2013-05-13T14:04:39-05:00 2012-06-30 420714325 MCGLADREY LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2011-07-01 132584273 ALVIN AILEY DANCE FOUNDATION INC ALVI 2124059000 405 WEST 55TH STREET NEW YORK NY 10019 PAMELA ROBINSON 2124059000 2013-05-13 1 MARTIN GREIF P00029738 2123721000 2011 2016-02-24 21:20:13Z BENNETT RINK 405 WEST 55TH STREET NEW YORK NY 10019 63101643 0 X WWW.ALVINAILEY.ORG X 1958 NY THE MISSION OF ALVIN AILEY DANCE FOUNDATION IS TO FURTHER THE PIONEERING WORK OF ALVIN AILEY BY ESTABLISHING AN EXTENDED CULTURAL COMMUNITY WHICH PROVIDES DANCE PERFORMANCES, TRAINING AND COMMUNITY PROGRAMS FOR ALL PEOPLE. 35 34 741 92 187021 -4965 11957843 14322871 21659350 22819015 2077464 2381028 -345021 -430673 35349636 39092241 1077504 1501633 0 0 16894636 18474855 0 0 1926724 15478233 14575615 33450373 34552103 1899263 4540138 155598762 156824391 21594073 20684853 134004689 136139538 X THE MISSION OF ALVIN AILEY DANCE FOUNDATION IS TO FURTHER THE PIONEERING WORK OF ALVIN AILEY BY ESTABLISHING AN EXTENDED CULTURAL COMMUNITY WHICH PROVIDES DANCE PERFORMANCES, TRAINING AND COMMUNITY PROGRAMS FOR ALL PEOPLE. AS IMPORTANT AS ITS ARTISTIC AND EDUCATIONAL MISSION, THIS PERFORMING ARTS ORGANIZATION PLAYS A SOCIAL ROLE, USING THE BEAUTY AND HUMANITY OF THE AFRICAN-AMERICAN HERITAGE AND OTHER CULTURES TO UNITE PEOPLE OF ALL RACES, AGES AND BACKGROUNDS. 0 0 14767029 11638722 ALVIN AILEY AMERICAN DANCE THEATER - FOUNDED IN 1958, ALVIN AILEY AMERICAN DANCE THEATER (AAADT) IS ONE OF THE MOST BELOVED AND INFLUENTIAL DANCE COMPANIES IN THE WORLD. SINCE ITS INCEPTION, THE COMPANY HAS PERFORMED IN 71 COUNTRIES ON 6 CONTINENTS FOR AN ESTIMATED 23 MILLION PEOPLE AROUND THE GLOBE. THE MISSION OF THE AILEY ORGANIZATION IS TO FURTHER THE PIONEERING WORK OF ALVIN AILEY THROUGH DANCE PERFORMANCES, TRAINING, EDUCATIONAL AND COMMUNITY PROGRAMS FOR ALL PEOPLE. THE ORGANIZATION PLAYS A VITAL SOCIAL ROLE, USING THE BEAUTY AND HUMANITY OF THE AFRICAN-AMERICAN HERITAGE AND OTHER CULTURES TO UNITE PEOPLE OF ALL RACES, AGES, AND BACKGROUNDS.OVER ITS FIFTY-FOUR YEAR HISTORY, THE COMPANY HAS EARNED A REPUTATION AS ONE OF THE MOST ACCLAIMED INTERNATIONAL AMBASSADORS OF AMERICAN CULTURE, PROMOTING THE UNIQUENESS OF THE AFRICAN-AMERICAN CULTURAL EXPERIENCE AND THE PRESERVATION AND ENRICHMENT OF AMERICAN MODERN DANCE. AAADT REMAINS DEDICATED TO THE PRESENTATION OF IMPORTANT AMERICAN DANCE WORKS FROM THE PAST, AS WELL AS TO SUPPORTING THE CREATION AND PRESENTATION OF NEW WORKS BY BOTH ESTABLISHED AND EMERGING CHOREOGRAPHERS.ALVIN AILEY AMERICAN DANCE THEATER'S 30 DANCERS ARE SOME OF THE MOST TALENTED AND VERSATILE IN THE WORLD. A TYPICAL AAADT SEASON INCLUDES AN INTERNATIONAL TOUR, A U.S. TOUR TO OVER 20 CITIES, AND A FIVE-WEEK NEW YORK CITY HOME SEASON AT NEW YORK CITY CENTER, WHERE THE COMPANY HAS APPEARED ANNUALLY SINCE 1972. 1939196 1144602 AILEY II - AILEY II WAS FOUNDED IN 1974 IN RESPONSE TO MR. AILEY'S DUAL CONCERN FOR THE DEVELOPMENT OF YOUNG ARTISTS AND NEW DANCE AUDIENCES. NOW UNDER THE ARTISTIC DIRECTION OF FORMER ALVIN AILEY AMERICAN DANCE THEATER DANCER TROY POWELL, THE COMPANY IS COMPRISED OF 12 OF THE AILEY SCHOOL'S MOST TALENTED STUDENTS. OVER THE PAST 38 YEARS, AILEY II HAS BECOME ONE OF THE MOST POPULAR DANCE COMPANIES IN THE COUNTRY, TRAVELING TO CITIES LARGE AND SMALL TO EXPOSE DIVERSE AUDIENCES TO AN EXTENSIVE REPERTORY OF MODERN DANCE CLASSICS AND NEW WORKS. THE COMPANY PRESENTS A POWERFUL DANCE AESTHETIC, ABLY COMBINING THE ENTHUSIASM AND TALENT OF THE NATION'S BEST YOUNG DANCERS WITH THE INNOVATION AND CREATIVITY OF TODAY'S MOST GIFTED EMERGING CHOREOGRAPHERS. IN ADDITION TO ITS DYNAMIC PERFORMANCES, AILEY II PRESENTS EDUCATION AND OUTREACH PROGRAMS IN COMMUNITIES THAT MIGHT NOT OTHERWISE HAVE OPPORTUNITIES TO EXPERIENCE LIVE DANCE. AILEY II ANNUALLY TOURS TO MORE THAN 45 CITIES ACROSS THE COUNTRY. 10927942 1501633 9488936 AILEY EDUCATION AND OUTREACH PROGRAMS - THROUGH THE AILEY SCHOOL AND ITS EXTENSIVE ARTS IN EDUCATION PROGRAMS, THE ORGANIZATION IS COMMITTED TO BRINGING DANCE INTO CLASSROOMS AND COMMUNITIES HERE IN NEW YORK CITY AND ACROSS THE COUNTRY.FOUNDED IN 1969, THE AILEY SCHOOL IS AN ACCREDITED INSTITUTIONAL MEMBER OF THE NATIONAL ASSOCIATION OF SCHOOLS OF DANCE AND SERVES AS THE OFFICIAL SCHOOL OF THE ALVIN AILEY AMERICAN DANCE THEATER.THE AILEY SCHOOL IS AMONG THE MOST DIVERSE DANCE PROGRAMS IN THE NATION, WITH STUDENTS FROM AROUND THE WORLD, REPRESENTING A BROAD SPECTRUM OF CULTURAL BACKGROUNDS. RENOWNED FOR ITS EXCEPTIONAL TRAINING, THE SCHOOL OFFERS MORE THAN 300 CLASSES IN A WIDE RANGE OF DANCE TECHNIQUES EACH WEEK FOR STUDENTS OF ALL AGES. THE SCHOOL'S SCHOLARSHIP PROGRAM PROVIDES MORE THAN 300 SCHOLARSHIPS ANNUALLY TO TALENTED STUDENTS WHO WOULD OTHERWISE BE UNABLE TO PURSUE PROFESSIONAL TRAINING. SEVENTY PERCENT OF THIS FINANCIAL ASSISTANCE GOES TO MINORITY STUDENTS. LONG BEFORE "ARTS-IN-EDUCATION" WAS A COMMONLY USED TERM, ALVIN AILEY SENT HIS DANCERS INTO SCHOOLS AND INVITED YOUNG PEOPLE TO PERFORMANCES. MR. AILEY BELIEVED THAT "DANCE IS FOR EVERYBODY," AND WAS ESPECIALLY COMMITTED TO USING THE POWER OF DANCE TO ENHANCE THE LIVES OF AT-RISK CHILDREN. FOR MORE THAN 50 YEARS, THE AILEY ORGANIZATION HAS PIONEERED EDUCATIONAL ACTIVITIES THAT MAKE A LASTING, POSITIVE IMPACT ON YOUNG PEOPLE AT CRITICAL JUNCTURES IN THEIR DEVELOPMENT. AILEY'S INNOVATIVE PROGRAMS FOR INNER-CITY YOUTH INCLUDE: AILEYCAMP (A SUMMER PROGRAM FOR AT-RISK YOUTH); IN-SCHOOL AND AFTER SCHOOL DANCE EDUCATION PROGRAMS; AND LECTURE/DEMONSTRATIONS THAT REACH OVER 100,000 YOUNG PEOPLE EACH YEAR. 813347 688808 ANCILLARY ON-SITE COMMUNITY PROGRAMS 813347 688808 28447514 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 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 280 0 1 741 1 1 1 0 0 0 0 1 1 0 0 0 0 X 35 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MA MD NC NJ NY PA VA X PAMELA ROBINSON 2124059000 405 WEST 55TH STREET NEW YORK NY 10019 X JAMES G ABRUZZO 5.00 X 0 0 0 GINA F ADAMS 5.00 X 0 0 0 SIMIN N ALLISON 5.00 X X 0 0 0 ELEANOR S APPLEWHAITE ESQ 5.00 X 0 0 0 ROBERT BATTLE 5.00 X 0 0 0 NICOLE A BERNARD 5.00 X 0 0 0 ANTOINETTE COOPER BLAIR 5.00 X 0 0 0 JUDITH BYRD 5.00 X 0 0 0 ANTHONY M CARVETTE 5.00 X 0 0 0 KATHRYN C CHENAULT 5.00 X 0 0 0 DAVID S DANIEL 5.00 X 0 0 0 CATHERINE DAVIS 5.00 X 0 0 0 DARIA FOSTER 5.00 X 0 0 0 GUIDO GOLDMAN 5.00 X X 0 0 0 ANITA-AGNES O HASSELL 5.00 X 0 0 0 ROBERT KISSANE 5.00 X X 0 0 0 DEBRA L LEE 5.00 X X 0 0 0 MICHELLE Y LEE 5.00 X 0 0 0 NATASHA LEIBEL LEVINE 5.00 X 0 0 0 ANTHONY A LEWIS 5.00 X 0 0 0 LINDA M LINDENBAUM 5.00 X X 0 0 0 SHARON GERSTEN LUCKMAN 50.00 X X 430856 0 312516 LESLIE L MAHERAS 5.00 X 0 0 0 ARTHUR J MAHON 5.00 X 0 0 0 HENRY MCGEE 8.00 X X 0 0 0 ARTHUR J MIRANTE II 5.00 X X 0 0 0 DAVID E MONN 5.00 X 0 0 0 GABRIELLA E MORRIS 5.00 X 0 0 0 STANLEY PLESENT ESQ 5.00 X 0 0 0 MARILYN L PRINCE 5.00 X 0 0 0 ROBIN ROYALS 5.00 X 0 0 0 JOHN H SCHAEFER 5.00 X X 0 0 0 RICHARD SPECIALE 5.00 X 0 0 0 LEMAR SWINNEY 5.00 X 0 0 0 JOAN H WEILL 12.00 X X 0 0 0 PAMELA ROBINSON 40.00 X 210066 0 34466 ROBERT BATTLE 50.00 X 189894 0 16215 BENNETT RINK 40.00 X 278845 0 34534 MASASUMI CHAYA 45.00 X 227926 0 18883 CALVIN HUNT 40.00 X 210767 0 15994 THOMAS COTT 40.00 X 188217 0 17001 CHRISTOPHER ZUNNER 40.00 X 163382 0 14321 JUDITH JAMISON 40.00 X 393365 0 13062 2293318 0 476992 20 1 1 0 OPUS 3 ARTISTS 470 PARK AVE SO NEW YORK NY 10016 BOOKING AGENT 232745 DIVINE PHYSICAL THERAPY 1 UNIVERSITY PLAZA 6TH FLOOR BROOKLYN NY 11201 PHYSICAL THERAPY SERVICES 169715 OBERLANDER GROUP 143 REMSEN STREET COHOES NY 12047 GRAPHIC DESIGN & PRINTING 154005 3 3895287 460395 9967189 665041 14322871 PERFORMANCE FEES 900099 12566501 12566501 TUITION & TEACHING FEE 900099 9193194 9193194 STUDIO INCOME 531120 763578 576557 187021 STUDENT FEES 900099 160417 160417 SCHOOL TICKET SALES 900099 135325 135325 22819015 1844324 1844324 146809 146809 23338727 22802023 536704 536704 536704 266833 3895287 1206461 -939628 -939628 113169 918 112251 112251 EXPENSE REIMBURSEMENTS 900099 216823 216823 MISC. INCOME 900099 33072 33072 249895 39092241 22961068 187021 1621281 1501633 1501633 1343615 198189 1145426 13876487 11894484 1032362 949641 516235 462583 25437 28215 1746644 1410757 219288 116599 991874 844964 78525 68385 61861 61861 111105 111105 203717 203717 1805065 1437118 299412 68535 1153063 1153063 405738 288913 35640 81185 285666 234513 33492 17661 191922 191922 1734619 1573365 115181 46073 2680677 2611333 40384 28960 1041083 895331 104109 41643 1649731 1419053 164689 65989 165210 143495 19962 1753 COMMISSIONS TO AGENTS 939498 939498 DEBT SRVC & OTHER FEES 459802 105313 327501 26988 EQUIPMENT RENTAL 384978 367026 11754 6198 COSTUMES & WARDROBE 299794 299794 1002086 475167 148020 378899 34552103 28447514 4177865 1926724 12300455 11258544 9169309 9970684 8953628 7139909 539945 420543 13296 15815 337530 193958 52351877 11406318 42244354 40945559 66309871 68092844 13459228 16538271 2271146 2248264 155598762 156824391 5118463 5160255 2054064 1690031 14421546 13834567 21594073 20684853 X 69603631 76150381 19968364 15368678 44432694 44620479 134004689 136139538 155598762 156824391 X 4540138 -2405289 X 0 1 1 X 1 1 X 31110565 9458190 10564613 11957843 14322871 77414082 18688350 19913846 17932908 21723406 22848817 101107327 49798915 29372036 28497521 33681249 37171688 178521409 9056948 10357289 1460327 2503799 5953000 29331363 0 9056948 10357289 1460327 2503799 5953000 29331363 149190046 3121954 2574371 2310536 1790658 1991133 11788652 3121954 2574371 2310536 1790658 1991133 11788652 42778 95113 111113 159838 187021 595863 174315 214468 135553 123368 145323 793027 53137962 32255988 31054723 35755113 39495165 191698951 0.77830 0.73480 0.06150 0.06980 X SCHEDULE A, PART II, LINE 12, EXPLANATION OF OTHER INCOME: BOUTIQUE / MERCHANDISE SALES MISCELLANEOUS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 43594415 6782071 -1183022 643145 48550319 37287514 2894110 3884825 472034 43594415 30168886 2897362 5070489 849223 37287514 33849566 3093804 -5990017 784467 30168886 0.07000 0.93000 0 0 9334293 9334293 33199885 6286801 26913084 9817699 5119517 4698182 40945559 HEDGE FUNDS 16538271 F 16538271 BONDS PAYABLE 13760000 LIABILITIES FOR AMOUNTS HELD FOR OTHERS 74567 13834567 39092241 34552103 4540138 -2405289 -2405289 2134849 35710284 -2405289 404729 -1177680 -3178240 38888524 203717 203717 39092241 33575435 404729 404729 33170706 203717 1177680 1381397 34552103 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE FOUNDATION'S ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE FOUNDATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. ENDOWMENT ASSETS INCLUDE THOSE ASSETS OF DONOR-RESTRICTED FUNDS THAT THE ORGANIZATION MUST HOLD IN PERPETUITY OR FOR A DONOR-SPECIFIED PERIOD(S) AS WELL AS BOARD-DESIGNATED FUNDS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS EVALUATED THE FOUNDATION'S TAX POSITIONS AND HAS CONCLUDED THAT THE FOUNDATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. GENERALLY, THE FOUNDATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2009, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XII, LINE 2D - OTHER ADJUSTMENTS: TUITION REMISSIONS -1,177,680. PART XIII, LINE 4B - OTHER ADJUSTMENTS: TUITION REMISSIONS 1,177,680. EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES DANCE PERFORMANCES 893110 RUSSIA & THE NEWLY INDEPENDENT STATES - 0 0 PROGRAM SERVICES DANCE PERFORMANCES 127845 0 0 0 0 0 0 1020955 0 1020955 1 0 1 1 0 0 ONG DINNER 2505665 2379271 126394 528591 APOLLO DINNER 977509 929989 47520 53359 278853 1 678946 586027 92919 345658 4162120 3895287 266833 53359 1153102 1206461 -939628 1 TUITION REMISSION 325 1177680 LIVING STIPENDS 28 169328 TUITION ASSISTANCE 8 136100 PROFESSIONAL DEVELOPMENT 1 18525 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: STUDENT AID IS GIVEN IN THE FORM OF TUITION REMISSION, WHICH IS APPLIED DIRECTLY TO THE STUDENT'S ACCOUNT. OTHER AID IS GIVEN THROUGH CASH STIPENDS FOR LIVING EXPENSES. THIS AID IS DISBURSED EACH SEMESTER WHEN THE STUDENT ARRIVES. THE STUDENT MUST MAINTAIN SATISFACTORY ACADEMIC PROGRESS IN ALL OF THEIR CLASSES. X X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 SHARON GERSTEN LUCKMAN 430856 0 0 0 0 0 298850 0 13666 0 743372 0 0 0 PAMELA ROBINSON 210066 0 0 0 0 0 6750 0 27716 0 244532 0 0 0 ROBERT BATTLE 189894 0 0 0 0 0 3984 0 12231 0 206109 0 0 0 BENNETT RINK 278845 0 0 0 0 0 6750 0 27784 0 313379 0 0 0 MASASUMI CHAYA 227926 0 0 0 0 0 6750 0 12133 0 246809 0 0 0 CALVIN HUNT 210767 0 0 0 0 0 6393 0 9601 0 226761 0 0 0 THOMAS COTT 188217 0 0 0 0 0 5760 0 11241 0 205218 0 0 0 CHRISTOPHER ZUNNER 163382 0 0 0 0 0 4950 0 9371 0 177703 0 0 0 JUDITH JAMISON 119812 0 0 0 273553 0 7350 0 5712 0 406427 0 0 0 PART I, LINE 1A A DISCRETIONARY SPENDING ACCOUNT, HOUSING ALLOWANCE AND PAYMENTS TO OFFSET TAX CONSEQUENCES WERE PAID TO THE ARTISTIC DIRECTOR EMERITA. THESE AMOUNTS ARE INCLUDED IN "OTHER REPORTABLE COMPENSATION" AND REPORTED ON THE W2. PART I, LINE 4B THE EXECUTIVE DIRECTOR HAS AN EMPLOYMENT CONTRACT WITH THE FOUNDATION THAT COVERS THE PERIOD FROM JULY 1, 2009 TO JUNE 30, 2013. INCLUDED IN THE AGREEMENT IS THE PROVISION FOR A SPECIAL BONUS OF $500,000 AND A SUPPLEMENTAL RETIREMENT PAYMENT OF $600,000. THESE WILL BE PAID TO HER UPON EITHER (1) THE TERMINATION OF THE EMPLOYMENT PERIOD ON THE EXPIRATION DATE WITHOUT HER SEPARATION FROM SERVICE PRIOR TO SUCH EXPIRATION DATE, OR (2) A TERMINATION OF THE EMPLOYMENT PERIOD PRIOR TO THE EXPIRATION DATE DUE TO HER SEPARATION FROM SERVICE DUE TO AN INVOLUNTARY TERMINATION OF HER EMPLOYMENT BY THE FOUNDATION WITHOUT CAUSE OR THE CONSTRUCTIVE DISCHARGE BY THE FOUNDATION. THESE PAYMENTS WILL BE PAID AS SOON AS PRACTICABLE FOLLOWING TERMINATION OF THE EMPLOYMENT PERIOD UNDER THIS PARAGRAPH, BUT NO LATER THAN 2 1/2 MONTHS FOLLOWING THE DATE ON WHICH THE TERMINATION OF THE EMPLOYMENT PERIOD OCCURS. INCLUDED ON SCHEDULE J, PART II, COLUMN C IS $275,000, WHICH IS COMPRISED OF $125,000 OF THE SPECIAL BONUS AND $150,000 OF THE SUPPLEMENTAL RETIREMENT PAYMENT. EACH REPRESENTS 1/4 OF THE TOTAL AMOUNT LISTED ABOVE. THESE AMOUNTS HAVE NOT BEEN PAID AND HAVE ONLY BEEN INCLUDED RATABLY UNDER THE PERIOD THE SERVICES ARE TO BE PERFORMED UNDER THE CONTRACT, PER THE INSTRUCTIONS FOR SCHEDULE J. PART I, LINE 7 A NON FIXED PAYMENT IN THE FORM OF A DISCRETIONARY SPENDING ACCOUNT WAS PROVIDED TO THE ARTISTIC DIRECTOR THROUGH JUNE 2011. TRUST FOR CULTURAL RESOURCES OF THE CITY OF NEW YORK 911882413 649717MV4 2003-11-06 20000000 TO FINANCE PART OF THE CONSTRUCTION COSTS OF THE ORGANIZATION'S FACILITIES 0 0 0 20000000 626103 440173 18762525 171200 2007 0 0 1 1 0 0 1 0 0 0.01000 0.01000 0.02000 1 0 1 0 0 0 0 X 9 315533 FMV WHEN DONATED X AIRFARE 1 36000 RETAIL VALUE X PROGRAM SERVICES/SUPPLIES 3 22709 RETAIL VALUE X EVENT SERVICES/SUPPLIES 24 283299 RETAIL VALUE X EQUIPMENT 1 7500 RETAIL VALUE 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS ABOVE REPRESENTS A COMBINATIONOF NUMBER OF DONORS AND NUMBER OF CONTRIBUTED ITEMS. FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT OF THE 990 IS THOROUGHLY EXAMINED AND REVIEWED BY THE TREASURER & CFO AND BY THE CHAIR OF THE AUDIT COMMITTEE, AS WELL AS THE EXECUTIVE DIRECTOR AND BY OTHER KEY STAFF AS APPROPRIATE. THE COMPLETED 990 IS THEN REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS (WHO WAS PREVIOUSLY DELEGATED THAT RESPONSIBILITY BY THE FULL BOARD) PRIOR TO FILING. ALSO PRIOR TO FILING, A FULL COPY IS SENT TO THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE CONFLICT OF INTEREST POLICY IS SENT TO EACH MEMBER OF THE BOARD, AS WELL AS THE ORGANIZATION'S OFFICERS AND KEY EMPLOYEES. THE POLICY IS REVIEWED AND DISCUSSED AT ONE BOARD MEETING EACH YEAR. INDIVIDUALS ARE REQUIRED TO COMPLETE AND RETURN A QUESTIONNAIRE WHICH WOULD NOTE ANY NECESSARY DISCLOSURES OR CONFLICTS. THE CFO REVIEWS EACH COMPLETED QUESTIONNAIRE AND, IF A CONFLICT ARISES, THE CFO WILL BRING THE MATTER TO THE ATTENTION OF THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD PERFORMS DUE DILIGENCE ON APPROPRIATE COMPENSATION FOR THE EXECUTIVE DIRECTOR AND MAKES A RECOMMENDATION TO THE EXECUTIVE COMMITTEE FOR APPROVAL. THE COMPENSATION COMMITTEE SEEKS DIRECTION AND ADVICE FROM OUTSIDE COUNSEL WHO SPECIALIZE IN EXECUTIVE COMPENSATION, AND FROM CONSULTANTS WHO PERFORM BENCHMARKING ANALYSIS TO ASSIST IN DEVELOPING THE RECOMMENDATION. THE EXECUTIVE COMMITTEE MEETS WITH THE COMPENSATION COMMITTEE AND COUNSEL TO REVIEW THE PROPOSED COMPENSATION. AADF PERFORMS INTERNAL BENCHMARKING FOR OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION USING PUBLISHED SURVEYS AND OTHER RESOURCES. SALARY RECOMMENDATIONS ARE PROPOSED BY THE EXECUTIVE DIRECTOR TO THE EXECUTIVE COMMITTEE OF THE BOARD FOR APPROVAL. THESE RECOMMENDATIONS ARE ALSO REVIEWED BY A MEMBER OF THE BOARD WHO IS A PROFESSIONAL IN EXECUTIVE RECRUITMENT. FORM 990, PART VI, SECTION C, LINE 19 THE IRS FORM 990 IS AVAILABLE UPON REQUEST AND ALSO ON WEBSITES SUCH AS GUIDESTAR.ORG. GOVERNING DOCUMENTS, SUCH AS THE CONFLICT OF INTEREST POLICY AND THE AUDITED FINANCIAL STATEMENTS, ARE NOT AVAILABLE TO THE GENERAL PUBLIC. FORM 990, PART VII THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F, AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -2,405,289.