The Skyscraper Museum

“Mark and carol willis are husband and wife. Carol is the president and director of the museum and mark is the vice president and director.”

“There is an audit committee which reviews and approves the audited financial statements and it also appoints the auditor and reports its findings and conclusions to the full board. The board of directors makes all other decisions.”

“An electronic copy of the 990 is sent to the president and the coo of the museum for review. After their review is complete and all of their questions have been answered by the auditors, an electronic copy of the 990 is then sent to the board's audit committee for their review and approval after which, it is then distributed to the entire board of directors.”

“Each year, the museum distributes its conflict of interest statement to every member of the board with a cover letter describing the positive action required by each member. Each member is required to sign the document and initial whether or not they have a conflict. The board decides whether a conflict exists and will then review each conflict. There are no restrictions.”

“The board of directors decides the compensation of the president at its annual meeting. This is done by obtaining 990's of comparable organizations, salary surveys and approval by the board of directors. Documentation is in the minutes of the board meeting.”

“The museum does not make public any of its governing documents, conflict of interest statements or financial statements. They can be made available upon request by contacting the organization.”

“The annual museum benefit held for the year ended june 30, 2014 raised almost twice the normal revenue due to the very high stature of the honoree. The museum does not anticipate approaching this level of revenue in future years.”

“The museum has audit committee that reviews and approves the audited financial statements prepared by independent accountant. In the past, the review/approval was done by the entire board.”

“Reporting of amortization: for 2013, part ix, statement of functional expenses, excludes the amortization in connection with the leasehold interest donated to the museum by the battery park city authority under a rent free lease. For financial statement purposes, the lease is amortized over the lease period in the amount of $43,478. The amortization of previously capitalized in-kind contributions allowed for financial reporting purposes is excluded for tax purposes and reflected as a reconciliation adjustment on schedule d, part xii, line 2a and on part xi, line 6 as an adjustment to net assets.”