2014-05-13T08:18:33-05:00 2013-09-30 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBOROUGH MA 01581 990 2012-10-01 237168440 EARTHWATCH INSTITUTE INC EART 8007760188 114 WESTERN AVENUE BOSTON MA 02134 ARCOTT MAHESH 6175222766 2014-04-22 1 MATTHEW TROIANO CPA P01263939 5083669100 2014-04-22 2012 2015-11-30 17:44:51Z ARCOTT MAHESH 114 WESTERN AVENUE BOSTON MA 02134 9568099 0 X WWW.EARTHWATCH.ORG X 1972 MA EARTHWATCH INSTITUTE IS A LEADER IN CITIZEN SCIENCE AND ENGAGES PEOPLE WORLDWIDE IN SCIENTIFIC FIELD RESEARCH AND EDUCATION TO PROMOTE THE UNDERSTANDING AND ACTION NECESSARY FOR A SUSTAINABLE ENVIRONMENT. SINCE 1971, EARTHWATCH HAS EMPOWERED PEOPLE OF ALL AGES AND WALKS OF LIFE TO CONTRIBUTE TO HUNDREDS OF CRUCIAL, HANDS-ON ENVIRONMENTAL RESEARCH PROJECTS AROUND THE GLOBE. 15 15 59 2100 0 0 8308689 8730524 0 0 -73342 121745 17452 4804 8252799 8857073 2689891 2330501 0 0 3631683 3749402 0 0 383670 2840655 2469549 9162229 8549452 -909430 307621 5861848 6664641 1299851 1653605 4561997 5011036 X EARTHWATCH INSTITUTE IS A LEADER IN CITIZEN SCIENCE AND ENGAGES PEOPLE WORLDWIDE IN SCIENTIFIC FIELD RESEARCH AND EDUCATION TO PROMOTE THE UNDERSTANDING AND ACTION NECESSARY FOR A SUSTAINABLE ENVIRONMENT. SINCE 1971, EARTHWATCH HAS EMPOWERED PEOPLE OF ALL AGES AND WALKS OF LIFE TO CONTRIBUTE TO HUNDREDS OF CRUCIAL, HANDS-ON ENVIRONMENTAL RESEARCH PROJECTS AROUND THE GLOBE. 0 0 7018331 2330501 4804 PUBLIC PROGRAM:EARTHWATCH'S PUBLIC PROGRAM INVOLVES A GLOBAL COMMUNITY OF RESEARCHERS, CONSERVATION VOLUNTEERS, EDUCATORS, STUDENTS, NGO'S AND BUSINESSES WORKING TOGETHER TOWARD A SUSTAINABLE ENVIRONMENT. THROUGH ITS EXPEDITIONS, EARTHWATCH ENGAGES INDIVIDUALS IN HANDS-ON ENVIRONMENTAL RESEARCH ALONGSIDE LEADING SCIENTISTS, WHERE THEY ACTIVELY PARTICIPATE IN RESEARCH THAT CONTRIBUTES TO THE UNDERSTANDING OF ENVIRONMENTAL CHALLENGES. THE PROGRAM SUPPORTS OVER 45 FIELD RESEARCH PROJECTS ACROSS NEARLY 30 COUNTRIES. OF THE $9 MILLION IN ANNUAL REVENUE EARTHWATCH U.S. RAISES, APPROXIMATELY $3.5 MILLION RELATES TO THE EARTHWATCH PUBLIC PROGRAM. OVER 2,100 PEOPLE PARTICIPATED ON EARTHWATCH FIELD PROGRAMS DURING THE YEAR, OF WHICH 1,175 WERE PUBLIC VOLUNTEERS. THESE INDIVIDUALS CONTRIBUTED OVER 60,000 HOURS TO RESEARCH DATA COLLECTION. THIS HAS ENABLED OUR AFFILIATED SCIENTISTS TO PRODUCE 65 PEER REVIEWED ARTICLES AND CONTRIBUTE TO 35 ENVIRONMENTAL MANAGEMENT PLANS AND POLICIES. EARTHWATCH IS DEDICATED TO CREATING AN ENVIRONMENTAL LEGACY THROUGH ITS RESEARCH PROJECTS, EXPERIENTIAL EDUCATIONAL PROGRAMS AND HANDS-ON VOLUNTEER OPPORTUNITIES IN FIELD RESEARCH.TRUSTS FOUNDATIONS AND INDIVIDUALS:APPROXIMATELY $1.4 MILLION OF EARTHWATCH'S REVENUE PERTAINS TO GRANTS FROM TRUSTS, FOUNDATIONS AND INDIVIDUALS. THIS REVENUE WAS APPLIED TO UNDERWRITE THE EARTHWATCH FIELD RESEARCH PROGRAMS AND TO FUND THE PARTICIPATION OF APPROXIMATELY 35 TEACHERS AND 60 STUDENTS ON THESE PROGRAMS. SURVEYS CONDUCTED ON BEHALF OF EARTHWATCH INDICATE THAT THESE STUDENTS AND TEACHERS WERE PROFOUNDLY IMPACTED BY THEIR EARTHWATCH EXPERIENCE. IN ONE SURVEY OVER 60% OF STUDENTS REPORTED THAT THE EXPERIENCE SIGNIFICANTLY OR VERY SIGNIFICANTLY "CHANGED THE WAY THEY THINK ABOUT THE PURPOSE OF THEIR LIFE". THIS SAME SURVEY FOUND THAT OVER 70% OF STUDENT PARTICIPANTS BECAME MUCH MORE INTERESTED IN SCIENCE OUTSIDE THE CLASSROOM, A MAJORITY PURSUED ADDITIONAL SCIENCE AND ENVIRONMENTALLY RELATED COURSE WORK IN BOTH HIGH SCHOOL AND COLLEGE AND 46% CHOSE A SCIENCE MAJOR. A SURVEY OF TEACHERS FOUND THAT MORE THAN HALF THE TEACHERS REPORTED THAT THEIR PARTICIPATION ON THE PROJECTS HAS VERY SIGNIFICANTLY: - INCREASED THEIR SENSE OF PERSONAL CONNECTION TO THE NATURAL WORLD - INCREASED THEIR COMMITMENT TO TAKE POSITIVE ACTION TOWARDS A SUSTAINABLE ENVIRONMENT OR COMMUNITY - MOTIVATED THEM TO INCLUDE MORE ENVIRONMENTAL CONSIDERATIONS IN THEIR DAY-TO-DAY DECISIONS MAKINGCORPORATE PROGRAMS:EARTHWATCH U.S. HAS PARTNERSHIPS WITH SEVERAL CORPORATE DONORS INCLUDING HSBC, ALCOA, UPS AND ERNST AND YOUNG ENABLING THEM TO SEND THEIR STAFF ON EARTHWATCH FIELD RESEARCH PROGRAMS WORLDWIDE FOR HANDS ON EXPERIENCE AND ENGAGEMENT IN ISSUES OF ENVIRONMENTAL AWARENESS, CORPORATE RESPONSIBILITY AND INCORPORATING SUSTAINABLE PRACTICES INTO THEIR COMPANY'S CULTURE IN ORDER TO MEET THEIR INTERNALLY DRIVEN SUSTAINABILITY GOALS. DURING THE FISCAL YEAR ENDED SEPTEMBER 2013, EARTHWATCH ENGAGED OVER 800 CORPORATE EMPLOYEES WORLDWIDE ON ITS PROGRAMS. TOTAL REVENUE FROM CORPORATE PROGRAMS WAS APPROXIMATELY $2.6 MILLION. DATA FROM THESE RESEARCH PROJECTS IS SHARED WITH NATIONAL AND LOCAL GOVERNMENTS AS WELL AS LOCAL INSTITUTIONS FOR USE IN ADVANCING POLICIES AND ACTIONS IN THE RELEVANT AREAS. 7018331 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 11 0 1 59 1 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA AK AZ AR CA CT DC FL GA HI IL KS KY ME MD MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X X X LARRY STAUB 9784501211 114 WESTERN AVENUE BOSTON MA 02134 WHITNEY L JOHNSON 1.00 X 0 0 0 AMY RUTH BORUN 1.00 X X 0 0 0 RICHARD M BURNES JR 1.00 X 0 0 0 GEORGE A EBERSTADT 1.00 X 0 0 0 G KEITH FUNSTON JR 1.00 X X 0 0 0 GARY F GOLDRING 1.00 X 0 0 0 DONALD R KENDALL JR 1.00 X 0 0 0 DR MARGARET D LOWMAN 1.00 X 0 0 0 DR WILLIAM R MOOMAW 1.00 X 0 0 0 DR DANIEL I RUBENSTEIN 1.00 X 0 0 0 ROBERT STACK 1.00 X 0 0 0 RUTH C SCHEER 1.00 X X 0 0 0 ALEXANDRA GOELET 1.00 X 0 0 0 KEVIN J ANTON 1.00 X 0 0 0 SAMUEL M HAMILL JR 1.00 X 0 0 0 EDWARD WILSON 40.00 X 184849 0 13113 ARCOTT MAHESH 20.00 X 64002 0 0 LISA CAMPBELL 40.00 X 51595 0 8217 LAWRENCE MASON 40.00 X 0 0 0 MARK CHANDLER 40.00 X 113546 0 3780 JAMES FRY 40.00 X 100656 0 7890 BRETT RUDY 40.00 X 108141 0 0 622789 0 33000 4 0 1 1 CHURCHILL NORTHERN STUDIES CENTER 54 JAMES ST PO BOX 610 CHURCHILL MB R0B0E0 CA SCIENTIST 103753 AMAZONECO EIRL-BODMER MALECON TARAPACA 332 IQUITOS LORETO PE SCIENTIST 101930 2 8730524 8730524 78016 78016 754755 711026 43729 43729 43729 MISCELLANEOUS INCOME 900099 4804 4804 4804 8857073 4804 0 121745 522532 522532 193192 193192 1614777 1614777 387449 64429 181276 141744 2809860 2341627 446334 21899 34195 27789 5400 1006 166770 109070 50883 6817 351128 282366 53977 14785 19266 5481 13785 93906 45478 48428 292987 199780 49707 43500 161010 154665 6345 360914 234263 37372 89279 23215 14756 8459 295138 187522 65580 42036 477178 345551 121508 10119 35830 22705 7998 5127 120882 96018 20532 4332 PROGRAM EXPENSES 510627 497868 12722 37 MISCELLANEOUS 77285 58097 16282 2906 DUES AND SUBSCRIPTIONS 837 837 BUILDING REPAIRS AND MA 358 292 66 116 73 26 17 8549452 7018331 1147451 383670 220706 650020 3737 3739 2659095 2552949 94448 142993 1900667 1835277 68658 65390 2179343 2605001 635861 644549 5861848 6664641 617231 676810 682620 976795 1299851 1653605 X -571449 -277111 3570984 3708994 1562462 1579153 4561997 5011036 5861848 6664641 307621 141418 0 X X 0 1 X 1 0 X 7905109 7952618 9668454 8308689 8730524 42565394 7905109 7952618 9668454 8308689 8730524 42565394 7027192 35538202 67173 47052 70066 46597 78016 308904 91281 109570 44269 17452 4804 267376 43141674 0.82380 0.85970 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1719904 4926 147524 47679 1824675 1531078 188826 1719904 1075698 495074 -29904 9790 1531078 966935 108763 1075698 970529 -3594 966935 0.86540 0.13460 0 0 64486 19687 44799 684702 667289 17413 1151479 1148301 3178 65390 LEASE DEPOSIT 25000 INTANGIBLE ASSETS 66895 INTEREST IN INSURANCE POLICY CONTRACTS 433108 DUE FROM AFFILIATES, NET 119546 644549 X 9094242 141418 95751 237169 8857073 0 8857073 8645203 95751 95751 8549452 0 8549452 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: EARTHWATCH'S ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE LONG-TERM YIELDS WHILE ASSUMING A CONSERVATIVE RISK. THE ENDOWMENT ASSETS ARE USED TO GENERATE INCOME, BASED ON AN APPROVED SPENDING POLICY OF THE BOARD USED TO SUPPORT PROGRAM AND ADMINISTRATIVE ACTIVITIES OF EARTHWATCH. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: EARTHWATCH FOLLOWS THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD, WHICH REQUIRES EARTHWATCH TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO ADJUST ITS ASSETS AND LIABILITIES RELATED TO UNRECOGNIZED TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF SEPTEMBER 30, 2013, EARTHWATCH DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS TO REPORT. NO INCOME TAX PROVISION HAS BEEN INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. EARTHWATCH IS SUBJECT TO AUDIT BY TAX AUTHORITIES. EARTHWATCH BELIEVES THAT THEY HAVE APPROPRIATE SUPPORT FOR THE POSITIONS TAKEN ON THEIR INFORMATION RETURNS. 1 CENTRAL AMERICA AND THE CARIBBEAN - 1 1 PROGRAM SERVICES RESEARCH, EDUCATION, ENGAGEMENT 40343 SOUTH AMERICA - ARGENTINA, BOLIVIA, 1 8 PROGRAM SERVICES RESEARCH, EDUCATION, ENGAGEMENT 387323 2 9 0 0 2 9 427666 0 427666 SOUTH AMERICA - ARGENTINA, BOLIVIA, PRINCIPAL INVESTIGATOR 167534 WIRE TRANSFER EUROPE (INCLUDING ICELAND & GREENLAND) - PRINCIPAL INVESTIGATOR 389540 WIRE TRANSFER SUB-SAHARAN AFRICA - ANGOLA, PRINCIPAL INVESTIGATOR 147754 WIRE TRANSFER CENTRAL AMERICA AND THE CARIBBEAN - PRINCIPAL INVESTIGATOR 206900 WIRE TRANSFER NORTH AMERICA - CANADA AND MEXICO, BUT PRINCIPAL INVESTIGATOR 192025 WIRE TRANSFER EAST ASIA AND PACIFIC / CHINA PRINCIPAL INVESTIGATOR 52323 WIRE TRANSFER PRINCIPAL INVESTIGATOR EAST ASIA AND PACIFIC / CHINA 3 109127 WIRE TRANSFER PRINCIPAL INVESTIGATOR EUROPE (INCLUDING ICELAND & GREENLAND) - 6 213796 WIRE TRANSFER PRINCIPAL INVESTIGATOR NORTH AMERICA - CANADA AND MEXICO, BUT 1 56180 WIRE TRANSFER PRINCIPAL INVESTIGATOR SOUTH AMERICA - ARGENTINA, BOLIVIA, 1 34335 WIRE TRANSFER PRINCIPAL INVESTIGATOR SUB-SAHARAN AFRICA - ANGOLA, 2 45263 WIRE TRANSFER 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: 1. RECEIVE BOTH SOLICITED AND UNSOLICITED PRELIMINARY APPLICATIONS FROM THE SCIENCE COMMUNITY - APPLICATIONS, INCLUDING DRAFT BUDGET, ARE REVIEWED AND EVALUATED ON A ROLLING BASIS - INITIAL BUSINESS REVIEW BY FIELD MANAGEMENT, RESEARCH, DEVELOPMENT/CORPORATE PROGRAMS, VOLUNTEER PROGRAMS, ENGAGEMENT, AND FINANCE DEPARTMENTS; RECOMMENDATION SUBMITTED WHICH IS ACCEPTED OR REJECTED BY THE INTERNATIONAL EXECUTIVE TEAM. - IF DECISION IS TO INVITE FULL PROPOSAL, WE INVITE THE SCIENTIST TO SUBMIT A DETAILED PROPOSAL. - UPON RECEIPT OF PROPOSAL, IT IS SENT TO BE EXTERNALLY REVIEWED TO ESTABLISH SCIENTIFIC WORTH (SOME EXCEPTIONS) - BUDGET AND ALL FIELDING DETAILS ARE CONFIRMED - FINAL DETAILS APPROVED BY INTERNAL REVIEW COMMITTEE (IF RECOMMEND TO REJECT AT THIS POINT, MUST GO BACK TO THE INTERNATIONAL EXECUTIVE TEAM) 2. SELECTED GRANTEES ARE NOTIFIED 3. PAYMENTS MADE TO GRANTEES PER BUDGET AND TIMELINE OF PROJECTS 4. AT END OF FIELD SEASON, GRANTEE REQUIRED TO SUBMIT RECEIPTS TO DOCUMENT SPENDING OF FUNDS 5. BUDGETS AND FIELDING DETAILS ARE RE-EVALUATED AND APPROVED ON A YEARLY BASIS. 6. PROJECTS RE-SUBMIT A SCIENTIFIC PROPOSAL EVERY 3-5 YEARS (SOME EXCEPTIONS) 1 ARCHOSAUR FOUNDATION- DEREK MAIN 3009 WINGREN RD IRVING TX 75062 452679972 7200 PRINCIPAL INVESTIGATOR BIODIVERSITY RESEARCH INSTITUTE 19 FLAGGY MEADOW RD GORHAM ME 02038 010515381 42902 PRINCIPAL INVESTIGATOR CAPE ELEUTHERA INSTITUTE P O BOX 5910 PRINCETON NJ 08543 311591503 34290 PRINCIPAL INVESTIGATOR MICHAEL JOHNSON LLC 632 CANTRILL DR DAVIS CA 95618 205147757 22020 PRINCIPAL INVESTIGATOR PURDUE UNIVERSITY 2101 EAST COLISEUM BLVD FORT WAYNE IN 46805 356002041 37700 PRINCIPAL INVESTIGATOR SMITHSONIAN INSTITUTION 24412 NETWORK PLACE CHICAGO IL 60674 530206027 9141 PRINCIPAL INVESTIGATOR TETON SCIENCE SCHOOLS 700 COYOTE CANYON RD JACKSON WY 83001 830219163 50244 PRINCIPAL INVESTIGATOR THE RESEARCH FOUNDATION OF NY P O BOX 9 ALBANY NY 122010009 141368361 73384 PRINCIPAL INVESTIGATOR UNIVERSITY OF REDLANDS 1200 E COTTON AVE REDLANDS CA 92373 951643389 38520 PRINCIPAL INVESTIGATOR VALLES CALDERA TRUST P O BOX 359 JEMEZ SPRING NM 87501 030433680 15345 PRINCIPAL INVESTIGATOR ALLIANCE FOR THE GREAT LAKES 17 N STATE ST STE 1390 CHICAGO IL 60602 237104524 7480 PRINCIPAL INVESTIGATOR CHARLES RIVER WATERSHED ASSOCIATES 190 PARK ROAD WESTON MA 02493 046136989 5300 PRINCIPAL INVESTIGATOR COLORADO STATE UNIVERSITY 2002 CAMPUS DELIVERY FORT COLLINS CO 80523 846000545 15000 PRINCIPAL INVESTIGATOR CROW CANYON ARCHAEOLOGICAL CTR 23390 ROAD K CORTEZ CO 81321 840631786 38925 PRINCIPAL INVESTIGATOR DENVER ZOOLOGICAL FOUNDATION 2300 STEELE ST DENVER CO 80205 840502539 66386 PRINCIPAL INVESTIGATOR SATCOM 1347 N ALAM SCHOOL RD CHANDLER AZ 85224 742967220 12114 PRINCIPAL INVESTIGATOR THINK ELEPHANTS INTERNATIONAL PO BOX 905 STONE RIDGE NEW YORK NY 12484 800754268 26000 PRINCIPAL INVESTIGATOR URBAN ECOS (KELANIE RAVDIN) 30 COSO AVE SAN FRANCISCO CA 94110 039400338 5115 PRINCIPAL INVESTIGATOR PRINCIPAL INVESTIGATOR 5 191742 COMMUNITY ACTION AWARD 6 1450 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: 1. RECEIVE BOTH SOLICITED AND UNSOLICITED PRELIMINARY APPLICATIONS FROM THE SCIENCE COMMUNITY - APPLICATIONS, INCLUDING DRAFT BUDGET, ARE REVIEWED AND EVALUATED ON A ROLLING BASIS - INITIAL BUSINESS REVIEW BY FIELD MANAGEMENT, RESEARCH, DEVELOPMENT/CORPORATE PROGRAMS, VOLUNTEER PROGRAMS, ENGAGEMENT, AND FINANCE DEPARTMENTS; RECOMMENDATION SUBMITTED WHICH IS ACCEPTED OR REJECTED BY THE INTERNATIONAL EXECUTIVE TEAM. - IF DECISION IS TO INVITE FULL PROPOSAL, WE INVITE THE SCIENTIST TO SUBMIT A DETAILED PROPOSAL. - UPON RECEIPT OF PROPOSAL, IT IS SENT TO BE EXTERNALLY REVIEWED TO ESTABLISH SCIENTIFIC WORTH (SOME EXCEPTIONS) - BUDGET AND ALL FIELDING DETAILS ARE CONFIRMED - FINAL DETAILS APPROVED BY INTERNAL REVIEW COMMITTEE (IF RECOMMEND TO REJECT AT THIS POINT, MUST GO BACK TO THE INTERNATIONAL EXECUTIVE TEAM) 2. SELECTED GRANTEES ARE NOTIFIED 3. PAYMENTS MADE TO GRANTEES PER BUDGET AND TIMELINE OF PROJECTS 4. AT END OF FIELD SEASON, GRANTEE REQUIRED TO SUBMIT RECEIPTS TO DOCUMENT SPENDING OF FUNDS 5. BUDGETS AND FIELDING DETAILS ARE RE-EVALUATED AND APPROVED ON A YEARLY BASIS. 6. PROJECTS RE-SUBMIT A SCIENTIFIC PROPOSAL EVERY 3-5 YEARS (SOME EXCEPTIONS) X X X 0 0 0 0 0 0 0 0 0 EDWARD WILSON 184849 0 0 0 0 0 0 0 13113 0 197962 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PROVIDED TO THE SENIOR LEADERSHIP TEAM FOR REVIEW AND THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. THE CFO WILL THEN SIGN OFF FOR ELECTRONIC FILING OF THE FORM 990. A COPY OF THE FINAL SIGNED 990 WILL BE SENT TO ALL MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY TO ENSURE THAT ALL APPROPRIATE PERSONNEL HAVE SIGNED THE FORMS FOR THE CURRENT FISCAL YEAR. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE REVIEWS AND APPROVES WRITTEN EMPLOYMENT CONTRACTS FOR ALL EMPLOYEES AT THE EXECUTIVE LEVEL. AFTER EMPLOYMENT CONTRACTS ARE APPROVED BY THE COMPENSATION COMMITTEE, THE BOARD OF DIRECTORS REVIEW AND APPROVE THE COMPENSATION CONTRACTS. FORM 990, PART VI, SECTION C, LINE 19 EARTHWATCH MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C THE BOARD OVERSEES THE SELECTION OF AUITORS AND MEETS WITH THE AUDITORS AT THE CONCLUSION OF THE AUDIT TO REVIEW RESULTS. FORM 990, PART VII, SECTION A: EARTHWATCH INSTITUTE, INC. AND EARTHWATCH EUROPE (AN UNRELATED U.K. NON-PROFIT ENTITY) ORGANIZED AND INCORPORATED EARTHWATCH INTERNATIONAL, INC. (EARTHWATCH INTERNATIONAL). EARTHWATCH INTERNATIONAL HAS NO ASSETS AND HAD NO ACTIVITY AS OF AND FOR THE YEAR ENDED SEPTEMBER 30, 2013. THE BOARD OF DIRECTORS OF EARTHWATCH INTERNATIONAL CONSISTS OF THE BOARD MEMBERS OF EACH OF THE INCORPORATORS, WITH EACH INCORPORATOR HAVING EQUAL VOTING POWER. EARTHWATCH INTERNATIONAL'S PURPOSE IS TO PROVIDE INTERNATIONALLY COORDINATED GOVERNANCE AND ADMINISTRATION FOR THE BENEFIT OF ORGANIZATIONS THROUGHOUT THE WORLD THAT USE EARTHWATCH TRADEMARKS AND BRAND. EACH PARTY MAINTAINS ITS OWN INDEPENDENT GOVERNANCE AND FINANCIAL INTEGRITY. CERTAIN COSTS, KEY EXECUTIVES AND PROGRAM AND ADMINISTRATIVE STAFF SERVE BOTH EARTHWATCH US AND EARTHWATCH EUROPE AND COSTS ARE SHARED UNDER A MEMORANDUM OF AGREEMENT BETWEEN THE ORGANIZATIONS. AS SUCH, THE EXECUTIVE EMPLOYEES THAT ARE SHARED BETWEEN EARTHWATCH U.S. AND EARTHWATCH EUROPE, THAT ARE PAID BY EARTHWATCH U.S., ARE LISTED ON FORM 990, PART VII, SECTION A, AT THEIR FULL COMPENSATION AMOUNTS. ADDITIONALLY, EARTHWATCH U.S. REIMBURSED EARTHWATCH EUROPE FOR THE SERVICES OF THEIR CFO. THE AMOUNT LISTED ON FORM 990, PART VII, SECTION A REPRESENTS THE REIMBURSEMENT OF 50% OF HIS SALARY THAT IS BEING PAID TO HIM BY EARTHWATCH EUROPE. CLOCK TOWER FILMS LLC 114 WESTERN AVENUE BOSTON MA 02134 342005695 VIDEO PRODUCTION MA N/A