2013-05-07T11:46:10-05:00 2012-06-30 042442519 EDELSTEIN AND COMPANY LLP 160 FEDERAL STREET 9TH FLOOR BOSTON MA 021101772 990 2011-07-01 042103993 THE CHILDRENS MUSEUM CHIL 6174266500 308 CONGRESS STREET BOSTON MA 02210 AMY AUERBACH 6174266500 2013-04-29 1 ALFONSO PERILLO P00950491 6172276161 2013-04-29 2011 2016-03-07 17:11:31Z AMY AUERBACH 308 CONGRESS STREET BOSTON MA 02210 10816548 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. 22 22 139 5 -16550 -16550 1952420 3659954 4020706 4443238 734649 563349 161167 158929 6868942 8825470 0 0 0 0 2759789 3015686 0 0 352998 5724869 5243943 8484658 8259629 -1615716 565841 65715577 64698588 20973156 19889549 44742421 44809039 X SEE SCHEDULE O - FORM 990 PART I LINE 1 0 0 2530973 2841239 VISITOR PROGRAMS OFFER INFORMAL AND FORMAL LEARNING EXPERIENCES FOR FAMILIES, SCHOOL, AFTER-SCHOOL AND COMMUNITY GROUPS. 2095093 58582 EDUCATION PROGRAMS INCLUDE SIGNIFICANT FOCUS ON PRE-SCHOOL, EARLY CHILDHOOD EDUCATION AND SCHOOL READINESS AS WELL AS "STEM" PROGRAMS FOR OLDER KIDS. 1720265 140360 EXHIBITS PROVIDE INNOVATIVE, HANDS-ON, EDUCATIONAL AND ENGAGING ACTIVITIES FOCUSED ON SCIENCE AND MATH, CULTURE, ENVIRONMENTAL AWARENESS, HEALTH AND THE ARTS. 358721 1403057 MEMBERSHIPS 358721 1403057 6705052 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 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 0 1 83 0 1 139 1 1 1 0 0 0 0 1 1 0 0 0 0 X 22 22 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 JONATHAN L ROUNDS 1.50 X X 0 0 0 MICHAEL W YOGMAN 3.80 X X 0 0 0 PATRICIA A PARCELLIN 1.80 X X 0 0 0 ANNE M BLODGET 0.30 X X 0 0 0 CHRISTOPHER C THOMPSON 0.50 X X 0 0 0 KAREN G BAROODY 0.40 X 0 0 0 ROGER S BERKOWITZ 0.40 X 0 0 0 MARTIN BISCHOFF 0.40 X 0 0 0 LINDA K CARLISLE 0.50 X 0 0 0 JOSEPH CHOW 0.40 X 0 0 0 DONALD CORNUET 0.40 X 0 0 0 NIRAV DAGLI 0.50 X 0 0 0 MARK L DINAPOLI 0.50 X 0 0 0 DEBORAH JOELSON 0.50 X 0 0 0 ROBIN G JONES 0.40 X 0 0 0 MICHAEL B KEATING 0.40 X 0 0 0 STEPHEN T KUNIAN 0.40 X 0 0 0 NANCY MAY 0.40 X 0 0 0 THOMAS MCCROREY 0.40 X 0 0 0 YASMIN NAMINI 0.40 X 0 0 0 BHASKER NATARAJAN 0.40 X 0 0 0 ERICA G PAPPENDICK 0.40 X 0 0 0 SYLVIA STEVENS-EDOUARD 0.50 X 0 0 0 ANTHONY BORDON 0.40 X 0 0 0 WENDY FISCHMAN 0.40 X 0 0 0 JANE POST 0.40 X 0 0 0 JAMES ROONEY 0.40 X 0 0 0 CHRISTOPHER YENS 0.40 X 0 0 0 CAROLE CHARNOW 35.00 X 225000 0 487 AMY AUERBACH 35.00 X 118667 0 9915 PATRICIA STUBEL 35.00 X 22005 0 3441 BRENNA KELLY 35.00 X 0 0 0 365672 0 13843 2 0 1 0 CB RICHARD ELLISNE PARTNERS 111 HUNTINGTON AVE 12TH FLOOR BOSTON MA 02199 PROPERTY MANAGEMENT 386520 ACP CLEANING INC PO BOX 2411 WOBURN MA 01888 CLEANING SERVICES 295896 SECURITAS SECURITY SERVICES US 8 WINTER STREET BOSTON MA 02108 SECURITY SERVICES 222362 CUSTOM COMPUTER SPECIALISTS INC 70 SUFFOLK COURT HAUPPAUGE NY 11788 IT SERVICES 190706 ALMIGHTY LLC 300 WESTERN AVENUE FLOOR 2 BOSTON MA 02134 WEBSITE DESIGN 118249 8 138000 799159 2722795 40732 3659954 ADMISSIONS 900099 2668777 2668777 MEMBERSHIPS 900099 1403057 1403057 PROGRAM FEES 900099 253074 247250 5824 TRAVELING EXHIBITS 900099 118330 118330 4443238 167130 167130 1916853 1926161 -9308 -9308 -22374 13066 429074 32855 396219 396219 396219 67887 138000 32062 35825 35825 ANCILLARY SERVICES 900099 132412 132412 132412 8825470 4569826 -16550 612240 389886 333453 56433 2171476 1741888 285491 144097 33691 25975 7716 245330 167310 55087 22933 175303 127431 39058 8814 43315 233 42234 848 40000 40000 2145 2145 400486 306463 50295 43728 322122 321913 209 197775 125457 61090 11228 194909 30591 152003 12315 1918823 1664564 245882 8377 28822 17621 9085 2116 22525 10921 10612 992 12785 10142 1815 828 1878483 1737776 135972 4735 11976 6847 5129 MATERIALS AND SUPPLIES 129242 125256 2258 1728 BANK AND OTHER FEES 100088 90586 5813 3689 EQUIPMENT RENTAL- REPAI 28852 28424 313 115 OVERHEAD ALLOCATION -88405 165654 -284081 30022 8259629 6705052 1201579 352998 2686674 4193120 2706952 2439051 251447 118534 267735 161893 62249963 19485051 44453021 42764912 14698005 14343059 651743 678019 65715577 64698588 759643 1139781 19270000 18000000 242804 252030 700709 497738 20973156 19889549 X 33484787 34162578 7192438 6556200 4065196 4090261 44742421 44809039 65715577 64698588 X 565841 -499223 X X 0 1 1 X 1 1 X 7841656 5720528 1975024 1952420 3659954 21149582 4599781 3962855 3918114 4335750 4637713 21454213 12441437 9683383 5893138 6288170 8297667 42603795 452098 244210 114203 290959 106535 1208005 0 452098 244210 114203 290959 106535 1208005 41395790 2130055 1935674 2051503 2194353 2083983 10395568 2130055 1935674 2051503 2194353 2083983 10395568 14571492 11619057 7944641 8482523 10381650 52999363 0.78110 0.78640 0.19610 0.18470 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 16323304 2296125 76659 3132834 15563254 16967657 820770 2426583 3891706 16323304 18690397 639174 1886241 4248155 16967657 27086175 3355163 -1957191 9793750 18690397 0.31590 0.42130 0.26280 0 0 3331193 3331193 45139863 11328751 33811112 2401313 1135806 1265507 11377594 7020494 4357100 42764912 DERIVATIVE FINANCIAL INSTRUMENTS 497738 497738 8825470 8259629 565841 -484231 -14992 -499223 66618 10322690 -484231 2700 1978751 1497220 8825470 0 8825470 10256072 2700 1993743 1996443 8259629 0 8259629 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. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE MUSEUM HAS EVALUATED THE TAX POSITIONS TAKEN ON RETURNS FOR OPEN YEARS AND THOSE EXPECTED TO BE TAKEN ON RETURNS FOR JUNE 30, 2012. 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, 2009 ARE OPEN TO EXAMINATION. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED GAIN ON DERIVATIVE INSTRUMENTS 202,972. BOOK-TAX RENTAL INCOME ADJUSTMENT PER IRC 467 17,556. BAD DEBT FROM UNCOLLECTIBLE PLEDGES -35,520. LOSS ON UNCOLLECTIBLE PLEDGE -200,000. TOTAL TO SCHEDULE D, PART XI, LINE 8: -14,992. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 32,062. RENTAL EXPENSES 1,926,161. BOOK-TAX RENTAL INCOME ADJUSTMENT PER IRC 467 17,556. UNREALIZED GAIN ON DERIVATIVE INSTRUMENTS 202,972. LOSS ON UNCOLLECTIBLE PLEDGE -200,000. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSES 32,062. RENTAL EXPENSES 1,926,161. BAD DEBT FROM UNCOLLECTIBLE PLEDGES 35,520. GALA 183501 115614 67887 5746 25722 BIG APPLE CIRCUS 22386 22386 254 340 205887 138000 67887 6000 26062 32062 35825 0 0 0 0 0 0 0 0 0 CAROLE CHARNOW 225000 0 0 0 0 0 0 0 487 0 225487 0 0 0 MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 043431181 57583RGQ2 2006-09-25 SEE SCHEDULE K, PAGE 2, PART V 0 0 0 6921695 30000000 396523 22681782 2007 1 0 1 1 0 0 0 0 1 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 2,3,4,5,6 ARBITRAGE THE MUSEUM HAS A SECOND QUALIFIED HEDGE. 2- YES 3A- YES 3B- CITIZENS BANK 3C- 5 YEARS 3D- NO 3E- NO 4A- NO 4B- N/A 4C- N/A 4D- N/A 5- NO 6- NO X 7 40732 MARKET QUOTATION 0 1 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/OR THE 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 OR CHIEF EXECUTIVE OFFICER. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -484,231. UNREALIZED GAIN ON DERIVATIVE INSTRUMENTS 202,972. BOOK-TAX RENTAL INCOME ADJUSTMENT PER IRC 467 17,556. BAD DEBT FROM UNCOLLECTIBLE PLEDGES -35,520. LOSS ON UNCOLLECTIBLE PLEDGE -200,000. TOTAL TO FORM 990, PART XI, LINE 5: -499,223. AUDIT COMMITTEE RESPONSIBILITY 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.