Museum of Science & Industry Inc

“Mosi hires a paid preparer experienced in the preparation of forms 990 to prepare the return. The accounting director works closely with the paid preparer in gathering the information for the return. Management performs a detailed review of the return. The board of directors approves the return before filing.”

“Prior to the annual meeting, the conflict of interest policy is e-mailed to the full board and any new board members being elected. At the annual meeting, questions and answers about policy are reviewed. Any conflict at that point is to be declared and reviewed. Within 30 days after the annual meeting, each board member will have signed and returned the conflict of interest declaration form. Whenever there is a vote on substantive expenditures out of budget, board members are asked if there are any conflicts of interest. Potential conflicts of interest are monitored during the budget approval process by the finance committee and the board, where all members are asked to disclose any potential conflicts of interest with capital or operating expenditures.”

“The compensation and benefits of highly compensated individuals are reviewed prior to any changes and will be approved by the board of directors. The board of directors create a sub-committee to suggest compensation and benefits by comparing relatively similar institutions nationally and locally while setting new goals and objectives for each individual. A record of the deliberation and decision on these individuals' compensation and benefits are maintained in the board meeting minutes.”

“The organization's form 1023 and form 990 are available upon request.”

“The organization makes its governing documents, conflict of interest policy and financial statements available for public inspection upon request.”

“Mosi contracts with a professional employer organization (peo) for administration of the employees. Under this agreement, all employees of mosi are in actuality leased from the peo. Due to this agreement, mosi does not file form w-3 transmittal of wage and tax statements, but rather the peo will file form w-3 which would include the employees of mosi. Leased personnel costs are broken down into components of salaries, payroll taxes, retirement, and other benefits and are reported on the appropriate schedules. Mosi utilized 123 employees through the peo.”

“The organization has not changed its oversight or selection process during the tax year.”