2022-04-22T21:54:19-05:00 2021-06-30 135565207 KPMG LLP 550 SOUTH HOPE STREET SUITE 1500 LOS ANGELES CA 90071 990 2020-07-01 952096402 LOS ANGELES OPERA COMPANY LOSA 2139727652 135 NORTH GRAND AVENUE LOS ANGELES CA 90012 KATHLEEN RUIZ CFO 2139727652 2022-04-22 1 KATHLEEN RUIZ XXX-XX-XXXX DAVID M HIGHFILL P01517891 2139724000 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z KATHLEEN RUIZ 135 N GRAND AVENUE LOS ANGELES CA 90012 33798844 0 X LAOPERA.ORG X 1983 CA THE LOS ANGELES OPERA COMPANY (LA OPERA) IS A NON-PROFIT ENTITY. SEE SCHEDULE O ORGANIZED TO PROVIDE AN OPPORTUNITY FOR ALL TO ENJOY THE RICH EMOTIONAL AND CULTURAL EXPERIENCE OF OPERA. 89 85 745 243 33999 30082 26107839 29026680 8338498 0 2922435 1482538 -372973 3055453 36995799 33564671 8000 50000 0 0 24879850 11033027 134796 105375 3183096 16537660 10064069 41560306 21252471 -4564507 12312200 90291254 111413847 18789822 16888957 71501432 94524890 X TO SERVE THE PUBLIC BY PRODUCING WORLD-CLASS OPERA THAT PRESERVES, PROMOTES AND ADVANCES THE ART FORM WHILE EMBODYING THE DIVERSITY, SPIRIT AND ARTISTIC SENSIBILITY UNIQUE TO LOS ANGELES. SEE SCHEDULE O FOR MORE INFORMATIONWE ENVISION AN ENGAGED AND ENLIGHTENED COMMUNITY IN WHICH ALL MEMBERS HAVE THE OPPORTUNITY TO COLLECTIVELY ENJOY THE RICH AESTHETIC, EMOTIONAL, INTELLECTUAL AND CULTURAL EXPERIENCE OF OPERA. 0 1 8325362 0 0 OPERA: THE COMPANY PLANNED 36 OPERA PERFORMANCES FOR THE FISCAL YEAR ENDED JUNE 30, 2021. DUE TO THE ONGOING COVID-19 PANDEMIC AND LOS ANGELES COUNTY HEALTH DEPARTMENT MANDATES, ALL PERFORMANCES WERE CANCELLED. THE COMPANY INCURRED NON-RECOVERABLE CANCELLATION AND POSTPONEMENT COSTS WHICH WERE PARTIALLY OFFSET BY PAYROLL PROTECTION PROGRAM FUNDING. 3829070 0 0 OTHER ARTISTIC PROGRAMS (RECITALS AND OFF GRAND): THE COMPANY PRESENTS OPERA IN A VARIETY OF LOCATIONS IN ORDER TO INCREASE ACCESSIBILITY, EXPAND THE AUDIENCE, AND PROMOTE THE ART FORM. THESE ACTIVITIES INCLUDE OUR "OFF GRAND" PROGRAM AND RECITALS FEATURING WORLD RENOWNED OPERA SINGERS. THE COMPANY HAD SCHEDULED NINE SUCH PERFORMANCES FOR THE FISCAL YEAR ENDED JUNE 30, 2021. THE COMPANY ALSO LAUNCHED A DIGITAL PLATFORM OFR PERFORMANCES WITH MORE THAN 150 PROGRAMS AIRED 7/1-20-6/30/21. DUE TO THE COVID-19 PANDEMIC, ALL IN-PERSON PERFORMANCES WERE CANCELLED. HOWEVER, LOS ANGELES COUNTY DEPARTMENT OF HEALTH RESTRICTIONS BEGAN TO EASE AND THE COMPANY PRESENTED ITS FIRST PUBLIC PERFORMANCE IN OVER A YEAR IN JUNE 2021. SEE SCHEDULE OTHE COMPANY WELCOMED A LIVE AUDIENCE TO THE DOROTHY CHANDLER PAVILION ON JUNE 6TH FOR A FREE CONCERT PERFORMANCE OF STRAVINSKY'S OEDIPUS REX. THE COMPANY INCURRED EXPENSES FOR PAYROLL, COVID COMPLIANCE, AND CONTRACTUAL OBLIGATIONS. 1632728 50000 667109 LA OPERA CONNECTS: THROUGH THIS PROGRAM, LAO OFFERS UNIQUE PROGRAMS, FOR STUDENTS, CHILDREN, FAMILIES, AND SENIOR CITIZENS ACROSS THE LOS ANGELES REGION. LAO CONNECTS SERVED MORE THAN 150,000 STUDENTS AND COMMUNITY MEMBERS THIS FISCAL YEAR THROUGH ITS DIGITAL PLATFORM. DURING THE 20-21 SEASON WE PARTNERED WITH 46 SCHOOLS AND 60 COMMUNITY PARTNERS INCLUDING HEALTHCARE ORGANIZATIONS, LIBRARIES, SENIOR CENTERS, VETERANS' SERVICE GROUPS AND MORE. 500076 0 0 DOMINGO-COLBURN-STEIN YOUNG ARTIST PROGRAMTHE YOUNG ARTIST PROGRAM SEEKS TO SUPPORT AND DEVELOP THE CAREERS OF PROMISING SINGERS AND PIANISTS. THIS RESIDENCY PROGRAM PROVIDES EXTENSIVE TRAINING AND PERFORMANCE EXPERIENCE THROUGH MAIN-STAGE ROLES, COVER ROLES, CONCERTS AND OTHER PRODUCTIONS. DURING THE YEAR, TWELVE ARTISTS WERE GIVEN 46 MAIN-STAGE ASSIGNMENTS (ROLES, COVERS) ANDPERFORMED IN MORE THAN 24 RECITALS THROUGHOUT THE COMMUNITY. 500076 0 0 14287236 1 1 0 0 0 0 0 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 163 0 1 745 1 1 1 0 0 0 0 1 1 0 0 0 0 X 89 85 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X X KATHLEEN RUIZ 2139727652 135 N GRAND AVENUE LOS ANGELES CA 900123013 JAMES CONLON EX.OFF.DIR. SEE SCH. J PT. III 20.00 0.00 X 330833 0 133844 CHRISTOPHER KOELSCH EX.OFFICIO DIR, PRES & CEO 40.00 0.00 X X 381832 0 21175 MARC I STERN CHAIRMAN 10.00 0.00 X X 0 0 0 KEITH R LEONARD CHAIRMAN OF EXEC COMMITTEE 10.00 0.00 X X 0 0 0 BERNARD A GREENBERG VICE CHAIRMAN 5.00 0.00 X X 0 0 0 WARNER W HENRY VICE CHAIRMAN (THRU 8/1/20) 5.00 0.00 X X 0 0 0 SEBASTIAN PAUL MUSCO VICE CHAIRMAN 5.00 0.00 X X 0 0 0 EUGENE P STEIN VICE CHAIRMAN 5.00 0.00 X X 0 0 0 MARILYN ZIERING VICE CHAIRMAN 5.00 0.00 X X 0 0 0 ROBERT RONUS TREASURER 5.00 0.00 X X 0 0 0 MARVIN S SHAPIRO SECRETARY 5.00 0.00 X X 0 0 0 GERALDINE ALDEN PHD DIRECTOR 2.00 0.00 X 0 0 0 PATRICIA N ARTIGAS DIRECTOR 2.00 0.00 X 0 0 0 JAMES R ASPERGER DIRECTOR 2.00 0.00 X 0 0 0 HAIG S BAGERDJIAN DIRECTOR 2.00 0.00 X 0 0 0 PAUL BLOCH DIRECTOR 2.00 0.00 X 0 0 0 ALEX K BOUZARI DIRECTOR (THRU 6/22/21) 2.00 0.00 X 0 0 0 DR IMAN H BRIVANLOU DIRECTOR 2.00 0.00 X 0 0 0 BARBARA BURTIN DIRECTOR 2.00 0.00 X 0 0 0 MARLENE CHAVEZ DIRECTOR 2.00 0.00 X 0 0 0 JOYCE CHERNICK DIRECTOR 2.00 0.00 X 0 0 0 ROBERT T COOK DIRECTOR 2.00 0.00 X 0 0 0 ALEXIS DEUTSCH-ADLER DIRECTOR 2.00 0.00 X 0 0 0 LESLIE A DORMAN DIRECTOR 2.00 0.00 X 0 0 0 GEOFF EMERY DIRECTOR 2.00 0.00 X 0 0 0 PENELOPE FOLEY DIRECTOR 2.00 0.00 X 0 0 0 DON ERIK FRANZEN DIRECTOR 2.00 0.00 X 0 0 0 DR MICHAEL A FRIEDMAN DIRECTOR 2.00 0.00 X 0 0 0 ALEXANDER FURLOTTI DIRECTOR 2.00 0.00 X 0 0 0 CRAIG GARNER DIRECTOR (THRU 6/22/21) 2.00 0.00 X 0 0 0 KIKI RAMOS GINDLER DIRECTOR 2.00 0.00 X 0 0 0 RUTH R GOLD DIRECTOR 2.00 0.00 X 0 0 0 THOMAS GOTTSCHALK DIRECTOR 2.00 0.00 X 0 0 0 DIANE GRAY DIRECTOR 2.00 0.00 X 0 0 0 MONICA GUTIERREZ-ROPER DIRECTOR 2.00 0.00 X 0 0 0 CORNELIA HAAG-MOLKENTELLERPHD DIRECTOR 2.00 0.00 X 0 0 0 HANY HADDAD DIRECTOR (THRU 9/3/20) 2.00 0.00 X 0 0 0 NICOLAS HAMATAKE DIRECTOR 2.00 0.00 X 0 0 0 MARY HAYLEY DIRECTOR 2.00 0.00 X 0 0 0 CATHERINE H HELM DIRECTOR 2.00 0.00 X 0 0 0 CAROL F HENRY DIRECTOR 2.00 0.00 X 0 0 0 MRS JOHN F HOTCHKIS DIRECTOR 2.00 0.00 X 0 0 0 TIM C JOHNSON DIRECTOR 2.00 0.00 X 0 0 0 RICHARD JONES DIRECTOR 2.00 0.00 X 0 0 0 LAWRENCE A KERN DIRECTOR 2.00 0.00 X 0 0 0 THOMAS F KRANZ DIRECTOR 2.00 0.00 X 0 0 0 LAUREN B LEICHTMAN DIRECTOR 2.00 0.00 X 0 0 0 SEAN MADNANI DIRECTOR 2.00 0.00 X 0 0 0 CLAUDE MANN DIRECTOR 2.00 0.00 X 0 0 0 PATTY MCKENNA DIRECTOR 2.00 0.00 X 0 0 0 BRYAN MOELLER DIRECTOR 2.00 0.00 X 0 0 0 JAMES MULALLY DIRECTOR 2.00 0.00 X 0 0 0 GREGORY NAVA DIRECTOR 2.00 0.00 X 0 0 0 DR LESLIE A PAM PHD DIRECTOR 2.00 0.00 X 0 0 0 LINDA PASCOTTO DIRECTOR 2.00 0.00 X 0 0 0 LINDA PIERCE DIRECTOR 2.00 0.00 X 0 0 0 HAROLD B RAY DIRECTOR 2.00 0.00 X 0 0 0 COURTNEY REUM DIRECTOR 2.00 0.00 X 0 0 0 BARRY A SANDERS DIRECTOR 2.00 0.00 X 0 0 0 LIONEL SAUVAGE DIRECTOR 2.00 0.00 X 0 0 0 HEINRICH SCHELBERT DIRECTOR 2.00 0.00 X 0 0 0 R CARLTON SEAVER DIRECTOR 2.00 0.00 X 0 0 0 LISA SEE DIRECTOR 2.00 0.00 X 0 0 0 JOAN SEIDEL DIRECTOR 2.00 0.00 X 0 0 0 LINDA SHAHEEN DIRECTOR 2.00 0.00 X 0 0 0 MARILYN SHAPIRO DIRECTOR 2.00 0.00 X 0 0 0 SUSAN SHAPIRO DIRECTOR 2.00 0.00 X 0 0 0 ERIC L SMALL DIRECTOR 2.00 0.00 X 0 0 0 JAMES THURMOND SMITHGALL DIRECTOR 2.00 0.00 X 0 0 0 DR VINA SPIEHLER DIRECTOR 2.00 0.00 X 0 0 0 DEANIE STEIN DIRECTOR 2.00 0.00 X 0 0 0 DR JAMES H STRAUSS DIRECTOR 2.00 0.00 X 0 0 0 BARBARA AUGUSTA TEICHERT DIRECTOR 2.00 0.00 X 0 0 0 SANDRA TERNER DIRECTOR 2.00 0.00 X 0 0 0 PAUL D TOSETTI DIRECTOR 2.00 0.00 X 0 0 0 BRIGITTA B TROY DIRECTOR 2.00 0.00 X 0 0 0 CHRIS WALKER DIRECTOR 2.00 0.00 X 0 0 0 REGINA WEINGARTEN DIRECTOR 2.00 0.00 X 0 0 0 GEOFFREY P WHARTON DIRECTOR 2.00 0.00 X 0 0 0 ALYCE WILLIAMSON DIRECTOR 2.00 0.00 X 0 0 0 ANDREW XU DIRECTOR 2.00 0.00 X 0 0 0 ZEV YAROSLAVSKY DIRECTOR 2.00 0.00 X 0 0 0 ELLEN ZETCHER DIRECTOR 2.00 0.00 X 0 0 0 ANN ZIFF DIRECTOR 2.00 0.00 X 0 0 0 BEATRICE BENNETT DIRECTOR 2.00 0.00 X 0 0 0 KATHLEEN K EBERHARDT DIRECTOR 2.00 0.00 X 0 0 0 LAUREL HOWAT DIRECTOR (THRU 6/22/21) 2.00 0.00 X 0 0 0 SCOTT R LORD DIRECTOR 2.00 0.00 X 0 0 0 M FAYE WILSON DIRECTOR 2.00 0.00 X 0 0 0 WILLIAM CHASE HODGE-BROKENBURR DIRECTOR (AS OF 12/16/20) 2.00 0.00 X 0 0 0 JANET CIRIELLO DIRECTOR (AS OF 12/16/20) 2.00 0.00 X 0 0 0 SHIRLEY STARKE-WALLACE DIRECTOR (AS OF 12/16/20) 2.00 0.00 X 0 0 0 TODD CALVIN DIRECTOR (AS OF 06/22/21) 2.00 0.00 X 0 0 0 GILLIAN WAGNER DIRECTOR (AS OF 06/22/21) 2.00 0.00 X 0 0 0 JOHN NUCKOLS EXECUTIVE VICE PRESIDENT 40.00 0.00 X 319033 0 5600 RUPERT HEMMINGS V.P., ARTISTIC PLANNING 40.00 0.00 X 213686 0 23083 DIANE RHODES BERGMAN VICE PRESIDENT, MKTG & COMM 40.00 0.00 X 216370 0 10526 CARL M RIES V.P., CFO 40.00 0.00 X 183647 0 3512 STACY C BRIGHTMAN V.P., ED. & COMM. ENGAGEMENT 40.00 0.00 X 160842 0 9601 JOSHUA WINOGRADE SENIOR DIRECTOR, ARTISITC 40.00 0.00 X 187984 0 24599 PATRICIA MCLEOD SR. DIRECTOR DEVELOPMENT 40.00 0.00 X 180323 0 17608 KELLY TRAVIS OPERA HEAD, VIDEO 40.00 0.00 X 142436 0 0 JEFF KLEEMAN TECHNICAL DIRECTOR 40.00 0.00 X 157219 0 18541 CHUL PARK DIRECTOR, TECHNOLOGY SERVICES 40.00 0.00 X 149221 0 16847 2623426 0 284936 20 1 1 1 112 BEVERLY LLC 936 CRENSHAW BLVD 100 LOS ANGELES CA 90019 COSTUME SHOP RENT 587861 AMADEUS MUSIC PRODUCTION CORP 1 PENN PLAZA SUITE 2615 NEW YORK NY 10019 ARTIST 330833 DAZ INVESTMENT LLC 10850 WILSHIRE BLVD SUITE 370 LOS ANGELES CA 90024 WAREHOUSE - STORAGE 228000 3 X 1033931 7687462 20305287 919089 29026680 85474 21454 64020 468 468 1397064 0 1397064 1397064 1397064 29504 1033931 234173 -204669 -204669 ERC TAX CREDIT 900099 2580000 2580000 TMC FND ALLOC 900099 372621 372621 LA MASTER CHORALE TESS 900099 236465 236465 70568 58023 12545 3259654 33564671 667109 33999 3836883 X 50000 50000 1911215 1006594 474190 430431 6816953 4109735 1203374 1503844 336817 275991 22732 38094 1359819 1143732 78804 137283 608223 348923 131497 127803 28401 19045 9356 135000 135000 105375 105375 120853 120853 2387327 2387327 728974 469424 89964 169586 157936 88598 60989 8349 238490 72943 116130 49417 4070 4070 1912783 1733759 132570 46454 151753 113178 21747 16828 7039 5252 242 1545 159511 109577 26620 23314 463707 248503 148467 66737 441186 262484 118895 59807 OTHER CONSULTING FEES 2652216 1433297 833086 385833 PHYSICAL PRODUCTION COS 427319 423849 430 3040 OTHER EXPENSES 47504 47504 21252471 14287236 3782139 3183096 410592 1911398 26708519 33859863 3190852 3505194 1082330 2090730 9643755 8432983 1316015 1210772 22395921 29749102 35187025 39086788 90291254 111413847 4532929 4542073 4426893 5146884 3550000 2450000 6280000 4750000 18789822 16888957 X -9661362 -6508425 81162794 101033315 71501432 94524890 90291254 111413847 X 12312200 5852820 482658 4375780 X 0 1 X 1 0 X 29386562 40920068 34808643 25808679 29026680 159950632 12815358 14472677 11918084 8338498 0 47544617 42201920 55392745 46726727 34147177 29026680 207495249 14338311 25331823 18163174 5437584 5855857 69126749 0 14338311 25331823 18163174 5437584 5855857 69126749 138368500 1601569 1370932 4460113 2901927 64020 10398561 21454 21454 1601569 1370932 4460113 2901927 85474 10420015 12545 12545 301665 209419 179870 510484 3276613 4478051 44105154 56973096 51366710 37559588 32401312 222405860 0.62210 0.61360 0.04690 0.04400 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: GROSS FUNDRAISING REVENUE - 2016 AMOUNT: $ 60,807. 2017 AMOUNT: $ 100,761. 2018 AMOUNT: $ 106,914. 2019 AMOUNT: $ 373,062. 2020 AMOUNT: $ 29,504. ERC TAX CREDIT - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 2,580,000. TMC FND ALLOC - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 372,621. LA MASTER CHORALE TESSITURA - 2016 AMOUNT: $ 0. 2017 AMOUNT: $ 0. 2018 AMOUNT: $ 0. 2019 AMOUNT: $ 0. 2020 AMOUNT: $ 236,465. MISCELLANEOUS REVENUE - 2016 AMOUNT: $ 240,858. 2017 AMOUNT: $ 108,658. 2018 AMOUNT: $ 72,956. 2019 AMOUNT: $ 137,422. 2020 AMOUNT: $ 58,023. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 22395921 1080000 7321363 1048182 29749102 23115709 176800 115435 1012023 22395921 22537187 180000 1207745 829544 23095388 19190924 216512 1415258 -1714493 22537187 17009252 5176090 2542504 5536922 19190924 1.00000 1 0 763843 539112 224731 6753034 5856687 896347 2126878 2037184 89694 1210772 MUSIC CTR FDTN UNITIZED INV PL 29749102 F 29749102 BENEFICIAL INT PERPETUAL TRUST 19391602 BENEFICIAL INT REMAINDER TRUST 19575163 DEPOSITS 88692 FABRIC INVENTORY 31331 39086788 X 44368187 5852820 482658 4468039 10803517 33564670 0 33564670 21344729 92258 92258 21252471 0 21252471 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS 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. TO SATISFY THE LONG-TERM RATE-OF-RETURN OBJECTIVES, THE OPERA RELIES ON A TOTAL RETURN STRATEGY IN WHICH INVESTMENT RETURNS ARE ACHIEVED THROUGH BOTH CAPITAL APPRECIATION (REALIZED AND UNREALIZED) AND CURRENT YIELD (INTEREST AND DIVIDENDS). THESE POLICIES ESTABLISH ASSET CLASSES THAT ARE DEEMED SUITABLE FOR INVESTMENT OF ENDOWMENT FUNDS, WHICH CURRENTLY INCLUDE INVESTMENTS IN DOMESTIC AND INTERNATIONAL EQUITIES, FIXED INCOME, ALTERNATIVE STRATEGIES, AND REAL ASSETS THROUGH THE FOUNDATION INVESTMENT POOL. IN ORDER TO SUPPORT THE LONG-TERM GROWTH OF THE OPERA, THE FINANCE COMMITTEE HAS ESTABLISHED A SPENDING RATE POLICY WHERE THE ENDOWMENT SHALL ANNUALLY DISTRIBUTE A PERCENTAGE OF THE 12-QUARTER ROLLING AVERAGE FAIR VALUE ENDING ON MARCH 30 OF THE PRIOR FISCAL YEAR. IN 2021, THE PERCENTAGE RATE USED WAS 5%. FOR FUNDS WITH DONOR-IMPOSED ASSET ALLOCATIONS OR DISTRIBUTIONS, THE DISTRIBUTIONS CONFORM TO THE DONOR'S EXPRESSED WISHES. THIS SPENDING RATE POLICY IS CONSISTENT WITH THE OPERA'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY OR FOR A SPECIFIED TERM AS WELL AS TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NET GIFTS AND INVESTMENT RETURN. FINAL AUTHORIZATION OF THE APPROPRIATION BY THE BOARD OCCURS WHEN THE BUDGET IS APPROVED. PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITIONS THE OPERA IS EXEMPT FROM TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE AND IS GENERALLY NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. HOWEVER, THE OPERA IS SUBJECT TO INCOME TAXES ON ANY NET INCOME THAT IS DERIVED FROM A TRADE OR BUSINESS, REGULARLY CARRIED ON, AND NOT IN FURTHERANCE OF THE PURPOSES FOR WHICH IT WAS GRANTED EXEMPTION. NO INCOME TAX PROVISION FOR UNRELATED BUSINESS INCOME TAX WAS RECORDED AT JUNE 30, 2021 OR 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN DISCOUNT TO RECOGNIZE PLEDGES AT PRESENT VALUE 575,853. CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 3,387,666. CHANGE IN VALUE OF BENEFICIAL INTEREST IN REMAINDER TRUST 504,520. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNCOLLECTIBLE PLEDGES RECEIVABLE 92,258. X X X X X X X 1 SD&A TELESERVICES INC 5757 WEST CENTURY BLVD STE 300 LOS ANGELES CA 90045 TELEFUNDING 0 0 105375 -105375 105375 -105375 CA 20/21 OPEN GALA 1063435 1033931 29504 44786 87419 101968 1063435 1033931 29504 44786 87419 101968 234173 -204669 1 ANGEL BLUE 3 10000 N/A GIFTED SINGERS AWARD JANAI BRUGGER 1 10000 N/A GIFTED SINGERS AWARD CRAIT COLCLOUGH 1 10000 N/A GIFTED SINGERS AWARD JOSHUA GUERRERO 1 10000 N/A GIFTED SINGERS AWARD KATE LINDSEY 1 10000 N/A GIFTED SINGERS AWARD SCHEDULE I, PART 1, LINE 1 THE EVA AND MARC STERN ARTIST AWARD PROVIDES EXTRA ASSISTANCE TO RISING TALENT, AND INTENDS TO RECOGNIZE THE LASTING ARTISTRY OF THOSE WHO HAVE CONTRIBUTED TO THE COMPANY'S CREATIVE ENDEAVORS IN A SIGNIFICANT WAY. WHILE THIS YEAR'S AWARD WAS SPLIT BETWEEN FIVE INCREDIBLE ARTISTS, FUTURE AWARDS MAY BE GIVEN TO FEWER HONOREES ANNUALLY IN THE SPRINGTIME. RECIPIENTS OF THE AWARD WERE SELECTED BY MEMBERS OF LA OPERA'S ARTISTIC STAFF IN CONSULTATION WITH MARC AND EVA STERN, AND THE OPERA PERIODICALLY CHECKS IN WITH THE RECIPIENTS TO ENSURE THE FUNDS ARE EXPENDED IN A MANNER CONSISTENT WITH THEIR INTENT. X X X X 0 0 0 0 0 0 0 1 0 JAMES CONLON EX.OFF.DIR. SEE SCH. J PT. III 330833 0 0 0 0 0 0 0 133844 0 464677 0 0 0 CHRISTOPHER KOELSCH EX.OFFICIO DIR, PRES & CEO 359332 0 22500 0 0 0 5600 0 15575 0 403007 0 0 0 JOHN NUCKOLS EXECUTIVE VICE PRESIDENT 296533 0 22500 0 0 0 5600 0 0 0 324633 0 0 0 RUPERT HEMMINGS V.P., ARTISTIC PLANNING 213686 0 0 0 0 0 4555 0 18528 0 236769 0 0 0 DIANE RHODES BERGMAN VICE PRESIDENT, MKTG & COMM 216370 0 0 0 0 0 4555 0 5971 0 226896 0 0 0 JOSHUA WINOGRADE SENIOR DIRECTOR, ARTISITC 187984 0 0 0 0 0 4206 0 20393 0 212583 0 0 0 PATRICIA MCLEOD SR. DIRECTOR DEVELOPMENT 180323 0 0 0 0 0 3840 0 13768 0 197931 0 0 0 CARL M RIES V.P., CFO 183647 0 0 0 0 0 3512 0 0 0 187159 0 0 0 JEFF KLEEMAN TECHNICAL DIRECTOR 157219 0 0 0 0 0 2966 0 15575 0 175760 0 0 0 STACY C BRIGHTMAN V.P., ED. & COMM. ENGAGEMENT 160842 0 0 0 0 0 3150 0 6451 0 170443 0 0 0 CHUL PARK DIRECTOR, TECHNOLOGY SERVICES 149221 0 0 0 0 0 3079 0 13768 0 166068 0 0 0 PART I, LINE 7 NONFIXED PAYMENTS TWO INDIVIDUALS RECEIVED A DISCRETIONARY, NON-FIXED BONUS. THIS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN (B). FORM 990, SCHEDULE J, PART II TOTAL COMPENSATION FOR JAMES CONLON IN CALENDAR YEAR 2020 INCLUDES MUSIC DIRECTOR FEES. ANY PAYMENTS FOR SERVICES PROVIDED BY CONLON PER THE AGREEMENT BETWEEN THE OPERA AND HIS COMPANY AMADEUS MUSIC PRODUCTION CORP (A COMPANY UNRELATED TO LA OPERA) WERE MADE TO AMADEUS MUSIC PRODUCTION CORP. ROBERT RONUS BOARD MEMBER OPERATIONS X 3400000 2400000 0 0 1 ROBERT RONUS BOARD MEMBER OPERATIONS X 1050000 16667 0 0 1 MARILYN ZIERING BOARD MEMBER OPERATIONS X 100000 33333 0 0 1 2450000 X 35 919089 AVG VAL DATE DONATED 0 1 0 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS THIS COLUMN REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED. EACH INDIVIDUAL CONTRIBUTION MAY CONTAIN MORE THAN ONE ITEM. SCHEDULE M, PART 1, LINE 9 METHOD OF DETERMINING REVENUES CONTRIBUTED PROPERTY IS RECORDED AS INCOME AT THE FAIR VALUE OF THE PROPERTY ON THE DATE OF DONATION. THE FAIR VALUE OF PUBLICLY TRADED SECURITIES IS BASED ON QUOTED MARKET PRICES. FORM 990, PART III, LINE 3 THE CORONAVIRUS (COVID 19) PANDEMIC RESULTED IN THE CANCELLATION OF ALL SCHEDULED PERFORMANCES DURING THE FISCAL YEAR ENDED JUNE 2021. IN THE WAKE OF LA COUNTY MANDATES TO CLOSE ITS THEATRE, LA OPERA LAUNCHED A DIGITAL PLATFORM, AND OFFERED OVER 150 PERFORMANCES TO AN AUDIENCE OF MORE THAN 1,000,000 VIEWERS, AND RESTORED LIVE PERFORMANCE TO ITS STAGE IN JUNE 2021. ACCORDINGLY, LA OPERA EXPERIENCED A SIGNIFICANT AND ANOMALOUS CHANGE IN ITS PROGRAM SERVICES. FORM 990, PART VI, SECTION A, LINE 1 VOTING MEMBERS OF THE GOVERNING BODY THE EXECUTIVE COMMITTEE IS EMPOWERED TO EXERCISE ALL THE DUTIES OF THE BOARD BETWEEN MEETINGS OF THE BOARD AND WHEN THE BOARD IS NOT IN SESSION, EXCEPT THOSE MATTERS PRECLUDED UNDER SECTION 5212 OF THE CALIFORNIA NONPROFIT CORPORATION LAW. FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIP THERE IS ONE MARRIED COUPLE ON THE BOARD: WARNER & CAROL HENRY. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF THE FORM 990 THE FINAL DRAFT OF THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER AND PRESIDENT OF THE LA OPERA, AND EDITED IF REQUIRED. PRIOR TO PRESENTATION TO THE AUDIT COMMITTEE, THE CHAIR OF THE BOARD REVIEWS THE DRAFT AND PROPOSES EDITS, IF REQUIRED. IT IS THE PRACTICE OF THE LA OPERA TO CIRCULATE THE PUBLIC INSPECTION COPY, WITHOUT SCHEDULE B (CONFIDENTIAL DONOR LIST), TO THE AUDIT COMMITTEE FOR DISCUSSION, REVIEW AND APPROVAL PRIOR TO FILING. FURTHER, THE PUBLIC INSPECTION COPY WITHOUT SCHEDULE B IS MADE AVAILABLE TO THE FULL BOARD SUBSEQUENT TO FILING BY ELECTRONIC OR OTHER MEANS. FORM 990, PART VI, SECTION B, LINE 12C MONITORING AND ENFORCING COMPLIANCE WITH CONFLICT OF INTEREST THE ORGANIZATION HAS WRITTEN CONFLICT OF INTEREST POLICIES ADOPTED BY THE BOARD. ANY PROPOSED TRANSACTION WHERE THERE IS, OR MAY BE, A CONFLICT OF INTEREST WITH A BOARD MEMBER IS DISCUSSED AND MAY BE SUBJECT TO APPROVAL BY THE BOARD. ANNUALLY, A PERSONALIZED LETTER TO EACH BOARD MEMBER, SIGNED BY THE CHAIRMAN OF THE BOARD, IS CIRCULATED SPECIFICALLY REQUESTING REVIEW OF THE POLICY, WHICH IS ATTACHED TO THE LETTER ALONG WITH A QUESTIONNAIRE. A RESPONSE TO A QUESTIONNAIRE IS REQUESTED TO BE SENT TO THE CHIEF FINANCIAL OFFICER. ANY POTENTIAL CONFLICT IS DISCUSSED WITH THE CHAIRMAN OF THE BOARD AND THE PRESIDENT. THE CHAIRMAN OR THE PRESIDENT DECIDE IF A POTENTIAL CONFLICT EXISTS AND IF IT SHOULD BE SUBMITTED TO THE BOARD OF DIRECTORS. A SIMILAR POLICY EXISTS, AND PROCESS IS CONDUCTED, WITH KEY EMPLOYEES WITH A QUESTIONNAIRE SUBMITTED TO THE DIRECTOR OF HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION THE COMPENSATION COMMITTEE OF THE BOARD MEETS TO REVIEW AND APPROVE THE COMPENSATION, OR CHANGE IN COMPENSATION, OF THE FOLLOWING POSITIONS, AND OTHER KEY EMPLOYEES: " GENERAL DIRECTOR " MUSIC DIRECTOR " PRESIDENT AND CHIEF EXECUTIVE OFFICER " CHIEF FINANCIAL OFFICER " VICE PRESIDENTS THE COMPENSATION COMMITTEE IS COMPOSED OF BOARD MEMBERS INDEPENDENT WITH REGARD TO THE COMPENSATION ARRANGEMENT. IN ITS EFFORTS TO COMPENSATE EMPLOYEES FAIRLY FOR THEIR SERVICES, THE COMMITTEE UTILIZES THE FOLLOWING IN DETERMINING APPROPRIATE LEVELS OF COMPENSATION: " COMPENSATION SURVEYS OR STUDIES OF COMPARABLE ORGANIZATIONS " INDUSTRY GROUP SURVEYS (OPERA AMERICA) " FORM 990 OF COMPARABLE ORGANIZATIONS COMPENSATION AGREEMENTS ARE APPROVED BY THE COMMITTEE AND THE BOARD OF DIRECTORS. DOCUMENTATION INCLUDES THE TERMS OF THE AGREEMENTS AND THE DATE APPROVED , MEMBERS PRESENT DURING THE MEETING AND THOSE WHO VOTED ON IT, THE COMPARABILITY DATA RELIED UPON AND HOW IT WAS OBTAINED, AND ANY ACTIONS TAKEN WITH RESPECT TO CONSIDERATION OF THE TRANSACTION BY ANYONE WHO IS OTHERWISE A MEMBER OF THE AUTHORIZED BODY BUT WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION. ONE COMPENSATION COMMITTEE MEETING WAS HELD ON OCTOBER 12, 2020 WHICH REVIEWED AND APPROVED COMPENSATION PACKAGES FOR THE FISCAL YEAR ENDED JUNE 30, 2021. FORM 990, PART VI, SECTION C, LINE 19 PROCESS FOR DISCLOSING GOVERNING DOCUMENTS THE LA OPERA MAKES ITS GOVERNING DOCUMENTS, TAX EXEMPTION LETTER, CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE POSTED ON THE ORGANIZATION'S WEBSITE WWW.LAOPERA.ORG. FORM 990, PART VIII, LINE 2A PROGRAM SERVICE REVENUE THE CORONAVIRUS (COVID 19) PANDEMIC RESULTED IN THE CANCELLATION OF ALL SCHEDULED PERFORMANCES DURING THE FISCAL YEAR ENDED JUNE 2021. ACCORDINGLY, THE LA OPERA REPORTED NO PROGRAM SERVICE REVENUE FOR THE YEAR. FORM 990, PART IX, LINE 11G ARTIST FEES: PROGRAM SERVICE EXPENSES 2,387,327. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,387,327. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST IN PERPETUAL TRUST 3,387,666. CHANGE IN DISCOUNT TO RECOGNIZE PLEDGES AT PRESENT VALUE 575,852. CHANGE IN VALUE OF BENEFICIAL INTEREST IN REMAINDER TRUST 504,520. UNCOLLECTIBLE PLEDGES RECEIVABLE -92,258.