2015-05-13T16:16:58-05:00 2014-06-30 042442519 EDELSTEIN AND COMPANY LLP 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2013-07-01 042103993 THE CHILDRENS MUSEUM CHIL 6174266500 308 CONGRESS STREET BOSTON MA 02210 AMY AUERBACH SVP & CFO 6174266500 2015-05-13 1 ALFONSO PERILLO P00950491 6172276161 2015-05-12 2013 2016-02-25 16:41:14Z BOSTON CHILDREN'S MUSEUM AMY AUERBACH 308 CONGRESS STREET BOSTON MA 02210 13038066 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. 26 26 153 763 -22288 -22288 2246408 3616390 4749218 4627054 735033 1790768 -3452 -33807 7727207 10000405 0 0 0 0 3304635 3188565 37450 50925 464669 6007378 5937580 9349463 9177070 -1622256 823335 62984600 63419709 18657548 18026348 44327052 45393361 X SEE SCHEDULE O - FORM 990 PART I LINE 1 0 0 3065742 3027106 VISITOR PROGRAMS OFFER INFORMAL AND FORMAL LEARNING EXPERIENCES FOR FAMILIES, SCHOOL, AFTER-SCHOOL AND COMMUNITY GROUPS. 2393028 52097 EDUCATION PROGRAMS INCLUDE SIGNIFICANT FOCUS ON PRE-SCHOOL, EARLY CHILDHOOD EDUCATION AND SCHOOL READINESS AS WELL AS "STEM" PROGRAMS FOR OLDER KIDS. 1745320 147034 EXHIBITS PROVIDE INNOVATIVE, HANDS-ON, EDUCATIONAL AND ENGAGING ACTIVITIES FOCUSED ON SCIENCE AND MATH, CULTURE, ENVIRONMENTAL AWARENESS, HEALTH AND THE ARTS. 271782 1400817 MEMBERSHIPS 271782 1400817 7475872 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 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 1 143 0 1 153 1 1 1 0 0 0 0 1 1 0 0 0 0 X 26 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X AMY AUERBACH 6174266500 308 CONGRESS STREET BOSTON MA 02210 DR MICHAEL W YOGMAN TRUSTEE, CHAIRMAN 3.80 X X 0 0 0 PATRICIA A PARCELLIN TRUSTEE, VICE CHAIR 1.80 X X 0 0 0 CHRISTOPHER C THOMPSON TRUSTEE, TREASURER 0.50 X X 0 0 0 LINDA K CARLISLE TRUSTEE, SECRETARY 0.50 X X 0 0 0 KAREN G BAROODY TRUSTEE 0.40 X 0 0 0 ROGER S BERKOWITZ TRUSTEE 0.40 X 0 0 0 ANTHONY BORDON TRUSTEE 0.40 X 0 0 0 JOSEPH CHOW TRUSTEE 0.40 X 0 0 0 NIRAV DAGLI TRUSTEE 0.50 X 0 0 0 MARK L DINAPOLI TRUSTEE 0.50 X 0 0 0 WENDY FISCHMAN TRUSTEE 0.40 X 0 0 0 DEBORAH JOELSON TRUSTEE 0.50 X 0 0 0 ROBIN G JONES TRUSTEE 0.40 X 0 0 0 MICHAEL B KEATING TRUSTEE 0.40 X 0 0 0 THOMAS MCCROREY TRUSTEE 0.40 X 0 0 0 YASMIN NAMINI TRUSTEE 0.40 X 0 0 0 BHASKER NATARAJAN TRUSTEE 0.40 X 0 0 0 ERICA G PAPPENDICK TRUSTEE 0.40 X 0 0 0 JANE POST TRUSTEE 0.40 X 0 0 0 JAMES ROONEY TRUSTEE 0.40 X 0 0 0 JILL SILVERSTEIN TRUSTEE 0.40 X 0 0 0 CHRISTOPHER YENS TRUSTEE 0.40 X 0 0 0 DAVID CRAWFORD TRUSTEE 0.40 X 0 0 0 MARY CULLINANE TRUSTEE 0.40 X 0 0 0 DR WING DELATORRE TRUSTEE 0.40 X 0 0 0 CYNTHIA FISH TRUSTEE 0.40 X 0 0 0 MADGE MEYER TRUSTEE 0.40 X 0 0 0 LIAM PATRICK TRUSTEE 0.40 X 0 0 0 CAROLE CHARNOW PRESIDENT/CEO 35.00 X 223102 0 9778 AMY AUERBACH SVP/CFO 35.00 X 126720 0 13389 BRENNA KELLY ASSISTANT SECRETARY 35.00 X 35889 0 279 GERALDINE ROBINSON VP EARLY CHILDHOOD 35.00 X 101626 0 9899 LESLIE SWARTZ SVP PROGRAMMING & RESEARCH 35.00 X 105025 0 12241 592362 0 45586 4 0 1 0 ACP CLEANING INC PO BOX 2411 WOBURN MA 01888 MUSEUM & TENANT CLEANING 587231 CB RICHARD ELLISNE PARTNERS 33 ARCH STREET 10TH FLOOR BOSTON MA 02110 PROPERTY MANAGEMENT 464070 SECURITAS SECURITY SERVICES US 77 SUMMER STREET 4TH FLOOR BOSTON MA 02110 MUSEUM & BUILDING SECURITY 262205 CUSTOM COMPUTER SPECIALISTS INC 70 SUFFOLK COURT HAUPPAUGE NY 11788 IT & NETWORK MONITORING SERVICES 195761 RAFANELLI EVENTS MANAGEMENT INC 867 BOYLSTON ST 4TH FLOOR BOSTON MA 02116 EVENT PLANNING 118595 6 967799 882643 1765948 73857 3616390 ADMISSIONS 900099 2798671 2798671 MEMBERSHIPS 900099 1400817 1400817 PROGRAM FEES 900099 297566 292693 4873 TRAVELING EXHIBITS 900099 130000 130000 4627054 215236 215236 2036439 2097531 -61092 -61092 -27161 -33931 2160114 584582 1575532 1575532 1575532 72450 967799 355548 -283098 -283098 ANCILLARY SERVICES 900099 310383 310383 310383 10000405 4932564 -22288 1473739 429303 321527 107776 2337558 1837806 316917 182835 36198 26010 6255 3933 193463 143735 21754 27974 192043 134394 40860 16789 17443 17443 38000 38000 50925 50925 333967 311397 20543 2027 824496 823125 1171 200 225023 126155 81982 16886 199777 9475 187277 3025 2051591 1776836 265823 8932 54196 37798 15439 959 9941 7831 1367 743 1908363 1768660 134909 4794 15652 6706 8946 MATERIALS AND SUPPLIES 164593 157298 4738 2557 BANK AND OTHER FEES 124663 117422 7091 150 EQUIPMENT RENTAL- REPAI 54971 41841 13130 PROFESSIONAL DEVELOPMEN 11094 2741 8353 -96190 146642 -276996 34164 9177070 7475872 1236529 464669 3993880 5123832 1672847 1405222 339538 226968 189718 78363 64011936 24783067 40814779 39228869 15422949 16820917 550889 535538 62984600 63419709 1336581 1187600 17000000 16500000 261607 271549 59360 67199 18657548 18026348 X 33449662 33736918 6787129 7536435 4090261 4120008 44327052 45393361 62984600 63419709 X 823335 241822 1152 X X 0 1 X 1 1 1 X 1975024 1952420 3659954 2246408 3616390 13450196 3918114 4335750 4637713 5044312 4932564 22868453 5893138 6288170 8297667 7290720 8548954 36318649 114203 290959 106535 211941 121174 844812 0 114203 290959 106535 211941 121174 844812 35473837 2051503 2194353 2083983 2074937 2251675 10656451 2051503 2194353 2083983 2074937 2251675 10656451 7944641 8482523 10381650 9365657 10800629 46975100 0.75520 0.76340 0.22690 0.21640 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 17216502 1389957 2030639 2079857 18557241 15563254 1059983 1800499 1207234 17216502 16323304 2296125 76659 3132834 15563254 16967657 820770 2426583 3891706 16323304 18690397 639174 1886241 4248155 16967657 0.37190 0.22200 0.40610 0 0 3331193 3331193 46114020 14469030 31644990 2522399 1487028 1035371 12044324 8827009 3217315 39228869 DERIVATIVE FINANCIAL INSTRUMENTS 67199 67199 X 12716757 241822 6457 14994 263273 12453484 -2453079 -2453079 10000405 11650448 6457 2466921 2473378 9177070 0 9177070 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) CAPITAL CAMPAIGN, 2) EXHIBITS 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 X, LINE 2: THE MUSEUM HAS EVALUATED THE TAX POSITIONS TAKEN ON RETURNS FOR OPEN YEARS AND THOSE EXPECTED TO BE TAKEN ON RETURNS FOR JUNE 30, 2014. IT IS MANAGEMENT'S BELIEF THAT SUCH TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. ACCORDINGLY, NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN REFLECTED IN THESE FINANCIAL STATEMENTS. RETURNS FOR TAX YEARS BEGINNING WITH THOSE FILED FOR JUNE 30, 2011 ARE OPEN TO EXAMINATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: BOOK-TAX RENTAL INCOME ADJUSTMENT PER IRC 467 22,833. UNREALIZED LOSS ON DERIVATIVE INSTRUMENTS -7,839. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES -2,097,531. DIRECT EXPENSES OF FUNDRAISING EVENTS -355,548. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 2,097,531. BAD DEBT FROM UNCOLLECTIBLE PLEDGES 13,842. DIRECT EXPENSES OF FUNDRAISING EVENTS 355,548. X X X X X X 1 CREATIVE DEVELOPMENT STRATEGIES 90 ELMWOOD ROAD WELLESLEY MA 02481 EVENT PLANNING & FUNDRAISING 0 0 0 50925 50925 MA CENTENNIAL GALA 1025074 952624 72450 92294 87740 15570 152683 PARENTING BREAKFAST 15175 15175 1768 3660 1833 1040249 967799 72450 94062 91400 15570 154516 355548 -283098 SCHEDULE G, PART I, LINE 2B, COLUMN (V) THE MUSEUM PAID THE PROFESSIONAL FUNDRAISERS TO HELP PLAN AND ORGANIZE THE CENTENNIAL CELEBRATION FOR THE MUSEUM'S 100TH ANNIVERSARY AND TO FUNDRAISE FOR THE CENTENNIAL CAMPAIGN. X X X X X 0 0 0 0 0 0 0 0 0 CAROLE CHARNOW PRESIDENT/CEO 223102 0 0 0 0 0 9000 0 778 0 232880 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 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- 10 YEARS 4D- NO 4E- NO 5- NO 5B,C,D- N/A 6- NO 7- NO X 16 73857 MARKET QUOTATIONS 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 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 RECEIVE 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 15A THE PROCESS FOR REVIEWING AND DETERMINING THE CEO'S COMPENSATION IS AS FOLLOWS: THERE IS AN AD HOC COMPENSATION COMMITTEE, WHICH IS A SUBSET OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES AND CONVENES TO REVIEW MARKET DATA FOR THIS POSITION. BASED ON THIS REVIEW, A COMPENSATION PACKAGE WAS AGREED UPON. THIS PROCESS WAS ADOPTED IN THE FALL OF 2008. 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 LOSS ON DERIVATIVE INSTRUMENTS -7,839. BOOK-TAX RENTAL INCOME ADJUSTMENT PER IRC 467 22,833. BAD DEBT FROM UNCOLLECTIBLE PLEDGES -13,842. 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.