2024-11-08T14:08:07-06:00 2023-12-31 231144520 TAIT WELLER & BAKER LLP 50 SOUTH 16TH STREET SUITE 2900 PHILADELPHIA PA 19102 990 2023-01-01 231370501 THE FRANKLIN INSTITUTE FRAN 2154481200 222 NORTH 20TH STREET PHILADELPHIA PA 19103 LARRY DUBINSKI PRESIDENT & CEO 2154481200 2024-11-08 1 0 HARRISON PEREIRA P00746867 2159798800 2024-11-08 2023 2024-10-15 13:58:12Z LARRY DUBINSKI 222 NORTH 20TH STREET PHILADELPHIA PA 19103 41662431 0 X WWW.FI.EDU X 1824 PA IN THE SPIRIT OF INQUIRY AND DISCOVERY EMBODIED BY BENJAMIN FRANKLIN, THE MISSION OF THE FRANKLIN INSTITUTE IS TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY. 42 41 218 73 88515 45240 11662555 19920726 21937448 15328047 1893222 3391023 550089 958040 36043314 39597836 377533 367693 0 0 12799946 13453369 24003 19613 1731594 14860669 17373044 28062151 31213719 7981163 8384117 173411426 189649707 11110382 10862128 162301044 178787579 X IN THE SPIRIT OF INQUIRY AND DISCOVERY EMBODIED BY BENJAMIN FRANKLIN, THE MISSION OF THE FRANKLIN INSTITUTE IS TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY. 0 0 4254793 367693 648605 EDUCATIONAL PROGRAMS, SERVICES & GRANTS: COMPLETING ITS 31ST YEAR IN 2023, THE PARTNERS FOR ACHIEVING CAREERS IN TECHNOLOGY AND SCIENCE (PACTS) PROGRAM IS ONE OF THE REGION'S OLDEST AND MOST COMPREHENSIVE SCIENCE IMMERSION PROGRAMS FOR MIDDLE SCHOOL STUDENTS. PACTS SERVED 63 STUDENTS FROM AREA PUBLIC SCHOOLS DURING THE 2022-2023 SCHOOL YEAR. IN ITS 23RD YEAR, THE INSTITUTE'S STEM SCHOLARS PROGRAM, A CONCENTRATED PROGRAM OF HIGH SCHOOL STUDENTS WHO SHOW HIGH INTEREST IN AND APTITUDE FOR STEM FIELDS, SERVED 77 STUDENTS. PACTS AND STEM SCHOLARS PROVIDE STUDENTS WITH ACCESS TO STEM PROFESSIONALS, AS WELL AS COLLEGE EDUCATIONAL PROGRAMS AND SERVICES, APPLICATION AND FINANCIAL AID COUNSELING, EXPOSURE TO STEM CAREERS, AND ANNUAL ROBOTICS PROGRAMS. THESE TWO PROGRAMS DELIVER UNIQUE STEM PROGRAMMING TO A DIVERSE AUDIENCE.THE FRANKLIN INSTITUTE ALSO DEVELOPS MODEL PROGRAMS IN SCIENCE LEARNING FOR THE K-12 EDUCATION COMMUNITY THAT ARE DELIVERED BOTH INSIDE AND OUTSIDE THE MUSEUM WALLS, INCLUDING SCIENCE IN THE SUMMER, MISSION2MARS, AND THE CHILDREN'S VACCINE EDUCATION PROGRAM, WHICH SERVED 53,965 PARTICIPANTS ACROSS 33 STATES. 14937655 13713610 MUSEUM ADMISSIONS & OPERATIONS: AS THE MOST VISITED MUSEUM IN THE COMMONWEALTH AND A TOP-FIVE TOURIST DESTINATION IN THE CITY OF PHILADELPHIA, THE FRANKLIN INSTITUTE SERVES AS BOTH A PROMINENT EDUCATION AND CULTURAL RESOURCE, AND AS AN ANCHOR OF THE LOCAL ECONOMY. IN 2023, THE INSTITUTE WELCOMED 663,335 VISITORS TO THE MUSEUM, INCLUDING 78,000 FREE AND DISCOUNTED VISITS PROVIDED TO UNDERSERVED SCHOOLS AND FAMILIES THROUGH THE ACCESS PROGRAM. THE FRANKLIN INSTITUTE'S LONGSTANDING REPUTATION HELPS TO ELEVATE THE COMMONWEALTH AND THE CITY OF PHILADELPHIA AS MODELS FOR CULTURAL AND INFORMAL EDUCATION EXCELLENCE. THE INSTITUTE WELCOMES VISITORS OF ALL AGES TO EXPLORE SCIENCE IN INTERACTIVE EXHIBITS AND PUBLIC PROGRAMS. THE INSTITUTE REMAINS FULLY COMMITTED TO PROVIDING AN EXCEPTIONAL EXPERIENCE FOR ITS MANY VISITORS AND INCREASING SERVICE TO ITS AUDIENCE, EXTENDING THE INSTITUTE'S MISSION- TO INSPIRE A PASSION FOR LEARNING ABOUT SCIENCE AND TECHNOLOGY-TO CHILDREN AND FAMILIES THROUGHOUT GREATER PHILADELPHIA, REGARDLESS OF MEANS, REMAINS, AS ALWAYS, AT THE HEART OF ITS PRIORITIES. IT DOES SO THROUGH OUTSTANDING EXHIBITS AND MANY EDUCATION AND OUTREACH PROGRAMS. 1262133 1314164 THE JOURNAL OF THE FRANKLIN INSTITUTE, THE SECOND OLDEST SCHOLARLY JOURNAL IN CONTINUOUS PUBLICATION IN THE UNITED STATES, HAS INCREASED THE VOLUME OF ARTICLES PER ISSUE,, AS WELL AS THE READERSHIP. ALL 198 YEARS OF THE JOURNAL ARE AVAILABLE ONLINE THROUGH LIBRARIES AND RESEARCH INSTITUTIONS. 5811591 INTEREST AND DEPRECIATION EXPENSE NOT INCLUDED ABOVE.INTEREST $225,850DEPRECIATION $5,585,741 5811591 26266172 1 1 0 1 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 129 0 218 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 42 41 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 PA CA CT FL MD MA NJ NY X X ELBERT BLACK 2154481200 222 N 2OTH STREET PHILADELPHIA PA 19103 LARRY DUBINSKI PRESIDENT & CEO 37.50 X X 829793 0 67565 DONALD E MOREL JR PHD TRUSTEE EMERITUS 1.00 X 0 0 0 THOMAS LYNCH CHAIR 1.00 X X 0 0 0 WADE H BERRETTINI MD PHD TRUSTEE 1.00 X 0 0 0 SUZANNE BODA TRUSTEE 1.00 X 0 0 0 RENEE B BOOTH PHD TRUSTEE 1.00 X 0 0 0 HALLEE ADELMAN TRUSTEE 1.00 X 0 0 0 PETER K CLASSEN TRUSTEE 1.00 X 0 0 0 CHRIS FRANKLIN TRUSTEE 1.00 X 0 0 0 CHRIS FRALIC TRUSTEE 1.00 X 0 0 0 ELIZABETH H GEMMILL TRUSTEE 1.00 X 0 0 0 GRETE GREENACRE TRUSTEE 1.00 X 0 0 0 RICHARD HENRIQUES TRUSTEE 1.00 X 0 0 0 FRANCES E JENSEN MD FACP TRUSTEE 1.00 X 0 0 0 STEPHEN E KELLY TRUSTEE 1.00 X 0 0 0 CHARISSE R LILLIE ESQ TRUSTEE 1.00 X 0 0 0 IRA M LUBERT TRUSTEE 1.00 X 0 0 0 SANDRA K BALDINO TRUSTEE 1.00 X 0 0 0 MIRIAM G MANDELL TRUSTEE 1.00 X 0 0 0 SANDRA G MARSHALL TRUSTEE 1.00 X 0 0 0 CHRISTOPHER MCISAAC TRUSTEE 1.00 X 0 0 0 ROBERT S MCMENAMIN TRUSTEE 1.00 X 0 0 0 PAUL OFFIT MD TRUSTEE 1.00 X 0 0 0 QUENTIN ROACH TRUSTEE 1.00 X 0 0 0 MICHAEL A INNOCENZO TRUSTEE 1.00 X 0 0 0 JOAN N STERN ESQ TRUSTEE 1.00 X 0 0 0 ANDREA ANANIA STEWART TRUSTEE 1.00 X 0 0 0 HAROLD L YOH III TRUSTEE 1.00 X 0 0 0 KAREN ZIMMER MD TRUSTEE 1.00 X 0 0 0 THE HONORABLE DARRELL L CLARKE TRUSTEE, EX OFFICIO 1.00 X 0 0 0 WILLIAM R HITE TRUSTEE 1.00 X 0 0 0 THE HONORABLE JAMES F KENNEY TRUSTEE, EX OFFICIO 1.00 X 0 0 0 THE HONORABLE JOSH SHAPIRO TRUSTEE, EX OFFICIO 1.00 X 0 0 0 VINCENT AMATULLI TRUSTEE 1.00 X 0 0 0 MAUREEN BRENNAN-MILLER TRUSTEE 1.00 X 0 0 0 SAMUEL HAMILTON TRUSTEE 1.00 X 0 0 0 ANTHONY BUCCI TRUSTEE 1.00 X 0 0 0 TOM CARMANICO TRUSTEE 1.00 X 0 0 0 MATTHEW ZELESKO TRUSTEE 1.00 X 0 0 0 SUCHIT BACHALLI TRUSTEE 1.00 X 0 0 0 MARK DICHTER TRUSTEE 1.00 X 0 0 0 JULIA DRANOFF TRUSTEE 1.00 X 0 0 0 ROBERT J MOORE TRUSTEE 1.00 X 0 0 0 MICHAEL CORRIGAN TRUSTEE 1.00 X 0 0 0 KAREN FLYNN TRUSTEE 1.00 X 0 0 0 BARBARA KLOCK TRUSTEE 1.00 X 0 0 0 NYLA KONCURAT TRUSTEE 1.00 X 0 0 0 MICHAEL J NEMEROFF TRUSTEE 1.00 X 0 0 0 IAN WRIGHT TRUSTEE, EX OFFICIO 1.00 X 0 0 0 ALLEN W NICHOLSON PHD TRUSTEE, EX OFFICIO 1.00 X 0 0 0 TONY B WATLINGTON SR EDD TRUSTEE, EX OFFICIO 1.00 X 0 0 0 ERIN ARMSTRONG VP MKT COMM. & DIGITAL MED 37.50 X 229510 0 25657 REBEKAH SASSI VP EXTERNAL AFFAIRS 37.50 X 259391 0 46833 ELBERT BLACK DIRECTOR OF FINANCE 37.50 X 156769 0 29183 KEITH DOUGHTY VP OF FINANCE 37.50 X 153996 0 11487 DARRYL WILLIAMS SVP OF SCIENCE & EDUCATION & HR 37.50 X 292637 0 27753 CHRIS RIZZO VP OF BUSINESS OPERATIONS 37.50 X 206828 0 42683 ABIGAIL BYSSHE CHIEF EXPERIENCE & STRATEGY OFFICER 37.50 X 281004 0 28057 MARK HARMON VP OF OPERATIONS 37.50 X 185789 0 41486 JOY MONTEFUSCO DIRECTOR OF DIGITAL EDITOR TERM 12/1/23 37.50 X 137119 0 33286 JOSEPH TORRIERI DIRECTOR OF IT 37.50 X 160558 0 35496 CASEY SATELL DIRECTOR OF INSTITUTIONAL GIVING 37.50 X 136605 0 28546 DERRICK PITTS CHIEF ASTRONOMER 37.50 X 138036 0 32764 STEFANIE SANTO DIRECTOR OF MEDIA RELATIONS & COMMUNICATIONS 37.50 X 128969 0 9350 3297004 0 460146 26 0 1 0 UNIVERSAL PROTECTION SVC LP PO BOX 828854 PHILADELPHIA PA 19182 SECURITY SERVICES 1176261 ART GUILD INC 300 WOLF DR WEST DEPTFORD NJ 08086 EXHIBIT FABRICATION 931588 ABM INDUSTRY GROUPS LLC PO BOX 419860 BOSTON MA 02241 JANITORIAL 719592 MAYO SEITZ MEDIA INC 555 EAST NORTH LANE SUITE 4000 CONSHOHOCKEN PA 19428 ADVERTISING 457785 LEVY PREMIUM FOODSERVICE LP 980 N MICHIGAN AVE CHICAGO IL 60611 CATERING & FOOD SERVICE 402197 32 349061 1500000 18071665 433123 19920726 MUSEUM ADMISSIONS 900099 7836400 7836400 ANCILLARY ACTIVITIES 900099 3625342 3536827 88515 MEMBERSHIPS 900099 2251868 2251868 GRANTS 900099 541141 541141 EDUCATIONAL PROGRAMS & SERVICES 611710 107464 107464 965832 965832 15328047 2127415 2127415 348332 348332 441730 0 441730 441730 441730 2900939 1637331 1263608 1263608 1263608 554669 349061 427264 127405 127405 MISCELLANEOUS REVENUE 900099 40573 40573 40573 39597836 15239532 88515 4349063 367693 367693 2916422 1982047 179472 754903 7477899 6004283 1271538 202078 451866 348075 64481 39310 1857346 1158587 585737 113022 749836 577602 107001 65233 283603 283603 69500 69500 109400 109400 19613 19613 2252268 2132218 120050 1027412 1002874 24538 473383 374927 61060 37396 594286 543633 50653 2640960 2640960 365511 308970 52989 3552 41957 23796 11829 6332 225850 225850 5585741 5585741 659254 612948 46306 PROGRAM AND EXHIBIT SUP 717147 717147 EVENT EXPENSES 311216 311216 CULTIVATION AND FULFILL 272889 17720 5500 249669 DUES AND SUBSCRIPTIONS 131520 53649 52821 25050 1611147 1276236 279528 55383 31213719 26266172 3215953 1731594 16964476 16833831 4795869 4974639 11075713 13895342 3830937 352463 669502 1000996 161331104 86175505 65963398 75155599 55594853 62015553 14186730 15413931 30544 0 299404 7353 173411426 189649707 3749397 5345300 1430979 1051580 5930006 4465248 11110382 10862128 X 79327115 90668797 82973929 88118782 162301044 178787579 173411426 189649707 X 8384117 7628685 473733 X 0 1 X 1 0 X 18743110 14122513 21226806 11662555 19920726 85675710 18743110 14122513 21226806 11662555 19920726 85675710 14613510 71062200 2264134 1528628 1807428 2123710 2917477 10641377 116895 3063 21130 46240 187328 269700 77671 109818 150184 595242 1202615 97707030 79005043 0.72730 0.69760 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING - 2019 AMOUNT: $ 239,679. 2020 AMOUNT: $ 68,420. 2021 AMOUNT: $ 92,430. 2022 AMOUNT: $ 115,329. 2023 AMOUNT: $ 554,669. FOTO FANTASY COIN PRESS ETC - 2019 AMOUNT: $ 30,021. 2020 AMOUNT: $ 9,251. 2021 AMOUNT: $ 17,388. 2022 AMOUNT: $ 34,855. 2023 AMOUNT: $ 40,573. 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COLLECTION ITEMS ARE HELD AS HISTORICAL TREASURES AND ARE UNDER THE STEWARDSHIP OF THE INSTITUTE ACTING THROUGH ITS PRESIDENT AND CURATORIAL STAFF. THE COST OF CURRENT COLLECTION ADDITIONS TO EXHIBITS, BOOKS AND SCIENTIFIC LITERATURE IS CHARGED TO EXPENSE. A PORTION OF SUCH COST MAY BE REIMBURSED BY DESIGNATED CONTRIBUTED FUNDS AND INCOME OF NET ASSETS WITH DONOR RESTRICTIONS. PART III, LINE 4: THE HISTORICAL AND INTERPRETIVE COLLECTIONS OF THE FRANKLIN INSTITUTE ARE ORGANIZED INTO THREE TYPES OF HOLDINGS: MUSEUM, ARCHIVES AND LIBRARY. THEY EACH PLAY AN INSTRUMENTAL ROLE IN EDUCATIONAL AND PUBLIC PROGRAMMING THROUGH PERMANENT AND TEMPORARY GALLERY EXHIBITIONS; DEVELOPMENT INITIATIVES; OUTREACH, MARKETING AND PROMOTIONAL ACTIVITIES; AND INTERNET-BASED PRESENTATIONS. PART V, LINE 4: SCHEDULE D, PART V, LINE 4 THE ENDOWMENT FUNDS SUPPORT A VARIETY OF THE FRANKLIN INSTITUTE'S ACTIVITIES BASED UPON ORIGINAL DONOR INTENT. ACTIVITIES SUPPORTED INCLUDE THE FOLLOWING: AWARDS PROGRAM, LIBRARY, CURATORIAL AND COLLECTIONS, MUSEUM PROGRAMS, SUBSIDIZED ADMISSION TO THE SCIENCE MUSEUM AND GENERAL OPERATIONS. PART X, LINE 2: MANAGEMENT HAS REVIEWED THE TAX POSITIONS FOR EACH OF THE OPEN TAX YEARS (2020-2022) OR THOSE EXPECTED TO BE TAKEN IN THE INSTITUTE'S 2023 TAX RETURN AND HAS CONCLUDED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT DIRECT EXPENSES 427,264. NET ACTUARIAL LOSS ON DEFINED BENEFIT RETIREMENT PLAN 434,555. NET UNREALIZED GAIN ON INTEREST RATE SWAP 39,178. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT DIRECT EXPENSES 427,264. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 RECEIVED CONTRIBUTIONS FROM DONORS IN THE REGION NORTH AMERICA 0 0 RECEIVED CONTRIBUTIONS FROM DONORS IN THE REGION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X X X X X X X 1 MAE DANILLER & CO 3724 JEFFERSON SUITE 302 AUSTIN TX 78731 CONSULTING - DIRECT MAIL/EMAIL SOLICITATIONS 0 242150 318157 -76007 ARTSMARKETING SERVICES 36 TORONTO STREET SUITE 850 TORONTO ONTARIO CA M5C 2C5 CONSULTING - PHONE SOLICITATIONS 0 128382 93730 34652 370532 411887 -41355 PA NJ CA CT FL MD MA AZ WA NY FRANKLIN AWARDS 903730 349061 554669 198644 228620 903730 349061 554669 198644 228620 427264 127405 1 LAUREATE HONORARIUM 8 320000 PART I, LINE 2: THE INSTITUTE PROVIDES HONORARIUM PAYMENTS TO THE OTHER BENJAMIN FRANKLIN MEDALISTS, WITH THE EXCEPTION OF THE BOWER AWARD FOR BUSINESS LEADERSHIP. THE AWARD WINNERS ARE CHOSEN BY THE COMMITTEE ON SCIENCE AND THE ARTS FOLLOWING A FORMAL NOMINATION AND DELIBERATION PERIOD. THE HONORARIUM PAYMENTS AWARDED ARE NOT GRANTS, SO MONITORING OF USE OF FUNDS IS NOT REQUIRED OR APPROPRIATE. X 1 1 X X X X 1 0 0 0 0 0 0 1 0 LARRY DUBINSKI PRESIDENT & CEO 517063 0 300122 0 12608 0 33236 0 34329 0 897358 0 0 0 DARRYL WILLIAMS SVP OF SCIENCE & EDUCATION & HR 247757 0 44243 0 637 0 14790 0 12963 0 320390 0 0 0 ABIGAIL BYSSHE CHIEF EXPERIENCE & STRATEGY OFFICER 237431 0 43056 0 517 0 16620 0 11437 0 309061 0 0 0 REBEKAH SASSI VP EXTERNAL AFFAIRS 218497 0 40106 0 788 0 15481 0 31352 0 306224 0 0 0 ERIN ARMSTRONG VP MKT COMM. & DIGITAL MED 197955 0 30420 0 1135 0 14042 0 11615 0 255167 0 0 0 CHRIS RIZZO VP OF BUSINESS OPERATIONS 178836 0 27284 0 708 0 12594 0 30089 0 249511 0 0 0 MARK HARMON VP OF OPERATIONS 160124 0 24960 0 705 0 10719 0 30767 0 227275 0 0 0 JOSEPH TORRIERI DIRECTOR OF IT 154964 0 4820 0 774 0 11164 0 24332 0 196054 0 0 0 ELBERT BLACK DIRECTOR OF FINANCE 134808 0 21547 0 414 0 9981 0 19202 0 185952 0 0 0 DERRICK PITTS CHIEF ASTRONOMER 128730 0 7020 0 2286 0 8362 0 24402 0 170800 0 0 0 JOY MONTEFUSCO DIRECTOR OF DIGITAL EDITOR TERM 12/1 131716 0 0 0 5403 0 9817 0 23469 0 170405 0 0 0 KEITH DOUGHTY VP OF FINANCE 133406 0 20411 0 179 0 9601 0 1886 0 165483 0 0 0 CASEY SATELL DIRECTOR OF INSTITUTIONAL GIVING 129325 0 7118 0 162 0 9892 0 18654 0 165151 0 0 0 PART I, LINE 1A DURING 2022, THE FRANKLIN INSTITUTE PROVIDED MEMBERSHIP IN THE UNION LEAGUE OF PHILADELPHIA FOR THE PRESIDENT AND CEO. PART I, LINE 7 REFER TO SCHEDULE O, DISCLOSURE FOR FORM 990, PART VI, SECTION B, LINE 15A AND 15B, PROCESS USED TO DETERMINE EXECUTIVE COMPENSATION. A PHILADELPHIA AUTHORITY FOR INDUSTRIAL DEVELOPMENT 232237287 717818QG8 2006-03-22 14095000 REFINANCED DEBT, FUNDING FOR PRIOR CAPITAL PROJECTS 0 0 0 A 9605000 14265843 206552 5358 14058055 1990 0 1 1 1 A 0 0 0 0 0 0 1 A 1 1 1 BANK OF AMERICA 20.000000000000 0 0 0 0 1 A 1 X 9 433123 MARKET VALUE 0 1 1 PART I, LINE 32B: THE FRANKLIN INSTITUTE UTILIZES A BROKER TO IMMEDIATELY SELL ANY GIFTS OF SECURITIES UPON RECEIPT OF THE GIFT. FORM 990, PART VI, SECTION A, LINE 2 CHRISSE LILLIE HAS A BUSINESS RELATIONSHIP WITH MICHAEL INNOCENZO. FORM 990, PART VI, SECTION B, LINE 11B THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE DRAFT FORM 990, AND APPROVES THE FORM 990 PRIOR TO IT BEING FILED WITH THE IRS. AND, A COMPLETE COPY OF FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FRANKLIN INSTITUTE BOARD MEMBERS AND SENIOR MANAGEMENT STAFF COMPLETE AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE AND DISCLOSURE FORM WHICH INCLUDES ACKNOWLEDGING RECEIPT OF, AND FAMILIARITY WITH, THE INSTITUTE'S CODE OF CONDUCT AND ETHICS POLICY. IN ADDITION, ALL EMPLOYEES RECEIVE THE CODE OF CONDUCT AND ETHICS POLICY APPROVED BY THE BOARD OF TRUSTEES. THE DIRECTOR OF FINANCE REVIEWS THE COMPLETED ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES AND PROVIDES A SUMMARY FOR REVIEW BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 KEY EMPLOYEES AND OFFICERS OF THE FRANKLIN INSITUTE IN 2022 INCLUDED THE FOLLOWING INDIVIDUALS: LARRY DUBINSKI, PRESIDENT AND CEO REBEKAH SASSI, VICE PRESIDENT OF EXTERNAL AFFAIRS & SECRETARY ERIN ARMSTRONG, VICE PRESIDENT OF MARKETING, COMMUNICATIONS, DIGITAL MEDIA & ASST. SECRETARY MARK HARMON, VICE PRESIDENT OF OPERATIONS DARRYL WILLIAMS, SENIOR VICE PRESIDENT OF SCIENCE & EDUCATION & HR CHRIS RIZZO, VICE PRESIDENT OF BUSINESS OPERATIONS ABIGAIL BYSSHE, CHIEF EXPERIENCE & STRATEGY OFFICER KEITH DOUGHTY, VP OF FINANCE & TREASURER ELBERT BLACK, DIRECTOR OF FINANCE & ASSISTANT TREASURER THE PROCESS THE FRANKLIN INSTITUTE USES TO ESTABLISH COMPENSATION FOR OFFICERS AND KEY EMPLOYEES INCLUDES A COMPLETE REVIEW OF EXECUTIVE COMPENSATION LEVELS BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES OF THE FRANKLIN INSTITUTE. THE REVIEW IS BASED ON A MARKET ANALYSIS PREPARED BY A COMPENSATION CONSULTING FIRM USING PUBLISHED COMPENSATION SURVEYS FOR BOTH NOT-FOR-PROFIT AND FOR-PROFIT ORGANIZATIONS COMPARABLE IN SIZE TO THE FRANKLIN INSTITUTE. COMPENSATION DECISIONS ARE MADE ON TWO LEVELS: RECOMMENDATIONS ARE MADE BY THE PRESIDENT AND CEO TO THE COMPENSATION COMMITTEE FOR APPROVAL OF ACTIONS REGARDING THE COMPENSATION OF SENIOR VICE PRESIDENTS AND VICE PRESIDENTS. THE COMPENSATION COMMITTEE DEVELOPS RECOMMENDATIONS FOR THE PRESIDENT AND CEO'S COMPENSATION AND REFERS ITS RECOMMENDATIONS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 THE FRANKLIN INSTITUTE'S FORM 990 IS POSTED ANNUALLY ON GUIDESTAR.ORG. THE FRANKLIN INSTITUTE PUBLISHES AN ANNUAL REPORT, WHICH INCLUDES THE AUDITED STATEMENT OF OPERATIONS AND CHANGES IN NET ASSETS AND THE AUDITED STATEMENT OF FINANCIAL POSITION. THE FRANKLIN INSTITUTE'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET UNREALIZED GAIN ON INTEREST RATE SWAP 39,178. NET ACTUARIAL LOSS ON DEFINED BENEFIT RETIREMENT PLAN 434,555.