2025-06-16T03:04:55-05:00 2024-07-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2023-08-01 954470909 MUSICARES FOUNDATION INC MUSI 3103923777 3030 OLYMPIC BOULEVARD SANTA MONICA CA 90404 HARVEY MASON JR CEO 3103923777 2025-06-13 1 0 JESSICA KARANTONIS P00969387 7144367100 2023 2025-03-06 01:10:19Z HARVEY MASON JR 3030 OLYMPIC BOULEVARD SANTA MONICA CA 90404 22084690 0 X WWW.MUSICARES.ORG X 1989 CA MUSICARES PROVIDES A SAFETY NET OF CRITICAL HEALTH AND WELFARE SERVICES TO THE MUSIC COMMUNITY IN THREE KEY AREAS: MENTAL HEALTH & ADDICTION RECOVERY SERVICES, HEALTH SERVICES, AND HUMAN SERVICES. 18 18 38 2600 647 0 16443223 14504897 0 0 429703 1465239 -1613386 -1934165 15259540 14035971 7119133 5229378 0 0 3595494 4718863 57432 42800 1373095 1979502 1826050 12751561 11817091 2507979 2218880 30052960 33769868 891186 1084236 29161774 32685632 X MUSICARES HELPS THE HUMANS BEHIND THE MUSIC BECAUSE MUSIC GIVES SO MUCH TO THE WORLD. MUSICARES PROVIDES A SAFETY NET OF CRITICAL HEALTH AND WELFARE SERVICES TO THE MUSIC COMMUNITY IN THREE KEY AREAS:MENTAL HEALTH & ADDICTION RECOVERY: SUPPORT, REFERRALS, AND EMERGENCY FINANCIAL ASSISTANCE FOR COUNSELING, PSYCHIATRIC CARE, INPATIENT TREATMENT, COACHING, INTENSIVE OUTPATIENT CARE, SOBER LIVING, AND MORE.HEALTH SERVICES: FINANCIAL ASSISTANCE DURING MEDICAL CRISES AND PREVENTIVE SERVICES SUCH AS DENTAL AND MEDICAL SCREENINGS, HEARING CLINICS, VOCAL HEALTH WORKSHOPS, AND ASSISTANCE OBTAINING LOW-COST HEALTH INSURANCE.HUMAN SERVICES: SUPPORT FOR BASIC LIVING EXPENSES LIKE RENT, UTILITIES, CAR PAYMENTS AND INSURANCE PREMIUMS IN TIMES OF HARDSHIP, PLUS PROGRAMS ADDRESSING AFFORDABLE HOUSING, CAREER DEVELOPMENT, LEGAL ISSUES, AND SENIOR SERVICES. 1 0 6676339 4398026 FINANCIAL ASSISTANCE: MUSICARES PROVIDES UP TO $10,000 ANNUALLY FOR EMERGENCY BASIC LIVING, MEDICAL, OR OTHER NEEDS WITH A LIFETIME MAXIMUM OF $20,000. UNDER EXTRAORDINARY CIRCUMSTANCES, GRANTS MAY BE EXTENDED TO $25,000 BASED UPON A UNIQUE NEED. ASSISTANCE IS PROVIDED TO RECORDING INDUSTRY PERSONNEL, INCLUDING CREATIVE AND TECHNICAL PERSONNEL (I.E., MUSICIANS, COMPOSERS, ENGINEERS, PRODUCERS, ETC.), MUSIC BUSINESS STAFF (I.E., RECORD LABEL STAFF, MANAGEMENT COMPANIES, ENTERTAINMENT ATTORNEYS, MUSIC RETAILERS), AND OTHER MEMBERS OF THE MUSIC COMMUNITY WHO HAVE BEEN EMPLOYED IN THE INDUSTRY FOR AT LEAST FIVE YEARS OR WHO HAVE CREDITS ON SIX COMMERCIALLY RELEASED SINGLES. THESE GRANTS ARE MADE AVAILABLE TO MUSIC PEOPLE FACING AN UNFORESEEN MEDICAL, PERSONAL, OR FINANCIAL CRISIS. THIS CAN INCLUDE PAYMENTS FOR HEALTH CARE PROFESSIONALS AND PRESCRIPTIONS, RENT/MORTGAGE PAYMENTS, HEALTH INSURANCE PREMIUMS, AND COSTS FOR OTHER BASIC LIVING SUPPORT SERVICES. THROUGH ITS COMMUNITY OUTREACH AND EDUCATION PROGRAMS, THE FOUNDATION ALSO PROVIDES WORKSHOPS, SEMINARS, AND INDIVIDUAL CONSULTATIONS TO MEMBERS OF THE MUSIC COMMUNITY ON TOPICS RELATED TO GENERAL HEALTH AND HUMAN SERVICE NEEDS. IT ALSO PROVIDES IDEAS AND RESOURCES FOR PROACTIVELY ADDRESSING THOSE ISSUES. 1557830 808522 MENTAL HEALTH & ADDICTION RECOVERY (FORMERLY MAP FUND): MUSICARES PROVIDES EMERGENCY FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY FACING ADDICTION. ASSISTANCE LIMITS ARE $20,000 PER YEAR WITH A LIFETIME LIMIT OF $20,000. THE PROGRAM MAY PROVIDE PAYMENT FOR INPATIENT TREATMENT, SOBER LIVING, AND/OR OTHER EXPENSES RELATED TO RECOVERY. THE PROGRAM ALSO PROVIDES A SUPPORT NETWORK OF RECOVERY RESOURCES FOR MUSIC PEOPLE WHO ARE TOURING THROUGHOUT THE COUNTRY. IN ADDITION, THE FOUNDATION PROVIDES WORKSHOPS AND COORDINATES MEETINGS OF INDUSTRY PROFESSIONALS TO DISCUSS THE PROBLEMS OF CHEMICAL DEPENDENCY AND DISCUSS SPECIFIC STRATEGIES FOR INTERVENTION FOR INDIVIDUALS WITHIN THE MUSIC COMMUNITY. 370926 0 THE DAY THAT MUSIC CARES: THE ANNUAL DAY OF SERVICE BRINGS MUSIC PROFESSIONALS AND FANS TOGETHER TO VOLUNTEER AT THE LOCAL LEVEL AND MAKE A DIFFERENCE IN THEIR COMMUNITIES. THE DAY OF SERVICE SHOWCASES THE BENEFITS OF COMMUNITY ON THE MUSIC ECOSYSTEM'S MENTAL HEALTH. 230770 22830 MUSICARES ALSO PROVIDES VARIOUS GRANTS TO OTHER TAX-EXEMPT ORGANIZATIONS, HOSTS SHOWCASE CONCERTS TO EDUCATE THE COMMUNITY AND PROVIDE SERVICES, AND PROVIDES DISASTER RELIEF AID. 230770 22830 8835865 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 1 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 50 0 1 38 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 18 18 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AR CA FL GA HI IL KS KY MA MD MI MN MS NC ND NH NJ NM NY OR PA RI SC TN UT VA WI WV X X X RYAN DONAHUE 3103923777 3030 OLYMPIC BLVD SANTA MONICA CA 90404 X AMBROSIA HEALY VICE-CHAIR 1.00 0.00 X X 0 0 0 JEFF HARLESTON SECRETARY/TREASURER 1.00 0.00 X X 0 0 0 MICHAEL MCDONALD CHAIR EMERITUS (THROUGH 6/24) 1.00 0.00 X X 0 0 0 STEVE BOOM CHAIR 1.00 0.00 X X 0 0 0 ALI HARNELL DIRECTOR 1.00 0.00 X 0 0 0 BEN HAGGERTY DIRECTOR 1.00 0.00 X 0 0 0 CARIANNE MARSHALL DIRECTOR 1.00 0.00 X 0 0 0 CHRISTINE ALBERT DIRECTOR 1.00 0.00 X 0 0 0 DONNA CASEINE DIRECTOR 1.00 0.00 X 0 0 0 JEFF JONES DIRECTOR 1.00 0.00 X 0 0 0 LALAH HATHAWAY DIRECTOR 1.00 0.00 X 0 0 0 MANUEL ABUD DIRECTOR 1.00 0.00 X 0 0 0 PHYLICIA FANT DIRECTOR 1.00 0.00 X 0 0 0 PJ MORTON DIRECTOR 1.00 0.00 X 0 0 0 RITA WILSON DIRECTOR 1.00 0.00 X 0 0 0 ROB LIGHT DIRECTOR 1.00 0.00 X 0 0 0 TAMARA HRIVNAK DIRECTOR 1.00 0.00 X 0 0 0 TAMMY HURT DIRECTOR 1.00 0.00 X 0 0 0 TUMA BASA DIRECTOR 1.00 0.00 X 0 0 0 HARVEY MASON JR CEO 1.00 0.00 X 0 0 0 LAURA SEGURA EXECUTIVE DIRECTOR 40.00 0.00 X 362132 0 55952 THERESA WOLTERS VICE-PRESIDENT 40.00 0.00 X 206466 0 12858 RYAN DONAHUE MANAGING DIRECTOR 40.00 0.00 X 169518 0 39021 LINDSEY BURRIS MANAGING DIRECTOR 40.00 0.00 X 174245 0 30415 VIRGINIA FADDY MANAGING DIRECTOR 40.00 0.00 X 152758 0 46502 JENNIFER LEFF MANAGING DIRECTOR 40.00 0.00 X 141798 0 50691 1206917 0 235439 9 0 1 0 LEWIS AND CLARK LLC 12400 WILSHIRE BLVD STE 1275 LOS ANGELES CA 90025 EVENT PRODUCTION 1537705 LEVY RESTAURANTS 1201 S FIGUEROA ST LOS ANGELES CA 90015 CATERING 579780 WONDROS 5450 W WASHINGTON BLVD LOS ANGELES CA 90016 PROGRAM MANAGEMENT, CREATIVE DEVELOPMENT 219500 1OF1 CUSTOM 130 EL CAMINO REAL MILLBRAE CA 94030 HEARING CLINIC PROVIDER 136488 PORTER NOVELLI INC PO BOX 771633 ST LOUIS MO 63177 PUBLIC RELATIONS SERVICES 135000 5 7768150 6736747 139574 14504897 1457487 1457487 4167563 4159811 7752 7752 7752 1060625 7768150 3887325 -2826700 -2826700 2398 1583 815 815 ONLINE AUCTIONS 900099 890682 890682 DVD ROYALTIES 900099 647 647 CONSIGNMENT SALES 900099 391 391 891720 14035971 0 647 -469573 1330 1330 5129048 5129048 99000 99000 3797984 2274438 695693 827853 138065 81687 28539 27839 511813 263939 132236 115638 271001 164518 45866 60617 110249 34682 33295 42272 80956 80956 42800 42800 171386 171386 727235 411002 128208 188025 9999 9999 41945 31829 8301 1815 170325 87706 64059 18560 16715 10376 5256 1083 90284 58385 25043 6856 10788 10788 74565 8608 65957 TAXES & LICENSES 52993 28317 15224 9452 BANK CHARGES 48304 2406 27554 18344 DUES & SUBSCRIPTIONS 44450 6803 31619 6028 VIDEO TAPING 31821 31821 144035 99971 38151 5913 11817091 8835865 1608131 1373095 1200 1200 4407057 6467218 1803685 839501 83838 110901 374083 322401 62470 51682 21754449 22422374 1800645 3758533 139616 118459 30052960 33769868 668286 776551 106733 92189 116167 215496 891186 1084236 X 28678225 32685632 483549 0 29161774 32685632 30052960 33769868 2218880 1321027 -16049 0 X 0 1 X 1 0 X 34437501 11853628 12686116 16443223 14504897 89925365 34437501 11853628 12686116 16443223 14504897 89925365 19169072 70756293 1074370 1235931 1817276 1588856 1457487 7173920 2379011 1836929 1928957 2025341 1954096 10124334 107223619 0.65990 0.64590 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 23555094 2797199 171386 26180907 22565714 1156608 167228 23555094 25399707 14791 -2660550 188234 22565714 21105157 4482047 187497 25399707 21818192 443712 1000000 156747 21105157 1.00000 0 0 156902 105220 51682 217181 217181 0 51682 PRIVATE EQUITY FUNDS 2212393 F PRIVATE CREDIT FUNDS 1015582 F HEDGE FUNDS 282400 F REAL ESTATE INCOME TRUSTS 248158 F 3758533 PAYABLE TO RECORDING ACADEMY 215496 215496 X 19931838 1321028 685931 3888908 5895867 14035971 0 14035971 16407980 701981 3888908 4590889 11817091 0 11817091 PART V, LINE 4: TO PROVIDE ONGOING FUNDING OF OPERATIONAL AND PROGRAM EXPENSES. PART X, LINE 2: MUSICARES FOUNDATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. FASB ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW A COMPANY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE COMPANY HAS TAKEN OR EXPECTS TO TAKE ON A TAX RETURN. DURING THE YEARS ENDED JULY 31, 2024 AND 2023, MUSICARES FOUNDATION DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT DIRECT EXPENSES 3,887,325. COGS 1,583. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT DIRECT EXPENSES 3,887,325. COGS 1,583. 1 CENTRAL AMERICA AND THE CARIBBEAN GRANT-MAKING 74000 NORTH AMERICA GRANT-MAKING 25000 SOUTH AMERICA PROGRAM SERVICES MERCHANDISE FOR USE DURING HUMANS OF HIP HOP EVENTS AND THE DAY THAT MUSIC CARES SERVICE DAY 21225 SOUTH AMERICA PROGRAM SERVICES SPANISH TRANSLATION SERVICES FOR WELLNESS IN MUSIC SURVEY 313 0 0 0 0 0 0 120538 0 120538 ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY, INCLUDING BUT NOT LIMITED TO PAYMENTS MADE TO THIRD PARTY VENDORS ON BEHALF OF INDIGENT RECORDING INDUSTRY PERSONNEL. NORTH AMERICA 200 25000 ACCESS TO A MENTAL HEALTH SUPPORT PLATFORM FMV FINANCIAL ASSISTANCE FOR ADDICTION RECOVERY SERVICES, INCLUDING BUT NOT LIMITED TO PAYMENTS MADE TO THIRD PARTY VENDORS ON BEHALF OF RECORDING INDUSTRY PERSONNEL FOR SUBSTANCE ABUSE TREATMENT. CENTRAL AMERICA AND THE CARIBBEAN 8 74000 CHECK 0 0 0 0 0 0 PART I, LINE 2: FOR FINANCIAL ASSISTANCE GRANTS, THE GRANTEE IS REQUIRED TO PROVIDE DOCUMENTATION FOR THE BASIS OF THE GRANT AND MUSICARES WILL PAY DIRECTLY FROM THE PROVIDED DOCUMENTS (I.E., MEDICAL BILLS, INSURANCE, BASIC LIVING INCLUDING RENT, ETC.) DIRECTLY TO THE VENDOR ON BEHALF OF THE GRANTEE. ONLY EMERGENCY GRANTS (I.E., NATURAL DISASTER RELIEF) ARE PAID DIRECTLY TO THE GRANTEE. ALL INVOICING AND PAYMENTS ARE IN USD. PART I, LINE 3: GRANT-MAKING ACTIVITIES REPORTED IN PART II INCLUDE 8 GRANTS TO RECIPIENTS WHO RECEIVED SUBSTANCE ABUSE TREATMENT. MUSICARES RECEIVED WEEKLY PROGRESS REPORTS FROM THE FACILITIES TO ENSURE OUR CLIENTS REMAIN IN TREATMENT. MUSICARES ALSO PROVIDED ACCESS TO A MENTAL HEALTH SUPPORT PLATFORM FOR 200 ELIGIBLE CLIENTS, VALUED AT FMV. X X X X X 1 JULIEN ENTERTAINMENT COM INC PO BOX 691789 WEST HOLLYWOOD CA 90069 AUCTION 1 428000 42800 385200 428000 42800 385200 AK AL AR AZ CA CO CT DC DE FL GA HI IA ID IL IN KS KY LA MA MD ME MI MN MO MS MT NC ND NE NH NJ NM NV NY OH OK OR PA RI SC SD TN TX UT VA VT WA WI WV WY PERSON OF THE YEAR 8671526 7616526 1055000 50097 621677 251984 2936679 HOUSE CONCERTS 157249 151624 5625 10083 9353 7452 8828775 7768150 1060625 50097 631760 261337 2944131 3887325 -2826700 1 FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY, INCLUDING BUT NOT LIMITED TO PAYMENTS MADE TO THIRD PARTY VENDORS ON BEHALF OF INDIGENT RECORDING INDUSTRY PERSONNEL. 1632 4398026 FINANCIAL ASSISTANCE FOR ADDICTION RECOVERY SERVICES, INCLUDING BUT NOT LIMITED TO PAYMENTS MADE TO THIRD PARTY VENDORS ON BEHALF OF RECORDING INDUSTRY PERSONNEL FOR SUBSTANCE ABUSE TREATMENT. 108 709522 FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY AFFECTED BY NATURAL DISASTERS INCLUDING THE AUGUST 2023 WILDFIRES IN MAUI, HAWAII. 14 21500 PART I, LINE 2: FOR FINANCIAL ASSISTANCE GRANTS, THE GRANTEE IS REQUIRED TO PROVIDE DOCUMENTATION FOR THE BASIS OF THE GRANT AND MUSICARES WILL PAY DIRECTLY FROM THE PROVIDED DOCUMENTS (I.E., MEDICAL BILLS, INSURANCE, BASIC LIVING INCLUDING RENT, ETC.) DIRECTLY TO THE VENDOR ON BEHALF OF THE GRANTEE. ONLY EMERGENCY GRANTS (I.E., NATURAL DISASTER RELIEF) ARE PAID DIRECTLY TO THE GRANTEE. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 LAURA SEGURA EXECUTIVE DIRECTOR 355642 0 1750 0 4740 0 10340 0 45612 0 418084 0 0 0 THERESA WOLTERS VICE-PRESIDENT 202877 0 1750 0 1839 0 11250 0 1608 0 219324 0 0 0 RYAN DONAHUE MANAGING DIRECTOR 166985 0 1000 0 1533 0 11250 0 27771 0 208539 0 0 0 LINDSEY BURRIS MANAGING DIRECTOR 171679 0 1000 0 1566 0 3523 0 26892 0 204660 0 0 0 VIRGINIA FADDY MANAGING DIRECTOR 150263 0 1000 0 1495 0 10668 0 35834 0 199260 0 0 0 JENNIFER LEFF MANAGING DIRECTOR 138925 0 1000 0 1873 0 15000 0 35691 0 192489 0 0 0 PART I, LINE 1A LAURA SEGURA, EXECUTIVE DIRECTOR, WAS REIMBURSED $6,121 FOR HER SOHO HOUSE MEMBERSHIP TO HELP PROVIDE A SPACE FOR BUSINESS MEETINGS. THE AMOUNT WAS REIMBURSED IN ACCORDANCE WITH AN ACCOUNTABLE PLAN AND WAS NOT TREATED AS TAXABLE COMPENSATION. X 2 62634 COST OR SELLING PRICE X BEVERAGES 11 72460 COST OR SELLING PRIC X TALENT GIFTS 1 4480 COST OR SELLING PRIC 0 0 1 1 PART I, COLUMN (B): THIS INFORMATION REFLECTS THE NUMBER OF CONTRIBUTORS THAT PROVIDED GOODS FOR OUR FUNDRAISING ACTIVITIES. PART I, LINE 32B: MUSICARES USES A THIRD PARTY VENDOR TO PROVIDE GIFTS TO TALENT FOR OUR PERSON OF THE YEAR FUNDRAISING EVENT. IN ADDITION, MUSICARES USES SEVERAL AUCTION HOUSES TO SELL DONATED AUCTION ITEMS ON THE ORGANIZATION'S BEHALF. FORM 990, PART III, LINE 2 DURING THE SUMMER OF 2024, MUSICARES INTRODUCED A SERIES OF CONCERTS. MUSIC INDUSTRY PROFESSIONALS WERE INVITED TO THE CONCERTS IN ORDER TO SHOWCASE PROGRAM SERVICES INCLUDING CUSTOM EARMOLD FITTINGS FOR HEARING PROTECTION AND GENERAL INFORMATION ON OTHER OFFERINGS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED SOLELY OF NO LESS THAN FOUR DIRECTORS AND WHOSE NUMBER SHALL BE FIXED FROM TIME TO TIME BY THE BOARD. THE MEMBERS OF THE EXECUTIVE COMMITTEE SHALL BE ELECTED TO A ONE-YEAR TERM BY VOTE OF THE MAJORITY OF THE ENTIRE BOARD AT THE ANNUAL MEETING OF THE BOARD (OR AT SUCH OTHER MEETING AS MAY BE SELECTED BY THE BOARD) ACTING UPON THE RECOMMENDATIONS OF THE NOMINATING COMMITTEE, PROVIDED, HOWEVER, THAT THE CHAIR (WHO SHALL SERVE AS CHAIR OF THE EXECUTIVE COMMITTEE), VICE CHAIR AND SECRETARY/TREASURER SHALL SERVE EX OFFICIO AS VOTING MEMBERS OF THE EXECUTIVE COMMITTEE. THE CEO SHALL SERVE EX OFFICIO AS A NON-VOTING MEMBER OF THE EXECUTIVE COMMITTEE. ADDITIONAL MEMBERS OF THE EXECUTIVE COMMITTEE MAY BE RECOMMENDED BY THE NOMINATING COMMITTEE FROM TIME TO TIME. DURING THOSE PERIODS WHEN THE BOARD IS NOT IN SESSION, THE EXECUTIVE COMMITTEE SHALL HAVE THE POWER TO ACT WITH THE FULL AUTHORITY OF THE BOARD AND SHALL EXERCISE GENERAL SUPERVISION OF THE AFFAIRS OF THE FOUNDATION, AND IN ALL EVENTS SHALL BE AUTHORIZED TO ADDRESS MATTERS OF A SENSITIVE, CONFIDENTIAL NATURE. FORM 990, PART VI, SECTION A, LINE 2 CHRISTINE ALBERT, PJ MORTON, AND TAMMY HURT HAVE A BUSINESS RELATIONSHIP WITH HARVEY MASON JR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY DELOITTE TAX, LLP, WORKING IN CONJUCTION WITH MUSICARES FOUNDATION INC.'S FINANCE DEPARTMENT. THE DRAFT OF THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. THE INITIAL DRAFT OF THE FORM 990 IS THEN PROVIDED TO MUSICARES FOUNDATION INC.'S FINANCE COMMITTEE FOR ITS REVIEW. ANY COMMENTS RESULTING FROM ITS REVIEW ARE INCORPORATED INTO THE FINAL FILING OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AND QUESTIONNAIRE ARE PRESENTED TO BOARD MEMBERS ON AN ANNUAL BASIS. THE RESPONSES ARE MAINTAINED BY THE MANAGING DIRECTOR, CONTRACT ADMINISTRATION & CORPORATE SECRETARY OF THE RECORDING ACADEMY. THE CONFLICT OF INTEREST POLICY IS MONITORED AND ENFORCED BY BOTH THE EXECUTIVE DIRECTOR AND THE CHAIR OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 ON AN ANNUAL BASIS, THE CHIEF PEOPLE & CULTURE OFFICER AND MANAGER OF COMPENSATION, COMPLIANCE, & HRIS COMPARE THE COMPENSATION PAID TO EXECUTIVES IN SIMILAR TAX-EXEMPT ORGANIZATIONS OF SIMILAR ACTIVITIES AND SIZE. THE PROCESS FOR MUSICARES SENIOR LEADERS IS MANAGED BY THE CHIEF PEOPLE & CULTURE OFFICER, THE EXECUTIVE DIRECTOR, AND CEO. THE EXECUTIVE DIRECTOR'S COMPENSATION IS OVERSEEN BY THE CHIEF PEOPLE & CULTURE OFFICER AND THE CEO OF THE MUSICARES FOUNDATION, IN CONSULTATION WITH THE CHAIR OF THE BOARD. THE CEO OF MUSICARES FOUNDATION IS ALSO THE CEO OF THE NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES, INC. ("THE RECORDING ACADEMY"), AN AFFILIATED BUT UNRELATED TAX EXEMPT ORGANIZATION FOR TAX PURPOSES. THE CEO IS PAID ENTIRELY BY THE RECORDING ACADEMY AND IS SUBJECT TO THE COMPENSATION POLICIES SET FORTH FOR THAT TAX EXEMPT ORGANIZATION. THE CHIEF PEOPLE & CULTURE OFFICER IS ALSO AN EMPLOYEE OF AND PAID ENTIRELY BY THE RECORDING ACADEMY AND IS SUBJECT TO THE COMPENSATION POLICIES SET FORTH FOR THAT TAX EXEMPT ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS AND FORM 990 ARE MADE AVAILABLE ON MUSICARES' WEBSITE AND OTHER WEBSITES LIKE GUIDESTAR.ORG. THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 3115 TANGIBLE PROPERTY REGULATION STATEMENT SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION TAXPAYER IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER TREAS. REG. 1.263(A)-1(F) FOR ALL ELIGIBLE AMOUNTS PAID OR INCURRED DURING THE TAXABLE YEAR. SECTION 1.263(A)-3(N) CAPITALIZATION ELECTION TAXPAYER HEREBY ELECTS TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER TREAS. REG. 1.263(A)-3(N). THE COSTS WERE INCURRED DURING THE TAXABLE YEAR IN THE ELECTING TAXPAYER'S TRADE OR BUSINESS AND THE ELECTING TAXPAYER TREATS SUCH COSTS AS CAPITAL EXPENDITURES ON ITS BOOKS AND RECORDS.