2022-11-11T10:54:10-06:00 2021-12-31 420714325 RSM US LLP 30 South Wacker Dr Suite 3300 Chicago IL 606063392 990 2021-01-01 362167797 Museum of Science and Industry MUSE 7736841414 5700 S DuSable Lake Shore Drive Chicago IL 606372093 A Chevy Humphrey President and CEO 7736841414 2022-11-04 1 A Chevy Humphrey XXX-XX-XXXX Rebekuh Eley P01247672 3126343400 2022-11-04 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z X A Chevy Humphrey 5700 S DuSable Lake Shore Drive Chicago IL 606372093 253171640 0 X www.msichicago.org X 1933 IL MSI's mission is to inspire the inventive genius in everyone. 98 97 355 162 332537 0 46955133 131785818 2455509 15517488 1593532 16704097 688808 5059653 51692982 169067056 7129 0 0 0 24230044 20172049 0 0 2836517 22364698 26294746 46601871 46466795 5091111 122600261 301079614 427907232 66304709 66348374 234774905 361558858 X The Museum of Science and Industry (the Museum), a 501(c)(3) corporation, is the largest science museum in the Western hemisphere and home to thousands of exhibits and artifacts. For more than 87 years, the Museum has been a premier destination in Chicago, Illinois. The Museum's mission is to inspire the inventive genius in everyone, and its vision is to inspire and motivate children to achieve their full potential in science, technology, medicine and engineering. The Museum typically welcomes over 1.4 million guests annually and is the top Chicago museum field trip destination for students. Through it's Welcome to Science Initiative, the Museum engages over half a million participants annually in science education programs. 0 0 26330188 0 9658505 World-class permanent exhibitions include Science Storms, a 26,000-square-foot exhibit that reveals the extraordinary science behind some of nature's most powerful and compelling phenomena; and You! The Experience, a 15,000-square-foot exhibit that explores the human mind, body and spirit. Other favorite experiences include the U-505 Submarine, the only German U-boat captured during World War II, surrounded by more than 30,000 square feet of artifacts and interactive activities; the Coal Mine, a reproduction of an Illinois coal mine that takes guest down 50 feet in a real hoist to the bottom of a mineshaft; The Great Train Story, a dynamic model display that illustrates modern rail operation; and the Giant Dome Theater, which features educational films, rich in content and presented on Chicago's only five-story, domed wrap-around movie screen. 6278494 0 120567 Educational Programs and Activities. The Museum's Welcome to Science Initiative 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. 4020879 4322241 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, 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. 1476583 0 1704357 Retail and supporting services represent various program offerings that enhance the guest experience. These include the musuem store, food services, and parking services. 1476583 0 1704357 38106144 1 1 0 0 0 0 0 1 0 1 1 1 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 1 136 0 1 355 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 98 97 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA FL IL MI NY PA UT WI MN OH VA X X Shauna Lindsey 7739474175 5700 S DuSable Lake Shore Drive Chicago IL 606372093 A Chevy Humphrey President & CEO/Trustee (as of 1/21) 35.00 X X 544189 0 101417 Sheila M Cawley VP - External Affairs 35.00 X 438213 0 35914 Mary L Krinock VP - Operations 35.00 X 334634 0 19920 Yolanda Stephens Chief of People & Culture 35.00 X 279697 0 39210 Rose B Fealy VP - Fin. & Admin/CFO (until 6/21) 35.00 X 215671 0 20187 Rabiah Mayas PhD VP of Education & Guest Experience 35.00 X 207983 0 17657 Jonathan Assell AVP, Finance & Accounting 35.00 X 163780 0 40070 Hsinghua Chen General Counsel 35.00 X 165848 0 8637 Devon Nelson AVP-Development 35.00 X 137570 0 32280 Anne Rashford Dir. Special Exhibits & Bus. Develop. 35.00 X 149051 0 15683 Kathleen McCarthy Director-Collections 35.00 X 132823 0 22846 David R Mosena President & CEO/Trustee (until 1/21) 35.00 X X 114385 0 1759 Matthew C Simpson VP - Marketing/CMO (until 2/21) 35.00 X 101282 0 12225 Anthony Vitagliano VP - Exhibitions and Engagement 35.00 X 69171 0 4662 Samantha Lewis Assistant to the President and CEO 35.00 X 51146 0 15175 David J Vitale Treasurer/Trustee 1.00 X X 0 0 0 Christopher M Crane Chairman/Trustee 1.00 X X 0 0 0 Allan E Bulley Jr Vice Chairman/Trustee 1.00 X X 0 0 0 Frank M Clark Vice Chairman/Trustee 1.00 X X 0 0 0 Michelle L Collins Vice Chairman/Trustee 1.00 X X 0 0 0 Kent P Dauten Vice Chairman/Trustee 1.00 X X 0 0 0 Michael W Ferro Jr Vice Chairman/Trustee 1.00 X X 0 0 0 David A Fisher Vice Chairman/Trustee 1.00 X X 0 0 0 James A Gordon Vice Chairman/Trustee 1.00 X X 0 0 0 Robert A Livingston Vice Chairman/Trustee 1.00 X X 0 0 0 Barry L MacLean Vice Chairman/Trustee 1.00 X X 0 0 0 Sheila A Penrose Vice Chairman/Trustee 1.00 X X 0 0 0 E Scott Santi Vice Chairman/Trustee 1.00 X X 0 0 0 Jeffrey R Applebaum Trustee 1.00 X 0 0 0 Matthew J Boler Trustee 1.00 X 0 0 0 Barbara L Bowles Trustee 1.00 X 0 0 0 Stephanie Braming CFA Trustee 1.00 X 0 0 0 Byron T Brazier DMin Trustee 1.00 X 0 0 0 John A Canning Jr Trustee 1.00 X 0 0 0 Piyush Chaudhari Trustee 1.00 X 0 0 0 Douglas M Cook Trustee 1.00 X 0 0 0 Richard H Copans Trustee 1.00 X 0 0 0 James S Crown Trustee 1.00 X 0 0 0 Tony Davis Trustee 1.00 X 0 0 0 Pedro DeJesus Jr Trustee 1.00 X 0 0 0 Katherine C Doyle Trustee 1.00 X 0 0 0 Ann M Drake Trustee 1.00 X 0 0 0 James J Drury III Trustee 1.00 X 0 0 0 W James Farrell Trustee 1.00 X 0 0 0 Ezequiel Zeke Flores Trustee 1.00 X 0 0 0 James J Fuentes Trustee 1.00 X 0 0 0 Matthew R Gibson Trustee 1.00 X 0 0 0 James T Glerum Jr Trustee 1.00 X 0 0 0 William M Goodyear Trustee 1.00 X 0 0 0 Benjamin S Graham Trustee 1.00 X 0 0 0 James A Gray Trustee 1.00 X 0 0 0 Catherine P Greenspon Trustee 1.00 X 0 0 0 Douglas C Grissom Trustee 1.00 X 0 0 0 Stephanie J Hickman Trustee 1.00 X 0 0 0 Gregory L Hyslop Trustee (until 6/16/21) 1.00 X 0 0 0 Justin Ishbia Trustee 1.00 X 0 0 0 Rashad R Johnson PE Trustee 1.00 X 0 0 0 Edward L Kaplan Trustee 1.00 X 0 0 0 Michael P Krasny Trustee 1.00 X 0 0 0 Avis LaVelle Trustee 1.00 X 0 0 0 Eric P Lefkofsky Trustee 1.00 X 0 0 0 Charles A Lewis Trustee 1.00 X 0 0 0 H John Livingston Trustee 1.00 X 0 0 0 Duncan A L MacLean Trustee 1.00 X 0 0 0 DG Macpherson Trustee 1.00 X 0 0 0 Matthew M Maloney Trustee 1.00 X 0 0 0 Tom McGuinness Trustee 1.00 X 0 0 0 Andrew J McKenna Trustee 1.00 X 0 0 0 Oscar Munoz Trustee 1.00 X 0 0 0 Robert S Murley Trustee 1.00 X 0 0 0 Daniela O'Leary-Gill Trustee 1.00 X 0 0 0 Robert F Pasin Trustee 1.00 X 0 0 0 Louis V Pinkham Trustee 1.00 X 0 0 0 John F Podjasek III Trustee 1.00 X 0 0 0 Jason Pritzker Trustee 1.00 X 0 0 0 Michael A Reinsdorf Trustee 1.00 X 0 0 0 J Christopher Reyes Trustee (until 3/22/21) 1.00 X 0 0 0 Larry D Richman Trustee 1.00 X 0 0 0 Michelle Russell Trustee 1.00 X 0 0 0 Manuel Sanchez Trustee 1.00 X 0 0 0 John F Sander Trustee (until 3/11/21) 1.00 X 0 0 0 Smita N Shah Trustee 1.00 X 0 0 0 Virginia K Simmons Trustee 1.00 X 0 0 0 Melody A Spann-Cooper Trustee 1.00 X 0 0 0 Byron O Spruell Trustee 1.00 X 0 0 0 Shundrawn A Thomas Trustee 1.00 X 0 0 0 Matt VanderZee Trustee 1.00 X 0 0 0 Ralph Wanger Trustee 1.00 X 0 0 0 Ann C Williams Trustee 1.00 X 0 0 0 Peng Zhao Trustee 1.00 X 0 0 0 Elizabeth Ziegler Trustee 1.00 X 0 0 0 Charles K Bobrinskoy Life Trustee 1.00 X 0 0 0 Lester Crown Life Trustee 1.00 X 0 0 0 Robert J Darnall Life Trustee 1.00 X 0 0 0 William J Devers Jr Life Trustee 1.00 X 0 0 0 Dennis J FitzSimons Life Trustee 1.00 X 0 0 0 Jere D Fluno Life Trustee 1.00 X 0 0 0 J Ira Harris Life Trustee 1.00 X 0 0 0 Jay L Henderson Life Trustee 1.00 X 0 0 0 James R Kackley Life Trustee 1.00 X 0 0 0 John P Keller Life Trustee 1.00 X 0 0 0 Frederick A Krehbiel Life Trustee 1.00 X 0 0 0 Richard H Lenny Life Trustee 1.00 X 0 0 0 Edward M Liddy Life Trustee 1.00 X 0 0 0 Walter E Massey PhD Life Trustee 1.00 X 0 0 0 Robert S Morrison Life Trustee 1.00 X 0 0 0 Terry E Newman Life Trustee 1.00 X 0 0 0 James J O'Connor Life Trustee 1.00 X 0 0 0 Wlliam A Osborn Life Trustee 1.00 X 0 0 0 Cindy Pritzker Life Trustee 1.00 X 0 0 0 Louis A Simpson Life Trustee 1.00 X 0 0 0 James A Skinner Life Trustee 1.00 X 0 0 0 S Jay Stewart Life Trustee 1.00 X 0 0 0 Eugene A Tracy Life Trustee 1.00 X 0 0 0 Arthur R Velasquez Life Trustee 1.00 X 0 0 0 3105443 0 387642 31 0 1 0 Berglund Construction Company 8410 S Chicago Avenue Chicago IL 60617 Construction 4480929 Elens & Maichin Roofing & Sheet Metal In 1621 Manhattan Rd PO Box 877 Joliet IL 60434 Roofing Contractor 1463068 Midway Building Services 1915 W Hubbard Street Chicago IL 60622 Janitorial 1403099 Securitas Security Services USA Inc 150 S Wacker Drive Chicago IL 60606 Security 1372920 41 North Contractors LLC 4906 Main Street Suite 102 Lisle IL 60532 Construction 903040 29 2358439 1767751 18328936 109330692 172046 131785818 General Admissions 900099 8886582 8886582 Special Exhibits 900099 4102241 4102241 Giant Dome Theater 900099 830688 830688 U-505 Exhibit 900099 5737 5737 1692240 1692240 15517488 5580903 5580903 6848 6848 241045 169302 71743 71743 71743 94733851 81704718 1905939 13029133 -1905939 11123194 11123194 31000 1767751 277136 -246136 -246136 7000 6000 1000 1000 190084 41489 148595 60493 88102 Employee Retention Cr. 900099 2087870 2087870 Parking & Guest Srvs 900099 1989726 1989726 Food Court 722514 511524 511524 488483 288182 200301 5077603 169067056 15805670 332537 21143031 2440693 1428438 610866 401389 13583386 10099908 2001701 1481777 420994 302879 68639 49476 2630785 1810056 451462 369267 1096191 788643 178723 128825 85706 85706 104870 104870 501336 501336 4125919 3798743 272771 54405 1012758 1012758 714146 636160 35164 42822 1258929 892399 299826 66704 1040404 956720 83684 279159 235740 23216 20203 832871 832871 10438717 9994600 444117 531739 488969 42770 Exhibit Fab. & Maint. 2131574 2131574 Building Maintenance 1742176 1620211 121965 Program Development 703306 625642 77664 Bank & Credit Card Fees 131408 107682 23726 659728 342151 173592 143985 46466795 38106144 5524134 2836517 3982081 4646190 5257177 27314321 33273046 15166849 194070 4689157 78260 71432 1077074 766958 386633636 255178229 129515728 131455407 61878006 151984332 64765039 90642626 1059133 1169960 301079614 427907232 4000244 6792732 1569402 5103518 52815519 50936892 4923900 2000000 2995644 1515232 66304709 66348374 X 163557381 295954592 71217524 65604266 234774905 361558858 301079614 427907232 X 122600261 2810155 1373537 X 0 1 X 1 0 X 20640157 54923379 30378394 41515795 126650878 274108603 5483968 5409280 5577460 5439338 5134940 27044986 26124125 60332659 35955854 46955133 131785818 301153589 20509204 280644385 2298818 2875304 3510555 2941681 5587751 17214109 1000 1000 972738 1882375 677474 262468 2376052 6171107 324539805 91419895 0.86470 0.79560 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous Revenue - 2017 Amount: $ 944,328. 2018 Amount: $ 1,882,087. 2019 Amount: $ 676,733. 2020 Amount: $ 256,139. 2021 Amount: $ 286,307. Film Lease Revenue - 2017 Amount: $ 28,410. 2018 Amount: $ 288. 2019 Amount: $ 741. 2020 Amount: $ 6,329. 2021 Amount: $ 1,875. Employee Retention Credit - 2021 Amount: $ 2,087,870. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 23542145 787500 2167118 913000 25583763 20406762 2257080 1538151 659848 23542145 16493417 1510904 2867405 464964 20406762 27625481 7111852 -1288612 16955304 16493417 18883483 6471518 3132501 862021 27625481 0.00000 0.94000 0.06000 0 0 190214119 105157204 85056915 18183696 13418753 4764943 178235821 136602272 41633549 131455407 Equity Funds 42909135 F Fixed Income Funds 47733491 F 90642626 Asset Retirement Obligation 546618 Funds on Deposit 166095 Purchase Agreement 177571 Interest Rate Swap 560098 Supplemental Retirement Plans 64850 1515232 X 173364854 2810155 121515 487290 3418960 169945894 501336 -1380174 -878838 169067056 46580901 136570 478872 615442 45965459 501336 501336 46466795 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 net assets without donor restrictions in the year in which the items are acquired or as decreases in net assets with donor restrictions if the assets used to purchase the items were restricted by donors. The Museum's collections are made up of artifacts of historical significance, scientific specimens and art objects that are held for educational, research, scientific and curatorial purposes. Each of the items is cataloged, preserved and cared for, and activities verifying the items' existence and assessing their condition are performed continuously. The collections are subject to the Museum's policy that requires proceeds from their sales to be used for direct care of existing artifacts or acquire other items for collections. 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. 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. Part X, Line 2: The Financial Accounting Standards Board (FASB) issued guidance requiring tax effects from uncertain tax positions to be recognized in the financial statements only if the position is more likely than not to be sustained should the position be challenged by a taxing authority. Management believes that there are no material uncertain positions that require recognition in the financial statements. There are no tax positions for which a material change in any unrecognized tax benefit or liability is reasonably possible in the next 12 months. The Museum has federal net operating loss carryforwards available to offset future unrelated business taxable income. The net operating loss carryforwards expire through 2041 and total approximately $2,697,000 and $2,558,000 at December 31, 2021 and 2020, respectively. As of December 31, 2021 and 2020, management has determined the likelihood of realizing the benefit from a future reversal of the net operating loss carryforwards is uncertain. Therefore, a 100% allowance has been applied to the deferred tax assets associated with the net operating loss carryforwards of approximately $728,000 and $691,000 at December 31, 2021 and 2020, respectively. The Museum files Form 990 in the U.S. federal jurisdiction and the State of Illinois. Part XI, Line 2d - Other Adjustments: Gaming Expenses 6,000. Rental Expenses 169,302. Cost of Goods Sold 41,489. Fundraising Expenses 277,136. Change in Value of Life Insurance Policy 20,995. Gain (Loss) on Film Consortium Investment 4,963. Change in Value of Asset Retirement Obligation -32,595. Part XI, Line 4b - Other Adjustments: Change in Value of Interest Rate Swap -1,380,174. Part XII, Line 2d - Other Adjustments: Rental Expenses 169,302. Cost of Goods Sold 41,489. Fundraising Expenses 268,081. Black Creativity 518946 512946 6000 6000 27135 32567 Columbian Ball 1279805 1254805 25000 9055 79019 24441 98919 1798751 1767751 31000 15055 79019 51576 131486 277136 -246136 X X 1 1 0 0 0 0 0 0 0 A Chevy Humphrey President & CEO/Trustee (as of 1/21) 540890 0 0 0 3299 0 75000 0 26417 0 645606 0 0 0 Sheila M Cawley VP - External Affairs 287284 0 150000 0 929 0 8414 0 27500 0 474127 0 0 0 Mary L Krinock VP - Operations 274634 0 60000 0 0 0 9239 0 10681 0 354554 0 0 0 Yolanda Stephens Chief of People & Culture 249697 0 30000 0 0 0 9108 0 30102 0 318907 0 0 0 Rose B Fealy VP - Fin. & Admin/CFO (until 6/21) 140671 0 0 0 75000 0 5085 0 15102 0 235858 0 0 0 Rabiah Mayas PhD VP of Education & Guest Experience 202671 0 5000 0 312 0 5748 0 11909 0 225640 0 0 0 Jonathan Assell AVP, Finance & Accounting 143780 0 20000 0 0 0 5328 0 34742 0 203850 0 0 0 Hsinghua Chen General Counsel 155848 0 10000 0 0 0 5551 0 3086 0 174485 0 0 0 Devon Nelson AVP-Development 132570 0 5000 0 0 0 4912 0 27368 0 169850 0 0 0 Anne Rashford Dir. Special Exhibits & Bus. Develop 145678 0 2000 0 1373 0 4592 0 11091 0 164734 0 0 0 Kathleen McCarthy Director-Collections 130823 0 2000 0 0 0 4751 0 18095 0 155669 0 0 0 Part I, Lines 4a-b The following individual received a severance payment which was reported as compensation on Part II, column (B)(iii): Rose B. Fealy - $75,000 Matthew C. Simpson - $49,688 Eligible executives participate in non-qualified deferred compensation plans organized under code Section 457(f). Contributions to the 457(f) plan during 2021 include: A. Chevy Humphrey - $64,850 A IFA Series 2017A-B 861091967 NoneAvail 2017-05-30 60000000 Series 2009 Bond Redemption 0 0 0 A 8716000 60000000 59600000 400000 1 0 1 1 A 0 0 0 0 0 0 0 A 0 1 0 0 1 0 0 0 0 A 1 Part IV, Line 2c: Bond Counsel performed the rebate calculation for the period December 17, 2009 through December 17, 2014. X 454 128046 FMV X Airplane cabin seats 4 44000 Cost/Selling Price 0 0 1 0 Part I, Column (b): Column (b) represents the number of items contributed. For line 9, column (b) represents the number of donations contributed. Schedule M, Part I, Line 25, Type of Property Contributed, Continued: Airplane cabin seats Form 990, Part VI, Section A, line 2 James S. Crown and Lester Crown have a family relationship. Jason Pritzker and Cindy Pritzker have a family relationship. John A. Canning, Jr. and John F. Podjasek III have a family relationship. Barry L. MacLean and Duncan A. L. MacLean have a family relationship. James S. Crown and Lester Crown have a business relationship outside of the Museum. Douglas C. Grissom and John A. Canning, Jr. have a business relationship outside of the Museum. James S. Crown, Lester Crown, and Michael A. Reinsdorf have a business relationship outside of the Museum. Kent P. Dauten and Larry D. Richman have a business relationship outside of the Museum. James A. Gray, William M. Goodyear, and David A. Fisher serve on a board outside of the Museum. James S. Crown and Michael A. Reinsdorf serve on a board outside of the Museum. Christopher M. Crane, James S. Crown, Eric P. Lefkofsky, Michael A. Reinsdorf, and David J. Vitale serve on a board outside of the Museum. Edward M. Liddy and William A. Osborn serve on a board outside of the Museum. Jay L. Henderson and Shundrawn A. Thomas serve on a board outside of the Museum. Douglas C. Grissom and John A. Canning, Jr. serve on a board outside of the Museum. Andrew J. McKenna and James A. Gordon serve on a board outside of the Museum. Richard H. Lenny and Sheila A. Penrose serve on a board outside of the Museum. Barry L. Maclean, Duncan A. L. Maclean, and Smita N. Shah have a business relationship outside of the Museum. David A. Fisher and Matthew M. Maloney serve on a board outside of the Museum. Barry L. Maclean, Duncan A. L. Maclean serve on a board outside of the Museum. E. Scott Santi and DG Macpherson serve on a board outside of the Museum. Form 990, Part VI, Section B, line 11b The Museum's Form 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 Chairperson of the Audit Committee and is made available to the Trustees electronically for their review, prior to electronically filing with the Internal Revenue Service. 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. From time to time, the Museum conducts business with publicly traded companies at which certain Museum board members have an employment or board relationship. Business with these companies is entered into at arms-length and through the Museum's standard procurement process without influence from the interested board member(s). Any conflicts are resolved when interested board members excuse themselves when voting on matters related to the public company in which they serve. Form 990, Part VI, Section B, line 15 The Compensation Committee of the Board of Directors oversees and approves the compensation for the CEO. All members of the Compensation Committee are independent. The process consists of: 1. The Compensation Committee meets annually to review and make decisions on CEO compensation. 2. Individual performance is evaluated against goals and objectives that support MSI's mission and strategic priorities. 3. From time to time, HR prepares a compensation benchmark analysis consisting of peer institutions to ensure executive compensation remains competitive within industry and reasonable. 4. Each year, MSI leadership team determines if merit increases will be awarded to Museum staff. The Chief of People and Culture facilitates and drives this process to ensure consistency and fairness across the Museum. 5. The process is contemporaneously documented. Form 990, Part VI, Section C, line 18 The Museum posted a copy of its Form 990 on its website and made copies of Form 990 and 990-T publicly available upon request. As the Museum filed the application for recognition of exemption, Form 1023 before July 15, 1987, it need not be made publicly available. Form 990, Part VI, Section C, line 19 The Museum's annual report and the financial statements are made available to the public via the Museum's website and upon request, respectively. Governing documents and conflict of interest policy are available to the public upon request for the same period of disclosure as set forth in IRC section 6104(d). Form 990, Part XI, line 9: Change in Value of Life Insurance Policy 20,995. Gain (Loss) on Film Consortium Investment 4,963. Change in Value of Asset Retirement Obligation -32,595. Change in Value of Interest Rate Swap 1,380,174.