mid-year report 2016

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1983-2008 21st Street 1978-1983 Cherry Street 1976-1978 Academy of Natural Sciences 2008-Present Memorial Hall PLEASE TOUCH MUSEUM Mid-Year Report 2016

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Enjoy this mid-year report with highlights from Please Touch Museum.

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1983-200821st Street

1978-1983Cherry Street

1976-1978Academy of

Natural Sciences

2008-PresentMemorial Hall

PLEASE TOUCH MUSEUMMid-Year Report 2016

In 1976, Portia Sperr was inspired. A Montessori educator, she understood the learning

inherent in play, and recognized the need for a space dedicated to it. Faced with a dearth of places to bring a class of five-year-olds for play-based hands-on learning, she decided to create one.

Thus, Please Touch Museum was born.

Forty years later, that legacy of creating meaningful learning experiences through play burns bright in the inquisitive minds of the children we welcome to Memorial Hall each and every day. Ours is a story of enduring transformation, a journey from there to here. From a 2200 square

foot installation on the top floor of the Academy of Natural Sciences, to 65,000 square feet of exhibition and programming space in an awe-inspiring historic

building. From a space staffed generously by volunteers that could only accommodate 25 children at one time, to an iconic building that welcomes hundreds of thousands of children each year. From one woman’s vision, to a regional and national treasure that has been the backdrop for generations of memories.

The passion driving us forward is the constant that connects us to our beginnings: unwavering dedication and commitment to

our mission. Its pursuit has seen many milestones along the way, including the expansion of our collections,

the reinvention and innovation of our exhibits and programming, and of course the expansion of the

Museum itself. Arguably the boldest step on our path, the move to Memorial Hall in 2008 literally and symbolically positioned us for a promising foundation for the future.

The financial challenge that ensued proved a test of the strength and will of the organization. In 2015, Please Touch Museum encountered both its largest struggle and perhaps greatest triumph to date, as the consistent and universal recognition of this great institution’s merit helped us emerge stronger than ever. That journey inspired a broad and inclusive re-examination of our mission and critical role in early childhood learning, which we take on now with excitement and vigor.

We now have a unique opportunity to build on our legacy, and see it through into the future with a renewed appreciation for our own vitality. This work has already begun. We have rebuilt our executive staff with some of the finest minds in our field, and have raised over $8.3 million in less than six months for the Foundation for the Future campaign.

Those contributions have enabled us to reinvigorate the Museum for twenty-first century children and families, and include a $750,000 Advancement Grant from The Pew Center for Arts & Heritage to help us develop new blended digital and hands-on exhibitions and programs. Finally, we have begun a comprehensive strategic planning process as well as a rebranding initiative that will establish a strong identity and guiding course moving forward. These efforts, coupled with the energy and enthusiasm that our talented staff brings to their work each and every day, herald more great things to come. With pride in our rich history and awe at what we’ve achieved so far, we look eagerly towards the future.

Patricia D. Wellenbach Sally StetsonPresident & CEO Chair, Board of Trustees

2

FEATURE EXHIBITS

HIGHLIGHTS OF 2015 From Furry Friends to 500,000

A wonderful way to bring new stories and experiences to Please Touch

Museum on a regular basis, feature exhibits primarily showcase themes drawn from popular culture. In 2015, the plans were laid to reinstate our feature exhibit program, presenting limited-run exhibitions that offer children and their grown-ups the chance to play and learn alongside some familiar faces. The program boasts an impressive schedule planned through 2020.The inaugural exhibition, Adventures with Clifford The Big Red Dog, opened to great acclaim on October 17, 2015 and provided a wonderful opportunity for learning during its run here through January. Curious George: Let’s Get Curious! has an extended run February through Labor Day, and The Adventures

of Mr. Potato Head will open in early October 2016. In the fall of 2017, we’ll welcome Daniel Tiger’s Neighborhood. Uniquely memorable

experiences for visitors as well as excellent vehicles for publicity and recurring visitation, feature exhibits will undoubtedly remain notable highlights for many years to come.

FY 2015 saw Please Touch Museum continue on our forward-facing path, with steadfast focus and commitment to our mission.

FEATURE EXHIBITS

In September of 2015, former Please Touch Museum CEO Lynn McMaster served as the keynote speaker in Seoul at the International Symposium of the Children’s Museum, National Museum of South Korea (NMSK). Themed Museums Where Children Have Fun: Results and Challenges of Education at Children’s Museums, it was held as part of celebrations to highlight the 10th anniversary of the NMSK reconstruction and opening of their children’s museum. The conference dealt in depth with the achievements of and future challenges for education at children’s museums in South Korea and internationally. McMaster’s keynote address was titled Make Believe, Make Memories: A Commitment to Our Youngest Learners.

The Elaine Wideman-Vaughn Program Room was the home of Living Laboratory, one of 2015’s numerous programmatic highlights. Children met real scientists and discovered howpeople develop and process information through play-based activities that made any budding scientist feel welcome. For example, one of our team-led exercises showed the children a series of images, then let them demonstrate their familiarity of the odors for the objects they observed by identifying smells presented via a “smelly pen”. This program also included a partnership with Monell Chemical Senses Center, conducting scientific studies on the Museum gallery floor.

4

FY 2015 enjoyed commendable overall visitation. We welcomed over 500,000 visitors throughout the year, engaging the public both inside and beyond our doors in innovative programming. It is a testament to the talent and professionalism of our staff that in the midst of sweeping changes behind the scenes, the quality of our visitors’ experience maintained its consistently high standard.

The triumphs of 2015 have seen us through to our 40th year, and we have a lot to celebrate. Please Touch Museum’s incredible legacy lives in the hearts and minds of our visitors, and is best represented by their moving and inspiring stories. We are planning a broad series of programs and events in commemoration of our birthday, sharing those stories and helping create new ones.

Although we have incorporated this important milestone into the visitor experience for the entire year, the month of October will be the epicenter of our birthday celebrations. On Sunday, October 2 we will host a community day, and each subsequent weekend throughout the month will celebrate a different decade. The new feature exhibit The Adventures of Mr. Potato Head will open on Saturday, October 8, and we will cap it all off with our 40th Anniversary Celebration on Thursday, November 3.

A fitting tribute, this special evening will honor the PNC Grow Up Great program with our Corporate Philanthropy Award, and present the Portia and Otto Sperr Legacy Award to Gie and Lisa Liem.

CELEBRATING 40 YEARS of Learning through Play

6

INTRODUCTION TO FINANCIAL POSITION From Dollars to Cents

The successful emergence from Chapter 11 on March 31, 2016, along with the elimination of debt, will reduce the administrative expenses of the Museum by approximately $4.4 million annually and will allow the Museum to focus 100% of our efforts on our core mission. The Museum also recognized that in order to sustain long-term viability, additional cost reductions would be required. As such, it initiated major decreases in overhead costs across the institution throughout FY 14 and 15.

Significant management time and attention was devoted to the administrative tasks involved in Chapter 11 activities, with time spent by all levels of management. Our emergence from Chapter 11 allows management to direct their efforts once again toward Museum experience, performance, and growth. An analysis of the FY 15 functional expense allocation shows over $900,000 in management salaries and benefits were allocated to management in support of the Chapter 11 efforts.

8

Going forward, this time and money can and will be allocated to program expenses. The entire management team is focused on expanding its resources while minimizing overhead.

Please Touch Museum has continued to provide unmatched play and learning opportunities for the region’s children and be an economic engine for Philadelphia. With our current momentum and the generous investment of its supporters, Please Touch Museum is uniquely positioned to be an innovative center for early childhood learning in the twenty-first century.

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT)

Current liabilities: Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 -

63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit): Unrestricted (21,495,285) 9,184,389Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

Statement of Financial Position October 1, 2014 to September 30, 2015

$ 2,682,5202,217,9361,168,500

367,0956,436,051

Cash and cash equivalents Marketable securities Grants and contributions receivable Other current assets Total current assets

2015 2014Current Assets $ 1,604,537

8,567,023233,200381,917

10,786,677Grants and contributions receivable after one year Property, equipment, and exhibits, net Cash held in escrowDeferred financing costsTOTAL ASSETS

99,65930,000,000

7,594,599583,780

$44,714,089

66,74854,790,640

5,384,830632,868

$71,661,763Current LiabilitiesCurrent portion of bonds payable Accounts payable and accrued expenses Accrued interest Current portion of capital lease obligationTotal current liabilitiesLong-term portion of capital lease obligation Liabilities subject to compromise:Bonds payable Accrued interest Capital lease obligationAccounts payable and accrued expenses

TOTAL LIABILITIES Net assets (deficit): Unrestricted Temporarily restricted Permanently restricted

$59,721,964753,034248,972

15,210$60,739,180

48,163

–––––

60,787,343

9,184,389257,947

1,432,08410,874,420

$71,661,763

$ –905,884

––

$905,884–

59,635,9703,265,690

48,164 773,582

63,723,406 64,629,290

(21,495,285)148,000

1,432,084 (19,915,201)$44,714,089

TOTAL NET ASSETSTOTAL LIABILITIES & NET ASSETS

Total liabilities subject to compromise

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

Statement of Financial Position October 1, 2015 to March 31, 2016

Cash and cash equivalents

Marketable securities

Grants and contributions receivable

Other current assets

Total current assets

Grants and contributions receivable after one year

Property, equipment and exhibits, net of accumulated depreciation

Cash held in escrow

Deferred financing costs

TOTAL ASSETS

Current Assets

$ 2,682,520

2,217,937

808,363

318,218

6,027,038

508,673

30,000,000

7,594,599

583,780

$44,714,089

Sep ’15Mar ’16 Change from Sep ’15

$ 1,741,803

2,083,923

326,912

508,190

4,660,828

1,100,195

29,906,924

1,828,176

$37,496,124

$ (940,717)

(134,013)

(481,451)

189,972

(1,366,209)

591,522

(93,076)

(5,766,422)

(583,780)

$(7,217,966)

Current Liabilities:

Current portion of long-term debt

Accounts payable and accrued expenses

Accrued interest

Total current liabilities

Long-Term Debt

TOTAL LIABILITIES

NET ASSETS

TOTAL LIABILITIES & NET ASSETS

$ 59,635,970

1,727,631

3,265,690

64,629,290

$64,629,290

$(19,915,201)

$44,714,089

$ –

1,166,580 –

1,166,580_

$1,166,580

$36,329,544

$37,496,124

$ (59,635,970)

(561,051)

(3,265,690) (63,462,710)

$(63,462,710)

$56,244,745

$(7,217,965)

Liabilities & Net Assets

10

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

List of DonorsGENERAL OPERATING SUPPORT – INDIVIDUAL$25,000 and aboveThe CHG Charitable TrustLisa & Gie Liem

$24,99–$10,000Elizabeth Cartmell & Paul ZoubekJoe & Jolly Waterman

$9,999–$5,000Joseph Fanelli Jr.Dr. Barbara Klock & Mr. Salem ShuchmanElizabeth R. MoranSally & Lee StetsonThe Tewksbury FamilyKristen & Patrick Traynor

T.J. & Catherine ConahanJeffrey A. EngblomMr. & Dr. Carl H. FridyCharles & Anne GingrichGrace GonglewskiJeffrey & Tracy HitchnerNancy D. & W. Roy KolbDonald & Vicki KramerGabriella Marein-Efron & Evan FieldstonKate O’NeilLaura PalmerMindy RosemanThe Ross Family Foundation: Daniel & Faye RossDan RottenbergSusan & John SalvesonMark SchreinerJudy & Daniel SherryFrederick T. Stingle, IV

$4,999–$1,000Sharon & Kevin CoghlanKathryn & Vincent J. GalarneauRuth A. Hirshey LincolnBen & Meghan JohnsonLee A. Rosengard & Andrea R. KramerRhea & Bennett Thomas

$999–$500Craig Russell BlackmanRichard BowenMatthew W. FosterSidney & Joyce GamburgMr. & Mrs. Benjamin R. NeilsonCynthia Schiff & Floyd GlennThe Tyler Family

$499–$100Tara AndorferLin & Jim BuckElizabeth Carmalt

October 1, 2014 to September 30, 2015

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

12

Scott K. SukoTom WatsonJolene Weaver

Under $100AnonymousKate AlbertEva & Miguel AliceaHristo ApostolovThomas ArdKaren ArmmourJames AtwellRichard BalkoJames BallSasha BallenRobert BarbieriPilar BartlettCynthia BashoreArlene BennettAbigail Berry

Rachel G. BesnoffMichelle BiloonTodd BingemannToni Lee BlateDonna BonyunRichard BoucherAmanda Branson GillJessica BreckerSharon BreskeAlyssa BridgesTanya BrownDavid BrundageSusan BrysonDavid BuckleyLauren ByrnesFlavio CabreraMaria CamachoBarbara CannEllen CathopoulisLisa ChackoChung Chang

Toya ChapmanJoshua CheseikaAmy ChoulesAndrea CintronLorna ClauseBecky CollinsMichael ConwayLisa ConwaySalvator CroceCory CuiFrank DeCiccoMarianne DeJesusJill DelfinAnne DemkinAmy DidonaGail DittesCarolyn DixonEileen DollyDavid DoughertyJennifer DowneyBonnie DrobnesEileen Durso

Branwan EllisShawn EricksonNicole ErleKyle EverlyMichelle FalanceErika FellmanRobin FiorentinoRachel FishmanShannah FitzgeraldDiane FogdallBernadette FoleyLori FranzkeKathryn Freit

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

Martin FreyJulayne & Richard FrostJoseph GallagherAlyson GallionAntranig GaribianAlison GeigertScott GoodlingBenjamin GordonSherray GouldCordula GreweDuPont GuerryJessica HalbertStephanie HampsonMelodie L. HardyKelly Hasbrouck NicastroAmy HasselmanTashima HawkinsElizabeth HemphillJacqueline Hershberger

Mark HopkinsAllyssa HornbakerAnne HouserMelissa HoyCharles HudackKris HunnicuttBradley ImmelMarcus JonesTedford JuachonDana KaneJudith KaplanKenneth KeimSarah KernJulia KirbyLisa KittrellJulie LaineBarbara LandisChris LejeuneKevin LenzKathleen LeskoBernadette Leyden

Jennifer LongEliud LopezAnna G. LoveraAaron MadhavanHoward & Cirel MagenJennifer Maida-ChateauKathryn ManariFrank MartinTheodora MatisoffDenise & Dominic MazzaMarion McCabeMarylyle McCueJacqueline McDonnellChristopher McFaddenBethany McGeeElizabeth MentzingerJoseph MicucciAlena MohrKathryn MorelockAlex MourRobert Mueller

Jamie MurraySally MyersWendy NealeDeborah NeillLinda NewstedEric NorquistFrederick OelrichNicole OnestiLuisa OssaAlexis PappasAngeline PavlikRashanda PerrymanAlexis PeskinThomas PhamKatherine PhillipsAmanda PilsburyRonald PinskerKathleen PorterNaveen Potthuru

List of Donors (cont.)

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

Joseph PruntyThomas PuderDiane PurrJoseph QuillinanJonna RaezerKevin Rafferty & Audrey WoodJeri RamagnanoGilad RaphaelliRoberta RevnessAdam RickertPhil RobinsonMichael Rodack FamilyJoanne RodlandEliezer RolonJacqueline RomaskyHoward RubinsteinDavid & Darcy SackerFaith SalibaAmitha Sampath

Karen W. SandersAlan SandsJoan SantiagoJoseph & Melissa SantomauroDenise SaporitoBrandy ScottJan ScottMegan SheaAlok SindherDavid SkicaCarol SmithFrances SmithEsther SobelSara SobelCarol SpachtDanielle StaleyStephen StarrLillian StymiestVenkatesh SubburayaiuKarina Sweeney

Nadine TalleySara TanzioAnubha ThakurJoji ThompsonPamela TiceMichael ToddJason TorbanNicole TrunkJoAnn TuckerJennifer TustinWilliam TymickDylan UprichardRachel Utain-EvansVikram VamshiJoel VazquezMary VerdereseJason ViolettiHelen WagnerJessica WaltmanBreanne WardKiwamu WatanabeJoseph Wellspeak

Jesenia WilliamsJoyce WilliamsChristopher WilliamsonIrene WilsonJacqueline WilsonStephen WilsonJoseph WinzingerNicole WitherspoonZhicheng YanEllen YangDanielle ZonisMichael Zuckerman

14

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

List of Donors (cont.)CORPORATIONS, FOUNDATION AND GOVERNMENT$25,000 and aboveThe Albert M. Greenfield FoundationThe Arcadia FoundationThe Boeing CompanyCoca-Cola RefreshmentsHarmelin Media

$24,999–$10,000Aqua America, Inc.Berwind GroupBloomberg Global Philanthropy & EngagementLincoln Financial GroupPA Leadership Charter SchoolPfizer, Inc.The Philadelphia FoundationStradley Ronon Stevens & Young, LLPUnitedHealthcare of Pennsylvania

$9,999–$5,000ACE INABank of AmericaThomas Skelton Harrison FoundationIsdaner & Company, LLCKPMG LLPMacy’s Inc.MKM FoundationPatriarch Family FoundationPricewaterhouseCoopersProcacci Brothers Sales CorporationThe Elizabeth B. and Arthur E. Roswell Foundation, Inc.Woodloch PinesYour Cause, LLC

$4,999–$1,000Bank of America Charitable Gift FundBoscia Family FoundationLouis N. Cassett Foundation

CoventryDolfinger-McMahon FoundationDream Makerz FoundationThe GE FoundationThe C. Eugene Ireland FoundationJewish Family and Children’s ServiceJohnson & Johnson Family of Consumer Companies Contributions FundPNC Bank, N.A.The George W. Rentschler FoundationGilroy and Lillian Roberts Charitable FoundationShoe Carnival, Inc.SketchersThe Tally FoundationUnited Way of Greater Philadelphia and Southern New JerseyUniversal Health Recovery Centers, Inc.Vanguard Charitable Endowment FundYoung Presidents Organization

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

16

$999–$500Julius & Ray Charlestein FoundationDTCC Giving ProgramSamuel P. Mandell FoundationNature’s Bakery

Under $500Comcast CorporationTruist Inc.The Vanguard Group STORYBOOK BALL 2015Event Committee ChairsAshley GovbergKate Shields

Cinderella SponsorJon & Joanne Harmelin

Fairy Godmother SponsorHallee & David Adelman

VIP Hour SponsorAshley & Daniel Govberg

Robin Hood SponsorSalveson Stetson Group, Inc.Stradley Ronon Stevens & Young, LLP

Alice in Wonderland SponsorAllBrand SupplyHersha Hospitality TrustRuth A. Hirshey LincolnPNC Bank, N.A.Suzanne & Scott RehlTompkins Insurance Agencies, Inc.Vault Communications, Inc.Wawa Inc.The Honorable Constance H. Williams

Madeline SponsorBank of AmericaCozen O’ConnorChristine DiegidioEisnerAmper LLPGulian & AssociatesJane HobanBen & Meghan Johnson

Keith & Alixandra MorganPhiladelphia EaglesReed Smith LLP

Peter Pan SponsorThe Bank of America Charitable Foundation, Inc.Elizabeth Cartmell & Paul ZoubekSharon & Kevin CoghlanShakti HarrisStephanie LernerLynn McMasterPlymouth Nursery & LandscapeAleni PappasPricewaterhouseCoopersWill Wermuth

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

List of Donors (cont.)

Please Touch Museum makes every effort to accurately maintain its donor and volunteer listings. If you find an error or omission, please contact the

Development Department at 215-581-3195.

Storybook Ball DonationsClub TabbyDolores DennisonMary D. HangleyS. S. Gill CompanyThe Schoch FoundationBertram & Lynne Strieb

Storybook Ball Gifts in Kind20/20 Visual MediaBrulee CateringClub TabbyKWC StrategiesNetplus MarketingOn Q ProductionsPhiladelphia Park and RecreationProcacci Brothers Sales CorporationTicket LeapWHYY, Inc.WPVI - TV/6abc

CENTENNIAL GUILD1876 SocietyRobert & Deborah Cohen

ManufacturerSusan & Cummins CatherwoodElizabeth GemmillNancy D. & W. Roy KolbJody & David NazarianDebra Weiss

CollectorJessica BrooksteinBrian & Aly CunninghamAshley & Daniel GovbergKerry & Kevin Halpern-SkoglundKim HarrisonJane HobanJeannine PayneAlison SiskinJoe & Jolly Waterman

FairgoerMeredith AukerScott BachrachSandeep BainsLynda BarnessMarian BracciaDouglas E. BrintnallHana & Lucas BurkePriya & Darren CheckTracy ChillemiSuzanna CooperJennifer DiaboEvgeny DyachenkoBrian EffronLisa ElizondoDeborah Gaskins-SimmsJennifer GrayPatrick J. GuisePortia Hamilton-SperrJon & Joanne HarmelinMegan HeaterJames H. Hill

Pamela Jordan-FarrRena & Josh KopelmanEliud LopezJames MacFawnMeghan & Josh MaeulenAnthony McCarleySusa McFallMichael & Gwenn NolanBrian PotterClare PozosWilliam QuinnKiele Rigaud-HayesLee A. Rosengard & Andrea R. KramerAngela SabolRungnapa Tedwirat & Tanya GordonBennett & Rhea ThomasJolene WeaverRafael Zahralddin

The accompanying notes are an integral part of these statements. 3

PLEASE TOUCH MUSEUM (DEBTOR-IN-POSSESSION)

STATEMENTS OF FINANCIAL POSITION SEPTEMBER 30, 2015 AND 2014

ASSETS

2015 2014

Current assets: Cash and cash equivalents $ 2,682,520 $ 1,604,537 Marketable securities 2,217,936 8,567,023 Grants and contributions receivable 1,168,500 233,200 Other current assets 367,095 381,917

Total current assets 6,436,051 10,786,677

Grants and contributions receivable after one year 99,659 66,748 Property, equipment, and exhibits, net 30,000,000 54,790,640 Cash held in escrow 7,594,599 5,384,830 Deferred financing costs 583,780 632,868

$44,714,089 $71,661,763

LIABILITIES AND NET ASSETS (DEFICIT) Current liabilities:

Current portion of bonds payable $ - $59,721,964 Accounts payable and accrued expenses 905,884 753,034

Accrued interest - 248,972 Current portion of capital lease obligation - 15,210

Total current liabilities 905,884 60,739,180

Long-term portion of capital lease obligation - 48,163

Liabilities subject to compromise: Bonds payable 59,635,970 - Accrued interest 3,265,690 - Capital lease obligation 48,164 - Accounts payable and accrued expenses 773,582 - 63,723,406 -

Total liabilities 64,629,290 60,787,343

Net assets (deficit):

Unrestricted (21,495,285) 9,184,389 Temporarily restricted 148,000 257,947 Permanently restricted 1,432,084 1,432,084

(19,915,201) 10,874,420

$44,714,089 $71,661,763

Current assets:Cash and cash equivalents $ 2,682,520 $ 1,604,537Marketable securities 2,217,936 8,567,023Grants and contributions receivable 1,168,500 233,200Other current assets 367,095 381,917Total current assets 6,436,051 10,786,677Grants and contributions receivable after one year 99,659 66,748Property, equipment, and exhibits, net 30,000,000 54,790,640Cash held in escrow 7,594,599 5,384,830Deferred financing costs 583,780 632,868$44,714,089 $71,661,763

Please Touch Museum is in the strong position we are today thanks to the energy and dedication of many. We thank you all for your continued support from our hearts to yours.

Thank you for your support!

18

1983-200821st Street

1978-1983Cherry Street

1976-1978Academy of

Natural Sciences

2008-PresentMemorial Hall

PLEASE TOUCH MUSEUMMid-Year Report 2016

4231 Avenue of the RepublicPhiladelphia, PA 19131PleaseTouchMuseum.org215-581-3181