Fernbank Inc.

“As stated in the Finance & Audit Committee Charter adopted on August 3, 2006, the Form 990 is reviewed by the Finance & Audit Committee, a sub- committee of the Board of Trustees prior to filing with the IRS. A complete copy of the Form 990 was made available to each Board Trustee.”

“A full copy of the Conflict of Interest Statement is provided to each Trustee at the first board meeting of the year. Each Trustee is required to sign an acknowledgement of receipt, indicates any potential conflicts of interest, and returns it to the Museum. A control list is maintained to ensure all acknowledgements are returned. The Museum recognizes a conflict of interest as occurring when an interested person defined as any trustee, principal officer or member of a committee with board-delegated powers has a direct or indirect financial interest or compensation arrangement through business, investment or family. Compensation includes direct and indirect remuneration as well as gifts or favors that are substantial in nature. All potential conflicts are reviewed by a committee of the board to determine whether the transaction or arrangement is in the Museum's best interest and for its own benefit and whether the transaction is fair and reasonable to the Museum and shall make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. If the board committee determines a conflict of interest does exist, it shall take appropriate disciplinary and corrective action.”

“Compensation for the President/CEO is determined by the Executive Committee of the Board of Trustees. Compensation and benefit information is gathered from human resource consultants pertaining to both museums of comparable size and nature and other regional cultural institutions. The information is reviewed by the Executive Committee and a compensation package is developed and approved.”

“All other officers' compensation is determined in a similar process as to that of the President/CEO; however, the process is performed by Human Resources Staff and all other officers are not under contract.”

“The Museum's governing documents including Fernbank's Charter and Articles of Incorporation, its mission statement and strategic plan, ethics policy, collections policy, privacy policy, gift policy, investment policy, endowment policy, conflict of interest policy, whistle blower policy, document retention policy and finance committee charter and current Form 990 are available upon request through the finance Department at 767 Clifton Road, NE, Atlanta, Georgia, 30307 for a nominal fee. The Museum's audited financial statements are available on-line through the Museum's web site.”

“In March 2021, the Organization obtained a Small Business Administration loan under the Paycheck Protection Program Flexibility Act ("PPPFA") in the amount of $849,000. The Paycheck Protection Program loan bore interest at 1% and may have required repayment under certain circumstances under the terms outlined by the Coronavirus Aid, Relief, and Economic Securities Act (the "CARES Act") and PPPFA. The Organization fulfilled the requirements necessary to record the funds in the statement of activities and changes in net assets in 2021. In May 2022, the Organization received notification of forgiveness of the loan. As part of the Coronavirus Aid, Relief and Economic Stabilization Act (the "CARES" Act), employers are provided the Employee Retention Credit ("ERC"). The ERC is a benefit provided through payroll tax credits to encourage maintaining employee headcounts throughout the Coronavirus pandemic. The Organization is treating the ERC as a conditional grant and revenue is recorded when the conditions are substantially met. During 2021, the Organization met the conditions required by the ERC and recognized grant revenue of $789,315, which is reflected as Employee Retention Credit grant in the accompanying statement of activities and changes in net assets. The total outstanding ERC receivable at December 31, 2022 and 2021, is $127,184 and $228,070, respectively.”

“Exhibits and large-screen films: Fernbank Museum offers a diversity of programming, including a variety of interdisciplinary exhibits and documentary films that expose visitors to the latest global science. Fernbank presented blockbuster special exhibits including: Knights in Armor, Tyrannosaurs: Meet the Family, and Journey to Space; and popular seasonal exhibits like Lichens: Symphonies of Scale, Habitats, Games in the Gallery, Woodland Spirits and Winter Wonderland: Celebrations & Traditions from Around the World. Fernbank's Giant Screen Theater continued to provide state-of-the-art 4K digital projection. Films shown included Dinosaurs of Antarctica, Mountain Adventure: Out of Bounds, Ireland, Antarctica, Secrets of the Sea, and Astronaut: Ocean to Orbit. Key attendance drivers, exhibits and films helped attract 341,000 visitors to Fernbank, a 25% increase over prior year, demonstrating a continued recovery following the pandemic.”

“Fernbank is committed to offering the highest-quality educational programming that complements a visit, supports in-school learning and reaches new audiences. Programs are designed for a variety of guests at all stages of life, including adults, families, and school children. Fernbank premiered WildWoods: AGLOW, a multi-sensory nighttime experience designed to attract new audiences. In addition, Fernbank presented Fernbank After Dark, a monthly adult science night; a broad array of family enrichment programs, including the popular Family Discovery Days; seasonal camps; and STEAM-Powered Communities, an educational initiative that includes a robust portfolio of school programs including K-12 Exploratory Science Classes, CORE (Connecting, Observing, Researching Ecosystems) ecology programs, Science Explorers at Agape, and Fernbank on the GO! community outreach. All museum programs including exhibits and films exceed Georgia Standards of Excellence, enhance classroom learning and bring science to life through dynamic and stimulating experiences.”

“Strategic Initiatives: Guided by a 5-year strategic plan, adopted in 2019 and to be extended this year, Fernbank is advancing new education and strategic initiatives that will address STEAM literacy and the significance of biodiversity and the earth's interconnected systems to our shared global home. The strategic plan embraced a new mission to ignite a passion for science, nature and human culture through exploration and discovery; introduced these core values-Science and the natural world inspire us; Curiosity drives us; Inclusivity strengthens us; Community empowers; Resourcefulness advances us; and Integrity grounds us; and, established these stated goals and strategies-Be known as the place for science, nature and culture; Modernize our experiences to serve the needs and expectations of our community; Expand and diversify our reach to reflect the vibrancy and multi-cultural heritage of our shared community; and strengthen our financial base so Fernbank thrives for future generations. In fulfillment of the strategic plan goals, Fernbank launched THRIVE: The Nature of Change, a $25 Million capital campaign to a create a new anchor exhibit, 'Changing Earth,new immersive galleries on all three levels of the Museum; revitalize the Hodgson House located in Fernbank Forest; and improve our accessibility and reach with the addition of a second passenger elevator and programs that reinforce our commitment to guests of all abilities, identities, and backgrounds.”