2020-07-10T16:16:20-05:00 2019-09-30 560574444 CHERRY BEKAERT LLP 401 EAST JACKSON ST SUITE 1200 TAMPA FL 33602 990 2018-10-01 593524613 TAMPA BAY PERFORMING ARTS CENTER FOUNDATION INC TAMP 8132221044 1010 NORTH WC MACINNES PLACE TAMPA FL 33602 MARY BETH ROSSI CFO (CENTER) 8132221044 2020-06-30 1 AMANDA ADAMS P00748038 8132511010 76.105.106.201 2020-06-30 06:44:09 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 18694F53AD11E15FFCEA276DE93F63B2E746D691 2018 2021-01-29 14:40:06Z JUDITH LISI 1010 NORTH WC MACINNES PLACE TAMPA FL 33602 14320471 0 X N/A X 1997 FL SEE SCHEDULE O. 15 14 0 14 0 0 712789 1049814 0 0 1522409 1787664 0 0 2235198 2837478 1981578 1599244 0 0 0 0 0 0 274081 795781 846984 2777359 2446228 -542161 391250 39858054 40187736 1073504 871989 38784550 39315747 X SEE SCHEDULE O 0 0 1599244 1599244 IN FISCAL YEAR 2018/2019, THE TBPAC FOUNDATION, INC. CARRIED OUT ITS MISSION IN SUPPORTING THE TAMPA BAY PERFORMING ARTS CENTER, INC. (THE "CENTER") THROUGH DISBURSEMENT OF (A) APPROVED SPENDING POLICY DISTRIBUTION GRANTS AND (B) GRANTS OF GIFTS RECEIVED FROM OTHER FOUNDATIONS TO SUPPORT CENTER EDUCATION AND OPERA PROGRAMS, ARTISTIC INITIATIVES, FACILITY IMPROVEMENTS AND GENERAL OPERATIONS.SPENDING POLICY DISTRIBUTIONS ARE BASED ON THE RELATED ESTABLISHED BOARD POLICY TO PROVIDE A CONSISTENT PROCESS TO MOVE FUNDS FROM THE ENDOWMENT TO OPERATING FUNDS ON AN ANNUAL OR APPROVED BASIS. GIFTS RECEIVED BY THE FOUNDATION AND TRANSFERRED TO THE CENTER FROM OTHER FOUNDATIONS ARE APPROVED BY THE FOUNDATION BOARD OR PER DONOR REQUEST.WITH THE FOUNDATION SERVING AS THE ENDOWMENT FUND AND SUPPORT FOR THE CENTER, THE FOUNDATION PROVIDED THE CENTER FINANCIAL STABILITY IN FISCAL YEAR 2018/2019 AND HELPED MAINTAIN THE CENTER'S HIGH STANDARDS OF EXCELLENCE AND CREATIVITY AS WELL AS PROVIDING PATRONS THE ABILITY TO CONTINUE TO ENJOY THE CENTER'S PROGRAMS.TBPAC FOUNDATION, INC. ENDOWMENT BY THE NUMBERS:$64 MILLION IN GIFTS AND PLEDGES HAS BEEN COMMITTED TO THE STRAZ CENTER ENDOWMENT FROM BOTH THE PRIVATE AND PUBLIC SECTORS THROUGH OUTRIGHT GIFTS AND PLANNED GIFTS. IN 2018/2019, $1.4 MILLION OF ENDOWMENT EARNINGS WERE DISTRIBUTED TO THE STRAZ CENTER'S OPERATING BUDGET TO SUPPORT ARTISITC EXCELLENCE, ARTS EDUCATION AND OUR STATE-OF-THE-ART FACILITIES.IMPACT OF THE ENDOWMENT:INCOME FROM OUR ENDOWMENT ALLOWS THE STRAZ CENTER TO PROVIDE THE HIGHEST LEVEL OF ARTISTIC PROGRAMMING WHILE ALSO ENSURING THAT YOUNG TALENT FLOURISHES IN OUR COMMUNITY. IT ALSO SUPPORTS VITAL CAPITAL PROJECTS THAT HELP THE STRAZ CENTER REMAIN AN INDUSTRY STANDARD. 23 NAMED ENDOWMENT FUNDS PROVIDE SUPPORT THROUGH ENDOWMENT EARNINGS IN THE AREAS OF ARTISTIC EXCELLENCE, CAMPUS IMPROVEMENTS, ARTS EDUCATION, OPERA TAMPA, OUTREACH AND COMMUNITY EDUCATION, ARTS EDUCATION SCHOLARSHIPS, TICKET SUBSIDIES, AND MORE.ARTISTIC EXCELLENCE - LAST YEAR, MORE THAN 546,000 PEOPLE CAME TO THE STRAZ CENTER TO SEE A DIVERSE MENU OF WORLD-CLASS CULTURAL OFFERINGS. THESE OFFERINGS INCLUDE THE POPULAR BROADWAY AT THE STRAZ SERIES, OPERA TAMPA, INTIMATE CONCERTS IN CLUB JAEB, THE NATIONAL GEOGRAPHIC SPEAKERS, DANCE, COMEDY AND SO MUCH MORE. WITH A BROADWAY LINEUP THIS YEAR THAT INCLUDES TONY AWARD-WINNING SHOWS LIKE DEAR EVAN HANSEN, HELLO DOLLY!, A BRONX TALE, COME FROM AWAY AND OTHERS, THE STRAZ HAS WELCOMED A RECORD NUMBER OF SUBSCRIBERS AND NEW GUESTS. IN MARCH, THE STRAZ CENTER WAS THRILLED TO HOST THE INTERNATIONAL PHENOMENON, HAMILTON, FOR 31 SHOWS IN MORSANI HALL, INTRODUCING AUDIENCES OF ALL AGES TO THE PERFORMING ARTS.OPERA TAMPA THIS YEAR, OPERA TAMPA OFFERED ANOTHER EXCITING YEAR OF WORLD CLASS PERFORMANCES ON THE STAGE OF MORSANI HALL, GEORGES BIZET'S THE PEARL FISHERS. IN ADDITION TO THE POWERFUL MAINSTAGE PRODUCTIONS THAT TAKE PLACE AT THE STRAZ CENTER EACH YEAR, THE OPERA TAMPA SINGERS EDUCATION OUTREACH PROGRAM BROUGHT THE JOY OF OPERA TO OVER 5,000 CHILDREN, SPECIAL NEEDS ADULTS, FAMILIES, AND SENIORS IN 30 SCHOOLS AND COMMUNITY ORGANIZATIONS.ARTS EDUCATION - ARTS EDUCATION ISN'T ABOUT TURNING STUDENTS INTO PROFESSIONAL ARTISTS; IT IS ABOUT RAISING CULTURAL LITERACY AND EMPOWERING YOUNG PEOPLE WITH CREATIVITY AND LEADERSHIP SKILLS. OUR ARTS EDUCATION PROGRAMS ENGAGE MORE THAN 50,000 PEOPLE EACH YEAR. THE PATEL CONSERVATORY IS FULLY ACCREDITED AND WELCOMES STUDENTS OF ALL AGES TO PURSUE YEARROUND TRAINING IN DANCE, MUSIC, AND THEATER. IN ADDITION, WE HAVE CONTINUED OUR MISSION OF BRINGING ARTS EDUCATION TO SPECIAL NEEDS STUDENTS THROUGH SENSORY-FRIENDLY STUDENT PRODUCTIONS, ADAPTIVE DANCE CLASSES, AND ARTS LEARNING EXPERIENCES DESIGNED TO HELP THESE CHILDREN DISCOVER THEIR VOICES.OUTREACH - IN 2019, THE STRAZ CENTER SERVED 52 PARTNERING SCHOOLS AND AGENCIES AND OVER 4,600 STUDENTS THROUGH OUR COMMUNITY PARTNERSHIP PROGRAM. SCHOLARSHIPS - SCHOLARSHIPS ENABLED STUDENTS, ESPECIALLY THOSE WHO OTHERWISE WOULD BE UNABLE TO PARTICIPATE, TO ENROLL IN CLASSES AND CAMPS AT THE PATEL CONSERVATORY. SCHOLARSHIPS ENSURE THAT THE PATEL CONSERVATORY CURRICULUM IN DANCE, MUSIC, AND THEATER IS ACCESSIBLE TO ALL. IN 2019, 648 ARTS EDUCATION SCHOLARSHIPS WERE AWARDED TOTALLING NEARLY $394,000 IN NEED-BASED AND MERIT SCHOLARSHIPS WAS AWARDED TO STUDENTS IN GRADES K-12 TO PURSUE TRAINING IN THEIR AREA OF INTEREST. SINCE OUR SCHOLARSHIP PROGRAM LAUNCHED IN 2007, MILLIONS OF DOLLARS HAVE BEEN AWARDED TO DESERVING STUDENTS WITH LIMITED RESOURCES MANY THROUGH ENDOWED SCHOLARSHIP FUNDS ESTABLISHED BY PLANNED ESTATE GIFTS. THE PROGRAM HAS HELPED PRODUCE OVER 30 DISTINGUISHED ALUMNI WHO ARE PURSUING PERFORMING ARTS CAREERS IN THE UNITED STATES AND ACROSS THE WORLD. TWO NEW COMMUNITY ENGAGEMENT INITIATIVES HELPED US CONTINUE TO CREATE IMPACT THROUGHOUT THE COMMUNITY: OUR ARTS LEGACY REMIX AND STRAZ SALUTES. BOTH PROGRAMS EMERGED FROM OUR COMMITMENT TO THE COMMUNITY AND WE ARE PLEASED TO REPORT THAT ARTS LEGACY REMIX ATTRACTED HUNDREDS OF PEOPLE TO OUR FREE COMMUNITY CULTURAL CELEBRATIONS. STRAZ SALUTES - A COMPREHENSIVE EFFORT TO MAKE VETERANS, ACTIVE MILITARY AND THEIR FAMILIES WELCOME HERE THROUGH PERFORMANCES, PROGRAMS AND ARTIST OPPORTUNITIES RESULTED IN STRONGER, MORE AUTHENTIC BONDS WITH OUR MILITARY COMMUNITY.TICKET SUBSIDIES - OUR OPERATION TICKETS PROGRAM PROVIDE OVER 42,000 SUBSIDIZED TICKETS TO INDIVIDUALS, ORGANIZATIONS AND SCHOOLS. STUDENTS FROM PARTICIPATING SCHOOLS, INCLUDING A MAJORITY OF TITLE I SCHOOLS, USE THESE SCHOLARSHIPS TO ATTEND DIFFERENT STRAZ CENTER PERFORMANCES RELATED TO THEIR CLASSROOM STUDIES. THE RACHEL LISI ENDOWED TICKET SUBSIDY FUND ALSO PROVIDES PERFORMANCE TICKETS TO LOWINCOME AND UNDERSERVED INDIVIDUALS AND FAMILIES.CAPITAL IMPROVEMENTS - THE STRAZ CENTER CONTINUES TO BE A STATE-OF-THE-ART FACILITY THAT OFFERS THE VERY BEST EXPERIENCE FOR PERFORMERS AND PATRONS ALIKE. DURING THIS PAST YEAR, DANCE FLOORS IN OUR PATEL CONSERVATORY DANCE STUDIOS WERE UPGRADED TO PROVIDE ENHANCED CLASS INSTRUCTION FOR OUR DANCE STUDENTS. IN ADDITION, OUR PATRON EXPERIENCE WAS ELEVATED THROUGH OUR VENUE SEAT RENOVATION PROJECT. THIS PROJECT INCLUDED COMPLETION OF THE RESTORATION OF ALL SEATS IN OUR MORSANI AND FERGUSON HALLS. WE ALSO OPENED SIP, OUR FUN RETRO AIRSTREAM BAR AND OUTDOOR STAGE ON THE RIVERWALK, WHICH HAS DONE WONDERS FOR OUR EFFORTS TO ACTIVATE THE WATERFRONT AND LET PEOPLE KNOW OUR CAMPUS IS OPEN TO EVERYONE, WHETHER THEY HAVE A TICKET OR NOT. SIP AND OUR OUTDOOR STAGE ESTABLISHED US AS A HANGOUT, WHICH IS EXACTLY WHERE WE WANT TO BE AS WE HEAD INTO OUR STRATEGIC MASTER PLAN OVER THE NEXT THREE-TO-FIVE YEARS AND AS THE DOWNTOWN METROPOLIS TAKES SHAPE AROUND US. 1599244 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 X MARY BETH ROSSI 8132221044 1010 N WC MACINNES PLACE TAMPA FL 336023720 AD SANDY MACKINNON CHAIRMAN 1.00 1.00 X X 0 0 0 BILL WEST TREASURER 1.00 1.00 X X 0 0 0 DON DEFOSSET BOARD DIRECTOR 1.00 0.00 X 0 0 0 JOHN JAEB BOARD DIRECTOR 1.00 0.00 X 0 0 0 HELEN KERR BOARD DIRECTOR 1.00 0.00 X 0 0 0 JACK KIRKLAND BOARD DIRECTOR 1.00 1.00 X 0 0 0 FRANK MORSANI BOARD DIRECTOR 1.00 1.00 X 0 0 0 FRANK J RIEF III BOARD DIRECTOR 1.00 0.00 X 0 0 0 GARY SASSO BOARD DIRECTOR 1.00 1.00 X 0 0 0 HINKS SHIMBERG BOARD DIRECTOR 1.00 1.00 X 0 0 0 MARTIN L SILBIGER BOARD DIRECTOR 1.00 1.00 X 0 0 0 WILLIAM E STARKEY BOARD DIRECTOR 1.00 0.00 X 0 0 0 DAVID A STRAZ JR BOARD DIRECTOR 1.00 0.00 X 0 0 0 JERRY WILLIAMS BOARD DIRECTOR 1.00 0.00 X 0 0 0 JUDITH LISI CEO (CENTER) 8.00 40.00 X X 0 663439 32533 LORRIN SHEPARD COO (CENTER) 8.00 40.00 X 0 221919 22103 MARY BETH ROSSI CFO (CENTER) 8.00 40.00 X 0 251665 27895 JULIE BRITTON EXECUTIVE VP, DEVELOPMENT 8.00 40.00 X 0 171549 17288 CHRISTOPHER HARRELL DIRECTOR, MAJOR GIFTS & PLANNED GIVING 40.00 0.00 X 0 104307 0 0 1412879 99819 0 0 1 0 TAMPA BAY PERFORMING ARTS CENTER 1010 NORTH WC MACINNES PLACE TAMPA FL 33602 ADMINISTRATIVE SERVICES 312792 MERRILL LYNCH 101 E KENNEDY BLVD TAMPA FL 33602 INVESTMENT MANAGEMENT SERVICES 156043 2 1049814 167107 1049814 844163 844163 12426494 11482993 943501 943501 943501 2837478 0 0 1787664 X 1599244 1599244 15000 15000 209078 209078 430007 312792 117215 627 627 3000 3000 12019 12019 SHARED SERVICES 118938 118938 DONOR RESEARCH 18111 18111 DONOR COMMUNICATION MAT 14471 14471 BAD DEBT 13593 13593 12140 7421 4719 2446228 1599244 572903 274081 4889 101544 110645 8200912 8004626 30825669 31167465 826584 803456 39858054 40187736 62522 52142 522105 204218 488877 615629 1073504 871989 X 8539619 4347850 2368564 6549779 27876367 28418118 38784550 39315747 39858054 40187736 X 391250 164076 -24129 X 0 1 X 1 0 X X 1 TAMPA BAY PERFORMING ARTS CENTER INC 592037085 7 1 1599244 0 1 1599244 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1: FIFTY PERCENT OF TRUSTEES ON THE TAMPA BAY PERFORMING ARTS CENTER INC. DBA DAVID A. STRAZ JR. CENTER FOR THE PERFORMING ARTS ARE BOARD DIRECTORS OF TAMPA BAY FOUNDATION INC. THE CONTROL AND MANAGEMENT BY THESE DIRECTORS IS VESTED AS TRUSTEES OF THE TBPAC CENTER INC., GIVEN THEY ATTEND THE RESPECTIVE BOARD MEETINGS ON EACH ENTITY AND HAVE VOTING RIGHTS. IN ADDITION, THE PRESIDENT AND CEO OF THE TBPAC CENTER INC., IS ALSO A BOARD DIRECTOR OF THE TBPAC FOUNDATION AND THE TREASURER OF THE CENTER SITS ON THE FOUNDATION BOARD, AS WELL AS CONVERSELY THE TREASURER OF THE FOUNDATION SITS ON THE CENTER BOARD. ACCORDINGLY, FROM BOTH A CENTER AND FOUNDATION BOARD GOVERNANCE OVERSIGHT, AN ADEQUATE LEVEL OF VESTING AND SUPPORT BY BOTH BOARDS FOR ANY FUNDING REQUESTS THAT THE CENTER MAY HAVE GIVEN THE ONLY MISSION OF THE FOUNDATION IS TO SUPPORT THE CENTER. FOR THE CURRENT 2018 TAX YEAR THE CENTER'S FUNDING REQUIREMENTS FROM THE FOUNDATION BOARD CONSIST OF A) ANNUAL ADMINISTRATIVE SERVICE FEES - FOR ADMINISTRATIVE SUPPORT PROVIDED BY THE CENTER TO THE FOUNDATION THROUGH AN ARMS LENGTH SERVICE AGREEMENT AND B) ANNUAL SPENDING POLICY DISTRIBUTION (2-5% OF UNRESTRICTED ENDOWMENT PORTFOLIO INVESTED EARNINGS). IF THERE ARE ANY ONE TIME REQUESTS FROM THE CENTER TO THE FOUNDATION FOR SPECIAL FUNDING NEEDS, THE REQUEST IS DISCUSSED WITH THE CENTER'S BOARD FINANCE AND EXECUTIVE COMMITTEES AND THEN BROUGHT FORWARD TO THE TREASURER AND FOUNDATION BOARD FOR CONSIDERATION AND APPROVAL. IN ADDITION, NOTE THE FOUNDATION'S INVESTMENT COMMITTEE, THE ONLY STANDING BOARD COMMITTEE OF THE FOUNDATION, IS COMPRISED OF BOTH BOARD TRUSTEES OF THE CENTER AND THE FOUNDATION. THIS COMMITTEE OVERSEES BOTH THE CENTER AND FOUNDATION'S ENDOWMENT PORTFOLIOS, WITH THE PUBLIC ENDOWMENT GRANT MATCH FUNDS RESIDING IN THE CENTER'S PORTFOLIO. THEREFORE, THE INVESTMENT COMMITTEE IS COMPRISED OF A TOTAL OF 8 BOARD MEMBERS, COMING FROM BOTH BOARDS, COMPRISED OF 3 FOUNDATION BOARD DIRECTORS AND 5 CENTER BOARD TRUSTEES. THE CHAIR OF THIS COMMITTEE IS THE VICE CHAIR OF THE CENTER BOARD, WHO IS ALSO THE TREASURER OF THE FOUNDATION BOARD. THE PRESIDENT OF THE CENTER WHO SERVES AS A BOARD DIRECTOR OF THE FOUNDATION, ALSO SERVES ON THIS COMMITTEE. THE TWO CENTER BOARD TRUSTEES THAT SERVE ON THIS COMMITTEE ARE ALSO ON THE CENTER'S FINANCE COMMITTEE, OF WHICH ONE IS THE TREASURER OF THE CENTER BOARD. WITH THE ABOVE INDICATED INTERACTION OF BOARD MEMBERS ACROSS BOTH BOARDS, THE VESTED AND COMMITTED INTEREST OF BOTH ENTITIES FUNDING AND MISSION IS CONSIDERED EVIDENT AND PRACTICED. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 19880452 923242 1772667 673768 21902593 19590533 1370750 2751404 3832235 19880452 23396345 1534812 2190532 7531156 19590533 21106198 1713956 2729003 2152812 23396345 22807304 1428800 188797 3318703 21106198 0.00000 0.94050 0.05950 1 0 0 DUE TO TAMPA BAY PERFORMING ARTS CENTER 615629 615629 PART V, LINE 4: TAMPA BAY PERFORMING ARTS CENTER FOUNDATION, INC (THE "FOUNDATION") IS BENEFICIARY OF THE RELATED FUNDS AT THE COMMUNITY FOUNDATION OF TAMPA BAY AND IS ENTITLED TO ALLOCATED DISTRIBUTIONS OF NET EARNINGS. PERMANENT ENDOWMENT FUNDS HELD IN TRUST BY THE TAMPA BAY COMMUNITY FOUNDATION FOR THE BENEFIT OF THE FOUNDATION CONSIST OF DISTRIBUTION AND USAGE OF INVESTMENT EARNINGS FOR BOTH UNRESTRICTED AND RESTRICTED DONOR DESIGNATED PURPOSES. THE USAGE OF THE UNRESTRICTED EARNINGS ALLOWS THE FOUNDATION THE FLEXIBILITY TO USE THE INVESTMENT INCOME RETURN AS BEST SERVES THE ORGANIZATION'S IMMEDIATE CHALLENGES AND FUNDING REQUIREMENTS AS APPROVED BY THE BOARD. INTERNAL GUIDELINES FOR UNRESTRICTED EARNINGS ALLOW USAGE FOR OPERATING EXPENSES FOR ADMINISTRATIVE AND PROGRAMMING ACTIVITIES AS WELL AS SPECIAL PROJECTS. THE RESTRICTED DONOR DESIGNATIONS ON USAGE OF INVESTMENT EARNINGS ARE RELATED TO EDUCATION MUSIC PROGRAMMING. ENDOWMENT PROGRAM ALSO ALLOWS TAMPA BAY PERFORMING ARTS CENTER, INC. TO EXPAND ITS EDUCATIONAL PROGRAMMING AND INCREASE ITS IMPACT ON THE COMMUNITY. 1 TAMPA BAY PERFORMING ARTS CENTER INC 1010 N WC MACINNES PLACE TAMPA FL 33602 592037085 501(C)(3) 1599244 DONOR DESIGNATED PROGRAMS, GENERAL PROGRAMMING, AND CAPITAL PROJECT SUPPORT 1 0 PART I, LINE 2: MONEY IS PROVIDED AS APPROVED BY THE FOUNDATION BOARD OF DIRECTORS TO THE TAMPA BAY PERFORMING ARTS CENTER (THE "CENTER") AS A RESULT OF THE FOUNDATION'S ROLE AS A SUPPORTING ORGANIZATION TO THE CENTER, IN ACCORDANCE WITH THE FOUNDATION'S SPENDING POLICY AS APPLICABLE AS WELL AS PER DONOR RESTRICTED DESIGNATIONS ON RESPECTIVE ENDOWMENT EARNINGS. THE FUNDS ARE TO BE USED IN CONJUNCTION WITH THE MISSION OF THE CENTER AND/OR AS DESIGNATED BY RESPECTIVE DONORS. 0 0 0 0 0 0 0 0 0 JUDITH LISI CEO (CENTER) 0 425621 0 203477 0 34341 0 22000 0 10533 0 695972 0 0 LORRIN SHEPARD COO (CENTER) 0 170527 0 20000 0 31392 0 16154 0 5949 0 244022 0 0 MARY BETH ROSSI CFO (CENTER) 0 195421 0 20000 0 36244 0 18533 0 9362 0 279560 0 0 JULIE BRITTON EXECUTIVE VP, DEVELOPMENT 0 126341 0 17000 0 28208 0 12364 0 4924 0 188837 0 0 X 1 149297 FMV X LIFE INSURANCE POLICY 1 17810 CASH SURRENDER VALUE 0 0 0 0 FORM 990, PART III, LINE 1, ORGANIZATION'S MISSION: THE FOUNDATION IS ORGANIZED AS A SUPPORTING ORGANIZATION EXCLUSIVELY FOR, AND IS DEDICATED TO, THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, THE TAMPA BAY PERFORMING ARTS CENTER, INC. (THE "CENTER"), A 501(C)(3) ORGANIZATION TO WHICH CONTRIBUTIONS ARE DEDUCTIBLE UNDER SECTION 170 OF THE INTERNAL REVENUE CODE OF 1986, AS SUCH CODE IS AMENDED FROM TIME TO TIME, (THE "INTERNAL REVENUE CODE"). THE FOUNDATION SHALL INVEST ITS FUNDS AND SERVE AS AN ENDOWMENT FUND FOR THE SUPPORTED ORGANIZATION, NAMELY THE TAMPA BAY PERFORMING ARTS CENTER, INC. THE FOUNDATION SHALL ENCOURAGE AND MOTIVATE THE MAKING OF GIFTS, DONATIONS AND BENEFACTIONS BY INTERVIVOS GIFT, DEED WILL AND OTHERWISE, FOR THE ADVANCEMENT, OR PROMOTION, OF PROGRAMS OR AND MAINTENANCE OF, THE ACTIVITIES, OPERATIONS AND CAPITAL PROJECTS OF THE TAMPA BAY PERFORMING ARTS CENTER, INC. THIS ORGANIZATION SHALL CONDUCT CORPORATE AND PUBLIC FUND-RAISING ACTIVITIES ON BEHALF OF THE CENTER AND IN SUPPORT OF THE ACTIVITIES, OPERATIONS AND CAPITAL PROJECTS OF THE CENTER. THE FOUNDATION SHALL DISTRIBUTE ITS NET INCOME AT LEAST ANNUALLY TO THE CENTER. THE FOUNDATION MAY DISTRIBUTE ANY UNRESTRICTED AND QUASI ENDOWMENT FUNDS AS APPROVED BY THE TAMPA BAY PERFORMING ARTS CENTER, INC., AND THE TAMPA BAY PERFORMING ARTS CENTER FOUNDATION, INC. FORM 990, PART VI, SECTION B, LINE 11B BEFORE THE FORM IS FILED FOR THE FOUNDATION, IT WILL BE REVIEWED BY THE FOUNDATION'S TREASURER AND CFO. THE CFO AND TREASURER WILL THEN PRESENT IT TO THE AUDIT COMMITTEE AT A SPECIAL DEDICATED MEETING WITH A HIGHLIGHTED REVIEW OF THE FORM SECTION BY SECTION BEING DONE BY THE CONTROLLER, CFO AND CEO, AS APPLICABLE. AFTER THE TREASURER AND AUDIT COMMITTEE HAVE REVIEWED THE FORM, THE CFO WILL PROVIDE: (1) A SUMMARY OF THE HIGHLIGHTED REVIEW OF THE FORM 990 SECTION BY SECTION ALONG WITH (2) A FINAL DRAFT OF THE RESPECTIVE FORM 990 FOR THE YEAR BEING FILED TO ALL BOARD MEMBERS WHO HAVE VOTING PRIVILEGES AND (3) A RECOMMENDATION FOR MOTION FOR APPROVAL FOR THE FORM 990 TO BE FILED AS BEING PRESENTED IN FINAL DRAFT FORM. THIS WILL BE DONE VIA A PROTECTED BOARD PORTAL WEBSITE FOR WHICH PASSWORDS WILL BE GIVEN FOR PROTECTED ACCESS. BOARD MEMBERS WILL HAVE THE OPPORTUNITY TO SEND IN QUESTIONS AND/OR SEND IN THEIR RESPECTIVE APPROVALS. THE TREASURER, CFO AND AUDIT COMMITTEE WILL ACCEPT AND RESPOND TO ANY QUESTIONS RAISED BY BOARD MEMBERS. AS PART OF THE SUBMITTED FORM 990 PRESENTATION TO THE BOARD, THE AUDIT AND FINANCE COMMITTEES WILL ALSO, BASED ON THEIR REVIEW OF THE FORM, MAKE NECESSARY RECOMMENDATIONS TO THE BOARD REGARDING GOVERNANCE, POLICIES, DISCLOSURE, ETC. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND EXECUTIVE STAFF (CEO, CFO, COO, CPMO AND VICE PRESIDENTS) ARE REQUIRED, ON AN ANNUAL BASIS TO: (1) READ THE CONFLICT OF INTEREST AND CONFIDENTIALITY POLICY, (2) SIGN OFF ON ACKNOWLEDGMENT THAT POLICY HAS BEEN READ AND RECEIVED AND (3) COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. THE CFO REVIEWS THE COMPLETED ANNUAL CONFLICT OF INTEREST DISCLOSURE FORMS. ANY CONCERNS ON CONFLICTS ARE RAISED TO THE CEO, VP OF DEVELOPMENT (STAFF LIAISON TO THE BOARD GOVERNANCE COMMITTEE) AND THE BOARD GOVERNANCE COMMITTEE AS APPLICABLE. IF ANY BOARD MEMBER OR EXECUTIVE STAFF DOES NOT COMPLETE THE RELATED ANNUAL FORMS, THE VP OF DEVELOPMENT WILL ADDRESS ACCORDINGLY. IF THERE ARE ANY QUESTIONS ON CONFLICT, THE RELATED BOARD MEMBER OR KEY EXECUTIVE STAFF MEMBER IS REQUIRED TO DISCLOSE AND REMOVE HIMSELF OR HERSELF FROM VOTING ON A PARTICULAR MATTER, DECLINE IN PARTICIPATION IN A CONFLICTING BID FOR RELATED BUSINESS WITH THE ORGANIZATION OR NOT APPLY FOR EMPLOYMENT AS A STAFF POSITION IF IT IS DETERMINED THERE IS AN ACTUAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE FOUNDATION HAS 1 FULL TIME EMPLOYEE WHO IS PAID BY THE TAMPA BAY PERFORMING ARTS CENTER INC DBA DAVID A STRAZ JR CENTER FOR THE PERFORMING ARTS. THE EXPENSE IS THEN CHARGED BACK TO THE TBPAC FOUNDATION INC THROUGH INTERCOMPANY CHARGE. OTHER KEY PERSONNEL IN SUPPORT OF THE FOUNDATION ARE CENTER EMPLOYEES AND ARE SUBJECT TO COMPENSATION, CLASSIFICATION AND ALL OTHER PERSONNEL POLICIES OF THE CENTER. THE CENTER PERIODICALLY REVIEWS ITS CLASSIFICATION AND COMPENSATION STRUCTURE TO ENSURE REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AND ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 110,012. TOTAL EXPENSES 110,012. CENTER ADMIN FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 312,792. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 312,792. OTHER FEES FOR SERVICE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 7,203. TOTAL EXPENSES 7,203. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTEREST -24,129. TAMPA BAY PERFORMING ARTS CENTER INC 1010 NORTH WC MACINNES PLACE TAMPA FL 33602 592037085 PERFORMING ARTS FL 501 (C)(3) 7 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0