2025-10-10T11:20:42+00:00 2024-12-31 331498605 Plante & Moran PLLC 10 SOUTH RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2024-01-01 362167918 SHEDD AQUARIUM SOCIETY SHED 3126923114 1200 SOUTH DUSABLE LAKE SHORE DRIVE CHICAGO IL 60605 Gary Gordon CHIEF FINANCIAL & ADMIN OFFICER 2025-10-10 true LU ANN TRAPP P01506476 3122071040 2025-10-10 2024 2025-03-06 01:10:19Z BRIDGET C COUGHLIN 1200 SOUTH DUSABLE LAKE SHORE DRIVE CHICAGO IL 60605 217971676 false X www.sheddaquarium.org X 1924 IL The Shedd Aquarium Society Operates a public aquarium to encourage the connection between animals and guests through exhibits and education programs with the goal of promoting aquatic conservation. 46 45 659 342 -57373 26650772 30332596 48005901 47568921 15981297 21888406 2336687 2184879 92974657 101974802 295353 524101 0 33710916 38518730 141348 129985 4437472 32846855 33621728 66994472 72794544 25980185 29180258 703914325 780057975 92935664 94180751 610978661 685877224 Shedd Aquarium's mission is to spark compassion, curiosity and conservation for the aquatic animal world. This is driven by the organization's vision of a world thriving with aquatic life sustained by people who love, understand and protect it. false false 34604249 228535 45611019 Conservation education: since Shedd aquarium opened our doors in 1930, Shedd has provided more than 121 million guests the opportunity to look nature in the eye through memorable experiences, while providing opportunities to learn about the animals in our care, and become inspired to make personal choices that drive action for animals. Shedd knows that when people experience aquatic animals up close, it motivates an emotional, empathetic response that shifts attitudes and fosters a personal responsibility for stewardship of local waters, global oceans, and wildlife. Shedd is committed to being one of Chicago's most accessible cultural institutions, offering Illinois resident free days throughout the year, free admission every day as the nation's first aquarium to join the museums for all program, an everyday discount for Chicago residents, students and senior citizens, and free admission for teachers, police and fire personnel, and active-duty military. Inside the aquarium walls, guests look nature in the eye through immersive exhibits, participatory programs facilitated by staff, and extraordinary experiences with animals behind the scenes. The aquarium also shares Shedd's mission by telling accessible, meaningful stories to the public through public relations and marketing efforts developed through the integration of conservation, learning programs, animal care and guest experience. As a trusted national leader in environmental education, Shedd advances experiential learning and action for all youth, teens and adults across the Chicagoland community and beyond. Programs and partnerships taking place at Shedd and in schools, nature, neighborhoods and online are designed to break barriers that prevent Chicagoans from accessing nature and its benefits, support the development of environmental literacy and build a conservation ethos that leads to short- and long-term actions to protect aquatic life. 17929902 191773 Animal care: Shedd aquarium is home to one of the world's largest and most diverse aquatic collections over 30,000 representing about 1,200 species. A global leader in animal care, Shedd's welfare and husbandry programs support onsite research efforts that contribute to the growing scientific body of knowledge about those species in the wild. Shedd's veterinarians are aquatic medicine pioneers who are advancing the fields of preventative medicine, aging care, and conservation medicine while providing world-class care that further expands understanding of how to support healthy animal populations in aquariums and in the wild. Shedd's animal care expertise lends itself to crisis response around the world. Our animal care team frequently acts as a partner and advisor to international, federal, state, and local government agencies, rescue and rehabilitation organizations, and fellow accredited zoos and aquariums for confiscated, orphaned, or injured wildlife. Shedd's animal care team contributes to the sustainability of aquatic species through advancements in aquaculture, including populations of microscopic live foods, and cooperative management and breeding of critically endangered and threatened species. 3301889 103793 Conservation science and research: Shedd is located in Chicago, but its research is worldwide. Shedd is one of only 11 Centers for Species Survival, a designation of the International Union for the Conservation of Nature, (IUCN). Shedd's Center for Species Survival focuses on freshwater within the Great Lakes watershed and globally with a concentration in the Americas. Shedd's husbandry, veterinary, and conservation programs are grounded in research that supports healthy animals at Shedd and vibrant wild populations around the world. Shedd's conservation research programs work to protect biodiversity while supporting blue economies, and field researchers often work side-by-side with citizen scientists to conserve wildlife and habitats for future generations. The aquarium's oceanic work includes more than four decades of research on species such as rock iguanas, queen conch, lobster, sharks, and corals. Closer to home, Shedd's Great Lakes research focuses on wildlife and habitat conservation issues where the aquarium's applied studies support local communities and regional agencies in developing access to nature and sound management plans for the Great Lakes and Chicago River. Onsite, Shedd's state-of-the-art facilities and animal care and science team serve as resources for research partners locally and globally. Onsite research provides valuable biological and behavioral information that informs understanding of species which are nearly impossible to study in the wild. In addition to sharing what it learns with the scientific community, Shedd's onsite work contributes to advancing animal health and welfare for aquatic species ranging from invertebrates to marine mammals. 55836040 true true false true false false false true false true true true false false true false true false false false true true false true true false false true false true true false false false false false false false false false false true false false false false false false false false false true 142 0 true 659 true true true false false false false true true false false false false false false X 46 45 true true true false false false false true true false false false true true true true true true true true false false CA CO CT DC FL GA AL HI IL KS KY LA ME MH AK MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PW PA AZ RI SC SD TN TX VI UT VT VA AR WA WV WI WY X X GARY GORDON 3126922727 1200 SOUTH DUSABLE LAKE SHORE DRIVE CHICAGO IL 60605 BRIDGET COUGHLIN PHD President/CEO 45.0 0.0 X X 874176 0 92247 David J Koo Chairman of Board 1.0 0.0 X X 0 0 0 Alex Singla Trustee 1.0 0.0 X 0 0 0 Anders Gustafsson Trustee 1.0 0.0 X 0 0 0 Andrew Nocella Trustee 1.0 0.0 X 0 0 0 Anna M Livingston Trustee 1.0 0.0 X 0 0 0 Brent Gledhill Trustee 1.0 0.0 X 0 0 0 Brian A Kenney Trustee 1.0 0.0 X 0 0 0 Cara Pan Trustee 1.0 0.0 X 0 0 0 Charles Smith Trustee 1.0 0.0 X 0 0 0 David Foulkes Trustee 1.0 0.0 X 0 0 0 David L Epstein Trustee 1.0 0.0 X 0 0 0 Dominic Curcio Trustee 1.0 0.0 X 0 0 0 Elizabeth Hartigan Connelly Trustee 1.0 0.0 X 0 0 0 Ellen L O'Connor Trustee 1.0 0.0 X 0 0 0 Ginevra Reed Ralph Trustee 1.0 0.0 X 0 0 0 H John Gilbertson Jr Trustee - Part-Year 1.0 0.0 X 0 0 0 Jane L Warner Trustee 1.0 0.0 X 0 0 0 Jeffrey Wright Trustee 1.0 0.0 X 0 0 0 Jerry Krulewitch Trustee 1.0 0.0 X 0 0 0 John D Fumagalli Trustee 1.0 0.0 X 0 0 0 John Hesselmann Trustee 1.0 0.0 X 0 0 0 John Holmes Trustee 1.0 0.0 X 0 0 0 Joseph S Braik Trustee 1.0 0.0 X 0 0 0 Joyce St Clair Trustee 1.0 0.0 X 0 0 0 Katie Lawler Trustee 1.0 0.0 X 0 0 0 Kenneth Kuhrt Trustee 1.0 0.0 X 0 0 0 Kimberly Simios Trustee 1.0 0.0 X 0 0 0 Mark Stainton Trustee 1.0 0.0 X 0 0 0 Mary L Burke Trustee 1.0 0.0 X 0 0 0 Mary S Smith Trustee 1.0 0.0 X 0 0 0 Nancy S Searle Trustee 1.0 0.0 X 0 0 0 Neil Book Trustee 1.0 0.0 X 0 0 0 Rahul Goyal Trustee - Part-Year 1.0 0.0 X 0 0 0 Rev Michael Nabors DMin Trustee 1.0 0.0 X 0 0 0 Richard E Erwin Trustee 1.0 0.0 X 0 0 0 Richard J Tobin Trustee 1.0 0.0 X 0 0 0 Robert H Jordan PhD Trustee 1.0 0.0 X 0 0 0 Robert Lyons Trustee 1.0 0.0 X 0 0 0 Sarah N Garvey Trustee 1.0 0.0 X 0 0 0 Shannel Clubb Trustee 1.0 0.0 X 0 0 0 Steve Weller Trustee 1.0 0.0 X 0 0 0 Suzanne Yoon Trustee 1.0 0.0 X 0 0 0 Thomas N King Trustee 1.0 0.0 X 0 0 0 Tracie Haas Trustee 1.0 0.0 X 0 0 0 Tracy Souder Trustee 1.0 0.0 X 0 0 0 Tyrone C Fahner Trustee - Part-Year 1.0 0.0 X 0 0 0 William J Chase Trustee 1.0 0.0 X 0 0 0 Catherine J Casey VP & General Counsel 45.0 0.0 X 224369 0 22246 GARY GORDON Chief Financial & Admin Officer 45.0 0.0 X 383749 0 39377 Christine White SVP, External Affairs & Marketing 45.0 0.0 X 150142 0 15692 Loraine Smedley Chief Development Officer 45.0 0.0 X 289536 0 30603 Meghan Curran Chief Marketing and Experience Officer 45.0 0.0 X 375846 0 50540 Nancy Anschel SVP, Human Resources 45.0 0.0 X 260715 0 29338 Peggy E Sloan Chief Animal Conservation Officer 45.0 0.0 X 260968 0 27053 Robert Wengel SVP, Facilities and Security 45.0 0.0 X 256013 0 36380 CHARLES Knapp VP, Conservation Research 45.0 0.0 X 186094 0 34505 Danielle M DuMerer VP, Technology 45.0 0.0 X 222976 0 41066 Lisa Junkin Lopez VP, Learning and Community 45.0 0.0 X 180037 0 36950 Patricia Fraser VP, Guest Relations 45.0 0.0 X 185504 0 21108 Sarah Hezel VP, Design and Exhibits 45.0 0.0 X 215705 0 28925 4065830 0 506030 55 false true false PEPPERBMI CONSTRUCTION COMPANY LLC 411 LAKE ZURICH RD BARRINGTON IL 60010 CONSTRUCTION 67065322 VALERIO DEWALT TRAIN ASSOCIATES INC 500 N DEARBORN 9TH FLOOR CHICAGO IL 60654 ARCHITECTURAL DESIGN CONSULTANT 2381295 MONTERREY SECURITY CONSULTANTS INC 2232 S BLUE ISLAND AVE CHICAGO IL 60608 SECURITY 1617503 TWO BY FOUR LTD 10 N DEARBORN SUITE 100 CHICAGO IL 60602 ADVERTISING 1374721 HAMILL PARTNERS INC DBA CRESCENT CLEANING COMPANY 8501 W HIGGINS RD SUITE 169 CHICAGO IL 60631 CLEANING SERVICES 1345264 36 6021002 1729571 5506331 17075692 4646590 30332596 ADMISSIONS 900099 43708401 43708401 EDUCATIONAL PROGRAMS 900099 1567418 1567418 FOOD SERVICE 722210 1365580 1365580 927522 335200 0 592322 47568921 14274412 -57373 14331785 3251738 375353 2876385 0 2876385 2876385 122381944 114767950 7613994 0 7613994 7613994 103130 1729571 853571 -750441 -750441 OTHER REVENUE 900099 58935 58935 0 0 0 0 58935 101974802 45611019 -57373 26088560 354528 354528 169573 169573 3759816 973549 2073667 712600 28876764 22294848 4547848 2034068 1215234 857841 253265 104128 2426647 2018853 270707 137087 2240269 1581419 466891 191959 3036214 2916507 98032 21675 473247 473247 116261 116261 5702 5702 129985 129985 1036839 1036839 4117192 3051822 971880 93490 1837256 1837256 3490695 2813375 181478 495842 1264223 233616 978257 52350 2283333 2199682 69896 13755 1231236 831743 282650 116843 103868 62903 28919 12046 1526609 1526609 8556143 8154640 335482 66021 897465 859094 32064 6307 REPAIR AND MAINTENANCE 1693838 1625114 60876 7848 FOOD SERVICE EXPENSE 899588 899588 PROFESSIONAL DEVELOPMENT 451258 351026 87565 12667 MISCELLANEOUS EXPENSE 565435 221154 115480 228801 35326 1300 34026 0 72794544 55836040 12521032 4437472 97994316 75745313 34758779 29393895 1313173 1689670 0 0 0 0 638373 1153291 466178731 250157964 144057083 216020767 372352383 394929491 51253352 59457592 0 1546866 1667956 703914325 780057975 17816456 21174554 1281348 1460034 72065878 69535019 0 0 1771982 2011144 92935664 94180751 X 412144811 464106227 198833850 221770997 610978661 685877224 703914325 780057975 X 29180258 45585488 132817 X false true true true true X 30809058 65796315 34944299 21027556 26293278 178870506 3910464 4262058 4310481 5623216 4039318 22145537 0 34719522 70058373 39254780 26650772 30332596 201016043 23726670 177289373 2135312 5673210 8388200 16360306 16864664 49421692 0 61857 66632 45959 63234 58935 296617 250734352 179867746 0.70708 0.72722 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - MISCELLANEOUS, COLUMN A - 61857.0, COLUMN B - 66632.0, COLUMN C - 45959.0, COLUMN D - 63234.0, COLUMN E - 58935.0, COLUMN F - 296617.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 1533 false true 5702 7235 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The Aquarium devoted part of its lobbying activities to monitoring and communicating with the federal, state and local legislators and agencies in an effort to further initiatives which might benefit the aquarium. The Aquarium supported lobbying efforts in relation to the Museum in The Park coalition in support of these activities in 2024. X X X X false 380215167 1250 60822324 1602445 439436296 327594611 600 53984391 1364435 380215167 359460468 16000000 -45492866 2372991 327594611 297530640 3028007 58901821 0 359460468 277213284 266616 20324623 273883 297530640 0.7263 0.0296 0.2441 false false 1250000 1250000 136285759 69891492 66394267 145295121 115543985 29751136 73032478 64722487 8309991 110315373 110315373 216020767 Closely-held equity interests Financial derivatives PRIVATE CAPITAL 51654534 F PRIVATE CAPITAL ESG 4141691 F REAL ASSETS 3661367 F 59457592 Federal Income Taxes ACCRUED POST-RETIREMENT BENEFIT 2011144 2011144 147031621 45585488 132817 45718305 101313316 1036839 -375353 661486 101974802 72133058 375353 375353 71757705 1036839 0 1036839 72794544 Schedule D, Part III, Line 1a Collections of art - financial statement footnote LIVE ANIMAL INVENTORY THE COSTS OF PURCHASING OR COLLECTING LIVE ANIMALS ARE EXPENSED AS INCURRED. DONATED SPECIMENS ARE NOT VALUED AND, THEREFORE, ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. Schedule D, Part III, Line 4 Collections of art - description of collections The Aquarium houses one of the largest and most diverse collections of live aquatic animals in the world. Currently, this includes 693 species of fishes and 289 species of invertebrates. In addition, there are 41 species of reptiles, 14 species of amphibians, 6 species of mammals, and 14 species of birds. Altogether, the collections include 1057 animal species including 24 protected species. Schedule D, Part V, Line 4 Intended uses of endowment funds The intended uses of the endowment are to fund general operations, education programs, conservation activities, and special projects. Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Change in value split interest agreements - -5967 Actuarial gain related to retirees medical plan - 23000 Gain on extinghuisment of debt - 115784 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Gift shop Rental expenses - -375353 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Gift shop rental expenses - 375353 true Central America and the Caribbean Investments 1145670 Central America and the Caribbean 1 Program Services Conservation Research/Education 1123 Central America and the Caribbean 1 Program Services Conservation Research/Education 3256 Central America and the Caribbean 1 Program Services Conservation Research/Education 842 Central America and the Caribbean 3 Program Services Conservation Research/Education 6476 Central America and the Caribbean 1 Program Services Conservation Research 900 East Asia and the Pacific 1 Program Services Conservation Research/Education 4002 East Asia and the Pacific 1 Program Services Conservation Education 3564 East Asia and the Pacific 1 Program Services Conference Attendance 11123 East Asia and the Pacific 3 Program Services Conservation Research 7454 East Asia and the Pacific 1 Program Services Conservation Research 4170 Europe (Including Iceland and Greenland) 2 Program Services Conservation Education 21528 Europe (Including Iceland and Greenland) 2 Program Services Conference Attendance 3738 Middle East and North Africa 1 Program Services Conference Attendance 5481 North America (Canada & Mexico only) 1 Program Services Conservation Education 2002 North America (Canada & Mexico only) 1 Program Services Conservation Education 210 North America (Canada & Mexico only) 1 Program Services Conservation Education 480 North America (Canada & Mexico only) 9 Program Services Conference Attendance 28125 North America (Canada & Mexico only) 3 Program Services Conference Attendance 5373 North America (Canada & Mexico only) 3 Program Services Conservation Research 2198 North America (Canada & Mexico only) 3 Program Services Conference Attendance 5760 North America (Canada & Mexico only) 2 Program Services Conservation Research 6300 North America (Canada & Mexico only) 1 Program Services Conservation Education 1191 Central America and the Caribbean 3 Grants to recipients in region Conservation Research 73160 East Asia and the Pacific 2 Grants to recipients in region Conservation Research 96413 0 21 0 27 0 48 1221539 219000 1440539 Central America and the Caribbean Conservation Research 25697 WIRE TRANSFER 0 N/A N/A Central America and the Caribbean Conservation Research 30061 WIRE TRANSFER 0 N/A N/A Central America and the Caribbean Conservation Research 17402 WIRE TRANSFER 0 N/A N/A East Asia and the Pacific Conservation Research 36574 WIRE TRANSFER 0 N/A N/A East Asia and the Pacific Conservation Research 59839 WIRE TRANSFER 0 N/A N/A 5 0 true false true true true false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds Shedd requires reports on how funds were expended and according to plan and evaluation of results of the program's accomplishments. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual X X X X X X X true SCHULTZ & WILLIAMS ONE PENN CENTER STE 1700 PHILADELPHIA PA 19103 Fundraising Consulting and Direct Response Services false 798444 129985 668459 798444 129985 668459 CA CO CT DC FL GA AL HI IL KS KY LA ME AK MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA AR WA WV WI Gala 1832701 1729571 103130 853571 0 0 1832701 1729571 103130 853571 853571 -750441 true Alaska Sealife 301 Railway Ave Seward AK 99664 920132479 501(C)(3) 21108 Program Support CHICAGO PARK DISTRICT 4830 S Western Ave Chicago IL 60609 366005822 Gov't 211550 Program Support INSIGHT BY ANDERSON LLC DBA THE CORAL REEF AQUARIUM FISHERIES CAMPAIGN 40 Latham St Unit 2R GROTON CT 06340 851326483 92360 Program Support 2 1 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds Shedd requires reports on how funds were expended and according to plan and evaluation of results of the program's accomplishments. X X true true X X X X X false true false false false false false true false BRIDGET COUGHLIN PHD President/CEO 612134 0 237800 0 24242 0 70400 0 21847 0 966423 0 0 0 GARY GORDON Chief Financial & Admin Officer 307426 0 75000 0 1323 0 38199 0 1178 0 423126 0 35000 0 Catherine J Casey VP & General Counsel 220491 0 3000 0 878 0 13203 0 9043 0 246615 0 0 0 Loraine Smedley Chief Development Officer 289084 0 0 0 452 0 462 0 30141 0 320139 0 0 0 Meghan Curran Chief Marketing and Experience Officer 301814 0 73333 0 699 0 38199 0 12341 0 426386 0 20000 0 Peggy E Sloan Chief Animal Conservation Officer 251901 0 8000 0 1067 0 15207 0 11846 0 288021 0 0 0 Nancy Anschel SVP, Human Resources 249141 0 10000 0 1574 0 14779 0 14559 0 290053 0 0 0 Robert Wengel SVP, Facilities and Security 250448 0 5000 0 565 0 15192 0 21188 0 292393 0 0 0 Christine White SVP, External Affairs & Marketing 150012 0 0 0 130 0 0 0 15692 0 165834 0 0 0 Danielle M DuMerer VP, Technology 219657 0 3000 0 319 0 13533 0 27533 0 264042 0 0 0 Sarah Hezel VP, Design and Exhibits 208266 0 7000 0 439 0 12616 0 16309 0 244630 0 0 0 CHARLES Knapp VP, Conservation Research 182377 0 3000 0 717 0 11458 0 23047 0 220599 0 0 0 Patricia Fraser VP, Guest Relations 177479 0 7000 0 1025 0 10690 0 10418 0 206612 0 0 0 Lisa Junkin Lopez VP, Learning and Community 179873 0 0 0 164 0 11136 0 25814 0 216987 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel The President/CEO and Chief Animal Conservation Officer traveled by first class on certain trips as a result of the specific nature of particular trips. The travel was for bona fide business purpose and was not treated as taxable compensation. Schedule J, Part I, Line 1a Health or social club dues or initiation fees THE PRESIDENT/CEO WAS PROVIDED CERTAIN SOCIAL CLUB DUES; THE PORTION OF THIS BENEFIT NOT RELATED TO BONA FIDE BUSINESS PURPOSES (IF ANY) IS TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan Certain individuals received or accrued deferred compensation at risk, payable upon satisfaction of performance and remaining with the organization through a specific project period. Bridget C. Coughlin-Accrued in 2024 $50,000 to be paid in 2025. Gary Gordon- Accrued in 2024 $20,000 to be paid in 2026. Meghan Curran- Accrued in 2024 $20,000 to be paid in 2026. Schedule J, Part I, Line 7 Non-fixed payments COMPENSATION AT RISK OR INCENTIVE PAYMENTS WERE PAID TO CERTAIN PERSONS LISTED IN PART VII, SECTION A, LINE 1A AT THE DISCRETION OF THE BOARD OF TRUSTEES AND PRESIDENT/CEO. A ILLINOIS FINANCE AUTHORITY 861091967 000000000 2019-03-14 18405000 REFUNDING/REISSUANCE 2015 BONDS false false false B ILLINOIS FINANCE AUTHORITY 861091967 45204FTW5 2022-12-22 64027086 series 2022 - buildings and structures false false false A 11340000 18405000 18405000 true false true true B 65974787 721133 65253354 2024 false false true true A false false false false false false 0 0 0.0 false false 0 false false B false false false false false false 0 0 0.0 false false 0 false true A false false true false false false 0 false false false 0 false false true B false false false true false false 0 false false false 0 false false true A true B true Schedule K, Part II, Line 3 PLUS INVESTMENT EARNINGS Schedule K, Part IV, Line 2c COLUMN B Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 06/22/2024 26 3838663 Other - Fair Market Value X TRAVEL/TICKETS 1 317375 Other - Fair Market Value X SUPPLIES 2 223062 Other - Fair Market Value X EQUIPMENT 2 263689 Other - Fair Market Value X Professional Services 1 3801 Other - Fair Market Value false true false Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee of the Board of Trustees has the power and authority of the Board of Trustees and may act on behalf of the Board of Trustees between meetings of the Board, subject to certain limitations. Under the terms of the organization's bylaws, the executive committee is made up of five to ten members of the Board of Trustees elected by the board at its annual meeting; in addition, the chairperson of the Board serves as an ex officio member with a vote. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons TRUSTEE MARY SMITH AND LIFE TRUSTEE STEVE SMITH - Family relationship, TRUSTEES BRIAN KENNEY AND ELIZABETH CONNELLY - Business relationship, TRUSTEES JOHN HOLMES AND BOB LYONS - Business relationship, TRUSTEES RICH TOBIN AND TOM KING - Business relationship Form 990, Part VI, Line 3 Delegation of management duties The organization contracts with Sodexo America, LLC and Event Network, Inc. to manage and operate food services and gift shops, respectively, at the aquarium. Form 990, Part VI, Line 4 Significant changes to organizational documents By-law changes - Section 4.2: Changed number of Trustees Section 4.5: Clarified role of Ex-Officio Honorary Trustees Section 4.6: Replaced quarterly meeting requirement with a minimum of two meetings per year Section 4.10: Updated unanimous consent process to reflect current practice Section 4.11: Updated waiver of notice process to reflect current practice Section 4.13: Clarified process for removing a Trustee Section 4.2: Removed the need to elect Officers of the Corporation every 3 years; instead they are elected until they resign, die, or are removed by the board Section 5.4: Established a line of succession if Board Chair is not available Section 6.1: Established four governance committees and the ability of the board to create programmatic committees by resolution Section 6.2: Clarified Executive Committee election process Section 6.3: Updated the mandate of the Nominating & Governance committee Section 6.4: Updated the mandate of the Finance & Audit Committee Section 6.6: Established a line of succession if a Committee Chair is not available Form 990, Part VI, Line 11b Review of form 990 by governing body The completed form 990, including schedules, was made available to the Board of Trustees. Trustees were requested to review the final form 990, including schedules. Any questions or comments were directed to the organization's Chief Financial and Administrative Officer. Form 990, Part VI, Line 12c Conflict of interest policy Annually, trustees and senior management are asked to review the organization's code of ethics and complete a code of ethics statement and questionnaire, which includes their agreement to report promptly any reportable matters. Such statements are reviewed and evaluated by the Board Chairman, or their designee, for any conflict. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Human Capital Committee (the Committee) of the Board of Trustees is responsible for the annual review of the compensation of the officers and key employees of the organization. All members of the committee are independent. In determining the compensation of the President/CEO, the Committee evaluates her performance against previously agreed upon criteria, considers comparable market data, then debates and documents its recommendation of reasonable compensation. In determining the compensation of other officers and key employees, the same procedures are performed; however, the committee considers the CEO's evaluation of the staffs' performance. The recommendations are then taken to the Executive Committee of the Board for final review and action. Form 990, Part VI, Line 19 Required documents available to the public CERTAIN OF THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. ITS AUDITED FINANCIAL STATEMENTS AND PUBLIC-DISCLOSURE COPIES OF ITS FORM 990 ARE INCLUDED ON ITS WEB SITE. Form 990, Part VIII, Line 2f Other Program Service Revenue All other program service revenue - Total Revenue: 927522, Related or Exempt Function Revenue: 335200, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 592322; Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS - -5967; Actuarial gain on medical plan - 23000; Gain on extinguishment of debt - 115784;