2018-05-09T15:31:04-05:00 2017-06-30 042442519 EDELSTEIN AND COMPANY LLP 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2016-07-01 042103993 THE CHILDRENS MUSEUM CHIL 6174266500 308 CONGRESS STREET BOSTON MA 02210 AMY AUERBACH SVP & CFO 6174266500 2018-05-09 1 SCOTT KAPLOWITCH P00002440 6172276161 2018-05-01 2016 2022-09-23 18:48:47Z BOSTON CHILDREN'S MUSEUM AMY AUERBACH 308 CONGRESS STREET BOSTON MA 02210 13163846 0 X BOSTONCHILDRENSMUSEUM.ORG X 1913 MA BOSTON CHILDREN'S MUSEUM ENGAGES CHILDREN AND FAMILIES IN JOYFUL DISCOVERY EXPERIENCES THAT INSTILL AN APPRECIATION OF OUR WORLD, DEVELOP FOUNDATIONAL SKILLS, AND SPARK A LIFELONG LOVE OF LEARNING. BOSTON CHILDREN'S MUSEUM IS A WELCOMING, IMAGINATIVE, CHILD-CENTERED LEARNING ENVIRONMENT THAT SUPPORTS DIVERSE FAMILIES IN NUTURING THEIR CHILDREN'S CREATIVITY AND CURIOSITY. WE PROMOTE THE HEALTHY DEVELOPMENT OF ALL CHILDREN SO THAT THEY WILL FULFILL THEIR POTENTIAL AND CONTRIBUTE TO OUR COLLECTIVE WELLBEING AND FUTURE PROSPERITY. 25 25 139 720 42769 0 3947903 3648229 4820770 5292008 196397 347481 40047 780044 9005117 10067762 0 0 0 0 3694514 4399835 40000 0 489182 5741364 5609693 9475878 10009528 -470761 58234 59224941 59816404 16208680 14735318 43016261 45081086 X SEE SCHEDULE O - FORM 990 PART I LINE 1 0 0 3107410 3621662 VISITOR PROGRAMSTHE GOAL OF VISITOR PROGRAMS IS TO PROVIDE HIGH QUALITY EXPERIENCES FOR OUR LARGE AUDIENCE OF DIVERSE VISITORS, WHETHER THEY COME IN AS SCHOOL OR COMMUNITY GROUPS, OR FAMILIES. WE SEEK TO ADDRESS THE LEARNING NEEDS AND INTERESTS OF CHILDREN BIRTH TO TEN YEARS OLD, AS WELL AS THEIR ACCOMPANYING ADULTS WHO COMPRISE 50% OF THE AUDIENCE. TO DO THIS, WE DEVELOP STAFF TALENT IN DELIVERING EXCELLENT CUSTOMER SERVICE, PUBLIC PROGRAMS, AND ENGAGING INTERACTION WITH VISITORS TO HELP THEM MAXIMIZE THE LEARNING IMPACT AND DELIGHT IN DISCOVERY. VISITOR PROGRAMS WORKS TO CREATE AN INCLUSIVE ENVIRONMENT THAT WELCOMES ALL. 2454043 46668 EDUCATION PROGRAMSTHE GOAL OF EDUCATION PROGRAMS IS TO DEVELOP AND IMPLEMENT INTERACTIVE EXPERIENCES THAT ENHANCE THE MUSEUM'S EXHIBITS FOR CHILDREN AND ADULTS IN THE AREAS OF STEM AND STEAM, VISUAL AND PERFORMING ARTS, HEALTH AND WELLNESS, CULTURES, EARLY CHILDHOOD DEVELOPMENT AND LEARNING, AND COMMUNITY ENGAGEMENT. EDUCATION PROGRAMS INCLUDE SELF-GUIDED AND STRUCTURED SCHOOL PROGRAMS, SCHOOL READINESS PROGRAMS IN PARTNERSHIP WITH COMMUNITY AGENCIES, DESIGNATED PROGRAMS FOR CHILDREN AND FAMILIES WITH SPECIAL NEEDS, SCIENCE DISCOVERY PROGRAMS, ART STUDIO WORKSHOPS, PERFORMING ARTS DEMONSTRATIONS AND WORKSHOPS, AND LIVE THEATER EXPRESSLY GEARED TO YOUNG VISITORS. 2218538 71050 EXHIBITIONSTHE GOAL OF EXHIBITIONS IS TO DEVELOP, DESIGN AND PRODUCE INNOVATIVELY AWESOME EXPERIENCES THAT ENGAGE CHILDREN AND ADULTS IN MEANINGFUL ACTIVITIES THAT INSPIRE CREATIVITY, CURIOSITY, EXPERIMENTATION, PROBLEM SOLVING, AND COLLABORATION. EXHIBITS ARE POWERFUL TOOLS FOR PLAY AND LEARNING, AND FOR OPENING THE IMAGINATION TO NEW WORLDS AND IDEAS. WITH A GREAT DEPTH AND BREADTH OF STAFF EXPERTISE IN THE ARTS, STEM/STEAM, HEALTH AND WELLNESS, CULTURES AND EARLY CHILDHOOD EDUCATION, THE MUSEUM CREATES EXHIBITS THAT MAY APPEAR DECEPTIVELY SIMPLE BUT ARE FOUNDED IN THE THEORY AND PRACTICE OF HOW CHILDREN AND FAMILIES LEARN BEST. 325679 1552628 MEMBERSHIPS 325679 1552628 8105670 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 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 1 137 0 1 139 1 1 1 0 0 0 0 1 1 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X AMY AUERBACH 6174266500 308 CONGRESS STREET BOSTON MA 02210 PATRICIA A PARCELLIN TRUSTEE, VICE CHAIR THROUGH 10/17/16 1.80 X X 0 0 0 THOMAS MCCROREY TRUSTEE, TREASURER 0.50 X X 0 0 0 JILL SILVERSTEIN TRUSTEE, SECRETARY (THROUGH 2/1/17) 0.50 X X 0 0 0 KAREN G BAROODY TRUSTEE (THROUGH 10/17/16) 0.38 X 0 0 0 ANTHONY BORDON TRUSTEE 0.38 X 0 0 0 RENEE BOYNTON-JARRETT TRUSTEE 0.38 X 0 0 0 TODD CASSLER TRUSTEE 0.38 X 0 0 0 JOSEPH CHOW TRUSTEE (THROUGH 5/1/17) 0.38 X 0 0 0 MARTHA COAKLEY TRUSTEE 0.38 X 0 0 0 DAVID CRAWFORD TRUSTEE (THROUGH 8/1/16) 0.38 X 0 0 0 MARY CULLINANE TRUSTEE 0.38 X 0 0 0 NIRAV DAGLI TRUSTEE, CHAIRMAN (AS OF 10/17/16) 3.75 X X 0 0 0 WING DELATORRE TRUSTEE 0.38 X 0 0 0 RICK DIMINO TRUSTEE 0.50 X 0 0 0 DAVID HEALY TRUSTEE 0.38 X 0 0 0 JASON JANOFF TRUSTEE 0.38 X 0 0 0 DEBORAH JOELSON TRUSTEE, VICE CHAIR (AS OF 10/17/16) 0.50 X X 0 0 0 MIEKO KAMII TRUSTEE 0.38 X 0 0 0 MADGE MEYER TRUSTEE 0.38 X 0 0 0 BHASKER NATARAJAN TRUSTEE 0.38 X 0 0 0 ERICA GERVAIS PAPPENDICK TRUSTEE (THROUGH 8/1/16) 0.38 X 0 0 0 LIAM PATRICK TRUSTEE 0.38 X 0 0 0 JANE POST TRUSTEE (THROUGH 3/1/17) 0.38 X 0 0 0 JAMES ROONEY TRUSTEE 0.38 X 0 0 0 JAN SMITH TRUSTEE, VICE CHAIR (AS OF 10/17/16) 0.50 X X 0 0 0 PETER TORREBIARTE TRUSTEE 0.38 X 0 0 0 AISHA AL RIYAMI TRUSTEE (AS OF 6/14/17) 0.38 X 0 0 0 AUNOY BANERJEE TRUSTEE (AS OF 10/17/16) 0.38 X 0 0 0 PAUL BLANDINI TRUSTEE (AS OF 10/17/16) 0.38 X 0 0 0 JULIE GORDON TRUSTEE (AS OF 6/14/17) 0.38 X 0 0 0 KELLY HILLER TRUSTEE, SECRETARY (AS OF APRIL 2017) 0.50 X X 0 0 0 PRAKASH VENKATA TRUSTEE (AS OF 3/15/17) 0.38 X 0 0 0 MICHAEL W YOGMAN TRUSTEE, CHAIRMAN (THROUGH 10/17/16) 3.75 X X 0 0 0 CAROLE CHARNOW PRESIDENT/CEO 35.00 X 226900 0 23018 AMY AUERBACH SVP/CFO 35.00 X 139896 0 14561 HAYLEY BOYD ASSISTANT SECRETARY (AS OF 7/30/16) 35.00 X 9570 0 1341 ALLYSON CLANCY ASSISTANT SECRETARY (THROUGH 7/30/16) 35.00 X 22986 0 215 LESLIE SWARTZ SVP PROGRAMMING & RESEARCH 35.00 X 112501 0 11415 GERALDINE ROBINSON VP EARLY CHILDHOOD 35.00 X 108064 0 10627 ALEXANDER GOLDOWSKY VP EXHIBITS 35.00 X 117990 0 1588 SUE KIM VP DEVELOPMENT 35.00 X 140600 0 834 878507 0 63599 6 0 1 0 ACP CLEANING INC PO BOX 2411 WOBURN MA 01888 MUSEUM & TENANT CLEANING 566816 CB RICHARD ELLISNE PARTNERS 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 PROPERTY MANAGEMENT 535252 CHAPMAN WATERPROOFING 395 COLUMBIA ROAD BOSTON MA 02125 BRICK REPOINTING SERVICES 495843 LUCKEY LLC 14 VERNON STREET EAST HAVEN CT 06512 CLIMBER EXHIBIT REFURBISHMENT 369765 SECURITAS SECURITY SERVICES US 77 SUMMER STREET 4TH FLOOR BOSTON MA 02110 MUSEUM & BUILDING SECURITY 251868 6 446019 596541 2605669 377626 3648229 ADMISSIONS 900099 3311552 3311552 MEMBERSHIPS 900099 1552628 1552628 PROGRAM FEES 900099 357828 354005 3823 TRAVELING EXHIBITS 900099 70000 70000 5292008 54170 54170 2435509 2191511 243998 243998 38946 205052 971218 677907 293311 293311 293311 114948 446019 226666 -111718 -111718 ANCILLARY SERVICES 900099 647764 647764 647764 10067762 5935949 42769 440815 481550 372756 108794 3329126 2571481 507605 250040 71255 58187 12610 458 252790 208217 35292 9281 265114 187751 55537 21826 9255 2461 6794 42300 42300 509121 398141 105607 5373 143156 142849 307 278843 154068 99865 24910 349045 59606 287289 2150 1994869 1867078 117585 10206 89256 41193 43930 4133 11118 8805 1574 739 1880444 1737303 138229 4912 21574 9702 11872 MATERIALS AND SUPPLIES 163022 155230 5702 2090 EQUIPMENT RENTAL- REPAI 128858 91654 37145 59 BANK AND CC FEES 121075 118949 1529 597 PROFESSIONAL DEVELOPMEN 15570 4361 10568 641 -147813 288634 -479420 42973 10009528 8105670 1414676 489182 6446810 8322729 1218237 790966 228974 274883 61632 78830 64720799 30883629 35535628 33837170 14788889 15891565 944771 620261 59224941 59816404 1204345 1305923 14000000 13031352 292579 303696 711756 94347 16208680 14735318 X 32555123 33150136 6335944 7700668 4125194 4230282 43016261 45081086 59224941 59816404 X 58234 1421278 585313 X X 0 1 X 1 0 X 2246408 3616390 4198634 3947903 3648229 17657564 5044312 4932564 4869069 5297768 6050897 26194610 7290720 8548954 9067703 9245671 9699126 43852174 211941 121174 121919 151695 114350 721079 0 211941 121174 121919 151695 114350 721079 43131095 2074937 2251675 2242061 1968919 2489679 11027271 2074937 2251675 2242061 1968919 2489679 11027271 9365657 10800629 11309764 11214590 12188805 54879445 0.78590 0.78640 0.20090 0.20010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 16525233 2155355 1768013 2024828 18423773 19079219 2466548 -502273 4518261 16525233 18557241 2585110 -114621 1948511 19079219 17216502 1389957 2030639 2079857 18557241 15563254 1059983 1800499 1207234 17216502 0.35240 0.22960 0.41800 0 0 3331193 3331193 46089866 18053895 28035971 2263086 1536617 726469 13036654 11293117 1743537 33837170 DERIVATIVE FINANCIAL INSTRUMENTS 94347 94347 13890266 1421278 16834 1438112 12452154 -2384392 -2384392 10067762 11825441 16834 1799079 1815913 10009528 0 10009528 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, THE VALUE OF PROPERTY DONATED FOR THE MUSEUM COLLECTION IS NOT REFLECTED ON THE STATEMENT OF FINANCIAL POSITION. THE COLLECTION IS DEEMED INEXHAUSTIBLE. THE COLLECTION IS MAINTAINED FOR EDUCATION AND RESEARCH AND FURTHERANCE OF THE MUSEUM'S GOALS RATHER THAN FINANCIAL GAIN. THE COLLECTION IS PROTECTED, KEPT UNENCUMBERED AND IS SUBJECT TO AN ORGANIZATIONAL POLICY THAT ENCOURAGES PERMANENT POSSESSION. PART III, LINE 4: BOSTON CHILDRENS MUSEUM HAS BEEN A COLLECTING INSTITUTION SINCE ITS BEGINNING IN 1913 AND TODAY THE COLLECTIONS NUMBER APPROXIMATELY 50,000 OBJECTS, INCLUDING CULTURAL ARTIFACTS AND NATURAL HISTORY SPECIMENS, WHICH CAN BE BROKEN INTO SIX MAIN COLLECTING AREAS: NATIVE AMERICAN, JAPANESE, AMERICANA, GLOBAL DOLLS, GENERAL CULTURAL COLLECTIONS, AND NATURAL HISTORY. THE COLLECTION IS MOST FREQUENTLY USED TO ENHANCE MUSEUM EXHIBITS, FOR SCHOLARLY RESEARCH, AS WELL AS EDUCATIONAL PROGRAMMING. PART V, LINE 4: THE ORGANIZATION'S TERM ENDOWMENTS ARE USED FOR THE FOLLOWING PURPOSES: 1) EXHIBITS 2) CAPITAL IMPROVEMENTS AND 3) OTHER PROGRAMS. THE MUSEUM USES ITS PERMANENT ENDOWMENTS IN ACCORDANCE WITH UPMIFA AND SPENDS FOUR-AND-A-HALF PERCENT OF THE AVERAGE OF THE FMV OF EACH OF THE PREVIOUS 12 QUARTERS TO SUPPORT CURRENT OPERATIONS. THE BOARD-DESIGNATED AND QUASI-ENDOWMENTS ARE USED AT THE BOARD'S DISCRETION. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -2,191,511. DIRECT EXPENSES OF FUNDRAISING EVENTS -226,666. BOOK-TAX RENTAL INCOME ADJUSTMENT PER IRC 467 33,785. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 2,191,511. BAD DEBT RECOVERIES FROM UNCOLLECTIBLE PLEDGES -1,689. DIRECT EXPENSES OF FUNDRAISING EVENTS 226,666. UNREALIZED GAIN ON DERIVATIVE INSTRUMENTS -617,409. GALA 547267 432319 114948 19171 40615 69514 7650 69015 SILLY SOIREE 13700 13700 2397 10387 4495 3422 560967 446019 114948 19171 43012 79901 12145 72437 226666 -111718 X X X X X 0 0 0 0 0 0 0 0 0 CAROLE CHARNOW PRESIDENT/CEO 226900 0 0 0 0 0 9570 0 13448 0 249918 0 0 0 AMY AUERBACH SVP/CFO 139896 0 0 0 0 0 6002 0 8559 0 154457 0 0 0 A MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431181 57583RGQ2 2006-09-25 SEE SCHEDULE K, PAGE 2, PART V 0 0 0 A 6921695 30000000 396523 22681782 2007 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 0 1 1 CITIZENS BANK 10.000000000000 0 0 0 0 0 A 0 SCHEDULE K, PART I, ITEM A, COLUMN F DESCRIPTION OF BOND PURPOSE TO FINANCE AND REFINANCE THE CAPITAL COSTS OF THE: A)ACQUISITION, CONSTRUCTION, RENOVATION AND EQUIPPING OF THE BORROWER'S FACILITIES; B) PROJECTS ORIGINALLY FINANCED WITH SERIES 2001 BONDS; AND C) CERTAIN COSTS OF ISSUANCE. SCHEDULE K, PART IV, QUESTIONS 3,4,5,6,7 ARBITRAGE THE MUSEUM HAS TWO QUALIFIED HEDGES. 3- YES 4A- YES 4B- CITIZENS BANK 4C- 5 YEARS 4D- NO 4E- NO 5- NO 5B,C,D- N/A 6- NO 7- NO X 6 377626 MARKET QUOTATIONS 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE AND AUDIT COMMITTEES ARE THE GOVERNING BODIES THAT HAVE RESPONSIBILITY FOR REVIEWING THE FORM 990. THIS FORM WAS DISTRIBUTED BY EMAIL TO THESE COMMITTEES PRIOR TO THE FILING DATE, LEAVING TIME FOR QUESTIONS AND COMMENTS. IN ADDITION, THE ENTIRE BOARD OF TRUSTEES ALSO RECEIVES A COPY OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE MUSEUM ASKS ALL THE TRUSTEES AND OFFICERS TO REVIEW AND EXECUTE A CONFLICT OF INTEREST POLICY STATEMENT. IT IS THE RESPONSIBILITY OF THE PRESIDENT/CEO AND THE BOARD CHAIR TO REVIEW AND DISCLOSE CONFLICTS AND HANDLE THE MATTER AS HE OR SHE DEEMS APPROPRIATE. THE CONFLICT OF INTEREST POLICY STATEMENT ALSO OBLIGATES EACH FIDUCIARY, ON AN ONGOING BASIS, TO REPORT ANY CONFLICTS EITHER EXISTING OR PERCEIVED TO THE PRESIDENT/CEO OR BOARD CHAIR. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR REVIEWING AND DETERMINING THE CEO'S COMPENSATION IS AS FOLLOWS: THERE IS A COMPENSATION COMMITTEE, WHICH IS A SUBSET OF THE BOARD OF TRUSTEES WHICH CONVENES TWICE A YEAR TO REVIEW THE CEO'S PERFORMANCE AND CONSIDER MARKET DATA FOR THIS POSITION. BASED ON THIS REVIEW, A COMPENSATION PACKAGE IS ADJUSTED AND AGREED UPON EACH YEAR. IN 2017, THE MUSEUM HIRED AN INDEPENDENT COMPENSATION CONSULTANT TO ANALYZE CURRENT SALARY AND WAGES OF THE ENTIRE ORGANIZATION AGAINST MARKET CONDITIONS. NEW JOB RANGES AND POSITION CATEGORIES WERE ESTABLISHED AND A PLAN WAS CREATED TO ADJUST SALARIES AND WAGES OVER TIME. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE AS WELL AS UPON REQUEST. FORM 990, PART XI, LINE 9: UNREALIZED GAIN ON DERIVATIVE INSTRUMENTS 617,409. BOOK-TAX RENTAL INCOME ADJUSTMENT PER IRC 467 -33,785. BAD DEBT RECOVERIES FROM UNCOLLECTIBLE PLEDGES 1,689. FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE MUSEUM'S FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT AUDITOR. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.