2022-05-27T04:30:48-05:00 2021-07-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2020-08-01 261447714 GRAMMY MUSEUM FOUNDATION INC GRAM 2137656800 888 SOUTH FIGUEROA STREET NO 600 LOS ANGELES CA 90017 MICHAEL STICKA PRESIDENT / CEO 2137656800 2022-04-29 1 MICHAEL STICKA 999009999 JESSICA KARANTONIS P00969387 7144367100 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHAEL STICKA 888 SOUTH FIGUEROA STREET NO 600 LOS ANGELES CA 90017 13606228 0 X WWW.GRAMMYMUSEUM.ORG X 2007 CA THE GRAMMY MUSEUM CELEBRATES THE LEGACY OF MUSIC, THE RECORDING PROCESS, AND THE GRAMMY AWARDS. 28 28 54 24 0 0 10034649 7254991 3422576 1826029 148417 540312 453066 136144 14058708 9757476 276000 379258 0 0 6273421 4870974 0 0 823135 9833027 6456803 16382448 11707035 -2323740 -1949559 20528171 19726049 8920430 9823515 11607741 9902534 X THE GRAMMY MUSEUM EXPLORES AND CELEBRATES THE ENDURING LEGACIES OF ALL FORMS OF MUSIC, THE CREATIVE PROCESS, THE ART AND TECHNOLOGY OF THE RECORDING PROCESS, AND THE HISTORY OF THE GRAMMY AWARDS, THE PREMIER RECOGNITION OF RECORDED MUSIC ACCOMPLISHMENT. 0 0 5357831 174666 GENERAL ADMISSIONS: MAINTAINING AND OPERATING THE GRAMMY MUSEUM TO PROVIDE A ONE-OF-A-KIND EXPERIENCE FOR THE PUBLIC THAT PROMOTES THE CREATIVE PROCESS, THE HISTORY OF MUSIC AND THE GRAMMY AWARDS, AS WELL AS CULTURAL UNDERSTANDING. 750641 1051625 CURATORIAL SERVICES: SERVICES PROVIDED ON SETTING UP AND MAINTAINING TRAVELING EXHIBITS, WHICH WERE CONSTRUCTED FOR THE GRAMMY MUSEUM DURING THE YEAR OR A PRIOR PERIOD, AND THEN TRANSPORTED TO AND SET-UP TEMPORARILY IN ANOTHER MUSEUM-TYPE LOCATION. SERVICES ALSO PROVIDED IN ASSISTING THIRD PARTIES IN PROMOTING MUSIC EDUCATION AND DEVELOPMENT OUTSIDE THE GRAMMY MUSEUM'S LOCATION IN LOS ANGELES, CALIFORNIA. 2798171 379258 782520 PUBLIC PROGRAMS AND EDUCATION: THE GRAMMY MUSEUM HOSTS A WIDE RANGE OF PUBLIC PROGRAMS IN THE MUSEUM'S SOUND STAGE THEATRE AND THROUGHOUT THE LA LIVE CAMPUS, WHERE THE GRAMMY MUSEUM IS LOCATED AS WELL AS VIRTUAL PROGRAMS. PROGRAMS INCLUDE ARTISTS INTERVIEWS, LIVE PERFORMANCES, FILM SERIES, LECTURES, ARTIST-IN-RESIDENCE PROGRAMS, CONTINUING EDUCATION CLASSES, TOWN HALL MEETINGS, SPECIAL CONCERT SERIES, RECORD LABEL SHOWCASES, AND CURATORIAL-RELATED PROGRAMS. ALL PROGRAMS ARE RECORDED FOR ARCHIVAL PURPOSES TO SHARE WITH THE PUBLIC. THE GOAL OF THE GRAMMY MUSEUM'S EDUCATION PROGRAM IS TO EDUCATE AND INSPIRE, THROUGH EXPOSURE TO ALL MUSIC AND THE CREATIVE PROCESS, ALL VISITORS BUT MOST SPECIFICALLY SCHOOL GROUPS AND FAMILIES. THE PROGRAMS INCLUDE TEACHER WORKSHOPS, MUSEUM TOURS, SEMINARS, SYMPOSIA, MASTER MUSIC CLASSES, MENTORING PROGRAMS, MUSIC FORUMS, SCHOOL OUTREACH AND MUSICAL DEMONSTRATIONS, CAMPS, AND SATURDAY FAMILY PROGRAMS. 8906643 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 1 1 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 96 0 1 54 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 28 28 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X HILARY FAHLSING 3105818624 888 SOUTH FIGUEROA STREET SUITE 600 LOS ANGELES CA 90017 ROBERT SANTELLI FOUNDING EXECUTIVE DIRECTOR 40.00 0.00 X 393416 0 34381 RITA GEORGE CHIEF OPERATIONS OFFICER 40.00 0.00 X 305160 0 22720 MICHAEL STICKA PRESIDENT / CEO 40.00 0.00 X 297342 0 22977 DAVID SEARS EXECUTIVE EDUCATION DIRECTOR 40.00 0.00 X 189661 0 26796 LYNNE OKIN DIRECTOR, PUBLIC PROGRAMS 40.00 0.00 X 155820 0 37679 JOHN MORRISON DIRECTOR OF DEVELOPMENT 40.00 0.00 X 156353 0 23253 HILARY FAHLSING VP, FINANCE & ADMINISTRATION 40.00 0.00 X 135733 0 38378 NICHOLAS VEGA DIRECTOR OF EXHIBITIONS / CURATOR 40.00 0.00 X 142635 0 5011 JOHN BURK VICE CHAIR 0.20 0.00 X X 0 0 0 MICHAL KATZ TREASURER / SECRETARY 0.20 0.00 X X 0 0 0 TED FIKRE ASSISTANT SECRETARY (THRU JUNE 2021) 0.20 0.00 X X 0 0 0 TIM BUCHER CHAIR 0.20 0.00 X X 0 0 0 ANDRA LIEMANDT BOARD MEMBER 0.20 0.00 X 0 0 0 BRANDEN CHAPMAN BOARD MEMBER 0.20 0.00 X 0 0 0 BRENDA ROBINSON BOARD MEMBER (SINCE DEC 2020) 0.20 0.00 X 0 0 0 BRIAN HOESTEREY BOARD MEMBER 0.20 0.00 X 0 0 0 BRIAN SHETH BOARD MEMBER 0.20 0.00 X 0 0 0 CAROLYN POWERS BOARD MEMBER 0.20 0.00 X 0 0 0 CHARLES ORTNER BOARD MEMBER 0.20 0.00 X 0 0 0 DAN BECKERMAN BOARD MEMBER 0.20 0.00 X 0 0 0 DAVID WEBSTER BOARD MEMBER (SINCE DEC 2020) 0.20 0.00 X 0 0 0 DAVID WU BOARD MEMBER (SINCE DEC 2020) 0.20 0.00 X 0 0 0 GISELLE FERNANDEZ BOARD MEMBER 0.20 0.00 X 0 0 0 HARVEY MASON JR BOARD MEMBER 0.20 0.00 X 0 0 0 JAMES JIMMY JAM HARRIS BOARD MEMBER 0.20 0.00 X 0 0 0 JAY MARCIANO BOARD MEMBER (THRU JUNE 2021) 0.20 0.00 X 0 0 0 JOEL KATZ BOARD MEMBER 0.20 0.00 X 0 0 0 JOHN BRANCA BOARD MEMBER 0.20 0.00 X 0 0 0 JON HARRIS BOARD MEMBER (SINCE DEC 2020) 0.20 0.00 X 0 0 0 KEN EHRLICH BOARD MEMBER 0.20 0.00 X 0 0 0 LINDA DUNCOMBE BOARD MEMBER (SINCE JUNE 2021) 0.20 0.00 X 0 0 0 MATTIE MCFADDEN-LAWSON BOARD MEMBER 0.20 0.00 X 0 0 0 PAMELA ALEXANDER BOARD MEMBER 0.20 0.00 X 0 0 0 RAY SILVA BOARD MEMBER (SINCE JUNE 2021) 0.20 0.00 X 0 0 0 TAMMY HURT BOARD MEMBER (SINCE MAY 2021) 0.20 0.00 X 0 0 0 TERRY LICKONA BOARD MEMBER 0.20 0.00 X 0 0 0 TODD GOLDSTEIN BOARD MEMBER 0.20 0.00 X 0 0 0 TRACI BLACKWELL BOARD MEMBER (SINCE DEC 2020) 0.20 0.00 X 0 0 0 1776120 0 211195 12 0 1 0 DELOITTE & TOUCHE LLP 555 W 5TH STREET SUITE 2700 LOS ANGELES CA 90013 ACCOUNTING SERVICES 104100 1 147398 1041580 6066013 57830 7254991 CURATORIAL SERVICES 900099 1051625 1051625 EDUCATION REVENUE 900099 571170 571170 GENERAL ADMISSIONS 900099 134999 134999 PUBLIC PROGRAMS 900099 68235 68235 1826029 226137 226137 45600 92238 -46638 -46638 -46638 4043207 3729032 314175 314175 314175 53530 27482 26048 26048 OTHER INCOME 900099 156734 156734 156734 9757476 2008811 0 493674 312758 312758 26500 26500 40000 40000 1875207 1113810 591665 169732 2995767 2385379 401198 209190 75549 38683 33781 3085 105322 105322 331398 301911 13567 15920 218414 215483 2931 380387 260823 61620 57944 387452 253737 16568 117147 2038079 1569266 468813 27677 26044 1488 145 246802 52692 66312 127798 1143023 1058203 47122 37698 195411 66585 128721 105 REPAIR & MAINTENANCE 686949 679791 6042 1116 EXHIBIT & COLLECTION 437786 437786 BANK SERVICE CHARGES 32669 32669 SPONSORSHIP FULFILLMENT 23385 23385 126500 67192 2369 56939 11707035 8906643 1977257 823135 2160780 3267862 808562 378128 544942 946643 48162 41717 94702 101952 23940615 17356821 7693946 6583794 5082183 4311059 4094894 4094894 20528171 19726049 126985 106402 972537 2240979 7820908 7476134 8920430 9823515 X 5279963 4767248 6327778 5135286 11607741 9902534 20528171 19726049 -1949559 216952 27400 0 X 0 1 X 1 0 X 17589903 8155589 9870921 10034649 7244045 52895107 17589903 8155589 9870921 10034649 7244045 52895107 18114508 34780599 722440 610142 768269 568736 271737 2941324 143243 90746 286687 182108 156734 859518 56695949 24529087 0.61350 0.62860 X PART II, SHORT YEAR EXPLANATION: THE MUSEUM CHANGED FROM A CALENDAR YEAR-END TO JULY 31 FISCAL YEAR-END DURING 2017. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3775147 X X 0 5211136 756711 1496000 32669 4439178 5624170 167608 540001 40641 5211136 5770725 156618 260820 42353 5624170 125037 5316056 378977 49345 5770725 125037 125037 1.00000 0 0 13447419 8432054 5015365 10493196 8924767 1568429 6583794 MEMORIBILIA 3775147 EXECUTIVE COMPENSATION PROGRAM ASSET 319747 4094894 AFFILIATE AND RELATED-PARTY PAYABLES 2950708 EXECUTIVE COMPENSATION PROGRAM 319747 DEFERRED RENT 2445507 ACCRUED LIABILITIES 823617 PAYCHECK PROTECTION PROGRAM LOAN 936555 7476134 X 10121548 216952 27400 119720 364072 9757476 0 9757476 11826755 119720 119720 11707035 0 11707035 PART III, LINE 1A: ALL MEMORABILIA AND EXHIBITS ARE PRESENTED ON THE BALANCE SHEET. PART III, LINE 4: THE GRAMMY MUSEUM BOASTS FOUR FLOORS OF EXHIBIT SPACE THAT OFFER VISITORS ONE-OF-A-KIND EXPERIENCE THROUGH CONTENT-RICH INTERACTIVES, FILMS, OVERSIZE IMAGERY, ARTIFACTS, THE GRAMMY ARCHIVES AND HALL OF FAME. THE MUSEUM ALSO HAS A SOUND STAGE/THEATRE WHERE IT OFFERS OPPORTUNITIES FOR VISITORS TO MEET MUSIC ARTISTS FROM A BROAD RANGE OF GENRES AND ERAS. THE VISITORS WILL ALSO HAVE AN OPPORTUNITY TO LEARN ABOUT THE ART AND TECHNOLOGY OF THE RECORDING PROCESS THROUGH AN ARRAY OF EXHIBITS AND INTERACTIVE EXPERIENCES. THE MUSEUM ALSO HAS SPECIAL EXHIBITS THAT FEATURE CERTAIN ARTISTS SUCH AS THE BEATLES, FRANK SINATRA, BOB MARLEY, JOHN LEE HOOKER AND LEONARD BERNSTEIN. PART V, LINE 4: INVESTMENT FUND SET UP BY FOUNDATION IN WHICH REGULAR WITHDRAWALS FROM THE INVESTED CAPITAL ARE TO BE USED FOR ONGOING OPERATIONS AND OTHER SPECIFIED PURPOSES AS DETERMINED BY THE MUSEUM. PART X, LINE 2: THE MUSEUM IS INCORPORATED AS A NONPROFIT PUBLIC CHARITY PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3) AND CORRESPONDING STATE PROVISIONS. THE MUSEUM IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE MUSEUM ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES. FASB ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ENTITY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE ENTITY HAS TAKEN, OR EXPECTS TO TAKE, ON A TAX RETURN. DURING THE YEARS ENDED JULY 31, 2021 AND 2020, THE MUSEUM DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. AS OF JULY 31, 2021 AND 2020, TAX YEARS 2016 AND FORWARD ARE SUBJEXT TO EXAMINATION. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVENTORY COST OF GOODS SOLD 27,482. RENTAL EXPENSE 92,238. PART XII, LINE 2D - OTHER ADJUSTMENTS: INVENTORY COST OF GOODS SOLD 27,482. RENTAL EXPENSE 92,238. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 PROGRAM SERVICES CURATORIAL SERVICES 355551 NORTH AMERICA 0 GRANT-MAKING 40000 0 0 0 0 0 0 395551 0 395551 NORTH AMERICA MUSIC PRESERVATION IMPLEMENTATION GRANT 20000 CHECK NORTH AMERICA SCIENTIFIC RESEARCH GRANT 20000 CHECK 2 0 0 0 0 0 0 PART I, LINE 2: GRANT RECIPIENTS ARE REQUIRED TO PROVIDE A FINAL NARRATIVE REPORT INDICATING HOW THE FUNDS WERE SPENT. PART I, LINE 3: DIRECT EXPENSES PART III ACCOUNTING METHOD: 1 APOLLO THEATER FOUNDATION 253 WEST 125TH ST NEW YORK NY 10027 133630066 501(C)(3) 20000 MUSIC PRESERVATION IMPLEMENTATION GRANT ARHOOLIE FOUNDATION 10341 SAN PABLO AVE EL CERRITO CA 94530 680351651 501(C)(3) 20000 MUSIC PRESERVATION IMPLEMENTATION GRANT BERKELEY SOCIETY FOR THE PRESERVATION OF TRADITIONAL MUSIC 2020 ADDISON ST BERKELEY CA 94704 942887073 501(C)(3) 20000 MUSIC PRESERVATION IMPLEMENTATION GRANT COUNTRY MUSIC FOUNDATION INC 222 REP JOHN LEWIS WAY S NASHVILLE TN 37203 620753887 501(C)(3) 20000 MUSIC PRESERVATION IMPLEMENTATION GRANT REGENTS OF THE UNIVERSITY OF CALIFORNIA 10889 WILSHIRE BLVD STE 700 BOX 951406 LOS ANGELES CA 90095 956006143 GOVERNMENT ENTITY 40000 MUSIC PRESERVATION IMPLEMENTATION & SCIENTIFIC RESEARCH GRANTS TEMPLE UNIVERSITY OF THE COMMON WEALTH SYSTEM OF HIGHER EDUCATION 1852 N 10TH ST PHILADELPHIA PA 19122 231365971 501(C)(3) 20000 SCIENTIFIC RESEARCH GRANT UNIVERSITY OF SOUTH FLORIDA 4202 E FOWLER AVE SVC 1039 TAMPA FL 33620 593102112 GOVERNMENT ENTITY 20000 SCIENTIFIC RESEARCH GRANT UNIVERSITY OF ROCHESTER 518 HYLAN BUILDING ROCHESTER NY 14627 160743209 501(C)(3) 19758 SCIENTIFIC RESEARCH GRANT UNIVERSITY OF TENNESSEE 62 S DUNLAP ST 300 MEMPHIS TN 38163 626001636 GOVERNMENT ENTITY 15000 SCIENTIFIC RESEARCH GRANT UNIVERSITY OF ARKANSAS PO BOX 1404 FAYETTEVILLE AR 72702 716003252 GOVERNMENT ENTITY 10000 MUSIC EDUCATION - GENERAL USE CHICAGO PUBLIC SCHOOL DISTRICT #299 42 WEST MADISON 2ND FL CHICAGO IL 60602 366005821 GOVERNMENT ENTITY 11000 MUSIC EDUCATION - GENERAL USE HOUSTON INDEPENDENT SCHOOL DISTRICT 4400 W 18TH ST HOUSTON TX 77092 746001255 GOVERNMENT ENTITY 5500 MUSIC EDUCATION - GENERAL USE INSPIRENOLA CHARTER SCHOOLS 5712 S CLAIBORNE AVE NEW ORLEANS LA 70125 460675150 GOVERNMENT ENTITY 5500 MUSIC EDUCATION - GENERAL USE NEW ORLEANS MILITARY & MARITIME ACADEMY INC 425 OBANNON ST NEW ORLEANS LA 70114 270868305 501(C)(3) 5500 MUSIC EDUCATION - GENERAL USE YES PREP PUBLIC SCHOOLS INC 5515 S LOOP EAST SUITE B HOUSTON TX 77033 760563835 GOVERNMENT ENTITY 5500 MUSIC EDUCATION - GENERAL USE AVPA FOUNDATION - CULVER CITY HIGH SCHOOL PO BOX 3530 CULVER CITY CA 90231 203270837 501(C)(3) 7500 MUSIC EDUCATION - GENERAL USE BASSETT HIGH SCHOOL 755 ARDILLA AVE LA PUENTE CA 91746 952161438 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE BLAIR HIGH SCHOOL 1201 S MARENGO AVE PASADENA CA 91106 956002372 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE BURBANK HIGH SCHOOL 1900 W OLIVE AVE BURBANK CA 91506 956000418 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE GLENDALE HIGH SCHOOL 1440 E BROADWAY BLVD GLENDALE CA 91205 950775453 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE HUNTINGTON PARK HIGH SCHOOL 6020 MILES AVE HUNTINGTON PARK CA 90255 956001648 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE JOHN MARSHALL HIGH SCHOOL 428 N ORCHARD DR BURBANK CA 91506 956001908 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE ROBERT FULTON COLLEGE 7477 KESTER AVE VAN NUYS CA 91406 956001908 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE MANUAL ARTS HIGH SCHOOL 4131 S VERMONT AVE LOS ANGELES CA 90037 956001908 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE NORWALK HIGH SCHOOL 11356 LEFFINGWELL RD NORWALK CA 90650 956002228 GOVERNMENT ENTITY 7500 MUSIC EDUCATION - GENERAL USE 25 0 MUSIC EDUCATOR AWARD 25 26500 PART I, LINE 2: AT THE COMPLETION OF THE PROJECT, GRANT RECIPIENTS ARE REQUIRED TO PROVIDE A FINAL NARRATIVE REPORT DETAILING THE PROJECT AND ITS RESULTS AS WELL AS A FINAL BUDGET SHOWING ACTUAL FIGURES AND INDICATING HOW THE MUSEUM'S FUNDS WERE ALLOCATED. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 ROBERT SANTELLI FOUNDING EXECUTIVE DIRECTOR 381808 0 1750 0 9858 0 10250 0 24131 0 427797 0 0 0 RITA GEORGE CHIEF OPERATIONS OFFICER 299168 0 1750 0 4242 0 10250 0 12470 0 327880 0 0 0 MICHAEL STICKA PRESIDENT / CEO 293856 0 0 0 3486 0 9750 0 13227 0 320319 0 0 0 DAVID SEARS EXECUTIVE EDUCATION DIRECTOR 183202 0 1750 0 4709 0 7353 0 19443 0 216457 0 0 0 LYNNE OKIN DIRECTOR, PUBLIC PROGRAMS 153602 0 1750 0 468 0 8248 0 29431 0 193499 0 0 0 JOHN MORRISON DIRECTOR OF DEVELOPMENT 153899 0 1000 0 1454 0 2916 0 20337 0 179606 0 0 0 HILARY FAHLSING VP, FINANCE & ADMINISTRATION 131980 0 1750 0 2003 0 6750 0 31628 0 174111 0 0 0 PART I, LINE 1A GRAMMY MUSEUM FOUNDATION HAS A WRITTEN POLICY REGARDING FIRST-CLASS TRAVEL. THE TRAVEL POLICY STATES THAT THE MOST COST EFFECTIVE OPTIONS AVAILABLE BASED ON THE TRAVELER'S REQUESTED ITINERARY SHOULD BE MADE. THE PRESIDENT MAY BE PERMITTED FIRST-CLASS TRAVEL IF AUTHORIZED BY THE BOARD. THE PRESIDENT IS REQUIRED TO TRAVEL EXTENSIVELY ON MUSEUM BUSINESS, AND PROVIDING FOR FIRST-CLASS TRAVEL IS CONSIDERED A REASONABLE ACCOMMODATION. IT IS NOT TREATED AS TAXABLE COMPENSATION. PART I, LINE 7 CERTAIN EMPLOYEES WERE EACH COMPENSATED WITH CRITERIA BONUSES BASED UPON SPECIFIC PERFORMANCE GOALS ESTABLISHED AND APPROVED BY THE EMPLOYEE AND THEIR DIRECT SUPERVISOR. IN ADDITION, CERTAIN EMPLOYEES WERE EACH COMPENSATED WITH DISCRETIONARY BONUSES SUBJECT TO THE DISCRETION OF THEIR DIRECT SUPERVISOR. NATIONAL ACADEMY OF RECORDING ARTS AND SCIENCES FOUNDER OPERATING EXPENSES X 2436395 2211871 0 1 1 2211871 NATIONAL ACADEMY OF RECORDING ARTS AND SCIENCES FOUNDER 236750 PERFORMANCE OF GENERAL AND ADMINISTRATIVE SERVICES 0 SCH L, PART II NARAS PROVIDES CERTAIN GENERAL AND ADMINISTRATIVE SERVICES TO THE MUSEUM. OPERATING EXPENSES CHARGED TO THE MUSEUM BY NARAS INCLUDE ITEMS, SUCH AS SHARED SALARY EXPENSES, SECURITY, UTILITIES, TAXES AND LICENSES, REPAIR AND MAINTENANCE, OFFICE SUPPLIES, COMPUTER EXPENSES, AND ALLOCATIONS OF GRAMMY.COM EXPENSES. THE EXPENSES ARE ALLOCATED ON THE BASIS OF SQUARE FOOTAGE, NUMBER OF COMPUTERS USED, NUMBER OF ACTIVE WEB PAGES, OR OTHER SUITABLE METHODOLOGIES, WHERE APPROPRIATE. AS OF FISCAL YEAR ENDED JULY 31, 2021, THE OUTSTANDING BALANCE OWED TO NARAS WAS $2,211,871. X AUCTION ITEMS 29 34700 X SIDEWALK PLAQUE 1 13346 X SUBSCRIPTIONS 1 5980 X EQUIPMENT 1 3804 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 HARVEY MASON JR., AN OFFICER OF THE RECORDING ACADEMY, AND JOHN BURK AND TAMMY HURT, TRUSTEES OF THE RECORDING ACADEMY, HAVE AN EMPLOYMENT RELATIONSHIP WITH BRANDEN CHAPMAN, WHO WAS AN EMPLOYEE OF THE RECORDING ACADEMY DURING THE TAX YEAR. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE FORM 990 IS PREPARED, IT IS SUBMITTED TO THE AUDIT COMMITTEE FOR REVIEW. THE BOARD HAS DESIGNATED THE AUDIT COMMITTEE TO REVIEW AND APPROVE THE FILING OF THE TAX RETURN ON ITS BEHALF. AFTER ALL COMMENTS AND QUESTIONS FROM THE AUDIT COMMITTEE HAVE BEEN ADDRESSED AND INCORPORATED, THE AUDIT COMMITTEE APPROVES THE FILING WITH THE IRS. THE FULL BOARD ALSO RECEIVES A COPY OF THE TAX RETURN BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH POWERS DELEGATED BY THE BOARD OF DIRECTORS NEEDS TO SIGN A STATEMENT UPON HIRING OR APPOINTMENT AFFIRMING THAT HE/SHE 1) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, 2) HAS READ AND UNDERSTANDS THE POLICY, 3) HAS AGREED TO COMPLY WITH THE POLICY, AND 4) UNDERSTANDS THAT THE MUSEUM IS A NON-PROFIT ORGANIZATION AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION STATUS, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. PERIODIC REVIEWS ARE CONDUCTED BY THE HUMAN RESOURCES DEPARTMENT FOR EMPLOYEES TO ENSURE COMPLIANCE WITH THE POLICY. COPIES OF THESE FORMS ARE MAINTAINED BY HUMAN RESOURCES IN PERSONNEL FILES. ANNUALLY, THE CORPORATE SECRETARY DISTRIBUTES THE ANNUAL DISCLOSURE STATEMENT AT A BOARD MEETING. THE STATEMENTS ARE COLLECTED BY THE CORPORATE SECRETARY AND THEN A SUMMARY REPORT IS GIVEN TO THE CHAIR OF THE NOMINATING & GOVERNING COMMITTEE. ACCORDINGLY, THE CHAIR OF THE NOMINATING & GOVERNING COMMITTEE IS RESPONSIBLE FOR BOTH MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY BASED ON THE STATEMENTS THAT ARE PROVIDED. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT'S COMPENSATION WAS DETERMINED BY REVIEWING AND COMPARING WITH THE COMPENSATION OF OTHER NON-PROFIT MUSEUM DIRECTORS IN THE GENERAL AREA. BASED UPON THIS COMPARISON AN AMOUNT WAS DETERMINED BY DISCUSSION AND APPROVAL OF SELECTED BOARD MEMBERS OF THE MUSEUM. FORM 990, PART VI, SECTION C, LINE 19 THE MUSEUM'S FORM 990, AUDITED FINANCIAL STATEMENTS, ARTICLES, BYLAWS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. ADDITIONALLY, THE MUSEUM FILES ITS FORM 990 WITH THE CALIFORNIA ATTORNEY GENERAL AND ROUTINELY UPDATES ITS INFORMATION ON THIRD-PARTY PLATFORMS SUCH AS GUIDESTAR, CHARITY NAVIGATOR AND SMU DATAARTS. TANGIBLE PROPERTY ELECTIONS SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION TAXPAYER IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER TREAS. REG. 1.263(A)-1(F) FOR ALL ELIGIBLE AMOUNTS PAID OR INCURRED DURING THE TAXABLE YEAR. SECTION 1.263(A)-3(N) CAPITALIZATION ELECTION TAXPAYER HEREBY ELECTS TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER TREAS. REG. 1.263(A)-3(N). THE COSTS WERE INCURRED DURING THE TAXABLE YEAR IN THE ELECTING TAXPAYER'S TRADE OR BUSINESS AND THE ELECTING TAXPAYER TREATS SUCH COSTS AS CAPITAL EXPENDITURES ON ITS BOOKS AND RECORDS.