2025-07-29T09:30:27-05:00 2024-12-31 860750225 Keegan Linscott & Associates PC 3443 N Campbell Avenue Suite 115 Tucson AZ 85719 990 2024-01-01 860724677 Large Binocular Telescope Corporation LARG 5206265231 933 N Cherry Ave Rm 552 Tucson AZ 85721 Adriano Fontana President 5206265231 2025-07-21 1 1 Carla J Keegan P00596839 5208840176 2024 2025-03-06 01:10:19Z Adriano Fontana 933 N Cherry Ave Rm 552 Tucson AZ 85721 15240683 0 X lbto.org X 1992 AZ To construct and operate a research facility known as the Large Binocular Telescope. 11 10 0 13 0 0 24078690 15123001 0 0 41172 63939 566 53743 24120428 15240683 10000 10000 0 0 20000 27500 0 0 0 22541536 22053072 22571536 22090572 1548892 -6849889 101579590 94570234 7722924 7563457 93856666 87006777 The LBT Corporation's purpose is to maintain and operate a large optical observatory for astronomical research which will expand humanity's knowledge of space from the vicinity of Earth to the edge of the observable universe. 0 0 19896507 10000 0 A total of 280 nights were offered to the LBTO partners and science staff in 2024 for scientific observations, while 22 were devoted to engineering work. Poor weather conditions resulted in a loss of 37% of science observing time during 2024, which is somewhat better than the long-term average.A total of 48 scientific papers based on LBT data were published in 2024 in refereed journals. 19896507 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 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 0 1 3 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 0 1 0 1 0 X X Elizabeth Green 5206265231 933 N Cherry Ave Rm 552 Tucson AZ 85721 Adriano Fontana Chiarman & President 4.00 X X 27500 0 0 Chris Kochanek Vice Chairman 2.00 X X 0 0 0 Andreas Quirrenbach Director 2.00 X 0 0 0 Roberto Ragazzoni Director 2.00 X 0 0 0 Matthias Steinmetz Director 2.00 X 0 0 0 Evan Kirby Director 2.00 X 0 0 0 Dennis Zaritsky Director 2.00 X 0 0 0 Buell Jannuzi Director & Member Representative 2.00 X 0 0 0 Hans-Walter Rix Member Representative 2.00 X 0 0 0 Susan Olesik Member Representative 2.00 X 0 0 0 Fillippo Zerbi Member Representative 2.00 X 0 0 0 Mathias Voss Treasurer 2.00 X 0 0 0 Elizabeth Green Secretary 2.00 X 0 0 0 27500 0 0 0 0 0 0 ADS International Via Pio Galli Sindacalist 3 Lecco IT 23841 Design/Fabrication/Testing/Calibration 165489 1 7561501 7561500 15123001 63939 63939 Miscellaneous Income 900099 53743 53743 53743 15240683 0 0 117682 10000 10000 27500 27500 28860 28860 369855 317739 52116 47329 47329 41273 39521 1752 23229 23229 1156539 1156539 84736 84736 21654 1520 20134 8596364 8596364 3643 3643 Contract Personnel 7109041 7109041 UA Support Services 2012731 2012731 MGIO Contract Services 1635234 1635234 Other Operating Expense 766905 766905 155679 155679 22090572 19896507 2194065 0 3011888 4235240 1035000 1069650 73022 84604 186398418 97217678 97459680 89180740 101579590 94570234 311737 278910 7411187 7284547 7722924 7563457 X 93856666 87006777 93856666 87006777 101579590 94570234 -6849889 0 X 0 1 X 1 0 X 12292800 11908500 12373805 24078690 15123001 75776796 12292800 11908500 12373805 24078690 15123001 75776796 35138594 40638202 41 48 318 13149 63939 77495 2045 476 2153 566 53743 58983 75913274 0.53530 0.53230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 72531709 31612311 40919398 113866709 65605367 48261342 89180740 Asset Retirement Obligation 5000000 Due to Related Parties 2207816 Member Prepayment 76731 7284547 X 15240683 0 15240683 0 15240683 22090572 0 22090572 0 22090572 Part X, Line 2: The Corporation is exempt from income taxes under both Federal Internal Revenue Code ("IRC") Section 501(c)(3) and Arizona income tax laws, and is classified as other than a private foundation under IRC Section 509(a)(1). The Corporation also qualifies for the charitable contribution deduction under IRC Section 170(b)(1)(a). Management has considered its tax positions in accordance with the accounting standard for uncertainty in income taxes and believes that all of the positions taken in its federal and state exempt organization tax returns are more likely than not to be sustained upon examination. Management is not aware of any matters which would cause the Corporation to lose its tax-exempt status. The Corporation's returns are subject to examination by federal and state taxing authorities, generally for three years and four years, respectively, after they are filed. Should the Corporation ever be subject to interest and penalties related to unrecognized tax benefits, they would be classified in general and administrative expenses in the accompanying financial statements. During the years ended December 31, 2024 and 2023, the Corporation did not recognize any interest and penalties. 1 Eastern Arizona College Foundation Scholarship 2 10000 Part I, Line 2: The Large Binocular Telescope Observatory provides scholarship funding to the Eastern Arizona College Foundation to support enrolled members of the San Carlos or White Mountain Apache Tribes at Eastern Arizona College. The Eastern Arizona college admissions office selects eligible students for the scholarship to fund their tuition costs. The Large Binocular Telescope Observatory is notified when each new recipient is selected by the Eastern Arizona College Foundation. The University of Arizona Founding Member of the Organization (Operations Support Agreement) 9290545 Quarterly payments for salary, equipment and supply charges to UA accounts. 0 Form 990, Part VI, Section A, line 6 The Organization is supported by members which have agreed to continue to support the telescope program through member contributions proportionate to their membership levels. The members are allocated time for telescope use proportionate to their contributions made through both cash and non-cash payments. Form 990, Part VI, Section A, line 7a Members of the Organization appoint members to the Board of Directors. Form 990, Part VI, Section A, line 7b Amendments of the Articles of Incorporation require unanimous approval of members. Form 990, Part VI, Section A, line 8b Contemporaneous documentation is taken at Governing Body meetings. However, documentation is not taken at Committee meetings. Form 990, Part VI, Section B, line 11b The Business Manager will conduct an initial review of the Form 990. The Finance committee then reviews the Form 990 on behalf of the Board of Directors. Upon approval of the Finance Committee, the Board is notified that the Form 990 is available on-line and the President is authorized to sign the Form 990 for submission to the IRS. Form 990, Part VI, Section B, line 12c The Corporate Secretary distributes annual Conflict of Interest forms to all directors, officers, member representatives, voting members of the Board Finance Committee, members of the Board Scientific Advisory Committee, the Observatory director and business manager. By signing the forms and returning them to the Secretary, these people affirm that they have read and understand the Conflict of Interest policy of the LBT Corporation and have disclosed any possible conflicts. The Secretary reviews the forms for any disclosures and keeps them with the corporate records. Any disclosed conflicts are referred to the Board for their information. Any further action concerning disclosed conflicts or possible conflicts are handled according to the procedures contained in the LBT Corporation Conflict of Interest policy. Form 990, Part VI, Section B, line 15b Only one director receives a fee for service on the Board. That fee was set after review by the independent directors of the Corporation in consultation with the Corporation's audit and tax advisors. It was increased by the Board to $30,000 in April 2024. The first payment was $5,000 based on the previous compensation of $20,000, and the remaining three payments were $7,500 each, totaling $27,500 for 2024. The salary of the Observatory Director, and all other employees, is set by the University of Arizona pursuant to an operational support agreement with the LBT Corporation. Form 990, Part VI, Section C, line 19 The governing documents and financial statements are available upon request.