2015-08-13T07:42:26-05:00 2014-12-31 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2014-01-01 362167797 Museum of Science and Industry MUSE 7735849844 5700 S Lake Shore Drive Chicago IL 606372093 Rose Fealy VP Finance & Admin/CFO 7735849844 2015-08-12 1 Zack Fortsch P00052725 3126343400 2014 2016-02-25 16:41:14Z David Mosena 5700 S Lake Shore Drive Chicago IL 606372093 60058546 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. 114 111 444 535 1458785 -182295 22351961 26262579 18706623 20203532 2942718 3694001 4540706 4611280 48542008 54771392 8000 8250 0 0 25611635 24950342 44784 5001 4172314 35904204 34655892 61568623 59619485 -13026615 -4848093 268037474 262854342 73466138 74835916 194571336 188018426 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, the Museum reaches thousands of students and teachers through special programs, learning labs and educator workshops. 0 0 23757865 9614316 Museum and Operations, which include program support 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. 6050221 5421973 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; 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 that 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; and The Great Train Story, a dynamic model display that illustrates modern rail operation. 6138527 8250 914829 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. 2528451 4632177 Ancillary Services represent various guest services that enhance the guest experience. These include the Omnimax theater, museum store, food services, and parking services. 2528451 4632177 38475064 1 1 0 1 0 0 0 1 0 1 1 0 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 1 1 0 0 0 0 0 0 0 0 1 144 0 1 444 1 1 1 0 0 0 0 1 1 0 0 0 0 X 114 111 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 OH WI X X Katherine Garant 7739473748 5700 S Lake Shore Drive Chicago IL 606372093 John A Canning Jr 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 Kent P Dauten Vice Chairman/Trustee 1.00 X 0 0 0 Michael W Ferro Jr Vice Chairman/Trustee 1.00 X 0 0 0 Jay L Henderson 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 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 Martin Cabrera Jr 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 Deborah L DeHaas Trustee 1.00 X 0 0 0 William J Devers Jr Trustee 1.00 X 0 0 0 David E Donovan Trustee 1.00 X 0 0 0 Kenneth K Dort Trustee 1.00 X 0 0 0 James J Drury III Trustee 1.00 X 0 0 0 Adrienne Elsner Trustee 1.00 X 0 0 0 W James Farrell Trustee 1.00 X 0 0 0 Dennis J FitzSimons Trustee 1.00 X 0 0 0 Jeffrey T Foland Trustee 1.00 X 0 0 0 James J Fuentes Trustee 1.00 X 0 0 0 Mark Furlong-Thru Apr 2014 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 Gordon 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 Roberto R Herencia Trustee 1.00 X 0 0 0 Betsy D Holden Trustee 1.00 X 0 0 0 Edward L Kaplan Trustee 1.00 X 0 0 0 John P Keller Trustee 1.00 X 0 0 0 Michael P Krasny Trustee 1.00 X 0 0 0 Frederick A Krehbiel 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 Richard H Lenny 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 Robert A Livingston 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 Robert S Morrison Trustee 1.00 X 0 0 0 William L Morrison Trustee 1.00 X 0 0 0 Robert S Murley Trustee 1.00 X 0 0 0 Terry E Newman Trustee 1.00 X 0 0 0 William A Osborn 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 Matthias E Rebellius-Thru Dec 2014 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 Desiree 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 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 Rouhy J Shalabi-Thru Jan 2014 Trustee 1.00 X 0 0 0 James A Skinner 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 Robert J Sperling-Thru Jun 2014 Trustee 1.00 X 0 0 0 Byron O Spruell Trustee 1.00 X 0 0 0 Michael Tang Trustee 1.00 X 0 0 0 Mark Thierer Trustee 1.00 X 0 0 0 Cedric Thurman-Thru Jun 2014 Trustee 1.00 X 0 0 0 Elizabeth M Thompson Trustee 1.00 X 0 0 0 Arthur R Velasquez 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 David F Zucker Trustee 1.00 X 0 0 0 Neal S Zucker Trustee 1.00 X 0 0 0 Michael J Birck Life 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 Stanton R Cook 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 James C Dowdle-Thru Feb 2014 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 Leon M Lederman PhD 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 John D Nichols Life Trustee 1.00 X 0 0 0 James J O'Connor 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 S Jay Stewart Life Trustee 1.00 X 0 0 0 Eugene A Tracy 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 493607 0 20599 David J Vitale Treasurer/Trustee 1.00 X 0 0 0 Eileen M Cabrera Secretary/Trustee/Asst. to President 35.00 X 89029 0 13191 Kurt Haunfelner VP - Exhibits and Collections 35.00 X 238304 0 12715 Robert J Gallas Jr VP - Marketing/Public Relations 35.00 X 213909 0 4982 Andrea Ingram VP - Education and Guest Services 35.00 X 214759 0 14247 Sheila Cawley VP - External Affairs 35.00 X 230506 0 26261 Allyson Laackman VP - Finance & Administration 35.00 X 223924 0 26578 Stacey Kraft VP - Human Resources 35.00 X 194884 0 3897 Mary Krinock Chief of Staff 35.00 X 142663 0 12287 Katherine Garant Director of Finance/Controller 35.00 X 155948 0 24374 Duncan Harris Gen. Counsel & Dir. of Retail Ops. 35.00 X 182579 0 5789 Edward McDonald Director of Facilities 35.00 X 133114 0 16723 Anne Rashford Director of Temporary Exhibits 35.00 X 137762 0 12086 Bryan Wunar Director of Community Initiatives 35.00 X 124222 0 23557 2775210 0 217286 31 0 1 0 Hoffman York Connect 142 E Ontario Street Suite 13 Chicago IL 60611 Advertising 1977504 Midway Building Services 1915 W Hubbard Street Chicago IL 60622 Janitorial 1524659 AlliedBarton Security Services LLC PO Box 828854 Philadelphia PA 19182 Security 1187559 Sodexo America LLC 9801 Washingtonian Boulevard Gaithersburg MA 20878 Catering 869018 41 North Contractors LLC 4906 Main Street Ste 102 Lisle IL 60532 Construction 556752 10 2435873 2451325 7206532 14168849 1821128 26262579 General Admissions 900099 9614316 9614316 Special Exhibits 900099 2260256 2260256 Membership Fees 900099 1825776 1825776 Omnimax Theater 900099 1504995 1504995 U-505 Permanent Exhibits 900099 1327670 1327670 3670519 3670519 20203532 3790540 3790540 1849 1849 998638 730549 268089 268089 268089 3360981 118350 3575870 0 -214889 118350 -96539 -96539 129441 2451325 631819 -502378 -502378 5950 27375 -21425 -21425 857340 321541 535799 483901 51898 Parking and Other Guest Services 900099 2022752 2022752 Food Court 722514 976195 976195 Sponsorship Revenues 900099 240000 240000 1090399 401188 706795 -17584 4329346 54771392 20583295 1458785 6466733 8250 8250 1809894 453063 1126325 230506 18169952 11567434 4636526 1965992 231447 139090 66747 25610 3355677 1647448 1336916 371313 1383372 691675 538624 153073 374297 358297 16000 175682 175682 169231 169231 6000 6000 5001 5001 153441 153441 3500804 2320600 979956 200248 3228928 94606 3102776 31546 1774883 871926 392558 510399 380526 48216 303255 29055 1702199 1333192 369007 351181 246514 71228 33439 852922 77897 775025 15148498 15148498 337367 337367 Bank & Credit Card Fees 1270656 1270656 Program Development 627813 306358 47105 274350 Training/Recruitment 519405 241768 224508 53129 Exhibit Rental Expense 484098 484098 3597961 2436134 895174 266653 59619485 38475064 16972107 4172314 2945809 4943946 30813857 2775267 13346283 16150813 1117229 1660458 414120 398219 720892 651844 356236126 204301660 158373860 151934466 45081711 70009302 13317607 12646871 1906106 1683156 268037474 262854342 4140414 5183425 1771354 969828 62000000 62000000 3350000 3155000 2204370 3527663 73466138 74835916 X 164785375 158876068 24250961 23602358 5535000 5540000 194571336 188018426 268037474 262854342 X -4848093 -1724624 19807 X 0 1 X 1 1 1 X 32691579 24941604 25825598 22351961 26262579 132073321 32691579 24941604 25825598 22351961 26262579 132073321 132073321 2405226 2115097 2470874 2679136 3792389 13462722 3768020 4216928 4206625 3777930 3374868 19344371 164880414 91346331 0.80100 0.69490 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous Revenue - 2010 Amount: $ 50,383. 2011 Amount: $ 59,877. 2012 Amount: $ 38,580. 2013 Amount: $ 77,625. Film Product Revenue - 2010 Amount: $ 1,381. 2011 Amount: $ 47,250. 2012 Amount: $ 39,525. 2013 Amount: $ 11,350. 2014 Amount: $ 530. Food Court Revenue - 2010 Amount: $ 969,048. 2011 Amount: $ 1,067,548. 2012 Amount: $ 1,026,742. 2013 Amount: $ 924,689. 2014 Amount: $ 976,195. Parking and Other Services - 2010 Amount: $ 2,078,575. 2011 Amount: $ 2,494,694. 2012 Amount: $ 2,289,315. 2013 Amount: $ 2,373,924. 2014 Amount: $ 2,022,752. Sponsorship Revenues - 2010 Amount: $ 451,000. 2011 Amount: $ 430,000. 2012 Amount: $ 687,000. 2013 Amount: $ 225,000. 2014 Amount: $ 240,000. Fundraising Revenues - 2010 Amount: $ 174,224. 2011 Amount: $ 108,459. 2012 Amount: $ 116,713. 2013 Amount: $ 156,742. 2014 Amount: $ 129,441. Gaming Revenues - 2010 Amount: $ 43,409. 2011 Amount: $ 9,100. 2012 Amount: $ 8,750. 2013 Amount: $ 8,600. 2014 Amount: $ 5,950. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 58248 0 0 58248 0 Part II-B, Line 1: 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. Part II-B: Fletcher, O'Brian, Kasper & Nottage, PC provides the Museum of Science and Industry with lobbying services. X 0 6661559 5000 107783 273595 6500747 6071608 50000 746022 206071 6661559 5661624 640276 230292 6071608 5845132 -298249 208884 5337999 5514447 599415 268730 5845132 0.85220 0.14780 0 0 130873975 57826262 73047713 14471644 8770543 5701101 210890507 137704855 73185652 151934466 Interest Rate Swap 1107366 Pension Liability 781926 Asset Retirement Obligation 991128 Other Liabilities 647243 3527663 X 53617844 -1724624 1950 1906737 184063 53433781 261222 1076389 1337611 54771392 60170754 1950 1886930 1888880 58281874 261222 1076389 1337611 59619485 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 a temporarily or permanently restricted net asset if the assets used to purchase the items are restricted by donors. Contributed collection items are not reflected in the financial statements. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. 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 catalogued, preserved and cared for, and activities verifying the items' existence and assessing their condition are performed continuously. 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. Additionally, no provision for income taxes is reflected in these financial statements as the Museum's unrelated business taxable income was offset by unrelated business loss carryovers in prior years. 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 files forms 990 in the U.S. federal jurisdiction and the State of Illinois. Tax years before 2011 are generally no longer subject to examination by the Internal Revenue Service. Part XI, Line 2d - Other Adjustments: Gaming Expenses 27,375. Rental Expenses 730,549. Insurance Policy 19,807. Cost of Goods Sold 321,541. Fundraising Expenses 631,819. Recovery of Bad Debt 175,646. Part XI, Line 4b - Other Adjustments: Change in Value of Interest Rate Swap 277,767. Minimum Pension Liability 376,262. Change in Value of Asset Retirement Obligation 422,360. Part XII, Line 2d - Other Adjustments: Fundraising Expenses 631,819. Rental Expenses 730,549. Cost of Goods Sold 321,541. Gaming Expenses 27,375. Recovery of Bad Debt 175,646. Part XII, Line 4b - Other Adjustments: Change in Value of Interest Rate Swap 277,767. Minimum Pension Liability 376,262. Change in Value of Asset Retirement Obligation 422,360. Black Creativity 567890 494715 73175 4548 144097 11258 44321 Columbian Ball 2012876 1956610 56266 106441 94608 22150 204396 2580766 2451325 129441 110989 238705 33408 248717 631819 -502378 1 Science Achievers - CASE Celebration 30 8250 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 1 0 0 0 0 0 0 1 0 David R Mosena President/Trustee 485183 0 0 0 8424 0 7800 0 12799 0 514206 0 0 0 Kurt Haunfelner VP - Exhibits and Collections 236694 0 0 0 1610 0 0 0 12715 0 251019 0 0 0 Robert J Gallas Jr VP - Marketing/Public Relations 188334 0 0 0 25575 0 4674 0 308 0 218891 0 0 0 Andrea Ingram VP - Education and Guest Services 213544 0 0 0 1215 0 5868 0 8379 0 229006 0 0 0 Sheila Cawley VP - External Affairs 229959 0 0 0 547 0 6574 0 19687 0 256767 0 0 0 Allyson Laackman VP - Finance & Administration 223204 0 0 0 720 0 6900 0 19678 0 250502 0 0 0 Stacey Kraft VP - Human Resources 194591 0 0 0 293 0 3600 0 297 0 198781 0 0 0 Mary Krinock Chief of Staff 142663 0 0 0 0 0 4350 0 7937 0 154950 0 0 0 Katherine Garant Director of Finance/Controller 153284 0 1130 0 1534 0 4797 0 19577 0 180322 0 0 0 Duncan Harris Gen. Counsel & Dir. of Retail Ops. 181307 0 1272 0 0 0 5514 0 275 0 188368 0 0 0 Part I, Line 4a Robert Gallas received a severance payment of 23,370 in 2014. Part I, Line 7 The compensation committee reviewed and approved bonuses for three highly compensated employees due to an assumption of increased responsibilities. A IFA Series 2009A-D 851091967 45200FJ91 2009-12-17 64000000 Construction, Exhibits 0 0 0 A 2000000 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 benefitting 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. David E Donovan Trustee 645596 Bond/Loc Interest/Fees; David E. Donovan, a Trustee of MSI, is a co-CEO of Chase Capital Corporation. MSI's transactions with JP Morgan are done in terms similar to those given to the general public. The conflict exists in that Mr. Donovan is a member of the finance committee, which approves all financial matters of MSI including banking. To resolve this conflict Mr. Donovan does not participate in discussions regarding the relationship with JP Morgan Chase and excuses himself when the finance committee is voting on financial matters related to MSI and JP Morgan Chase. 0 David E Donovan Trustee 681869 Corporate Credit Card Payments 0 William L Morrison Trustee 173836 Bond/Bank fees; William L. Morrison, a Trustee of MSI, is President and COO of Northern Trust Bank. Northern Trust Bank provides banking, asset/treasury management, and commercial lending for MSI. These services are provided in the same terms as those given to the general public. The conflict exists in that Mr. Morrison is a member of the finance committee, which approves all financial matters of MSI including banking. To resolve this conflict Mr. Morrison does not participate in discussions regarding the relationship with Northern Trust Bank and excuses himself when the finance committee is voting on financial matters related to MSI and Northern Trust Bank. 0 X 28 1632914 FMV X Columbian Ball Special Event Donations 610 100040 Cost/Selling Price X United Airline Tickets 138 74947 Cost/Selling Price X Black Creativity Special Event Donations 61 31923 Cost/Selling Price X Facilities & Major Gifts 30 8250 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 Crown and Lester Crown have a family relationship. Deborah L. DeHass and Betsy D. Holden have a family relationship. Jason Pritzker and Cindy Pritzker have a family relationship. Barry MacLean and Duncan MacLean have a family relationship. Cedric Thurman and Sheila Penrose have a business relationship outside of the Museum. James Crown and Lester Crown have a business relationship outside of the Museum. Betsy Holden and H. John Livingston have a business relationship outside of the Museum. James T. Ryan and David Grainger have a business relationship outside of the Museum. Charles K. Bobrinskoy and David J. Vitale have a business relationship outside of the Museum. Deborah DeHaas and Byron Spruell have a business relationship outside of the Museum. James Crown and David Donovan have a business relationship outside of the Museum. Kenneth Dort and Jesse Ruiz have a business relationship outside of the Museum. Deborah DeHaas and Michael P. Krasny have a business relationship outside of the Museum. John Canning and Michael P. Krasny have a business relationship outside of the Museum. Deborah DeHaas and Thomas Wilson have a business relationship outside of the Museum. Matthew R. Gibson and Thomas Wilson have a business relationship outside of the Museum. Michael Ferro, Jr., John Canning, and Michael J. Sacks have a business relationship outside of the Museum. Charles Bobrinskoy and Eric Lefkofsky serve on a board outside of the Museum. Edward Liddy, James Farrell and Robert Morrison serve on a board outside of the Museum. James T. Ryan, Scott Santi and David Grainger serve on a board outside of the Museum. James Gray, William Devers, Andrew J. McKenna and Michael Ferro serve on a board outside of the Museum. James Farrell, Edward Liddy and William Osborn serve on a board outside of the Museum. Richard Lenny, William Massey, Andrew McKenna, Sheila Penrose and James Skinner serve on a board outside of the Museum. David Donovan and James Crown serve on a board outside of the Museum. Michelle Collins, Frederick Krehbiel and Michael J. Birck serve on a board outside of the Museum. Christopher Crane, John Canning, and Jesse Ruiz serve on a board outside of the Museum. David Vitale and Gregory D. Smith serve on a board outside of the Museum. David Vitale, Charles Bobrinskoy and John Canning are members of limited partner committees governing the same business entity. Frank M. Clark: indicated he serves on a board outside the Museum with another trustee but did not provide trustee name. Michael Ferro, Jr., William Devers, Jr., and Matthew Maloney serve on a board outside of the Museum. James Gray and William Goodyear serve on a board outside of the Museum. David Vitale: indicated he serves on a board outside the Museum with other trustees but did not provide the trustees name. Andrew J. McKenna: indicated he serves on a board outside the Museum with another trustee but did not provide trustee name. John Canning: indicated he is on the board of Sage Products, LLC. Form 990, Part VI, Section B, line 11 The Museum's 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. 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 2013 Form 990 on its website and made copies of 2011, 2012, 2013 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 19,807.