Bay Area Discovery Museum

“The full board of trustees of the museum receives and has the opportunity to review the form 990 before it is filed.”

“To ensure the museum operates in a manner consistent with charitable purposes and does not engage in activities that could jeopardize its tax-exempt status, periodic reviews shall, at a minimum, include the following subjects: (a) whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining; (b) whether partnerships, joint ventures and arrangements with management organizations conform to the written policies of the museum, are properly recorded, reflect reasonable investment or payments for goods and services, further charitable purposes and do not result in inurement, impermissible private benefit or in an excess benefit transaction; and whether the governing documents and policies and procedures of the museum are compliant with current laws.”

“All members of the board or compensation committee who approve compensation arrangements must not have a conflict of interest with respect to the compensation arrangement as specified in irs regulation section 53.4958-6(c)(iii), which generally requires that each board member or committee member approving a compensation arrangement between this organization and a "disqualified person" (as defined in section 4958(f)(1) of the internal revenue code and as amplified by section 53.4958-3 of the irs regulations). The board or compensation committee shall obtain and rely upon appropriate data as to comparability prior to approving the terms of compensation. Appropriate data may include the following: (1) compensation levels paid by similarly situated organizations, both taxable and tax-exempt, for functionally comparable positions. "similarly situated organizations are those of a similar size and purpose with similar resources; (2) the availability of similar services in the geographic area of this organization; (3) current compensation surveys compiled by independent firms; and (4) actual written offers from similar institutions competing for the services of the person who is the subject of the compensation arrangement. The terms of compensation and the basis for approving them shall be recorded in written minutes of the meeting of the board or compensation committee that approved the compensation. Such documentation shall include: (1) the terms of the compensation arrangement and the date it was approved; (2) the members of the board or compensation committee who were present during debate on the transaction, those who voted on it, and the votes cast by each board or committee member; (3) the comparability data obtained and relied upon and how the data was obtained; (4) if the board or compensation committee determines that reasonable compensation for a specific position in this organization or for providing services under any other compensation arrangement with this organization is higher or lower than the range of comparability data obtained, the board or committee shall record in the minutes of the meeting the basis for its determination.”

“The museum makes its financial statements available to the public as part of its annual report, which is available from the website of the museum or upon written request. The museum makes its governing documents and conflict of interest policy available to the public upon written request.”

“Other professional fees: program service expenses 19,060. Management and general expenses 618,096. Fundraising expenses 71,356. Total expenses 708,512.”

“This process has not changed fromthe prior year.”