2022-07-14T16:49:07-05:00 2021-08-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2020-09-01 410693875 MINNESOTA ORCHESTRAL ASSOCIATION MINN 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 IVAN WINSHIP VP OF FINANCE AND ADMIN 6123715600 2022-07-12 1 IVAN WINSHIP 999009999 SARAH REICHLING P01587996 6123764500 2022-07-12 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHELLE MILLER BURNS 1111 NICOLLET MALL MINNEAPOLIS MN 55403 32274971 0 X WWW.MINNESOTAORCHESTRA.ORG X 1907 MN AN INTERNATIONALLY-RECOGNIZED ORCHESTRA DEDICATED TO ENRICHING AND SERVING MINNESOTA COMMUNITY. 76 75 823 677 61090 0 15467014 19627033 6430809 640169 1469178 252131 221718 -142209 23588719 20377124 0 0 0 0 24429487 18919235 0 0 2031297 11580431 8464051 36009918 27383286 -12421199 -7006162 187473763 197157638 20933260 16763873 166540503 180393765 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 21041368 0 580295 THE GRAMMY AWARD-WINNING MINNESOTA ORCHESTRA, LED BY MUSIC DIRECTOR OSMO VANSKA, 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.MAKING ITS HOME AT ORCHESTRA HALL IN MINNEAPOLIS, IN A TYPICAL SEASON THE ORCHESTRA PRESENTS NEARLY 175 CONCERTS ANNUALLY THAT ARE HEARD LIVE BY SOME 300,000 INDIVIDUALS. DURING THE PANDEMIC, WITH ORCHESTRA HALL INITIALLY CLOSED TO IN-PERSON AUDIENCES, THE ORCHESTRA ENGAGED IN THE MOST AMBITIOUS MULTIMEDIA INITIATIVE IN ITS HISTORY, PARTNERING WITH TWIN CITIES PBS AND YOURCLASSICAL MPR TO CREATE THE BROADCAST AND LIVESTREAM SERIES THIS IS MINNESOTA ORCHESTRA. ACROSS THE SEASON THE ORCHESTRA PRODUCED 19 LIVE CONCERTS FOR AUDIENCES AROUND THE WORLD AND DISTRIBUTED THEM FREE OF CHARGE BY TV, RADIO AND ONLINE STREAMING, WITH EACH EPISODE ATTRACTING APPROXIMATELY 42,000 VIEWS. IN ADDITION TO CONCERTS, THE ORCHESTRA MAINTAINED A ROBUST ONLINE PRESENCE, SHARING MUSICIANS' AT-HOME VIDEOS, COLLABORATIONS WITH OTHER PARTNERS, ALL-AGES EDUCATIONAL ACTIVITIES AND A STEADY STREAM OF BLOG POSTS, AMONG OTHER VIDEOS AND WRITINGS. IN SUMMER 2021, SAFETY PROTOCOLS ALLOWED FOR THE PHASED RETURN OF IN-PERSON AUDIENCES TO ORCHESTRA HALL IN A SERIES OF CONCERTS FEATURING CREATIVE PARTNER FOR SUMMER PROGRAMMING JON KIMURA PARKER.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. DURING THE PANDEMIC, THE ORCHESTRA LAUNCHED A SERIES OF DIGITAL EDUCATIONAL CONCERTS AND ACTIVITIES THAT ALLOWED STUDENTS ACROSS THE STATE TO ACCESS QUALITY PROGRAMMING FOR FREE FROM THEIR HOMES. ALTHOUGH TOURING WAS NOT POSSIBLE IN FISCAL 2021 DUE TO 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. 21041368 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 127 0 1 823 1 1 1 0 0 0 0 1 1 0 0 0 1 0 0 0 X 76 75 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 JOESPH T GREEN CHAIR 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 NANCY E LINDAHL VICE CHAIR 1.00 X X 0 0 0 TIMOTHY WELSH VICE CHAIR 1.00 X X 0 0 0 WILLIAM P MILLER 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 1.00 X X 0 0 0 MARTIN R LUECK DIRECTOR 1.00 X 0 0 0 LUELLA G GOLDBERG LIFE DIRECTOR 1.00 X 0 0 0 MILUSKA NOVOTA DIRECTOR 1.00 X 0 0 0 MARGARET D ANKENY DIRECTOR EMERITI 1.00 X 0 0 0 MICHAEL M ROOS DIRECTOR 1.00 X 0 0 0 MICHAEL KIM DIRECTOR 1.00 X 0 0 0 MARK D COPMAN DIRECTOR 1.00 X 0 0 0 MICHAEL A LINDSAY DIRECTOR 1.00 X 0 0 0 MAXINE HOUGHTON WALLIN DIRECTOR EMERITI 1.00 X 0 0 0 MAURICE HOLLOMAN DIRECTOR 1.00 X 0 0 0 MARIELLEN JACOBSON DIRECTOR 1.00 X 0 0 0 MARY SUMNERS DIRECTOR 1.00 X 0 0 0 MARY ELLA PRATTE DIRECTOR 1.00 X 0 0 0 MARILYN CARLSON NELSON LIFE DIRECTOR 1.00 X 0 0 0 MARI CARLSON DIRECTOR EMERITI 1.00 X 0 0 0 AKS ZAHEER DIRECTOR 1.00 X 0 0 0 LLOYD KEPPLE DIRECTOR 1.00 X 0 0 0 ANITA PAMPUSCH DIRECTOR (LEFT 01/2021) 1.00 X 0 0 0 MICHAEL KLINGENSMITH DIRECTOR (LEFT 12/2020) 1.00 X 0 0 0 KAREN HIMLE DIRECTOR (LEFT 12/2020) 1.00 X 0 0 0 ERIK VAN KUIJK MD PHD DIRECTOR 1.00 X 0 0 0 BARBARA GOLD DIRECTOR 1.00 X 0 0 0 WARREN E MACK LIFE DIRECTOR 1.00 X 0 0 0 NANCY E LINDAHL LIFE DIRECTOR 1.00 X 0 0 0 TIM GEOFFRION DIRECTOR 1.00 X 0 0 0 RONALD E LUND LIFE DIRECTOR 1.00 X 0 0 0 ROMA CALATAYUD-STOCKS DIRECTOR 1.00 X 0 0 0 ROCHELLE F BLEASE DIRECTOR 1.00 X 0 0 0 ROBERT SPONG DIRECTOR (LEFT 10/2020) 1.00 X 0 0 0 PHILIP ISAACSON DIRECTOR 1.00 X 0 0 0 PAULA DECOSSE DIRECTOR 1.00 X 0 0 0 PAUL D GRANGAARD LIFE DIRECTOR 1.00 X 0 0 0 PATRICK G MAHONEY DIRECTOR 1.00 X 0 0 0 SARAH BREW DIRECTOR 1.00 X 0 0 0 LISA PARADIS 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 E TIM CARL DIRECTOR 1.00 X 0 0 0 DR YVONNE CHEEK DIRECTOR 1.00 X 0 0 0 DR Y RALPH CHU DIRECTOR 1.00 X 0 0 0 DR MARY G LAWRENCE DIRECTOR 1.00 X 0 0 0 DR ERIK VAN KUIJK DIRECTOR 1.00 X 0 0 0 DR BARBARA GOLD DIRECTOR 1.00 X 0 0 0 DOUGLAS M BAKER JR DIRECTOR 1.00 X 0 0 0 DARREN ACHESON DIRECTOR 1.00 X 0 0 0 BRIAN TILZER DIRECTOR 1.00 X 0 0 0 BEVERLY N GROSSMAN DIRECTOR EMERITI 1.00 X 0 0 0 BETTY MYERS LIFE DIRECTOR 1.00 X 0 0 0 BETSY FROST DIRECTOR 1.00 X 0 0 0 BARBARA BURWELL DIRECTOR 1.00 X 0 0 0 ANNE W MILLER DIRECTOR 1.00 X 0 0 0 ANDREW CZAJKOWSKI DIRECTOR EMERITI 1.00 X 0 0 0 ALLEN U LENZMEIER 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 EVAN CARRUTHERS DIRECTOR 1.00 X 0 0 0 GORDON M SPRENGER LIFE DIRECTOR 1.00 X 0 0 0 DIMITRIOS SMYRNIOS DIRECTOR (LEFT 12/2020) 1.00 X 0 0 0 KATHY JUNEK DIRECTOR 1.00 X 0 0 0 KATHY CUNNINGHAM LIFE DIRECTOR 1.00 X 0 0 0 KATE T KELLY DIRECTOR 1.00 X 0 0 0 KAREN H HUBBARD DIRECTOR EMERITI 1.00 X 0 0 0 KAREN BAKER DIRECTOR EMERITI 1.00 X 0 0 0 JONATHAN EISENBERG DIRECTOR 1.00 X 0 0 0 LENI MOORE DIRECTOR 1.00 X 0 0 0 JOHN WILGERS DIRECTOR 1.00 X 0 0 0 JOHN F FARRELL JR DIRECTOR 1.00 X 0 0 0 JAY V IHLENFELD DIRECTOR 1.00 X 0 0 0 JANE P GREGERSON DIRECTOR EMERITI 1.00 X 0 0 0 JAMES WATKINS DIRECTOR 1.00 X 0 0 0 JACK W EUGSTER DIRECTOR EMERITI 1.00 X 0 0 0 HARVEY B MACKAY DIRECTOR EMERITI 1.00 X 0 0 0 JOHN W DAYTON DIRECTOR 1.00 X 0 0 0 PATRICK WALSH DIRECTOR (LEFT 10/2020) 1.00 X 0 0 0 MICHELLE MILLER BURNS PRESIDENT & CEO 40.00 X 394690 0 28088 IVAN WINSHIP VP OF FINANCE & ADMINISTRATION 40.00 X 220146 0 38358 CAROLYN EGEBERG VP OF ADVANCEMENT 40.00 X 217887 0 40269 OSMO VANSKA MUSIC DIRECTOR 40.00 X 749397 0 23785 ERIN KEEFE MUSICIAN 40.00 X 237028 0 9543 ROBERT WRIGHT MUSICIAN 40.00 X 167854 0 36635 FEI XIE MUSICIAN 40.00 X 159208 0 38356 JOHN SNOW MUSICIAN 40.00 X 167903 0 20146 2314113 0 235180 73 0 1 0 G&I IX OIC LLC 220 EAST 42ND ST NEW YORK NY 10017 BUILDING RENTAL 324963 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 52404 MARKETING 239535 CAMBRIDGE ASSOCIATES LLC 100 SUMMER ST BOSTON MA 02110 INVESTMENT MANAGEMENT 200000 SALO LLC 20 SOUTH 13TH ST MINNEAPOLIS MN 55403 TEMPORARY STAFFING 160250 COLUMBIA ARTISTS MANAGEMENT LLC 5 COLUMBUS CIR NEW YORK NY 10019 GUEST ARTIST AGENT 104648 6 563126 2836882 5288265 10938760 2502198 19627033 ORCHESTRA TICKETS 711130 407187 407187 ORCHESTRA SERVICE FEES 532000 130939 130939 RENTALS 711130 59874 59874 CONCESSIONS & FEES 711130 42169 42169 640169 702120 1216 700904 1310 1310 11260318 11710307 -449989 -449989 -449989 0 563126 163775 -163775 -163775 44021 23765 20256 20256 20377124 580295 61090 108706 919304 919304 14339098 12361180 894356 1083562 122259 122259 2534186 2236244 128462 169480 1004388 849544 93948 60896 7339 5832 1507 73702 73702 56952 56952 645369 645369 1460873 454772 596843 409258 827929 579222 14195 234512 262097 134526 114250 13321 59441 22674 31329 5438 568661 485198 83463 75464 63010 655 11799 13322 6236 1550 5536 1875446 1856635 18811 424692 59680 365012 DIRECT CONCERT EXPENSES 1367200 1357532 9668 EQUIPMENT 446674 431196 15478 FINANCING COSTS 151299 151299 MEMBERSHIPS & SUBSCRIPT 111731 13766 93840 4125 35860 1862 628 33370 27383286 21041368 4310621 2031297 3912770 4316960 18552413 4289883 305000 308078 103672 156323 874094 1048067 78496320 30579568 47546041 47916752 29950802 37600353 85698370 100990621 530601 0 530601 187473763 197157638 2155784 1969161 3207847 5631596 4503852 9979644 2500000 5589985 2159264 20933260 16763873 X -14464349 -18062454 181004852 198456219 166540503 180393765 187473763 197157638 X -7006162 3271740 17587684 X X 0 1 X 1 0 X 24286170 19956070 34396080 15467014 19627033 113732367 24286170 19956070 34396080 15467014 19627033 113732367 7957600 105774767 625957 698273 790856 1618109 702214 4435409 9568 9568 118177344 36755107 0.89510 0.76800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 56952 56952 27326335 27383287 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 55056 56078 57596 56952 225682 250000 250000 250000 250000 1000000 1500000 PART I-A, LINE 1: TOTAL LOBBYING EXPENSES ARE RELATED TO DUES TO MINNESOTA CITIZENS FOR THE ARTS. 41256488 21284654 2422833 9079570 55884405 37557984 10945045 1973459 9220000 41256488 37625255 10025300 434060 10526631 37557984 34316627 5500000 1777436 3968808 37625255 34868311 400000 2563483 3515167 34316627 0.00000 1.00000 0.00000 1 1 1 3006334 3006334 64824756 23125819 41698937 546791 508055 38736 8190888 6945694 1245194 1927551 1927551 47916752 100990621 F 100990621 UNFUNDED PENSION LIABILITY 2050770 LEASEHOLD INCENTIVE LIABILITY 41525 CAPITAL LEASE 66969 2159264 X 38459521 3271740 15292251 18563991 19895530 645369 -163775 481594 20377124 24606259 -2131658 -2131658 26737917 645369 645369 27383286 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 VALUE OF SPLIT INTEREST AGREEMENTS CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION & TRUST 15,292,251. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISER EXPENSE -163,775. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS -2,295,433. FUNDRAISER EXPENSE 163,775. X X X X X X X 1 BENNETT DIRECT PO BOX 0015 MILWAUKEE WI 53201 TELEPHONE CAMPAIGN 0 388366 75112 258982 388366 75112 258982 MN WI SYMPHONY BALL 563126 563126 93641 47488 22646 563126 563126 93641 47488 22646 163775 -163775 X X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 OSMO VANSKA MUSIC DIRECTOR 709389 0 0 0 40008 0 0 0 23785 0 773182 0 0 0 MICHELLE MILLER BURNS PRESIDENT & CEO 360381 0 34147 0 162 0 7125 0 20963 0 422778 0 0 0 IVAN WINSHIP VP OF FINANCE & ADMINISTRATION 219984 0 0 0 162 0 6166 0 32192 0 258504 0 0 0 CAROLYN EGEBERG VP OF ADVANCEMENT 217725 0 0 0 162 0 7863 0 32406 0 258156 0 0 0 ERIN KEEFE MUSICIAN 236472 0 200 0 356 0 7491 0 2052 0 246571 0 0 0 ROBERT WRIGHT MUSICIAN 166995 0 503 0 356 0 7491 0 29144 0 204489 0 0 0 FEI XIE MUSICIAN 158061 0 791 0 356 0 7491 0 30865 0 197564 0 0 0 JOHN SNOW MUSICIAN 166874 0 673 0 356 0 7491 0 12655 0 188049 0 0 0 PART I, LINE 1A HEALTH CLUB MEMBERSHIP - MINNEAPOLIS CLUB - MICHELLE MILLER BURNS - $6,768 - NOT INCLUDED IN TAXABLE COMPENSATION AND UTILIZED FOR BUSINESS PURPOSES AND MEETINGS. MOVING EXPENSE - MICHELLE MILLER BURNS - $34,147 - INCLUDED IN TAXABLE COMPENSATION. HOUSING ALLOWANCE - OSMO VANSKA - $35,000 - INCLUDED IN TAXABLE COMPENSATION. X 84 2502123 FMV X FOOD 1 75 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 1 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 15,292,251. CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS 2,295,433. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNT HAS NOT CHANGED FROM THE PRIOR YEAR. 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 2836882 FAIR MARKET VALUE