTS, STUDENTS, TEACHERS, PHYSICIANS, AND THE GENERAL PUBLIC. THE COLLECTION IS UTILIZED IN CHANGING EXHIBITS, PUBLIC PROGRAMS, AND AS A SOURCE OF INFORMATION FOR K-12 EDUCATIONAL PROGRAMS TO INSPIRE GREATER INTEREST IN AND UNDERSTANDING OF SCIENCE. PART X, LINE 2: THE ORGANIZATION HAS A TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND MINNESOTA STATUTE 209.3. CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. THE ORGANIZATION FOLLOW GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE ORGANIZATION IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS TAKEN. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 17,692. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -103,277. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 17,692. FUNDRAISING EXPENSES 103,277. X X X X X X 0 BRILLIANT FUNDRAISER 73779 73779 21454 8870 1514 71439 73779 73779 21454 8870 1514 71439 103277 -103277 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD OF DIRECTORS SHALL DESIGNATE AN EXECUTIVE COMMITTEE, THE MEMBERSHIP OF WHICH SHALL INCLUDE AT LEAST THREE (3) DIRECTORS. THE EXECUTIVE COMMITTEE SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD, AND SUCH OTHER POWERS AND DUTIES AS SHALL BE DESIGNATED BY THE BOARD OF DIRECTORS FROM TIME TO TIME. THE EXECUTIVE COMMITTEE SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE ORGANIZATION'S PUBLIC ACCOUNTING FIRM BASED ON INFORMATION PROVIDED BY THE ORGANIZATION. THE 990 DRAFT IS PROVIDED TO MANAGEMENT FOR THEIR REVIEW, WITH ANY COMMENTS OR CORRECTIONS INCORPORATED INTO THE FILING. THE FINANCE COMMITTEE THEN REVIEWS THE FORM 990 IN CONJUNCTION WITH THE ORGANIZATION'S AUDITED FINANCIAL STATEMENT, MAKING COMPARISONS FOR CONSISTENCY AND ACCURACY. FINALLY, THE 990 IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION ANNUALLY ASKS ALL TRUSTEES AND KEY EMPLOYEES TO COMPLETE A CONFLICT-OF-INTEREST FORM. THE COI FORMS ARE REVIEWED BY THE PRESIDENT & CEO WITH THE BOARD GOVERNANCE COMMITTEE. TRUSTEES OR KEY EMPLOYEES WHO DISCLOSE CONFLICTS ARE REQUIRED TO REFRAIN FROM DISCUSSING OR VOTING ON THE PARTICULAR TRANSACTION IN WHICH THEY HAVE AN INTEREST. ALL PROCEEDINGS RELATED TO CONFLICT-OF-INTERESTS ARE DOCUMENTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 15 TO DETERMINE THE COMPENSATION OF THE PRESIDENT & CEO, THE PERSONNEL COMMITTEE OF THE BAKKEN BOARD OF DIRECTORS EVALUATES THE PERFORMANCE OF THE PRESIDENT & CEO AND CONSIDERS THAT IN RELATION TO AT LEAST TWO SALARY SURVEYS, INCLUDING THE MOST RECENT MN COUNCIL OF NONPROFITS SALARY AND BENEFITS SURVEY. THE COMMITTEE MAKES A RECOMMENDATION TO THE FULL BOARD AND THE ACTION IS DOCUMENTED IN THE MINUTES. THE PROCESS WAS LAST UNDERTAKEN IN 2021. THERE WAS NO REVIEW IN 2022 AS THE PRESIDENT & CEO RESIGNED, WITH HIS LAST DAY BEING IN MARCH OF 2022. THERE WAS NO REVIEW IN 2023, AS THE NEW PRESIDENT & CEO WAS APPOINTED IN THE LAST QUARTER OF 2022. THE PRESIDENT & CEO EVALUATES THE COMPENSATION OF THE EXECUTIVE VICE PRESIDENT, THE VP OF FINANCE AND ADMINISTRATION, THE VP OF LEARNING, AND THE VP OF PHILANTHROPY. THE COMPENSATION STRUCTURE AND PAY GRADES FOR ALL POSITIONS WERE FORMALIZED AND DETERMINED USING SALARY DATA FROM THE MN COUNCIL OF NONPROFITS AND THE AMERICAN ALLIANCE OF MUSEUMS. THE STRUCTURE WAS REVIEWED AND APPROVED BY THE PERSONNEL COMMITTEE. THE PROCESS WAS LAST UNDERTAKEN IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC THROUGH THE USE OF THEIR WEBSITE, THEBAKKEN.ORG. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC.