2016-07-11T12:50:06-05:00 2015-08-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2014-09-01 410693875 MINNESOTA ORCHESTRAL ASSOCIATION MINN 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 KEVIN SMITH PRESIDENT & CEO 6123715600 2016-06-15 1 LARRY ADAMS P01314654 6123764500 2014 2016-09-27 15:27:22Z KEVIN SMITH 1111 NICOLLET MALL MINNEAPOLIS MN 55403 60137632 0 X WWW.MINNESOTAORCHESTRA.ORG X 1907 MN A MINNESOTA SYMPHONY ORCHESTRA INTERNATIONALLY RECOGNIZED FOR ITS ARTISTIC EXCELLENCE. 60 59 740 350 173299 -204628 24613003 18362417 5540506 8159552 2180045 2662991 -161902 -40434 32171652 29144526 54121 42257 0 0 15327875 21287224 254783 189332 1607698 8863055 11105977 24499834 32624790 7671818 -3480264 232315806 208902992 27950722 21792998 204365084 187109994 THE MINNESOTA ORCHESTRA MISSION IS TO ENRICH, INSPIRE AND SERVE OUR COMMUNITY AS A SYMPHONY ORCHESTRA INTERNATIONALLY RECOGNIZED FOR ITS ARTISTIC EXCELLENCE. 0 0 28575532 42257 8159552 THE MINNESOTA ORCHESTRA IS RECOGNIZED FOR DISTINGUISHED PERFORMANCES AROUND THE WORLD, AWARD-WINNING RECORDINGS, RADIO BROADCASTS AND EDUCATIONAL PROGRAMS, AND COMMITMENT TO BUILDING THE REPERTOIRE OF THE FUTURE. THE ENSEMBLE NOW PRESENTS NEARLY 175 CONCERTS THAT ARE HEARD LIVE BY 350,000 INDIVIDUALS, AND EDUCATION AND OUTREACH PROGRAMS THAT SERVE 85,000 MUSIC LOVERS OF ALL AGES. THE ORCHESTRA MAKES ITS HOME AT ORCHESTRA HALL IN MINNEAPOLIS, WHERE ITS CONCERTS ARE BROADCAST ACROSS THE STATE EACH FRIDAY EVENING BY MINNESOTA PUBLIC RADIO. MANY PROGRAMS ARE SUBSEQUENTLY HEARD NATION-WIDE ON AMERICAN PUBLIC MEDIA RADIO PROGRAMS. 28575532 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 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0 0 1 173 0 1 740 1 1 1 0 0 0 0 1 1 0 0 0 0 X 60 59 1 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 MN WI X CHRIS TAUTE 6123715600 1111 NICOLLET MALL MINNEAPOLIS MN 55403 MICHAEL HENSON FORMER PRESIDENT & CEO 40.00 0.50 X X 1018454 0 30232 KEVIN SMITH PRESIDENT & CEO 40.00 0.00 X X 38769 0 1200 WARREN MACK CHAIR 1.00 0.00 X X 0 0 0 GORDON SPRENGER PAST CHAIR 1.00 0.00 X X 0 0 0 MARTIN LUECK TREASURER 1.00 0.00 X X 0 0 0 JANE GREGERSON SECRETARY 1.00 0.00 X X 0 0 0 MARGARET ANKENY DIRECTOR 1.00 0.00 X 0 0 0 KAREN BAKER DIRECTOR 1.00 0.00 X 0 0 0 ROCHELLE BLEASE DIRECTOR 1.00 0.00 X 0 0 0 DAVID BOEHNEN DIRECTOR 1.00 0.00 X 0 0 0 MARGARET BRACKEN DIRECTOR 1.00 0.00 X 0 0 0 BARBARA BURWELL DIRECTOR 1.00 0.00 X 0 0 0 MARI CARLSON DIRECTOR 1.00 0.00 X 0 0 0 NICKY CARPENTER DIRECTOR 1.00 0.00 X 0 0 0 MARK COPMAN DIRECTOR 1.00 0.00 X 0 0 0 KATHY CUNNINGHAM DIRECTOR 1.00 0.00 X 0 0 0 ANDREW CZAJKOWSKI DIRECTOR 1.00 0.00 X 0 0 0 JOHN FARRELL DIRECTOR 1.00 0.00 X 0 0 0 DOLLY FITERMAN DIRECTOR 1.00 0.00 X 0 0 0 LUELLA GOLDBERG DIRECTOR 1.00 0.00 X 0 0 0 PAUL GRANGAARD DIRECTOR 1.00 0.00 X 0 0 0 JOSEPH GREEN DIRECTOR 1.00 0.00 X 0 0 0 LAURIE HODDER GREENO DIRECTOR 1.00 0.00 X 0 0 0 BEVERLY GROSSMAN DIRECTOR 1.00 0.00 X 0 0 0 SUSAN HAGSTRUM DIRECTOR 1.00 0.00 X 0 0 0 KAREN HIMLE DIRECTOR 1.00 0.00 X 0 0 0 WILLIAM HODDER DIRECTOR 1.00 0.00 X 0 0 0 SHADRA HOGAN DIRECTOR 1.00 0.00 X 0 0 0 KAREN HUBBARD DIRECTOR 1.00 0.00 X 0 0 0 HELLA MEARS HUEG DIRECTOR 1.00 0.00 X 0 0 0 JAY IHLENFELD DIRECTOR 1.00 0.00 X 0 0 0 PHILIP ISAACSON DIRECTOR 1.00 0.00 X 0 0 0 STEVEN KENNEDY DIRECTOR 1.00 0.50 X 0 0 0 LLOYD KEPPLE DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL KLINGENSMITH DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL LANGLEY DIRECTOR 1.00 0.00 X 0 0 0 DOUGLAS LEATHERDALE DIRECTOR 1.00 0.00 X 0 0 0 ALLEN LENZMEIER DIRECTOR 1.00 0.00 X 0 0 0 NANCY LINDAHL DIRECTOR 1.00 0.00 X 0 0 0 RONALD LUND DIRECTOR 1.00 0.00 X 0 0 0 KATHLEEN LUNDEEN DIRECTOR 1.00 0.00 X 0 0 0 HARVEY MACKAY DIRECTOR 1.00 0.00 X 0 0 0 ANNE MILLER DIRECTOR 1.00 0.00 X 0 0 0 HUGH MILLER DIRECTOR 1.00 0.00 X 0 0 0 BETTY MYERS DIRECTOR 1.00 0.00 X 0 0 0 MARILYN NELSON DIRECTOR 1.00 0.00 X 0 0 0 CHRISTOPHER J O'CONNELL DIRECTOR 1.00 0.00 X 0 0 0 ANITA PAMPUSCH DIRECTOR 1.00 0.00 X 0 0 0 SUSAN PLATOU DIRECTOR 1.00 0.00 X 0 0 0 CHRIS POLICINSKI DIRECTOR 1.00 0.00 X 0 0 0 PAULA PRAHL DIRECTOR 1.00 0.00 X 0 0 0 JUDY RANHEIM DIRECTOR 1.00 0.00 X 0 0 0 MICHAEL ROOS DIRECTOR 1.00 0.00 X 0 0 0 MATTHEW SPANJERS DIRECTOR 1.00 0.00 X 0 0 0 ROBERT SPKINGS DIRECTOR 1.00 0.00 X 0 0 0 ROBERT SPONG DIRECTOR 1.00 0.00 X 0 0 0 MARY SUMNERS DIRECTOR 1.00 0.00 X 0 0 0 MAXINE WALLIN DIRECTOR 1.00 0.00 X 0 0 0 TIM WELSH DIRECTOR 1.00 0.00 X 0 0 0 JOHN WILGERS DIRECTOR 1.00 0.00 X 0 0 0 AKS ZAHEER DIRECTOR 1.00 0.00 X 0 0 0 BRYAN EBENSTEINER VICE PRESIDENT - FINANCE 40.00 0.00 X 196569 0 25359 ROBERT NEU VP & GENERAL MANAGER 40.00 0.00 X 173460 0 19211 DIANNE BRENNAN VICE PRESIDENT - ADVANCEMENT 40.00 0.00 X 115769 0 4201 OSMO VANSKA MUSIC DIRECTOR 40.00 0.00 X 237346 0 4031 ERIN KEEFE MUSICIAN 40.00 0.00 X 147940 0 13055 ROBERT WRIGHT MUSICIAN 40.00 0.00 X 154185 0 25621 HERBERT WINSLOW MUSICIAN 40.00 0.00 X 139918 0 25621 ROGER FRISCH MUSICIAN 40.00 0.00 X 135988 0 20867 JOHN SNOW MUSICIAN 40.00 0.00 X 137449 0 25336 2495847 0 194734 22 0 1 0 FAEGRE BAKER DANIELS LLP 90 SOUTH 7TH STREET 2200 MINNEAPOLIS MN 55402 LEGAL 284647 CAMBRIDGE ASSOCIATES LLC 125 HIGH STREET BOSTON MA 02110 INVESTMENT CONSULTING 250000 STREAMWORKS LLC 3770 DUNLAP ST N ARDEN HILLS MN 55112 MARKETING 158700 ANDREW LITTON 3 THIES COURT SCARSDALE NY 10583 ORCHESTRAL CONDUCTOR 158110 KEVIN SMITH CONSULTING LLC 1691 PINEHURST AVE SAINT PAUL MN 55116 BUSINESS CONSULTANT 142250 9 915951 3149628 1190000 13106838 2589321 18362417 ORCHESTRA TICKETS 711130 5547518 5547518 CONCESSIONS & FEES 711130 1180935 1180935 RENTALS 711130 624267 429765 194502 NON-ORCHESTRA TICKETS 711130 435126 435126 ORCHESTRA SERVICE FEES 532000 233600 233600 138106 138106 8159552 847785 -21203 868988 16994 16994 32237347 30422141 1815206 1815206 1815206 116361 915951 272935 -156574 -156574 397176 298030 99146 99146 29144526 7965050 173299 2643760 42257 42257 2048367 1531339 401095 115933 15073048 13851267 530347 691434 783838 728857 23866 31115 2250973 2006617 106069 138287 1130998 1037531 40572 52895 135138 100393 34745 44054 44054 189332 189332 200000 200000 2699504 2556616 109935 32953 1918413 1918413 190778 77387 59447 53944 172368 113115 39850 19403 43114 43114 1004538 798841 205697 675194 627604 29589 18001 69712 46138 12482 11092 550672 170738 379934 1696665 1654211 21227 21227 164363 20581 143782 DIRECT CONCERT EXPENSES 678806 678806 ADMIN & FACILITY COSTS 419195 235812 58869 124514 CREDIT CARD FEES 186357 186357 MUSIC RENTAL LICENSES 143551 143551 113555 5987 107568 32624790 28575532 2441560 1607698 3637170 1226453 1257969 49872 7186610 11498694 596629 418250 39974 55122 629572 734806 73951336 20330604 54483809 53620732 49873410 39739718 113879113 100842682 731550 716663 232315806 208902992 3249932 1884027 2802584 3199817 1690000 1690000 6400000 5800000 9250000 2300000 4558206 6919154 27950722 21792998 X 23704530 9904762 8635693 9297193 172024861 167908039 204365084 187109994 232315806 208902992 X -3480264 -4532690 -9242136 X 0 1 X 1 0 X 18628242 32248414 11926506 24613005 18362417 105778584 18628242 32248414 11926506 24613005 18362417 105778584 33579342 72199242 1131452 1006689 981745 1007768 664779 4792433 110571017 32067805 0.65300 0.66100 X PART II, SECTION A: SHOWS SIGNIFICANT INCREASES IN PUBLIC SUPPORT IN 2009 AND 2011 COMPARED TO THE OTHER YEARS SHOWN. MOA WAS RENOVATING ORCHESTRA HALL AND HAD BEEN RAISING SUPPORT TO FUND THE COST OF THE RENOVATION. IN 2009 $15.2M IN DONATIONS WERE RECEIVED FOR THE HALL RENOVATION PROJECT. IN 2011 MOA RECEIVED A $14M BONDING GRANT FROM THE STATE OF MINNESOTA ALSO FOR THE HALL RENOVATION PROJECT. IN 2014 MOA RECEIVED A $10M GIFT FROM AN INDIVIDUAL DONOR TO BENEFIT THE MINNESOTA ORCHESTRA AND THE BUILDING FOR THE FUTURE FUND OF THE OAKLEAF ENDOWMENT TRUST. THESE WERE ONE-TIME, SPECIAL CONTRIBUTIONS AND GRANTS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 48965 48965 32375826 32424791 1000000 250000 0 0 1000000 750530 1000000 1000000 3750530 5625795 81350 144830 77493 48965 352638 250000 187633 250000 250000 937633 1406450 SCHEDULE C, PART II-A TOTAL LOBBYING EXPENSES ARE RELATED TO PAYMENTS MADE TO A LEGAL FIRM AND DUES TO MINNESOTA CITIZENS FOR THE ARTS. 58402305 121675 -1513421 16223525 40787034 58050629 6950277 6598601 58402305 59035640 132053 4514710 5631774 58050629 69012220 413 2496514 12473507 59035640 74599095 945650 5615404 12147929 69012220 0.00000 1.00000 0.00000 0 0 3006334 3006334 63930131 14706214 49223917 524521 168284 356237 6447658 5456106 991552 42692 42692 53620732 89528971 F PRIVATE EQUITY 11313711 F 100842682 UNFUNDED PENSION LIABILITY 6562917 LEASEHOLD INCENTIVE LIABILITY 356237 6919154 X 19555474 -4532690 -5427327 -9960017 29515491 200000 -570965 -370965 29144526 36810564 4385774 4385774 32424790 200000 200000 32624790 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 -167,554. CHANGE IN BENEFICIAL INTEREST IN NET ASSETS OF FOUNDATION & TRUST -5,259,773. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES -272,935. COST OF GOODS SOLD -298,030. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 298,030. FUNDRAISING EVENT EXPENSES 272,935. PENSION GAIN 3,814,809. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 5209510 0 0 0 0 0 0 5209510 0 5209510 1 0 0 1 1 0 X X X X X X X 1 RUFFALO CODY 1025 KIRKWOOD PKWY SW CEDAR RAPIDS IA 55404 TELEPHONE CAMPAIGN 0 686080 189332 496748 686080 189332 496748 MN WI BALL 1032312 915951 116361 142161 114157 13518 3099 1032312 915951 116361 142161 114157 13518 3099 272935 -156574 1 MINNESOTA CITIZENS FOR THE ARTS 2233 UNIVERSITY AVENUE ST PAUL MN 55114 411262965 501(C)(4) 42257 0 N/A N/A ARTS LOBBYING 0 1 PART I, LINE 2: GRANTS TO ORGANIZATIONS WERE MADE TO SUPPORT LOBBYING ACTIVITIES. MEETINGS ARE HELD BY THE RECIPIENTS TO DISCUSS ON-GOING EFFORTS AND CURRENT ISSUES. X X 1 1 1 0 0 0 0 0 0 1 0 MICHAEL HENSON FORMER PRESIDENT & CEO 279649 0 333818 0 404987 0 10400 0 19832 0 1048686 0 0 0 BRYAN EBENSTEINER VICE PRESIDENT - FINANCE 179991 0 15000 0 1578 0 7634 0 17725 0 221928 0 0 0 ROBERT NEU VP & GENERAL MANAGER 162557 0 10000 0 903 0 4217 0 14994 0 192671 0 0 0 OSMO VANSKA MUSIC DIRECTOR 237346 0 0 0 0 0 0 0 4031 0 241377 0 0 0 ERIN KEEFE MUSICIAN 147940 0 0 0 0 0 5932 0 7123 0 160995 0 0 0 ROBERT WRIGHT MUSICIAN 154185 0 0 0 0 0 6820 0 18801 0 179806 0 0 0 HERBERT WINSLOW MUSICIAN 139918 0 0 0 0 0 6820 0 18801 0 165539 0 0 0 ROGER FRISCH MUSICIAN 135988 0 0 0 0 0 6820 0 14047 0 156855 0 0 0 JOHN SNOW MUSICIAN 137449 0 0 0 0 0 6535 0 18801 0 162785 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE - OSMO VANSKA - INCLUDED IN TAXABLE COMPENSATION. BUSINESS CLUB DUES - MICHAEL HENSON AND KEVIN SMITH - MINNEAPOLIS CLUB - NOT INCLUDED IN TAXABLE COMPENSATION AND UTILIZED FOR BUSINESS PURPOSES AND MEETINGS. PART I, LINE 4A MICHAEL HENSON - SEVERANCE PAYMENT - $404,987 PART I, LINE 7 MICHAEL HENSON RECEIVED BONUS PAYMENTS FOR PERFORMANCE IN 2013 AND 2014 THAT WERE INCLUDED TAXABLE COMPENSATION THAT WERE REPORTED IN THE 2014 FORM W-2. THE NON-FIXED BONUS PAYMENTS WERE DETERMINED BY THE HR COMMITTEE OF THE BOARD OF DIRECTORS WITHIN THE PARAMETERS OF THE EMPLOYMENT AGREEMENT BETWEEN M. HENSON AND THE ASSOCIATION. 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 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 0 1 0 0 0 0 A 0 KEVIN SMITH CONSULTING LLC PRESIDENT/CEO OF THE ASSOCIATION AND AN OWNER OF KEVIN SMITH CONSULTING LLC 142250 BUSINESS CONSULTING 0 X 58 2589321 TRADING PRICE 0 0 1 0 PART I, COLUMN (B): THE ASSOCIATION REPORTS THE NUMBER OF CONTRIBUTORS ON PART I, COLUMN (B). FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE INCLUDES THE CHAIR, THE CHAIR-ELECT, THE IMMEDIATE PAST CHAIR, THE PRESIDENT, THE SECRETARY, THE TREASURER, THE PRESIDENT OF WAMSO-MINNESOTA ORCHESTRA VOLUNTEER ASSOCIATION, AND OTHER VOTING MEMBERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE, SUBJECT AT ALL TIMES TO THE CONTROL AND DIRECTION OF THE BOARD OF DIRECTORS, HAS AND EXERCISES THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE CORPORATION IN THE INTERVALS BETWEEN MEETINGS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 BEN FOWKE, RICHARD DAVIS & CHRIS POLICINSKI - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 7A THE PRESIDENT OF THE MINNESOTA ORCHESTRAL ASSOCIATION, THE PRESIDENT OF WAMSO-MINNESOTA ORCHESTRA VOLUNTEER ASSOCIATION, THE PRESIDENT-ELECT OF WAMSO, AND THE PRESIDENT OF THE YOUNG PEOPLE'S SYMPHONY CONCERT ASSOCIATION ARE EX-OFFICIO VOTING DIRECTORS DURING THE TERMS OF THEIR OFFICES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY THE STAFF OF THE MINNESOTA ORCHESTRAL ASSOCIATION. IT WAS THEN REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM, WHO THEN REVIEWED IT IN DETAIL WITH THE ASSOCIATION'S AUDIT COMMITTEE. THE AUDIT COMMITTEE CONSISTS ENTIRELY OF BOARD MEMBERS AND APPROVED THE FORM 990 ON BEHALF OF THE ENTIRE BOARD. 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 OTHER KEY PERSONNEL 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 FINANCE COMMITTEE OF THE BOARD OF DIRECTORS ALSO 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 2015. 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 -9,242,136. THE OAKLEAF ENDOWMENT TRUST FOR THE MINNESOTA ORCHESTRA 80 SOUTH EIGHTH STREET MINNEAPOLIS MN 55402 416429379 INVESTMENT MN 501(C)(3) LINE 11A, 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 3149628 FAIR MARKET VALUE