2022-11-14T15:05:32-06:00 2022-06-30 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2021-07-01 560529944 DISCOVERY PLACE INC DISC 7043481964 301 NORTH TRYON STREET CHARLOTTE NC 28202 CATHERINE WILSON HORNE PRESIDENT & CEO 7043481964 2022-11-10 1 CATHERINE WILSON HORNE 999009999 AMANDA ADAMS P00748038 7043771678 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z CATHERINE WILSON HORNE 301 NORTH TRYON STREET CHARLOTTE NC 28202 15438441 0 X WWW.DISCOVERYPLACE.ORG X 1947 NC TRANSFORMATIVE SCIENCE, NATURE, AND DESIGN EXPERIENCES PROVIDED FOR OVER 360,000 GUESTS. 29 29 213 140 46280 22812 6154077 9983774 1605029 4743163 347 -147527 451952 633564 8211405 15212974 0 0 0 0 5075329 6801894 0 0 822114 3752500 5363086 8827829 12164980 -616424 3047994 119228649 120059399 3817351 4131013 115411298 115928386 X WE BRING SCIENCE, NATURE, AND DESIGN TOGETHER TO CREATE TRANSFORMATIVE EXPERIENCES THAT ENABLE OUR COMMUNITY TO UNDERSTAND, ENJOY, AND APPLY SCIENCE TO THEIR LIVES. 0 0 8991824 5330447 EDUCATIONAL PROGRAMS, EXPERIENCES AND EXHIBITS: DISCOVERY PLACE, INC. OPERATES FOUR MUSEUMS SERVING OVER 360,213 GUESTS ANNUALLY INCLUDING NEARLY 44,607 THROUGH AN ECONOMIC ACCESSIBILITY PROGRAM. SIGNIFICANT PROGRESS WAS MADE ON ONE CAPITAL FACILITIES PROJECT IN FISCAL YEAR 2022: DEVELOPMENT DESIGN WAS COMPLETED AND CONSTRUCTION DOCUMENT PHASE ACHIEVED 50% COMPLETION FOR THE NEW DISCOVERY PLACE NATURE FACILITY SCHEDULED TO OPEN IN LATE 2024/EARLY 2025. DURING FISCAL YEAR 2022, WE RECOGNIZED RESTRICTED CONTRIBUTION REVENUE RELATED TO THE FUTURE CONSTRUCTION OF DISCOVERY PLACE NATURE AND INCURRED INCREMENTAL EXPENSES TO SUPPORT THE DEVELOPMENT EFFORTS OF CAPITAL FACILITIES PROJECTS. ADDITIONALLY, DISCOVERY PLACE INVESTED IN A RENOVATION AND UPGRADE OF OUR IMAX THEATER WHICH WAS COMPLETED IN EARLY 2022. THESE ACTIVITIES ARE REFLECTED IN THE OVERALL REVENUE AND SUPPORT.IN FISCAL 2022, DISCOVERY PLACE OPENED THE NEWLY NAMED AND RENOVATED ACCENTURE IMAX DOME THEATER FEATURING IMAX LASER PROJECTION, A 12-CHANNEL SOUND SYSTEM, AND DIGISTAR 7 PLANETARIUM SOLUTION. SINCE OPENING IN FEBRUARY OF 2022, IT HAS WELCOMED OVER 19,000 VISITORS. THE NEW EQUIPMENT HAS ALLOWED DISCOVERY PLACE TO EXPAND OUR CONTENT OFFERINGS TO HOLLYWOOD, PLANETARIUM, AND ALTERNATIVE CONTENT LIKE CONCERTS AND IMMERSIVE SHOWS. ADDITIONALLY, THIS HAS PROVIDED AN OPPORTUNITY TO ATTRACT ADULT AUDIENCES AND BROADEN OUR REACH TO NEW AUDIENCES.OUTREACH/YOUTH DEVELOPMENT/SUMMER CAMPS/WORKSHOPS: 29,576OUTREACH AND THE DIGITAL STUDIO PROGRAMMING SERVED OVER 27,192 STUDENTS AND IMPLEMENTED 957 PROGRAMS IN FISCAL 2022. BEYOND SCHOOL DAY PROGRAMS, THIS WAS A STRONG YEAR WITH MULTIPLE AFTERSCHOOL CONTRACTS ALLOWING US TO SERVE YOUTH IN OUR COMMUNITY WITH STEM HANDS-ON LEARNING OVER MULTIPLE VISITS, WHICH PROVIDES A DEEPER DIVE FOR STUDENTS. YOUTH DEVELOPMENT PROGRAMMING IN FISCAL 2022 INCLUDED SEVERAL PROGRAMS TARGETING YOUTH IN MIDDLE - HIGH SCHOOL. THE STEM PATHWAY PROGRAM SUCCESSFULLY COMPLETED ONE COHORT OF 14 TEENS IN 14 SESSIONS OF PROFESSIONAL DEVELOPMENT AND WORKPLACE EMPLOYMENT COMPONENT. THE STEM APPRENTICE PROGRAM WAS ABLE TO ONBOARD 106 VOLUNTEERS TO ASSIST WITH CAMP AND MUSEUM PROGRAMMING, INCLUDING TWO MAYORS YOUTH EMPLOYMENT INTERNS. GIRLS IN STEM SUCCESSFULLY SERVED 23 UNIQUE STUDENTS OVER 138 ENGAGEMENTS THROUGH ON-SITE PROGRAMMING. YOUTH DEVELOPMENT SERVED OVER 258 STUDENTS DURING FY22.SUMMER CAMPS SERVED 1,694 CHILDREN ACROSS THREE DISCOVERY PLACE LOCATIONS - SCIENCE, NATURE AND KIDS. IT WAS ANOTHER SUCCESSFUL SEASON OF LEARNING WITH WEEKLY THEMES FOR CHILDREN IN PREK-8TH GRADE. ADDITIONALLY, IN FY22 WE RELAUNCHED OUR IN-PERSON HOMESCHOOL CLASSES FOR STUDENTS IN PREK-8TH GRADE. WE SERVED 432 STUDENTS THROUGH MONTHLY HOMESCHOOL OFFERINGS ALIGNED SCIENCE STANDARDS FOR EACH GRADE BAND. STUDENTS PARTICIPATED IN CLASSES SUCH AS BASICS OF BIOCHEMISTRY TO MOTORS, CIRCUITS, AND ART. EDUCATIONAL MERCHANDISE RELATED TO THE MUSEUM'S EXEMPT PURPOSE IS OFFERED FOR SALE TO MUSEUM VISITORS AS AN EXTENSION OF THE LEARNING EXPERIENCE PROVIDED BY THE MUSEUM. 8991824 1 1 0 0 0 0 0 1 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 24 0 1 213 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC SC X X CATHERINE W HORNE 7043481964 301 NORTH TRYON STREET CHARLOTTE NC 28202 PAUL CAMUTI BOARD CHAIR 4.00 X X 0 0 0 MARTY FOLEY GOVERNANCE VICE CHAIR 4.00 X X 0 0 0 ADITYA BHASIN EXTERNAL AFFAIRS VICE CHAIR 4.00 X X 0 0 0 DOUG EASMANN INTERNAL AFFAIRS VICE CHAIR 4.00 X X 0 0 0 JOCLYN BALANDA SECRETARY 4.00 X X 0 0 0 JASON BERND TRUSTEE 2.00 X 0 0 0 MELODY BIRMINGHAM TRUSTEE 2.00 X 0 0 0 TERA BLACK TRUSTEE 2.00 X 0 0 0 LAURA BOWLES TRUSTEE 2.00 X 0 0 0 RICH CAMPBELL TRUSTEE 2.00 X 0 0 0 FRANK CHATMAN TRUSTEE 2.00 X 0 0 0 ALFRED DAWSON TRUSTEE 2.00 X 0 0 0 BRYAN DELANEY TRUSTEE 2.00 X 0 0 0 JIM DUNN TRUSTEE 2.00 X 0 0 0 TODD GORELICK TRUSTEE 2.00 X 0 0 0 STEFANIE HOLLAND TRUSTEE 2.00 X 0 0 0 BRIAN LEARY TRUSTEE 2.00 X 0 0 0 JENNIFER MCCONNELL TRUSTEE 2.00 X 0 0 0 LINDSAY MCCULLOUGH TRUSTEE 2.00 X 0 0 0 CHARLIE MORRIS TRUSTEE 2.00 X 0 0 0 CHRIS PERRI TRUSTEE 2.00 X 0 0 0 SAGAR RATHIE TRUSTEE 2.00 X 0 0 0 STEPHANIE SADOWSKI TRUSTEE 2.00 X 0 0 0 RICK TANKERSLEY TRUSTEE 2.00 X 0 0 0 SUREH VENKATARAYALU TRUSTEE 2.00 X 0 0 0 DEREK WANG TRUSTEE 2.00 X 0 0 0 VICTORIA WATLINGTON TRUSTEE 2.00 X 0 0 0 NAZY WEEKS TRUSTEE 2.00 X 0 0 0 TOM ZWENG TRUSTEE 2.00 X 0 0 0 CATHERINE WILSON HORNE PRESIDENT & CEO 55.00 X 410344 0 38044 ANNE N IBEKWE CHIEF FINANCIAL OFFICER 55.00 X 150672 0 17416 SARAH B LANE CHIEF ADVANCEMENT OFFICER 55.00 X 171524 0 22229 TIFFERNEY WHITE CHIEF LEARNING OFFICER 55.00 X 169291 0 21737 ERVIN GOURDINE CHIEF TALENT OFFICER 55.00 X 128471 0 17503 HEATHER NORTON CHIEF SCIENCE OFFICER 55.00 X 116506 0 10593 COURTNEY HURD SR DIRECTOR DEVELOPMENT 40.00 X 113134 0 6862 MARYBETH N SIMON CHIEF OF STAFF 40.00 X 124100 0 10847 MICHAEL KEATING FORMER CHIEF OPERATING OFFICER 40.00 X 138863 0 16719 1522905 0 161950 9 1 1 0 THE BUDD GROUP PO BOX 890856 CHARLOTTE NC 28289 JANITORIAL 487606 QUATREFOIL 29 C STREET LAUREL MD 20707 EXHIBIT DESIGN 358308 SPARROW AUDIO VISUAL ENTERTAINMENT 3590B US HWY 31 S 311 PELHAM AL 35124 CINEMA INSTALLATION 283450 CAPACITY INTERACTIVE CONSULTING LLC 1239 BROADWAY STE 1103 NEW YORK NY 10001 DIGITAL MARKETING 268300 SHERPA LLC 1001 MOREHEAD SQUARE DR STE 600 CHARLOTTE NC 28203 ACCOUNTING 170400 13 6126880 3856894 14102 9983774 ADMISSIONS/WORKSHOPS 713990 3869296 3869296 MEMBERSHIP FEES 713990 849447 849447 24420 24420 4743163 316 316 147843 -147843 -147843 -147843 289971 77624 212347 212347 PARKING REVENUE 532000 421217 374937 46280 421217 15212974 5330447 46280 -147527 X 1099194 205990 680836 212368 4556623 3338512 818915 399196 145274 86855 43577 14842 585288 481217 62792 41279 415515 277759 95386 42370 13761 13761 75825 10000 65825 1486209 1219604 247160 19445 533936 512889 7722 13325 488097 340682 108474 38941 195637 82228 102717 10692 445037 442409 2082 546 66784 38021 25533 3230 90387 52691 37445 251 4116 4116 1038389 1038389 113851 81957 31894 EXHIBIT/MUSEUM PROGRAMS 534689 534629 60 PROGRAM SUPPLIES 123741 117225 6516 REPAIRS & MAINTENANCE 121544 121039 359 146 UBIT -5897 -5897 36980 9728 8285 18967 12164980 8991824 2351042 822114 1374813 6569846 1820867 290798 4236425 3366212 339273 286814 3160 99875 336295 263175 48152945 36393186 11100350 11759759 193912 189868 8649936 9112612 300000 300000 90873618 87820440 119228649 120059399 1435865 1665210 2381486 2465803 3817351 4131013 X 15494207 17155165 99917091 98773221 115411298 115928386 119228649 120059399 X 3047994 -517687 764445 -2777664 X 0 1 X 1 1 1 X 12603973 4132159 4246813 6154077 9983774 37120796 2805263 2844691 2809030 2789279 4479075 15727338 15409236 6976850 7055843 8943356 14462849 52848134 6093487 46754647 104019 114476 97316 694 20426 336931 27261 37013 33046 20532 22713 140565 53325630 30137479 0.87680 0.80480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 6457565 -635074 242761 5579730 5186711 1512650 241796 6457565 5364429 55315 233033 5186711 5285779 168867 142816 233033 5364429 5230057 282443 226721 5285779 0.01558 0.98442 0.00000 0 0 16770773 8361238 8409535 3192735 2613521 579214 28189437 25418427 2771010 11759759 POOLED INVESTMENTS - FFTC 9112612 F 9112612 BENEFICIAL INTERESTS IN TRUSTS 25098839 DEFERRED COMMITMENT FROM CITY OF CHARLOTTE 54124626 LIFE INSURANCE POLICY CONTRIBUTION 23493 DEFERRED COMMITMENT FROM TOWN OF HUNTERSVILLE 6532515 DEFERRED COMMITMENT FROM TOWN OF ROCKINGHAM 1605225 DEFERRED 457(B) ASSET 435742 87820440 X 16474322 -517687 4479075 -2777664 1183724 15290598 -77624 -77624 15212974 15957234 3714630 77624 3792254 12164980 0 12164980 PART III, LINE 1A: DONATED COLLECTIONS RECEIVED SINCE DISCOVERY PLACE'S INCEPTION ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION, AS THEY ARE HELD FOR PUBLIC EXHIBITION AND EDUCATION RATHER THAN FOR FINANCIAL GAIN. PART III, LINE 4: COLLECTION OF NATURAL HISTORY OBJECTS WHICH INCLUDE ROCKS AND MINERALS, SHELLS, FOSSILS, AND TAXIDERMY OBJECTS USED IN PUBLIC EXHIBITIONS IN THE MUSEUM AND FOR REFERENCE MATERIALS IN EDUCATION PROGRAMS CONDUCTED BY THE MUSEUM. PART V, LINE 4: THE INTENDED PURPOSE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE OPERATIONS OF THE ORGANIZATION. ANY DISBURSEMENTS RECEIVED FROM THE ENDOWMENT FUNDS ARE USED TO SUBSIDIZE OPERATING EXPENSES. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: DISCOVERY PLACE IS EXEMPT FROM INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED DISCOVERY PLACE'S TAX POSITIONS AND CONCLUDED THAT DISCOVERY PLACE HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTERESTS -2,777,664. PART XI, LINE 4B - OTHER ADJUSTMENTS: GIFT SHOP COST OF GOODS SOLD -77,624. PART XII, LINE 2D - OTHER ADJUSTMENTS: GIFT SHOP COST OF GOODS SOLD 77,624. X X X X X 1 0 0 0 0 0 0 0 0 CATHERINE WILSON HORNE PRESIDENT & CEO 410344 0 0 0 0 0 32462 0 5582 0 448388 0 0 0 SARAH B LANE CHIEF ADVANCEMENT OFFICER 170024 0 1500 0 0 0 16843 0 5386 0 193753 0 0 0 TIFFERNEY WHITE CHIEF LEARNING OFFICER 167791 0 1500 0 0 0 16360 0 5377 0 191028 0 0 0 ANNE N IBEKWE CHIEF FINANCIAL OFFICER 149172 0 1500 0 0 0 12076 0 5340 0 168088 0 0 0 MICHAEL KEATING FORMER CHIEF OPERATING OFFICER 101357 0 2285 0 35221 0 14067 0 2652 0 155582 0 0 0 PART I, LINE 4A MICHAEL KEATING RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $35,221 DURING 2021. FORM 990, PART VI, SECTION B, LINE 11B ONCE PREPARED, THE IRS FORM 990 IS REVIEWED BY DISCOVERY PLACE'S CHIEF FINANCIAL OFFICER, AND PRESIDENT AND CHIEF EXECUTIVE OFFICER. ONCE REVIEWED BY MANAGEMENT, THE ACCOUNTING FIRM PRESENTS THE 990 AND AUDITED FINANCIAL STATEMENTS TO THE AUDIT COMMITTEE AND SOME BOARD MEMBERS THAT ATTEND THE MEETING. AFTER THE MEETING, MANAGEMENT EMAILS THE 990 AND THE FINANCIAL AUDIT REPORT TO ALL BOARD MEMBERS AND GIVES THEM A WEEK TO REVIEW AND ASK ANY QUESTIONS. ANY QUESTIONS RAISED ARE ANSWERED TO THE BOARD'S SATISFACTION. IF THERE ARE NO FURTHER QUESTIONS, MANAGEMENT WILL INSTRUCT THE ACCOUNTING FIRM TO FINALIZE THE RETURN AND FILE WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUALLY (BY RE-SIGNING THE CONFLICT OF INTEREST AGREEMENT) ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS. ALL OFFICERS, DIRECTORS, TRUSTEES AND EMPLOYEES ARE ENCOURAGED TO REPORT ANY INTERESTS THAT COULD GIVE RISE TO CONFLICTS THROUGHOUT THE YEAR. EMPLOYEES RECEIVE PERIODIC TRAINING ON THE DEFINITION OF CONFLICT OF INTEREST. ANY NEW BUSINESS RELATIONSHIPS THAT MAY GIVE RISE TO CONFLICTS ARE INVESTIGATED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE DETERMINED AND APPROVED THE CEO AND OTHER OFFICERS' COMPENSATION THROUGH THE FOLLOWING PROCESS: A FORMAL EVALUATION/REVIEW OF THE INDIVIDUAL'S PERFORMANCE. A REVIEW OF BENCHMARKING DATA FROM LIKE ORGANIZATIONS. TAKING INTO CONSIDERATION THE STATE OF THE DISCOVERY PLACE'S FINANCIAL POSITION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE PERIOD OF TIME SET FORTH IN SECTION 6104(D). THE REQUEST CAN BE FULFILLED BY PROVIDING A COPY OF SAID DOCUMENTS OR ALLOWING INSPECTION AT THE ORGANIZATION'S OFFICE. FORM 990, PART IX, LINE 11G CREATIVE & PRODUCTION: PROGRAM SERVICE EXPENSES 29,750. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 1,012. TOTAL EXPENSES 30,762. BENEFIT ADMINISTRATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,300. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,300. RECRUITING: PROGRAM SERVICE EXPENSES 297. MANAGEMENT AND GENERAL EXPENSES 16,547. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,844. OTHER CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 738,513. MANAGEMENT AND GENERAL EXPENSES 98,852. FUNDRAISING EXPENSES 2,342. TOTAL EXPENSES 839,707. CONSULTING FEES: PROGRAM SERVICE EXPENSES 279,716. MANAGEMENT AND GENERAL EXPENSES 80,694. FUNDRAISING EXPENSES 16,091. TOTAL EXPENSES 376,501. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 171,328. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 171,328. PAYROLL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 42,767. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 42,767. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTERESTS -2,777,664.