2016-11-14T11:19:58-06:00 2015-12-31 131655065 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2015-01-01 311734086 FRIENDS OF THE HIGH LINE INC FRIE 2122069922 820 WASHINGTON STREET NEW YORK NY 100141406 ROBERT HAMMOND EXECUTIVE DIRECTOR 2122069922 2016-11-11 1 FREDERICK MARTENS P00298107 2126972299 2015 2017-02-10 21:41:12Z ROBERT HAMMOND 820 WASHINGTON STREET NEW YORK NY 100141406 38969111 0 X WWW.THEHIGHLINE.ORG X 2000 NY FRIENDS OF THE HIGH LINE IS A NON-PROFIT PARK CONSERVANCY RESPONSIBLE FOR MAINTAINING AND OPERATING AN EXTRAORDINARY PUBLIC SPACE ON THE HIGH LINE. THE HIGH LINE IS A 1.45-MILE ELEVATED FREIGHT RAIL LINE TRANSFORMED INTO A PUBLIC PARK ON MANHATTAN'S WEST SIDE. 40 38 208 214 109827 1244 16812986 18102479 376467 415600 1026545 977598 748935 2341758 18964933 21837435 0 0 0 0 7986700 8568429 251185 309685 3024126 7534825 5601737 15772710 14479851 3192223 7357584 88818937 98388383 1375867 1460591 87443070 96927792 X FRIENDS OF THE HIGH LINE WORKS TO BUILD AND MAINTAIN AN EXTRAORDINARY PUBLIC SPACE ON THE HIGH LINE. WE SEEK TO PROTECT THE ENTIRE HISTORIC STRUCTURE, TRANSFORMING AN ESSENTIAL PIECE OF NEW YORK'S INDUSTRIAL PAST AND INSPIRING NEW WAYS OF THINKING ABOUT THE CITY, PARKS, PUBLIC SPACE, PRESERVATION, AND COMMUNITY. WE PROVIDE VIRTUALLY ALL OF THE HIGH LINE'S ANNUAL OPERATING BUDGET AND ARE RESPONSIBLE FOR THE MAINTENANCE OF THE PARK, PURSUANT TO A LICENSE AGREEMENT WITH THE NEW YORK CITY DEPARTMENT OF PARKS & RECREATION. THROUGH EXCELLENCE IN OPERATIONS, STEWARDSHIP, INNOVATIVE PROGRAMMING, AND WORLD-CLASS DESIGN, WE SEEK TO ENGAGE THE VIBRANT AND DIVERSE COMMUNITY ON AND AROUND THE HIGH LINE. 0 0 3535511 HIGH LINE OPERATIONS:IN 2015, FRIENDS OF THE HIGH LINE (FHL) SUCCESSFULLY OPERATED AND MAINTAINED SECTIONS 1, 2, AND 3 OF THE PARK, FROM GANSEVOORT STREET TO WEST 34TH STREET. VISITATION WAS APPROXIMATELY 7.6 MILLION PEOPLE. IN ORDER TO APPROPRIATELY MANAGE THE GARDENS, THE HORTICULTURE TEAM PLANTED 5,500 PERENNIALS AND GRASSES, 4,400 BULBS, AND 54 TREES AND SHRUBS. THE FACILITIES PLANNING & MANAGEMENT TEAM MANAGED AND MAINTAINED THE PHYSICAL PLANT OF THE PARK, INCLUDING THE HIGH LINE HEADQUARTERS (HLHQ) AT 820 WASHINGTON STREET, WITH A COMBINED 20,000 S.F. OF SPACE FOR OPERATIONS AND ADMINISTRATIVE STAFF. THE CUSTODIAL SERVICES TEAM REMOVED APPROXIMATELY 237 TONS OF TRASH AND APPROXIMATELY 175 TONS OF RECYCLED WASTE. EIGHT TONS OF COMPOST WERE COLLECTED FROM FOOD VENDORS AND PUBLIC COMPOST CANS DURING THE SPRING-SUMMER SEASONS (SIX-MONTH PERIOD). NEW STAFF POSITIONS WERE ADDED TO THE FACILITIES, HORTICULTURE, AND PARK SERVICES TEAMS. REGULAR FACILITIES, MAINTENANCE, AND CUSTODIAL ACTIVITIES INCREASED IN DIRECT PROPORTION TO THE INCREASE IN VISITORS. OPERATIONS CONTINUED TO FOCUS ON MAINTENANCE, CLEANLINESS AND SAFETY OF THE 1.45 MILE PARK TO ENHANCE THE VISITOR EXPERIENCE. 2339142 138238 ART, PROGRAMMING AND EDUCATION:IN 2015, FHL REALIZED MORE THAN 37 ART PROJECTS, INCLUDING 7 VIDEO PROGRAMS, 3 ART PERFORMANCES, AND 14 MAJOR COMMISSIONS. FURTHERMORE, FHL SOLIDIFIED PARTNERSHIPS WITH OTHER NEW YORK CITY ARTS NON-PROFITS, INCLUDING CO-PRODUCING AN EVENT ON THE HIGH LINE WITH CREATIVE TIME. FHL CONTINUED TO IMPROVE MEDIA OUTREACH, SECURING MAJOR PRESS COVERAGE AND CREATING A STRONG IDENTITY IN SOCIAL MEDIA.FHL WELCOMED OVER 40,000 VISITORS TO OVER 400 SCHEDULED PROGRAMS AND ACTIVITIES. PROGRAMS INCLUDED 149 GUIDED FIELD TRIPS SERVING 4,560 ADULTS AND CHILDREN, DROP-IN PROGRAMMING FOR FAMILIES, THREE TIMES A WEEK IN THE SUMMER MONTHS, SERVING OVER 7,950 KIDS AND CAREGIVERS, LECTURES, MUSICAL PERFORMANCES, AND TOURS. IN ADDITION, TEEN PROGRAMS PROVIDED EMPLOYMENT FOR 34 LOCAL TEENAGERS AND ENGAGED OVER 1,400 NEW YORK CITY YOUTH THROUGH TWO TEEN NIGHTS. FHL ALSO WORKED WITH 214 VOLUNTEERS WHO WORKED OVER 5,315 HOURS AS DOCENTS, GREETERS, HORTICULTURAL ASSISTANTS, PLAY PARTNERS, AND PHOTOGRAPHERS. 2024975 HIGH LINE PLANNING AND CONSTRUCTION:IN 2015, FHL CONTINUED TO WORK ON SEVERAL LARGE SCALE CAPITAL CONSTRUCTION PROJECTS, ADVANCED THE DESIGN PHASES FOR ADDITIONAL LARGE SCALE PROJECTS, MANAGED A VARIETY OF CAPITAL IMPROVEMENTS ON THE EXISTING HIGH LINE AND IMPLEMENTED ADVOCACY EFFORTS FOCUSING ON STRATEGIC URBAN PLANNING INITIATIVES.DESIGN ON PHASE II OF SECTION 3 PROGRESSED THROUGH THE SCHEMATIC DESIGN PHASE, WITH THE COMPLETION OF THE DESIGN PROCESS ESTIMATED TO BE LATE SUMMER OF 2016. THIS IS THE LAST PIECE OF THE HIGH LINE CURRENTLY NOT ACCESSIBLE TO THE PUBLIC.FHL ALSO ADVANCED THE CONCEPT DESIGN FOR THE 18TH STREET PLAZA, THE FIRST AT-GRADE PARK SPACE CONNECTED TO THE HIGH LINE. THIS WORK WILL CONTINUE IN 2016 AND 2017.FHL STARTED AND COMPLETED MANY SMALLER BUT SIGNIFICANT CAPITAL PROJECTS TO BOTH THE HIGH LINE AND HLHQ BUILDING. SIGNIFICANT PROJECTS INCLUDED AN ELECTRICAL RETROFIT OF THE CHELSEA MARKET PASSAGE TO SUPPORT PUBLIC PROGRAMMING AND EVENTS AND THE ADDITION OF MECHANICAL SUPPORT SPACES FOR THE CONCESSION VENDORS ON THE HIGH LINE. FHL ALSO OVERSAW STRUCTURAL MODIFICATIONS AND REPAINTING OF SEVERAL HIGH LINE STAIRS. HLHQ WORK WAS PRIMARILY FOCUSED ON HVAC AND PLUMBING SYSTEMS.FHL HAS CONTINUED TO ADVOCATE FOR THE PARK THROUGH A VARIETY OF ANALYSES, THE MOST SIGNIFICANT OF WHICH IS A STUDY THAT PREDICTS FUTURE VISITATION AND HOW THAT VISITATION WILL AFFECT OPERATIONS, THE PHYSICAL STRUCTURE OF THE HIGH LINE, AND THE OVERALL VISITOR EXPERIENCE. 1786338 1020412 COMMUNICATIONS, EXPENSES: 740,430, REVENUE: -0-RETAIL, VENUE RENTALS AND CONCESSIONS, EXPENSES: 1,045,908, REVENUE: 1,020,412 1786338 1020412 9685966 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 0 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 122 0 208 1 1 1 0 0 0 0 1 1 0 0 0 0 X 40 38 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY CT NJ X MARK QUINN VICE PRESIDENT OF FINANCE 2122069922 820 WASHINGTON STREET NEW YORK NY 100141406 ROBERT HAMMOND CO-FOUNDER & EXECUTIVE DIRECTOR 40.00 X X 396238 0 105656 JOSHUA DAVID CO-FOUNDER & PRESIDENT 40.00 X X 292846 0 6303 CATHERINE C MARRON CHAIR 5.00 X X 0 0 0 MARIO J PALUMBO JR CO-CHAIR 3.00 X X 0 0 0 SUSAN VINIAR VICE CHAIR 3.00 X X 0 0 0 JASON STEWART TREASURER 3.00 X X 0 0 0 PETER S WILSON SECRETARY 3.00 X X 0 0 0 PHILIP E AARONS FOUNDING CHAIR 1.00 X 0 0 0 KAREN ACKMAN MEMBER 1.00 X 0 0 0 JENNIFER ALLAN SOROS MEMBER 1.00 X 0 0 0 JOHN H ALSCHULER JR CHAIR EMERITUS 1.00 X 0 0 0 BRUCE A BEAL JR MEMBER 1.00 X 0 0 0 JOHN BLONDEL MEMBER 1.00 X 0 0 0 AMANDA M BURDEN MEMBER 1.00 X 0 0 0 JAMES CAPALINO MEMBER 1.00 X 0 0 0 R MARTIN CHAVEZ MEMBER 1.00 X 0 0 0 SHARON DAVIS MEMBER 1.00 X 0 0 0 KRISTEN M DICKEY MEMBER 1.00 X 0 0 0 LISA MARIA FALCONE MEMBER 1.00 X 0 0 0 ELLEN FITZSIMMONS MEMBER 1.00 X 0 0 0 ALEXANDRE VON FURSTENBERG MEMBER 1.00 X 0 0 0 GARY HANDEL MEMBER 1.00 X 0 0 0 JEFFREY HARRIS MEMBER 1.00 X 0 0 0 HERMINE RIEGERL HELLER MEMBER 1.00 X 0 0 0 STEFAN KALUZNY MEMBER 1.00 X 0 0 0 WENDY KEYS MEMBER 1.00 X 0 0 0 JANE LAUDER MEMBER 1.00 X 0 0 0 STEPHEN MACK MEMBER 1.00 X 0 0 0 HEATHER MCDOWELL LEVIN MEMBER 1.00 X 0 0 0 GIFFORD MILLER MEMBER 1.00 X 0 0 0 SARAH MIN MEMBER 1.00 X 0 0 0 DONALD R MULLEN JR MEMBER 1.00 X 0 0 0 MICHAEL PHILLIPS MEMBER 1.00 X 0 0 0 STEVEN RUBENSTEIN MEMBER 1.00 X 0 0 0 MITCHELL SILVER FAICP MEMBER 1.00 X 0 0 0 ELIZABETH W SMITH MEMBER 1.00 X 0 0 0 JON STRYKER MEMBER 1.00 X 0 0 0 DARREN WALKER MEMBER 1.00 X 0 0 0 JOANNE WILSON MEMBER 1.00 X 0 0 0 BRONSON VAN WYCK MEMBER 1.00 X 0 0 0 JEROME BARTH COO AND TREASURER (TO JUL 2015) 40.00 X 214478 0 2154 MARK QUINN DIRECTOR OF FINANCE & ASST.TREASURER 40.00 X 111307 0 7789 TARA MORRIS VICE PRESIDENT OF DEVELOPMENT 40.00 X 210816 0 10360 GONZALO CASALS VP OF PUBLIC PROGRAMS & COMMUNITY ENGAGEMENT 40.00 X 135906 0 9196 ADAM GANSER VICE PRESIDENT FOR PLANNING & DESIGN 40.00 X 128630 0 11878 SANAYA KAUFMAN DIRECTOR OF INDIVIDUAL GIVING 40.00 X 123375 0 5910 CECILIA ALEMANI CURATOR AND DIRECTOR OF HL ART 40.00 X 122786 0 7998 MARTIN NEMBHARD VICE PRESIDENT OF PARK OPERATIONS 40.00 X 118474 0 15911 1854856 0 183155 13 0 1 0 JAMES CORNER FIELD OPERATIONS 475 TENTH AVENUE 9TH FLOOR NEW YORK NY 10018 DESIGN 920363 BITEFOOD LTD 126 UNDERCLIFF AVENUE EDGEWATER NJ 07020 EVENT CATERING 442740 FJ SCIAME CONSTRUCTION CO INC 14 WALL STREET NEW YORK NY 10005 CONSTRUCTION 211151 PIER PRODUCTIONS & ENTERTAINMENT LLC PIER 36 299 SOUTH STREET NEW YORK NY 10002 CONSTRUCTION 165481 MACKTEZ CORPORATION 137 GRAND STREET 4TH FLOOR NEW YORK NY 10013 IT SERVICES 153400 12 3707997 205556 14188926 949573 18102479 SUBLICENSING CONCESSION INCOME 713990 372216 372216 FIELD TRIPS AND WALKING TOURS 713990 43384 43384 415600 801314 801314 1488881 0 1488881 1488881 1488881 15809236 15632952 176284 176284 176284 945993 3707997 945993 0 1294611 552731 741880 632053 109827 OTHER REVENUE 900099 110997 110997 110997 21837435 1158650 109827 2466479 1357949 277116 435034 645799 5864813 4400777 505669 958367 40536 29223 4418 6895 687932 556624 35608 95700 617199 438156 64039 115004 59884 1051 58833 38944 38944 309685 309685 135179 135179 827684 489232 225659 112793 223294 105577 14273 103444 94187 68525 6260 19402 96959 48986 32572 15401 266972 72801 28923 165248 195464 146764 22486 26214 95121 74316 8869 11936 HIGH LINE CONSTRUCTION 1422700 1422700 SUPPLIES 519512 381508 30871 107133 ART PRODUCTION 403810 403810 REPAIRS & MAINTENANCE 401617 394849 3125 3643 820410 373951 118997 327462 14479851 9685966 1769759 3024126 5607032 1232405 9820944 4345044 29848764 25204446 169333 417294 468656 469912 1286245 518095 711205 768150 37219436 59545197 4928468 6331346 45099 74589 88818937 98388383 1190218 1241450 75000 72520 110649 146621 1375867 1460591 X 54241519 66616228 28845430 25129425 4356121 5182139 87443070 96927792 88818937 98388383 X 7357584 -1325489 952627 2500000 X 0 1 X 1 0 X 24155729 28839790 30017686 16812986 18102479 117928670 24155729 28839790 30017686 16812986 18102479 117928670 54046466 63882204 484449 949558 1094440 738409 2290195 5557051 2449 2449 123488170 5646267 0.51730 0.50910 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 3504 0 0 3504 0 PART II-B, LINE 1: IN 2015, FHL STAFF ENGAGED IN LOBBYING ACTIVITIES WITH REPRESENTATIVES FROM VARIOUS NYC AND NYS AGENCIES REGARDING HIGH LINE MAINTENANCE AND OPERATIONS, HIGH LINE PROGRAMMING, COMMUNITY RELATIONS AND ENGAGEMENT, AND SOLICITATION OF FUNDS. 29668788 6283139 -546287 575736 34829904 22360974 7175000 455427 322613 29668788 12300040 8509500 1551434 22360974 4930990 6572000 797050 12300040 4921000 9990 4930990 0.85030 0.14630 0.00340 0 0 802227 366509 435718 484018 151586 332432 768150 HEDGE FUNDS 4820248 F PRIVATE EQUITY FUNDS 1511098 F 6331346 REFUNDABLE DEPOSITS PAYABLE 16500 SECTION 457 RETIREMENT PLAN PAYABLE 130121 146621 23424145 -1325489 547378 2500000 1721889 21702256 135179 135179 21837435 14892050 547378 547378 14344672 135179 135179 14479851 PART V, LINE 4: THE ENDOWMENT FOR SUSTAINABILITY WILL BE USED TO SUPPORT THE OPERATIONS OF THE HIGH LINE INCLUDING, BUT NOT LIMITED TO, HORTICULTURE, MAINTENANCE, VISITOR SERVICES, PUBLIC PROGRAMS, PUBLIC ART COMMISSIONS, AND SCHOOL AND YOUTH PROGRAMS. THE HORTICULTURE AND STEWARDSHIP FUND WILL BE USED TO SUPPORT THE HORTICULTURE CARE AND GENERAL MAINTENANCE OF THE PUBLIC PARK ON THE HIGH LINE. THE PUBLIC PROGRAMS FUND WILL BE USED TO SUPPORT PUBLIC PROGRAMS ON THE PARK, INCLUDING THE HIGH LINE TEEN JOB PROGRAM, SCHOOL FIELD TRIPS, AND PUBLIC ART PROJECTS. THE BOARD DESIGNATED HIGH LINE FUND WILL BE USED TO SUSTAIN THE PARK'S LONG-TERM MAINTENANCE AND OPERATIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REIMBURSEMENT OF CAPITAL FUNDS 2,500,000. X X X X X X 1 MKDM 612 EAST JEFFERSON STREET CHARLOTTESVILLE VA 22902 DIRECT RESPONSE STRATEGY COUNSEL 0 1003943 190888 813055 SUSAN COURTEMANCHE 40 POWDER HORN HILL ROAD WILTON CT 06897 IMPLEMENTATION OF FUNDRAISING EFFICACY STUDY 0 0 38797 0 SUSAN COURTEMANCHE 40 POWDER HORN HILL ROAD WILTON CT 06897 GENERAL FUNDRAISING COUNSEL 0 0 80000 0 1003943 309685 813055 NY CT NJ BENEFIT DINNER 3136663 2455943 680720 410730 241520 4150 24320 ART DINNER 1139367 957693 181674 80680 85141 2969 12884 1 377960 294361 83599 10258 72494 847 4653990 3707997 945993 501668 399155 7119 38051 945993 0 X X X X X X 0 1 0 0 0 0 0 0 0 ROBERT HAMMOND CO-FOUNDER & EXECUTIVE DIRECTOR 352878 0 25000 0 18360 0 95417 0 10239 0 501894 0 0 0 JOSHUA DAVID CO-FOUNDER & PRESIDENT 285487 0 0 0 7359 0 0 0 6303 0 299149 0 0 0 JEROME BARTH COO AND TREASURER (TO JUL 2015) 214345 0 0 0 133 0 0 0 2154 0 216632 0 0 0 TARA MORRIS VICE PRESIDENT OF DEVELOPMENT 207624 0 3000 0 192 0 2098 0 8262 0 221176 0 0 0 PART I, LINE 4B ROBERT HAMMOND RECEIVED AN ANNUAL BONUS PAYMENT OF $91,667 FOR SERVICES PERFORMED AS EXECUTIVE DIRECTOR IN 2015. THE BONUS WAS PAID IN JANUARY 2016. THE ORGANIZATION MAINTAINS A 457(B) DEFERRED COMPENSATION PLAN FOR CERTAIN ELIGIBLE EMPLOYEES. INDIVIDUALS COVERED, AND THE AMOUNTS ACCRUED IN 2015 AS DEFERRED COMPENSATION EXPENSE UNDER THE PLAN ARE AS FOLLOWS: ROBERT HAMMOND: $18,000 JOSHUA DAVID: $7,083 X 10 949573 FAIR MARKET VALUE 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 TWO BOARD MEMBERS, PHILIP AARONS AND MARIO PALUMBO, ARE PARTNERS IN THE SAME FOR-PROFIT CORPORATION. A THIRD BOARD MEMBER, GARY HANDEL, PROVIDES SERVICES TO THEIR CORPORATION. FORM 990, PART VI, SECTION B, LINE 11 THE 990 IS PREPARED BY THE ORGANIZATION'S CONTROLLER AND REVIEWED BY THE VICE PRESIDENT OF FINANCE. THE 990 IS THEN FORWARDED TO THE ORGANIZATION'S ACCOUNTING FIRM FOR FINAL REVIEW. THE 990 IS PRESENTED TO THE AUDIT & FINANCE COMMITTEE OF THE BOARD BY THE VICE PRESIDENT OF FINANCE. THE 990 IS THEN MADE AVAILABLE TO BOARD MEMBERS FOR REVIEW AT A BOARD MEETING BEFORE THE RETURN IS FILED. FORM 990, PART VI, SECTION B, LINE 12C TO ENSURE THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES ITS CONFLICTS OF INTEREST POLICY, EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH POWERS DELEGATED BY THE BOARD SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS SUCH PERSON: A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; B) HAS READ AND UNDERSTANDS THE POLICY; C) HAS AGREED TO COMPLY WITH THE POLICY; D) HAS COMPLETED, REVIEWED OR UPDATED THEIR CONFLICT OF INTEREST DISCLOSURE E) UNDERSTANDS THAT FHL IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THE AUDIT AND FINANCE COMMITTEE OVERSEES THE IMPLEMENTATION OF, AND COMPLIANCE WITH, FHL'S CONFLICTS OF INTEREST POLICY. UPON THE FIRST KNOWLEDGE BY AN INTERESTED PERSON THAT FHL OR THE BOARD OR A COMMITTEE THEREOF IS CONSIDERING OR HAS CONSIDERED A TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT WITH AN ENTITY OR INDIVIDUAL IN WHICH THE INTERESTED PERSON HAS AN INTEREST, THE INTERESTED PERSON MUST DISCLOSE IN GOOD FAITH THE EXISTENCE OF, AND MATERIAL FACTS CONCERNING, HIS OR HER INTEREST TO THE AUDIT AND FINANCE COMMITTEE OF THE BOARD (THE "AUDIT COMMITTEE"). THE AUDIT COMMITTEE SHALL THEN DETERMINE, BY A VOTE OF NOT LESS THAN A MAJORITY OF THE MEMBERS OF THE AUDIT COMMITTEE PRESENT AT THE MEETING, WHETHER THE TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT IS FAIR, REASONABLE AND IN THE BEST INTERESTS OF FHL AT THE TIME OF SUCH DETERMINATION AND SHALL MAKE A DECISION WHETHER TO ENTER INTO THE TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT IN ACCORDANCE WITH SUCH DETERMINATION. WITH RESPECT TO ANY RELATED PARTY TRANSACTION IN WHICH AN INTERESTED PERSON OR HIS OR HER RELATED PARTIES HAS A SUBSTANTIAL FINANCIAL INTEREST, IN DETERMINING WHETHER THE TRANSACTION, AGREEMENT OR OTHER ARRANGEMENT IS FAIR, REASONABLE AND IN THE BEST INTERESTS OF FHL, THE AUDIT COMMITTEE SHALL REVIEW AVAILABLE INFORMATION REGARDING THE COST AND BENEFIT OF COMPARABLE ALTERNATIVE TRANSACTIONS, AGREEMENTS OR OTHER ARRANGEMENTS, IF ANY. FORM 990, PART VI, SECTION B, LINE 15 BEFORE THE START OF EACH FISCAL YEAR, THE ORGANIZATION'S COMPENSATION COMMITTEE COMPARES THE PROPOSED COMPENSATION OF EACH MEMBER OF THE EXECUTIVE TEAM WITH PEER NON-PROFIT ORGANIZATIONS. THE COMMITTEE ALSO EVALUATES EACH EXECUTIVE TEAM MEMBER'S PERFORMANCE TO ENSURE THAT PROPOSED ANNUAL INCREASES ARE APPROPRIATE. FORM 990, PART VI, SECTION C, LINE 19 BY WRITTEN REQUEST. FORM 990, PART XI, LINE 9: REIMBURSEMENT OF CAPITAL FUNDS 2,500,000. FORM 990, PART IX: STATEMENT OF FUNCTIONAL EXPENSES SUMMARY OF OPERATING AND CAMPAIGN EXPENSES OPERATING PROGRAM SERVICE EXPENSES: $7,770,692 OPERATING MANAGEMENT AND GENERAL EXPENSES: 1,769,759 OPERATING FUNDRAISING EXPENSES: 2,282,446 TOTAL OPERATING EXPENSES: $11,822,897 CAMPAIGN CONSTRUCTION AND PLANNING EXPENSES: $1,915,274 CAMPAIGN FUNDRAISING EXPENSES: 741,680 TOTAL CAMPAIGN EXPENSES: $2,656,954 TOTAL FUNCTIONAL EXPENSES, PART IX, LINE 25: $14,479,851