Lincoln Children'S Museum

“The for 990 is provided to each member of the board of directors in electronic format. Members of the board are given an appropriate amount of time for review and comment. At the expiration of this timeframe, the form is filed with the internal revenue service. Concerns brought forth during the review period will be addressed to the satisfaction of the board of directors before filing.”

“Any director, principal officer, or member of a committee with a direct or indirect financial interest has a duty to disclose such interest. Once disclosed, the board of directors addresses the potential conflict according to the procedures set forth in the conflict of interest policy. Violations of the policy, including failure to disclose, are grounds for corrective action. Members of the governing board are required to acknowledge receipt and pledge adherence to the policy at least annually.”

“All paid positions at the lincoln children's museum are benchmarked against the compensation and benefits survey published by the association of children's museums (acm), most recently published in 2006. The ranges for each position are expected to fall between the 25th and 75th percentile of organizations similar in size and scope to the lincoln children's museum. If positions are found to be below this range, a market adjustment is performed to ensure a fair and competitive compensation package is given to staff. Annual reviews are conducted to each paid staff position and merit raises of 1% to 4% are awarded to the extent warranted. The compensation of the executive director is subject to the same parameters as described above and is reviewed in july of each year by the board of directors. No officers are compensated for their duties on behalf of the lincoln children's museum.”

“In the interest of transparency to community stakeholders and donors, the museum willingly makes its governing documents, conflict of interest policy, financial statements, and irs form 990 available for public review through the following process: 1. Interested persons shall contact the executive director to schedule an appointment to review documents. In making such contact, interested persons shall clearly identify themselves and make known the intent under which they are making such a request. 2. At the appointed time, executive director will make requested documents available to the interested person(s) and make himself/herself available to said person(s) during the entirety of the review to answer any questions or provide additional points of clarification if needed. 3. Interested parties may request copies of any or all of said documents during, but not in lieu of, the appointed time.”

“There have been no changes in the audit committee review process from the prior year.”