2012-04-13T16:30:13-05:00 2011-06-30 BEACHFLEISCHMAN PC PO BOX 64130 TUCSON AZ 857284130 990 2010-07-01 866006371 TUCSON MUSEUM OF ART AND HISTORIC BLOCK INC TUCS 5206243333 140 NORTH MAIN AVENUE TUCSON AZ 85701 ROBERT KNIGHT 5206243333 2012-03-23 1 KAREN K MCCLOSKEY CPA 5203214600 2010 2016-02-24 21:20:13Z ROBERT KNIGHT 140 NORTH MAIN AVENUE TUCSON AZ 85701 4172382 0 X WWW.TUCSONMUSEUMOFART.ORG X 1975 AZ PROVIDING VISUAL ARTS EXHIBITIONS AND EDUCATIONAL PROGRAMS TO SOUTHERN ARIZONA. 28 28 76 300 0 0 1004918 1373052 283062 209823 45628 102954 697306 645097 2030914 2330926 0 0 0 0 1198236 1276894 0 0 347461 890401 1034489 2088637 2311383 -57723 19543 5894351 5843538 473136 217816 5421215 5625722 X CONNECTING ART TO LIFE. 0 0 1081995 124372 CURATORIAL & EXHIBITIONS: TO ACHIEVE ITS MISSION OF "CONNECTING ART TO LIFE," THE TUCSON MUSEUM OF ART AND HISTORIC BLOCK PRESERVES AND INTERPRETS ITS COLLECTIONS OF THE ART OF LATIN AMERICA, ART OF THE AMERICAN WEST, AND MODERN AND CONTEMPORARY ART; CARES FOR AND INTERPRETS FIVE SIGNIFICANT EL PRESIDIO HISTORIC PROPERTIES; AND PRODUCES RELATED EXHIBITIONS, EDUCATION PROGRAMS, AND PUBLICATIONS WHICH EXPAND UNDERSTANDING AND APPRECIATION OF THESE UNIQUE COMMUNITY RESOURCES. THE MUSEUM WAS PLEASED TO DISPLAY 11 REMARKABLE EXHIBITIONS DURING ITS 2010-2011FISCAL YEAR. THE FOLLOWING ARE JUST A SAMPLE OF THE RICH ARTISTIC HERITAGE MADE AVAILABLE TO THE PUBLIC:"THANKS FOR BEING WITH US" WAS A RARE OPPORTUNITY TO SEE A LARGE BODY OF WORK BY INTERNATIONALLY RENOWNED ARTISTS BROUGHT TOGETHER AS A RESULT OF THE PERSONAL VISION OF TUCSON COLLECTOR, DOUGLAS NEILSEN. ARTISTS WHOSE WORKS WERE INCLUDED IN THIS EXHIBITION INCLUDED ED RUSCHA, BRUCE NAUMAN, RICHARD SERRA, CLAES OLDENBERG, AND KIKI SMITH, AS WELL AS PROMINENT PHOTOGRAPHERS ANNIE LEIBOVITZ, HERB RITTS, CINDY SHERMAN, ELLIOTT ERWITT, AND DIANE ARBUS. THIS EXHIBITION WAS OPEN FOR 86 DAYS WITH A TOTAL ATTENDANCE OF 4,599."THE JOURNEY OF LEWIS AND CLARK" WAS A MONUMENTAL THREE-PART EXHIBITION INCLUDING: "CHARLES FRITZ: AN ARTISTS WITH THE CORPS OF DISCOVERY - ONE HUNDRED PAINTINGS ILLUSTRATING THE JOURNALS OF LEWIS AND CLARK," "MICHAEL HAYNES - TO THE WESTERN OCEAN: PORTRAITS OF THE LEWIS AND CLARK EXPEDITION," AND "THOMAS JEFFERSON'S WEST: AT THE CONFLUENCES OF ART AND EXPLORATION." ALL OBJECTS IN THIS EXHIBITION WERE DRAWN FROM ONE PRIVATE COLLECTION AND SHARED A DIVERSE PERSPECTIVE TO UNDERSTAND THE PEOPLE AND LANDSCAPES THAT SHAPED OUR COUNTRY'S HISTORY. THIS EXHIBITION WAS OPEN FOR 91 DAYS WITH A TOTAL ATTENDANCE OF 9,515."BORDERLANDIA: CULTURAL TOPOGRAPHIES BY EINAR AND JAMEX DE LA TORRE" PERTINENTLY ADDRESSED THE DIALECTIC OF CULTURAL PLURALITY, IDENTITY POLITICS, POPULAR CULTURE, RELIGION, AND GEOPOLITICS DURING A PARTICULARLY CONTENTIOUS TIME IN THE SOUTHWEST. THE MEDIUM IS ONE THAT IS STEEPED IN EUROPEAN TRADITION OF ITALIAN GLASSBLOWING MIXED WITH THE VERNACULAR OF THE UTILITARIAN GLASSWARE OF MEXICO - BEAUTY AND FUNCTIONALITY COMINGLING LIKE THE HYBRID STRUCTURE OF THE ARTISTS' MESSAGE. THIS EXHIBITION WAS OPEN FOR 121 DAYS WITH A TOTAL ATTENDANCE OF 13,218. 391078 91457 EDUCATION: THE TUCSON MUSEUM OF ART FOSTERS A DEEPER UNDERSTANDING AND APPRECIATION FOR ITS HISTORIC COLLECTIONS THROUGH ITS NUMEROUS EDUCATIONAL PROGRAMS. THE MUSEUM OFFERS A WIDE ARRAY OF PROGRAMS TO THE PUBLIC, INCLUDING: THE YOUTH/PRE-K-12 SCHOOL PROGRAMS, COMMUNITY OUTREACH PROGRAMS, FAMILY PROGRAMS, ACCESSIBLE PROGRAMS, THE RESEARCH LIBRARY AND A CERAMICS STUDIO.18,435 PEOPLE PARTICIPATED IN THE MUSEUM'S PUBLIC PROGRAMS, WHICH ARE DESIGNED TO ENGAGE ALL COMMUNITY MEMBERS IN CONVERSATIONS, LECTURES, GALLERY TOURS AND OTHER EXPERIENCES THAT PROVIDE AN INTERDISCIPLINARY AND MULTI-DIMENSIONAL PERSPECTIVE OF THE PERMANENT COLLECTION AND SPECIAL EXHIBITIONS.THE MUSEUM SCHOOL FOR THE VISUAL ARTS IS A UNIQUE ALTERNATIVE EDUCATION HIGH SCHOOL SERVING 31 STUDENTS. ORIGINALLY FOUNDED IN 1993 BY THE TUCSON PIMA ARTS COUNCIL AS AN AFTER-SCHOOL VISUAL ART, SERVICE-LEARNING PROGRAM, THE SCHOOL IS A PARTNERSHIP WITH THE TUCSON UNIFIED SCHOOL DISTRICT (TUSD) AND IS LOCATED WITHIN THE MUSEUM'S EDUCATION CENTER.THE MUSEUM'S K-12 PROGRAMS TAKE AN INTERACTIVE APPROACH AIMED TO MAKE MEANINGFUL CONNECTIONS BETWEEN ART AND AUDIENCES. 2,049 LOCAL STUDENTS VISITED THE MUSEUM AND WERE INSPIRED TO ENGAGE WITH THE DYNAMISM OF ANCIENT THROUGH CONTEMPORARY CULTURE WHILE DEVELOPING THEIR VISUAL LITERACY SKILLS.THE MUSEUM'S COMMUNITY OUTREACH PROGRAMS IN PARTICIPATION WITH OTHER LOCAL GROUPS HELPED DIMINISH BARRIERS BETWEEN ART AND THOSE WHO MAY NOT HAVE EASY OR DIRECT ACCESS TO THE VISUAL ARTS. ALL TOLD, 2010-2011 SAW 6,126 PEOPLE FROM OUR COMMUNITY PARTICIPATE IN THESE EVENTS. 84001 95771 MUSEUM STORE: THE MUSEUM STORE FEATURES AN IMPRESSIVE SELECTION OF WORKS BY ARIZONA'S MOST TALENTED ARTISTS AND CRAFTSPEOPLE. MANY OF THE WORKS ARE ON CONSIGNMENT FROM LOCAL ARTISANS WHILE OTHERS ARE PURCHASED FOR RESALE. THE STORE EXISTS TO PROVIDE AN AVENUE OF EXPOSURE FOR THE LOCAL ART COMMUNITY AND SUPPLY TUCSON WITH A VENUE FOR LOCAL TALENT! 1557074 1 1 0 0 0 0 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 10 10 1 76 1 0 0 0 0 0 1 1 0 0 0 0 X 28 28 0 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 0 1 1 0 AZ X X KATIE HIEDEMAN CHIEF FINANCIAL OFFICER 5206242333 140 NORTH MAIN AVENUE TUCSON AZ 85701 LARRY ADAMSON 2.00 X 0 0 0 JOYCE BROAN 2.00 X 0 0 0 MERLIN COHEN 2.00 X 0 0 0 JAMES GLASSER 2.00 X 0 0 0 MICHAEL HANSON 2.00 X 0 0 0 JOAN JACOBSON 2.00 X 0 0 0 MICHAEL KASSER 2.00 X 0 0 0 HAROLD KITAY 2.00 X 0 0 0 BURT LAZAR 2.00 X 0 0 0 STEVE LEAL 2.00 X 0 0 0 ROBERT MACKAY 2.00 X 0 0 0 SUSAN WARMACK 2.00 X 0 0 0 CHARLENE WELSH 2.00 X 0 0 0 JACK WESTENBORG 2.00 X 0 0 0 ANDY ANDERSON 2.00 X 0 0 0 ALICE BAKER 2.00 X 0 0 0 JOHN GOODMAN 2.00 X 0 0 0 JOHN SCHAEFER 2.00 X 0 0 0 FRANK HAMILTON 2.00 X 0 0 0 BARBARA JO MCLAUGHLIN 2.00 X 0 0 0 BARBARA MOYLAN 2.00 X 0 0 0 MARIANNE RICHARDSON 2.00 X 0 0 0 KATHERINE SMITH 2.00 X 0 0 0 ANNE LYMAN 2.00 X X 0 0 0 SHEILA SAXBERG 2.00 X X 0 0 0 JOYCE ANICKER 2.00 X X 0 0 0 JEAN COOPER 2.00 X X 0 0 0 HARRY GEORGE 2.00 X X 0 0 0 ROBERT KNIGHT 40.00 X 141505 0 8937 KATIE HIEDEMAN 40.00 X 56706 0 4445 198211 0 13382 1 0 1 0 0 193438 322176 3000 854438 254007 1373052 MUSEUM ADMISSIONS 900099 97157 97157 TUITION & EDUCATION 611600 91457 91457 EXHIBITIONS 900099 21209 21209 209823 40024 40024 203576 203576 203576 203576 392126 542165 364467 506894 27659 35271 62930 62930 665519 322176 551459 114060 114060 548225 322541 225684 225684 191866 96095 95771 95771 MISCELLANEOUS 900099 6006 6006 6006 2330926 311600 0 646274 222051 79225 87313 55513 882266 684265 68704 129297 10902 8611 1260 1031 76487 52759 5024 18704 85188 60843 10221 14124 28502 28502 122563 90879 27088 4596 51494 36680 19 14795 166255 75841 29410 61004 273989 206427 67562 42284 17161 9815 15308 3177 3177 190918 143188 47730 10600 5800 4800 ARTS & EXHIBITIONS 61537 61537 MISCELLANEOUS 36858 9717 7591 19550 EQUIPMENT 27362 5289 11809 10264 LECTURERS & PERFORMERS 18950 15675 3275 2311383 1557074 406848 347461 109273 149956 159233 66002 18401 25091 14813 13028 25657 34463 8657290 4768396 3920488 3888894 1148669 1643395 10717 13208 487100 9501 5894351 5843538 81023 88267 142113 129549 250000 473136 217816 X 3729659 3512131 470875 635965 1220681 1477626 5421215 5625722 5894351 5843538 X 19543 184964 X 0 1 1 X 0 X 731574 667007 1234103 1004918 1373052 5010654 377815 389150 400824 400824 400824 1969437 1109389 1056157 1634927 1405742 1773876 6980091 91258 6888833 253312 267347 220546 236869 243600 1221674 752945 774163 415035 376379 339744 2658266 10860031 3700098 0.63430 0.60090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 1 1390363 256945 252499 54484 1845323 1367516 29356 6509 1390363 1592142 -126421 98205 1367516 0.03000 0.80000 0.17000 1 0 5418679 2317472 3101207 1833512 1259568 573944 1023679 864132 159547 381420 327224 54196 3888894 2330926 2311383 19543 184964 184964 204507 3558472 184964 72487 257451 3301021 -970095 -970095 2330926 3353965 72487 970095 1042582 2311383 0 2311383 PART III, LINE 1A: THE COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE MUSEUM'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS DECREASES IN TEMPORARILY OR PERMANENTLY RESTRICTED NET ASSETS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. GIFTS OF CASH RESTRICTED BY DONORS FOR THE PURCHASE OF ART ARE REPORTED AS TEMPORARILY RESTRICTED NET ASSETS. CONTRIBUTED COLLECTION ITEMS AND REFERENCE BOOKS ARE NOT REFLECTED IN THE FINANCIAL STATEMENTS. DURING 2011, THE MUSEUM RECEIVED $647,375 OF CONTRIBUTED ART (UNAUDITED) NOT RECORDED IN ACCORDANCE WITH THEIR POLICY. PROCEEDS FROM DE-ACCESSIONS OR INSURANCE RECOVERIES, IF ANY, ARE REFLECTED AS INCREASES IN THE APPROPRIATE NET ASSET CLASSES. PART III, LINE 4: THE TUCSON MUSEUM OF ART AND HISTORIC BLOCK CONNECTS ART TO LIFE BY INSPIRING DISCOVERY, CREATIVITY, AND CULTURAL UNDERSTANDING THROUGH MEANINGFUL, ENGAGING EXPERIENCES. TO ACHIEVE ITS MISSION, THE TUCSON MUSEUM OF ART AND HISTORIC BLOCK PRESERVES AND INTERPRETS ITS COLLECTIONS OF ART OF THE AMERICAS, ART OF THE AMERICAN WEST, AND MODERN AND CONTEMPORARY AMERICAN ART; CARES FOR AND INTERPRETS FIVE SIGNIFICANT EL PRESIDIO HISTORIC PROPERTIES; AND PRODUCES RELATED EXHIBITIONS, EDUCATIONAL PROGRAMS, AND PUBLICATIONS WHICH EXPAND UNDERSTANDING AND APPRECIATION OF THESE UNIQUE COMMUNITY RESOURCES. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE MUSEUM'S ENDOWMENT CONSISTS OF THREE FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES TO INCLUDE BOTH INCOME AND COLLECTION PURPOSES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: FIN 48 (ASC 740) FINANCIAL STATEMENT FOOTNOTE: GAAP REQUIRES MANAGEMENT TO PERFORM AN EVALUATION OF ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE MUSEUM'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. THIS EVALUATION IS REQUIRED TO BE PERFORMED FOR ALL OPEN TAX YEARS, AS DEFINED BY THE VARIOUS STATUTES OF LIMITATIONS, FOR FEDERAL AND STATE PURPOSES. THE MUSEUM IS ONLY SUBJECT TO INCOME TAXES ON UBTI AS APPLICABLE. AS A RESULT, THE MUSEUM IS REQUIRED TO FILE INFORMATIONAL RETURNS FOR FEDERAL AND STATE PURPOSES AND, IF IT HAS UBTI, FEDERAL AND STATE INCOME TAX RETURNS. WITH LIMITED EXCEPTIONS, THE MUSEUM IS NO LONGER SUBJECT TO TAX EXAMINATION FOR ANY YEARS EARLIER THAN 2008 FOR FEDERAL AND 2007 FOR STATE. MANAGEMENT HAS PERFORMED ITS EVALUATION OF TAX POSITIONS TAKEN ON ALL OPEN TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. PART XII, LINE 4B - OTHER ADJUSTMENTS: DIRECT EXPENSES OF FUNDRAISING EVENTS -551,459. DIRECT EXPENSES OF GAMING ACTIVITIES -322,541. COST OF GOODS SOLD -96,095. PART XIII, LINE 2D - OTHER ADJUSTMENTS: DIRECT EXPENSES OF FUNDRAISING EVENTS 551,459. DIRECT EXPENSES OF GAMING ACTIVITIES 322,541. COST OF GOODS SOLD 96,095. CRAFT MARKET 378079 378079 279008 CRUSH 329494 267410 62084 15180 38448 1800 75091 10 280122 54766 225356 141932 987695 322176 665519 15180 38448 1800 496031 551459 114060 548225 269000 53541 0 548225 269000 53541 322541 225684 AZ 0 ARIZONA PERMITS ORGANIZATIONS EXEMPT UNDER ARS 43-1201, PARAGRAPH 1, 2, 4, 5, 6, 7, 10, OR 11 TO CONDUCT RAFFLES SUBJECT TO CERTAIN RESTRICTIONS: 1. NO MEMBER, DIRECTOR, OFFICER, EMPLOYEE OR AGENT OF THE ORGANIZATION MAY RECEIVE DIRECT OR INDIRECT BENEFIT FROM THE RAFFLE, OTHER THAN BEING ABLE TO PARTICIPATE IN THE RAFFLE ON AN EQUAL BASIS WITH ALL OTHER PARTICIPANTS. 2. THE ORGANIZATION HAS BEEN IN EXISTENCE CONTINUOUSLY IN THE STATE FOR A 5-YEAR PERIOD IMMEDIATELY BEFORE CONDUCTING THE RAFFLE. 3. NO PERSON EXCEPT A BONA FIDE LOCAL MEMBER OF THE ORGANIZATION MAY PARTICIPATE DIRECTLY OR INDIRECTLY IN THE MANAGEMENT, SALES OR OPERATION OF THE RAFFLE. THE TUCSON MUSEUM OF ART IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRC 501(C)(3), AND EXEMPT FROM ARIZONA INCOME TAX UNDER ARS 43-1201 PARAGRAPH 4. THEREFORE, IT IS PERMITTED TO CONDUCT RAFFLES SUBJECT TO THE ABOVE RESTRICTIONS. THE TUCSON MUSEUM OF ART DOES NOT ALLOW EMPLOYEES TO PURCHASE RAFFLE TICKETS. 0 1 0 1.00000 KATIE HIEDEMAN 140 N MAIN AVE TUCSON AZ 85701 0 KATIE HIEDEMAN 5880 OVERSIGHT AND RECORDKEEPING. X 0 X 1 1 X X 0 0 0 0 0 0 0 0 0 ROBERT KNIGHT 141505 0 0 0 0 0 4204 0 4733 0 150442 0 0 0 X 89 SEE PART II X 51962 SALES PRICE X 271 82045 SALES PRICE X DISPLAY CASES 1 120000 ESTIMATE FROM PRO 0 0 1 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS REPORTED REPRESENTS THE NUMBER OF ITEMS RECEIVED. NON REPORTING OF REVENUE: PART I, LINE 33: NO AMOUNT WAS REPORTED ON FORM 990, PART VIII, FOR DONATIONS OF ART BECAUSE THE MUSEUM DOES NOT CAPITALIZE ITS COLLECTIONS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S BYLAWS WERE AMENDED TO REFLECT MINOR CHANGES IN WORDING. SIGNIFICANTLY, THE BYLAWS WERE AMENDED TO ALLOW VOTES TO BE SUBMITTED BY E-MAIL BY TRUSTEES UNABLE TO ATTEND SPECIAL MEETINGS AND URGENT MEETINGS. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 IS PREPARED BY AN INDEPENDENT CPA AND PROVIDED TO THE CHIEF FINANCIAL OFFICER FOR REVIEW. AFTER THE CPA INCORPORATES ANY REVISIONS SUGGESTED BY THE CHIEF FINANCIAL OFFICER, A DRAFT IS PROVIDED TO ALL MEMBERS OF THE FINANCE COMMITTEE FOR REVIEW AND APPROVAL. AFTER THE FINANCE COMMITTEE APPROVES THE FORM 990, A COPY IS PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY REQUIRES DIRECTORS TO DISCLOSE POTENTIAL CONFLICTS. VOLUNTARY COMPLIANCE IS EXPECTED. IN ADDITION, ON AN ANNUAL BASIS, OFFICERS AND DIRECTORS ARE REQUIRED TO SIGN A STATEMENT ACKNOWLEDGING COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE POLICY COVERS ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD-DELEGATED POWERS. THE PROCEDURE FOR IDENTIFYING IF A CONFLICT EXISTS BEGINS WITH AN INTERESTED PERSON DISCLOSING THE EXISTENCE OF ANY FINANCIAL INTEREST AND ALL MATERIAL FACTS TO THE BOARD OR EXECUTIVE COMMITTEE. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR EXECUTIVE COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR EXECUTIVE COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. DISINTERESTED PERSONS OR A COMMITTEE MAY INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER TMA CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE BOARD OR EXECUTIVE COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN TMA'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE ORGANIZATION'S EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER IS DETERMINED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. THE INITIAL COMPENSATION PACKAGE OF THE ORGANIZATION'S EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER WAS DETERMINED USING COMPARABILITY DATA, AND IS REVISED ANNUALLY FOR COST OF LIVING INCREASES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION PUBLISHES ITS ANNUAL REPORT ON ITS WEBSITE, WHICH INCLUDES AUDITED FINANCIAL DATA. GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 184,964.