2026-07-07T14:09:48-05:00 2025-08-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2024-09-01 410693875 MINNESOTA ORCHESTRAL ASSOCIATION MINN 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 IVAN WINSHIP CFO 6123715600 2026-07-06 1 1 ANN NEIL P01817922 6123764500 2026-07-06 2024 2025-03-06 01:10:19Z IVAN WINSHIP 1111 NICOLLET MALL MINNEAPOLIS MN 55403 48511781 0 X WWW.MINNESOTAORCHESTRA.ORG X 1907 MN AN INTERNATIONALLY-RECOGNIZED ORCHESTRA DEDICATED TO ENRICHING AND SERVING MINNESOTA COMMUNITY. 78 78 748 737 660265 0 26683402 34087666 11034734 11304754 301516 630042 662689 946365 38682341 46968827 0 0 0 0 29902348 29500343 0 156264 2815205 15124230 14664607 45026578 44321214 -6344237 2647613 195825227 197523664 10274804 10375635 185550423 187148029 X THE MINNESOTA ORCHESTRA MISSION IS TO ENRICH, INSPIRE AND SERVE OUR COMMUNITY AS AN ENDURING SYMPHONY ORCHESTRA INTERNATIONALLY RECOGNIZED FOR ITS ARTISTIC EXCELLENCE. 0 0 35505665 0 10400551 THE GRAMMY AWARD-WINNING MINNESOTA ORCHESTRA IS RECOGNIZED FOR OUTSTANDING PERFORMANCES IN MINNESOTA AND AROUND THE WORLD, AS WELL AS FOR CRITICALLY-ACCLAIMED RECORDINGS, LIVESTREAMS, AND RADIO AND TV BROADCASTS, AND A LONGTIME COMMITMENT TO MUSIC EDUCATION AND ENGAGEMENT PROGRAMS.MORE THAN 230,000 GUESTS ATTENDED IN-PERSON MINNESOTA ORCHESTRA CONCERTS IN 2024-25, HAILING FROM 83 OF 87 MINNESOTA COUNTIES, ALL 50 STATES AND 24 COUNTRIES.THE 2024-25 SEASON WAS A YEAR IN WHICH MUSIC DIRECTOR THOMAS SUNDERGARD INTRODUCED SIGNATURE ARTISTIC PROJECTS RANGING FROM THE CRITICALLY ACCLAIMED NORDIC SOUNDSCAPES FESTIVAL AND OPERA-IN-CONCERT PERFORMANCES OF TURANDOT TO A NEW RECORDING PARTNERSHIP WITH PENTATONE. THE ORCHESTRA ALSO CELEBRATED PIANIST JON KIMURA PARKER'S FIVE-YEAR TENURE AS CREATIVE PARTNER FOR SUMMER AT ORCHESTRA; LAUNCHED AN INITIATIVE OFFERING THE ENSEMBLE'S COMPLETE CATALOGUE OF DIGITAL CONCERTS FOR FREE; AND MARKED THE 50TH ANNIVERSARY OF ORCHESTRA HALL, WHILE RENAMING ITS AUDITORIUM TO HONOR THE GENEROSITY OF LONG-TIME ORCHESTRA PHILANTHROPISTS NANCY AND JOHN LINDAHL. THE SEASON ALSO SAW PROGRESS IN THE DEVELOPMENT OF THE UPPER HARBOR AMPHITHEATER, THE 8,000-CAPACITY CONCERT VENUE ALONG THE MISSISSIPPI RIVER TO BE JOINTLY OPERATED BY FIRST AVENUE AND THE ORCHESTRA. WITH THE ORCHESTRA RAISING NEEDED PRIVATE FUNDS FROM A CONSORTIUM OF SUPPORTERS TO ADVANCE THE PUBLIC-PRIVATE PARTNERSHIP, MAYOR JACOB FREY AND THE MINNEAPOLIS CITY COUNCIL APPROVED THE PROJECT IN JULY. THE ORCHESTRA CONTINUED ITS PARTNERSHIP WITH TWIN CITIES PBS AND YOURCLASSICAL MPR TO PRODUCE THE BROADCAST AND LIVESTREAM SERIES THIS IS MINNESOTA ORCHESTRA. ACROSS THE SEASON THE ORCHESTRA PRODUCED FOUR LIVE CONCERTS FOR AUDIENCES AROUND THE WORLD AND OFFERED THEM FREE OF CHARGE ON TV, RADIO AND ONLINE STREAMING; MINNESOTA ORCHESTRA CONCERTS, PERFORMANCE EXCERPTS AND OTHER SHORTS ON YOUTUBE WERE VIEWED 828,293 TIMES IN THE LAST SEASON. IN TOTAL, THE ORCHESTRA'S RADIO BROADCASTS AND AUDIO STREAMING REACHED MORE THAN 2.5 MILLION PEOPLE.MINNESOTA ORCHESTRA YOUNG PEOPLE'S CONCERTS WELCOMED 28,194 STUDENTS FROM 232 SCHOOLS AND 91 CITIES ACROSS THE STATE TO EXPERIENCE CLASSICAL MUSIC AT ORCHESTRA HALL. THE ORCHESTRA'S RELAXED FAMILY CONCERTS AND SENSORY-FRIENDLY PROGRAMS REACHED THOUSANDS MORE CHILDREN AND THEIR PARENTS. AN ADDITIONAL 7,815 YOUNG PEOPLE ATTENDED CONCERTS FOR FREE, AS PART OF THE HALL PASS PROGRAM.IN JULY THE ORCHESTRA PRESENTED SUMMER AT ORCHESTRA HALL, A MULTI-WEEK FESTIVAL THAT BROUGHT AUDIENCES DOWNTOWN TO ROMANTIC ERA MUSIC, ALL CURATED BY PIANIST AND CREATIVE PARTNER JON KIMURA PARKER. WHETHER PERFORMING AT ORCHESTRA HALL, ACROSS THE METRO, ON A RECORDING OR A DIGITAL PLATFORM, THE MINNESOTA ORCHESTRA REMAINS COMMITTED TO BRINGING PEOPLE TOGETHER THROUGH MUSIC. 35505665 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 1 220 0 1 748 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 78 78 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MN WI X IVAN WINSHIP 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 BILL MILLER CHAIR 1.00 X X 0 0 0 LENI MOORE VICE CHAIR 1.00 X X 0 0 0 ANGELA PENNINGTON VICE CHAIR 1.00 X X 0 0 0 LLOYD KEPPLE VICE CHAIR 1.00 X X 0 0 0 AL LENZMEIER VICE CHAIR 1.00 X X 0 0 0 MARTY LUECK VICE CHAIR 1.00 X X 0 0 0 JEROME HAMILTON VICE CHAIR 1.00 X X 0 0 0 MARY LAWRENCE SECRETARY 1.00 X X 0 0 0 PATRICK MAHONEY TREASURER 1.00 X X 0 0 0 NANCY LINDAHL IMMEDIATE PAST CHAIR 1.00 X 0 0 0 DARREN ACHESON DIRECTOR 1.00 X 0 0 0 KAREN ASHE DIRECTOR 1.00 X 0 0 0 DOUG BAKER DIRECTOR 1.00 X 0 0 0 JEANNINE BEFIDI DIRECTOR 1.00 X 0 0 0 ANNIE BETTS DIRECTOR 1.00 X 0 0 0 ROCHELLE BLEASE DIRECTOR 1.00 X 0 0 0 MARGEE BRACKEN DIRECTOR 1.00 X 0 0 0 SHAMAYNE BRAMAN DIRECTOR 1.00 X 0 0 0 SARAH BREW DIRECTOR 1.00 X 0 0 0 BARBARA BURWELL DIRECTOR 1.00 X 0 0 0 ROMA CALATAYUD-STOCKS DIRECTOR 1.00 X 0 0 0 TIM CARL DIRECTOR 1.00 X 0 0 0 MARILYN CARLSON NELSON DIRECTOR 1.00 X 0 0 0 BRANDON CARMACK DIRECTOR 1.00 X 0 0 0 EVAN CARRUTHERS DIRECTOR 1.00 X 0 0 0 YVONNE CHEEK DIRECTOR 1.00 X 0 0 0 MARK COPMAN DIRECTOR 1.00 X 0 0 0 KATHY CUNNINGHAM DIRECTOR 1.00 X 0 0 0 JOHN DAYTON DIRECTOR 1.00 X 0 0 0 JON EISENBERG DIRECTOR 1.00 X 0 0 0 MIKE ELLIOTT DIRECTOR 1.00 X 0 0 0 BETSY FROST DIRECTOR 1.00 X 0 0 0 TIM GEOFFRION DIRECTOR 1.00 X 0 0 0 BARBARA GOLD DIRECTOR 1.00 X 0 0 0 LUELLA GOLDBERG DIRECTOR 1.00 X 0 0 0 KAREN GRANDSTRAND DIRECTOR 1.00 X 0 0 0 PAUL GRANGAARD DIRECTOR 1.00 X 0 0 0 JOE GREEN DIRECTOR 1.00 X 0 0 0 THOMAS HERR DIRECTOR 1.00 X 0 0 0 KAREN HIMLE DIRECTOR 1.00 X 0 0 0 DIANE HOFSTEDE DIRECTOR 1.00 X 0 0 0 MAURICE HOLLOMAN DIRECTOR 1.00 X 0 0 0 JULIE HOWE STEWART DIRECTOR 1.00 X 0 0 0 JAY IHLENFELD DIRECTOR 1.00 X 0 0 0 PHILIP ISAACSON DIRECTOR 1.00 X 0 0 0 MIKE JONES DIRECTOR 1.00 X 0 0 0 MICHAEL KLINGENSMITH DIRECTOR 1.00 X 0 0 0 ERIC LEVINSON DIRECTOR 1.00 X 0 0 0 MICHAEL LINDSAY DIRECTOR 1.00 X 0 0 0 RON LUND DIRECTOR 1.00 X 0 0 0 WARREN MACK DIRECTOR 1.00 X 0 0 0 MIKE MAESER DIRECTOR 1.00 X 0 0 0 LINDSEY MAIN DIRECTOR 1.00 X 0 0 0 KELLY MCQUEEN DIRECTOR 1.00 X 0 0 0 KITA MCVAY DIRECTOR 1.00 X 0 0 0 ANNE MILLER DIRECTOR 1.00 X 0 0 0 LINDA MURRELL DIRECTOR 1.00 X 0 0 0 TOM NEWTON DIRECTOR 1.00 X 0 0 0 MILUSKA NOVOTA DIRECTOR 1.00 X 0 0 0 CINDY OLMANSON DIRECTOR 1.00 X 0 0 0 LISA PARADIS DIRECTOR 1.00 X 0 0 0 CATHERINE R WEBSTER DIRECTOR 1.00 X 0 0 0 KARLA ROBERTSON DIRECTOR 1.00 X 0 0 0 MICHAEL ROOS DIRECTOR 1.00 X 0 0 0 ABIGAIL ROSE DIRECTOR 1.00 X 0 0 0 LAUREN ROUTHIER DIRECTOR 1.00 X 0 0 0 ERIC SNUSTAD DIRECTOR 1.00 X 0 0 0 GORDY SPRENGER DIRECTOR 1.00 X 0 0 0 MARY SUMNERS DIRECTOR 1.00 X 0 0 0 BRIAN TILZER DIRECTOR 1.00 X 0 0 0 ROZ TSAI DIRECTOR 1.00 X 0 0 0 BOB TUNHEIM DIRECTOR 1.00 X 0 0 0 ERIK VAN KUIJK DIRECTOR 1.00 X 0 0 0 LAYSHA WARD DIRECTOR 1.00 X 0 0 0 PATRICK WARFIELD DIRECTOR 1.00 X 0 0 0 JIM WATKINS DIRECTOR 1.00 X 0 0 0 JOHN WILGERS DIRECTOR 1.00 X 0 0 0 MICHELLE MILLER BURNS PRESIDENT & CEO 40.00 X 397690 0 30660 IVAN WINSHIP CFO 40.00 X 256432 0 40463 BRENT ASSINK INTERIM PRESIDENT & CEO 40.00 X 161789 0 0 CAROLYN EGEBERG VP OF ADVANCEMENT 40.00 X 246042 0 30141 ERIN KEEFE MUSICIAN 40.00 X 297397 0 32380 NATHAN HUGHES MUSICIAN 40.00 X 271730 0 14771 ROBERT WRIGHT MUSICIAN 40.00 X 195282 0 41479 FEI XIE MUSICIAN 40.00 X 191414 0 41423 SHERI NOTARO VP OF PEOPLE AND CULTURE 40.00 X 197083 0 39604 2214859 0 270921 78 0 1 0 THOMAS SUNDERGARD FREDERIK VIS ALLE 12 4TV FREDERIKSBERG DA DA 2000 MUSIC DIRECTOR 643000 OPUS 3 ARTISTS 348 WEST 57TH ST NEW YORK NY 10019 GUEST ARTISTS 230000 ARTIST MANAGEMENT PARTNERS WORLDWIDE 150 E 93RD ST NEW YORK NY 10128 GUEST ARTISTS 206875 CAMBRIDGE ASSOCIATES LLC 100 SUMMER ST BOSTON MA 02110 CONSULTING SERVICES 150000 ASYMM DIGITAL LLC 1960 BLUE OAKS BLVD SUITE 190 ROSEVILLE CA 95747 MARKETING 129780 8 761998 1660769 31664899 7611603 34087666 ORCHESTRA TICKETS 711130 8565878 8565878 ORCHESTRA SERVICE FEES 532000 1295995 1295995 RENTALS 711130 904203 904203 CONCESSIONS & FEES 711130 538678 538678 11304754 530230 -356142 886372 123758 123758 746094 7500 653782 0 92312 7500 99812 99812 695474 761998 593191 102283 102283 1016305 295981 720324 112204 608120 46968827 10400551 660265 1820345 1104216 1104216 21549593 18476480 1526197 1546916 2267835 1825886 269330 172619 2871396 2329082 322123 220191 1707303 1364129 214209 128965 111116 111116 116043 116043 68193 68193 156264 156264 661647 661647 1302211 747746 393104 161361 1801936 1502707 36798 262431 565886 158964 290568 116354 103328 18730 84598 553397 536773 16624 202989 136477 65191 1321 39375 9185 28830 1360 2002315 1983504 18811 791059 226739 550510 13810 DIRECT 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1000000 4000000 6000000 73849 55727 74275 68193 272044 250000 250000 250000 250000 1000000 1500000 PART I-A, LINE 1: TOTAL LOBBYING EXPENSES ARE RELATED TO DUES TO MINNESOTA CITIZENS FOR THE ARTS. 51612488 35000 503736 52151224 51881488 12109277 1040567 13418844 51612488 51752488 9851567 1308278 11030845 51881488 55884405 1549913 -2704195 2977635 51752488 41256488 21284654 2422833 9079570 55884405 0.00000 1.00000 0.00000 1 1 1 3006334 3006334 65243424 28563074 36680350 22270 11464 10806 7902804 6251234 1651570 27150 27150 41376210 115793716 F 115793716 UNFUNDED PENSION LIABILITY 2888762 CAPITAL LEASE 124657 3013419 X 45724548 879287 -1461919 -582632 46307180 661647 661647 46968827 44126942 467375 467375 43659567 661647 661647 44321214 PART V, LINE 4: THE ENDOWMENT FUND WAS CREATED BY DONORS WHO WANTED TO FUND ANNUAL ORCHESTRA ACTIVITIES INTO PERPETUITY. IF SO DESIGNATED BY THE DONOR, THESE GIFTS ARE CONSIDERED PERMANENT ENDOWMENTS, BUT INVESTMENT EARNINGS AND GROWTH ARE AVAILABLE TO SUPPORT ANNUAL ACTIVITIES. THE BOARD OF DIRECTORS HAS ADOPTED THE STANDARDS OF UPMIFA IN DETERMINING THE AMOUNT TAKEN FROM ENDOWMENTS EACH YEAR FOR ACTIVITIES. THE FINANCE COMMITTEE OF THE BOARD REVIEWS THE ANNUAL DRAW AMOUNT AS A PART OF THE BUDGET AND PLANNING PROCESS, AND THEN PRESENTS ITS FINDINGS TO THE BOARD OF DIRECTORS FOR APPROVAL. PART X, LINE 2: THE ASSOCIATION IS QUALIFIED AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC), AS AMENDED, AND SIMILAR STATUTES OF MINNESOTA LAW AND, ACCORDINGLY, IS GENERALLY NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. THE ASSOCIATION HAS BEEN CLASSIFIED AS A PUBLICLY SUPPORTED CHARITABLE ORGANIZATION UNDER SECTION 509(A)(1) OF THE IRC AND QUALIFIES FOR THE MAXIMUM CHARITABLE CONTRIBUTION DEDUCTION FOR DONORS. THE ASSOCIATION HAS ADOPTED GUIDANCE IN THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD. NO ADJUSTMENTS TO THE FINANCIAL STATEMENTS WERE REQUIRED AS A RESULT OF THE IMPLEMENTATION THIS STANDARD. THE ASSOCIATION HAS NO CURRENT OBLIGATION FOR UNRELATED BUSINESS INCOME TAX. THE ASSOCIATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -2,006,053. FUNDRAISING EXPENSES 544,134. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS -76,759. FUNDRAISER EXPENSE 544,134. X X X X X X X 1 BENNETT DIRECT PO BOX 0015 MILWAUKEE WI 53201 TELEPHONE CAMPAIGN 0 283042 156264 126778 283042 156264 126778 MN WI SYMPHONY BALL 1457472 761998 695474 49057 308359 6112 229664 1457472 761998 695474 49057 308359 6112 229664 593192 102282 1 X X X X 0 0 0 0 0 0 0 0 0 MICHELLE MILLER BURNS PRESIDENT & CEO 397690 0 0 0 0 0 13800 0 16860 0 428350 0 0 0 ERIN KEEFE MUSICIAN 297397 0 0 0 0 0 9879 0 22501 0 329777 0 0 0 IVAN WINSHIP CFO 256432 0 0 0 0 0 10591 0 29872 0 296895 0 0 0 NATHAN HUGHES MUSICIAN 271730 0 0 0 0 0 9879 0 4892 0 286501 0 0 0 CAROLYN EGEBERG VP OF ADVANCEMENT 246042 0 0 0 0 0 10093 0 20048 0 276183 0 0 0 ROBERT WRIGHT MUSICIAN 195282 0 0 0 0 0 9902 0 31577 0 236761 0 0 0 SHERI NOTARO VP OF PEOPLE AND CULTURE 197083 0 0 0 0 0 8079 0 31525 0 236687 0 0 0 FEI XIE MUSICIAN 191414 0 0 0 0 0 9879 0 31544 0 232837 0 0 0 BRENT ASSINK INTERIM PRESIDENT & CEO 161789 0 0 0 0 0 0 0 0 0 161789 0 0 0 X 32 7562546 FMV X AUCTION ITEMS 83 49057 FMV 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE CHAIR, THE CHAIR-ELECT, THE IMMEDIATE PAST CHAIR, THE PRESIDENT, THE SECRETARY, THE TREASURER, ANY SUCH OTHER OFFICERS AS THE BOARD MAY DESIGNATE, BOARD MEMBER COMMITTEE CHAIRS, AND, IN ADDITION TO SUCH PERSONS, UP TO THREE (3) AT LARGE MEMBERS SELECTED FROM THE REGULAR AND LIFE DIRECTORS. THE EXECUTIVE COMMITTEE, SUBJECT AT ALL TIMES TO THE CONTROL AND DIRECTION OF THE BOARD OF DIRECTORS, SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD. ONE-THIRD OF THE MEMBERS OF THIS COMMITTEE SHALL CONSTITUTE A QUORUM, AND THEY SHALL MEET AT SUCH TIMES AS THE CHAIR MAY APPOINT. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. MANAGEMENT AND THE AUDIT COMMITTEE REVIEWED IT IN DETAIL PRIOR TO FILING WITH THE IRS. THE AUDIT COMMITTEE CONSISTS ENTIRELY OF BOARD MEMBERS AND APPROVED THE FORM 990 ON BEHALF OF THE ENTIRE BOARD. THE FORM 990 IS PROVIDED ELECTRONICALLY TO THE ENTIRE BOARD OF DIRECTORS PRIOR TO THE FILING OF THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS ASKS EACH BOARD MEMBER TO REVIEW THE ASSOCIATION'S CONFLICT OF INTEREST POLICY AND SIGN A DISCLOSURE FORM LISTING ANY POSSIBLE CONFLICTS OF INTEREST. THE SIGNED FORMS ARE REVIEWED AND DISCUSSED BY THE GOVERNANCE COMMITTEE, WHICH DECIDES WHETHER A CONFLICT OF INTEREST EXISTS. IN THE EVENT OF A CONFLICT, THE DIRECTOR NOTIFIES THE BOARD CHAIR OF THE CONFLICT AND DISCLOSES ALL RELATED MATERIAL INFORMATION. THAT DIRECTOR MAY NOT PARTICIPATE IN THE BOARD'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL INFORMATION AND RESPOND TO QUESTIONS. THAT DIRECTOR MAY NOT PARTICIPATE IN THE VOTE CONCERNING WHETHER TO ACCEPT THE CONTRACT OR TRANSACTION RELATING TO THE CONFLICT. ALL BOARD MEETING PROCEEDINGS ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, THE COMPENSATION OF THE CEO IS REVIEWED AND DETERMINED BY THE COMPENSATION/HUMAN RESOURCES COMMITTEE. IN RELATION TO COMPENSATION, THE COMMITTEE KEEPS A PERMANENT RECORD OF PROCEEDINGS, INCLUDING A REPORT AND RECOMMENDATIONS, AS WELL AS ANY MAJOR DECISIONS. WHEN THERE IS A NEW CONTRACT, THE COMPENSATION/HUMAN RESOURCES COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE COMPENSATION, THEN RECOMMENDS IT FOR APPROVAL TO THE EXECUTIVE COMMITTEE AND THE FULL BOARD OF DIRECTORS. THE REVIEW PROCESS WAS LAST UNDERTAKEN IN 2023. ON AN ANNUAL BASIS, THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES, OTHER THAN THE CEO, IS REVIEWED AND DETERMINED BY THE CEO AND DIRECTOR OF HUMAN RESOURCES. LOCAL MARKET DATA AND INDUSTRY DATA ARE UTILIZED IN THE DETERMINATION. COMPENSATION IS DOCUMENTED IN PERSONNEL FILES. ANNUALLY, THE BOARD OF DIRECTORS APPROVES THE ANNUAL BUDGET WHICH INCLUDES ANY COMPENSATION CHANGES. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE SHARED UPON REQUEST WITH ANY ENTITY, INCLUDING INDIVIDUALS, FOUNDATIONS AND CORPORATIONS. THE FINANCIAL STATEMENTS ARE ALSO RELEASED TO THE PUBLIC IN A SUMMARIZED VERSION THROUGH AN ANNUAL REPORT AND THROUGH THE FORM 990, WHICH IS AVAILABLE ON THE INTERNET. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION & TRUST -2,006,053. CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS 76,759. 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