2024-03-01T10:32:27-06:00 2023-06-30 390859910 BAKER TILLY US LLP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2022-07-01 410706172 SCIENCE MUSEUM OF MINNESOTA SCIE 6512219418 120 W KELLOGG BLVD ST PAUL MN 55102 ALISON BROWN PRESIDENT AND CEO 6512219418 2024-02-22 1 ALISON BROWN XXX-XX-XXXX 0 KAREN A GRIES P00078514 6128764500 2024-02-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ALISON BROWN 120 W KELLOGG BLVD ST PAUL MN 55102 42304966 0 X WWW.SMM.ORG X 1907 MN THE SCIENCE MUSEUM OF MINNESOTA ENVISIONS A WORLD IN WHICH EVERYONE HAS THE POWER TO USE SCIENCE TO MAKE LIVES BETTER. THE MUSEUM IS ONE OF THE STATE'S OLDEST AND BEST-KNOWN CULTURAL INSTITUTIONS, WITH A HISTORY DATING BACK TO 1907. THE MUSEUM SERVES HUNDREDS OF THOUSANDS OF PEOPLE EACH YEAR WITH A COMBINATION OF HIGH-QUALITY STEM LEARNING EXPERIENCES, HIGHLY-REGARDED SCIENCE AND RESEARCH PROGRAMS THAT SPAN THE GLOBE, AND A WORLD-CLASS COLLECTION OF NEARLY TWO MILLION FOSSILS, ARTIFACTS, AND CULTURAL OBJECTS THAT SPAN BILLIONS OF YEARS OF EARTH'S HISTORY. THE MUSEUM'S MISSION IS TO TURN ON THE SCIENCE: INSPIRE LEARNING, INFORM POLICY, AND IMPROVE LIVES. 36 35 514 283 1038569 381598 14814505 20720325 11693260 12913838 -231152 538736 2753941 891703 29030554 35064602 0 0 0 0 18533390 20180201 0 0 2848416 17351238 19792090 35884628 39972291 -6854074 -4907689 121453180 119442898 15406790 15504315 106046390 103938583 X THE MUSEUM'S MISSION STATEMENT IS "TURN ON THE SCIENCE: INSPIRE LEARNING. INFORM POLICY. IMPROVE LIVES." 0 0 13092540 9306411 MUSEUM EXPERIENCES:THE SCIENCE MUSEUM OF MINNESOTA IS COMMITTED TO INSPIRING LEARNING, INFORMING POLICY AND IMPROVING LIVES. IT WORKS TO REALIZE A WORLD IN WHICH ALL PEOPLE HAVE THE POWER TO USE SCIENCE TO MAKE LIVES BETTER. THE MUSEUM'S 34,000 M2 FACILITY OVERLOOKING THE MISSISSIPPI RIVER IN DOWNTOWN SAINT PAUL WELCOMED 442,000 VISITORS LAST YEAR BUT THE MUSEUM'S IMPACT IS REGIONAL, NATIONAL AND INTERNATIONAL THROUGH ITS EXHIBIT PRODUCTION AND EXHIBIT TOURING BUSINESSES, OMNITHEATER FILMS, SCHOOL OUTREACH AND PROFESSIONAL DEVELOPMENT SERVICES, AND AFFILIATION WITH THE NATIONAL INFORMAL SCIENCE EDUCATION NETWORK.(CONTINUED ON SCHEDULE O)IN FY23, WE COUNTED 1,475,075 ENGAGEMENTS WITH OUR GENERAL AUDIENCE. IN ADDITION TO THOSE THAT OCCURRED DURING VISITS, PROGRAMS, OR EVENTS AT THE MUSEUM, WHERE WE KNOW A GREAT DEAL ABOUT WHO OUR AUDIENCE IS, THE REMAINDER OCCURRED IN CONTEXTS SUCH AS ONLINE AUDIENCES, TRAVELING EXHIBIT AUDIENCES OR COMMUNITY OUTREACH AUDIENCES WHERE WE DO NOT HAVE DETAILS ABOUT WHO OUR AUDIENCE IS, BUT ARE STILL DELIVERING SCIENCE MUSEUM PRODUCED STEM CONTENT.FOR THE SCIENCE MUSEUM OF MINNESOTA, THE EXPERIENCE IS ESSENTIAL TO ACHIEVING THE MUSEUM'S MISSION. THE MUSEUM STRIVES TO PROVIDE HIGH-QUALITY EXPERIENCES BOTH ONSITE AND BEYOND THE MUSEUM'S DOORS - ONLINE AND AT OTHER MUSEUMS. 7760867 793119 STEM EQUITY & EDUCATION:AS ONE OF THE LARGEST PROVIDERS OF INFORMAL SCIENCE EDUCATION, THE SCIENCE MUSEUM IGNITES INTEREST IN SCIENCE AND ADDRESSES THE URGENT AND ONGOING NEED TO BROADEN PARTICIPATION AND CREATE AN INCLUSIVE PATHWAY TO THE STEM WORKFORCE. THE SCIENCE MUSEUM OF MINNESOTA PROVIDES A HOST OF PROGRAMS THAT ADDRESS OPPORTUNITY GAPS IN STEM EDUCATION AND CONNECT THE DOTS FROM EARLY CHILDHOOD INTEREST IN STEM TO PURSUING ADVANCED EDUCATION AND CAREERS. (CONTINUED ON SCHEDULE O)IN FY23, JUST OVER 44% OF PUBLIC SCHOOL STUDENTS WHO CAME ON A FIELD TRIP IDENTIFIED AS BLACK, INDIGENOUS, OR PEOPLE OF COLOR (BIPOC), HIGHER THAN THE PROPORTION OF BIPOC STUDENTS IN THE STATE. ALSO, NEARLY 40% OF PUBLIC SCHOOL STUDENTS WHO ATTENDED A FIELD TRIP WERE STUDENTS WHO RECEIVED FREE OR REDUCED-LUNCH; THIS IS HIGHER THAN THE STATEWIDE PERCENTAGE OF STUDENTS WHO RECEIVED FREE OR REDUCED-LUNCH. THE SCIENCE MUSEUM PROVIDES A HOST OF PROGRAMS TO HELP ADDRESS OPPORTUNITY GAPS IN STEM EDUCATION AND CONNECT THE DOTS FROM A CHILDHOOD INTEREST IN STEM TO PURSUING ADVANCED EDUCATION AND CAREERS. WE ENGAGE WITH YOUNG LEARNERS IN VARIOUS WAYS, AND HAVE A BROAD REACH: SCHOOL PROGRAMMING INCLUDING: 1. A FIELD TRIP TO, OR VISIT FROM, THE SCIENCE MUSEUM IS MORE THAN A HIGHLIGHT FOR STUDENTSIT'S A CHANCE TO SPARK A YOUNG LEARNER'S CREATIVITY AND INSPIRE KIDS TO SEE THE MANY WAYS THAT STEM CONNECTS TO THEIR DAILY LIVES. LAST FISCAL YEAR 67,111 STUDENTS AND CHAPERONES PARTICIPATED. 2. THROUGH OUTREACH ASSEMBLIES, 20,149 SCIENCE MUSEUM EDUCATORS PRESENT LARGER-THAN-LIFE SCIENCE LESSONS TO AN ENTIRE GRADE LEVEL OR SCHOOL. LAST FISCAL YEAR, WE REACHED STUDENTS AND EDUCATORS IN 75 OUT OF 87 MINNESOTA COUNTIES THROUGH AT LEAST ONE EDUCATION PROGRAM, INCLUDING OUTREACH ASSEMBLIES. 3. THE LENDING LIBRARY IS A COLLECTION OF EDUCATIONAL MATERIALS FOR TEACHERS AND OTHER EDUCATION PROFESSIONALS TO CHECK OUT AND USE TO ENGAGE THEIR STUDENTS IN A VARIETY OF SCIENTIFIC SUBJECT AREAS. 4,273 STUDENTS AND 96 EDUCATORS ENGAGED WITH MATERIALS FROM THE LENDING LIBRARY IN 6 COUNTIES. OUT-OF-SCHOOL PROGRAMMING:1. LAST SUMMER THE MUSEUM HOSTED 1,506 CAMPERS FOR SUMMER CAMPS PROGRAM.OVERALL, INCLUDING THE PROGRAMS DETAILED ABOVE AND OTHERS, THERE WERE 102,379 ENGAGEMENTS WITH K-12 AUDIENCES. 3804041 312603 SCIENCE:LESS VISIBLE TO MUSEUM VISITORS IS THE INTERNATIONALLY RECOGNIZED RESEARCH BEING CONDUCTED EVERY DAY BY SCIENCE MUSEUM OF MINNESOTA SCIENTISTS AS PART OF THE CENTER FOR RESEARCH AND COLLECTIONS. STAFF CARE FOR A COLLECTION OF ABOUT 2 MILLION OBJECTS AND THROUGH THEIR RESEARCH LEARN ABOUT THE WORLD AROUND US SO THAT WE CAN MAKE INFORMED DECISIONS MOVING FORWARD. DIGITIZING THE MUSEUM'S COLLECTIONS IS AN INSTITUTIONAL STRATEGIC PRIORITY. IN FY23 WE CONTINUED TO DIGITIZE RECORDS AND IMAGED OBJECTS THROUGH SEVERAL PROJECTS INCLUDING THE WANNAGAN CREEK AND CHIAPAS PROJECTS, NEOTOMA PROJECT, AND MPCA CANNON RIVER PROJECT.(CONTINUED ON SCHEDULE O)IN ADDITION TO STEWARDING AND DIGITIZING OUR COLLECTIONS, SCIENCE MUSEUM SCIENTISTS ARE IN THE FIELD AND LAB COLLECTING AND ANALYZING SAMPLES AND OBJECTS THAT IMPACT DECISIONS TO IMPROVE WATER QUALITY, TEACH US ABOUT THE WORLD AROUND US, AND CONTRIBUTE TO GLOBAL KNOWLEDGE. WE SHARE THIS KNOWLEDGE BY CONNECTING WITH OUR PEERS AT CONFERENCES AND OTHER SITE VISITS, MENTORING STUDENTS AND EARLY CAREER SCIENTISTS, VIA PRESENTATIONS, AND THROUGH PUBLICATIONS. THESE CONNECTIONS LEAD TO NEW PARTNERSHIPS AND COLLABORATIONS, IT FURTHERS SCIENTIFIC KNOWLEDGE, AND HELPS WITH WORKFORCE DEVELOPMENT. KEY PROJECTS INCLUDE:1. COLLECTING AND EXAMINING CRETACEOUS LEAVES TO BUILD TOWARD A NEW CLIMATE STUDY THAT COULD EXTEND MINNESOTA'S CLIMATE DATA AT LEAST 90 MILLION YEARS FURTHER INTO THE PAST.2. ADDING TO OUR EXISTING FOSSIL COLLECTIONS FROM BOTH SIDES OF THE MASS EXTINCTION EVENT 66 MILLION YEARS AGO. 3. STUDYING THE INVASIVE DIATOM DIDYMOSPHENIA IN STREAMS ALONG THE NORTH SHORE OF LAKE SUPERIOR. 4. UNDERSTANDING HOW HARMFUL ALGAL BLOOMS FORM IN RELATIVELY PRISTINE ECOSYSTEMS LIKE THE BOUNDARY WATERS AND SUPERIOR NATIONAL FOREST. 5. STUDYING THE IMPACTS OF RISING SALT LEVELS IN MINNESOTA LAKES.6. THE DAKOTA COLLECTION PROJECT RESULTED IN AN ASSESSMENT OF THE DAKOTA COLLECTION, DOZENS OF COMMUNITY VISITS, ELEVATED AWARENESS OF THE COLLECTION AMONG DAKOTA COMMUNITY MEMBERS, POLICY DEVELOPMENT FOR OBJECT CARE, AND A LENGTHY LIST OF STEPS FOR CONTINUING THIS WORK. 7. DOCUMENTING OVER 100,000 YEARS OF HUMAN HABITATION AT THE PEDERSEN SITE. THIS PROJECT STUDIES CLIMATE CHANGE AND CULTURE OF AN ISLAND IN SW MINNESOTA. 8. TEACHING THE NEXT GENERATION OF SCIENTISTS AT AN ARCHAEOLOGICAL FIELD SCHOOL WITH THE UNIVERSITY OF MINNESOTA. THE STUDENTS SURVEYED BOUNDARIES OF OUR ST. CROIX WATERSHED RESEARCH STATION LOG CABIN SITE AND EXCAVATED AN EXPANDED AREA OF PINE NEEDLES SITE RECOVERING LATE WOODLAND MATERIALS AND INTACT PIT FEATURES THAT INCLUDE PALEO-SUBSISTENCE SAMPLES (WOOD CHARCOAL). 9. UPDATING THE STONE TOOLS OF MINNESOTA, A GUIDE TO LITHIC TECHNOLOGY FOR MINNESOTA. 10. INVENTORY AND DIGITIZATION OF ETHNOGRAPHIC SEED COLLECTION, FOLLOWING COMMUNITY INTEREST AND FEEDBACK FROM COMMUNITY CONVERSATIONS. 7302108 1994012 OTHER PROGRAM SERVICES INCLUDE UNALLOCATED COSTS INCLUDING COMMUNICATIONS AND MARKETING, VOLUNTEERS, AND EVALUATION AND OTHER ACTIVITIES TO SUPPORT MUSEUM MEMBERS AND VISITORS. 7302108 1994012 31959556 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 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 1 171 0 1 514 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 36 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MN MI MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X ROBERT A DOTY 6512219418 120 WEST KELLOGG BLVD ST PAUL MN 55102 ALISON BROWN PRESIDENT AND CEO 40.00 X X 419320 0 58633 MELISSA FEICK CHAIR 1.00 X X 0 0 0 JESSICA J HELLMAN PH D VICE CHAIR 1.00 X X 0 0 0 FUNLOLA OTUKOYA SECRETARY 1.00 X X 0 0 0 JOHN J CORKREAN TREASURER 1.00 X X 0 0 0 KEVIN R RONNEBERY MD TRUSTEE - E&I CHAMPION 1.00 X 0 0 0 ADAM FREEMAN TRUSTEE 1.00 X 0 0 0 ADAM MISHLER TRUSTEE 1.00 X 0 0 0 BRETT E EDELSON TRUSTEE 1.00 X 0 0 0 BRYAN HUGHES TRUSTEE 1.00 X 0 0 0 CATHERINE SIMPSON TRUSTEE 1.00 X 0 0 0 CHADY ALAHMAR TRUSTEE 1.00 X 0 0 0 CHUCK R KUMMETH TRUSTEE 1.00 X 0 0 0 DON SHELBY TRUSTEE 1.00 X 0 0 0 ERIC ENGH TRUSTEE 1.00 X 0 0 0 HOLLY J MORRIS PH D TRUSTEE 1.00 X 0 0 0 JAYSHREE SETH TRUSTEE 1.00 X 0 0 0 JENNIFER SPAULDING SCHMIDT TRUSTEE 1.00 X 0 0 0 JILL WALKER TRUSTEE 1.00 X 0 0 0 JOHN P BANOVETZ PH D TRUSTEE 1.00 X 0 0 0 KATE T KELLY TRUSTEE 1.00 X 0 0 0 KELLY ARONSON TRUSTEE 1.00 X 0 0 0 KEN SMITH TRUSTEE 1.00 X 0 0 0 MAUREEN BAUSCH TRUSTEE 1.00 X 0 0 0 MEGHAN M BROWN TRUSTEE 1.00 X 0 0 0 MELVIN W CARTER III TRUSTEE 1.00 X 0 0 0 MERCEDES M JACKSON TRUSTEE 1.00 X 0 0 0 MITCH HELGERSON TRUSTEE 1.00 X 0 0 0 PIPER NIETERS SU TRUSTEE 1.00 X 0 0 0 RASSOUL DASTMOZD PH D TRUSTEE 1.00 X 0 0 0 RENEE LOPEZ-PINEDA TRUSTEE 1.00 X 0 0 0 RICH WANG TRUSTEE 1.00 X 0 0 0 SHARON SUND TRUSTEE 1.00 X 0 0 0 SUZANNE M RIVERA PH D TRUSTEE 1.00 X 0 0 0 TIM G PETERSON TRUSTEE 1.00 X 0 0 0 TONY S FISHER TRUSTEE 1.00 X 0 0 0 ROBERT DOTY CFO (STARTED 09/2022) 40.00 X 71785 0 3263 MARY LARSON VP OF MISSION ADVANCEMENT 40.00 X 245326 0 10591 JULIETTE FRANCIS VP OF PEOPLE AND MUSEUM CULTURE 40.00 X 208820 0 42630 JOANNE JONES-RIZZI VP OF SCIENCE, EQUITY, & EDUCATION 40.00 X 218859 0 16916 MARK DAHLAGER VP OF MUSEUM EXPERIENCES 40.00 X 215353 0 11720 LAURIE FINK CHAIR OF SCIENCE 40.00 X 129863 0 35094 1509326 0 178847 15 0 1 0 SALO LLC PO BOX 1414 MINNEAPOLIS MN 554801414 CONSULTING SERVICES 905333 MARCO TECHNOLOGIES LLC NW7128 PO BOX 1450 MINNEAPOLIS MN 554857128 TECHNOLOGY SERVICES AND EQUIPMENT 332350 CY-CON INC 110 SYCAMORE STREET WEST ST PAUL MN 55117 CONSTRUCTION SERVICES 260956 MINNESOTA PUBLIC RADIO 480 CEDAR STREET ST PAUL MN 55101 GRANT SUBAWARDEE 224932 KATHLEEN ABBOTT 8736 SUMMER WIND BAY WOODBURY MN 55125 FUNDRAISING CONSULTING SERVICES 199088 25 6324106 14396219 13374 20720325 ADMISSIONS AND FEES 713990 5689179 5689179 FILM/EXHIBIT RENTAL AN 713990 4126983 4126983 MEMBERSHIPS 713990 1868957 1868957 PARKING RAMP 812930 1228719 568947 659772 12913838 865813 298945 566868 287135 116458 170677 170677 170677 6277720 6604797 -327077 -327077 -327077 1240135 519109 721026 721026 35064602 12406145 1038569 899563 631575 631575 15852894 12758086 1546952 1547856 381712 311496 32424 37792 2111596 1636273 276804 198519 1202424 931757 157623 113044 168053 168053 62113 62113 86000 86000 191883 191883 3971952 1700475 1604167 667310 1927638 1927638 520644 455563 57271 7810 190233 165503 20925 3805 1690254 1478972 185928 25354 541197 476253 54120 10824 470330 459748 5879 4703 5787475 5697197 50154 40124 527883 461898 58067 7918 FABRICATION AND EXHIBIT 2707401 2707401 UBI TAXES PAID 44042 44042 904992 747254 60381 97357 39972291 31959556 5164319 2848416 29650 29650 750741 5456323 505261 595155 2386544 2166654 184662 221561 594868 436920 209284327 138418503 75690639 70865824 18525168 15225881 22611543 23629339 174104 815591 121453180 119442898 3278875 2879674 1638834 962843 9983218 8596315 505863 3065483 15406790 15504315 X 72435760 69101606 33610630 34836977 106046390 103938583 121453180 119442898 X -4907689 3015825 -215943 X 0 1 X 1 1 1 X 28833330 14449032 16093705 14814505 20720325 94910897 28833330 14449032 16093705 14814505 20720325 94910897 6862106 88048791 584 14593 566868 582045 613353 286888 50861 56483 381598 1389183 2217000 2217000 99099125 63770830 0.88850 0.92700 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PROCEEDS FROM CONSERVATION EASEMENT - 2021 AMOUNT: $ 2,217,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 86000 0 0 86000 0 PART II-B, LINE 1: THE SCIENCE MUSEUM OF MINNESOTA ENGAGED A MINNESOTA GOVERNMENT RELATIONS FIRM TO REPRESENT THE MUSEUM'S INTEREST TO THE MINNESOTA LEGISLATURE AS WELL AS A NATIONAL GOVERNMENT RELATIONS FIRM TO REPRESENT THE MUSEUM'S INTEREST ON A NATIONAL LEVEL. X X 1 67.00 1 1 80.00 5000 X X X X 0 41242677 3355577 3272280 5891476 41979058 47638287 2349131 -5252243 3492498 41242677 40694499 449149 10894844 4400205 47638287 44874751 287607 285137 4752996 40694499 44806240 901475 1845914 2678878 44874751 0.27890 0.48410 0.23700 0 0 2429155 2429155 122080260 63395931 58684329 2045546 1013756 1031790 9954329 5740247 4214082 72775037 68268569 4506468 70865824 BENEFICIAL INTEREST IN TRUST 1362354 F ALTERNATIVE INVESTMENTS - COMMINGLED FUNDS 14655845 F ALTERNATIVE INVESTMENTS - HEDGE FUNDS 3843177 F ALTERNATIVE INVESTMENTS - PRIVATE EQUITY 3767963 F 23629339 INTEREST RATE SWAP LIABILITY 373332 ANNUITY OBLIGATIONS 71539 CAPITAL LEASE 620612 LINE OF CREDIT PAYABLE 2000000 3065483 X 38308168 3015825 419624 3435449 34872719 191883 191883 35064602 40415975 635567 635567 39780408 191883 191883 39972291 PART II, LINE 5: WRITTEN POLICIES ARE IN PLACE REGARDING MONITORING, INSPECTING, RESPONDING TO VIOLATIONS AND ENFORCING CONSERVATION EASEMENTS. OUR EASEMENTS 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. 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. 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. PART X, LINE 2: 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). FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, THE MUSEUM RECORDED TAX PAYABLES OF $103,114 AND $37,270, RESPECTIVELY. DURING THE YEARS ENDED JUNE 30, 2023 AND 2022, THE MUSEUM INCURRED UNRELATED BUSINESS INCOME RELATING TO THEIR ALTERNATIVE INVESTMENTS. AS A RESULT, THE MUSEUM HAS RECORDED INCOME TAX EXPENSE OF $44,042 AND $97,175 FOR THE YEARS ENDED JUNE 30, 2023 AND 2022 RESPECTIVELY, WHICH HAS BEEN NETTED AGAINST INVESTMENT INCOME IN THE ACCOMPANYING STATEMENT OF ACTIVITIES. 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, 2023 AND 2022. THE MUSEUM'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS 52,559. UNREALIZED LOSS ON INTEREST RATE SWAPS -266,495. CHANGE IN SPLIT INTEREST AGREEMENTS -2,007. MUSEUM STORE DIRECT EXPENSES 519,109. DIRECT RENTAL PROPERTY EXPENSES 116,458. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL PROPERTY EXPENSES 116,458. MUSEUM STORE DIRECT EXPENSES 519,109. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 3843177 EUROPE 0 0 INVESTMENTS 176292 0 0 0 0 0 0 4019469 0 4019469 1 0 1 1 1 0 PART I, LINE 3: ACCRUAL METHOD PART III ACCOUNTING METHOD: PART IV, LINE 1: THE MUSEUM HAS DIRECTLY INVESTED IN FOREIGN CORPORATIONS AND FILED THE REQUIRED FORMS 926 FOR THE TAX YEAR. PART IV, LINE 3: THE MUSEUM HAS DIRECTLY INVESTED IN FOREIGN CORPORATIONS. HOWEVER, THE MUSEUM DOES NOT MEET THE FILING REQUIREMENTS OF FILING FORM 5471 FOR THE TAX YEAR. PART IV, LINE 4: THE MUSEUM INVESTS IN PARTNERSHIPS THAT HOLD DIRECT OR INDIRECT INTERESTS IN PASSIVE FOREIGN INVESTMENT COMPANIES. THE INVESTMENT PARTNERSHIPS HAVE PROPERLY FILED FORM 8621, OR THE UNDERLYING INVESTMENTS DID NOT GENERATE ANY UNRELATED BUSINESS INCOME. UNDER THESE FACTS, IT IS NOT NECESSARY FOR THE MUSEUM TO FILE AN ADDITIONAL 8621. 1 X X X X X X 0 0 0 0 0 0 0 0 0 ALISON BROWN PRESIDENT AND CEO 398520 0 0 0 20800 0 17163 0 41470 0 477953 0 0 0 MARY LARSON VP OF MISSION ADVANCEMENT 244176 0 0 0 1150 0 6305 0 4286 0 255917 0 0 0 JULIETTE FRANCIS VP OF PEOPLE AND MUSEUM CULTURE 208120 0 0 0 700 0 8804 0 33826 0 251450 0 0 0 JOANNE JONES-RIZZI VP OF SCIENCE, EQUITY, & EDUCATION 218309 0 0 0 550 0 8443 0 8473 0 235775 0 0 0 MARK DAHLAGER VP OF MUSEUM EXPERIENCES 215053 0 0 0 300 0 5481 0 6239 0 227073 0 0 0 LAURIE FINK CHAIR OF SCIENCE 129563 0 0 0 300 0 5514 0 29580 0 164957 0 0 0 PART I, LINE 1B THESE PAYMENTS FOLLOWED THE ORGANIZATIONS STANDARD WRITTEN POLICIES FOR EXPENDITURES. THERE IS NO WRITTEN POLICY SPECIFIC TO THESE PAYMENTS AS THEY ARE NOT STANDARD BENEFITS AND ARE PROVIDED ON A VERY LIMITED BASIS FOR BUSINESS PURPOSE. A HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF ST PAUL MN 521440935 2020-04-01 13900000 REFINANCE, DIRECT PURCHASE 0 0 0 A 5200000 13900000 11900000 2000000 1 0 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 1 US BANK 9.000000000000 0 0 0 0 1 A 1 X 6 13374 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN PART I, COLUMN (B), REPRESENTS THE NUMBER OF DONORS. FORM 990, PART VI, SECTION A, LINE 1A THE BYLAWS OF THE SCIENCE MUSEUM OF MINNESOTA SECTION 5.2 STATES "THE BOARD OF TRUSTEES MAY DESIGNATE AN EXECUTIVE COMMITTEE COMPOSED OF AT LEAST THREE TRUSTEES DESIGNATED BY THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY OF THE BOARD OF TRUSTEES IN THE GOVERNANCE 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." FORM 990, PART VI, SECTION B, LINE 11B THE SCIENCE MUSEUM OF MINNESOTA'S FORM 990 IS MADE AVAILABLE TO THE MUSEUM'S BOARD OF TRUSTEES. 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 15A THE EXECUTIVE AND COMPENSATION COMMITTEE IS COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES. ANNUALLY THE COMMITTEE REVIEWS AND REPORTS ON THE CEO'S PERFORMANCE AGAINST OBJECTIVES AND RECOMMENDS THE CEO'S COMPENSATION TO THE BOARD OF TRUSTEES WHO APPROVE. PERIODICALLY THE SCIENCE MUSEUM CONTRACTS WITH AN EXTERNAL COMPENSATION CONSULTANT TO EVALUATE ALL BENCHMARK POSITIONS, INCLUDING THE CEO, AND REVIEWS COMPARATIVES OF A SELECTED PEER GROUP. COMPARATIVE MARKET DATA IS A BLEND OF NON-PROFIT AND FOR-PROFIT ORGANIZATIONS LOCALLY, REGIONALLY OR NATIONALLY. THE LAST COMPENSATION REVIEW PROCESS WAS HELD IN OCTOBER 2022. ANNUALLY THE CEO REVIEWS THE OFFICERS' PERFORMANCE AGAINST OBJECTIVES AND DETERMINES COMPENSATION. PERIODICALLY THE SCIENCE MUSEUM CONTRACTS WITH AN EXTERNAL COMPENSATION CONSULTANT TO EVALUATE ALL BENCHMARK POSITIONS, INCLUDING OFFICERS, AND REVIEWS COMPARATIVES OF A SELECTED PEER GROUP. COMPARATIVE MARKET DATA IS A BLEND OF NON-PROFIT AND FOR-PROFIT ORGANIZATIONS LOCALLY, REGIONALLY OR NATIONALLY. FORM 990, PART VI, SECTION C, LINE 18 THE PUBLIC INSPECTION COPY OF THE MOST RECENT FORM 990 AND THE MOST RECENT AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. THE PUBLIC INSPECTION COPIES OF FORM 990-T AND 1023, GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE MOST RECENT AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN TRUSTS 52,559. UNREALIZED GAIN ON INTEREST RATE SWAPS -266,495. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -2,007.