| Part VI, Section A, Question 11b |
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. |
| Part VI, Section B, Question 12c |
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. |
| Part VI, Section B, Question 15a |
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. |
| PART VI, SECTION B, QUESTION 15B |
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. |
| Part VI, Section C, Question 19 |
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. |
| Form 990, Part III, Question 4a |
Exhibits and giant screen movies: Fernbank Museum offers a diversity of programming, including a variety of indoor and outdoor exhibitions and films. During 2021, Fernbank presented blockbuster special exhibitions including: Maya: Hidden Worlds Revealed; Crocs - Ancient Predators in a Modern World; Antarctic Dinosaurs; Habitats; Games in the Gallery; Woodland Spirits; and the perennial favorite, 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 Australia's Great Wild North; Hidden Pacific; Turtle Odyssey and Sea Lions. |
| Form 990, Part III, Question 4b |
To expand on exhibitions and movies, Fernbank Museum offers a broad array of thematic family enrichment programs, including our popular Family Discovery Days, which bring families together through the shared experience of science learning. Fernbank also offers a robust portfolio of school programs including our K-12 campus-wide Exploratory Science Classes for students who visit on a fieldtrip. Virtual programs, Fernbank on the GO community outreach (a mobile museum program), and Museum Access, an admissions scholarship assistance program, are provided to expand our reach to underserved audiences and give them equitable access to Fernbank's unique brand of science education. |
| Form 990, Part III, Question 4c |
Strategic Initiatives: In 2016, Fernbank became a unified campus with the addition of WildWoods, a 10-acre woodland and immersive path into a restored and healthy Fernbank Forest. Guided by a new 5-year strategic plan, adopted in 2019, Fernbank is advancing new education and strategic initiatives that will address STEAM literacy and the significance of biodiversity 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 us; 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. |
| FORM 990, PART VIII, Line 1e |
In April 2020, the Organization obtained a Small Business Administration ("SBA") loan under the Paycheck Protection Program Flexibility Act ("PPPFA") in the amount of $843,900. The Paycheck Protection Program ("PPP") loan bears interest at 1% and will follow the repayment terms outlined by the Coronavirus Aid, Relief, and Economic Securities Act (the "CARES Act") and PPPFA. In June 2021, the Organization obtained PPPFA loan forgiveness and recorded the funds within other changes in the accompanying statement of activities and changes in net assets. In March 2021, the Organization obtained a second Small Business Administration loan under the PPPFA in the amount of $849,000. The second PPP loan had the same provisions as the PPPFA first loan mentioned above. IN MAY 2022, The Organization OBTAINED PPPFA LOAN FORGIVENESS. 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 AND 2020, the Organization met the conditions required by the ERC and recognized grant revenue of $789,315 AND $376,521, RESPECTIVELY. In July 2021, the Organization received a federal grant, Shuttered Venue Operators Grant (SVOG), from the Small Business Administration in the amount of $2,921,562. The SVOG grant is conditioned upon certain performance requirements and/ or the incurrence of allowable qualifying expenses. Amounts received are recognized as revenue when the Organization has incurred expenditures in compliance with specific grant provisions. During 2021, the Organization recorded revenue from the SVOG in the amount of $2,921,562. |
Attach to Form 990 or 990-EZ.