MCM Holdings

“The sole voting member of the organization is the minnesota children's museum.”

“The minnesota children's museum, the organization's sole voting member, has the power to elect or appoint one or more members of the governing body.”

“The voting member has the following rights and powers concerning the governance of the organization: 1. To appoint and remove for cause any or all members of the board of directors 2. To propose amendments to the articles of incorporation or bylaws for consideration by the board of directors 3. All other rights and powers of voting members pursuant to chapter 317a of the minnesota statutes. None of the following actions are effective without the express written approval of the voting member: 1. Appointment of the president 2. Amendment of the articles of incorporation or bylaws 3. Adoption of the organization's strategic plans, capital budgets and operating budgets 4. Approval of any plan of merger or consolidation by this organization with any foreign or domestic corporation, voluntary dissoluation of this organization, or sale, lease, mortgage, encumbering or transfer of any of this organization's assets over limits established from time to time by resolution adopted by the voting member 5. Adoption of policies regarding the implementation of any of the rights and powers described in section 1.4 of the organization's bylaws (all of which have been described above).”

“The organization's form 990 is prepared by an independent accounting firm and reviewed by the director of finance and the board of director's finance committee prior to filing. The board receives a copy of the form 990 prior to filing.”

“The conflict of interest policy requires all officers, directors, and employees to sign a conflict of interest disclosure form annually. if a conflict is present, the member will not be present during discussions and must abstain from the vote. Any existing conflicts are to be documented in the meeting minutes. The board of directors is responsible for oversight of all dislcosures or failures to disclose and for taking appropriate action in the case of any actual or potential conflict of interest transaction.”

“Mcm holdings currently does not have any employees. Mcm holdings is implementing these best practice policies for its board of directors for the year-ended 6/30/2017.”

“The articles of incorporation, bylaws and financial statements are available to the public upon request.”

“Mcm holdings was established to hold, renovate and manage the existing facility of the minnesota children's museum in downtown st. Paul. This was carried out in conjunction with the expansion and complete renovation of the facility. Activities during the year were the commencement of construction on this expansion and complete renovation as described below: construction and renovation of the infrastructure of minnesota children's museum building. Mcm holdings is renovating all current public space as well as adding 2,000 square feet to the existing footprint. Construction and fabrication of new galleries for the minnesota children's museum. Mcm holdings is developing, creating and installing 10 new galleries. Construction consulting/professional fees - mcm holdings qualified for federal new market tax credits. Expenses include financing consulting as well as construction architect fees and owner's representative services. Total construction and renovation costs were $8,704,198 which were capitalized as reported in part ix.”

“MN”

“RENOVATION CONSTRUCTION: Program service expenses 5,837,950. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,837,950. EXHIBIT CONSTRUCTION: Program service expenses 1,764,335. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,764,335. PERMITS, LICENSES & FEES: Program service expenses 98,428. Management and general expenses 0. Fundraising expenses 0. Total expenses 98,428. CONSTRUCTION CONSULTING/PROFESSIONAL FEES: Program service expenses 445,222. Management and general expenses 0. Fundraising expenses 70,252. Total expenses 515,474.”

“Transfer of net assets from minnesota children's museum 29,348,221.”