2020-08-14T14:55:49-05:00 2019-09-30 Grant Thornton LLP 515 S Flower Street 7th Floor Los Angeles CA 90071 990 2018-10-01 951696734 Los Angeles Philharmonic Association % KAREN STURGES LOSA 2139727300 151 South Grand Avenue Los Angeles CA 90012 KAREN STURGES CFO 2020-08-14 true QI WEN LIANG P01270238 2136271717 2020-08-13 199.247.107.123 95361120202275000001 2020-08-14 P 85285106D67D06EDFF820F5FFC2BA856D01BFB4B 85285106D67D06EDFF820F5FFC2BA856D01BFB4B 2018 2020-09-23 17:36:50Z KAREN STURGES 151 South Grand Avenue Los Angeles CA 90012 259101130 false X www.laphil.com X 1934 CA LA Philharmonic Association's mission is to perform, present, and promote music in its many varied forms at the higest level of excellence to a large & diverse audience. 60 60 2696 856 139265 114844 58093781 66047501 111148892 109826641 22301494 11968982 -691544 -676834 190852623 187166290 0 517474 0 0 76154493 83829230 617350 682629 6921785 82303321 81225292 159075164 166254625 31777459 20911665 417446115 414000405 55594931 59619699 361851184 354380706 The mission of the Los Angeles Philharmonic Association is to perform, present, and promote music in its many varied forms at the highest level of excellence to a large and diverse audience. false false 111911089 0 75506942 Performances at the Walt Disney Concert Hall and Hollywood Bowl by the Los Angeles Philharmonic Orchestra, the Hollywood Bowl Orchestra, and various pop, jazz, and world artists, as well as domestic and international tours by the Los Angeles Philharmonic Orchestra. 7448800 517474 442426 Training of and performances by Youth Orchestra Los Angeles. 21826470 0 34235452 Other performances including lease events hosted by third-party promoters, as well as other performance-related activities including concessions, parking, recording, and royalties. 141186359 true true false false false false false false false true true true false false true true false true false false true false false true true false false true false true false false false false false false false false true false false false false true true true false false true 622 0 true 2696 true true true false false false false true true false false false false false false X 60 60 true false false false false false false true true false true true true true true true true true true true false CA X KAREN STURGES 2139727300 151 S GRAND AVENUE Los Angeles CA 90012 X GREGORY A ADAMS DIRECTOR 1.0 0.0 X 0 0 0 JULIE ANDREWS DIRECTOR 1.0 0.0 X 0 0 0 WALLIS ANNENBERG DIRECTOR 1.0 0.0 X 0 0 0 THOMAS BECKMEN board chair 1.0 0.0 X X 0 0 0 DAVID C BOHNETT CHAIR, CAMP. & VICE CHAIR,EXEC 1.0 0.0 X X 0 0 0 LYNN A BOOTH DIRECTOR 1.0 0.0 X 0 0 0 REVETA F BOWERS DIRECTOR 1.0 0.0 X 0 0 0 LINDA P BRITTAN DIRECTOR 1.0 0.0 X 0 0 0 JENNIFER BRODER DIRECTOR 1.0 0.0 X 0 0 0 KAWANNA BROWN DIRECTOR 1.0 0.0 X 0 0 0 ANDREA CHAO-KHARMA DIRECTOR 1.0 0.0 X 0 0 0 R Martin Chavez DIRECTOR 1.0 0.0 X 0 0 0 CHRISTIAN CHIVAROLI DIRECTOR 1.0 0.0 X 0 0 0 DAN CLIVNER DIRECTOR 1.0 0.0 X 0 0 0 MARI L DANIHEL DIRECTOR 1.0 0.0 X 0 0 0 DONALD P DE BRIER CHAIR, AUDIT 1.0 0.0 X 0 0 0 KENNETH M DORAN DIRECTOR (Thru 12/2018) 1.0 0.0 X 0 0 0 JERROLD L EBERHARDT Vice chair exec & chair advan. 1.0 0.0 X X 0 0 0 LOUISE D EDGERTON DIRECTOR 1.0 0.0 X 0 0 0 JANE B EISNER VICE chair & CHAIR, GOVERNANCE 1.0 0.0 X X 0 0 0 LISA FIELD DIRECTOR 1.0 0.0 X 0 0 0 JOSHUA FRIEDMAN DIRECTOR 1.0 0.0 X 0 0 0 Frank Gehry DIRECTOR 1.0 0.0 X 0 0 0 David Gindler DIRECTOR 1.0 0.0 X 0 0 0 JENNIFER MILLER GOFF DIRECTOR 1.0 0.0 X 0 0 0 LENORE S GREENBERG DIRECTOR 1.0 0.0 X 0 0 0 CAROL COLBURN GRIGOR CO-CHAIR, CAMPAIGN 1.0 0.0 X 0 0 0 PIERRE HABIS DIRECTOR (Thru 11/2018) 1.0 0.0 X 0 0 0 MEGAN HERNANDEZ DIRECTOR 1.0 0.0 X 0 0 0 TEENA HOSTOVICH DIRECTOR 1.0 0.0 X 0 0 0 JONATHAN KAGAN CO-CHAIR OVERSEERS, VC BOWL 1.0 0.0 X 0 0 0 SARAH KETTERER DIRECTOR 1.0 0.0 X 0 0 0 DARIOUSH KHALEDI DIRECTOR 1.0 0.0 X 0 0 0 Louise Peebles DIRECTOR 1.0 0.0 X 0 0 0 Virginia Mancini DIRECTOR 1.0 0.0 X 0 0 0 DANA MAREVICH DIRECTOR (Thru 09/2019) 1.0 0.0 X 0 0 0 Bowen H McCoy DIRECTOR 1.0 0.0 X 0 0 0 DAVID MELINE VC EXEC & CHAIR FIN and INVEST 1.0 0.0 X X 0 0 0 Francois Mobasser DIRECTOR 1.0 0.0 X 0 0 0 MARGARET MORGAN DIRECTOR 1.0 0.0 X 0 0 0 YOUNES NAZARIAN DIRECTOR (Thru 03/2019) 1.0 0.0 X 0 0 0 BECKY NOVY CHAIR, AFFILIATES(Thru 06/2019 1.0 0.0 X 0 0 0 LEITH O'LEARY DIRECTOR 1.0 0.0 X 0 0 0 DIANE B PAUL CO-CHAIR, CAMPaign & VC EXEC 1.0 0.0 X X 0 0 0 R Joseph Plascencia DIRECTOR 1.0 0.0 X 0 0 0 SANDY PRESSMAN DIRECTOR 1.0 0.0 X 0 0 0 JAY RASULO VICE CHAIR & CHAIR EXEC 1.0 0.0 X X 0 0 0 ANN RONUS DIRECTOR 1.0 0.0 X 0 0 0 JENNIFER ROSENFELD DIRECTOR 1.0 0.0 X 0 0 0 LAURA ROSENWALD DIRECTOR 1.0 0.0 X 0 0 0 NANCY S SANDERS CHAIR, EDUCATION & COMMUNITY 1.0 0.0 X 0 0 0 ERIC L SMALL DIRECTOR 1.0 0.0 X 0 0 0 GABRIELLE STARR DIRECTOR 1.0 0.0 X 0 0 0 JAY STEIN DIRECTOR 1.0 0.0 X 0 0 0 LISA J STEVENS DIRECTOR (Thru 10/2018) 1.0 0.0 X 0 0 0 CHRISTIAN STRACKE DIRECTOR 1.0 0.0 X 0 0 0 JASON SUBOTKY DIRECTOR 1.0 0.0 X 0 0 0 DR RONALD D SUGAR CHAIR, ACCESS & INCLUSION 1.0 0.0 X 0 0 0 Vikki Sung DIRECTOR 1.0 0.0 X 0 0 0 JACK SUZAR CHAIR, BOARD OF OVERSEERS 1.0 0.0 X 0 0 0 SUE TSAO DIRECTOR 1.0 0.0 X 0 0 0 JON VEIN DIRECTOR 1.0 0.0 X 0 0 0 Megan Watanabe DIRECTOR 1.0 0.0 X 0 0 0 ALYCE DE ROULET WILLIAMSON DIRECTOR 1.0 0.0 X 0 0 0 IRWIN WINKLER DIRECTOR 1.0 0.0 X 0 0 0 Debra Wong Yang DIRECTOR 1.0 0.0 X 0 0 0 LAURA CONNELLY VP OF PRESENTATIONS 40.0 0.0 X 302205 0 84438 KATHLEEN KANE CHIEF ADVANCEMENT OFFICER 40.0 0.0 X 491907 0 42734 Elsje Kible-Vermass VP Learning 40.0 0.0 X 123272 0 38788 Phil Koester VP of Marketing 40.0 0.0 X 110558 0 8949 Meghan Martineau VP Artistic Planning 40.0 0.0 X 194859 0 47198 MONA PATEL VP, HR and GEN.COUNSEL & secr. 40.0 1.0 X 376303 0 61691 CHAD SMITH CHIEF OPERATIONS OFFICER 40.0 1.0 X 576906 0 78088 DANIEL SONG VP OF PHIL & PRODUCTION 40.0 0.0 X 266210 0 63386 ALISON SOWDEN VP & CFO 40.0 1.0 X 421550 0 14126 SIMON WOODS CEO 40.0 0.0 X 855136 0 42372 Gail Samuel Executive Director 40.0 0.0 X 602164 0 105609 GUSTAVO DUDAMEL MUSIC & ARTISTIC DIRECTOR 40.0 0.0 X 2825000 0 30012 MARTIN CHALIFOUR PRINCIPAL CONCERTMASTER 40.0 0.0 X 531784 0 31294 Nathan Cole First Associate Concertmaster 40.0 0.0 X 338638 0 41052 Thomas Hooten Principal Trumpet 40.0 0.0 X 335091 0 36052 KEVIN R WAPNER STAGEHAND 50.0 0.0 X 350891 0 1185 ANDREW BAIN PRINCIPAL MUSICIAN 40.0 0.0 X 331160 0 41052 Shana Mathur Chief Market. Off.(Thru 03/18) 40.0 0.0 X 275733 0 42216 9309367 0 810242 186 true true false Contemporary Services Corporation PO Box 5111282 LOS ANGELES CA 90051 Security 3697963 SDA Teleservices 5757 W Century Boulevard LOS ANGELES CA 90045 Fundraising 1819067 Transit Systems Unlimited 8976 Laurel Canyon SUN VALLEY CA 91352 Shuttles & Buses 1784966 Centro Inc 11 E Madison Street CHICAGO IL 60602 Advertising 1760761 Palisades Media Group Inc 1601 Cloverfield Boulevard SANTA MONICA CA 90404 Advertising 1136945 123 4241670 801830 61004001 1188422 66047501 CONCERTS 711310 75949368 75949368 0 0 CONCERTS BY OTHERS 711310 18441432 18441432 0 0 CONCESSION/PARKING 812930 10284293 0 0 10284293 BOX OFFICE SERVICE FEE 561599 4247888 0 0 4247888 RECORDING/ROYALTIES 900099 545484 0 0 545484 358176 213398 0 144778 109826641 6604181 -1283 6605464 0 0 0 0 0 73692382 68327581 5364801 5364801 5364801 630091 4241670 1811502 -1181411 -1181411 5850 0 5850 5850 2294484 1795757 498727 358179 140548 0 187166290 94962377 139265 26017147 517474 517474 0 0 0 9618193 7807350 1256443 554400 0 56644431 45878356 7509097 3256978 4554112 3823925 457592 272595 8467904 7110198 850844 506862 4544590 3815930 456635 272025 0 571482 205330 364616 1536 303104 303104 0 682629 682629 1018493 1018493 35186359 32776688 2129814 279857 6542208 6343888 75143 123177 6424167 4591424 1244147 588596 286482 29987 254795 1700 757745 750198 7547 4774975 4718621 52957 3397 5158948 5021874 99298 37776 0 104168 55098 15524 33546 30772 21293 9479 0 5530376 4355035 1175341 576949 470078 106871 LEASE EVENT EXPENSE 7539177 7539177 0 0 SUPPLIES 1924263 1507765 361601 54897 EQUIPMENT RENTAL 1719158 1621907 86156 11095 CREDIT CARD COMMISSIONS 1569771 1478001 0 91770 1206695 746762 310984 148949 166254625 141186359 18146481 6921785 18718025 8738982 9737071 5114655 43712468 39574550 0 0 0 0 0 0 0 15912400 465583 444981 9548335 13154277 95146745 44437724 54098915 50709021 227084000 241042300 54081718 39309239 0 0 0 0 0 0 417446115 414000405 14929686 14584623 0 0 28248510 25436805 0 0 0 0 0 0 0 0 0 5000000 12416735 14598271 55594931 59619699 X 146777138 139391845 56531683 39313630 158542363 175675231 361851184 354380706 417446115 414000405 X 20911665 -3801654 -22128022 -2452467 X false true X true false X 78488467 44156830 62163608 58093781 66047501 308950187 86181212 95833026 102790983 111148892 109826641 505780754 0 0 0 164669679 139989856 164954591 169242673 175874142 814730941 43148172 10853488 25887771 20036963 12257332 112183726 3892684 11614862 1791078 15537956 32836580 43148172 14746172 37502633 21828041 27795288 145020306 669710635 1383546 1356662 2435762 6112725 6605464 17894159 76157 130181 132801 142005 139265 620409 1459703 1486843 2568563 6254730 6744729 18514568 0 0 166129382 141476699 167523154 175497403 182618871 833245509 0.80374 0.81210 0.02222 0.01650 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 280528057 19566972 10347566 12826198 297616397 265776321 11165501 14560835 10974600 280528057 231856477 14426393 28005017 8511566 265776321 207131273 22239320 11564440 9078556 231856477 200771876 15879665 -1580034 7940234 207131273 0.36670 0.52090 0.11240 true false 0 0 65439425 24004394 41435031 17036638 12891584 4145054 12670682 7541746 5128936 50709021 PARTNERSHIP INTEREST & OTHER 39309239 F 39309239 0 PENSION & POST-RET MEDICAL BENEFIT COST 12763302 DEFERRED COMP. PLAN & OTHER PAYABLES 1834969 14598271 X Schedule D, Part V, Line 4 The endowment funds support education and music programs, and the mission of the association. Schedule D, Part X, Line 2 FIN 48 (ASC 740) FOOTNOTE THE ASSOCIATION RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE CONSOLIDATED FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE ASSOCIATION HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. THE ASSOCIATIONS POLICY IS TO RECOGNIZE POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE, IF ANY. DURING THE YEARS ENDED SEPTEMBER 30, 2019 AND 2018, THE ASSOCIATION PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AND DID NOT NOTE ANY MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS, OR WHICH MAY HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. Europe (Including Iceland and Greenland) Program Services ORCHESTRAL TOUR 1976540 East Asia and the Pacific Program Services ORCHESTRAL TOUR 3086884 5063424 5063424 true false false false false false X X X X X X X true SDA Teleservices Inc 5757 W Century Boulevard LA CA 90045 Telefund true 1014877 682629 332248 1014877 682629 332248 CA Winter Gala 3049320 2725220 324100 625 3188 3171 215397 Summer Gala 1822441 1516450 305991 185487 632732 770902 0 4871761 4241670 630091 625 188675 635903 986299 1811502 -1181411 true Inglewood Community Programs 151 South Grand Ave Los Angeles CA 90012 842630102 501(C)(3) 517474 CONSTRUCTION 1 SCHEDULE I, PART I, LINE 2: THE ASSOCIATION MADE A CONTRIBUTION TO INGLEWOOD COMMUNITY PROGRAMS ("ICP") (AND WILL MAKE ADDITIONAL CONTRIBUTIONS IN FY2020 AND FY2021) TO FUND THE CONSTRUCTION OF THE BUILDING IN INGLEWOOD. THE ASSOCIATION CONTROLS ICP BY GUARANTEEING ITS DEBT AND APPOINTING 3/5 OF THE BOARD MEMBERS. ADDITIONALLY, THE ASSOCIATION MANAGEMENT OVERSEES THE CONSTRUCTION. X X X X true true X X X X true true false false false false false true false LAURA CONNELLY VP OF PRESENTATIONS 247205 0 55000 0 0 0 59185 0 27344 0 388734 0 0 0 KATHLEEN KANE CHIEF ADVANCEMENT OFFICER 391907 0 100000 0 0 0 42734 0 2090 0 536731 0 0 0 Elsje Kible-Vermass VP Learning 120155 0 3117 0 0 0 3776 0 37103 0 164151 0 0 0 Meghan Martineau VP Artistic Planning 179808 0 15051 0 0 0 12186 0 37103 0 244148 0 0 0 Shana Mathur Chief Market. Off.(Thru 03/18) 102589 0 0 0 173144 0 7204 0 37102 0 320039 0 0 0 MONA PATEL VP, HR and GEN.COUNSEL & secr. 321303 0 55000 0 0 0 49722 0 14060 0 440085 0 0 0 CHAD SMITH CHIEF OPERATIONS OFFICER 456906 0 120000 0 0 0 66118 0 14060 0 657084 0 0 0 DANIEL SONG VP OF PHIL & PRODUCTION 221210 0 45000 0 0 0 40216 0 25261 0 331687 0 0 0 ALISON SOWDEN VP & CFO 346550 0 75000 0 0 0 12087 0 2396 0 436033 0 0 0 SIMON WOODS CEO 639474 0 100000 0 115662 0 10000 0 32372 0 897508 0 0 0 GUSTAVO DUDAMEL MUSIC & ARTISTIC DIRECTOR 2825000 0 0 0 0 0 0 0 32103 0 2857103 0 0 0 MARTIN CHALIFOUR PRINCIPAL CONCERTMASTER 522816 0 0 0 8968 0 6040 0 26413 0 564237 0 0 0 Nathan Cole First Associate Concertmaster 329738 0 0 0 8900 0 6040 0 36172 0 380850 0 0 0 Thomas Hooten Principal Trumpet 326123 0 0 0 8968 0 6040 0 31172 0 372303 0 0 0 Gail Samuel Executive Director 495599 0 106565 0 0 0 70597 0 37103 0 709864 0 0 0 KEVIN R WAPNER STAGEHAND 350891 0 0 0 0 0 164 0 1021 0 352076 0 0 0 ANDREW BAIN PRINCIPAL MUSICIAN 322444 0 0 0 8716 0 6040 0 36172 0 373372 0 0 0 Schedule J, Part I, Line 1a: QUESTIONS REGARDING COMPENSATION FIRST CLASS OR CHARTER TRAVEL: FIRST CLASS TRAVEL IS PROVIDED TO ONE OFFICER AND ONE KEY EMPLOYEE WHEN THE TIMING OF THE TRIP REQUIRES THEY GO DIRECTLY TO WORK UPON ARRIVAL. THIS IS EXTENDED TO OTHER MEMBERS OF THE EXECUTIVE TEAM WHEN APPROPRIATE. THIS BENEFIT IS CONSIDERED A BUSINESS EXPENSE AND NOT INCLUDED IN TAXABLE COMPENSATION. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: TWO OFFICERS RECEIVED GROSS-UP PAYMENTS DUE TO THEIR RELOCATION REIMBURSEMENTS, WHICH IS INCLUDED AS TAXABLE COMPENSATION REPORTED ON FORM W-2. HOUSING ALLOWANCE: ONE OFFICER RECEIVED A HOUSING ALLOWANCE, WHICH IS INCLUDED AS TAXABLE COMPENSATION REPORTED ON FORM W-2. UNDER THE TERMS OF THE COLLECTIVE BARGAINING AGREEMENT, MEMBERS OF LOCAL 47, AMERICAN FEDERATION OF MUSICIANS (THE "MUSICIANS UNION"), RECEIVE A WEEKLY HOUSING ALLOWANCE, WHICH IS INCLUDED AS TAXABLE COMPENSATION REPORTED ON FORM W-2. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: ONE OFFICER RECEIVED A PARTIAL REIMBURSEMENT OF THEIR SOCIAL CLUB DUES AS IT WAS EXPECTED THAT THEY MEET WITH DONORS. THIS BENEFIT IS CONSIDERED A BUSINESS EXPENSE AND NOT INCLUDED IN TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 4A SEVERANCE PAYMENT A LISTED INDIVIDUAL RECEIVED A SEVERANCE PAYMENT DURING CALENDAR YEAR 2018. HOWEVER, PER A CONFIDENTIALITY AGREEMENT SIGNED BY THE ORGANIZATION, THE SEVERANCE PACKAGE PAID TO EMPLOYEES ARE NOT OPEN FOR PUBLIC INSPECTION. SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN THE ASSOCIATION PROVIDES CERTAIN SENIOR EXECUTIVES WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) TO SUPPLEMENT THEIR RETIREMENT BENEFITS. UNDER THE TERMS OF THE SERP, PARTICIPANTS RECEIVE A CONTRIBUTION TO THE PLAN EACH CALENDAR YEAR. A PARTICIPANT BECOMES VESTED IN THE PLAN THE EARLIER OF: (A) JANUARY 1, 2020; (B) DEATH; (C) PERMANENT DISABILITY; OR (D) INVOLUNTARY SEVERANCE WITHOUT CAUSE. AMOUNTS CREDITED UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (C). NO AMOUNTS WERE PAID UNDER THE SERP IN 2018. Schedule J, Part I, Line 7 NON-FIXED PAYMENTS CERTAIN LISTED INDIVIDUALS RECEIVE BONUSES AT THE DISCRETION OF THE BOARD OF DIRECTORS. THESE BONUSES ARE INCLUDED IN SCHEDULE J, PART II, COLUMN(B)(II). X 103 1188422 FMV false true false Schedule M, Line 32b: A third-party brokerage company sells donated stocks once they are received by the organization. FORM 990, PART VI, SECTION A, LINE 1: THE EXECUTIVE COMMITTEE FORMULATES, SUPERVISES, AND IMPLEMENTS THE POLICIES OF THE CORPORATION UNDER THE DIRECTION OF THE BOARD OF DIRECTORS. MEMBERS ARE APPOINTED TO THE EXECUTIVE COMMITTEE, WHICH CONSISTS OF THE CHAIRMAN OF THE BOARD, VICE CHAIRS, AND THE CHAIRS OF THE MAJOR COMMITTEES. ADDITIONAL DIRECTORS MAY BE APPOINTED BY THE CHAIRMAN AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2: Kathleen Kane and Jerrold L. Eberhardt have a family relationship. FORM 990, PART VI, SECTION B, LINE 11B: THE DRAFT FORM 990 IS PROVIDED TO THE AUDIT COMMITTEE FOR THEIR REVIEW. THE AUDIT COMMITTEE IS GIVEN TIME TO PROVIDE INQUIRIES AND RECOMMEND ANY CHANGES NEEDED, THEN APPROVES THE FORM 990 FOR FILING. THE FINAL DRAFT OF THE FORM IS MADE AVAILABLE TO THE BOARD OF DIRECTORS PRIOR TO ELECTRONIC FILING. FORM 990, PART VI, SECTION B, LINE 12C: THE ORGANIZATION SENDS A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY TO THE BOARD OF DIRECTORS, OFFICERS, AND KEY EMPLOYEES. THE QUESTIONNAIRES ARE REVIEWED TO ENSURE THEY ARE COMPLIANT WITH THE POLICY. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE ORGANIZATION WILL COORDINATE WITH THE VICE PRESIDENT OF HUMAN RESOURCES/LEGAL AND THE BOARD OF DIRECTORS TO RESOLVE. FORM 990, PART VI, SECTION B, LINE 15: THE COMPENSATION COMMITTEE OF INDEPENDENT DIRECTORS REVIEWS AND APPROVES IN ADVANCE THE COMPENSATION PACKAGE FOR OFFICERS AND KEY EMPLOYEES BASED ON A COMPARATIVE ANALYSIS OF THE COMPENSATION OF SIMILARLY SITUATED OFFICERS AND EMPLOYEES AT SIMILAR ORGANIZATIONS PREPARED INTERNALLY WITH THE PERIODIC ASSISTANCE OF A QUALIFIED INDEPENDENT COMPENSATION CONSULTANT. FOR THE PRESIDENT AND CEOS EMPLOYMENT CONTRACT, THE COMPENSATION COMMITTEE ENGAGED AN INDEPENDENT COMPENSATION CONSULTANT TO PROVIDE A DETAILED COMPARATIVE ANALYSIS OF OTHER CEO COMPENSATION AT SIMILAR ORGANIZATIONS TO SUPPORT THE REASONABLENESS OF HIS TOTAL COMPENSATION PACKAGE. THE COMPENSATION TERMS AND THE RESULTS OF BOTH THE INTERNAL AND INDEPENDENT COMPENSATION ANALYSES WERE THEN REVIEWED AND DISCUSSED IN DETAIL WITH THE INPUT OF THE COMPENSATION CONSULTANT AND APPROVED IN ADVANCE BY AN AUTHORIZED BODY OF INDEPENDENT DIRECTORS. FINALLY, THE ENTIRE PROCESS WAS CONCURRENTLY DOCUMENTED DETAILING THE ANALYSIS AND BASIS FOR THE COMPENSATION DETERMINATION. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATION RETURNS, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part XI, Line 5 During FY2019, there were considerable sales of investments that had appreciated significantly compared to original cost. As the appreciated market value was realized, the unrealized gain postition was reduced, resulting in the recognition of unrealized losses of $3,801,654 in the FY2019 audited financial statements. In accordance with the 990 instructions, these losses are not included on Part VIII of the Form 990. FORM 990, PART XI, LINE 8 INVESTMENTS HELD AT THE MUSIC CENTER FOUNDATION THAT WERE PREVIOUSLY INCLUDED WITHIN INVESTMENTS - OTHER SECURITIES ARE NO LONGER REPORTED ON PART X, AS THEY ARE REPORTED ON THE AUDITED FINANCIAL STATEMENTS AS BENEFICIAL INTERESTS. THIS CHANGE WAS MADE BASED ON GUIDANCE PROVIDED BY NEW AUDITORS. FORM 990, PART XI, LINE 9 Pension Plans Actuarial Changes - ($2,461,500) Rounding - $9,033 ------------ TOTAL - ($2,452,467) ============ Inglewood Community Programs 151 South Grand Ave Los Angeles CA 90012 842630102 Real Estate CA 501(c)(3) 12-I LAPA true false true false true false false true false false false false false false false false false false false false Inglewood Community Programs b 517474 FMV Inglewood Community Programs d 22425000 FMV Inglewood Community Programs g 9217474 FMV