2025-10-30T19:36:36-05:00 2024-12-31 273858252 DEAN DORTON ALLEN FORD PLLC 250 W MAIN STREET STE 1400 LEXINGTON KY 40507 990 2024-01-01 742519972 NATIONAL CORVETTE MUSEUM FOUNDATION INC NATI 2707817973 350 CORVETTE DRIVE BOWLING GREEN KY 42101 BRYCE BURKLOW PRESIDENT & CEO 2707817973 2025-10-27 1 0 ALLISON C CARTER P01242412 8592552341 2024 2025-03-06 01:10:19Z BRYCE BURKLOW 350 CORVETTE DRIVE BOWLING GREEN KY 42101 24876959 0 X WWW.CORVETTEMUSEUM.ORG X 1988 NM THE MISSION OF THE NATIONAL CORVETTE MUSEUM FOUNDATION IS TO EDUCATE WORLDWIDE AUDIENCES ON THE EVOLUTION OF THE CORVETTE AMERICA'S SPORTS CAR THROUGH COLLECTION, PRESERVATION, AND CELEBRATION OF ITS LEGACY. 18 18 259 465 1105343 137457 2283170 1776340 7860411 7073824 865893 2582907 7165578 8045481 18175052 19478552 0 0 0 0 6930239 7450911 0 0 198281 8558821 9541494 15489060 16992405 2685992 2486147 86891540 83414796 11266639 4252488 75624901 79162308 X THE MISSION OF THE NATIONAL CORVETTE MUSEUM FOUNDATION IS TO EDUCATE WORLDWIDE AUDIENCES ON THE EVOLUTION OF THE CORVETTE AMERICA'S SPORTS CAR THROUGH COLLECTION, PRESERVATION, AND CELEBRATION OF ITS LEGACY. 0 0 9076986 9108150 TOURS AND EXHIBITS: THE NATIONAL CORVETTE MUSEUM FOUNDATION PROVIDED EDUCATIONAL TOURS TO 217,000 GUESTS IN 2024, INCLUDING MORE THAN 5,200 STUDENTS WHO PARTICIPATED IN A SCHOOL OR EDUCATIONAL VISIT. TOUR HIGHLIGHTS INCLUDE THE MCMICHAEL FAMILY EDUCATION GALLERY, WHICH PROVIDES HANDS-ON INSPIRATION FOR FUTURE DESIGNERS AND ENGINEERS. THE DRIVEN BY DESIGN EXHIBITION INCLUDES ORAL HISTORIES ON THE DESIGN AND DEVELOPMENT OF CORVETTE ALONGSIDE DESIGN PROTOTYPES THAT EDUCATE AND EXPLAIN THE DESIGN PROCESS, FROM SKETCH TO PRODUCTION CORVETTE. 371006 579159 SPECIAL EVENTS PROGRAMS: 6,437 PEOPLE PARTICIPATED IN THE SPECIAL EVENTS PROGRAMS IN 2024. THIS INCLUDED EDUCATIONAL SEMINARS, PANEL DISCUSSIONS AND PRESENTATIONS FROM ENGINEERS, DESIGNERS AND OTHER EXPERTS IN THEIR FIELDS. THIS PROGRAM USES A SIGNIFICANT NUMBER OF VOLUNTEERS ALSO TO ASSIST IN RUNNING THE ACTIVITIES AND SEMINARS. 954859 1686529 DELIVERY: THE DELIVERY PROGRAM BRINGS NEW CORVETTE OWNERS TO THE MUSEUM SO THAT THEY CAN LEARN ABOUT THE HISTORY OF THE CORVETTE, AND LEARN ABOUT THE PROPER OPERATION OF THEIR VEHICLE. THEY ARE GIVEN A TOUR OF THE CORVETTE ASSEMBLY PLANT (WHEN AVAILABLE) TO EDUCATE THEM ON THE MANUFACTURING PROCESS AND ALSO GIVEN A HANDS-ON DEMONSTRATION OF THE FEATURES OF THE CORVETTE. THOSE INVOLVED IN THE DELIVERY PROGRAM INCLUDE THE STAFF WHO PREPARE THE CAR (PDI) AND THE STAFF WHO PROVIDE THE TOURS AND DEMONSTRATIONS. PLANT TOURS: HELPS FURTHER THE MISSION OF THE MUSEUM TO EDUCATE WORLD-WIDE AUDIENCES ABOUT THE CORVETTE AND HOW IT IS PRODUCED.DRIVEN BY DESIGN, THE MUSEUM'S DESIGN AND ENGINEERING EXHIBITION ILLUSTRATES HOW AUTOMOBILE DESIGN PROGRESSES FROM SKETCHES TO CLAY MODELS, WITH A SCALE CLAY MODEL CORVETTE ON DISPLAY AS AN EXAMPLE OF THE EARLY DESIGN PROCESS. ONE EXHIBIT HIGHLIGHTS THE FEMALE INTERIOR DESIGN TEAM OF THE LATE 1950S, NICKNAMED THE "DAMSELS OF DESIGN." SINCE OPENING IN 2016, THE SINKHOLE EXPERIENCE EXHIBITION HAS DOCUMENTED THE 2014 SINKHOLE COLLAPSE INSIDE THE MUSEUMWHY IT HAPPENED, HOW THE BURIED CARS WERE RECOVERED, HOW THE BUILDING WAS REPAIRED, AND WHAT KARST AND CAVE LANDFORMS ARE.STINGRAY GRILL/CORVETTE STORE: THE STINGRAY GRILL OFFERS LUNCH OPTIONS FOR THE CONVENIENCE OF MUSEUM GUESTS, AND CATERING OPTIONS FOR EVENTS AT THE MUSEUM, SCHOOL GROUP VISITS AND COMMUNITY EVENTS. THE CORVETTE STORE OFFERS A WIDE SELECTION OF UNIQUE GIFTS AND APPAREL THAT TELL THE CORVETTE STORY, WHILE CORVETTE ACCESSORIES ALLOW VISITORS TO CUSTOMIZE THEIR CORVETTE. MUSEUM MARKETING AND COMMUNICATION EFFORTS INCLUDE AMERICA'S SPORTS CAR MAGAZINE, A QUARTERLY PUBLICATION MAILED TO 25,000 HOUSEHOLDS, CLUBS AND BUSINESSES THAT EDUCATES READERS ON EVENTS AT THE NATIONAL CORVETTE MUSEUM AND CORVETTE HISTORY, INCLUDING ARTICLES ON SPECIFIC EXHIBITS TO INFORM THOSE THAT CANNOT PHYSICALLY COME TO THE MUSEUM. MUSEUM CHANNELS ON FACEBOOK, X, LINKEDIN, TIKTOK, INSTAGRAM, AND YOUTUBE HIGHLIGHT THE HISTORY OF THE CORVETTE WHILE ALSO BRINGING ATTENTION TO OUR MISSION AND EDUCATIONAL PROGRAMS, ALONG WITH DIGITAL ADVERTISING AIMED AT REACHING THE NEXT GENERATION OF GUESTS. EMAIL MARKETING INCLUDES CORVETTE CAMPUS CONNECTION, A MONTHLY EMAIL DISTRIBUTED TO MORE THAN 120,000 SUBSCRIBERS, WHICH HIGHLIGHTS PROGRAMS AT THE MUSEUM FOR THOSE UNABLE TO VISIT IN PERSON. THE MUSEUM WEBSITE PROVIDES HISTORICAL INFORMATION AND DETAILED STORIES ABOUT THE CORVETTE AND THE PERSONALITIES WHO HAVE SHAPED ITS 72-YEAR HISTORY. LIBRARY & ARCHIVES RESOURCE CENTER: THE RESOURCE CENTER IS THE REPOSITORY FOR ALL MATERIALS DOCUMENTING THE PAST, PRESENT AND FUTURE OF CORVETTE, CORVETTE ENTHUSIASTS AND THE CORVETTE MUSEUM. THE MATERIAL MANAGED AND PRESERVED INCLUDES AUDIO AND VISUAL MEDIA - BOTH DIGITAL (DVDS) AND MAGNETIC (VHS AND BETA TAPES), PERIODICALS, BOOKS, DRAWINGS, PAINTINGS, POSTERS, MEMORABILIA AND DOCUMENTS INCLUDING SOME IMPORTANT HISTORICAL MEMORABILIA PLUS BUILD SHEETS. MOST MATERIALS HAVE BEEN DONATED TO THE NATIONAL CORVETTE MUSEUM FROM INDIVIDUAL ENTHUSIASTS, PUBLISHING COMPANIES, PRINT MEDIA, AFTERMARKET SUPPLIERS, CLUBS AND ORGANIZATIONS SUCH AS NCRS, AND FROM GM/CHEVROLET.OTHER NATIONAL CORVETTE MUSEUM PROGRAM SERVICES INCLUDE EDUCATIONAL INSTRUCTION, SUCH AS MULTIPLE STEAM WORKSHOPS FOR STUDENTS, FIELD TRIPS, COMMUNITY SCHOOL OUTREACH AND RELATIONSHIP BUILDING. EDUCATIONAL PROGRAMMING ALSO EXTENDS VIRTUALLY THROUGH CORVETTEMUSEUM.ORG, FEATURING HIGH-PROFILE STORYTELLING WITH NATIONAL CORVETTE MUSEUM MEMBERS, INCLUSION IN THE MUSEUM'S QUARTERLY MAGAZINE, AMERICA'S SPORTS CAR, AND PARTICIPATION IN CAR SHOWS ACROSS THE COUNTRY.THE GATEWAY GALLERY TELLS THE STORY OF THE CORVETTE'S CREATION, EXPLORING THE INFLUENCE OF EUROPEAN SPORTS CARS IMPORTED BY WWII VETERANS, SMALL AMERICAN MANUFACTURERS BUILDING LOW-PRODUCTION SPORTS CARS, AND THE DEVELOPMENT OF THE CORVETTE NAME. THE EXHIBITION HIGHLIGHTS HARLEY EARL'S ROLE AT GENERAL MOTORS IN BRINGING THESE ELEMENTS TOGETHER TO CREATE THE CORVETTE, AMERICA'S SPORTS CAR. 10402851 1 1 0 0 0 0 0 1 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 37 24 1 259 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 KY X THE NATIONAL CORVETTE MUSEUM FOUNDATION INC 2707774517 350 CORVETTE DRIVE BOWLING GREEN KY 42101 KAI SPANDE IMMEDIATE PAST CHAIR 2.00 X 0 0 0 KAYE WAGNER CHAIR 2.00 X 0 0 0 MICHAEL LAROCCA CHAIR-ELECT 2.00 X 0 0 0 NEIL WATANABE TREASURER 2.00 X 0 0 0 DALE LEDBETTER SECRETARY 2.00 X 0 0 0 GLENN JOHNSON DIRECTOR 2.00 X 0 0 0 HARLAN CHARLES DIRECTOR 2.00 X 0 0 0 CHUCK FAST DIRECTOR 2.00 X 0 0 0 VITO CIMILLUCA DIRECTOR 2.00 X 0 0 0 SHANNON LAMARCHE DIRECTOR 2.00 X 0 0 0 DEB MURPHY DIRECTOR 2.00 X 0 0 0 NORM ROSE DIRECTOR 2.00 X 0 0 0 SHANNON SKOKOS DIRECTOR 2.00 X 0 0 0 MIKE BUCHANON DIRECTOR 2.00 X 0 0 0 DAN COSTELLOW DIRECTOR 2.00 X 0 0 0 TIM MCMICHAEL DIRECTOR 2.00 X 0 0 0 MARK STIELOW DIRECTOR 2.00 X 0 0 0 SHARON BRAWNER CEO/PRESIDENT (PARTIAL YEAR) 40.00 10.00 X 326640 0 3216 BRIAN HUNLEY DIRECTOR OF FINANCE (PARTIAL YEAR) 40.00 10.00 X 97026 0 8361 AMANDA THOMAS DIRECTOR OF HR & BUSINESS 40.00 10.00 X 172472 0 14699 BRYCE BURKLOW INTERIM COO 40.00 10.00 X 168637 0 14431 WILLIAM MARCUM DIRECTOR OF FINANCE (PARTIAL YEAR) 40.00 10.00 X 13106 0 0 ROBERT MAXHIMER DIRECTOR OF CURATORIAL AFFAIRS AND EDUCATION 40.00 10.00 X 111130 0 8097 CHRIS HUFFMAN IT OPERATIONS MANAGER 40.00 10.00 X 130559 0 12534 STEPHEN LOPE ACCOUNTING MANAGER 40.00 10.00 X 103144 0 9708 CHASTITY WILLIS-DAULEY FINANCIAL PLANNING & ANALYSIS MANAGER 40.00 10.00 X 117058 0 11858 RYAN EICHLER DIRECTOR OF MARKETING & COMMUNICATIONS 40.00 10.00 X 137349 0 12857 1377121 0 95761 10 0 1 0 SUNBELT CONSTRUCTION INC 1034 SEARCY WAY BOWLING GREEN KY 42103 CONSTRUCTION 765080 MEDIAONE NORTH AMERICA LLC 1000 PARKWOOD CIR SE SUITE 900 ATLANTA GA 30339 ADVERTISING 351600 INSIGHT ADVERTISING PO BOX 982196 PARK CITY UT 84098 ADVERTISING 142502 RUSSELL REYNOLDS ASSOCIATES 277 PARK AVENUE SUITE 3800 NEW YORK NY 10172 EMPLOYEE SEARCH FIRM 130280 DEAN DORTON 250 W MAIN ST STE 1400 LEXINGTON KY 40507 ACCOUNTING SERVICES 125311 8 960606 815734 5964 1776340 TOURS & ADMISSIONS 711210 4732926 4732926 DELIVERY PROGRAM 611710 1686529 1686529 SPECIAL EVENTS PROGRAMS 611710 579159 579159 AMERICA'S SPORTS CAR PUBLICATION 611710 70500 48300 22200 LIBRARY & ARCHIVES RESOURCE CENTE 611710 4710 4710 7073824 2708484 2708484 1689223 56629 1632594 1632594 705696 926898 125577 -125577 -125577 -125577 3773190 2059964 1713226 1713226 7375796 3156237 4219559 4219559 MGMT SERVICES - MOTORSPORTS PARK 900099 377447 377447 OTHER REVENUE 900099 102655 102655 480102 19478552 11373838 1105343 5223031 818589 513169 297939 7481 5362832 3269816 2043837 49179 169056 133639 35417 605377 418716 183592 3069 495057 402464 88239 4354 46425 46425 60084 60084 650999 97389 553610 963051 914710 48341 625767 508460 60202 57105 595400 493862 101538 231266 231266 2637942 1215566 1422376 INCOME TAX EXPENSE 14323 14323 MISCELLANOUS 1049211 311095 686375 51741 FEES AND LICENSES 877520 533361 344159 CAR TRANSPORTATION 575732 458245 114242 3245 1213774 1132359 59308 22107 16992405 10402851 6391273 198281 2581446 2443749 229199 1064794 509875 689776 417654 306442 71028843 23875590 47799695 47153253 26055100 22464932 9298571 9291850 86891540 83414796 1637708 991294 639530 447694 6751780 383627 2237621 2429873 11266639 4252488 X 74427635 77699630 1197266 1462678 75624901 79162308 86891540 83414796 X 2486147 926418 124842 X X 0 1 X 1 0 X 3128483 3230575 6301294 2283170 1776340 16719862 6604914 7942909 8905659 11478147 11373838 46305467 4420620 4474820 4947390 4158405 3773190 21774425 14154017 15648304 20154343 17919722 16923368 84799754 179645 246015 177993 248157 92659 944469 0 179645 246015 177993 248157 92659 944469 83855285 334106 429230 561967 1951406 3692011 6968720 334106 429230 561967 1951406 3692011 6968720 59732 132541 113287 386034 137457 829051 218097 214774 1313655 102655 1849181 14765952 16424849 22143252 20257162 20855491 94446706 0.88790 0.90730 0.07380 0.04200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 14258406 14258406 31021942 12758004 18263938 5175232 2779456 2395776 3270237 1694597 1575640 17303026 6643533 10659493 47153253 DEPOSITS 5611 INVESTMENT IN MOTORSPORTS PARK 8571304 OPERATING LEASE RIGHT-OF-USE ASSETS, NET AMORTIZATION 714935 9291850 DEFERRED TAX LIABILITY 340656 DUE TO MSP 1750998 DEBT FINANCING COSTS 338219 2429873 X PART X, LINE 2: THE MUSEUM IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SIMILAR PROVISION OF STATE LAW. HOWEVER, THE MUSEUM IS SUBJECT TO FEDERAL INCOME TAX ON ANY UNRELATED BUSINESS TAXABLE INCOME, WHICH PRIMARILY INCLUDES INCOME FROM THE RENT AND ADMINISTRATIVE SERVICES PROVIDED TO MSP AND NCMI. TAXES INCURRED AS A RESULT OF UNRELATED BUSINESS INCOME (UBI) ACTIVITIES ARE ACCOUNTED FOR IN ACCORDANCE WITH INCOME TAX ACCOUNTING GUIDANCE, ASC 740, INCOME TAXES. THE MUSEUM FILES TAX RETURNS IN U.S. FEDERAL JURISDICTION. THE MUSEUM DETERMINES DEFERRED INCOME TAXES USING THE LIABILITY OR BALANCE SHEET METHOD. UNDER THIS METHOD, THE NET DEFERRED TAX ASSET OR LIABILITY IS BASED ON THE TAX EFFECTS OF THE DIFFERENCES BETWEEN THE BOOK AND TAX BASES OF ASSETS AND LIABILITIES AND ENACTED CHANGES IN TAX RATES AND LAWS ARE RECOGNIZED IN THE PERIOD IN WHICH THEY OCCUR. DEFERRED INCOME TAX EXPENSE OR BENEFIT RESULTS FROM CHANGES IN DEFERRED TAX ASSETS AND LIABILITIES BETWEEN PERIODS. DEFERRED TAX ASSETS ARE REDUCED BY A VALUATION ALLOWANCE IF, BASED ON THE WEIGHT OF EVIDENCE AVAILABLE, IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF A DEFERRED TAX ASSET WILL NOT BE REALIZED. MSP ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH ASC 740, INCOME TAXES. THE INCOME TAX ACCOUNTING GUIDANCE RESULTS IN TWO COMPONENTS OF INCOME TAX EXPENSE: CURRENT AND DEFERRED. CURRENT INCOME TAX EXPENSE REFLECTS TAXES TO BE PAID OR REFUNDED FOR THE CURRENT PERIOD BY APPLYING THE PROVISIONS OF THE ENACTED TAX LAW TO THE TAXABLE INCOME OR EXCESS OF DEDUCTIONS OVER REVENUES. TAX POSITIONS ARE RECOGNIZED IF IT IS MORE LIKELY THAN NOT, BASED ON THE TECHNICAL MERITS, THAT THE TAX POSITION WILL BE REALIZED OR SUSTAINED UPON EXAMINATION. THE TERM MORE LIKELY THAN NOT MEANS A LIKELIHOOD OF MORE THAN 50% THE TERMS EXAMINED AND UPON EXAMINATION ALSO INCLUDE RESOLUTION OF THE RELATED APPEALS OR LITIGATION PROCESSES, IF ANY. A TAX POSITION THAT MEETS THE MORE-LIKELY-THAN NOT RECOGNITION THRESHOLD IS INITIALLY AND SUBSEQUENTLY MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON SETTLEMENT WITH A TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE DETERMINATION OF WHETHER OR NOT A TAX POSITION HAS MET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD CONSIDERS THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE REPORTING DATE AND IS SUBJECT TO MANAGEMENT'S JUDGMENT. SCHEDULE D, PART III, LINE 1 IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY MUSEUMS, SEVERAL AUTOMOBILES, STYLING MULES, POWER PLANTS AND CORVETTE DOCUMENTS DONATED TO THE MUSEUM ARE NOT INCLUDED IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. THE MAJORITY OF THE AUTOMOBILES ON DISPLAY AND IN STORAGE AT THE MUSEUM ARE ON LOAN FROM CORVETTE ENTHUSIASTS AND ARE NOT INCLUDED AS PART OF THE MUSEUM COLLECTION. MANAGEMENT BELIEVES THE MUSEUM HAS THE RESOURCES AND TECHNOLOGY TO APPROPRIATELY MAINTAIN THESE ARTIFACTS. SCHEDULE D, PART III, LINE 4 THE MUSEUM'S COLLECTION INCLUDES VEHICLES, CLAY MODELS, HISTORICAL MEMORABILIA, MAGAZINES, PERIODICALS, VIDEOS, SKETCHES, DOCUMENTS, BUILD SHEETS, AND MANY OTHER ITEMS THAT DOCUMENT AND PRESERVE THE HISTORY OF THE CORVETTE. MANY OF THESE ITEMS ARE AVAILABLE FOR VIEWING, FOR RESEARCH AND FOR EDUCATIONAL PURPOSES. 3773190 2059964 1 0.90000 3773190 2059964 2059964 1713226 KY 1 0 1 0 1.00000 MANDI THOMAS 350 CORVETTE DR BOWLING GREEN KY 42101 0 MANDI THOMAS OVERSEES GAMING VOLUNTEERS AND ENSURES COMPLIANCE X 0 1713226 X 1 1 X X X X 1 0 0 0 0 1 0 0 0 SHARON BRAWNER CEO/PRESIDENT (PARTIAL YEAR) 26257 0 0 0 300383 0 1385 0 1831 0 329856 0 0 0 AMANDA THOMAS DIRECTOR OF HR & BUSINESS 145019 0 27453 0 0 0 8708 0 5991 0 187171 0 0 0 BRYCE BURKLOW INTERIM COO 150905 0 17732 0 0 0 8450 0 5981 0 183068 0 0 0 RYAN EICHLER DIRECTOR OF MARKETING & COMMUNICATIO 123637 0 13712 0 0 0 6868 0 5989 0 150206 0 0 0 PART I, LINE 1A THE CEO'S SPOUSE OCCASIONALLY TRAVELS ON BUSINESS TRIPS TO ASSIST BY PROVIDING VOLUNTEER SERVICES AT EVENTS. PART I, LINE 3 A THREE-PERSON COMMITTEE WITHIN THE NCM FOUNDATION BOARD OF DIRECTORS OPERATES AS THE COMPENSATION COMMITTEE FOR THE CEO. THE CEO AND NCM HUMAN RESOURCES DEPARTMENT EVALUATE COMPENSATION FOR MUSEUM STAFF. A THIRD-PARTY CONSULTING HR FIRM IS USED TO CONDUCT A COMPENSATION STUDY EVERY THREE YEARS AND PAY GRADES ARE ASSIGNED TO EACH POSITION AT THE MUSEUM. THE THIRD-PARTY HR CONSULTING FIRM BENCHMARKS COMPENSATION TO OTHER ORGANIZATIONS OF SIMILAR INDUSTRY, SIZE, REVENUE, AND LOCATION. THE CEO AND NCM HUMAN RESOURCES DEPARTMENT DETERMINE INDIVIDUAL STAFF COMPENSATION BASED ON PAY GRADES, DUTIES, PERFORMANCE, AND EXPERIENCE. PART I, LINE 4A SHARON BRAWNER RECEIVED $300,383 AS SEVERANCE AND ACCRUED VACATION PAY. PART I, LINE 6 THE CEO RECEIVES AN ANNUAL BONUS BASED ON ACHIEVEMENT OF KEY PERFORMANCE INDICATORS DETERMINED BY THE NCM FOUNDATION BOARD OF DIRECTORS AS WELL AS BY ADJUSTED EBITDA FOR THE APPROVED BUDGET. OFFICERS AND EMPLOYEES ALSO RECEIVE AN ANNUAL BONUS BASED ON ADJUSTED EBITDA FOR THE APPROVED BUDGET. THE BONUS CALCULATION FOR THE CEO IS VERIFIED AND APPROVED BY THE COMPENSATION COMMITTEE, AN INDEPENDENT BODY. X 6 SEE PART II X 7 SEE PART II X 388 SEE PART II X FLOWERS 1 5614 FAIR MARKET VALUE X TICKETS 1 350 FAIR MARKET VALUE X CAR PARTS 4 0 SEE PART II 4 0 1 0 PART I, LINE 33: THERE WERE NOT ANY NONCASH CONTRIBUTIONS REPORTED ON FORM 990, PART VIII, STATEMENT OF REVENUE, LINE 1G, BECAUSE THE MUSEUM DID NOT CAPITALIZE ITS COLLECTIONS, AS ALLOWED UNDER SFAS 116. ONLY SUPPLY TYPE DONATIONS THAT WERE PUT INTO USE ARE RECOGNIZED IN REVENUES AS NONCASH CONTRIBUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE FULL FORM 990 AND ALL REQUIRED SCHEDULES WERE EMAILED TO THE FULL BOARD OF DIRECTORS PRIOR TO BEING FILED. THE FULL BOARD REVIEWED IT AND PROVIDED FEEDBACK IF SO DESIRED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST FORMS ARE COMPLETED ANNUALLY BY ALL BOARD MEMBERS AND THE FULL BOARD APPROVES TRANSACTIONS AS NECESSARY. THOSE WITH A CONFLICT ARE EXCLUDED FROM THE DISCUSSION AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 A THREE-PERSON COMMITTEE OF THE BOARD OPERATES AS THE COMPENSATION COMMITTEE FOR THE MUSEUM. THEY EVALUATE THE COMPENSATION COMPARATIVES OF OTHER MUSEUMS AND NON PROFITS, AND REVIEW COMPENSATION BENCHMARK INFORMATION TO DETERMINE A REASONABLE COMPENSATION BASED ON DUTIES AND PERFORMANCE. EXECUTIVE MANAGEMENT REVIEWS COMPARABLE SALARY DATA ANNUALLY AND APPROVES AN ANNUAL INCREASE. FORM 990, PART VI, SECTION C, LINE 19 THE MUSEUM'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE PROVIDED TO ANYONE UPON REQUEST. FINANCIAL INFORMATION IS ALSO SHARED ANNUALLY AT THE MUSEUM'S OPEN MEMBERSHIP MEETINGS IN APRIL AND SEPTEMBER OF EACH YEAR. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF SWAP 124,842. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. SCHEDULE R, PART I NCM MOTORSPORTS PARK, LLC AND NCM INSURANCE AGENCY, LLC ARE BOTH SINGLE MEMBER LIMITED LIABILITY COMPANIES OF WHOLLY OWNED C-CORPORATION NCM HOLDINGS, LLC. BOTH ENTITIES ARE DISREGARDED FOR INCOME TAX PURPOSES. THE SHARE OF INCOME AND ASSETS OF EACH LLC IS EQUAL TO THE SHARE OF INCOME AND ASSETS OF NCM HOLDINGS, LLC. NCM MOTORSPORTS PARK LLC 350 CORVETTE DRIVE BOWLING GREEN KY 42101 471462434 MOTORSPORTS KY 6323396 4096289 NCM HOLDINGS LLC NCM INSURANCE AGENCY LLC 350 CORVETTE DRIVE BOWLING GREEN KY 42101 843242616 INSURANCE NV 3676158 3483064 NCM HOLDINGS LLC NCM HOLDINGS LLC 350 CORVETTE DRIVE BOWLING GREEN KY 42101 854095023 MOTORSPORTS KY NCM C 9999554 7579353 1.00000 1 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 NCM HOLDINGS LLC L 377477 FMV NCM HOLDINGS LLC A 705696 FMV NCM HOLDINGS LLC D 1750998 FMV