2021-02-18T06:37:45-06:00 2020-06-30 030225774 GALLAGHER FLYNN & COMPANY LLP 725 COMMUNITY DRIVE SUITE 401 SOUTH BURLINGTON VT 05403 990 2019-07-01 222990644 VERMONT ETV INC VERM 8026554800 10 EAST ALLEN ST NO 202 WINOOSKI VT 05404 STEPHEN FERREIRA CEO 8026554800 2021-01-19 1 STEPHEN P TRENHOLM CPA P00460558 8028631331 2021-01-19 2019 2022-09-23 18:48:47Z VERMONT PBS STEPHEN FERREIRA 10 EAST ALLEN ST NO 202 WINOOSKI VT 05404 14259476 0 X WWW.VERMONTPBS.ORG X 1989 VT SEE SCHEDULE O 14 13 52 35 900 0 4045647 5361561 317889 268991 1214884 1196754 1339831 1178919 6918251 8006225 0 0 0 0 3650480 3955099 168789 123566 914444 4182828 5033867 8002097 9112532 -1083846 -1106307 61045347 58305889 2548199 2562596 58497148 55743293 X VERMONT PBS CELEBRATES THE INNOVATION AND CREATIVE SPIRIT OF VERMONT, OUR NEIGHBORS IN NEW ENGLAND, NEW YORK AND CANADA, AND CIVIC SOCIETY BEYOND, TO SPARK COMMUNITY AND DEMOCRACY IN OUR WORLD. WE OFFER PROGRAMMING AND EVENTS THAT CONNECT, EMPOWER, AND INSPIRE INDIVIDUALS AND BRING THEM TOGETHER TO DISCOVER NEW KNOWLEDGE, EXPLORE INNOVATIVE IDEAS, AND CELEBRATE OUR COMMONALITIES AND DIFFERENCES IN WAYS THAT PROMOTE DEMOCRATIC VALUES AND RESPECT. 0 0 1198436 247473 PROGRAM DELIVERY: VERMONT PBS LEVERAGES MULTIPLE MEDIA PLATFORMS AND EVENTS TO PROVIDE BROAD ACCESS TO INFORMATION THAT ENLIGHTENS, INSPIRES, AND EMPOWERS OUR VERMONT COMMUNITY AND NEARBY NEIGHBORS IN NEW HAMPSHIRE, NEW YORK, AND CANADA. OUR PROGRAMS ARE BROADCAST 24 HOURS PER DAY, SEVEN DAYS A WEEK, AND VIEWERS WATCH MANY OF THEIR FAVORITE PROGRAMS LIVE STREAMED OR ON DEMAND VIA OUR WEBSITE. WE ALSO BRING OUR PROGRAMMING INTO THE COMMUNITY THROUGH OUTREACH PROGRAMS, SPECIAL EVENTS, TOWN HALLS, AND LIVE ONLINE WEBCASTS. OUR TOWN HALLS CONVENED STAKEHOLDERS AROUND IMPORTANT ISSUES FOR DISCUSSION TO BUILD MUTUAL UNDERSTANDING AND RESPECT. AND OUR OUTREACH ACTIVITIES BROUGHT COMMUNITY MEMBERS TOGETHER WITH MULTIPLE RESOURCES TO ENHANCE THEIR LIVES, INCLUDING CONNECTING PARENTS OF PRESCHOOLERS WITH EARLY-EDUCATION TEACHERS, SPECIALIZED LEARNING MATERIALS AND TECHNOLOGY, AND PBS KIDS PROGRAMMING TO HELP BRIDGE THE DIGITAL DIVIDE FOR ECONOMICALLY DISADVANTAGED VERMONT FAMILIES. WE CONTINUE OUR SUPPORT TO COMMUNITY FAMILIES AND YOUTH WITH VERMONT PBS KIDS, A CHANNEL AND WEB STREAM TO ENSURE THAT PBS KIDS EDUCATIONAL MEDIA IS AVAILABLE TO ALL FAMILIES WHEN THEY WANT IT AND VIA A PLATFORM THAT WORKS BEST FOR THEM. IN ADDITION TO TWENTY-FOUR HOUR, SEVEN DAYS A WEEK PROGRAMMING FROM PBS, VERMONT PBS OFFERS VERMONT BASED TEACHING THROUGH VIDEO AND CONCERTS FOR PRESCHOOLERS AND THEIR FAMILIES.WE PARTNERED WITH THE VERMONT AGENCY OF EDUCATION (AOE) TO PROVIDE EDUCATIONAL CONTENT TO SUPPLEMENT REMOTE LEARNING FOR VERMONT STUDENTS AND SCHOOL DISTRICTS DURING THE COVID-19 OUTBREAK. THIS INITIATIVE PROVIDED OVER 83,500 VERMONT STUDENTS ACCESS TO FREE, HIGH-QUALTIY EDUCATIONAL RESOURCES VIA TELEVISION BROADCAST AND ONLINE CONTENT THROUGHOUT THE DURATION OF SCHOOL CLOSURES TO HELP COMPLEMENT DISTANCE LEARNING EFFORTS BY VERMONT SCHOOL LEADERS. "I RECOGNIZE THERE IS NO REPLACEMENT FOR IN-PERSON INSTRUCTION AND THE LEARNING THAT TAKES PLACE IN A CLASSROOM BUT THIS IS AN UNPRECEDENTED PUBLIC HEALTH SITUATION, AND WE MUST WORK TOGETHER TO PROVIDE THE BEST POSSIBLE REMOTE LEARNING OPPORTUNITIES FOR VERMONT'S KIDS," GOVERNOR SCOTT SAID. "EDUCATORS AND PARENTS ARE WORKING HARD TO ACHIEVE THESE GOALS, AND THIS INITIATIVE WILL HELP SUPPORT THEIR WORK. I AM GRATEFUL TO VERMONT PBS AS HTIS PARTNERSHIP WILL GIVE THOSE ALREADY DOING SO MUCH ANOTHER TOOL TO REACH AND EDUCATE STUDENTS," GOVERNOR SCOTT ADDED. VERMONT PBS USED TOW OF ITS STATEWIDE CHANNELS TO BROADCAST CONTENT ACROSS THE AGE SPECTRUM FOR PRE-K THROUGH THE 12TH GRADE. VERMONT PBS ALSO PROVIDED RESOURCES THAT ALLOWED TEACHERS AND CAREGIVERS TO ACCESS AT-HOME CURRICULUM THAT INCLUDES ACTIVITIES, ASSIGNMENTS AND LEARNING OBJECTIVES. 1180492 1241 PROGRAM PRODUCTION: VERMONT PBS PRODUCES YEAR-ROUND, ORIGINAL PROGRAMMING STEEPED IN THE ARTS, CULTURE, SCIENCE, NEWS, COMMUNITY ENGAGEMENT, AND K-12 EDUCATION ENRICHMENT. WE PROVIDE A LOCAL AND REGIONAL LENS ON ISSUES OF INTEREST AND IMPORTANCE TO OUR COMMUNITY AND BRING PEOPLE TOGETHER THROUGH SHARED INFORMATION AND EXPERIENCES. IN THE PAST YEAR WE PARTNERED WITH COMMUNITY MEMBERS FROM THROUGHOUT THE REGION, INCLUDING: ARTISTS AND ARTISANS; ENVIRONMENTALISTS AND FARMERS; INNOVATORS AND ENTREPRENEURS; MUSICIANS AND MAKERS; HISTORIANS, BUSINESS LEADERS AND CIVIC ORGANIZATIONS; K-12 TEACHERS, ADMINISTRATORS, PARENTS AND STUDENTS; AND ACTIVE CITIZENS AND AREA AGENTS OF CHANGE. TOGETHER WE PRODUCED ORIGINAL BROADCAST AND WEB-BASED PROGRAMS TO CELEBRATE THE INNOVATION AND CREATIVE SPIRIT OF VERMONT AND SPARK COMMUNITY AND DEMOCRACY IN OUR WORLD. EXAMPLE COLLABORATIONS INCLUDED OUR ONGOING "MADE HERE" SERIES THAT FEATURES ORIGINAL AREA FILMMAKERS AND THEIR WORK; AND OUR VERMONT PBS + PRESCHOOL PROJECT PARTNERSHIP WITH CHAMPLAIN VALLEY HEAD START TO HELP PARENTS FROM ECONOMICALLY DISADVANTAGED FAMILIES ENGAGE IN THEIR CHILDREN'S EDUCATION THROUGH THE USE OF DIGITAL MEDIA AND SUPPORTING EDUCATIONAL RESOURCES. 3680182 5967 VERMONT PBS PROVIDES ACCLAIMED PROGRAMMING FROM NATIONAL AND INTERNATIONAL SOURCES INCLUDING PBS, THE BBC, AND OTHER AWARD-WINNING PRODUCERS OF EDUCATIONAL AND ENTERTAINMENT PROGRAMS. OUR AUDIENCE RELIES ON VERMONT PBS FOR THEIR FAVORITES SUCH AS "FRONTLINE," "NOVA," "LIVE FROM LINCOLN CENTER," "AUSTIN CITY LIMITS," "FINDING YOUR ROOTS, AND THE WIDE RANGE OF CHILDREN'S PROGRAMS, INTERACTIVE WEB-BASED ACTIVITIES, AND EDUCATIONAL RESOURCES FROM PBS KIDS. THESE ONGOING SERIES ARE SUPPLEMENTED BY IN-DEPTH FEATURES AND SHORT-TERM SERIES ROOTED IN RIGOROUS RESEARCH AND INVESTIGATIVE REPORTING. VERMONT PBS IS ABLE TO PURCHASE THESE PROGRAMS BY LEVERAGING GIFTS AND GRANTS FROM OUR MEMBERS, CORPORATE SPONSORS, NON-PROFIT ORGANIZATIONS, AND PUBLIC AND PRIVATE FUNDING AGENCIES. 6059110 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 52 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 14 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH NY X X LEONARD CUNNINGHAM 8026554800 10 EAST ALLEN ST STE 202 WINOOSKI VT 05404 DONNA AUSTIN- HAWLEY VICE CHAIR 4.00 X X 0 0 0 MARGUERITE DIBBLE CHAIR 4.00 X X 0 0 0 HAL COLSTON DIRECTOR 2.00 X 0 0 0 JOHN EVANS DIRECTOR 2.00 X 0 0 0 PETER GRAHAM DIRECTOR 2.00 X 0 0 0 ELIZABETH RATTIGAN DIRECTOR 2.00 X 0 0 0 BILL STETSON DIRECTOR 2.00 X 0 0 0 LISA VENTRISS DIRECTOR 2.00 X 0 0 0 JIM CLUBB CHAIR UNTIL JUNE 2019 4.00 X X 0 0 0 HOLLY GROSCHNER PRESIDENT 42.00 X X 160000 0 17657 DENNISE CASEY DIRECTOR 2.00 X 0 0 0 TOM EVSLIN DIRECTOR 2.00 X 0 0 0 WANDA HEADING-GRANT DIRECTOR 2.00 X 0 0 0 DAVID TAPLIN DIRECTOR 2.00 X 0 0 0 LEONARD CUNNINGHAM SECRETARY 42.00 X 88944 0 31321 STEPHEN FERREIRA TREASURER 42.00 X 137683 0 26874 CHRYSTAL HEIMERT VP MARKETING 42.00 X 109788 0 32363 JACK EFROMSON CHIEF TECHNOLOGY OFFICER 42.00 X 140329 0 22191 636744 0 130406 4 0 1 0 CONTRIBUTOR DEVELOPMENT PARTNERSHIP PO BOX 412299 BOSTON MA 022412299 FUNDRAISING 188979 SONY ELECTRONICS INC 1 SONY DRIVE PARK RIDGE NJ 07656 MASTER CONTROL SERVICES 188190 CLEARBEARING INC 1 TOWNE MARKET PLACE UNIT 22 ESSEX JCT VT 05452 IT SUPPORT 128336 3 5361561 1350 5361561 PROGRAM UNDERWRITING 515100 260770 260770 OTHER 515100 8221 7321 900 268991 1472877 1472877 1176526 1176526 5977128 6146614 106637 -169486 -106637 -276123 -276123 OTHER 515100 2393 2393 2393 8006225 270484 900 2373280 766445 766445 2310038 1763525 159673 386840 656041 444904 136034 75103 222575 127586 67002 27987 116750 116750 38095 38095 123566 123566 172863 172863 818863 477063 341800 55454 47371 6505 1578 602252 359850 120759 121643 552975 541815 7797 3363 54212 37858 13611 2743 739599 737877 1722 191962 129383 37240 25339 PROGRAM ACQUISITIONS 689275 689275 LEASES 472123 310799 108859 52465 SUBSCRIPTIONS, DUES 457983 334296 36582 87105 BANK CHARGES 57697 47464 5470 4763 13764 10044 1771 1949 9112532 6059110 2138978 914444 124423 238377 849778 370454 79745 240479 263426 17327463 8863169 5363096 8464294 54832941 48524223 61045347 58305889 1510089 1750591 544574 522710 192397 0 301139 289295 2548199 2562596 X 57896676 54489995 600472 1253298 58497148 55743293 61045347 58305889 X -1106307 -1636241 -11307 X X 0 1 X 1 0 X 4163289 4133814 3783554 4349342 5622331 22052330 4163289 4133814 3783554 4349342 5622331 22052330 22052330 1187143 1216492 1917695 2694619 2648934 9664883 19594 13878 1961 1847 590 37870 31755083 279726 0.69450 0.71900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 53481357 791 -336954 5500000 172863 47472331 52119871 2542541 1002565 178490 53481357 2040846 50187651 373 109000 52119871 2348758 71348 214941 594200 2040846 2323116 18400 34342 27100 2348758 0 0 5301886 2177622 3124264 10023816 6219733 3804083 2001761 465814 1535947 8464294 MUTUAL FUNDS 36465788 F INVESTED CASH 4990918 F CORPORATE BONDS 2811759 F US GOVERNMENT SECURITIES 1712920 F OTHER 2542838 F 48524223 BENEFIT PLAN LIABILITY 289295 289295 X 6237966 -1636241 40845 -1595396 7833362 172863 172863 8006225 8991821 40845 11307 52152 8939669 172863 172863 9112532 PART V, LINE 4: THE CORPORATION'S ENDOWMENT FUNDS ARE FOR THE PURPOSE OF SUPPORTING PRODUCTIONS AND PROGRAMMING THAT SUPPORTS LOCAL CULTURAL AND NATURAL PROGRAMMING AND CROSS BORDER PROGRAMMING. PART X, LINE 2: THE CORPORATION QUALIFIES AS A TAX-EXEMPT, NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION IS, HOWEVER, SUBJECT TO FEDERAL AND STATE INCOME TAX ON NET UNRELATED BUSINESS INCOME FROM CERTAIN LEASING ACTIVITIES AS DEFINED IN THE APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE. THE CORPORATION HAS A PROVISION FOR UNRELATED BUSINESS INCOME TAXES OF APPROXIMATELY $0 IN 2020 AND $500 IN 2019. THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CORPORATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE CORPORATION HAS RECOGNIZED A LIABILITY FOR POTENTIAL ADDITIONAL INCOME TAXES PAYABLE IN THE AMOUNTS OF APPROXIMATELY $455,000 AND $456,000 AT JUNE 30, 2020 AND 2019,RESPECTIVELY. THE CORPORATION HAS ALSO INCLUDED IN THE PROVISION FOR UNRELATED BUSINESS INCOME TAXES AMOUNTS, WHICH INCLUDES INTEREST AND PENALTIES ASSSOCIATED WITH UNRECOGNIZED TAX BENEFITS, TOTALLING APPROXIMATELY $21,800 IN 2020 AND $19,300 IN 2019 FOR THIS POTENTIAL MATTER. INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS TOTALLING APPROXIMATELY $2,500 IN 2020 AND $4,900 IN 2019, ARE CLASSIFIED AS ADDITIONAL INCOME TAXES IN ADMINISTRATION EXPENSES IN THE STATEMENT OF ACTIVITIES. WITH FEW EXCEPTIONS, THE CORPORATION IS NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE THE YEAR ENDED JUNE 30, 2017. PART XII, LINE 2D - OTHER ADJUSTMENTS: SUPPLEMENTAL BENEFIT PLAN EXPENSE 11,307. CANADA 0 FUNDRAISING 20137 0 0 0 0 0 0 20137 0 20137 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X X X X 1 CONTRIBUTOR DEVELOPMENT PO BOX 412299 BOSTON MA 022412299 EMAIL 0 599887 10286 589601 CONTRIBUTOR DEVELOPMENT PO BOX 412299 BOSTON MA 022412299 DIRECT MAIL MARKETING 0 553750 91251 462499 CONTRIBUTOR DEVELOPMENT PO BOX 412299 BOSTON MA 022412299 TELEMARKETING 0 21964 3471 18493 1175601 105008 1070593 NH NY VT 1 X X 0 0 0 0 0 0 0 0 0 HOLLY GROSCHNER PRESIDENT 160000 0 0 0 0 0 0 0 17657 0 177657 0 0 0 STEPHEN FERREIRA TREASURER 137683 0 0 0 0 0 0 0 26874 0 164557 0 0 0 JACK EFROMSON CHIEF TECHNOLOGY OFFICER 140329 0 0 0 0 0 0 0 22191 0 162520 0 0 0 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION WE CONTINUE TO PARTNER WITH CHAMPLAIN VALLEY HEAD START TO PROMOTE DIGITAL LITERACY FOR VERMONT PRESCHOOLERS AND THEIR PARENTS. OUR PARENTS + PRESCHOOL PROGRAM LINKS RESEARCH AND RESOURCES CREATED BY THE PBS NATIONAL READY TO LEARN INITIATIVE WITH LOCAL EARLY EDUCATION TEACHERS AND ECONOMICALLY DISADVANTAGED VERMONT FAMILIES. THIS BODY OF RESEARCH SUPPORTS PLAYFUL ENGAGEMENT THROUGH EDUCATIONAL GAMES, BOOKS AND RESOURCES SHARED ON THE PBS KIDS, PBS KIDS PARENT, PBS KIDS LAB (SCIENCE & MATH), AND PBS KIDS ISLAND (LITERACY) WEBSITES. VERMONT PBS HAS TAKEN THE NATIONAL READY TO LEARN RESEARCH AND RESOURCES TO THE NEXT LEVEL BY COLLABORATING WITH CHAMPLAIN VALLEY HEAD START TO PROVIDE ECONOMICALLY DISADVANTAGED VERMONT FAMILIES WITH THEIR OWN DIGITAL TECHNOLOGY AND A "HOW TO" WORKSHOP TO HELP THEM ENRICH THEIR PRESCHOOL-AGED CHILDREN'S EDUCATION. THE WORKSHOPS ARE ADMINISTERED BY CERTIFIED LICENSED EARLY EDUCATORS WHO SHARE INTERACTIVE ACTIVITIES WITH FAMILIES AND LINK EACH ACTIVITY TO EARLY LEARNING CONCEPTS AND WITH ON-LINE PBS KIDS PARENT RESOURCES CREATED THROUGH THE NATIONAL READY TO LEARN PROGRAM. THROUGH THE WORKSHOP, FAMILIES LEARN HOW TO BE TECH SAVVY AND DISCERN WHICH PROGRAMS AND ACTIVITIES CAN BE USED SIDE-BY-SIDE TO ENHANCE THEIR CHILDREN'S LEARNING. PART III, LINE 4B VERMONT PBS PRODUCES YEAR-ROUND, ORIGINAL PROGRAMMING IN PARTNERSHIP WITH A WIDE RANGE OF COMMUNITY MEMBERS, INCLUDING: ARTISTS, ARTISANS, ENVIRONMENTALISTS, FARMERS, INNOVATORS, ENTREPRENEURS, MAKERS, MUSICIANS, SCIENTISTS, HISTORIANS, BUSINESS LEADERS, CIVIC ORGANIZATIONS, K-12 TEACHERS, ADMINISTRATORS, PARENTS AND STUDENTS, AND ACTIVE CITIZENS AND AREA AGENTS OF CHANGE. THESE ORIGINAL PROGRAMS PROVIDE A LOCAL AND REGIONAL LENS ON ISSUES OF INTEREST AND IMPORTANCE TO OUR COMMUNITY AND ARE STEEPED IN THE ARTS, CULTURE, SCIENCE, NEWS, COMMUNITY ENGAGEMENT, AND K-12 EDUCATION ENRICHMENT. HERE ARE BRIEF DESCRIPTIONS OF SEVERAL OF OUR ORIGINAL PROGRAMS PRODUCED IN THE PAST YEAR THAT HIGHLIGHT THE ECLECTIC AND CREATIVE SPIRIT OF VERMONT. "MADE HERE" SHOWCASES FILMMAKERS FROM VERMONT, NEW HAMPSHIRE, AND UPSTATE NEW YORK TO SHARE A WIDE RANGE OF LOCAL STORIES THROUGH MANY DIFFERENT EYES. THE SERIES FEATURES BOTH FICTION-BASED AND DOCUMENTARY FILMS THAT ARE RELEVANT, INSPIRING, EDUCATIONAL, AND CONNECTIVE. THROUGHOUT THE YEAR THE PROGRAM ALSO BECOMES A PLATFORM FOR WORKS FROM OUR COMMUNITY'S MOST PROMISING STUDENT FILMMAKERS. "MADE HERE" BRINGS THE STORIES OF OUR COMMUNITY TO COMMUNITIES BEYOND AND CELEBRATES THE TALENT AND SKILL OF OUR FILM ARTISTS RIGHT HERE AT HOME. "VERMONT THIS WEEK" HAS BEEN OUR SIGNATURE PUBLIC AFFAIRS SERIES FOR THE PAST 35 YEARS AND CONTINUES TO ENGAGE OUR COMMUNITY IN TODAY'S MOST PRESSING NEWS AND ISSUES. SOME OF VERMONT'S MOST INSIGHTFUL JOURNALISTS GATHER EACH WEEK TO DISCUSS NATIONAL AND LOCAL EVENTS OF THE PAST WEEK TO EXPLORE BOTH WHAT HAPPENED AND THE REASONS WHY. IT REMAINS ONE OF OUR MOST WATCHED AND STREAMED ORIGINAL PROGRAMS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS REVIEWED AND APPROVED AT A BOARD OF DIRECTORS MEETING FOLLOWING THE COMPLETION OF THE FORM AND BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C PART IV-SECTION B POLICIES 12C: ANNUALLY BOARD MEMBERS AND SENIOR STAFF COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM WHICH IS REVIEWED, EVALUATED AND MAINTAINED ON FILE. ANY ISSUES DISCLOSED WHICH ARE CONSIDERED OR MAY BE PERCEIVED AS A CONFLICT ARE HANDLED ON A CASE BY CASE BASIS. FORM 990, PART VI, SECTION B, LINE 15 PART IV- SECTION B POLICIES 15A: ANNUALLY THE CEO IS REVIEWED AND EVALUATED BY THE FULL BOARD OF DIRECTORS. COMPENSATION IS DETERMINED BY THE BOARD. PERIODICALLY, INDEPENDENT CONSULTANTS ARE USED TO DETERMINE MARKET RATE AND COMPARABLE MARKET DATA FOR THE CEO AND OTHER KEY EMPLOYEES. THE BOARD REVIEWS THIS DATA AND ESTABLISHES AN APPROPRIATE COMPENSATION LEVEL FOR THE CEO. THE BOARD HAS ESTABLISHED A COMPENSATION COMMITTEE TO SPECIFICALLY REVIEW CEO COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST FORM 990, PART XI, LINE 9: SUPPLEMENTAL BENEFIT PLAN EXPENSE -11,307. PART XII, LINE 2C NO CHANGES FROM THE PRIOR YEAR.