2020-10-07T07:59:42-05:00 2019-12-31 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2019-01-01 311734086 FRIENDS OF THE HIGH LINE INC FRIE 2122069922 820 WASHINGTON STREET NEW YORK NY 100141406 ROBERT HAMMOND EXECUTIVE DIRECTOR 2122069922 2020-10-06 1 MICHAEL WALLACE P00881958 2126972299 38.142.140.186 2020-10-06 13:33:24 ED P A75ECF90F4EA679C298DF903E96775B34A8C9CB0 5113AD6B164773D5121634EC23FD61D36CB6A590 2019 2021-01-29 14:40:06Z ROBERT HAMMOND 820 WASHINGTON STREET NEW YORK NY 100141406 32791000 0 X WWW.THEHIGHLINE.ORG X 2000 NY FRIENDS OF THE HIGH LINE IS A NON-PROFIT PARK CONSERVANCY RESPONSIBLE FOR MAINTAINING AND OPERATING AN EXTRAORDINARY PUBLIC SPACE ON THE HIGH LINE. THE HIGH LINE IS A 1.45-MILE ELEVATED FREIGHT RAIL LINE TRANSFORMED INTO A PUBLIC PARK ON MANHATTAN'S WEST SIDE. 37 36 210 220 33095 -4889 13212000 12433000 1654000 1124000 4298000 1688000 1695000 2779000 20859000 18024000 4315000 0 0 0 11197000 10565000 159000 77000 2694000 7584000 6564000 23255000 17206000 -2396000 818000 91906000 98297000 3633000 2922000 88273000 95375000 X FRIENDS OF THE HIGH LINE WORKS TO BUILD AND MAINTAIN AN EXTRAORDINARY PUBLIC SPACE ON THE HIGH LINE. WE SEEK TO PROTECT THE ENTIRE HISTORIC STRUCTURE, TRANSFORMING AN ESSENTIAL PIECE OF NEW YORK'S INDUSTRIAL PAST AND INSPIRING NEW WAYS OF THINKING ABOUT THE CITY, PARKS, PUBLIC SPACE, PRESERVATION, AND COMMUNITY. WE PROVIDE VIRTUALLY ALL OF THE HIGH LINE'S ANNUAL OPERATING BUDGET AND ARE RESPONSIBLE FOR THE MAINTENANCE OF THE PARK, PURSUANT TO A LICENSE AGREEMENT WITH THE NEW YORK CITY DEPARTMENT OF PARKS & RECREATION. THROUGH EXCELLENCE IN OPERATIONS, STEWARDSHIP, INNOVATIVE PROGRAMMING, AND WORLD-CLASS DESIGN, WE SEEK TO ENGAGE THE VIBRANT AND DIVERSE COMMUNITY ON AND AROUND THE HIGH LINE. 0 0 4273000 832000 HIGH LINE OPERATIONS: IN 2019, FRIENDS OF THE HIGH LINE ("FHL") SUCCESSFULLY OPERATED AND MAINTAINED SECTIONS 1, 2, AND 3 OF THE PARK, FROM GANSEVOORT STREET TO WEST 34TH STREET. FHL CONTINUED TO FOCUS ON MAINTENANCE, CLEANLINESS AND SAFETY OF THE 1.45 MILE PARK TO ENHANCE THE WORLD-CLASS VISITOR EXPERIENCE FOR APPROXIMATELY 8.3 MILLION PEOPLE, A 15% INCREASE FROM 2018 IN VISITATION. THE PRODUCTION TEAM WORKED ON 186 EVENTS (INCLUDING FILM AND PHOTO SHOOTS) AND THE FACILITIES TEAM OPERATED AND MAINTAINED ALL THE MECHANICAL, ELECTRICAL, AND PLUMBING FEATURES OF THE PARK AND OFFICE HEADQUARTERS. THE HORTICULTURE TEAM MANAGED THE GARDENS ON THE HIGH LINE AND PLANTED OVER 6,182 PLANTS IN 2019. ALL PLANT MATERIAL FROM OUR ANNUAL CUTBACK WAS COMPOSTED IN COLLABORATION WITH A PUBLIC PARTNER AND DISTRIBUTED TO COMMUNITY GARDENS ACROSS THE CITY OF NEW YORK, AS WELL AS USED IN THE PARK. THE CUSTODIAL TEAM COMPLETED 5 MILES OF POWER WASHING FROM JUNE TO OCTOBER AND MAINTAINED CLEAN RESTROOMS YEAR-ROUND. THEY HANDLED 8,500+ BAGS OF RECYCLING AND 55,000+ BAGS OF TRASH WERE COLLECTED. OPERATIONS ALSO WORKED ON ENHANCING SAFETY PROTOCOLS AND INITIATIVES THAT INVOLVED A CLOSER COLLABORATION WITH LOCAL POLICE PRECINCTS AS WELL AS ADJACENT ORGANIZATIONS, INCLUDING COLLABORATIVE TABLE TOP DRILLS. 3469000 358000 PROGRAMMING, ART AND EDUCATION:FHL WELCOMED OVER 25,500 VISITORS TO OVER 316 SCHEDULED PROGRAMS AND ACTIVITIES. FHL HAD OVER 13,000 PARTICIPANTS AT OUR CULTURAL PERFORMANCES AND PUBLIC PROGRAMS. PROGRAMS FOR CHILDREN SERVED APPROXIMATELY 4,000 KIDS AND CAREGIVERS FROM APRIL THROUGH OCTOBER, THROUGH MONTHLY FAMILY PROGRAMMING, INCLUDED PERFORMANCES, ART-MAKING ACTIVITIES, AND PUBLIC WORKSHOPS. HIGH LINE SCHOOL PROGRAMS HOSTED OVER 8,000 STUDENTS AND THEIR TEACHERS FOR 246 SELF-GUIDED TOUR EXPERIENCES. THE HIGH LINE TEEN PROGRAM PROVIDED EMPLOYMENT FOR 20 LOCAL TEENAGERS ENGAGING NEW YORKERS IN INITIATIVES SUCH AS PARTICIPATORY BUDGETING AND THE CENSUS COUNT. THE HIGH LINE EDUCATION DEPARTMENT EXPANDED ITS EDUCATIONAL OFFERINGS TO INCLUDE PARTNERSHIPS WITH A LOCAL ELEMENTARY, MIDDLE, AND HIGH SCHOOL, SERVING OVER 100 STUDENTS IN DIRECT SERVICE CLASSROOM HOURS. FHL ALSO WORKED WITH 200+ VOLUNTEERS WHO SUPPORTED THE ORGANIZATION THROUGH 4,000 HOURS AS DOCENTS, GREETERS, HORTICULTURAL ASSISTANTS, AMBASSADORS AND PHOTOGRAPHERS.FHL EXHIBITED THE WORK OF 50 ARTISTS, INCLUDING 6 VIDEO PROGRAMS, 2 NEWLY COMMISSIONED PERFORMANCES, ITS FIRST VIDEO ART COMMISSION, AND 16 SCULPTURE COMMISSIONS THAT IT HELPED FABRICATE AND INSTALL ON THE HIGH LINE. THE ART DEPARTMENT INSTALLED THE FIRST MONUMENTAL-SCALE SCULPTURE IN THE NEW SECTION OF THE HIGH LINE CALLED THE SPUR. FURTHERMORE, FHL LAUNCHED THE JOINT NETWORK ART & PROGRAMMING INITIATIVE, PRESENTING TWO EXHIBITIONS TRAVELING TO OTHER HIGH LINE NETWORK SITES ACROSS THE US AND CANADA THAT FEATURED 26 NEWLY COMMISSIONED ARTWORKS; THE FIRST EXHIBITION TRAVELED TO HOUSTON, TX; AUSTIN, TX; CHICAGO, IL; AND TORONTO, CANADA; AND THE SECOND TRAVELS IN 2021 TO PHILADELPHIA, PA; AND ATLANTA, GA. FHL CONTINUED ITS WORK ON THE HIGH LINE NETWORK, A GROUP OF INFRASTRUCTURE REUSE PROJECTS-AND THE PEOPLE WHO ARE HELPING THEM COME TO LIFE. FHL EXPANDED THE CAPACITY OF THE NETWORK TEAM, ADDING A COORDINATOR POSITION IN 2019. THE NETWORK ALSO HELD ITS FIRST SYMPOSIUM IN OCTOBER 2019, HOSTING OVER 250 THOUGHT LEADERS IN THE INFRASTRUCTURE REUSE FIELD IN NEW YORK CITY. FHL ALSO CONTINUED ITS WORK WITH NETWORK MEMBERS TO LAUNCH A PILOT IMPLEMENTATION OF AN EQUITABLE IMPACTS FRAMEWORK, PUBLISHED VOLUME 1 OF A BEST PRACTICES TOOLKIT, AND ADDED FOUR NEW MEMBERS. 1995000 0 HIGH LINE PLANNING, CONSTRUCTION AND CAPITAL REPAIRS:IN 2019, FHL COMPLETED WORK ON A MAJOR CAPITAL CONSTRUCTION PROJECT, ADVANCED THE DESIGN PHASES FOR ADDITIONAL SMALL AND LARGE-SCALE PROJECTS, AND COMPLETED A RANGE OF CAPITAL IMPROVEMENTS ON THE EXISTING HIGH LINE AND HEAD LINE HEADQUARTERS BUILDING. CONSTRUCTION ON PHASE II OF SECTION 3 CONTINUED THROUGHOUT THE WINTER/SPRING OF 2019, AND WAS COMPLETED AND OPENED TO THE PUBLIC ON JUNE 4, 2019. MAJOR DESIGN FEATURES OF THIS FINAL SECTION OF THE HIGH LINE INCLUDE LARGE-SCALE PLANTING BEDS, SEATING AREAS AND VIEWING PLATFORMS, PUBLIC RESTROOMS, AND BACK-OF-HOUSE STORAGE SPACES TO SUPPORT THE HIGH LINE'S OPERATIONS TEAM, AS WELL AS THE INSTALLATION OF ARTWORK BRICK HOUSE BY SIMONE LEIGH. IN ADDITION, A CONNECTION WAS CONSTRUCTED AND OPENED TO HUDSON YARDS, PROVIDING ACCESS BETWEEN THE HIGH LINE AND THE HUDSON YARDS PLAZA, ACCESS TO THE 7 LINE SUBWAY, AND THE SHED.FHL CONTINUED PRE-CONSTRUCTION COORDINATION FOR THE 18TH STREET PLAZA, A STREET-LEVEL PARK SPACE THAT WILL INCLUDE LANDSCAPING, SEATING, AND A STAIR/ELEVATOR TO ACCESS THE HIGH LINE. CONSTRUCTION IS SCHEDULED TO BEGIN IN THE FALL OF 2020. IN ADDITION, FHL FINALIZED DESIGN FOR THE RENOVATIONS OF THE RAIL TRACK WALK IN PHASE I OF SECTION 3. THIS PORTION OF THE HIGH LINE WAS DAMAGED DUE TO CONSTRUCTION ADJACENT TO THE HIGH LINE AND IS SCHEDULED TO BE RENOVATED IN SUMMER 2020.FHL STARTED AND COMPLETED MANY CRITICAL CAPITAL PROJECTS ON BOTH THE HIGH LINE AND AT THE HIGH LINE HEADQUARTERS BUILDING AT 820 WASHINGTON STREET. THESE PROJECTS INCLUDED THE REPLACEMENT OF FIBER CABLING AT THE NORTHERN END OF THE HIGH LINE TO SUPPORT THE PARK'S SECURITY INFRASTRUCTURE, REPLACEMENT OF ANTI-GRAFFITI FILM ON THE GLASS RAILINGS THROUGHOUT THE PARK, CODE-REQUIRED UPGRADES TO ALL ELEVATORS, AND STEEL REPAIRS TO THE STAIRS AT 20TH STREET ON THE HIGH LINE. 2188000 805905 RETAIL, VENUE RENTALS AND CONCESSIONS, EXPENSES 2188000 805905 11925000 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 223 0 210 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 37 36 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY CT NJ X THE ORGANIZATION 2122069922 820 WASHINGTON STREET NEW YORK NY 100141406 ROBERT HAMMOND CO-FOUNDER & EXECUTIVE DIRECTOR 40.00 X X 540761 0 98352 MARIO J PALUMBO JR CHAIR 3.00 X X 0 0 0 SUSAN VINIAR VICE CHAIR 3.00 X X 0 0 0 JASON STEWART TREASURER 3.00 X X 0 0 0 PETER S WILSON SECRETARY 3.00 X X 0 0 0 PHILIP E AARONS FOUNDING CHAIR 1.00 X 0 0 0 KAREN ANN HERSKOVITZ MEMBER 1.00 X 0 0 0 JENNIFER ALLAN SOROS MEMBER 1.00 X 0 0 0 JOHN H ALSCHULER JR MEMBER 1.00 X 0 0 0 JOHN BLONDEL MEMBER 1.00 X 0 0 0 AMANDA M BURDEN MEMBER 1.00 X 0 0 0 URSULA M BURNS MEMBER 1.00 X 0 0 0 SHARON DAVIS MEMBER 1.00 X 0 0 0 KRISTEN M DICKEY MEMBER 1.00 X 0 0 0 CHERYL COHEN EFFRON MEMBER 1.00 X 0 0 0 ELLEN FITZSIMMONS MEMBER 1.00 X 0 0 0 ALEXANDRE VON FURSTENBERG MEMBER 1.00 X 0 0 0 GARY HANDEL MEMBER 1.00 X 0 0 0 JEFFREY HARRIS MEMBER 1.00 X 0 0 0 HERMINE RIEGERL HELLER MEMBER 1.00 X 0 0 0 J TOMILSON HILL MEMBER 1.00 X 0 0 0 SANDRA JACKSON-DUMONT MEMBER 1.00 X 0 0 0 WENDY KEYS MEMBER 1.00 X 0 0 0 JANE LAUDER MEMBER 1.00 X 0 0 0 HEATHER MCDOWELL LEVIN MEMBER 1.00 X 0 0 0 CATHERINE C MARRON MEMBER 1.00 X 0 0 0 GIFFORD MILLER MEMBER 1.00 X 0 0 0 SARAH MIN MEMBER 1.00 X 0 0 0 ACKNEIL M MULDROW III MEMBER 1.00 X 0 0 0 DONALD R MULLEN JR MEMBER 1.00 X 0 0 0 MICHAEL PHILLIPS MEMBER 1.00 X 0 0 0 STEVEN RUBENSTEIN MEMBER 1.00 X 0 0 0 DELORES RUBIN MEMBER 1.00 X 0 0 0 MITCHELL SILVER FAICP MEMBER 1.00 X 0 0 0 DARREN WALKER MEMBER 1.00 X 0 0 0 JOANNE WILSON MEMBER 1.00 X 0 0 0 BRONSON VAN WYCK MEMBER 1.00 X 0 0 0 GAIL BELTRONE CHIEF OPERATING OFFICER 40.00 X 284246 0 3489 CLAUDE JOHNSON CHIEF ADVANCEMENT OFFICER 40.00 X 179114 0 3366 TARA MORRIS CHIEF ADVANCEMENT OFFICER-AS OF JULY 40.00 X 133872 0 5060 MAURICIO GARCIA CHIEF PROGRAM & ENGAGEMENT OFFICER 40.00 X 11552 0 0 MELISSA PARSOFF VICE PRESIDENT OF COMMUNICATIONS 40.00 X 191759 0 14768 SANAYA KAUFMAN PRINCIPAL GIFTS OFFICER 40.00 X 167158 0 23095 ADAM GANSER VICE PRESIDENT FOR PLANNING & DESIGN 40.00 X 160985 0 22700 CECILIA ALEMANI CURATOR AND DIRECTOR OF HL ART 40.00 X 159175 0 14811 RAY BAMIDELE OLADAPO-JOHNSON VICE PRESIDENT OF PARK OPERATIONS 40.00 X 138205 0 22925 1966827 0 208566 16 0 1 0 FJ SCIAME CONSTRUCTION CO INC 14 WALL STREET NEW YORK NY 10005 CONSTRUCTION 813913 JAMES CORNER FIELD OPERATIONS 475 TENTH AVE 9TH FLOOR NEW YORK NY 10018 DESIGN 704827 HOU DE SOUSA LLC 41 UNION SQUARE SUITE 1035 NEW YORK NY 10003 CONCESSION CARTS 416581 BITEFOOD LTD 126 UNDERCLIFF AVENUE EDGEWATER NJ 07020 EVENT CATERING 310130 NYC DEPARTMENT OF PARKS AND RECREATION 1234 FIFTH AVENUE 223 NEW YORK NY 10029 PARK SECURITY 287726 14 3672000 381000 8380000 255000 12433000 REPAIRS, MAINTENANCE AND IMPROVEM 713990 729000 729000 SUBLICENSING CONCESSION INCOME 713990 370000 370000 FIELD TRIPS AND WALKING TOURS 713990 25000 25000 1124000 1502000 1502000 1874000 0 1874000 1874000 1874000 13513000 13327000 186000 186000 186000 1094000 3672000 1094000 0 816000 346000 470000 436905 33095 OTHER REVENUE 900099 435000 435000 435000 18024000 1995905 33095 3562000 1201000 127000 814000 260000 7590000 5675000 652000 1263000 144000 109000 10000 25000 1009000 690000 166000 153000 621000 426000 80000 115000 69000 69000 46000 46000 32000 32000 77000 77000 161000 161000 1231000 662000 341000 228000 90000 57000 8000 25000 128000 109000 2000 17000 128000 106000 10000 12000 369000 205000 46000 118000 251000 213000 12000 26000 67000 29000 32000 6000 HIGH LINE CONSTRUCTION 1174000 1174000 ART PRODUCTION 990000 990000 SUPPLIES 479000 356000 29000 94000 UBI TAX EXPENSE 28000 0 28000 0 1321000 997000 81000 243000 17206000 11925000 2587000 2694000 1905000 2644000 480000 58000 23624000 24852000 506000 392000 161000 163000 1878000 1168000 449000 710000 57881000 61311000 6900000 8167000 91906000 98297000 2335000 1304000 1142000 1325000 156000 293000 3633000 2922000 X 55910000 61527000 32363000 33848000 88273000 95375000 91906000 98297000 818000 6284000 0 X X 0 1 X 1 0 X 18102479 14168068 15600000 13212000 12433000 73515547 18102479 14168068 15600000 13212000 12433000 73515547 10218669 63296878 2290195 3709622 3404000 2692000 3376000 15471817 2449 12976 15425 89002789 11583658 0.71120 0.77020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 7233 0 0 7233 0 PART II-B, LINE 1: IN 2019, FHL STAFF ENGAGED IN LOBBYING ACTIVITIES WITH REPRESENTATIVES FROM VARIOUS NYC AND NYS AGENCIES REGARDING HIGH LINE MAINTENANCE AND OPERATIONS, HIGH LINE PROGRAMMING, COMMUNITY RELATIONS AND ENGAGEMENT, AND SOLICITATION OF FUNDS. 44981000 7241000 527000 51695000 49168000 62000 -2938000 1311000 44981000 40501183 3802000 5544817 680000 49168000 34829904 3505000 2166279 40501183 29668788 6283139 -546287 575736 34829904 0.85900 0.11300 0.02800 0 0 1568000 918000 650000 310000 250000 60000 710000 HEDGE FUNDS 4989000 F PRIVATE EQUITY FUNDS 3178000 F 8167000 REFUNDABLE DEPOSITS PAYABLE 117000 SECTION 457 RETIREMENT PLAN PAYABLE 176000 293000 24395000 6284000 248000 6532000 17863000 161000 161000 18024000 17293000 248000 248000 17045000 161000 161000 17206000 PART V, LINE 4: THE ENDOWMENT FOR SUSTAINABILITY IS USED TO SUPPORT THE OPERATIONS OF THE HIGH LINE INCLUDING, BUT NOT LIMITED TO, HORTICULTURE, MAINTENANCE, VISITOR SERVICES, PUBLIC PROGRAMS, PUBLIC ART COMMISSIONS, AND SCHOOL AND YOUTH PROGRAMS. THE HORTICULTURE AND STEWARDSHIP FUND IS USED TO SUPPORT THE HORTICULTURE CARE AND GENERAL MAINTENANCE OF THE PUBLIC PARK ON THE HIGH LINE. THE PUBLIC PROGRAMS FUND IS USED TO SUPPORT PUBLIC PROGRAMS ON THE PARK, INCLUDING THE HIGH LINE TEEN JOB PROGRAM, SCHOOL FIELD TRIPS, AND PUBLIC ART PROJECTS. THE BOARD DESIGNATED HIGH LINE FUND IS USED TO SUSTAIN THE PARK'S LONG-TERM MAINTENANCE AND OPERATIONS. X X X X X X 1 MKDM 612 EAST JEFFERSON STREET CHARLOTTESVILLE VA 22902 DIRECT RESPONSE STRATEGY COUNSEL 0 1301410 76525 1224885 1301410 76525 1224885 NY CT NJ BENEFIT DINNER 3365000 2634000 731000 391000 310000 2000 29000 ART DINNER 1225000 1003000 222000 116000 90000 16000 1 176000 35000 141000 53000 75000 12000 4766000 3672000 1094000 560000 475000 14000 45000 1094000 0 X X X X X X 0 1 0 0 0 0 0 0 0 ROBERT HAMMOND CO-FOUNDER & EXECUTIVE DIRECTOR 452464 0 70000 0 18297 0 78000 0 20352 0 639113 0 0 0 GAIL BELTRONE CHIEF OPERATING OFFICER 282970 0 1000 0 276 0 3000 0 489 0 287735 0 0 0 CLAUDE JOHNSON CHIEF ADVANCEMENT OFFICER 179114 0 0 0 0 0 0 0 3366 0 182480 0 0 0 MELISSA PARSOFF VICE PRESIDENT OF COMMUNICATIONS 190672 0 1000 0 87 0 3000 0 11768 0 206527 0 0 0 SANAYA KAUFMAN PRINCIPAL GIFTS OFFICER 166067 0 1000 0 91 0 3000 0 20095 0 190253 0 0 0 ADAM GANSER VICE PRESIDENT FOR PLANNING & DESIGN 159812 0 1000 0 173 0 3000 0 19700 0 183685 0 0 0 CECILIA ALEMANI CURATOR AND DIRECTOR OF HL ART 158067 0 1000 0 108 0 3000 0 11811 0 173986 0 0 0 RAY BAMIDELE OLADAPO-JOHNSON VICE PRESIDENT OF PARK OPERATIONS 137075 0 1000 0 130 0 3000 0 19925 0 161130 0 0 0 PART I, LINE 4B THE ORGANIZATION MAINTAINS A 457(B) DEFERRED COMPENSATION PLAN FOR CERTAIN ELIGIBLE EMPLOYEES. $18,000 OF DEFERRED COMPENSATION EXPENSE WAS INCURRED IN 2019 AND THAT AMOUNT WAS CONTRIBUTED TO ROBERT HAMMOND'S PLAN. VAN WYCK & VAN WYCK COMPANY OWNED BY BOARD MEMBER, BRONSON VAN WYCK 166000 RENTALS, DECOR, AND OTHER EXPENSES RELATED TO SPECIAL EVENTS 0 X 8 255000 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 TWO BOARD MEMBERS, PHILIP AARONS AND MARIO PALUMBO, ARE PARTNERS IN THE SAME FOR-PROFIT CORPORATION. A THIRD BOARD MEMBER, GARY HANDEL, PROVIDES SERVICES TO THEIR CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS PREPARED BY THE ORGANIZATION'S SENIOR DIRECTOR OF FINANCE AND REVIEWED BY THE CHIEF OPERATING OFFICER. THE 990 IS THEN FORWARDED TO THE ORGANIZATION'S ACCOUNTING FIRM FOR FINAL REVIEW. THE SENIOR DIRECTOR OF FINANCE PRESENTS THE 990 TO THE AUDIT AND FINANCE COMMITTEE OF THE BOARD. THE 990 IS THEN MADE AVAILABLE TO BOARD MEMBERS FOR REVIEW AT A BOARD MEETING BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C TO ENSURE THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES ITS CONFLICTS OF INTEREST POLICY, EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH POWERS DELEGATED BY THE BOARD SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS SUCH PERSON: A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; B) HAS READ AND UNDERSTANDS THE POLICY; C) HAS AGREED TO COMPLY WITH THE POLICY; D) HAS COMPLETED, REVIEWED OR UPDATED THEIR CONFLICT OF INTEREST DISCLOSURE E) UNDERSTANDS THAT FHL IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE AUDIT AND FINANCE COMMITTEE OVERSEES THE IMPLEMENTATION OF, AND COMPLIANCE WITH, FHL'S CONFLICTS OF INTEREST POLICY. UPON THE FIRST KNOWLEDGE BY AN INTERESTED PERSON THAT FHL OR THE BOARD OR A COMMITTEE THEREOF IS CONSIDERING OR HAS CONSIDERED A TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT WITH AN ENTITY OR INDIVIDUAL IN WHICH THE INTERESTED PERSON HAS AN INTEREST, THE INTERESTED PERSON MUST DISCLOSE IN GOOD FAITH THE EXISTENCE OF, AND MATERIAL FACTS CONCERNING, HIS OR HER INTEREST TO THE AUDIT AND FINANCE COMMITTEE OF THE BOARD (THE "AUDIT COMMITTEE"). THE AUDIT COMMITTEE SHALL THEN DETERMINE, BY A VOTE OF NOT LESS THAN A MAJORITY OF THE MEMBERS OF THE AUDIT COMMITTEE PRESENT AT THE MEETING, WHETHER THE TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT IS FAIR, REASONABLE AND IN THE BEST INTERESTS OF FHL AT THE TIME OF SUCH DETERMINATION AND SHALL MAKE A DECISION WHETHER TO ENTER INTO THE TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT IN ACCORDANCE WITH SUCH DETERMINATION. WITH RESPECT TO ANY RELATED PARTY TRANSACTION IN WHICH AN INTERESTED PERSON OR HIS OR HER RELATED PARTIES HAS A SUBSTANTIAL FINANCIAL INTEREST, IN DETERMINING WHETHER THE TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT IS FAIR, REASONABLE AND IN THE BEST INTERESTS OF FHL, THE AUDIT COMMITTEE SHALL REVIEW AVAILABLE INFORMATION REGARDING THE COST AND BENEFIT OF COMPARABLE ALTERNATIVE TRANSACTIONS, AGREEMENTS OR OTHER ARRANGEMENTS, IF ANY. FORM 990, PART VI, SECTION B, LINE 15 BEFORE THE START OF EACH FISCAL YEAR, THE ORGANIZATION'S COMPENSATION COMMITTEE COMPARES THE PROPOSED COMPENSATION OF EACH MEMBER OF THE EXECUTIVE TEAM WITH PEER NON-PROFIT ORGANIZATIONS. THE COMMITTEE ALSO EVALUATES EACH EXECUTIVE TEAM MEMBER'S PERFORMANCE TO ENSURE THAT PROPOSED ANNUAL INCREASES ARE APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 BY WRITTEN REQUEST. FORM 990, PART XII, LINE 1: AMOUNTS REFLECTED IN THE 2019 FORM 990 FOR THE YEAR ENDED DECEMBER 31, 2019 HAVE BEEN ROUNDED TO THE NEAREST THOUSAND TO CONFORM WITH THE PRESENTATION IN FHL'S AUDITED FINANCIAL STATEMENTS.