2013-05-15T08:16:37-05:00 2012-06-30 232932984 PARENTEBEARD LLC 46 PUBLIC SQUARE SUITE 400 WILKESBARRE PA 18701 990 2011-07-01 432095418 SCIENCE FESTIVAL FOUNDATION D/B/A WORLD SCIENCE FESTIVAL SCIE 2123481400 475 RIVERSIDE DRIVE SUITE 950 NEW YORK NY 10115 TRACY K DAY 2123481400 2013-05-14 1 JULIUS GREEN CPA P00350393 5708200100 2013-05-09 2011 2016-02-25 16:41:14Z TRACY K DAY 475 RIVERSIDE DRIVE SUITE 950 NEW YORK NY 10015 5507425 0 X WWW.WORLDSCIENCEFESTIVAL.COM X 2006 DE TO ENGAGE AND SUSTAIN A GENERAL PUBLIC INFORMED BY THE SUBSTANCE OF SCIENCE. 6 4 156 304 0 0 4527683 5242178 209626 231239 10788 7237 -228785 -207434 4519312 5273220 0 0 0 0 1996544 2368558 0 32738 522153 2041409 2456377 4037953 4857673 481359 415547 3576946 4156763 607141 771411 2969805 3385352 X THE MISSION OF THE SCIENCE FESTIVAL FOUNDATION IS TO CULTIVATE AND SUSTAIN A GENERAL PUBLIC INFORMED BY THE CONTENT OF SCIENCE, INSPIRED BY ITS WONDER, CONVINCED OF ITS VALUE, AND PREPARED TO ENGAGE WITH ITS IMPLICATIONS FOR THE FUTURE. THE WORLD SCIENCE FESTIVAL, AN UNPRECEDENTED ANNUAL TRIBUTE TO IMAGINATION,INGENUITY AND INVENTIVENESS, TAKES SCIENCE OUT OF THE LABORATORY AND INTO THE STREETS, THEATERS, MUSEUMS, AND PUBLIC HALLS OF NEW YORK CITY, MAKING THE ESOTERIC UNDERSTANDABLE AND THE FAMILIAR FASCINATING. IN 2012, THE FESTIVAL EXPANDED ITS EDUCATIONAL OUTREACH EFFORTS TO PUBLIC SCHOOLS BY PROVIDING SPECIALIZED TEACHER TRAINING MATERIALS AND CURRICULUM GUIDES TO COMPLEMENT SOME OF THE FESTIVAL'S LIVE PROGRAMMING. THESE MATERIALS WERE DISTRIBUTED TO SCHOOLS PRIOR TO THE FESTIVAL, AND TEACHERS WERE INVITED TO BRING THEIR STUDENTS TO THE FESTIVAL. 0 0 3778100 231239 PROGRAM SERVICE ACCOMPLISHMENTS: NOVEL, CREATIVE, AND ARTFULLY PRODUCED PROGRAMS ANDINTERDISCIPLINARY EVENTS - FROM COMPELLING PRESENTATIONS OF CUTTING-EDGE SCIENTIFIC RESEARCH AND CAPTIVATING HANDS-ON DEMONSTRATIONS FOR KIDS, TO WORKS IN THEATRE, FILM AND THE ARTS INSPIRED BY SCIENCE - THE FESTIVAL DRAMATICALLY RAISES THE PROFILE OF SCIENCE. FESTIVAL PROGRAMS ARE TAPED, EDITED AND MADE AVAILABLE YEAR-ROUND ON THE FOUNDATION'S WEBSITE, TOGETHER WITH COMPLEMENTARY CONTENT, DRAMATICALLY EXPANDING THE REACH AND IMPACT OF THE FESTIVAL AND BUILDING A GROWING ARCHIVE OF EDUCATIONAL SCIENCE PROGRAMMING. 3778100 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 69 0 1 156 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 6 4 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 NY X JEFFREY WALLACE - MANAGER OF FINANCE 2123481400 475 RIVERSIDE DRIVE SUITE 950 NEW YORK NY 10115 X BRIAN GREENE 10.00 X X 0 0 0 ALAN ALDA 1.00 X 0 0 0 ANN ZIFF 1.00 X 0 0 0 JUDITH COX 40.00 X X 0 0 0 TRACY DAY 40.00 X X 268461 0 0 GILLIAN SMALL 1.00 X 0 0 0 LEE BOLLINGER 1.00 X 0 0 0 268461 0 0 1 0 1 0 KENT GORDIS PRODUCTIONS 164 20TH STREET SUITE 3E BROOKLYN NY 11232 VIDEO PRODUCTION SERVICE 228217 PJD PRODUCTIONS LLC 439 GREENMOUNT AVENUE CLIFFSIDE PARK NJ 07010 EVENT PRODUCTION SERVICES 164310 SCHARFF-WEISBERG STAGING AND PRO AUDIO 259 WEST 30TH STREET 12TH FLOOR NEW YORK NY 10001 STAGING, LIGHTING, VIEDO, AUDIO 150018 3 468800 26625 4746753 5242178 TICKET SALES 900009 231239 231239 231239 7237 7237 23100 468800 234205 -211105 -211105 MISCELLANEOUS INCOME 900099 3671 3671 3671 5273220 231239 0 -200197 X 317077 317077 1764769 1245747 334725 184297 125537 75527 35380 14630 161175 116854 32950 11371 26469 26469 26916 26916 32738 32738 359669 242272 39183 78214 337264 270955 66309 170651 112865 27772 30014 110419 89439 11042 9938 339956 247197 9125 83634 37113 31112 3058 2943 10800 10800 FESTIVAL PRODUCTION COS 1037120 1029055 8065 4857673 3778100 557420 522153 197882 266 2346692 3104514 218040 310054 315711 282058 2329 2562 539978 99143 462673 440835 33619 16474 3576946 4156763 607141 771411 607141 771411 X 2945305 3385352 24500 0 2969805 3385352 3576946 4156763 415547 0 X X 0 1 0 X 0 X 3027696 4345254 4542054 4527683 5242178 21684865 3027696 4345254 4542054 4527683 5242178 21684865 15216140 6468725 15053 10153 3361 10788 10908 50263 1735 1736 3471 21738599 1126214 0.29760 X SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: THE FOUNDATION QUALIFIES AS A PUBLIC CHARITY UNDER THE "FACTS AND CIRCUMSTANCES" TEST, BASED ON THE FACTS SET FORTH BELOW. FIRST, THE FOUNDATION'S PUBLIC SUPPORT PERCENTAGE IS, IN FACT, SUBSTANTIAL, AS IT IS WELL IN EXCESS OF THE REQUIRED 10%. FOR ITS INITIAL FIVE YEARS OF OPERATION, THE FOUNDATION'S PUBLIC SUPPORT WAS 29.76%. SEE SCHEDULE A, PART II, C. THE FOLLOWING FACTORS ALSO WEIGH IN FAVOR OF PUBLIC CHARITY STATUS UNDER THIS ANALYSIS. FUNDRAISING PROGRAM HAS RESULTED IN BROAD PUBLIC SOURCES OF SUPPORT: THE FOUNDATION HAS MAINTAINED A CONTINUOUS AND BONA FIDE FUNDRAISING PROGRAM TO ATTRACT FUNDS FROM THE PUBLIC SINCE ITS FOUNDING. IN ITS FIRST YEAR OF OPERATIONS, THE FOUNDATION'S FOUNDERS AND OFFICERS SOLICITED FUNDS FROM A FEW DONORS WHO WERE LIKELY TO PROVIDE SEED FUNDING FOR THE ORGANIZATION. HOWEVER, SINCE 2007, THE FOUNDATION HAS EMPLOYED A FULL-TIME DEVELOPMENT STAFF, WITH AN AVERAGE OF THREE EMPLOYEES PER YEAR DEDICATED TO SOLICITING SUPPORT FROM INDIVIDUALS, FOUNDATIONS, CORPORATIONS AND GOVERNMENT GRANTS. FROM TIME TO TIME, THE FOUNDATION HAS CONTRACTED WITH PROFESSIONAL FUNDRAISERS TO SEEK CORPORATE SPONSORSHIPS AND HIRED INDEPENDENT GRANT-WRITERS. THE FOUNDATION ALSO SOLICITS IN-KIND MEDIA SUPPORT FROM MEDIA COMPANIES WHO CAN PLACE ADVERTISEMENTS FOR THE FESTIVAL IN THEIR PUBLICATIONS AND ON THEIR RADIO AND TELEVISION SHOWS, AND FROM A VARIETY OF SERVICE PROVIDERS. THROUGH ALL OF THESE EFFORTS, THE FOUNDATION HAS RECEIVED FINANCIAL, MEDIA AND IN-KIND SUPPORT FROM A DIVERSE GROUP OF INDIVIDUALS, CORPORATIONS, FOUNDATIONS AND GOVERNMENT ENTITIES. SINCE 2008, THE FOUNDATION HAS SUBMITTED MULTIPLE GRANT APPLICATIONS TO OVER 25 FOUNDATIONS AND GOVERNMENT SOURCES, INCLUDING THE NATIONAL SCIENCE FOUNDATION (NSF) AND THE NYC CULTURAL INNOVATION FUND. WHILE NOT ALL OF THESE GRANT APPLICATIONS WERE ACCEPTED, THE FOUNDATION HAS RECEIVED SIGNIFICANT AND REGULAR SUPPORT FROM FOUNDATIONS SUCH AS THE SIMONS FOUNDATION, THE JOHN TEMPLETON FOUNDATION, THE ALFRED P. SLOAN FOUNDATION, THE BILL AND ANN ZIFF FOUNDATION AND THE KAVLI FOUNDATION, AS WELL AS FROM THE NORWEGIAN CONSULATE AND NORWEGIAN ACADEMY OF SCIENCE AND LETTERS. THE FOUNDATION HAS ALSO RECEIVED STATE AND CITY FUNDING FROM THE NEW YORK CITY CULTURAL DEVELOPMENT FUND, THE NEW YORK STATE DEPARTMENT OF EDUCATION AND THE NEW YORK STATE ENERGY AND RESEARCH DEVELOPMENT AUTHORITY. SINCE 2008, THE FOUNDATION HAS ACTIVELY SOLICITED CORPORATE SPONSORS FOR ITS ACTIVITIES, REACHING OUT TO OVER 360 CORPORATIONS. AS A RESULT OF THIS OUTREACH, THE FOUNDATION HAS RECEIVED FINANCIAL SUPPORT FROM CORPORATIONS SUCH AS CREDIT SUISSE, CON EDISON, KNOPF, TIME WARNER CABLE, GOOGLE, COGNIZANT, IFF, AND NORTHROP GRUMMAN. ALTHOUGH NOT COUNTED TOWARDS "PUBLIC SUPPORT," THE FOUNDATION HAS CONSISTENTLY BEEN ABLE TO REDUCE ITS ADVERTISING EXPENDITURES THROUGH CONTRIBUTIONS OF IN-KIND MEDIA SUPPORT VALUED AT OVER $462,000 (IN 2012) FROM OVER 12 DIFFERENT NEWS AND MEDIA ORGANIZATIONS AND PUBLICATIONS, INCLUDING COMMUNITY-BASED NEWS OUTLETS WABC, WNYC AND AM NEW YORK, AS WELL AS NATIONALLY DISTRIBUTED PUBLICATIONS, SUCH AS SCIENTIFIC AMERICAN, THE WEEK AND POPULAR SCIENCE. THE FOUNDATION ALSO ACTIVELY SEEKS INDIVIDUAL DONORS BY HOSTING CULTIVATION EVENTS AND BY HOLDING AN ANNUAL GALA FUNDRAISER. SINCE 2007, THE FOUNDATION HAS SENT OVER 2,000 INVITATIONS TO BETWEEN 15 AND 20 EVENTS ATTENDED BY AN AVERAGE OF 70 GUESTS PER EVENT. IN ADDITION, THE FOUNDATION HAS HOSTED ITS ANNUAL GALA BENEFIT SINCE 2009. TICKET PRICES TO THE GALA INCLUDE A PORTION ALLOCABLE TOWARDS A CHARITABLE CONTRIBUTION. IN EACH OF JUNE 2009, 2010 AND 2011, THE FOUNDATION SENT OVER 2,500 INVITATIONS, AND BETWEEN 840 AND 960 PEOPLE ATTENDED OR PURCHASED TICKETS; OTHERS CONTRIBUTED BUT WERE UNABLE TO ATTEND. IN JUNE 2012, ALTHOUGH THE EVENT WAS HELD IN A MUCH SMALLER VENUE, THE FOUNDATION SENT OVER 3,100 INVITATIONS, AND OVER 300 GUESTS ATTENDED; MANY OTHERS CONTRIBUTED BUT DID NOT ATTEND. THE AGGREGATE VALUE OF INDIVIDUAL CONTRIBUTIONS FROM THE GALA HAS MORE THAN DOUBLED SINCE 2009. IN ADDITION, DURING EACH FESTIVAL, THE FOUNDATION USES SPONSORED RECEPTIONS AND HOSPITALITY CENTERS TO WELCOME SUPPORTERS AND PARTNERS (WHO PROVIDE FINANCIAL OR IN-KIND SUPPORT) AND PARTICIPANTS (WHO VOLUNTEER THEIR TIME AND EXPERTISE) IN THE FESTIVAL. THESE EVENTS ALSO SERVE TO INTRODUCE THE FESTIVAL TO NEW PROSPECTIVE SUPPORTERS. TYPICALLY, THERE ARE THREE TO FOUR SUCH EVENTS EACH YEAR, AND THE CUMULATIVE NUMBER OF PEOPLE WHO ATTEND THESE EVENTS RANGES FROM 800 TO OVER 1,000 PEOPLE. THE FOUNDATION HAS ALSO SOUGHT SMALLER DONATIONS FROM MEMBERS OF THE GENERAL PUBLIC WHO ARE INTERESTED IN ATTENDING THE WORLD SCIENCE FESTIVAL AND/OR VISIT OUR WEBSITE. SINCE 2009, THE FOUNDATION HAS SOLICITED DONATIONS ON ITS WEBSITE THROUGH NETWORK FOR GOOD. FROM 2010-2012, THE FOUNDATION HAS ATTRACTED APPROXIMATELY $4,335.00 IN PUBLIC SUPPORT THROUGH NETWORK FOR GOOD. BEGINNING IN 2012, THE FOUNDATION PROVIDED AN OPPORTUNITY FOR TICKET BUYERS TO MAKE A DONATION TO THE FESTIVAL AS PART OF THEIR TICKET PURCHASE. THIS EFFORT RAISED ALMOST $2,800.00 IN ITS INITIAL YEAR AND WILL BE CONTINUED IN 2013. COMPOSITION OF THE BOARD: THE FOUNDATION'S BOARD OF DIRECTORS REPRESENTS THE WORLDS OF EDUCATION, THE ARTS, MEDIA, NON-PROFIT MANAGEMENT AND PHILANTHROPY. EACH DIRECTOR BRINGS A RANGE OF EXPERTISE AND VARYING PERSPECTIVES TO THE ORGANIZATION. ALL DIRECTORS HAVE BEEN EXCEEDINGLY GENEROUS WITH THEIR TIME AND EXPERTISE, BUT THE FOUNDATION DOES NOT RELY SOLELY ON ITS BOARD FOR MATERIAL FINANCIAL SUPPORT. TRACY DAY, ONE OF THE CO-FOUNDERS, BRINGS HER EXPERIENCE AS AN EXECUTIVE PRODUCER IN TELEVISION JOURNALISM TO ALL OF THE FESTIVAL'S PROGRAMMING. BRIAN GREENE, ALSO A CO-FOUNDER, IS A PHYSICIST, MATHEMATICIAN AND PROFESSOR AT COLUMBIA UNIVERSITY. BECAUSE OF THE EDUCATIONAL NATURE OF THE FOUNDATION'S MISSION AND ACTIVITIES, THE FOUNDATION HAS RECRUITED ADDITIONAL BOARD MEMBERS FROM A VARIETY OF INSTITUTIONS OF HIGHER LEARNING. THE PRESIDENTS OF COLUMBIA UNIVERSITY (LEE BOLLINGER) AND NEW YORK UNIVERSITY (JOHN SEXTON) EACH WERE EARLY SUPPORTERS OF THE FOUNDATION'S MISSION AND SERVED ON THE FOUNDATION'S BOARD OF DIRECTORS FROM 2006 - 2012 AND 2008 - 2009, RESPECTIVELY. GILLIAN SMALL, VICE CHANCELLOR FOR RESEARCH AT THE CITY UNIVERSITY OF NEW YORK AND AN ACCOMPLISHED SCIENTIST AND EDUCATOR, JOINED THE BOARD IN JANUARY 2012. ALAN ALDA, AN ACCLAIMED ACTOR, WRITER AND DIRECTOR, BRINGS A WEALTH OF EXPERTISE AND CONNECTIONS FROM THE ARTS TO THE FESTIVAL AND HAS APPEARED AT NUMEROUS FESTIVAL EVENTS AS A MODERATOR AND ACTOR. HE HAS BEEN A MEMBER OF THE BOARD OF DIRECTORS SINCE 2007. JUDITH COX HAS A BACKGROUND IN NON-PROFIT MANAGEMENT AND INTERNATIONAL PROJECTS, AND HAS BEEN ON THE BOARD SINCE 2006. ANN ZIFF, A MEMBER OF THE BOARD SINCE 2010, ALSO HAS SIGNIFICANT EXPERTISE IN NON-PROFIT MANAGEMENT AND FUNDRAISING FROM HER SERVICE ON SEVERAL NON-PROFIT BOARDS; WHILE MS. ZIFF AND HER FAMILY PROVIDE SIGNIFICANT FINANCIAL SUPPORT TO THE FOUNDATION, THEY ARE NOT THE FOUNDATION'S LARGEST DONORS. BROAD PUBLIC PARTICIPATION IN PROGRAMS: THE FOUNDATION'S EDUCATIONAL PROGRAMMING TARGETS A WORLDWIDE AUDIENCE OF ADULTS AND CHILDREN. MOST PROGRAMMING IS DESIGNED FOR NON-SCIENTISTS. WITH EACH YEAR, THE FOUNDATION'S PROGRAMS ATTRACT A LARGER PORTION OF THE GENERAL PUBLIC. ATTENDANCE AT THE WORLD SCIENCE FESTIVAL IN NEW YORK CITY (THE FOUNDATION'S ANNUAL LIVE EVENT SPANNING FIVE DAYS) HAS GROWN FROM 120,000 IN 2008 TO OVER 200,000 IN 2012. IN AN EFFORT TO REACH A BROADER PUBLIC, THE FOUNDATION BEGAN STREAMING SOME OF ITS FESTIVAL PROGRAMS VIA THE INTERNET IN 2011. DURING THE 2011 FESTIVAL, THE FOUNDATION STREAMED FIVE LIVE PROGRAMS TO 13,000 VIEWERS. DURING THE 2012 FESTIVAL, NINE LIVE PROGRAMS WERE STREAMED TO 42,500 VIEWERS. OVER TIME, THE FOUNDATION HAS DEDICATED INCREASED RESOURCES TO PRESENTING FOOTAGE FROM THE FESTIVAL, AS WELL AS NEW EDUCATIONAL MATERIAL, ON ITS WEBSITE, WWW.WORLDSCIENCEFESTIVAL.COM, AND THE PUBLIC HAS RESPONDED. FROM 2008 TO 2012, THE NUMBER OF VISITORS TO THE FOUNDATION'S WEBSITE HAS GROWN FROM OVER 25,000 (DURING THE FINAL QUARTER OF 2008, WHICH WAS THE YEAR THE FOUNDATION PRESENTED ITS FIRST LIVE FESTIVAL) TO OVER 1.5 MILLION FROM OVER 100 COUNTRIES. IN 2012, 30,000 PEOPLE OPTED IN TO JOIN THE FOUNDATION'S DIGITAL MAILING LIST, AND RECEIVED NEWSLETTERS, FESTIVAL PROGRAMMING ALERTS AND EARLY TICKET PURCHASING OPPORTUNITIES. THE FOUNDATION ALSO RELIES ON LARGE NUMBERS OF VOLUNTEERS DURING THE FESTIVAL. IN JUNE 2011, OVER 190 VOLUNTEERS DONATED THEIR TIME TO ENSURE A SUCCESSFUL EVENT. IN JUNE 2012, THE FESTIVAL ATTRACTED 300 VOLUNTEERS. CONTINUED TO SCHEDULE O. ADDITIONAL INFORMATION CAN BE FOUND ON SCHEDULE O REGARDING THE FACTS AND CIRCUMSTANCES TEST UNDER PUBLIC SUPPORT. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 382205 38220 343985 143273 51495 91778 14500 9428 5072 440835 5273220 4857673 415547 415547 6301058 793633 793633 5507425 -234205 -234205 5273220 5885511 793633 234205 1027838 4857673 0 4857673 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE FINANCIAL STATEMENTS USING A RECOGNITION THRESHOLD OF MORE LIKELY THAN NOT AS TO WHETHER THE UNCERTAINTY WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS BEEN MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD. THE FOUNDATION'S FEDERAL EXEMPT ORGANIZATION RETURNS ARE NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS PRIOR TO JUNE 30,2009. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING DIRECT COSTS INCLUDED IN EXPENSES IN AUDITED FINANCIAL STATEMENT -234,205. PART XIII, LINE 2D - OTHER ADJUSTMENTS: FUNRAISING DIRECT COSTS REPORTED ON LINE 8B, OF PART VIII 234,205. X 1 MK EVENT STUDIO 78 HERITAGE HILL ROAD SUITE B NEW CANAAN CT 06840 OVERSIGHT OF OPENING NIGHT GALA FUNDRAISER 0 491900 32738 459162 491900 32738 459162 NY OPENING NIGHT GALA 491900 468800 23100 65079 53065 5500 110561 491900 468800 23100 65079 53065 5500 110561 234205 -211105 EXPLANATION OF FUNDRAISING PAYMENTS SCHEDULE G, PART I, LINE 2B, COLUMN (V) MK EVENT STUDIO WAS HIRED TO PLAN, AND IMPLEMENT ALL ACTIVITIES RELATED TO THE OPENING NIGHT GALA X X X 0 0 0 0 0 0 0 0 0 TRACY DAY 268461 0 0 0 0 0 0 0 0 0 268461 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 BRIAN GREENE, CHAIRMAN OF THE BOARD, IS MARRIED TO TRACY DAY, CHIEF EXECUTIVE OFFICER AND BOARD SECRETARY. BRIAN GREENE, CHAIRMAN OF THE BOARD HAS A BUSINESS RELATIONSHIP WITH LEE BOLLINGER WHO IS A DIRECTOR OF THE SCIENCE FESTIVAL FOUNDATION. FORM 990, PART VI, SECTION A, LINE 8B DUE TO THE SIZE OF ITS BOARD, SCIENCE FESTIVAL FOUNDATION DOES NOT HAVE COMMITTEES. ALL MEETINGS OF THE FULL BOARD WERE DOCUMENTED. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING WITH THE IRS, THE DRAFT 990 IS REVIEWED INTERNALLY BY THE MANAGER OF FINANCE, OUTSIDE GENERAL COUNSEL AND PRESIDENT OF THE FOUNDATION. THEY DISCUSS ANY QUESTIONS OR COMMENTS WITH THE FOUNDATION'S OUTSIDE PREPARERS, PROVIDE SUGGESTED LANGUAGE WHERE APPROPRIATE AND REVIEW ANY REVISIONS MADE IN RESPONSE TO THEIR COMMENTS. ONCE A FINAL DRAFT IS READY, MANAGEMENT DISTRIBUTES IT TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION'S OUTSIDE GENERAL COUNSEL DISTRIBUTES THE CONFLICT OF INTEREST POLICY AND CONFLICT OF INTEREST QUESTIONNAIRE TO EACH OFFICER, DIRECTOR AND KEY EMPLOYEE ON AN ANNUAL BASIS, AND FOLLOWS UP WITH EACH INDIVIDUAL TO ENSURE THAT THE QUESTIONNAIRE HAS BEEN COMPLETED. EACH OFFICER, DIRECTOR AND KEY EMPLOYEE IS ASKED TO CERTIFY ANNUALLY THAT HE/SHE HAS REVIEWED THE FOUNDATION'S CONFLICT OF INTEREST POLICY AND HAS DISCLOSED ANY POTENTIAL OR ACTUAL CONFLICTS ON THE QUESTIONNAIRE. THE OUTSIDE GENERAL COUNSEL REVIEWS THE RESPONSES TO THE QUESTIONNAIRE TO DETERMINE IF THERE IS ANYTHING DISCLOSED THAT SHOULD BE BROUGHT TO THE ATTENTION OF THE BOARD. THE QUESTIONNAIRES ARE MAINTAINED WITH THE BOOKS AND RECORDS OF THE FOUNDATION. IN ADDITION TO FILLING OUT THE QUESTIONNAIRE, PURSUANT TO THE FOUNDATION'S POLICY, EACH OFFICER, DIRECTOR AND KEY EMPLOYEE IS REQUIRED TO ALERT THE OTHER MEMBERS OF THE BOARD IF A TRANSACTION OR FACT ARISES THAT COULD BE COVERED BY THE FOUNDATION'S POLICY AFTER THE INDIVIDUAL HAS COMPLETED HIS OR HER ANNUAL QUESTIONNAIRE. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE AND OFFICER COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE OUTSIDE GENERAL COUNSEL, MANAGER OF FINANCE AND PRESIDENT REVIEW AND COMPILE PUBLICLY AVAILABLE COMPENSATION INFORMATION FOR SIMILAR POSITIONS AT COMPARABLE ORGANIZATIONS, AS WELL AS COMPENSATION SURVEYS. THIS INFORMATION IS DISTRIBUTED AND DISCUSSED AT A MEETING OF THE BOARD OUT OF THE PRESENCE OF THE INDIVIDUAL WHOSE COMPENSATION IS BEING REVIEWED. AT THAT POINT IN THE MEETING, ANY REMAINING BOARD MEMBERS WHO HAVE AN INTEREST IN THE COMPENSATION (SUCH AS FAMILY MEMBERS OF THE EMPLOYEE OR OFFICER) ARE EXCUSED FROM THE MEETING. THE DISINTERESTED BOARD MEMBERS DETERMINE WHETHER THE PROPOSED COMPENSATION IS REASONABLE IN LIGHT OF THE COMPARABLES REVIEWED AND THE WORK BEING PERFORMED BY THE INDIVIDUAL IN QUESTION, AND VOTE ON THE COMPENSATION PACKAGE. THE DELIBERATION AND VOTE ON COMPENSATION ARE RECORDED IN THE MINUTES OF THE BOARD MEETING, WHICH ARE APPROVED BY THE DIRECTORS AT THE NEXT SCHEDULED BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS AUDITED FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND CERTIFICATE OF INCORPORATION AVAILABLE TO THE PUBLIC UPON REQUEST. CHIEF EXECUTIVE OFFICER'S COMPENSATION PART VII, LINE THE CHIEF EXECUTIVE OFFICER'S EARNINGS OF $268,461 FOR TRACY K. DAY INCLUDES AN ANNUAL SALARY OF $213,461 PLUS PAYMENT OF $55,000 AS PARTIAL PAYMENT FOR WORK PERFORMED IN 2006 THROUGH 2008 DURING THE FIRST YEARS OF OPERATIONS WHEN MS. DAY WORKED FULL-TIME WITHOUT ANY COMPENSATION. THE BALANCE DUE TO MS. DAY FOR COMPENSATION FOR THE 2006-2008 YEARS IS BEING BE PAID OUT OVER A FIVE YEAR PERIOD. LOSS ON FUNDRAISING EVENT PART VIII, LINE 8C IN THIS CURRENT FISCAL YEAR, THE ORGANIZATION IS SHOWING A NET LOSS FROM THE FUND RAISING EVENT AS THE FORM 990 HAS EXCLUDED $468,800 OF CONTRIBUTIONS THAT WERE RECEIVED SPECIFICALLY FOR THE FUNDRAISING EVENT. (SEE LINE 8A, PART VIII). THESE CONTRIBUTIONS ARE SHOWN ON LINE 1C, PART VIII. IF THESE CONTRIBUTIONS WERE INCLUDED WITH THE FUNDRAISING REVENUE SHOWN ON LINE 8A, THE NET INCOME FROM THE EVENT WOULD BE $257,695. SIGNIFICANT EXPENSE ITEMS INCLUDED IN FESTIVAL PRODUCTION COSTS PART IX, LINE 24A SIGNIFICANT EXPENSES WHICH ARE PART OF THE FESTIVAL PRODUCTION COSTS ON LINE 24A, PART IX, INCLUDE VIDEO TAPING, VIDEO PRODUCTION, VENUE RENTALS, VENUE PRODUCERS/MANAGERS, SET SCENERY AND VENUE OPERATIONS LABOR. AUDITOR SELECTION AND OVERSIGHT PROCESS PART XII, LINE 2 C THE OVERSIGHT PROCESS AND THE SELECTION PROCESS THAT THE ORGANIZATION USES FOR THE OVERSIGHT OF ITS AUDITORS HAS NOT CHANGED FROM THE PRIOR YEAR. OVERSIGHT OF THE AUDIT IS DONE BY THE ENTIRE BOARD OF DIRECTORS. FACTS AND CIRCUMSTANCES (CONTINUED) SCHEDULE A, PART IV (CONTINUED FROM SCHEDULE A, PART IV) EXPERT AND GOVERNMENT PARTICIPATION IN PROGRAMS: HUNDREDS OF WORLD FAMOUS, AWARD-WINNING AND HIGHLY-RESPECTED SCIENTISTS, ARTISTS, WRITERS, JOURNALISTS AND POLICY-MAKERS FROM ALL OVER THE WORLD HAVE PARTICIPATED IN THE FOUNDATION'S ACTIVITIES. EACH PROGRAM PARTICIPANT IS CAREFULLY PICKED BY THE FOUNDATION'S PRODUCERS AS AN EXPERT IN HIS OR HER FIELD, AND EACH PARTICIPANT DONATES HIS OR HER TIME. FOR THE 2012 FESTIVAL, 165 PARTICIPANTS CAME TO NEW YORK FROM ALL OVER THE U.S. AND ABROAD TO BE A PART OF THE FOUNDATION'S LIVE EVENT. TRANSACTION WITH INTERESTED PARTIES ADDITIONAL INFORMATION FOR PAGE 4, LINE 28A THE SCIENCE FESTIVAL FOUNDATION(SFF) COLLABORATED WITH THE NON-PROFIT SOUTHBANK CENTRE(LONDON) TO COMMISSION AND PRODUCE AN ORIGINAL MULTI-MEDIA WORK BASED ON A CHILDREN'S BOOK WRITTEN BY BRIAN GREENE, WHO IS THE CHAIRMAN OF THE BOARD OF SFF AND THE SPOUSE OF TRACY DAY, EXECUTIVE DIRECTOR OF SFF. SOUTHBANK CENTRE TOOK THE LEAD IN NEGOTIATING ALL FEES AND ARRANGEMENTS WITH ALL OF THE ARTISTS INVOLVED. MR. GREENE LICENSED THE UNDERLYING RIGHTS TO THE BOOK, AND CO-WROTE THE NARRATION FOR THE WORK. HE WAS PAID BY THE SOUTHBANK CENTRE FOR THE LICENSE AND HIS WORK ON THE NARRATION, AND SFF WAS RESPONSIBLE FOR 50% OF THOSE FEES. IN EACH INSTANCE, SFF'S SHARE OF THE FEES WAS UNDER $10,000. THE SFF BOARD OF DIRECTORS REVIEWED AND APPROVED THE TRANSACTIONS IN ACCORDANCE WITH ITS CONFLICT OF INTEREST POLICY. THE FEES PAID TO ALL ARTISTS, INCLUDING MR. GREENE, ENTITLED THE CO-COMMISSIONERS TO PRESENT A CERTAIN NUMBER OF PUBLIC PERFORMANCES OF THE WORK IN THE U.S. AND ABROAD. THE FINAL PUBLIC PERFORMANCE OF THE WORK COVERED BY THE SOUTHBANK CENTRE AGREEMENT WAS PRESENTED IN NEW YORK CITY ON JUNE 2, 2012.