2023-07-17T15:57:48-05:00 2022-08-31 410746749 CLIFTONLARSONALLEN LLP 8215 GREENWAY BOULEVARD SUITE 600 MIDDLETON WI 53562 990 2021-09-01 410693875 MINNESOTA ORCHESTRAL ASSOCIATION MINN 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 IVAN WINSHIP VP OF FINANCE AND ADMIN 6123715600 2023-07-13 1 IVAN WINSHIP 999009999 KIMBERLY ANDERSON P00188889 6086628600 2023-07-13 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z MICHELLE MILLER BURNS 1111 NICOLLET MALL MINNEAPOLIS MN 55403 67834479 0 X WWW.MINNESOTAORCHESTRA.ORG X 1907 MN AN INTERNATIONALLY-RECOGNIZED ORCHESTRA DEDICATED TO ENRICHING AND SERVING MINNESOTA COMMUNITY. 67 66 489 499 244478 611468 19627033 53132562 640169 8060704 252131 697660 -142209 8687 20377124 61899613 0 0 0 0 18919235 27358616 0 0 2621165 8464051 14190177 27383286 41548793 -7006162 20350820 197157638 203262521 16763873 19601332 180393765 183661189 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 34010120 0 7816226 THE GRAMMY AWARD-WINNING MINNESOTA ORCHESTRA, LED BY MUSIC DIRECTOR OSMO VNSK, IS RECOGNIZED FOR OUTSTANDING PERFORMANCES IN MINNESOTA AND AROUND THE WORLD, AS WELL AS FOR CRITICALLY-ACCLAIMED RECORDINGS AND RADIO BROADCASTS, AND A LONGTIME COMMITMENT TO STATE-WIDE MUSIC EDUCATION AND ENGAGEMENT PROGRAMS.THE 2021-22 SEASON MARKED A RETURN TO MORE TYPICAL CONCERT OPERATIONS FOLLOWING THE PANDEMIC, WITH THE ORCHESTRA OFFERING 110 REGULAR WEEKLY PERFORMANCES FOR IN-PERSON AUDIENCES. THE SEASON ALSO MARKED OSMO VNSK'S FINAL YEAR AS MUSIC DIRECTOR, FOLLOWING A 19-YEAR TENURE, AND MUCH OF THE SEASON WAS DEDICATED TO A CELEBRATION OF HIS ACCLAIMED LEADERSHIP, WITH HIGHLIGHTS INCLUDING A MONTH-LONG SIBELIUS FESTIVAL AND PERFORMANCES AND RECORDINGS OF MAHLER'S EIGHTH AND NINTH SYMPHONIES. THE ORCHESTRA CONTINUED ITS PARTNERSHIP WITH TWIN CITIES PBS AND YOURCLASSICAL MPR TO CREATE THE BROADCAST AND LIVESTREAM SERIES THIS IS MINNESOTA ORCHESTRA. ACROSS THE SEASON THE ORCHESTRA PRODUCED 11 LIVE CONCERTS FOR AUDIENCES AROUND THE WORLD AND DEBUTED THEM FREE OF CHARGE ON TV, RADIO AND ONLINE STREAMING; IN TOTAL THE ORCHESTRA'S DIGITAL CONCERTS RECEIVED OVER 300,000 DIGITAL AND BROADCAST VIEWS DURING THE 2021-22 SEASON. THE MINNESOTA ORCHESTRA ANNUALLY CONNECTS WITH MORE THAN 85,000 MUSIC LOVERS THROUGH FAMILY CONCERTS AND EDUCATIONAL PROGRAMS INCLUDING ITS FLAGSHIP YOUNG PEOPLE'S CONCERTS, WHICH WERE FIRST LAUNCHED IN 1911 AND HAVE HELPED TO LIGHT A SPARK FOR CLASSICAL MUSIC WITH GENERATIONS OF STUDENTS. IN THE 2021-22 SEASON, THE ORCHESTRA OFFERED THESE YOUNG PEOPLE'S CONCERTS IN DIGITAL FORMATS, AS PANDEMIC RESTRICTIONS CONTINUED TO MAKE SCHOOL FIELD TRIPS CHALLENGING. THE DIGITAL BROADCASTS REMAIN AVAILABLE AT NO COST ON THE ORCHESTRA'S WEBSITE. IN JULY THE ORCHESTRA LAUNCHED A NEW SUMMER FESTIVAL CALLED SUMMER AT ORCHESTRA HALL, WHICH FEATURED PERFORMANCES INDOORS AND OUT THAT DREW 25,000 PEOPLE TO DOWNTOWN MINNEAPOLIS OVER FOUR WEEKS. CURATED BY PIANIST AND CREATIVE PARTNER JON KIMURA PARKER, THE PROGRAMMING EXPLORED "THE BEETHOVEN INFLUENCE." ALTHOUGH TOURING WAS NOT POSSIBLE IN FISCAL 2022 DUE TO THE LINGERING EFFECTS OF THE PANDEMIC, THE ORCHESTRA HAS A LONG HISTORY OF TOURING THROUGHOUT GREATER MINNESOTA AND BEYOND. IN ITS INTERNATIONAL TOURING, THE ORCHESTRA SHARES THE NAME OF ITS STATE WITH BROAD WORLD-WIDE AUDIENCES. WHETHER PERFORMING AT ORCHESTRA HALL, IN GREATER MINNESOTA OR ON AN INTERNATIONAL STAGE, THE MINNESOTA ORCHESTRA REMAINS COMMITTED TO BRINGING PEOPLE TOGETHER THROUGH MUSIC.AT THE END OF THE 2021-22 SEASON, THE ORCHESTRA ANNOUNCED ITS NEXT MUSIC DIRECTOR: DANISH CONDUCTOR THOMAS SNDERGRD. 34010120 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 0 1 1 1 0 0 1 145 0 1 489 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 67 66 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN WI X IVAN WINSHIP 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 JOSEPH T GREEN CHAIR 1.00 X X 0 0 0 NANCY E LINDAHL CHAIR ELECT 1.00 X X 0 0 0 JEROME D HAMILTON JR VICE CHAIR 1.00 X X 0 0 0 KITA MCVAY VICE CHAIR 1.00 X X 0 0 0 WILLIAM P MILLER VICE CHAIR 1.00 X X 0 0 0 TIMOTHY WELSH VICE CHAIR (THROUGH JAN 22) 1.00 X X 0 0 0 EVAN CARRUTHERS TREASURER 1.00 X X 0 0 0 DR KAREN HSIAO ASHE SECRETARY 1.00 X X 0 0 0 MARGARET A BRACKEN IMMEDIATE PAST CHAIR (THROUGH JAN 22) 1.00 X X 0 0 0 ABIGAIL ROSE DIRECTOR 1.00 X 0 0 0 AKS ZAHEER DIRECTOR 1.00 X 0 0 0 ALLEN U LENZMEIER DIRECTOR 1.00 X 0 0 0 ANGELA S PENNINGTON DIRECTOR 1.00 X 0 0 0 ANNE W MILLER DIRECTOR 1.00 X 0 0 0 BARBARA BURWELL DIRECTOR 1.00 X 0 0 0 BARBARA GOLD DIRECTOR 1.00 X 0 0 0 BETSY FROST DIRECTOR 1.00 X 0 0 0 BETTY MYERS LIFE DIRECTOR 1.00 X 0 0 0 BRIAN TILZER DIRECTOR 1.00 X 0 0 0 CATHERINE R WEBSTER DIRECTOR 1.00 X 0 0 0 CINDY OLMANSON DIRECTOR 1.00 X 0 0 0 DARREN ACHESON DIRECTOR 1.00 X 0 0 0 DIANE HOFSTEDE DIRECTOR 1.00 X 0 0 0 DOUGLAS M BAKER JR DIRECTOR 1.00 X 0 0 0 DR ERIK VAN KUIJK DIRECTOR 1.00 X 0 0 0 DR JAKOB TOLAR DIRECTOR 1.00 X 0 0 0 DR MARY G LAWRENCE DIRECTOR 1.00 X 0 0 0 DR Y RALPH CHU DIRECTOR (THROUGH JAN 22) 1.00 X 0 0 0 DR YVONNE CHEEK DIRECTOR 1.00 X 0 0 0 E TIM CARL DIRECTOR 1.00 X 0 0 0 EMILY BACKSTROM DIRECTOR 1.00 X 0 0 0 ERIC LEVINSON DIRECTOR 1.00 X 0 0 0 GORDON M SPRENGER LIFE DIRECTOR 1.00 X 0 0 0 JAMES WATKINS DIRECTOR 1.00 X 0 0 0 JAY V IHLENFELD DIRECTOR 1.00 X 0 0 0 JOHN F FARRELL JR DIRECTOR (THROUGH JAN 22) 1.00 X 0 0 0 JOHN W DAYTON DIRECTOR 1.00 X 0 0 0 JOHN WILGERS DIRECTOR 1.00 X 0 0 0 JONATHAN EISENBERG DIRECTOR 1.00 X 0 0 0 JULIE HAIGHT-CURRAN DIRECTOR 1.00 X 0 0 0 KAREN HIMLE DIRECTOR 1.00 X 0 0 0 KATE T KELLY DIRECTOR 1.00 X 0 0 0 KATHY CUNNINGHAM LIFE DIRECTOR 1.00 X 0 0 0 KATHY JUNEK DIRECTOR 1.00 X 0 0 0 LAURIE HODDER GREENO DIRECTOR 1.00 X 0 0 0 LAYSHA WARD DIRECTOR 1.00 X 0 0 0 LENI MOORE DIRECTOR 1.00 X 0 0 0 LISA PARADIS DIRECTOR 1.00 X 0 0 0 LLOYD KEPPLE DIRECTOR 1.00 X 0 0 0 LUELLA G GOLDBERG LIFE DIRECTOR 1.00 X 0 0 0 MARILYN CARLSON NELSON LIFE DIRECTOR 1.00 X 0 0 0 MARK D COPMAN DIRECTOR 1.00 X 0 0 0 MARTIN R LUECK DIRECTOR 1.00 X 0 0 0 MARY SUMNERS DIRECTOR 1.00 X 0 0 0 MAURICE HOLLOMAN DIRECTOR 1.00 X 0 0 0 MICHAEL A LINDSAY DIRECTOR 1.00 X 0 0 0 MICHAEL KIM DIRECTOR 1.00 X 0 0 0 MICHAEL KLINGENSMITH DIRECTOR 1.00 X 0 0 0 MICHAEL M ROOS DIRECTOR 1.00 X 0 0 0 MICHAEL S JONES DIRECTOR 1.00 X 0 0 0 MIKE ELLIOTT DIRECTOR 1.00 X 0 0 0 MILUSKA NOVOTA DIRECTOR 1.00 X 0 0 0 PATRICK G MAHONEY DIRECTOR 1.00 X 0 0 0 PAUL D GRANGAARD LIFE DIRECTOR 1.00 X 0 0 0 PAULA DECOSSE DIRECTOR 1.00 X 0 0 0 PHILIP ISAACSON DIRECTOR 1.00 X 0 0 0 ROCHELLE F BLEASE DIRECTOR (THROUGH JAN 22) 1.00 X 0 0 0 ROMA CALATAYUD-STOCKS DIRECTOR 1.00 X 0 0 0 RONALD E LUND LIFE DIRECTOR 1.00 X 0 0 0 SARAH BREW DIRECTOR 1.00 X 0 0 0 THOMAS HERR DIRECTOR 1.00 X 0 0 0 TIM GEOFFRION DIRECTOR 1.00 X 0 0 0 WARREN E MACK LIFE DIRECTOR 1.00 X 0 0 0 WILLIAM S HENAK DIRECTOR 1.00 X 0 0 0 MICHELLE MILLER BURNS PRESIDENT & CEO 40.00 X 366831 0 25454 IVAN WINSHIP VP OF FINANCE & ADMINISTRA 40.00 X 268813 0 36707 CAROLYN EGEBERG VP OF ADVANCEMENT 40.00 X 267395 0 36731 OSMO VANSKA MUSIC DIRECTOR 40.00 X 701465 0 18204 ERIN KEEFE MUSICIAN 40.00 X 231455 0 9541 ROBERT WRIGHT MUSICIAN 40.00 X 154083 0 33868 FEI XIE MUSICIAN 40.00 X 151930 0 33844 BETH KELLAR-LONG VP OF ORCHESTRA ADMINISTRATION 40.00 X 148510 0 32213 2290482 0 226562 52 0 1 0 AUDIO LOGIC SYSTEMS 7512 WASHINGTON AVE S EDEN PRAIRIE MN 55344 PRODUCTION SUPPORT 409718 G&I IX OIC LLC 220 EAST 42ND ST NEW YORK NY 10017 BUILDING RENTAL 278824 CAMBRIDGE ASSOCIATES LLC PO BOX 412015 BOSTON MA 02241 INVESTMENT MANAGEMENT 200000 LOGICALLY 401 N 3RD ST 250 MINNEAPOLIS MN 55401 TECHNOLOGY SUPPORT 135439 SALO LLC PO BOX 1414 MINNEAPOLIS MN 55480 TEMPORARY STAFFING 115713 6 1028083 2952988 4920749 44230742 4128718 53132562 ORCHESTRA TICKETS 711130 5756895 5756895 ORCHESTRA SERVICE FEES 532000 1075630 1075630 CONCESSIONS & FEES 711130 983701 983701 RENTALS 711130 244478 244478 8060704 894050 894050 46841 46841 5116287 5312677 -196390 -196390 -196390 179025 1028083 296230 -117205 -117205 405010 325959 79051 79051 61899613 7816226 244478 706347 1123844 1123844 20678393 18163936 932425 1582032 123337 123337 3842311 3264253 283008 295050 1590731 1330442 144411 115878 38549 38549 71009 71009 73849 73849 722391 722391 1704528 963928 487588 253012 1768077 1507582 31537 228958 360398 260921 60220 39257 45181 925 44256 638444 580236 58208 86647 68184 11887 6576 34562 24575 6724 3263 2047680 2028869 18811 360558 39742 320816 DIRECT CONCERT EXPENSES 4868568 4868568 EQUIPMENT 604778 590821 13957 FINANCING COSTS 211254 211254 MEMBERSHIPS & SUBSCRIPT 202198 63069 137494 1635 351506 130732 125270 95504 41548793 34010120 4917508 2621165 4316960 379578 4140787 4289883 12411310 308078 408734 156323 121046 1048067 930707 79030950 32627248 47916752 46403702 37600353 27775574 100990621 110160482 530601 530601 197157638 203262521 1969161 2186428 5631596 4337400 4503852 3238495 2500000 7500000 2159264 2339009 16763873 19601332 X -18062454 -22994989 198456219 206656178 180393765 183661189 197157638 203262521 X 20350820 -3015310 -14068086 X 0 1 X 1 0 X 19956070 34396080 15467014 19627033 53132562 142578759 19956070 34396080 15467014 19627033 53132562 142578759 5810846 136767913 698273 790856 1618109 702214 938783 4748235 9568 246586 256154 147583148 35209839 0.92670 0.89510 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 73849 73849 41548789 41622638 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 56078 57596 56952 73849 244475 250000 250000 250000 250000 1000000 1500000 PART I-A, LINE 1: TOTAL LOBBYING EXPENSES ARE RELATED TO DUES TO MINNESOTA CITIZENS FOR THE ARTS. 55884405 1549913 -2704195 2977635 51752488 41256488 21284654 2422833 9079570 55884405 37557984 10945045 1973459 9220000 41256488 37625255 10025300 434060 10526631 37557984 34316627 5500000 1777436 3968808 37625255 0.00000 1.00000 0.00000 1 1 1 3006334 3006334 65282890 24544438 40738452 546791 529086 17705 10171401 7553724 2617677 23534 23534 46403702 110160482 F 110160482 UNFUNDED PENSION LIABILITY 2288960 CAPITAL LEASE 50049 2339009 X 44656669 -3015310 -13749560 -16764870 61421539 722391 -244317 478074 61899613 41389245 562843 562843 40826402 722391 722391 41548793 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, AS AMENDED, (CODE) 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 CODE 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 BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION & TRUST -13,749,560. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISER EXPENSE -244,317. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS 318,526. FUNDRAISER EXPENSE 244,317. X X X X X X X 1 BENNETT DIRECT PO BOX 0015 MILWAUKEE WI 53201 TELEPHONE CAMPAIGN 0 315211 145412 169799 315211 145412 169799 MN WI SYMPHONY BALL 1207108 1028083 179025 51912 133307 18439 92572 1207108 1028083 179025 51912 133307 18439 92572 296230 -117205 X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 OSMO VANSKA MUSIC DIRECTOR 656587 0 0 0 44878 0 0 0 18204 0 719669 0 0 0 MICHELLE MILLER BURNS PRESIDENT & CEO 353137 0 13532 0 162 0 7250 0 18204 0 392285 0 0 0 IVAN WINSHIP VP OF FINANCE & ADMINISTRA 259897 0 8754 0 162 0 10589 0 26118 0 305520 0 0 0 CAROLYN EGEBERG VP OF ADVANCEMENT 259869 0 7526 0 0 0 10589 0 26142 0 304126 0 0 0 ERIN KEEFE MUSICIAN 220238 0 11217 0 0 0 7551 0 1990 0 240996 0 0 0 ROBERT WRIGHT MUSICIAN 153192 0 729 0 162 0 7551 0 26317 0 187951 0 0 0 FEI XIE MUSICIAN 150457 0 1117 0 356 0 7551 0 26293 0 185774 0 0 0 BETH KELLAR-LONG VP OF ORCHESTRA ADMINISTRATION 144884 0 3270 0 356 0 6071 0 26142 0 180723 0 0 0 PART I, LINE 1A HEALTH CLUB MEMBERSHIP - MINNEAPOLIS CLUB - MICHELLE MILLER BURNS - $4,826 - NOT INCLUDED IN TAXABLE COMPENSATION AND UTILIZED FOR BUSINESS PURPOSES AND MEETINGS. HOUSING ALLOWANCE - OSMO VANSKA - $40,000 - INCLUDED IN TAXABLE COMPENSATION. X 64 3576506 FMV X 1 500300 FMV X AUCTION ITEMS 70 51912 FMV 1 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 A, LINE 2 OSMO VANSKA AND ERIN KEEFE, FAMILY RELATIONSHIP. 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 FILING 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 AND MUSIC DIRECTOR 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 2020. ON AN ANNUAL BASIS, THE COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES, OTHER THAN THE CEO AND MUSIC DIRECTOR, 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. 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 -13,749,560. CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS -318,526. THE OAKLEAF ENDOWMENT TRUST FOR THE MINNESOTA ORCHESTRA 80 SOUTH EIGHTH STREET MINNEAPOLIS MN 55402 416429379 INVESTMENT MN 501(C)(3) LINE 12A, I MINNESOTA ORCHESTRAL ASSOCIATION 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 THE OAKLEAF ENDOWMENT TRUST FOR THE MINNESOTA ORCHESTRA C 2952988 FAIR MARKET VALUE