2017-06-14T00:15:47-05:00 2016-07-31 861065772 Deloitte Tax LLP 555 Mission Street San Francisco CA 94105 990 2015-08-01 956052058 NATIONAL ACADEMY OF RECORDING Arts & Sciences Inc NATI 3103923777 3030 Olympic Boulevard Santa Monica CA 904045073 NEIL PORTNOW President/CEO 3103923777 2017-06-08 1 Joan S McMahon P00966494 4157834000 2015 2021-01-29 14:40:06Z The Recording Academy Neil Portnow 3030 Olympic Boulevard Santa Monica CA 904045073 94986076 0 X www.grammy.com,www.grammy.org & www.grammypro.com X 1987 DE Our mission is to advance the arts and sciences of recording and to foster creative leadership for artistic, cultural, educational, and technical progress in the recording field. A primary activity of The Recording Academy is the recognition of outstanding creative and technical achievements in the recording arts of those deemed to be most worthy by their peers through the annual presentation of the GRAMMY Awards. 44 44 181 500 62009 0 1670807 1713017 75516291 71610947 3154648 3741783 2661442 1499140 83003188 78564887 6352133 6206443 0 0 19100051 21384629 0 0 0 48726959 46714049 74179143 74305121 8824045 4259766 124292716 130328763 21546362 26583658 102746354 103745105 X Our mission is to advance the arts and sciences of recording and to foster creative leadership for artistic, cultural, educational, and technical progress in the recording field. A primary activity of The Recording Academy is the recognition of outstanding creative and technical achievements in the recording arts of those deemed to be most worthy by their peers through the annual presentation of the GRAMMY Awards. 0 0 The Recording Academy produces the GRAMMY awards, the only peer- presented award to honor artistic achievement, technical proficiency and excellence in the recording industry, without regard to album sales or chart position. 0 0 0 1 0 0 0 0 1 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 X 242 0 1 181 1 1 1 1 UK 0 0 1 1 0 X 44 44 1 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 CA IL NY X Wayne J Zahner 3103923777 3030 Olympic Boulevard Santa Monica CA 904045073 John Poppo National Chair 5.00 X 0 0 0 Ruby Marchand Vice Chair 1.00 X 0 0 0 Eric Schilling Secretary/Treasurer 1.00 X 0 0 0 George Flanigen IV Chair Emeritus 1.00 X 0 0 0 Ann Mincieli Trustee 1.00 X 0 0 0 Beth Cohen Trustee 1.00 X 0 0 0 Brandon Bush Trustee 1.00 X 0 0 0 BRETT JAMES FROM 6116 Trustee 1.00 X 0 0 0 CARLOS ALVAREZ FROM 6116 Trustee 1.00 X 0 0 0 Chandra LaPlume To 53116 Trustee 1.00 X 0 0 0 Cheryl Pawelski Trustee 1.00 X 0 0 0 Chris Walden To 53116 Trustee 1.00 X 0 0 0 Claudia CLAUDIA Brant MENKARSKI Trustee 1.00 X 0 0 0 Dan Warner Trustee 1.00 X 0 0 0 Daniel Hill To 53116 Trustee 1.00 X 0 0 0 David Ivory To 53116 Trustee 1.00 X 0 0 0 ED CHERNEY FROM 6116 Trustee 1.00 X 0 0 0 Eric Jarvis To 53116 Trustee 1.00 X 0 0 0 Fletcher Foster Trustee 1.00 X 0 0 0 Gilbert Velasquez Trustee 1.00 X 0 0 0 Gino Robair Trustee 1.00 X 0 0 0 Glenn Lorbecki Trustee 1.00 X 0 0 0 GREGORY CHIN Trustee 1.00 X 0 0 0 Harvey Mason Jr To 53116 Trustee 1.00 X 0 0 0 Helen Bruner Trustee 1.00 X 0 0 0 IVAN BARIAS FROM 6116 Trustee 1.00 X 0 0 0 JAMES MCKINNEY FROM 6116 Trustee 1.00 X 0 0 0 Jeff Balding Trustee 1.00 X 0 0 0 Jeff Levenson Trustee 1.00 X 0 0 0 Jennifer Blakeman To 53116 Trustee 1.00 X 0 0 0 Karen Sherry Trustee 1.00 X 0 0 0 Ken Shepherd To 53116 Trustee 1.00 X 0 0 0 Kenneth Abdo To 53116 Trustee 1.00 X 0 0 0 KIM KEM OWENS FROM 6116 Trustee 1.00 X 0 0 0 Kurosh Nasseri To 53116 Trustee 1.00 X 0 0 0 Linda Lorence Critelli Trustee 1.00 X 0 0 0 MATT STILL FROM 6116 Trustee 1.00 X 0 0 0 MATTHEW HENNESSY Trustee 1.00 X 0 0 0 Maurette Brown Clark Trustee 1.00 X 0 0 0 Michael Romanowski Trustee 1.00 X 0 0 0 Mike Clink Trustee 1.00 X 0 0 0 MIKE KNOBLOCH FROM 6116 Trustee 1.00 X 0 0 0 Mindi Abair Trustee 1.00 X 0 0 0 Nick Phillips Trustee 1.00 X 0 0 0 Nile Rodgers Trustee 1.00 X 0 0 0 Patrick Stump Trustee 1.00 X 0 0 0 Paul Paul Wall Slayton Trustee 1.00 X 0 0 0 Peter Asher To 53116 Trustee 1.00 X 0 0 0 RICHARD STUMPF FROM 6116 Trustee 1.00 X 0 0 0 RODNEY JERKINS FROM 6116 Trustee 1.00 X 0 0 0 SCOTT BILLINGTON FROM 6116 Trustee 1.00 X 0 0 0 Susan Marshall Trustee 1.00 X 0 0 0 Tammy Hurt To 53116 Trustee 1.00 X 0 0 0 TERRY HEMMINGS FROM 6116 Trustee 1.00 X 0 0 0 TRACY GERSHON FROM 6116 Trustee 1.00 X 0 0 0 TYLER STONE FROM 6116 Trustee 1.00 X 0 0 0 William Gibson To 53116 Trustee 1.00 X 0 0 0 Neil Portnow President/CEO 40.00 1.20 X 1487012 0 121172 Wayne Zahner CHIEF FINANCIAL OFFICER 40.00 3.20 X 317403 0 36173 Branden Chapman Exec in Charge Prod/CBDO 40.00 1.20 X 307341 0 44615 Evan Green Chief marketing Officer 40.00 X 463567 0 55000 Nancy Shapiro SVP Sp. Proj./Former SVP Member Svcs 40.00 X 315576 0 49787 William Freimuth SVP Awards 40.00 X 294543 0 44959 Daryl Friedman CHIEF INDUSTRY, GOVT & MEMBER RELATIONS OFCR 40.00 X 392274 0 49067 Richard Engdahl Chief Information Officer 40.00 X 261466 0 32280 Gaetano Frizzi Chief Human RESOURCES Officer 40.00 X 252969 0 36200 CHARLOTTE WILLIAMS CONTROLLER/MD BUSINESS AFFAIRS 40.00 X 239636 0 32291 NEDA AZAFAR VP MARKETING COMMUNICATIONS 40.00 X 208595 0 19449 KEVIN COLLIGAN Managing Director, Digital Media 40.00 X 179680 0 44839 4720062 0 565832 12 0 1 0 AEG EHRLICH VENTURES LLC 4355 LANAI ROAD ENCINO CA 91436 Event Production 13920133 GREENBERG TRAURIG LLP 3333 PIEDMONT ROAD NORTHEAST SUITE ATLANTA GA 30305 Legal Services 1167029 PROSKAUER ROSE LLP 2049 CENTURY PARK EAST LOS ANGELES CA 90067 LEGAL SERVICES 829034 BOUNCE EVENT MARKETING INC 9696 CULVER BOULEVARD CULVER CITY CA 90232 Event Production 697535 TBWA CHIAT DAY 5353 GROSVENOR BOULEVARD LOS ANGELES CA 90066 ADVERTISING 691998 42 1713017 1713017 Telecast event Income 900099 50390859 50390859 Sponsorship Income 711130 10542759 36409 10506350 Grammy Ticket Sales 711130 10043131 10043131 PUBLICATION INCOME 711130 372472 346872 25600 NARAS Related Events 541800 261726 261726 71610947 3415949 3415949 1424653 1424653 571276 742694 -171418 -171418 -171418 16004329 15678495 325834 325834 325834 Film Clip Income 900099 151004 151004 Other Income 900099 85310 85310 Annuity Income 900099 9591 9591 245905 78564887 10737039 62009 66052822 6186443 20000 3924848 13431230 915622 1973119 1139810 2169229 389970 151100 485983 4738527 2608530 1710351 1845185 4239314 2661789 1080775 643918 365234 Event Production 16383468 Event Expenses 6450310 Entertainment 661090 129276 74305121 67484 1805 43029687 10059922 2767002 5534986 1658371 4043665 9141603 6027119 3656154 3114484 57891733 65009235 11274 29916806 15211011 12647860 124292716 130328763 3526804 4736945 17693921 21418555 325637 428158 21546362 26583658 X 102746354 103745105 102746354 103745105 124292716 130328763 4259766 -3261014 0 X X 0 1 X 1 0 0 0 0 1713017 566265 566265 685207 -118942 57891733 7186805 416680 485983 65009235 51670203 5972154 706545 457169 57891733 38275062 9000342 4691434 296635 51670203 26893851 7500065 4098567 217421 38275062 14391088 12084226 418537 26893851 1.00000 1 0 5073249 2366327 2706922 4047348 3639786 407562 21006 21006 0 3114484 Other Securities 29916806 C 29916806 Due from NARAS Properties, Inc. 10396207 Due from Latin Academy of Recording Arts & Sciences, Inc. 1121509 Royalty Receivable due from Latin Academy of Recording Arts & Sciences, Inc. 353323 Due from THE NARAS FOUNDATION 255454 Due from MusiCares Foundation, Inc. 223379 Other Retirement Liability - 457 (b) 187523 Barter Inventory 55270 Due from the Latin GRAMMY Cultural Foundation 48992 DUE FROM GRAMMY MUSEUM FOUNDATION, INC. 5681 Movie tickets 1108 OTHER ASSET -586 12647860 Other Retirement Liability - 457(b) 187524 Non Qualified Pension Liability 240634 428158 X Part V, Line 4: THE INTENDED PURPOSE OF THE ENDOWMENT FUND IS TO USE ITS INVESTMENT INCOME TOWARDS OPERATIONS IN PROMOTION OF THE MISSION AND GROWTH OF THE RECORDING ACADEMY AS WELL AS PROVIDE OPERATIONAL SUPPORT IN CASE OF A CATASTROPHIC EVENT. Part X, Line 2: The Recording Academy accounts for income taxes in accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 740, Income Taxes. FASB ASC 740 prescribes a comprehensive model for how a company should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the company has taken, or expects to take, on a tax return. During the years ended July 31, 2016 and 2015, The Recording Academy did not have any liability for unrecognized tax benefits. United Kingdom 0 1 Program Services PRODUCTION OF A TELECAST CELEBRATING MUSIC 24290 0 1 0 0 0 1 24290 0 24290 0 0 0 0 0 0 1 GRAMMY Museum Foundation Inc 800 West Olympic BOUlEvARd A245 Los Angeles CA 90015 261447714 501(c)(3) 273676 248800 FMV Printed Advertising and GRAMMY Tickets General support THE NARAS FOUNDATION 3030 Olympic BOUlEvARd Santa Monica CA 90404 953199223 501(c)(3) 2156888 227806 FMV GRAMMY & Other Event Tickets, Rent Contributions and Program Service Support MusiCares Foundation Inc 3030 Olympic BOUlEvARd Santa Monica CA 90404 954470909 501(c)(3) 2836053 259622 FMV GRAMMY & Other Event Tickets, Rent Contributions and Program Service Support Latin GRAMMY Cultural Foundation 3470 NW 82nd AveNUE Suite 700 Miami FL 33122 464770436 501(c)(3) 50000 FMV General support City of Hope 1055 Wilshire BOUlEvARd Los Angeles CA 90017 953435919 501(c)(3) 8500 FMV General support Songwriters Hall of Fame 330 W 58th Street 411 New York NY 100191827 237051690 501(c)(3) 12640 FMV General Support T J Martell Foundation 729 7th Avenue 16th Fl New York NY 10019 510180178 501(c)(3) 7250 FMV General support Georgia Music Partners 2451 Cumberland Parkway Suite 3452 Atlanta GA 30339 272990842 501(c)(6) 10000 FMV General Support THE CLARA LIONEL FOUNDATION 11601 WILSHIRE BOULEVARD 1840 LOS Angeles CA 90025 455620521 501(c)(3) 5000 FMV GENERAL SUPPORT 8 1 scholarships 16 20000 CASH VALUE Part I, Line 2: Chapters of The Recording Academy make donations to various charitable organizations in their respective communities. The chapters, either through their local charitable giving committee or local executive committee, put forth a proposal for the local chapter board to approve donations of their special project funds to be used for this purpose. These funds are the accumulation of funds based on events held at the local level. These chapter-approved disbursements are then sent to the national Finance SubCommittee for final approval. A presentation is made disclosing information about the beneficiary, its tax-exempt status, the nature of the use of the funds and other pertinent information. The national headquarters of The Recording Academy sponsors various charities, in the communities it serves, through purchases of tables at events and/or advertisements in program books and from time-to-time minimal cash donations. The Recording Academy provides assistance to its affiliated entities: MusiCares Foundation, Inc., THE NARAS FOUNDATION, GRAMMY Museum Foundation, Inc., and Latin GRAMMY Cultural Foundation. X 1 1 X X X X X X 0 1 0 Neil Portnow President/CEO 1014054 0 425000 0 47958 0 107355 0 13817 0 1608184 0 0 0 Wayne Zahner CHIEF FINANCIAL OFFICER 311843 0 1750 0 3810 0 22000 0 14173 0 353576 0 0 0 Branden Chapman Exec in Charge Prod/CBDO 302051 0 1750 0 3540 0 22000 0 22615 0 351956 0 0 0 Evan Green Chief marketing Officer 300409 0 159348 0 3810 0 22000 0 33000 0 518567 0 0 0 Nancy Shapiro SVP Sp. Proj./Former SVP Member Svcs 303668 0 1750 0 10158 0 27600 0 22187 0 365363 0 0 0 William Freimuth SVP Awards 287051 0 1750 0 5742 0 22400 0 22559 0 339502 0 0 0 Daryl Friedman CHIEF INDUSTRY, GOVT & MEMBER RELATI 384782 0 1750 0 5742 0 26300 0 22767 0 441341 0 0 0 Richard Engdahl Chief Information Officer 254394 0 1750 0 5322 0 20871 0 11409 0 293746 0 0 0 Gaetano Frizzi Chief Human RESOURCES Officer 245509 0 1750 0 5710 0 23654 0 12546 0 289169 0 0 0 CHARLOTTE WILLIAMS CONTROLLER/MD BUSINESS AFFAIRS 166733 0 71500 0 1403 0 20202 0 12089 0 271927 0 0 0 NEDA AZAFAR VP MARKETING COMMUNICATIONS 203500 0 1750 0 3345 0 10575 0 8874 0 228044 0 0 0 KEVIN COLLIGAN Managing Director, Digital Media 176612 0 1000 0 2068 0 14423 0 30416 0 224519 0 0 0 Part I, Line 1a The Recording Academy has a written policy regarding the circumstances in which first class travel may be used. The organization makes it a practice to routinely use coach or business class airline travel. Additionally, The Recording Academy receives, as part of its sponsorship income, a funded account that may be spent on coach, business and first class airline travel ("barter tickets"). The Recording Academy has a policy to utilize barter tickets first except when travel time, due to layovers, is a burden or if barter tickets do not provide an available flight option that is compatible with the traveler's schedule. The President/CEO and elected officers are permitted to fly first class either using barter tickets or not, although they are encouraged to fly business class, if available, prior to booking in first class. Further, these individuals are also encouraged to use coach class travel for very short trips. Other members of senior management (Vice President and above) are only allowed to fly business or first class if the flight is over two hours in duration. In these cases, barter tickets are the first option unless the itinerary is not compatible with the traveler's schedule. For international travel, the first choice is business class and the second choice is first class for all members of senior management including the President/CEO and elected officers. Part I, Line 4b A non-qualified deferred compensation plan was established effective August 1, 2013. Mr. Portnow accrued $82,355 through July 31, 2016 under the plan, which is subject to a substantial risk of forfeiture. Form 990, Part V, Line 6b: The organization does not solicit contributions from the general public, however, they do accept sponsorship income from corporate donors as part of their events. Form 990, Part VI, Section A, line 1 The Executive Committee is comprised of the Chair of the Board of Trustees, Vice Chair of the Board of Trustees, Secretary/Treasurer of the Board of Trustees, Chair Emeritus of the Board of Trustees and four (4) sitting Trustees selected by the Chair of the Board of Trustees in consultation with the President/Chief Executive Officer and ratified by the Board of Trustees. They are granted unilateral rights to conduct business on behalf of the Board of Trustees. Any such action shall be communicated to the entire Board as promptly as the Executive Committee deems reasonably practicable. Such actions shall not include: (a)Altering major legal documents such as, but not limited to, the Certificate of Incorporation, Bylaws, or Governance Manual; (b)Authorizing mergers (other than a merger of any wholly-owned subsidiary with The Recording Academy), acquisitions, joint ventures, consolidations or dissolutions; or approving the sale, lease, exchange or encumbrance of any material asset of The Recording Academy that is not in the ordinary course of business of The Recording Academy; (c)Forming or dissolving standing and Trustee-only committees of the Board, or amending the charter of any committee; (d)Taking any actions that have been expressly, by charter or resolutions, delegated to any other Trustee-only committee; and (e)Amending or repealing any resolution of the Board. Form 990, Part VI, Section A, line 2 The following people had business relationships: Branden Bush and Tammy Hurt Beth Cohen and Dan Warner Dan Warner and Eric Schilling Fletcher Foster and Chandra LaPlume Mindi Abair and Mike Clink Cheryl Pawelski and Scott Bomar Branden Bush and Eric Jarvis Dan Warner and Claudia Brant Patrick Stump and Mindi Abair Greg Chin and Glenn Lorbecki Gilbert Velasquez and Paul Wall Michael Romanowski and Jennifer Blakeman John Burk and Mindi Abair, Nick Phillips, Ken Shepherd, Harvey Mason Jr, Peter Asher, and Chris Walden Neil Portnow, President/CEO of The Recording Academy serves as Chair of the Board of The GRAMMY Museum. Wayne Zahner, Chief Financial Officer, and Branden Chapman, Executive in Charge of Production and Chief Business Development Officer, both of The Recording Academy serve as Directors on the Board of The GRAMMY Museum. Form 990, Part VI, Section A, line 6 There are three categories of members of The Recording Academy: (a) Voting Members; (b) Associate members; and (c) Student Members. Each Membership Class has its own rights and established criteria for participation as set forth by the organization's Bylaws. Form 990, Part VI, Section A, line 7a The Voting Members from each Chapter shall constitute a separate Membership Class (the "Chapter Voting Member Membership Class") at the time and, as such, shall elect the Voting Member Governors from such Chapter by a Plurality Vote of qualified returned ballots equal to not less than ten percent of the total number of Members of such Membership Class. The Voting Members and Associate Members from each Chapter at the time shall constitute a separate Membership Class (the "Chapter Voting Member and Associate Member Membership Class") and, as such, shall elect the Associate Member Governors from such Chapter by a Plurality Vote of qualified return ballots equal to not less than ten percent of the total number of Members of such Membership Class. Voting Member Governors and Associate Member Governors from each Chapter: The Members from each Chapter who at the time are Voting Member Governors and Associate Member Governors shall constitute a separate Membership Class (the "Chapter Governor Membership Class"). The Chapter Governor Membership Class shall elect (a) the Trustees from such Chapter by a Plurality Vote of a Majority of the Membership Class eligible to vote and (b) the Chapter Officers of such Chapter by a Plurality Vote of a Majority of the Membership Class eligible to vote, and shall have the power to remove such persons from office. Trustees: The Members who at the time are Trustees shall constitute a separate Membership Class (the "Trustee Membership Class"). During the period a person is in office as a Trustee Officer, such person will also be a Trustee. The Trustee Membership Class shall (a) elect the Trustee Officers by a Majority Vote of a Simple Quorum; (b) have the power, by a Supermajority Vote of a Supermajority Quorum, (i) to remove any Trustee from office (ii) to remove any Trustee Officer from office and (iii) to remove any Governor from office; (c) have the power to ratify the committee nominations; and (d) have the power to approve, adopt, vote on, consent with respect to, or ratify such matters or actions that the Chair or the Executive Committee decides to submit to the Trustee Membership Class for such action. Voting Member Governors and Associate Member Governors from all Chapters: The Members from all Chapters who at the time are Voting Member Governors and Associate Member Governors shall constitute a separate Membership Class (the "Governor Membership Class"). The Governor Membership Class shall have the right to vote on any Major Matter, and approval will require a Supermajority Vote of a Supermajority Quorum. Form 990, Part VI, Section B, line 11 Form 990 is prepared by Deloitte Tax, LLP, working in conjunction with the organization's finance department. The draft of the Form 990 is reviewed by the organization's management. The initial draft of the Form 990 is then provided to The Recording Academy's Audit/Finance committee for their review. Any comments resulting from their review are incorporated into the final filing of the Form 990. The Audit/Finance committee has been authorized by the Board of Trustees to review the tax filings and approve them to be filed. Form 990, Part VI, Section B, line 12c The Corporate Secretary distributes the Statement of Conflict of Interest Policy at a Trustees Meeting. The statements are collected by the Corporate Secretary and then a summary report is given to the Chair of the Board of Trustees and the President/Chief Executive Officer. Accordingly, the Chair of the Board of Trustees as well as the President/Chief Executive Officer are responsible for both monitoring and enforcing the conflict of interest policy based on the statements that are provided. Form 990, Part VI, Section B, line 15a The President/CEO compensation was determined by the Executive Committee of the Board of Trustees, functioning as a Compensation Committee for this purpose. The decision was then ratified by the Board of Trustees. The Committee relied upon the advice and expertise of legal counsel, an independent outside compensation consultant and comparability data in determining the compensation. The meeting in which those deliberations were conducted was contemporaneously documented. FOrm 990, Part VI, Section B, line 15(b) Compensation for other employees of National Academy of Recording Arts & Sciences, Inc. is set by the President/Chief Executive Officer, Chief Financial Officer and Chief Human Resources Officer. Compensation is determined by the review of the compensation of other employees at similar levels. Information from outside organizations is gathered by the Chief Human Resources Officer and by a general knowledge of what is expected for the position by these three individuals. During the year ended 7/31/2015, an independent compensation study was completed and considered in determining compensation for the year. As it relates to annual increases, the Chief Human Resources Officer and the Chief Financial Officer have discussed benchmarking with human resources management and the chief financial officer of similar organizations. Agreement is obtained between these three individuals (CEO, CFO, Chief Human Resources Officer) as to the value of services provided. Form 990, Part VI, Section C, line 19 The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public. FORM 990, PART XII, LINE 2A & 2B The organization's financial statements were audited as part of the combined financial statements that included NARAS Properties, Inc. and TRA European Enterprises Limited, related tax-exempt organizations. Form 990, Part VIII and IX: During the tax year, The Recording Academy received donated services in the form of printed advertisements. Revenue from these donated services is included in Sponsorship Income on Form 990, Part VIII, Line 2b. Expenses incurred associated with the donated services are included on Form 990, Part IX, Line 12. In addition, the fair market value of the portion of the donated services that were contributed to other organizations is included in Form 990, Part IX, Line 1 and Schedule R if the organization was also a related organization. TANGIBLE PROPERTY REGULATION ELECTIONS Section 1.263(a)-1(f) De Minimis Safe Harbor Election Taxpayer is making the de minimis safe harbor election under Treas. Reg. 1.263(a)-1(f) for all eligible amounts paid or incurred during the taxable year. Section 1.263(a)-3(n) Capitalization Election Taxpayer hereby elects to capitalize repair and maintenance costs under Treas. Reg. 1.263(a)-3(n). The costs were incurred during the taxable year in the electing taxpayer's trade or business and the electing taxpayer treats such costs as capital expenditures on its books and records. TRA European Enterprises Limited 3030 Olympic Blvd Santa Monica CA 90404 981153826 Celebrates Music UK 56 0 NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES INC NARAS Properties Inc 3030 Olympic Blvd Santa Monica CA 904045073 954516666 Hold title to real property CA 501(c)(2) NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES INC 1 GRAMMY Museum Foundation Inc 800 W Olympic Blvd Ste A245 Los Angeles CA 90015 261447714 Explores and celebrates all forms of music CA 501(c)(3) 7 National Academy of Recording Arts & Sciences Inc 1 0 1 1 0 0 0 1 0 0 0 1 0 0 0 1 0 0 0 1 NARAS Properties Inc K 2917076 fmv NARAS Properties Inc O 65432 cash value NARAS Properties Inc S 3179152 cash value GRAMMY MUSEUM FOUNDATION INC B 482800 FMV GRAMMY MUSEUM FOUNDATION INC G 233000 GRAMMY TICKETS AT FACE VALUE SCHEDULE R, PART V: NARAS PROPERTIES, INC. A RELATED SECTION 501(C)(2) TAX-EXEMPT ORGANIZATION CONTROLLED BY THE RECORDING ACADEMY, OWNS THE CORPORATE HEADQUARTERS IN SANTA MONICA, CALIFORNIA USED BY THE RECORDING ACADEMY AND ITS AFFILIATED TAX-EXEMPT ORGANIZATIONS. THE RECORDING ACADEMY PAID RENT FOR ITS USE OF THE CORPORATE HEADQUARTERS. THE VALUE OF THE RENT WAS DETERMINED BASED ON COMPARABLES OF SIMILAR PROPERTIES. NARAS PROPERTIES, INC. ALSO OWNS AN OFFICE BUILDING IN NASHVILLE, TENNESSEE USED BY THE NASHVILLE CHAPTER OF THE RECORDING ACADEMY ANd musicares, one of its AFFILIATED TAX-EXEMPT ORGANIZATIONS. THE RECORDING ACADEMY PAID RENT FOR ITS USE OF THE PROPERTY. THE VALUE OF THE RENT WAS DETERMINED BASED ON COMPARABLES OF SIMILAR PROPERTIES. VALUE OF DONATED ADVERTISING IS BASED ON RATE CARD FROM THE PUBLICATION.