2018-10-15T11:15:58-05:00 2018-05-31 450250958 EIDE BAILLY LLP 7001 E BELLEVIEW AVE STE 700 DENVER CO 80237 990 2017-06-01 742215035 VAIL VALLEY FOUNDATION VAIL 9707772015 PO BOX 6550 AVON CO 81620 ROBERT J FORD CHIEF FINANCIAL OFFICER 9709491999 2018-10-12 1 KIM C HUNWARDSEN CPA P00382889 3037705700 2018-10-11 50.203.234.82 2018-10-12 10:09:27 MD P 38E7B26ACDED65A6206348105EC66FC115FD0A44 38E7B26ACDED65A6206348105EC66FC115FD0A44 2017 2018-06-14 16:35:46Z ROBERT J FORD PO BOX 6550 AVON CO 81620 20365939 0 X WWW.VVF.ORG X 1983 CO ENHANCING THE QUALITY OF LIFE IN THE VAIL VALLEY 48 47 569 0 -47817 -47817 5549174 9840302 2913055 9410133 212086 426082 -50317 -79803 8623998 19596714 1339418 1078590 0 0 3083449 5798365 0 0 3422340 5607467 12416422 10030334 19293377 -1406336 303337 31230539 31413030 12047604 11675447 19182935 19737583 X VAIL VALLEY FOUNDATION WAS CREATED FOR THE PURPOSE OF RAISING AND DISTRIBUTING FUNDS FOR CHARITABLE PURPOSES THROUGH THE ORGANIZATION OF EDUCATIONAL, CULTURAL, HISTORICAL, ARTISTIC AND ATHLETIC PERFORMANCES, EVENTS AND ATTRACTIONS FOR THE EDUCATION AND BENEFIT OF THE COMMUNITY. 0 0 3685922 1999491 THE VILAR PERFORMING ARTS CENTER THEATRE OPERATIONS INCLUDE PROMOTING AND DEVELOPING AWARENESS AND APPRECIATION OF THE ARTS AND EDUCATING THE GENERAL PUBLIC ABOUT THE ARTS THROUGH PROGRAMS, ACTIVITIES, AND EVENTS TO FOSTER THE ARTS AND ARTS EDUCATION. THE THEATRE IS LOCATED WITHIN BEAVER CREEK RESORT PROVIDING YEAR-ROUND PERFORMANCES INCLUDING BROADWAY MUSICALS, ROCK CONCERTS, FAMILY SHOWS, COMEDY SHOWS, DANCE AND FILM FESTIVALS, JAZZ CONCERTS AND MORE. 2633492 2190356 VAIL VALLEY FOUNDATION HOSTS THE BIRDS OF PREY WORLD CUP INTERNATIONAL ALPINE SKI RACE ANNUALLY. THE RACE CONSISTS OF A WORLD CUP MEN'S SUPER-COMBINED, WORLD CUP MEN'S DOWNHILL, AND A WORLD CUP MEN'S SLALOM COMPETITION. THIS ATHLETIC EVENT ATTRACTS PEOPLE FROM AROUND THE WORLD HELPING TO PROMOTE THE TOWN OF VAIL AND THE QUALITY OF LIFE IN THE VAIL VALLEY AREA. 2119788 1047265 VAIL VALLEY FOUNDATION HOLDS THE VAIL DANCE FESTIVAL EVERY YEAR. THE FESTIVAL INCLUDES SEVERAL PERFORMANCES BY INTERNATIONAL COUPLES AND ENSEMBLES FROM MAJOR INTERNATIONAL COMPANIES HELD AT THE GERALD R. FORD AMPHITHEATER. THE PERFORMANCES VARY FROM YEAR TO YEAR, BUT FREQUENTLY INCLUDE GUEST ARTISTS FROM THE AMERICAN BALLET THEATRE AND OTHER WORLD-CLASS COMPANIES. THE FESTIVAL PROVIDES EDUCATION AND ENHANCES THE APPRECIATION AND AVAILABILITY OF DANCE IN THE VAIL COMMUNITY. 4567758 1078590 4173021 VAIL VALLEY FOUNDATION HOSTS AND SPONSORS A VARIETY OF OTHER EVENTS IN THE VAIL VALLEY AREA INCLUDING GOPRO MOUNTAIN GAMES, HOT SUMMER NIGHTS, SHOW DOWN TOWN, AND WHISTLE PIG VAIL. THE EVENTS HELP TO SUPPORT A VARIETY OF EDUCATIONAL PROGRAMS, OTHER NONPROFIT ORGANIZATIONS, STRENGTHENING FAMILIES WITHIN THE COMMUNITY, AND KEEPING THE COMMUNITY VITAL AND EXCITING. 4567758 1078590 4173021 13006960 1 1 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 317 1 1 569 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 X 48 47 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CO X HEIDI ELZINGA 9707772015 90 BENCHMARK ROAD STE 300 AVON CO 81620 MICHAEL IMHOF PRESIDENT/CHIEF EXECUTIVE OFFICER 40.00 15.00 X X 302896 0 15137 ANN SMEAD CHAIRMAN 0.50 1.00 X X 0 0 0 ANDY ARNOLD BOARD MEMBER 0.50 1.00 X 0 0 0 JOHN ARNOLD BOARD MEMBER 0.50 1.00 X 0 0 0 HANS BERGLUND BOARD MEMBER 0.50 1.00 X 0 0 0 JUDY BERKOWITZ BOARD MEMBER 0.50 1.00 X 0 0 0 SAM BRONFMAN BOARD MEMBER 0.50 1.00 X 0 0 0 SUSAN CAMPBELL BOARD MEMBER 0.50 1.00 X 0 0 0 CHARLENE CHEN BOARD MEMBER 0.50 1.00 X 0 0 0 STEVE COYER BOARD MEMBER 0.50 1.00 X 0 0 0 ANDY DALY BOARD MEMBER 0.50 1.00 X 0 0 0 RON DAVIS BOARD MEMBER 0.50 1.00 X 0 0 0 MATT DONOVAN BOARD MEMBER 0.50 1.00 X 0 0 0 BILL ESREY BOARD MEMBER 0.50 1.00 X 0 0 0 JOHANNES FAESSLER BOARD MEMBER 0.50 1.00 X 0 0 0 TIM FINCHEM BOARD MEMBER 0.50 1.00 X 0 0 0 STEVE FRIEDMAN BOARD MEMBER 0.50 1.00 X 0 0 0 JOHN GARNSEY BOARD MEMBER 0.50 1.00 X 0 0 0 MARGIE GART BOARD MEMBER 0.50 1.00 X 0 0 0 DONNA GIORDANO BOARD MEMBER 0.50 1.00 X 0 0 0 SHEIKA GRAMSHAMMER BOARD MEMBER 0.50 1.00 X 0 0 0 MICHAEL HERMAN BOARD MEMBER 0.50 1.00 X 0 0 0 BETH HOWARD BOARD MEMBER 0.50 1.00 X 0 0 0 AL HUBBARD BOARD MEMBER 0.50 1.00 X 0 0 0 BJ HYBL BOARD MEMBER 0.50 1.00 X 0 0 0 CHRISTOPHER JARNOT BOARD MEMBER 0.50 1.00 X 0 0 0 GEORGE JOHNSON BOARD MEMBER 0.50 1.00 X 0 0 0 ALEXIA JURSCHAK BOARD MEMBER 0.50 1.00 X 0 0 0 MARK KOGAN BOARD MEMBER 0.50 1.00 X 0 0 0 DOUG LOVELL BOARD MEMBER 0.50 1.00 X 0 0 0 SARAH MILLETT BOARD MEMBER 0.50 1.00 X 0 0 0 ELLEN MORITZ BOARD MEMBER 0.50 1.00 X 0 0 0 KAIA MORITZ BOARD MEMBER 0.50 1.00 X 0 0 0 BOBBY PATTON BOARD MEMBER 0.50 1.00 X 0 0 0 MICHAEL PRICE BOARD MEMBER 0.50 1.00 X 0 0 0 ERIC RESNICK BOARD MEMBER 0.50 1.00 X 0 0 0 RICHARD ROTHKOPF BOARD MEMBER 0.50 1.00 X 0 0 0 KEN SCHANZER BOARD MEMBER 0.50 1.00 X 0 0 0 MIKE SHANNON BOARD MEMBER 0.50 1.00 X 0 0 0 STANLEY SHUMAN BOARD MEMBER 0.50 1.00 X 0 0 0 ROD SLIFER BOARD MEMBER 0.50 1.00 X 0 0 0 HAP STEIN BOARD MEMBER 0.50 1.00 X 0 0 0 KRISTIN TANG BOARD MEMBER 0.50 1.00 X 0 0 0 FRED TRESCA BOARD MEMBER 0.50 1.00 X 0 0 0 STEWART TURLEY BOARD MEMBER 0.50 1.00 X 0 0 0 MARY WEBSTER BOARD MEMBER 0.50 1.00 X 0 0 0 BETSY WIEGERS BOARD MEMBER 0.50 1.00 X 0 0 0 GARY WOODWORTH BOARD MEMBER 0.50 1.00 X 0 0 0 ROBERT J FORD CHIEF FINANCIAL OFFICER 40.00 15.00 X 196085 0 27555 DAVID DRESSMAN VP OF SALES 40.00 X 193939 0 21230 DUNCAN HORNER EXECUTIVE DIRECTOR OF VPAC 40.00 X 190238 0 22661 MELISA REWOLD-THUON VP OF EDUCATION 40.00 X 163854 0 21440 LEE JONES VP OF DEVELOPMENT 40.00 X 124344 0 10963 BRIAN MULLER IT DIRECTOR 40.00 X 115468 0 8667 JESSICA STEVENS SALES DIRECTOR 40.00 X 128064 0 15589 GREGORY BLOOM SALES DIRECTOR 40.00 X 103231 0 7276 1518119 0 150518 9 0 1 0 Q BIRD PRODUCTIONS INC 338 W 72ND ST 2 NEW YORK NY 10023 ARTISTIC DIRECTOR SERVICES 358838 1 693753 1113000 8033549 1406417 9840302 BIRDS OF PREY 711310 2190356 2190356 MOUNTAIN GAMES 711310 2183533 2183533 VILAR PERFORMING ARTS CENTER 711310 1999491 1999491 VAIL DANCE FESTIVAL 711310 1047265 1047265 GERALD R. FORD AMPHITHEATER 711310 789930 789930 1199558 1199558 9410133 306015 -47817 353832 758419 638352 120067 120067 120067 51070 693753 130873 -79803 -79803 19596714 9410133 -47817 394096 1078335 1078335 255 255 1219710 1048203 171507 3485446 1219672 1328545 937229 116409 29812 56739 29858 647633 208726 290025 148882 329167 153110 107951 68106 96718 6348 90370 49621 19950 29671 25534 25534 1198534 1138160 47470 12904 1241993 265838 976155 484126 78660 303411 102055 251977 181704 70273 571355 498428 30942 41985 1009891 1009891 273572 136786 136786 936634 796943 139691 190274 172646 17628 PERFORMERS, TALENT & SP 2119143 2119143 AWARDS & PRIZE EXPENSES 1262234 1107392 154842 MEMBERSHIP BENEFITS 940056 940056 CONCESSIONS & SOCIAL EX 686817 676903 5386 4528 1077943 1060055 12148 5740 19293377 13006960 2864077 3422340 2303142 2587114 1873760 1662309 338659 74086 4550 5898 797338 917858 24808715 10780947 14918265 14027768 10095535 11638472 505065 497065 394225 2460 31230539 31413030 1638804 1291913 4093427 4437298 4840310 4699372 1475063 1246864 12047604 11675447 X 16835562 11656177 1042054 0 1305319 8081406 19182935 19737583 31230539 31413030 X 303337 637779 -386468 X 0 1 X 1 0 X 16767349 20578134 9931305 5549174 9840302 62666264 15753556 36506244 9283772 3042475 9461203 74047250 32520905 57084378 19215077 8591649 19301505 136713514 2416557 3802251 2655344 2189985 3710830 14774967 555641 22442568 2866128 237284 26101621 2972198 26244819 5521472 2427269 3710830 40876588 95836926 374360 279862 215476 194186 306015 1369899 374360 279862 215476 194186 306015 1369899 32895265 57364240 19430553 8785835 19607520 138083413 0.69410 0.66430 0.00990 0.00940 X SCHEDULE A, PART III: THE ORGANIZATION FILED A SHORT YEAR RETURN FOR THE PERIOD OCTOBER 1, 2016 TO MAY 31, 2017, EFFECTIVELY CHANGING THEIR ACCOUNTING PERIOD FROM A FISCAL YEAR ENDING SEPTEMBER 30TH TO A FISCAL YEAR ENDING MAY 31ST. IN ORDER TO PROPERLY REFLECT THE ORGANIZATION'S PUBLIC CHARITY STATUS AND PUBLIC SUPPORT FOR THE PURPOSES OF SCHEDULE A, PART III (SUPPORT SCHEDULE FOR ORGANZIATION'S DESCRIBED IN SECTION 509(A)(2)), THE ORGANIZATION IS REPORTING THEIR ACTIVITY FOR FISCAL YEARS ENDING SEPTEMBER 30, 2014 THROUGH SEPTEMBER 30, 2016, THE ACTIIVTY FOR THE SHORT YEAR ENDING MAY 31, 2017, AND THE ACTIVITY FOR FISCAL YEAR ENDED MAY 31, 2018 FOR THE FIVE YEAR PUBLIC SUPPORT COMPUTATION ON SCHEDULE A. 22 4 769941 90499 737119 8933 3877486 874092 1 1 3857464 1000000 276224 208439 4925249 3647167 223239 12942 3857464 3363539 348628 65000 3647167 3714112 146256 -431829 65000 3363539 3769547 0 443880 499315 3714112 0.01000 0.87000 0.12000 0 0 20027565 8233411 11794154 1024029 308384 715645 2745453 1413847 1331606 1011668 825305 186363 14027768 INTEREST RATE SWAP LIABILITY 913621 REFUNDABLE ADVANCES 150000 DUE TO RELATED PARTIES 183243 1246864 X 20504179 637779 295220 932999 19571180 25534 25534 19596714 19563063 295220 295220 19267843 25534 25534 19293377 PART V, LINE 4: VAIL VALLEY FOUNDATION'S INTENDED USE OF THE PERMANENT ENDOWMENT FUND IS TO USE THE EARNINGS FROM THE INVESTED FUNDS FOR REPAIR AND MAINTENANCE EXPENSES ON THE FORD AMPHITHEATER. TEMPORARILY RESTRICTED DESIGNATED ENDOWMENTS ARE USED TO FUND EDUCATIONAL, SCHOLARSHIP, AND OTHER PROGRAMS OF THE FOUNDATION. PART X, LINE 2: VAIL VALLEY FOUNDATION, VILAR CENTER FOR THE ARTS FOUNDATION AND YOUTHPOWER365 ARE ORGANIZED AS COLORADO NONPROFIT CORPORATIONS AND HAVE BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS ORGANIZATIONS DESCRIBED IN SECTION 501(C)(3). VVF HAS BEEN DETERMINED TO NOT BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) AND QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VIII). VCAF AND YOUTHPOWER HAVE BEEN DETERMINED TO NOT BE PRIVATE FOUNDATIONS UNDER SECTION 509(A)(1) AND BOTH QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VI). EACH ENTITY IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE ENTITIES ARE SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. VCAF AND YOUTHPOWER HAVE DETERMINED THEY ARE NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAVE NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. VVF FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME AND THESE TAX FILINGS ARE NO LONGER SUBJECT TO EXAMINATION FOR YEARS BEFORE 2014. NO INCOME TAXES WERE PAID DURING OR FOR THE YEARS ENDED MAY 31, 2018 AND 2017. VVF BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ENTITIES WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED. BLACK DIAMOND BALL 744823 693753 51070 525 48415 76984 4949 744823 693753 51070 525 48415 76984 4949 130873 -79803 1 WALKING MOUNTAINS SCIENCE CENTER PO BOX 9469 AVON CO 81620 841436731 501(C)(3) 170000 GENERAL SUPPORT YOUTHPOWER365 PO BOX 6550 AVON CO 81620 841442909 501(C)(3) 779500 GENERAL SUPPORT AND DAF GRANTS FOR EDUCATIONAL SUPPORT VAIL PERFORMING ARTS ACADEMY PO BOX 2300 EDWARDS CO 81632 841472671 501(C)(3) 8000 GENERAL SUPPORT VAIL FRIENDS OF DANCE PO BOX 212 VAIL CO 81658 841041249 501(C)(3) 8000 SUPPORT DANCE & BALLET PROGRAMS SMALL CHAMPIONS OF EAGLE COUNTY PO BOX 4691 VAIL CO 81658 841346280 501(C)(3) 6500 GENERAL SUPPORT BRAVO VAIL 2271 N FRONTAGE RD W UNIT C VAIL CO 81657 841074065 501(C)(3) 25000 GENERAL SUPPORT SKI & SNOWBOARD CLUB VAIL 598 VAIL VALLEY DR VAIL CO 81657 846038792 501(C)(3) 30000 GENERAL SUPPORT ROCKY MOUNTAIN MUSIC CENTER 3970 BROADWAY ST STE 201E BOULDER CO 80304 846035931 501(C)(3) 6585 TUITION SUPPORT FOR STUDENTS 8 0 PART I, LINE 2: THE FOUNDATION DOES DUE DILIGENCE ON ALL GRANT FUNDING TO PUBLIC CHARITIES IN THE VAIL VALLEY AREA. IN ADDITION, GRANTS ISSUED FROM DONOR ADVISED FUNDS ARE APPROVED BY A GRANT SUBCOMMITTEE. BASED ON THE EXTENSIVE RELATIONSHIPS THE FOUNDATION HOLDS WITH BUSINESSES AND THE COMMUNITY, THE FOUNDATION DEEMS TO HAVE ADEQUATELY FULFILLED THE MONITORING PROCEDURES FOR GRANTEES. X X 0 0 0 1 0 0 0 1 0 MICHAEL IMHOF PRESIDENT/CHIEF EXECUTIVE OFFICER 258229 0 44667 0 0 0 0 0 16224 0 319120 0 0 0 ROBERT J FORD CHIEF FINANCIAL OFFICER 179085 0 17000 0 0 0 8156 0 20876 0 225117 0 0 0 DAVID DRESSMAN VP OF SALES 92414 0 101525 0 0 0 6553 0 15328 0 215820 0 0 0 DUNCAN HORNER EXECUTIVE DIRECTOR OF VPAC 174238 0 16000 0 0 0 7818 0 15722 0 213778 0 0 0 MELISA REWOLD-THUON VP OF EDUCATION 148854 0 15000 0 0 0 6762 0 15726 0 186342 0 0 0 PART I, LINE 5 COMMISSIONS ARE PAID TO THE DIRECTOR OF SALES BASED ON PROCUREMENT OF SPONSORSHIPS FOR VARIOUS EVENTS HELD BY THE ORGANIZATION. THE LEVEL OF COMMISSION IS BASED ON THE TYPE OF SPONSORSHIP, 10% OF THE AMOUNT FOR NEW SPONSORSHIPS AND 5% FOR RENEWAL OF SPONSORSHIPS. PART I, LINE 7 THE ORGANIZATION'S COMPENSATION COMMITTEE ANNUALLY REVIEWS THE PERFORMANCES OF THE EXECUTIVE STAFF AND OTHER STAFF AS IDENTIFIED BY THE COMMITTEE TO DETERMINE IF ADDITIONAL COMPENSATION IN THE FORM OF BONUSES IS AVAILABLE AND WILL BE PAID. DURING CALENDAR YEAR ENDING DECEMBER 31, 2017, THE COMPENSATION COMMITTEE AWARDED THE CURRENT CEO/PRESIDENT, CFO, VP OF EDUCATION, VP OF SALES, FORMER VP OF DEVELOPMENT, EXECUTIVE DIRECTOR OF VPAC, DIRECTOR OF SALES, AND THE IT DIRECTOR A BONUS BASED ON REVIEW OF THEIR PERFORMANCES AND SERVICES TO THE ORGANIZATION. A COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY 840896727 2013-01-17 5770000 REFINANCE EXISTING LOANS. 0 0 0 A 710000 5570000 74803 5495197 2013 1 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 1 1 1 MORGAN STANLEY CAPITAL SERVICES 30.000000000000 0 0 0 0 0 A 0 X APPAREL, MISC. GIFTS, TRANSPORTAION 97 1406417 COST OR SELLING PRIC 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 VAIL VALLEY FOUNDATION IS MANAGED BY AN EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE INCLUDES THE CHAIRMAN OF THE BOARD, THE PRESIDENT/CEO, AND TEN ADDITIONAL BOARD MEMBERS APPOINTED BY THE BOARD OF DIRECTORS. EXCEPT AS OTHERWISE PROVIDED BY LAW, THE ARTICLES AND BYLAWS OF THE VAIL VALLEY FOUNDATION, THE EXECUTIVE COMMITTEE SHALL BE VESTED WITH THE POWERS OF THE BOARD OF DIRECTORS IN THE INTERIM BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE FORM 990 IS REVIEWED BY THE AUDIT/FINANCE COMMITTEE CHAIR AND THE CHIEF FINANCIAL OFFICER BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY COVERS ALL OFFICERS, DIRECTORS, AND OTHER TOP MANAGEMENT OFFICIALS. THE EXISTENCE OF ANY POTENTIAL CONFLICT OF INTEREST SHALL BE DISCLOSED TO THE CFO AND/OR BOARD OF DIRECTORS, WHO SHALL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IN THE EVENT A CONFLICT OF INTEREST DOES EXISTS, THE CFO AND/OR BOARD OF DIRECTORS WILL DETERMINE WHETHER OR NOT THE INDIVIDUALS WITH THE CONFLICT SHOULD BE RECUSED FROM THE DELIBERATION ON THE MATTER AND WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR AND REASONABLE TO THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR TOP MANAGEMENT OFFICIALS, KEY EMPLOYEES, AND OTHER OFFICERS IS REVIEWED BY THE COMPENSATION COMMITTEE, WHICH IS MADE UP OF BOARD MEMBERS, ON AN ANNUAL BASIS. THE COMMITTEE MEETS AT THE END OF THE YEAR TO DETERMINE COMPENSATION ADJUSTMENTS. PRIOR TO MEETING, THE CFO PROVIDES THE COMMITTEE WITH A PACKAGE SUMMARIZING COMPENSATION INFORMATION. AT THE MEETING THE COMPENSATION COMMITTEE REVIEWS, MODIFIES AND/OR APPROVES THE COMPENSATION PACKAGE AS WELL AS COMPARES COMPENSATION LEVELS OF THE ABOVE MENTIONED POSITIONS TO THAT OF SIMILAR POSITIONS IN OTHER ORGANIZATIONS COMPARABLE TO VAIL VALLEY FOUNDATION IN THEIR DETERMINATION TO APPROVE ANY COMPENSATION ADJUSTMENTS FOR THE CEO, KEY EMPLOYEES, AND OTHER OFFICERS FOR THE UPCOMING YEAR. ONCE THE COMPENSATION COMMITTEE HAS APPROVED ALL COMPENSATION FOR THE UPCOMING PERIOD, THEIR RECOMMENDATION IS THEN PRESENTED TO THE EXECUTIVE COMMITTEE FOR RATIFICATION. FORM 990, PART VI, SECTION C, LINE 19 VAIL VALLEY FOUNDATION MAKES IT GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF INTEREST RATE SWAP 339,833. TRANSFER OF LAND TO RELATED ORGANIZATION -726,301. VILAR CENTER FOR THE ARTS FOUNDATION PO BOX 3822 AVON CO 81620 841316133 PROMOTE AN APPRECIATION OF THE ARTS CO 501(C)(3) LINE 7 VAIL VALLEY FOUNDATION 1 YOUTHPOWER365 PO BOX 6550 AVON CO 81620 841442909 PREPARE CHILDREN IN NEED FOR SUCCESS IN LIFE THROUGH EDUCATION CO 501(C)(3) LINE 7 VAIL VALLEY FOUNDATION 1 0 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 1 0 YOUTHPOWER365 B 779500 COST YOUTHPOWER365 R 325000 COST VILAR CENTER FOR THE ARTS FOUNDATION R 726301 COST