2024-11-15T12:28:13-06:00 2023-12-31 814234542 BPM LLP 10 ALMADEN BOULEVARD SUITE 1000 SAN JOSE CA 951132238 990 2023-01-01 941751440 SEMI SEMI 4089436900 673 SOUTH MILPITAS BOULEVARD MILPITAS CA 950355473 KEVIN BAUER CFO & BUS. OPERATIONS 4089436900 2024-11-14 1 0 TAMARA L MCINERNEY P00011797 4089616300 2024-11-14 2023 2024-10-15 13:58:12Z AJIT MANOCHA 673 SOUTH MILPITAS BOULEVARD MILPITAS CA 950355473 75113837 0 X HTTP://WWW.SEMI.ORG X 1970 CA SEE SCHEDULE O 18 17 116 8003 98548 0 12783347 8564442 41481327 57992898 4496542 3271972 3908299 5273072 62669515 75102384 0 0 0 0 20141131 26715573 0 0 0 36860983 32170152 57002114 58885725 5667401 16216659 97438240 125561245 54750906 65237724 42687334 60323521 X SEMI IS A NOT-FOR-PROFIT ORGANIZATION FORMED TO PROMOTE AND SUPPORT THE GLOBAL ELECTRONICS SUPPLY CHAIN. 0 0 SEMI'S PROGRAM IS TO SUPPORT THE GLOBAL ELECTRONICS SUPPLY CHAIN THROUGH TRADE SHOWS, CONFERENCES, SEMINARS, DEVELOPMENT OF INDUSTRY STANDARDS, ALONG WITH THE PUBLICATION OF MARKET AND INDUSTRY RESEARCH REPORTS. SEMI'S MARKET AND INDUSTRY RESEARCH REPORTS INCLUDE WORLD FAB FORECAST AND CAPITAL EQUIPMENT CONSENSUS FORECASTS. SEMI PARTNERS WITH A VARIETY OF ORGANIZATIONS TO DELIVER TECHNICAL CONTENT COVERING WAFER FABRICATION, ASSEMBLY, ADVANCE PACKAGING, YIELD IMPROVEMENT, METROLOGY, SEMICONDUCTOR PHYSICS, IC DESIGN, OPTICS, RELIABILITY, MEMS, LED, PV, AND FLEXIBLE HYBRID ELECTRONICS.ADDITIONALLY, SEMI FOCUSES ON THE EXTENDED SUPPLY CHAIN'S KEY CHALLENGES IN WORKFORCE DEVELOPMENT, SUSTAINABILITY, GLOBAL ADVOCACY AND SUPPLY CHAIN REDESIGN BY DELIVERING NEW PROGRAMS AND ORGANIZING INDUSTRY WORKING GROUPS TO JOINTLY FIND SOLUTIONS THROUGH COLLABORATION. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 X 70 0 1 116 1 1 1 1 CH KS JA IN BE GM TW SN UK 0 0 0 0 1 0 X 18 17 0 0 0 0 1 1 1 1 1 0 1 1 0 1 1 1 1 1 1 0 0 CA X KEVIN BAUER 4089436900 673 SOUTH MILPITAS BLVD MILPITAS CA 950355473 AJIT MANOCHA PRESIDENT & CEO 40.00 4.00 X X 1297516 0 1422015 BERTRAND LOY PAST CHAIRMAN 1.00 X X 0 0 0 CHUN HYUK LEE TRUSTEE 1.00 X 0 0 0 DAISUKE MURATA TRUSTEE 1.00 X 0 0 0 DORIS HSU TRUSTEE 1.00 X 0 0 0 ERIC JOHNSON TRUSTEE 1.00 X 0 0 0 JINRONG ZHAO TRUSTEE 1.00 X 0 0 0 JON D KEMP TRUSTEE 1.00 X 0 0 0 KAZUO USHIDA TRUSTEE 1.00 X 0 0 0 KYU DONG SUNG TRUSTEE 1.00 X 0 0 0 LI ZHENG TRUSTEE 1.00 X 0 0 0 MARY G PUMA CHAIRMAN 1.00 X X 0 0 0 MIKE ALLISON TRUSTEE 1.00 X 0 0 0 SUE LIN TRUSTEE 1.00 X 0 0 0 TIEN WU VICE CHAIRMAN 1.00 X X 0 0 0 TIM ARCHER TRUSTEE 1.00 X 0 0 0 TOSHIKI KAWAI TRUSTEE 1.00 X 0 0 0 YONG HAN LEE TRUSTEE 1.00 X 0 0 0 KEVIN BAUER CFO, BUSINESS OPERATIONS O 40.00 2.00 X 589921 0 591410 JOHN M COONEY VP, GLOBAL PUBLIC POLICY & ADVOCACY 40.00 X 465352 0 296411 BETTINA WEISS CHIEF OF STAFF 40.00 X 445957 0 349557 MELISSA GRUPEN-SHEMANSKY VP, TECHNOLOGY COMMUNITIES 40.00 X 412775 0 325349 JOSEPH STOCKUNAS PRESIDENT, SEMI AMERICAS 40.00 X 370488 0 297613 MOUSUMI BHAT VP, SUSTAINABILITY PROGRAMS 40.00 X 401083 0 303801 GERALDINE TAN VP, FINANCE 40.00 X 328123 0 280077 SHARI LISS EXECUTIVE DIRECTOR, SEMI F 8.00 32.00 X 338496 0 263724 TIM BROSNIHAN EXECUTIVE DIRECTOR, MSIG 40.00 X 337980 0 225380 VICKI JESKA SR. DIRECTOR, GLOBAL HUMAN RESOURCES 40.00 X 264228 0 218828 OLIVIER NAIMI PROJECT DIRECTOR, DIGITAL TRANSFORMATION 40.00 X 295613 0 138204 5547532 0 4712369 69 0 1 0 THE RESEARCH FOUNDATION FOR STATE UNIVER PO BOX 6000 BINGHAMTON NY 13092 GOVERNMENT PROJECT CONTRACTOR 2549291 CASE WESTERN RESERVE UNIVERSITY 10900 EUCLID AVE CLEVELAND OH 441067037 GOVERNMENT PROJECT CONTRACTOR 1316488 GEORGIA TECH RESEARCH CORPORATION PO BOX 100117 ATLANTA GA 30384 GOVERNMENT PROJECT CONTRACTOR 1111984 BIOLINQ INCORPORATED 10260 SORRENTO VALLEY ROAD SAN DIEGO CA 921211605 GOVERNMENT PROJECT CONTRACTOR 996158 GLOBAL EXPERIENCE SPECIALISTS INC 7000 LINDELL RD LAS VEGAS NV 89118 EVENT MARKETING, PLANNING SERVICES 942572 56 8564442 8564442 TRADESHOWS 541900 27645438 27645438 MEMBERSHIP DUES 541900 14285325 14285325 SPONSORSHIPS 541900 5972085 5972085 PUBLICATIONS 541900 5740857 5740857 CONFERENCES 541900 4309822 4309822 39371 39371 57992898 3283425 3283425 3656273 3656273 11453 -11453 -11453 -11453 OTHER INCOME 900099 1518251 1518251 ADVERTISING 541800 98548 98548 1616799 75102384 59511149 98548 6928245 6353277 17166778 986436 1083212 1125870 4498782 834102 493148 3639198 294621 547676 1972353 5212288 1206519 13168561 422344 206090 GOVERNMENT CONTRACT PAY 5706134 BANK AND FINANCIAL CHAR 544467 OTHER -350716 TAXES -6225415 58885725 73151975 96523670 3809174 5769054 2214160 2395882 7084740 5680908 1813922 1403832 1511621 1511621 14937388 17957186 97438240 125561245 23304153 15564971 3877827 4327943 27568926 45344810 54750906 65237724 X 42687334 60323521 42687334 60323521 97438240 125561245 X 16216659 -44278 1463806 X X 0 1 X 1 1 1 0 0 0 3536535 1101625 144576 1246201 884134 362067 3054575 1853065 1201510 941153 835090 106063 3089012 2992753 96259 1403832 INTERCOMPANY RECEIVABLES 14528424 VAT RECEIVABLES 1162 DEPOSIT 282177 RIGHT OF USE ASSET 3145423 17957186 ADVANCE DEPOSITS 37774401 POST-RETIREMENT BENEFITS 1313000 TAXES PAYABLE 821649 LEASE LIABILITY 3551038 LONG TERM INCENTIVE PAYABLE 1884722 45344810 PART X, LINE 2: SEMI IS A NOT-FOR-PROFIT ORGANIZATION RECOGNIZED BY THE IRS AND FTB AS EXEMPT FROM FEDERAL AND STATE INCOME TAXES IN THE UNITED STATES. HOWEVER, CERTAIN ACTIVITIES OF SUBSIDIARIES OR BRANCHES IN OTHER COUNTRIES, SUCH AS TRADE SHOWS, ARE SUBJECT TO FOREIGN INCOME TAXES OR OTHER TAXES ON INCOME GENERATED IN THEIR RESPECTIVE JURISDICTIONS. TAX EXPENSE WAS AS FOLLOWS FOR THE YEARS ENDED DECEMBER 31 (IN THOUSANDS): 2023 2022 CURRENT $1,692 $305 DEFERRED (69) (43) ------------------------------------------------------------ TOTAL INCOME TAXES 1,623 262 OTHER TAXES (5,208) 515 ------------------------------------------------------------ TOTAL TAXES $(3,585) $777 NET DEFERRED TAX ASSETS ARE INCLUDED IN PREPAIDS AND OTHER CURRENT ASSETS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AND APPROXIMATED $270,000 AND $299,000 AT DECEMBER 31, 2023 AND 2022 RESPECTIVELY. THE SOURCES RESULTING IN NET DEFERRED TAX ASSETS CONSIST PRINCIPALLY OF DEFERRED REVENUES AND DEFERRED EXPENSES RELATED TO EXHIBITIONS, ACCRUALS, AND DEPRECIATION. ADDITIONALLY, THE GROUP GENERATES UNRELATED BUSINESS INCOME, PRIMARILY FROM ITS ADVERTISING ACTIVITIES. THESE ACTIVITIES HAVE HISTORICALLY GENERATED LOSSES AND SEMI HAS ACCUMULATED NET OPERATING LOSS CARRYFORWARDS ("NOLS"). AS OF DECEMBER 31, 2023 AND 2022, SEMI HAD NOLS OF APPROXIMATELY $3,686,000 AND $4,276,000 RESPECTIVELY. THE NOLS WILL BEGIN TO EXPIRE AFTER THE YEAR ENDING DECEMBER 31, 2022. THE ABILITY TO UTILIZE THE NOLS OR REALIZE ANY BENEFITS IS UNCERTAIN, AND THEREFORE A FULL VALUATION ALLOWANCE HAS BEEN APPLIED AGAINST THEM. NO VALUATION ALLOWANCE OTHER THAN NOLS DESCRIBED IN THE PRECEDING PARAGRAPH WAS RECORDED AT DECEMBER 31, 2023 AND 2022, AS THE GROUP CONCLUDED THAT ALL OF THE DEFERRED TAX ASSETS WILL BE REALIZED IN FUTURE YEARS. NET DEFERRED ASSETS ARE RECORDED AS PREPAIDS AND OTHER CURRENT ASSETS ON THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION AND ANY CHANGE IS RECORDED IN NON-OPERATING EXPENSES ON THE CONSOLIDATED STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. ON DECEMBER 22, 2017, THE TAX CUTS AND JOBS ACT (THE "2017 TAX ACT") WAS ENACTED. THE 2017 TAX ACT INCLUDES A NUMBER OF CHANGES TO EXISTING U.S. TAX LAWS THAT IMPACT THE GROUP, MOST NOTABLY A REDUCTION OF THE U.S. CORPORATE INCOME TAX RATE FROM 35 PERCENT TO 21 PERCENT FOR TAX YEARS BEGINNING AFTER DECEMBER 31, 2017. THE GROUP MEASURES DEFERRED TAX ASSETS AND LIABILITIES USING ENACTED TAX RATES THAT WILL APPLY IN THE YEARS IN WHICH THE TEMPORARY DIFFERENCES ARE EXPECTED TO BE RECOVERED OR PAID. ACCORDINGLY, THE GROUP'S DEFERRED TAX ASSETS AND LIABILITIES WERE RE-MEASURED TO REFLECT THE REDUCTION IN THE U.S. CORPORATE INCOME TAX RATE FROM 35 PERCENT TO 21 PERCENT. THE GROUP'S TOTAL GROSS UNRECOGNIZED TAX BENEFITS ARE CLASSIFIED AS CURRENT AND NON-CURRENT LIABILITIES IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. AS OF DECEMBER 31, 2023 AND 2022, THE TOTAL AMOUNT OF GROSS UNRECOGNIZED TAX BENEFITS WAS APPROXIMATELY $412,000 AND $1,146,000, RESPECTIVELY, WHICH RESULTS ENTIRELY FROM FOREIGN TAXES. THE AGGREGATE CHANGES IN THE BALANCE OF GROSS UNRECOGNIZED TAX BENEFITS, WHICH INCLUDES INTEREST AND PENALTIES, ARE AS FOLLOWS (IN THOUSANDS): BALANCES AS OF JANUARY 1, 2022 $1,182 DECREASE RELATED TO EXPIRY OF STATUE OF LIMITATION (205) INCREASES RELATED TO TAX POSITIONS TAKEN DURING A PRIOR PERIOD 169 BALANCE AS OF DECEMBER 31, 2022 $1,146 DECREASED RELATED TO EXPIRY OF STATUE OF LIMITATION (735) INCREASES RELATED TO TAX POSITIONS TAKEN DURING A PRIOR PERIOD 1 BALANCE AS OF DECEMBER 31, 2023 $412 AS OF DECEMBER 31, 2023, THE GROUP HAS ANALYZED THE INVENTORY OF TAX POSITIONS TAKEN WITH RESPECT TO ALL APPLICABLE INCOME TAX ISSUES FOR ALL OPEN TAX YEARS (IN EACH RESPECTIVE JURISDICTION) INCLUDING TAX YEARS ENDED DECEMBER 31, 2019 THROUGH DECEMBER 31, 2023 FOR U.S. FEDERAL TAX PURPOSES AND TAX YEARS ENDED DECEMBER 31, 2018 THROUGH DECEMBER 31, 2023 FOR CALIFORNIA TAX PURPOSES (EXCEPT WITH RESPECT TO THE EXTENT OF NET OPERATING LOSSES FOR WHICH THE STATUTE IS OPEN FOR FEDERAL AND CALIFORNIA TAX PURPOSES FROM TAX YEAR DECEMBER 31, 2001) AND TAX YEARS ENDED DECEMBER 31, 2013 THROUGH DECEMBER 31, 2023 FOR FOREIGN TAX PURPOSES. AS OF DECEMBER 31, 2023 AND 2022, THE COMPOSITION OF UNRECOGNIZED TAX BENEFITS WAS AS FOLLOWS (IN THOUSANDS): 2023 2022 GROSS UNRECOGNIZED TAX BENEFITS - TAXES 304 707 GROSS UNRECOGNIZED TAX BENEFITS - INTEREST AND PENALTIES 108 439 BALANCE AS OF DECEMBER 31 $412 $1,146 THE GROUP DOES NOT ANTICIPATE A MATERIAL CHANGE TO ITS ACCRUED UNRECOGNIZED TAX BENEFITS IN THE TWELVE MONTHS FOLLOWING DECEMBER 31, 2023. SOUTH KOREA TAXES CERTAIN ACTIVITIES ENGAGED BY THE GROUP IN OTHER COUNTRIES, SUCH AS CONFERENCES AND EXPOSITIONS, ARE SUBJECT TO FOREIGN INCOME TAXES AND OTHER TAXES ON INCOME GENERATED IN THE RESPECTIVE JURISDICTIONS. EXPOSURE TO INCOME AND LOCAL TAXES IS DIRECTLY DEPENDENT ON WHETHER AN ENTITY HAS A TAXABLE PRESENCE, OR PERMANENT ESTABLISHMENT, WITHIN THE FOREIGN JURISDICTION. THE GROUP HAS DETERMINED THAT CONFERENCES AND EXPOSITIONS HELD IN SOUTH KOREA BY SEMI DID NOT CONSTITUTE A PERMANENT ESTABLISHMENT IN ACCORDANCE WITH THE PROVISIONS OF THE U.S. AND KOREA TAX TREATY OF 1976. WHILE THE INTERPRETATION OF THE U.S. AND KOREA TAX TREATY OF 1976 IS LEFT TO LOCAL KOREAN TAX AUTHORITIES, THE GROUP HELD THE POSITION THAT SUCH A CONCLUSION WOULD MORE LIKELY THAN NOT BE SUSTAINED AFTER AN AUDIT. IN 2009, SEMI KOREA WAS ESTABLISHED AS A SEPARATE LEGAL ENTITY FROM SEMI, AND A TRANSFER PRICING AGREEMENT WAS ENACTED BETWEEN SEMI AND SEMI KOREA. SEMI KOREA RECEIVES COMPENSATION FOR SERVICES PROVIDED, INCLUDING FOR EVENTS IN SOUTH KOREA, TO ENSURE TRANSACTIONS ENGAGED IN BETWEEN THE ENTITIES WERE CONDUCTED AT AN ARMSLENGTH AND DID NOT CREATE A PERMANENT ESTABLISHMENT IN SOUTH KOREA FOR SEMI. ACCORDINGLY, THE GROUP MAINTAINED THEIR ASSESSMENT THAT NO TAXES SHOULD BE ASSESSED ON CONFERENCES AND EXPOSITIONS HELD IN SOUTH KOREA, DUE TO A LACK OF A TAXABLE PRESENCE. IN AUGUST 2019, THE GROUP RECEIVED AN INQUIRY FROM THE SOUTH KOREAN NATIONAL TAX SERVICE ("NTS"). THE NTS SUBSEQUENTLY CHALLENGED THE GROUP'S POSITION, RULING THAT SEMI HAS A PERMANENT ESTABLISHMENT IN SOUTH KOREA. THE GROUP RESPONDED TO THE NTS INQUIRIES AND SUBSEQUENTLY RECEIVED NOTIFICATION IN MARCH 2020 OF AN INCOME TAX ASSESSMENT FOR THE 2012 TAX YEAR. AS REQUIRED BY THE NTS, THE GROUP PAID THE ASSESSMENT TO ALLOW THE GROUP TO BEGIN AN APPEAL PROCESS. THE GROUP WAS FURTHER NOTIFIED ADDITIONAL TAXES AND PENALTIES WOULD BE ASSESSED FOR 2013 THROUGH 2019 TAX YEARS. AS A CONSEQUENCE OF THIS RULING, THE GROUP ACCRUED INCOME TAXES, VALUE ADDED TAXES ("VAT") AND PENALTIES FOR THE YEARS FROM 2012 THROUGH 2019 FOR APPROXIMATELY $6,946,000 AS OF DECEMBER 31, 2019, WHICH WERE PAID IN 2020. THE GROUP DID NOT ACCRUE ANY ADDITIONAL TAXES AND PENALTIES RELATED TO THIS MATTER IN SUBSEQUENT YEARS AS THE GROUP BELIEVES THAT ITS ACTIVITIES IN SOUTH KOREA DO NOT CREATE A PERMANENT ESTABLISHMENT AND APPEALED THE ASSESSMENT. IN FEBRUARY 2023, NTS RULED IN FAVOR OF THE GROUP'S APPEAL OF THE SOUTH KOREA TAX ASSESSMENT, RULING THAT THE GROUP DOES NOT HAVE A PERMANENT ESTABLISHMENT IN SOUTH KOREA. IN MARCH 2023, NTS REFUNDED CUMULATIVE TAXES, INTEREST AND PENALTIES ASSESSED IN RELATION TO THIS MATTER, WHICH APPROXIMATED $6,492,000 AS OF THE DATE OF REFUND. THE REFUND WAS RECORDED AS A TAX BENEFIT FOR THE YEAR ENDED DECEMBER 31, 2023 IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS. EAST ASIA AND THE PACIFIC 1 16 PROGRAM SERVICES TRADE SHOWS, INDUSTRY STANDARDS & RESEARCH, EDUCATION 14580791 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES TRADE SHOWS, INDUSTRY STANDARDS & RESEARCH, EDUCATION 3384597 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS INVESTMENTS 815608 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS INVESTMENTS 37800 SOUTH ASIA 0 0 INVESTMENTS INVESTMENTS 658213 1 16 0 0 1 16 19477009 0 19477009 0 0 1 0 0 0 1 X X X X X 0 0 0 AJIT MANOCHA PRESIDENT & CEO 716311 0 537600 0 43605 0 1382850 0 39165 0 2719531 0 537600 0 KEVIN BAUER CFO, BUSINESS OPERATIONS O 381930 0 200000 0 7991 0 563100 0 28310 0 1181331 0 200000 0 BETTINA WEISS CHIEF OF STAFF 306588 0 135000 0 4369 0 322073 0 27484 0 795514 0 135000 0 JOHN M COONEY VP, GLOBAL PUBLIC POLICY & ADVOCACY 333139 0 130000 0 2213 0 268100 0 28311 0 761763 0 130000 0 MELISSA GRUPEN-SHEMANSKY VP, TECHNOLOGY COMMUNITIES 306418 0 100000 0 6357 0 305638 0 19711 0 738124 0 100000 0 MOUSUMI BHAT VP, SUSTAINABILITY PROGRAMS 299707 0 97000 0 4376 0 296223 0 7578 0 704884 0 0 0 JOSEPH STOCKUNAS PRESIDENT, SEMI AMERICAS 294078 0 70000 0 6410 0 268292 0 29321 0 668101 0 70000 0 GERALDINE TAN VP, FINANCE 232514 0 94000 0 1609 0 271563 0 8514 0 608200 0 94000 0 SHARI LISS EXECUTIVE DIRECTOR, SEMI F 261264 0 75000 0 2232 0 261600 0 2124 0 602220 0 75000 0 TIM BROSNIHAN EXECUTIVE DIRECTOR, MSIG 258453 0 77187 0 2340 0 195649 0 29731 0 563360 0 77187 0 VICKI JESKA SR. DIRECTOR, GLOBAL HUMAN RESOURCES 212990 0 43000 0 8238 0 198440 0 20388 0 483056 0 0 0 OLIVIER NAIMI PROJECT DIRECTOR, DIGITAL TRANSFORMA 234724 0 58750 0 2139 0 106678 0 31526 0 433817 0 0 0 SCHEDULE J, PART II COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN F REPRESENTS AMOUNTS THAT WERE REPORTED ON PRIOR YEARS' FORMS 990 AS THE BENEFITS WERE ACCRUED. THESE AMOUNTS ARE ALSO REPORTED ON SCHEDULE J, PART II, COLUMB B(II) AS THEY WERE ALSO REPORTABLE ON THE CURRENT YEAR'S FORMS W-2 FOR THE AFFECTED INDIVIDUALS. THE AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN F SHOULD BE SUBTRACTED FROM THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN E TO ARRIVE AT THE ACTUAL COMPENSATION FOR THE CURRENT YEAR. FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: SEMI IS A NOT-FOR-PROFIT ORGANIZATION FORMED TO PROMOTE AND SUPPORT THE GLOBAL ELECTRONICS SUPPLY CHAIN. SEMI MEMBERS CONSIST OF CORPORATIONS, COMPANIES, FIRMS, OR ORGANIZATIONS, OR DEPARTMENTS OR SUBDIVISIONS THEREOF, WHOSE INTEREST OR CORPORATE OBJECTIVE IS IN THE GLOBAL ELECTRONICS SUPPLY CHAIN; PROVIDED THAT SUCH ENTITIES SHALL NOT BECOME VOTING MEMBERS EXCEPT UPON PAYMENT OF SUCH INITIATION FEES AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 6 SEMI MEMBERS CONSIST OF CORPORATIONS, COMPANIES, FIRMS, OR ORGANIZATIONS, OR DEPARTMENTS OR SUBDIVISIONS THEREOF, WHOSE INTEREST OR CORPORATE OBJECTIVE IS IN THE GLOBAL ELECTRONIC SUPPLY CHAIN; PROVIDED THAT SUCH ENTITIES SHALL NOT BECOME VOTING MEMBERS EXCEPT UPON PAYMENT OF SUCH INITIATION FEES AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7A EACH VOTING MEMBER IN GOOD STANDING IS ENTITLED TO VOTE FOR THE ELECTION OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B VOTING MEMBERS HAVE THE POWER TO AMEND THE ARTICLES OF INCORPORATION AND CORPORATE BYLAWS OF SEMI AND MAY HAVE OTHER POWERS CONFERRED BY THE NONPROFIT PUBLIC BENEFIT CORPORATION LAW OF THE STATE OF CALIFORNIA. FORM 990, PART VI, SECTION B, LINE 11B BPM LLP AND SEMI STAFF WORK TOGETHER TO GATHER THE REQUIRED TAX INFORMATION NECESSARY TO COMPLETE THE TAX RETURNS. THE INITIAL DRAFT RETURN IS REVIEWED BY BPM AND SEMI FINANCE STAFF; ITEMS ARE DISCUSSED AND REVIEWED. RECOMMENDED CHANGES ARE REFLECTED IN THE RETURN AND A DRAFT TAX RETURN IS PREPARED. THE FINANCE COMMITTEE RECEIVES THE FINAL VERSION OF THE TAX RETURN FOR REVIEW PRIOR TO FILING. THE BOARD HAS DELEGATED MONITORING AND REVIEW OF FINANCIAL MATTERS TO THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C SEMI HAS A CODE OF CONDUCT POLICY, WHICH INCLUDES THE CONFLICT OF INTEREST POLICY. SEMI HAS REVIEWED THIS POLICY WITH ALL EMPLOYEES, OFFICERS AND DIRECTORS AND OBTAINED THEIR COMMITMENT TO ABIDE BY IT. FORM 990, PART VI, SECTION B, LINE 15A IN CONJUNCTION WITH AN INTERNATIONAL BOARD OF DIRECTORS MEETING EACH YEAR, THE BOARD COMPENSATION COMMITTEE MEETS WITH THE PRESIDENT AND CEO AND CFO. BASED UPON SALARY SURVEY INFORMATION AND THE USE OF AN INDEPENDENT COMPENSATION CONSULTANT, THEY PRESENT RECOMMENDED MERIT INCREASES ON A REGIONAL BASIS FOR APPROVAL BY THE BOARD COMPENSATION COMMITTEE. ONCE APPROVED, THE SEMI EXECUTIVE AND STAFF MERIT INCREASES ARE ADMINISTERED BY FUNCTIONAL LEADERSHIP THROUGH THE PERFORMANCE MANAGEMENT SYSTEM WITH FINAL APPROVAL BY THE PRESIDENT AND CEO. THE CEO'S ANNUAL COMPENSATION ADJUSTMENT IS DISCUSSED PRIVATELY WITH THE BOARD COMPENSATION COMMITTEE AND THE CFO. A REVIEW OF THE CEO'S GOALS AND ACCOMPLISHMENTS IS ACCOMPANIED BY A RECOMMENDED COMPENSATION ADJUSTMENT BASED ON INDEPENDENT SALARY SURVEYS. THE BOARD COMPENSATION COMMITTEE THEN MEETS IN CLOSED SESSION TO REVIEW THIS INFORMATION AND DETERMINE AN APPROPRIATE PERFORMANCE RATING AND THE ACCOMPANYING BONUS AND MERIT INCREASE. FORM 990, PART VI, SECTION C, LINE 18 SEMI MAKES ITS FORMS 990 AND 990-T AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 SEMI MAKES ITS AUDITED FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CURRENCY EXCHANGE 1,356,389. CHANGE IN TRANSLATION RESERVES 252,133. CHANGE IN PENSION ACCRUAL -144,716. FORM 990, PART XII, LINE 2C NO CHANGE IN PROCESS FROM THE PRIOR YEAR. SEMI FOUNDATION 673 SOUTH MILPITAS BOULEVARD MILPITAS CA 950355473 300155873 EDUCATION PROGRAMS CA 501(C)(3) LINE 7 SEMI 1 SEMI JAPAN YK 1-4-1 MARUNOUCHI MARUNOUCHI EIRAKU TOKYO JA 102-0074 TRADE ASSOCIATION JA SEMI C 10757224 14624195 1.00000 1 SEMI SOUTHEAST ASIA PTE LTD 152 BEACH ROAD 09-03/04 GATEWAY E SINGAPORE SN 189721 TRADE ASSOCIATION SN SEMI C 3410150 3804239 1.00000 1 SEMI MANAGEMENT CONSULTING (SHANGHAI) CO LTD SUITE 803 2ND BUILDING 1158 ZHANG PUDONG SHANGHAI CH 201203 TRADE ASSOCIATION CH SEMI C 17395067 18243596 1.00000 1 SEMI TECH SERVICES INDIA PRIVATE LIMITED DBS HOUSE SUITE 217 26 CUNNINGH BANGALORE IN 560052 TRADE ASSOCIATION IN SEMI C 53801 63589 1.00000 1 SEMI KOREA KOREA WORLD TRADE TOWER 4205 159-1 SEOUL KS 135-729 TRADE ASSOCIATION KS SEMI C 1817403 4070267 1.00000 1 SEMI EUROPE GMBH HELMHOLTZSTRASSE 2-9 CHARLOTTENBUR BERLIN GM 10587 TRADE ASSOCIATION GM SEMI C 4387843 4576388 1.00000 1 1 0 0 1 0 1 0 0 0 0 0 1 1 1 1 0 1 0 0 SEMI JAPAN YK A 3656273 COST SEMI JAPAN YK D 10544327 COST SEMI SOUTHEAST ASIA PTE LTD D 2005557 COST SEMI TECH SERVICES INDIA PRIVATE LIMITED D 37666 COST SEMI SOUTHEAST ASIA PTE LTD L 620939 COST SEMI JAPAN YK M 32437 COST SEMI EUROPE GMBH M 2661412 COST SEMI KOREA M 1749415 COST SEMI TECH SERVICES INDIA PRIVATE LIMITED M 55454 COST SEMI FOUNDATION O 1784433 COST SEMI FOUNDATION Q 145130 COST SEMI MANAGEMENT CONSULTING (SHANGHAI) CO LTD F 1397761 COST