2016-11-11T14:31:03-06:00 2015-12-31 GRANT THORNTON LLP 2001 MARKET STREET SUITE 700 PHILADELPHIA PA 19103 990 2015-01-01 231370501 Franklin Institute % K SIOBHAN KEEFE FRAN 2154481200 222 North 20th Street Philadelphia PA 19103 LARRY DUBINSKI PRESIDENT & CEO 2154481200 2016-11-11 true Alycia Mecchella P01272637 2155614200 2015 2017-02-10 21:41:12Z Larry Dubinski 222 North 20th Street Philadelphia PA 19103 108273198 false 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. 43 42 521 1779 497667 151090 17807535 5912180 20990122 25674691 1957635 7116671 946268 1085343 41701560 39788885 250000 250000 0 0 14783530 16157916 15131 51163 2108618 18908629 20277055 33957290 36736134 7744270 3052751 159972701 154930241 24974365 24259440 134998336 130670801 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. false false 6456013 5774061 EDUCATIONAL PROGRAMS, SERVICES & GRANTS Completing its 22nd year in 2015, the Partners for Achieving Careers in Technology and Science (PACTS) program is one of the regions oldest and most comprehensive science immersion programs for diverse urban high school students. PACTS serves 150 students from more than 40 Philadelphia public schools. 2015 was the sixth year for the Institutes STEM Scholars programs, a concentrated program of 15 students each year who show high interest in and aptitude for STEM fields. These students receive STEM education and mentoring throughout their high school years; in 2015 the program continued to run at capacity, serving 60 students total. 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 attracting more than 1,000 participants. These two programs deliver unique STEM programming to a diverse audience. As the organizer of the Philadelphia Science Festival, The Franklin Institute helped more than 200 partners to reach more than 75,000 people in neighborhoods across the city with hands-on workshops and demonstrations in its fifth year in 2015. Featuring a Carnival at Penns landing that was attended by 175 exhibitors and more than 50,000 people, the Festival also held dozens of stargazing events in city neighborhoods and offered a diverse range of public programming about science and technology for both adults and child audiences. One particular success was a dozen Discovery Days, gatherings of nonprofit, corporate, and academic partners in neighborhoods across the city and the surrounding suburbs, who worked together to educate and inspire residents about various aspects of science and discovery. The Institute also works closely with the Science Leadership Academy (SLA), a magnet high school that stands as a further testament to the Institutes commitment to formal education. An inquiry-based, science and technology-focused school founded in 2006 through a unique collaborative between The Franklin Institute and the School District of Philadelphia, SLA quickly earned a national reputation for excellence. Its students are consistently among the top performers on state standardized tests, exceeding the city and state averages in every subject. It has a 98% graduation rate as compared to the 64% graduation rate of the rest of the school district. The Institute looks forward to continuing this unique partnership with the school district to provide formative opportunities for SLAs students, who come from more than 60 different middle schools. The Franklin Institute also develops model programs in science learning for the K12 education community that are delivered both inside and outside the museum walls, including in 52 branches of the Free Library of Philadelphia. 17246682 17957553 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 educational and cultural resource, and as an anchor of the local economy. In 2015, the Institute welcomed 888,084 visitors to the museum, including 156,136 children who came as part of school groups, representing every county in Pennsylvania and surrounding states including New Jersey, Delaware, and New York. The Franklin Institutes 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 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, especially those for underserved youth and families such as Community Night, and the Student Access Program that welcomes students from under-resourced schools, free of charge. In 2015, the Institute hosted Body Worlds: Animal Inside Out, where visitors embarked on an anatomical safari to explore the intricate biology, zoology, and physiology of the worlds most spectacular creatures both large and small; Sesame Street Presents: The Body, where visitors learned all about their body from the inside out featuring Sesame Street characters and interactives that covered everything from how the body works during different modes of transportation to germs. The Institutes blockbuster show Art of the Brick, which showcased artistic creations built from LEGO bricks welcomed 336,000 visitors; and Vatican Splendors: Life and Faith in Ancient Time, displayed priceless works of art on loan from the Vatican Museum in Rome, many of which had never before left Italy, and offered visitors special science programming on art conservation and preservation. Timed to coincide with the historic visit of Pope Francis, Vatican Splendors welcomed diverse audiences from across the city and around the world to the Institute to experience a piece of the Vatican right here in Philadelphia. The three Institute theaters: the Fels Planetarium, the Franklin 3D Theater, and the Tuttleman IMAX, opened new worlds to hundreds of thousands of visitors. The frequently updated schedule of IMAX documentary programming in 2015 included Forces of Nature, Titans of the Ice Age, Journey to Space, Born to be Wild, Humpback Whales, and Great White Shark. The Institutes Franklin Theater provided museum guests with engaging and educational 3D films throughout the day, including Mysteries of the Unseen World, Kenya, Watermelon Magic, Walking with Dinosaurs: Prehistoric Planet, and The Last Reef amongst its 2015 offerings. The Institutes historic Fels Planetarium continued to offer out-of-this-world shows including the first Franklin Institute-produced full-dome planetarium show, To Space and Back, along with Wildest Weather in the Solar System, The Sky Tonight, and Dark Universe. During the 2015 calendar year, 1,779 people volunteered their time at the Institute, equivalent to 41 full time positions. From working at the Brain Bar on the floor to staffing the Philadelphia Science Festival to working behind the scenes to catalog items in the archives, the Institutes volunteers provide valuable assistance-literally. The total value of volunteer and intern time donated to the Institute in 2015 equals more than $1.8 million. The Franklin Institute welcomed 75 college interns from schools across the state in 2015, who contributed over 10,000 hours out of their busy schedules. In addition to lending the Institute their skills, they learned on-the-job lessons that will help them in the tough market, and gained experience as museum educators. Another group of volunteers are the retired scientists, engineers, and inventors who work on the floor explaining the exhibits and demonstrations to visitors. Still other volunteers work with students in the Partnerships for Achieving Careers in Technology and Science (PACTS) program, teaching them how to build robots, design buildings, and become who they want to be. Other volunteers include the members of the Committee on Science and the Arts, who help to select the Franklin Awards laureates each year, and the many members of the community who serve on boards such as the Friends Committee, the Awards Committee, and the Board of Trustees. 1324393 250000 1628151 FRANKLIN INSTITUTE AWARDS & OTHER PROJECTS For nearly two centuries The Franklin Institute Awards Program has recognized outstanding achievements in science and technology, celebrated the pursuit of excellence, and provided dynamic connections between the Institute and the academic, scientific, and business communities. On April 23, the sold-out Franklin Institute Awards Ceremony and Dinner was the culmination of a full week of inspiring events. Awards Week, which began the Monday before the Awards Ceremony and Dinner, included a series of public symposia and lectures that provided opportunities for the internationally distinguished laureates to share their discoveries, experiences, and views with public audiences. Other Awards Week activities included Laureates Laboratory, a session at the Institute in which the laureates participated in interactive demonstrations of their work geared toward visiting students; and the Meet the Scientists program, which was moderated by students from the PACTS program. One highlight of the 2015 Awards Ceremony and Dinner was the conferring of the 2015 Bower Business Award to Jon M. Huntsman, Sr. He received this award for his innovative leadership in founding the Huntsman Corporation and building it into one of the world's preeminent chemical companies; and for his global leadership in philanthropy, with a special focus on cancer research and treatment in support of some of the highest-impact developments towards curing cancer. The 2015 Bower Award for Achievement in Science and its accompanying $250,000 prize was conferred to Jean-Pierre Kruth, Ph.D. For his pioneering research in additive manufacturing (3D printing), which led to many technological innovations and several global companies. His work has inspired further research, enabled the creation of many patents, and built the foundation for others businesses. Eight other scientists, each of whom represents the pinnacle of revolutionary achievement in their respective fields, received awards, including Dr. Steven Lippard (chemistry), Dr. Syukuro Manabe (earth and environmental science), Dr. Roger Harrington (electrical engineering), Dr. Elissa Newport (computer and cognitive science), Dr. Cornelia Bargmann (life science), and Dr. Charles Kane, Dr. Eugene Mele, and Dr. Shoucheng Zhang (all physics). 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 190 years of the Journal are available online through libraries and research institutions. A key part of the visitor experience at The Franklin Institute is science programming. During the year the Institute offered five different experiential packages for grades 312. The packages combined an exhibit with related theater and workshop programs, and were designed to support National Science Education Standards. The Institutes website continues to serve as a popular source of complementary information for educators and the general public alike; nearly 3 million people visited the website in 2015. More than 137,000 students and adults from Connecticut to Northern Virginia were inspired by traveling science shows presented in hundreds of locations. The Institute has long been a leader in providing professional development offerings for teachers throughout the region. While teachers may only have one opportunity to bring their students to the museum each year, The Franklin Institutes wealth of educator resources and workshops enables teachers to bring the spark for hands-on science interaction into their daily lessons. The Institutes professional development programs build teachers confidence, and help them to align classroom education with nationally mandated standards and with inquiry-based learning activities. Extracurricular activities for youth filled weekends and vacations. Discovery Camp, Spring Break Camp, and the Schools Closed Camp welcomed thousands of youngsters, and the weekend overnight Camp-In program drew nearly 7,000 young people. 584952 Interest 5075262 Depreciation 314924 Theaters UBI 5660214 314924 30687302 true true false true false false false true false true true true false false false true true false false false true false true true true false false false false true true false false false false false false false false false false true false false false false false false false false true 153 0 true 521 true true true false false false false true true false false false false X 43 42 true false false false false false false true true false false true true true true true true true true true true CA CT FL MD MA NJ NY PA X K SIOBHAN KEEFE 2154481200 222 NORTH 20TH STREET Philadelphia PA 19103 Larry Dubinski President & CEO 37.5 0.0 X X 456125 0 45159 Donald E Morel Jr PhD Chair 1.0 0.0 X X 0 0 0 Sandra K Baldino Trustee 1.0 0.0 X 0 0 0 Michael F Barry Trustee 1.0 0.0 X 0 0 0 Joel A Bernstein Trustee 1.0 0.0 X 0 0 0 Wade H Berrettini MD PhD Trustee 1.0 0.0 X 0 0 0 Suzanne Boda Trustee 1.0 0.0 X 0 0 0 Renee B Booth PhD Trustee 1.0 0.0 X 0 0 0 Donald E Callaghan Trustee 1.0 0.0 X 0 0 0 Michael F Camardo Trustee 1.0 0.0 X 0 0 0 Troy Carter Trustee 1.0 0.0 X 0 0 0 Robert Chappelear Trustee (Term End 2015) 1.0 0.0 X 0 0 0 Peter K Classen Trustee 1.0 0.0 X 0 0 0 Annie Duke Trustee 1.0 0.0 X 0 0 0 Stephen J Felice Trustee (Term End 2015) 1.0 0.0 X 0 0 0 Michael C Forman Trustee 1.0 0.0 X 0 0 0 John T Fries Trustee 1.0 0.0 X 0 0 0 Christopher Gali Trustee 1.0 0.0 X 0 0 0 Toni Garrison Trustee 1.0 0.0 X 0 0 0 Elizabeth H Gemmill Trustee 1.0 0.0 X 0 0 0 Richard J Green Trustee 1.0 0.0 X 0 0 0 Grete Greenacre Trustee 1.0 0.0 X 0 0 0 Richard A Greenawalt Trustee 1.0 0.0 X 0 0 0 Paul C Heintz Esq Trustee (Term End 2015) 1.0 0.0 X 0 0 0 Frances E Jensen MD FACP Trustee 1.0 0.0 X 0 0 0 Nooruddin Karsan Trustee (Term End 2015) 1.0 0.0 X 0 0 0 Stephen E Kelly Trustee 1.0 0.0 X 0 0 0 Charisse R Lillie Esq Trustee 1.0 0.0 X 0 0 0 Ira M Lubert Trustee 1.0 0.0 X 0 0 0 Thomas Lynch Trustee 1.0 0.0 X 0 0 0 James J Maguire Jr Trustee 1.0 0.0 X 0 0 0 Miriam G Mandell Trustee 1.0 0.0 X 0 0 0 Sandra G Marshall Trustee 1.0 0.0 X 0 0 0 Christopher McIsaac Trustee 1.0 0.0 X 0 0 0 Robert S McMenamin Trustee 1.0 0.0 X 0 0 0 Denis P O'Brien Trustee 1.0 0.0 X 0 0 0 Paul Offit MD Trustee 1.0 0.0 X 0 0 0 Jane Palmieri Trustee 1.0 0.0 X 0 0 0 Marvin Samson Trustee 1.0 0.0 X 0 0 0 Michael A Sanchez Trustee (Term End 2015) 1.0 0.0 X 0 0 0 William Sigmund Trustee 1.0 0.0 X 0 0 0 Joan N Stern Esq Trustee 1.0 0.0 X 0 0 0 James G Stewart Trustee 1.0 0.0 X 0 0 0 I Steven Udvarhelyi MD Trustee (Term End 2015) 1.0 0.0 X 0 0 0 Richard W Vague Trustee 1.0 0.0 X 0 0 0 Tina Wells Trustee 1.0 0.0 X 0 0 0 David R White Trustee (Term End 2015) 1.0 0.0 X 0 0 0 Paul H Woodruff PE Trustee 1.0 0.0 X 0 0 0 Harold L Yoh III Trustee 1.0 0.0 X 0 0 0 Karen Zimmer MD Trustee 1.0 0.0 X 0 0 0 The Honorable Darrell L Clarke Trustee, Ex Officio 1.0 0.0 X 0 0 0 Pam Green Trustee, Ex Officio (end 2015) 1.0 0.0 X 0 0 0 William R Hite Trustee, Ex Officio 1.0 0.0 X 0 0 0 Margaret Hughes Trustee, Ex Officio (end 2015) 1.0 0.0 X 0 0 0 The Honorable Michael Nutter Trustee, Ex Officio 1.0 0.0 X 0 0 0 Mollie Lawrence Trustee, Ex Officio 1.0 0.0 X 0 0 0 Dennis O'Brien Trustee, Ex Officio 1.0 0.0 X 0 0 0 Nancy Ronning Trustee, Ex Officio 1.0 0.0 X 0 0 0 Michelle W Singer Trustee, Ex Officio 1.0 0.0 X 0 0 0 Gerard F Jones Trustee, Ex Officio 1.0 0.0 X 0 0 0 The Honorable Tom Wolf Trustee, Ex Officio 1.0 0.0 X 0 0 0 Marsha R Perelman Trustee, Emeritus 1.0 0.0 X 0 0 0 William J Avery Trustee, Emeritus 1.0 0.0 X 0 0 0 James A Unruh Trustee, Emeritus 1.0 0.0 X 0 0 0 K Siobhan Keefe VP of Finance & Treasurer 37.5 0.0 X 161668 0 17623 Julie Appolloni VP of Strategic Initiatives 37.5 0.0 X 156235 0 9394 Frederic M N Bertley Phd SVP for Science 37.5 0.0 X 223680 0 31675 Troy Collins SVP - Earned Rev., Mrktg & Ops 37.5 0.0 X 246097 0 29135 RICHARD D RABENA VP Ops & Capital Projects 37.5 0.0 X 179420 0 30150 REID O STYLES VP Human Resources 37.5 0.0 X 175236 0 19859 Kara Callahan Director of Marketing 37.5 0.0 X 119089 0 13396 Karen Elinich Dir. -Science Content & Learn. 37.5 0.0 X 121689 0 13872 Kathryn Giorgianni AVP -I/T Services 37.5 0.0 X 141752 0 27017 Susan Poulton Chief Digital Officer 37.5 0.0 X 132618 0 5309 Lois Switken Director of Sales and Catering 37.5 0.0 X 122867 0 12496 Dennis Wint PHD Former President & CEO 1.0 0.0 X 409842 0 0 2646318 0 255085 19 true true false Harmelin Media 525 Righters Ferry Road BALA CYNWYD PA 19004 Media Consultation 1720867 Art Guild Inc 300 Wolf Drive WEST DEPTFORD NJ 08086 Creative Design/Fab. 1285144 Skanska USA 518 East Township Line Road Suite BLUE BELL PA 19422 Bldg Construction 776037 ABM Janitorial Lockbox 787401 PHILADELPHIA PA 19178 Janitorial 734030 Frog Commissary Catering 222 North 20th Street PHILADELPHIA PA 19103 Catering/Food Serv. 594282 24 132833 573943 65000 5140404 601999 5912180 MUSEUM ADMISSIONS 900099 11050321 11050321 ANCILLARY ACTIVITIES 900099 4370200 3878655 491545 GRANTS 900099 3598628 3598628 MEMBERSHIPS 900099 2851958 2851958 EDUCATIONAL PROGRAMS & SERVICES 611710 2175433 2169311 6122 1628151 1628151 25674691 628215 628215 0 428757 428757 0 0 0 74703635 68215179 6488456 6488456 6488456 177368 573943 269134 -91766 -91766 0 748352 748352 748352 0 39788885 25925376 497667 7453662 0 0 250000 250000 0 2191295 1214797 660484 316014 0 10297498 8503298 767179 1027021 697282 542866 79616 74800 2051123 1031203 914932 104988 920718 716821 105128 98769 0 766210 766210 64950 64950 0 51163 51163 0 1296776 1133504 162970 302 1630396 1624972 5424 936267 696651 70516 169100 223883 222797 101 985 551733 551625 108 2655451 2651283 1051 3117 620634 555565 27993 37076 0 56491 43504 5060 7927 585038 585038 0 5075262 5075262 394682 336894 57788 PROGRAM AND EXHIBIT SUPPLIES, 3039129 3038244 885 GRANT SUBCONTRACT EXPENSES 845630 845630 EVENT EXPENSES 416955 410027 6928 CULTIVATION & FULFILLMENT 319522 172726 2701 144095 798046 484595 240298 73153 36736134 30687302 3940214 2108618 0 0 8631089 5570037 4977127 3900193 1491298 4203009 0 0 0 0 0 0 15571 14667 1425700 913904 168976438 81214208 88865561 87762230 38156270 36991412 15841574 15160230 451579 307869 0 0 116932 106690 159972701 154930241 8435191 7702526 0 0 784174 3278914 15755000 13278000 0 0 0 0 0 0 0 0 0 0 24974365 24259440 X 84401990 84374811 32327547 28731642 18268799 17564348 134998336 130670801 159972701 154930241 X 3052751 -7853115 -17000 489829 X false true X true true true X 11452312 10813204 15267620 17807535 5912180 61252851 0 0 11452312 10813204 15267620 17807535 5912180 61252851 13997792 47255059 1335424 1209233 1121728 1077399 1056972 5800756 0 0 67053607 104867742 0.70474 0.71440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36736134 36736134 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 X X false 38156270 145456 269566 1579880 36991412 38104799 1565619 1514148 38156270 33798367 1164210 4610933 1468711 38104799 31319598 164210 3716123 1401564 33798367 34065273 -1290611 1455064 31319598 0.27000 0.07000 0.66000 true false 12000000 12000000 88698347 31599431 57098916 7569649 5344053 2225596 60708442 44270724 16437718 87762230 BEN. INT. IN PERP TRUSTS 15124877 F BEN. INT. IN CHAR. GIFT ANNUIT 35353 F 15160230 0 0 X 32777975 -7853115 62000 780205 -7010910 39788885 39788885 37105510 79000 290376 369376 36736134 36736134 Collections of Art, historical treasures or similar other assets Schedule D, Part III, Line 1a Collection assets of the Institute have not been capitalized nor recognized. Collection items are held as historical treasures and are under the stewardship of the Institute acting through its President and Senior Curator. Schedule D, 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. Endowment Funds 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. FIN 48 (ASC 740) Footnote Schedule D, Part X, Line 2 The Institute has been granted exemption from federal income tax under Section 501(C)(3) of the Internal Revenue Code (the "Code"), and has been classified as an organization, which is not a private foundation under Section 509(a) of the Code. Certain unrelated business income is subject to federal income taxes. Management has reviewed the tax positions for each of the open tax years (2012 - 2014) or those expected to be taken in the Institute's 2015 tax return and has concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Reconciliation of Revenue with AFS Schedule D, Part XI, Line 2d Fundraising Event Direct Expenses $269,134 Net Unrealized Gain on Interest Rate Swap 207,037 Net Actuarial Gain on Defined Benefit Retirement Plan 304,034 ---------- Total $780,205 ========== Reconciliation of Expense with AFS Schedule D, Part XII, Line 2d Fundraising Event Direct Expenses $269,134 Items Capitalized in Subsequent Year 21,242 -------- Total $290,376 ======== true Middle East and North Africa 0 7 Program Services Egypt STEM School 422126 South America 0 4 Program Services STEM exchang Program 16834 Europe (Including Iceland and Greenland) 0 Grantmaking 250000 0 11 0 11 688960 688960 BOWER AWARD CASH PRIZE TO LAUREATE Europe (Including Iceland and Greenland) 1 250000 Check false false false false false false Procedures for monitoring the use of grant funds outside the U.S. 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 FUNDS IS NOT REQUIRED OR APPROPRIATE. Grants Under 5,000 The Franklin Institute makes de Minimis scholarship and participant support/honoraria payments to individuals throughout its normal course of business. None of these payments exceed $5,000. Payments for scholarships are made to the student's schools directly rather than to the individual, thereby ensuring proper use of scholarship funds. The Franklin Institute does not issue grants to individuals or organizations. X X X X X X X true Mae Daniller Co 3724 Jefferson Suite 302 Austin TX 78731 Mailings false 91190 95328 -4138 91190 95328 -4138 AZ CA CT FL MD MA NJ NY PA WA Franklin Awards 751311 573943 177368 142099 127035 0 751311 573943 177368 142099 127035 269134 -91766 X true true X X X true false false false false false false true false Larry Dubinski President & CEO 342875 0 102974 0 10276 0 17327 0 27832 0 501284 0 0 0 K Siobhan Keefe VP of Finance & Treasurer 150957 0 10000 0 711 0 9119 0 8504 0 179291 0 0 0 Julie Appolloni VP of Strategic Initiatives 143554 0 12500 0 181 0 8557 0 837 0 165629 0 0 0 Frederic M N Bertley Phd SVP for Science 183104 0 39794 0 782 0 10777 0 20898 0 255355 0 0 0 Troy Collins SVP - Earned Rev., Mrktg & Ops 207281 0 38011 0 805 0 12437 0 16698 0 275232 0 0 0 RICHARD D RABENA VP Ops & Capital Projects 158966 0 18933 0 1521 0 10295 0 19855 0 209570 0 0 0 REID O STYLES VP Human Resources 154046 0 17898 0 3292 0 9736 0 10123 0 195095 0 0 0 Kathryn Giorgianni AVP -I/T Services 140027 0 0 0 1725 0 9103 0 17914 0 168769 0 0 0 Dennis Wint PHD Former President & CEO 0 0 35000 0 374842 0 0 0 0 0 409842 0 0 0 Health & Social Club Dues Schedule J, Part I, Line 1a During 2015, The Franklin Institute provided membership in the Union League of Philadelphia for the President and CEO. The membership is principally for business purposes. Sevarance Payments Schedule J, Part I, Line 4 The Franklin Institute paid severance in the amount of $374,842 to former President and CEO Dennis Wint in 2015. Non-Fixed Payments Schedule J, 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 false false false B Philadelphia Authority for Industrial Development 232237287 2013-09-30 11000000 Funding for capital projects false false false A 1715000 0 14265843 0 0 0 206552 5358 0 0 14058055 0 1990 false true true true B 10102000 0 11000000 0 0 0 0 0 0 4491358 0 0 2014 false false true true A false false false false 0 false false false true B false false false false 0 false false false true A true true true Bank of America 20. false false false 0 false true B false true true false 0 false 0 false true A true B true PART II LINE 3 COLUMN A TOTAL PROCEEDS OF ISSUE: ISSUE PRICE PLUS INVESTMENT EARNINGS X 11 601999 Market Value false true true Third Party Assistance of Noncash Contributions Schedule M, Part I, Line 32b With one exception in 2015, the Franklin Institute utilizes a broker to immediately sell any gifts of securities upon receipt of the gift. The one exception in 2015 was made for various stocks received on February 19, 2015 for a perpetual trust, in which corpus receipts by the perpetual trust is required to be held in perpetuity based on the perpetual trust agreement. BUSINESS OR FAMILY RELATIONSHIPS FORM 990, PART VI, SECTION A, LINE 2 Renee B. Booth, PhD has a business relationship with The Franklin Institute. Michael F. Camardo has a business relationship with Harold L. Yoh III. Michael C. Forman has a business relationship with Richard W. Vague, Richard J. Green and Ira M. Lubert. John T. Fries has a business relationship with Ira M. Lubert. Charisse R. Lillie, Esq. has a business relationship with Michelle W. Singer. FORM 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 IRS Form 990 is prepared and reviewed by the accounting firm of Grant Thornton. A draft is then sent to the Institute to review and ask any questions, as well as answer any comments or questions. The audit committee of the board of trustees then reviews the draft of the 990 and approves the Form 990 prior to the form being filed with the IRS. A complete copy of the Form 990 is provided to the board prior to filing with the IRS. CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT 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 Vice President of Finance reviews the completed annual conflict of interest questionnaires and provides a summary for review by the audit committee. PROCESS USED TO DETERMINE EXECUTIVE COMPENSATION FORM 990, PART VI, SECTION B, LINE 15A and 15B 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 The Hay Group using published compensation surveys for both Not-For-Profit and For-Profit organizations comparable in size to The Franklin Institute. The Compensation Committee develops recommendation for the President and CEO's compensation and refers its recommendations to the Executive Committee of The Board of Trustees for approval. 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. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC 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, conflicts of interest policy and financial statements are made available upon request. Other Changes in Net Assets & Fund Balances Form 990, Part XI, Line 5 Net Unrealized Gain on Interest Rate Swap $207,037 Net Actuarial Gain on Defined Benefit Retirement Plan 304,034 Items Capitalized in Subsequent Year (21,242) ---------- Total $489,829 ==========