The Center of Science and Industy (COSI) has had massive financial losses, recent filings show - losses that came just before the local museum laid off 15% of its staff.
In 2024, expenses at COSI exceeded revenues by about $1.35 million. In 2025, the nonprofit educational science center's spending topped expenses by about $7.5 million, according to the IRS tax form 990.
When COSI was forced to lay off15% of its staff in January — 40% front-line workers from education teams— the nonprofit's chief operating officer told The Dispatch that it was dealing with operating deficits due to declining attendance and funding sources.
"Like many cultural institutions across the country, COSI is adjusting to changes in attendance and funding," Chad Thompson,
COSI COO, explained in an email to The Dispatch on Jan. 14. "After careful review, we made the difficult decision to reduce staffing to align resources with current needs and the projected environment."
But Thompson declined to say at the time how big COSI's losses were or explain why specific employees lost their jobs at the same time the center's leadership team was unaffected and many received raises.
Now, eight months later, COSI's most recent IRS tax filing answers some of those questions.
The starkest measure shows an operating loss through COSI's fiscal year ending in September 2025 that is almost six times worse than the prior year.
Neither Thompson nor COSI CEO Frederic Bertley returned multiple calls or emails from The Dispatch seeking comment on the latest filing. The Disptach begin reaching out to COSI for response on Oct. 13.
The IRS tax filings show that COSI's total revenue declined from $25.4 million to $23.2 million — a decline of more than $2 million from 2024 to 2025. At the same time, salaries, including employee benefits increased by about $1.1 million.
Bertley, the charismatic CEO who also earlier this year became CEO of the National Veterans Memorial and Museum located near COSI, received an $83,000 raise, bringing his salary to $567,000. Bertley has previously said that he receives no additional compensation for having the dual CEO status.
Elizabeth Pierce, CEO of the Cincinnati Museum Center, earned $415,000, according to the most recent IRS tax information. She oversees a complex of several musems.
Like other science centers, COSI facing financial headwinds
COSI is not alone in facing rising labor, building and materials costs, said Christofer Nelson, CEO of the Washington D.C.-based Association of Science and Technology Centers. "They are funded through major gifts and donations and you have to look at three, four, five years to get the whole story."
Nelson said attendance at his 500 or so member organizations nationwide has rebounded from the lows of the COVID pandemic. But costs are still outpacing revenues. He declined to discuss COSI specifically, other than to praise it as a "globally known ... beacon in the field."
All science museums are complex, from hiring, to operations to maintenance, experts say.
"It is a complicated facility to operate, both from a materials and staff level," Nelson said. "The sticker price doesn't tell the whole story."
COSI's admission is $30 for ages 2-12; $35 for those 13 and older. The museum has previously offered a two-for-one deal on memberships.
The Cincinnati Museum Center is a complex of several museums, including the Cincinnati Children's Museum inside the historic, former Union Terminal train terminal building. By comparison, its daily charges are $19.50 for ages 13 and older and $12.50 for ages 3-12, but it charges slightly more on weekends.
Growth and development reporter Dean Narciso can be reached at dnarciso@dispatch.com.
This article originally appeared on The Columbus Dispatch: COSI's operating deficit soared to $7.5 million in 2025, new filing reveals | Exclusive
