Liberty Science Center Inc.

“The return is prepared by an independent accounting firm based on information provided by the oranization and in consultation with the organization's staff. The draft prepared by the accounting firm is then carefully reviewed by the finance department. The final draft of the form 990 is reviewed in detail by the finance, audit, and facilities committee of the board of trustees, and then provided to each board member prior to filing with the irs.”

“The organization has a written conflict of interest policy covering all trustees, officers, and employees that requires, in part, that no individual may participate in discussions or decisions on any matter in which he or she has a material financial interest. All trustees, officers and key employees are required to certify compliance with the conflict of interest policy on an annual basis and to indicate whether the organization does business with an entity in which they have a material financial interest. When a potential conflict of interest is identified, the circumstances are first reviewed internally by the ceo and cfo, and if further clarification is required in order to determine whether a conflict exists, external legal counsel is consulted. Any advisable or necessary action on a conlict of interest would be reviewed by or taken or approved by the board of trustees or a committee of the board or the board chair or co-chair or the ceo, as appropriate.”

“The liberty science center board, acting through an executive committee comprised solely of independent trustees, from time to time conducts a review to determine comparable compensation ranges for comparable positions at similarly situated organizations, including for the ceo, which may include reference to compensation surveys, compensation database of an independent compensation consultant, and other organizations' forms 990 as well as potential competing employment offers. The liberty science center sets compensation within the range of reasonable compensation in the competitive marketplace. The process was last performed in 2019, at which time the committee engaged an independent compensation consultant to review and assess ceo compensation. No individual having a conflict of interest participates in the review or decision.”

“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 the organization's website, guidestar.org and other similar types of websites. The organization does not currently make its governing documents or conflict of interest policy available to the public. Audited financial statements are available upon request at 222 jersey city boulevard, jersey city, nj 07305 and on the organization's website.”

“Liberty science center (lsc) is a major not-for-profit science center devoted to stem (science, technology, engineering, and mathematics) education. The center's mission is to inspire the next generation of scientists and engineers and to excite learners of all ages about the power, promise, and pure fun of science and technology. More than 750,000 guests visit lsc annually including some 280,000 students and teachers. Of those, more than 40% are low-income, underserved youth. Lsc is housed in a dramatic 300,000-square-foot facility on the jersey city bank of the hudson river in liberty state park, new jersey, with dramatic views of lower manhattan and the statue of liberty. It offers 12 exhibition galleries, live science programs, 3 theaters including a planetarium, and a full service cafe and gift shop. Special weekend and holiday programming incorporate a wide variety of exciting experiences including meeting visiting scientists, trying out new technology, and even enjoying science-related character appearances. Educators and students from across the new jersey-new york city area are a special focus. Teachers can improve their science pedagogy or sign up students for award-winning on-site and off-site education programs. These include classes for scientists ages 2-5, focused k-12 field trips, hands-on lab workshops, and electronic videoconferencing that ushers students into science-rich settings in real time such as surgical suites.”

“Change in allowance for doubtful accounts -40,000.”

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