2014-04-14T22:23:11-05:00 2013-05-31 SMITH & HOWARD PC 271 17TH STREET SUITE 1600 ATLANTA GA 30363 990 2012-06-01 580633971 ROBERT W WOODRUFF ARTS CENTER INC % VIRGINIA A HEPNER ROBE 4047334200 1280 PEACHTREE ST NE Suite ATLANTA GA 30309 virginia hepner 4047334200 2014-04-15 true MARC AZAR 4048746244 2012 2015-11-30 17:44:51Z VIRGINIA a HEPNER 1280 PEACHTREE ST ATLANTA GA 30309 306510859 false X WWW.WOODRUFFCENTER.ORG X 1965 GA CHARITABLE ARTS ORGANIZATION TO INSPIRE, CREATE, SUPPORT AND CELEBRATE RENOWNED ARTS AND EDUCATION FOR DIVERSE AUDIENCES THROUGH OUR UNIQUE MODEL OF DIVISIONS AND COLLABORATIONS. 86 81 1133 1856 2065279 -680169 54782820 43243564 37345775 32213631 5346227 33932538 4877050 3784350 102351872 113174083 0 0 0 0 42944079 44082632 1341745 1439934 6621765 75988805 66160528 120274629 111683094 -17922757 1490989 659896132 686631296 245352126 249553431 414544006 437077865 X Charitable Arts Organization To Inspire, create, support, and celebrate renowned arts and education for diverse audiences through our unique model of divisions and collaborations, in an institutionally sustainable manner. false false 51506092 22469024 ATLANTA SYMPHONY ORCHESTRA: The Atlanta Symphony Orchestra consistently affirms its position as one of America's leading Orchestras by performing great music, presenting great artists, educating, and engaging the community. The Orchestra is known for the excellence of its live performances, presentations, renowned choruses, and its impressive list of 27 Grammy Award-winning recordings. The leading cultural organization in the southeast, the Symphony serves as the cornerstone for artistic development and music education in the region. The Orchestra and audiences together explore a creative programming mix, recording and visual enhancements such as Theatre of a Concert, the Orchestra's continuing exploration of different formats, settings, and enhancements for the musical performance experience. The Atlanta School of Composers reflects Music Director Robert Spano and the Orchestra's commitment to nurturing and championing music through multi-year partnerships defining a new generation of American composers. Since the beginning of his tenure, Mr. Spano and the Orchestra have performed over 100 concerts containing contemporary works. The Orchestra performs more than 200 concerts each year for a combined audience of more than half a million in a full schedule of performances which also feature educational and community concerts. With the opening of Verizon Wireless Amphitheatre at Encore Park in 2008, the Atlanta Symphony became the first U.S. orchestra to annually perform and present in its concert hall and in two amphitheatres. 25950385 3337006 High Museum of Art: The High Museum of Art is the leading museum of art in the southeastern United States. With more than 13,500 works of art in its permanent collection, the High Museum has an extensive anthology of 19th and 20th century American art and burgeoning collections of modern and contemporary art, photography, and African art. In November 2005, the High opened three new buildings designed by architect Renzo Piano which more than doubled the Museum's size, creating a vibrant "village for the arts" at the Woodruff Arts Center in midtown Atlanta. 11444902 5631610 Alliance Theatre: Atlanta's nationally acclaimed Alliance Theatre, recipient of the 2007 Regional Tony Award, is the leading professional resident theatre in the Southeast, creating the powerful experience of shared theatre for diverse people on the alliance and hertz stages for youth and adult audiences. known for its high artistic standards and national role in creating significant theatrical works, the alliance launched tony award-nominated hits to broadway including, Alice walker's the color purple, sister act the musical, elton John and tim Rice's Aida, alfred uhry's the last night of ballyhoo, and come fly with me by twyla tharpe/Frank sinatra productions; three of which(the color purple, aida, and the last night of ballyhoo) were award winning. Evidence of the alliance's commitment to new work is found in its nationally recognized kendeda graduate playwriting competition; a cutting-edge program introducing student playwrights to professional networks while producing the world premiere of the winning student's work. 1444455 775991 90345834 true true false true false false false true false true true true false true false true false true false false false false false true true false false false false true true false false false false false false false false false true true true false false true true true true false false true 518 0 true 1133 true true true false false false false false true true false false false false false false false false false X 86 81 false true false true false false false true true false false true true true true true true true true true true GA X VIRGINIA A HEPNER 4047334200 1280 PEACHTREE ST ATLANTA GA 30309 X Mr Charles L Abney III 2.0 X Mr Thomas J Asher 2.0 X Mrs Juanita P Baranco 1.0 X Mr Edward H Bastian 1.0 X Dr Mark P Becker 2.0 X Ms Susan R Bell 2.0 X Mr W Stanley Blackburn 2.0 X Mr Kenny Blank 1.0 X Mr Paul W Bowers 2.0 X Mr J Bradford Branch 2.0 X Mrs Rosalind G Brewer 2.0 X Ms Kelly R Caffarelli 1.0 X Mrs Mary L Cahill 2.0 X Mr Stephen M Carter 1.0 X Mr Jeffrey S Cashdan 2.0 X MrSteve WChaddick 2.0 X Dr William Clarkson IV 2.0 X Mrs Shantella Cooper 2.0 X Mr Jerry Couvaras 1.0 X Ms Ann W Cramer 2.0 X Mr Michael Donnelly 2.0 X Mr Jere A Drummond 2.0 X Mr Dean Eisner 1.0 X Mr Joseph H Estes 1.0 X Mr Frank Fernandez 3.0 X Mr Martin L Flanagan 1.0 X Mr Robert E Gallagher 2.0 X Mr Javier C Goizueta 2.0 X Mr Jonathan Golden 2.0 X Mr Ernest LaMont Greer 2.0 X Mr Patrick J Gunning 2.0 X Mr James B Hannan 2.0 X Mr Douglas J Hertz 3.0 X Mr Philip S Jacobs 2.0 X Mr Gregory C Kelly 1.0 X Mr Muhtar Kent 1.0 X MrPhilip I Kent 1.0 X Mr William F Kimble 2.0 X Dr Elizabeth Kiss 2.0 X Mr Christopher W Klaus 1.0 X Mr Kerry W Kohnen 1.0 X Mr Kurt P Kuehn 2.0 X Mrs Jane D Lanier 1.0 X Mr Jonathan LeCompte 2.0 X Mr William H Linginfelter 2.0 X Mrs Karole F Lloyd 1.0 X Mr Christopher C Marquardt 2.0 X Mr Philip R Martens 2.0 X Ms Karol V Mason 1.0 X Mrs Carolyn C McClatchey 2.0 X Mr Frank S McGaughey III 2.0 X Mrs Penny McPhee 2.0 X Mr Thomas E Noonan 1.0 X Mrs Vicki Palmer 3.0 X Mr William Pate 2.0 X Dr GP Bud Peterson 2.0 X Mr L Craig Ramsey 2.0 X Mr Usher Raymond IV 2.0 X Mr Daniel D Reardon 3.0 X Ms Margaret C Reiser 2.0 X Joe W Rogers Jr 1.0 X Mr William H Rogers Jr 1.0 X Sylvia Russell 1.0 X Mrs Teya Ryan 1.0 X Mr S Stephen Selig III 2.0 X Mr Richard D Shirk 2.0 X Mr John W Somerhalder II 2.0 X Mr Terry Stent 2.0 X MrDarrick Stephens 2.0 X Mrs Geri P Thomas 2.0 X Mr Mark D Wasserman 2.0 X Mr D Richard Williams 2.0 X Mr Larry Gellerstedt III 3.0 X Mr M Douglas Ivester 3.0 X MrHoward Feinsand 3.0 X Mrs J Veronica Biggins 3.0 X Mr Barry N Berlin 3.0 X Mr Gary Price 3.0 X Ms Ingrid Saunders Jones 3.0 X Dr Beverly Daniel Tatum 3.0 X Mrs Lynda B Courts 3.0 X Mrs Victoria Palefsky 3.0 X James R Abrahamson 3.0 X Mrs Louise Sams 3.0 X Mrs Anne Game 3.0 X Joseph R Bankoff 40.0 X 290136 0 24505 Virginia A Hepner 40.0 X 174968 Stephen Merz 40.0 X 277383 35736 Stanley Romanstein 40.0 X 364292 30062 Susan Booth 40.0 X 272751 27036 Michael Shapiro 40.0 X 582285 238751 Robert Spano 40.0 X 662658 27007 Don Fox 40.0 X 280202 33745 Philip Verre 40.0 X 265382 35239 David Brenneman 40.0 X 235136 28335 Clayton Schell 40.0 X 210053 32003 3615246 0 512419 56 false true false WILLIAM MORRIS ENDEAVOR 1600 Division st suite 300 NASHVILLE TN 37203 Artist fees 2192235 JONES DAY 1420 PEACHTREE ST NE suite 800 ATLANTA GA 30309 LEGAL SERVICEs 803999 AEG LIVE LLC 5750 WILSHIRE BLVD STE 501 LOS ANGELES CA 90036 ARTIST FEEs 677160 SECURITAS SECURITY SERVICEs usa in po box 403412 ATLANTA GA 30384 SECURITY 669496 TOM PETTY THE HEARTBREAKERS INC 15260 Ventura BlVD 2100 SHERMAN OAKS CA 91403 Artist Fees 658875 63 X 3785729 1995017 612493 36850325 862020 43243564 PERFORMANCE ARTS TICKETS 711190 19277042 19277042 EDUC. PROGRAMS FEES 711190 1715201 1715201 PARKING REVENUE 711190 2435807 2386925 48882 MUSEUM EXHIBITIONS 711190 2282582 2282582 GENERAL ADMIN 711190 437417 437417 6065582 6065582 32213631 3268600 -107348 3375948 0 89191 89191 1431694 133331 1298363 0 1298363 1025262 273101 221087392 1 190149667 273788 30937725 -273787 30663938 30663938 2115216 1995017 1646011 469205 469205 0 3061570 1133979 1927591 829108 1098483 0 113174083 32993857 2065279 34871383 X 0 0 0 0 2003353 302028 1701325 0 34163104 28807505 2786882 2568717 1777822 1187126 527162 63534 3549828 2284523 1196896 68409 2588525 2146209 243460 198856 1382279 375509 965087 41683 1073314 35406 1036977 931 272636 272636 217 217 1439934 1439934 884000 751400 132600 11733839 10205988 1299741 228110 4960727 4524885 96887 338955 1060808 639178 -412782 834412 551411 434029 99449 17933 320209 252737 67472 4550879 3614305 936574 1392357 1119084 63519 209754 0 508698 143052 118949 246697 7784184 6574840 1209344 0 9168483 7585242 1583241 1016627 262647 753980 SET DESIGN COSTS 12729572 12693476 36096 EXHIBITION EXPENSE 6770288 6406665 363623 111683094 90345834 14715495 6621765 8057660 18281893 0 0 26203107 15398630 5066204 8514564 0 0 0 0 0 0 541172 853673 6874190 5391901 313265177 111068972 210644180 202196205 260368801 272378014 107784569 127051821 0 0 0 0 34356249 36564595 659896132 686631296 41154565 46964877 0 0 15937561 14328554 188260000 188260000 0 0 0 0 0 0 0 0 0 0 245352126 249553431 X 101402712 103227725 110888874 128958958 202252420 204891182 414544006 437077865 659896132 686631296 X 1490989 15115242 5927628 X false true X true false X 39126558 52805383 43293571 54782820 43243564 233251896 0 0 39126558 52805383 43293571 54782820 43243564 233251896 27041536 206210360 8399369 8231481 6494187 6341601 3740333 33206971 0 0 0 266458867 35662889 0.77389 0.86700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED true true false false false false true 44359 false false 44359 false PART II-B, LINE 1g LOBBYING EXPENDITURES IN AN EFFORT TO INCREASE ARTS FUNDING IN THE STATE OF GEORGIA. X X X X false 265665278 2177075 36308601 13658600 290492354 285700930 923239 -6890718 14068173 265665278 250866950 2648301 46642383 14456704 285700930 228309201 4126779 33298527 14867557 250866950 306150743 766137 -64447642 14160037 228309201 0.06000 0.64000 0.30000 true false 0 26151291 26151291 0 264020723 93698789 170321934 0 19588250 13984327 5603923 0 3504913 3385856 119057 202196205 HEDGE FUNDS 106222269 F PRIVATE EQUITY FUNDS 6991191 F DISTRESSED OPPORTUNITY FUNDS 3346044 F EMERGING MARKETS 1884033 F SENIOR DIRECT LOAN FUNDS 1700270 F REAL ESTATE FUNDS 4856735 F SD&A TELESERVICES, INC 2051279 127051821 CONSTRUCTION IN PROGRESS 15787389 BENEFICIAL INTEREST IN PERPETU 18755838 CONTRIBUTIONS RECEIVABLE 1309981 INVESTMENT IN JOINT VENTURE 711387 36564595 0 0 X PT III, LINE 1A THE MUSEUM'S COLLECTION COMPRISES MORE THAN 13,500 objects and works of art. the collections are maintained for public exhibition, education, and research in furtherance of public service rather than for financial gain and are considered to have cultural, aesthetic or historical value worth preserving perpetually. in conformity with accounting practices generally followed by art museums, the value of the museum's collections has been excluded from the consolidated statements of financial position. contributions for purchases of art objects are recorded as increases in net assets and purchases of art objects are recorded as decreases in net assets in the consolidated statement of activities. Part III, Line 4 The high musuem of art has more than 13,500 objects and works of art in its permanent collection, an extensive anthology of 19th and 20th century american and decorative art, significant holdings of european paintings, a growing collection of african-american art, and a burgeoning collection of modern, contemporary, and african art. the high is dedicated to supporting and collecting works by southern artists, and is distinguished as the only major museum in North America to have a curatorial department specifically devoted to the field of folk and self-taught art. Part V, Line 4 Endowment funds are available for use in operational support and organizational growth. Part X, Line 2 The Arts Center is a nonprofit organization for the cultural arts, exempt from income taxation under the provisions of Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. The Arts Center has a wholly owned subsidiary, SD&A Teleservices, Inc., that pays income taxes based on reported income before income taxes. Deferred income taxes reflect the effect of temporary differences between asset and liability amounts that are recognized for financial reporting purposes and the amounts that are recognized for income tax purposes. SD&A had an income tax expense for the years ended May 31, 2013 and 2012, of approximately $206,000 and $203,000, respectively. ASC 740, Accounting for Uncertainty in Income Taxes, establishes the criterion that an individual tax position has to meet for some or all of the benefits of that position to be recognized in the Arts Centers consolidated financial statements. Under ASC 740, the Arts Center is required to determine that the relevant tax authority would more likely than not sustain its tax position following an IRS audit. The Arts Center adopted the provisions of ASC 740 effective August 1, 2007, and has applied this criterion to all tax positions for which the statute of limitations remains open. Tax years open to examination by tax authorities under the statute of limitations include fiscal 2009 through 2013. The Arts Center has determined that its material tax positions satisfy the more likely than not criterion and that no provision for income taxes was required at May 31, 2013 and 2012, for uncertain tax positions. X X X X X X X true COXE CURRY ASSOCIATES CAMPAIGN CONSULT false 9205776 461494 8744282 DANILLER AND COMPANY CAMPAIGN CONSUL false 1372206 137437 1234769 TRANSFORMATIONAL DEVELOPMENT TELEFUNDING false 250000 40952 209048 TAYLAR DEVELOPMENT TELEFUNDING false 357810 117275 240535 SDA TELESERVICES TELEFUNDING false 442130 249660 192470 DIRECT RESOURCE GROUP CONSULTING false 186188 357782 0 Elisa Glazer Consulting false 24658 0 Elizabeth Perry Consulting false 112500 0 11814110 1501758 10621104 GA HIGH MUSEUM WIN 2131225 1163681 967544 285410 129006 333988 SHOW HOUSES 1007205 383788 623417 138071 84051 115804 178091 5 971803 447548 524255 54068 182254 60391 84877 4110233 1995017 2115216 477549 395311 176195 596956 1646011 469205 X X X true true X X X X X X true true false false false false false true false Joseph R Bankoff 290136 0 0 0 0 0 21250 0 3255 0 314641 0 0 0 Virginia A Hepner 174968 174968 Stephen Merz 232126 45257 29801 5935 313119 Stanley Romanstein 317347 45000 1945 13358 16704 394354 Robert Spano 662658 20750 6257 689665 Susan Booth 272751 23923 3113 299787 Michael Shapiro 547285 30000 5000 234280 4471 821036 Don Fox 248186 32016 21250 12495 313947 Philip Verre 254279 11103 29304 5935 300621 David Brenneman 202734 32402 22400 5935 263471 Clayton Schell 210053 15400 16603 242056 PART I, LINE 4A Individuals who served AS OFFICERS FOR PART OF THE YEAR RECEIVED SEVERANCE PAYMENTS AFTER THEIR EMPLOYMENT ENDED. PART 1, LINE 7 OFFICERS AND OTHER MANAGEMENT PERSONNEL ARE ELIGIBLE TO PARTICIPATE IN BONUSES. PART I, LINE 4B The arts center maintains a nonqualified plan for certain management personnel. Total expense for 2012 was $201,780. A DEVELOPMENT AUTHORITY OF DEKALB COUNTY 581500666 240463JG5 2009-09-24 5343160 REFUND 2/1/02 false false false B DEVELOPMENT AUTHORITY OF FULTON COUNTY 581639487 359900ZQ3 2009-09-24 125692191 REFUND 2/1/02, 4/28/04, 1/16/08 false false false C DEVELOPMENT AUTHORITY OF FULTON COUNTY 581639487 359900ZL4 2009-09-24 65000000 REFUND 2/1/02 false false false A 0 0 5343160 261750 0 0 91410 0 0 0 4990000 0 true false true true B 0 0 125692191 5901250 0 0 1425941 0 0 0 118365000 0 true false true true C 0 0 65000000 0 0 0 520605 274395 0 0 64205000 0 true false true true A false true true true false 0.07400 0.00580 0.07980 false false false false B false true true true false 0.07400 0.00580 0.07980 false false false false C false true true true false 0.07400 0.00580 0.07980 false false false false A false true false false 0 false 0 false false B false true false false 0 false 0 false false C false true true false 0 false 0 false false A false B false C false Part III, Line 4 & 5 0 Issues A, B, and C were a single issue for federal income tax purposes and therefore, the respones to Part III, lines 4 and 5 reflect percentages for the composite issue. In addition, Woodruff Arts Center's post-issuance compliance program identified a contract related to a bond-financed parking garage that did not meet a safe harbor under Rev. Proc. 97-13. The contract accounted for the majority of the reported private use and is being corrected. Based on an analysis conducted pursuant to its post-issuance compliance program, Woodruff Arts Center expects that it will be able to blend down the private use such that the bonds will comply with the permitted 5% limit on private use well before the end of the private use measurement period for the Bonds. Part III, Line 9; Part IV, Line 7; Part V 0 Although written procedures were not in place during Fiscal Year 2013, such policies are subsequently being adopted for fiscal year 2014. Paul Bowers Trustee 1793220 Utility Provider false Kerry Kohnen trustee 1594593 Heathcare Provider false Geri Thomas trustee 1368000 Banking Services false William Rogers Trustee 878138 Banking Services false PART IV SEVERAL TRUSTEES SERVE AS OFFICERS AT COMPANIES WITH WHICH WOODRUFF ARTS CENTER, INC. HAS A VENDOR RELATIONSHIP. BECAUSE OF THE SIZE OF TRANSACTIONS BETWEEN THESE VENDORS AND WOODRUFF ARTS CENTER, INC. DURING THE FISCAL YEAR, THESE TRUSTEES ARE REPORTED AS INTERESTED PERSONS. PAUL BOWERS, PRESIDENT & CEO - GEORGIA POWER COMPANY KERRY KOHNEN, PRESIDENT - KAISER PERMANENTE OF GA GERI THOMAS, GEORGIA MARKET PRESIDENT - BANK OF AMERICA WILLIAM ROGERS, CHAIRMAN & CEO - SUNTRUST X 63 0 X 81 696389 STOCK QUOTE X Wine - auction items 110 131134 fmv X THEATRICAL SUPPLIES 3 34497 FMV false true false Sch M, Line 1 UNDER SFAS 116, THE ORGANZATION DOES NOT REPORT REVENUES FOR ARTWORK AND COLLECTIONS RECEIVED ON ITS FINANCIAL STATEMENTS AS REPORTED ON LINE 1 OF SCHEDULE M. Sch M, Line 33 Donated works of art include painting, sculptures, prints, ceramics, decorative arts, and photography. Column B - the organization is reporting the number of contributions, not the number of items contributed. Pt III, Line 4D Young Audiences, Woodruff Arts Center(YA): The mission of Young Audiences, Woodruff Arts center(YA) is to transform the lives and learning of young people through the arts. ya is georgia's leading provider of educational arts programs for pre-k through high school students and one of 30 affiliates of young audiences, inc., the nation's largest source for arts-in-education services. founded in 1983 with just nine artists, ya has grown to an organization offering more than 200 distinct programs presented by a roster of more than 70 professional artists and ensembles. our programs are designed to broaden students' understanding and appreciation of authentic art forms, engage them in the creative process, and link their learning to other areas of the curriculum. our assembly performances, workshops, and residences encompass a wide variety of art forms, genres, and cultural traditions in the visual, performing, and literary arts and we serve more than 350,000 Georgia students annually from more than 75 counties across the state. Pt VI, Line 3 NEWBRIDGE MANAGEMENT, LLC PROVIDED FINANCIAL AND OTHER MANAGEMENT SERVICES TO woodruff ARTS CENTER. DUTIES INCLUDED STAFFING THE ROLE OF CFO DURING A TRANSITION PERIOD. THIS ENTAILED SUPERVISING FINANCE AND IT STAFF AND CONSULTING WITH THE PRESIDENT AND CEO CONCERNING EMPLOYMENT DECISIONS IN THESE DEPARTMENTS. ADDITIONAL DUTIES INCLUDED EVALUATING AND UPDATING POLICIES IN THE FINANCE AND IT DEPARTMENTS TO IMPROVE FINANCIAL, OPERATIONAL, DATA SECURITY, INFORMATION TECHNOLOGY AND INTERNAL CONTROLS. AS REQUESTED, THE CFO WAS RESPONSIBLE FOR DEVELOPING AND EXECUTING POLICIES TO IMPROVE OPERATIONAL EFFiCIENCIES IN OTHER AREAS AS WELL. NEWBRIDGE MANAGEMENT ALSO PROVIDED AN INTERIM CONTROLLER TO ASSIST THE CFO AS NEEDED. Pt VI, Line 5 During the fiscal year ending May 31, 2013, management of the Woodruff Arts Center identified fraudulent disbursements totaling approximately $1,440,000. Management engaged forensic and legal specialists to investigate and quantify the extent of the fraud. Their report concluded that the fraudulent disbursements occurred over an eight year period starting in the fiscal year ending May 31, 2006 and ending in the current fiscal year. The report further concluded that the fraudulent disbursements were the result of embezzlement by a former employee who has since been convicted and sentenced for his criminal activities. The fraudulent disbursements made in the fiscal year ending May 31, 2013 were recorded as maintenance costs. With the assistance of legal counsel, Woodruff Arts Center has concluded that the former employee, who was Director of Facilities and not an officer, was not a disqualified person for purposes of section 4958. Woodruff Arts Center has recovered the amount of the financial loss through insurance proceeds. In response to the fraud and to mitigate future risks, the board of the Woodruff Arts Center and its managers have hired a new Chief Financial Officer, retained financial controls experts, implemented new procedures in its financial department, and made changes to its internal organizational structure. The board and officers continue to monitor and evaluate the safeguards the organization currently has in place. Pt VI, Line 11a THE FORM 990 IS COMPLETED ANNUALLY AND COPIES ARE PROVIDED TO THE ENTIRE BOARD OF TRUSTEES AS WELL AS THE PRESIDENT/CEO OF THE ORGANIZATION. THE DRAFT 990 IS ALSO PRESENTED TO The GOVERNING BOARD AND THE AUDIT COMMITTEE, WHICH HAS THE OPPORTUNITY TO ASK QUESTIONS, AND PROVIDE FEEDBACK OR COMMENTS WHICH ARE ADDRESSED AS NECESSARY. A COPY OF THE APPROVED, SIGNED FORM 990 IS PROVIDED TO ALL OFFICERS, DIRECTORS, AND TRUSTEES BEFORE THE RETURN IS FILED. Pt VI, Line 12C Robert W. Woodruff Arts Center, Inc. (the "Arts Center") maintains a "Conflict of Interest Policy", originally adopted by the Board of Trustees in 1995, as amended thereafter (the "Policy"). This policy applies to all Art Center trustees, officers and employees, as well as other Arts Center representatives. The Policy is intended to prevent the Arts Center from engaging with related persons in transactions which are impermissible or improper under Georgia nonprofit corporation law or Federal tax law(although the Policy is more expansive than these laws.) The key definitions under the Policy are "Insider, "Family Member," and "Related Party." The Policy is reviewed and updated (if necessary) on an annual basis. The updated document is then distributed to the Audit Committee for review and approval. A copy of the policy and a related questionnaire is then distributed ANNUALLY to all Arts Center Trustees, officers and senior management, as well as other Arts Center representatives. Once responses are obtained, they are reviewed and results compiled, including a list of potential conflicts to be reviewed by the Audit Committee and Management. The Audit Committee will determine whether a business or financial relationship involving a trustee or officer should be entered into or continued. In the case of any such relationship involving a trustee, such a determination shall be set forth in a written report of the Audit Committee, signed by the Chairman and a majority of the Committee, and provided to the Board of Trustees. If the governing board or committee has reasonable cause to believe a trustee, officer, employee, or other representative has failed to disclose actual or possible conflicts of interest, it shall inform the Individual of the basis for such belief and allow him/her an opportunity to explain the alleged failure to disclose. If, after hearing the response and after making further investigation as warranted by the circumstances, the governing board or committee determines the trustee, officer, employee, or other representative has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action. Pt VI, Line 15 The determination of compensation for the officers and other key employees is the responsibility of the BOARD OF DIRECTORS OF THE Robert W. Woodruff Arts Center, Inc. which has delegated this to the Compensation Committee. The Compensation Committee is composed of INDEPENDENT board members whose responsibilities include, in part, the review and approval of the compensation for the officers and key employees. The compensation agreements deliberated by the Committee are determined based on comparable data which is documented in the records of the Committee's work. Such documentation is meant to meet or exceed the requirements which would satisfy the rebuttable presumption criteria under the intermediate sanctions language of the IRS. As the composition of the Compensation Committee is comprised exclusively of Board members, each Board member completes a conflict of interest statement which is reviewed by the Center's management prior to the completion and filing of the return. Pt VI, Line 19 Governing documents for the Robert W. Woodruff Arts Center, Inc. are registered with the State of Georgia. Conflict of interest policy and financial statements are available upon request. Pt IX, Line 11g Line 11g is in excess of 10% of total Functional Expense 10,251,254 - Atlanta Symphony Orchestra - Guest Artist Fees & Other Professional Services 830,968 - Alliance Theatre - Guest Artist Fees & Other Professional Services 637,779 - High Museum of Art - Exhibitions Related Professional Services 13,838 - Young Audiences - Guest Artist Fees & Other Professional Services Pt XI, Line 9 Other changes in net assets or fund balance 1,541,787 - Change in split interest agreements 2,646,016 - Change in minimum pension liability 1,466,450 - Change in value interest rate swap 273,375 - income from subsidiary corporation CHASTAIN VENTURES 1280 PEACHTREE STREET NE ATLANTA GA 30309 581930917 MUSICAL PERFORMAN GA NA B 50 50 true 0.50000 SD&A teleservices inc 5757 west century blvd los angeles CA 90045 200883414 telemarketing GA na c corp 14587595 4265752 1.00000 true E P McBurney Trust 303 peachtree street atlanta GA 30308 586029235 TRUST-INVESTING GA SUNTRUST TRUST 47215 1253257 1.00000 false E P MCBURNEY TRUST 303 PEACHTREE STREET ATLANTA GA 30308 586029260 TRUST-INVESTING GA SUNTRUST TRUST 280037 7453930 1.00000 false LUCY CLAIR HARRIS TRUST one west 4th street winstonsalem NC 27101 586163824 TRUST-INVESTING GA WELLS FARGO TRUST 6000 167394 1.00000 false Charitable Reminder trust (4) 999999999 trust investing GA various trust false false false false false false false false false false false true false true false true false true false false Chastain Ventures k 474414 cash sd&A teleservices inc M 249660 cash sd&a teleservices inc O 16500 cash sd&a teleservices inc Q 1525 CASH