St. Louis Science Center Foundation

“The foundation has no employees, rather its program service, management, and fundraising are performed by the st. Louis science center (a tax-exempt museum subdistrict of the state of missouri) which charges the foundation a management fee. In addition, the science center charges the foundation for certain labor costs incurred for various activities carried out by the foundation.”

“The sole member of the foundation is the st. Louis science center which is a governmental body organized and existing under the laws of the state of missouri. At each annual meeting of the foundation, the governing body of the science center elects the board of directors of the foundation.”

“Form 990 was prepared by a public accounting firm with information from the st. Louis science center foundation's finance staff. A draft copy was reviewed by the controller and cfo and recommended changes were sent to the tax preparer. The return was reviewed with the audit committee of the science center and provided to the board of directors electronically prior to filing.”

“As a result of being affiliated with the st. Louis science center, the officers, directors, and key employees file annual financial disclosure statements with the foundation and the missouri ethics commission. The submission and review of these statements is coordinated by the finance department of the science center which ensures that all required statements are filed on a timely basis and that any matters requiring attention are followed up on in a timely manner.”

“Compensation of the president of the science center, who is also the president of the foundation, is reviewed and approved by an independent compensation committee of the science center and the board of directors of the foundation. They obtain and rely upon appropriate data for presidents of similar organizations of similar size, as provided by a compensation consultant, and document the basis for determining compensation in contemporaneously prepared documents and meeting minutes. For other key executives, compensation levels are determined using comparable salary data and input from the board of directors and members of the board of directors of the science center.”

“This information is available on the web site of the st. Louis science center and is also available at the reception desk of the science center. The financial statements also include information on who to contact to obtain additional information about the science center and the foundation.”

“The visitors served and related program revenues and expenses for the year were greatly impacted by the covid-19 pandemic. In march of 2020 the science center's management team and board decided to close to the public in order to comply with osha and cdc guidance to protect the health of our colleagues and guests. The science center experienced a dramatic negative financial impact due to the closure. Earned revenues, which are received from guests visiting onsite, disappeared. Management took steps to help offset the impact of lost revenues. No open positions or new positions were filled and a hiring freeze was put in place. Capital expenditure projects were paused or delayed. Discretionary spending was also paused; most programs were postponed. The science center worked with local health officials to establish specific capacity limits that were followed upon reopening in june; capacity limits remained in place for all the remainder of 2020. Daily attendance remained well below these limits, negatively impacting revenues through the remainder of the year.”

“Gallery operations and support: program service expenses 299,821. Management and general expenses 0. Fundraising expenses 0. Total expenses 299,821. Security and parking: program service expenses 283,671. Management and general expenses 0. Fundraising expenses 0. Total expenses 283,671. Guest services: program service expenses 281,478. Management and general expenses 0. Fundraising expenses 0. Total expenses 281,478. Finance: program service expenses 0. Management and general expenses 258,174. Fundraising expenses 0. Total expenses 258,174. Grant funded programs: program service expenses 242,945. Management and general expenses 0. Fundraising expenses 0. Total expenses 242,945. Human resources: program service expenses 31,006. Management and general expenses 149,990. Fundraising expenses 0. Total expenses 180,996. Simulators: program service expenses 180,286. Management and general expenses 0. Fundraising expenses 0. Total expenses 180,286. Operations: program service expenses 151,038. Management and general expenses 0. Fundraising expenses 0. Total expenses 151,038. Community science education: program service expenses 42,939. Management and general expenses 0. Fundraising expenses 0. Total expenses 42,939.”

“Represents the foundation's annual net contribution to the st. Louis science center subdistrict.”

“In may, the science center foundation received a paycheck protection program (ppp) loan in the amount of $1,922,200 which enabled us to support compensation and benefits for staff. As of july 20, 2021, the foundation was notified that the small business administration (sba) approved full forgiveness of the ppp loan.”