Exploration Place Inc

Nonprofit profile at a glance

EIN
481000295
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Wichita, KS, USA
Phone
3166600600
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Museum, Museum Activities

Reported finances

Revenue
$14,988,402
Expenses
$7,903,175
Assets
$61,023,186
Liabilities
$2,736,697

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

32 people listed

Executive titles in this filing

  • ADAM SMITH (PRESIDENT)
  • KENT SHANK (EXECUTIVE VICE PRESIDENT)

Highest reported compensation

  • ADAM SMITH (PRESIDENT): $216,984 total reported compensation
  • KENT SHANK (EXECUTIVE VICE PRESIDENT): $139,510 total reported compensation
  • LAURA RODDY (VP FOR ADVANCEMENT): $108,899 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To inspire a deeper interest in science and technology through creative and fun experiences for all.

What it reported doing in 2024

Providing "hands-on" learning environment for people of all ages. The museum is open 7 days per week. Total facility attendance was approximately 370,288.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - Most voting board members are independent and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 45
  • Transparency & Controls: 62
  • Accountability: 100
  • Sustainability: 85
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 38.1%; rating input score 38
  • Program expense ratio: 55.6%; rating input score 56
  • Fundraising efficiency: $14.59 raised per $1 spent on fundraising; rating input score 49; 49th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 47.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 7.72; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 44; 44th percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 10.6% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 38.1% of revenue deployed · 55.6% of spending went to programs
  • Governance: 29 of 29 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.4M in reported program spending
  • Leadership: top reported pay $217K · 32 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.2M reported
  • Consistency: 31 of 32 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 38/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 56/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 49/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Officer compensation ratio scored 44/100.