| Form 990, Part VI, Section B, Line 11b |
The Museum's Form 990 is prepared by the staff of the Accounting Department and reviewed by the Interim VP Finance. It is also reviewed and analyzed by the Museum's outside Auditors. It is then presented to the Audit and Risk Management Committee of the Museum's Board for further review and approval. After Audit Committee approval, the final version of Form 990 is provided to all members of the Museum's Board before the form is filed. |
| Form 990, Part VI, Section B, Line 12c |
Upon election/hiring, and annually thereafter, all Museum Trustees, Advisors (an advisory, but non-governing body), and Key Employees are required to fill out a Conflict of Interest form which solicits detailed information about associations with companies, organizations, and each other which may represent a conflict of interest with respect to the Museum. The forms are reviewed at least annually by both the Assistant Controller, RF & Compliance and Interim VP Finance to identify any reported conflicts which may require disclosure and/or further follow-up. Using publicly available sources, additional research is undertaken by Museum staff to identify business and organizational associations which were not reported on the Conflict of Interest forms. With respect to business relationships between the Museum and companies associated with Trustees or Key Employees, it is the Museum's policy to subject such companies to the same procurement policies, procedures, and requirements as it applies to other, non-related, firms. |
| Form 990, Part VI, Section B, Line 15 |
The Compensation Committee of the Museum's Board meets twice yearly, once in spring and once in the late summer or early fall. The first meeting is focused on establishing a recommendation to the Finance Committee that budgets for the upcoming fiscal year's museum-wide merit increase pool. The second meeting is focused on the review of the performance of Key Employees and other senior leadership staff for the prior year and to approve the recommendations of the President for any salary increases. In addition, the Committee reviews the performance and compensation of the President and recommends any adjustment to compensation if warranted. - In order to do this in a fully knowledgeable manner, the Committee annually reviews information obtained by the Chief People Officer though a variety of resources. These resources include an outside survey group used to benchmark each of the senior management positions including the President against local non-profit organizations that are of a similar size. In addition, the Museum uses public resources such as Guidestar to access salaries of key people in Museums located in metropolitan areas. Finally, the Museum participates in and receives information from local and regional salary surveys of other museums in New England. This process gives a clear picture of local, regional, and national salary levels for its senior management. - The Compensation Committee reviews this information in addition to the history of compensation increases, overall performance of the individual and of the Museum prior to approving or making recommendations for compensation increases. |
| Form 990, Part VI, Section C, Line 19 |
The Museum's financial statements, Form 990, and other key documents are available in either hard copy or electronically upon request. Form 990 is also available through publicly accessible websites such as Guidestar.org. The audited financial statements are available on the Museum's website at http://www.mos.org/annual-reports. |
| Form 990, Part IX, Line 11g |
Other services consists of consulting, creative services, systems service contracts, architectural services, and a number of other outside services. |
| Form 990, Part XI, Line 9 |
Change in value of split interest agreements -$3,140,573; amortization of liability $276,568; capitalized bond fees $; rounding variances -$887. |
Attach to Form 990 or 990-EZ.