2019-05-20T09:58:49-05:00 2018-09-30 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2017-10-01 521190211 AMERICAN FARMLAND TRUST AMER 2023317300 1150 CONNECTICUT AVENUE NW NO 600 WASHINGTON DC 20036 ASHLEY BOVINO CFO AND VP OF FINANCE & ADMIN. 2023317300 2019-05-20 1 FRANK H SMITH P00639053 2022274000 2019-05-20 47.19.127.190 2019-05-20 09:58:45 ED P 33CEB46A86D76047C0BD9B67CEFA7EE41671BAE1 ACE00D6033F057C8BA862A8F58C9FFBC3331F7AA 2017 2019-02-21 02:37:17Z JOHN PIOTTI 1150 CONNECTICUT AVENUE NW NO 600 WASHINGTON DC 20036 16138109 0 X WWW.FARMLAND.ORG X 1980 DC THE MISSION OF AMERICAN FARMLAND TRUST IS TO SAVE THE LAND THAT SUSTAINS US BY PROTECTING FARMLAND, PROMOTING SOUND FARMING PRACTICES AND KEEPING FARMERS ON THE LAND. 17 17 91 17 0 8230 10400685 15600174 39125 15985 263304 182084 58974 45634 10762088 15843877 0 224570 0 0 5578080 5826888 180000 202950 1941763 5123563 5020458 10881643 11274866 -119555 4569011 24365385 35334710 1888355 1991579 22477030 33343131 X THE MISSION OF AMERICAN FARMLAND TRUST (AFT) IS TO SAVE THE LAND THAT SUSTAINS US BY PROTECTING FARMLAND, PROMOTING SOUND FARMING PRACTICES AND KEEPING FARMERS ON THE LAND. 0 0 6068568 89136 15985 STATE, LOCAL AND FEDERAL PROGRAMS -AFT LAUNCHED A NATIONAL MOVEMENT TO ADVANCE CONSERVATION AGRICULTURE ACROSS THE COUNTRY. SINCE ITS FOUNDING IN 1980, AFT HAS HELPED SAVE 6.5 MILLION ACRES OF FARMLAND FROM DEVELOPMENT AND HAS LED THE WAY FOR THE ADOPTION OF CONSERVATION PRACTICES ON MILLIONS OF ACRES MORE. AFT CONTINUED AND EXPANDED PROGRAMMING THAT PROTECTS FARMLAND, PROMOTES SOUND FARMING PRACTICES AND KEEP FARMERS ON THE LAND. AFT DOES THIS WORK THROUGH ITS HEADQUARTERS IN WASHINGTON, DC AND SIX REGIONAL OFFICES.PROTECTING IRREPLACEABLE FARMLAND AND RANCHLAND:FERTILE, PRODUCTIVE LAND IS THE FOUNDATION OF AMERICAN FARMING AND RANCHING THE SOURCE OF FOOD, ENTERPRISE, AND LIFE ITSELF. MAKING SURE FARMERS AND RANCHERS HAVE ENOUGH HIGH-QUALITY LAND TO GROW FOOD AND CROPS IS AT THE HEART OF AFT'S MISSION. SINCE ITS START, OVER 6.5 MILLION ACRES OF THE NATION'S BEST FARMLAND AND RANCHLAND HAVE BEEN PROTECTED FOR FUTURE GENERATIONS.A SAMPLING OF 2018 ACHIEVEMENTS:AFT RELEASED THE MOST COMPREHENSIVE ASSESSMENT EVER OF THE LOSS OF U.S. FARMLAND AND RANCHLAND, "FARMS UNDER THREAT: THE STATE OF AMERICA'S FARMLAND," WHICH FOUND THAT FROM 1992 TO 2012, THE U.S. LOST THREE ACRES OF FARMLAND EVERY MINUTE TO URBAN SPRAWL AND LOW-DENSITY RESIDENTIAL DEVELOPMENT 11 MILLION OF THOSE ACRES AMONG THE BEST FARMLAND IN THE NATION.THE SIGNING OF THE 2018 FARM BILL SECURED ANOTHER $2 BILLION FOR AFT'S HIGHEST PRIORITY, THE AGRICULTURAL CONSERVATION EASEMENT PROGRAM, WHICH COMPENSATES LANDOWNERS FOR COMMITTING TO KEEP THEIR LAND IN AGRICULTURE.WITH ASSISTANCE FROM AFT'S OWEN AND ELLEN LOVE FAMILY FARMLAND PROTECTION FUND, AFT PROTECTED TWO CRITICAL FARMS IN MICHIGAN.CONSERVING SOIL AND WATER AND COMBATTING CLIMATE CHANGETHE NATION'S SOIL AND WATER RESOURCES ARE FUNDAMENTAL TO LIFE, WE CANNOT SURVIVE WITHOUT THEM. AFT ADVOCATES FOR CONSERVATION PRACTICES AND PROGRAMS THAT PRESERVE NOT JUST THE LAND BUT ALSO THE ENVIRONMENT. AFT'S WORK HELPS FARMERS AND RANCHERS ADOPT SMART FARMING PRACTICES THAT PROTECT LAND, WATER, SOIL, AND WILDLIFE PROVIDING ENVIRONMENTAL BENEFITS FOR ALL OF US.A SAMPLING OF 2018 ACHIEVEMENTS:AFT ACCEPTED AN INVITATION FROM THE U.S. CLIMATE ALLIANCE TO BE ONE OF THEIR FIRST IMPACT PARTNERS, COMMITTED TO HELPING USCA STATES FULFILL THEIR NATURAL AND WORKING LANDS CHALLENGE BY DEVELOPING POLICIES AND PROGRAMS TO INCREASE CARBON SEQUESTRATION AND REDUCE GREENHOUSE GASES ON FARMLAND AND RANCHLAND.AFT LAUNCHED ITS FARMERS COMBAT CLIMATE CHANGE INITIATIVE TO ACCELERATE THE USE OF CLIMATE-SMART FARMING PRACTICES AND TO MAKE THE CASE FOR FARMLAND PROTECTION AS AN EFFECTIVE AND COST-EFFICIENT CLIMATE CHANGE MITIGATION TOOL.AFT'S CALIFORNIA GREENER FIELDS PROJECT INFORMED THE FIRST STATE CLIMATE PLAN TO LINK THE PROTECTION OF AGRICULTURAL LAND TO CLIMATE CHANGE MITIGATION.AFT RECEIVED A HIGHLY COMPETITIVE CONSERVATION INNOVATION GRANT FROM USDA TO STUDY THE IMPACTS OF SOIL HEALTH PRACTICES IN FIVE STATES AND PROVIDE THE QUANTITATIVE EVIDENCE THAT FARMERS NEED TO MAKE BETTER CONSERVATION DECISIONS.CONNECTING FARMERS TO THE LAND AND COMMUNITIES TO FOODAFT MAKES SURE THAT ITS FARMERS AND RANCHERS CAN STAY ON THE LAND, CONTINUING TO FEED AND CLOTHE US AND SUSTAIN AMERICA. AFT'S EFFORTS CONNECT COMMUNITIES TO HEALTHY FOOD WHILE GIVING FARMERS AND RANCHERS THE TOOLS THEY NEED TO SUCCEED. GIVEN THE AGE OF THE AVERAGE FARMER, AFT'S WORK TO HELP THE NEXT GENERATION OF FARMERS ACCESS THE LAND HAS NEVER BEEN MORE IMPORTANT.A SAMPLING OF 2018 ACHIEVEMENTS:AFT LAUNCHED FARMLAND FOR A NEW GENERATION NEW YORK, A RESOURCE CENTER AND WEBSITE THAT HELPS EXISTING FARMERS, NEW FARMERS, AND YOUNGER GENERATIONS OF FARM FAMILIES' ACCESS FARMLAND WHILE SUPPORTING RETIRING FARMERS AND LANDOWNERS IN SUCCESSFULLY TRANSFERRING THEIR FARMS THROUGHOUT NEW YORK.AFT EXPANDED OUR NATIONAL WOMEN FOR THE LAND PROGRAM ALREADY ACTIVE IN THE MIDWEST AND MID-ATLANTIC STATES TO CALIFORNIA AND HELD ITS FIRST WOMEN-ONLY LEARNING CIRCLE THERE.AFT ORGANIZED THE NEW YORK GROWN FOOD FOR NEW YORK KIDS COALITION THAT FOUGHT FOR AND ACHIEVED RECORD STATE FUNDING TO HELP K-12 SCHOOLS BUY MORE FOODS GROWN AND PRODUCED IN THE STATE WHILE STRENGTHENING THE ECONOMIC SECURITY OF FARMERS. 1812571 PUBLIC EDUCATION -ADVOCATE - AFT FIGHTS FOR PROGRAMS AND POLICIES THAT SAVE FARMLAND, SUPPORT FARMERS AND ENHANCE OUR ENVIRONMENT.EDUCATE - AFT EDUCATES THE PUBLIC ABOUT OUR NATION'S FARMS, FARMLAND AND FARMERS.INNOVATE - AFT PIONEERS CUTTING-EDGE TECHNIQUES THAT PROTECT FARMLAND AND PROTECT NATURAL RESOURCES.INVESTIGATE - AFT CONDUCTS RESPECTED RESEARCH AS THE FOUNDATION OF OUR PROGRAMS.COLLABORATE - AFT BUILDS COALITIONS TO ACHIEVE LARGE-SCALE SOLUTIONS AND LASTING CHANGE. 459640 COMMUNICATION AND MEDIA OUTREACH -AFT CONTINUOUSLY ENGAGES THE PUBLIC THROUGH OUR DIRECT COMMUNICATIONS WITH OUR MEMBERS, VARIOUS PUBLICATIONS, AND MEDIA OUTREACH. 435354 135434 OTHER PROGRAMS 435354 135434 8776133 1 1 0 1 0 0 1 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 59 0 1 91 1 1 1 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AK AR CA CT FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC OK OR PA RI SC TN UT VA WV WI X X ASHLEY BOVINO 2023317300 1150 CONNECTICUT AVENUE NW NO 600 WASHINGTON DC 20036 BARTON THOMPSON JR CHAIR 3.00 X X 0 0 0 JOHN HARDIN VICE CHAIR 3.00 X X 0 0 0 WILLIAM COHAN TREASURER 3.00 X X 0 0 0 ELIZABETH BECK DIRECTOR 1.00 X 0 0 0 WILLIAM BOEHM DIRECTOR 1.00 X 0 0 0 LYNN CLARKSON DIRECTOR 1.00 X 0 0 0 ROBERT E EGERTON JR DIRECTOR 1.00 X 0 0 0 GINA GALLO DIRECTOR 1.00 X 0 0 0 JENNIE TURNER GARLINGTON DIRECTOR 1.00 X 0 0 0 ELIZABETH JONES DIRECTOR 1.00 X 0 0 0 AG KAWAMURA DIRECTOR 1.00 X 0 0 0 LAURIE LANDEAU DIRECTOR 1.00 X 0 0 0 JAMES MOSELEY DIRECTOR 1.00 X 0 0 0 EA'MON O'TOOLE DIRECTOR 1.00 X 0 0 0 MANYA K RUBINSTEIN DIRECTOR 1.00 X 0 0 0 TRUMAN SEMANS DIRECTOR 1.00 X 0 0 0 GRANT WINTHROP DIRECTOR 1.00 X 0 0 0 JOHN PIOTTI PRESIDENT & CEO 37.50 X 294973 0 15417 ASHLEY BOVINO CFO AND VP OF FINANCE & ADMIN. 37.50 X 139241 0 6239 KATHIE LWANGA SECRETARY 37.50 X 66182 0 12960 RICK MONK ASSISTANT SECRETARY 16.00 X 51428 0 134 SUSAN SINK VP OF DEVELOPMENT 37.50 X 211513 0 18150 JOHN LARSON VP OF PROGRAMS 37.50 X 192456 0 26879 JAMES DAUKAS SENIOR PROGRAM OFFICER 37.50 X 129962 0 25038 JULIA FREEDGOOD FARMS FOR THE NEXT GENERATION DIR & SEN. ADVISOR 37.50 X 123066 0 15861 JENNIFER FUSCO SR. DIRECTOR OF DEV, NE 37.50 X 122038 0 328 HEIDI BLYTHE SR. DIRECTOR OF INSTITUTIONAL GIVING 37.50 X 116580 0 6926 SERENA UNGER CA SENIOR POLICY AND PLANNING MNGR 21.00 X 108034 0 5402 1555473 0 133334 16 0 1 0 PRODUCTION SOLUTIONS INC 1953 GALLOWS ROAD SUITE 600 VIENNA VA 22182 DIRECT MAIL PRODUCTION 1225388 US RESOURCES INC 115 BEULAH ROAD NE SUITE 200C VIENNA VA 22180 IT SUPPORT 217647 CONSERVATION SCIENCE PARTNERS 11050 PIONEER TRAIL 202 TRUCKEE CA 96161 CONSULTING SERVICES 153564 GRAND TRAV REG LAND CONSERV 3860 N LONG LAKE RD STE D TRAVERSE CITY MI 49684 CONSULTING SERVICES 131020 KING CONSERVATION DISTRICT 1107 SW GRADY WAY SUITE 130 RENTON WA 98057 CONSULTING SERVICES 112769 8 15882 1673830 1875945 12034517 1565540 15600174 CONFERENCES 900099 15985 15985 15985 107952 107952 368364 294232 74132 74132 74132 OTHER INCOME 900099 27657 27657 RECAPTURED EXPENSES 900099 7240 7240 SUBLEASE INCOME 531390 6181 6181 4556 4556 45634 15843877 15985 0 227718 X 120000 120000 104570 104570 1079041 788978 164400 125663 3210312 2408812 56660 744840 166600 126080 4447 36073 1021826 764759 42186 214881 349109 260576 17060 71473 44028 33051 7147 3830 55144 37431 11532 6181 202950 202950 118014 92856 8294 16864 1571983 1517757 54226 11028 8966 434 1628 1413925 1172782 37377 203766 486212 362425 77658 46129 402148 287424 23854 90870 219430 156831 13016 49583 165819 109516 36656 19647 34309 27895 1348 5066 NEWSLETTER & PUBLISHING 498418 395424 675 102319 11274866 8776133 556970 1941763 2114042 1812571 0 301471 230 5092859 1771329 70341 4475285 9161634 544498 0 58918 45221 2393406 1147568 558657 1245838 16507681 19681415 448787 37402 24365385 35334710 921911 1131990 110769 95000 855675 764589 1888355 1991579 X 12062962 20460540 7375739 9844262 3038329 3038329 22477030 33343131 24365385 35334710 X 4569011 2306365 4030000 -39275 X 0 1 X 1 1 1 X 7170759 6635514 8687131 14430685 15600174 52524263 7170759 6635514 8687131 14430685 15600174 52524263 12301386 40222877 642861 625786 474160 302475 119089 2164371 31355 35921 74315 23515 34897 200003 54888637 767373 0.73280 0.82490 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: RECAPTURED EXPENSES - 2013 AMOUNT: $ 22,303. 2014 AMOUNT: $ 18,818. 2015 AMOUNT: $ 45,402. 2016 AMOUNT: $ 12,922. 2017 AMOUNT: $ 7,240. OTHER INCOME - 2013 AMOUNT: $ 9,052. 2014 AMOUNT: $ 17,103. 2015 AMOUNT: $ 28,913. 2016 AMOUNT: $ 10,593. 2017 AMOUNT: $ 27,657. 0 37627 37627 11031228 11068855 703443 175861 0 0 575106 593911 664294 703443 2536754 3805131 16340 16143 40930 37627 111040 143777 148478 166074 175861 634190 951285 X X X X 99 40494.00 1 20 1 2734.00 189035 16507681 10477311 2350163 1011761 28323394 15653310 2973090 2118719 16507681 17015260 2038597 3400547 15653310 20215304 35000 -322464 2912580 17015260 20784538 1249860 2181857 4000951 20215304 0.82330 0.10730 0.06940 0 0 825000 825000 658344 390039 268305 259829 199693 60136 650233 557836 92397 1245838 CHARITABLE GIFT ANNUTIES AND OTHER TRUSTS 708891 F MUTUAL FUNDS 11856452 F COMMON STOCKS 4914658 F FUND OF FUNDS 2201414 F 19681415 CHARITABLE GIFT ANNUITIES PAYABLE 157469 DEFERRED RENT AND LEASE INCENTIVES 606745 SECURITY DEPOSITS 375 764589 X 18176332 2306365 65365 -39275 2332455 15843877 0 15843877 11340231 65365 65365 11274866 0 11274866 PART II, LINE 5: AFT'S POLICY IS TO MONITOR EACH OF ITS EASEMENTS EVERY YEAR, UNLESS AN ISSUE OR CIRCUMSTANCE REGARDING A PARTICULAR PROPERTY WARRANTS MORE FREQUENT VISITS. AFT HAS ALSO ADOPTED A VIOLATIONS POLICY THAT ADDRESSES THE MANNER IN WHICH AFT DETERMINES AND ENFORCES VIOLATIONS OF CONSERVATION EASEMENTS. AFT CONTINUALLY EVALUATES EACH EASEMENT ON A CASE-BY-CASE BASIS TO DETERMINE THE APPROPRIATE MONITORING AND INSPECTION NEEDS REQUIRED TO ENSURE THAT THE CONSERVATION PURPOSES OF THE EASEMENT ARE UPHELD. PART II, LINE 9: IT IS AFT'S POLICY, WHEN ACQUIRING OR ACCEPTING AN EASEMENT, TO EXTINGUISH IN PERPETUITY THE DEVELOPMENT RIGHTS ON THE UNDERLYING PROPERTY. CONSEQUENTLY, ALL SUCH EASEMENTS ARE VALUED AT ONE DOLLAR. EASEMENTS WHOSE DEVELOPMENT RIGHTS ARE NOT SO TREATED HAVE ALSO BEEN VALUED AT ONE DOLLAR BECAUSE IT IS MANAGEMENT'S OPINION THAT THE ORGANIZATION WILL NOT RECOVER ITS COST FOR THESE EASEMENTS. ANY PROCEEDS FROM THE SALE OF A CONSERVATION EASEMENT TO A QUALIFIED ENTITY ARE MAINTAINED IN THE ORGANIZATION'S FARMLAND PROTECTION FUND. PART V, LINE 4: AFT IS COMMITTED TO A LONG-TERM APPROACH WITH A BALANCED PROGRAM OF INVESTMENTS TO PRESERVE AND ENHANCE THE REAL PURCHASING POWER OF THE FUND SO AS TO PROVIDE A STABLE AND, IN REAL TERMS, CONSTANT STREAM OF CURRENT INCOME FOR ANNUAL OPERATING NEEDS. PART X, LINE 2: AFT EVALUATED ITS UNCERTAINTY IN INCOME TAXES FOR THE YEAR ENDED SEPTEMBER 30, 2018, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE ON SPLIT INTEREST AGREEMENTS -39,275. X X X X X 1 EIDOLON COMMUNICATIONS 15 MAIDEN LANE SUITE 1401 NEW YORK NY 10038 DIRECT MAIL 0 1678835 202950 1475885 1678835 202950 1475885 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OR PA RI SC TN TX UT VA WA WV WI 1 GRAND TRAVERSE REGIONAL LAND CONSERVANCY 3860 N LONG LAKE ROAD TRAVERSE CITY MI 49684 382994229 501(C)(3) 110000 0 PROTECTING FARMLAND 1 0 GRANT AWARD TO FARMERS 18 89192 TRAVEL STIPENDS 21 15378 PART I, LINE 2: TRAVEL STIPENDS ARE PROVIDED AFTER THE PARTICIPANTS ATTENDED THE MEETING. AWARDS TO FARMERS ARE PROVIDED AFTER THE WORK HAS BEEN COMPLETED INCLUDING EVALUATION FROM PARTICIPANTS. FOR SUB-AWARDS WE REQUIRE GRANTEES TO PROVIDE BOTH INTERIM AND FINAL REPORT ON THE USE OF AWARDED FUNDS TO ENSURE THAT FUNDS ARE USED IN A MANNER CONSISTENT WITH THE GRANT PURPOSE. X X 1 0 0 0 0 0 0 0 0 JOHN PIOTTI PRESIDENT & CEO 294973 0 0 0 0 0 4304 0 11113 0 310390 0 0 0 SUSAN SINK VP OF DEVELOPMENT 162782 0 0 0 48731 0 8251 0 9899 0 229663 0 0 0 JOHN LARSON VP OF PROGRAMS 192456 0 0 0 0 0 10070 0 16809 0 219335 0 0 0 JAMES DAUKAS SENIOR PROGRAM OFFICER 129962 0 0 0 0 0 7485 0 17553 0 155000 0 0 0 PART I, LINE 4A SUSAN SINK, WHO SERVED AS VP OF DEVELOPMENT UNTIL JANUARY 2018, RECEIVED A SEVERANCE PAYMENT OF $33,225 DURING 2017. X 1 746540 FMV X FARMLAND 1 819000 FMV 0 0 0 PART I, COLUMN (B): THIS COLUMN REPRESENTS THE TOTAL NUMBER OF CONTRIBUTIONS RECEIVED DURING THE YEAR ENDED SEPTEMBER 30, 2018. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 IS PREPARED BY MARCUM, LLP AND THEN THE DRAFT VERSION OF THE FEDERAL FORM 990 IS REVIEWED AND VERIFIED BY THE CONTROLLER. THE DRAFT FEDERAL FORM 990 IS ALSO DISTRIBUTED TO AFT'S AUDIT COMMITTEE AS WELL AS THE ENTIRE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS SUBMIT A CONFLICT OF INTEREST STATEMENT ON AN ANNUAL BASIS FOLLOWING THE FALL BOARD MEETING. THE STATEMENTS ARE SENT TO THE AFT GENERAL COUNSEL FOR REVIEW. ANY CONFLICTS ARE REPORTED TO AFT. ALL EMPLOYEES ARE NOTIFIED ANNUALLY OF THE CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO REPORT ANY CONFLICT TO THE GENERAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS DELEGATED RESPONSIBILITY TO THE EXECUTIVE COMMITTEE FOR APPROVING ANY COMPENSATION ARRANGEMENTS WITH DISQUALIFIED PERSONS AS DEFINED UNDER THE INTERNAL REVENUE CODE (GENERALLY SENIOR MANAGEMENT, PERSONS WHO, AT ANY TIME DURING THE PRIOR 5-YEARS, WERE IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE OVER THE AFFAIRS OF THE ORGANIZATION OR PERSONS RELATED). THE COMMITTEE FUNCTIONS AS DE FACTO. COMPENSATION COMMITTEE IN ADDITION TO ITS OTHER RESPONSIBILITIES. THE COMMITTEE IS COMPRISED OF OUTSIDE, DISINTERESTED DIRECTORS WHO POSSESS THE BUSINESS EXPERIENCE AND KNOWLEDGE NECESSARY TO REVIEW AND EVALUATE THE COMPARABILITY OF COMPENSATION DATA OBTAINED FOR THE COMMITTEE. THE COMMITTEE DETERMINES WHICH AFT EMPLOYEES OR CONTRACTORS SHOULD BE CONSIDERED "DISQUALIFIED PERSONS" (IN ADDITION TO THE LIST OF PERSONNEL WHO ARE PER SE DISQUALIFIED) WHOSE COMPENSATION SHOULD BE SUBJECT TO APPROVAL. ALSO, THE COMMITTEE EVALUATES AND APPROVES THE COMPENSATION ARRANGEMENTS ENTERED INTO BY AFT WITH ALL DISQUALIFIED PERSONS. (THESE INCLUDE ALL COMPENSATION AND BENEFITS, INCLUDING SALES OR OTHER TRANSFERS OF PROPERTY.) THE COMMITTEE GENERALLY UTILIZES INFORMATION FROM STANDARD COMPENSATION SURVEYS IN CONDUCTING ITS EVALUATION. THE COMMITTEE DOCUMENTS ITS PROCEEDINGS WITH WRITTEN RECORDS, SETTING FORTH THE TERMS OF THE COMPENSATION ARRANGEMENTS APPROVED AND THE DATE THEY WERE APPROVED. THE RECORDS INCLUDE THE NAMES OF THE COMMITTEE MEMBERS PRESENT AND WHO VOTED; THE COMPARABILITY DATA OBTAINED AND RELIED UPON BY THE COMMITTEE; HOW THE DATA WAS OBTAINED; AND THE ACTIONS TAKEN WITH RESPECT TO CONSIDERATION OF COMPENSATION TRANSACTIONS BY ANYONE WHO IS OTHERWISE A MEMBER OF THE COMMITTEE, BUT WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE TRANSACTION OR ARRANGEMENT. THIS DOCUMENTATION IS PREPARED BY THE LATER OF (A) THE NEXT MEETING OF THE COMMITTEE OCCURRING AFTER THE DECISION IS MADE OR (B) THE DATE 60 DAYS AFTER THE DATE OF APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 AFT'S FINANCIAL STATEMENTS AND FEDERAL FORM 990 ARE AVAILABLE ON ITS WEBSITE OR BY WRITTEN REQUEST. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 1,501,856. MANAGEMENT AND GENERAL EXPENSES 54,226. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,556,082. PAYROLL PROCESSING FEES: PROGRAM SERVICE EXPENSES 15,901. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,901. FORM 990, PART XI, LINE 9: CHANGE IN VALUE ON SPLIT INTEREST AGREEMENTS -39,275.