2024-05-15T14:10:23-05:00 2023-06-30 461171913 S D MAYER & ASSOCIATES LLP 235 MONTGOMERY STREET 26TH FL SAN FRANCISCO CA 94104 990 2022-09-01 941254644 MECHANICS' INSTITUTE MECH 4153930108 57 POST STREET 504 SAN FRANCISCO CA 94104 KATHERINE BELLA CHIEF EXECUTIVE OFFICER 4153930108 2024-05-15 1 KATHERINE BELLA 999009999 0 W NOEL MCNABOLA P00181055 4156914040 2024-05-16 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KATHERINE BELLA 57 POST STREET 504 SAN FRANCISCO CA 94104 4777542 0 X HTTP://WWW.MILIBRARY.ORG/ X 1854 CA FOUNDED IN 1854, THE MECHANICS' INSTITUTE IS ONE OF THE OLDEST INSTITUTIONS ON THE WEST COAST OF THE UNITED STATES. ITS MISSION IS TO PROVIDE A CENTER FOR INTELLECTUAL AND CULTURAL ADVANCEMENT. LOCATED IN THE FINANCIAL DISTRICT OF SAN FRANCISCO, IT SERVES INDIVIDUALS AND FAMILIES THROUGHOUT THE BAY AREA OFFERING A VIBRANT LIBRARY WITH FULL-TIME PROFESSIONAL STAFF, EXPERT INSTRUCTION AND COMPETITION IN CHESS, AND A FULL CALENDAR OF ENGAGING CULTURAL EVENTS, PROGRAMS, AND CLASSES. 13 13 57 20 0 0 625926 2344008 284512 250813 421390 336301 41836 124711 1373664 3055833 0 0 0 0 1633152 1662215 0 0 54204 598244 527560 2231396 2189775 -857732 866058 17963730 19395093 679437 533423 17284293 18861670 X FOUNDED IN 1854, THE MECHANICS' INSTITUTE IS ONE OF THE OLDEST INSTITUTIONS ON THE WEST COAST OF THE UNITED STATES. ITS MISSION IS TO PROVIDE A CENTER FOR INTELLECTUAL AND CULTURAL ADVANCEMENT.LOCATED IN THE FINANCIAL DISTRICT OF SAN FRANCISCO, IT SERVES INDIVIDUALS AND FAMILIES THROUGHOUT THE BAY AREA OFFERING A VIBRANT LIBRARY WITH FULL-TIME PROFESSIONAL STAFF, EXPERT INSTRUCTION AND COMPETITION IN CHESS, AND A FULL CALENDAR OF ENGAGING CULTURAL EVENTS, PROGRAMS, AND CLASSES. 0 0 1316278 27973 LIBRARY - THE INSTITUTE MAINTAINS A COLLECTION OF APPROXIMATELY 10,000 NON-CIRCULATING BOOKS AND PERIODICALS AND MORE THAN 100,000 CIRCULATING BOOKS AND PERIODICALS, AS WELL AS REFERENCE AND RESEARCH SUPPORT SERVICES TO APPROXIMATELY 3,000 MEMBERS. 51729 224455 CHESS ROOM - THE INSTITUTE HOSTS CLASSES FOR CHILDREN AND ADULTS. IT ALSO HOLDS TOURNAMENTS, AND REVENUE FROM THESE EVENTS HELPS SUPPORT CHESS ACTIVITIES. 13784 22207 EVENTS - THE INSTITUTE HOSTS EDUCATIONAL AND CULTURAL EVENTS, CLASSES, AND PROGRAMS. ALL PROGRAMS ARE OPEN TO THE GENERAL PUBLIC AND MEMBERS. 1381791 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 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 28 0 1 57 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X THE ORGANIZATION 4153930108 57 POST STREET SAN FRANCISCO CA 94104 LINDSEY TONSAGER PRESIDENT 1.00 X X 0 0 0 LINDSEY CRITTENDEN FIRST VICE-PRESIDENT 1.00 X X 0 0 0 RICHARD LAIDERMAN SECOND VICE-PRESIDENT 1.00 X X 0 0 0 DAVID B GOODWIN THIRD VICE-PRESIDENT 1.00 X X 0 0 0 SHEILA CUNNINGHAM TREASURER 1.00 X X 0 0 0 ARNOLD GRISHAM TRUSTEE 1.00 X 0 0 0 LAURA HAMADY TRUSTEE 1.00 X 0 0 0 MIKE HILLIARD TRUSTEE 1.00 X 0 0 0 JERRY MOSKOWITZ TRUSTEE 1.00 X 0 0 0 CHARLES SULLIVAN TRUSTEE 1.00 X 0 0 0 JOHN DONALDSON TRUSTEE 1.00 X 0 0 0 TOM LOCKARD TRUSTEE 1.00 X 0 0 0 KATHERINE BELLA TRUSTEE 1.00 X 0 0 0 KIMBERLY SCRAFANO FORMER CHIEF EXECUTIVE OFFICER 37.50 X 200392 0 0 ANDREW ROSE INTERIM CHIEF EXECUTIVE OFFICER 37.50 X 58689 0 0 BOBBIE B MONZON DIRECTOR OF OPERATIONS 37.50 X 105431 0 0 364512 0 0 2 0 1 0 SULLIVAN THOMPSON 16 JESSIE ST STE 209 SAN FRANCISCO CA 94105 MASONRY SERVICES 241203 1 173526 2170482 2344008 CHESS ROOM 900099 224455 224455 EVENT INCOME 900099 22207 22207 LIBRARY SERVICES 900099 4151 4151 250813 56522 56522 802572 701683 100889 100889 100889 1299805 1020026 279779 279779 279779 NET GAIN FROM INSURANCE CLAIM 900099 17284 17284 OTHER INCOME 900099 6538 6538 23822 3055833 274635 0 437190 270133 180989 81040 8104 1119798 747757 334550 37491 46519 33959 12560 118030 85416 32282 332 107735 74722 29809 3204 31738 4443 27295 102994 35770 67224 27353 2659 19621 5073 4283 2323 1960 37308 14693 22615 24067 2656 21411 REPAIRS AND MAINTENANCE 77858 77858 BOOKS SUBSCRIPTIONS AND 73425 73425 CHESS TOURNAMENT EXPENS 51729 51729 MISCELLANEOUS 41598 24303 17295 55207 46947 8260 2189775 1381791 753780 54204 2766309 1729944 129963 95850 15961 5627 99589 76828 9199917 5261818 2664958 3938099 12286950 13548745 17963730 19395093 461296 267406 114708 159424 103433 106593 679437 533423 X 13028534 15152469 4255759 3709201 17284293 18861670 17963730 19395093 866058 718588 -7269 0 X X 0 1 X 1 0 X 1136163 2026565 1165120 625926 2344008 7297782 1136163 2026565 1165120 625926 2344008 7297782 1182279 6115503 196832 26997 943530 899498 859094 2925951 23268 23268 31088 1969 23822 103415 10327148 781217 0.59220 0.62120 X PART II LINE 10 - OTHER INCOME OTHER INCOME IN 2022 TOTALED $23,822, BROKEN DOWN AS FOLLOWS: 1. NET GAIN FROM INSURANCE CLAIM $17,284 2. MISCELLANEOUS INCOME $ 6,538 PART II, SHORT YEAR EXPLANATION: THE ORGANIZATION'S CURRENT YEAR IS A SHORT YEAR COVERING THE PERIOD FROM 9/1/22-6/30/23. THE ORGANIZATION CHANGED ITS YEAR END FROM AUGUST 31ST TO JUNE 30TH AS ALLOWABLE UNDER REVENUE PROCEDURE 85-58 RULES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3264409 21000 259588 220629 3324368 3845063 45000 -392261 233393 3264409 3416437 629949 201323 3845063 3175565 10000 426616 195744 3416437 0.78322 0.21678 0 0 183000 183000 5499667 4229375 1270292 1070159 1032443 37716 2447091 2447091 3938099 MUTUAL FUNDS 13346515 F CERTIFICATES OF DEPOSITS 202230 F 13548745 PPP LOAN 10000 TENANT DEPOSITS 96593 106593 X 4628942 718588 160107 701683 1580378 3048564 7269 7269 3055833 3051565 160107 701683 861790 2189775 0 2189775 PART V, LINE 4: THE INSTITUTE'S ENDOWMENT CONSISTS OF SIX FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES AND INCLUDES DONOR-RESTRICTED FUNDS. NET ASSETS ASSOCIATED WITH THESE ENDOWMENTS ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE INSTITUTE ASSESSES ITS ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN ITS FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION AND DE-RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THERE WAS NO MATERIAL IMPACT TO THE INSTITUTES FINANCIAL STATEMENTS AS A RESULT OF THE ADOPTION OF THIS POLICY. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES INFORMATION REGARDING TAX STATUS CHANGE IN APRIL 2015, MECHANICS INSTITUTE INFORMED THE INTERNAL REVENUE SERVICE (IRS) OF ITS INTENT TO TERMINATE ITS STATUS AS A 501(C)3 PRIVATE OPERATING FOUNDATION UNDER 507(B)1(B) OF THE INTERNAL REVENUE CODE AND BECOME A PUBLIC CHARITY UNDER 509(A)(1) AND 170(B)(1)(A)(VI) OF THE IRS CODE. THIS WAS REQUESTED TO ALIGN THE DESIGNATION WITH THE MISSION AND WORK OF THE INSTITUTE. ON AUGUST 6, 2015, THE IRS PROVIDED AN ADVANCED RULING THAT THE INSTITUTE, BASED ON ITS ACTIVITIES AND SUPPORT, COULD REASONABLY BE EXPECTED TO TERMINATE ITS PRIVATE FOUNDATION STATUS AND BE TREATED AS A PUBLIC CHARITY DESCRIBED IN SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) OF THE CODE AT THE CONCLUSION OF AN ADVANCE RULING PERIOD OF 60 MONTHS BEGINNING SEPTEMBER 1, 2015. THE 60- MONTH PERIOD TERMINATED ON AUGUST 31, 2020, AND THE INSTITUTE SUBMITTED ALL REQUIRED DOCUMENTS TO SHOW IT MET THE REQUIREMENTS OF PARAGRAPH (1) OF SECTION 509(A) OF THE INTERNAL REVENUE CODE FOR THE REQUISITE 60-MONTH PERIOD WITHIN 90 DAYS AS SET FORTH IN TREASURY REGULATION 1.507- 2(B)(4) AND (C). THE IRS STATED THAT IF THE INSTITUTE ESTABLISHED THE FACT OF THESE REQUIREMENTS, IT WOULD BE CLASSIFIED FOR ALL PURPOSES BEGINNING WITH THE FIRST DAY OF THE FIRST TAXABLE YEAR OF THE 60-MONTH PERIOD AND THEREAFTER, SO LONG AS THE INSTITUTES CONTINUES TO MEET THE REQUIREMENTS OF SECTION 509(A)(1), (2), OR (3). ON APRIL 30, 2021, THE IRS CONFIRMED THAT THE INSTITUTE MET THESE REQUIREMENTS AND SUCCESSFULLY TERMINATED ITS STATUS AS A PRIVATE OPERATING FOUNDATION UNDER SECTION 507(B)1(B) OF THE INTERNAL REVENUE CODE AND WAS RECLASSIFIED AS A PUBLIC CHARITY UNDER SECTIONS 509(A)(1) AND 170(B)(1)(A)(VI) OF THE INTERNAL REVENUE CODE. THE INSTITUTE ASSESSES ITS ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN ITS FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION AND DE-RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THERE WAS NO MATERIAL IMPACT TO THE INSTITUTE'S FINANCIAL STATEMENTS AS A RESULT OF THE ADOPTION OF THIS POLICY. X 0 0 0 0 0 0 0 0 0 KIMBERLY SCRAFANO FORMER CHIEF EXECUTIVE OFFICER 200392 0 0 0 0 0 0 0 0 0 200392 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FULL MECHANICS' INSTITUTE BOARD OF TRUSTEES RECEIVES THE DRAFT 990, WITH ALL TRUSTEES GIVEN AT LEAST 10 DAYS TO REVIEW THE DRAFT AND FORWARD ANY QUESTIONS TO THE CEO, AUDIT COMMITTEE, AND/OR AUDITOR. FORM 990, PART VI, SECTION B, LINE 12C WE DO HAVE A WRITTEN BOARD CONFLICT OF INTEREST POLICY, AND ALL TRUSTEES ARE REQUIRED TO COMPLETE DISCLOSURES ANNUALLY. THIS IS A NEW POLICY THAT WAS ADOPTED IN JUNE 2021 AND FORMS ARE MAINTAINED BY THE INSTITUTE. THEY ARE DUE BEFORE THE NEW FISCAL YEAR BEGINS ON SEPTEMBER 1 OF EACH YEAR. FORM 990, PART VI, SECTION C, LINE 19 THE MECHANICS' INSTITUTE BYLAWS, BOARD CONFLICT OF INTEREST POLICY, AUDITED FINANCIAL STATEMENTS, AND 990 FORMS ARE AVAILABLE UPON REQUEST TO ANYONE. ADDITIONALLY, THE BYLAWS ARE IN PRINT IN OUR LIBRARY FOR MEMBER AND PUBLIC REVIEW. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS A COMMITTEE WHO ARE RESPONSIBLE FOR SELECTING AND OVERSEEING THE INDEPENDENT AUDITOR. THE COMMITTEE MEETS WITH THE AUDITOR TO REVIEW AND APPROVE THE AUDIT WHEN FINAL.