Children'S Museum of Manhattan

“Founding board chair, laurie m. Tisch and board director, will blodgett have a family relationship.”

“Once the form 990 is prepared by an outside accounting firm, the return is provided to management for their initial review. After management has approved the form 990, a complete copy of the return is provided electronically to all members of the board for their review prior to filing with the irs.”

“Cmom currently has in place a conflict of interest policy that applies to all directors. The board mandates each director to annually sign a conflict of interest policy and disclose any potential or actual conflicts that may exist. When any matter comes before the board in which a related party has a financial interest, or when any interested person becomes aware of such financial interest, the individual must promptly and fully disclose in good faith such financial interest to the board prior to its acting on the matter. The board requires any related party who has a financial interest in a matter to not be present while the matter is discussed or while the vote to determine whether or not a conflict of interest exists is taken or otherwise participate in the deliberation. No interested person or related party can vote on or attempt to influence the deliberation or voting on any matter in which he or she has a financial interest or is an interested person. The existence of all such conflicts of interest and their resolution, as well as any issues relating to them, are documented in the minutes of any meeting at which the conflict was discussed or voted on.”

“The organization's board of directors determined the compensation of the organization's ceo and cfo based on comparability data, such as industry standards and other available market data. A global executive search firm provided the ceo search committee of the board of directors with high level compensation data comparing across other children's museums and science centers of similar sizes, as well as a few other new york based museums. Their compensation was approved by the board and documented. This process last occured in 2024.”

“The organization makes its form 990 available for public inspection as required under section 6104 of the internal revenue code. The return is posted on guidestar.org and other similar types of websites. In addition, the financial statements, conflict of interest policy and by-laws are also available upon written request.”

“Decrease in provision for uncollectible grants receivable -792,670.”

“The organization has a finance and audit committee that assumes responsibility for the oversight of the audit of its financial statements and selection of an independent accountant. The process has not changed from prior year.”

“In december 2023, the organization contracted with a professional employer organization (peo) for services, including but not limited to, payroll, timekeeping, employee benefits, hr administration and workforce regulatory compliance needs. As the employer of record for tax purposes, forms w-2 and w-3 are issued by the peo and filed under the peo's federal ein. In this co-employment arrangement, the organization is the common law employer and, accordingly, compensation is reported on form 990, part vii, section a and part ix, lines 5-10.”