2013-04-20T15:30:19-05:00 2012-06-30 952302617 SINGERLEWAK LLP 10960 WILSHIRE BLVD STE 700 LOS ANGELES CA 900243783 990 2011-07-01 952217011 PERFORMING ARTS CENTER OF LOS ANGELES COUNTY PERF 2139727211 135 NORTH GRAND AVENUE LOS ANGELES CA 90012 WILLIAM MEYERCHAK 2139727237 2013-04-15 1 LIOR TEMKIN P00748170 3104773924 2013-04-15 2011 2016-03-07 17:11:31Z WILLIAM MEYERCHAK 135 NORTH GRAND AVENUE LOS ANGELES CA 90012 46090709 0 X WWW.MUSICCENTER.ORG X 1961 CA SEE SCHEDULE OA LEADER AT THE CULTURAL HEART OF LOS ANGELES COUNTY, THE PERFORMING ARTS CENTER OF LOS ANGELES COUNTY BRINGS TO LIFE ONE OF THE WORLD'S PREMIER ARTS DESTINATIONS BY CREATING OPPORTUNITIES FOR ARTS PARTICIPATION, ENABLING COMPELLING PROGRAMMING AND PROVIDING FIRST CLASS FACILITIES AND SERVICES. 56 55 1117 542 102770 0 10735450 9052864 32233665 33186242 1134953 1420818 1568616 1810392 45672684 45470316 2061805 959209 0 0 22299651 23929421 0 0 2893473 22784276 22203172 47145732 47091802 -1473048 -1621486 89251824 84751805 41939235 44032364 47312589 40719441 X A LEADER AT THE CULTURAL HEART OF LOS ANGELES COUNTY, THE PERFORMING ARTS CENTER OF LOS ANGELES COUNTY BRINGS TO LIFE ONE OF THE WORLD'S PREMIER ARTS DESTINATIONS BY CREATING OPPORTUNITIES FOR ARTS PARTICIPATION, ENABLING COMPELLING PROGRAMMING AND PROVIDING FIRST CLASS FACILITIES AND SERVICES. 0 0 24530121 27209203 CENTER OPERATIONSTHE MUSIC CENTER CAMPUS IS COMPRISED OF FOUR VENUES: WALT DISNEY CONCERT HALL, DOROTHY CHANDLER PAVILION, AHMANSON THEATRE AND MARK TAPER FORUM AS WELL AS OUTDOOR THEATERS, PLAZAS AND GARDENS AND IS HOME TO FOUR INTERNATIONALLY ACCLAIMED RESIDENT COMPANIES: THE LOS ANGELES PHILHARMONIC, CENTER THEATRE GROUP, LOS ANGELES OPERA AND LOS ANGELES MASTER CHORALE. EVERY YEAR, ALMOST 2 MILLION PEOPLE VISIT THE CENTER. THE PERFORMING ARTS CENTER OF LOS ANGELES COUNTY (PACLAC) MANAGES THE CENTER ON BEHALF OF THE COUNTY OF LOS ANGELES, WHICH OWNS THE FACILITIES. PACLAC PROVIDES FACILITY OPERATIONS, STAGE OPERATIONS, AND THEATER OPERATIONS TO ITS RESIDENT COMPANIES AND IS RESPONSIBLE FOR IMPROVEMENTS TO AND MAINTENANCE OF THE FACILITIES. 13126712 959209 4935820 EDUCATION AND OUTREACHPACLAC PLAYS A VITAL LEADERSHIP ROLE IN RESTORING THE ARTS TO THE CORE CURRICULUM IN ALL K-12 SCHOOLS IN LOS ANGELES COUNTY AND ITS EDUCATIONAL PROGRAMS ARE BUILT AROUND THE UNIQUE ROLE AND EXPERTISE OF THE PROFESSIONAL ARTIST. MILLIONS OF STUDENTS HAVE PARTICIPATED IN MUSIC CENTER ARTS EDUCATION PROGRAMS SINCE THEIR INCEPTION IN 1979. IN 2011-12, OUR EDUCATIONAL PROGRAMS SERVED OVER 75 SCHOOLS, TOTALING OVER 61,000 STUDENTS.THE MUSIC CENTER BRAVO AWARDS PROGRAM RECOGNIZES TEACHERS AND SCHOOLS FOR INNOVATION AND EXCELLENCE IN ARTS EDUCATION.SEE SCHEDULE O FOR CONTINUATIONPACLAC PRODUCES A WIDE RANGE OF FREE ARTS PROGRAMMING FOR CHILDREN AND FAMILIES INCLUDING WORLD CITY, STUDENT MATINEES OF GLORYA KAUFMAN PRESENTS DANCE AT THE MUSIC CENTER ENGAGEMENTS, THE BLUE RIBBON CHILDREN'S FESTIVAL AND THE VERY SPECIAL ARTS FESTIVAL. IN 2011-12, ESTIMATED ATTENDANCE FOR ALL PUBLIC PROGRAMS IS 30,000.THE MUSIC CENTER SPOTLIGHT AWARDS PROGRAM IS A NATIONALLY-ACCLAIMED RECOGNITION AND SCHOLARSHIP PROGRAM FOR SOUTHERN CALIFORNIA HIGH SCHOOL PERFORMING AND VISUAL ARTISTS. OVER 2,300 HIGH SCHOOL STUDENTS PARTICIPATE IN SPOTLIGHT AND OVER $90,000 IN SCHOLARSHIPS ARE AWARDED EACH YEAR. GLORYA KAUFMAN PRESENTS DANCE AT THE MUSIC CENTER (KDMC) HAS BECOME ONE OF THE PREMIER PRESENTERS OF DANCE IN SOUTHERN CALIFORNIA, CONSISTENTLY FEATURING THE WORLD'S MOST ILLUSTRIOUS DANCE COMPANIES. THE PROGRAM PROVIDES LEARNING OPPORTUNITIES AT THE CENTER AND THROUGHOUT THE COUNTY FOR ADULTS AND CHILDREN AS WELL AS FREE AND LOW-COST TICKETS, OPEN REHEARSALS, PRE- AND POST-PERFORMANCE TALKS, SCHOOL LECTURES AND DEMONSTRATIONS, AND COMMUNITY CLASSES WITH VISITING ARTISTS. IN 2011-12, OVER 67,000 PEOPLE ATTENDED KDMC PRESENTATIONS AND COMMUNITY PROGRAMS.ACTIVE ARTS AT THE MUSIC CENTER HAS BECOME A NATIONAL MODEL FOR CIVIC ENGAGEMENT VIA ARTS PARTICIPATION. RECREATIONAL ARTISTS OF ALL SKILL LEVELS PARTICIPATE THROUGH YEAR-ROUND, LOW-COST OR FREE EVENTS. THE MUSIC CENTER PUBLIC SPACES ARE ACTIVATED WITH CREATIVITY, SOCIAL INTERCHANGE AND CULTURAL DIVERSITY. IN 2011-12, ACTIVE ARTS SERVED CLOSE TO 10,800 PARTICIPANTS IN OVER 68 EVENTS, PROGRAMS, CLASSES AND WORKSHOPS. 3027951 3262209 CAPITAL IMPROVEMENTS AND LONG TERM SUPPORTUNDER THE TERMS OF A SUBLEASE AGREEMENT WITH THE COUNTY OF LOS ANGELES, PACLAC TRANSFERS TITLE OF LEASEHOLD AND OTHER CAPITAL IMPROVEMENTS UPON PURCHASE TO THE COUNTY OF LOS ANGELES. PACLAC EXPENSES THESE PURCHASES AS THEY ARE INCURRED. CAPITAL EXPENSE IN 2011-12 CONSISTED OF DEBT SERVICE RELATED TO THE MARK TAPER FORUM RENOVATION, AMORTIZATION OF CONTRACT ACQUISITION COSTS, AND CAPITAL IMPROVEMENTS ACROSS THE MUSIC CENTER CAMPUS. 40684784 1 1 0 1 0 0 0 1 0 0 1 1 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 268 0 1 1117 1 1 1 0 0 0 0 1 1 0 0 0 0 X 56 55 1 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 CA X X X WILLIAM MEYERCHAK 2139727237 135 NORTH GRAND AVENUE LOS ANGELES CA 900123013 ROBERT J ABERNETHY 1.00 X 0 0 0 WALLIS ANNENBERG 1.00 X 0 0 0 JUDITH BECKMEN 1.00 X X 0 0 0 COLLEEN BELL 1.00 X 0 0 0 DAVID BOHNETT 1.00 X 0 0 0 LOUISE HENRY BRYSON 1.00 X 0 0 0 FUNG DER 1.00 X 0 0 0 CRAIG A ELLIS 1.00 X 0 0 0 JOHN C ERICKSON 1.00 X 0 0 0 MARK FOSTER 1.00 X 0 0 0 CONSTANCE TOWERS GAVIN 1.00 X 0 0 0 LESLIE K GILBERT-LURIE 1.00 X 0 0 0 BRINDELL GOTTLIEB 1.00 X 0 0 0 BERNARD A GREENBERG 1.00 X 0 0 0 WILLIAM HAGELSTEIN 1.00 X 0 0 0 DENNIS HAYSBERT 1.00 X 0 0 0 STEPHEN F HINCHLIFFEJR 1.00 X 0 0 0 AMB GLEN A HOLDEN 1.00 X 0 0 0 JANE JELENKO 1.00 X 0 0 0 CAROLBETH KORN 1.00 X 0 0 0 AMB LESTER B KORN 1.00 X 0 0 0 JOYCE KRESA 1.00 X 0 0 0 KENT KRESA 1.00 X X 0 0 0 MICHAEL A LAWSON 1.00 X 0 0 0 NIGEL LYTHGOE 1.00 X 0 0 0 GINNY MANCINI 1.00 X 0 0 0 MARTIN MASSMAN 1.00 X 0 0 0 PATRICK MCCABE 1.00 X 0 0 0 BOWEN BUZZ MCCOY 1.00 X 0 0 0 MATTIE MCFADDEN LAWSON 1.00 X 0 0 0 ELIZABETH MICHELSON 1.00 X 0 0 0 CINDY MISCIKOWSKI 1.00 X 0 0 0 SHELBY NOTKIN 1.00 X 0 0 0 MICHAEL PAGANO 1.00 X X 0 0 0 KURT C PETERSON 1.00 X 0 0 0 KAREN KAY PLATT 1.00 X X 0 0 0 BENNETT POZIL 1.00 X 0 0 0 MAX RAMBERG 1.00 X 0 0 0 RICHARD K ROEDER 1.00 X 0 0 0 THOMAS L SAFRAN 1.00 X 0 0 0 JOHN A SCHULMAN 1.00 X 0 0 0 BOB SILVERSTEIN 1.00 X 0 0 0 JONI J SMITH 1.00 X 0 0 0 LISA SPECHT 1.00 X X 0 0 0 MARC I STERN 1.00 X 0 0 0 JULIA STEWART 1.00 X 0 0 0 DR CYNTHIA A TELLES 1.00 X 0 0 0 JAMES A THOMAS 1.00 X 0 0 0 FRANKLIN E ULF 1.00 X 0 0 0 WALTER F ULLOA 1.00 X 0 0 0 BERT VALDMAN 1.00 X 0 0 0 TIMOTHY WAHL 1.00 X 0 0 0 SUSAN WEGLEITNER 1.00 X 0 0 0 THOMAS R WEINBERGER 1.00 X X 0 0 0 ALYCE WILLIAMSON 1.00 X 0 0 0 ROSALIND W WYMAN 1.00 X 0 0 0 DAVID J ZUERCHER 1.00 X 0 0 0 STEPHEN D ROUNTREE 35.00 X X 972274 0 102312 WILLIAM G MEYERCHAK 35.00 X 229906 0 83316 HOWARD SHERMAN 35.00 X 303791 0 45178 MICHELLE CLARK 35.00 X 245240 0 18547 JUDY SMITH 35.00 X 178821 0 19729 KEITH MCTAGUE 40.00 X 173941 0 27335 MARK SLAVKIN 35.00 X 166506 0 26119 LISA WHITNEY 35.00 X 155882 0 30866 GARY EARL 53.00 X 155880 0 38871 2582241 0 392273 35 0 1 0 SODEXHO INC & AFFILIATES PO BOX 43283 LOS ANGELES CA 90088 HOUSEKEEPING 1572380 THE PATINA GROUP 1150 SOUTH OLIVE STREET SUITE TG25 LOS ANGELES CA 90015 CATERING 1276370 MATT CONSTRUCTION 9814 NORWALK BLVD 100 SANTA FE SPRINGS CA 90670 CONSTRUCTION 1021338 ALVIN AILEY AMERICAN DANCE FOUNDATION 405 W 55TH STREET NEW YORK NY 10019 DANCE COMPANY 554978 BALLET THEATRE FOUNDATION INC 890 BROADWAY 3RD FL NEW YORK NY 10003 DANCE COMPANY 453397 37 353188 64515 8635161 163516 9052864 REIMB. BY LA COUNTY 900099 16461806 16461806 EDUCATION & OUTREACH 900099 4933019 4933019 FACILITY FEES 900099 4705620 4705620 REIMB. BY SUBLICENSEES 900099 4269627 4269627 THEATER RENTS 900099 2740573 2740573 75597 45597 30000 33186242 1419432 1419432 172 172 2801 2801 428617 72770 0 0 428617 72770 501387 428617 72770 160477 5010 163516 757 -3039 4253 1214 1214 43550 353188 456120 -412570 -412570 RESTAURANT & CATERING 900099 1633144 1633144 CONCESSIONS 900099 53112 53112 OTHER INCOME 900099 32518 30545 1973 1718774 45470316 35301660 102770 1013022 852609 852609 106600 106600 1818955 334418 1093307 391230 17463751 14903969 1102590 1457192 963411 877714 42237 43460 2098545 1849964 111435 137146 1584759 1346154 110634 127971 343918 98420 245498 106485 106485 1470571 1197277 192343 80951 812426 808005 60 4361 1400780 868392 233119 299269 117164 99988 10804 6372 1401 1401 26507 26507 317800 300858 9587 7355 114504 23408 79459 11637 1278801 1274620 241 3940 1253112 1195626 29678 27808 987483 919495 67988 MAINTENANCE 6885340 6823321 42267 19752 PRODUCTION - ARTIST FEE 2857919 2855752 0 2167 CAPITAL EQUIPMENT PURCH 2187358 2187358 0 0 FOOD & BEVERAGE, CATERI 1192112 953144 13739 225229 849491 779784 22074 47633 47091802 40684784 3513545 2893473 15306 23282 6320122 4390004 19329931 17745602 3844589 4757836 750847 623980 3491757 2567129 298791 924628 3888417 4104202 20176985 19226420 34626836 32955851 89251824 84751805 3863452 8072159 9791933 7596590 26916182 26534689 1367668 1828926 41939235 44032364 X -2803885 -6201008 17145002 14318859 32971472 32601590 47312589 40719441 89251824 84751805 X -1621486 -4971662 X X 0 1 1 X 0 X 18210939 27920537 9840393 10735450 9052864 75760183 5173536 5471783 5170898 4914440 5145023 25875680 23384475 33392320 15011291 15649890 14197887 101635863 2816937 98818926 2709635 1733994 1800518 1573550 1851022 9668719 -45580 35000 102770 92190 2131066 2029601 1759097 1657619 1716801 9294184 120690956 161640587 0.81880 0.84880 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME RESTAURANT & CATERING CONCESSIONS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 1 100 1 270 0 1 1440 0 0 1810 0 X 0 37700 37700 0 2950494 2078416 872078 503563 451013 52550 924628 UNITIZED FUND OF INVESTMENTS OPERATED BY MUSIC CENTER FOUNDATION 19226420 F 19226420 BENEFICIAL INTEREST IN TRUST 24757711 CONTRACT ACQUISITION COSTS 8190170 AGENCY ASSETS 7970 32955851 DUE TO RESIDENT COMPANIES 781151 DEPOSITS 197702 CAPITAL LEASE OBLIGATIONS 743333 BOND INTEREST PAYABLE 106740 1828926 45470316 47091802 -1621486 -1091169 -3880493 -4971662 -6593148 48778865 -1091169 5145023 4053854 44725011 745305 745305 45470316 52236825 5145023 5145023 47091802 0 47091802 PART III, LINE 1A: IN CONFORMITY WITH THE PRACTICE FOLLOWED BY MANY CULTURAL INSTITUTIONS, ART OBJECTS PURCHASED BY OR DONATED TO PACLAC ARE NOT INCLUDED IN THE STATEMENTS OF FINANCIAL POSITION. PACLAC'S COLLECTION CONSISTS OF ART OBJECTS THAT ARE ON EXHIBITION. EACH OF THE ITEMS IS CATALOGUED, PRESERVED AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED REGULARLY. PURCHASED COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED OR IN TEMPORARILY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS; CONTRIBUTED COLLECTION ITEMS ARE EXCLUDED FROM THE FINANCIAL STATEMENTS. ITEMS IN COLLECTION INCLUDE: PAINTINGS, PRINTS, SCULPTURES, FURNITURE, MUSICAL ITEMS AND TEXTILES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: PACLAC IS A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 23701(D) OF THE REVENUE AND TAXATION CODE OF CALIFORNIA. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. PACLAC HAS ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION TOPIC NO. 740, INCOME TAXES ("ASC 740"), FORMERLY FASB INTERPRETATION NO. 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, AN INTERPRETATION OF FASB STATEMENT NO. 109. ASC 740 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. ASC 740 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. ASC 740 REQUIRES THAT AN ORGANIZATION RECOGNIZE IN THE FINANCIAL STATEMENTS THE IMPACT OF THE TAX POSITION IF THAT POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. AS OF AND FOR THE YEAR ENDED JUNE 30, 2012, PACLAC HAD NO MATERIAL UNRECOGNIZED/DERECOGNIZED TAX BENEFITS OR TAX PENALTIES OR INTEREST. THE FEDERAL INCOME TAX RETURNS OF PACLAC STILL OPEN AND SUBJECT TO IRS EXAMINATION ARE FOR THE 2009 THROUGH 2012 TAX YEARS. THE STATE OF CALIFORNIA INCOME TAX RETURNS STILL OPEN AND SUBJECT TO EXAMINATION ARE FOR THE 2008 THROUGH 2012 TAX YEARS. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTERESTS -745,305. SFAS 158 COMPREHENSIVE LOSS RELATED TO PENSION OBLIGATION -3,135,188. TOTAL TO SCHEDULE D, PART XI, LINE 8: -3,880,493. PART XII, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTERESTS 745,305. X X X X X X X 0 CA ONLINE AUCTION 30438 30438 3829 BLUE RIBBON FUNDRAISER 366300 322750 43550 15955 80679 95314 260343 396738 353188 43550 15955 80679 95314 264172 456120 -412570 1 LOS ANGELES MASTER CHORALE 135 NORTH GRAND AVE LOS ANGELES CA 90012 952315682 501(C) 3 112486 CASH GRANTS N/A GENERAL OPERATING ASSISTANCE LOS ANGELES OPERA COMPANY 135 NORTH GRAND AVE LOS ANGELES CA 90012 952096402 501(C) 3 222888 CASH GRANTS N/A GENERAL OPERATING ASSISTANCE LOS ANGELES PHILHARMONIC ASSOCIATION 151 SOUTH GRAND AVE LOS ANGELES CA 90012 951696734 501(C) 3 223388 CASH GRANTS N/A GENERAL OPERATING ASSISTANCE CENTER THEATRE GROUP 135 NORTH GRAND AVE LOS ANGELES CA 90012 952466183 501(C) 3 283847 CASH GRANTS N/A GENERAL OPERATING ASSISTANCE MILLIKAN PERFORMING ARTS MAGNET 5041 SUNNYSLOPE AVE SHERMAN OAKS CA 91423 956001908 LAUSD 10000 CASH GRANTS N/A AWARD FOR EXEMPLARY EDUCATION IN THE ARTS 4 1 SPOTLIGHT AWARDS - AWARDS AND SCHOLARSHIPS FOR HIGH SCHOOL PERFORMING AND VISUAL ARTISTS. 117 94600 CASH AWARDS BRAVO AWARDS - AWARDS FOR TEACHERS FOR EXEMPLARY EDUCATION IN THE ARTS. 21 12000 CASH AWARDS PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: WE REGULARLY REVIEW THE FINANCIAL STATEMENTS OF OUR RESIDENT COMPANIES. X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 STEPHEN D ROUNTREE 565760 0 115000 0 291514 0 42092 0 60220 0 1074586 0 100000 0 WILLIAM G MEYERCHAK 207144 0 0 0 22762 0 65258 0 18058 0 313222 0 0 0 HOWARD SHERMAN 287201 0 0 0 16590 0 38475 0 6703 0 348969 0 0 0 MICHELLE CLARK 96650 0 0 0 148590 0 16954 0 1593 0 263787 0 0 0 JUDY SMITH 155585 0 0 0 23236 0 6289 0 13440 0 198550 0 0 0 KEITH MCTAGUE 173941 0 0 0 0 0 0 0 27335 0 201276 0 0 0 MARK SLAVKIN 157876 0 0 0 8630 0 22399 0 3720 0 192625 0 0 0 LISA WHITNEY 139787 0 0 0 16095 0 20734 0 10132 0 186748 0 0 0 GARY EARL 138911 0 0 0 16969 0 0 0 38871 0 194751 0 0 0 PART I, LINE 4A PER CONFIDENTIALITY AGREEMENT SIGNED BY THE ORGANIZATION, THE SEVERANCE PACKAGE PAID TO AN EMPLOYEE IS NOT OPEN FOR PUBLIC INSPECTION. CA INFRASTRUCTURE & ECONOMIC DEVELOPMENT BANK 630304653 13033WA37 2007-05-23 28473809 RENOVATION OF MARK TAPER FORUM 0 0 0 1095000 29531776 1711508 1938956 554390 25197464 129458 2008 0 0 1 1 0 1 1 1 0 0.00200 0.00200 1 0 0 0 NA 0 0 1 TRINITY FDG CO & DEPFA BANK (SCH O) 1 0 1 X SCHEDULE K, PART I, COLUMN E: TOTAL PROCEEDS IN PART I, COLUMN E DIFFERS FROM THE ISSUE PRICE LISTED IN PART II, LINE 3 BECAUSE LINE 3 INCLUDES $1,057,808.71 OF INTEREST EARNINGS ON THE BOND PROCEEDS. SCHEDULE K, PART IV, LINE 4C TERM OF GIC 1.10 AND 1.30 YEAR X 16 163516 AVG. ON DATE DONATED 0 1 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES A THIRD PARTY BROKER TO SELL STOCK CONTRIBUTIONS UPON RECEIPT. FORM 990, PART VI, SECTION A, LINE 2 AMBASSADOR LESTER KORN IS MARRIED TO CAROLBETH KORN (BOARD MEMBERS). MICHAEL A. LAWSON IS MARRIED TO MATTIE MCFADDEN-LAWSON (BOARD MEMBERS). KENT KRESA IS MARRIED TO JOYCE KRESA (BOARD MEMBERS). FORM 990, PART VI, SECTION B, LINE 11 THE BOARD HAS DELEGATED THE AUTHORITY TO THE AUDIT COMMITTEE TO REVIEW AND APPROVE THE FORM 990. ONCE APPROVED IT IS MADE AVAILABLE TO THE REMAINDER OF THE BOARD PRIOR TO THE FORM BEING ELECTRONICALLY FILED. SCHEDULE B IS EXCLUDED FROM THE COPIES PROVIDED TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISCLOSURES ARE REQUIRED FOR OFFICERS, DIRECTORS, AND KEY EMPLOYEES. DISCLOSURES FOR DIRECTORS ARE SUMMARIZED AND REVIEWED BY THE CHAIRMAN OF THE BOARD. DISCLOSURES FOR OFFICERS AND KEY EMPLOYEES ARE REVIEWED BY THE CHIEF FINANCIAL OFFICER. IF A CONFLICT EXISTS AT THE DIRECTOR LEVEL, THE DIRECTOR IS PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION. IF POTENTIAL CONFLICTS ARISE AT THE OFFICER OR KEY EMPLOYEE LEVEL, THE TRANSACTION WOULD BE REVIEWED BY LEGAL COUNSEL AND THE RELEVANT BOARD COMMITTEE TO DETERMINE RESTRICTIONS. FORM 990, PART VI, SECTION B, LINE 15 PURSUANT TO THE BYLAWS, THE EXECUTIVE COMMITTEE IS AUTHORIZED TO DETERMINE THE COMPENSATION OF THE PRESIDENT. AFTER A THOROUGH REVIEW OF HIS PERFORMANCE, COMPENSATION OF EXECUTIVES AT OTHER ARTS ORGANIZATIONS, AND OTHER FACTORS, THE COMMITTEE APPROVES THE CEO'S COMPENSATION. THE CEO AND THE HR COMMITTEE REVIEW AND APPROVE THE COMPENSATION OF OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, INFORMATIONAL RETURNS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -1,091,169. CHANGE IN VALUE OF BENEFICIAL INTERESTS -745,305. SFAS 158 COMPREHENSIVE LOSS RELATED TO PENSION OBLIGATION -3,135,188. TOTAL TO FORM 990, PART XI, LINE 5: -4,971,662. FORM 990, PART XI, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT. THE MUSIC CENTER OF LOS ANGELES COUNTY INC 135 NORTH GRAND AVENUE LOS ANGELES CA 90012 954859278 INACTIVE CA N/A C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 THE MUSIC CENTER OF LOS ANGELES COUNTY INC