Academy of Science of St Louis

“Two Academy Trustees have a family relationship. The Board is aware of this and it has been determined that no conflict exists.”

“The Academy's 990 is reviewed by the Executive Committee of the Board of Trustees. After review and approval by the Executive Committee, the 990 is submitted to the full board for their review and comments. The 990 is then transmitted to the IRS.”

“To monitor transactions for conflicts of interest, each officer and trustee annually review the conflict of interest policy and provide a written statement indicating any potential or actual conflicts. Any statement provided from the officers and trustees that indicates a potential conflict is review by the Board to determine whether a conflict exists. If a conflict would be determined, the Board would impost restriction on the person with the conflict, prohibiting them from impacting decisions regarding the topic and therefore removing the conflict.”

“Compensation is reviewed annually for the Chief Executive Officer. There are no key employees and no Board Trustee of Officer receives any compensation.”

“The Academy's governing documents and conflict of interest policy are available to the general public upon request. The Academy's financial statements and IRS Form 990 are available through the Academy's website and are also available through the GuideStar website.”

“The compensation listed for the highest paid employee is the compensation reported on the employee's W-2 provided by the Saint Louis Science Center. All wages including the amount listed in Part VII are paid back to the Science Center by the Academy. See the explanation on Schedule O: Form 990, Part V, Line 2a.”

“Salaries for the Academy of Science are processed and paid by the Saint Louis Science Center. There is no relationship between the Academy and the Science Center other than a contract for rented space and other services rendered by the Science Center such as payroll processing, which is reimbursed by the Academy. The Science center processes and pays salaries then sends an invoice for reimbursement by the Academy for the total amount of salaries paid including the FICA match and all health and retirement benefits costs. The Academy therefore pays for all salaries and benefits and these costs are included in the Statement of Functional Expenses. But payroll processing, including preparation of W2 and W3 forms and employment tax returns are handled by the Science Center under their tax ID number.”

“Salaries for the Academy of Science are processed and paid by the Saint Louis Science Center. There is no relationship between the Academy and the Science Center other than a contract for rented space and other services rendered by the Science Center such as payroll processing, which is reimbursed by the Academy. The Science center processes and pays salaries then sends an invoice for reimbursement by the Academy for the total amount of salaries paid including the FICA match and all health and retirement benefits costs. The Academy therefore pays for all salaries and benefits and these costs are included in the Statement of Functional Expenses. But payroll processing, including preparation of W2 and W3 forms and employment tax returns are handled by the Science Center under their tax ID number.”

“Per IRS instructions, Coronavirus Aid, Relief, and Economic Security Act (CARES Act) Payroll Protection Program (PPP) loans are included as a contribution from a governmental unit in the year of forgiveness. The PPP loan of $107,600 was received in 2020 and was recognized as revenue in 2020 on the annual audit according to GAAP guidelines. It was a reconciling item on the 2020 IRS Form 990 as it had not yet been forgiven and as per IRS instructions is only recognized in the year forgiven. It is a reconciling item on the 2021 IRS Form 990 as it is recognized as revenue in 2021 but already recognized as revenue on the audited financials in 2020.”