2023-04-10T19:31:09-05:00 2022-05-31 SMITH & HOWARD ADVISORY LLC 271 17TH STREET NW SUITE 1600 ATLANTA GA 30363 990 2021-06-01 580633971 ROBERT W WOODRUFF ARTS CENTER INC % HALA MODDELMOG ROBE 4047334200 1280 PEACHTREE ST NE ATLANTA GA 30309 HALA MODDELMOG PRESIDENT & CEO 4047337205 2023-04-15 true HALA MODDELMOG 999009999 SABRE J LINAHAN P01372980 4048746244 2023-04-15 3 2021 2023-04-26 12:10:37Z HALA MODDELMOG 1280 PEACHTREE ST NE ATLANTA GA 30309 188790736 false X WWW.WOODRUFFCENTER.ORG X 1965 GA CHARITABLE ARTS ORGANIZATION TO INSPIRE, CREATE, SUPPORT AND CELEBRATE RENOWNED ARTS AND EDUCATION FOR DIVERSE AUDIENCES THROUGH OUR UNIQUE MODEL OF PARTNERSHIPS AND COLLABORATIONS. 126 124 1010 480 3207345 1282207 44967189 72106220 7601481 23287462 64989769 16768375 5612206 6316495 123170645 118478552 0 0 0 0 37347046 43562915 0 0 6380237 37028710 55231187 74375756 98794102 48794889 19684450 744630969 676001551 209668345 198991711 534962624 477009840 X THE WOODRUFF ARTS CENTER'S MISSION IS TO INSPIRE, CREATE, SUPPORT, AND CELEBRATE RENOWNED ARTS AND EDUCATION FOR DIVERSE AUDIENCES THROUGH A UNIQUE MODEL OF PARTNERSHIPS AND COLLABORATIONS, AND IN AN INSTITUTIONALLY SUSTAINABLE MANNER. false false 33155155 11556802 ATLANTA SYMPHONY ORCHESTRA: The Atlanta Symphony Orchestra unites, educates, and enriches our community through the engaging and transformative power of orchestral music experiences. More than 150 concerts are performed each year including the Delta Classical Series, Movies in Concert, Family Concert Series, Atlanta Symphony Hall LIVE and the Coca-Cola Holiday Series, as well as community and education concerts. Now in his final season as Music Director, Robert Spano continues to nurture and champion contemporary American music while defining a new generation of American composers through the Atlanta School of Composers and other partnerships. With excellent live performances, impressive guest artists, a renowned chorus, and engaging education initiatives, the Grammy award winning Atlanta Symphony Orchestra continues to be a leader in its industry. 21794757 6222707 HIGH MUSEUM OF ART: The High Museum of Art is a renowned art institution that connects with audiences from across the southeastern United States and around the world through a broad range of historic and contemporary art. While its program is international in scope, the High's connections to its region and diverse communities help inform and enrich the development of its collections, exhibitions, and related educational endeavors. Featuring more than 18,300 works that span seven curatorial departments, the High's collection reflects a broad spectrum of media and cultures. Among these are superior holdings of American, African, and European art, an important collection of historic decorative arts and international contemporary design, a prominent collection of modern and contemporary art, and a renowned collection of photography. The High is dedicated to reflecting the diversity of its communities and offering a variety of exhibitions and educational programs that engage visitors with the world of art, the lives of artists and the creative process. 13505288 6411396 ALLIANCE THEATRE: The Alliance Theatre is the leading producing theatre in the southeast, creating the powerful experience of shared theatre for diverse people. With a commitment to lead the national field by deeply engaging with its local community, modeling radical inclusion and catalytic experiences on our stages, in our classrooms, and throughout Atlanta, the Alliance Theatre has played an important role since its inception in 1968. Under the leadership of Susan V. Booth, Jennings Hertz Artistic Director, the Alliance Theatre received the regional theatre Tony Award in recognition of sustained excellence in programming education, and community engagement. As the leading producing theater in the Southeast, the Alliance Theatre reaches more than 165,000 patrons annually while delivering powerful programming that challenges adult and youth audiences to think critically and care deeply. 68455200 true true false true false false false true false true true true false false false true false true false false true false false false true false false false false true true false false false false false false false true false false true true false false true true false false false true 309 0 true 1010 true true true false false false false true true false false false false false false X 126 124 true false false false false false false true true false false true true true true true true true true false AL AK DC FL GA IL LA MI MS MO NH OH RI SC X HALA MODDELMOG 4047334200 1280 PEACHTREE ST ATLANTA GA 30309 X Rand Suffolk High Museum Director 40.0 0.0 X 590179 0 57498 Susan Booth Artistic Director - AT 40.0 0.0 X 453198 0 69109 Robert Spano Music Director 40.0 0.0 X 453021 0 26927 Jennifer Barlament Executive Director - ASO 40.0 1.0 X 371848 0 55678 Hala Moddelmog President 40.0 0.0 X X 399721 0 759 Brady Lum Deputy Director 40.0 0.0 X 264276 0 37842 Michael Schleifer Managing Director - AT 40.0 0.0 X 249541 0 37855 Susan Ambo CFO ASO 40.0 1.0 X 259270 0 8616 David Coucheron Concertmaster 40.0 0.0 X 252171 0 11794 Eleanor Tarvin Chief Human Resources Officer 40.0 0.0 X 219085 0 26774 Pat Gunning Chief Financial Officer 40.0 0.0 X 224510 0 0 Kristin Hansen Chief Development Officer 40.0 0.0 X 217537 0 6340 Beth Gibbs General Counsel 40.0 0.0 X 216875 0 4581 Allison Chance Director of Dev. - High Museum 40.0 0.0 X 175313 0 33949 Grace Sipusic VP of Development ASO 40.0 0.0 X 187208 0 14795 Brian Shively Director of Finance & Admin 40.0 0.0 X 191477 0 6029 Brian Walley Vice President Finance 40.0 1.0 X 172831 0 20214 Kevin Tucker Chief Curator 40.0 0.0 X 167963 0 12811 Kevin Henlon Finance Director 40.0 0.0 X 160224 0 6757 Claire 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PROGRAMS FEES 711190 2710460 2710460 PARKING REVENUE 711190 2665940 2651287 14653 MUSEUM EXHIBITIONS 711190 3981327 3981327 OTHER 711190 1943419 1943419 1656268 1656268 23287462 1311655 1130359 181296 0 46639 46639 4557361 935184 3622177 0 3622177 1831928 1790249 83295520 67838800 15456720 15456720 15456720 2253465 1407745 754288 1499177 1499177 0 0 0 1932414 783912 1148502 918097 230405 0 118478552 24190906 3207345 18974081 0 0 0 0 4712352 3341958 941423 428971 0 31649904 22445828 6322948 2881128 573853 457417 70002 46434 4049864 3026891 656727 366246 2576942 1926021 417877 233044 0 225013 225013 371247 371247 0 0 617071 617071 5016402 1039877 3440720 535805 3552764 3258708 256636 37420 165728 81639 63822 20267 1269215 766128 416441 86646 211134 211134 6190449 2993659 3187015 9775 1785147 1038726 79290 667131 0 356743 49117 30427 277199 6881616 5384928 1496392 296 0 10895888 6725125 4163881 6882 1431011 231470 1199541 EXHIBITIONS 8839975 8839740 235 SET DESIGN COSTS 5769326 5769326 GENERAL ADMINISTRATION 1652458 867508 1957 782993 98794102 68455200 23958665 6380237 X 16833084 28773473 0 0 14747981 20638571 14283569 18546377 0 0 0 0 0 0 504753 469213 4121536 5082800 356818615 193328698 169334713 163489917 329329615 290892626 164965396 120788564 0 0 0 0 30510322 27320010 744630969 676001551 31621816 28330479 0 0 5583053 9271093 145732994 145355139 0 0 0 0 18235000 16035000 8495482 0 0 0 209668345 198991711 X 109158781 98699163 425803843 378310677 534962624 477009840 744630969 676001551 X 19684450 -76815538 -848714 27018 X false true X true false X 45817705 45267676 31384129 44967189 72106220 239542919 0 0 45817705 45267676 31384129 44967189 72106220 239542919 32234152 207308767 6746320 8544860 7595839 4687187 2953368 30527574 702778 974344 1755187 2796362 6228671 2811687 471673 3283360 279582524 117409112 0.74149 0.74393 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true true false true false false true 0 false false 0 false PART II-B LOBBYING related to TICKET SALE TAX EXEMPTION. WORK WAS DONE PRO BONO AT AN ESTIMATED VALUE OF $25,000. X X X X false 368587906 8905713 -45312746 16292734 315888139 338497595 1795580 86476265 58181534 368587906 358951159 3135337 5437073 29025974 338497595 380631061 5916534 -10839100 16757336 358951159 362906625 7849192 26337446 16462202 380631061 0.12270 0.76050 0.11680 true false false 10526166 10526166 262445502 120120868 142324634 81718820 71985787 9733033 2128127 1222043 906084 163489917 HEDGE FUNDS 70221898 F PRIVATE EQUITY FUNDS 43614496 F DISTRESSED OPPORTUNITY FUNDS 70105 F EMERGING MARKETS 140014 F SENIOR DIRECT LOAN FUNDS 100180 F REAL ESTATE FUNDS 6641871 F 120788564 0 0 X PT III, LINE 1A The High Museum of Art's collections comprise more than 18,300 objects and works of art. The collections are maintained for public exhibition, education and research in furtherance of public service rather than for financial gain and are considered to have cultural, aesthetic or historical value worth preserving perpetually. In conformity with accounting practices generally followed by art museums, the value of the Museum's collections has been excluded from the consolidated statements of financial position. Contributions for purchases of art objects are recorded as increases in net assets and purchases of art objects are recorded as decreases in net assets in the consolidated statements of activities. Proceeds received from the deaccession of works of art are used to purchase other works of art or for direct care of the Museum's collections. Direct care is defined as costs associated with conservation, preservation, registration, maintenance, storage and safeguarding of collections. Proceeds from deaccessions of art were $185,314 for the year ended May 31, 2021. There were no significant deaccessions of art for the year ended May 31, 2020. Part III, Line 4 THE HIGH MUSEUM OF ART HAS MORE THAN 18,300 OBJECTS AND WORKS OF ART IN ITS PERMANENT COLLECTION, AN EXTENSIVE ANTHOLOGY OF 19TH AND 20TH CENTURY AMERICAN AND DECORATIVE ART, SIGNIFICANT HOLDINGS OF EUROPEAN PAINTINGS, A GROWING COLLECTION OF AFRICAN-AMERICAN ART, AND A BURGEONING COLLECTION OF MODERN, CONTEMPORARY, AND AFRICAN ART. THE HIGH IS DEDICATED TO SUPPORTING AND COLLECTING WORKS BY SOUTHERN ARTISTS, AND IS DISTINGUISHED AS THE ONLY MAJOR MUSEUM IN NORTH AMERICA TO HAVE A CURATORIAL DEPARTMENT SPECIFICALLY DEVOTED TO THE FIELD OF FOLK AND SELF-TAUGHT ART. Part V, Line 4 Endowment funds are available for use in operational support and organizational growth. Part X, Line 2 The Arts Center is recognized as an organization exempt from Federal income taxes under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3) whereby only unrelated business income, is subject to Federal income tax. The Arts Center accounts for income taxes in accordance with GAAP. This prescribes the use of the liability method whereby deferred tax asset and liability account balances are determined based on differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted rates and laws that will be in effect when the differences are expected to reverse. The Arts Center provides a valuation allowance, if necessary, to reduce deferred tax assets to their estimated realizable value. The Arts Center accounts for uncertainty in income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. The Arts Center utilizes a two-step approach for evaluating tax positions. Recognition occurs when the Arts Center concludes that a tax position, based solely on its technical merits, is more likely than not to be sustained upon examination. Measurement is only addressed if recognition has been satisfied. Under measurement, the tax benefit is measured at the largest amount of benefit, determined on a cumulative probability basis that is more likely than not to be realized upon final settlement. The term "more likely than not" is interpreted to mean that the likelihood of occurrence is greater than 50%. ASC 740, Accounting for Uncertainty in Income Taxes, establishes the criterion that an individual tax position has to meet for some or all of the benefits of that position to be recognized in the Arts Center's consolidated financial statements. Under ASC 740, the Arts Center is required to determine that the relevant tax authority would more likely than not sustain its tax position following an IRS audit. Tax years open to examination by tax authorities under the statute of limitations include fiscal 2020 through 2022. The Arts Center has determined that its material tax positions satisfy the more likely than not criterion and that no provision for income taxes was required at May 31, 2022 and 2021, for uncertain tax positions. Deferred income taxes are provided for differences in timing of income and expenses for financial reporting and income tax reporting purposes. During the years ended May 31, 2022 and 2021, the Arts Center recorded a deferred income tax asset relating to transferable Georgia Film Production Tax Credits in the amount of $1,656,268 and $2,489,763, respectively, which was also recorded as a credit for deferred income taxes. Under the Georgia's Entertainment Industry Investment Act, companies that produce film, television series, music videos and commercials can be provided a 20 percent tax credit on production and post-production costs in Georgia. The act also provides an additional 10 percent tax credit if the finished project includes a promotional logo provided by the state. The Arts Center is eligible for 30% tax credit on production and post-production costs related to virtual performances conducted at Atlanta Symphony Orchestra and Alliance Theatre that occurred during fiscal years 2022 and 2021. The Arts Center calculated Georgia tax credits in the amount of $1,840,298 and $2,728,019 respectively for fiscal years 2022 and 2021. As the Arts Center is not able to utilize the credits against its own taxable revenue, it intends to sell the credits once formal approval is provided by the Georgia Department of Revenue. The Arts Center estimates they can sell the credits for approximately 90% of credit amount, thus has recorded a valuation allowance on the deferred tax credits in the amount of $184,030 as of May 31, 2022, and $272,802 as of May 31, 2021. The net deferred income tax asset (credits) for fiscal year 2021 were sold in February 2022 at the sale rate (net of brokerage fees) of 91.6% for a total of $2,589,891 thereby relieving the fiscal year 2021 deferred income tax asset and generating fiscal year 2022 earnings of $134,674 recorded as operating income in the consolidated statement of activities. Central America and the Caribbean 0 0 Investments 253108405 Europe (Including Iceland and Greenland) Program Services SCOUTING 40844 Sub-Saharan Africa Program Services SCOUTING 5853 East Asia and the Pacific Program Services SCOUTING 6196 North America Program Services SCOUTING 1593 0 0 0 0 253162891 253162891 true false false true true false AL AK AR CA CO CT DC FL GA HI IL KS KY LA MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI WINE AUCTION 2524300 771819 1752481 202304 21022 72018 DRISKELL DINNER 280500 206625 73875 1058 850 4 856410 429301 427109 280 25216 300057 124724 6759 3661210 1407745 2253465 280 26274 502361 146596 78777 754288 1499177 X X X X true true X X X X X X true true false false false false false true false Hala Moddelmog President 399721 0 0 0 0 0 0 0 759 0 400480 0 0 0 Pat Gunning Chief Financial Officer 224510 0 0 0 0 0 0 0 591 0 225101 0 0 0 Beth Gibbs General Counsel 216875 0 0 0 0 0 4581 0 591 0 222047 0 0 0 Rand Suffolk High Museum Director 536360 0 53819 0 0 0 28346 0 30177 0 648702 0 11788 0 Robert Spano Music Director 453021 0 0 0 0 0 7502 0 19425 0 479948 0 0 0 Susan Booth Artistic Director - AT 453198 0 0 0 0 0 39957 0 29152 0 522307 0 0 0 Jennifer Barlament Executive Director - ASO 310648 0 61200 0 0 0 33800 0 22903 0 428551 0 0 0 Brady Lum Deputy Director 253926 0 10350 0 0 0 8690 0 30177 0 303143 0 0 0 Michael Schleifer Managing Director - AT 249541 0 0 0 0 0 8703 0 29152 0 287396 0 0 0 Susan Ambo CFO ASO 225304 0 33966 0 0 0 8616 0 0 0 267886 0 0 0 David Coucheron Concertmaster 250371 0 1800 0 0 0 0 0 11794 0 263965 0 0 0 Eleanor Tarvin Chief Human Resources Officer 219085 0 0 0 0 0 7349 0 19425 0 245859 0 0 0 Kristin Hansen Chief Development Officer 217537 0 0 0 0 0 6340 0 1025 0 224902 0 0 0 Brian Shively Director of Finance & Admin 191477 0 0 0 0 0 6029 0 0 0 197506 0 0 0 Grace Sipusic VP of Development ASO 159117 0 28091 0 0 0 6142 0 8653 0 202003 0 0 0 Allison Chance Director of Dev. - High Museum 164963 0 10350 0 0 0 4797 0 30177 0 210287 0 0 0 Brian Walley Vice President Finance 172831 0 0 0 0 0 5775 0 15464 0 194070 0 0 0 Kevin Tucker Chief Curator 167613 0 350 0 0 0 5404 0 8432 0 181799 0 0 0 Kevin Henlon Finance Director 160224 0 0 0 0 0 5217 0 2565 0 168006 0 0 0 PART I, LINE 4A Individuals who served AS OFFICERS FOR PART OF THE YEAR RECEIVED SEVERANCE PAYMENTS AFTER THEIR EMPLOYMENT ENDED. PART 1, LINE 7 OFFICERS AND OTHER MANAGEMENT PERSONNEL ARE ELIGIBLE TO PARTICIPATE In BONUSES. part I line 4b THE ARTS CENTER MAINTAINS A NONQUALIFIED PLAN FOR CERTAIN CURRENT AND FORMER MANAGEMENT PERSONNEL. THE TOTAL EXPENSE FOR CURRENT EMPLOYEES IS $88,953. Deferred compensation paid in the current year is $11,788; this amount was reported as deferred compensation expense on prior years' Form 990 and is included as taxable income on the employees' current year W-2. A DEVELOPMENT AUTHORITIES OF FULTON AND DEKALB 581639487 2009-09-24 196035351 REFUND 2/1/02, 4/28/04, 1/16/08 false false false B DEVELOPMENT AUTHORITIES OF FULTON CO 581639487 2015-12-30 43710329 REFUND 9/24/2009 false false false C DEVELOPMENT AUTHORITIES OF FULTON CO 581639487 2019-01-10 55334175 REFUND A PORTION OF 9/24/2009 false false false A 146455351 0 196035351 0 0 0 2040700 271651 0 0 188631750 0 true false true true B 0 0 43710329 0 0 0 519194 0 0 0 43191135 0 true false true true C 0 0 55334175 0 0 0 539612 0 0 0 54794563 0 true false true true A false false false false 0 0.02030 0.02030 false true 0.07864 true true B false false false false 0 0.02030 0.02030 false true true C false false false false 0 0.02030 0.02030 false true true A false false false false true false 0 false 0 false true B false false true false false false 0 false 0 false true C false false true false false false 0 false 0 false true A false B false C false PART I, LINE A On September 24, 2009, the Development Authorities of Fulton and Dekalb Counties issued three series of bonds for the benefit of the Robert W. Woodruff Arts Center, Inc. Under treasury regulation section 1.150-1(c), the three series of bonds were considered a single "issue" for federal income tax purposes and are shown collectively on Line A. The relevant information regarding the separate series of bonds is as follows: (A) Issuer Name: Development Authority of Dekalb County (B) Issuer EIN: 58-1500666 (C) CUSIP #: 240463JG5 (D) Date Issued: 9/24/09 (E) Issue Price: $5,343,160 (F) Description of Purpose: Refund 2/1/02 The principal $5,235,000 of Development Authority of Dekalb County bonds, CUSIP 240463JG5, was repaid on 3/15/2015. (A) Issuer Name: Development Authority of Fulton County (B) Issuer EIN: 58-1639487 (C) CUSIP #: 359900ZQ3 (D) Date Issued: 9/24/09 (E) Issue Price: $125,692,191 (F) Description of Purpose: Refund 2/1/02, 4/28/04, 1/16/08 (A) Issuer Name: Development Authority of Fulton County (B) Issuer EIN: 58-1639487 (C) CUSIP #: 359900ZL4 (D) Date Issued: 9/24/09 (E) Issue Price: $65,000,000 (F) Description of Purpose: Refund 2/1/02 (A) Issuer Name: Development Authority of Fulton County (B) Issuer EIN: 58-1639487 (C) CUSIP #: 3599007B7 (D) Date Issued: 12/30/2015 (E) Issue Price: $43,710,329 (F) Description of Purpose: Refund 9/24/09 A portion of the Development Authority of Fulton County bonds, CUSIP 359900ZL4, has been redeemed, but no other portion has been defeased. None of the bonds was applied as an "on behalf of" issuer, and no portion of the bonds was a "pooled financing." PART II, LINE 1 Development Authority of Dekalb County bonds, CUSIP 240463JG5, in the amount of $5,235,000 matured and was redeemed on March 15, 2016. A portion of the Development Authority of Fulton County bonds, CUSIP 359900ZL4, in the amount of $15,420,000 was redeemed on June 24, 2014. A portion of the Development Authority of Fulton County bonds, CUSIP 359900ZQ3, in the amount of $57,600,000 was redeemed on March 15, 2016. PART IV, LINE 2 A rebate computation showing no amount due was performed as of September 24, 2014. ELIZABETH HOLDER WIFE OF OWNER OF HOLDER CONSTRUCTION 1318204 CONSTRUCTION SERVICES PART IV ELIZABETH HOLDER (TRUSTEE) IS THE WIFE OF THE OWNER OF HOLDER CONSTRUCTION GROUP, LLC, FROM WHICH WOODRUFF ARTS CENTER, INC. CONTRACTED CONSTRUCTION SERVICES DURING THE FISCAL YEAR. WOODRUFF ARTS CENTER, INC. PAID HOLDER CONSTRUCTION GROUP, LLC $1,318,204 DURING THE CURRENT TAX YEAR AND THIS TRUSTEE IS REPORTED AS AN INTERESTED PERSON AS A RESULT OF THOSE TRANSACTIONS. X 247 0 X 96 5483694 STOCK QUOTE X MUSICAL INSTRUMENTS 1 38000 FMV 16 false true true Sch M, Line 1 UNDER SFAS 116, THE ORGANZATION DOES NOT REPORT REVENUES FOR ARTWORK AND COLLECTIONS RECEIVED ON ITS FINANCIAL STATEMENTS AS REPORTED ON LINE 1 OF SCHEDULE M. Sch M, Line 32B ANY NON-CASH CONTRIBUTIONS IN THE FORM OF STOCKS ARE IMMEDIATELY SENT TO STATE STREET FOR LIQUIDATION, SO THE STOCKS CAN BE CONVERTED TO CASH. Sch M, Line 33 Donated works of art include painting, sculptures, prints, ceramics, decorative arts, and photography. Column B - the organization is reporting the number of contributions, not the number of items contributed. Pt VI, Line 2 Aldo LaFiandra, Darcy White, and Jamila Hall - business relationship James W. Boswell, Joshua M. Kamin, and Alan Prince - business relationship JANINE BROWN AND ANGELA SPIVEY - BUSINESS RELATIONSHIP ANN W. CRAMER AND LOVETTE RUSSELL - BUSINESS RELATIONSHIP TERESA M. FINLEY, KURT P. KUEHN, AND LAURA LANE - BUSINESS RELATIONSHIP DAVID LEITER AND MILFORD W. MCGUIRT - BUSINESS RELATIONSHIP CHRISTOPHER CUMMISKEY AND SLOANE DRAKE - BUSINESS RELATIONSHIP KAPPY DEBUTTS AND GALEN L. OELKERS - BUSINESS RELATIONSHIP GLENN W. MITCHELL III AND PETER AMAN - BUSINESS RELATIONSHIP PART VI, LINE 11A THE FORM 990 IS COMPLETED ANNUALLY AND COPIES ARE PROVIDED TO THE ENTIRE BOARD OF TRUSTEES AS WELL AS THE PRESIDENT/CEO OF THE ORGANIZATION. THE DRAFT 990 IS ALSO PRESENTED TO THE GOVERNING BOARD AND THE AUDIT COMMITTEE, WHICH HAS THE OPPORTUNITY TO ASK QUESTIONS, AND PROVIDE FEEDBACK OR COMMENTS WHICH ARE ADDRESSED AS NECESSARY. A COPY OF THE APPROVED, SIGNED FORM 990 IS PROVIDED TO ALL OFFICERS, DIRECTORS, AND TRUSTEES BEFORE THE RETURN IS FILED. PART VI, LINE 12C ROBERT W. WOODRUFF ARTS CENTER, INC. (THE "ARTS CENTER") MAINTAINS A CONFLICT OF INTEREST POLICY, ORIGINALLY ADOPTED BY THE BOARD OF TRUSTEES IN 1995, AS AMENDED THEREAFTER (THE "POLICY"). THIS POLICY APPLIES TO ALL ART CENTER TRUSTEES, OFFICERS AND EMPLOYEES, AS WELL AS OTHER ARTS CENTER REPRESENTATIVES. THE POLICY IS INTENDED TO PREVENT THE ARTS CENTER FROM ENGAGING WITH RELATED PERSONS IN TRANSACTIONS WHICH ARE IMPERMISSIBLE OR IMPROPER UNDER GEORGIA NONPROFIT CORPORATION LAW OR FEDERAL TAX LAW (ALTHOUGH THE POLICY IS MORE EXPANSIVE THAN THESE LAWS.) THE KEY DEFINITIONS UNDER THE POLICY ARE "INSIDER, "FAMILY MEMBER,"RELATED PARTY." THE POLICY IS REVIEWED AND UPDATED (IF NECESSARY) ON AN ANNUAL BASIS. THE UPDATED DOCUMENT IS THEN DISTRIBUTED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. A COPY OF THE POLICY AND A RELATED QUESTIONNAIRE IS THEN DISTRIBUTED ANNUALLY TO ALL ARTS CENTER TRUSTEES, OFFICERS AND SENIOR MANAGEMENT, AS WELL AS OTHER ARTS CENTER REPRESENTATIVES. ONCE RESPONSES ARE OBTAINED, THEY ARE REVIEWED AND RESULTS COMPILED, INCLUDING A LIST OF POTENTIAL CONFLICTS TO BE REVIEWED BY THE AUDIT COMMITTEE AND MANAGEMENT. THE AUDIT COMMITTEE WILL DETERMINE WHETHER A BUSINESS OR FINANCIAL RELATIONSHIP INVOLVING A TRUSTEE OR OFFICER SHOULD BE ENTERED INTO OR CONTINUED. IN THE CASE OF ANY SUCH RELATIONSHIP INVOLVING A TRUSTEE, SUCH A DETERMINATION SHALL BE SET FORTH IN A WRITTEN REPORT OF THE AUDIT COMMITTEE, SIGNED BY THE CHAIRMAN AND A MAJORITY OF THE COMMITTEE, AND PROVIDED TO THE BOARD OF TRUSTEES. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A TRUSTEE, OFFICER, EMPLOYEE, OR OTHER REPRESENTATIVE HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE INDIVIDUAL OF THE BASIS FOR SUCH BELIEF AND ALLOW HIM/HER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE TRUSTEE, OFFICER, EMPLOYEE, OR OTHER REPRESENTATIVE HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. PT VI, LINE 15 The determination of compensation for the officers and other key employees is the responsibility of the BOARD OF DIRECTORS OF THE Robert W. Woodruff Arts Center, Inc. which has delegated this to the Compensation Committee. The Compensation Committee is composed of INDEPENDENT board members whose responsibilities include, in part, the review and approval of the compensation for the officers and key employees. The compensation agreements deliberated by the Committee are determined based on comparable data which is documented in the records of the Committee's work. Such documentation is meant to meet or exceed the requirements which would satisfy the rebuttable presumption criteria under the intermediate sanctions language of the IRS. As the composition of the Compensation Committee is comprised exclusively of Board members, each Board member completes a conflict of interest statement which is reviewed by the Center's management prior to the completion and filing of the return. PART vi, line 19 Governing documents for the Robert W. Woodruff Arts Center, Inc. are registered with the State of Georgia. Conflict of interest policy and financial statements are available upon request. part viii line 1e ERTC is a refundable tax credit against certain employment taxes equal to 50% of qualified wages. During the years ended May 31, 2022 and 2021, Arts Center requested refunds under the program in the amount of $5,876,076 and $3,735,571, respectively, and recorded as government grants in the consolidated statement of activities. At May 31, 2022 and 2021, the Arts Center had receivables totaling $6,783,487 and $1,034,561, respectively, in the pledges and other receivables in the consolidated statement of activities. On July 8, 2021, the Arts Center received a federal grant, Shuttered Venue Operators Grant (SVOG), from the Small Business Administration in the amount of $1,504,518. The SVOG grant is conditioned upon certain performance requirements and / or the incurrence of allowable qualifying expenses of which $1,504,518 was recognized during the year ended May 31, 2022 as government grants in the consolidated statement of activities. part xi line 9 Other changes in net assets or fund balance $ 1,687,377 Change in interest rate swap value $-2,477,459 Change in split interest agreements $ 817,100 Change in minimum pension liability ____________ $ 27,018 ASO PRODUCTIONS LLC 1280 PEACHTREE ST NE ATLANTA GA 30309 853846658 investment GA 0 0 WOODRUFF ART ALLIANCE THEATRE PRODUCTIONS LLC 1280 PEACHTREE ST NE ATLANTA GA 30309 854027099 investment GA 0 0 WOODRUFF ART ENCORE PARK FOR THE ARTS INC 1280 PEACHTREE STREET NE ATLANTA GA 30309 161661377 FUNDRAISING GA 501(C)(3) 509(A)(3) WAC false E P McBurney Trust 303 peachtree street atlanta GA 30308 586029235 TRUST-INVESTI GA TRUIST TRUST 972599 8702072 false E P MCBURNEY TRUST 303 PEACHTREE STREET ATLANTA GA 30308 586029260 TRUST-INVESTI GA TRUIST TRUST 159007 1428710 false LUCY CLAIR HARRIS TRUST one west 4th street winstonsalem NC 27101 586163824 TRUST-INVESTI GA WELLS FARGO TRUST 4414 174722 false Charitable Remainder trust (4) 999999999 trust investi GA various trust false false false false false false false false false false false false false false false false false false false false