2015-08-17T10:23:46-05:00 2014-09-30 910189318 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2013-10-01 850131810 THE SANTA FE OPERA SANT 5059865955 PO BOX 2408 SANTA FE NM 87504 HEATHER KEMP DIRECTOR OF ACCTG & FINANCE 5059865955 2015-08-13 1 PAMELA ALEXANDERSON P01218925 5058787200 2013 2016-02-25 16:41:14Z SUSAN G MARINEAU PO BOX 2408 SANTA FE NM 87504 85847625 0 X WWW.SANTAFEOPERA.ORG X 1957 NM TO FOSTER AND ENRICH AN UNDERSTANDING AND APPRECIATION OF THE OPERATIC ART FORM. 43 43 610 1315 568157 139988 6717921 29854154 10355440 9889404 2030463 7093676 941778 1003994 20045602 47841228 0 0 0 0 9871669 10554120 0 0 2061438 11044851 11755537 20916520 22309657 -870918 25531571 95191958 117852305 2509728 3400527 92682230 114451778 X TO FURTHER THE OPERATIC ART FORM BY PRESENTING ENSEMBLE PERFORMANCES OF THE HIGHEST QUALITY IN A VARIED REPERTOIRE OF NEW AS WELL AS RARELY PERFORMED AND STANDARD WORKS, TO ENSURE EXCELLENCE OF OPERA'S FUTURE THROUGH ITS APPRENTICE PROGRAMS FOR ARTISTS, TECHNICIANS AND ARTS ADMINISTRATORS, AND TO FOSTER AND ENRICH AN UNDERSTANDING AND APPRECIATION FOR OPERA IN THE COMMUNITY BY OUTREACH TO A DIVERSE PUBLIC. 0 0 14806099 9635666 ONE OF THE NATION'S MOST IMPORTANT SUMMER FESTIVALS, THE SANTA FE OPERA IS PRAISED FOR ITS INNOVATIVE REPERTORY AND HIGH STANDARDS OF EXCELLENCE. IN THE 2014 FESTIVAL SEASON, 38 PERFORMANCES OF FIVE OPERAS WERE PERFORMED: CARMEN BY GEORGES BIZET, DON PASQUALE BY GAETANO DONIZETTI, FIDELIO BY LUDWIG VAN BEETHOVEN, A DOUBLE BILL CONSISTING OF THE IMPRESARIO BY WOLFGANG AMADEUS MOZART AND LE ROSSIGNOL BY IGOR STRAVINKSY, AND THE AMERICAN PREMIERE OF DR. SUN YAT-SEN BY HUANG RUO. TWO PERFORMANCES OF APPRENTICE SCENES SHOWCASED MEMBERS OF THE COMPANY'S APPRENTICE PROGRAM FOR SINGERS AND TECHNICIANS. THE TOTAL AUDIENCE WAS 78,058. THE OPERA'S FAMED APPRENTICE PROGRAM OF SINGERS, ONE OF THE NATION'S MOST DISTINGUISHED TRAINING PROGRAMS, ALLOWS 43 ASPIRING YOUNG SINGERS, CHOSEN FROM SOME 800 APPLICANTS, TO DEVELOP THEIR SKILLS BY WORKING WITH PRINCIPAL ARTISTS, MUSIC TEACHERS, AND COACHES. THE APPRENTICE PROGRAM FOR TECHNICIANS PROVIDES EXPERIENCE AND TRAINING FOR SOME 76 YOUNG PEOPLE IN THE ART OF STAGECRAFT. 1189797 499930 THE SANTA FE OPERA'S EDUCATION AND COMMUNITY OUTREACH PROGRAMS OFFER A WIDE SELECTION TO BOTH STUDENTS AND ADULTS. IN 2014, 47,186 INDIVIDUALS WERE SERVED, 33,599 ADULTS AND 13,587 YOUTHS. EDUCATION AND OUTREACH PROGRAMS INCLUDE THE FOLLOWING:THE PUEBLO OPERA PROGRAM BRINGS STUDENTS, ELDERS, AND CHAPERONES TO A FINAL DRESS REHEARSAL FOR AN OPERA IN THE CURRENT SEASON. BEGUN IN 1973, 19 PUEBLOS AND 3 RESERVATIONS ATTEND THESE FULLY STAGED PRODUCTIONS. PARTICIPANTS IN THE YOUTH NIGHT PROGRAM ATTENDED A FINAL FULL DRESS REHEARSAL. STUDENTS IN ELEMENTARY AND MIDDLE SCHOOL WHO PARTICIPATE IN THE ACTIVE LEARNING THROUGH OPERA PROGRAM WORK WITH ARTISTS-IN-RESIDENCE TO EXPLORE LEARNING THROUGH THE PERFORMING ARTS, OFTEN WRITING, PRODUCING, AND PERFORMING THEIR OWN OPERAS BOTH IN-SCHOOL AND AFTER SCHOOL. SPRING OPERA TOURS PRESENT A FREE INTRODUCTION TO OPERA IN SCHOOLS AND COMMUNITIES IN NEW MEXICO AND WESTERN TEXAS. BACKSTAGE TOURS IN THE OPERA'S THEATER ARE OFFERED DURING THE WEEK THROUGHOUT THE SUMMER FESTIVAL SEASON. COMMUNITY CONCERTS ARE FREE EVENTS FEATURING APPRENTICE SINGERS DURING THE SUMMER AND CHRISTMAS HOLIDAY SEASON IN DIFFERENT VENUES. OPERA MAKES SENSE IS A SPECIAL INTRODUCTION FOR THREE TO FIVE YEAR OLDS EXPLORING MUSIC THROUGH THEIR FIVE SENSES. ADULT EDUCATION OFFERS A VARIETY OF SYMPOSIUMS AND PROGRAMS FOR BOTH THE OPERA AFICIONADO AND NOVICE THROUGHOUT THE YEAR, INCLUDING A WEEK-LONG INTENSIVE SEMINAR, PRELUDE TALKS PRIOR TO EACH OPERA, AND PREVIEW DINNERS FEATURING A SPEAKER WHO PROVIDES CONTEXT AND SYNOPSIS FOR EACH OPERA. 15995896 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 355 0 1 610 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 X 43 43 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NM NY X THE ORGANIZATION 5059865955 301 OPERA DRIVE SANTA FE NM 87506 SUSAN GRAF MARINEAU PRESIDENT (AS OF 8/9/2014) 5.00 X X 0 0 0 PETER FRANK VICE PRESIDENT 5.00 X X 0 0 0 ROBERTA COOPER RAMO VICE PRESIDENT 5.00 X X 0 0 0 JOSEPH BRYAN JR FIRST VICE PRESIDENT (CHAIRMAN THROUGH 8/8/14) 5.00 X X 0 0 0 T PETER TOWNSEND TREASURER 5.00 X X 0 0 0 DAN PERRY SECRETARY (AS OF 8/9/2014) 5.00 X X 0 0 0 DR ROBERT ZONE SECRETARY (THROUGH 8/8/14) 5.00 X X 0 0 0 SUSAN MORRIS CHAIRMAN (PRESIDENT THROUGH 8/8/2014) 5.00 X X 0 0 0 THE HONORABLE PATIRICA MCFATE VICE-CHAIRMAN 5.00 X X 0 0 0 JAMES SEITZ JR VICE-CHAIRMAN 5.00 X 0 0 0 SARAH BILLINGHURST SOLOMON DIRECTOR 1.00 X 0 0 0 WILLIAM A BROSIUS DIRECTOR 1.00 X 0 0 0 J BRUCE BUGG JR DIRECTOR 1.00 X 0 0 0 BRUCE CHEMEL DIRECTOR 1.00 X 0 0 0 EH CORRIGAN DIRECTOR 1.00 X 0 0 0 PAULINE CUNCANNAN DIRECTOR 1.00 X 0 0 0 RICHARD DAVIS DIRECTOR 1.00 X 0 0 0 NANCIE DOMINIC DIRECTOR 1.00 X 0 0 0 KRISTINA FLANAGAN DIRECTOR 1.00 X 0 0 0 JOSEPHINE GILMORE DIRECTOR 1.00 X 0 0 0 FREDERICK HAAS DIRECTOR 1.00 X 0 0 0 ANN SHILLING HARRISON DIRECTOR 1.00 X 0 0 0 RICHARD HIGGINS DIRECTOR 1.00 X 0 0 0 DAVID INGALLS DIRECTOR 1.00 X 0 0 0 PHILIP JELLEY DIRECTOR 1.00 X 0 0 0 PLATO KARAYANIS DIRECTOR 1.00 X 0 0 0 DONNA KENDALL DIRECTOR 1.00 X 0 0 0 DR WALTER KIRCHNER DIRECTOR 1.00 X 0 0 0 DAVID KLEINFELD DIRECTOR 1.00 X 0 0 0 MARYON DAVIES LEWIS DIRECTOR 1.00 X 0 0 0 DIANNE LOOMIS DIRECTOR 1.00 X 0 0 0 DR RAYMOND LUTZ DIRECTOR 1.00 X 0 0 0 NEDRA MATTEUCCI DIRECTOR 1.00 X 0 0 0 MARILYN MCCONNELL DIRECTOR 1.00 X 0 0 0 DAVID ELLIS MCNEEL DIRECTOR 1.00 X 0 0 0 CHARLES MOORE DIRECTOR 1.00 X 0 0 0 DAN NAMINGHA DIRECTOR 1.00 X 0 0 0 DAVID PADILLA DIRECTOR 1.00 X 0 0 0 ESTEVAN RAEL-GALVEZ DIRECTOR 1.00 X 0 0 0 CAREY RAMOS DIRECTOR 1.00 X 0 0 0 ANN ROLLEY DIRECTOR 1.00 X 0 0 0 GEORGE SHIRLEY DIRECTOR 1.00 X 0 0 0 FREDERICK SIMON DIRECTOR 1.00 X 0 0 0 EUGENE STARK JR DIRECTOR 1.00 X 0 0 0 IRWIN SUGARMAN DIRECTOR 1.00 X 0 0 0 C WILLIAM TANZI DIRECTOR 1.00 X 0 0 0 ROBERT TURNER DIRECTOR 1.00 X 0 0 0 DANNEHL TWOMEY DIRECTOR 1.00 X 0 0 0 ROBERT WEISS DIRECTOR 1.00 X 0 0 0 ROBERT VLADEM DIRECTOR 1.00 X 0 0 0 CHARLES MACKAY GENERAL DIRECTOR 40.00 X 443196 0 53921 HEATHER KEMP DIRECTOR OF ACCOUNTING AND FINANCE 40.00 X 125330 0 11340 CAROLE ELY DIRECTOR OF DEVELOPMENT 40.00 X 129546 0 9348 PAUL HORPEDAHL PRODUCTION AND FACILITIES DIRECTOR 40.00 X 137449 0 28531 BRADLEY WOOLBRIGHT DIRECTOR OF ARTISTIC ADMINISTRATION 40.00 X 148986 0 11831 ROBERT MEYA DIRECTOR OF EXTERNAL AFFAIRS 40.00 X 201295 0 8821 TOM MORRIS DIRECTOR OF ADMINISTRATION 40.00 X 107180 0 19756 1292982 0 143548 7 0 1 0 BLUE SKY BUILDERS PO BOX 608 ESPANOLA NM 87532 CONSTRUCTION 617710 BON APPETIT 1600 ST MICHAELS DR SANTA FE NM 87505 FOOD SERVICES 365767 RL LEEDER PO BOX 15147 SANTA FE NM 87506 CONSTRUCTION 340866 SYNCH PO BOX 37278 ALBUQUERQUE NM 87176 ADVERTISING BROKER 151956 SANTA FE AWNING 28 BISBEE COURT UNIT B-7 SANTA FE NM 87508 CONSTRUCTION 141551 9 419370 140600 29294184 2378372 29854154 PERFORMANCE ADMISSIONS 711110 8656616 8656616 AUXILARY OPERATIONS 711110 1232788 1209768 23020 9889404 745854 745854 422490 68695 310377 3502 112113 65193 177306 177306 43567356 70758 37290292 0 6277064 70758 6347822 6347822 125101 419370 112762 12339 12339 319101 289464 29637 8967 20670 ADVERTISING REVENUE 511120 317537 317537 BOX OFFICE SERVICE CHA 711110 244221 244221 SPONSORSHIP REVENUE 611710 143669 143669 79285 16024 63261 784712 47841228 10135596 568157 7283321 X 638419 163537 311345 163537 8095834 5988214 1216220 891400 126605 62796 60260 3549 1013148 694186 199274 119688 680114 501453 106055 72606 23545 23545 86698 86698 15624 15624 84017 84017 2282100 2136349 125109 20642 528135 443620 58694 25821 883708 558889 111731 213088 216572 130043 73774 12755 159077 159077 1086151 678241 407910 2169490 2009458 116102 43930 56635 23155 33480 1598272 582529 1015743 120613 24021 96592 INCOME TAX 59761 59761 COSTUMES, SCENERY, PROP 1123035 1123035 ENTERTAINMENT AND CULTI 566868 88115 14021 464732 AUXILIARY EXPENSE 373074 373074 322162 256104 51992 14066 22309657 15995896 4252323 2061438 3897313 9425336 9451347 18856611 910938 366571 65139 60585 549286 977380 57317443 20919462 34643966 36397981 36512157 43393429 7587048 7919648 1574764 454764 95191958 117852305 1145930 1815561 1031390 1280685 332408 304281 2509728 3400527 X 39190229 48632093 12288160 24206529 41203841 41613156 92682230 114451778 95191958 117852305 X 25531571 -3765422 3399 X 0 1 X 1 0 X 11969165 9603478 13652924 6717921 29854154 71797642 11969165 9603478 13652924 6717921 29854154 71797642 21785512 50012130 1400570 1201163 1312863 1286082 1237039 6437717 31106 29215 44093 110203 140988 355605 78590964 48277068 0.63640 X 0.74530 0.06400 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 15624 0 0 15624 0 PART II-B, LINE 1: THE OPERA HOSTED SPOUSES OF STATE AND LOCAL LEGISLATORS AT A LUNCHEON ON THE OPERA GROUNDS. THE PURPOSE OF THE EVENT WAS TO INTRODUCE LEGISLATORS AND THEIR FAMILIES, PARTICULARLY THOSE FROM OTHER AREAS OF THE STATE, TO THE OPERA AND ITS MISSION AND PROGRAMS. THE OPERA ALSO HOSTED LEGISLATORS AT A BUFFET DINNER PRIOR TO A DRESS REHEARSAL OF CARMEN. A STUDENT PARTICIPATING IN THE OPERA'S YOUNG VOICES PROGRAM PERFORMED AND MADE A PRESENTATION TO THE GROUP ON HER EXPERIENCE WITH THE OPERA. THE LEGISLATORS ALSO ATTENDED THE DRESS REHEARSAL. THE PURPOSE OF THE EVENT WAS TO INTRODUCE LEGISLATORS TO THE OPERA AND ITS MISSIONS AND PROGRAMS. LEGISLATORS ARE ALSO INVITED TO COMMUNITY ENGAGEMENT PROGRAMS, SUCH AS CONCERTS AND THE SPRING OPERA TOUR, HELD IN THEIR RESPECTIVE DISTRICTS. 51483646 486167 3160754 1952205 53178362 47926524 615209 4616205 1674292 51483646 43425684 1386307 4731223 1616690 47926524 44743815 1639451 -986696 1970886 43425684 38213883 1588987 2804763 2308655 40298978 0.10900 0.76200 0.12900 0 0 5348930 5348930 47101340 17648818 29452522 4867173 3270644 1596529 36397981 WEATHERLOW MARKETABLE ALTERNATIVES 6801404 F TIFF REAL ESTATE 1118244 F 7919648 ANNUITIES PAYABLE 304281 304281 X 44624833 -3765422 43364 603240 -3118818 47743651 97577 97577 47841228 22855285 43364 599841 643205 22212080 97577 97577 22309657 PART V, LINE 4: TO PRODUCE A RELATIVELY PREDICTABLE AND STABLE INCOME STREAM TO GROW AND TO SUPPORT PRESENT AND FUTURE PROGRAMS. PART X, LINE 2: THE OPERA HAS ADOPTED THE PROVISIONS OF ASC 740-10,ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ON JANUARY 1, 2009, WHICH HAD NO FINANCIAL STATEMENT IMPACT TO THE OPERA. THE OPERA RECOGNIZES THE TAX BENEFIT FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. ANY SUCH TAX BENEFIT IS MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE OPERA HAD NO UNRECOGNIZED TAX BENEFITS WHICH WOULD REQUIRE AN ADJUSTMENT TO THE OCTOBER 1, 2010, BEGINNING BALANCE OF NET ASSETS AND HAD NO UNRECOGNIZED TAX BENEFITS AT SEPTEMBER 30, 2014 OR 2013. THE OPERA FILES AN EXEMPT ORGANIZATION RETURN WITH THE INTERNAL REVENUE SERVICE (IRS). IT IS NOT A "PRIVATE FOUNDATION" FOR TAX PURPOSES. THE OPERA HAD MINIMAL TAXABLE UNRELATED BUSINESS INCOME FOR THE YEARS ENDED SEPTEMBER 30, 2014 AND 2013. ACCORDINGLY, A PROVISION FOR INCOME TAXES HAS NOT BEEN ESTABLISHED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE OPERA IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE IRS FOR TAX YEARS THROUGH SEPTEMBER 30, 2010. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST 3,399. RENTAL EXPENSE 310,377. COST OF GOODS SOLD INVENTORY 289,464. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 310,377. COST OF GOODS SOLD INVENTORY 289,464. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 6801404 0 0 0 0 0 0 6801404 0 6801404 0 0 0 0 0 0 GALA 332314 291064 41250 11286 15455 3955 HOLIDAY PARTY 84175 67015 17160 20524 7771 2242 2 127982 61291 66691 45199 6330 544471 419370 125101 77009 23226 12527 112762 12339 X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 CHARLES MACKAY GENERAL DIRECTOR 322802 0 50000 0 70394 0 45100 0 8821 0 497117 0 0 0 PAUL HORPEDAHL PRODUCTION AND FACILITIES DIRECTOR 137000 0 0 0 449 0 2950 0 25581 0 165980 0 0 0 BRADLEY WOOLBRIGHT DIRECTOR OF ARTISTIC ADMINISTRATION 148485 0 0 0 501 0 3010 0 8821 0 160817 0 0 0 ROBERT MEYA DIRECTOR OF EXTERNAL AFFAIRS 179785 0 0 0 21510 0 0 0 8821 0 210116 0 0 0 PART I, LINE 1A THE SANTA FE OPERA OWNS A RESIDENCE IMMEDIATELY ADJACENT TO THE OPERA'S FACILITIES. THE CLOSE PROXIMITY OF THE RESIDENCE AND THE GENERAL DIRECTOR'S LIVING THEREIN HAVE IMPORTANT BENEFITS FOR THE OPERA. THE GENERAL DIRECTOR IS THEREBY AVAILABLE ON SHORT NOTICE FOR IMPORTANT BUSINESS ON THE OPERA GROUNDS AS WELL AS IS ABLE TO ENTERTAIN AND MEET WITH THE OPERA'S GUESTS, ARTISTIC PARTNERS AND STAFF. THE GENERAL DIRECTOR, AS A CONDITION OF EMPLOYMENT, IS REQUIRED BY THE OPERA TO RESIDE IN THE GENERAL DIRECTOR'S RESIDENCE. THE SANTA FE OPERA REPORTS TO THE INTERNAL REVENUE SERVICE AS COMPENSATION TO THE GENERAL DIRECTOR ADDITIONAL TAXABLE INCOME FOR THE FAIR MARKET RENTAL VALUE AND UTILITY COSTS OF THE PREMISES. THE OPERA HAS AGREED TO REIMBURSE THE GENERAL DIRECTOR FOR ANY OUT-OF-POCKET COSTS INCURRED DURING THE USE OF THE GENERAL DIRECTOR'S RESIDENCE FOR OPERA BUSINESS. DETAILED RECORDS ARE REQUIRED TO BE MAINTAINED OF THE OPERA'S OFFICIAL USE OF THE RESIDENCE AND SUBMITTED TO THE PRESIDENT AND THE DIRECTOR OF FINANCE AND ACCOUNTING. THE TAX INDEMNIFICATION AND GROSS UP PAYMENTS REPRESENT THE TAX PAID BY THE OPERA, AND INCLUDED IN CHARLES MACKAY'S W-2, TO COVER THE TAX ON THE HOUSING ALLOWANCE. PART I, LINE 4B CHARLES MACKAY- THE OPERA CONTRIBUTED $16,000 TO A 457(B) PLAN AND $40,000 TO A 457(F) PLAN FOR THE BENEFIT OF THE GENERAL DIRECTOR DURING 2013. THE 457(F) PLAN VESTS ONLY IF THE GENERAL DIRECTOR REMAINS EMPLOYED BY THE OPERA IN JANUARY 2016. PART I, LINE 7 $50,000 BONUS TO GENERAL DIRECTOR CHARLES MCKAY FOR MEETING ORGANIZATIONAL GOALS X 29 1451489 MARKET QUOTES X 2 840750 APPRAISAL X MUSICAL INSTR 1 44961 APPRAISAL X PARTY EXPENSE 9 21675 FAIR VALUE X COSTUMES/ PRO 61 13012 FAIR VALUE X FURNITURE 1 6485 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 ALL REGULAR MEMBERS OF THE BOARD (EXCLUDING HONORARY MEMBERS, DIRECTORS EMERITUS, AND EX-OFFICIO MEMBERS WHO HAVE NO VOTING RIGHTS) HAVE THE SAME VOTING RIGHTS. IN BETWEEN QUARTERLY BOARD MEETINGS, THE EXECUTIVE COMMITTEE OF THE BOARD IS VESTED WITH THE POWER OF THE BOARD OF DIRECTORS WITH THE FOLLOWING EXCEPTIONS: THE POWER TO DISSOLVE OR MERGE THE OPERA WITH ANOTHER ORGANIZATION, THE POWER TO CHANGE THE NAME OF THE OPERA, THE POWER TO CHANGE THE BYLAWS OF THE OPERA, THE POWER TO DELEGATE ITS AUTHORITY, THE POWER TO REMOVE THE GENERAL DIRECTOR OR ANY OTHER DIRECTOR, AND THE POWER TO SELL REAL PROPERTY VALUED OVER $1 MILLION. FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF DIRECTORS OF THE SANTA FE OPERA HAS APPROVED A RESOLUTION APPROVING A PROCESS BY WHICH THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FULL VERSION OF THE FORM 990 INCLUDING ALL SCHEDULES AS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. AFTER REVIEW AND ANY CHANGES BY THE AUDIT COMMITTEE, THE DRAFT PUBLIC DISCLOSURE VERSION OF THE FORM 990, EXCLUDING SCHEDULE B (SCHEDULE OF CONTRIBUTORS), IS SENT ELECTRONICALLY OR BY PRIORITY MAIL TO ALL MEMBERS OF THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENT BEFORE IT IS FILED WITH THE IRS. THE SCHEDULE B TO THE FORM 990 IS NOT REVIEWED BY THE BOARD DUE TO THE CONFIDENTIAL AND PRIVATE NATURE OF ITS DONOR LIST. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS OF THE SANTA FE OPERA ARE ASKED EACH YEAR TO SIGN CONFLICT OF INTEREST DISCLOSURE STATEMENTS AND TO SUBMIT THESE SIGNED STATEMENTS TO THE SECRETARY OF THE BOARD OF DIRECTORS. BY SIGNING THE ANNUAL DISCLOSURE STATEMENTS, EACH DIRECTOR UNDERTAKES TO NOTIFY THE PRESIDENT OF THE OPERA OF ANY MATERIAL CHANGES THAT MIGHT RESULT IN A CONFLICT OF INTEREST. THE PRESIDENT REVIEWS THE SIGNED DISCLOSURE STATEMENTS FOR CONFLICTS AND, WITH THE ASSISTANCE OF COMMITTEE CHAIRS, MONITORS COMPLIANCE WITH THE POLICY AT MEETINGS OF THE BOARD AND COMMITTEES CONSIDERING TRANSACTIONS OR ARRANGEMENTS THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST. THE SIGNED CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE MAINTAINED AT THE OFFICES OF THE SANTA FE OPERA. COMPLIANCE WITH THIS POLICY IS MONITORED BY THE AUDIT COMMITTEE. IF A CONFLICT ARISES, THE PERSON WITH SUCH CONFLICT IS NOT ALLOWED TO VOTE ON THE TRANSACTION. THERE HAVE BEEN NO INCIDENCES OF CONFLICT DURING THE REPORTING PERIOD. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, COMPOSED OF THE PRESIDENT, CHAIRMAN, TREASURER AND TWO ADDITIONAL BOARD MEMBERS APPOINTED BY THE PRESIDENT, ALL OF WHOM ARE UNRELATED TO THE GENERAL DIRECTOR, REVIEWS AND APPROVES COMPENSATION AND OTHER TERMS OF EMPLOYMENT FOR THE GENERAL DIRECTOR. IN CONSIDERING APPROPRIATE COMPENSATION FOR THIS POSITION, THE COMPENSATION COMMITTEE REVIEWS SALARY DATA FOR COMPARABLE POSITIONS AT SIMILAR OPERA COMPANIES. THE COMPENSATION COMMITTEE ALSO CONDUCTS ANNUAL REVIEWS OF THE PERFORMANCE OF THE GENERAL DIRECTOR. MINUTES OF THE COMPENSATION COMMITTEE'S MEETINGS ARE RECORDED AND MAINTAINED AT THE OFFICES OF THE SANTA FE OPERA. COMPENSATION FOR THE DIRECTOR OF ACCOUNTING AND FINANCE IS DETERMINED BY THE GENERAL DIRECTOR. THE GENERAL DIRECTOR TAKES JOB PERFORMANCE AND SALARY DATA FOR COMPARABLE POSITIONS AT OTHER OPERA COMPANIES INTO ACCOUNT WHEN SETTING THE ANNUAL SALARY FOR THE DIRECTOR OF ACCOUNTING AND FINANCE. THE COMPENSATION COMMITTEE REVIEWS THE SALARIES FOR ALL SENIOR EMPLOYEES, COMPARING THE SALARIES TO COMPENSATION FOR SIMILAR POSITIONS AT OTHER OPERA COMPANIES. THIS PROCESS WAS LAST COMPLETED IN 2014. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE MAINTAINED IN THE OFFICES OF THE SANTA FE OPERA. THEY ARE MADE AVAILABLE TO MEMBERS OF THE PUBLIC WHO MAKE WRITTEN REQUESTS FOR THE INFORMATION. FORM 990, PART IX, LINE 11G ARTIST FEES: PROGRAM SERVICE EXPENSES 1,617,145. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,617,145. TEACHING/TEACHING ARTIST FEES: PROGRAM SERVICE EXPENSES 215,426. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 215,426. OTHER CONTRACT LABOR: PROGRAM SERVICE EXPENSES 303,778. MANAGEMENT AND GENERAL EXPENSES 125,109. FUNDRAISING EXPENSES 20,642. TOTAL EXPENSES 449,529. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 3,399.