2022-11-10T15:44:36-06:00 2021-12-31 814234542 BPM LLP 4200 BOHANNON DRIVE SUITE 250 MENLO PARK CA 940251021 990 2021-01-01 941751440 SEMI SEMI 4089436900 673 SOUTH MILPITAS BOULEVARD MILPITAS CA 950355473 KEVIN BAUER CFO & BUS. OPERATIONS 4089436900 2022-11-09 1 KEVIN BAUER 999009999 TAMARA L MCINERNEY P00011797 6508556800 2022-11-09 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z AJIT MANOCHA 673 SOUTH MILPITAS BOULEVARD MILPITAS CA 950355473 57588828 0 X HTTP://WWW.SEMI.ORG X 1970 CA SEE SCHEDULE O 17 16 102 7939 65998 0 0 0 36825237 50868554 428055 181022 1522840 6539252 38776132 57588828 265491 0 0 0 19141168 21249971 0 0 0 28351219 36248432 47757878 57498403 -8981746 90425 91537876 100332447 54345970 62039974 37191906 38292473 SEMI IS A NOT-FOR-PROFIT ORGANIZATION FORMED TO PROMOTE AND SUPPORT THE GLOBAL ELECTRONICS SUPPLY CHAIN. 0 0 SEMI'S PROGRAM IS TO SUPPORT THE GLOBAL ELECTRONICS SUPPLY CHAIN THROUGH TRADE SHOWS, CONFERENCES, SEMINARS, DEVELOPMENT OF INDUSTRY STANDARDS, ALONG WITH THE PUBLICATION OF MARKET AND INDUSTRY RESEARCH REPORTS. SEMI'S MARKET AND INDUSTRY RESEARCH REPORTS INCLUDE WORLD FAB FORECAST AND CAPITAL EQUIPMENT CONSENSUS FORECASTS. SEMI PARTNERS WITH A VARIETY OF ORGANIZATIONS TO DELIVER TECHNICAL CONTENT COVERING WAFER FABRICATION, ASSEMBLY, ADVANCE PACKAGING, YIELD IMPROVEMENT, METROLOGY, SEMICONDUCTOR PHYSICS, IC DESIGN, OPTICS, RELIABILITY, MEMS, LED, PV, AND FLEXIBLE HYBRID ELECTRONICS. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 X 60 0 1 102 1 1 1 1 CH KS JA IN BE GM TW SN UK 0 0 0 0 0 0 X 17 16 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 CA X KEVIN BAUER 4089436900 673 SOUTH MILPITAS BLVD MILPITAS CA 950355473 AJIT MANOCHA PRESIDENT & CEO 40.00 4.00 X X 1136040 0 490217 BERTRAND LOY CHAIRMAN 1.00 X X 0 0 0 KEVIN T CROFTON VICE CHAIRMAN 1.00 X X 0 0 0 MARY G PUMA SECRETARY/TREASURER 1.00 X X 0 0 0 TETSUO TSUNEISHI PAST CHAIRMAN 1.00 X X 0 0 0 MIKE ALLISON TRUSTEE 1.00 X 0 0 0 JON D KEMP TRUSTEE 1.00 X 0 0 0 NOBU KOSHIBA TRUSTEE 1.00 X 0 0 0 YONG HAN LEE TRUSTEE 1.00 X 0 0 0 SUE LIN TRUSTEE 1.00 X 0 0 0 DAISUKE MURATA TRUSTEE 1.00 X 0 0 0 STEPHEN S SCHWARTZ TRUSTEE 1.00 X 0 0 0 KYU DONG SUNG TRUSTEE 1.00 X 0 0 0 KAZUO USHIDA TRUSTEE 1.00 X 0 0 0 XINCHAO WANG TRUSTEE 1.00 X 0 0 0 TIEN WU TRUSTEE 1.00 X 0 0 0 JINRONG ZHAO TRUSTEE 1.00 X 0 0 0 KEVIN BAUER FROM 33121 CFO, BUSINESS OPERATIONS OFFICER 40.00 2.00 X 287819 0 211753 JOE PASETTI VP, GLOBAL PUBLIC POLICY & ADVOCACY 40.00 X 424365 0 177013 MELISSA GRUPEN-SHEMANSKY VP, TECHNOLOGY COMMUNITIES 40.00 X 358672 0 168756 DAVID B ANDERSON PRESIDENT, SEMI AMERICAS 40.00 X 354170 0 156506 BETTINA WEISS CHIEF OF STAFF 40.00 X 349738 0 175222 RICHARD J SALSMAN TO 33121 CFO & VP, OPERATIONS 40.00 2.00 X 375650 0 16814 MICHAEL CIESINSKI TO 80221 PRES, FLEXTECH ALLIANCE 40.00 X 278240 0 38763 JAMES JACKMAN TO 21521 VP, FINANCE AND ADMIN 40.00 X 302516 0 6679 MICHAEL RUSSO T0 71521 VP, GLOBAL ADVOCACY 40.00 X 231942 0 31039 GERALDINE TAN VP, FINANCE 40.00 X 343827 0 156026 SHARI LISS EXECUTIVE DIRECTOR, SEMI F 40.00 X 332255 0 127887 THOMAS SALMON VP, COLLABORATIVE TECHNOLO 40.00 X 319952 0 139765 TIM BROSNIHAN EXECUTIVE DIRECTOR, MSIG 40.00 X 317712 0 161321 GENE ESCOBER SENIOR DIRECTOR, IT & BUSINESS INFRASTRUCTURE 40.00 X 242077 0 96932 5654975 0 2154693 56 0 1 0 SITIME CORPORATION 5451 PATRICK HENRY DRIVE SANTA CLARA CA 95054 GOVERNMENT PROJECT CONTRACTOR 1355538 CASE WESTERN RESERVE UNIVERSITY 10900 EUCLIN AVE CLEVELAND OH 44106 GOVERNMENT PROJECT CONTRACTOR 1073785 OUTHINK 4730 ALPHINE RD PORTOLA VALLEY CA 94028 CONSULTING 790262 ANALOG DEVICES INC 1 ANALOG WAY WILMINGTON MA 01887 GOVERNMENT PROJECT CONTRACTOR 765184 THE RESEARCH FOUNDATION FOR STATE UNIVER PO BOX 6000 BINGHAMTON NY 94304 GOVERNMENT PROJECT CONTRACTOR 743554 42 TRADESHOWS 541900 19282032 19282032 GOVERNMENT CONTRACTS 541900 12775974 12775974 MEMBERSHIP DUES 541900 9108743 9108743 SPONSORSHIP INCOME 541900 3997800 3997800 PUBLICATION 541900 3899576 3899576 1804429 1804429 50868554 181022 181022 2003960 2003960 OTHER INCOME 900099 4469294 4469294 ADVERTISING 541800 65998 65998 4535292 57588828 55337848 65998 2184982 4408104 14297527 622238 1003213 918889 3605440 1053350 400233 3763061 100215 357875 1822738 4045171 445205 8772045 645363 178068 GOVERNMENT CONTRACT PAY 10480998 TAXES 323621 BANK AND FINANCIAL CHAR 251281 OTHER 3768 57498403 73190344 80547557 1792023 4985435 2618647 2115080 6951526 5078236 2473514 1873290 1306096 768866 1511621 1511621 8645631 8530598 91537876 100332447 12483216 18572898 477035 2544209 2569525 38841510 40897551 54345970 62039974 X 37191906 38292473 37191906 38292473 91537876 100332447 X 90425 -45299 1055441 X X 0 1 X 1 1 1 0 0 0 2982031 822092 822092 745508 76584 2931568 1198807 1732761 990367 937614 52753 3029591 2941815 87776 1873290 INTERCOMPANY RECEIVABLES 8238986 VAT RECEIVABLES 1912 DEPOSIT 289700 8530598 ADVANCE DEPOSITS 37386861 POST-RETIREMENT BENEFITS 2016001 TAXES PAYABLE 1494689 40897551 X PART X, LINE 2: SEMI IS A NOT-FOR-PROFIT ORGANIZATION RECOGNIZED BY THE IRS AND FTB AS EXEMPT FROM FEDERAL AND STATE INCOME TAXES IN THE UNITED STATES. HOWEVER, CERTAIN ACTIVITIES OF SUBSIDIARIES OR BRANCHES IN OTHER COUNTRIES, SUCH AS TRADE SHOWS, ARE SUBJECT TO FOREIGN INCOME TAXES OR OTHER TAXES ON INCOME GENERATED IN THEIR RESPECTIVE JURISDICTIONS. TAX EXPENSE WAS AS FOLLOWS FOR THE YEARS ENDED DECEMBER 31 (IN THOUSANDS): 2021 2020 CURRENT $1,099 $1,896 DEFERRED 69 (158) ------------------------------------------------------------ TOTAL INCOME TAXES $1,168 $1,738 NET DEFERRED TAX ASSETS ARE INCLUDED IN PREPAIDS AND OTHER CURRENT ASSETS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AND APPROXIMATED $283,000 AND $347,000 AT DECEMBER 31, 2021 AND 2020, RESPECTIVELY. THE SOURCES RESULTING IN NET DEFERRED TAX ASSETS CONSIST PRINCIPALLY OF DEFERRED REVENUES AND DEFERRED EXPENSES RELATED TO EXHIBITIONS, ACCRUALS, AND DEPRECIATION. ADDITIONALLY, THE GROUP GENERATES UNRELATED BUSINESS INCOME, PRIMARILY FROM ITS ADVERTISING ACTIVITIES. THESE ACTIVITIES HAVE HISTORICALLY GENERATED LOSSES AND SEMI HAS ACCUMULATED NET OPERATING LOSS CARRYFORWARDS ("NOLS"). AS OF DECEMBER 31, 2021 AND 2020, SEMI HAD NOLS OF APPROXIMATELY $5,513,000 AND $5,506,000 RESPECTIVELY. THE NOLS WILL BEGIN TO EXPIRE AFTER THE YEAR ENDING DECEMBER 31, 2022. THE ABILITY TO UTILIZE THE NOLS OR REALIZE ANY BENEFITS IS UNCERTAIN, AND THEREFORE A FULL VALUATION ALLOWANCE HAS BEEN APPLIED AGAINST THEM. NO VALUATION ALLOWANCE OTHER THAN NOLS DESCRIBED IN THE PRECEDING PARAGRAPH WAS RECORDED AT DECEMBER 31, 2021 AND 2020, AS THE GROUP CONCLUDED THAT ALL OF THE DEFERRED TAX ASSETS WILL BE REALIZED IN FUTURE YEARS. NET DEFERRED ASSETS ARE RECORDED AS PREPAIDS AND OTHER CURRENT ASSETS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AND ANY CHANGE IS RECORDED IN NON-OPERATING EXPENSES ON THE CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. ON DECEMBER 22, 2017, THE TAX CUTS AND JOBS ACT (THE "2017 TAX ACT") WAS ENACTED. THE 2017 TAX ACT INCLUDES A NUMBER OF CHANGES TO EXISTING U.S. TAX LAWS THAT IMPACT THE GROUP, MOST NOTABLY A REDUCTION OF THE U.S. CORPORATE INCOME TAX RATE FROM 35 PERCENT TO 21 PERCENT FOR TAX YEARS BEGINNING AFTER DECEMBER 31, 2017. THE GROUP MEASURES DEFERRED TAX ASSETS AND LIABILITIES USING ENACTED TAX RATES THAT WILL APPLY IN THE YEARS IN WHICH THE TEMPORARY DIFFERENCES ARE EXPECTED TO BE RECOVERED OR PAID. ACCORDINGLY, THE GROUP'S DEFERRED TAX ASSETS AND LIABILITIES WERE RE-MEASURED TO REFLECT THE REDUCTION IN THE U.S. CORPORATE INCOME TAX RATE FROM 35 PERCENT TO 21 PERCENT. ON MARCH 27, 2020, THE PRESIDENT OF THE UNITED STATES SIGNED THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT ("CARES ACT"). PROVISIONS UNDER THE CARES ACT INCLUDE CHANGES TO PERMIT NET OPERATING LOSSES ARISING IN TAX YEARS BEGINNING AFTER DECEMBER 31, 2017 AND BEFORE JANUARY 1, 2021 TO BE CARRIED FORWARD INDEFINITELY AND CARRIED BACK FIVE YEARS. THE CARES ACT ALSO PROVIDES FOR INCREASES TO THE 30% ADJUSTED TAXABLE INCOME LIMITATION TO 50% FOR TAX YEARS BEGINNING IN 2019 AND 2020, AS WELL AS A TECHNICAL CORRECTION OF QUALIFIED IMPROVEMENT PROPERTY, AND DEFERRAL OF INCOME TAX FILINGS AND PAYMENTS. THE NEW LAW ALSO INCLUDES CERTAIN PAYROLL TAX BENEFITS. THE ENACTMENT OF THE CARES ACT DOES NOT HAVE A MATERIAL IMPACT ON THE GROUP'S INCOME TAXES. THE GROUP'S TOTAL GROSS UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS CURRENT AND NON-CURRENT LIABILITIES IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. AS OF DECEMBER 31, 2021 AND 2020, THE TOTAL AMOUNT OF GROSS UNRECOGNIZED TAX BENEFITS WAS APPROXIMATELY $1,182,000 AND $1,309,000, RESPECTIVELY, WHICH RESULTS ENTIRELY FROM FOREIGN TAXES. THE AGGREGATE CHANGES IN THE BALANCE OF GROSS UNRECOGNIZED TAX BENEFITS, WHICH INCLUDES INTEREST AND PENALTIES, ARE AS FOLLOWS (IN THOUSANDS): BALANCES AS OF JANUARY 1, 2020 $1,724 DECREASES RELATED TO TAX PAYMENTS (1,242) DECREASE RELATED TO EXPIRY OF STATUE OF LIMITATION (167) INCREASES RELATED TO TAX POSITIONS TAKEN DURING A PRIOR PERIOD 21 INCREASED RELATED TO TAX POSITIONS TAKEN DURING CURRENT PERIOD 973 BALANCE AS OF DECEMBER 31, 2020 $1,309 DECREASED RELATED TO EXPIRY OF STATUE OF LIMITATION (152) INCREASES RELATED TO TAX POSITIONS TAKEN DURING A PRIOR PERIOD 25 BALANCE AS OF DECEMBER 31, 2021 $1,182 AS OF DECEMBER 31, 2021, THE GROUP HAS ANALYZED THE INVENTORY OF TAX POSITIONS TAKEN WITH RESPECT TO ALL APPLICABLE INCOME TAX ISSUES FOR ALL OPEN TAX YEARS (IN EACH RESPECTIVE JURISDICTION) INCLUDING TAX YEARS ENDED DECEMBER 31, 2017 THROUGH DECEMBER 31, 2021 FOR U.S. FEDERAL TAX PURPOSES AND TAX YEARS ENDED DECEMBER 31, 2016 THROUGH DECEMBER 31, 2020 FOR CALIFORNIA TAX PURPOSES (EXCEPT WITH RESPECT TO THE EXTENT OF NET OPERATING LOSSES FOR WHICH THE STATUTE IS OPEN FOR FEDERAL AND CALIFORNIA TAX PURPOSES FROM TAX YEAR DECEMBER 31, 2001) AND TAX YEARS ENDED DECEMBER 31, 2011 THROUGH DECEMBER 31, 2021 FOR FOREIGN TAX PURPOSES. AS OF DECEMBER 31, 2021 AND 2020, THE COMPOSITION OF UNRECOGNIZED TAX BENEFITS WAS AS FOLLOWS (IN THOUSANDS): 2021 2020 GROSS UNRECOGNIZED TAX BENEFITS - TAXES 666 774 GROSS UNRECOGNIZED TAX BENEFITS - INTEREST AND PENALTIES 516 535 BALANCE AS OF DECEMBER 31 $1,182 $1,309 THE GROUP DOES NOT ANTICIPATE A MATERIAL CHANGE TO ITS ACCRUED UNRECOGNIZED TAX BENEFITS IN THE TWELVE MONTHS FOLLOWING DECEMBER 31, 2021. SOUTH KOREA TAXES CERTAIN ACTIVITIES ENGAGED BY THE GROUP IN OTHER COUNTRIES, SUCH AS CONFERENCES AND EXPOSITIONS, ARE SUBJECT TO FOREIGN INCOME TAXES AND OTHER TAXES ON INCOME GENERATED IN THE RESPECTIVE JURISDICTIONS. EXPOSURE TO INCOME AND LOCAL TAXES IS DIRECTLY DEPENDENT ON WHETHER AN ENTITY HAS A TAXABLE PRESENCE, OR PERMANENT ESTABLISHMENT, WITHIN THE FOREIGN JURISDICTION. THE GROUP HAS DETERMINED THAT CONFERENCES AND EXPOSITIONS HELD IN SOUTH KOREA BY SEMI DID NOT CONSTITUTE A PERMANENT ESTABLISHMENT IN ACCORDANCE WITH THE PROVISIONS OF THE U.S. AND KOREA TAX TREATY OF 1976. WHILE THE INTERPRETATION OF THE U.S. AND KOREA TAX TREATY OF 1976 IS LEFT TO LOCAL KOREAN TAX AUTHORITIES, THE GROUP HELD THE POSITION THAT SUCH A CONCLUSION WOULD MORE LIKELY THAN NOT BE SUSTAINED AFTER AN AUDIT. IN 2009, SEMI KOREA WAS ESTABLISHED AS A SEPARATE LEGAL ENTITY FROM SEMI, AND A TRANSFER PRICING AGREEMENT WAS ENACTED BETWEEN SEMI AND SEMI KOREA. SEMI KOREA RECEIVES COMPENSATION FOR SERVICES PROVIDED, INCLUDING FOR EVENTS IN SOUTH KOREA, TO ENSURE TRANSACTIONS ENGAGED IN BETWEEN THE ENTITIES WERE CONDUCTED AT AN ARMSLENGTH AND DID NOT CREATE A PERMANENT ESTABLISHMENT IN SOUTH KOREA FOR SEMI. ACCORDINGLY, THE GROUP MAINTAINED THEIR ASSESSMENT THAT NO TAXES SHOULD BE ASSESSED ON CONFERENCES AND EXPOSITIONS HELD IN SOUTH KOREA, DUE TO A LACK OF A TAXABLE PRESENCE. IN AUGUST 2019, THE GROUP RECEIVED AN INQUIRY FROM THE SOUTH KOREAN NATIONAL TAX SERVICE ("NTS"). THE NTS SUBSEQUENTLY CHALLENGED THE GROUP'S POSITION, RULING THAT SEMI HAS A PERMANENT ESTABLISHMENT IN SOUTH KOREA. THE GROUP RESPONDED TO THE NTS INQUIRIES AND SUBSEQUENTLY RECEIVED NOTIFICATION IN MARCH 2020 OF AN INCOME TAX ASSESSMENT FOR THE 2012 TAX YEAR. AS REQUIRED BY THE NTS, THE GROUP PAID THE ASSESSMENT TO ALLOW THE GROUP TO BEGIN AN APPEAL PROCESS. THE GROUP WAS FURTHER NOTIFIED ADDITIONAL TAXES AND PENALTIES WOULD BE ASSESSED FOR 2013 THROUGH 2019 IN JULY 2020. AS A CONSEQUENCE OF THIS RULING, THE GROUP HAS ACCRUED INCOME TAXES, VALUE ADDED TAXES ("VAT") AND PENALTIES FOR THE YEARS FROM 2012 THROUGH 2019 FOR APPROXIMATELY $6,946,000 AS OF DECEMBER 31, 2019, WHICH WERE PAID IN 2020. THE GROUP DID NOT ACCRUE ANY ADDITIONAL TAXES AND PENALTIES RELATED TO THIS MATTER AS OF DECEMBER 31, 2021 OR 2020 DUE TO THE 2021 AND 2020 KOREA EVENT CANCELLATIONS. THE GROUP BELIEVES THAT ITS ACTIVITIES IN SOUTH KOREA DO NOT CREATE A PERMANENT ESTABLISHMENT AND WILL APPEAL THE ASSESSMENT. THE LIKELIHOOD OF A FAVORABLE OUTCOME IS NOT YET ASCERTAINABLE. EAST ASIA AND THE PACIFIC 1 PROGRAM SERVICES TRADE SHOWS, INDUSTRY STANDARDS & RESEARCH, EDUCATION 17007808 EUROPE (INCLUDING ICELAND & GREENLAND) PROGRAM SERVICES TRADE SHOWS, INDUSTRY STANDARDS & RESEARCH, EDUCATION 2188429 EAST ASIA AND THE PACIFIC INVESTMENTS INVESTMENTS 815608 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS INVESTMENTS 37800 SOUTH ASIA INVESTMENTS INVESTMENTS 658213 1 0 0 0 1 0 20707858 0 20707858 0 0 1 0 0 0 PART III ACCOUNTING METHOD: 1 X X X X X 1 0 0 AJIT MANOCHA PRESIDENT & CEO 657823 0 438294 0 39923 0 455510 0 34707 0 1626257 0 438294 0 JOE PASETTI VP, GLOBAL PUBLIC POLICY & ADVOCACY 301865 0 120600 0 1900 0 155967 0 21046 0 601378 0 120600 0 MELISSA GRUPEN-SHEMANSKY VP, TECHNOLOGY COMMUNITIES 265421 0 86907 0 6344 0 143250 0 25506 0 527428 0 86907 0 BETTINA WEISS CHIEF OF STAFF 253968 0 88323 0 7447 0 146163 0 29059 0 524960 0 88323 0 DAVID B ANDERSON PRESIDENT, SEMI AMERICAS 261923 0 86712 0 5535 0 125008 0 31498 0 510676 0 86712 0 GERALDINE TAN VP, FINANCE 259876 0 80335 0 3616 0 148450 0 7576 0 499853 0 80335 0 KEVIN BAUER FROM 33121 CFO, BUSINESS OPERATIONS OFFICER 281790 0 0 0 6029 0 193155 0 18598 0 499572 0 0 0 TIM BROSNIHAN EXECUTIVE DIRECTOR, MSIG 243340 0 72000 0 2372 0 148707 0 12614 0 479033 0 72000 0 SHARI LISS EXECUTIVE DIRECTOR, SEMI F 237455 0 92700 0 2100 0 125967 0 1920 0 460142 0 92700 0 THOMAS SALMON VP, COLLABORATIVE TECHNOLO 248096 0 68290 0 3566 0 125690 0 14075 0 459717 0 68290 0 RICHARD J SALSMAN TO 33121 CFO & VP, OPERATIONS 158536 0 210299 0 6815 0 14500 0 2314 0 392464 0 210299 0 GENE ESCOBER SENIOR DIRECTOR, IT & BUSINESS INFRA 192337 0 44515 0 5225 0 67846 0 29086 0 339009 0 44515 0 MICHAEL CIESINSKI TO 80221 PRES, FLEXTECH ALLIANCE 157776 0 113733 0 6731 0 13855 0 24908 0 317003 0 113733 0 JAMES JACKMAN TO 21521 VP, FINANCE AND ADMIN 53427 0 35746 0 213343 0 4693 0 1986 0 309195 0 35746 0 MICHAEL RUSSO T0 71521 VP, GLOBAL ADVOCACY 188410 0 40078 0 3454 0 11669 0 19370 0 262981 0 40078 0 PART I, LINE 4A DURING YEAR ENDED DECEMBER 31, 2021, JAMES JACKMAN RECEIVED SEVERANCE PAY TOTALING $212,775. SCHEDULE J, PART II COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN F REPRESENTS AMOUNTS THAT WERE REPORTED ON PRIOR YEARS' FORMS 990 AS THE BENEFITS WERE ACCRUED. THESE AMOUNTS ARE ALSO REPORTED ON SCHEDULE J, PART II, COLUMB B(II) AS THEY WERE ALSO REPORTABLE ON THE CURRENT YEAR'S FORMS W-2 FOR THE AFFECTED INDIVIDUALS. THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN F SHOULD BE SUBTRACTED FROM THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN E TO ARRIVE AT THE ACTUAL COMPENSATION FOR THE CURRENT YEAR. FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: SEMI IS A NOT-FOR-PROFIT ORGANIZATION FORMED TO PROMOTE AND SUPPORT THE GLOBAL ELECTRONICS SUPPLY CHAIN. SEMI MEMBERS CONSIST OF CORPORATIONS, COMPANIES, FIRMS, OR ORGANIZATIONS, OR DEPARTMENTS OR SUBDIVISIONS THEREOF, WHOSE INTEREST OR CORPORATE OBJECTIVE IS IN THE GLOBAL ELECTRONICS SUPPLY CHAIN; PROVIDED THAT SUCH ENTITIES SHALL NOT BECOME VOTING MEMBERS EXCEPT UPON PAYMENT OF SUCH INITIATION FEES AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 SEMI MEMBERS CONSIST OF CORPORATIONS, COMPANIES, FIRMS, OR ORGANIZATIONS, OR DEPARTMENTS OR SUBDIVISIONS THEREOF, WHOSE INTEREST OR CORPORATE OBJECTIVE IS IN THE GLOBAL ELECTRONIC SUPPLY CHAIN; PROVIDED THAT SUCH ENTITIES SHALL NOT BECOME VOTING MEMBERS EXCEPT UPON PAYMENT OF SUCH INITIATION FEES AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A EACH VOTING MEMBER IN GOOD STANDING IS ENTITLED TO VOTE FOR THE ELECTION OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B VOTING MEMBERS HAVE THE POWER TO AMEND THE ARTICLES OF INCORPORATION AND CORPORATE BYLAWS OF SEMI AND MAY HAVE OTHER POWERS CONFERRED BY THE NONPROFIT PUBLIC BENEFIT CORPORATION LAW OF THE STATE OF CALIFORNIA. FORM 990, PART VI, SECTION B, LINE 11B BPM LLP AND SEMI STAFF WORK TOGETHER TO GATHER THE REQUIRED TAX INFORMATION NECESSARY TO COMPLETE THE TAX RETURNS. THE INITIAL DRAFT RETURN IS REVIEWED BY BPM AND SEMI FINANCE STAFF; ITEMS ARE DISCUSSED AND REVIEWED. RECOMMENDED CHANGES ARE REFLECTED IN THE RETURN AND A DRAFT TAX RETURN IS PREPARED. THE FINANCE COMMITTEE RECEIVES THE FINAL VERSION OF THE TAX RETURN FOR REVIEW PRIOR TO FILING. THE BOARD HAS DELEGATED MONITORING AND REVIEW OF FINANCIAL MATTERS TO THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C SEMI HAS A CODE OF CONDUCT POLICY, WHICH INCLUDES THE CONFLICT OF INTEREST POLICY. SEMI HAS REVIEWED THIS POLICY WITH ALL EMPLOYEES, OFFICERS AND DIRECTORS AND OBTAINED THEIR COMMITMENT TO ABIDE BY IT. FORM 990, PART VI, SECTION B, LINE 15A IN CONJUNCTION WITH AN INTERNATIONAL BOARD OF DIRECTORS MEETING EACH YEAR, THE BOARD COMPENSATION COMMITTEE MEETS WITH THE PRESIDENT AND CEO AND CFO. BASED UPON SALARY SURVEY INFORMATION AND THE USE OF AN INDEPENDENT COMPENSATION CONSULTANT, THEY PRESENT RECOMMENDED MERIT INCREASES ON A REGIONAL BASIS FOR APPROVAL BY THE BOARD COMPENSATION COMMITTEE. ONCE APPROVED, THE SEMI EXECUTIVE AND STAFF MERIT INCREASES ARE ADMINISTERED BY FUNCTIONAL LEADERSHIP THROUGH THE PERFORMANCE MANAGEMENT SYSTEM WITH FINAL APPROVAL BY THE PRESIDENT AND CEO. THE CEO'S ANNUAL COMPENSATION ADJUSTMENT IS DISCUSSED PRIVATELY WITH THE BOARD COMPENSATION COMMITTEE AND THE CFO. A REVIEW OF THE CEO'S GOALS AND ACCOMPLISHMENTS IS ACCOMPANIED BY A RECOMMENDED COMPENSATION ADJUSTMENT BASED ON INDEPENDENT SALARY SURVEYS. THE BOARD COMPENSATION COMMITTEE THEN MEETS IN CLOSED SESSION TO REVIEW THIS INFORMATION AND DETERMINE AN APPROPRIATE PERFORMANCE RATING AND THE ACCOMPANYING BONUS AND MERIT INCREASE. FORM 990, PART VI, SECTION C, LINE 18 SEMI MAKES ITS FORMS 990 AND 990-T AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 SEMI MAKES ITS AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CURRENCY EXCHANGE 938,207. CHANGE IN TRANSLATION RESERVES 186,063. CHANGE IN PENSION ACCRUAL -68,824. ROUNDING ADJUSTMENT -5. FORM 990, PART XII, LINE 2C: THERE HAS BEEN NO CHANGE IN THE PROCESS FROM THE PRIOR YEAR SEMI FOUNDATION 673 SOUTH MILPITAS BOULEVARD MILPITAS CA 950355473 300155873 EDUCATION PROGRAMS CA 501(C)(3) LINE 7 SEMI 1 SEMI JAPAN YK 4-7-15 KUDAN-MINAMI CHIYODA-KU TOKYO JA 102-0074 TRADE ASSOCIATION JA SEMI C 7795907 7480483 1.00000 1 SEMI SOUTHEAST ASIA PTE LTD LEVEL 6LOBBY APICO CREATIVE CENTR KALLANG AVE SN 339411 TRADE ASSOCIATION SN SEMI C 1055722 1285385 1.00000 1 SEMI MANAGEMENT CONSULTING (SHANGHAI) CO LTD SUITE 803 2ND BUILDING 1158 ZHANG PUDONG SHANGHAI CH 201203 TRADE ASSOCIATION CH SEMI C 13657114 17329093 1.00000 1 SEMI TECH SERVICES INDIA PRIVATE LIMITED DBS HOUSE SUITE 217 26 CUNNINGH BANGALORE IN 560052 TRADE ASSOCIATION IN SEMI C 44436 35604 1.00000 1 SEMI ADVANCED TECHNOLOGY ASSOCIATION OF KOREA KOREA WORLD TRADE TOWER 4205 159-1 SEOUL KS 135-729 TRADE ASSOCIATION KS SEMI C 1752806 3721638 1.00000 1 SEMI EUROPE GMBH HELMHOLTZSTRASSE 2-9 CHARLOTTENBUR BERLIN GM 10587 TRADE ASSOCIATION GM SEMI C 2915938 2021543 1.00000 1 1 0 0 1 0 0 0 0 0 0 0 1 1 1 1 0 1 0 0 SEMI JAPAN YK A 2003960 COST SEMI JAPAN YK D 5818844 COST SEMI SOUTHEAST ASIA PTE LTD D 1811929 COST SEMI TECH SERVICES INDIA PRIVATE LIMITED D 37789 COST SEMI SOUTHEAST ASIA PTE LTD L 228315 COST SEMI JAPAN YK M 24929 COST SEMI EUROPE GMBH M 1801487 COST SEMI ADVANCED TECHNOLOGY ASSOCIATION OF KOREA M 1733096 COST SEMI TECH SERVICES INDIA PRIVATE LIMITED M 45929 COST SEMI FOUNDATION O 717457 COST SEMI FOUNDATION Q 267669 COST