2020-07-14T11:50:59-05:00 2019-08-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2018-09-01 410693875 MINNESOTA ORCHESTRAL ASSOCIATION MINN 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 IVAN WINSHIP VP OF FINANCE AND ADMIN 6123715600 2020-07-14 1 SARAH REICHLING P01587996 6123764500 2020-07-14 67.137.57.251 2020-07-14 08:48:58 CD P F40EF91B43A03FD1C882785D0956003FD1A535BB 93298A0EF1A35199A347C3D1A51B650AE90AA4ED 2018 2021-01-29 14:40:06Z MICHELLE MILLER BURNS 1111 NICOLLET MALL MINNEAPOLIS MN 55403 47398128 0 X WWW.MINNESOTAORCHESTRA.ORG X 1907 MN AN INTERNATIONALLY-RECOGNIZED ORCHESTRA DEDICATED TO ENRICHING AND SERVING MINNESOTA COMMUNITY. 61 60 828 716 853489 0 19956070 34396080 11008021 8885919 1693067 3242465 273135 216142 32930293 46740606 0 0 0 0 25168459 24047531 183741 186853 1462340 14161464 12433656 39513664 36668040 -6583371 10072566 197801525 196338719 20124719 19823834 177676806 176514885 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 32416511 0 8885919 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, THE ORCHESTRA PRESENTS NEARLY 175 CONCERTS ANNUALLY THAT ARE HEARD LIVE BY SOME 300,000 INDIVIDUALS. IN FISCAL 2019, RESIDENTS FROM EVERY ONE OF MINNESOTA'S 87 COUNTIES ATTENDED A PERFORMANCE AT ORCHESTRA HALL. THE ORCHESTRA'S FRIDAY NIGHT CONCERTS ARE ADDITIONALLY BROADCAST LIVE ACROSS THE STATE BY MINNESOTA PUBLIC RADIO AND MANY CONCERTS ARE SUBSEQUENTLY HEARD NATIONWIDE ON AMERICAN PUBLIC MEDIA PROGRAMS, REACHING 2,000,000 LISTENERS.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. DESIGNED TO INTRODUCE CLASSICAL MUSIC TO STUDENTS, YOUNG PEOPLE'S CONCERTS REACHED MORE THAN 35,000 STUDENTS FROM 292 SCHOOLS THROUGHOUT MINNESOTA, WISCONSIN AND IOWA IN F2019-AND HAVE HELPED TO LIGHT A SPARK FOR CLASSICAL MUSIC WITH GENERATIONS OF STUDENTS SINCE THE SERIES WAS LAUNCHED MORE THAN 100 YEARS AGO. THROUGH ITS STATE-WIDE COMMON CHORDS PROGRAM, THE ORCHESTRA CREATES ONGOING PARTNERSHIPS WITH GREATER MINNESOTA CITIES THAT CULMINATE IN A CELEBRATORY RESIDENCY FEATURING DOZENS OF PERFORMANCES AND ACTIVITIES THAT REFLECT THE INTERESTS, DIVERSITY AND HERITAGE OF EACH COMMUNITY. IN 2019, NORTH MINNEAPOLIS RESIDENTS PARTICIPATED IN DOZENS OF MINNESOTA ORCHESTRA CONCERT EVENTS AT SCHOOLS, SENIOR COMMUNITIES, CHURCHES AND OTHER COMMUNITY VENUES. PREVIOUS COMMON CHORDS PARTNER CITIES HAVE INCLUDED MANKATO, BEMIDJI, DETROIT LAKES, GRAND RAPIDS, AND WILLMAR. IN ITS INTERNATIONAL TOURING, THE ORCHESTRA SHARES THE NAME OF ITS STATE WITH BROAD WORLD-WIDE AUDIENCES, IN FY2018 PERFORMING AT LONDON'S PRESTIGIOUS BBC PROMS FESTIVAL AND IN A FIVE-CITY TOUR OF SOUTH AFRICA. WHETHER PERFORMING AT ORCHESTRA HALL, IN GREATER MINNESOTA OR ON AN INTERNATIONAL STAGE, THE MINNESOTA ORCHESTRA REMAINS COMMITTED TO BRINGING PEOPLE TOGETHER THROUGH MUSIC. 32416511 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 174 0 828 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 61 60 1 0 0 0 0 1 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 MICHELLE MILLER BURNS PRESIDENT & CEO 40.00 X X 144271 0 5541 KEVIN SMITH PRESIDENT & CEO (LEFT DEC-18) 40.00 X X 265083 0 21094 MARGARET BRACKEN CHAIR 1.00 X X 0 0 0 WILLIAM P MILLER VICE CHAIR 1.00 X X 0 0 0 ANNE W MILLER VICE CHAIR 1.00 X X 0 0 0 JAY V IHLENFELD TREASURER 1.00 X X 0 0 0 H YVONNE CHEEK PHD SECRETARY 1.00 X X 0 0 0 MRS MARGARET D ANKENY DIRECTOR 1.00 X 0 0 0 KAREN H ASHE MD PHD DIRECTOR 1.00 X 0 0 0 DOUGLAS M BAKER JR DIRECTOR 1.00 X 0 0 0 KAREN H BAKER DIRECTOR 1.00 X 0 0 0 MAUREEN BAUSCH DIRECTOR 1.00 X 0 0 0 DONALD E BENSON DIRECTOR (LEFT DEC-18) 1.00 X 0 0 0 ROCHELLE A BLEASE DIRECTOR 1.00 X 0 0 0 SARAH BREW DIRECTOR 1.00 X 0 0 0 BARBARA BURWELL DIRECTOR 1.00 X 0 0 0 E TIM CARL DIRECTOR 1.00 X 0 0 0 MARI A CARLSON DIRECTOR 1.00 X 0 0 0 EVAN CARRUTHERS DIRECTOR 1.00 X 0 0 0 Y RALPH CHU MD DIRECTOR 1.00 X 0 0 0 MARK D COPMAN DIRECTOR 1.00 X 0 0 0 KATHY CUNNINGHAM DIRECTOR 1.00 X 0 0 0 ANDREW CZAJKOWSKI DIRECTOR 1.00 X 0 0 0 PAULA W DECOSSE DIRECTOR 1.00 X 0 0 0 JONATHAN EISENBERG DIRECTOR 1.00 X 0 0 0 JACK W EUGSTER DIRECTOR 1.00 X 0 0 0 JOHN F FARRELL JR DIRECTOR 1.00 X 0 0 0 W ANDERS FOLK DIRECTOR 1.00 X 0 0 0 ELISABETH FROST DIRECTOR 1.00 X 0 0 0 TIMOTHY GEOFFRION DIRECTOR 1.00 X 0 0 0 PAUL D GRANGAARD DIRECTOR (LEFT DEC-18) 1.00 X 0 0 0 JOSEPH T GREEN DIRECTOR 1.00 X 0 0 0 LAURIE H GREENO DIRECTOR 1.00 X 0 0 0 JANE GREGERSON DIRECTOR 1.00 X 0 0 0 LUELLA G GOLDBERG DIRECTOR 1.00 X 0 0 0 MARYANN GOLDSTEIN DIRECTOR (LEFT DEC-18) 1.00 X 0 0 0 BEVERLY N GROSSMAN DIRECTOR 1.00 X 0 0 0 KAREN HIMLE DIRECTOR 1.00 X 0 0 0 SHADRA J HOGAN DIRECTOR (LEFT DEC-18) 1.00 X 0 0 0 MAURICE HOLLOMAN DIRECTOR 1.00 X 0 0 0 KAREN LUNDMARK HOLMES DIRECTOR 1.00 X 0 0 0 KAREN H HUBBARD DIRECTOR 1.00 X 0 0 0 PHILIP O ISAACSON DIRECTOR 1.00 X 0 0 0 HUBERT JOLY DIRECTOR 1.00 X 0 0 0 KATHLEEN A JUNEK DIRECTOR 1.00 X 0 0 0 KATE KELLY DIRECTOR 1.00 X 0 0 0 LLOYD KEPPLE DIRECTOR (LEFT DEC-18) 1.00 X 0 0 0 MICHAEL KIM PHD DIRECTOR 1.00 X 0 0 0 MICHAEL J KLINGENSMITH DIRECTOR 1.00 X 0 0 0 MARY G LAWRENCE MD DIRECTOR 1.00 X 0 0 0 ALLEN U LENZMEIER DIRECTOR 1.00 X 0 0 0 NANCY E LINDAHL DIRECTOR 1.00 X 0 0 0 MICHAEL A LINDSAY DIRECTOR 1.00 X 0 0 0 MARTIN R LUECK DIRECTOR 1.00 X 0 0 0 RONALD E LUND DIRECTOR 1.00 X 0 0 0 WARREN E MACK DIRECTOR 1.00 X 0 0 0 HARVEY B MACKAY DIRECTOR 1.00 X 0 0 0 PATRICK G MAHONEY DIRECTOR 1.00 X 0 0 0 KITA MCVAY DIRECTOR 1.00 X 0 0 0 ELIZABETH B MYERS DIRECTOR 1.00 X 0 0 0 MARILYN CARLSON NELSON DIRECTOR 1.00 X 0 0 0 RAVI NORMAN DIRECTOR 1.00 X 0 0 0 MINSOK PAK DIRECTOR 1.00 X 0 0 0 ANITA M PAMPUSCH PHD DIRECTOR 1.00 X 0 0 0 LISA PARADIS DIRECTOR 1.00 X 0 0 0 MICHAEL M ROOS DIRECTOR 1.00 X 0 0 0 DIMITRIOS P SMYRNIOS DIRECTOR 1.00 X 0 0 0 ROBERT S SPONG DIRECTOR 1.00 X 0 0 0 GORDON M SPRENGER DIRECTOR 1.00 X 0 0 0 IRENE SUDDARD DIRECTOR 1.00 X 0 0 0 MARY S SUMNERS DIRECTOR 1.00 X 0 0 0 MAXINE H WALLIN DIRECTOR 1.00 X 0 0 0 JAMES WATKINS JR DIRECTOR 1.00 X 0 0 0 TIMOTHY A WELSH DIRECTOR 1.00 X 0 0 0 JOHN WILGERS DIRECTOR 1.00 X 0 0 0 AKS ZAHEER PHD DIRECTOR 1.00 X 0 0 0 IVAN WINSHIP VP OF FINANCE & ADMINISTRATION 40.00 X 0 0 0 MARCUS VALERIO DIRECTOR OF FINANCE (LEFT DEC-18) 40.00 X 141827 0 21213 DIANNE BRENNAN VP OF ADVANCEMENT (LEFT DEC-18) 40.00 X 173617 0 10581 OSMO VANSKA MUSIC DIRECTOR 40.00 X 1016891 0 19731 ERIN KEEFE MUSICIAN 40.00 X 271331 0 10914 ANTHONY ROSS MUSICIAN 40.00 X 175282 0 33210 JOHN SNOW MUSICIAN 40.00 X 180856 0 19539 ROBERT WRIGHT MUSICIAN 40.00 X 185460 0 34637 FEI XIE MUSICIAN 40.00 X 160714 0 40217 2715332 0 216677 10 0 1 0 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 52404 ADVERTISING 430178 CAMBRIDGE ASSOCIATES 125 HIGH STREET OLIVER TOWER BOSTON MA 02110 INVESTMENT MANAGER 250000 STREAMWORKS LLC 3640 PHEASANT RIDGE DR NE BLAINE MN 55449 MARKETING 218855 HILTON MINNEAPOLIS 1001 MARQUETTE AVENUE MINNEAPOLIS MN 55403 EVENT SPACE RENTAL 134203 BEEVENTS 2131 BROADWAY ST NE MINNEAPOLIS MN 55413 EVENT SUPPORT 129208 5 1264450 4256394 990606 27884630 1536674 34396080 ORCHESTRA TICKETS 711130 7073941 7073941 RENTALS 711130 896095 896095 CONCESSIONS & FEES 711130 765380 765380 ORCHESTRA SERVICE FEES 532000 150503 150503 8885919 733987 -46791 780778 10078 10078 2508478 0 2508478 2508478 4185 2504293 123145 1264450 408033 -284888 -284888 740441 249489 490952 490952 46740606 7989824 853489 3501213 2514366 1991045 496262 27059 16802666 15315249 674387 813030 830613 830613 2567878 2567878 1332008 1195177 75982 60849 85268 85268 34781 34781 56078 56078 186853 186853 9876 9876 886857 106010 687445 93402 1907398 1797491 109907 425429 212988 139279 73162 16023 1614 9849 4560 640557 526733 56912 56912 106928 90861 8678 7389 174582 138346 27357 8879 1774611 1623769 75421 75421 210735 48726 162009 DIRECT CONCERT EXPENSES 5802486 5802486 PROGRAM COSTS 60960 60960 MEMBERSHIPS AND SUBSCRI 60650 20110 39520 1020 EQUIPMENT 53326 3272 50054 0 127111 83183 43928 36668040 32416511 2789189 1462340 1772059 1615446 9618016 25155767 478036 368375 74265 95009 1195368 1143200 76080457 27092886 50315251 48987571 43446663 33705957 90371266 84736793 530601 530601 197801525 196338719 2417244 1799327 3659560 4317529 1690000 0 7500000 7000000 4857915 6706978 20124719 19823834 X -628031 -6289474 3236817 7736339 175068020 175068020 177676806 176514885 197801525 196338719 X 10072566 -2813303 -8421184 X 0 1 X 1 0 X 18362417 15699850 24286170 19956070 34396080 112700587 18362417 15699850 24286170 19956070 34396080 112700587 20611917 92088670 885892 761458 625957 698273 790856 3762436 116463023 47714299 0.79070 0.68340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 56078 56078 37076073 37132151 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 35492 49723 55056 56078 196349 250000 250000 250000 250000 1000000 1500000 SCHEDULE C, PART II-A TOTAL LOBBYING EXPENSES ARE RELATED TO DUES TO MINNESOTA CITIZENS FOR THE ARTS. 37625255 10025300 434060 10526631 37557984 34316627 5500000 1777436 3968808 37625255 34868311 400000 2563483 3515167 34316627 40787034 500000 1556254 7974977 34868311 58402305 121675 -1513421 16223525 40787034 0.00000 1.00000 0.00000 0 0 3006334 3006334 64699702 20340463 44359239 524521 378092 146429 7610731 6261726 1349005 239169 112605 126564 48987571 84736793 F 84736793 UNFUNDED PENSION LIABILITY 6560549 LEASEHOLD INCENTIVE LIABILITY 146429 6706978 X 38853156 -2813303 -5731669 -8544972 47398128 -657522 -657522 46740606 40015077 3347037 3347037 36668040 0 36668040 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 -147,196. CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION & TRUST -5,584,473. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -249,489. FUNDRAISING EXPENSES -408,033. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 249,489. CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS 2,689,515. FUNDRAISING EXPENSES 408,033. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 518171 0 0 0 0 0 0 518171 0 518171 0 0 0 0 0 0 PART I, LINE 3: ACCRUAL METHOD FOR MANAGEMENT FEES OF INVESTMENT. X X X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 55404 TELEPHONE CAMPAIGN 0 231465 186853 44612 231465 186853 44612 MN WI BALL 1387595 1264450 123145 135165 214033 30770 28065 1387595 1264450 123145 135165 214033 30770 28065 408033 -284888 X X X 1 1 0 0 0 0 0 0 0 0 0 KEVIN SMITH PRESIDENT & CEO (LEFT DEC-18) 256708 0 0 0 8375 0 10268 0 10826 0 286177 0 0 0 MARCUS VALERIO DIRECTOR OF FINANCE (LEFT DEC-18) 141288 0 0 0 539 0 0 0 21213 0 163040 0 0 0 DIANNE BRENNAN VP OF ADVANCEMENT (LEFT DEC-18) 170240 0 0 0 3377 0 4256 0 6325 0 184198 0 0 0 OSMO VANSKA MUSIC DIRECTOR 919685 0 0 0 97206 0 0 0 19731 0 1036622 0 0 0 ERIN KEEFE MUSICIAN 253543 0 0 0 17788 0 8061 0 2853 0 282245 0 0 0 ANTHONY ROSS MUSICIAN 173475 0 0 0 1807 0 8434 0 24776 0 208492 0 0 0 JOHN SNOW MUSICIAN 180856 0 0 0 0 0 7830 0 11709 0 200395 0 0 0 ROBERT WRIGHT MUSICIAN 182436 0 0 0 3024 0 8061 0 26576 0 220097 0 0 0 FEI XIE MUSICIAN 160714 0 0 0 0 0 8061 0 32156 0 200931 0 0 0 PART I, LINE 1A FIRST-CLASS OR CHARTER TRAVEL - OSMO VANSKA - NOT INCLUDED IN TAXABLE COMPENSATION. HOUSING ALLOWANCE - OSMO VANSKA - INCLUDED IN TAXABLE COMPENSATION. BUSINESS CLUB DUES - KEVIN SMITH - MINNEAPOLIS CLUB - NOT INCLUDED IN TAXABLE COMPENSATION AND UTILIZED FOR BUSINESS PURPOSES AND MEETINGS. A MINNEAPOLIS COMMUNITY DEVELOPMENT AGENCY 416009115 2004-05-15 1690000 REFINANCING DEBT TO REFURBISH ORCHESTRA HALL 0 0 0 A 1690000 1690000 1997 0 1 1 1 A 0 0 0 0 0 0 1 A 0 0 1 0 1 0 0 0 0 A 0 X 51 1447004 TRADING PRICE X AUCTION ITEMS 80 89678 FMV 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS 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 A, LINE 7A THE GOVERNANCE AND NOMINATING COMMITTEE WILL SUBMIT THE PROPOSED SLATE OF REGULAR DIRECTORS, LIFE DIRECTORS, AND MEMBERS OF THE EXECUTIVE COMMITTEE FOR ELECTION AT THE ANNUAL MEETING OF THE BOARD OF DIRECTORS. CANDIDATES MAY ONLY BE ELECTED TO THE BOARD OF DIRECTORS VIA UNANIMOUS VOTE OF THE FULL BOARD. 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 2019. 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 VALUE OF SPLIT INTEREST AGREEMENTS -147,196. CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION & TRUST -5,584,473. CHANGE IN ACTUARIAL VALUATION OF PENSION PLANS -2,689,515. 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 1317262 FAIR MARKET VALUE THE OAKLEAF ENDOWMENT TRUST FOR THE MINNESOTA ORCHESTRA (BUILDING FOR THE F C 2939132 FAIR MARKET VALUE