Museum of Science and Industry

“James S. Crown and Lester Crown have a family relationship. Jason Pritzker and Cindy Pritzker have a family relationship. John A. Canning, Jr. and John F. Podjasek III have a family relationship. Barry L. MacLean and Duncan A. L. MacLean have a family relationship. James S. Crown and Lester Crown have a business relationship outside of the Museum. James S. Crown, Lester Crown, and Michael A. Reinsdorf have a business relationship outside of the Museum. Kent P. Dauten and Larry D. Richman have a business relationship outside of the Museum. William M. Goodyear and David A. Fisher serve on a board outside of the Museum. Eric P. Lefkofsky and Michael A. Reinsdorf serve on a board outside of the Museum. Edward M. Liddy and William A. Osborn serve on a board outside of the Museum. Richard H. Lenny and Sheila A. Penrose serve on a board outside of the Museum. Barry L. Maclean, Duncan A. L. Maclean, and Smita N. Shah have a business relationship outside of the Museum. David A. Fisher and Matthew M. Maloney serve on a board outside of the Museum. Barry L. Maclean and Duncan A. L. Maclean serve on a board outside of the Museum. E. Scott Santi and DG Macpherson serve on a board outside of the Museum.”

“The Bylaws were amended to revise the number and composition of the organization's Board of Trustees and Officers.”

“The Museum's Form 990 is prepared by an external public accounting firm who provides drafts for internal review. After the internal review, these drafts are updated, and a final draft is reviewed by the Chairperson of the Audit Committee and is made available to the Trustees electronically for their review, prior to electronically filing with the Internal Revenue Service.”

“The Museum formally sends a conflict of interest questionnaire annually to trustees, officers and employees. The Museum's compliance officer reviews the results of the questionnaires and investigates any reported potential conflicts for resolution as necessary. From time to time, the Museum conducts business with publicly traded companies at which certain Museum board members have an employment or board relationship. Business with these companies is entered into at arms-length and through the Museum's standard procurement process without influence from the interested board member(s). Any conflicts are resolved when interested board members excuse themselves when voting on matters related to the public company in which they serve.”

“The Compensation Committee of the Board of Directors oversees and approves the compensation for the CEO. All members of the Compensation Committee are independent. The process consists of: 1. The Compensation Committee meets annually to review and make decisions on CEO compensation. 2. Individual performance is evaluated against goals and objectives that support MSI's mission and strategic priorities. 3. From time to time, HR prepares a compensation benchmark analysis consisting of peer institutions to ensure executive compensation remains competitive within industry and reasonable. 4. Each year, MSI leadership team determines if merit increases will be awarded to Museum staff. The Chief of People and Culture facilitates and drives this process to ensure consistency and fairness across the Museum. 5. The process is contemporaneously documented.”

“The Museum posted a copy of its Form 990 on its website and made copies of Form 990 and 990-T publicly available upon request. As the Museum filed the application for recognition of exemption, Form 1023 before July 15, 1987, it need not be made publicly available.”

“The Museum's annual report and the financial statements are made available to the public via the Museum's website and upon request, respectively. Governing documents and conflict of interest policy are available to the public upon request for the same period of disclosure as set forth in IRC section 6104(d).”

“Consultants: Program service expenses 1,405,485. Management and general expenses 256,903. Fundraising expenses 154,077. Total expenses 1,816,465. Security Services: Program service expenses 1,806,708. Management and general expenses 5,851. Fundraising expenses 110. Total expenses 1,812,669. Temporary Labor: Program service expenses 39,665. Management and general expenses 2,756. Fundraising expenses 0. Total expenses 42,421. Janitorial Services: Program service expenses 1,545,834. Management and general expenses 133,273. Fundraising expenses 0. Total expenses 1,679,107. All Other Professional Fees: Program service expenses 748,956. Management and general expenses 19,214. Fundraising expenses 0. Total expenses 768,170.”

“Change in Value of Life Insurance Policy 20,117. Gain (Loss) on Film Consortium Investment 19,779. Change in Value of Asset Retirement Obligation -28,684. Change in Value of Interest Rate Swap 3,529,980. Uncollectible Pledges -3,029,000.”