2023-04-01T12:11:49-05:00 2022-05-31 450250958 EIDE BAILLY LLP 2950 E HARMONY RD STE 290 FORT COLLINS CO 805283429 990 2021-06-01 742215035 VAIL VALLEY FOUNDATION VAIL 9707772015 PO BOX 6550 AVON CO 81620 MICHAEL IMHOF PRESIDENT & CFO 9709491999 2023-03-24 1 MICHAEL IMHOF 999009999 KYLE FRITCH CPA P01313374 9702238825 2023-03-24 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MICHAEL IMHOF PO BOX 6550 AVON CO 81620 19675880 0 X WWW.VVF.ORG X 1983 CO TO ENHANCE THE QUALITY OF LIFE IN THE VAIL VALLEY AND SHOWCASE OUR COMMUNITY TO A GLOBAL AUDIENCE THROUGH ARTS, ATHLETICS AND EDUCATION. 46 44 203 962 -29 0 8856511 10356236 1484662 7306507 289417 205829 -25066 920719 10605524 18789291 2196403 2594609 0 0 3545882 5039654 0 0 1647137 4505728 9525372 10248013 17159635 357511 1629656 34085817 22993237 12559642 7678529 21526175 15314708 X VAIL VALLEY FOUNDATION WAS CREATED TO ENHANCE THE QUALITY OF LIFE IN THE VAIL VALLEY AND SHOWCASE OUR COMMUNITY TO A GLOBAL AUDIENCE THROUGH ARTS, ATHLETICS, AND EDUCATION. 0 1 2856304 1193868 VAIL VALLEY FOUNDATION HOLDS THE VAIL DANCE FESTIVAL EVERY YEAR. THE FESTIVAL INCLUDES SEVERAL PERFORMANCES BY INTERNATIONAL COUPLES AND ENSEMBLES FROM MAJOR INTERNATIONAL COMPANIES HELD AT THE GERALD R. FORD AMPHITHEATER. THE PERFORMANCES VARY FROM YEAR TO YEAR, BUT FREQUENTLY INCLUDE GUEST ARTISTS FROM THE AMERICAN BALLET THEATRE AND OTHER WORLD-CLASS COMPANIES. THE FESTIVAL PROVIDES EDUCATION AND ENHANCES THE APPRECIATION AND AVAILABILITY OF DANCE IN THE VAIL COMMUNITY. 2753258 2497686 VAIL VALLEY FOUNDATION HOSTS THE BIRDS OF PREY WORLD CUP INTERNATIONAL ALPINE SKI RACE ANNUALLY. THE RACE CONSISTS OF A WORLD CUP MEN'S SUPER-COMBINED, WORLD CUP MEN'S DOWNHILL, AND A WORLD CUP MEN'S SLALOM COMPETITION. THIS ATHLETIC EVENT ATTRACTS PEOPLE FROM AROUND THE WORLD HELPING TO PROMOTE THE TOWN OF VAIL AND THE QUALITY OF LIFE IN THE VAIL VALLEY AREA. 2084538 1899958 VAIL VALLEY FOUNDATION HOLDS THE GOPRO MOUNTAIN GAMES ANNUALLY. THE EVENT IS THE COUNTRY'S LARGEST CELEBRATION OF MOUNTAIN SPORT, SOUL, AND CULTURE AND OCCURS ANNUALLY DURING THE SECOND WEEKEND OF JUNE. PROFESSIONAL AND AMATEUR OUTDOOR ADVENTURE ATHLETES FROM AROUND THE WORLD CONVERGE UPON THE MOUNTAINS AND RIVERS OF VAIL TO COMPETE IN EIGHT SPORTS AND TWENTY-ONE DISCIPLINES. IN ADDITION TO THE ATHLETIC EVENTS, THE MOUNTAIN GAMES INCLUDE A MOUNTAIN PHOTOGRAPHY COMPETITION, INTERACTIVE EXHIBITION AND DEMO AREA, LIVE MUSIC, AND MOUNTAIN LIFESTYLE PARTIES. 4966746 2594609 1714995 VAIL VALLEY FOUNDATION HOSTS AND SPONSORS A VARIETY OF OTHER EVENTS IN THE VAIL VALLEY AREA INCLUDING HOT SUMMER NIGHTS, SHOW DOWN TOWN, AND WHISTLE PIG VAIL. THE EVENTS HELP TO SUPPORT A VARIETY OF EDUCATIONAL PROGRAMS, OTHER NONPROFIT ORGANIZATIONS, STRENGTHENING FAMILIES WITHIN THE COMMUNITY, AND KEEPING THE COMMUNITY VITAL AND EXCITING. 4966746 2594609 1714995 12660846 1 1 0 0 0 1 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 233 0 1 203 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 X 46 44 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CO X HEIDI ELZINGA 9707772015 90 BENCHMARK ROAD STE 300 AVON CO 81620 MICHAEL IMHOF PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 15.00 X X 358510 0 30090 ANN SMEAD CHAIRMAN 0.50 1.00 X X 0 0 0 ANDY ARNOLD BOARD MEMBER 0.50 1.00 X 0 0 0 JOHN ARNOLD BOARD MEMBER 0.50 1.00 X 0 0 0 CARRIE BESNETTE HAUSER BOARD MEMBER 0.50 1.00 X 0 0 0 SAM BRONFMAN BOARD MEMBER 0.50 1.00 X 0 0 0 SUSAN CAMPBELL BOARD MEMBER 0.50 1.00 X 0 0 0 CHARLENE CHEN BOARD MEMBER 0.50 1.00 X 0 0 0 WILL COOK BOARD MEMBER 0.50 1.00 X 0 0 0 STEVE COYER BOARD MEMBER 0.50 1.00 X 0 0 0 JOHANNES FAESSLER BOARD MEMBER 0.50 1.00 X 0 0 0 TIM FINCHEM BOARD MEMBER 0.50 1.00 X 0 0 0 MARGIE GART BOARD MEMBER 0.50 1.00 X 0 0 0 SHEIKA GRAMSHAMMER BOARD MEMBER 0.50 1.00 X 0 0 0 BETH HOWARD BOARD MEMBER 0.50 1.00 X 0 0 0 AL HUBBARD BOARD MEMBER 0.50 1.00 X 0 0 0 BJ HYBL BOARD MEMBER 0.50 1.00 X 0 0 0 CHRISTOPHER JARNOT BOARD MEMBER 0.50 1.00 X 0 0 0 CHERYL JENSEN BOARD MEMBER 0.50 1.00 X 0 0 0 ALEXIA JURSCHAK BOARD MEMBER 0.50 1.00 X 0 0 0 ANNE-MARIE KEANE BOARD MEMBER 0.50 1.00 X 0 0 0 MIKE KRUPKA BOARD MEMBER 0.50 1.00 X 0 0 0 SARAH MILLETT BOARD MEMBER 0.50 1.00 X 0 0 0 ELLEN MORITZ BOARD MEMBER 0.50 1.00 X 0 0 0 KAIA MORITZ BOARD MEMBER 0.50 1.00 X 0 0 0 DAN PENNINGTON BOARD MEMBER 0.50 1.00 X 0 0 0 JILL PLANCHER BOARD MEMBER 0.50 1.00 X 0 0 0 DAVID SALVIN BOARD MEMBER 0.50 1.00 X 0 0 0 KEN SCHANZER BOARD MEMBER 0.50 1.00 X 0 0 0 MIKE SHANNON BOARD MEMBER 0.50 1.00 X 0 0 0 ROD SLIFER BOARD MEMBER 0.50 1.00 X 0 0 0 HAP STEIN BOARD MEMBER 0.50 1.00 X 0 0 0 KRISTIN TANG BOARD MEMBER 0.50 1.00 X 0 0 0 FRED TRESCA BOARD MEMBER 0.50 1.00 X 0 0 0 GARY WOODWORTH BOARD MEMBER 0.50 1.00 X 0 0 0 KRISTY WOOLFOLK BOARD MEMBER 0.50 1.00 X 0 0 0 LINN BROOKS BOARD MEMBER 0.50 1.00 X 0 0 0 CARLOS GARDEA BOARD MEMBER 0.50 1.00 X 0 0 0 PAUL GORDON BOARD MEMBER 0.50 1.00 X 0 0 0 NADIA GUERRIERO BOARD MEMBER 0.50 1.00 X 0 0 0 DAVID HYDE BOARD MEMBER 0.50 1.00 X 0 0 0 ALEJANDRA CORTES DE MILMO BOARD MEMBER 0.50 1.00 X 0 0 0 CHRIS ROMER BOARD MEMBER 0.50 1.00 X 0 0 0 SUSANNA JOHNSON SHANNON BOARD MEMBER 0.50 1.00 X 0 0 0 MELINA VALSECIA BOARD MEMBER 0.50 1.00 X 0 0 0 TINA VARDAMAN BOARD MEMBER 0.50 1.00 X 0 0 0 ROBERT J FORD CHIEF FINANCIAL OFFICER 40.00 15.00 X 240954 0 27465 SARAH JOHNSON SVP PHILANTHROPY 40.00 X 258357 0 10397 SARAH FRANKE VP MARKETING & OPERATIONS 40.00 X 218018 0 16027 DAVE DRESSMAN VP SALES & GRFA 40.00 X 188961 0 35635 TRICIA BANCKER CONTROLLER 40.00 X 121375 0 15461 JESSICA STEVENS SENIOR DIRECTOR OF SALES 40.00 X 141664 0 23895 GREG BLOOM SENIOR DIRECTOR OF SALES 40.00 X 131419 0 14771 BRIAN MULLER IT DIRECTOR 40.00 X 159757 0 15764 TOM BOYD PR DIRECTOR 40.00 X 133126 0 14544 1952141 0 204049 14 0 1 0 Q-BIRD PRODUCTIONS INC 338 W 72ND ST 2 NYC NY 10023 ARTISTIC DIRECTOR OF DANCE FESTIVAL 327263 1 1180453 2957881 6217902 1387673 10356236 BIRDS OF PREY 711310 2497686 2497686 GOPRO MOUNTAIN GAMES 711310 1899958 1899958 VAIL DANCE FESTIVAL 711310 1193868 1193868 GERALD R. FORD AMPHITHEATER 711310 563658 563658 AEG 711310 480419 480419 670918 670918 7306507 129955 -29 129984 721156 645282 75874 75874 75874 188400 1180453 241307 -52907 -52907 EMPLOYEE REDUCTION CREDIT 900099 973626 973626 973626 18789291 7306507 -29 1126577 2594609 2594609 1483639 1211155 272484 2834509 896176 1076736 861597 63859 25138 9916 28805 390003 110162 178835 101006 267644 138045 72791 56808 120561 75925 36483 8153 134948 134948 34646 34646 148932 89987 58945 852191 654014 882 197295 766919 516615 72499 177805 190829 42056 143938 4835 809315 538708 270607 247294 198969 27894 20431 74922 30861 44061 1007006 797090 209916 163203 92021 71182 PERFORMERS, TALENT & SP 1339570 1339570 SITE PREPARATION 1323020 1316189 6831 PRODUCTION EXPENSE 899041 895336 3705 EDUCATION, TRAINING AND 54684 9966 19022 25696 1358291 1178241 77994 102056 17159635 12660846 2851652 1647137 5839560 2468110 337846 313221 310653 220372 15446 0 812564 739806 23880381 12888507 11243586 10991874 14060344 6924319 407158 361918 1058660 973617 34085817 22993237 1567579 1618763 3267334 2950055 4228852 2959226 2957881 0 537996 150485 12559642 7678529 X 10716953 8262883 10809222 7051825 21526175 15314708 34085817 22993237 X 1629656 -498397 -7342726 X 0 1 X 1 0 X 9840302 9199089 9874916 8856511 10356236 48127054 9410133 9698994 9663098 1484662 7306507 37563394 19250435 18898083 19538014 10341173 17662743 85690448 3783470 3531340 3467580 3284289 1770648 15837327 1830302 1441544 72821 3344667 3783470 5361642 4909124 3357110 1770648 19181994 66508454 306015 547307 382218 226700 129955 1592195 306015 547307 382218 226700 129955 1592195 51070 55580 77155 183805 19607520 19500970 19997387 10567873 17792698 87466448 0.76040 0.72520 0.01820 0.02110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26 3 437000 200000 666156 55000 5179225 1745094 1 1 1659514 200000 -50019 55000 9401 1745094 5300111 1353676 534207 6119580 4609281 153422 91251 4671452 4925249 -22670 293298 4609281 3857464 1000000 276224 208439 4925249 0.00000 0.71420 0.28580 0 0 20403432 11246744 9156688 1024029 489884 534145 1666689 1005277 661412 786231 146602 639629 10991874 DUE TO RELATED PARTIES 150485 150485 X 18506248 -498397 250000 -248397 18754645 34646 34646 18789291 17374989 250000 250000 17124989 34646 34646 17159635 PART V, LINE 4: VAIL VALLEY FOUNDATION'S INTENDED USE OF THE PERMANENT ENDOWMENT FUND IS TO USE THE EARNINGS FROM THE INVESTED FUNDS FOR REPAIR AND MAINTENANCE EXPENSES ON THE FORD AMPHITHEATER. TEMPORARILY RESTRICTED DESIGNATED ENDOWMENTS ARE USED TO FUND EDUCATIONAL, SCHOLARSHIP, AND OTHER PROGRAMS OF THE FOUNDATION. PART X, LINE 2: VAIL VALLEY FOUNDATION (VVF) IS ORGANIZED AS COLORADO NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). VVF HAS BEEN DETERMINED TO NOT BE A PRIVATE FOUNDATION AND QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION. VVF IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, VVF IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. VVF FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME AND THESE TAX FILINGS ARE NO LONGER SUBJECT TO EXAMINATION FOR YEARS BEFORE 2018. NO INCOME TAXES WERE PAID DURING OR FOR THE YEARS ENDED MAY 31, 2022 AND 2021. VVF BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. VVF WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. SCHEDULE D, PART V, LINE 1A: THE DIFFERENCE BETWEEN ENDING AND BEGINNING ENDOWMENT FUNDS CHANGED TO PROPERLY ADJUST FOR ENDOWMENTS RECORDED IN VILAR PERFORMING ARTS CENTER, INC., A RELATED TAX-EXEMPT ORGANIZATION. BLACK DIAMOND BALL 1368853 1180453 188400 52804 7684 106674 67401 6744 1368853 1180453 188400 52804 7684 106674 67401 6744 241307 -52907 1 BRIGHT FUTURE FOUNDATION PO BOX 2558 AVON CO 81620 840938374 501(C)(3) 28392 0 GENERAL SUPPORT BRAVO VAIL 2271 N FRONTAGE RD UNIT C VAIL CO 81657 841074065 501(C)(3) 72500 0 GENERAL SUPPORT EAGLE VALLEY CHILDCARE ASSOCIATION PO BOX 1700 VAIL CO 81658 841606599 501(C)(3) 18784 0 GENERAL SUPPORT EAGLE VALLEY COMMUNITY FOUNDATION PO BOX 1580 VAIL CO 81658 471915583 501(C)(3) 14392 0 GENERAL SUPPORT FAMILY LEARNING CENTER 31626 HIGHWAY 6 EDWARDS CO 81632 841519047 501(C)(3) 7000 0 GENERAL SUPPORT LAKE COUNTY COMMUNITY FUND PO BOX 477 LEADVILLE CO 80461 814684882 501(C)(3) 34392 0 GENERAL SUPPORT MOUNTAIN RECREATION PO BOX 1891 EDWARDS CO 81632 840940886 501(C)(3) 9392 0 GENERAL SUPPORT ROUNDUP RIVER RRANCH 8333 COLORADO RIVER RD GYPSUM CO 81637 202632248 501(C)(3) 6000 0 GENERAL SUPPORT SKI & SNOWBOARD CLUB VAIL 598 VAIL VALLEY DR VAIL CO 81657 846038792 501(C)(3) 35000 0 GENERAL SUPPORT SMALL CHAMPIONS OF EAGLE COUNTY PO BOX 4691 VAIL CO 81658 841376280 501(C)(3) 10000 0 GENERAL SUPPORT SOS OUTREACH PO BOX 2020 AVON CO 81620 841332544 501(C)(3) 19392 0 GENERAL SUPPORT SPEAKUP REACHOUT PO BOX 5913 EAGLE CO 81631 900996653 501(C)(3) 9392 0 GENERAL SUPPORT THE CYCLE EFFECT PO BOX 1503 EAGLE CO 81631 460961369 501(C)(3) 14392 0 GENERAL SUPPORT THE SALVATION ARMY PO BOX 2183 EDWARDS CO 81632 941156347 501(C)(3) 6392 0 GENERAL SUPPORT UNITED WAY OF EAGLE RIVER VALLEY PO BOX 4153 EDWARDS CO 81632 841360915 501(C)(3) 14392 0 GENERAL SUPPORT VAIL MOUNTAIN SCHOOL 3000 BOOTH FALLS ROAD VAIL CO 816574631 840533775 501(C)(3) 33500 0 GENERAL SUPPORT VAIL VALLEY CHARITABLE FUND PO BOX 2307 EDWARDS CO 81632 841359124 501(C)(3) 13892 0 GENERAL SUPPORT VIDA FOUNDATION USA PO BOX 920 GYPSUM CO 81637 853804448 501(C)(3) 35392 0 GENERAL SUPPORT VILAR PERFORMING ARTS CENTER INC PO BOX 3822 AVON CO 81620 841316133 501(C)(3) 587021 0 GENERAL SUPPORT WALKING MOUNTAINS PO BOX 9469 AVON CO 81620 841436731 501(C)(3) 72500 0 GENERAL SUPPORT YOUTHPOWER365 90 BENCHMARK RD STE 202 AVON CO 81620 841442909 501(C)(3) 1527303 0 GENERAL SUPPORT 21 0 PART I, LINE 2: VAIL VALLEY FOUNDATION RECEIVES PERIODIC REPORTS FROM GRANTEE ORGANIZATIONS AS TO HOW GRANT FUNDS HAVE BEEN USED. THOSE REPORTS AND BASED ON THE EXTENSIVE RELATIONSHIPS THE FOUNDATION HOLDS WITH BUSINESSES AND THE COMMUNITY, THE FOUNDATION DEEMS TO HAVE ADEQUATELY FULFILLED THE MONITORING PROCEDURES FOR GRANTEES. X X 0 0 0 0 0 0 0 1 0 MICHAEL IMHOF PRESIDENT/CHIEF EXECUTIVE OFFICER 297160 0 61350 0 0 0 0 0 31806 0 390316 0 0 0 SARAH JOHNSON SVP PHILANTHROPY 214090 0 44267 0 0 0 8928 0 3257 0 270542 0 0 0 ROBERT J FORD CHIEF FINANCIAL OFFICER 196075 0 44879 0 0 0 6544 0 22308 0 269806 0 0 0 SARAH FRANKE VP MARKETING & OPERATIONS 178445 0 39573 0 0 0 6002 0 11205 0 235225 0 0 0 DAVE DRESSMAN VP SALES & GRFA 145720 0 43241 0 0 0 5545 0 31425 0 225931 0 0 0 BRIAN MULLER IT DIRECTOR 130746 0 29011 0 0 0 5738 0 11183 0 176678 0 0 0 JESSICA STEVENS SENIOR DIRECTOR OF SALES 71890 0 69774 0 0 0 4702 0 20374 0 166740 0 0 0 PART I, LINE 7 THE ORGANIZATION'S EXECUTIVE COMMITTEE ANNUALLY REVIEWS AND DETERMINES IF ADDITIONAL COMPENSATION IN THE FORM OF BONUSES WILL BE PAID TO EXECUTIVE STAFF AND OTHER STAFF AS IDENTIFIED BY THE COMMITTEE. BONUSES ARE APPROVED BASED ON REVIEW OF EACH INDIVIDUAL'S PERFORMANCE AND SERVICES TO THE ORGANIZATION. A COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY 840896727 2013-01-17 5770000 REFINANCE EXISTING LOANS. 0 0 0 A 2501824 5570000 74803 5495197 2013 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 0 1 MORGAN STANLEY CAPITAL SERVICES 30.000000000000 0 1 0 0 1 A 0 X 75 834110 COST OR SELLING PRICE X APPAREL, MISC. GIFTS, TRANSPORTAION 166 553563 COST OR SELLING PRIC 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE TOTAL NUMBER OF CONTRIBUTIONS IN PART I, COLUMN (B). FORM 990, PART III, LINE 3 PRIOR TO JUNE 1, 2021, VAIL VALLEY FOUNDATION HAD A RESTRICTING AGREEMENT WITH VILAR PERFORMING ARTS CENTER (VPAC), A RELATED EXEMPT PUBLIC CHARITY, WHICH COMBINED THE TWO ENTITIES WHEREBY ALL OPERATIONS AND ACTIVITY OF VPAC ARE REPORTED AS A PROGRAM OF VAIL VALLEY FOUNDATION. EFFECTIVE AS OF JUNE 1, 2021, THE RESTRICTING AGREEMENT WITH VPAC IS NO LONGER IN EFFECT. THE PROGRAMMATIC OPERATIONS AND ACTIVITIES OF THE PERFORMING ARTS CENTER ARE NOW CONDUCTED BY VPAC AND WILL BE REPORTED ON VPAC'S FORM 990. FORM 990, PART VI, SECTION A, LINE 1A VAIL VALLEY FOUNDATION IS MANAGED BY AN EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE INCLUDES THE CHAIRMAN OF THE BOARD, THE PRESIDENT/CEO, AND TEN ADDITIONAL BOARD MEMBERS APPOINTED BY THE BOARD OF DIRECTORS. EXCEPT AS OTHERWISE PROVIDED BY LAW, THE ARTICLES AND BYLAWS OF THE VAIL VALLEY FOUNDATION, THE EXECUTIVE COMMITTEE SHALL BE VESTED WITH THE POWERS OF THE BOARD OF DIRECTORS IN THE INTERIM BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND THE VAIL VALLEY FOUNDATION CONTROLLER BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL OFFICERS, DIRECTORS, AND OTHER TOP MANAGEMENT OFFICIALS. THE EXISTENCE OF ANY POTENTIAL CONFLICT OF INTEREST SHALL BE DISCLOSED TO THE CFO AND/OR BOARD OF DIRECTORS, WHO SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IN THE EVENT A CONFLICT OF INTEREST DOES EXISTS, THE CFO AND/OR BOARD OF DIRECTORS WILL DETERMINE WHETHER OR NOT THE INDIVIDUALS WITH THE CONFLICT SHOULD BE RECUSED FROM THE DELIBERATION ON THE MATTER AND WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR AND REASONABLE TO THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR TOP MANAGEMENT OFFICIALS, KEY EMPLOYEES, AND OTHER OFFICERS IS REVIEWED BY THE EXECUTIVE COMMITTEE, WHICH IS MADE UP OF BOARD MEMBERS, ON AN ANNUAL BASIS. THE COMMITTEE MEETS AT THE END OF THE YEAR TO DETERMINE COMPENSATION ADJUSTMENTS. PRIOR TO MEETING, THE CFO PROVIDES THE COMMITTEE WITH A PACKAGE SUMMARIZING COMPENSATION INFORMATION. AT THE MEETING THE EXECUTIVE COMMITTEE REVIEWS, MODIFIES AND/OR APPROVES THE COMPENSATION PACKAGE AS WELL AS COMPARES COMPENSATION LEVELS OF THE ABOVE MENTIONED POSITIONS TO THAT OF SIMILAR POSITIONS IN OTHER ORGANIZATIONS COMPARABLE TO VAIL VALLEY FOUNDATION IN THEIR DETERMINATION TO APPROVE ANY COMPENSATION ADJUSTMENTS FOR THE CEO, KEY EMPLOYEES, AND OTHER OFFICERS FOR THE UPCOMING YEAR. FORM 990, PART VI, SECTION C, LINE 19 VAIL VALLEY FOUNDATION MAKES IT GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY TRANSFER TO VILAR CENTER ARTS FOUNDATION -7,335,733. EQUITY TRANSFER TO VVF EVENTS HOLDING COMPANY, INC. -6,993. VILAR PERFORMING ARTS CENTER INC PO BOX 3822 AVON CO 81620 841316133 PROMOTE AN APPRECIATION OF THE ARTS CO 501(C)(3) LINE 7 VAIL VALLEY FOUNDATION 1 YOUTHPOWER365 PO BOX 6550 AVON CO 81620 841442909 PREPARE CHILDREN IN NEED FOR SUCCESS IN LIFE THROUGH EDUCATION CO 501(C)(3) LINE 7 VAIL VALLEY FOUNDATION 1 MAGIC OF LIGHTS VAIL LLC 90 BENCHMARK RD STE 300 AVON CO 81620 853703854 PROMOTERS OF ART CO N/A 0 0 VVF EVENTS HOLDING COMPANY INC 90 BENCHMARK RD STE 300 AVON CO 81620 853714412 HOLDING COMPANY CO VAIL VALLEY FOUNDATION C -82925 114785 1.00000 1 EAGLE RIVER VALLEY CHILDCARE PO BOX 6550 AVON CO 81620 882418489 EMPLOYER BASED CHILDCARE FACILITY CO VAIL VALLEY FOUNDATION C 1.00000 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 1 0 VILAR PERFORMING ARTS CENTER INC B 587021 COST YOUTHPOWER365 B 1527303 COST VILAR PERFORMING ARTS CENTER INC R 7335733 COST