2012-03-15T18:45:37-05:00 2011-03-31 SINGERLEWAK LLP 10960 WILSHIRE BLVD STE 700 LOS ANGELES CA 900243783 990 2010-04-01 237298290 MUSIC CENTER FOUNDATION MUSI 2139728046 135 NORTH GRAND AVE LOS ANGELES CA 900123013 STEVEN BENSON 2139728046 2012-03-07 1 LIOR TEMKIN 3104773924 2012-03-07 2010 2016-02-24 21:20:13Z STEVEN BENSON 135 NORTH GRAND AVE LOS ANGELES CA 900123013 7688250 0 X WWW.MUSICCENTERFOUNDATION.ORG X 1973 CA ENDOWMENT MANAGEMENT AND FINANCIAL SUPPORT OF PROGRAMMING AT LOS ANGELES' MUSIC CENTER. 17 17 2 0 -71848 -71848 1641020 2283646 0 0 2782110 5404604 0 0 4423130 7688250 5935129 5788985 0 0 333673 339789 0 0 273915 363750 234145 6632552 6362919 -2209422 1325331 312637115 346689617 179603577 205078133 133033538 141611484 THE MISSION OF MUSIC CENTER FOUNDATION IS TO PROVIDE ENDOWMENT SUPPORT TO THE MUSIC CENTER/PERFORMING ARTS CENTER OF LOS ANGELES COUNTY, ITS EDUCATION AND ARTISTIC PROGRAMS AND RESIDENT COMPANIES THROUGH PLANNED GIVING FUNDRAISING AND ASSET MANAGEMENT. 0 0 4213078 4213078 ENDOWMENT DISTRIBUTIONS TO THE MUSIC CENTER/PERFORMING ARTS CENTER OF LOS ANGELES COUNTY, ITS EDUCATIONAL ACTIVITIES AND ITS AFFILIATED PERFORMING ARTS COMPANIES WHICH INCLUDE LOS ANGELES PHILHARMONIC ASSOCIATION, CENTER THEATRE GROUP, LOS ANGELES OPERA COMPANY AND THE LOS ANGELES MASTER CHORALE. 1575907 1575907 THE MUSIC CENTER FOUNDATION'S LAPA FUND MAKES DISTRIBUTIONS TO THE LOS ANGELES PHILHARMONIC ASSOCIATION. 5788985 1 1 0 0 1 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 6 0 1 2 1 1 1 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 CA X STEVEN BENSON PRESIDENT 2139728046 135 NORTH GRAND AVE LOS ANGELES CA 900123013 PETER W MULLIN 1.00 X X 0 0 0 STEPHEN F HINCHLIFFE JR 1.00 X X 0 0 0 STUART M KETCHUM 1.00 X X 0 0 0 FRANK BAXTER 1.00 X 0 0 0 DAVID C BOHNETT 1.00 X 0 0 0 WILLIAM LLOYD DAVIS 1.00 X 0 0 0 JERROLD L EBERHARDT 1.00 X 0 0 0 JOHN B EMERSON 1.00 X 0 0 0 C DANIEL EWELL 1.00 X 0 0 0 MARK FOSTER 1.00 X 0 0 0 SARAH H KETTERER 1.00 X 0 0 0 DARELL L KRASNOFF 1.00 X 0 0 0 KENT KRESA 1.00 X 0 0 0 MICHAEL A LAWSON 1.00 X 0 0 0 BOWEN H MCCOY 1.00 X 0 0 0 SUSAN C SCHNABEL 1.00 X 0 0 0 MARC I STERN 1.00 X 0 0 0 EDWARD RADA 40.00 X 204688 0 32219 204688 0 32219 1 0 1 0 MONTICELLO ASSOCIATES INC 1200 17TH ST 2600 DENVER CO 80202 INVESTMENT CONSULTANT 300000 1 2283646 2283646 1016674 -71848 1088522 4387930 4387930 4387930 4387930 7688250 0 -71848 5476452 5788985 5788985 242386 121193 121193 50838 25419 25419 29400 14700 14700 17165 8583 8582 23867 11934 11933 231513 162092 69421 143348 71674 71674 66567 66567 5615 2808 2807 5555 2778 2777 30874 15437 15437 52556 26278 26278 TELEPHONE 4684 2342 2342 MISCELLANEOUS 3661 1829 1832 PAYROLL SERVICE FEES 3184 1592 1592 REIMBURSEMENTS -337279 -168640 -168639 6362919 5788985 300019 273915 732705 3846798 17310182 18281842 4504911 4087034 23115 18317 4798 4798 109852012 114260339 180232507 206208806 312637115 346689617 105541 106163 179498036 204971970 179603577 205078133 X 37183467 43341123 95850071 98270361 133033538 141611484 312637115 346689617 X 1325331 7252615 X X 0 1 1 X 0 X 2804019 1903678 3669726 2060032 2283646 12721101 2804019 1903678 3669726 2060032 2283646 12721101 1922957 10798144 2403820 1947679 1802298 1533573 1088522 8775892 -302369 -49206 -141377 -86431 -71848 -651231 20845762 0.51800 0.53850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15 413717 341327 8082513 1 1 133033538 2283646 12657219 5788985 573934 141611484 112622822 2060052 24983216 5935129 697423 133033538 149773984 4502073 6519007 34455192 679036 112622822 1.00000 0 0 23115 18317 4798 4798 DUE FROM AFFILIATED ORGANIZATIONS 158002 FUNDS HELD FOR OTHERS 200175574 SPLIT-INTEREST AGREEMENTS 5875230 206208806 DISTRIBUTIONS PAYABLE 3524141 FUNDS HELD FOR OTHERS 200175574 OBLIGATION UNDER ANNUITIES & TRUSTS 1272255 204971970 7688250 6362919 1325331 7095125 157490 7252615 8577946 14940865 7095125 157490 7252615 7688250 0 7688250 6362919 0 6362919 0 6362919 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: ANNUAL DISTRIBUTIONS TO SUPPORT THE PERFORMING ARTS AT THE MUSIC CENTER/PERFORMING ARTS CENTER OF LOS ANGELES COUNTY AND ITS RESIDENT COMPANIES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IN ACCORDANCE WITH ASC 740, "UNCERTAINTY IN INCOME TAXES," THE FOUNDATION RECOGNIZES THE IMPACT OF TAX POSITIONS IN THE FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT, BASED ON THE TECHNICAL MERITS OF THE POSITION. TO DATE, THE FOUNDATION HAS NOT RECORDED ANY UNCERTAIN TAX POSITIONS. THE FOUNDATION RECOGNIZES POTENTIAL ACCRUED INTEREST AND PENALTIES RELATED TO UNCERTAIN TAX POSITIONS IN INCOME TAX EXPENSE. DURING THE YEAR ENDED MARCH 31, 2011, THE FOUNDATION DID NOT RECOGNIZE ANY AMOUNT IN POTENTIAL INTEREST AND PENALTIES ASSOCIATES WITH UNCERTAIN TAX POSITIONS. THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE OR LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2006. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGES IN VALUE OF SPLIT-INTEREST AGREEMENTS 157,490. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 157,490. 1 MUSIC CENTERPERFORMING ARTS CENTER OF LOS ANGELES COUNTY 135 NORTH GRAND AVE LOS ANGELES CA 90012 952217011 501(C)(3) 1130367 FMV N/A GENERAL SUPPORT LOS ANGELES PHILHARMONIC ASSOCIATION 135 NORTH GRAND AVE LOS ANGELES CA 90012 951696734 501(C)(3) 2700167 FMV N/A GENERAL SUPPORT CENTER THEATRE GROUP OF LOS ANGELES INC 135 NORTH GRAND AVE LOS ANGELES CA 90012 952466183 501(C)(3) 1073133 FMV N/A GENERAL SUPPORT LOS ANGELES OPERA COMPANY 135 NORTH GRAND AVE LOS ANGELES CA 90012 952096402 501(C)(3) 771215 FMV N/A GENERAL SUPPORT LOS ANGELES MASTER CHORALE ASSOCIATION 135 NORTH GRAND AVE LOS ANGELES CA 90012 952315682 501(C)(3) 114103 FMV N/A GENERAL SUPPORT 5 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: MUSIC CENTER FOUNDATION REGULARLY MEETS WITH ALL GRANTEE ORGANIZATIONS TO ENSURE THAT FUNDS ARE USED AS INTENDED. FURTHER, ALL GRANTEE ORGANIZATIONS ARE KNOWN TO MUSIC CENTER FOUNDATION DUE TO THE PROXIMITY OF ALL ORGANIZATIONS INVOLVED. X X X 0 0 0 0 0 0 0 0 0 EDWARD RADA 204688 0 0 0 0 0 20469 0 11750 0 236907 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE MEETS WITH THE AUDITORS TO REVIEW AND DISCUSS A DRAFT OF THE FORM 990. ONCE APPROVED BY THE AUDIT COMMITTEE, THE FORM IS PRESENTED TO THE ENTIRE BOARD OF DIRECTORS. THE RETURN IS THEN ELECTRONICALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION SENDS A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY TO THE BOARD OF DIRECTORS AND OFFICERS. THE QUESTIONNAIRES ARE REVIEWED TO ENSURE THEY ARE COMPLIANT WITH THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 A SURVEY OF COMPENSATION FOR COMPARABLE POSITIONS WAS PERFORMED AND APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 18 FORM 1023 AND ALL OTHER INFORMATIONAL RETURN DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE MUSIC CENTER FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS, AND INFORMATIONAL RETURNS AVAILABLE UPON WRITTEN REQUEST. THE INFORMATIONAL RETURNS ARE ALSO MADE AVAILABLE TO THE PUBLIC THROUGH WWW.GUIDESTAR.ORG, A PUBLIC WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 7,095,125. CHANGES IN VALUE OF SPLIT-INTEREST AGREEMENTS 157,490. TOTAL TO FORM 990, PART XI, LINE 5: 7,252,615. FORM 990, PART XI, LINE 2C: SINCE THE FILING OF PRIOR YEAR 2009 INFORMATIONAL RETURN, THERE HAVE BEEN NO CHANGES TO THE AUDIT OVERSIGHT AND SELECTION PROCESS. PROCEEDS FROM SALE OF STOCKS & COST OR OTHER BASIS FORM 990, PART VIII, LINE 7A & 7B: THE MUSIC CENTER FOUNDATION HAS INVESTMENT ACCOUNTS, HEDGE FUNDS AND OTHER INVESTMENT PARTNERSHIPS WITH MANY STOCK TRANSACTIONS. DUE TO THE LARGE QUANTITY OF STOCK TRANSACTIONS, THIS INFORMATION IS NOT INCLUDED IN THE RETURN, BUT IS AVAILABLE UPON REQUEST. MUSIC CENTERPERFORMING ARTS CENTER OF LOS ANGELES COUNTY 135 N GRAND AVE LOS ANGELES CA 90012 952217011 GENERAL SUPPORT OF ITS EXEMPT PURPOSE CA 501(C)(3) 170(B)(1)(A)(VI) THE MUSIC CENTER FOUNDATION 0 LOS ANGELES PHILHARMONIC ASSOCIATION 135 N GRAND AVE LOS ANGELES CA 90012 951696734 GENERAL SUPPORT OF ITS EXEMPT PURPOSE CA 501(C)(3) 509(A)(2) THE MUSIC CENTER FOUNDATION 0 CENTER THEATRE GROUP OF LOS ANGELES INC 135 N GRAND AVE LOS ANGELES CA 90012 952466183 GENERAL SUPPORT OF ITS EXEMPT PURPOSE CA 501(C)(3) 509(A)(2) THE MUSIC CENTER FOUNDATION 0 LOS ANGELES OPERA ASSOCIATION 135 N GRAND AVE LOS ANGELES CA 90012 952096402 GENERAL SUPPORT OF ITS EXEMPT PURPOSE CA 501(C)(3) 509(A)(2) THE MUSIC CENTER FOUNDATION 0 LOS ANGELES MASTER CHORALE AASSOCIATION 135 N GRAND AVE LOS ANGELES CA 90012 952315682 GENERAL SUPPORT OF ITS EXEMPT PURPOSE CA 501(C)(3) 170(B)(1)(A)(VI) THE MUSIC CENTER FOUNDATION 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 1 MUSIC CENTERPERFORMING ARTS CENTER OF LOS ANGELES COUNTY B 1130367 FMV LOS ANGELES PHILHARMONIC ASSOCIATION B 2700167 FMV CENTER THEATRE GROUP OF LOS ANGELES INC B 1073133 FMV LOS ANGELES OPERA COMPANY B 771215 FMV LOS ANGELES MASTER CHORALE B 114103 FMV LOS ANGELES OPERA COMPANY D 3991222 FMV MUSIC CENTERPERFORMING ARTS CENTER OF LOS ANGELES COUNTY O 389345 FMV LOS ANGELES PHILHARMONIC ASSOCIATION P 52056 FMV LOS ANGELES PHILHARMONIC ASSOCIATION R 6000000 FMV MUSIC CENTERPERFORMING ARTS CENTER OF LOS ANGELES COUNTY R 1718558 FMV