2020-07-14T08:19:59-05:00 2019-08-31 EISNERAMPER LLP 750 THIRD AVENUE NEW YORK NY 100172703 990 2018-09-01 131664054 The Philharmonic Symphony Society of NY Inc % ASHLEY PENA PHIL 2128755000 10 LINCOLN CENTER PLAZA NEW YORK NY 100236973 ADAM COX COO 2128755727 2020-05-18 true WILLIAM EPSTEIN P01307171 2129498700 64.238.150.4 26505220201965000156 2020-07-14 P 45E03A01E385EA2FD4321D9DC7B70482997C2D58 BBC7C71728004A076094FDAADEF29CE4D286C3B2 2018 2020-09-23 17:36:50Z DEBORAH BORDA 10 LINCOLN CENTER PLAZA NEW YORK NY 100236973 198297123 false X WWW.NYPHIL.ORG X 1853 NY TO MAINTAIN AND FOSTER AN INTEREST IN THE ENJOYMENT OF MUSIC AND MUSICAL AFFAIRS, TO INCULCATE IN ITS MEMBERS IN NEW YORK CITY AND THE WORLD at large an interest in symphonic music. 51 50 750 158 0 0 44148666 50949966 26784955 25735899 19694858 10480221 -1131589 -796204 89496890 86369882 0 0 0 0 51962801 45738487 260981 189692 6073563 25374068 34000291 77597850 79928470 11899040 6441412 322040596 326688456 59035325 80094940 263005271 246593516 X TO MAINTAIN AND FOSTER AN INTEREST IN THE ENJOYMENT OF MUSIC AND MUSICAL AFFAIRS, TO INCULCATE IN ITS MEMBERS IN THE COMMUNITY OF NEW YORK CITY AND THE WORLD AT LARGE AN INTEREST IN SYMPHONIC MUSIC, AND IN ORDER TO FOSTER SUCH INTEREST AND THE APPRECIATION OF MUSIC, AMONG OTHER THINGS, TO CAUSE THE PERFORMANCE OF SYMPHONIC AND OTHER MUSICAL PERFORMANCES IN THE CONCERT AND OTHER HALLS, AND BY AUDIO AND VISUAL RECORDINGS AND LIVE PERFORMANCES BROADCAST OVER THE RADIO, TELEVISION AND THE WORLD WIDE WEB. false false 51626235 25110676 DURING THE 2018/2019 SEASON 104 REGULAR SUBSCRIPTION CONCERTS WERE PERFORMED FOR THE LISTENING AUDIENCE OF 246,811. THE NEW YORK PHILHARMONIC CONCERT PERFORMANCES MAINTAIN AND FOSTER AN INTEREST IN SYMPHONIC MUSIC FOR INDIVIDUALS OF DIVERGING CULTURES AND BACKGROUNDS. THE NEW YORK PHILHARMONIC SPONSORS A NUMBER OF EDUCATIONAL PROGRAMS FOR CHILDREN AND ADULTS. SOME OF THESE PROGRAMS ARE AS FOLLOWS: (1) TEACHERS SEMINARS ARE OPEN TO BOTH MUSIC AND NON-MUSIC TEACHERS. THESE PROFESSIONAL DEVELOPMENT SEMINARS EXPLORE BASIC PRINCIPLES OF MUSIC, AND THE REPERTOIRE OF THE NEW YORK PHILHARMONIC. EACH SEMINAR IS TAUGHT BY A FACULTY MEMBER OF THE PHILHARMONIC'S EDUCATION DEPARTMENT AND IS FOLLOWED BY AN EVENING CONCERT BY THE NEW YORK PHILHARMONIC. (2) THE NEW YORK PHILHARMONIC SUPPORTS A PARTNERSHIP PROGRAM WITH A NUMBER OF NEW YORK CITY PUBLIC SCHOOLS. THE GOALS OF THE PROGRAM ARE (A) TO BUILD A FUNDAMENTAL KNOWLEDGE OF MUSIC, OF A SYMPHONY ORCHESTRA AND ITS REPERTOIRE AMONG TEACHERS, STUDENTS AND PARENTS; (B) TO DEVELOP AN ONGOING MULTI-YEAR RELATIONSHIP WITH A BODY OF SCHOOLS IN NEW YORK CITY; AND (C) TO SET A STANDARD OF EXCELLENCE WHICH DEFINES A COMMUNITY. THE PROGRAM INVOLVES PROFESSIONAL DEVELOPMENT FOR TEACHERS, WORKSHOP FOR PARENTS, AND ONGOING IN-SCHOOL SESSIONS FOR STUDENTS SHARED BY THEIR TEACHERS AND TEACHING ARTISTS FROM THE NEW YORK PHILHARMONIC. (3) OPEN REHEARSALS. SCHOOL GROUPS AND THE GENERAL PUBLIC ARE INVITED ON SELECTED MORNINGS TO WATCH THE FASCINATING PROCESS OF A NEW YORK PHILHARMONIC REHEARSAL. (4) YOUNG PEOPLES CONCERTS ARE FORMED TO INTRODUCE YOUNG LISTENERS TO SOME OF THE GREAT MASTERWORKS OF ORCHESTRA, AND SOME OF THE WORLD'S GREAT MUSICIANS. WRITTEN MATERIALS ARE DISTRIBUTED TO THE CHILDREN AT THE CONCERTS. BEFORE EACH YOUNG PEOPLES CONCERT, FAMILIES CAN ENJOY CHILDREN'S PROMENADES, FEATURING A COLORFUL HOUR OF EXCITING DEMONSTRATIONS, MUSIC-MAKING ACTIVITIES AND A CHANCE FOR CHILDREN TO MEET MEMBERS OF THE ORCHESTRA. FOUR CONCERTS ARE PERFORMED PER SEASON. THIS SEASON PERFORMANCE WAS 10,167 INDIVIDUALS. IN 2005-06 THE ORCHESTRA INTRODUCED VERY YOUNG PEOPLE'S CONCERTS FOR PRESCHOOLERS. NINE CONCERTS REACHED AN AUDIENCE OF 3,507 PEOPLE DURING THE 2018-19 SEASON. "LIVE FROM LINCOLN CENTER" TELEVISION PERFORMANCES. ONE CONCERT WAS NATIONALLY TELEVISED TO BRING ORCHESTRA INTO OUR HOMES. THE NEW YORK PHILHARMONIC PERIODICALLY MAKES RECORDINGS OF ITS PERFORMANCE FOR INTERNATIONAL SALES AND BROADCASTS ITS PERFORMANCES OVER THE RADIO NATIONALLY AND INTERNATIONALLY. THESE RECORDINGS BRINGS CLASSICAL MUSIC TO PEOPLE ALL OVER THE WORLD AND FOSTER THEIR APPRECIATION OF SYMPHONIC MUSIC AND REPERTOIRE. EACH SEASON THE NEW YORK PHILHARMONIC ORCHESTRA GOES ON TOUR INSIDE AND OUTSIDE THE UNITED STATES. THE TOUR HELPS TO FOSTER THE GLOBAL REPUTATION OF THE NEW YORK PHILHARMONIC BY BRINGING CLASSICAL MUSIC TO A BROADER AUDIENCE AND DIFFERENT CULTURES. ELEVEN TOUR CONCERTS WERE ENJOYED BY AN AUDIENCE OF OVER 22,915 PEOPLE. 3260859 625223 ATTACHMENT 2 54887094 true true false false false false false true false true true true false false true true true false false false true false false true true false false false false true false false false false false false false true true false false false false false false false false true 276 0 750 true false false false false false true true false false false false false false X 51 50 false false false false false false false true true false false false true true true true true true true false CA CT FL GA IL KY LA MD MA MI NH NJ NM NY NC OH OK OR PA RI SC TN VA WV WI X X ASHLEY PENA 2128755000 10 LINCOLN CENTER PLAZA NEW YORK NY 100236973 OSCAR S SCHAFER CHAIRMAN 4.0 0.0 X X 0 0 0 PETER W MAY VICE CHAIRMAN 4.0 0.0 X X 0 0 0 DAISY M SOROS SECRETARY 4.0 0.0 X X 0 0 0 LAURA CHANG TREASURER 4.0 0.0 X X 0 0 0 LAWRENCE D ACKMAN DIRECTOR 4.0 0.0 X 0 0 0 ALEC BALDWIN DIRECTOR 4.0 0.0 X 0 0 0 DR KATHRYN BEAL DIRECTOR 4.0 0.0 X 0 0 0 JOSHUA BELL DIRECTOR 4.0 0.0 X 0 0 0 YEFIM BRONFMAN DIRECTOR 4.0 0.0 X 0 0 0 ANGELA CHEN DIRECTOR 4.0 0.0 X 0 0 0 ARTHUR CHU DIRECTOR 4.0 0.0 X 0 0 0 TOOS N DARUVALA DIRECTOR 4.0 0.0 X 0 0 0 LODEWIJK JR DE VINK DIRECTOR 4.0 0.0 X 0 0 0 MISOOK DOOLITTLE DIRECTOR 4.0 0.0 X 0 0 0 SARAH JANE GIBBONS DIRECTOR 4.0 0.0 X 0 0 0 PETER GROSS DIRECTOR 4.0 0.0 X 0 0 0 PAUL B GUENTHER DIRECTOR 4.0 0.0 X 0 0 0 GURNEE F HART DIRECTOR 4.0 0.0 X 0 0 0 ROBERT S HEKEMIAN JR DIRECTOR 4.0 0.0 X 0 0 0 SHARON HITE DIRECTOR 4.0 0.0 X 0 0 0 ANN JOHNSON DIRECTOR 4.0 0.0 X 0 0 0 PETER JUNGEN DIRECTOR 4.0 0.0 X 0 0 0 CHRISTOPHER KELLEN DIRECTOR 4.0 0.0 X 0 0 0 ALEXANDER KLABIN DIRECTOR 4.0 0.0 X 0 0 0 J CHRISTOPHER KOJIMA DIRECTOR 4.0 0.0 X 0 0 0 HONEY M KURTZ DIRECTOR 4.0 0.0 X 0 0 0 CHRISTIAN A LANGE DIRECTOR 4.0 0.0 X 0 0 0 KAREN T LEFRAK DIRECTOR 4.0 0.0 X 0 0 0 ROSS MCKNIGHT DIRECTOR 4.0 0.0 X 0 0 0 CHRISTIAN MEISSNER DIRECTOR (THRU 8/2019) 4.0 0.0 X 0 0 0 HAROLD MITCHELL AC DIRECTOR 4.0 0.0 X 0 0 0 JAMES NEDERLANDER DIRECTOR 4.0 0.0 X 0 0 0 ELIZABETH A NEWMAN DIRECTOR 4.0 0.0 X 0 0 0 CHARLES F NIEMETH DIRECTOR 4.0 0.0 X 0 0 0 GARY W PARR DIRECTOR 4.0 0.0 X 0 0 0 ITZHAK PERLMAN DIRECTOR 4.0 0.0 X 0 0 0 JOEL I PICKET DIRECTOR 4.0 0.0 X 0 0 0 SUSAN ROSE DIRECTOR 4.0 0.0 X 0 0 0 DEDE ROTHENBERG DIRECTOR 4.0 0.0 X 0 0 0 CAROL D SCHAEFER DIRECTOR 4.0 0.0 X 0 0 0 SHIRLEY BACOT SHAMEL DIRECTOR 4.0 0.0 X 0 0 0 LARRY A SILVERSTEIN DIRECTOR 4.0 0.0 X 0 0 0 LAURA J SLOATE DIRECTOR 4.0 0.0 X 0 0 0 OSCAR L TANG DIRECTOR 4.0 0.0 X 0 0 0 SYLVIA TOTH DIRECTOR 4.0 0.0 X 0 0 0 DANIIL TRIFONOV DIRECTOR 4.0 0.0 X 0 0 0 MAGGIE UENG TSAI DIRECTOR 4.0 0.0 X 0 0 0 BOBBY TUDOR DIRECTOR 4.0 0.0 X 0 0 0 RONALD J ULRICH DIRECTOR 4.0 0.0 X 0 0 0 DARIA L WALLACH DIRECTOR 4.0 0.0 X 0 0 0 MARY J WALLACH DIRECTOR 4.0 0.0 X 0 0 0 SANDRA F WARSHAWSKY DIRECTOR 4.0 0.0 X 0 0 0 KATSURAO YOSHIMORI DIRECTOR 4.0 0.0 X 0 0 0 SHIRLEY YOUNG DIRECTOR 4.0 0.0 X 0 0 0 DEBORAH BORDA PRESIDENT & CEO 40.0 0.0 X 1431771 0 23823 WILLIAM R THOMAS EXECUTIVE DIRECTOR 40.0 0.0 X 435385 0 48509 ADAM COX CHIEF OPERATING OFFICER 40.0 0.0 X 0 0 0 JAAP VAN ZWEDEN MUSIC DIRECTOR DESIGNATE 40.0 0.0 X 816375 0 0 FRANK HUANG CONCERT MASTER 40.0 0.0 X 576901 0 52837 CARTER BREY MUSICIAN 40.0 0.0 X 388303 0 40875 CHRISTOPHER MARTIN MUSICIAN 40.0 0.0 X 390078 0 55130 ROBERT LANGEVIN PRINCIPAL FLUTE 40.0 0.0 X 354047 0 29327 ANTHONY McGILL PRINCIPAL CLARINET 40.0 0.0 X 358239 0 51317 4751099 0 301818 136 false true false Proskauer Rose LLP 11 TIMES SQUARE NEW YORK NY 10036 LEGAL 307118 SDA TELESERVICES INC 5757 WEST CENTURY BLVD SUITE 300 LOS ANGELES CA 90045 TELEMARKETING SERV. 436715 SITUATION INTERACTIVE 469 7TH AVENUE SUITE 1300 NEW YORK NY 10018 MARKETING 384296 BRACEWELL LLP PO BOX 207486 DALLAS TX 75320 LEGAL 366573 OPUS 3 ARTISTS LLC 470 PARK AVENUE SOUTH NEW YORK NY 10016 Artist Mng. Agency 343076 49 582248 5481387 248030 44638301 6047552 50949966 CONCERT RECEIPTS 711130 24813805 24813805 RECORDING AND BROADCASTING 711130 296871 296871 EDUCATIONAL PROGRAMS 711130 625223 625223 25735899 2696827 2696827 0 69303 69303 0 0 0 115090628 3312000 110360234 259000 4730394 3053000 7783394 7783394 442500 5481387 1308007 -865507 -865507 0 0 0 0 0 0 0 86369882 25735899 9684017 0 0 0 0 2965668 800000 2165668 0 32099869 22603756 6924519 2571594 4142079 2991323 901988 248768 4358758 2803500 1223567 331691 2172113 1369311 629418 173384 47965 47965 1927188 1927188 95961 95961 0 189692 189692 770463 770463 268417 263221 5196 4744033 4138158 512323 93552 5558229 2272484 1174346 2111399 748604 746572 2032 8011 8011 605209 592939 12270 2160853 1711386 226158 223309 0 26306 26306 16267 16267 0 956818 662292 221206 73320 231513 40141 191372 PRODUCTION 6266990 6164813 102177 CONCERT HALL RENTAL 2911670 2911670 MISCELLANEOUS 194149 194149 PERFORMING ARTISTS 6461645 6370295 53994 37356 79928470 54887094 18967813 6073563 5304491 1008775 19998140 20746016 67815998 59591645 194734 574633 0 0 0 0 309168 86231 0 0 2165160 2301603 61590187 20504839 31891395 41085348 103181436 113090626 91180074 88203579 0 0 0 0 0 0 322040596 326688456 5557335 6535603 0 0 16775580 19429421 0 0 0 0 0 0 0 0 0 0 36702410 54129916 59035325 80094940 X -22632712 -35082594 116500441 112152258 169137542 169523852 263005271 246593516 322040596 326688456 X 6441412 -4620940 -18232227 X false true X true false X 63937043 78335791 58661052 44148666 50949962 296032514 0 0 63937043 78335791 58661052 44148666 50949962 296032514 68081690 227950824 3000853 2942253 2882088 3252065 2766130 14843389 0 0 310875903 134569997 0.73325 0.75754 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X false 217915825 769747 1439068 11029543 209095097 213915569 3105413 13893601 12998758 217915825 216042034 5868636 18693912 26689013 213915569 200836387 25494501 5312143 15600997 216042034 205826529 20796099 -7381133 18405108 200836387 0.03570 0.81080 0.15350 false false 35429255 9508154 25921101 26160932 10996685 15164247 41085348 ALTERNATIVE INVESTMENTS 78203579 F RESIDENCE SUBJECT TO LIFE INT 10000000 F 88203579 0 ACCRUED PENSION LIABILITY 47270592 ACCRUED POSTRETIREMENT BENEFIT 6157874 ANNUITIES PAYABLE 701450 54129916 X 81133535 -4620940 155056 -4465884 85599419 770463 770463 86369882 79313063 155056 155056 79158007 770463 770463 79928470 Schedule D Part III, Line 1A Archival collection: The Society maintains a collection of historic and culturally significant musical documents. In accordance with the collection policies commonly followed by museums, the cost or value of these collection items is not included in the statement of financial position. Each item is catalogued, preserved, and cared for,and activities verifying their existence and assessing their condition are performed continuously. Items purchased for the collection are recorded as expenses in the year in which the items are purchased. Proceeds from deaccessions are classified as unrestricted, except when donor restrictions apply. SCHEDULE D PART III LINE 4 DESCRIPTION OF COLLECTIONS: THE SOCIETY'S COLLECTIONS CONSIST OF ORIGINAL SCORES OF MUSIC AND OTHER HISTORIC PHOTOGRAPHS. SCHEDULE D PART V LINE 4 USE OF THE SOCIETY'S ENDOWMENT: THE SOCIETY'S ENDOWMENT CONSISTS OF BOTH DONOR RESTRICTED AND BOARD DESIGNATED FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING, BUT NOT LIMITED TO, INSTRUMENT CHAIRS, EDUCATION, AND GUEST SOLOISTS AND CONDUCTORS. SCHEDULE D PART X, LINE 2 DISCLOSURE OF LIABILITY FOR UNCERTAIN TAX POSITIONS: The Society is subject to the provisions of the Financial Accounting Standards Board's (The "FASB") accounting standards codification ("ASC") Topic 740, income taxes, as it relates to accounting and reporting for uncertainty in income taxes. due to the society's general not-for-profit status, asc topic 740 has not had, and is not anticipated to have, a material impact on the Society's financial statements. Central America and the Caribbean Investments 36670599 Europe (Including Iceland and Greenland) Investments 13892054 East Asia and the Pacific Program Services touring 582205 51144858 51144858 false false false false false false Form 990, Schedule F, Part I, Line 3 Column F The investments and expenditures listed on Schedule F, Part I, are reported at fair value and on the accrual basis of accounting, respectively, in accordance with U.S. Gaap. Form 990, Schedule F, Part IV, Lines 4 and 5 Foreign Investment Filings: The Society maintains investments in foreign partnerships and passive foreign investment companies. All required filings, if any, are completed appropriately and timely filed on behalf of the Society by the respective fund manager. X X X X X X X true SDA TELESERVICES INC 5757 WEST CENTURY BLVD SUITE 300 LOS ANGELES CA 90045 TELEPHONE FUNDRAISER false 311147 199796 111351 311147 199796 111351 CA CO CT DC FL GA IL KY LA ME MD MA MI NV NH NJ NM NY NC OH OK OR PA RI SC TN VA WA WV WI OPENING NIGHT 3071760 2877860 193900 438066 SPRING GALA 1054700 954600 100100 180953 4 1797427 1648927 148500 688988 5923887 5481387 442500 1308007 1308007 -865507 X true true X X X X X false false false false false false false true false DEBORAH BORDA PRESIDENT & CEO 981771 450000 0 13750 10073 1455594 0 WILLIAM R THOMAS EXECUTIVE DIRECTOR 435385 0 0 44000 4509 483894 0 JAAP VAN ZWEDEN MUSIC DIRECTOR DESIGNATE 816375 0 0 0 0 0 0 0 0 0 816375 0 0 0 FRANK HUANG CONCERT MASTER 526901 50000 0 11962 40875 629738 0 CARTER BREY MUSICIAN 388303 0 0 40875 429178 0 CHRISTOPHER MARTIN MUSICIAN 382578 7500 0 14255 40875 445208 0 ROBERT LANGEVIN PRINCIPAL FLUTE 354047 0 0 1572 27755 383374 0 ANTHONY McGILL PRINCIPAL CLARINET 358239 10442 40875 409556 FORM 990, SCHEDULE J, PART I, LINE 1A First Class or Charter Travel: First class flights are provided in accordance with the provisions of contractual obligations. On occasion, when there is no commercial flight available to accommodate the touring schedule of the orchestra, a charter flight must be used instead. FORM 990, SCHEDULE J, PART I, LINE 3 COMPENSATION PRACTICES: THE BOARD OF DIRECTORS HAS AN EMPLOYMENT AGREEMENT WITH THE PRESIDENT OF THE SOCIETY THAT PROVIDES FOR ALL ASPECTS OF THE PRESIDENT'S COMPENSATION AND BENEFITS PACKAGE. THE PERSONNEL AND GOVERNANCE COMMITTEE AND THE EXECUTIVE COMMITTEE OF THE BOARD ANNUALLY REVIEW AND APPROVE ANY REVISION OF EMPLOYEE COMPENSATION. WHEN CONSIDERING THE COMPENSATION OF TOP MANAGEMENT, THE PERSONNEL AND GOVERNANCE COMMITTEE REVIEWS SALARY INFORMATION OF COMPARABLE NON-PROFIT ORGANIZATIONS, WHICH INCLUDE SPECIFIC DATA RELATING TO THE NEW YORK METROPOLITAN AREA. WHEN CONSIDERING COMPENSATION OF THE PRESIDENT, THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION PAID TO CEOS OF SPECIFIC NON-PROFIT ORGANIZATIONS DEEMED COMPARABLE TO THE SOCIETY IN RELATION TO SIMILAR MISSIONS, SCOPE AND SIZE. THE AMOUNT SHOWN ON SCHEDULE J, COLUMN C, "RETIREMENT AND OTHER DEFERRED COMPENSATION" REPRESENTS THE ANNUAL INCREASE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN ONLY. FORM 990, SCHEDULE J, PART I, LINE 7 AS REPORTED IN SCHEDULE J, PART II, COLUMN B (II), CERTAIN EMPLOYEES ARE ELIGIBLE FOR DISCRETIONARY BONUSES UPON MEETING CERTAIN CRITERIA. JOSHUA BELL DIRECTOR 100000 PERFORMING ARTIST false X 60 6047552 FAIR VALUE false true true SCHEDULE M, PART I, LINE 32A THE SOCIETY USES A THIRD PARTY SERVICE PROVIDER TO SELL ITS DONATED SECURITIES. FORM 990, PART VI, SECTION B, LINE 11B REVIEW PROCESS FOR FORM 990: THE SOCIETY'S FORM 990 IS PREPARED BY ITS INDEPENDENT ACCOUNTING FIRM WITH DATA PROVIDED BY ITS FINANCE DEPARTMENT. WHEN THE SOCIETY'S STAFF AND ACCOUNTING FIRM APPROVE THE DRAFT RETURN, IT IS THEN PROVIDED TO THE AUDIT COMMITTEE FOR REVIEW AND APPROVAL. THE SOCIETY'S BOARD OF DIRECTORS HAS DELEGATED RESPONSIBILITY FOR REVIEWING THE FORM 990 TO THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY: THE SOCIETY REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REQUIRING ALL OFFICERS,DIRECTORS, AND SENIOR STAFF TO REVIEW AND DISCLOSE POTENTIAL CONFLICTS ANNUALLY. RESPONSES ARE COMPILED AND REVIEWED ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15B COMPENSATION PRACTICES: THE BOARD OF DIRECTORS HAS AN EMPLOYMENT AGREEMENT WITH THE PRESIDENT OF THE SOCIETY THAT PROVIDES FOR ALL ASPECTS OF THE PRESIDENT'S COMPENSATION AND BENEFITS PACKAGE. THE PERSONNEL AND GOVERNANCE COMMITTEE AND THE EXECUTIVE COMMITTEE OF THE BOARD ANNUALLY REVIEW AND APPROVE ANY REVISION OF EMPLOYEE COMPENSATION. WHEN CONSIDERING THE COMPENSATION OF TOP MANAGEMENT, THE PERSONNEL AND GOVERNANCE COMMITTEE REVIEWS SALARY INFORMATION OF COMPARABLE NON-PROFIT ORGANIZATIONS, WHICH INCLUDE SPECIFIC DATA RELATING TO THE NEW YORK METROPOLITAN AREA. WHEN CONSIDERING COMPENSATION OF THE PRESIDENT, THE EXECUTIVE COMMITTEE REVIEWS COMPENSATION PAID TO CEOS OF SPECIFIC NON-PROFIT ORGANIZATIONS DEEMED COMPARABLE TO THE SOCIETY IN RELATION TO SIMILAR MISSIONS, SCOPE AND SIZE. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC INSPECTION: FINANCIAL STATEMENTS ARE POSTED ON THE SOCIETY'S WEBSITE. CONFLICT OF INTEREST POLICY AND CERTAIN GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 RECONCILIATION OF NET ASSETS(OTHER CHANGES IN NET ASSETS): PENSION & OTHER POSTRETIREMENT PLAN ADJUSTMENT (18,232,227) ------------ TOTAL ADJUSTMENT $ (18,232,227) ============ FORM 990, PART V, LINE 15 AND PART VII LINE 55 ALTHOUGH THIS EMPLOYEE RECEIVED COMPENSATION ON HER 2018 W-2 IN EXCESS OF $1,000,000, SHE DID NOT MEET THE CRITERIA UNDER SECTION 4960 DUE TO THE FACT THAT HER W-2 COMPENSATION EARNED DURING THE PERIOD 09/01/18 THROUGH 12/31/18 WAS $775,603. PER IRS NOTICE 2019-09 FOR FISCAL YEAR AUGUST 31,2019 TAX PAYERS, THE SECTION 4960 TAX RELATES TO THE 9/1/18 THROUGH 12/31/18 PORTION OF THE FISCAL YEAR.