2025-11-09T20:54:14-06:00 2024-12-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DR STE 1000 COSTA MESA CA 92626 990 2024-01-01 472018941 LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 LOSA 4243204500 1150 SOUTH OLIVE STREET 700 LOS ANGELES CA 90015 KAREN STURGES CFO 4243204500 2025-11-07 1 0 JOHN W SADOFF JR P00540589 7144367100 2024 2025-03-06 01:10:19Z X KAREN STURGES 1150 SOUTH OLIVE STREET 700 LOS ANGELES CA 90015 21426085 0 X HTTP://WWW.LA28.ORG X 2014 CA THE ORGANIZATION AIMS TO BENEFIT THE RESIDENTS OF THE UNITED STATES THROUGH THE PLANNING, PROMOTION AND STAGING OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES. 30 29 185 45 0 0 8000000 4000000 2021255 11461815 2318209 5829199 5210 135071 12344674 21426085 15293997 25383495 0 0 34741849 38119942 0 0 0 28334015 100243029 78369861 163746466 -66025187 -142320381 141706906 188861169 361392729 550867373 -219685823 -362006204 THE ORGANIZATION AIMS TO BENEFIT THE RESIDENTS OF THE UNITED STATES THROUGH THE PLANNING, PROMOTION AND STAGING OF THE XXXIV OLYMPIAD AND THE XVIII PARALYMPIC GAMES. 0 0 51499171 11596886 THE ORGANIZATION WORKS WITH THE CITY OF LOS ANGELES, THE UNITED STATES OLYMPIC & PARALYMPIC COMMITTEE ("USOPC") AND THE INTERNATIONAL OLYMPIC COMMITTEE ("IOC") TO HOST THE OLYMPIC AND PARALYMPIC GAMES IN LOS ANGELES AND THE SURROUNDING AREA. THE OLYMPIC AND PARALYMPIC GAMES WERE AWARDED TO THE CITY OF LOS ANGELES FOR 2028. AS PART OF ITS WORK, THE ORGANIZATION REACHES OUT TO THE COMMUNITY IN LOS ANGELES, INCLUDING FORMER OLYMPIANS AND PARALYMPIANS, TO GATHER SUPPORT AND RAISE FUNDS TO HOST THE 2028 OLYMPIC AND PARALYMPIC GAMES. 25383495 25383495 THE ORGANIZATION WILL FUND UP TO $160 MILLION IN YOUTH SPORTS IN THE CITY OF LOS ANGELES TO MAKE SPORTS MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELENOS LEADING UP TO THE GAMES IN 2028, BEGINNING THE LEGACY OF THE 2028 OLYMPIC AND PARALYMPIC GAMES. 76882666 1 1 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 78 0 185 1 0 0 0 0 0 0 0 0 0 0 1 0 X 30 29 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X KAREN STURGES 4243204500 1150 SOUTH OLIVE STREET STE 700 LOS ANGELES CA 90015 JANET B EVANS CHIEF ATHLETE OFFICER 40.00 0.00 X X 704441 0 33621 CASEY WASSERMAN CHAIRPERSON/PRESIDENT 0.50 0.50 X X 0 0 0 ALISON RESSLER DIRECTOR 0.10 0.00 X 0 0 0 ANDY CAMPION DIRECTOR 0.10 0.00 X 0 0 0 ANITA DE FRANTZ DIRECTOR 0.10 0.00 X 0 0 0 ANN PHILBIN DIRECTOR 0.10 0.00 X 0 0 0 BEATRIZ ACEVEDO DIRECTOR 0.10 0.00 X 0 0 0 DANA SMITH DIRECTOR 0.10 0.00 X 0 0 0 DAVID HAGGERTY DIRECTOR 0.10 0.00 X 0 0 0 ELAINE CHAO DIRECTOR 0.10 0.00 X 0 0 0 GENE SYKES DIRECTOR 0.10 0.10 X 0 0 0 JAMIE LEE DIRECTOR 0.10 0.00 X 0 0 0 JEANIE BUSS DIRECTOR 0.10 0.00 X 0 0 0 JEFFREY KATZENBERG DIRECTOR 0.10 0.00 X 0 0 0 JESSICA ALBA DIRECTOR 0.10 0.00 X 0 0 0 JOSE E FELICIANO DIRECTOR 0.10 0.00 X 0 0 0 KATIE LEDECKY DIRECTOR (END 12/31/24) 0.10 0.00 X 0 0 0 LEX GILLETTE DIRECTOR 0.10 0.00 X 0 0 0 MARC STERN DIRECTOR 0.10 0.00 X 0 0 0 MARK ATTANASIO DIRECTOR 0.10 0.00 X 0 0 0 MARK TATUM DIRECTOR 0.10 0.00 X 0 0 0 MATT JOHNSON DIRECTOR 0.10 0.00 X 0 0 0 MEGAN SMITH DIRECTOR 0.10 0.00 X 0 0 0 MELLODY HOBSON DIRECTOR 0.10 0.00 X 0 0 0 MICHAEL JOHNSON DIRECTOR 0.10 0.00 X 0 0 0 MUFFY DAVIS DIRECTOR 0.10 0.00 X 0 0 0 PETE RODRIGUEZ DIRECTOR 0.10 0.00 X 0 0 0 SARAH HIRSHLAND DIRECTOR 0.10 0.10 X 0 0 0 STUART WALDMAN DIRECTOR 0.10 0.00 X 0 0 0 YVONNE WHEELER DIRECTOR 0.10 0.00 X 0 0 0 JOHN SLUSHER CHIEF EXECUTIVE OFFICER (USOPP) 0.10 39.90 X 0 933769 1957 TANJA OLANO CHIEF LGL/PPL/COMP OFF (END 9/24) 20.00 20.00 X 876400 0 12832 KAREN STURGES CHIEF FINANCIAL OFFICER 20.00 20.00 X 741670 0 35117 JOHN M HARPER CHIEF OPERATING OFFICER 40.00 0.00 X 736634 0 33413 DANIEL KOBLIN CHIEF OPERATING OFFICER (USOPP) 0.10 39.90 X 0 725092 38015 DAVID MICHAEL CHIEF INFORMATION OFFICER 20.00 20.00 X 728881 0 23647 CHRISTOPHER PEPE CHF COMMERCIAL OFF(USOPP)(END 12/24) 0.10 39.90 X 0 690210 3974 AMY GLEESON CHIEF MARKETING OFFICER 40.00 0.00 X 632424 0 34331 MICHELLE SCHWARTZ CHF EXTERNAL AFFAIRS OFF (END 07/24) 40.00 0.00 X 593254 0 6439 ELISABETH FREINBERG CHIEF LEGAL OFFICER & SECRETARY 20.00 20.00 X 513943 0 38652 REYNOLD HOOVER CHIEF EXECUTIVE OFFICER (LA28) 39.90 0.10 X 481831 0 5548 AARON LOWENSTEIN VP, DEPUTY GENERAL COUNSEL 20.00 20.00 X 238168 0 22217 MAUREEN HARPER SVP, HUMAN RESOURCES (END 03/24) 20.00 20.00 X 139728 0 8567 KRISTINA GUILLEN SVP, HUMAN RESOURCES (END 09/24) 20.00 20.00 X 95289 0 4568 TAMI MAJER CHIEF PEOPLE OFFICER 20.00 20.00 X 62814 0 3588 ALLISON KATZ-MAYFIELD SVP, GAMES DELIVERY REVENUE 40.00 0.00 X 488313 0 16331 MICHAEL BUTKOVIC SVP, FINANCIAL PLANNING 40.00 0.00 X 441313 0 23357 RIC EDWARDS VP, EXECUTIVE DESIGN DIRECTOR 40.00 0.00 X 343421 0 38278 WES GAVINS HEAD OF CYBERSECURITY 40.00 0.00 X 356899 0 5571 PRISCILLA CHENG SVP, GOVERNMENT RELATIONS 40.00 0.00 X 343466 0 17244 KATHRYN CARTER FORMER CHIEF EXECUTIVE OFFICER 0.00 0.00 X 1950000 0 0 BRIAN LAFEMINA FORMER CHIEF BUSINESS OFFICER 0.00 0.00 X 1052531 0 0 PATRICIA FEAU VP, CITY RELATIONS & FRMR SECRETARY 40.00 0.00 X 316063 0 38150 ANNA SCHMITZ SR. MANAGER, RISK & FORMER SECRETARY 20.00 20.00 X 212900 0 28023 12050383 2349071 473440 105 1 1 0 DELOITTE CONSULTING LLP 4022 SELLS DRIVE HERMITAGE TN 37076 PROFESSIONAL SERVICES 23672296 SRJ ENTERTAINMENT LLC 7800 BEVERLY BLVD SUITE 234 LOS ANGELES CA 90036 PRODUCTION SERVICES 16597842 AECOM TECHNICAL SERVICES INC 300 S GRAND AVE 10TH FLOOR LOS ANGELES CA 90071 CONSTRUCTION SERVICES 5339856 DELOITTE & TOUCHE LLP 4022 SELLS DRIVE HERMITAGE TN 37076 PROFESSIONAL SERVICES 3953659 TWO CIRCLES INCORPORATED 30W 26TH STREET 3RD FLOOR NEW YORK NY 10010 PROFESSIONAL SERVICES 1416667 52 4000000 4000000 HOSPITALITY REVENUE 711300 11325414 11325414 SPONSORSHIP REVENUE 711300 136401 136401 11461815 5829199 5829199 SHARED SPACE COST RECO 900099 85500 85500 CAPTIVE REVENUE 900099 33960 33960 CREDIT CARD REBATES 900099 15611 15611 135071 21426085 11596886 0 5829199 25383495 25383495 6808016 2774557 4033459 3597668 1406744 2190924 24270905 13929066 10341839 1635214 866114 769100 1808139 1030090 778049 2140381 93086 2047295 390747 390747 457193 457193 14265711 6084593 8181118 19057788 18940829 116959 493932 151945 341987 51798798 119870 51678928 4344988 2113567 2231421 3056492 1341272 1715220 391327 18370 372957 1660412 1660412 RIGHTS PAYMENTS 2171875 2171875 LOSS ON CURRENCY REVALU 13385 13385 163746466 76882666 86863800 0 73349615 117026642 16716461 18207892 37795812 42280285 3603617 2355808 1639135 1247809 251000 12205883 9847541 141706906 188861169 6902689 21704359 280797540 431376368 73692500 97786646 361392729 550867373 X -219685823 -362006204 -219685823 -362006204 141706906 188861169 -142320381 0 X 0 1 X 1 0 X 6689328 13831117 8000000 4000000 32520445 6689328 13831117 8000000 4000000 32520445 14808194 17712251 149193 21262 574345 2318209 5829199 8892208 5210 135070 140280 41552933 13483070 0.42630 0.36930 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: CREDIT CARD REBATES - 2023 AMOUNT: $ 5,210. 2024 AMOUNT: $ 15,610. CAPTIVE REVENUE - 2024 AMOUNT: $ 33,960. SHARED SPACE COST RECOVERY - 2024 AMOUNT: $ 85,500. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 475193 0 0 475193 0 PART II-B, LINE 1B DURING THE FISCAL PERIOD ENDED DECEMBER 31, 2024, TO ACCOMMODATE LOS ANGELES HOSTING THE GAMES IN 2028, LOS ANGELES ORGANIZING COMMITTEE FOR THE OLYMPIC AND PARALYMPIC GAMES 2028 ("LA28") RELIED ON LA28'S PAID STAFF AND LA28'S PAID STRATEGIC ADVISORS, BROWNSTEIN HYATT FARBER SCHRECK LLP AND THE NICKLES GROUP TO COORDINATE WITH AND EDUCATE MEMBERS OF CONGRESS AND CONGRESSIONAL STAFF ABOUT PLANS FOR THE 2028 GAMES AND THE OLYMPIC AND PARALYMPIC MOVEMENTS IN THE UNITED STATES, GENERALLY. LA28'S PAID STAFF AND LA28'S PAID STRATEGIC ADVISORS, BROWNSTEIN HYATT FARBER SCHRECK LLP AND THE NICKLES GROUPALSO ENGAGED WITH FEDERAL GOVERNMENT OFFICIALS ON HOMELAND SECURITY, VISAS, TRANSPORTATION, AND OTHER POLICY ISSUES RELATED TO THE 2028 GAMES. LA28'S PAID STAFF AND LA28'S PAID STRATEGIC ADVISOR, SHAW YODER ANTWIH SCHMELZER & LANGE ("SYASL") ENGAGED WITH CALIFORNIA STATE GOVERNMENT OFFICIALS ON PLANS FOR THE 2028 GAMES AND ON TRANSPORTATION AND PUBLIC SAFETY PLANNING. LA28'S PAID STAFF AND LA28'S PAID STRATEGIC ADVISORS, M STRATEGIC COMMUNICATIONS, WORKED WITH LOCAL GOVERNMENT OFFICIALS ON ISSUES RELATED TO GAMES PLANNING AND PREPARATION, INCLUDING THE LA28 VENUE PLAN, TRANSPORTATION, PUBLIC SAFETY, AND ENERGY ISSUES. LA28'S PAID STAFF EDUCATED MEMBERS OF THE LOS ANGELES CITY COUNCIL, THE MAYOR OF LOS ANGELES, AND THEIR STAFF TO ASSIST THEIR CONSIDERATION OF YOUTH SPORTS PROGRAMMING, IMPLEMENTATION OF AN AGREEMENT (GAMES AGREEMENT), AND POLICY PRIORITIES RELATED TO THE GAMES. PART II-B, LINE 1G LA28, BROWNSTEIN HYATT FARBER SCHRECK LLP AND THE NICKLES GROUP HAD DIRECT CONTACT WITH GOVERNMENT OFFICIALS TO COORDINATE WITH AND EDUCATE MEMBERS OF CONGRESS AND CONGRESSIONAL STAFF ABOUT PLANS FOR THE 2028 GAMES AND IN SUPPORT OF THE OLYMPIC AND PARALYMPIC MOVEMENTS IN THE UNITED STATES GENERALLY. LA28, BROWNSTEIN HYATT FARBER SCHRECK LLP AND THE NICKLES GROUP ALSO ENGAGED WITH GOVERNMENT OFFICIALS ON HOMELAND SECURITY, VISAS, TRANSPORTATION AND OTHER POLICY ISSUES RELATED TO THE 2028 GAMES. LA28 AND SYASL ENGAGED WITH CALIFORNIA GOVERNMENT OFFICIALS ON TRANSPORTATION AND PUBLIC SAFETY PLANNING. LA28 AND M STRATEGIC COMMUNICATIONS ENGAGED WITH LOS ANGELES CITY COUNCIL, THE MAYOR OF LOS ANGELES, AND THEIR STAFF TO ASSIST THEIR CONSIDERATION OF YOUTH SPORTS PROGRAMMING, IMPLEMENTATION OF AN AGREEMENT (GAMES AGREEMENT), AND POLICY PRIORITIES RELATED TO THE GAMES. 3040194 1856109 1184085 89608 89608 0 473815 410091 63724 1247809 RIGHT OF USE ASSETS 9659186 DEPOSITS AND OTHER NON-CURRENT ASSETS 188355 9847541 DEFERRED RENT/LEASE INCENTIVE - LT 9133788 DEFERRED RENT/LEASE INCENTIVE - ST 1965543 OTHER NON-CURRENT LIABILITIES 86687315 97786646 X PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON INCOME FROM ACTIVITIES RELATED TO THEIR EXEMPT PURPOSES UNDER IRC SECTION 501(A) OF THE INTERNAL REVENUE CODE AS ORGANIZATIONS DESCRIBED IN IRC SECTION 501(C)(3). THE ORGANIZATION IS ALSO A PUBLIC CHARITY UNDER IRC SECTION 509(A). THE ORGANIZATION IS SUBJECT TO UNRELATED BUSINESS INCOME TAX FOR INCOME FROM OPERATING ACTIVITIES NOT RELATED TO THEIR EXEMPT PURPOSE. UNRELATED BUSINESS INCOME IS TAXED BASED ON THE APPLICABLE STATUTORY FEDERAL AND STATE INCOME TAX RATES FOR FOR-PROFIT ORGANIZATIONS. FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, THE ORGANIZATION DID NOT HAVE UNRELATED BUSINESS INCOME OR UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2024, TAX YEARS AFTER 2020 ARE OPEN FOR AUDIT. EUROPE (INCLUDING ICELAND & GREENLAND) 0 89 PROGRAM SERVICES GAMES OPERATION AND OBSERVATION 2855627 0 89 0 0 0 89 2855627 0 2855627 0 0 0 0 0 0 1 CITY OF LOS ANGELES DEPARTMENT OF RECREATION AND PARKS 221 N FIGUEROA STREET SUITE 350 LOS ANGELES CA 90012 956000735 GOVERNMENT ENTITY 25087881 0 ADVANCE ORGANIZATION'S MISSION BY FUNDING YOUTH SPORT PARTNERSHIP TO MAKE SPORT MORE ACCESSIBLE AND AFFORDABLE TO MORE YOUNG LOS ANGELINOS LEADING UP TO THE GAMES IN 2028. 1 0 PART I, LINE 2: GRANT RECIPIENTS ARE REQUIRED TO SEPARATELY ACCOUNT FOR THE USE OF THE GRANT FUNDS ON THEIR BOOKS AND RECORDS SO THAT THE ORGANIZATION CAN VERIFY IF THE FUNDS HAVE BEEN USED FOR CHARITABLE PURPOSES. THE ORGANIZATION HAS THE RIGHT TO AUDIT AND INSPECT THE BOOKS AND RECORDS OF ITS GRANT RECIPIENTS TO CONFIRM THE PROPER USE OF THE FUNDS. IF ANY FUNDS ARE NOT USED FOR THE PURPOSE OF THE GRANT, THE RECIPIENTS WILL BE REQUIRED TO RETURN SUCH FUNDS TO THE ORGANIZATION. X X 1 1 X X X 1 0 0 0 0 0 0 0 0 KATHRYN CARTER FORMER CHIEF EXECUTIVE OFFICER 0 0 100000 0 1850000 0 0 0 0 0 1950000 0 0 0 BRIAN LAFEMINA FORMER CHIEF BUSINESS OFFICER 743531 0 0 0 309000 0 0 0 0 0 1052531 0 0 0 JOHN SLUSHER CHIEF EXECUTIVE OFFICER (USOPP) 0 33654 0 900000 0 115 0 0 0 1957 0 935726 0 0 TANJA OLANO CHIEF LGL/PPL/COMP OFF (END 9/24) 474121 0 400850 0 1429 0 0 0 12832 0 889232 0 0 0 KAREN STURGES CHIEF FINANCIAL OFFICER 463793 0 274450 0 3427 0 0 0 35117 0 776787 0 0 0 JOHN M HARPER CHIEF OPERATING OFFICER 477499 0 256631 0 2504 0 0 0 33413 0 770047 0 0 0 DANIEL KOBLIN CHIEF OPERATING OFFICER (USOPP) 0 469468 0 254181 0 1443 0 0 0 38015 0 763107 0 0 DAVID MICHAEL CHIEF INFORMATION OFFICER 470851 0 254603 0 3427 0 0 0 23647 0 752528 0 0 0 JANET B EVANS CHIEF ATHLETE OFFICER 450409 0 251528 0 2504 0 0 0 33621 0 738062 0 0 0 CHRISTOPHER PEPE CHF COMMERCIAL OFF(USOPP)(END 12/24) 0 518487 0 170454 0 1269 0 0 0 3974 0 694184 0 0 AMY GLEESON CHIEF MARKETING OFFICER 394913 0 235443 0 2068 0 0 0 34331 0 666755 0 0 0 MICHELLE SCHWARTZ CHF EXTERNAL AFFAIRS OFF (END 07/24) 453711 0 138375 0 1168 0 0 0 6439 0 599693 0 0 0 ELISABETH FREINBERG CHIEF LEGAL OFFICER & SECRETARY 319173 0 193000 0 1770 0 0 0 38652 0 552595 0 0 0 ALLISON KATZ-MAYFIELD SVP, GAMES DELIVERY REVENUE 296702 0 189900 0 1711 0 0 0 16331 0 504644 0 0 0 REYNOLD HOOVER CHIEF EXECUTIVE OFFICER (LA28) 474519 0 0 0 7312 0 0 0 5548 0 487379 0 0 0 MICHAEL BUTKOVIC SVP, FINANCIAL PLANNING 296423 0 143000 0 1890 0 0 0 23357 0 464670 0 0 0 RIC EDWARDS VP, EXECUTIVE DESIGN DIRECTOR 265586 0 76000 0 1835 0 0 0 38278 0 381699 0 0 0 WES GAVINS HEAD OF CYBERSECURITY 280341 0 74472 0 2086 0 0 0 5571 0 362470 0 0 0 PRISCILLA CHENG SVP, GOVERNMENT RELATIONS 295698 0 46058 0 1710 0 0 0 17244 0 360710 0 0 0 PATRICIA FEAU VP, CITY RELATIONS & FRMR SECRETARY 242730 0 71353 0 1980 0 0 0 38150 0 354213 0 0 0 AARON LOWENSTEIN VP, DEPUTY GENERAL COUNSEL 221221 0 15190 0 1757 0 0 0 22217 0 260385 0 0 0 ANNA SCHMITZ SR. MANAGER, RISK & FORMER SECRETARY 191771 0 19514 0 1615 0 0 0 28023 0 240923 0 0 0 PART I, LINE 1A FIRST-CLASS TRAVEL WAS PROVIDED TO FOUR OFFICERS, WHICH WAS NOT TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUALS. HOUSING ALLOWANCES WERE PROVIDED TO TWO OFFICERS, WHICH WERE TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUALS. PART I, LINE 4A THE ENTIRE AMOUNT LISTED IN COLUMN (B)(III) TO KATHRYN CARTER AND BRIAN LAFEMINA WERE MADE BY THE LOS ANGELES ORGANIZING COMMITTEE OF THE OLYMPIC AND PARALYMPIC GAMES 2028 PURSUANT TO THE TERMS OF A MUTUALLY AGREED UPON SEPARATION AGREEMENT. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS DELEGATED ALL THE POWER AND AUTHORITY OF THE BOARD, EXCEPT FOR THE DUTIES THAT HAVE BEEN EXPRESSLY DELEGATED TO OTHER COMMITTEES, AND EXCEPT FOR AUTHORITY THAT IS NOT PERMITTED TO BE POSSESSED BY OR DELEGATED TO A COMMITTEE UNDER CALIFORNIA NONPROFIT LAW, OR THE ARTICLES OF INCORPORATION OF THE ORGANIZATION, OR THE BYLAWS OF THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B THE BYLAWS OF THE ORGANIZATION PROVIDE CERTAIN CONSENT RIGHTS TO THE UNITED STATES OLYMPIC AND PARALYMPIC COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION RETAINS A CERTIFIED PUBLIC ACCOUNTING FIRM TO PREPARE FORM 990. THE RETURN PREPARER PROVIDES A COPY OF FORM 990 TO THE ORGANIZATION'S CHAIRPERSON, CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER, CHIEF LEGAL OFFICER, SVP CONTROLLER, AND AUDIT COMMITTEE FOR REVIEW BEFORE IT IS FILED. ANY ISSUES ARISING FROM THESE REVIEWS ARE DISCUSSED AND RESOLVED WITH THE RETURN PREPARER BEFORE FILING. A COPY OF THE REVISED FORM 990 IS MADE AVAILABLE TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR ITS REVIEW. FOLLOWING SUCH REVIEW, UPON APPROVAL FROM THE ORGANIZATION'S CHAIRPERSON AND CHIEF EXECUTIVE OFFICER, FORM 990 IS FILED. FORM 990, PART VI, SECTION B, LINE 12C ORGANIZATION HAS A FORMAL CONFLICT OF INTEREST POLICY. ARTICLE III OF SUCH POLICY DESCRIBES PROCEDURES TO DISCLOSE AND RESOLVE CONFLICTS OF INTEREST. ADDITIONAL OVERSIGHT IS BEING PROVIDED THROUGH THE CONFLICTS COMMITTEE UNDER THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 IN JUNE 2024, THE LA28 BOARD OF DIRECTORS ENGAGED MERCER US INC. ("MERCER") TO EVALUATE AND SUBMIT A REASONABLENESS OPINION TO THE BOARD FOR REVIEW IN CONJUCTION WITH THE HIRING OF THE LA28 CEO. IN MERCER'S OPINION, THE BENCHMARKING AND MARKET EVALUATION PROCESS AND RESULTING MARKET COMPARABILITY DATA SATISFY ALL REQUIREMENTS FOR COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS OF LA28 REVIEWED AND RELIED UPON MERCER'S REASONABLENESS OPINION AND, HAVING DETERMINED THAT THE PROPOSED COMPENSATION FOR THE CEO WAS APPROPRIATE AND REASONABLE, APPROVED SUCH COMPENSATION. IN ADDITION, LA28'S CHAIRPERSON WORKS FOR THE ORGANIZATION ON A VOLUNTARY BASIS WITHOUT COMPENSATION. IN 2024, THE BOARD OF DIRECTORS OF LA28 ENGAGED MERCER TO EVALUATE THE REASONABLENESS OF THE PROPOSED COMPENSATION PROGRAM FOR LA28 AND USOPP'S PAID SENIOR EXECUTIVES ("THE EXECUTIVES"). IN MERCER'S REPORT ENTITLED EXECUTIVE COMPENSATION ASSESSMENT, MERCER DOCUMENTED ITS MARKET EVALUATION METHODOLOGY AND MARKET FINDINGS. IN MERCER'S OPINION, THE BENCHMARKING AND MARKET EVALUATION PROCESS AND RESULTING MARKET COMPARABILITY DATA SATISFY ALL REQUIREMENTS FOR COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. ANY ADJUSTMENTS TO EXECUTIVE SALARY HAVE BEEN REVIEWED AND APPROVED BY BOARD. IN CONJUNCTION WITH THE MERCER REPORT DISCUSSED ABOVE, MERCER ALSO CONDUCTED A SERIES OF MARKET PRICING AND BENCHMARKING EXERCISES TO EVALUATE AND DETERMINE THE REASONABLENESS OF THE PROPOSED COMPENSATION PROGRAMS FOR NON-EXECUTIVE LA28 PAID STAFF. THE BENCHMARKING AND MARKET EVALUATION PROCESS AND RESULTING MARKET COMPARABILITY DATA SATISFY ALL REQUIREMENTS FOR COMPLIANCE WITH INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. MERCER CONTINUES TO BE THE ADVISORY PARTY TO ANY COMPENSATION PROGRAMS FOR LA28, INCLUDING PROVIDING ADVICE AND ANALYSIS WITH RESPECT TO COMPENSATION FOR NEW EXECUTIVE HIRES. FORM 990, PART VI, SECTION C, LINE 19 CERTAIN GOVERNING DOCUMENTS ARE HELD AT THE ORGANIZATION'S PRINCIPAL OFFICE. SUCH DOCUMENTS ARE OPEN TO INSPECTION BY PERSONS, AS REQUIRED BY LAW, AT ALL REASONABLE TIMES DURING OFFICE HOURS. DOCUMENTS NOT AVAILABLE AT THE ORGANIZATION'S PRINCIPAL OFFICE ARE AVAILABLE UPON REQUEST. 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