2021-06-15T03:56:30-05:00 2020-07-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2019-08-01 954470909 MUSICARES FOUNDATION INC MUSI 3103923777 3030 OLYMPIC BOULEVARD SANTA MONICA CA 90404 HARVEY MASON JR PRESIDENT/CEO 3103923777 2021-06-14 1 JESSICA KARANTONIS P00969387 7144367100 2019 2022-09-23 18:48:47Z HARVEY MASON JR 3030 OLYMPIC BOULEVARD SANTA MONICA CA 90404 41639398 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. 16 16 20 150 747 0 11033377 34437501 0 0 1372385 177007 -3382616 -2256859 9023146 32357649 5731384 22390092 0 0 2317357 2384869 0 0 916814 1531254 2085200 9579995 26860161 -556849 5497488 23744524 28828154 2030234 1353832 21714290 27474322 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 18381335 17592783 COVID-19 RELIEF: MUSICARES PROVIDES FINANCIAL ASSISTANCE OF UP TO $2,000 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 THREE YEARS. THESE GRANTS ARE MADE AVAILABLE TO MUSIC PEOPLE FACING A LOSS OF WORK AND/OR INCOME DUE TO THE COVID-19 PANDEMIC. THE EMERGENCY FUNDS ARE ISSUED DIRECTLY TO THE APPLICANT. 4572969 3627996 FINANCIAL ASSISTANCE: MUSICARES PROVIDES UP TO $10,000 ANNUALLY FOR EMERGENCY BASIC LIVING, MEDICAL, OR OTHER NEEDS WITH A LIFETIME MAXIMUM OF $15,000. 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. 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. 1531488 1169313 MAP FUND: MUSICARES PROVIDES EMERGENCY FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY FACING ADDICTION. ASSISTANCE LIMITS ARE $8,500 PER YEAR WITH A LIFETIME LIMIT OF $15,000. 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. 24485792 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 1 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 34 0 1 20 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 16 16 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 KY MD MA MI MN MS NH NJ NM NY NC ND OR PA RI SC TN UT VA WV WI X X X RYAN DONAHUE 3103923777 3030 OLYMPIC BLVD SANTA MONICA CA 90049 X X JUDY WONG VP, FINANCE 40.00 0.00 X 204508 0 31575 DEBBIE CARROLL VP, HEALTH & HUMAN SERVICES 40.00 0.00 X 186564 0 43940 HAROLD OWENS SENIOR DIRECTOR 40.00 0.00 X 132070 0 28474 ERICA KRUSEN SENIOR DIRECTOR 40.00 0.00 X 112568 0 29860 EDWYNA WYNN SENIOR DIRECTOR 40.00 0.00 X 116830 0 12180 HARVEY MASON JR DIRECTOR (TO 3/20)/INTERIM PRES./CEO 1.00 0.00 X X 0 0 0 DEBORAH SZULANSKY PRESIDENT/CEO (FROM 8/19 TO 3/20) 1.00 0.00 X 0 0 0 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 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 ANDIE SIMON DIRECTOR (TO 2/20) 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 (FROM 3/20) 1.00 0.00 X 0 0 0 JAMES HIGA DIRECTOR 1.00 0.00 X 0 0 0 JEFF JONES DIRECTOR 1.00 0.00 X 0 0 0 JODY GERSON DIRECTOR 1.00 0.00 X 0 0 0 KIRDIS POSTELLE DIRECTOR 1.00 0.00 X 0 0 0 MIKE KNOBLOCH DIRECTOR 1.00 0.00 X 0 0 0 RITA WILSON DIRECTOR (FROM 3/20) 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 752540 0 146029 6 0 1 0 BOUNCE EVENT MARKETING LLC 12400 WILSHIRE BLVD STE 1275 LOS ANGELES CA 90025 EVENT PRODUCTION 1872788 1OF1 CUSTOM 130 EL CAMINO REAL MILLBRAE CA 94030 HEARING CLINIC PROVIDER 724339 LEVY RESTAURANTS 1201 S FIGUEROA ST LOS ANGELES CA 90015 EVENT CATERING 398338 CUMBERLAND HEIGHTS TREATMENT CTR PO BOX 90727 8283 RIVER RD NASHVILLE TN 37209 SOBRIETY TREATMENT CENTER 262217 PROSKAUER ROSE LLP 11 TIMES SQUARE NEW YORK NY 10036 LEGAL SERVICES 166780 11 6794515 27642986 1323826 34437501 1074370 1074370 3747769 4645132 -897363 -897363 -897363 1925518 6794515 4636617 -2711099 -2711099 ONLINE AUCTIONS 900099 453493 453493 TV LICENSING 541200 747 747 454240 32357649 0 747 -2080599 22321117 22321117 68975 68975 1889507 1118739 512645 258123 69498 50093 14113 5292 290302 189301 68927 32074 135562 80966 37825 16771 135584 52526 78486 4572 120150 120150 156747 156747 1079931 306295 328036 445600 33807 15818 8289 9700 79760 48519 21763 9478 13105 8059 3498 1548 94007 67379 22849 3779 25157 24760 397 41109 7680 33429 DUES AND SUBSCRIPTIONS 96879 13818 10802 72259 BANK CHARGES 64148 57761 6387 TAXES AND LICENSES 43553 21620 14677 7256 GRAMMY TICKETS 39900 39900 61363 32366 24922 4075 26860161 24485792 1457555 916814 1200 1200 1697989 7746171 82393 796651 3374 2944 374084 294940 104301 79144 21779996 20146544 75271 55500 23744524 28828154 509697 701024 371766 277876 1148771 374932 2030234 1353832 X 21675616 24584312 38674 2890010 21714290 27474322 23744524 28828154 5497488 266134 -3590 0 X 0 1 X 1 0 X 13991441 16833286 10609757 11033377 34437501 86905362 13991441 16833286 10609757 11033377 34437501 86905362 17584408 69320954 846530 880179 1146531 1342185 1074370 5289795 2248894 2319827 3310100 2025195 2379011 12283027 104478184 0.66350 0.58240 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS - 2015 AMOUNT: $ 1,935,575. 2016 AMOUNT: $ 2,060,316. 2017 AMOUNT: $ 2,886,531. 2018 AMOUNT: $ 1,751,743. 2019 AMOUNT: $ 1,925,518. ONLINE AUCTIONS - 2015 AMOUNT: $ 313,319. 2016 AMOUNT: $ 259,511. 2017 AMOUNT: $ 423,569. 2018 AMOUNT: $ 273,452. 2019 AMOUNT: $ 453,493. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 10603743 14462 11240 10606965 10592588 733298 722143 10603743 10648098 1454722 1510232 10592588 10533673 1197595 1083170 10648098 10378665 855310 700302 10533673 1.00000 0 0 156903 81984 74919 217181 212956 4225 79144 PAYABLE TO THE NARAS FOUNDATION 10321 PAYABLE TO RECORDING ACADEMY 364611 374932 X 37577589 266134 317188 4636618 5219940 32357649 0 32357649 31813967 317188 4636618 4953806 26860161 0 26860161 PART X, LINE 2: MUSICARES FOUNDATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC 740), INCOME TAXES. FASB ASC740 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, 2020 AND 2019, MUSICARES FOUNDATION DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES NETTED WITH REVENUE ON PART VIII, LINE 8B 4,636,618. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES NETTED WITH REVENUE ON PART VIII, LINE 8B 4,636,618. 1 CENTRAL AMERICA AND THE CARIBBEAN GRANT-MAKING 57500 NORTH AMERICA GRANT-MAKING 10865 EUROPE (INCLUDING ICELAND & GREENLAND) GRANT-MAKING 610 NORTH AMERICA FUNDRAISING ACTIVITIES 248846 EUROPE (INCLUDING ICELAND & GREENLAND) FUNDRAISING ACTIVITIES 243583 EAST ASIA AND THE PACIFIC FUNDRAISING ACTIVITIES 127180 0 0 0 0 0 0 688584 0 688584 CENTRAL AMERICA AND THE CARIBBEAN ADDICTION RECOVERY 57500 CHECK NORTH AMERICA ADDICTION RECOVERY 8000 CHECK EUROPE (INCLUDING ICELAND & GREENLAND) FINANCIAL ASSISTANCE 610 CHECK NORTH AMERICA FINANCIAL ASSISTANCE 1000 CHECK NORTH AMERICA FINANCIAL ASSISTANCE 865 CHECK 0 5 0 0 0 0 0 0 PART III ACCOUNTING METHOD: PART I, LINE 2: 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 3 GRANTS FOR BASIC NEEDS (RENT, UTILITIES, REPAIRS) AND 1 GRANT FOR COVID-19 RELIEF TO INDIVIDUALS WHO WERE APPROVED FOR AID. PERSON OF THE YEAR DINNER/AUCTION 8281229 6742490 1538739 36770 408824 303200 3789458 ERIC CHURCH BAND GOLF TOURNAMENT 280544 50000 230544 9165 1917 86223 2 158260 2025 156235 1060 8720033 6794515 1925518 45935 410741 303200 3876741 4636617 -2711099 1 0 0 FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY FACING A LOSS OF WORK AND/OR INCOME DUE TO THE CORONAVIRUS PANDEMIC. 17566 17590783 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. 8319 3606121 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. 196 1103813 FINANCIAL ASSISTANCE TO INDIVIDUALS WITHIN THE MUSIC COMMUNITY IMPACTED BY NATURAL DISASTERS. 20 20400 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., COVID-19 RELIEF) ARE PAID DIRECTLY TO THE GRANTEE. X X X X X 0 0 0 0 0 0 0 0 0 JUDY WONG VP, FINANCE 198769 0 1750 0 3989 0 9405 0 22170 0 236083 0 0 0 DEBBIE CARROLL VP, HEALTH & HUMAN SERVICES 182407 0 1750 0 2407 0 12493 0 31447 0 230504 0 0 0 HAROLD OWENS SENIOR DIRECTOR 126312 0 1000 0 4758 0 4550 0 23924 0 160544 0 0 0 X CERTIFICATES 3 888420 COST OR SELLING PRIC X GIFT BAGS 9 244789 COST OR SELLING PRIC X VIDEO EQUIPMENT 2 166130 COST OR SELLING PRIC X BEVERAGES 3 24487 COST OR SELLING PRIC 0 0 1 PART I, COLUMN (B): THIS INFORMATION REFLECTS THE NUMBER OF CONTRIBUTORS THAT PROVIDED CERTIFICATES AND OTHER PRODUCTS FOR OUR FUNDRAISING EVENTS. PART I, LINE 32B: MUSICARES USES A THIRD PARTY VENDOR TO PROVIDE GIFTS TO TALENT IN THE GIFTING LOUNGE FOR OUR PERSON OF THE YEAR FUNDRAISING EVENT. MUSICARES USES ANOTHER THIRD PARTY VENDOR TO HELP SOLICIT ITEMS FOR OUR PERSON OF THE YEAR AUCTION. IN ADDITION, MUSICARES USES SEVERAL AUCTION HOUSES TO SELL DONATED AUCTION ITEMS ON THE ORGANIZATION'S BEHALF. FORM 990, PART III, LINE 2 COVID-19 RELIEF FUND: MUSICARES LAUNCHED A COVID-19 RELIEF EFFORT TO HELP OUR PEERS IN THE MUSIC COMMUNITY AFFECTED BY THE CORONAVIRUS PANDEMIC. FORM 990, PART VI, SECTION A, LINE 1 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 PRESIDENT 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 FOUNDATION, AND IN ALL EVENTS SHALL BE AUTHORIZED TO ADDRESS MATTERS OF A SENSITIVE, CONFIDENTIAL NATURE. FORM 990, PART VI, SECTION A, LINE 2 AS AN OFFICER OF NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES, INC. ("THE RECORDING ACADEMY"), HARVEY MASON JR. HAS AN EMPLOYMENT RELATIONSHIP WITH DEBORAH SZULANSKY, WHO WAS AN EMPLOYEE OF THE RECORDING ACADEMY DURING THE TAX YEAR. AS BOARD MEMBERS OF THE RECORDING ACADEMY, MIKE KNOBLOCH AND CHRISTINE ALBERT HAVE AN EMPLOYMENT RELATIONSHIP WITH DEBORAH SZULANSKY, WHO WAS AN EMPLOYEE OF THE RECORDING ACADEMY DURING THE TAX YEAR. 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 A BI-ANNUAL BASIS, MANAGEMENT PREPARES AN ANALYTICAL STUDY OF EXECUTIVE COMPENSATION THAT COMPARES THE COMPENSATION PAID TO EXECUTIVES IN SIMILAR TAX-EXEMPT ORGANIZATIONS OF SIMILAR ACTIVITIES AND SIZE, USING THE AMOUNTS REPORTED ON THE FORM 990 FOR THESE SIMILAR ORGANIZATIONS. THE PROCESS IS MANAGED BY THE SENIOR VICE PRESIDENT, WITH INPUT FROM OUR INDEPENDENT PUBLIC ACCOUNTING FIRM. THIS STUDY IS THEN PROVIDED TO THE ORGANIZATION'S AUDIT COMMITTEE FOR REVIEW. THE PROCESS TO DETERMINE THE SENIOR VICE PRESIDENT'S COMPENSATION IS THE SAME, AND IT IS OVERSEEN BY THE PRESIDENT AND CEO OF MUSICARES FOUNDATION IN CONSULTATION WITH THE CHAIR OF THE BOARD. THE PRESIDENT AND CEO OF MUSICARES FOUNDATION IS ALSO THE PRESIDENT AND CEO OF THE NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES, INC. ("THE RECORDING ACADEMY"), AN AFFILIATED BUT UNRELATED TAX EXEMPT ORGANIZATION FOR TAX PURPOSES. THE PRESIDENT AND CEO IS PAID ENTIRELY BY NARAS 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 ARE INCORPORATED IN FORM 990 THAT IS MADE AVAILABLE TO THE PUBLIC ON GUIDESTAR.ORG. THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII: ALL OF DEBORAH SZULANSKY'S COMPENSATION IS PAID BY THE RECORDING ACADEMY, AN AFFILIATED EXEMPT ORGANIZATION, FOR HER SERVICES TO THEM. HER SERVICES TO THE MUSICARES FOUNDATION ARE AS A VOLUNTEER AND AS SUCH, SHE IS NOT COMPENSATED BY THE MUSICARES FOUNDATION FOR ANY OF HER WORK AS ITS PRESIDENT AND CEO. 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.