2011-11-09T20:06:02-05:00 2010-12-31 GRANT THORNTON LLP 175 W JACKSON BLVD STE 2000 CHICAGO IL 60604 990 2010-01-01 362167797 MUSEUM OF SCIENCE AND INDUSTRY MUSE 7736849844 57TH STREET AND LAKE SHORE DRIVE CHICAGO IL 606372093 ROBERT H FISHER 2011-11-08 DAN ROMANO 3128560200 2010 2016-02-24 21:20:13Z DAVID MOSENA 57th Street and Lake Shore Dr Chicago IL 606372093 71137401 false 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. 103 100 416 537 1059160 -66223 32681787 32691579 18451282 15503364 1648795 4829479 4108792 3826847 56890656 56851269 0 0 0 0 17235846 17628561 32850 97563 5454600 44028692 41830558 61297388 59556682 -4406732 -2705413 332519967 317918092 110284898 92903906 222235069 225014186 X One of the largest science museums in the world, the Museum of Science and Industry, Chicago (MSI) is home to more than 35,000 artifacts and nearly 14 acres of hands-on exhibits and experiences designed to spark scientific inquiry and creativity. MSI opened its doors in 1933 as one of the first hands-on interactive museums in the world, and it has welcomed almost 180 million guests since then with the mission to inspire the inventive genius in everyone. In line with MSI's mission is its current vision: to insure and motivate children to achieve their full potential in science, technology, medicine and engineering. More than 300,000 students make up the more than 1.5 million guests that visit annually. Through its Center for Advancement of Science Education (CASE), MSI reaches thousands of students and teachers each year through special programs, learning labs, educator courses and more. false false 23673107 0 8492626 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, medicine 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. 7579515 0 2552481 Public Programs and Exhibits. The Museum of Science and Industry (MSI) features groundbreaking exhibits and hands-on experiences that inspire guests to learn more and leave inspired. Key Museum exhibits include Science Storms, which uses large recreations of natural phenomena to teach basic scientific principles; YOU! The Experience, an interactive exhibit examining human health and celebrating the experience of life itself; the U-505 Submarine, the only German Submarine captured in World War II; Earth Revealed, which teaches about the forces at work on our planet in a facilitated experience; Fast Forward, an exhibit that demonstrates the cutting-edge work being done today in the areas of science, medicine and technology; and Smart Home: Green + Wired, a fully functioning eco-friendly home built on the Museum's grounds. Public programming reinforces key themes and concepts in a fun and enriching way. It includes not only facilitated demonstrations in exhibit areas, but also guest lectures and presentations by key scientists, astronauts, historians, architects and more. 4667582 0 349005 Educational Programs and Activities. 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. 2058576 0 4262204 37978780 true true false true false false true false true true true false false false true true false false false true false false true true true false false false true true false false false false false false false false false true true false false false false false false false false false true 142 0 false 416 true true true true CJ false false false true true false false false false X 103 100 true false false false false false false true true false false true true true true true true true true false IL MI WI X X ROBERT H FISHER 7739473747 57TH STREET AND LAKE SHORE DRIVE CHICAGO IL 606372093 X David Mosena 35.0 X X 563602 0 40821 Jeffrey S Aronin 1.0 X 0 0 0 William C Bartholomay 1.0 X 0 0 0 Michael J Birck 1.0 X 0 0 0 Charles K Bobrinskoy 1.0 X 0 0 0 Barbara L Bowles CFA 1.0 X 0 0 0 Allan E Bulley Jr 1.0 X 0 0 0 Martin Cabrera Jr 1.0 X 0 0 0 John A Canning Jr 1.0 X 0 0 0 Jay W Christopher 1.0 X 0 0 0 Alison L Chung 1.0 X 0 0 0 Frank M Clark 1.0 X 0 0 0 James S Crown 1.0 X 0 0 0 Kent P Dauten 1.0 X 0 0 0 Christa Davies 1.0 X 0 0 0 Deborah L DeHaas 1.0 X 0 0 0 William J Devers Jr 1.0 X 0 0 0 David E Donovan 1.0 X 0 0 0 James J Drury III 1.0 X 0 0 0 W James Farrell 1.0 X 0 0 0 Michael W Ferro Jr 1.0 X 0 0 0 Dennis J FitzSimons 1.0 X 0 0 0 William C Foote 1.0 X 0 0 0 James J Fuentes 1.0 X 0 0 0 Ronald J Gidwitz 1.0 X 0 0 0 James T Glerum Jr 1.0 X 0 0 0 William M Goodyear 1.0 X 0 0 0 James A Gordon 1.0 X 0 0 0 James A Gray 1.0 X 0 0 0 Jay L Henderson 1.0 X 0 0 0 Roberto R Herencia 1.0 X 0 0 0 Betsy D Holden 1.0 X 0 0 0 Richard M Jaffee 1.0 X 0 0 0 Edward L Kaplan 1.0 X 0 0 0 John P Keller 1.0 X 0 0 0 Lawrence D Kingsley 1.0 X 0 0 0 Michael P Krasny 1.0 X 0 0 0 Frederick A Krehbiel 1.0 X 0 0 0 Dr Leon M Lederman 1.0 X 0 0 0 Richard H Lenny 1.0 X 0 0 0 Russell E Levine 1.0 X 0 0 0 Edward M Liddy 1.0 X 0 0 0 H John Livingston 1.0 X 0 0 0 Barry L MacLean 1.0 X 0 0 0 Timothy P Maloney 1.0 X 0 0 0 Dr Walter E Massey 1.0 X 0 0 0 Lamar HMcKay 1.0 X 0 0 0 Andrew J McKenna 1.0 X 0 0 0 Robert S Morrison 1.0 X 0 0 0 Robert S Murley 1.0 X 0 0 0 Terry E Newman 1.0 X 0 0 0 William A Osborn 1.0 X 0 0 0 Robert J Pickens 1.0 X 0 0 0 Scott A Rafferty 1.0 X 0 0 0 J Christopher Reyes 1.0 X 0 0 0 Larry D Richman 1.0 X 0 0 0 Jesse H Ruiz 1.0 X 0 0 0 James T Ryan 1.0 X 0 0 0 Michael J Sacks 1.0 X 0 0 0 John F Sandner 1.0 X 0 0 0 Ronald M Saslow 1.0 X 0 0 0 Rouhy J Shalabi 1.0 X 0 0 0 Alejandro Silva 1.0 X 0 0 0 James A Skinner 1.0 X 0 0 0 Melody A Spann-Cooper 1.0 X 0 0 0 David B Speer 1.0 X 0 0 0 Robert Y Sperling 1.0 X 0 0 0 Glenn F Tilton 1.0 X 0 0 0 Dr John J Tracy 1.0 X 0 0 0 Arthur R Velasquez 1.0 X 0 0 0 David J Vitale 1.0 X 0 0 0 Ralph Wanger 1.0 X 0 0 0 Miles D White 1.0 X 0 0 0 Ann C Williams 1.0 X 0 0 0 Thomas J Wilson 1.0 X 0 0 0 David F Zucker 1.0 X 0 0 0 Neal S Zucker 1.0 X 0 0 0 Rhett W Butler 1.0 X 0 0 0 Peter R Carney 1.0 X 0 0 0 Frank W Considine 1.0 X 0 0 0 Stanton R Cook 1.0 X 0 0 0 Lester Crown 1.0 X 0 0 0 Dr Victor J Danilov 1.0 X 0 0 0 Robert J Darnall 1.0 X 0 0 0 James C Dowdle 1.0 X 0 0 0 Jeres D Fluno 1.0 X 0 0 0 David W Grainger 1.0 X 0 0 0 J Ira Harris 1.0 X 0 0 0 James R Kackley 1.0 X 0 0 0 Dr James S Kahn 1.0 X 0 0 0 Richard A Lenon 1.0 X 0 0 0 Charles S Locke 1.0 X 0 0 0 Frank W Luerssen 1.0 X 0 0 0 Dr Thomas L Martin Jr 1.0 X 0 0 0 John D Nichols 1.0 X 0 0 0 James J O'Connor 1.0 X 0 0 0 Cindy Pritzker 1.0 X 0 0 0 Walter R Peirson 1.0 X 0 0 0 Louis A Simpson 1.0 X 0 0 0 S Jay Stewart 1.0 X 0 0 0 Eugene A Tracy 1.0 X 0 0 0 Dr Arnold R Weber 1.0 X 0 0 0 William L Weiss 1.0 X 0 0 0 Robert Fisher 35.0 X 217003 0 29730 Kurt Haunfelner 35.0 X 220760 0 21294 Robert J Gallas Jr 35.0 X 175508 0 13853 Andrea Ingram 35.0 X 196939 0 21485 Shannon Alexander 35.0 X 176515 0 17773 Eileen Cabrera 35.0 X 84201 0 16247 Robert Shafis 35.0 X 133548 0 23533 Katherine Garant 35.0 X 122030 0 25429 David Hanses 35.0 X 129469 0 16121 Duncan Harris 35.0 X 139706 0 11275 Jennifer Schmidt 35.0 X 146692 0 0 2305973 0 237561 34 false true false Hoffman York 142 E Ontario St CHICAGO IL 60611 Advertising 2641263 Eurest Services 4700 N Oketo HARWOOD HEIGHTS IL 60706 Cleaning Services 1486428 Allied Security LLC PO Box 828854 PHILADELPHIA PA 19182 Security 971911 Sodexo American LLC 57th and Lakeshore Drive CHICAGO IL 60637 Catering 898365 Jones Lang LaSalle Americas Inc PO Box 95661 CHICAGO IL 60694 Facilities Mgmt 815721 24 1365776 2141350 6790749 22393704 7570020 32691579 GENERAL ADMISSIONS 900099 8492626 8492626 U-505 PERMANENT EXHIBIT 900099 1247574 1247574 OMNIMAX THEATER 900099 1426363 1426363 MUSEUM STORE COMMISSIONS 900099 877045 877045 SPECIAL EXHIBITS 900099 947908 947908 2511848 2511848 15503364 2405226 2405226 0 0 602790 464281 138509 138509 392248 -253739 14697924 307998 12581669 0 2116255 307998 2424253 2424253 174224 2141350 829868 -655644 -655644 43409 38909 4500 4500 613601 371405 242196 2395 270570 -30769 PARKING PASS AND OTHER GUEST SERVICES REVENUE 900099 2143950 65375 2078575 FOOD COURT 722210 969048 969048 SPONSORSHIP REVENUES 900004 451000 451000 533288 85182 396342 51764 4097286 56851269 15656316 1059160 7444214 0 0 0 0 1634528 440350 788407 405771 0 12152102 7813732 3467212 871158 413304 281478 103203 28623 2103088 1382324 565427 155337 1325539 902749 330990 91800 851186 746641 104545 207501 33425 174076 122640 122640 106670 106670 97563 97563 850905 850905 2532375 1931647 591553 9175 4109687 60380 3992506 56801 1616083 849860 324256 441967 1452708 627850 813848 11010 0 1613775 1239066 374709 258495 174919 76066 7510 0 0 790473 790473 0 15566687 15566687 300925 300925 EDUCATION PROGRAMS 3216157 3203314 12843 CAPITAL CAMPAIGN 2683766 2683766 BANK FEES/CREDIT CARD FEES 1624214 618 1623596 EXHIBITS 889629 866020 23609 FILM RENTAL 674496 543837 130659 2362186 1313883 704356 343947 59556682 37978780 16123302 5454600 460605 2043395 17714288 6855125 36758546 33094380 2277561 2470790 514761 421301 400305 853616 354992439 164131795 199463050 190860644 32371323 54060326 41171114 25973893 1388414 1284622 332519967 317918092 16404193 8463948 2542795 2119471 25807157 16800000 65530753 65520487 110284898 92903906 X 145157133 164201721 71592936 55327465 5485000 5485000 222235069 225014186 332519967 317918092 X -2705413 5484530 X false true true X false X 36564877 51297359 51192090 35056094 46625042 220735462 36564877 51297359 51192090 35056094 46625042 220735462 38210306 182525156 4340960 3333204 2335610 3746287 2405226 16161287 901395 3610330 2953307 3681766 3918577 15065375 251962124 85431328 0.72442 0.88671 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 231491 false false 231491 Description of Lobbying Form 990, Schedule C, Part II-B Beacon Consulting Group, Inc. provides government relations consulting services to the Museum of Science and Industry. The objective of these services is to assist MSI in securing federal funding to support MSI's priorities. Capstone National Partners provides the Museum of Science and Industry with strategic counsel, government affairs and lobbying services. X true 5514447 0 599415 0 268730 0 5845132 4597491 0 1604030 687074 0 5514447 985000 5000000 -1330674 0 56835 0 4597491 0.00000 1.00000 0.00000 false false 0 134534296 34240185 100294111 6759243 5424162 1335081 213698900 124467447 89231453 190860645 0 0 0 56851269 59556682 -2705413 5057890 426640 5484530 2779117 63589722 5057890 595794 1935674 7589358 56000364 850905 850905 56851269 60810605 169154 1935674 2104828 58705777 850905 850905 59556682 Collections Not Reported on Book Form 990, Schedule D, 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 temporarily or permanently restricted net assets 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. Collections of Art Form 990, Schedule D, 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. Endowment Funds Form 990, Schedule D, 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. FIN 48 Form 990, Schedule D, Part X, Line 2 The Financial Accounting Standards Board ("FASB") issued guidance that requires tax effects from an uncertain tax position 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. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the more-likely-than-not threshold, the largest amount of tax benefit that is greater than 50% likely to be recognized upon ultimate settlement with the taxing authority is recorded. The museum is exempt from income tax under IRC section 501(c)(3), though it is subject to tax on income unrelated to its exempt purposes unless that income is otherwise excluded by the IRC. There are no tax positions for which a material change in any unrecognized tax benefit liability is reasonably possible in the next 12 months. There is no interest or penalties recognized in the income statement or balance sheet. The tax years ending 2007, 2008 and 2009 are still open to audit for both federal and state purposes. This guidance did not have any impact on the museum's financial statements. Other revenue included on books BUT NOT ON RETURN Form 990, Schedule D, Part XII, Line 2d Special Events Expenses $829,868 Rental Expenses $464,281 Cost of Goods Sold $371,405 Minimum Pension Liability $270,120 ------------- Total $1,935,674 Other Expenses Included on Books but not on Return Form 990, Schedule D, Part XIII, Line 2d Gaming Activities Expense $829,868 Rental Expenses $464,281 Cost of Goods Sold $371,405 Minimum Pension Liability $270,120 ------------- Total $1,935,674 Central America and the Caribbean 0 0 Investments 0 0 0 0 0 0 0 false false false true false false X X X X X X X true Comnet Marketing Fundraising Membership false 85130 38985 46145 Artsmarketing Services Fundraising Membership false 28228 58579 -30351 113358 97564 15794 IL MI WI Black Creat 685663 646413 39250 568626 Columbian Ball 1792874 1657900 134974 261242 0 2478537 2304313 174224 829868 829868 -655644 43409 0 38909 false 43409 0 38909 38909 4500 IL true false true false 1.00000 0.00000 Octavia Hooks 57th Street and Lake Shore Drive Chicago IL 60637 false Octavia Hooks - Manager of Communit 66134 Oversees the raffles X false Fundraising Agreements Form 990, Schedule G, Part I, Line 2b MSI CONTRACTS WITH COMNET TO DO THE FOLLOWING: DESIGN PROGRAM, WRITE THE SCRIPT, SEND A COPY OF THE SCRIPT TO THE MSI FOR APPROVAL, TRAIN TELEPHONE SALES REPRESENTATIVES ON PROGRAM, CALL PROSPECTS/MEMBERS AND SOLICIT/RENEW MEMBERSHIPS/PERFORM QUALITY CONTROL MONITORING OF SAMPLE CALLS AS THEY OCCUR, TRANSMIT A "DAILY REPORT COVERSHEET" WITH A RECAP OF PREVIOUS DAYS CALLING TO MSI DAILY, SEND HARD COPIES OF DUES PLEDGED BY CERTIFIED MAIL TO MSI SEMI-MONTHLY WITH THE COMNET INVOICE, AND PROVIDE MSI WITH THE FINAL RESULT FOR ALL CALLING RECORDS AT THE END OF THE CALLING PROGRAM. COMNET IS IN CONTROL OF DUES THAT ARE RAISED THROUGH THEIR FUNDRAISING SERVICES. COMNET IS RESPONSIBLE FOR MAILING/EMAILING ALL PLEDGE FORMS AND DUES INVOICES. MSI contracts with Artsmarketing to do the following: write the script and training materials to be used for the capital campaign. Artsmarketing will also devise a list of preselected donor prospects (lead calling matrix) and schedule based on prioritization of the matrix, send MSI a daily report listing all the pledges produced the previous day and the corresponding individual pledge forms, and provide MSI with the details of the transactions for MSI to perform all credit card authorizations and send donors follow-up materials such as thank you letters. Artsmarketing is responsible for handling follow-up calls regarding donor payments. Artsmarketing will invoice for fees earned. X false true X X X X false true false false false false false false false David Mosena 401475 0 12532 0 149595 0 19600 0 21221 0 604423 0 0 0 Robert Fisher 210409 0 6594 0 0 0 14367 0 15363 0 246733 0 0 0 Kurt Haunfelner 214166 0 6594 0 0 0 11130 0 10164 0 242054 0 0 0 Robert J Gallas Jr 171817 0 3691 0 0 0 13834 0 19 0 189361 0 0 0 Andrea Ingram 191072 0 5867 0 0 0 15361 0 6124 0 218424 0 0 0 Shannon Alexander 171100 0 5415 0 0 0 12754 0 5019 0 194288 0 0 0 Robert Shafis 129504 0 4044 0 0 0 8151 0 15382 0 157081 0 0 0 Duncan Harris 136066 0 3640 0 0 0 11275 0 0 0 150981 0 0 0 Additional Items Form 990, Schedule J, Part I, Line 1a The Museum is paying the tax on deferred compensation payments accrued to the benefit of the Museum's President. Amounts paid are reported as taxable income on Form W-2 and disclosed on the Form 990. Written Policy regarding Payment or Reimbursement Form 990, Schedule J, Part I, Line 1b No Formal written policy regarding the President's accruals of supplemental retirement benefit plans is in place because it is not a formal company-wide policy. However, the details of the reimbursement are in his employment contract. Supplemental nonqualified retirement plan Form 990, Schedule J, Part I, Line 4B David Mosena, President, Receives accrual of supplemental retirement plan benefit in the amount of $147,220. Non-Fixed Payments Form 990, Part I, Line 7 The Compensation Committee reviewed and approved bonuses for the President, ($75,000); the VP's, ($10,000); and the Directors ($2,500); with the exception of one VP, who received $15,000 and one Director who received $10,000 due to their extraordinary work for the capital campaign. All of these payments were accrued in 2010, but paid in 2011. In addition to these payments, all employees received a bonus of 3% of their 2009 wages. This was accrued in 2009, but paid in 2010. None of these bonus amounts are based on the organization's net earnings. IFA SERIES 2009A-D 861091967 45200FJ91 2009-12-17 64000000 Construction, Exhibits false false false 64000000 62937702 429298 633000 true false true true false false false false false 0.00000 0.00000 0.00000 true false true false false false true David E Donovan Trustee 1037359 Bond/LOC Interest/Fees false David E Donovan Trustee 518794 Corporate Credit Card Payments false Timothy P Maloney Trustee 317659 Bond Interest/LC Commission false X 52 7400864 COST/SELLING PRICE X Black Creativity Raffle 28 71533 Cost/Selling Price X Columbian Ball Auction 7 22484 Cost/Selling Price X Black Hawk Tickets 1 3028 Cost/Selling Price X Marketing Services 3 8873 Cost/Selling Price X Smart Home 24 63238 Cost/Selling Price false true true THIRD PARTY SCHEDULE M, PART I, LINE 32B A third party is designated to receive non-cash securities from contributors. Upon receipt of the securities, the third party subsequently sells securities on behalf of the Museum. The third party deposits proceeds from the sale of non-cash securities into the Museum's short term investment account. Other Program Service Accomplishments FORM 990, PART III, LINE 4d Ancillary Services represent various guest services that enhance the guest experience. These include the Omnimax theater, Museum Store, food services and parking services. W-2G Compliance Form 990, Part V, Line 1c The Museum occasionally holds raffles at special events for which it has attempted, in good faith, to obtain social security numbers from the winners in order to issue a Form W-2G for those prizes that may require such reporting. For calendar year 2011, the Museum has begun this process and hopes to issue such forms by their due date in 2012. In addition, the Museum has instituted a policy that requires all information to be collected from prize winners prior to turning over the prizes to them so the Museum may comply with the requirements more easily. Relationships Between Board Members Form 990, Part VI- Section A, Line 2 Michael Birck and Frederick Krehbiel both serve on a board outside of the Museum. Frank Clark and Jesse Ruiz are both officers and employees of the same organization outside of the Museum. James S. Crown and Lester Crown are members of the same family. Kent P. Dauten, a trustee, has business relationships with Larry Richman and John Canning. Christa Davies is an officer of an organization outside of the Museum where Andrew McKenna and Robert Morrison both serve on a board. William J. Devers, Jr. and Michael Ferro both serve on a board outside of the Museum. William J. Devers, Jr. and Andrew McKenna both serve on a board outside of the Museum. David Donovan and James S. Crown both serve as directors on a board outside of the Museum. David W. Grainger and James T. Ryan are both officers and employees of an organization doing business with the Museum. Betsy D. Holden and Deborah L. DeHaas are members of the same family. Michael P. Krasny and James Canning have a business relationship outside of the Museum. Edward Liddy, W. James Farrell, and Robert Morrison all serve on a board outside of the Museum. Edward Liddy, W. James Farrell, William A. Osborn, Glenn F. Tilton, and Miles D. White all serve on a board outside of the Museum. Andrew J. McKenna and James A. Skinner both serve as directors for a board outside of the Museum. Andrew J. McKenna and Michael Ferro serve on a board outside of the Museum. David Mosena and Roberto Herencia both serve on a board outside of the Museum. William A. Osborn and Betsy D. Holden both serve as directors for a board outside of the Museum. William A. Osborn, W. James Farrell, Glenn F. Tilton, and Miles D. White all serve as directors for a board outside of the Museum. J. Christopher Reyes and Michael W. Ferro, Jr. have a business relationship outside of the Museum. J. Christopher Reyes and James S. Crown both served as directors for a board outside of the Museum for a portion of the year. S. Jay Stewart and Ronald J. Gidwitz both serve on a board outside of the Museum. Miles D. White and Michael W. Ferro, Jr. have a business relationship outside of the Museum. Miles D. White, Richard H. Lenny, Dr. Walter E. Massey, Andrew J. McKenna, and James A. Skinner all serve on a board outside of the Museum. Thomas J. Wilson and W. James Farrell both serve on a board outside of the Museum. Review of 990 Form 990, Part VI- Section B, Line 11b 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. Conflict of Interest Policy 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. Compensation Policy Form 990, Part VI- Section B, Line 15b 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 MSIs mission. These goals and objectives are reviewed annually as part of the Museums Performance Management Process. The process consists of: 1. The process is evaluated during the fall Compensation Committee Meeting. 2. The Human Resources department obtains and reviews benchmarked data to ensure Executive Compensation remains competitive within the industry. As needed, a third party consultant may be engaged to complete an Executive Remuneration study. A detailed analysis is reviewed by the Director of Human Resources, the CFO and CEO of the Museum and a recommendation is prepared for the Compensation Committee. 3. The Compensation Committee reviews the Executive Compensation recommended and suggests modifications where appropriate. 4. Each year, MSI management determines if merit increases will be awarded to Museum staff. Forms available for Public Inspection Form 990, Part VI- Section C, Line 18 The Museum makes documents available upon request. The website and www.guidestar.org make the Forms 990 available on their website. Statements available to the public Form 990, Part VI- Section C, Line 19 Financial statements and the Museum Annual Report are available to the public via the Museum's website and upon request. other changes in net assets Form 990, Part XI, Line 5 Net Unrealized gains(losses) on investment $5,057,890 Donated Services & Use of Facilities $ 426,640 ----------- Total $5,484,530