2017-09-29T08:40:38-05:00 2016-12-31 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2016-01-01 362167797 Museum of Science and Industry MUSE 7736841414 5700 S Lake Shore Drive Chicago IL 606372093 Rose B Fealy VP Finance & Admin/CFO 7736841414 2017-09-29 1 Wayne Harder P00294296 3126343400 108.171.131.188 2017-09-29 08:18:25 CD P 4B8E1423B9F197D509CCF13AB357181C17C415CB E8306AB20C0160E8154E0B2ED0E8D71D75EF1DFE 2016 2021-01-29 14:40:06Z David R Mosena 5700 S Lake Shore Drive Chicago IL 606372093 98514490 0 X www.msichicago.org X 1933 IL Museum of Science and Industry seeks to further public understanding of science, technology and industry by providing visitors with integrated learning experiences. 107 106 636 502 1930015 0 53640621 33285080 19297363 17973049 11171194 1625404 5442175 7208475 89551353 60092008 7700 6700 0 0 25683166 27630544 0 0 5926029 34649960 36753229 60340826 64390473 29210527 -4298465 278315575 276251494 73360703 70453143 204954872 205798351 X The Museum of Science and Industry (the Museum) in Chicago is the largest science museum in the Western hemisphere and home to thousands of exhibits and artifacts. For more than 80 years, the Museum has been a premier destination in Chicago. The Museum's mission is to inspire the inventive genius in everyone, and its vision is to inspire and motivate children to achieve their full potential in science, technology, medicine and engineering. Approximately 340,000 students are among the nearly 1.5 million guests that visit each year. Through its Center for the Advancement of Science Education (CASE), the Museum reaches thousands of students and teachers through special programs, learning labs and educator workshops. 0 0 25440856 10023582 Museum and Operations, which include guest 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. 12196449 5446914 World-class permanent exhibitions which include Science Storms, a 26,000-square-foot exhibit that reveals the extraordinary science behind some of nature's most powerful and compelling phenomena; Numbers in Nature, an exhibit that exposes and explains hidden patterns in the natural world and features a 1,800-square-foot mirror maze; 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 guests down 50 feet in a real hoist to the bottom of a mineshaft; Future Energy Chicago, a multi-player visual simulation where teams of guests work together to develop a greener city; The Great Train Story, a dynamic model display that illustrates modern rail operation; and the Omnimax Theater, which features educational films, rich in content and presented on Chicago's only five-story, domed wrap-around movie screen. 6535058 6700 464118 Educational Programs and Activities, which include the Museum's Center for the Advancement of Science Education (CASE) 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. 3074970 3776406 Retail and supporting services represent various program offerings that enhance the guest experience. These include the Omnimax theater, museum store, food services, and parking services. 3074970 3776406 47247333 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 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 153 0 1 636 1 1 1 0 0 0 0 1 1 0 0 0 0 X 107 106 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA FL IL MI NY WI X X Jonathan Assell 7736841414 5700 S Lake Shore Drive Chicago IL 606372093 Kent P Dauten Chairman/Trustee 1.00 X 0 0 0 John A Canning Jr Past Chairman/Trustee 1.00 X 0 0 0 Allan E Bulley Jr Vice Chairman/Trustee 1.00 X 0 0 0 Alison L Chung Vice Chairman/Trustee 1.00 X 0 0 0 Frank M Clark Vice Chairman/Trustee 1.00 X 0 0 0 Michael W Ferro Jr Vice Chairman/Trustee 1.00 X 0 0 0 James A Gordon Vice Chairman/Trustee 1.00 X 0 0 0 Jay L Henderson Vice Chairman/Trustee 1.00 X 0 0 0 Robert A Livingston Vice Chairman/Trustee 1.00 X 0 0 0 Barry L MacLean Vice Chairman/Trustee 1.00 X 0 0 0 Sheila A Penrose Vice Chairman/Trustee 1.00 X 0 0 0 Jeffrey S Aronin Trustee 1.00 X 0 0 0 William C Bartholomay Trustee 1.00 X 0 0 0 Christopher B Begy Trustee 1.00 X 0 0 0 Charles K Bobrinskoy Trustee 1.00 X 0 0 0 David C Bohnett Trustee 1.00 X 0 0 0 Matthew J Boler Trustee 1.00 X 0 0 0 Barbara L Bowles Trustee 1.00 X 0 0 0 Byron T Brazier DMin Trustee 1.00 X 0 0 0 Michelle L Collins Trustee 1.00 X 0 0 0 Christopher M Crane Trustee 1.00 X 0 0 0 James S Crown Trustee 1.00 X 0 0 0 Kenneth K Dort Trustee 1.00 X 0 0 0 Ann M Drake Trustee 1.00 X 0 0 0 James J Drury III Trustee 1.00 X 0 0 0 W James Farrell Trustee 1.00 X 0 0 0 David A Fisher Trustee 1.00 X 0 0 0 Dennis J FitzSimons Trustee 1.00 X 0 0 0 James J Fuentes Trustee 1.00 X 0 0 0 Matthew R Gibson Trustee 1.00 X 0 0 0 Ronald J Gidwitz Trustee 1.00 X 0 0 0 James T Glerum Jr Trustee 1.00 X 0 0 0 William M Goodyear Trustee 1.00 X 0 0 0 James A Gray Trustee 1.00 X 0 0 0 Catherine P Greenspon Trustee 1.00 X 0 0 0 Richard P Grimley Trustee 1.00 X 0 0 0 Doug C Grissom Trustee 1.00 X 0 0 0 Betsy D Holden Trustee 1.00 X 0 0 0 David R Hopping Trustee 1.00 X 0 0 0 Edward L Kaplan Trustee 1.00 X 0 0 0 Michael P Krasny Trustee 1.00 X 0 0 0 Avis LaVelle 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 Christopher B Lorenzen Trustee 1.00 X 0 0 0 Duncan A L MacLean Trustee 1.00 X 0 0 0 Matthew M Maloney Trustee 1.00 X 0 0 0 Walter E Massey PhD Trustee 1.00 X 0 0 0 Andrew J McKenna Trustee 1.00 X 0 0 0 William L Morrison Trustee 1.00 X 0 0 0 Oscar Munoz Trustee 1.00 X 0 0 0 Robert S Murley Trustee 1.00 X 0 0 0 William A Mynatt Jr Trustee 1.00 X 0 0 0 Robert F Paisin Trustee 1.00 X 0 0 0 James M Peck Trustee 1.00 X 0 0 0 Jason Pritzker Trustee 1.00 X 0 0 0 Scott A Rafferty Trustee 1.00 X 0 0 0 J Christopher Reyes Trustee 1.00 X 0 0 0 Larry D Richman Trustee 1.00 X 0 0 0 Desire Rogers Trustee 1.00 X 0 0 0 Jesse H Ruiz Trustee 1.00 X 0 0 0 James T Ryan Trustee 1.00 X 0 0 0 Michael J Sacks Trustee 1.00 X 0 0 0 Juan Salgado Trustee 1.00 X 0 0 0 Manuel Sanchez Trustee 1.00 X 0 0 0 John F Sandner Trustee 1.00 X 0 0 0 E Scott Santi Trustee 1.00 X 0 0 0 Ronald M Saslow Trustee 1.00 X 0 0 0 Smita Shah Trustee 1.00 X 0 0 0 Ilan Shalit Trustee 1.00 X 0 0 0 Gregory D Smith Trustee 1.00 X 0 0 0 Melody A Spann-Cooper Trustee 1.00 X 0 0 0 J Douglas Sparkman Trustee 1.00 X 0 0 0 Byron O Spruell Trustee 1.00 X 0 0 0 Mark Thierer Trustee 1.00 X 0 0 0 Elizabeth M Thompson Trustee 1.00 X 0 0 0 Ralph Wanger Trustee 1.00 X 0 0 0 Gregory D Wasson Trustee 1.00 X 0 0 0 Ann C Williams Trustee 1.00 X 0 0 0 Thomas J Wilson Trustee 1.00 X 0 0 0 Neal S Zucker Trustee 1.00 X 0 0 0 Rhett W Butler Life Trustee 1.00 X 0 0 0 Peter R Carney Life Trustee 1.00 X 0 0 0 Frank W Considine Life Trustee 1.00 X 0 0 0 Lester Crown Life Trustee 1.00 X 0 0 0 Victor J Danilov EdD Life Trustee 1.00 X 0 0 0 Robert J Darnall Life Trustee 1.00 X 0 0 0 William J Devers Jr Life Trustee 1.00 X 0 0 0 Jere D Fluno Life Trustee 1.00 X 0 0 0 David W Grainger Life Trustee 1.00 X 0 0 0 J Ira Harris Life Trustee 1.00 X 0 0 0 Richard M Jaffee 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 Fredrick A Krehbiel Life Trustee 1.00 X 0 0 0 Leon M Lederman PhD 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 Charles S Locke Life Trustee 1.00 X 0 0 0 Thomas L Martin Jr 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 John D Nichols Life Trustee 1.00 X 0 0 0 James J O'Connor Life Trustee 1.00 X 0 0 0 Wlliam A Osborn Life Trustee 1.00 X 0 0 0 Walter R Peirson 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 S Jay Stewart 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 Arnold R Weber PhD Life Trustee 1.00 X 0 0 0 William L Weiss Life Trustee 1.00 X 0 0 0 David R Mosena President/Trustee 35.00 X X 648458 0 21154 David J Vitale Treasurer/Trustee 1.00 X 0 0 0 Eileen M Cabrera Secretary/Assistant to President 35.00 X 97864 0 14055 Kurt E Haunfelner VP - Exhibits and Collections 35.00 X 260888 0 14907 Matthew C Simpson VP - Marketing/Public Relations 35.00 X 233044 0 27163 Yolanda Stephens VP - Human Resources 35.00 X 173771 0 21705 Andrea J Ingram VP - Education and Guest Services 35.00 X 231581 0 14787 Sheila M Cawley VP - External Affairs 35.00 X 257161 0 26811 Rose B Fealy VP - Finance & Administration/CFO 35.00 X 241468 0 13100 Mary Krinock Chief of Staff 35.00 X 173696 0 13240 Edward McDonald Director of Facilities 35.00 X 143288 0 17775 Anne Rashford Director of Temporary Exhibits 35.00 X 147231 0 12555 Bryan Wunar Director of Community Initiatives 35.00 X 128653 0 24014 Christopher Wilson Director of Exhibit Projects & Ops. 35.00 X 130049 0 20137 Nicole Kowrach Director of Teaching & Learning 35.00 X 138172 0 4390 3005324 0 245793 32 0 1 0 MediaOceanMBuy 120 S Riverside Plaza Suite 1900 Chicago IL 60606 Advertising 1956121 Ravenswood Studio Inc 6900 N Central Park Avenue Lincolnwood IL 60712 Specialized Designs 1872774 Midway Building Services 1915 W Hubbard Street Chicago IL 60622 Janitorial 1663463 AlliedBarton Security Services LLC PO Box 828854 Philadelphia PA 19182 Security 1359761 Berglund Construction Company 8410 S Chicago Avenue Chicago IL 60617 Construction 1356726 46 3648245 2387749 6918680 20330406 956128 33285080 General Admissions 900099 10023582 10023582 Special Exhibits 900099 2037016 2037016 Omnimax Theater 900099 1495970 1495970 U-505 Permanent Exhibits 900099 1495836 1495836 2920645 2920645 17973049 2574658 2574658 17612 17612 1172495 594963 577532 577532 577532 36041824 36926561 64517 -884737 -64517 -949254 -949254 102225 2387749 511414 -409189 -409189 3250 9800 -6550 -6550 986394 315227 671167 608590 62577 Parking and Other Guest Services 900099 2183003 2183003 Food Court 722514 1391486 1391486 Sponsorship Revenues 900099 295000 295000 2488414 1744521 743893 6357903 60092008 19711020 1930015 5165893 6700 6700 2484854 522164 1678718 283972 19872615 13794350 4047661 2030604 460830 279836 130194 50800 3268007 1895260 1031960 340787 1544238 937728 436280 170230 224570 224570 173917 173917 97473 97473 217242 217242 4548716 4060450 451357 36909 3051027 2630727 377831 42469 2046360 1302795 141365 602200 1881148 31327 835596 1014225 1660509 1660509 1185849 654055 205270 326524 398130 398130 13017952 13017952 334807 334807 Bank & Credit Card Fees 1235044 1235044 Program Development 614382 150765 153344 310273 Training/Recruitment 584748 304823 211088 68837 Exhibit Rental Expense 195000 195000 5286355 4343278 294878 648199 64390473 47247333 11217111 5926029 2373287 4123504 5960590 2611375 34843452 30839054 1210464 1576236 447700 389807 1008551 1358264 359498328 218428374 145936171 141069954 40420090 57124525 44542549 36213287 1572721 945488 278315575 276251494 5502290 5882294 1098053 1746663 61120000 58697684 1075000 0 4565360 4126502 73360703 70453143 X 148906756 148040398 35035224 31545673 21012892 26212280 204954872 205798351 278315575 276251494 X -4298465 4785784 222562 133598 X 0 1 X 1 1 1 X 20233420 16744534 20572431 47923500 27598744 133072629 5592178 5607427 5690148 5717121 5686336 28293210 25825598 22351961 26262579 53640621 33285080 161365839 16193039 145172800 2470874 2679136 3792389 2243107 2592270 13777776 4236692 3793450 3809840 4491024 5782062 22113068 197256683 94025635 0.73600 0.73690 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous Revenue - 2012 Amount: $ 38,580. 2013 Amount: $ 77,625. 2014 Amount: $ 383,074. 2015 Amount: $ 528,685. 2016 Amount: $ 1,715,032. Film Lease Revenue - 2016 Amount: $ 29,489. Film Product Revenue - 2012 Amount: $ 39,525. 2013 Amount: $ 11,350. 2014 Amount: $ 530. 2015 Amount: $ 2,200. 2016 Amount: $ 0. Food Court Revenue - 2012 Amount: $ 1,026,742. 2013 Amount: $ 924,689. 2014 Amount: $ 976,195. 2015 Amount: $ 1,440,473. 2016 Amount: $ 1,391,486. Parking and Other Services - 2012 Amount: $ 2,289,315. 2013 Amount: $ 2,373,924. 2014 Amount: $ 2,022,752. 2015 Amount: $ 2,130,556. 2016 Amount: $ 2,183,003. Sponsorship Revenue - 2012 Amount: $ 687,000. 2013 Amount: $ 225,000. 2014 Amount: $ 240,000. 2015 Amount: $ 249,035. 2016 Amount: $ 295,000. Fundraising Events Revenue - 2012 Amount: $ 116,713. 2013 Amount: $ 156,742. 2014 Amount: $ 129,441. 2015 Amount: $ 74,056. 2016 Amount: $ 102,225. Gaming Revenue - 2012 Amount: $ 8,750. 2013 Amount: $ 8,600. 2014 Amount: $ 5,950. 2015 Amount: $ 6,200. 2016 Amount: $ 3,250. Sales of Inventory - 2012 Amount: $ 30,067. 2013 Amount: $ 15,520. 2014 Amount: $ 51,898. 2015 Amount: $ 59,819. 2016 Amount: $ 62,577. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 76229 0 0 76229 0 Part II-B, Line 1b: Make direct contact with covered federal and state officials as it relates to the Museum's needs. Part II-B, Line 1g: Strategic counsel, government affairs and lobbying. X 0 10868470 7220229 1201831 407047 18883483 6500746 4995679 -293255 334700 10868470 6661559 5000 107782 273595 6500746 6071608 50000 746022 206071 6661559 5661624 640276 230292 6071608 0.94030 0.05970 0 0 170839713 89677247 81162466 16944095 12859411 4084684 171714520 115891716 55822804 141069954 Equity Funds 19302393 F Fixed Income Funds 15870874 F Corporate Bonds 1040020 F 36213287 Interest Rate Swap 810343 Pension Liability 359183 Asset Retirement Obligation 977773 Funds on Deposit 210124 Purchase Agreement 1769079 4126502 X 66103736 4785784 222562 1431404 6439750 59663986 217242 210780 428022 60092008 65387155 1431404 1431404 63955751 217242 217480 434722 64390473 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 unrestricted net assets in the year in which the items are acquired or as decreases in temporarily restricted net assets 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 to 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 that requires 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 if the position were to be challenged by a taxing authority. Management has determined 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 twelve months. The Museum has federal net operating loss carryforwards available to offset future unrelated business taxable income. The net operating loss carryforwards expire through 2035 and total approximately $4,200,000 and $4,400,000 at December 31, 2016 and 2015, respectively. As of December 31, 2016 and 2015, 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 $1,638,000 and $1,716,000 at December 31, 2016 and 2015, respectively. The Museum files Forms 990 in the U.S. federal jurisdiction and the State of Illinois. Tax years before 2013 are generally no longer subject to examination by the Internal Revenue Service. Part XI, Line 2d - Other Adjustments: Gaming Expenses 9,800. Rental Expenses 594,963. Cost of Goods Sold 315,227. Fundraising Expenses 511,414. Part XI, Line 4b - Other Adjustments: Change in Value of Interest Rate Swap -249,032. Recovery of Bad Debt 459,812. Part XII, Line 2d - Other Adjustments: Gaming Expenses 9,800. Rental Expenses 594,963. Cost of Goods Sold 315,227. Fundraising Expenses 511,414. Part XII, Line 4b - Other Adjustments: Change in Value of Interest Rate Swap -249,032. Recovery of Bad Debt 459,812. Donated Chromebooks 6,700. Black Creativity 521924 474299 47625 9800 105979 9000 64018 Columbian Ball 1968050 1913450 54600 36400 104621 24030 157566 2489974 2387749 102225 46200 210600 33030 221584 511414 -409189 1 Science Achievers - CASE Celebration 26 6700 FMV Chromebook laptops Part I, Line 2: Laptop computers are provided to high school students enrolled in the Museum's Science Achievers program. The students elected to receive the computers were graduating from high school and preparing to attend college. X X X X 0 0 0 0 0 0 0 1 0 David R Mosena President/Trustee 533742 0 100000 0 14716 0 7950 0 13204 0 669612 0 0 0 Kurt E Haunfelner VP - Exhibits and Collections 253876 0 7000 0 12 0 1572 0 13335 0 275795 0 0 0 Matthew C Simpson VP - Marketing/Public Relations 226032 0 7000 0 12 0 6968 0 20195 0 260207 0 0 0 Yolanda Stephens VP - Human Resources 173759 0 0 0 12 0 4823 0 16882 0 195476 0 0 0 Andrea J Ingram VP - Education and Guest Services 224569 0 7000 0 12 0 6243 0 8544 0 246368 0 0 0 Sheila M Cawley VP - External Affairs 250149 0 7000 0 12 0 6801 0 20010 0 283972 0 0 0 Rose B Fealy VP - Finance & Administration/CFO 234456 0 7000 0 12 0 4915 0 8185 0 254568 0 0 0 Mary Krinock Chief of Staff 166684 0 7000 0 12 0 5070 0 8170 0 186936 0 0 0 Edward McDonald Director of Facilities 143276 0 0 0 12 0 4487 0 13288 0 161063 0 0 0 Anne Rashford Director of Temporary Exhibits 144678 0 2541 0 12 0 4421 0 8134 0 159786 0 0 0 Bryan Wunar Director of Community Initiatives 128641 0 0 0 12 0 3876 0 20138 0 152667 0 0 0 Christopher Wilson Director of Exhibit Projects & Ops. 130037 0 0 0 12 0 0 0 20137 0 150186 0 0 0 Part I, Line 7 The compensation committee reviewed and approved variable compensation for certain employees due to outstanding performance. A IFA Series 2009A-D 851091967 45200FJ91 2009-12-17 64000000 Construction, Exhibits 0 0 0 A 4400000 64000000 62937702 429298 633000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 1 1 0 0 0 0 A 0 Part IV, Line 2c: Bond Counsel performed the rebate calculation for the period December 17, 2009 through December 17, 2014. Part V, Procedures to Undertake Corrective Action: The Museum has not violated any applicable requirements for tax exempt bonds benefiting the Museum. The Museum has not established written procedures to ensure timely identification of violations of federal tax requirements or timely correction of any identified violations, but the Museum will develop procedures in the near future. X 14 209191 FMV X Toymaker 64 627030 Cost/Selling Price X United Airline Tickets 177 76807 Cost/Selling Price X Columbian Ball Special Event Donations 14 36400 Cost/Selling Price X Chromebooks 26 6700 Cost/Selling Price 0 0 1 0 Part I, Column (b): is the number of contributions. 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. 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. Douglas C. Grissom and John A. Canning, Jr. have a business relationship outside of the Museum. Avis LaVelle, Jesse H. Ruiz and Juan Salgado have a business relationship outside of the Museum. Michelle L. Collins and Michael P. Krasny have a business relationship outside of the Museum. Kent P. Dauten and Larry D. Richman have a business relationship outside of the Museum. Kent P. Dauten and John A. Canning, Jr. have a business relationship outside of the Museum. J. Christopher Reyes, Michael W. Ferro, Jr., and Andrew J. McKenna serve on a board outside of the Museum. James A. Gray, David A. Fisher and William M. Goodyear serve on a board outside of the Museum. Matthew A. Maloney and David A. Fisher serve on a board outside of the Museum. David A. Fisher and Charles Bobrinsky serve on a board outside of the Museum. E. Scott Santi and Jay L. Henderson serve on a board outside of the Museum. Sheila A. Penrose, Richard H. Lenny, and Walter E. Massey serve on a board outside of the Museum. Edward M. Liddy, William A. Osborn and W. James Farrell serve on a board outside of the Museum. Jay L. Henderson and William L. Morrison serve on a board outside of the Museum. Michael W. Ferro, Jr., John A. Canning, Jr. and Michael J. Sacks serve on a board outside of the Museum. Betsy D. Holden and Dennis J. Fitzsimmons serve on a board outside of the Museum. Douglas C. Grissom, Kent P. Dauten and John A. Canning, Jr. serve on a board outside of the Museum. J. Christopher Reyes and Andrew J. McKenna serve on a board outside of the Museum. Michelle L. Collins and Gregory D. Wasson serve on a board outside of the Museum. Larry D. Richman and Michelle L. Collins serve on a board outside of the Museum. 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 Chairman 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 executive staff of the Museum. Individual performance is evaluated by established goals and objectives which support MSI's mission and priorities. These goals and objectives are reviewed annually as part of the Museum's performance management process. The process consists of: 1. The Compensation Committee meets annually at the end of Q1 to review and make decisions on all executive (CEO and VP's) 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 VP of HR 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 2015 Form 990 on its website and made copies of 2013, 2014, 2015 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 XI, line 9: Change in Value of Life Insurance Policy 21,629. Gain on Film Consortium Investment 51,205. Chromebooks Donation 6,700. Change in Value of Asset Retirement Obligation -53,461. Minimum Pension Liability 107,525.