2025-05-09T18:18:53-05:00 2024-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2023-07-01 262637707 GMTO CORPORATION GMTO 6262040544 300 NORTH LAKE AVENUE 14TH FLOOR PASADENA CA 91101 ALAN GORDON CFO 6262040544 2025-05-09 1 1 ERIN COUTURE P01390592 6177237900 2023 2025-03-06 01:10:19Z ROBERT SHELTON 300 NORTH LAKE AVENUE 14TH FLOOR PASADENA CA 91101 21214460 0 X WWW.GIANTMAGELLAN.ORG X 2007 DE UNDERTAKE DESIGN, DEVELOPMENT, CONSTRUCTION & OPERATION OF THE GIANT MAGELLAN TELESCOPE. 14 14 98 14 0 0 193810505 19984346 0 0 852113 1230114 0 0 194662618 21214460 0 0 0 0 21722436 23209930 0 0 2486366 14657657 22833541 36380093 46043471 158282525 -24829011 488723180 460859174 27326631 10248989 461396549 450610185 GMTO CORPORATION IS A COLLABORATIVE EFFORT BETWEEN UNIVERSITIES AND RESEARCH INSTITUTIONS TO BUILD A NEXT GENERATION EXTREMELY LARGE TELESCOPE FOR ASTRONOMICAL RESEARCH. 0 0 36535321 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, 2024, GMTO CONTINUED ON THE WORK ON ITS PRIMARY MIRROR SEGMENTS AND DESIGN WORK ON MAJOR SUBSYSTEMS, INCLUDING PROTOTYPING, AND UNDERWENT VARIOUS DESIGN REVIEWS. 36535321 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 1 0 0 0 0 0 0 0 0 1 54 0 1 98 1 0 1 CI 0 0 0 0 0 0 0 0 0 0 X 14 14 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 WAYNE ALEXANDER BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN ARNOLD BOARD MEMBER (FROM 2/24) 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 1.00 0.00 X 0 0 0 JOHN MULCHAEY BOARD MEMBER 1.00 0.00 X 0 0 0 BYEONG-GON PARK BOARD MEMBER 1.00 0.00 X 0 0 0 CHAN PARK BOARD MEMBER (FROM 10/23) 1.00 0.00 X 0 0 0 SUNG HYUN PARK BOARD MEMBER (THRU 10/23) 1.00 0.00 X 0 0 0 SARAH PEARCE BOARD MEMBER 1.00 0.00 X 0 0 0 JOAQUIN RUIZ BOARD MEMBER (THRU 10/23) 1.00 0.00 X 0 0 0 VITOR DE SOUZA BOARD MEMBER (FROM 2/24) 1.00 0.00 X 0 0 0 RANDY STRINGER BOARD MEMBER 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 506774 0 84774 ALAN GORDON CFO & VP OF BUSINESS OPERATIONS 40.00 0.00 X 277861 0 84457 KEVIN MILLS VP FOR LEGAL AFFAIRS & GEN. COUNSEL 40.00 0.00 X 204033 0 61749 WILLIAM BURGETT PROJECT MANAGER 40.00 0.00 X 298986 0 68680 GLENN BROSSUS DEPUTY PROJECT MANAGER 40.00 0.00 X 257772 0 89621 REBECCA BERNSTEIN PROJECT SCIENTIST 40.00 0.00 X 304380 0 67121 FRANK GROARK DEPUTY OPT. & OPTICAL METROLOGY MGR. 40.00 0.00 X 247134 0 84649 RICHARD DEMERS WAVEFRONT SENSING & CONTROL MANAGER 40.00 0.00 X 251954 0 61646 BRUCE BIGELOW SITE, ENCLOSURE, FACILITIES MGR 40.00 0.00 X 246956 0 60674 JENNIFER ECCLES VP FOR DEVELOPMENT & EXTERNAL RELAT. 40.00 0.00 X 255487 0 47152 2851337 0 710523 82 0 1 1 INGERSOLL MACHINE TOOLS INC 707 FULTON AVENUE ROCKFORD IL 61103 ENGINEEERING 10103739 IDOM CONSULTING ENGG ARCHITECTURE 330 2ND AVE 600 MINNESAPOLIS MN 55401 ARCHITECTURAL & ENGINEERING SERVICE 5506504 OHB DIGITAL CONNECT GMBH WEBERSTRASSE 21 MAINZ GM 55130 ENGINEERING 3378217 SMITHSONIAN ASTROPHYSICAL OBSERVATORY 60 GARDEN STREET CAMBRIDGE MA 02138 DESIGN 3268892 AD OPTICA CONSORTIUM VIA ROMA 87 23868 VLAMADRERA LE IT FABRICATION AND TEST 2770111 32 3964403 16019943 8859446 19984346 1230114 1230114 21214460 0 0 1230114 2084558 744477 1340081 16448985 12279381 3145879 1023725 2210650 1710902 359996 139752 1414811 1070053 293917 50841 1050926 761950 216581 72395 77365 700 75850 815 140129 140129 288000 288000 40078 40078 713362 483279 214475 15608 63124 44835 14159 4130 515402 366080 115604 33718 680721 483503 152685 44533 589259 449839 93551 45869 520702 329641 171151 19910 685 685 1633111 1159967 366305 106839 631573 448594 141661 41318 RESEARCH & DEVELOPMENT 14293823 14293823 CHILE CAMP EXPENSES 583168 578710 4055 403 ADVANCEMENT 575030 965 29107 544958 REPAIRS & MAINTENANCE 473655 440389 32571 695 1014354 888233 73264 52857 46043471 36535321 7021784 2486366 10871882 6933175 181174834 151284239 494329 430761 717753 770846 28212959 10110572 9306701 18102387 34504631 19865266 0 0 0 0 251653050 263472500 488723180 460859174 22900915 7517240 1416141 238945 3009575 2492804 27326631 10248989 X 281456875 299638056 179939674 150972129 461396549 450610185 488723180 460859174 -24829011 300209 13742438 0 X 0 1 X 1 1 1 X 1982812 7313279 31875324 193810505 19984346 254966266 1982812 7313279 31875324 193810505 19984346 254966266 254966266 2216724 1458490 344780 852113 1230114 6102221 261068487 0.97660 0.97590 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 0 1 7200 0 1 288000 295200 0 PART II-B, LINE 1: LINE 1G: DURING THE FISCAL YEAR ENDING JUNE 30, 2024, GMTO PERSONNEL ENGAGED IN CERTAIN MEETING AND TRAVELS THAT HAD A LOBBYING COMPONENT. A PORTION OF PERSONNEL TIME AND TRIP COSTS ARE INCLUDED IN LOBBYING EXPENSES. LINE 1I: GMTO WORKS WITH TWO OUTSIDE LOBBYING FIRMS TO DEVELOP AND EXECUTE GOVERNMENT RELATIONS STRATEGIES TO ADVOCATE ISSUES RELATED TO ASTRONOMY AND SCIENCE. $288,000 WAS PAID TO THE LOBBYING FIRMS IN FISCAL YEAR 2024. 0 97203 97203 0 9073863 5719561 3354302 19041893 4293808 14748085 18102387 WORK IN PROCESS 261147227 RIGHT OF USE ASSET 2325273 263472500 LEASE LIABILITY 2492804 2492804 X 35257107 300209 13742438 14042647 21214460 0 21214460 46043471 0 46043471 0 46043471 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 4 PROGRAM SERVICES ENGINEERING SERVICES 903254 EUROPE (INCLUDING ICELAND & GREENLAND) 0 11 PROGRAM SERVICES ENGINEERING SERVICES 12045252 NORTH AMERICA 0 3 PROGRAM SERVICES CONSULTING SERVICES 54228 SOUTH AMERICA 0 2 PROGRAM SERVICES DESIGN SERVICES 402409 SOUTH AMERICA 2 20 PROGRAM SERVICES BUSINESS OFFICE 3078130 2 40 0 0 2 40 16483273 0 16483273 0 0 0 0 0 0 PART I, LINE 3, COLUMN F: ACTIVITIES PER REGION: THERE IS A BUSINESS OFFICE IN SANTIAGO, CHILE FOR ADMINISTRATIVE 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 I, 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 506774 0 0 0 0 0 66000 0 18774 0 591548 0 0 0 REBECCA BERNSTEIN PROJECT SCIENTIST 304380 0 0 0 0 0 51392 0 15729 0 371501 0 0 0 WILLIAM BURGETT PROJECT MANAGER 298986 0 0 0 0 0 56606 0 12074 0 367666 0 0 0 ALAN GORDON CFO & VP OF BUSINESS OPERATIONS 277861 0 0 0 0 0 55890 0 28567 0 362318 0 0 0 GLENN BROSSUS DEPUTY PROJECT MANAGER 257772 0 0 0 0 0 50742 0 38879 0 347393 0 0 0 FRANK GROARK DEPUTY OPT. & OPTICAL METROLOGY MGR. 247134 0 0 0 0 0 50965 0 33684 0 331783 0 0 0 RICHARD DEMERS WAVEFRONT SENSING & CONTROL MANAGER 251954 0 0 0 0 0 49572 0 12074 0 313600 0 0 0 BRUCE BIGELOW SITE, ENCLOSURE, FACILITIES MGR 246956 0 0 0 0 0 48600 0 12074 0 307630 0 0 0 JENNIFER ECCLES VP FOR DEVELOPMENT & EXTERNAL RELAT. 255487 0 0 0 0 0 37544 0 9608 0 302639 0 0 0 KEVIN MILLS VP FOR LEGAL AFFAIRS & GEN. COUNSEL 204033 0 0 0 0 0 36463 0 25286 0 265782 0 0 0 PART II, LINE 2: REBECCA BERNSTEIN IS A SECONDED EMPLOYEE THAT PROVIDES SERVICES TO GMTO AND IS COMPENSATED BY THE CARNEGIE INSTITUTION FOR SCIENCE. 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. X HARDWARE 1 7182329 FMV X MATERIALS 1 1677117 FMV 0 0 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTORS IN COLUMN (B). 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.