2013-04-11T12:59:51-05:00 2012-06-30 390859910 BAKER TILLY VIRCHOW KRAUSE LLP 225 S 6TH ST STE 2300 MINNEAPOLIS MN 55402 990 2011-07-01 410706172 SCIENCE MUSEUM OF MINNESOTA SCIE 6512219418 120 W KELLOGG BLVD ST PAUL MN 55102 ERIC JOLLY 6512219418 2013-04-05 1 LAWRENCE H MOHR CPA P00447603 6128764500 2011 2016-02-25 16:41:14Z ERIC JOLLY 120 W KELLOGG BLVD ST PAUL MN 55102 55044173 0 X WWW.SMM.ORG X 1907 MN SEE SCHEDULE O 28 28 822 1234 462578 85139 13651095 14408394 22075517 19761429 810061 -3367120 261966 257160 36798639 31059863 0 0 0 0 22073780 20169955 39306 36748 1895145 15934766 17922394 38047852 38129097 -1249213 -7069234 150380842 143672169 32901715 30945163 117479127 112727006 X THE MUSEUM'S MISSION IS TO "TURN ON SCIENCE: REALIZING THE POTENTIAL OF POLICY MAKERS, EDUCATORS AND INDIVIDUALS TO ACHIEVE FULL CIVIC AND ECONOMIC PARTICIPATION IN THE WORLD." 0 0 11014613 8996435 EXHIBIT EXHIBITION, PRODUCTION, DISTRIBUTION & OPERATIONS:EXPENSES IN THIS AREA COVER THE EXHIBITION OF TRAVELING EXHIBITS, AND THE PRODUCTION AND DISTRIBUTION OF SCIENCE MUSEUM OF MINNESOTA (SMM)-PRODUCED EXHIBITS. THESE INCLUDE SCIENCE LEARNING DIVISION PROGRAMS HIGHLIGHTING SCIENCE, TECHNOLOGY, ENGINEERING, & MATH (STEM). SCIENCE MUSEUM PRODUCES TRAVELING EXHIBITIONS THAT TOUR THE NATION. THE TRAVELING EXHIBITIONS HIGHLIGHT THE STEM INITIATIVES. TOTAL ATTENDANCE FOR FISCAL YEAR ENDED 6/30/12 TOTALED 652,283. 6237433 5877196 EDUCATION DIVISION:THE SCIENCE MUSEUM OF MINNESOTA'S EDUCATION DIVISION CREATES AND DELIVERS EDUCATIONAL PROGRAMS THAT INCREASE THE PUBLIC'S UNDERSTANDING OF SCIENCE, TECHNOLOGY, ENGINEERING, AND MATH AND THAT SERVE TO ATTRACT YOUTH TO SCIENCE AND SCIENCE CAREERS. THE EDUCATION DIVISION INCORPORATES 12 DEPARTMENTS AND APPROXIMATELY 36 GRANT-FUNDED PROJECTS. PROGRAMS THAT SERVE K-12 SCHOOL AUDIENCES INCLUDE THE FOLLOWING:SCHOOL OUTREACH DELIVERS MUSEUM PROGRAMS THROUGHOUT MINNESOTA AND THE SURROUNDING STATES TO BOTH SCHOOL AND NON-SCHOOL AUDIENCES. PROGRAMS INCLUDE SCIENCE DEMONSTRATIONS AND ASSEMBLIES, WEEKLONG SCIENCE RESIDENCIES, MUSEUM TRUNKS, AND AN ARRAY OF EDUCATIONAL RESOURCES, PRODUCTS, AND MATERIALS FOR THE CLASSROOM. TEACHER PROFESSIONAL DEVELOPMENT PROGRAMS INCLUDING SCIENCE CONTENT CONFERENCES, INQUIRY INSTITUTES/WORKSHOPS, AND SCIENCE HOUSE, A TEACHER RESEARCH CENTER THAT PROVIDES HANDS ON OBJECTS FOR LOANS TO SCHOOLS.THE SCHOOL SERVICES AND SCHOOL VISITS DEPARTMENTS PROVIDE WEEKLONG SCIENCE RESIDENCIES, SCIENCE ENRICHMENT CLASSES, PRE AND POST FIELD TRIP VISIT MATERIALS LINKING OUR EXHIBITS WITH STATE SCIENCE/MATH STANDARDS, AND AN ONLINE NEWSLETTER FOR SCIENCE EDUCATORS. THE WARNER NATURE CENTER WHICH IS AN AFFILIATED PROGRAM OF THE MUSEUM PROVIDES SCHOOL, ADULT, FAMILY, AND YOUTH AUDIENCES WITH A NUMBER OF ENVIRONMENTAL EDUCATION AND ENVIRONMENTAL SCIENCE ACTIVITIES AND PROGRAMS.BESIDES SERVING THE K-12 SCHOOL AUDIENCES, SMM DEVELOPED AND CONDUCTED A BROAD ARRAY OF EDUCATIONAL PROGRAMS FOR OUT OF SCHOOL AUDIENCES. THE YOUTH AND FAMILY PROGRAMS DEPARTMENT OFFERS SCIENCE ENRICHMENT CLASSES, WORKSHOPS, SPECIAL WEEKEND EVENTS, AND WEEKLONG SCIENCE CAMPS FOR CHILDREN (3-13) AND FAMILIES COVERING A BROAD, MULTI-DISCIPLINED ARRAY OF STEM CONTENT. YOUTH PARTICIPATED IN THESE PROGRAMS AT THE MUSEUM AND MULTIPLE COMMUNITY SITES AWAY FROM THE MUSEUM. THE LEARNING TECHNOLOGIES CENTER (LTC) IS AN APPLIED EDUCATIONAL RESEARCH AND DEVELOPMENT CENTER ORGANIZED TO SUPPORT INFORMAL SCIENCE LEARNING EXPERIENCES THROUGH CREATIVE AND MEANINGFUL APPLICATIONS OF DIGITAL TECHNOLOGIES. THE LTC SERVES AS A PROJECT FUNDED INCUBATOR FOR DEVELOPING NEW METHODS AND WEB-BASED APPROACHES FOR INTEGRATING DIGITAL AND INFORMATION TECHNOLOGIES INTO EXHIBITS AND ONGOING MUSEUM PROGRAMS. LTC PROVIDED A VARIETY OF CAMPS, WORKSHOPS, AND PROGRAMS FOR YOUTH, ADULTS AND FAMILIES THAT REACHED OVER A THOUSAND PARTICIPANTS THIS PAST YEAR. ANOTHER SIGNIFICANT MUSEUM PROGRAM IS THE KITTY ANDERSEN YOUTH SCIENCE CENTER (YSC) WHICH IS AN ENDOWED CENTER THAT ENGAGES AND INTEGRATES UNDERSERVED TEEN YOUTH INTO THE MUSEUM'S PROGRAMS AND OPERATIONS. THE YSC PROVIDES A COORDINATED PATHWAY OF LEARNING AND WORKING OPPORTUNITIES IN THE MUSEUM FOR YOUTH BETWEEN THE AGES OF 13-18. SEVERAL HUNDRED YOUTH, WORKING IN TEAMS AND MENTORED BY ADULT STAFF AND VOLUNTEERS, ENGAGE IN SCIENTIFIC RESEARCH, EXHIBIT DEVELOPMENT, COMMUNITY OUTREACH, AND SPECIAL MUSEUM EVENTS EACH YEAR. THE ADULT AND GROUP PROGRAMS OFFERS OVERNIGHT CAMP-INS FOR YOUTH AND FAMILY GROUPS, A VARIETY OF ADULT SCIENCE LECTURES AND CLASSES, AND OCCASIONAL FAMILY FIELD TRIPS AND TOURS FOR THE COMMUNITY AND THE MUSEUM'S MEMBERSHIP. THE COMPUTER EDUCATION CENTER DEVELOPS AND DELIVERS SEVERAL THOUSAND SOFTWARE AND COMPUTER TRAINING CLASSES A YEAR FOR MUSEUM MEMBERS, AND BUSINESS OR PROFESSIONAL AUDIENCES. 2236440 2070176 SCIENCE DIVISIONANTHROPOLOGY:THE SCIENCE MUSEUM OF MINNESOTA'S ANTHROPOLOGY DEPARTMENT HAS CURATORIAL RESPONSIBILITIES FOR THE MUSEUM'S WORLDWIDE COLLECTIONS OF ARCHAEOLOGICAL AND ETHNOLOGICAL ARTIFACTS. ANTHROPOLOGY DEPARTMENT ACCESSIONED A VARIETY OF COLLECTIONS TO ENHANCE OUR HOLDINGS. NUMEROUS JOB SHADOWS, INTERVIEWS, AND OTHER EDUCATIONAL OPPORTUNITIES WERE PROVIDED. STAFF ALSO USED A NUMBER OF "COMMUNITY CURATORS" TO HELP IDENTIFY ARTIFACTS AND GET THE CORRECT VOICE FOR EXHIBITIONS AS WELL AS TO ENHANCE OUR PERMANENT RECORDS FOR EACH OBJECT. WE ARE CONTINUING TO GERMINATE SEEDS OF INDIGENOUS SPECIES FROM THE MUSEUM'S PERMANENT COLLECTION FOR RESEARCH AND OUTREACH PURPOSES.BIOLOGY:BIOLOGY STAFF CONDUCTS AND COLLABORATES ON RESEARCH, AND MAINTAINS, BUILDS, AND EXHIBITS COLLECTIONS OF VERTEBRATE AND INVERTEBRATE ANIMALS AND PLANET SPECIMENS. BIOLOGIST GAVE ON-FLOOR PRESENTATIONS DEMONSTRATING SPECIMEN PREPARATION TO SCHOOL GROUPS AND OTHER MUSEUM VISITORS, AND WORKED WITH CHILDREN PARTICIPATING IN VARIOUS MUSEUM EDUCATION PROGRAMS. THE BIOLOGIST CONTINUED ONGOING PROJECT COLLECTING PLANT SPECIMENS IN GREATER MINNESOTA, COMPLETED CONTRACT WORK FOR THE MINNESOTA DEPARTMENT OF NATURAL RESOURCES, AND CONTINUED TO ADD BIOLOGICAL SPECIMENS TO THE MUSEUM'S COLLECTIONS. THE BIOLOGIST CONTINUES TO PARTICIPATE PROGRAM MENTORING FOR URBAN YOUTH.PALEONTOLOGY:THE PALEONTOLOGY DEPARTMENT IS CONCERNED WITH COLLECTING, PRESERVING, EXHIBITING, AND INTERPRETING PALEONTOLOGICAL MATERIALS, INVOLVING AN INTENSIVE PROGRAM OF PREPARATION AND SYSTEMATIC CLASSIFICATION WHICH PUTS THE ORGANISMS WITHIN A CONTEXT OF THEIR FUNDAMENTAL RELATIONSHIPS. MUSEUM PALEONTOLOGISTS CONDUCTED FIELD RESEARCH PROJECTS AROUND THE COUNTRY. NUMEROUS SPECIMENS WERE ADDED TO THE MUSEUM'S COLLECTIONS.COLLECTIONS MANAGEMENT AND CONSERVATION: (COLLECTIONS SERVICES)THE SCIENCE MUSEUM OF MINNESOTA'S COLLECTIONS SERVICES ARE RESPONSIBLE FOR THE HEALTH, SAFETY, AND SECURITY OF THE MUSEUM'S COLLECTIONS IN STORAGE, ON EXHIBIT, AND ON LOAN. STAFF MAINTAINS, PRESERVES, ORGANIZES AND CATALOGS THE COLLECTIONS. THE PLANNING OF COLLECTIONS MANAGEMENT CONTINUED TO FOCUS ON DIGITIZATION OF THE COLLECTIONS TO MAKE THEM MORE ACCESSIBLE TO A BROADER AUDIENCE. COLLECTIONS STAFF GAVE NUMEROUS TOURS OF LAB FACILITIES AND COLLECTIONS TO COUNTLESS COMMUNITY, EDUCATIONAL, AND DONOR GROUPS. CONSERVATION STAFF PERFORMED TREATMENT ON AN ONGOING MAINTENANCE OF COLLECTIONS AND PREPARED ARTIFACTS FOR EXHIBIT. INTEGRATED PEST MANAGEMENT AND ENVIRONMENTAL MONITORING WAS CONTINUED FOR THE ENTIRE MUSEUM. COLLECTIONS STAFF GAVE A NUMBER OF TALKS AT CONFERENCES ABOUT COLLECTIONS PLANNING, MOVING COLLECTIONS, AND THE CONTINUED NEED OF COLLABORATION IN WHAT WE DO IN OUR INDUSTRY. WE CONTINUE TO HELP WITH ALL ASPECTS OF THE INSTALLING AND TAKING DOWN OF OUR TRAVELING EXHIBITIONS.ST. CROIX WATERSHED RESEARCH STATION:THE MUSEUM'S ST. CROIX WATERSHED RESEARCH STATION CONDUCTS ECOLOGICAL RESEARCH AT THE WATERSHED SCALE AND MANAGED STAFF RESEARCH PROJECTS. STUDIES CONTINUED ON THE ROLE OF MERCURY IN THE ENVIRONMENT, WITH CONCENTRATION ON THE ROLE OF METHYL MERCURY IN FORESTED WETLANDS. STUDIES OF THE ST. CROIX RIVER INCLUDED ANALYSIS OF WETLAND ENVIRONMENTAL HISTORIES, DEVELOPMENT OF A WATERSHED MODEL TO PROVIDE TECHNICAL INFORMATION TO WATER MANAGEMENT ORGANIZATIONS, AND RESTORATION OF SEVERAL PRAIRIES IN THE WATERSHED. SEVERAL COOPERATIVE PROJECTS WITH THE NATIONAL PARK SERVICE CONTINUE TO FOCUS ON DEVELOPMENT OF PROTOCOLS FOR INVENTORY AND MONITORING OF RESOURCES IN NATIONAL PARKS OF THE GREAT LAKES REGION. 13808886 1028740 OTHER PROGRAM SERVICES INCLUDE MEMBERSHIP COSTS SUPPORTING THE MUSEUM'S MEMBER HOUSEHOLDS, OMNITHEATER OPERATION AND FILM DISTRIBUTION EXPENSES FOR THE MUSEUM'S EDUCATIONAL FILMS. OTHER EXPENSES INCLUDE COMMUNICATIONS AND MARKETING, DEPRECIATION, BUILDING MAINTENANCE AND OPERATION EXPENSES. 13808886 1028740 33297372 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 1 153 0 822 1 1 1 1 CJ LU 0 0 0 1 1 0 0 0 0 X 28 28 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X DUANE KOCIK 6512219418 120 WEST KELLOGG BLVD ST PAUL MN 55102 MR JOHN STANOCH 1.00 X X 0 0 0 MR RICHARD H KING 1.00 X X 0 0 0 MR MARY D CARTER 1.00 X X 0 0 0 MR RICHARD O LUND 1.00 X X 0 0 0 MR RUSS NELSON 1.00 X X 0 0 0 MR ELLIS BULLOCK 1.00 X 0 0 0 MS DEBORAH BURKE 1.00 X 0 0 0 MR RONALD L CHRISTENSON 1.00 X 0 0 0 MR CHARLES M DENNY JR 1.00 X 0 0 0 MR EDWARD J DRISCOLL III 1.00 X 0 0 0 MR ROBERT ELDE 1.00 X 0 0 0 MR GARY L ELLIS 1.00 X 0 0 0 MR JOHNATHAN B FARBER 1.00 X 0 0 0 DR ALAN L GOLDBLOOM 1.00 X 0 0 0 MR GEORGE J KEHL 1.00 X 0 0 0 MR PETER J OLIN 1.00 X 0 0 0 DR FRED J PALENSKY 1.00 X 0 0 0 MR STEVEN PROESCHEL 1.00 X 0 0 0 MR JOHN A ROMANS 1.00 X 0 0 0 MS DIANE M SCHMIDT 1.00 X 0 0 0 MR JAMES J SEIFERT 1.00 X 0 0 0 MR TODD SOLLER 1.00 X 0 0 0 MR WILLIAM J SWEASY 1.00 X 0 0 0 MS JEAN TAYLOR 1.00 X 0 0 0 MR DANIEL TITCOMB 1.00 X 0 0 0 MR RICHARD G TREMBLEY 1.00 X 0 0 0 MS ANDREA M WALSH 1.00 X 0 0 0 MR MITCHELL ZAMOFF 1.00 X 0 0 0 DR ERIC JOLLY 40.00 X 515331 0 40594 MR DUANE KOCIK 40.00 X 175478 0 16902 MS JILL RUDNITSKI 40.00 X 159269 0 27388 MR MIKE DAY 40.00 X 140630 0 11615 MR PAUL MARTIN 40.00 X 130072 0 32683 MS SARAH OLSON-SCOVILL 40.00 X 122606 0 30703 MR RON LAWRENZ 40.00 X 102864 0 18866 MS JULIE JOHNSON 40.00 X 120886 0 17174 MR DAVE CHITTENDEN 40.00 X 107406 0 6903 1574542 0 202828 9 1 1 0 FAEGREBAKERDANIELS 90 S 7TH ST MINNEAPOLIS MN 55402 LEGAL SERVICES 160178 GORTON STUDIOS 4640 NICOLS RD EAGAN MN 55122 TESSITURA SERVICES 157150 AUTOMATIC DATA PROCESSING PO BOX 78415 PHOENIX AZ 85062 PAYROLL SERVICES 150728 BENTZ WHALEY FLESSNER 7251 OHMS LANE MINNEAPOLIS MN 55439 FUNDRAISING SERVICES 148052 INDUSTRIAL ARTISANS 211 ST ANTHONY PKWY MINNEAPOLIS MN 55418 FURNITURE / CARPENTRY SVS. 142232 5 8784045 5624349 110195 14408394 ADMISSIONS AND FEES 713990 8081707 8081707 FILM/EXHIBIT RENTAL 713990 7502699 7502699 MEMBERSHIPS 713990 2388141 2388141 PARKING RAMP 812930 1788882 446701 1342181 19761429 480230 7300 472930 275817 262851 12966 12966 8577 4389 19128676 22976026 -3847350 -3847350 -3847350 989627 745433 244194 244194 31059863 17972547 462578 -1783656 908478 740500 167978 15363039 13599661 944617 818761 970024 810742 100458 58824 1683643 1368994 203993 110656 1244771 1040374 128911 75486 117377 89431 25589 2357 97176 97176 36000 36000 36748 36748 87288 87288 1465253 1026352 264051 174850 1237123 1237123 1133526 1029961 31410 72155 379822 379822 2678396 2550121 71364 56911 804002 770278 20164 13560 205326 152674 34626 18026 993756 971396 12422 9938 5194866 5134818 33360 26688 245942 114950 130992 UBI TAXES ACCRUED 8000 8000 OTHER EXHIBIT PROGRAM E 1228989 1228989 OTHER EDUCATIONAL PROGR 1127159 1127159 MISCELLANEOUS 496669 270803 9659 216207 385724 385724 38129097 33297372 2936580 1895145 36450 37450 4642258 8331581 2830144 1528266 5466536 5593897 219423 209378 61627 305064 177351513 90120148 87359064 87231365 12582288 13836944 36382333 26097505 800719 500719 150380842 143672169 4606709 3814125 4002106 3487883 19300000 18500000 1813009 1694982 3179891 3448173 32901715 30945163 X 88816713 86663633 11020412 8580921 17642002 17482452 117479127 112727006 150380842 143672169 X -7069234 2317113 X X 0 1 1 X 1 1 X 13935124 15519256 15067386 13651095 14408394 72581255 13935124 15519256 15067386 13651095 14408394 72581255 4720354 67860901 105569 376131 661926 655837 480230 2279693 217197 235904 20844 92347 86139 652431 79571 16690 96261 75609640 106223649 0.89750 0.89790 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 36000 0 0 0 36000 0 EXPLANATION OF LOBBYING ACTIVITIES: PART II-B, LINE 1: THE SCIENCE MUSEUM ENGAGED A MINNESOTA GOVERNMENT RELATIONS FIRM TO REPRESENT THE MUSEUM'S INTEREST TO THE MINNESOTA LEGISLATURE. X X 2 67.00 1 1 80.00 5000 1 X X X X 0 42330815 25136 -127330 3370369 -1606942 40465194 37375890 322886 5928782 1296743 42330815 37649657 69936 1993537 2337240 37375890 47360567 126500 -9822123 15287 37649657 0.49000 0.43000 0.08000 0 0 2429155 2429155 95471410 32944446 62526964 10347050 8018776 2328274 69103898 49156926 19946972 87231365 BENEFICIAL INTEREST IN TRUST 1063380 F ALTERNATIVE INVESTMENTS - COMMINGLED FUNDS 10321837 F ALTERNATIVE INVESTMENTS - HEDGE FUNDS 9982293 F ALTERNATIVE INVESTMENTS - PRIVATE EQUITY 4729213 F ALTERNATIVE INVESTMENTS - OTHER 782 F 26097505 CAPITAL LEASE PAYABLE 727154 INTEREST RATE SWAP LIABILITY 2721019 3448173 31059863 38129097 -7069234 3610739 -1293626 2317113 -4752121 34344637 3610739 -285342 3325397 31019240 40623 40623 31059863 39096758 1008284 1008284 38088474 40623 40623 38129097 EXPLANATION OF EASEMENTS ENFORCEMENT POLICIES: PART II, LINE 5: WRITTEN POLICIES ARE IN PLACE REGARDING MONITORING, INSPECTING, RESPONDING TO VIOLATIONS AND ENFORCING CONSERVATION EASEMENTS. OUR EASMENTS CONTAIN PROVISIONS GRANTING US THE RIGHT OF ACCESS TO THE PROPERTY FOR PURPOSES OF INSPECTING THE EASEMENT. THE POLICY REGARDING RESPONSE TO VIOLATIONS AND ENFORCEMENT SET FORTH PROCEDURES REGARDING THE IDENTIFICATION, DOCUMENTATION, AND CLASSIFICATION OF RESPONSES TO EASEMENT VIOLATIONS. IT ALSO INCLUDES A PROCESS FOR ADDRESSING VIOLATIONS. DESCRIPTION OF HOW ORGANIZATION REPORTS CONSERVATION EASEMENTS: PART II, LINE 9: THE MUSEUM DOES NOT RECORD ANY VALUE FOR CONSERVATION EASEMENTS IN ITS REVENUE AND EXPENSE STATEMENT OR BALANCE SHEET. PART III, LINE 1A: THE MUSEUM'S COLLECTIONS ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTIONS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR AS TEMPORARILY RESTRICTED NET ASSETS IF A DONOR MAKES A CONTRIBUTION INTENDED TO FUND THE SUBSEQUENT PURCHASE OF COLLECTIONS. CONTRIBUTIONS OF COLLECTIONS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. PART III, LINE 4: THE SCIENCE MUSEUM OF MINNESOTA HAS A COLLECTION OF NEARLY TWO MILLION ARTIFACTS AND SPECIMENS FROM THE DISCIPLINES OF ANTHROPOLOGY, BIOLOGY, PALEONTOLOGY AND GEOLOGY. THESE OBJECTS ARE USED AS THE BASIS FOR RESEARCH AND SCHOLARLY PUBLICATIONS BY SCIENCE MUSEUM CURATORS, AS WELL AS VISITING SCIENTISTS. THE COLLECTIONS ENABLE COLLABORATION WITH OTHER MEMBERS OF THE SCIENTIFIC COMMUNITY THROUGH LOANS AND TRADES OF CASTS AND SPECIMENS WITH OTHER INSTITUTIONS. THE MUSEUM'S STEWARDSHIP OF THIS COLLECTION ENSURES THE PHYSICAL INTEGRITY OF ITS INDIVIDUAL PIECES, AS WELL AS PREPARING ARTIFACTS AND SPECIMENS FOR PUBLIC EXHIBITION. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MUSEUM TYPICALLY SPENDS 4-6% OF THE ENDOWMENT'S ASSETS EVERY YEAR TO FUND GENERAL OPERATIONS OF THE MUSEUM OR DONOR SPECIFIED PURPOSES WHICH ARE ALIGNED WITH THE MISSION OF THE MUSEUM. ANY EXCESS EARNINGS ARE REINVESTED TO AUGMENT THE ENDOWMENT AND TO COMPENSATE FOR INFLATION AND RECESSIONS IN FUTURE YEARS. IN THE FISCAL YEAR ENDED 06/30/2012, THERE WAS A PRIOR PERIOD ADJUSTMENT MADE TO THE ENDOWMENT FUNDS. THE AMOUNT OF THE ADJUSTMENT IS REFLECTED ON SCHEDULE D, PART V, LINE 1F. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE MUSEUM HAS RECEIVED NOTIFICATION THAT IT QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CORRESPONDING PROVISION OF STATE LAW. ACCORDINGLY, THE MUSEUM IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSES (UNRELATED TRADE OR BUSINESS ACTIVITIES). THE MUSEUM HAD NO MATERIAL UNRELATED BUSINESS INCOME DURING THE YEAR; HOWEVER, A LIABILITY OF $8,000 AND $42,000 WAS RECORDED FOR THE YEARS ENDED JUNE 30, 2012 AND 2011, RESPECTIVELY. THE MUSEUM FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE MUSEUM FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2012 AND 2011. THE MUSEUM'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEARS 2009 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS -179,550. UNREALIZED GAIN ON INTEREST RATE SWAPS -1,114,076. TOTAL TO SCHEDULE D, PART XI, LINE 8: -1,293,626. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS -179,550. UNREALIZED LOSS ON INTEREST RATE SWAPS -1,114,076. MUSEUM STORE DIRECT EXPENSES 745,433. DIRECT RENTAL PROPERTY EXPENSES 262,851. PART XIII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL PROPERTY EXPENSE 262,851. MUSEUM STORE DIRECT EXPENSE 745,433. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENT ACTIVITIES 12230553 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENT ACTIVITIES 1023683 0 0 0 0 0 0 13254236 0 13254236 1 0 0 1 1 0 X X X X X X 1 ARIA COMMUNICATIONS 717 WEST ST GERMAIN STREET ST CLOUD MN 56301 TELEMARKETING 0 0 22573 -22573 COMMUNICATION MAILING SERVICES INC 429 PRIOR AVE N STE 100 ST PAUL MN 55104 MAILING SERVICES FOR ANNUAL GIVING CAMPAIGN 0 0 14175 -14175 36748 -36748 MN X X X X X X 0 0 0 0 0 0 0 0 0 DR ERIC JOLLY 380874 0 104840 0 29617 0 20000 0 20594 0 555925 0 0 0 MR DUANE KOCIK 168335 0 4000 0 3143 0 13878 0 3024 0 192380 0 0 0 MS JILL RUDNITSKI 152695 0 4000 0 2574 0 12952 0 14436 0 186657 0 0 0 MR MIKE DAY 135140 0 4000 0 1490 0 11152 0 463 0 152245 0 0 0 MR PAUL MARTIN 124960 0 4000 0 1112 0 10912 0 21771 0 162755 0 0 0 MS SARAH OLSON-SCOVILL 117755 0 4000 0 851 0 10260 0 20443 0 153309 0 0 0 MS JULIE JOHNSON 120886 0 0 0 0 0 10195 0 6979 0 138060 0 0 0 MR DAVE CHITTENDEN 90968 0 0 0 16438 0 0 0 6903 0 114309 0 0 0 US BANK A BOARD MEMBER IS A MANAGING DIRECTOR OF THE BANK 292775 THE SCIENCE MUSEUM OF MINNESOTA CONTRACTS BANKING SERVICES WITH US BANK SUCH AS LINES OF CREDIT, CREDIT CARDS, CHECKING ACCOUNTS, INVESTMENT ACCOUNTS, DURING THEIR NORMAL COURSE OF BUSINESS IN WHICH DEBORAH-BURKE IS EMPLOYED BY US BANK AS A SVP,MANAGING DIRECTOR. THE BOARD MEMBER ABSTAINED FROM DECISIONS MADE REGARDING BUSINESS TRANSACTIONS WITH THE INTERESTED PERSON'S ORGANIZATION. 0 X 19 110195 FAIR MARKET VALUE 0 0 1 0 ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 THE SCIENCE MUSEUM OF MINNESOTA IS ONE OF THE STATE'S OLDEST AND BEST-KNOWN CULTURAL INSTITUTIONS, WITH A HISTORY DATING BACK TO 1907. THE MUSEUM'S MISSION STATEMENT IS "TURN ON THE SCIENCE: REALIZING THE POTENTIAL OF POLICY MAKERS, EDUCATORS AND INDIVIDUALS TO ACHIEVE FULL CIVIC AND ECONOMIC PARTICIPATION IN THE WORLD." THE SCIENCE MUSEUM'S FACILITY IS A CORNERSTONE OF ST. PAUL'S RIVERFRONT REVITALIZATION PROJECT AND SERVES MORE THAN ONE MILLION PEOPLE EACH YEAR WITH A UNIQUE COMBINATION OF CUTTING-EDGE TECHNOLOGY, HIGH-TECH ENTERTAINMENT, ENGAGING TEMPORARY EXHIBITIONS, AND A WORLD-CLASS COLLECTION OF FOSSILS AND ARTIFACTS SPANNING BILLIONS OF YEARS OF THE EARTH'S HISTORY. THE SCIENCE MUSEUM OF MINNESOTA IS THE MOST-VISITED MUSEUM IN THE FIVE-STATE REGION AND CONSISTENTLY RANKS FIRST IN THE TWIN CITIES RANKINGS FOR FAVORITE MUSEUMS AND FAVORITE FAMILY OUTINGS. ADDITIONALLY, THE SCIENCE MUSEUM OF MINNESOTA IS ONE OF THE NATION'S MOST PROLIFIC PRODUCERS OF ORIGINAL SCIENCE EXHIBITS. DRAWING ON RESEARCH FROM THE MUSEUM'S OWN STAFF, THE SCIENCE MUSEUM CREATES EXHIBITS THAT CONTINUE TO BE ENJOYED BY MILLIONS. FORM 990, PART VI, SECTION A, LINE 1 THE BYLAWS OF THE SCIENCE MUSEUM OF MINNESOTA SECTION 5.2 STATE "THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY OF THE BOARD OF TRUSTEES IN THE MANAGEMENT OF THE BUSINESS OF THIS CORPORATION IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD OF TRUSTEES, AND THE EXECUTIVE COMMITTEE SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE'S INCLUDES : CHAIRMAN OF THE BOARD, VICE CHAIRMAN OF THE BOARD, BOARD SECRETARY, TREASURER OF THE BOARD, AND CHAIRMAN OF THE FOLLOWING COMMITTEES: FINANCE AND ADMINISTRATION, AUDIT, NOMINATING AND BOARD DEVELOPMENT, COLLECTIONS, COMPENSATION." FORM 990, PART VI, SECTION B, LINE 11 THE SCIENCE MUSEUM OF MINNESOTA'S FORM 990 IS MADE AVAILABLE TO THE MUSEUM'S BOARD OF TRUSTEES PRIOR TO IT'S REVIEW AND APPROVAL BY THE MUSEUM'S AUDIT COMMITTEE. IT SHOULD BE NOTED THAT THE BOARD OF TRUSTEES HAS DELEGATED AUTHORITY FOR THE REVIEW AND APPROVAL OF THE FORM 990 TO THE MUSEUM'S AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS VALIDATED ON AN ANNUAL BASIS FOR BOARD MEMBERS AND SENIOR STAFF. THE POLICY COVERS BOTH THE RESPONSIBLE PERSON AND ANY FAMILY MEMBERS. PRIOR TO ANY TRANSACTION INVOLVING A CONFLICT OF INTEREST, SENIOR STAFF OR COMMITTEE MEMBER HAVING A CONFLICT OF INTEREST SHALL DISCLOSE ALL FACTS MATERIAL TO THE CONFLICT OF INTEREST. A PERSON WHO HAS A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION THAT WILL BE VOTED ON AT A MEETING SHALL NOT BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM FOR THE PURPOSES OF THE VOTES. SUCH A PERSON SHALL NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER. AN EMPLOYEE WHO IS NOT A MEMBER OF THE BOARD OF TRUSTEES OF THE SCIENCE MUSEUM OF MINNESOTA SHALL DISCLOSE TO HIS/HER SUPERVISOR ANY CONFLICT OF INTEREST THAT SUCH EMPLOYEE HAS WITH RESPECT TO A CONTRACT OR TRANSACTION. SUCH DISCLOSURE SHALL BE MADE AS SOON AS THE CONFLICT OF INTEREST IS KNOWN TO THE EMPLOYEE. EMPLOYEES SHALL REFRAIN FROM ANY ACTION THAT MAY INFLUENCE THE SCIENCE MUSEUM OF MINNESOTA'S PARTICIPATION IN SUCH CONTRACT OF TRANSACTION.DURING THE FISCAL YEAR THE BOARD OF TRUSTEES DID NOT REPORT ANY CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE AND COMPENSATION COMMITTEE IS COMPRISED OF MEMBERS OF THE BOARD OF TRUSTEES. THE COMMITTEE WILL ANNUALLY REVIEW AND REPORT ON THE PRESIDENTIAL PERFORMANCE AGAINST OBJECTIVES AND RECOMMEND THE PRESIDENTIAL COMPENSATION CHANGES TO THE BOARD OF TRUSTEES BASED ON PERFORMANCE AND COMPARATIVES OF A SELECTED PEER GROUP. OTHER OFFICER'S COMPENSATION IS REVIEWED ON A REGULAR BASIS BASED UPON PERFORMANCE AGAINST OBJECTIVES AND COMPARATIVES OF A SELECTED PEER GROUP. THE SCIENCE MUSEUM PERIODICALLY CONTRACTS WITH AN EXTERNAL COMPENSATION CONSULTANT TO EVALUATE ALL BENCHMARK POSITIONS INCLUDING THE CEO, THE SENIOR MANAGEMENT TEAM AND KEY LEADERSHIP ROLES. DEPENDING ON THE ROLE, THE COMPARATIVE MARKET DATA IS A BLEND OF NOT-FOR-PROFIT AND FOR-PROFIT ORGANIZATIONS LOCALLY, REGIONALLY OR NATIONALLY. ALL BENCHMARK POSITIONS ARE TO BE SLOTTED INTO NEW PAY RANGES AND SOME ADJUSTMENTS MAY BE MADE TO ENSURE THE ROLES BETTER REFLECTED THE MARKET. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE PUBLIC INSPECTION COPY OF THE FORM 990 AND 990T ARE ALSO AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,610,739. CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS -179,550. UNREALIZED GAIN ON INTEREST RATE SWAPS -1,114,076. TOTAL TO FORM 990, PART XI, LINE 5: 2,317,113. OVERSIGHT PROCESS FORM 990, PART XII, LINE 2C THE ORGANIZATION'S OVERSIGHT PROCESS HAS NOT CHANGED FROM PRIOR YEAR.