2019-07-30T15:30:38-05:00 2018-09-30 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD STE 700 LOS ANGELES CA 900243783 990 2017-10-01 951696734 LOS ANGELES PHILHARMONIC ASSOCIATION LOSA 2139727300 151 SOUTH GRAND AVE LOS ANGELES CA 90012 ALISON SOWDEN VP & CFO 2139727300 2019-07-26 1 LIOR TEMKIN P00748170 3104773924 2019-07-26 206.169.119.90 2019-07-26 11:24:35 PD P C36518EBE995053931F29DA3CEC0EC983DDC7162 3BC35B0F6E5C90AEA235CAB20D30E4E586A55636 2017 2019-02-21 02:37:17Z ALISON SOWDEN 151 SOUTH GRAND AVE LOS ANGELES CA 90012 194423891 0 X WWW.LAPHIL.COM X 1934 CA SEE PART III LINE 1 55 54 2442 949 142005 369005 62163608 58093781 101684653 111148892 39746420 22301494 -279601 -691544 203315080 190852623 0 0 0 0 71288925 76154493 527883 617350 7032245 70747876 82303321 142564684 159075164 60750396 31777459 382538951 417446115 46361631 55594931 336177320 361851184 X 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. 0 0 47493643 47978465 ORCHESTRAL PERFORMANCE:# OF TICKETS: 620,182 21722511 25896744 NON-ORCHESTRAL PERFORMANCES:# OF TICKETS: 381,745 4236626 1789380 NEIGHBORHOOD CONCERTS, RUN-OUTS, AND TOURS:# OF TICKETS: 24,163 57812115 35484303 CONCERTS BY OTHER PRESENTERS, RECORDING/ROYALTIES AND OTHER MISCELLANEOUS PROGRAM SERVICES. 57812115 35484303 131264895 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 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 1 718 0 1 2442 1 1 1 0 0 0 0 1 1 0 0 0 0 X 55 54 0 1 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X ALISON SOWDEN VP & CFO 2139727300 151 S GRAND AVE LOS ANGELES CA 900123034 X GREGORY A ADAMS DIRECTOR 1.00 X 0 0 0 MARILYN ANDERSON PSHA PRESIDENT (UNTIL 6/30/18) 1.00 X 0 0 0 JULIE ANDREWS DIRECTOR 1.00 X 0 0 0 WALLIS ANNENBERG DIRECTOR 1.00 X 0 0 0 THOMAS BECKMEN DIRECTOR 1.00 X 0 0 0 DAVID C BOHNETT CHAIR, CAMPAIGN; VICE CHAIR, EXEC. 1.00 X 0 0 0 LYNN A BOOTH DIRECTOR 1.00 X 0 0 0 REVETA F BOWERS DIRECTOR 1.00 X 0 0 0 LINDA P BRITTAN DIRECTOR 1.00 X 0 0 0 JENNIFER BRODER DIRECTOR 1.00 X 0 0 0 KAWANNA BROWN DIRECTOR 1.00 X 0 0 0 ANDREA CHAO-KHARMA DIRECTOR 1.00 X 0 0 0 CHRISTIAN CHIVAROLI DIRECTOR 1.00 X 0 0 0 MARK HOUSTON DALZELL DIRECTOR (UNTIL 5/29/18) 1.00 X 0 0 0 MARI L DANIHEL DIRECTOR 1.00 X 0 0 0 DONALD P DE BRIER CHAIR, AUDIT 1.00 X 0 0 0 KENNETH M DORAN DIRECTOR 1.00 X 0 0 0 JERROLD L EBERHARDT VICE CHAIR EXEC; CHAIR ADVANCEMENT 1.00 X 0 0 0 LOUISE D EDGERTON DIRECTOR 1.00 X 0 0 0 JANE B EISNER CHAIR, GOVERNANCE 1.00 X 0 0 0 LISA FIELD DIRECTOR 1.00 X 0 0 0 NATHAN FRANKEL DIRECTOR (UNTIL 3/1/18) 1.00 X 0 0 0 JOSHUA FRIEDMAN DIRECTOR 1.00 X 0 0 0 JENNIFER MILLER GOFF DIRECTOR 1.00 X 0 0 0 ELLEN GOLDSMITH-VEIN DIRECTOR (UNTIL 5/15/18) 1.00 X 0 0 0 LENORE S GREENBERG DIRECTOR 1.00 X 0 0 0 LINDA GRIEGO CO-CHAIR, CAMPAIGN (UNTIL 6/29/18) 1.00 X 0 0 0 CAROL COLBURN GRIGOR CO-CHAIR, CAMPAIGN 1.00 X 0 0 0 PIERRE HABIS DIRECTOR 1.00 X 0 0 0 MEGAN HERNANDEZ DIRECTOR 1.00 X 0 0 0 TEENA HOSTOVICH DIRECTOR 1.00 X 0 0 0 JONATHAN KAGAN CO-CHAIR OVERSEERS; VICE CHAIR BOWL 1.00 X 0 0 0 SARAH KETTERER DIRECTOR 1.00 X 0 0 0 DARIOUSH KHALEDI DIRECTOR 1.00 X 0 0 0 RONALD LITZINGER DIRECTOR (UNTIL 6/21/18) 1.00 X 0 0 0 DANA MAREVICH DIRECTOR 1.00 X 0 0 0 DAVID MELINE VICE CHAIR EXEC; CHAIR FIN & INVEST 1.00 X 0 0 0 MARGARET MORGAN DIRECTOR 1.00 X 0 0 0 YOUNES NAZARIAN DIRECTOR 1.00 X 0 0 0 BECKY NOVY CHAIR, AFFILIATES 1.00 X 0 0 0 LEITH O'LEARY DIRECTOR 1.00 X 0 0 0 DIANE B PAUL CO-CHAIR, CAMPAIGN; VICE CHAIR,EXEC. 1.00 X 0 0 0 WILLIAM C POWERS CHAIR, HOLLYWOOD BOWL(UNTIL 8/30/18) 1.00 X 0 0 0 DR BARRY D PRESSMAN MD DIRECTOR (UNTIL 5/1/18) 1.00 X 0 0 0 SANDY PRESSMAN DIRECTOR 1.00 X 0 0 0 JAY RASULO BOARD CHAIR; CHAIR EXEC 1.00 X 0 0 0 DUDLEY A RAUCH UNTIL 72518 CHAIR, PENSION; CO-CHAIR, CAMPAIGN 1.00 X 0 0 0 ANN RONUS DIRECTOR 1.00 X 0 0 0 JENNIFER ROSENFELD DIRECTOR 1.00 X 0 0 0 LAURA ROSENWALD DIRECTOR 1.00 X 0 0 0 NANCY S SANDERS CHAIR, EDUCATION & COMMUNITY 1.00 X 0 0 0 ERIC L SMALL DIRECTOR 1.00 X 0 0 0 GABRIELLE STARR DIRECTOR 1.00 X 0 0 0 JAY STEIN DIRECTOR 1.00 X 0 0 0 LISA J STEVENS DIRECTOR 1.00 X 0 0 0 CHRISTIAN STRACKE CHAIR MARKETING 1.00 X 0 0 0 JASON SUBOTKY DIRECTOR 1.00 X 0 0 0 DR RONALD D SUGAR CHAIR, ACCESS & INCLUSION 1.00 X 0 0 0 JACK SUZAR CHAIR, BOARD OF OVERSEERS 1.00 X 0 0 0 SUE TSAO DIRECTOR 1.00 X 0 0 0 JON VEIN DIRECTOR 1.00 X 0 0 0 ALYCE DE ROULET WILLIAMSON DIRECTOR 1.00 X 0 0 0 IRWIN WINKLER DIRECTOR 1.00 X 0 0 0 MARILYN ZIERING DIRECTOR (UNTIL 9/28/18) 1.00 X 0 0 0 GLENN BAKER INTERIM VP & CFO (UNTIL 11/8/17) 40.00 X 263057 0 0 LAURA CONNELLY VP OF PRESENTATIONS 40.00 X 281000 0 53910 KATHLEEN KANE CHIEF ADVANCEMENT OFFICER 40.00 X 501114 0 8378 SHANA MATHUR CHIEF MARKETING OFFICER(UNTIL 3/3/18) 40.00 X 366242 0 53846 GRETCHEN NIELSEN VP OF EDU. INITIATIVE(UNTIL 2/13/18) 40.00 X 230000 0 45334 MONA PATEL VP OF HR & GENERAL COUNSEL 40.00 X 351377 0 26443 GAIL SAMUEL EXEC DIR./INTERIM CEO(UNTIL 1/22/18) 40.00 X 729003 0 70049 CHAD SMITH CHIEF OPERATIONS OFFICER 40.00 X 524532 0 36600 DANIEL SONG VP OF PHIL & PRODUCTION 40.00 X 257866 0 31164 ALISON SOWDEN VP & CFO (FROM 10/23/17) 40.00 X 60577 0 2326 DAWN MADDOX-TAYLOR VP & CFO (DURING 7/2017) 40.00 X 17787 0 5931 GUSTAVO DUDAMEL MUSIC & ARTISTIC DIRECTOR 40.00 X 2095000 0 35895 BORIS ALLAKHVERDYAN PRINCIPAL MUSICIAN 40.00 X 328410 0 10792 ANDREW BAIN PRINCIPAL MUSICIAN 40.00 X 332124 0 37730 MARTIN CHALIFOUR PRINCIPAL CONCERTMASTER 40.00 X 518766 0 28295 CARRIE DENNIS PRINCIPAL MUSICIAN (UNTIL 6/2/17) 40.00 X 394378 0 12492 KEVIN R WAPNER STAGEHAND 50.00 X 355266 0 87548 DEBORAH BORDA PRESIDENT & CEO (UNTIL 6/2/17) 40.00 X 1037173 0 40364 MICHAEL DEMARTINI VP & CFO (UNTIL 2/18/17) 40.00 X 236722 0 13033 8880394 0 600130 173 1 1 0 CONTEMPORARY SERVICES CORPORATION PO BOX 511282 LOS ANGELES CA 90051 SECURITY 3669095 TRANSIT SYSTEMS UNLTD INC 8976 LAUREL CANYON BLVD SUN VALLEY CA 91352 SHUTTLE SERVICES 2083021 CENTRO INC 11 E MADISON ST 6TH FL CHICAGO IL 60602 ADVERTISING 1682246 SD&A TELESERVICES INC 5757 W CENTURY BLVD 300 LOS ANGELES CA 90045 TELEMARKETING & TELEFUNDING 1451360 TBWACHIATDAY 5353 GROSVENOR BLVD LOS ANGELES CA 90066 MARKETING 1369353 117 X 4569334 997120 52527327 9916539 58093781 CONCERTS 711310 69882545 69882545 CONCERTS BY OTHERS 711310 23097570 23097570 CONCESSION/PARKING 812930 7706620 7706620 RECORDING/ROYALTIES 900099 5771334 5771334 4690823 4690823 111148892 6112725 6112725 16188769 0 16188769 16188769 16188769 598469 4569334 1697680 -1099211 -1099211 2281255 1873588 407667 265662 142005 190852623 97936600 142005 34680237 6930803 5708965 787914 433924 52874799 43531332 6023209 3320258 4139586 3442411 452551 244624 8243749 6855365 901229 487155 3965556 3297691 433525 234340 388162 74924 310196 3042 313548 313548 617350 617350 1074845 1074845 6543850 6120811 238757 184282 6205186 4172888 1271932 760366 308732 26459 279713 2560 775794 764900 10894 4387333 4325664 57869 3800 4496681 4162345 168010 166326 61214 29438 6576 25200 51823 25381 26442 4981140 1507867 3473273 922431 786800 135631 CONTRACT SERVICES 33316135 29289529 3804926 221680 LEASE EVENT EXPENSE 11439122 11439122 SUPPLIES 1885017 1444991 392959 47067 CREDIT CARD COMMISSIONS 1531032 1438242 92790 3621276 2819770 614025 187481 159075164 131264895 20778024 7032245 3872187 18718025 4445415 9737071 44486919 43712468 10415183 5783960 363517 465583 2304835 3764375 92994462 38895547 51035179 54098915 265615716 281165718 382538951 417446115 14981215 14929686 19312850 28248510 12067566 12416735 46361631 55594931 X 143578981 146777138 42307134 56531683 150291205 158542363 336177320 361851184 382538951 417446115 X 31777459 -6291620 188025 X 0 1 X 1 0 X 50982116 78488467 44156830 62163608 58093781 293884802 88151746 86181212 95833026 102790983 111148892 484105859 139133862 164669679 139989856 164954591 169242673 777990661 18370213 43148172 10853488 25887771 20036963 118296607 3892684 11614862 1791078 17298624 18370213 43148172 14746172 37502633 21828041 135595231 642395430 1265771 1383546 1356662 2435762 6112725 12554466 30150 76157 130181 132801 142005 511294 1295921 1459703 1486843 2568563 6254730 13065760 140429783 166129382 141476699 167523154 175497403 791056421 0.81210 0.81860 0.01650 0.01150 X 265776321 11165501 14560835 10974600 280528057 231856477 14426393 28005017 8511566 265776321 207131273 22239320 11564440 9078556 231856477 200771876 15879665 -1580034 7940234 207131273 177612514 11559715 18213798 6614151 200771876 0.51000 0.49000 0.00000 1 0 64652227 21221972 43430255 15413593 11503184 3910409 12928642 6170391 6758251 54098915 PARTNERSHIP INTEREST & OTHER FUNDS 260206362 F MCF UNITIZED FUND 20959356 F 281165718 PENSION & POST-RETIREMENT MEDICAL BENEFIT COST 12076507 CAPITAL LEASE LIABILITY 340228 12416735 X 192765000 -6291620 11635915 5344295 187420705 1074845 2357073 3431918 190852623 164065000 6064681 6064681 158000319 1074845 1074845 159075164 PART V, LINE 4: THE ENDOWMENT FUNDS SUPPORT EDUCATION AND MUSIC PROGRAMS, AND THE MISSION OF THE ASSOCIATION. PART X, LINE 2: IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC NO. 740, "UNCERTAINTY IN INCOME TAXES" ("ASC 740"), THE ASSOCIATION RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE 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 ASSOCIATION'S POLICY IS TO RECOGNIZE POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE, IF ANY. DURING THE YEAR ENDED SEPTEMBER 30, 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. THE FEDERAL AND STATE OF CALIFORNIA INCOME TAX RETURNS OF THE ASSOCIATION STILL OPEN AND SUBJECT TO IRS OR STATE OF CALIFORNIA EXAMINATION ARE AS FOLLOWS: JURISDICTION: OPEN TAX YEARS: FEDERAL 2014 - 2017 STATE 2013 - 2017 PART XI, LINE 2D - OTHER ADJUSTMENTS: NON-MONETARY EXCHANGE - IN KIND INCOME 4,366,821. SPECIAL EVENTS - DIRECT EXPENSES 1,697,680. INVESTMENT GAIN OF MUSIC CENTER FOUNDATION 5,571,414. PART XI, LINE 4B - OTHER ADJUSTMENTS: MUSIC CENTER FOUNDATION CONTRIBUTION 2,366,900. ROUNDING ADJUSTMENT ON TOTAL REVENUE -9,827. PART XII, LINE 2D - OTHER ADJUSTMENTS: NON-MONETARY EXCHANGE - IN KIND INCOME 4,366,821. SPECIAL EVENTS - DIRECT EXPENSES 1,697,680. ROUNDING ADJUSTMENT ON TOTAL EXPENSE 180. PART XI, LINE 2A - NET UNREALIZED (LOSSES) ON INVESTMENTS: DURING FY2018, THERE WERE CONSIDERABLE SALES OF INVESTMENTS THAT HAD APPRECIATED SIGNIFICANTLY COMPARED TO ORIGINAL COST. AS THE APPRECIATED MARKET VALUE WAS REALIZED, THE UNREALIZED GAIN POSITION WAS REDUCED, RESULTING IN THE RECOGNITION OF UNREALIZED LOSSES OF $6,291,620 IN THE FY2018 AUDITED FINANCIAL STATEMENTS. IN ACCORDANCE WITH INSTRUCTIONS, THESE LOSSES ARE NOT INCLUDED ON PART VIII OF THE FORM 990. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES ORCHESTRAL TOUR 2221484 0 0 0 0 0 0 2221484 0 2221484 0 0 0 0 0 0 X 1 SD&A TELESERVICES INC 5757 W CENTURY BLVD 300 LA CA 90045 TELEFUNDING 1 1353028 617350 735677 1353028 617350 735677 CA WINTER GALA 3368214 3100515 267699 1235291 SUMMER GALA 1799589 1468819 330770 462389 5167803 4569334 598469 1697680 1697680 -1099211 X X X 1 1 X X X X X 1 1 0 0 0 0 0 0 0 GLENN BAKER INTERIM VP & CFO (UNTIL 11/8/17) 263057 0 0 0 0 0 0 0 0 0 263057 0 0 0 LAURA CONNELLY VP OF PRESENTATIONS 236000 0 45000 0 0 0 27450 0 26460 0 334910 0 0 0 KATHLEEN KANE CHIEF ADVANCEMENT OFFICER 406114 0 95000 0 0 0 6310 0 2068 0 509492 0 0 0 SHANA MATHUR CHIEF MARKETING OFFICER(UNTIL 3/3/18 321242 0 45000 0 0 0 17951 0 35895 0 420088 0 0 0 GRETCHEN NIELSEN VP OF EDU. INITIATIVE(UNTIL 2/13/18) 185000 0 45000 0 0 0 18874 0 26460 0 275334 0 0 0 MONA PATEL VP OF HR & GENERAL COUNSEL 281377 0 70000 0 0 0 12808 0 13635 0 377820 0 0 0 GAIL SAMUEL EXEC DIR./INTERIM CEO(UNTIL 1/22/18) 628438 0 100000 0 565 0 34154 0 35895 0 799052 0 0 0 CHAD SMITH CHIEF OPERATIONS OFFICER 424532 0 100000 0 0 0 22965 0 13635 0 561132 0 0 0 DANIEL SONG VP OF PHIL & PRODUCTION 212866 0 45000 0 0 0 6684 0 24480 0 289030 0 0 0 GUSTAVO DUDAMEL MUSIC & ARTISTIC DIRECTOR 2095000 0 0 0 0 0 0 0 35895 0 2130895 0 0 0 BORIS ALLAKHVERDYAN PRINCIPAL MUSICIAN 298668 0 20000 0 9742 0 2920 0 7872 0 339202 0 0 0 ANDREW BAIN PRINCIPAL MUSICIAN 323088 0 0 0 9036 0 2920 0 34810 0 369854 0 0 0 MARTIN CHALIFOUR PRINCIPAL CONCERTMASTER 507983 0 0 0 10783 0 2920 0 25375 0 547061 0 0 0 CARRIE DENNIS PRINCIPAL MUSICIAN (UNTIL 6/2/17) 394378 0 0 0 0 0 920 0 11572 0 406870 0 0 0 KEVIN R WAPNER STAGEHAND 355266 0 0 0 0 0 44998 0 42550 0 442814 0 0 0 DEBORAH BORDA PRESIDENT & CEO (UNTIL 6/2/17) 529095 0 485000 0 23078 0 33600 0 6764 0 1077537 0 0 0 MICHAEL DEMARTINI VP & CFO (UNTIL 2/18/17) 236722 0 0 0 0 0 7102 0 5931 0 249755 0 0 0 PART I, LINES 4A-B LINE 4A: PER CONFIDENTIALITY AGREEMENTS SIGNED BY THE ORGANIZATION, SEVERANCE PACKAGES PAID TO EMPLOYEES ARE NOT OPEN FOR PUBLIC INSPECTION. LINE 4B: DEBORAH BORDA HAS A 457(F) RETIREMENT PLAN. THE AMOUNT INCLUDED ON MS. BORDA'S 2017 W-2 WAS $23,078. PART II, COLUMN F: AS PER IRS INSTRUCTIONS, COLUMN F IS ONLY TO INCLUDE COMPENSATION REPORTED IN COLUMN B OF THE CURRENT YEAR THAT WAS ALSO REPORTED IN THE PRIOR YEAR FORM 990. SINCE THERE WERE NO SUCH OVERLAPPING AMOUNTS, NO PRIOR COMPENSATION WAS LISTED IN COLUMN F. CADENZA ARTISTS JENNIFER ROSENFELD, DIRECTOR, IS CO-OWNER OF CADENZA ARTISTS 78098 SEE PART VJENNIFER ROSENFELD, DIRECTOR OF THE ORGANIZATION, IS CO-OWNER OF CADENZA ARTISTS, A PERFORMING ARTS TALENT AGENCY. THE COMPANY REPRESENTS A ROSTER OF MUSICIANS, SOME OF WHOM HAVE BEEN HIRED TO PERFORM WITH THE LOS ANGELES PHILHARMONIC. 0 X 52 9887353 FMV X INSTRUMENTS 1 14744 FMV X OTHER 1 14442 FMV 0 1 1 PART I, 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. THE FOLLOWING IS A LIST OF THE CHAIRMAN, VICE CHAIRS AND MEMBERS OF THE EXECUTIVE COMMITTEE: CHAIRMAN OF THE BOARD: JAY RASULO VICE CHAIRS: DAVID C. BOHNETT JERROLD L. EBERHARDT DAVID MELINE DIANE PAUL EXECUTIVE COMMITTEE MEMBERS (INCLUDING VICE CHAIRS LISTED ABOVE): DAVID C. BOHNETT DONALD DE BRIER JERROLD L. EBERHARDT JANE EISNER JONATHAN KAGAN DIANE PAUL JAY RASULO NANCY SANDERS RONALD SUGAR FORM 990, PART VI, SECTION A, LINE 3 GLENN BAKER (THE FORMER CFO FROM 2001 TO 2006) WAS CONTRACTED THROUGH A THIRD PARTY (WESTERN MANAGEMENT ASSOCIATES) TO PROVIDE SERVICES AS INTERIM CFO. DURING THE CALENDAR YEAR 2017 GLEN BAKER WAS COMPENSATED $263,057. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS PROVIDED TO THE AUDIT COMMITTEE FOR THEIR REVIEW PRIOR TO THE MEETING WITH THE TAX ACCOUNTANTS AND STAFF. DURING THIS MEETING, THE AUDIT COMMITTEE INQUIRES AND RECOMMENDS 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. 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 CEO'S 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/HER TOTAL COMPENSATION PACKAGE. THE COMPENSATION TERMS AND THE RESULTS OF BOTH THE INTERNAL AND INDEPENDENT COMPENSATION ANALYSIS 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 18 ALL INFORMATIONAL RETURN DOCUMENTS ARE AVAILABLE TO THE PUBLIC EITHER THROUGH WWW.GUIDESTAR.ORG OR UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, COLUMN A: FORMER CFO, MICHAEL DEMARTINI, LEFT THE ASSOCIATION IN FEBRUARY 2017. DAWN TAYLOR HELD THE POSITION IN JULY 2017. AFTER MR. DEMARTINI'S DEPARTURE AND AGAIN AFTER MS. TAYLOR'S, GLENN BAKER (FORMER CFO FROM 2001 TO 2006) WAS CONTRACTED THROUGH A THIRD PARTY (WESTERN MANAGEMENT ASSOCIATES) TO PROVIDE SERVICES AS INTERIM CFO UNTIL ALISON SOWDEN WAS APPOINTED IN OCTOBER 2017. FORM 990, PART VIII, LINE 7A & 7B: PROCEEDS FROM SALE OF STOCKS & COST OR OTHER BASIS: THE ORGANIZATION HAS INVESTMENT ACCOUNTS, HEDGE FUNDS AND OTHER INVESTMENT PARTNERSHIPS WITH MANY STOCK TRANSACTIONS. DUE TO THE LARGE QUANTITY OF STOCK TRANSACTIONS, THIS INFORMATION IS NOT INCLUDED IN THE RETURN, BUT IS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: INCREASE IN ACTUARIAL GAIN 178,000. ROUNDING 10,025.