2018-11-05T12:21:00-06:00 2018-04-30 410746749 CLIFTONLARSONALLEN LLP 1966 GREENSPRING DRIVE SUITE 300 TIMONIUM MD 210934161 990 2017-05-01 462748824 INNER ARBOR TRUST INC INNE 4438323223 5430 VANTAGE POINT ROAD NO A COLUMBIA MD 21044 NINA BASU ESQ PRESIDENT & CEO 4438323223 2018-09-28 1 LAUREN BALLARD CPA P01451787 4104530900 67.137.57.251 2018-09-28 13:49:23 ED P 73165959F041044F9DC26414D498D34F5ABB8EC7 3CF3DD9031688C69FC97E727F610E3BA20E5E1B3 2017 2018-06-14 16:35:46Z X NINA BASU 5430 VANTAGE POINT ROAD NO A COLUMBIA MD 21044 305920 0 X HTTP://INARTRUST.ORG/ X 2013 MD TO DEVELOP AND REVITALIZE OPEN SPACE, KNOWN AS SYMPHONY WOODS, AS A PUBLIC PARK. 6 6 0 26 0 0 552269 117545 2896453 183668 51 84 0 4623 3448773 305920 0 0 0 0 0 60000 0 0 0 168163 422108 168163 482108 3280610 -176188 8688670 7907515 854330 249363 7834340 7658152 TO DEVELOP AND REVITALIZE OPEN SPACE, KNOWN AS SYMPHONY WOODS, OWNED BY THE COLUMBIA ASSOCIATION (AN INDEPENDENTLY OPERATED 501(C)(4) ASSOCIATION), AND WITH HOWARD COUNTY, MD IN ORDER TO PRESENT IT AS A PUBLIC PARK. 0 0 419463 0 183668 INNER ARBOR TRUST OPENED THE ICONIC CHRYSALIS AMPHITHEATER ON APRIL 22, 2017, BRINGING HIGH-QUALITY ARTS AND CULTURE PROGRAMMING TO DOWNTOWN COLUMBIA. THE CHRYSALIS PRESENTS PERFORMANCES, INCLUDING COMMERCIAL TICKETED, NON-COMMERCIAL TICKETED, AND FREE AND OPEN TO THE PUBLIC EVENTS. 419463 1 1 0 0 0 0 1 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 17 0 0 0 0 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 MD X X KIRSTEN COOMBS 4438323223 5430 VANTAGE POINT ROAD NO A COLUMBIA MD 21044 LIN EAGAN CHAIR 3.00 X X 0 0 0 GREGG M SCHWIND SECRETARY 3.00 X X 0 0 0 MILTON W MATTHEWS EX OFFICIO DIRECTOR 3.00 X 0 0 0 DAVID SCIMARELLI DIRECTOR 3.00 X 0 0 0 MARY ANN SCULLY DIRECTOR 3.00 X 0 0 0 ERIC METZMAN DIRECTOR 3.00 X 0 0 0 KIRSTEN COOMBS TREASURER 3.00 X 0 0 0 NINA BASU ESQ PRESIDENT & CEO 40.00 X 20000 0 0 20000 0 0 0 0 0 0 THE WHITING-TURNER CONTRACTING CO 300 EAST JOPPA ROAD BALTIMORE MD 21286 STRUCTURE/ENGINEERING 1357897 A ZAHNER COMPANY 1400 EAST 9TH STREET KANSAS CITY MO 64106 STRUCTURE/ENGINEERING 255290 IT'S MY AMPHITHEATER INC 10475 LITTLE PATUXENT PARKWAY COLUMBIA MD 21044 PARK IMPROVEMENTS 105234 3 94772 22773 117545 PAVILLION USE INCOME 713990 174617 174617 PARK EVENT INCOME 713990 9051 9051 183668 84 84 MISCELLANEOUS INCOME 900099 4623 4623 4623 305920 183668 0 4707 60000 30000 30000 8114 3510 4604 14715 14715 2588 2588 32215 31376 839 169 169 8268 2580 5688 9185 7727 1458 150 150 158223 158223 1218 1218 PARK EVENTS & FESTIVALS 186798 183459 3339 465 465 482108 419463 62645 0 38130 880 151215 72277 896356 45000 36066 7911165 158223 7602619 7752942 350 350 8688670 7907515 695195 119999 159135 129364 854330 249363 X 7713340 7658152 121000 0 7834340 7658152 8688670 7907515 -176188 0 X 0 1 X 1 0 X 1720020 713630 2003935 3176410 117545 7731540 1720020 713630 2003935 3176410 117545 7731540 7731540 644 199 123 51 84 1101 50 4623 4673 7737314 341868 0.99930 X X 1 51.00 0 0 0 1 0 7911165 158223 7752942 7752942 X 305920 0 305920 0 305920 482108 0 482108 0 482108 PART X, LINE 2: THE TRUST IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AS AN ORGANIZATION, WHICH IS NOT A PRIVATE FOUNDATION. THE TRUST IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. UNRELATED BUSINESS INCOME MAY BE SUBJECT TO FEDERAL AND STATE INCOME TAXES. MANAGEMENT BELIEVES THAT IT HAS NO MATERIAL UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION UNDER THE ACCOUNTING CODIFICATION GUIDANCE. PART II, LINE 9 IAT DOES NOT ACCOUNT FOR THE EASEMENT ON ITS BALANCE SHEET, OR AS A CONTRIBUTION OR EXPENSE FOR REPORTING PURPOSES. FORM 990, PART VI, SECTION A, LINE 7A ACCORDING TO THE TRUST'S BYLAWS, THE COLUMBIA ASSOCIATION, INC., AN INDEPENDENTLY OPERATED 501(C)(4) ASSOCIATION, MAINTAINS A MINORITY REPRESENTATION ON THE TRUST'S 7 MEMBER BOARD OF DIRECTORS THROUGH TWO APPOINTED VOTING MEMBERS, AND ONE EX-OFFICIO VOTING MEMBER. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD REVIEWS THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS MUST READ AND REVIEW THE CONFLICT OF INTEREST POLICY AT THE BEGINNING OF THE TERM. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT/DUALITY OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST OR CONFLICT/DUALITY OF INTEREST, AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE BOARD OR EXECUTIVE COMMITTEE. ANY DIRECTOR SHALL RECUSE HIMSELF OR HERSELF AT ANY TIME FROM INVOLVEMENT IN ANY DECISION OR DISCUSSION IN WHICH THE DIRECTOR BELIEVES HE OR SHE HAS OR MAY HAVE A CONFLICT/ DUALITY OF INTEREST, WITHOUT GOING THROUGH THE PROCESS FOR DETERMINING WHETHER A CONFLICT/ DUALITY OF INTEREST EXISTS. AFTER DISCLOSURE OF THE CONFLICT/ DUALITY OF INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/ SHE SHALL LEAVE THE BOARD OR EXECUTIVE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT/ DUALITY OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR EXECUTIVE COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT/DUALITY OF INTEREST EXISTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR EXECUTIVE COMMITTEE MEETING, BUT AFTER THE PRESENTATION, HE/SHE SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT/DUALITY OF INTEREST. THE CHAIRPERSON OF THE BOARD OR EXECUTIVE COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION, ARRANGEMENT OR DECISION. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER THE TRUST CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION, ARRANGEMENT OR DECISION FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT/DUALITY OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION, ARRANGEMENT OR DECISION IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT/DUALITY OF INTEREST, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION, ARRANGEMENT OR DECISION IS IN THE TRUST'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. IN CONFORMITY WITH THE ABOVE DETERMINATION, IT SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION, ARRANGEMENT OR DECISION. ANY BOARD MEMBER HAVING A CONFLICT/DUALITY OF INTEREST SHALL NOT VOTE OR USE HIS OR HER PERSONAL INFLUENCE TO ADDRESS THE MATTER, AND THE BOARD MEMBER SHOULD NOT BE COUNTED IN DETERMINING THE QUORUM FOR THE MEETING. THE MINUTES OF THE BOARD AND ALL COMMITTEES WITH BOARD DELEGATED POWERS SHALL CONTAIN THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL, CONFLICT/DUALITY OF INTEREST, THE NATURE OF THE CONFLICT/DUALITY OF INTEREST, ANY ACTION TAKEN TO DETERMINE WHETHER A CONFLICT/DUALITY OF INTEREST WAS PRESENT, AND THE BOARD'S OR EXECUTIVE COMMITTEE'S DECISION AS TO WHETHER A CONFLICT/DUALITY OF INTEREST, IN FACT, EXISTED. ADDITIONALLY, THE NAMES OF THE PERSONS WHO WERE PRESENT FOR DISCUSSIONS AND VOTES RELATING TO THE TRANSACTION OR ARRANGEMENT, THE CONTENT OF THE DISCUSSION, INCLUDING ANY ALTERNATIVES TO THE PROPOSED TRANSACTION, ARRANGEMENT OR DECISION, AND A RECORD OF ANY VOTES TAKEN IN CONNECTION WITH THE PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS VOTED ON AND APPROVED BY THE BOARD. THE EMPLOYMENT CONTRACT IS THEN REVIEWED BY OUTSIDE COUNSEL PRIOR TO SIGNING. FORM 990, PART VI, SECTION C, LINE 19 THE TRUST MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.