2023-08-09T11:03:23-05:00 2022-09-30 910189318 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2021-10-01 850131810 THE SANTA FE OPERA SANT 5059865955 PO BOX 2408 SANTA FE NM 87504 HEATHER KEMP CHIEF FINANCIAL OFFICER 5059865955 2023-01-20 1 HEATHER KEMP XXX-XX-XXXX PAMELA ALEXANDERSON P01218925 5058787200 2023-08-07 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z LYNN LOACKER PO BOX 2408 SANTA FE NM 87504 45876749 0 X HTTPS://WWW.SANTAFEOPERA.ORG/ X 1957 NM TO FOSTER AND ENRICH AN UNDERSTANDING AND APPRECIATION OF THE OPERATIC ART FORM. 44 44 583 744 509050 29812 42939303 15628910 5910498 10913077 9246125 5733196 480848 870302 58576774 33145485 0 0 0 0 11621063 13205175 0 0 2558516 15162623 17979449 26783686 31184624 31793088 1960861 178454896 155877411 5415430 2832807 173039466 153044604 X TO FURTHER THE OPERATIC ART FORM BY PRESENTING ENSEMBLE PERFORMANCES OF THE HIGHEST QUALITY IN A VARIED REPERTOIRE OF NEW AS WELL AS RARELY PERFORMED AND STANDARD WORKS, TO ENSURE EXCELLENCE OF OPERA'S FUTURE THROUGH ITS APPRENTICE PROGRAMS FOR ARTISTS, TECHNICIANS AND ARTS ADMINISTRATORS, AND TO FOSTER AND ENRICH AN UNDERSTANDING AND APPRECIATION FOR OPERA IN THE COMMUNITY BY OUTREACH TO A DIVERSE PUBLIC. 0 0 22073218 10740170 ONE OF THE NATION'S MOST IMPORTANT SUMMER FESTIVALS, THE SANTA FE OPERA IS PRAISED FOR ITS INNOVATIVE REPERTORY AND HIGH STANDARDS OF EXCELLENCE. THE OPERA WAS ABLE TO RETURN TO A FULL PERFORMANCE SCHEDULE WITH NO LIMITS ON AUDIENCE CAPACITY. THERE WERE APPROXIMATELY 67,797 ATTENDEES OF THE 2022 SEASON. THE 2022 SEASON INCLUDED A TOTAL OF 38 PERFORMANCES OF FIVE FULLY STAGED OPERAS, INCLUDING: "CARMEN," COMPOSED BY GEORGES BIZET WITH LIBRETTO BY HENRI MELHAC AND LUDOVIC HALEVY; "THE BARBER OF SEVILLE," COMPOSED BY GIOACHINO ROSSINI WITH LIBRETTO BY CESARE STERBINI; "FALSTAFF," COMPOSED BY GIUSEPPE VERDIE WITH LIBRETTO BY ARRIGO BOITO; "TRISTAN UND ISOLDE," BY RICHARD WAGNER; AND THE WORLD PREMIERE OF "M. BUTTERFLY," COMPOSED BY HUANG RUO WITH LIBRETTO BY DAVID HENRY HWANG. IN ADDITION, THERE WERE TWO PERFORMANCES OF APPRENTICE SCENES PERFORMED BY THE SANTA FE OPERA SINGING APPRENTICES AND DESIGNED AND CREATED BY THE SANTA FE OPERA TECHNICAL APPRENTICES. 1451021 83456 THE SANTA FE OPERA'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS CONTINUED IN A HYBRID MODE WITH THE MAJORITY REESTABLISHED IN PERSON. DURING THE OPERA'S 2022 FISCAL YEAR, OVER 20,000 INDIVIDUALS WERE SERVED IN-PERSON AND VIRTUALLY, INCLUDING 14,015 ADULTS AND 4,149 YOUTHS IN PERSON. ADDITIONALLY, 744 VOLUNTEERS ENGAGED WITH THE OPERA BOTH ON SITE AND IN SURROUNDING COMMUNITIES CONTRIBUTING 29,968 VOLUNTEER HOURS. DURING THE FALL OF 2021, THE OPERA PRODUCED THE WORLD PREMIERE OF THE SECOND COMMISSION OF ITS OPERA FOR ALL VOICES PROGRAM, "HOMETOWN TO THE WORLD", COMPOSED BY LAURA KAMINSKY WITH LIBRETTO BY KIMBERLY REED. IN THE SUMMER OF 2022 A WORKSHOP PERFORMANCE OF THE FOURTH COMMISSION, "THE PIGEON KEEPER," COMPOSED BY DAVID HANLON AND LIBRETTO BY STEPHANIE FLEISCHMANN, WAS PRESENTED IN SAN FRANCISCO IN ASSOCIATION WITH THE SAN FRANCISCO GIRLS CHORUS. ON-GOING DIGITAL PROGRAMMING INCLUDES THREE SEGMENTS OF A VIRTUAL BACKSTAGE TOUR. OTHER DIGITAL PROGRAMS AVAILABLE ON-LINE ARE A HOLIDAY CONCERT AND "OPERA MAKES SENSE", A CURATED INTRODUCTION FOR THREE TO FIVE YEAR OLDS AND THEIR FAMILIES, EXPLORING MUSIC THROUGH THEIR SENSES AND CREATIVE PLAY. 23524239 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 301 0 1 583 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 44 44 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NM NY X X THE ORGANIZATION 5059865955 301 OPERA DRIVE SANTA FE NM 87506 SUSAN G MARINEAU CHAIRMAN 5.00 X X 0 0 0 FREDERICK R HAAS VICE CHAIRMAN 5.00 X X 0 0 0 LYNN J LOACKER TREASURER THRU 8/12/22, PRESIDENT 5.00 X X 0 0 0 ROBERT VLADEM FIRST VICE PRESIDENT 5.00 X X 0 0 0 SARAH BILLINGHURST SOLOMON VICE PRESIDENT 5.00 X X 0 0 0 EUGENE STARK JR VICE PRESIDENT 5.00 X X 0 0 0 DANNEHL TWOMEY VICE PRESIDENT 5.00 X X 0 0 0 JOHN M HAUPERT TREASURER, BEGINNING 8/13/22 5.00 X X 0 0 0 DAVID HENRY JACOBS PRESIDENT THRU 8/12/22, DIRECTOR 5.00 X X 0 0 0 BRUCE CHEMEL SECRETARY 5.00 X X 0 0 0 MEG BOULWARE DIRECTOR 1.00 X 0 0 0 JOSEPH M BRYAN JR DIRECTOR 1.00 X 0 0 0 J BRUCE BUGG JR DIRECTOR 1.00 X 0 0 0 SUSAN ESCO CHANDLER DIRECTOR 1.00 X 0 0 0 RICHARD H DAVIS DIRECTOR 1.00 X 0 0 0 EIVIND DJUPEDAL DIRECTOR 1.00 X 0 0 0 NANCIE DOMINIC DIRECTOR 1.00 X 0 0 0 REBECCA J DUNCAN DIRECTOR 1.00 X 0 0 0 DAVID F ERTEL DIRECTOR 1.00 X 0 0 0 KRISTINA J FLANAGAN DIRECTOR 1.00 X 0 0 0 A CHARLES FORTE DIRECTOR 1.00 X 0 0 0 PETER B FRANK DIRECTOR 1.00 X 0 0 0 EDWARD T GARCIA DIRECTOR 1.00 X 0 0 0 CHESTER A GOUGIS DIRECTOR 1.00 X 0 0 0 GUY L GRONQUIST DIRECTOR 1.00 X 0 0 0 ANN SHILLING HARRISON DIRECTOR (THROUGH MAY 2022) 1.00 X 0 0 0 MARITA HINDS DIRECTOR 1.00 X 0 0 0 DR WALTER L KIRCHNER DIRECTOR 1.00 X 0 0 0 MIRANDA Y LIND DIRECTOR 1.00 X 0 0 0 LIDDIE MARTINEZ DIRECTOR 1.00 X 0 0 0 CYNTHIA MCCREARY DIRECTOR 1.00 X 0 0 0 STEVE MENZIES DIRECTOR 1.00 X 0 0 0 CHARLES MOORE DIRECTOR 1.00 X 0 0 0 SUSAN MORRIS DIRECTOR 1.00 X 0 0 0 GLENN OSTERGAARD DIRECTOR 1.00 X 0 0 0 ESTEVAN RAEL-GALVEZ DIRECTOR 1.00 X 0 0 0 ROBERTA COOPER RAMO DIRECTOR 1.00 X 0 0 0 CAREY RAMOS DIRECTOR 1.00 X 0 0 0 JOHN RIZZO DIRECTOR 1.00 X 0 0 0 BRUCE ROSS DIRECTOR 1.00 X 0 0 0 JAMES SEITZ JR DIRECTOR 1.00 X 0 0 0 HARRIS SMITH DIRECTOR 1.00 X 0 0 0 IRWIN SUGARMAN DIRECTOR 1.00 X 0 0 0 T PETER TOWNSEND DIRECTOR 1.00 X 0 0 0 ROBERT TURNER DIRECTOR 1.00 X 0 0 0 ROBERT MEYA GENERAL DIRECTOR 40.00 X 523671 0 48121 HEATHER KEMP CHIEF FINANCIAL OFFICER 40.00 X 198810 0 29369 ALLISON SWENSON DIRECTOR OF DEVELOPMENT 40.00 X 160108 0 19500 HARRY BICKET MUSIC DIRECTOR 20.00 X 288846 0 0 MICHAEL GARY DIRECTOR OF INSTITUTIONAL GIVING 40.00 X 142046 0 9869 DAVID LOMELI CHIEF ARTISTIC OFFICER 40.00 X 130073 0 16512 CHRISTOPHER HUFNAGEL DIRECTOR OF OPERATIONS 40.00 X 128621 0 0 ELIZABETH KELLOGG DIRECTOR OF HUMAN RESOURCES 40.00 X 124621 0 9869 1696796 0 133240 14 0 1 0 AXCES HEALTH LLC 531 HARLKLE RD SUITE B SANTA FE NM 87505 COVID TESTING 916036 STAGING SOLUTIONS 2014 LOU ELLEN LANE HOUSTON TX 77018 OPERA SIMULCASTS 397157 SANTA FE STUCCO & ROOFING 3600 CERILLOS ROAD SUITE 101 SANTA FE NM 87507 CONSTRUCTION 306761 MARATHON MECHANICAL 3318 GIRARD BLVD NE ALBUQUERQUE NM 87107 CONSTRUCTION 180949 VALHALLA PRODUCTIONS 365 WEST END AVE 1003 NEW YORK NY 10024 OPERA COMMISSION 175000 9 576517 3940113 11112280 967681 15628910 PERFORMANCE ADMISSIONS 711110 9536601 9536601 AUXILIARY OPERATIONS 711110 1376476 1207304 169172 10913077 3163674 3163674 662793 143997 514481 457 148312 143540 291852 291852 14319701 11735619 14560 2584082 -14560 2569522 2569522 209402 576517 196093 13309 13309 346097 270054 76043 79721 -3678 ADVERTISING REVENUE 511120 270928 270928 INSURANCE CLAIM 900001 115700 115700 SPONSORSHIP REVENUE 611710 72628 72628 29842 29842 489098 33145485 10823626 509050 6183899 X 986600 201176 399827 385597 10129829 8099393 1230306 800130 169883 136154 12378 21351 1090900 720371 214590 155939 827963 633342 110369 84252 77657 77657 58468 58468 22575 22575 377346 377346 6414478 5551802 557351 305325 427442 426070 565 807 1269492 838947 157041 273504 607435 209097 285265 113073 31680 31680 666105 536941 104338 24826 2665469 2514461 48055 102953 29171 12116 15151 1904 2482421 1538077 941087 3257 414102 134848 279254 SETS, PROPS, AND COSTUM 1149601 1149601 CULTIVATION, MEALS, AND 611632 318453 47627 245552 COMP TICKETS 256249 200251 17690 38308 PRODUCT EXPENSE 204343 125184 79159 213783 146275 65770 1738 31184624 23524239 5101869 2558516 4324971 4412245 1465619 18633085 12557721 476188 518809 134042 135929 1546508 1254399 83480671 38979828 46857976 44500843 96785699 69867976 9166753 20798744 442400 452400 178454896 155877411 938321 1457533 460248 1240929 4016861 134345 5415430 2832807 X 62762834 58965144 110276632 94079460 173039466 153044604 178454896 155877411 X 1960861 -21392352 -563371 X 0 1 X 1 1 1 X 13615475 16598307 20811936 15939303 15628910 82593931 13615475 16598307 20811936 15939303 15628910 82593931 10117456 72476475 2100539 2195944 1939048 2301848 3970464 12507843 103252 188923 532 30812 323519 184775 145543 330318 95755611 41272953 0.75690 0.73550 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2020 AMOUNT: $ 184,775. 2021 AMOUNT: $ 145,543. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 22575 22575 28603533 28626108 1000000 250000 0 0 1000000 868502 1000000 1000000 3868502 5802753 23148 13013 13013 22575 71749 250000 217126 250000 250000 967126 1450689 FORM 990; SCHEDULE C, PART II-A, LINE 1 LEGISLATORS ARE ROUTINELY INVITED TO ALL COMMUNITY ENGAGEMENT PROGRAMS, SUCH AS THE OPERA FOR ALL VOICES PERFORMANCE DURING THE FALL OF 2021 AND THE WINTER CONCERT SERIES. THE OPERA RETAINED A LOBBYIST TO CONSULT ON LEGISLATIVE MATTERS OF CONCERN TO THE OPERA. 119024466 2223848 -16014559 3271067 101962688 74047477 33937163 13335911 2296085 119024466 63127283 7939123 3999588 1018517 74047477 61352828 3348321 1337118 2910984 63127283 54922665 5970157 3281489 2821483 61352828 0.10500 0.85400 0.04100 0 0 4048930 4048930 69754859 32134195 37620664 9676882 6845633 2831249 44500843 TIFF REAL ESTATE 98977 F AEW CORE PROPERTY TRUST INC FUND 13008212 F FIRST EAGLE DIRECT LENDING FUND V-B BLOCKED LP 2613555 F JP MORGAN IIF TAX-EXEMPT HEDGED LP 5078000 F 20798744 ANNUITIES PAYABLE 134345 134345 X 11641755 -21392352 27505 238463 -21126384 32768139 377346 377346 33145485 31636617 27505 801834 829339 30807278 377346 377346 31184624 PART V, LINE 4: TO PRODUCE A RELATIVELY PREDICTABLE AND STABLE INCOME STREAM TO GROW AND TO SUPPORT PRESENT AND FUTURE PROGRAMS. PART X, LINE 2: THE OPERA HAS ADOPTED THE PROVISIONS OF ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE OPERA RECOGNIZES THE TAX (BENEFIT) EXPENSE FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. ANY SUCH TAX (BENEFIT) EXPENSE IS MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE OPERA HAD NO UNRECOGNIZED TAX BENEFITS AT SEPTEMBER 30, 2022 OR 2021. THE OPERA FILES AN EXEMPT ORGANIZATION RETURN WITH THE INTERNAL REVENUE SERVICE (IRS). IT IS NOT A "PRIVATE FOUNDATION" FOR TAX PURPOSES. THE OPERA HAD MINIMAL TAXABLE UNRELATED BUSINESS INCOME FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021. ACCORDINGLY, A PROVISION FOR INCOME TAXES HAS NOT BEEN ESTABLISHED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST -563,371. RENTAL EXPENSE 514,480. COST OF GOODS SOLD INVENTORY 270,054. FUNDRAISING EXPENSES 17,300. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 514,480. COST OF GOODS SOLD INVENTORY 270,054. FUNDRAISING EXPENSES 17,300. SUMMER GALA 420475 389725 30750 25689 15300 WINTER GALA 136125 113525 22600 47106 2000 5 229319 73267 156052 105998 785919 576517 209402 178793 17300 196093 13309 X X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 ROBERT MEYA GENERAL DIRECTOR 483671 0 40000 0 0 0 19500 0 28621 0 571792 0 0 0 HARRY BICKET MUSIC DIRECTOR 288846 0 0 0 0 0 0 0 0 0 288846 0 0 0 HEATHER KEMP CHIEF FINANCIAL OFFICER 188810 0 10000 0 0 0 19500 0 9869 0 228179 0 0 0 ALLISON SWENSON DIRECTOR OF DEVELOPMENT 150108 0 10000 0 0 0 19500 0 0 0 179608 0 0 0 MICHAEL GARY DIRECTOR OF INSTITUTIONAL GIVING 139546 0 2500 0 0 0 0 0 9869 0 151915 0 0 0 PART I, LINE 1A THE SANTA FE OPERA OWNS A RESIDENCE IMMEDIATELY ADJACENT TO THE OPERA'S FACILITIES. THE CLOSE PROXIMITY OF THE RESIDENCE AND THE GENERAL DIRECTOR LIVING THEREIN HAVE IMPORTANT BENEFITS FOR THE OPERA. THE GENERAL DIRECTOR IS THEREBY AVAILABLE ON SHORT NOTICE FOR IMPORTANT BUSINESS ON THE OPERA GROUNDS AS WELL AS IS ABLE TO ENTERTAIN AND MEET WITH THE OPERA'S GUESTS, ARTISTIC PARTNERS AND STAFF. THE GENERAL DIRECTOR, AS A CONDITION OF EMPLOYMENT, IS REQUIRED BY THE OPERA TO RESIDE IN THE GENERAL DIRECTOR'S RESIDENCE. THE SANTA FE OPERA REPORTS TO THE INTERNAL REVENUE SERVICE AS COMPENSATION TO THE GENERAL DIRECTOR ADDITIONAL TAXABLE INCOME FOR THE FAIR MARKET RENTAL VALUE AND UTILITY COSTS OF THE PREMISES. THE OPERA HAS AGREED TO REIMBURSE THE GENERAL DIRECTOR FOR ANY OUT-OF-POCKET COSTS INCURRED DURING THE USE OF THE GENERAL DIRECTOR'S RESIDENCE FOR OPERA BUSINESS. DETAILED RECORDS ARE REQUIRED TO BE MAINTAINED OF THE OPERA'S OFFICIAL USE OF THE RESIDENCE AND SUBMITTED TO THE PRESIDENT AND THE CHIEF FINANCIAL OFFICER. THE TAX INDEMNIFICATION AND GROSS UP PAYMENTS REPRESENT THE TAX PAID BY THE OPERA, AND INCLUDED IN ROBERT MEYA'S W-2, TO COVER THE TAX ON THE HOUSING ALLOWANCE. THE HOUSING IS VALUED AT $84,000, AND THE GROSS-UP IS VALUED AT $56,702. PART I, LINE 7 BONUS AMOUNTS WERE DETERMINED ON A DISCRETIONARY BASIS. THE COMPENSATION COMMITTEE DETERMINED THE BONUS FOR THE GENERAL DIRECTOR. X 43040 DONOR EST./APPRAISAL X 30 795434 AVG HI & LOW PRICE/SHARE X TICKET CONTRIBUTIONS 410 109027 FAIR MARKET VALUE X FOOD AND BEVERAGE FOR CULTIVATION EVENTS 7 20180 FAIR MARKET VALUE 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1A ALL REGULAR MEMBERS OF THE BOARD (EXCLUDING HONORARY MEMBERS, DIRECTORS EMERITUS, AND EX-OFFICIO MEMBERS WHO HAVE NO VOTING RIGHTS) HAVE THE SAME VOTING RIGHTS. IN BETWEEN QUARTERLY BOARD MEETINGS, THE EXECUTIVE COMMITTEE OF THE BOARD IS VESTED WITH THE POWER OF THE BOARD OF DIRECTORS WITH THE FOLLOWING EXCEPTIONS: THE POWER TO DISSOLVE OR MERGE THE OPERA WITH ANOTHER ORGANIZATION, THE POWER TO CHANGE THE NAME OF THE OPERA, THE POWER TO CHANGE THE BYLAWS OF THE OPERA, THE POWER TO DELEGATE ITS AUTHORITY, THE POWER TO REMOVE THE GENERAL DIRECTOR OR ANY OTHER DIRECTOR, AND THE POWER TO SELL REAL PROPERTY VALUED OVER $2.5 MILLION. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS OF THE SANTA FE OPERA HAS ADOPTED A RESOLUTION APPROVING A PROCESS BY WHICH THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FULL VERSION OF FORM 990, INCLUDING ALL SCHEDULES AS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. AFTER REVIEW AND ANY MODIFICATION BY THE AUDIT COMMITTEE, FORM 990 IS FILED WITH THE IRS, AND THE PUBLIC DISCLOSURE VERSION OF FORM 990, EXCLUDING SCHEDULE B (SCHEDULE OF CONTRIBUTORS), IS POSTED TO THE PORTAL AVAILABLE TO ALL MEMBERS OF THE BOARD OF DIRECTORS. SCHEDULE B OF FORM 990 IS NOT REVIEWED BY THE FULL BOARD DUE TO THE CONFIDENTIAL AND PRIVATE NATURE OF ITS DONOR LIST. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS OF THE SANTA FE OPERA ARE ASKED EACH YEAR TO SIGN CONFLICT OF INTEREST DISCLOSURE STATEMENTS AND TO SUBMIT THESE SIGNED STATEMENTS TO THE SECRETARY OF THE BOARD OF DIRECTORS. BY SIGNING THE ANNUAL DISCLOSURE STATEMENTS, EACH DIRECTOR UNDERTAKES TO NOTIFY THE PRESIDENT OF THE OPERA OF ANY MATERIAL CHANGES THAT MIGHT RESULT IN A CONFLICT OF INTEREST. THE PRESIDENT REVIEWS THE SIGNED DISCLOSURE STATEMENTS FOR CONFLICTS AND, WITH THE ASSISTANCE OF COMMITTEE CHAIRS, MONITORS COMPLIANCE WITH THE POLICY AT MEETINGS OF THE BOARD AND COMMITTEES CONSIDERING TRANSACTIONS OR ARRANGEMENTS THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST. THE SIGNED CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE MAINTAINED AT THE OFFICES OF THE SANTA FE OPERA. COMPLIANCE WITH THIS POLICY IS MONITORED BY THE AUDIT COMMITTEE. IF A CONFLICT ARISES, THE PERSON WITH SUCH CONFLICT IS NOT ALLOWED TO VOTE ON THE TRANSACTION. THERE HAVE BEEN NO INCIDENCES OF CONFLICT DURING THE REPORTING PERIOD. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, COMPOSED OF THE PRESIDENT, CHAIRMAN, TREASURER, AND TWO ADDITIONAL BOARD MEMBERS APPOINTED BY THE PRESIDENT, ALL OF WHOM ARE UNRELATED TO THE GENERAL DIRECTOR, REVIEWS AND APPROVES COMPENSATION AND OTHER TERMS OF EMPLOYMENT FOR THE GENERAL DIRECTOR. IN CONSIDERING APPROPRIATE COMPENSATION FOR THIS POSITION, THE COMPENSATION COMMITTEE REVIEWS SALARY DATA FOR COMPARABLE POSITIONS AT SIMILAR OPERA COMPANIES. THE COMPENSATION COMMITTEE ALSO CONDUCTS ANNUAL REVIEWS OF THE PERFORMANCE OF THE GENERAL DIRECTOR. FURTHER, THE COMPENSATION COMMITTEE RETAINS A CONSULTANT TO ANALYZE THE GENERAL DIRECTOR'S SALARY AND TO PROVIDE RECOMMENDATIONS REGARDING FUTURE LEVEL OF COMPENSATION. MINUTES OF THE COMPENSATION COMMITTEE'S MEETINGS ARE RECORDED AND MAINTAINED AT THE OFFICES OF THE SANTA FE OPERA. COMPENSATION FOR THE CHIEF FINANCIAL OFFICER IS DETERMINED BY THE GENERAL DIRECTOR. THE GENERAL DIRECTOR TAKES JOB PERFORMANCE AND SALARY DATA FOR COMPARABLE POSITIONS AT OTHER OPERA COMPANIES INTO ACCOUNT WHEN SETTING THE ANNUAL SALARY FOR THE CHIEF FINANCIAL OFFICER. THE COMPENSATION COMMITTEE REVIEWS THE SALARIES FOR ALL MEMBERS OF THE LEADERSHIP TEAM, COMPARING THE SALARIES TO COMPENSATION FOR SIMILAR POSITIONS AT OTHER OPERA COMPANIES. THIS PROCESS WAS LAST COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE MAINTAINED IN THE OFFICES OF THE SANTA FE OPERA. THEY ARE MADE AVAILABLE TO MEMBERS OF THE PUBLIC WHO MAKE WRITTEN REQUESTS FOR THE INFORMATION. FORM 990, PART IX, LINE 11G ARTIST FEES: PROGRAM SERVICE EXPENSES 2,065,780. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,065,780. COVID TESTING SERVICES: PROGRAM SERVICE EXPENSES 860,458. MANAGEMENT AND GENERAL EXPENSES 107,557. FUNDRAISING EXPENSES 107,557. TOTAL EXPENSES 1,075,572. OTHER SERVICES: PROGRAM SERVICE EXPENSES 2,625,564. MANAGEMENT AND GENERAL EXPENSES 449,794. FUNDRAISING EXPENSES 197,768. TOTAL EXPENSES 3,273,126. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT -563,371. SIMULTEXT SYSTEMS LLC PO BOX 2408 SANTA FE NM 87504 LICENSING OF IP NM -6166 0 THE SANTA FE OPERA OPERA ASSOCIATION OF NEW MEXICO LLC PO BOX 2408 SANTA FE NM 87504 TO SECURE THE OPERA'S ORIGINAL NAME NM 0 0 THE SANTA FE OPERA