2025-02-11T13:58:12-06:00 2024-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2023-07-01 560529944 DISCOVERY PLACE INC DISC 7043481964 301 NORTH TRYON STREET CHARLOTTE NC 28202 CATHERINE WILSON HORNE CHIEF EXECUTIVE OFFICER 7043481964 2025-02-10 1 1 MELANIE MCPEAK P01346034 7043771678 2023 2025-03-06 01:10:19Z CATHERINE WILSON HORNE 301 NORTH TRYON STREET CHARLOTTE NC 28202 15712112 0 X WWW.DISCOVERYPLACE.ORG X 1947 NC TRANSFORMATIVE SCIENCE, NATURE, AND DESIGN EXPERIENCES PROVIDED FOR OVER 360,000 GUESTS. 25 25 231 209 53720 31417 9656093 2930727 8647028 9609028 201432 311154 1071985 1230067 19576538 14080976 0 0 0 0 8799146 9541784 0 0 804406 6681901 8138785 15481047 17680569 4095491 -3599593 125480419 122863847 4829104 4342237 120651315 118521610 X WE BRING SCIENCE, NATURE, AND DESIGN TOGETHER TO CREATE TRANSFORMATIVE EXPERIENCES THAT ENABLE OUR COMMUNITY TO UNDERSTAND, ENJOY, AND APPLY SCIENCE TO THEIR LIVES. 0 0 13810036 10785375 EDUCATIONAL PROGRAMS, EXPERIENCES AND EXHIBITS: DISCOVERY PLACE, INC. OPERATES FOUR MUSEUMS SERVING OVER 623,483 GUESTS ANNUALLY INCLUDING NEARLY 69,136 THROUGH AN ECONOMIC ACCESSIBILITY PROGRAM CALLED THE WELCOME PROGRAM. SIGNIFICANT PROGRESS WAS MADE ON TWO CAPITAL FACILITIES PROJECTS IN FISCAL YEAR 2024: GROUNDBREAKING AND CONSTRUCTION BEGAN FOR THE NEW DISCOVERY PLACE NATURE FACILITY SCHEDULED TO OPEN IN MID/LATE 2026. ADDITIONALLY, DISCOVERY PLACE INVESTED IN A SIGNIFICANT RENOVATION AND UPGRADE OF DISCOVERY PLACE KIDS ROCKINGHAM WHICH WAS COMPLETED IN SPRING OF 2024. WE RECOGNIZED RESTRICTED CONTRIBUTION REVENUES RELATED TO THE FUTURE CONSTRUCTION OF DISCOVERY PLACE NATURE AND RENOVATION OF DISCOVERY PLACE KIDS ROCKINGHAM AND INCURRED INCREMENTAL EXPENSES TO SUPPORT THE DEVELOPMENT EFFORTS OF CAPITAL FACILITIES PROJECTS. THESE ACTIVITIES ARE REFLECTED IN THE OVERALL REVENUE AND SUPPORT. MARVEL: UNIVERSE OF SUPERHEROS: 64,858DISCOVERY PLACE OPENED MARVEL: UNIVERSE OF SUPERHEROES IN MAY 2023. THIS IS THE FIRST LARGE SCALE TRAVELING BLOCKBUSTER EXHIBITION HOSTED SINCE 2018. IN FISCAL YEAR 2024 WE HOSTED THIS EXHIBITION FROM JULY THROUGH JANUARY 2024. DURING THIS TIME WE WELCOMED OVER 64,858 VISITORS TO THIS SHOW FEATURING ORIGINAL ART, COSTUMES, AND ARTIFACTS FROM THE MARVEL UNIVERSE. IMAX: 55,326IN FISCAL 2024, DISCOVERY PLACE OPERATED THE ACCENTURE IMAX DOME THEATER FEATURING IMAX LASER PROJECTION, A 12-CHANNEL SOUND SYSTEM, AND DIGISTAR 7 PLANETARIUM SOLUTION. THIS YEAR THE ATTENDANCE MORE THAN DOUBLED. THE PROGRAMMING INCLUDED FIRST-RUN HOLLYWOOD FILMS, DOCUMENTARIES, AND ALTERNATIVE CONTENT SUCH AS MESMERICA. WE CONTINUED TO SEE THESE OFFERINGS ATTRACT NEW AUDIENCES, ESPECIALLY ADULTS.OUTREACH/YOUTH DEVELOPMENT/SUMMER CAMPS/WORKSHOPS: OUTREACH AND THE DIGITAL STUDIO PROGRAMMING SERVED OVER 22,433 STUDENTS IN FISCAL 2024. BEYOND SCHOOL DAY PROGRAMS, THIS WAS A STRONG YEAR WITH MULTIPLE AFTERSCHOOL CONTRACTS ALLOWING US TO SERVE YOUTH IN OUR COMMUNITY WITH STEM HANDS-ON LEARNING OVER MULTIPLE VISITS, WHICH PROVIDES A DEEPER DIVE FOR STUDENTS. YOUTH DEVELOPMENT PROGRAMMING IN FISCAL 2024 INCLUDED SEVERAL PROGRAMS TARGETING YOUTH IN MIDDLE - HIGH SCHOOL. THE STEM APPRENTICE PROGRAM WAS ABLE TO ONBOARD 273 VOLUNTEERS TO ASSIST WITH CAMP AND MUSEUM PROGRAMMING, INCLUDING 4 MAYORS YOUTH EMPLOYMENT INTERNS. GIRLS DAY OUT SUCCESSFULLY SERVED 230 FEMALE STUDENTS OVER 8 ENGAGEMENTS THROUGH ON-SITE PROGRAMMING FOCUSED ON CAREERS IN STEM. GIRLS IN STEM HOSTED 7 HIGH SCHOOL GIRLS AND BUILT SEVERAL ROBOTIC PROJECTS. THE STEM PATHWAYS INTERNSHIP RECRUITED 18 HIGH SCHOOL STUDENTS WHILE PROVIDING LIFE SKILLS AND ON-SITE WORK EXPERIENCE IN OUR MUSEUMS. YOUTH DEVELOPMENT SERVED OVER 530 STUDENTS DURING FY24.IN FISCAL 2024 WE COMPLETED OUR THIRD YEAR OF PROGRAMMING FUNDED BY THE LEGO FOUNDATION. OUR DISCOVERY THROUGH DESIGN INITIATIVE INCLUDED THE FORMATION OF A COMMUNITY OF PRACTICE, SUPPORTING NOT ONLY DISCOVERY PLACE EXPERIENCE AND OPERATIONS TEAM MEMBERS BUT ALSO COMMUNITY PARTNERS FROM GREATER ENRICHMENT PROGRAM OF CHARLOTTE AND OURBRIDGE FOR CHILDREN. OVER THE COURSE OF THE YEAR, PROGRAM PARTICIPANTS RECEIVED DEEP TRAINING ON HOW TO INCORPORATE LEARNING THROUGH PLAY INTO OUR WORK. THROUGH THIS GRANT 175,121 YOUTH WERE SERVED AND 174,817 ADULTS WITH OUR COMMUNITY PARTNERS AND VISITORS TO DISCOVERY PLACE MUSEUMS.SUMMER CAMPS SERVED 5,200 CHILDREN ACROSS THREE DISCOVERY PLACE LOCATIONS - SCIENCE, NATURE AND KIDS. IT WAS ANOTHER SUCCESSFUL SEASON OF LEARNING WITH WEEKLY THEMES FOR CHILDREN IN PREK-8TH GRADE. ADULT PROGRAMMING: 13,455IN FISCAL 2024, DISCOVERY PLACE HOSTED SCIENCE ON THE ROCKS AND ADDED SEVERAL NEW PROGRAMS INCLUDING MACABRE MASQUARADE, THE SPEAKEASY, AND SCIENCE STUDIOS. THESE PROGRAMS ARE DESIGNED FOR 21+. SCIENCE ON THE ROCKS IS AN EVENING PROGRAM WHICH FEATURES ACCESS TO MUSEUM EXHIBITS, HANDS-ON SCIENCE EXPERIENCES, LIVE SHOWS, LIVE MUSIC, IMAX OFFERINGS, WORKSHOPS, FOOD AND BEVERAGE AND MORE. MACABRE MASQUARADE AND THE SPEAKEASY WERE TWO NEW LARGE SCALE EVENTS FEATURING DECORATIONS, COSTUME CONTESTS, THEMED ACTIVITIES AND TALENT SUCH AS AERIALISTS AND CHEF COOKING DEMONSTRATIONS, AND MORE. SCIENCE STUDIOS ARE DESIGNED TO HIGHLIGHT TOPICAL AREAS OF INTEREST SUCH AS SPACE EXPLORATION, FOOD, WELLNESS, AND MORE. TOGETHER THESE EVENTS HAVE ALLOWED US TO REACH NEW ADULT AUDIENCES AND EXPAND OUR CAPACITY TO REACH DIFFERENT AUDIENCE SEGMENTS THROUGH DIVERSIFICATION OF OUR OFFERINGS.DISCOVERY PLACE KIDS SPECIAL PROGRAMMING : 1,381IN ADDITION TO OUR DAILY PROGRAMMING, BOTH DISCOVERY PLACE KIDS HOSTED SOME OF OUR SIGNATURE EVENTS. THESE EVENTS INCLUDE, COUNTDOWN TO KINDERGARTEN AND NOON YEARS EVE. COUNTDOWN TO THE KINDERGARTEN IS A KINDERRGARTEN READINESS EVENT THAT OCCURS IN PARTNERSHIP WITH OUR LOCAL SCHOOL SYSTEMS. ITS GREAT OPPORTUNITY FOR OUR RISING KINDERGARTENERS TO MEET THEIR TEACHERS AND SEE A FAMILIAR FACE ON THE FIRST DAY OF SCHOOL. BOTH DISCOVERY PLACE KIDS LOCATIONS WERE ABLE TO SERVE OVER 675 GUESTS. DISCOVERY PLACE KID-HUNTERSVILLE CONTINUED THEIR SCIENCE THEMED HALLOWEEN EVENT CALLED GHOULY GALA. IN FY24 EVENT SERVED 145 GUESTS. DISCOVERY PLACE KID-HUNTERSVILLE ALSO LAUNCHED A NEW LITERACY THEMED EVENT CALLED STORYBOOK BALL. THIS INAUGURAL EVENT SERVED 561 GUESTS. 13810036 1 1 0 0 0 0 0 1 0 1 1 1 0 1 0 1 1 0 0 0 0 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 54 0 1 231 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 25 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC SC X X CATHERINE W HORNE 7043481964 301 NORTH TRYON STREET CHARLOTTE NC 28202 ADITYA BHASIN CHAIR 4.00 0.00 X X 0 0 0 PAUL CAMUTI GOVERNANCE CHAIR 3.00 0.00 X X 0 0 0 HOLLY WELCH STUBBING ED, EXP, INNO CO-VICE CHAIR 3.00 0.00 X X 0 0 0 SAGAR RATHIE ED, EXP, INNO CO-VICE CHAIR 3.00 0.00 X X 0 0 0 JEFF WALLACE FINANCE & INVESTMENT CHAIR 3.00 0.00 X X 0 0 0 LAURA BOWLES AUDIT VICE CHAIR 3.00 0.00 X X 0 0 0 DAVID ATKINSON HUMAN CAPITAL VICE CHAIR 3.00 0.00 X X 0 0 0 STEFANIE HOLLAND SECRETARY 3.00 0.00 X X 0 0 0 CHARLIE MORRIS TRUSTEE 2.00 0.00 X 0 0 0 LINDSAY MCCULLOUGH TRUSTEE 2.00 0.00 X 0 0 0 RICH CAMPBELL TRUSTEE 2.00 0.00 X 0 0 0 TERA BLACK TRUSTEE 2.00 0.00 X 0 0 0 DEREK WANG TRUSTEE 2.00 0.00 X 0 0 0 JASON BERND TRUSTEE 2.00 0.00 X 0 0 0 TODD GORELICK TRUSTEE 2.00 0.00 X 0 0 0 REEM ANANI TRUSTEE 2.00 0.00 X 0 0 0 SUSHMA WALKER TRUSTEE 2.00 0.00 X 0 0 0 TRACY KERRINS TRUSTEE 2.00 0.00 X 0 0 0 STEPHANIE SADOWSKI TRUSTEE 2.00 0.00 X 0 0 0 BRYAN DELANEY TRUSTEE 2.00 0.00 X 0 0 0 FRANK CHATMAN TRUSTEE 2.00 0.00 X 0 0 0 NAZY WEEKS TRUSTEE 2.00 0.00 X 0 0 0 EMILY HENSON TRUSTEE 2.00 0.00 X 0 0 0 RYAN FAGAN TRUSTEE 2.00 0.00 X 0 0 0 BEN PSYCH TRUSTEE 2.00 0.00 X 0 0 0 CATHERINE WILSON HORNE CHIEF EXECUTIVE OFFICER 55.00 0.00 X 494878 0 39300 ANNE N IBEKWE CHIEF FINANCIAL OFFICER 60.00 0.00 X 208323 0 21391 SARAH BORDY LANE CHF ADVANCEMENT OFF. (THRU 3/5/24) 55.00 0.00 X 260669 0 21037 JENNIFER JOYCE CHIEF MARKETING OFFICER 55.00 0.00 X 175490 0 22644 HEATHER NORTON CHIEF SCIENCE OFFICER 55.00 0.00 X 167618 0 16975 ERVIN GOURDINE CHIEF TALENT OFFICER 50.00 0.00 X 163999 0 22796 DAN STREELMAN CHF EXHIBIT & ENVIRONMENT OFFICER 50.00 0.00 X 132881 0 13233 NIKOLE HILL CHIEF LEARNING OFFICER 55.00 0.00 X 124666 0 6623 KEN DAVIDSON CONTROLLER 55.00 0.00 X 117871 0 12423 SARAH FANTEL CHIEF OF STAFF 50.00 0.00 X 103055 0 9256 BARRETT LONG SR DIRECTOR IT 50.00 0.00 X 102598 0 11180 2052048 0 196858 11 0 1 0 KRAEMER DESIGN & PRODUCTION LLC 252 LUDLOW AVENUE CINCINNATI OH 45220 EXHIBIT DESIGN 2332500 ATTAIN CONSULTING GROUP LLC 1650 TYSONS BLVD SUITE 1530 MCLEAN VA 22102 SYSTEM IMPLEMENTATION 616682 LCK LLC P O BOX 11129 COLUMBIA SC 29211 PROJECT MANAGEMENT 403121 SPARROW AUDIO VISUAL ENTERTAINMENT LLC 3590B US HWY 31 SOUTH STE 311 PELHAM AL 35129 DESIGN 306550 ADAMS OUTDOOR ADVERTISING PO BOX 809140 CHICAGO IL 606809140 ADVERTISING 180238 7 1263675 1667052 4869 2930727 ADMISSIONS/WORKSHOPS 713990 7929741 7929741 MEMBERSHIP FEES 713990 1434073 1434073 245214 245214 9609028 278289 278289 1418658 1863 1387656 0 31002 1863 32865 32865 638431 243480 394951 394951 PARKING REVENUE 532000 835116 781396 53720 835116 14080976 10785375 53720 311154 1615120 550843 782571 281706 6568168 5178181 1090873 299114 201010 124208 64144 12658 590365 409993 150252 30120 567121 410147 116300 40674 8706 8706 57330 57330 1166459 983998 142768 39693 1122248 1058559 63568 121 954225 686875 247949 19401 604277 529423 63812 11042 41049 22767 10230 8052 119812 71261 42491 6060 21901 14657 6274 970 1539 1539 1409312 1257643 151669 156853 156806 47 EXHIBIT/MUSEUM PROGRAMS 1928410 1898701 25491 4218 PROGRAM SUPPLIES 272818 262112 3252 7454 REPAIRS & MAINTENANCE 175665 164380 11285 UBIT 4950 4950 93231 24532 25576 43123 17680569 13810036 3066127 804406 7128883 6047971 1146922 2034746 3549190 2431582 1905780 429871 164966 165488 1786207 519900 49110512 35461735 12590023 13648777 196972 209148 9458336 10062937 87553140 87313427 125480419 122863847 2669216 2534580 2159888 1807657 4829104 4342237 X 17498659 16068566 103152656 102453044 120651315 118521610 125480419 122863847 X -3599593 662298 -1535741 2343331 X 0 1 X 1 0 X 4246813 6154077 9983774 9656093 2930727 32971484 2809030 2789279 4479075 2786715 2823642 15687741 7055843 8943356 14462849 12442808 5754369 48659225 1557884 47101341 97316 694 316 109097 278289 485712 33046 20532 23812 21699 32417 131506 49276443 34103276 0.95590 0.96090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 0 26732479 2461484 1489209 27704755 5579730 21044133 355708 247092 26732479 6457565 -635074 242761 5579730 5186711 1512650 241796 6457565 5364429 55315 233033 5186711 0.00000 1.00000 0.00000 1 0 16959469 9535351 7424118 3938624 3094842 843782 28212419 22831542 5380877 13648777 POOLED INVESTMENTS - FFTC 10062937 F 10062937 BENEFICIAL INTERESTS IN TRUSTS 26498277 DEFERRED COMMITMENT FROM CITY OF CHARLOTTE 53056903 LIFE INSURANCE POLICY CONTRIBUTION 23493 DEFERRED COMMITMENT FROM TOWN OF HUNTERSVILLE 6038915 DEFERRED COMMITMENT FROM TOWN OF ROCKINGHAM 1301110 DEFERRED 457(B) ASSET 364729 GIANT DOME THEATER CONSORTIUM INVESTMENT 30000 87313427 X 20153727 662298 2823642 2343331 5829271 14324456 -243480 -243480 14080976 18507386 583337 243480 826817 17680569 0 17680569 PART III, LINE 1A: DONATED COLLECTIONS RECEIVED SINCE DISCOVERY PLACE'S INCEPTION ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION, AS THEY ARE HELD FOR PUBLIC EXHIBITION AND EDUCATION RATHER THAN FOR FINANCIAL GAIN. PART III, LINE 4: COLLECTION OF NATURAL HISTORY OBJECTS WHICH INCLUDE ROCKS AND MINERALS, SHELLS, FOSSILS, AND TAXIDERMY OBJECTS USED IN PUBLIC EXHIBITIONS IN THE MUSEUM AND FOR REFERENCE MATERIALS IN EDUCATION PROGRAMS CONDUCTED BY THE MUSEUM. PART V, LINE 4: THE INTENDED PURPOSE OF THE ENDOWMENT FUNDS IS TO SUPPORT THE OPERATIONS OF THE ORGANIZATION. ANY DISBURSEMENTS RECEIVED FROM THE ENDOWMENT FUNDS ARE USED TO SUBSIDIZE OPERATING EXPENSES. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: DISCOVERY PLACE IS EXEMPT FROM INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. MANAGEMENT EVALUATED DISCOVERY PLACE'S TAX POSITIONS AND CONCLUDED THAT DISCOVERY PLACE HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTERESTS 2,343,331. PART XI, LINE 4B - OTHER ADJUSTMENTS: GIFT SHOP COST OF GOODS SOLD -243,480. PART XII, LINE 2D - OTHER ADJUSTMENTS: GIFT SHOP COST OF GOODS SOLD 243,480. X X X X X X 0 0 0 0 0 0 0 0 0 CATHERINE WILSON HORNE CHIEF EXECUTIVE OFFICER 487555 0 0 0 7323 0 30225 0 9075 0 534178 0 0 0 SARAH BORDY LANE CHF ADVANCEMENT OFF. (THRU 3/5/24) 163031 0 10000 0 87638 0 15371 0 5666 0 281706 0 0 0 ANNE N IBEKWE CHIEF FINANCIAL OFFICER 202941 0 3000 0 2382 0 14725 0 6666 0 229714 0 0 0 JENNIFER JOYCE CHIEF MARKETING OFFICER 170838 0 4000 0 652 0 17011 0 5633 0 198134 0 0 0 ERVIN GOURDINE CHIEF TALENT OFFICER 159104 0 4000 0 895 0 16108 0 6688 0 186795 0 0 0 HEATHER NORTON CHIEF SCIENCE OFFICER 160485 0 7000 0 133 0 15997 0 978 0 184593 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE ACCOUNTING FIRM PRESENTS FORM 990 AND AUDITED FINANCIAL STATEMENTS TO THE AUDIT COMMITTEE AND SOME BOARD MEMBERS THAT ATTEND THE MEETING. AFTER THE MEETING MANAGEMENT EMAIL THE 990 AND THE FINANCIAL AUDIT REPORT TO ALL BOARD MEMBERS AND GIVE THEM A WEEK TO REVIEW AND ASK ANY QUESTIONS. ANY QUESTION RAISED IS ANSWERED TO THE BOARD'S SATISFACTION. IF THERE ARE NO FURTHER QUESTIONS, MANAGEMENT WILL INSTRUCT THE ACCOUNTING FIRM TO FINALIZE THE REPORTS AND FILE ACCORDINGLY. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR EMPLOYEES AND BOARD OF DIRECTORS ARE REQUIRED TO READ AND SIGN THE CONFLICT OF INTEREST AND RETURN TO THE HUMAN RESOURCE CHIEF TALENT OFFICER WHO THEN FILES THE SIGNED DOCUMENTS. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE DETERMINED AND APPROVED THE CEO AND OTHER OFFICERS' COMPENSATION THROUGH THE FOLLOWING PROCESS: A FORMAL EVALUATION/REVIEW OF THE INDIVIDUAL'S PERFORMANCE. A REVIEW OF BENCHMARKING DATA FROM LIKE ORGANIZATIONS. TAKING INTO CONSIDERATION THE STATE OF THE DISCOVERY PLACE'S FINANCIAL POSITION. CONSULTATION WITH AN INDEPENDENT COMPENSATION CONSULTANT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE PERIOD OF TIME SET FORTH IN SECTION 6104(D). THE REQUEST CAN BE FULFILLED BY PROVIDING A COPY OF SAID DOCUMENTS OR ALLOWING INSPECTION AT THE ORGANIZATION'S OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTERESTS 2,343,331.