2023-05-15T11:57:30-05:00 2022-06-30 941254756 HOOD & STRONG LLP 60 SO MARKET ST STE 200 SAN JOSE CA 95113 990 2021-07-01 941156610 SAN FRANCISCO CONSERVATORY OF MUSIC SANF 4157593423 50 OAK STREET SAN FRANCISCO CA 94102 KATHRYN WITTENMYER V.P. FINANCE & ADMIN 4157593423 2023-05-12 1 KATHRYN WITTENMYER 999009999 MAGA E KISRIEV P01008919 4089988400 2023-05-13 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DAVID STULL 50 OAK STREET SAN FRANCISCO CA 94102 72161725 0 X WWW.SFCM.EDU X 1923 CA THE CONSERVATORY OFFERS UNDERGRADUATE, GRADUATE AND POSTGRADUATE MUSICAL EDUCATION. 29 29 690 30 2510 0 21020000 26086269 23389251 27448229 2757252 3323856 706662 2488904 47873165 59347258 12096395 13900972 0 0 18910491 21701703 66525 59220 2361155 12572937 18368096 43646348 54029991 4226817 5317267 341811653 332329628 110421645 105894710 231390008 226434918 THE SAN FRANCISCO CONSERVATORY OF MUSIC (SFCM) EDUCATES EXCEPTIONALLY TALENTED MUSICIANS FROM AROUND THE WORLD TO BECOME ARTISTS OF THE HIGHEST CALIBER, AS WELL AS MUSICAL CITIZENS PREPARED FOR THE CHALLENGES OF THE TWENTY-FIRST CENTURY. 0 0 34587535 13624127 24380375 COLLEGIATE INSTRUCTION - SFCM IS AN ACCREDITED COLLEGE GRANTING BACHELOR'S AND MASTER'S DEGREES IN MUSIC PERFORMANCE. EXPENSES INCLUDE SALARIES, SCHOLARSHIPS, RECRUITMENT, AND ACADEMIC SUPPORT (LIBRARY, STUDENT SERVICES, ETC.). 457 STUDENTS WERE ENROLLED: 3 ADVANCED CERTIFICATES, 5 ARTIST DIPLOMAS, 231 BACHELORS MUSIC, 4 CERTIFICATES, 177 MASTERS MUSIC, 35 PROFESSIONAL STUDIES CERTIFICATE AND 2 PROFESSIONAL STUDIES DIPLOMAS. 457 STUDENTS RECEIVED SFCM SCHOLARSHIPS. 3609918 276845 3067854 PRE-COLLEGIATE AND ADULT EXTENSION - MUSIC INSTRUCTION FOR 4-18 YEAR OLDS AND CONTINUING EDUCATION FOR ADULTS. INSTRUCTION INCLUDES EARLY CHILDHOOD MUSIC CLASSES, PRIVATE MUSIC INSTRUCTION, AND CLASSES. EXPENSES INCLUDE SALARIES, SCHOLARSHIPS, ADVERTISING, AND SUPPORT. 256 STUDENTS WERE ENROLLED AND 65 STUDENTS RECEIVED SCHOLARSHIPS. 38197453 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 1 1 0 0 0 1 139 0 1 690 1 1 1 1 NL 0 0 0 1 1 1 1 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X KATHRYN WITTENMYER 4157593423 50 OAK STREET SAN FRANCISCO CA 94102 TIMOTHY FOO BOARD CHAIR 10.00 X X 0 0 0 DEEPA PAKIANATHAN VICE CHAIR 1.00 X X 0 0 0 CAMILLA SMITH VICE CHAIR 1.00 X X 0 0 0 KAREN KUBIN SECRETARY 1.00 X X 0 0 0 BARBARA WALKOWSKI TREASURER 1.00 X X 0 0 0 LOCK BINGHAM TRUSTEE 1.00 X 0 0 0 JAN BUCKLEY TRUSTEE 1.00 X 0 0 0 CAROL CASEY TRUSTEE 1.00 X 0 0 0 REBECCA-SEN CHAN TRUSTEE 1.00 X 0 0 0 CHRISTIANE DE BORD TRUSTEE 1.00 X 0 0 0 LISA DELAN TRUSTEE 1.00 X 0 0 0 CAROL DOLL TRUSTEE 1.00 X 0 0 0 JAMES FREEMAN TRUSTEE 1.00 X 0 0 0 JEFFREY J GAO TRUSTEE 1.00 X 0 0 0 GARY GARABEDIAN TRUSTEE 1.00 X 0 0 0 CARL KAUFMAN TRUSTEE 1.00 X 0 0 0 DAVID KREMER TRUSTEE 1.00 X 0 0 0 SUSSAN MARINEAU TRUSTEE 1.00 X 0 0 0 PAYAM MIRRASHIDA TRUSTEE 1.00 X 0 0 0 PHILIP NICOL TRUSTEE 1.00 X 0 0 0 MARY POLAND TRUSTEE 1.00 X 0 0 0 STEPHEN RUBIN TRUSTEE 1.00 X 0 0 0 RESOMARIA SHIM TRUSTEE 1.00 X 0 0 0 MAUREEN O'BRIEN SULLIVAN TRUSTEE 1.00 X 0 0 0 JANE TOM TRUSTEE 1.00 X 0 0 0 MAURICE WERDEGAR TRUSTEE 1.00 X 0 0 0 MICHAEL WHITMAN TRUSTEE 1.00 X 0 0 0 DIANE ZACK TRUSTEE 1.00 X 0 0 0 SIWEI ZOU TRUSTEE 1.00 X 0 0 0 DAVID STULL PRESIDENT 40.00 X 650552 0 265947 KATHRYN WITTENMYER VP OF FINANCE AND ADMIN 40.00 X 227693 0 35784 JONAS WRIGHT DEAN 40.00 X 213126 0 10815 KATHLEEN NICELY VICE PRESIDENT OF ADVANCEMENT 40.00 X 416358 0 34798 CESAR ULLOA COLLEGIATE FACULTY 40.00 X 233507 0 20600 YOSHIKAZU NAGAI COLLEGIATE FACULTY 40.00 X 230357 0 24647 SIMON JAMES COLLEGIATE FACULTY 40.00 X 229809 0 36327 ELIZABETH GIUDICESSI VP OF ADMISSION, MARKETING AND PR 40.00 X 202653 0 0 2404055 0 428918 50 0 1 0 PANKOW 1111 BROADWAY SUITE 200 OAKLAND CA 94607 CONSTRUCTION SERVICES 14059054 EDGEWOOD BUILDERS INC 101 VAN NESS AVE SUITE 101 1203 SAN FRANCISCO CA 94102 CONSTRUCTION SERVICES 1237843 CORPORATE SECURITY SERVICES 5 THIRD ST SUITE 314 SAN FRANCISCO CA 94103 SECURITY SERVICES 1035055 TERRA NOVA INDUSTRIES 1607 TICE VALLEY BLVD WALNUT CREEK CA 94595 CONSTRUCTION SERVICES 806304 MARK CAVAGNERO ASSOCIATES 1045 SANSOME ST 200 SAN FRANCISCO CA 94111 ARCHITECTURAL SERVICES 608775 14 1200026 5560645 19325598 2609633 26086269 TUITION AND FEES 611310 25378462 25378462 OTHER EDUCATIONAL 611710 2069767 2069767 27448229 2858376 2510 2855866 5923864 2930900 2992964 2992964 2992964 9694819 9229339 465480 465480 465480 137325 1200026 635611 -498286 -498286 8273 18617 -10344 -10344 SVS IN RELATION TO RENTAL 711130 4570 4570 4570 59347258 27448229 2510 5810250 13900972 13900972 1336914 951032 385882 17268030 12808088 3153596 1306346 448655 275521 136632 36502 1454450 850940 489281 114229 1193654 887699 224732 81223 167666 2218 156363 9085 156148 156148 59220 59220 242055 242055 2770058 1043642 1653644 72772 162040 70604 84250 7186 1047049 418721 579899 48429 639094 272107 286743 80244 1517751 428488 1085147 4116 437252 220390 137093 79769 42213 29076 12885 252 3933480 2617081 1316399 4950697 2580367 2370330 CATERING 1751847 1655454 43279 53114 MEMBERSHIP & SUBSCRIPTI 149830 104802 32160 12868 LOSS ON ASSET DISPOSAL 97544 97544 303372 31283 262171 9918 54029991 38197453 13471383 2361155 4384604 2128848 25458759 21188060 1697931 1503486 589044 0 505298 368148 278211055 30316208 238903107 247894847 66048239 57318547 4224671 1927692 341811653 332329628 6073621 1686521 2865766 2157722 93995391 95643490 2300000 2750000 5186867 3656977 110421645 105894710 X 173966123 175253048 57423885 51181870 231390008 226434918 341811653 332329628 X 5317267 -11863613 1591256 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 6903931 X 0 55862000 3396000 -7251000 2510000 49497000 43498000 3855000 11757000 3248000 55862000 43277000 2422000 312000 2513000 43498000 42871000 1019000 1966000 2579000 43277000 41260000 968000 3154000 2511000 42871000 0.00162 0.99838 0.00000 0 0 23253041 23253041 234047482 22120141 211927341 11202336 5863258 5339078 9708196 2332809 7375387 247894847 ACCUMULATED POST-RETIREMENT BENEFIT OBLIGATION 3282763 LIBRARY DEPOSITS 134061 457(B) DEFERRED COMPENSATION OBLIGATION 240153 3656977 X 38790830 -11863613 -12035888 -23899501 62690331 242055 -3585128 -3343073 59347258 43745920 3585128 3585128 40160792 242055 13627144 13869199 54029991 PART III, LINE 4: SAN FRANCISCO CONSERVATORY OF MUSIC MAINTAINS COLLECTIONS OF MUSICAL INSTRUMENTS. THE INSTRUMENTS ARE USED IN MUSIC CLASS INSTRUCTIONS AND PERFORMANCES AT THE ORGANIZATION. PART V, LINE 4: THE CONSERVATORY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. PART X, LINE 2: SFCM OPERATES AS A NOT-FOR-PROFIT CORPORATION AND IS EXEMPT FROM INCOME TAXES ON RELATED INCOME UNDER PROVISIONS OF THE U.S. INTERNAL REVENUE CODE, SECTION 501(C)(3) AND THE CALIFORNIA TAX CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THESE FINANCIAL STATEMENTS. AS OF JUNE 30, 2022, MANAGEMENT EVALUATED SFCMS TAX POSITIONS AND CONCLUDED THAT SFCM HAD MAINTAINED ITS TAX-EXEMPT STATUS AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. MOTHERSHIP IS TAXED ON ITS INCOME AND THE INCOME OF ITS SINGLE MEMBER LLCS. MOTHERSHIP WOULD RECOGNIZE ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY, AS PART OF THE INCOME TAX PROVISION. MANAGEMENT BELIEVES THERE ARE NO UNCERTAIN INCOME TAX POSITIONS. DEFERRED TAX LIABILITIES AND ASSETS ARE DETERMINED BASED ON THE DIFFERENCE BETWEEN THE FINANCIAL STATEMENT AND TAX BASIS OF ITS ASSETS AND LIABILITIES USING ENACTED TAX RATES. DEFERRED ASSETS ARE REDUCED BY A VALUATION ALLOWANCE IF IT IS MORE LIKELY THAN NOT THAT SOME PORTION OR ALL OF THE DEFERRED TAX ASSETS WILL NOT BE REALIZED. DEFERRED TAXES ARE NOT MATERIAL AT JUNE 30, 2022. MOTHERSHIP IS TAXABLE IN CERTAIN LOCAL TAX JURISDICTIONS. HQMPC FORMS A FISCAL UNITY WITH ITS SUBSIDIARY PENTATONE FOR CORPORATE INCOME TAX PURPOSES AND IS TAXED ON ITS INCOME. DEFERRED TAX LIABILITIES AND ASSETS ARE ALSO DETERMINED BASED UPON THE DIFFERENCE BETWEEN THE FINANCIAL STATEMENT AND TAX BASIS OF ITS ASSETS AND LIABILITIES USING APPLICABLE TAX RATES. DEFERRED ASSETS ARE ONLY VALUED IF REALIZATION IS LIKELY. THE CUMULATIVE LOSSES AS OF JUNE 30, 2022 AMOUNT TO $4,791,000 (EUR 4,571,430). CURRENT LEGISLATION ALLOWS LOSSES TO BE OFFSET AGAINST INCOME INDEFINITELY, BUT THERE ARE LIMITS TO THE OFFSET AMOUNTS PER YEAR. LOSSES MAY BE OFFSET AGAINST PROFIT UP TO AN AMOUNT OF $1,048,000 (EUR 1 MILLION), AND LOSSES ABOVE $1,048,000 (EUR 1 MILLION) MAY BE OFFSET AGAINST 50% OF THE REMAINING TAXABLE PROFIT OF THE TAX YEAR. THE LOSSES TO BE SETTLED ARE NOT YET VALUED DUE TO THE UNCERTAINTY OF FUTURE TAXABLE PROFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST REVENUE -13,529,600. POSTRETIREMENT MEDICAL BENEFIT PLAN OBLIGATION 1,591,256. LOSS ON ASSET DISPOSAL -97,544. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST REVENUE -2,930,900. FUNDRAISING EVENTS NETTED AGAINST REVENUE -635,611. COST OF GOODS SOLD NETTED AGAINST REVENUE -18,617. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENTS NETTED AGAINST REVENUE 635,611. COST OF GOODS SOLD NETTED AGAINST REVENUE 18,617. RENTAL EXPENSES NETTED AGAINST REVENUE 2,930,900. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED AGAINST REVENUE 13,529,600. LOSS ON ASSET DISPOSAL 97,544. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SFCM PUBLISHED ITS RACIALLY NONDISCRIMINATORY POLICY ON THE SCHOOL WEBSITE. SCHEDULE E, PART I, LINE 6 THE SAN FRANCISCO CONSERVATORY OF MUSIC MANAGES AN EXTENSIVE FINANCIAL ASSISTANCE PROGRAM TO ENSURE THAT A HIGHLY QUALIFIED AND DIVERSE POPULATION ATTENDS AND GRADUATES FROM THE CONSERVATORY. THE CONSERVATORY RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENT GRANT AND LOAN PROGRAMS, INCLUDING PELL, SEOG, CWSP, PERKINS, AND FFEL. THE CONSERVATORY ALSO RECEIVES GRANTS FROM THE SAN FRANCISCO GRANTS FOR THE ARTS, HIGHER EDUCATION EMERGENCY RELIEF FUND, AND EMPLOYEE RETENTION CREDIT UNDER CARES ACT. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 0 PROGRAM SERVICES SENDING ORGANIZATION REPRESENTATIVES TO PERFORM, ATTEND AND SPEAK AT SEMINARS AND CONFERENCES; RECRUITING. 3505 EUROPE (INCLUDING ICELAND & GREENLAND) 1 9 PROGRAM SERVICES SENDING ORGANIZATION REPRESENTATIVES TO PERFORM, ATTEND AND SPEAK AT SEMINARS AND CONFERENCES; RECRUITING. 11762 NORTH AMERICA 0 0 PROGRAM SERVICES SENDING ORGANIZATION REPRESENTATIVES TO PERFORM, ATTEND AND SPEAK AT SEMINARS AND CONFERENCES; RECRUITING. 421 1 9 0 0 1 9 15688 0 15688 0 0 0 0 1 0 PART III ACCOUNTING METHOD: X X X X X X X 1 GRENZEBACH GLIER & ASSOCIATES PO BOX 775324 CHICAGO IL 60677 FUNDRAISING CONSULTING 0 0 59220 -59220 59220 -59220 CA GALA 1287021 1196196 90825 136273 249809 134803 OPUS 3 NY CITY TRIP 50330 3830 46500 39228 58144 17354 1337351 1200026 137325 175501 307953 152157 635611 -498286 1 COLLEGIATE TUITION SCHOLARSHIPS 461 13192886 COLLEGIATE SCHOLARSHIPS - NON TUITION 265 413064 COLLEGIATE PROFESSIONAL DEVELOPMENT GRANTS 49 18677 PRE-COLLEGIATE TUITION SCHOLARSHIPS 65 276345 PART I, LINE 2: A LIST OF RECIPIENTS OF SCHOLARSHIPS AND FELLOWSHIPS IS ON FILE AT THE INSTITUTION AND IS AVAILABLE ON REQUEST. ALTHOUGH THERE MAY BE RECIPIENTS WHO ARE RELATED TO PERSONS HAVING AN INTEREST IN THE INSTITUTION, SUCH RECIPIENTS ARE SELECTED ON AN EQUAL, OBJECTIVELY DETERMINABLE BASIS WITH OTHER RECIPIENTS. THAT IS, ALL STUDENTS RECEIVING SCHOLARSHIPS AND FELLOWSHIPS ARE JUDGED WORTHY BY THE INSTITUTION'S ASSESSMENT ON THE BASIS OF ACADEMIC AND MUSIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR STANDARDS. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 DAVID STULL PRESIDENT 650000 0 0 0 552 0 64375 0 201572 0 916499 0 0 0 KATHLEEN NICELY VICE PRESIDENT OF ADVANCEMENT 265806 0 150000 0 552 0 21000 0 13798 0 451156 0 0 0 SIMON JAMES COLLEGIATE FACULTY 228423 0 0 0 1386 0 6157 0 30170 0 266136 0 0 0 KATHRYN WITTENMYER VP OF FINANCE AND ADMIN 224950 0 0 0 2743 0 12000 0 23784 0 263477 0 0 0 YOSHIKAZU NAGAI COLLEGIATE FACULTY 229860 0 0 0 497 0 11644 0 13003 0 255004 0 0 0 CESAR ULLOA COLLEGIATE FACULTY 195479 0 0 0 38028 0 9597 0 11003 0 254107 0 0 0 JONAS WRIGHT DEAN 212856 0 0 0 270 0 10625 0 190 0 223941 0 0 0 ELIZABETH GIUDICESSI VP OF ADMISSION, MARKETING AND PR 202500 0 0 0 153 0 0 0 0 0 202653 0 0 0 PART I, LINE 1A DAVID STULL, PRESIDENT, IS REQUIRED TO LIVE IN SFCM-PROVIDED HOUSING FOR THE CONVENIENCE OF SFCM, WHICH WAS TREATED AS A NON-TAXABLE BENEFIT. CESAR ULLOA, COLLEGIATE FACULTY, RECEIVED HOUSING AND TAX GROSS-UP PAYMENTS. THIS BENEFIT IS INCLUDED AS TAXABLE COMPENSATION. PART I, LINE 4B DAVID STULL, PRESIDENT, PARTICIPATED IN 457(F) PLAN. A CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY 352273601 2018-06-28 100000000 CONSTRUCTION OF STUDENT RESIDENCE, EDUCATIONAL AND PERFORMANCE FACILITY 0 0 0 A 100000000 4125000 95875000 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 0 0 0 1 A 0 JESSICA DOWNS FAMILY MEMBER OF DAVID STULL, PRESIDENT 60750 THE SAN FRANCISCO CONSERVATORY OF MUSIC (SFCM) HIRED A FAMILY MEMBER OF DAVID STULL, PRESIDENT, AS A PART-TIME EMPLOYEE TO PROVIDE MANAGEMENT AND COORDINATION SERVICES FOR A BI-ANNUAL EVENT SPONSORED BY SFCM. IN ADDITION, SHE MANAGES A NEW PROGRAM TO PROVIDE MUSIC CRITIQUE SUPPORT TO VARIOUS NEWSPAPERS IN THE U.S. AND ONE IN CANADA. 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 1179064 PROJECT MANAGEMENT SERVICES WERE PROVIDED TO THE ORGANIZATION BY THE SUBSTANTIAL CONTRIBUTOR. 0 SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 159824 ARCHITECTUAL SERVICES WERE PROVIDED TO THE ORGANIZATION BY THE SUBSTANTIAL CONTRIBUTOR. 0 X 13 1536308 FAIR MARKET VALUE X 1 951000 FAIR MARKET VALUE X MUSICAL EQUIPMENT 4 122325 FAIR MARKET VALUE 1 0 1 0 PART I, COLUMN (B): THIS COLUMN REPRESENTS THE NUMBER OF ITEMS DONATED. FORM 990, PART VI, SECTION B, LINE 11B THE CONSERVATORY'S ACCOUNTING FIRM PREPARED THE FORM 990 WITH THE ASSISTANCE OF THE V.P. FINANCE. UPON ITS COMPLETION, IT WAS FORWARDED TO THE BOARD CHAIR, TREASURER, PRESIDENT, AND CHAIR OF THE AUDIT COMMITTEE FOR REVIEW PRIOR TO FILING THE FORM 990. THE ACCOUNTING FIRM PRESENTED THE FORM 990 TO THE BOARD CHAIR, PRESIDENT, CHAIR OF THE AUDIT COMMITTEE, AND V.P. FINANCE. AFTER IT WAS REVIEWED BY THE INDIVIDUALS NOTED ABOVE, ALL VOTING MEMBERS OF THE BOARD WERE NOTIFIED THAT THE FORM 990 WAS COMPLETED AND THEY WERE ENCOURAGED TO REVIEW THE FORM 990 AND FORWARD THEIR QUESTIONS TO THE V.P. FINANCE. AFTER THE STATED REVIEW PERIOD, THE FORM 990 WAS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONSERVATORY'S CONFLICT OF INTEREST POLICY COVERS TRUSTEES, STAFF AND FACULTY. THE POLICY DEFINES POTENTIAL CONFLICTS OF INTEREST TO INCLUDE, BUT ARE NOT LIMITED TO: FINANCIAL INTEREST; ACCEPTANCE OF GIFTS (EXCEPT FOR THOSE OF NOMINAL VALUE); DISCLOSURE OR USE OF CONFIDENTIAL INFORMATION; POSSIBLY OUTSIDE EMPLOYMENT (FOR EMPLOYEES). THE CONSERVATORY DOES RELY ON SELF-IDENTIFICATION REGARDING POTENTIAL CONFLICTS OF INTEREST. EACH MEMBER OF THE BOARD SIGNS A STATEMENT THAT THEY: 1) RECEIVED A COPY OF THE POLICY; 2) HAVE READ AND UNDERSTAND THE POLICY; 3) AGREE TO COMPLY WITH THE POLICY; 4) UNDERSTAND THAT THE POLICY APPLIES TO ALL COMMITTEES AND SUBCOMMITTEES. IN ADDITION, THEY STATE ANY CONFLICTS AND/OR ATTEST TO NONE. IF A CONFLICT OR POTENTIAL CONFLICT OF INTEREST IS FOUND FOR A TRUSTEE, HE/SHE WILL NOT BE COUNTED TOWARD A QUORUM AT ANY MEETING WHERE THE CONFLICT IS DISCUSSED, AND WILL NOT BE ALLOWED TO VOTE ON ANY ACTION REGARDING THE ISSUE. IN THE EVENT THAT A TRUSTEE (OR FAMILY MEMBER) HAS A MATERIAL FINANCIAL INTEREST IN AN ACTUAL OR CONTEMPLATED TRANSACTION, THE BOARD SHALL REQUIRE DISCLOSURE OF SUCH FINANCIAL INTEREST AND ALL MATERIAL FACTS RELATING THERETO. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES HAS AUTHORIZED THE EXECUTIVE COMMITTEE OF THE BOARD TO DETERMINE ANNUAL COMPENSATION FOR TOP MANAGEMENT. ANNUALLY, THE ASSOC. V.P. OF HR GATHERS COMPARATIVE SALARY DATA FROM AVAILABLE SOURCES AND PRESENTS THE DATA ALONG WITH PROPOSED SALARIES. THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES SALARIES. THE REVIEW PROCESS AND VOTE IS RECORDED IN THE MINUTES OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF TIME SET FORTH IN SEC. 6104(D). ADDITIONALLY, THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: POSTRETIREMENT MEDICAL BENEFIT PLAN OBLIGATION 1,591,256. 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