2014-08-14T17:12:48-05:00 2013-09-30 910189318 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2012-10-01 850131810 THE SANTA FE OPERA SANT 5059865955 PO BOX 2408 SANTA FE NM 87504 HEATHER KEMP 5059865955 2014-08-13 1 PAMELA ALEXANDERSON P01218925 5058787200 2012 2015-11-30 17:44:51Z SUSAN MORRIS PO BOX 2408 SANTA FE NM 87504 24435009 0 X WWW.SANTAFEOPERA.ORG X 1957 NM TO FOSTER AND ENRICH AN UNDERSTANDING AND APPRECIATION OF THE OPERATIC ART FORM. 41 41 649 1256 514670 109203 13652924 6717921 9457784 10355440 1656024 2030463 841028 941778 25607760 20045602 0 0 0 0 9333648 9871669 0 0 1808905 10823672 11044851 20157320 20916520 5450440 -870918 93524964 95191958 2504629 2509728 91020335 92682230 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 14001278 10178326 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 2013 FESTIVAL SEASON, 37 PERFORMANCES OF FIVE OPERAS WERE PERFORMED: JACQUES OFFENBACH'S THE GRAND DUCHESS OF GEROLSTEIN, WOLFGANG MOZART'S THE MARRIAGE OF FIGARO, GIOACHINO ROSSINI'S LA DONNA DEL LAGO, GIUSEPPE VERDI'S LA TRAVIATA, AND THE WORLD PREMIERE OF THEODORE MORRISON'S OSCAR. TWO PERFORMANCES OF APPRENTICE SCENES SHOWCASED MEMBERS OF THE COMPANY'S APPRENTICE PROGRAM FOR SINGERS AND TECHNICIANS. THE TOTAL AUDIENCE WAS 79,968. THE OPERA'S FAMED APPRENTICE PROGRAM OF SINGERS, ONE OF THE NATION'S MOST DISTINGUISHED TRAINING PROGRAMS, ALLOWS 39 ASPIRING YOUNG SINGERS, CHOSEN FROM SOME 900 APPLICANTS, TO DEVELOP THEIR SKILLS BY WORKINGWITH PRINCIPAL ARTISTS, MUSIC TEACHER, AND COACHES. THE APPRENTICE PROGRAM FOR TECHNICIANS PROVIDES EXPERIENCE AND TRAINING FOR SOME 72 YOUNG PEOPLE IN THE ART OF STAGECRAFT. 1140782 502246 THE SANTA FE OPERA'S EDUCATION AND COMMUNITY OUTREACH PROGRAMS OFFER A WIDE SELECTION TO BOTH STUDENTS AND ADULTS. IN 2013, 45,224 INDIVIDUALS WERE SERVED, 32,663 ADULTS AND 12,561 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 AT GREATLY REDUCED PRICES. STUDENTS IN ELEMENTARY AND MIDDLE SCHOOL WHO PARTICIPATE IN THE ARTS INTEGRATION PARTNERSHIP 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 COMMUNITITES 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. 15142060 1 1 0 0 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 1 349 0 1 649 1 1 1 1 CJ 0 0 0 1 1 0 0 0 0 X 41 41 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 MORRIS 5.00 X X 0 0 0 CAREY RAMOS 5.00 X X 0 0 0 PETER FRANK 5.00 X X 0 0 0 ROBERTA COOPER RAMO 5.00 X X 0 0 0 T PETER TOWNSEND 5.00 X X 0 0 0 DR ROBERT ZONE 5.00 X X 0 0 0 JOSEPH BRYAN JR 5.00 X X 0 0 0 JAMES SEITZ JR 5.00 X X 0 0 0 THE HONORABLE PATIRICA MCFATE 5.00 X X 0 0 0 SUSAN GRAF MARINEAU 1.00 X 0 0 0 J BRUCE BUGG JR 1.00 X 0 0 0 BRUCE CHEMEL 1.00 X 0 0 0 PAULINE CUNCANNAN 1.00 X 0 0 0 NANCIE DOMINIC 1.00 X 0 0 0 RICHARD HIGGINS 1.00 X 0 0 0 DAVID INGALLS 1.00 X 0 0 0 PHILIP JELLEY 1.00 X 0 0 0 PLATO KARAYANIS 1.00 X 0 0 0 DR WALTER KIRCHNER 1.00 X 0 0 0 DAVID KLEINFELD 1.00 X 0 0 0 GEORGE SHIRLEY 1.00 X 0 0 0 RICHARD DAVIS 1.00 X 0 0 0 MARYON DAVIES LEWIS 1.00 X 0 0 0 DR RAYMOND LUTZ 1.00 X 0 0 0 NEDRA MATTEUCCI 1.00 X 0 0 0 BARBARA BERRY MIKKELSEN 1.00 X 0 0 0 CHARLES MOORE 1.00 X 0 0 0 DAN NAMINGHA 1.00 X 0 0 0 EH CORRIGAN 1.00 X 0 0 0 DAVID PADILLA 1.00 X 0 0 0 GRETCHEN POMEROY 1.00 X 0 0 0 ANN ROLLEY 1.00 X 0 0 0 FREDERICK SIMON 1.00 X 0 0 0 IRWIN SUGARMAN 1.00 X 0 0 0 ROBERT WEISS 1.00 X 0 0 0 DAN PERRY 1.00 X 0 0 0 FREDERICK HAAS 1.00 X 0 0 0 ANN SHILLING HARRISON 1.00 X 0 0 0 ROBERT TURNER 1.00 X 0 0 0 DANNEHL TWOMEY 1.00 X 0 0 0 DIANNE LOOMIS 1.00 X 0 0 0 DONNA KENDALL 1.00 X 0 0 0 EUGENE STARK JR 1.00 X 0 0 0 C WILLIAM TANZI 1.00 X 0 0 0 CHARLES MACKAY 40.00 X 368196 0 52079 HEATHER KEMP 40.00 X 115001 0 9223 CAROLE ELY 40.00 X 142620 0 10450 PAUL HORPEDAHL 40.00 X 124072 0 20693 BRADLEY WOOLBRIGHT 40.00 X 144570 0 10502 ROBERT MEYA 40.00 X 147664 0 6087 FREDERICK CHASLIN 40.00 X 179808 0 0 1221931 0 109034 7 0 1 0 BLUE SKY BUILDERS PO BOX 608 ESPANOLA NM 87532 CONSTRUCTION 453881 BON APPETIT 1600 ST MICHAELS DR SANTA FE NM 87505 FOOD SERVICES 337197 SYNCH PO BOX 37278 ALBUQUERQUE NM 87176 ADVERTISING BROKER 147859 CPC SOLUTIONS 2800 PRINTERS WAY GRAND JUNCTION CO 81506 PRINTING 141340 COMMUNICATIONS DIVERSIFIED INC PO BOX 26659 ALBUQUERQUE NM 871256659 TELEPHONE SYSTEM INSTALLATION AND PURCHA 110269 6 543467 69822 6104632 439517 6717921 PERFORMANCE ADMISSIONS 711110 8878933 8878933 AUXILARY OPERATIONS 711110 1476507 1476507 10355440 789191 789191 438256 58635 359790 2707 78466 55928 134394 134394 4779426 3538154 1241272 1241272 1241272 175075 543467 207493 -32418 -32418 338762 281263 57499 19550 37949 MISCELLANEOUS REVENUE 711110 305582 305582 ADVERTISING REVENUE 511120 274636 274636 SPONSORSHIP REVENUE 611710 138851 138851 63234 63234 782303 20045602 10680572 514670 2132439 661413 460642 115362 85409 7496694 5275044 1223171 998479 175505 107785 53675 14045 934814 629737 189538 115539 603243 446058 84298 72887 21414 21414 84943 84943 85927 85927 1959447 1828837 96438 34172 553247 469794 55868 27585 723871 556114 114219 53538 265661 157099 91984 16578 320934 320934 966634 560122 406512 1931868 1806839 71087 53942 29074 17887 11187 1451612 490442 961170 306866 135957 170909 INCOME TAX 16490 16490 COSTUMES, SCENERY, PROP 1101661 1101661 ENTERTAINMENT AND CULTI 459876 127493 10247 322136 AUXILIARY EXPENSE 373545 373545 391781 276070 101116 14595 20916520 15142060 3965555 1808905 499 5717679 3897313 11144008 9451347 250329 910938 68387 65139 722217 549286 53888121 19244155 33626836 34643966 30656030 36512157 9392715 7587048 1946264 1574764 93524964 95191958 1047472 1145930 1126931 1031390 330226 332408 2504629 2509728 X 37059442 39190229 12407520 12288160 41553373 41203841 91020335 92682230 93524964 95191958 X -870918 2742515 -209702 X 0 1 X 1 0 X 8512416 11969165 9603478 13652924 6717921 50455904 8142165 8029171 8325564 9920769 10776203 45193872 16654581 19998336 17929042 23573693 17494124 95649776 3515642 1892622 2127263 6680849 4133987 18350363 0 3515642 1892622 2127263 6680849 4133987 18350363 77299413 1441259 1400301 1201163 1312863 1286082 6641668 1441259 1400301 1201163 1312863 1286082 6641668 30571 31106 29215 44093 110203 245188 320332 206523 252650 225726 175075 1180306 18446743 21636266 19412070 25156375 19065484 103716938 0.74530 0.75050 0.06400 0.05700 X SCHEDULE A, PART II, LINE 12, EXPLANATION OF OTHER INCOME: FUNDRAISING INCOME - 2008 AMOUNT: $ 320,332. 2009 AMOUNT: $ 206,523. 2010 AMOUNT: $ 252,650. 2011 AMOUNT: $ 225,726. 2012 AMOUNT: $ 175,075. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 47926524 615209 4616205 1674292 51483646 43425684 1386307 4731223 1616690 47926524 44743815 1639451 -986696 1970886 43425684 38213883 1588987 2804763 2308655 40298978 38241294 1761005 291401 2079817 38213883 0.11000 0.78000 0.11000 0 0 5348930 5348930 44569395 16310498 28258897 3969796 2933657 1036139 34643966 WEATHERLOW MARKETABLE ALTERNATIVES 6319365 F TIFF REAL ESTATE 1267683 F 7587048 ANNUITIES PAYABLE 332408 332408 X 23088612 2742515 18679 431350 3192544 19896068 149534 149534 20045602 21426717 18679 641052 659731 20766986 149534 149534 20916520 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO PRODUCE A REALATIVELY PREDICTABLE AND STABLE INCOME STREAM TO GROW AND TO SUPPORT PRESENT AND FUTURE PROGRAMS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2009 BEGINNING BALANCE OF NET ASSETS AND HAD NO UNRECOGNIZED TAX BENEFITS AT SEPTEMBER 30, 2013 OR 2012. 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, 2013 AND 2012. 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, 2009. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST -209,702. AUXILLARY EXPENSE 152,296. FUNDRAISING EXPENSE 207,493. COGS INVENTORY 281,263. PART XII, LINE 2D - OTHER ADJUSTMENTS: COGS INVENTORY 281,263. AUXILLARY EXPENSES 152,296. FUNDRAISING EXPENSES 207,493. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 6319365 0 0 0 0 0 0 6319365 0 6319365 0 0 0 0 0 0 GALA 495428 441178 54250 57284 15871 18176 HOLIDAY PARTY 67455 29365 38090 15840 3359 21705 2 155659 72924 82735 75258 718542 543467 175075 148382 19230 39881 207493 -32418 X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 CHARLES MACKAY 297802 0 0 0 70394 0 43750 0 8329 0 420275 0 0 0 CAROLE ELY 140642 0 0 0 1978 0 2121 0 8329 0 153070 0 0 0 BRADLEY WOOLBRIGHT 144150 0 0 0 420 0 2173 0 8329 0 155072 0 0 0 ROBERT MEYA 142862 0 0 0 4802 0 0 0 6087 0 153751 0 0 0 FREDERICK CHASLIN 179808 0 0 0 0 0 0 0 0 0 179808 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 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 $40,000 TO A 457(F) PLAN FOR THE BENEFIT OF THE GENERAL DIRECTOR DURING 2012. THE 457(F) PLAN VESTS ONLY IF THE GENERAL DIRECTOR REMAINS EMPLOYED BY THE OPERA IN JANUARY 2016. X 24 347956 MARKET QUOTES X MUSICAL INSTRUMENTS 1 5000 FAIR VALUE X COSTUMES/ PROPERTIES 7 25241 FAIR VALUE X PARTY EXPENSES 14 24415 FAIR VALUE X FURNISHINGS 2 450 FAIR VALUE X AUCTION ITEMS 44 18315 FAIR VALUE X COMPUTER AND SOUND EQUIPMENT 2 3640 FAIR VALUE X SOFTWARE 1 14500 FAIR VALUE 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 THE BOARD OF DIRECTORS OF THE SANTA FE OPERA HAVE 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 SALARIES FOR THE FIVE MOST HIGHLY COMPENSATED POSITIONS AT THE OPERA INCLUDING THE DIRECTOR OF ACCOUNTING AND FINANCE. HE PRESENTS THE INFORMATION TO THE COMPENSATION COMMITTEE OF THE BOARD ON AN ANNUAL BASIS. THIS PROCESS WAS LAST COMPLETED IN 2013. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 1023 AND FORM 990 ARE AVAILABLE UPON REQUEST. 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. MATERIAL DIFFERENCE IN VOTING RIGHTS FORM 990, PART VI, SECTION A, LINE 1A 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -209,702.