2016-02-12T16:18:52-06:00 2015-06-30 941254756 HOOD & STRONG LLP 100 FIRST STREET 14TH FLOOR SAN FRANCISCO CA 94105 990 2014-07-01 943227260 JEWISH COMMUNITY CENTER OF SAN FRANCISCO JEWI 4152921230 3200 CALIFORNIA STREET SAN FRANCISCO CA 94118 ADRIAN BREITFELD CFO 4152921232 2016-02-12 1 MAGA E KISRIEV P01008919 4157810793 2014 2016-08-17 19:52:53Z ADRIAN BREITFELD 3200 CALIFORNIA STREET SAN FRANCISCO CA 94118 39376731 0 X WWW.JCCSF.ORG X 1877 CA THE JCCSF SERVES THE NEEDS OF THE SAN FRANCISCO JEWISH COMMUNITY. 23 22 724 1845 14651 -12633 4962878 4756122 28190148 29071209 2291375 1709060 531545 385318 35975946 35921709 599934 623152 0 0 22573347 23756801 0 0 1666364 11534871 15413540 34708152 39793493 1267794 -3871784 79169950 77659768 7499707 10885544 71670243 66774224 X THE MISSION OF THE JEWISH COMMUNITY CENTER OF SAN FRANCISCO (JCCSF) IS TO ENRICH LIFE, BUILD JEWISH IDENTITY, PROMOTE THE DEVELOPMENT OF MEANINGFUL BONDS WITHIN OUR COMMUNITY, AND TO FACILITATE CONNECTIONS WITH ISRAEL AND JEWS WORLDWIDE. THE JCCSF IS THE JEWISH GATEWAY AND NEIGHBORHOOD WHERE ALL ARE WELCOME. IT PROVIDES QUALITY EXPERIENCES THROUGH A MIX OF FORMAL AND INFORMAL JEWISH EDUCATIONAL, RECREATIONAL, AND CULTURAL ACTIVITIES. PEOPLE OF ALL AGES, FAITHS AND BACKGROUNDS ARE INVITED TO PARTICIPATE AT THEIR LEVEL OF INTEREST AND ENCOURAGED TOWARD HIGHER LEVELS OF INVOLVEMENT IN JEWISH LIFE AND IN THE COMMUNITY AT LARGE. 0 0 8874374 58915 12782243 THE KORET CENTER FOR HEALTH, FITNESS & SPORT AT THE JCCSF PROMOTES HEALTH AND WELLNESS BY PROVIDING FITNESS, AQUATICS, SPORTS, AND EDUCATION PROGRAMS FOR PEOPLE OF ALL AGES. WITH EXCEPTIONAL FACILITIES AND OUTSTANDING PROFESSIONALS, THE PROGRAM IS DEDICATED TO HELPING INDIVIDUALS IMPROVE THEIR PERSONAL FITNESS, HEALTH, AND LIFESTYLE. THE KORET CENTER FOR HEALTH, FITNESS & SPORT PROMOTES AND BUILDS COMMUNITY BY ENGAGING PEOPLE IN CLASSES, SPORTS AND RECREATIONAL ACTIVITIES IN WHICH THEY CAN MEET AND HAVE FUN WITH 13,500 CENTER MEMBERS AND ANOTHER 5,000 COMMUNITY MEMBERS WHO SHARE THEIR INTERESTS. 7293482 375345 6958329 THE CLAUDE & LOUISE ROSENBERG EARLY CHILDHOOD EDUCATION PROGRAM ENRICHES THE LIVES OF OVER 400 YOUNG CHILDREN AND THEIR FAMILIES BY PROVIDING A VARIETY OF OPPORTUNITIES FOR LEARNING, GROWTH AND EXPLORATION IN A JEWISH SETTING. THE PROGRAM'S REGGIO EMILIA-INSPIRED APPROACH TO EARLY CHILDHOOD EDUCATION FOSTERS STRONG RELATIONSHIPS BETWEEN CHILDREN, TEACHERS, AND PARENTS. THIS APPROACH SUPPORTS AND ENRICHES FAMILY LIFE AND JEWISH COMMUNITY LIFE THROUGH PARENT/BABY/TODDLER GROUPS, PARENT EDUCATION, FAMILY EDUCATION, SOCIAL PROGRAMS, AND HOLIDAY CELEBRATIONS. 6336663 2065 1735584 THE GOLDMAN CENTER FOR ADULT LIVING AND LEARNING; THE TAUBE-KORET CENTER FOR JEWISH PEOPLEHOOD; THE FRIEND CENTER FOR THE ARTS; AND THE KRITZER/ROSS EMIGRE PROGRAM PROVIDE ADULTS WITH QUALITY EXPERIENCES THROUGH A MIX OF FORMAL AND INFORMAL JEWISH EDUCATIONAL, RECREATIONAL, AND CULTURAL ACTIVITIES. PEOPLE OF ALL AGES ARE INVITED TO PARTICIPATE AT THEIR LEVEL OF INTEREST AND ENCOURAGED TOWARD HIGHER LEVELS OF INVOLVEMENT IN JEWISH LIFE AND IN THE COMMUNITY AT LARGE. DAILY OFFERINGS INCLUDE CLASSES RANGING FROM FINE ARTS, COOKING, MUSIC, DANCE, CERAMICS, FOREIGN LANGUAGE STUDY, AND CAREER DEVELOPMENT TO AN INTERNATIONAL TRAVEL PROGRAM, AND MUCH MORE. OVER 20,000 INDIVIDUALS ATTEND THE ARTS & IDEAS PERFORMANCES AND LECTURES ANNUALLY. IN ADDITION, THE JCCSF SERVES MORE THAN 17,000 HOT LUNCHES, SIX DAYS A WEEK AND PROVIDES OTHER FREE AND LOW-COST DAYTIME PROGRAMMING FOR LOW-INCOME SENIORS ANNUALLY. 9960343 186827 7737580 THE HAVURAH YOUTH CENTER PROVIDES AN AFTERSCHOOL ENRICHMENT PROGRAM FOR CHILDREN IN SAN FRANCISCO THAT MEETS MONDAY-FRIDAY AND SCHOOL HOLIDAYS. ANCILLARY SERVICES INCLUDE ONSITE PARKING, DAYENU GIFT SHOP, AND COMMUNITY TABLE (CAF) SALES. 9960343 186827 7737580 32464862 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 121 0 1 724 1 1 1 0 0 0 0 1 1 0 0 0 0 X 23 22 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X ADRIAN BREITFELD 4152921232 3200 CALIFORNIA STREET SAN FRANCISCO CA 94118 WARREN BROWNER MD MPH CHAIR 10.00 X X 0 0 0 MARK W BERNSTEIN VICE CHAIR 5.00 X X 0 0 0 SHANA PENN VICE CHAIR 5.00 X X 0 0 0 TOBY ROSENBLATT VICE CHAIR 5.00 X X 0 0 0 SUSAN LOWENBERG TREASURER 5.00 X X 0 0 0 JEN TRAEGER-HIRSCHFELDER SECRETARY 5.00 X X 0 0 0 SINJIN BAIN DIRECTOR 3.00 X 0 0 0 JENNIFER HYMES BATTAT DIRECTOR 3.00 X 0 0 0 DAVID CRANE DIRECTOR 3.00 X 0 0 0 BOB FIELDS DIRECTOR 3.00 X 0 0 0 BENJAMIN FRIEND DIRECTOR 3.00 X 0 0 0 STEVE GOODMAN DIRECTOR 3.00 X 0 0 0 HOLLY HAGENS DIRECTOR 3.00 X 0 0 0 JODI SHERMAN JAHIC DIRECTOR 3.00 X 0 0 0 JOSHUA JOSEPH DIRECTOR 3.00 X 0 0 0 DAVID KATZNELSON DIRECTOR 3.00 X 0 0 0 ERIC PROSNITZ DIRECTOR 3.00 X 0 0 0 SOPHIE ROSS DIRECTOR 3.00 X 0 0 0 PHILIP SCHLEIN DIRECTOR 3.00 X 0 0 0 VIC SHER DIRECTOR 3.00 X 0 0 0 LARA EDELBAUM SUNSHINE DIRECTOR 3.00 X 0 0 0 ROB WOLFSON DIRECTOR 3.00 X 0 0 0 MARCI GLAZER INTERIM EXECUTIVE DIRECTOR 40.00 X X 83112 0 554 BARRY FINESTONE EXECUTIVE DIRECTOR (THRU 8/14/14) 40.00 X 305885 0 19336 ADRIAN BREITFELD CHIEF FINANCIAL OFFICER 40.00 X 203366 0 17378 TODD BRAMAN COO (THRU 8/28/14) 40.00 X 185439 0 16129 CRAIG A SALGADO CHIEF OPERATING OFFICER 40.00 X 131434 0 16266 RACHEL BRODIE CHIEF JEWISH OFFICER 40.00 X 165377 0 18926 BETHANNE DOYLE CHIEF EXPERIENCE OFFICER 40.00 X 161011 0 18032 LLOYD SACKS VICE PRESIDENT OF DEVELOPMENT 40.00 X 150306 0 19734 NATHANIEL BERGSON-MICHELSON DIRECTOR OF BUSINESS INTELLIGENCE 40.00 X 141281 0 9149 BARBARA LANE DIRECTOR OF ARTS AND IDEAS 40.00 X 139163 0 15801 PAMELA SCHNEIDER DIRECTOR OF EARLY CHILDHOOD EDUCATION 40.00 X 133853 0 26975 1800227 0 178280 15 0 1 0 ABM PARKING SERVICES 600 HARRISON STREET STE 600 SAN FRANCISCO CA 94107 PARKING MANAGEMENT 496037 TRACTION SALES AND MARKETING INC 2700 PRODUCTION WAY 5TH FLOOR BURNABY CA V5A 0C2 CONSULTING 221962 XANTRION 651 THOMAS L BERKLEY WAY OAKLAND CA 94612 IT SUPPORT 211588 BIRST INC DEPT 3481 PO BOX 3481 DALLAS TX 753123481 BUSINESS INTELLIGENCE PLATFORM & SERVICE 154065 BUILDING & FACILITIES SERVICES LLC 63 BOVET ROAD 334 SAN MATEO CA 94402 JANITOR SERVICE 147992 9 X 801375 185158 3769589 200779 4756122 PROGRAM REVENUE 900099 26991320 26991320 AUX/OTHER PROG RELATED 900099 2079889 2079889 29071209 963357 963357 384749 86955 97588 97588 287161 -10633 276528 -10633 287161 3750323 14171 3018791 0 731532 14171 745703 745703 177973 801375 241055 -63082 -63082 4061 0 4061 4061 OTHER REVENUE 900099 142527 142527 ADVERTISING 541800 25284 25284 167811 35921709 29213736 14651 1937200 X 623152 623152 1067686 493835 383664 190187 17467412 14915386 1839252 712774 1006665 598621 371132 36912 2584719 2274634 237144 72941 1630319 1393381 172045 64893 85015 17353 40448 27214 55100 55100 123007 105417 17221 369 2111894 1392001 666307 53586 643979 538360 64879 40740 815048 538136 259841 17071 3107667 2333633 711618 62416 99235 82496 13565 3174 157867 121361 22866 13640 67916 58204 9508 204 1859211 1593344 260289 5578 253336 102572 50255 100509 PENSION PLAN TERM. 3000461 2501579 354048 144834 PROGRAM SUPPLIES/EXP. 2456535 2405015 11646 39874 LOAN COSTS-AMORT. 44471 38112 6226 133 PROGRAM EVENTS 7574 7325 111 138 525224 330945 115102 79177 39793493 32464862 5662267 1666364 910684 2482936 1800330 0 1535518 1018168 99607 93796 30000 14813 24500 494070 465480 70214586 22636994 48626145 47577592 24996072 25010773 638523 532023 24188 454500 79169950 77659768 2380681 2899651 2424158 2568765 2694868 2416667 0 3000461 7499707 10885544 X 56394768 52330560 5725463 4881954 9550012 9561710 71670243 66774224 79169950 77659768 -3871784 -1024235 0 X 0 1 X 1 0 X 4417377 4983380 4876821 4962878 4756122 23996578 4417377 4983380 4876821 4962878 4756122 23996578 2198344 21798234 4066229 3428661 2557998 1185568 1348106 12586562 144196 352368 980425 149234 182034 1808257 38391397 132381485 0.56780 0.61020 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: INCOME FROM SPECIAL EVENTS - 2010 AMOUNT: $ 144,196. 2011 AMOUNT: $ 120,416. 2012 AMOUNT: $ 106,147. 2013 AMOUNT: $ 145,609. 2014 AMOUNT: $ 177,973. ADVERTISING - 2011 AMOUNT: $ 31,852. MISCELLANEOUS - 2011 AMOUNT: $ 197,175. GAMING REVENUE - 2011 AMOUNT: $ 2,925. 2012 AMOUNT: $ 4,425. 2013 AMOUNT: $ 3,625. 2014 AMOUNT: $ 4,061. GAIN ON INTEREST RATE SWAP TERMINATION - 2012 AMOUNT: $ 850,876. GROSS SALES OF INVENTORY - 2012 AMOUNT: $ 18,977. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 398321 X X 0 20489698 11698 470185 849802 20121779 17937623 8876 3339367 796168 20489698 15574526 105552 2835282 577737 17937623 16341577 298138 -312572 752617 15574526 14568441 118367 2790854 1136085 16341577 0.33320 0.47520 0.19160 0 0 2104375 2104375 63188181 18892666 44295515 4463057 3368627 1094430 458973 375701 83272 47577592 PENSION PLAN LIABILITY 3000461 3000461 X 34346490 -1024235 -623153 -1647388 35993878 123007 -195176 -72169 35921709 39242509 195176 195176 39047333 123007 623153 746160 39793493 PART X, LINE 2: THE CENTER IS A TAX EXEMPT ORGANIZATION UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND THE CALIFORNIA TAX CODE. THE CENTER'S CURRENT ACCOUNTING POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS. ACCORDINGLY, A LOSS CONTINGENCY IS RECOGNIZED WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. MANAGEMENT EVALUATED THE CENTER'S TAX POSITION AND CONCLUDED THAT THE CENTER HAD MAINTAINED ITS TAX EXEMPT STATUS AND HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRED ADJUSTMENT TO THE FINANCIAL STATEMENTS. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES HAS BEEN INCLUDED IN THE FINANCIAL STATEMENTS. THE CENTER CONTINUES TO REMAIN SUBJECT TO EXAMINATION BY U.S. FEDERAL AUTHORITIES FOR TAX YEARS 2011 THROUGH 2014 AND FOR CALIFORNIA STATE AUTHORITIES FOR TAX YEARS 2010 THROUGH 2014. PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIP RECLASSIFIED TO EXPENSES -623,153. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES RECLASSIFIED TO REVENUE -195,176. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES RECLASSIFIED TO REVENUE 195,176. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIP RECLASSIFIED TO EXPENSES 623,153. SHOWCASE 737026 673026 64000 7380 1309 31248 25796 12303 STAR GALA 242322 128349 113973 107719 1568 29113 6165 18454 979348 801375 177973 115099 2877 60361 31961 30757 241055 -63082 SCHEDULE G, PART II, LINE 11, NET INCOME SUMMARY NOTE THE NET INCOME SUMMARY SUBTRACTS DONOR CONTRIBUTIONS (LINE 2) ASSOCIATED WITH EACH FUNDRAISING EVENT AND ONLY INCLUDES REVENUE EARNED FROM THESE EVENTS (FOR EXAMPLE, AUCTION ITEMS). DIRECT EXPENSES MAY ONLY BE APPLIED TO GROSS INCOME (LINE 3) WHICH, FOR THE PURPOSES OF THIS SCHEDULE G, EXCLUDES DONOR CONTRIBUTIONS (LINE 2). THEREFORE, PLEASE LOOK TO THE GROSS RECEIPTS AMOUNTS AS PRESENTED (LINE 1) TO UNDERSTAND THE TOTAL REVENUE RAISED BY EACH EVENT. 1 SCHOLARSHIPS 472 623152 0 PART I, LINE 2: SCHOLARSHIPS ARE GRANTED FOR PARTICIPATION IN JCCSF SPONSORED PROGRAMS ONLY. ACCOUNTING MONITORS ALL SCHOLARSHIP ACTIVITY. SCHEDULE I, PART III, COLUMN (B) NUMBER REPRESENTS THE TOTAL NUMBER OF SCHOLARSHIPS GIVEN. X X X X 0 0 0 0 0 0 0 0 0 BARRY FINESTONE EXECUTIVE DIRECTOR (THRU 8/14/14) 259346 0 0 0 46539 0 12200 0 7136 0 325221 0 0 0 ADRIAN BREITFELD CHIEF FINANCIAL OFFICER 201846 0 1250 0 270 0 10205 0 7173 0 220744 0 0 0 TODD BRAMAN COO (THRU 8/28/14) 155938 0 1250 0 28251 0 8993 0 7136 0 201568 0 0 0 RACHEL BRODIE CHIEF JEWISH OFFICER 163677 0 1250 0 450 0 8221 0 10705 0 184303 0 0 0 BETHANNE DOYLE CHIEF EXPERIENCE OFFICER 150769 0 1250 0 8992 0 7327 0 10705 0 179043 0 0 0 LLOYD SACKS VICE PRESIDENT OF DEVELOPMENT 149055 0 1000 0 251 0 9029 0 10705 0 170040 0 0 0 NATHANIEL BERGSON-MICHELSON DIRECTOR OF BUSINESS INTELLIGENCE 140005 0 1000 0 276 0 8440 0 709 0 150430 0 0 0 BARBARA LANE DIRECTOR OF ARTS AND IDEAS 136398 0 1000 0 1765 0 8096 0 7705 0 154964 0 0 0 PAMELA SCHNEIDER DIRECTOR OF EARLY CHILDHOOD EDUCATIO 132155 0 0 0 1698 0 17170 0 9805 0 160828 0 0 0 X 10 99637 FMV X AUCTION PRIZES 159 86316 FAIR MARKET VALUE X PIANO 1 7446 FAIR MARKET VALUE X WINE 1 7380 FAIR MARKET VALUE 1 0 1 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REFLECTS THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS CONTRIBUTED. SCHEDULE M, PART I, LINE 25: JCC RECEIVED NONCASH DONATIONS FROM MORE THAN 100 DONORS FOR FUNDRAISING EVENTS AS AUCTION PRIZES. THESE ITEMS INCLUDED SPORTS TICKETS, GIFT CERTIFICATES, WINE, ETC. PART I, LINE 32B: THE JCCSF UTILIZES A THIRD PARTY TO MANAGE ALL VEHICLE DONATIONS. CHARITABLE ADULT RIDES & SERVICES, INC. HANDLES ACCEPTING, PROCESSING, AND SELLING ALL DONATED VEHICLES. JCCSF RECEIVES 70% OF THE NET SALE AMOUNT. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WAS AMENDED IN 2015 TO REFLECT THE ADDITION OF THE CEO TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11 THE TAXPAYER'S ACCOUNTING FIRM FORWARDED THE FORM 990 TO THE CFO AND CONTROLLER WHO REVIEWED THE RETURN IN DETAIL. THEREAFTER, THE RETURN WAS PROVIDED TO BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING THE FORM 990; ANY QUESTIONS WERE DIRECTED TO THE CFO OR CONTROLLER. THE CFO AND CONTROLLER OR THE ACCOUNTING FIRM ADDRESSED QUESTIONS FROM THE BOARD. A PHONE CONFERENCE WAS HELD WITH BOARD MEMBERS AND THE ACCOUNTING FIRM TO DISCUSS ANY POTENTIAL ISSUES. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY IS REVIEWED WITH ALL NEW HIRES DURING ORIENTATION. THE JCCSF IS COMMITTED TO MAINTAINING THE HIGHEST STANDARDS OF CONDUCT AND PROMPTLY INVESTIGATES AND RESPONDS TO ANY FRAUDULENT OR MISUSE OF JCCSF RESOURCES AND PROPERTY, AND ANY INAPPROPRIATE CONDUCT. THE JCCSF CONTINUOUSLY ENFORCES THE POLICY AND REINFORCES THE COMMITMENT TO STANDARDS OF CONDUCT BY TAKING TIMELY AND APPROPRIATE CORRECTIVE ACTION. ANY POTENTIAL CONFLICTS ARE REVIEWED BY THE JCCSF BOARD PRESIDENT. IF A POTENTIAL CONFLICT EXISTS, THE BOARD, MINUS THE INTERESTED PERSON, MAKES A DETERMINATION WHETHER AN ACTUAL CONFLICT OF INTEREST EXISTS. IF AN ACTUAL CONFLICT EXISTS, THE INTERESTED PERSON WILL BE ASKED TO EITHER LEAVE THE ROOM OR REFRAIN FROM PARTICIPATION DURING ANY PART OF RELATED DISCUSSIONS. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE DETERMINES AND APPROVES COMPENSATION FOR THE EXECUTIVE DIRECTOR AND CFO THROUGH THE USE OF COMPARABILITY DATA. ALL DELIBERATIONS AND DECISIONS ARE DOCUMENTED AND MAINTAINED BY THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE JCCSF HAS AUDITED FINANCIALS ON THE WEBSITE AND IN OUR ANNUAL REPORT. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE FURNISHED FOR THE SAME PERIOD OF TIME SET FORTH IN SEC. 6104(D) AS REQUESTED. FORM 990, PART VIII, LINE 2A PROGRAM REVENUE COMPRISES OF THE FOLLOWING: PROGRAM REVENUE $14,209,077 FITNESS CENTER PROGRAM REVENUE $12,782,243 TOTAL TO FORM 990, PART VIII, LINE 2A $26,991,320 FORM 990, PART IX, LINE 24A THE CENTER PARTICIPATED IN THE JEWISH COMMUNITY FEDERATION'S (THE "JCF") MULTIPLE EMPLOYER PENSION PLAN. THE PLAN PROVIDED DEFINED BENEFITS TO ALL ELIGIBLE EMPLOYEES. THE JCF, TOGETHER WITH ALL AFFILIATED AGENCIES DECIDED TO TERMINATE THE PLAN. THE PLAN WAS FROZEN EFFECTIVE DECEMBER 31, 2007. ON DECEMBER 17, 2014, THE CENTER'S BOARD PASSED A RESOLUTION TO TERMINATE ITS PARTICIPATION IN THE PLAN AND AS A RESULT AGREED TO PAY THE TERMINATION PAYMENT TO SETTLE THE OBLIGATION IN FULL. PURSUANT TO THE AGREEMENT, ON JANUARY 28, 2015, THE CENTER PAID A DEPOSIT OF $450,000 INTO THE JCF ESCROW ACCOUNT, WHICH WILL BE APPLIED AGAINST THE SETTLEMENT OF THE OBLIGATION. AS OF JUNE 30, 2015, THE CENTER ESTIMATED AND ACCRUED ITS PORTION OF PENSION OBLIGATION TO BE $3,000,461. THIS OBLIGATION IS SCHEDULED TO BE PAID IN FULL BEFORE DECEMBER 31, 2015.