2021-10-15T13:22:54-05:00 2021-05-31 450250958 EIDE BAILLY LLP 2950 E HARMONY RD STE 290 FORT COLLINS CO 805283429 990 2020-06-01 742215035 VAIL VALLEY FOUNDATION VAIL 9707772015 PO BOX 6550 AVON CO 81620 ROBERT J FORD TREASURER & CFO 9709491999 2021-10-15 1 ROBERT FORD 999009999 KYLE FRITCH CPA P01313374 9702238825 2021-10-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHAEL IMHOF PO BOX 6550 AVON CO 81620 11255811 0 X WWW.VVF.ORG X 1983 CO TO ENHANCE THE QUALITY OF LIFE IN THE VAIL VALLEY AND SHOWCASE OUR COMMUNITY TO A GLOBAL AUDIENCE THROUGH ARTS, ATHLETICS AND EDUCATION. 43 42 397 110 0 0 9874916 8856511 9663098 1484662 1010246 289417 -113709 -25066 20434551 10605524 1153536 2196403 0 0 5816622 3545882 0 0 992423 11782304 4505728 18752462 10248013 1682089 357511 29545665 34085817 10274162 12559642 19271503 21526175 X VAIL VALLEY FOUNDATION WAS CREATED TO ENHANCE THE QUALITY OF LIFE IN THE VAIL VALLEY AND SHOWCASE OUR COMMUNITY TO A GLOBAL AUDIENCE THROUGH ARTS, ATHLETICS, AND EDUCATION. 0 0 1697433 260247 703263 THE VILAR PERFORMING ARTS CENTER THEATRE OPERATIONS INCLUDE PROMOTING AND DEVELOPING AWARENESS AND APPRECIATION OF THE ARTS AND EDUCATING THE GENERAL PUBLIC ABOUT THE ARTS THROUGH PROGRAMS, ACTIVITIES, AND EVENTS TO FOSTER THE ARTS AND ARTS EDUCATION. THE THEATRE IS LOCATED WITHIN BEAVER CREEK RESORT PROVIDING YEAR-ROUND PERFORMANCES INCLUDING BROADWAY MUSICALS, ROCK CONCERTS, FAMILY SHOWS, COMEDY SHOWS, DANCE AND FILM FESTIVALS, JAZZ CONCERTS AND MORE. 1246728 195000 69093 VAIL VALLEY FOUNDATION HOLDS THE VAIL DANCE FESTIVAL EVERY YEAR. THE FESTIVAL INCLUDES SEVERAL PERFORMANCES BY INTERNATIONAL COUPLES AND ENSEMBLES FROM MAJOR INTERNATIONAL COMPANIES HELD AT THE GERALD R. FORD AMPHITHEATER. THE PERFORMANCES VARY FROM YEAR TO YEAR, BUT FREQUENTLY INCLUDE GUEST ARTISTS FROM THE AMERICAN BALLET THEATRE AND OTHER WORLD-CLASS COMPANIES. THE FESTIVAL PROVIDES EDUCATION AND ENHANCES THE APPRECIATION AND AVAILABILITY OF DANCE IN THE VAIL COMMUNITY. 359281 0 9461 VAIL VALLEY FOUNDATION HOSTS THE BIRDS OF PREY WORLD CUP INTERNATIONAL ALPINE SKI RACE ANNUALLY. THE RACE CONSISTS OF A WORLD CUP MEN'S SUPER-COMBINED, WORLD CUP MEN'S DOWNHILL, AND A WORLD CUP MEN'S SLALOM COMPETITION. THIS ATHLETIC EVENT ATTRACTS PEOPLE FROM AROUND THE WORLD HELPING TO PROMOTE THE TOWN OF VAIL AND THE QUALITY OF LIFE IN THE VAIL VALLEY AREA. 3533106 1741156 702845 VAIL VALLEY FOUNDATION HOSTS AND SPONSORS A VARIETY OF OTHER EVENTS IN THE VAIL VALLEY AREA INCLUDING GOPRO MOUNTAIN GAMES, HOT SUMMER NIGHTS, SHOW DOWN TOWN, AND WHISTLE PIG VAIL. THE EVENTS HELP TO SUPPORT A VARIETY OF EDUCATIONAL PROGRAMS, OTHER NONPROFIT ORGANIZATIONS, STRENGTHENING FAMILIES WITHIN THE COMMUNITY, AND KEEPING THE COMMUNITY VITAL AND EXCITING. 3533106 1741156 702845 6836548 1 1 0 0 0 1 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 108 0 1 397 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 X 43 42 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CO X HEIDI ELZINGA 9707772015 90 BENCHMARK ROAD STE 300 AVON CO 81620 MICHAEL IMHOF PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 15.00 X X 265839 0 25584 ANN SMEAD CHAIRMAN 0.50 1.00 X X 0 0 0 ANDY ARNOLD BOARD MEMBER 0.50 1.00 X 0 0 0 JOHN ARNOLD BOARD MEMBER 0.50 1.00 X 0 0 0 CARRIE BESNETTE HAUSER BOARD MEMBER 0.50 1.00 X 0 0 0 SAM BRONFMAN BOARD MEMBER 0.50 1.00 X 0 0 0 SUSAN CAMPBELL BOARD MEMBER 0.50 1.00 X 0 0 0 CHARLENE CHEN BOARD MEMBER 0.50 1.00 X 0 0 0 WILL COOK BOARD MEMBER 0.50 1.00 X 0 0 0 STEVE COYER BOARD MEMBER 0.50 1.00 X 0 0 0 ANDY DALY BOARD MEMBER 0.50 1.00 X 0 0 0 MATT DONOVAN BOARD MEMBER 0.50 1.00 X 0 0 0 BILL ESREY BOARD MEMBER 0.50 1.00 X 0 0 0 JOHANNES FAESSLER BOARD MEMBER 0.50 1.00 X 0 0 0 TIM FINCHEM BOARD MEMBER 0.50 1.00 X 0 0 0 STEVE FRIEDMAN BOARD MEMBER 0.50 1.00 X 0 0 0 MARGIE GART BOARD MEMBER 0.50 1.00 X 0 0 0 DONNA GIORDANO BOARD MEMBER 0.50 1.00 X 0 0 0 SHEIKA GRAMSHAMMER BOARD MEMBER 0.50 1.00 X 0 0 0 MICHAEL HERMAN BOARD MEMBER 0.50 1.00 X 0 0 0 BETH HOWARD BOARD MEMBER 0.50 1.00 X 0 0 0 AL HUBBARD BOARD MEMBER 0.50 1.00 X 0 0 0 BJ HYBL BOARD MEMBER 0.50 1.00 X 0 0 0 CHRISTOPHER JARNOT BOARD MEMBER 0.50 1.00 X 0 0 0 CHERYL JENSEN BOARD MEMBER 0.50 1.00 X 0 0 0 ALEXIA JURSCHAK BOARD MEMBER 0.50 1.00 X 0 0 0 ANNE-MARIE KEANE BOARD MEMBER 0.50 1.00 X 0 0 0 MIKE KRUPKA BOARD MEMBER 0.50 1.00 X 0 0 0 SARAH MILLETT BOARD MEMBER 0.50 1.00 X 0 0 0 ELLEN MORITZ BOARD MEMBER 0.50 1.00 X 0 0 0 KAIA MORITZ BOARD MEMBER 0.50 1.00 X 0 0 0 DAM PENNINGTON BOARD MEMBER 0.50 1.00 X 0 0 0 JILL PLANCHER BOARD MEMBER 0.50 1.00 X 0 0 0 MICHAEL PRICE BOARD MEMBER 0.50 1.00 X 0 0 0 DAVID SALVIN BOARD MEMBER 0.50 1.00 X 0 0 0 KEN SCHANZER BOARD MEMBER 0.50 1.00 X 0 0 0 MIKE SHANNON BOARD MEMBER 0.50 1.00 X 0 0 0 ROD SLIFER BOARD MEMBER 0.50 1.00 X 0 0 0 HAP STEIN BOARD MEMBER 0.50 1.00 X 0 0 0 KRISTIN TANG BOARD MEMBER 0.50 1.00 X 0 0 0 FRED TRESCA BOARD MEMBER 0.50 1.00 X 0 0 0 GARY WOODWORTH BOARD MEMBER 0.50 1.00 X 0 0 0 KRISTY WOOLFOLK BOARD MEMBER 0.50 1.00 X 0 0 0 ROBERT J FORD CHIEF FINANCIAL OFFICER 40.00 15.00 X 183138 0 22648 SARAH JOHNSON SVP PHILANTHROPY 40.00 0.00 X 180778 0 4485 SARAH FRANKE VP OPERATIONS & MARKETING 40.00 0.00 X 159054 0 11924 DAVE DRESSMAN VP SALES 40.00 0.00 X 143086 0 15415 DUNCAN HORNER EXECUTIVE DIRECTOR VPAC 40.00 0.00 X 141640 33501 16511 JESSICA STEVENS SALES DIRECTOR 40.00 0.00 X 116389 0 15227 BRIAN MULLER IT DIRECTOR 40.00 0.00 X 111847 0 6266 TOM BOYD PR DIRECTOR 40.00 0.00 X 103700 0 7373 1405471 33501 125433 9 0 1 0 Q-BIRD PRODUCTIONS INC 338 W 72ND ST 2 NYC NY 10023 ARTISTIC DIRECTOR OF DANCE FESTIVAL 271286 1 691080 881100 7284331 796092 8856511 VILAR PERFORMING ARTS CENTER 711310 703263 703263 GERALD R. FORD AMPHITHEATER 711310 295619 295619 MOUNTAIN GAMES 711310 84596 84596 VAIL DANCE FESTIVAL 711310 69093 69093 BIRDS OF PREY 711310 9461 9461 322630 322630 1484662 226700 226700 687438 500 625221 0 62217 500 62717 62717 0 691080 25066 -25066 -25066 10605524 1484662 0 264351 1809296 1809296 387107 387107 926875 772975 153900 1977932 383660 1049790 544482 35845 8300 16359 11186 413376 161333 196646 55397 191854 84906 71016 35932 120528 57545 62022 961 105677 17360 88317 72097 72097 24808 24808 476895 374846 2588 99461 269080 124040 34680 110360 222760 120423 100600 1737 550139 311857 238282 35381 24248 3831 7302 83251 47245 36006 1028952 802280 226672 114934 69271 45663 PERFORMERS, TALENT & SP 845846 845846 0 0 SITE PREPARATION 168338 159386 8952 0 PRODUCTION EXPENSE 139209 138384 0 825 EDUCATION, TRAINING AND 42452 16967 10041 15444 205381 119273 1580 84528 10248013 6836548 2419042 992423 4061838 5839560 605101 337846 43855 310653 20344 15446 388238 812564 23197853 11954267 11976765 11243586 11074386 14060344 481065 407158 894073 1058660 29545665 34085817 969249 1567579 1996822 3267334 4391164 4228852 2498755 2957881 418172 537996 10274162 12559642 X 9786708 10716953 9484795 10809222 19271503 21526175 29545665 34085817 X 357511 3017146 -1119985 X 0 1 X 1 0 X 5549174 9840302 9199089 9874916 8856511 43319992 2913055 9410133 9698994 9663098 1484662 33169942 8462229 19250435 18898083 19538014 10341173 76489934 2189985 3732070 3531340 3367580 3279289 16100264 237284 1830302 1441544 72821 3581951 2427269 3732070 5361642 4809124 3352110 19682215 56807719 194186 306015 547307 382218 226700 1656426 194186 306015 547307 382218 226700 1656426 0 51070 55580 77155 0 183805 8656415 19607520 19500970 19997387 10567873 78330165 0.72520 0.73060 0.02110 0.01880 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 20 3 1524117 161526 653438 34000 4885685 797729 1 1 5300111 1353676 534207 6119580 4609281 153422 91251 4671452 4925249 -22670 293298 4609281 3857464 1000000 276224 208439 4925249 3647167 223239 12942 3857464 0.70000 0.30000 0 0 20315430 10482603 9832827 1024030 444509 579521 1522356 880554 641802 336037 146601 189436 11243586 DUE TO RELATED PARTIES 537996 537996 X 13550573 3017146 3017146 10533427 72097 72097 10605524 10175916 0 10175916 72097 72097 10248013 PART V, LINE 4: VAIL VALLEY FOUNDATION'S INTENDED USE OF THE PERMANENT ENDOWMENT FUND IS TO USE THE EARNINGS FROM THE INVESTED FUNDS FOR REPAIR AND MAINTENANCE EXPENSES ON THE FORD AMPHITHEATER. TEMPORARILY RESTRICTED DESIGNATED ENDOWMENTS ARE USED TO FUND EDUCATIONAL, SCHOLARSHIP, AND OTHER PROGRAMS OF THE FOUNDATION. PART X, LINE 2: VAIL VALLEY FOUNDATION (VVF) IS ORGANIZED AS COLORADO NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). VVF HAS BEEN DETERMINED TO NOT BE A PRIVATE FOUNDATION AND QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION. VVF IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, VVF IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. VVF FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME AND THESE TAX FILINGS ARE NO LONGER SUBJECT TO EXAMINATION FOR YEARS BEFORE 2016. NO INCOME TAXES WERE PAID DURING OR FOR THE YEARS ENDED MAY 31, 2021 AND 2020. VVF BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. VVF WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. SCHEDULE D, PART V, LINE 1A: THE DIFFERENCE BETWEEN ENDING AND BEGINNING ENDOWMENT FUNDS CHANGED TO PROPERLY ADJUST FOR UNRECORDED ENDOWMENTS. BLACK DIAMOND BALL 691080 691080 170 24896 691080 691080 170 24896 25066 -25066 1 YOUTHPOWER365 90 BENCHMARK RD STE 202 AVON CO 81620 841442909 501(C)(3) 413333 GENERAL SUPPORT WALKING MOUNTAINS PO BOX 9469 AVON CO 81620 841436731 501(C)(3) 200000 GENERAL SUPPORT VAIL MOUNTAIN SCHOOL 3000 BOOTH FALLS ROAD VAIL CO 816574631 840533775 501(C)(3) 26500 GENERAL SUPPORT BRIGHT FUTURE FOUNDATION PO BOX 2558 AVON CO 81620 840938374 501(C)(3) 93000 COMMUNITY FUND/ GENERAL SUPPORT CATHOLIC CHARITIES 1004 GRAND AVE GLENWOOD SPRINGS CO 81601 840686679 501(C)(3) 55000 COMMUNITY FUND COLORADO MOUNTAIN COLLEGE 150 MILLER RANCH ROAD EDWARDS CO 81632 742393418 501(C)(3) 10000 COMMUNITY FUND EAGLE VALLEY COMMUNITY FOUNDATION PO BOX 1580 VAIL CO 81658 471915583 501(C)(3) 100000 COMMUNITY FUND EAGLE VALLEY FAMILY ASSISTANCE FUND PO BOX 4711 AVON CO 81620 841244189 501(C)(3) 395000 COMMUNITY FUND HABITAT FOR HUMANITY VAIL VALLEY PO BOX 4149 AVON CO 81620 841278922 501(C)(3) 50000 COMMUNITY FUND LAKE COUNTY COMMUNITY FUND PO BOX 477 LEADVILLE CO 80461 814684882 501(C)(3) 106000 COMMUNITY FUND MANAUS PO BOX 2026 CARBONDALE CO 81623 501(C)(3) 20700 COMMUNITY FUND MY FUTURE PATHWAYS PO BOX 4525 EDWARDS CO 81632 501(C)(3) 10000 COMMUNITY FUND NEIGHBORHOOD NAVIGAT OF EAGLE COUNTY PO BOX 4934 EAGLE CO 81631 831290163 501(C)(3) 15000 COMMUNITY FUND SKI & SNOWBOARD CLUB VAIL 598 VAIL VALLEY DR VAIL CO 81657 846038792 501(C)(3) 25000 COMMUNITY FUND/ GENERAL SUPPORT SOS OUTREACH PO BOX 2020 AVON CO 81620 841332544 501(C)(3) 20000 COMMUNITY FUND SWIFT EAGLE CHARITABLE FOUNDATION PO BOX 1977 AVON CO 81620 800109707 501(C)(3) 30000 COMMUNITY FUND THE CYCLE EFFECT PO BOX 1503 EAGLE CO 81631 460961369 501(C)(3) 37500 COMMUNITY FUND/ GENERAL SUPPORT THE LITERACY PROJECT PO BOX 608 MINTURN CO 81645 843114953 501(C)(3) 12000 COMMUNITY FUND THE SALVATION ARMY PO BOX 2183 EDWARDS CO 81632 941156347 501(C)(3) 55500 COMMUNITY FUND TRIO THERAPY PARTNER PO BOX 4002 EAGLE CO 81631 832600458 501(C)(3) 11500 COMMUNITY FUND UNITED WAY OF EAGLE RIVER VALLEY PO BOX 4153 EDWARDS CO 81632 841360915 501(C)(3) 10000 COMMUNITY FUND VAIL VALLEY CHARITABLE FUND PO BOX 2307 EDWARDS CO 81632 841359124 501(C)(3) 8500 COMMUNITY FUND VIDA FOUNDATION USA PO BOX 920 GYPSUM CO 81637 853804448 501(C)(3) 7000 COMMUNITY FUND FAMILY LEARNING CENTER 31626 HIGHWAY 6 EDWARDS CO 81632 841519047 501(C)(3) 7000 GENERAL SUPPORT SMALL CHAMPIONS OF EAGLE COUNTY PO BOX 4691 VAIL CO 81658 841376280 501(C)(3) 6500 GENERAL SUPPORT VILAR CENTER ARTS FOUNDATION PO BOX 3822 AVON CO 81620 841316133 501(C)(3) 61857 GENERAL SUPPORT 26 0 ARTIST RELIEF GRANTS 144 345000 LOCAL SHOW TICKETS 151 42107 TICKET PRICE COMP TICKETS FOR LOCALS TO ATTEND PERFORMANCES AT VILAR PERFORMING ARTS CENTER PART I, LINE 2: VAIL VALLEY FOUNDATION RECEIVES PERIODIC REPORTS FROM GRANTEE ORGANIZATIONS AS TO HOW GRANT FUNDS HAVE BEEN USED. THOSE REPORTS AND BASED ON THE EXTENSIVE RELATIONSHIPS THE FOUNDATION HOLDS WITH BUSINESSES AND THE COMMUNITY, THE FOUNDATION DEEMS TO HAVE ADEQUATELY FULFILLED THE MONITORING PROCEDURES FOR GRANTEES. FOR INDIVIDUALS RECEIVING GRANTS, YOUTHPOWER365 MAINTAINS RELATIONSHIPS WITH THE STUDENTS TO HELP THEM CONTINUE THEIR EDUCATION AND FULFILL GRANT REQUIREMENTS. X X 0 0 0 1 0 0 0 1 0 MICHAEL IMHOF PRESIDENT/CHIEF EXECUTIVE OFFICER 265839 0 0 0 0 0 0 0 27170 0 293009 0 0 0 ROBERT J FORD CHIEF FINANCIAL OFFICER 183138 0 0 0 0 0 4739 0 19307 0 207184 0 0 0 DUNCAN HORNER EXECUTIVE DIRECTOR VPAC 141640 33501 0 0 0 0 3268 1089 10254 3418 155162 38008 0 0 SARAH JOHNSON SVP PHILANTHROPY 180778 0 0 0 0 0 4485 0 1519 0 186782 0 0 0 SARAH FRANKE VP OPERATIONS & MARKETING 159054 0 0 0 0 0 4016 0 9085 0 172155 0 0 0 DAVE DRESSMAN VP SALES 143086 0 0 0 0 0 3262 0 13224 0 159572 0 0 0 PART I, LINE 5 COMMISSIONS ARE PAID TO THE VICE PRESIDENT OF SALES BASED ON PROCUREMENT OF SPONSORSHIPS FOR VARIOUS EVENTS HELD BY THE ORGANIZATION. THE LEVEL OF COMMISSION IS BASED ON THE TYPE OF SPONSORSHIP, 10% OF THE AMOUNT FOR NEW SPONSORSHIPS AND 5% FOR REVEWAL OF SPONSORSHIPS. PART I, LINE 7 THE ORGANIZATION'S EXECUTIVE COMMITTEE ANNUALLY REVIEWS THE PERFORMANCES OF THE EXECUTIVE STAFF AND OTHER STAFF AS IDENTIFIED BY THE COMMITTEE TO DETERMINE IF ADDITIONAL COMPENSATION IN THE FORM OF BONUSES IS AVAILABLE AND WILL BE PAID. DURING CALENDAR YEAR ENDING DECEMBER 31, 2020, THE EXECUTIVE COMMITTEE AWARDED THE VP OF SALES A BONUS BASED ON REVIEW OF HIS PERFORMANCES AND SERVICES TO THE ORGANIZATION. A COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY 840896727 2013-01-17 5770000 REFINANCE EXISTING LOANS. 0 0 0 A 1220000 5570000 74803 5495197 2013 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 0 1 1 MORGAN STANLEY CAPITAL SERVICES 30.000000000000 0 1 0 0 1 A 0 X 35 660770 COST OR SELLING PRICE X APPAREL, MISC. GIFTS, TRANSPORTAION 73 135322 COST OR SELLING PRIC 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE TOTAL NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 1 VAIL VALLEY FOUNDATION IS MANAGED BY AN EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE INCLUDES THE CHAIRMAN OF THE BOARD, THE PRESIDENT/CEO, AND TEN ADDITIONAL BOARD MEMBERS APPOINTED BY THE BOARD OF DIRECTORS. EXCEPT AS OTHERWISE PROVIDED BY LAW, THE ARTICLES AND BYLAWS OF THE VAIL VALLEY FOUNDATION, THE EXECUTIVE COMMITTEE SHALL BE VESTED WITH THE POWERS OF THE BOARD OF DIRECTORS IN THE INTERIM BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL OFFICERS, DIRECTORS, AND OTHER TOP MANAGEMENT OFFICIALS. THE EXISTENCE OF ANY POTENTIAL CONFLICT OF INTEREST SHALL BE DISCLOSED TO THE CFO AND/OR BOARD OF DIRECTORS, WHO SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IN THE EVENT A CONFLICT OF INTEREST DOES EXISTS, THE CFO AND/OR BOARD OF DIRECTORS WILL DETERMINE WHETHER OR NOT THE INDIVIDUALS WITH THE CONFLICT SHOULD BE RECUSED FROM THE DELIBERATION ON THE MATTER AND WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR AND REASONABLE TO THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR TOP MANAGEMENT OFFICIALS, KEY EMPLOYEES, AND OTHER OFFICERS IS REVIEWED BY THE EXECUTIVE COMMITTEE, WHICH IS MADE UP OF BOARD MEMBERS, ON AN ANNUAL BASIS. THE COMMITTEE MEETS AT THE END OF THE YEAR TO DETERMINE COMPENSATION ADJUSTMENTS. PRIOR TO MEETING, THE CFO PROVIDES THE COMMITTEE WITH A PACKAGE SUMMARIZING COMPENSATION INFORMATION. AT THE MEETING THE EXECUTIVE COMMITTEE REVIEWS, MODIFIES AND/OR APPROVES THE COMPENSATION PACKAGE AS WELL AS COMPARES COMPENSATION LEVELS OF THE ABOVE MENTIONED POSITIONS TO THAT OF SIMILAR POSITIONS IN OTHER ORGANIZATIONS COMPARABLE TO VAIL VALLEY FOUNDATION IN THEIR DETERMINATION TO APPROVE ANY COMPENSATION ADJUSTMENTS FOR THE CEO, KEY EMPLOYEES, AND OTHER OFFICERS FOR THE UPCOMING YEAR. FORM 990, PART VI, SECTION C, LINE 19 VAIL VALLEY FOUNDATION MAKES IT GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: EQUITY TRANSFER TO VILAR CENTER ARTS FOUNDATION -869,985. EQUITY TRANSFER TO MAGIC OF LIGHTS VAIL -250,000. VILAR CENTER ARTS FOUNDATION PO BOX 3822 AVON CO 81620 841316133 PROMOTE AN APPRECIATION OF THE ARTS CO 501(C)(3) LINE 7 VAIL VALLEY FOUNDATION 1 YOUTHPOWER365 PO BOX 6550 AVON CO 81620 841442909 PREPARE CHILDREN IN NEED FOR SUCCESS IN LIFE THROUGH EDUCATION CO 501(C)(3) LINE 7 VAIL VALLEY FOUNDATION 1 VVF EVENTS HOLDING COMPANY INC 90 BENCHMARK RD STE 300 AVON CO 81620 853714412 HOLDING COMPANY CO VAIL VALLEY FOUNDATION C -58363 197710 1.00000 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 VILAR CENTER ARTS FOUNDATION B 61858 COST YOUTHPOWER365 B 413333 COST VILAR CENTER ARTS FOUNDATION R 869985 COST VVF EVENTS HOLDING COMPANY INC R 250000 COST