Childrens Creativity Museum

“In accordance with common practice in the non-profit community, the board delegates certain matters to the Executive Committee which is empowered to act between board meetings, if necessary, and sometimes with specifically delegated authority to act on behalf of the full board. The Executive Committee consists of the Chair, Vice-Chair, Secretary, Treasurer, at-Large board members, and the Executive Director.”

“Form 990 is prepared by an outside tax professional. The form is then reviewed by the organization's management. After a full review, the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.”

“Members of the Board of Directors review all potential conflicts of interest periodically. Top management and all Board members are required to disclose potential conflicts and any related party affiliations. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.”

“Members of the board of directors review the compensation of all high-level personnel periodically in accordance with IRS rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with IRS guidelines and the organization's policies and procedures.”

“Compensation of other personnel and highly compensated employees is reviewed periodically by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.”

“All of the organization's governing documents, financial statements, and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to our website and to www.guidestar.org (where they are available for viewing as electronic copies) and are also available by request from the organization's office.”

“Property and Equipment----------------------Property and equipment consist of the following at June 30, 2014 and 2013: 2014 2013 ---------- ----------Computers and Software $ 112,507 130,184Exhibits 218,772 289,276Furniture and Fixtures 45,953 54,919Leasehold improvements 50,314 56,714Multimedia Equipment 54,956 93,329Theater Equipment 38,026 38,026Less: accumulated depreciation (434,135) (529,973) ---------- ---------- $ 86,393 132,474 ========== ==========Depreciation expense amounted to $56,197 and $76,217 for the years ended June 30, 2014 and 2013, respectively. During the year ended June 30, 2014, CCM disposed of partially-depreciated property with an original cost basis of $152,150, resulting in a loss of $115. During the year ended June 30, 2013, CCM disposed of partially-depreciated property with an original cost basis of $53,145, resulting in a loss of $1,241.”

“Other program services 4:”

“Under the California Nonprofit Integrity Act, an exempt organization with annual revenue of $2 million or more is required to have an Audit Committee to select an audit Firm, review the audit, and approve the audit of its annual financial statements.”

“Subsequent to filing the original tax return, Children's Creativity Museum underwent an audit of its financial statements. Upon conclusion of the examination, certain modifications were made to the tax return and this required the preparation and submission of an amended return.”

“In 1998, the San Francisco Redevelopment Agency (SFRA) opened the Childrens Creativity Museum (originally called Zeum) after undertaking a comprehensive community planning process with educators, artists, and childrens advocates. The Agency paid for the planning, design, and construction of the Museum as part of the $56,000,000 development of the entire childrens block that includes the Yerba Buena Ice Skating and Bowling Center, Yerba Buena Gardens Child Development Center, a caf, 130,000 square feet of outdoor play and learning gardens, and the historic Leroy King Carousel. The City and County of San Francisco continues to support the Museum with an operating agreement which provides funds for security, operations, and maintenance.”

“fostering the next generation. Our visitors are among the most diverse in the nation with 38% Caucasian, 24% Asian, 15% Hispanic/atino, 12% multicultural, 7% other and 2% African American. 11% of our visitors identify as having children with learning differences.”