Intrepid Museum Foundation Inc.

“Kenneth Fisher, Steven Fisher and Winston Fisher, all members of the Board of Trustees of the Museum, are family members. Bruce Mosler and Kenneth Fisher, all members of the Board of Trustees of the Museum, have a business relationship. Bruce Mosler and Mark Lapidus, all members of the Board of Trustees of the Museum, have a business relationship.”

“The Form 990 was prepared by the Museum's outside accounting firm with information provided by the Museum's staff. Management reviewed the form and provided additional comments. A draft copy was distributed to the Audit Committee via e-mail. The Committee members are given an opportunity to review the form and ask for additional information or make comments prior to finalization. The final Form 990 is submitted to the Audit Committee for their final review and approval via e-mail prior to the filing date. Once approved, the Form 990 was sent via e-mail by the Chairman of the Audit Committee to members of the Board of Trustees for their review. The Board of Trustees is required to acknowledge their receipt of the form by email. The Form 990 is then approved by management and e-filed with the IRS.”

“The Board of Trustees (the "Board") is the governance authority for the Intrepid Museum Founation (the "Museum") and its members have a fiduciary obligation to act in the best interest of the Museum without regard to their personal interests. The Board provides guidance and oversight for the development and implementation of the museum's policies and programs to see that museum activities are conducted and resources are utilized in support of the Museum's mission, in accordance with professional standards and practices. Trustees must exercise due diligence and good faith in carrying out their duties on behalf of the Museum, and should refrain from taking any action that might conflict, or appear to conflict, with the interests of the Museum. This Code of Conduct and Ethics (this "Code") is intended to provide guidance to trustees to help them with their responsibilities, recognize and deal with ethical and compliance issues, provide mechanisms to report unethical conduct, and help foster a culture of honesty and accountability. Each trustee must comply with the letter and spirit of this Code. This Code is intended to supplement but not replace any applicable state or federal laws governing ethical conduct or conflicts of interest applicable to non-profit organizations. No code or policy can anticipate every situation that may arise. Accordingly, this Code is intended to serve as a source of guiding principles for trustees. Trustees are encouraged to bring questions about particular circumstances that may implicate one or more of the provisions of this Code to the attention of the Chairman of the Audit & Compliance Committee, who may consult with legal counsel as appropriate. 1. Trustee Responsibilities. The responsibilities of the Board and trustees are set forth in the Intrepid Museum Foundation Board of Trustees Position Description, which is updated from time to time. The Board of Trustees is the governance authority for the Museum and has the authority and responsibility for overseeing that Museum resources, programs and activities support the Museum's mission. The Board is responsible for reviewing and monitoring the strategic direction of the Museum, providing guidance on and oversight of policies and operations and seeing that Museum resources are responsibly and prudently managed in compliance with legal and ethical requirements. Trustees are required by law to adhere to a duty of care and duty of loyalty in carrying out the responsibilities of the Board. A trustee's duty of care refers to the responsibility to exercise appropriate diligence in overseeing the management, business and affairs of the Museum, making decisions and taking other actions. In meeting the duty of care, trustees are expected to: a. Attend and participate in Board and committee meetings. Participation (whether in person or by remote communication) is required. Trustees may not vote or participate by proxy. b. Remain properly informed about the Foundation's business and affairs. Trustees should review and devote appropriate time to studying board materials. c. Rely on others. Absent knowledge that makes reliance unwarranted, trustees may rely on Board committees, management, employees, and professional advisors. d. Make inquiries. Trustees should make inquiries about potential problems that come to their attention and follow up until they are reasonably satisfied that management is addressing these problems appropriately. A trustee's duty of loyalty refers to the responsibility to act in the Museum's best interests consistent with its mission, not the interests of the trustee, a family member or an organization with which the trustee is affiliated. Trustees must also act in good faith. Trustees should not use their positions for personal gain. The duty of loyalty may be relevant in cases of conflict of interest and corporate opportunities. 2. Conflicts of Interest. Trustees should try to avoid taking any action that might conflict, or appear to co”

“The Executive Committee and the Board, via the budget presentation and approval process, are responsible for approving the hiring compensation and annual evaluations for salary increases. The Committee studies market compensation and competitiveness, analyzing both economic climate, current budget restrictions if hire is within a budget cycle, competitive data at similar institutions in metropolitan locations beginning with NYC (comparing budget size, position responsibility, number of subordinates to be managed, etc), position within non-profit world and for profit world. They also use current survey data for comparative analysis from various applicable sources in the museum field, such as American Association of Museums, Museum Association of NY, as well as a salary survey from PNP (Professionals for Non-Profits) and comparative salary information from the New York Cultural Institutions Human Resources Group, and data available for the fields applicable to the position, e.g. accounting, operations, education. At most senior levels, President discusses requirements and proposed salary range with the Compensation Committee. For President, the Co-Chairmen of the Board would be involved in the decision-making process and discuss requirements and salary ranges with members of the Compensation and Executive Committees. To establish salary increases and bonuses, the President assesses performance of direct reports, and President's performance is assessed by Co-Chairmen. AT THE END OF THE FISCAL YEAR, ALL STAFF, INCLUDING SENIOR STAFF, UNDERGO PERFORMANCE REVIEWS. SENIOR MANAGEMENT PERFORMANCE IS EVALUATED BASED ON GOALS SET FOR THE MUSEUM, EACH DEPARTMENT, MANAGEMENT OF RESPECTIVE TEAMS, AND SUCCESS OF OVERALL VENUE. (SUCCESS IS MEASURED THROUGH REVENUE, BRAND AWARENESS, CUSTOMER SATISFACTION, GROWTH OF PROGRAMMING AND CONTENT, GROWTH IN ATTENDANCE, INTEGRITY AND UPKEEP OF SAFE INFRASTRUCTURE.) BASED ON THOSE ASSESSMENTS, THE PRESIDENT RECOMMENDS SALARY INCREASES AND BONUSES FOR EACH MEMBER OF SENIOR MANAGEMENT TO THE COMPENSATION COMMITTEE BASED ON ACHIEVEMENTS AND BUDGET AVAILABILITY. THE COMPENSATION COMMITTEE ENGAGES A COMPENSATION CONSULTANT TO PERFORM MARKET STUDIES OF COMPARABLE ORGANIZATIONS AND SENIOR MANAGEMENT POSITIONS. IT MEETS WITH THE CONSULTING FIRM AND THE PRESIDENT OF THE MUSEUM. IF THE COMPENSATION COMMITTEE HAS ANY QUESTIONS OR RECOMMENDATIONS, THE PRESIDENT ADDRESSES THEM AND MAKES REVISIONS. THE COMMITTEE THEN CONSIDERS THE PRESIDENT'S RECOMMENDATIONS AND APPROVES THEM OR DIRECTS THE PRESIDENT TO MODIFY HER RECOMMENDATIONS BASED ON OTHER FACTORS. THE PRESIDENT ALSO PRESENTS HER ACCOMPLISHMENTS TO THE CO-CHAIRMEN OF BOARD FOR REVIEW. THE CO-CHAIRMEN CONSULT WITH THE COMPENSATION COMMITTEE AND COMPENSATION CONSULTANT TO APPROVE SALARY INCREASES AND BONUSES FOR THE PRESIDENT. If bonus and salary increases are approved by the Compensation Committee, the Chairman of the Compensation Committee advises the President, and the proper documentation is prepared and submitted to finance and the bonuses are paid and the increases are implemented. This process was last undertaken during FY17.”

“The Museum makes its Form 990 available for public inspection as required under section 6104 of the Internal Revenue Code by having the 990 posted on guidestar.org as well as the Intrepid website. In addition, forms 990 and 1023 as well as the conflict of interest policy, articles of incorporation, by-laws and financial statements are available to the public upon written request of the Museum at One Intrepid Square (W. 46 St. & 12th Ave.), New York, NY 10036.”

“The Museum makes its financial statements and certain of its corporate documents regarding its 501(c)(3) status available to the public on its website. The Museum makes certain of its governing documents and its conflict of interest are available to the public on request.”

“The Aircraft Restoration Department realized a much-anticipated upgrade with the opening of the Aircraft Restoration Hangar in December 2016. The new hangar facility is watertight and climate-controlled, allowing year-round work on the Museum's collection of 28 historical aircraft. The new hangar can accommodate two aircraft projects at one time and has allowed the Museum to begin an extended two-year restoration of the Douglas A-1 Skyraider, a significant aircraft in the collection. Another aircraft, the Israeli Aircraft Industry Kfir C-2, has been completely repainted, treated for corrosion resistance and returned to active display. Aircraft Accession - No accessions in FY17. Collections - FY17 - 90 total acquisitions: 7 purchases, 83 donations - 2,394 total artifacts: 2,227 media items, 50 archival collections, 117 objects - 5 historical spaces (project is largely completed), with 1 collection removed - Oral History Project participants who donated artifacts this year: 14 - Repeat artifact donors: 15 Collections Highlights: Edgar Blankenship Scrapbook: Edgar Gerald Blankenship was an aviator with VF-18 on board Intrepid during World War II. His scrapbook ties together many of our other VF collections. It includes Edward Ritter cartoons, many of which we had not seen before. Blankenship was the inspiration for the main character "Snipo" in these cartoons. We previously thought all of Ritter's original sketches were destroyed in a kamikaze attack, so it is very special that two original pencil drawings are in this collection. Mr. Blankenship survived the war but died while transiting a Corsair across the United States. Mr. Blankenship's death in 1947 had a profound effect on his only child, Edward. Edward is very pleased that his father can be remembered at the Museum. Allen Odette Growler Collection: Allen Odette served on board Growler from August 1961 until December 1963 as a fire control technician, guided missile second class. His collection has many slides of Growler, of which we had few. Additionally, he donated a large collection of Growler newsletters that provide contemporaneous accounts of the news and daily routine on board Growler. One family gram shows, in contrast to Intrepid, the very limited amount of interaction Growler crew members had with loved ones back home while on patrol. Ben St. John Collection: Bernard "Ben" St. John (19212016) served on board Intrepid as a pilot in squadron VT-18 in 1944. Ben St. John's family has donated his entire collection. It contains many aviator uniform parts from World War II that we previously did not have. Mr. St. John's oral history was used in the 4D simulator movie. Christening bottle: According to the seller, the christening bottle was rescued from the garbage by a dockworker at Newport News Shipyard. Over the years it had been passed down and sold to different antique shops. We have a collection of photographs from the Museum's sponsor, Mrs. Hoover, who christened the ship, and it is wonderful to have the object that was with Intrepid right from the beginning. Pierce Matthews Letters: Pierce Yarrell "PY" Matthews Jr. served as a lieutenant commander in the W Division on board Intrepid in the early 1960s. These letters were an eBay purchase from someone who had bought them from an estate sale. Matthews was a career Navy officer who wrote at length about his thoughts about service, life philosophy and everyday life on board the ship. The letters include heavily annotated photographs of the people and places mentioned in his writings. If we had not found them on eBay, this wonderful peek into an officer's life on board Intrepid would have been lost.”

“Out-of-school time and enrichment programs, such as Camp Intrepid, were offered in the summer and during school breaks throughout the year. Programs highlighted a range of topics through activities, tours, demonstrations and experiments. During Camp Intrepid, each week included opportunities for campers to visit the Museum's historical spaces, receive guided access to select airplanes, and explore the Museum's exhibitsincluding the space shuttle Enterprise and the submarine Growlerall while learning about Intrepid's ports of call, space science, marine science, ancient navies and aviation. Through the support of the NYC DOE initiative STEM Matters, the Museum provided two weeks of STEM Stars, a free, weeklong, full-day program held during the summer and spring break. The Museum also served as a site for Summer in the City program visits, another NYC DOE initiative. With support from the New York City Council and the Department of Cultural Affairs, the Museum continued partnerships with New York City schools through the Cultural After School Adventures (CASA) program. Since 2006, the Museum's Education Department has partnered with 35 schools throughout the five boroughs, and this past year educators worked with 11 schools for 4550 contact hours with each school's students. Programs focus on Intrepid and its historical spaces, the Museum's archives, collections and aircraft, and the space shuttle Enterprise, which serve as catalysts to pique student interest in social studies, math and science. Students analyze artifacts, read text, write in journals, experiment with scientific materials and explore the Museum's exhibitions. Students also complete a newsletter at the conclusion of the program. Newsletters highlight their experiences, what they learned and memorable moments. New this year was the launch of a Teen Night and a College Night, both with similar formats and geared toward youth and young adults. Organized by our teen advisory council, these nights featured Museum learning, music, snacks and a chance for participants to socialize in a safe atmosphere. Public Education - Museum educators provided regularly scheduled demonstrations throughout the Museum and in the Space Shuttle Pavilion for the general public. These inquiry-based demonstrations engaged the audience in making hypotheses and predictions, describing what they saw and observed, and assisting with the demonstration or experiment. Audience demographics varied. The majority of the participants were adults, seniors and multigenerational families with grandparents, parents and children. Museum educators presented the demonstrations to engage all audience members. This year, more than 7,000 visitors experienced demonstrations. Weekend family programs, called Intrepid Adventures, gave guidance for intergenerational learning while visiting the Museum, generally consisting of a short tour and a thematically linked activity. This year, 345 children and their caregivers participated in Intrepid Adventures. The public tours and talks team served 23,341 members of the public through in-depth tours. Topics covered the history of Intrepid, the Pacific War, the Vietnam War, and the past and future of space exploration. A family-friendly tour was also introduced on weekends and holidays. An additional 1,685 visitors organized special private tours, and 415 college students took a tour as part of their courses. More than 5,000 visitors experienced free-with-admission Tour Guide Talks this year. Evaluation - In order to ensure the quality of the Museum's programs and exhibitions, our internal research and evaluation team implemented a range of projects to collect front-end, formative and summative data to inform the development of programs and exhibitions and document their impact. These evaluation studies spanned a wide range of education programming and exhibition development. Front-end studies of visitor expectations, prior knowledge and content preferences for both tempora”

“The Foundation's process followed for audit oversight and selection of an independent accountant has not changed from the process employed in the prior year.”