2024-05-14T18:41:37-05:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE ST 13TH FLOOR BOSTON MA 02109 990 2022-07-01 262637707 GMTO CORPORATION GMTO 6262040544 300 NORTH LAKE AVENUE 14TH FLOOR PASADENA CA 91101 ALAN GORDON CFO 6262040544 2024-05-14 1 ALAN GORDON 999009999 0 ERIN COUTURE P01390592 6177237900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z ROBERT SHELTON 300 NORTH LAKE AVENUE 14TH FLOOR PASADENA CA 91101 194662618 0 X WWW.GMTO.ORG X 2007 DE UNDERTAKE DESIGN, DEVELOPMENT, CONSTRUCTION & OPERATION OF THE GIANT MAGELLAN TELESCOPE. 13 13 99 13 0 0 31875324 193810505 0 0 344780 852113 0 0 32220104 194662618 0 0 0 0 19949092 21722436 0 0 2217480 17216356 14657657 37165448 36380093 -4945344 158282525 321703747 488723180 20765776 27326631 300937971 461396549 GMTO CORPORATION IS A COLLABORATIVE EFFORT BETWEEN UNIVERSITIES AND RESEARCH INSTITUTIONS TO BUILD A NEXT GENERATION EXTREMELY LARGE TELESCOPE FOR ASTRONOMICAL RESEARCH. 0 0 27105174 THE PURPOSE OF THE CORPORATION IS TO UNDERTAKE THE DESIGN, DEVELOPMENT, CONSTRUCTION AND OPERATION OF THE GIANT MAGELLAN TELESCOPE ("GMT"), A STATE-OF-THE-ART NEXT-GENERATION ASTRONOMICAL TELESCOPE, AS A COLLABORATIVE EFFORT BETWEEN UNIVERSITIES AND RESEARCH ORGANIZATIONS. ALL CONTRIBUTIONS AND ALL EXPENSES ARE GEARED TOWARD THE FULFILLMENT OF THAT PURPOSE. DURING THE FISCAL YEAR ENDING JUNE 30, 2023, GMTO CONTINUED ON THE WORK ON ITS PRIMARY MIRROR SEGMENTS AND DESIGN WORK ON MAJOR SUBSYSTEMS, INCLUDING PROTOTYPING, AND UNDERWENT VARIOUS DESIGN REVIEWS. 27105174 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 50 0 1 99 1 0 1 CI 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X ALAN GORDON 6262040544 300 NORTH LAKE AVENUE 14TH FLOOR PASADENA CA 91101 WALTER MASSEY CHAIR, BOARD OF DIRECTORS 1.00 0.00 X X 0 0 0 TAFT ARMANDROFF VICE CHAIR, BOARD OF DIRECTORS 1.00 0.00 X X 0 0 0 CHARLES ALCOCK BOARD MEMBER (THRU 07/2022) 1.00 0.00 X 0 0 0 WAYNE ALEXANDER BOARD MEMBER 1.00 0.00 X 0 0 0 JACK BALDAUF BOARD MEMBER 1.00 0.00 X 0 0 0 BUELL JANNUZI BOARD MEMBER 1.00 0.00 X 0 0 0 LISA KEWLEY BOARD MEMBER (FROM 07/2022) 1.00 0.00 X 0 0 0 JOHN MULCHAEY BOARD MEMBER 1.00 0.00 X 0 0 0 CLAUDIA LUCIA MENDES DE OLIVEIRA BOARD MEMBER (THRU 10/2022) 1.00 0.00 X 0 0 0 MICHAEL MCCARTHY BOARD MEMBER (THRU 10/2022) 1.00 0.00 X 0 0 0 BYEONG-GON PARK BOARD MEMBER 1.00 0.00 X 0 0 0 SUNG HYUN PARK BOARD MEMBER 1.00 0.00 X 0 0 0 SARAH PEARCE BOARD MEMBER 1.00 0.00 X 0 0 0 JOAQUIN RUIZ BOARD MEMBER 1.00 0.00 X 0 0 0 RANDY STRINGER BOARD MEMBER (FROM 10/2022) 1.00 0.00 X 0 0 0 CHRIS TINNEY BOARD MEMBER 1.00 0.00 X 0 0 0 ROBERT SHELTON PRESIDENT 40.00 0.00 X 494519 0 78776 ALAN GORDON TREASURER / CFO / VP, BUSINESS OPS. 40.00 0.00 X 265862 0 80590 SARA LEE KELLER SEC. / GEN COUNSEL (THRU 09/2022) 40.00 0.00 X 195569 0 60527 JENNIFER ECCLES - INTERIM SEC (10/22-3/23) / VP, DEV. & EX. REL. 40.00 0.00 X 233091 0 43316 KEVIN MILLS - SEC VP LEGAL AFFAIRS / GEN COUNSEL (FROM 04/2023) 40.00 0.00 X 0 0 0 JAMES FANSON PROJECT MANAGER (THRU 03/2023) 40.00 0.00 X 327111 0 70707 WILLIAM BURGETT INTERIM PROJECT MANAGER 40.00 0.00 X 263610 0 64715 REBECCA BERNSTEIN PROJECT SCIENTIST 40.00 0.00 X 337161 0 62536 BRUCE BIGELOW SITE, ENCLOSURE, FACILITIES MGR 40.00 0.00 X 238048 0 58253 GLENN BROSSUS INTERIM DEPUTY PROJECT MANAGER 40.00 0.00 X 239113 0 83244 RICK DEMERS WAVEFRONT SENSING & CTRL. MANAGER 40.00 0.00 X 243651 0 59343 FRANK GROARK DEPUTY OPT. & OPTICAL METROLOGY MGR. 40.00 0.00 X 238285 0 79866 3076020 0 741873 70 0 1 1 UNIVERSITY OF ARIZONA 888 N EUCLID AVENUE TUCSON AZ 85719 MIRROR FABRICATION 5742450 IDOM CONSULTING ENGG ARCHITECTURE 330 2ND AVE 600 MINNEAPOLIS MN 55401 ARCHITECTURAL & ENGG. SVCS. 5350079 SMITHSONIAN ASTROPHYSICAL OBSERVATORY 60 GARDEN STREET CAMBRIDGE MA 02138 DESIGN 2437254 AD OPTICA CONSORTIUM VIA ROMA 87 VLAMADRERA LE IT FABRICATION AND TEST 1864458 CONPAX MONTAJES SPA SANTA CLARA 300 HUECHURABA SANTIAGO CI WATER PACKAGE CONTRACTOR 962418 38 4437801 189372704 193810505 852113 852113 194662618 0 0 852113 1779789 666812 1112977 15424641 11730355 2750838 943448 2096509 1639392 327097 130020 1438933 1073212 304858 60863 982564 722643 191853 68068 167893 167893 167169 167169 288022 288022 50542 50542 1591113 1082260 500160 8693 106604 75086 24102 7416 703972 495841 159159 48972 890859 627474 201412 61973 687014 497929 129960 59125 457512 237209 213295 7008 1551942 1093107 350874 107961 568073 400121 128434 39518 RESEARCH & DEVELOPMENT 4926486 4926486 REPAIRS & MAINTENANCE 980562 736101 243209 1252 ADVANCEMENT 346407 3877 342530 CHILE CAMP EXPENSES 329369 329369 844118 767900 33607 42611 36380093 27105174 7057439 2217480 16159879 10871882 35798338 181174834 262443 494329 997619 717753 18034162 8727461 10203821 9306701 33563229 34504631 224718418 251653050 321703747 488723180 16848696 22900915 3694438 1416141 222642 3009575 20765776 27326631 X 266945501 281456875 33992470 179939674 300937971 461396549 321703747 488723180 158282525 243574 1932479 0 X 0 1 X 1 1 1 X 39203907 1982812 7313279 31875324 193810505 274185827 39203907 1982812 7313279 31875324 193810505 274185827 274185827 1893096 2216724 1458490 344780 852113 6765203 280951030 0.97590 0.92390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 288022 288022 0 PART II-B, LINE 1: GMTO WORKS WITH THREE OUTSIDE LOBBYING FIRMS TO DEVELOP AND EXECUTE GOVERNMENT RELATIONS STRATEGIES TO ADVOCATE ISSUES RELATED TO ASTRONOMY AND SCIENCE. $288,022 WAS PAID TO THE LOBBYING FIRMS IN FISCAL YEAR 2023. 97203 97203 0 8661218 5084462 3576756 9275741 3545796 5729945 9306701 WORK IN PROCESS 248817300 RIGHT OF USE ASSET 2835750 251653050 LEASE LIABILITY 3009575 3009575 X 196838671 243574 1932479 2176053 194662618 0 194662618 36380093 0 36380093 0 36380093 PART X, LINE 2: EXPLANATION FOR UNCERTAIN TAX POSITIONS UNDER FIN 48/ASC 740: THE CORPORATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS MORE-LIKELY-THAN-NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE (THE "CODE"), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE CORPORATION HAS ALSO BEEN RECOGNIZED BY THE CALIFORNIA FRANCHISE TAX BOARD AS A CORPORATION THAT IS EXEMPT FROM CALIFORNIA FRANCHISE AND INCOME TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. THE CORPORATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS, TO IDENTIFY AND REPORT UNRELATED BUSINESS INCOME, TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS, AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE CORPORATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. EAST ASIA AND THE PACIFIC 0 5 PROGRAM SERVICES ENGINEERING SERVICES 718633 EUROPE (INCLUDING ICELAND & GREENLAND) 0 9 PROGRAM SERVICES ENGINEERING SERVICES 8214266 NORTH AMERICA 0 3 PROGRAM SERVICES CONSULTING SERVICES 86418 SOUTH AMERICA 0 1 PROGRAM SERVICES DESIGN SERVICES 268899 SOUTH AMERICA 2 23 PROGRAM SERVICES BUSINESS OFFICE 2723527 2 41 0 0 2 41 12011743 0 12011743 0 0 0 0 0 0 PART III ACCOUNTING METHOD: PART 1, LINE 3, COLUMN F: ACTIVITIES PER REGION: THERE IS A BUSINESS OFFICE IN SANTIAGO, CHILE TO HOUSE SUPPORT STAFF. THERE IS ALSO A DORMITORY TYPE OF HOUSING, A CONSTRUCTION OFFICE AND CONSTRUCTION ACTIVITIES AT THE SITE WHERE THE TELESCOPE WILL BE BUILT. THE BUSINESS OFFICE HANDLES LOCAL PROCUREMENT AND FINANCIAL ACTIVITIES. PART 1, LINE 3, COLUMN F: EXPENDITURES PER REGION: THE EXPENDITURES FOR EACH REGION ARE RECORDED USING THE ACCRUAL METHOD OF ACCOUNTING. X X X X X 0 0 0 0 0 0 0 0 0 ROBERT SHELTON PRESIDENT 494519 0 0 0 0 0 61000 0 17776 0 573295 0 0 0 REBECCA BERNSTEIN PROJECT SCIENTIST 337161 0 0 0 0 0 48130 0 14406 0 399697 0 0 0 JAMES FANSON PROJECT MANAGER (THRU 03/2023) 327111 0 0 0 0 0 59292 0 11415 0 397818 0 0 0 ALAN GORDON TREASURER / CFO / VP, BUSINESS OPS. 265862 0 0 0 0 0 53460 0 27130 0 346452 0 0 0 WILLIAM BURGETT INTERIM PROJECT MANAGER 263610 0 0 0 0 0 53300 0 11415 0 328325 0 0 0 GLENN BROSSUS INTERIM DEPUTY PROJECT MANAGER 239113 0 0 0 0 0 48785 0 34459 0 322357 0 0 0 FRANK GROARK DEPUTY OPT. & OPTICAL METROLOGY MGR. 238285 0 0 0 0 0 47852 0 32014 0 318151 0 0 0 RICK DEMERS WAVEFRONT SENSING & CTRL. MANAGER 243651 0 0 0 0 0 47928 0 11415 0 302994 0 0 0 BRUCE BIGELOW SITE, ENCLOSURE, FACILITIES MGR 238048 0 0 0 0 0 46838 0 11415 0 296301 0 0 0 JENNIFER ECCLES - INTERIM SEC (10/22-3/23) / VP, DEV. & EX. REL. 233091 0 0 0 0 0 34263 0 9053 0 276407 0 0 0 SARA LEE KELLER SEC. / GEN COUNSEL (THRU 09/2022) 195569 0 0 0 0 0 39567 0 20960 0 256096 0 0 0 PART II, LINES 5, 6 & 8: REBECCA BERNSTEIN IS A SECONDED EMPLOYEE THAT PROVIDES SERVICES TO GMTO AND IS COMPENSATED BY THE CARNEGIE INSTITUTION FOR SCIENCE, AN UNRELATED ORGANIZATION. GMTO REIMBURSES THE CARNEGIE INSTITUTION FOR SCIENCE FOR SALARY AND BENEFITS RELATED TO THE SERVICES PROVIDED TO GMTO. THE AMOUNTS INCLUDED IN PART VII AND SCHEDULE J, PART II REPRESENT REBECCA BERNSTEIN'S COMPENSATION IN CONNECTION WITH THE SERVICES PROVIDED TO GMTO. FORM 990, PART VI, SECTION A, LINE 6 ORGANIZATION'S MEMBERS GMTO WAS FOUNDED AS A COLLABORATIVE EFFORT BETWEEN UNIVERSITIES AND RESEARCH ORGANIZATIONS TO BUILD THE GIANT MAGELLAN TELESCOPE ("GMT"). OVERSIGHT OF THE PROJECT IS CONDUCTED BY GMTO'S BOARD OF DIRECTORS WHICH CURRENTLY INCLUDES REPRESENTATIVES FROM THE FOUNDING INSTITUTIONS ("FOUNDERS"). A FOUNDER SHALL BE A MEMBER OF GMTO FOR AS LONG AS GMTO EXISTS, UNLESS THAT FOUNDER'S INTEREST IN GMTO IS TRANSFERRED, WITHDRAWN, OR TERMINATED IN ACCORDANCE WITH THE TERMS OF THE FOUNDERS' AGREMEENT OR BY OPERATION OF LAW. FORM 990, PART VI, SECTION A, LINE 7A THE FOUNDERS DICTATE WHO IS ON THE BOARD AND ANY VACANCY ON THE BOARD SHALL BE FILLED IN ACCORDANCE TO THE FOUNDERS' AGREEMENT. FORM 990, PART VI, SECTION A, LINE 7B THERE ARE CERTAIN GOVERNANCE DECISIONS RESERVED TO THE FOUNDERS. FORM 990, PART VI, SECTION B, LINE 11B PROCESS USED TO REVIEW FORM 990 GMTO'S MANAGEMENT GATHERS THE INFORMATION REQUIRED TO COMPLETE THE FORM 990. THE FORM 990 IS PREPARED BY GRANT THORNTON'S TAX TEAM. A DRAFT OF THE FORM 990 IS REVIEWED BY THE GMTO PRESIDENT, CFO, AND GENERAL COUNSEL. ONCE APPROVED, THE DRAFT FORM IS EMAILED TO THE GMTO AUDIT COMMITTEE. ONCE APPROVED, THE FORM IS DISTRIBUTED TO THE VOTING BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C PROCESS USED TO MONITOR AND ENFORCE CONFLICT OF INTEREST POLICY ANNUALLY EACH BOARD MEMBER AND EMPLOYEE WHO IS IDENTIFIED AS AN "INSIDER" MUST COMPLETE A DOCUMENT IN WHICH THE MEMBER ATTESTS WHETHER ANY CONFLICTS OF INTEREST EXIST. IF THE BOARD DETERMINES THAT A CONFLICT OF INTEREST EXISTS, THE BOARD WILL TAKE REASONABLE STEPS TO ENSURE THE CONFLICT IS PROPERLY ADDRESSED, AND THE INTERESTS OF GMTO ARE PROTECTED. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION AN INDEPENDENT COMPENSATION FIRM IS ENGAGED TO VALIDATE PROPOSED COMPENSATION PACKAGES WHEN THE PRESIDENT, OFFICERS OR KEY EMPLOYEES ARE HIRED. THE PROPOSED COMPENSATION PACKAGE IS BASED UPON COMPARABILITY DATA. ADDITIONALLY, THE FINANCE COMMITTEE HAS THE RESPONSIBILITIES OF A COMPENSATION COMMITTEE TO APPROVE ALL HIGHER-LEVEL MANAGEMENT COMPENSATION PACKAGES AND MAKE RECOMMENDATIONS TO THE BOARD FOR APPROVAL. FOR ALL OTHER EMPLOYEES, PROPOSED COMPENSATION PACKAGES ARE DETERMINED BY USING COMPARABLE DATA AND/OR ENGAGING AN INDEPENDENT COMPENSATION AND BENEFITS CONSULTING FIRM. FORM 990, PART VI, SECTION C, LINE 19 METHOD OF MAKING DOCUMENTS AVAILABLE TO THE PUBLIC THESE DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST.