2020-11-11T13:39:19-06:00 2020-06-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2019-07-01 237101094 PITTSBURGH BALLET THEATRE INC PITT 4122810360 2900 LIBERTY AVENUE PITTSBURGH PA 152011500 HARRIS FERRIS EXECUTIVE DIRECTOR 4122810360 2020-11-04 1 SARAH R PIOT P01358891 4122613644 71.206.223.26 2020-11-04 19:10:50 ES P C27DEABDA4EC5E58121BD650225FDE93C4AFF1C8 2A48E83B3AA0030238606F0495B19A11215EC83D 2019 2021-01-29 14:40:06Z HARRIS FERRIS 2900 LIBERTY AVENUE PITTSBURGH PA 152011500 15236764 0 X WWW.PBT.ORG X 1969 PA THE BALLET IS PITTSBURGH'S SOURCE AND AMBASSADOR FOR EXTRAORDINARY BALLET EXPERIENCES. 47 46 279 49 28274 9645 7041916 5584140 5748596 4737062 -479420 -526975 19423 -63514 12330515 9730713 485152 531306 0 0 3993782 4098552 0 0 779938 7444059 6234872 11922993 10864730 407522 -1134017 20878694 20926499 2025700 2457779 18852994 18468720 X SEE SCHEDULE O FOR THE DESCRIPTION OF PITTSBURGH BALLET THEATRE INC.'S PRIMARY MISSION.THE BALLET IS PITTSBURGH'S SOURCE AND AMBASSADOR FOR EXTRAORDINARY BALLET EXPERIENCES THAT GIVE LIFE TO THE CLASSICAL TRADITION, NURTURE NEW IDEAS AND, ABOVE ALL, INSPIRE. IT PERPETUATES EXCELLENCE IN THE ART OF BALLET THOUGH PERFORMANCES, SUPERIOR TRAINING OF STUDENT DANCERS, THROUGH EDUCATION, COMMUNITY ENGAGEMENT AND APPRECIATION OF THE ART FORM.PITTSBURGH BALLET THEATRE BELIEVES THAT ACHIEVING DIVERSITY IN ITS COMPANY, STAFF, SCHOOL, AUDIENCES AND BOARD OF TRUSTEES IS ESSENTIAL TO ACCOMPLISHING ITS STATED MISSION TO "PERPETUATE EXCELLENCE IN THE ART OF BALLET." PITTSBURGH BALLET THEATRE COMMITS ITSELF TO CREATING AN INCLUSIVE ENVIRONMENT OF MUTUAL RESPECT AND SUPPORT THAT EMBRACES INDIVIDUALITY AND IS WELCOMING TO ALL. 0 0 7022293 2505280 PRODUCTION AND PERFORMANCE OF BALLET - EXPOSE AUDIENCES, BOTH IN PITTSBURGH AND ON TOUR, TO WORLD-CLASS BALLET THROUGH PRESENTATION OF TRADITIONAL BALLETS BY LEGENDARY MASTERS AND THE COMMISSION AND PRESENTATION OF NEW WORKS BY INNOVATIVE CHOREOGRAPHERS. THERE WERE 40 PERFORMANCES WITH 47,193 PATRONS ATTENDING. 1487296 531306 2056623 SCHOOL - 1,400 STUDENTS ARE ENROLLED IN THE PROGRAM WHICH ATTRACTS, DEVELOPS AND RETAINS EXCELLENT DANCERS. THE SCHOOL WORKS TO INSTILL A LONG-TERM VALUE OF THE ART FORM IN EACH STUDENT WHILE EMPHASIZING THE STUDY OF DIVERSE, HIGH QUALITY CURRICULUM IN A POSITIVE AND INSPIRATIONAL LEARNING ENVIRONMENT. 363939 146500 ARTS EDUCATION - SERVES MORE THAN 13,000 ADULTS AND CHILDREN EACH YEAR THROUGH PROGRAMS THAT BROADEN AND DIVERSIFY ACCESS TO THE ART FORM. PROGRAMMING TAKES PLACE BOTH ON THE PBT CAMPUS AND IN SCHOOLS, COMMUNITY CENTERS, LIBRARIES, PUBLIC SPACES AND AT THE THEATER, AS WELL AS IN VIRTUAL SPACES. THE DEPARTMENT ALSO COORDINATES ACCESSIBILITY INITIATIVES, WHICH INCLUDE CLASSES AND PERFORMANCES, AS WELL AS THEATER ACCOMMODATIONS, FOR PATRONS WITH SPECIAL NEEDS. THE DEPARTMENT'S NEEDS-BASED SCHOLARSHIP PROGRAM AFFORDS YOUNG CHILDREN FROM DIVERSE SOCIOECONOMIC BACKGROUNDS THE OPPORTUNITY TO STUDY BALLET AND DANCE AT PBT. 8873528 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 1 0 0 0 0 1 0 0 0 1 45 0 1 279 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 47 46 0 0 1 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA MD NY WV X JAY ROMANO 4124549112 2900 LIBERTY AVENUE PITTSBURGH PA 152011500 X HARRIS FERRIS EXECUTIVE DIRECTOR 40.00 X 232512 0 12896 TERRENCE ORR ARTISTIC DIRECTOR 40.00 X X 213077 0 13236 JAY ROMANO FINANCE DIRECTOR 40.00 X 140481 0 11058 DAWN FLEISHNER CHAIR 0.10 X X 0 0 0 MARY MCKINNEY VICE CHAIR 0.10 X X 0 0 0 DOUG KREPS TREASURER 0.10 X X 0 0 0 ELIZABETH TETI SECRETARY 0.10 X X 0 0 0 PHILIP BARR TRUSTEE (ENTERED 9/2019) 0.10 X 0 0 0 CAMERA BARLOTTA TRUSTEE 0.10 X 0 0 0 EDWIN BEACHLER TRUSTEE 0.10 X 0 0 0 RICH BEATY TRUSTEE 0.10 X 0 0 0 GEOFFREY BOND TRUSTEE 0.10 X 0 0 0 STEPHANIE BOZIC TRUSTEE 0.10 X 0 0 0 BETH O BROWN TRUSTEE 0.10 X 0 0 0 KARA BROWN DAVIS TRUSTEE (ENTERED 12/2019) 0.10 X 0 0 0 CAROLYN M BYHAM TRUSTEE 0.10 X 0 0 0 SEAN CASSIDY TRUSTEE (EXITED 12/19) 0.10 X 0 0 0 CONNIE CESARIO TRUSTEE 0.10 X 0 0 0 JAY COSTA JR TRUSTEE 0.10 X 0 0 0 BARBARA COTTRELL TRUSTEE (ENTERED 9/2019) 0.10 X 0 0 0 JAMES E CROCKARD III TRUSTEE 0.10 X 0 0 0 SUSAN CRUZ TRUSTEE 0.10 X 0 0 0 DEBRA DERMODY ESQ TRUSTEE 0.10 X 0 0 0 MARY FINGER TRUSTEE 0.10 X 0 0 0 FREDDIE H FU MD TRUSTEE 0.10 X 0 0 0 CELIA GERARD TRUSTEE (ENTERED 9/2019) 0.10 X 0 0 0 DAVID HALL TRUSTEE 0.10 X 0 0 0 DONA HOTOPP TRUSTEE 0.10 X 0 0 0 DENA LAMAR TRUSTEE 0.10 X 0 0 0 MICHAEL LAROCCO TRUSTEE 0.10 X 0 0 0 PEGGY MCNIGHT TRUSTEE 0.10 X 0 0 0 LEROY L METZ II TRUSTEE 0.10 X 0 0 0 KATHLEEN MICLOT TRUSTEE 0.10 X 0 0 0 NATALIE MIHALEK TRUSTEE (ENTERED 12/2019) 0.10 X 0 0 0 MELONIE NANCE TRUSTEE 0.10 X 0 0 0 SANDRA NICHOLAS TRUSTEE 0.10 X 0 0 0 ANDREA PASSMAN TRUSTEE (EXITED 10/19) 0.10 X 0 0 0 MARK POPOVICH TRUSTEE 0.10 X 0 0 0 RICHARD E RAUH TRUSTEE 0.10 X 0 0 0 GUY RESCHENTHALER TRUSTEE 0.10 X 0 0 0 LISA SAPERSTEIN TRUSTEE 0.10 X 0 0 0 STEPHANIE SCIULLO TRUSTEE (ENTERED 12/2019) 0.10 X 0 0 0 VINCENT SILVAGGIO MD TRUSTEE 0.10 X 0 0 0 SHELLEY TAYLOR TRUSTEE 0.10 X 0 0 0 AYANA TETER TRUSTEE 0.10 X 0 0 0 BECKY TORBIN TRUSTEE 0.10 X 0 0 0 DAVID F TUTHILL TRUSTEE 0.10 X 0 0 0 HILARY S TYSON TRUSTEE 0.10 X 0 0 0 JOSEPH VINCENT TRUSTEE 0.10 X 0 0 0 WINTHROP WATSON TRUSTEE 0.10 X 0 0 0 MARKUS WEBER TRUSTEE (EXITED 10/19) 0.10 X 0 0 0 VONDA WRIGHT TRUSTEE 0.10 X 0 0 0 586070 0 37190 3 0 1 0 JENDOCO CONSTRUCTION 2000 LINCOLN ROAD PITTSBURGH PA 15235 INSTALLATION OF NEW ROOF 364849 NARTAK MEDIA GROUP 2275 SWALLOW HILL ROAD PITTSBURGH PA 15220 RADIO/TV/BILLBOARD ADVERTISING 145556 CAPACITY INTERACTIVE 1239 BROADWAY STE 1103 NEW YORK NY 10001 ADVERTISING 144363 RAFF PRINTING INC PO BOX 42365 PITTSBURGH PA 15203 PRINTING OF MATERIALS BROCHURES 141939 WESTIN CONVENTION CENTER 1000 PENN AVENUE PITTSBURGH PA 15222 POINTE IN TIME BALL EXPENSES 100405 5 575190 664537 4344413 41638 5584140 PERFORMANCE TICKET 711190 2445388 2445388 SCHOOL TUITION 611710 2056623 2056623 BALLET COMPANY TOURING INCOME 711190 146500 146500 COSTUMES & SET INCOME 711190 53947 53947 PROGRAM ADVERTISING 541800 28659 28659 5945 5945 4737062 239369 239369 4401221 5167565 -766344 -766344 -766344 184821 575190 254872 -70051 -70051 90151 83614 6537 -385 6922 9730713 4708403 28274 -590104 531306 531306 652063 234124 354448 63491 2731886 2181531 167963 382392 97643 81692 4479 11472 376396 322458 20238 33700 240564 176595 31801 32168 23237 18662 1804 2771 46913 46913 13569 13569 55246 55246 22099 17748 1716 2635 645472 611603 33869 42898 27619 6025 9254 43142 27776 6059 9307 167812 147384 11294 9134 26678 17176 3747 5755 7324 1647 5125 552 32929 26445 2557 3927 788480 744510 25806 18164 75659 60762 5874 9023 FORM 990-T TAXES PAID 3696 3696 DIRECT PRODUCTION 1664372 1664372 SCHOOL EXPENSE 1362951 955890 407061 ARTS EDUCATION 363939 363939 848456 656593 19239 172624 10864730 8873528 1211264 779938 86248 139753 927959 1552704 1234782 717693 15608 58803 5000 3377 12088 23088 388923 431057 19951812 10918035 9188616 9033777 8446141 8420544 372162 354035 201167 191668 20878694 20926499 335832 122998 1489868 2015451 200000 319330 2025700 2457779 X 6042284 5468451 12810710 13000269 18852994 18468720 20878694 20926499 -1134017 749743 0 X X 0 1 X 1 0 X 5667603 4978487 6126553 7041916 5584140 29398699 5667603 4978487 6126553 7041916 5584140 29398699 6349405 23049294 368096 225032 199188 287191 239369 1318876 14104 20110 13660 31627 9645 89146 30806721 25835079 0.74820 0.73180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13569 13569 11189647 11203216 710161 177540 0 0 686721 730617 758915 710161 2886414 4329621 12971 12688 14322 13569 53550 171680 182654 189729 177540 721603 1082405 9227247 1000 147166 454000 8921413 9157017 179917 352613 462300 9227247 8068550 1025694 556273 493500 9157017 7531156 60500 1030894 554000 8068550 8743213 1500 -366057 847500 7531156 0.00000 1.00000 0.00000 0 0 1058035 1058035 13781924 7583536 6198388 301881 186614 115267 4809972 3147885 1662087 9033777 X 11016701 749743 253005 338486 1341234 9675467 55246 55246 9730713 11400975 253005 338486 591491 10809484 55246 55246 10864730 PART V, LINE 4: THE BALLET'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED INVESTMENT FUNDS ESTABLISHED FOR PERPETUAL SUPPORT OF THE ORGANIZATION'S MISSION. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BALLET TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. INTERPRETATION OF RELEVANT LAW - THE BOARD OF TRUSTEES (BOARD) OF THE BALLET HAS ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 (ACT 141), A TOTAL RETURN POLICY THAT ALLOWS A NONPROFIT TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE MARKET VALUE OF THE ENDOWMENT'S DONOR-RESTRICTED INVESTMENTS AS INCOME EACH YEAR. THE LONG-TERM PRESERVATION OF THE REAL VALUE OF THE ASSETS MUST BE TAKEN INTO CONSIDERATION WHEN THE BOARD ELECTS THE AMOUNT. ON AN ANNUAL BASIS, THE BOARD MUST ELECT A SPENDING RATE OF BETWEEN 2% AND 7%. IN ACCORDANCE WITH ACT 141, AND TO COMPLY WITH A DONOR-IMPOSED RESTRICTION, THE BALLET USUALLY TRANSFERS NO MORE THAN 5% OF THE PREVIOUS THREE YEARS' MARKET VALUE AVERAGE OF THE ENDOWMENT FUND. FOR THE YEAR ENDED JUNE 30, 2016, THE BALLET OBTAINED THE DONOR'S PERMISSION TO INCREASE THE MAXIMUM INVESTMENT DRAW PERCENTAGE TO 7%. STARTING FOR THE YEAR ENDED JUNE 30, 2017, THE BALLET BEGAN A GRADUAL REDUCTION IN DRAW OVER FIVE YEARS TO RETURN TO 5% IN 2021. THE MAXIMUM INVESTMENT DRAW PERCENTAGE FOR THE YEARS ENDED JUNE 30, 2020 AND 2019 WAS 5.4% AND 5.8%, RESPECTIVELY. THIS PERCENTAGE IS APPLIED TO A THREE-YEAR AVERAGE MARKET VALUE OF THE INVESTMENTS AT JUNE 30 OF THE PREVIOUS YEAR. THE BALLET CLASSIFIES AS NET ASSETS WITH DONOR RESTRICTIONS THE ORIGINAL AND SUBSEQUENT VALUE OF GIFTS DONATED TO THE ENDOWMENT WITH DONOR RESTRICTIONS. IN ACCORDANCE WITH ACT 141, THE BALLET HAS ADOPTED A WRITTEN INVESTMENT POLICY, OF WHICH A SECTION SPECIFICALLY RELATES TO THE ENDOWMENT FUND. THE BALLET CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE: 1. PROTECTING THE CORPUS OF THE ENDOWMENT FUND. 2. PRESERVING THE SPENDING POWER OF THE ASSETS. 3. OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION. 4. COMPLYING WITH APPLICABLE LAWS AND DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE BALLET IS A NONPROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS RECORDED IN THE FINANCIAL STATEMENTS. THE BALLET'S STATEMENT OF FINANCIAL POSITION AT JUNE 30, 2020 AND 2019 DOES NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE BALLET HAS NO UNRECOGNIZED TAX BENEFITS. THERE WERE NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENTS OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2020 AND 2019. THE BALLET IS NO LONGER SUBJECT TO EXAMINATIONS OF ITS TAX RETURNS FOR YEARS BEFORE 2017. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 254,872. COST OF GOODS SOLD 83,614. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 254,872. COST OF GOODS SOLD 83,614. ANNUAL BALL 567011 382190 184821 2193 123486 11000 61485 FESTIVAL GALA 193000 193000 979 541 55188 760011 575190 184821 2193 124465 11541 116673 254872 -70051 1 TUITION SCHOLARSHIP 143 286751 N/A N/A TUITION WORKSTUDY 69 128530 N/A N/A HOUSING WORKSTUDY 43 107600 N/A N/A TUITION FINANCIAL AID 13 8425 N/A N/A PART I, LINE 2: STUDENTS IN LEVEL V+ ARE ELIGIBLE TO APPLY FOR FINANCIAL AID (OR AGES 12+ FOR THE INTENSIVE SUMMER PROGRAM). ALL OF PITTSBURGH BALLET THEATRE'S ("PBT") FINANCIAL AID AWARDS ARE CONSIDERED 'WORK-STUDY' AWARDS WHEREBY TUITION REDUCTION OF THIS TYPE MAY CARRY AN OBLIGATION FOR THE STUDENT TO COMPLETE ASSIGNED TASKS THROUGHOUT THE YEAR. FINANCIAL ASSISTANCE IS LIMITED AND NOT GUARANTEED. AN APPLICATION IS REVIEWED AND CONSIDERED ONLY AFTER A STUDENT IS OFFICIALLY REGISTERED FOR THE PROGRAM (THE SCHOOL HAS RECEIVED REGISTRATION FORM, MEDICAL COVERAGE INFORMATION, AND APPLICABLE NON-REFUNDABLE TUITION DEPOSIT). FAILURE TO RECEIVE A WORK-STUDY AWARD WILL NOT RESULT IN REFUND OF TUITION DEPOSIT. ONE APPLICATION MAY BE SUBMITTED PER FAMILY. THE MOST RECENT TAX RETURN MUST ACCOMPANY THE APPLICATION FOR CONSIDERATION. IF THE PARENTS ARE SEPARATED OR DIVORCED, THE TAX RETURN OF THE PARENT WITH WHOM THE CHILD RESIDES MUST BE SUBMITTED. THE COMPLETED FORM MUST REACH THE PBT SCHOOL OFFICE BY A CERTAIN DATE (WHICH VARIES FROM YEAR TO YEAR) FOR CONSIDERATION. IF AN APPLICATION IS RECEIVED LATER THAN THE DATE INDICATED IT MAY NOT BE CONSIDERED. FINANCIAL AID AWARDS VARY. NOT ALL APPLICANTS RECEIVE THE SAME AMOUNT AS ONE ANOTHER. AWARDS ARE SUBJECT TO THE TOTAL AMOUNT THE SCHOOL HAS TO DISTRIBUTE EACH YEAR, WHICH VARIES, AND BY THE INFORMATION PROVIDED IN THE APPLICATION/SUPPLEMENTAL MATERIALS. IF A STUDENT DOES NOT RECEIVE FINANCIAL AID FOR A PARTICULAR PROGRAM, THEY ARE WELCOME TO SUBMIT FINANCIAL AID APPLICATIONS FOR FUTURE PBT PROGRAMS, BUT FINANCIAL AID IS NOT NECESSARILY GUARANTEED FOR FUTURE PROGRAMS. IN AN EFFORT TO PROMOTE INCREASED PARTICIPATION OF YOUNG MALES IN THE ART FORM, THE PITTSBURGH BALLET THEATRE HAS DEVELOPED A PROGRAM OF TUITION AND HOUSING ASSISTANCE THAT DIMINISHES THE BARRIER FOR MALE BALLET STUDENTS WITH TUITION ASSISTANCE AND, IN SOME CASES, HOUSING ASSISTANCE. THE PROCESS OF AWARDING THESE SCHOLARSHIPS INVOLVES AN AUDITION AND REVIEW BY SCHOOL DIRECTORS. STUDENTS ARE ACCEPTED OR REJECTED BASED ON THEIR EVALUATION AND AWARDED TUITION AND HOUSING SCHOLARSHIPS ACCORDINGLY. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 HARRIS FERRIS EXECUTIVE DIRECTOR 232512 0 0 0 0 0 6975 0 5921 0 245408 0 0 0 TERRENCE ORR ARTISTIC DIRECTOR 213077 0 0 0 0 0 6392 0 6844 0 226313 0 0 0 JAY ROMANO FINANCE DIRECTOR 140481 0 0 0 0 0 4214 0 6844 0 151539 0 0 0 PART I, LINE 1A PITTSBURGH BALLET THREATRE, INC. REIMBURSES 50% OF THE INITIATION FEE AND 100% OF THE QUARTERLY DUES FOR MEMBERSHIP AT THE DUQUESNE CLUB FOR THE EXECUTIVE DIRECTOR. IN ADDITION, SUBSTANTIATED MEALS ARE REIMBURSED IN ACCORDANCE WITH THE ACCOUNTABLE PLAN. HARRIS FERRIS OFFICER DUQUESNE CLUB INITIATION FEE X 5000 3377 0 1 1 3377 X 2 20081 FMV X SHOES 1 13429 FMV X FABRIC 1 4688 FMV X AUCTION ITEMS 4 2772 FMV X OTHER 1 668 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER SHOWN IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS THE PITTSBURGH BALLET THEATRE, INC. RECEIVED FOR EACH TYPE OF PROPERTY FOR THE YEAR ENDED JUNE 30, 2020. FORM 990, PART VI, SECTION A, LINE 1 EXECUTIVE COMMITTEE: COMPOSITION SHALL CONSIST OF THE CHARIMAN OF THE CORPORATION, THE CHAIRMAN OF THE FINANCE AND AUDIT COMMITTEE, AND SUCH OTHER TRUSTEES AS MAY BE APPOINTED TO THE EXECUTIVE COMMITTEE BY THE BOARD OR THE CHAIRMAN OF THE BOARD. ALL COMMITTEE MEMBERS ARE BOARD MEMBERS. SCOPE OF AUTHORITY, HAVE AND EXERCISE ALL POWER AND AUTHORITY GRANTED BY THE BY-LAWS; HAVE AND EXERCISE ALL THE POWER AND AUTHORITY OF THE BOARD OF TRUSTEES TO TRANSACT THE BUSINESS OF THE CORPORATION, IN ACCORDANCE WITH THE BOARD'S ESTABLISHED POLICIES AND GOALS, IN THE INTERVALS BETWEEN BOARD MEETINGS; MAKE ALL DECISIONS REQUIRED BY THE IMMEDIATE NEEDS OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 4 AS OF JUNE 9, 2020 PITTSBURGH BALLET THEATRE, INC. AMENDED THEIR BY-LAWS FOR THE FOLLOWING ITEMS: - UPDATE OF MINIMUM NUMBER OF TRUSTEES TO BE 3 TO PERMIT THE ORGANIZATION TO FUNCTION IN THE EVENT OF AN EMERGENCY OR DISASTER - ADDITION OF ARTISITC DIRECTOR AND EXECUTIVE DIRECTOR AS KEY EMPLOYEES - UPDATE PROVISION TO AMEND BY-LAWS TO REMOVE REQUIREMENT OF 7 DAY NOTICE BY MAIL - UPDATE A QUORUM TO BE 1/2 OF DIRECTORS - INCLUSION OF LANGUAGE FOR COMPOSITION AND PROCEDURES OF AN AUDIT COMMITTEE FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990, 990-T AND REQUIRED SCHEDULES ARE REVIEWED BY THE ORGANIZATION'S INTERNAL MANAGEMENT AS WELL AS THE BOARD'S FINANCE AND AUDIT COMMITTEE. UPON COMPLETION OF THIS REVIEW, THE PUBLIC DISCLOSURE COPY IS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS, DIRECTORS AND KEY EMPLOYEES RECEIVE A COPY OF THE ORGANIZATION'S EXISTING CONFLICT OF INTEREST POLICY ALONG WITH A CONFLICT OF INTEREST DISCLOSURE FORM FOR COMPLETION. CONFLICT OF INTEREST STATEMENTS ARE REVIEWED AND UPDATED BY THE GOVERNANCE COMMITTEE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE DIRECTOR AND TOP MANAGEMENT: THE ORGANIZATION'S EXECUTIVE COMMITTEE SERVES AS THE ORGANIZATION'S COMPENSATION COMMITTEE. DURING A CLOSED EXECUTIVE SESSION, THE CHAIR OF THE BOARD PRESENTS THEIR ANALYSIS OF COMPARABLE COMPENSATION FOR THE ORGANIZATION'S EXECUTIVE DIRECTOR AND TOP MANAGEMENT. THE EXECUTIVE COMMITTEE APPROVES THE COMPENSATION AND CONTRACTS ARE DRAFTED AND SIGNED THAT REFLECT THE COMPENSATION CHANGES. OFFICERS AND KEY EMPLOYEES: THE COMPENSATION IS DETERMINED BY THE COMBINATION OF THE PERFORMANCE OF THE INDIVIDUAL AND THE ORGANIZATION'S BUDGETARY RESTRAINTS. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, NON-VOTING MEMBERS: BOARD EMERITUS MEMBERS: JAMES TOMLINSON FORT, JEANNE GLEASON AND HAL WALDMAN FORM 990, PART XII, LINE 2C, FINANCIAL STATEMENTS AND REPORTING: THE THEATRE'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE THEATRE HAS A COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PITTSBURGH BALLET THEATRE CHARITABLE FOUNDATION 2900 LIBERTY AVENUE PITTSBURGH PA 15201 251479790 TO PROVIDE PERFORMANCE & PA 501(C)(3) LINE 12D, III-O N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1