2012-11-29T09:43:25-06:00 2011-12-31 861065772 DELOITTE TAX LLP TWO JERICHO PLAZA JERICHO NY 11753 990 2011-01-01 132805582 THE PALEY CENTER FOR MEDIA PALE 2126216740 25 WEST 52 STREET NEW YORK NY 10019 JOHN J WOLTERS 2126216740 2012-11-26 1 5169187000 2012-11-26 2011 2016-02-24 21:20:13Z PAT MITCHELL 25 WEST 52 STREET NEW YORK NY 10019 14831710 0 X WWW.PALEYCENTER.ORG X 1975 NY SEE SCHEDULE O. 50 49 137 10 418117 0 12370600 10639327 1266596 1120803 128703 383061 135328 561746 13901227 12704937 0 0 0 0 8334205 8075595 0 0 2195811 12407572 10268966 20741777 18344561 -6840550 -5639624 112279240 110640718 2414191 3137036 109865049 107503682 X SEE SCHEDULE O 0 0 7543331 468655 SEE SCHEDULE O. 2018749 135075 SEE SCHEDULE O. 1865395 144970 SEE SCHEDULE O. 1309984 69174 IN 2011, THE UNIVERSITY SEMINAR SERIES WAS MADE AVAILABLE TO OUR UNIVERSITY NETWORK OF OVER 600 SCHOOLS ON DEMAND AND LIVE STREAMING SEMINARS AND EVENTS ARE AVAILABLE ON OUR WEBSITE FOR VIEWING IN THEIR ENTIRETY TO PROFESSORS AND STUDENTS THROUGHOUT THE YEAR. IN 2011, THE PALEY CENTER'S GROUP EDUCATION PROGRAM, WHICH SERVES STUDENTS, SCHOOL EDUCATORS AND ADMINISTRATORS, FAMILIES, AND CAMP AND COMMUNITY GROUPS FROM THE NEW YORK METROPOLITAN AREA AND BEYOND - ENCOMPASSING A CLASS PROGRAM, DISTANCE LEARNING PROGRAM, AND PROFESSIONAL DEVELOPMENT WORKSHOPS FOR TEACHERS AND ADMINISTRATORS, AS WELL AS SPECIAL EDUCATION INITITATIVES AND MULTI-PART PROGRAMS - SERVED APPROXIMATELY 12,000 STUDENTS, TEACHERS, AND FAMILIES. THE DISTANCE LEARNING PROGRAM REACHED CLASSROOMS IN 14 STATES, AS WELL AS TWO PROVINCE IN CANADA.DIGITAL AND DVD SALES OF SEMINARS AND PROGRAMS TO EDUCATE THE GENERAL PUBLIC. 1309984 69174 12737459 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 107 0 1 137 1 1 1 0 0 0 0 1 1 0 0 0 0 X 50 49 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 0 0 1 0 0 CA NY X SIMON LAZOWSKY 2126216740 25 WEST 52 STREET NEW YORK NY 10019 DANIEL L MOSLEY 1.00 X 0 0 0 FRANK A BENNACK JR 1.00 X 0 0 0 GORDON CRAWFORD 1.00 X 0 0 0 GUSTAVE M HAUSER 1.00 X 0 0 0 MEL KARMAZIN 1.00 X 0 0 0 KAY KOPLOVITZ 1.00 X 0 0 0 PAT MITCHELL 40.00 X X 676935 0 37084 JUDY HART ANGELO 1.00 X 0 0 0 WALLIS ANNENBERG 1.00 X 0 0 0 LOREEN ARBUS 1.00 X 0 0 0 TIM ARMSTRONG 1.00 X 0 0 0 NIKESH ARORA 1.00 X 0 0 0 GARY B BETTMAN 1.00 X 0 0 0 GLENN BRITT 1.00 X 0 0 0 KIM CATTRALL 1.00 X 0 0 0 PETER CHERNIN 1.00 X 0 0 0 CESAR CONDE 1.00 X 0 0 0 JOAN GANZ COONEY 1.00 X 0 0 0 PHILIPPE DAUMAN 1.00 X 0 0 0 RONALD R DAVENPORT SR 1.00 X 0 0 0 PATRICIA FILI-KRUSHEL 1.00 X 0 0 0 JAMES L GREENWALD 1.00 X 0 0 0 LEO HINDERY JR 1.00 X 0 0 0 ROBERT A IGER 1.00 X 0 0 0 HENRY A KISSINGER 1.00 X 0 0 0 SCOTT KURNIT 1.00 X 0 0 0 JOSHUA KUSHNER 1.00 X 0 0 0 DEBRA LEE 1.00 X 0 0 0 KENNETH LOWE 1.00 X 0 0 0 JOHN W MADIGAN 1.00 X 0 0 0 BURT MANNING 1.00 X 0 0 0 JOHN K MARTIN JR 1.00 X 0 0 0 BARRY M MEYER 1.00 X 0 0 0 JONATHAN MILLER 1.00 X 0 0 0 LESLIE MOONVES 1.00 X 0 0 0 WILLIAM C PALEY 1.00 X 0 0 0 DAN RATHER 1.00 X 0 0 0 SUMNER REDSTONE 1.00 X 0 0 0 GEOFFREY K SANDS 1.00 X 0 0 0 IVAN SEIDENBERG 1.00 X 0 0 0 TERRY SEMEL 1.00 X 0 0 0 STANLEY S SHUMAN 1.00 X 0 0 0 DAVID J STERN 1.00 X 0 0 0 HOWARD STRINGER 1.00 X 0 0 0 ROSALIND P WALTER 1.00 X 0 0 0 BARBARA WALTERS 1.00 X 0 0 0 BLAIR WESTLAKE 1.00 X 0 0 0 DICK WOLF 1.00 X 0 0 0 DAVID ZASLAV 1.00 X 0 0 0 JEFF ZUCKER 1.00 X 0 0 0 JOHN J WOLTERS 40.00 X 282807 0 39802 JENNIFER JUZAITIS 40.00 X 202518 0 21568 CHRISTY CARPENTER 40.00 X 239943 0 -3897 DIANE LEWIS 40.00 X 246072 0 61253 SIMON LAZOWSKY 40.00 X 137508 0 37257 JAMES ROBINS 40.00 X 244154 0 51043 CRAIG HITCHCOCK 40.00 X 19995 0 -11825 DOUGLAS WARNER 40.00 X 131089 0 25391 DOUGLAS GIBBONS 40.00 X 119785 0 44147 ELLEN O'NEILL 40.00 X 116455 0 23269 ERIN GROMEN 40.00 X 114681 0 14145 JOEL TOPCIK 40.00 X 117716 0 0 2649658 0 339237 15 0 1 0 BANK OF AMERICA 100 NORTH TRYON STREET CHARLOTTE NC 28202 RENT 1002294 EMPIRE HEALTH CHOICE ASSURANCE ONE LIBERTY PLAZA NEW YORK NY 10006 HEALTH INSURANCE SERVICE 897717 QUALITY BUILDING SERVICE CORP 801 2ND AVENUE RM 1402 NEW YORK NY 10017 CLEANING & MAINTENANCE 671404 TED OLSON DBA OCD INC 13249 CHANDLER BLVD VAN NUYS CA 91401 GENERAL CONTRACTOR 372309 CONSOLIDATED EDISON COOPER STATION PO BOX 138 NEW YORK NY 102760138 ELECTRIC UTILITIES 357903 25 1718095 89744 8831488 740708 10639327 THEATER/GALLERY TICKET 711300 468655 468655 DIGITAL & DVD PROGRAM 711300 302929 302929 COLLECTION 711300 144970 144970 INDUSTRY PROGRAMS 711300 135075 135075 EDUCATIONAL PROGRAMS 711300 69174 69174 1120803 294710 294710 754866 0 754866 754866 115188 639678 1763002 1674651 88351 88351 88351 104335 1718095 452122 -347787 -347787 MISCELLANEOUS 900099 154667 154667 154667 12704937 817874 418117 829619 2282217 851745 1076926 353546 4542415 3417003 418651 706761 167217 115801 26695 24721 656228 441910 115700 98618 427518 269336 94054 64128 2106 2106 92000 92000 490189 275972 163647 50570 145816 69706 59514 16596 325195 208736 69246 47213 3724967 2431732 768951 524284 89901 56638 19778 13485 5708 3596 1256 856 2247457 1766938 285714 194805 252793 159260 55614 37919 EVENTS 1856645 1856645 PALEY FESTIVAL 476574 476574 REPAIRS AND MAINTENANCE 213733 134652 47021 32060 PRINTING AND PUBLICATIO 70314 44298 15469 10547 275568 156917 98949 19702 18344561 12737459 3411291 2195811 86858 5214 3764793 3836235 13665929 12919232 212848 255986 72299132 38587559 34584675 33711573 59630199 59612670 333938 299808 112279240 110640718 1714467 1749747 325640 754539 374084 632750 2414191 3137036 X 48313032 46085516 16221172 15387543 45330845 46030623 109865049 107503682 112279240 110640718 X -5639624 3278257 X 0 1 1 X 0 X 20128491 19877023 12174186 12370600 10639327 75189627 20128491 19877023 12174186 12370600 10639327 75189627 10372810 64816817 930591 770852 611988 408258 934388 3656077 31779 14655 1580 154667 202681 79048385 5119969 0.82000 0.81780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 264485 X X X X 0 61552017 2660144 3356407 6150402 61418166 70833682 673390 7701635 17656690 61552017 63970723 6806631 8896767 8840439 70833682 90455909 5037880 -15267585 16255481 63970723 0.74950 0.25050 1 0 12132590 12132590 31676421 16200672 15475749 12989979 12734494 255485 15500142 9652393 5847749 33711573 OTHER LONG TERM LIABILITIES 632750 632750 12704937 18344561 -5639624 -78153 3356410 3278257 -2361367 16723902 -78153 740708 3356410 4018965 12704937 0 12704937 19085269 740708 740708 18344561 0 18344561 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT FUNDS ARE FOR THE FINANCIAL SUPPORT AND THE THE PROMOTION OF THE ACTIVITIES OF THE PALEY CENTER FOR MEDIA. THIS INCLUDES THE EXPANSION OF THE COLLECTIONS HELD. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN FMV OF ENDOWMENT HELD BY WILLIAM S. PALEY FOUNDATION 2,998,120. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 358,287. ROUNDING 3. TOTAL TO SCHEDULE D, PART XI, LINE 8: 3,356,410. NY GALA 1477430 1386235 91195 197487 186756 LA GALA 345000 331860 13140 42250 25629 1822430 1718095 104335 239737 212385 452122 -347787 X 0 1 X X X 0 1 0 0 0 0 0 0 0 PAT MITCHELL 676935 0 0 0 0 0 9800 0 27284 0 714019 0 0 0 JOHN J WOLTERS 282807 0 0 0 0 0 9800 0 30002 0 322609 0 0 0 JENNIFER JUZAITIS 202518 0 0 0 0 0 8240 0 13328 0 224086 0 0 0 CHRISTY CARPENTER 239943 0 0 0 0 0 -5216 0 1319 0 236046 0 0 0 DIANE LEWIS 246072 0 0 0 0 0 19600 0 41653 0 307325 0 0 0 SIMON LAZOWSKY 137508 0 0 0 0 0 5979 0 31278 0 174765 0 0 0 JAMES ROBINS 244154 0 0 0 0 0 9800 0 41243 0 295197 0 0 0 DOUGLAS WARNER 131089 0 0 0 0 0 5700 0 19691 0 156480 0 0 0 DOUGLAS GIBBONS 119785 0 0 0 0 0 15380 0 28767 0 163932 0 0 0 PART I, LINE 1A 457 PLAN BARRY MEYER TRUSTEE 71050 BARRY MEYER HAS AND/OR HAD A BUSINESS RELATIONSHIP WITH CONTRIBUTOR TIME WARNERRENTAL AMOUNT - $5,000DVD RIGHTS - $66,050 0 PHILIPPE DAUMAN SUMNER REDSTONE TRUSTEES 11500 PHILIPPE DAUMAN AND SUMNER REDSTONE HAVE A BUSINESS RELATIONSHIP WITH CONTRIBUTOR VIACOM.RENTAL AMOUNT - $4,000DVD RIGHTS - $7,500 0 LES MOONVES SUMNER REDSTONE TRUSTEES 17675 LES MOONVES AND SUMNER REDSTONE HAVE A BUSINESS RELATIONSHIP WITH CONTRIBUTOR CBSRENTAL AMOUNT - $17,675 0 HOWARD STRINGER TRUSTEE 4800 HOWARD STRINGER HAS A BUSINESS RELATIONSHIP WITH CONTRIBUTOR SONY CORPORATION.RENTAL AMOUNT - $4,800 0 PATRICIA FILI-KRUSHEL JEFF ZUCKER TRUSTEES 17250 PATRICIA FILI-KRUSHEL AND JEFF ZUCKER HAVE AND/OR HAD BUSINESS RELATIONSHIPS WITH CONTRIBUTOR NBC UNIVERSAL.RENTAL AMOUNT - $17,250 0 JONATHAN MILLER TRUSTEE 25000 JONATHAN MILLER HAS A BUSINESS RELATIONSHIP WITH CONTRIBUTOR NEWSCORP FOXDVD RIGHTS - $25,000 0 GEOFFREY SANDS TRUSTEE 4080 GEOFFREY SANDS HAS A BUSINESS RELATIONSHIP WITH MCKINSEY & COMPANYRENTAL AMOUNT - $4,080 0 X PALEY FESTIVAL 9 500684 FMV X IC - LOS ANGELES 1 112007 FMV X LA AUCTION 1 65100 FMV X VARIOUS 11 62917 FMV 0 0 0 ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 THE PALEY CENTER FOR MEDIA IS THE PREMIER INSTITUTION DEDICATED TO ADVANCING THE UNDERSTANDING OF MEDIA-ITS ARTISTIC VALUE, SOCIAL IMPACT AND HISTORICAL IMPORTANCE-FOR THE PUBLIC AND MEDIA PROFESSIONALS. DESCRIPTION OF ORGANIZATION'S MISSION: FORM 990, PART III, LINE 1 THE PALEY CENTER FOR MEDIA IS THE PREMIER INSTITUTION DEDICATED TO ADVANCING THE UNDERSTANDING OF MEDIA - ITS ARTISTIC VALUE, SOCIAL IMPACT, AND HISTORICAL IMPORTANCE FOR THE PUBLIC AND MEDIA PROFESSIONALS. THE PALEY CENTER, WITH LOCATIONS IN NEW YORK AND LOS ANGELES, IS HOME TO THE NATION'S FOREMOST PUBLIC ARCHIVE OF TELEVISION AND RADIO PROGRAMMING, A COLLECTION OF MORE THAN 150,000 PROGRAMS COVERING ALMOST 100 YEARS OF TELEVISION AND RADIO HISTORY, INCLUDING NEWS, PUBLIC AFFAIRS PROGRAMS, DOCUMENTARIES, PERFORMING ARTS PROGRAMS, CHILDREN'S PROGRAMMING, SPORTS, COMEDY AND VARIETY SHOWS, AND COMMERCIAL ADVERTISING. DRAWING UPON THIS COLLECTION AND ITS UNPARALLELED CURATORIAL EXPERTISE, THE PALEY CENTER CONVENES THE PUBLIC, INDUSTRY PROFESSIONALS, THOUGHT LEADERS, AND THE CREATIVE COMMUNITY FOR A BROAD RANGE OF FORUMS - MORE THAN 100 A YEAR - THAT EXPLORE MEDIA'S PAST AND PRESENT AND ANTICIPATE ITS FUTURE. THE PALEY CENTER'S PUBLIC PROGRAMS EXAMINE AND CELEBRATE THE CREATIVITY, THE INNOVATIONS, THE PERSONALITIES, AND THE LEADERS WHO ARE SHAPING MEDIA. THROUGHOUT THE YEAR, THE PALEY CENTER HOSTS DISCUSSIONS WITH INFLUENTIAL NEWSMAKERS, JOURNALISTS, AND THOUGHT LEADERS ON TODAY'S IMPORTANT ISSUES, AS WELL AS CELEBRATING EXCELLENCE IN DRAMA, COMEDY, AND DOCUMENTARY FILM WITH A RANGE OF EVENTS THAT EXAMINE THE CREATIVE PROCESS BEHIND GREAT ENTERTAINMENT. ANNUAL PUBLIC PROGRAMMING HIGHLIGHTS INCLUDE THE POPULAR WILLIAM S. PALEY TELEVISION FESTIVAL HELD IN LOS ANGELES AND AN ANNUAL DOCUMENTARY FESTIVAL IN NEW YORK. EDUCATIONAL OUTREACH EFORTS, SUCH AS THE UNIVERSITY SEMINAR SERIES, BRING SELECT PALEY CENTER DISCUSSIONS INTO CLASSROOMS ACROSS THE COUNTRY USING THE INTERNET TO CONNECT WITH A NETWORK OF MORE THAN 600 SCHOOLS THROUGHOUT THE COUNTRY. THROUGH THE INDUSTRY PROGRAMS OF ITS MEDIA COUNCIL AND INTERNATIONAL COUNCIL, THE PALEY CENTER ALSO SERVES AS A NEUTRAL SETTING WHERE MEDIA PROFESSIONALS CAN ENGAGE IN DISCUSSION AND DEBATE ABOUT THE EVOLVING MEDIA LANDSCAPE. PUBLIC PROGRAMS: FORM 990, PART III, LINE 4A THROUGHOUT THE YEAR, THE PALEY CENTER PRESENTS LIVE EVENTS WITH THE OBJECTIVE TO BRING TOGETHER THE BRIGHTEST THINKERS AND MOST COMPELLING MEDIA PERSONALITIES - DISTINGUISHED PERFORMERS, WRITERS, PRODUCERS, EXECUTIVES, DIRECTORS, CRITICS, AND JOURNALISTS - TO EXPLORE THE GROWING IMPACT OF MEDIA ON OUR LIVES, CULTURE, AND SOCIETY BEFORE, AND WITH, A PUBLIC AUDIENCE. EACH 90 MINUTE SEMINAR TYPICALLY INCLUDES A MODERATED DISCUSSION WITH PANELISTS, SCREENING OF CLIPS FROM THE PALEY CENTER'S COLLECTION, AND A QUESTION-AND-ANSWER SESSION TO GIVE THE GENERAL PUBLIC THE OPPORTUNITY TO PARTICIPATE IN THE DIALOGUE. DURING 2011, THE PALEY CENTER SCHEDULED 134 PUBLIC EVENTS, INCLUDING EVENTS THAT WERE PART OF ITS ACCLAIMED WILLIAM S. PALEY TELEVISION FESTIVAL, A DOCUMENTARY FESTIVAL, AND THE ROBERT M. BATSCHA UNIVERSITY SEMINAR SERIES. COLLECTION: FORM 990, PART III, LINE 4B ON AN ONGOING BASIS, THE PALEY CENTER ENHANCES THE VALUE OF ITS UNIQUE COLLECTION BY ACQUIRING PROGRAMS CONSISTENT WITH OUR MISSION TO PRESERVE AND PRESENT THE MOST ACCLAIMED AND ARTISTICALLY ACCOMPLISHED TELEVISION, RADIO, AND NEW-MEDIA PROGRAMS AND COMMERCIALS, AS WELL AS THOSE DEEMED BY OUR CURATORIAL DEPARTMENT TO BE CULTURALLY, HISTORICALLY, AND/OR SOCIALLY IMPACTFUL. THROUGH SOURCES THAT INCLUDE NETWORKS, PRODUCTION COMPANIES, LOCAL STATIONS, AND PRIVATE INDIVIDUALS, THE COLLECTION CURRENTLY HOLDS OVER 150,000 PROGRAMS AND ADVERTISEMENTS, WITH WORKS FROM MORE THAN SEVENTY COUNTRIES CAPTURING CLOSE TO A CENTURY OF AMERICAN AND INTERNATIONAL CULTUREAL, POLITICAL, AND SOCIAL HISTORY. RECENT EFFORTS TO IMPLEMENT DIGITAL TECHNOLOGY AND DISTRIBUTION ARE ENABLING THE PALEY CENTER TO ENSURE THE CONTINUED PRESERVATION AND ACCESS OF THE COLLECTION, DEVELOP AND INSTALL A DIGITAL ASSET MANAGEMENT SYSTEM - THE MEANS THROUGH WHICH ONSITE VISITORS HAVE ACCESS TO OUR DIGITIZED COLLECTION, AND PROVIDE OFFSITE ACCESS TO THE COLLECTION THROUGH THE PALEY CENTER'S WEBSITE AND PARTNERSHIPS WITH OTHER EDUCATIONAL INSTITUTIONS. THE PALEY CENTER ACQUIRES ANNUALLY FOR ITS COLLECTION APPROXIMATELY 2,000 PROGRAMS, ENCOMPASSING TELEVISION, RADIO, COMMERCIALS, AND NOW NEW MEDIA AS WELL. ALSO IN 2011, THE PALEY CENTER SERVED OVER 20,000 VISITORS USING THE PALEY LIBRARIES TO ACCESS THE PALEY COLLECTION. INDUSTRY PROGRAMS: FORM 990, PART III, LINE 4C THROUGH THE INDUSTRY PROGRAMS OF ITS MEDIA COUNCIL AND INTERNATIONAL COUNCIL, AND ENCOMPASSING PRIVATE EVENTS AND PANEL DISCUSSIONS, THE PALEY CENTER SERVES AS A NEUTRAL SETTING WHERE MEDIA PROFESSIONALS CAN ENGAGE IN DISCUSSION AND DEBATE ABOUT THE EVOLVING MEDIA LANDSCAPE. THE PALEY CENTER'S MEDIA COUNCIL IS A MEMBERSHIP ORGANIZATION COMPOSED OF SENIOR-LEVEL EXECUTIVES THAT SERVES AS AN INTELLECTUAL CENTER FOR THE MEDIA INDUSTRY AND A FORUM FOR DISCUSSING MAJOR ISSUES FACING THE WORLD'S MEDIA, COMMUNICATIONS, AND TECHNOLOGY INDUSTRIES. SERVING THE GLOBAL MEDIA LANDSCAPE, THE PALEY CENTER'S INTERNATIONAL COUNCIL CONNECTS LEADING MEDIA EXECUTIVES, REPRESENTING EIGHTEEN COUNTRIES, WITH THEIR U.S. PEERS TO FOSTER PARTNERSHIPS AND SHARE INSIGHTS ON THE CHALLENGES AND OPPORTUNITIES IN THE INTERNATIONAL MEDIA MARKETPLACE, USUALLY MEETING TWICE PER YEAR. DURING 2011, THE PALEY CENTER HELD 26 MEDIA COUNCIL EVENTS, SERVING 1215 ATTENDEES. THE INTERNATIONAL COUNCIL CONVENED IN LOS ANGELES WITH A TOTAL OF 150 PARTICIPANTS. FORM 990, PART VI, SECTION B, LINE 11 THE PALEY CENTER FOR MEDIA FORM 990 WAS REVIEWED IN DETAIL BY THE ORGANIZATION'S CONTROLLER AND CFO PRIOR TO ITS ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. A COPY OF THE FORM 990 WILL BE PROVIDED TO EACH OF THE ORGANIZATION'S BOARD OF TRUSTEES MEMBERS IN ELECTRONIC FORMAT. FORM 990, PART VI, SECTION B, LINE 12C THE PALEY CENTER FOR MEDIA REQUIRES ALL BOARD OF TRUSTEE MEMBERS, KEY EMPLOYEES AND OFFICERS TO COMPLETE AN ANNULA CONFLICT OF INTEREST QUESTIONAIRE THAT IS DESIGNED TO UNCOVER POTENTIAL CONFLICTS WITH PALEY ITSELF AND BETWEEN BOARD OF TRUSTEE MEMBERS, KEY EMPLOYEES AND OFFICERS. THE QUESTIONAIRES ARE COMPILED, MONITORED AND REVIEWED INTERNALLY AND ANY POTENTIAL CONFLICTS ARE ADDRESSED AND RESOLVED IMMEDIATELY. FORM 990, PART VI, SECTION B, LINE 15A THE PALEY CENTER FOR MEDIA UNDERTAKES A THOROUGH AND COMPREHENSIVE PROCESS TO ENSURE THAT THE EXECUTIVE COMPENSATION IT PAYS TO ITS TOP MANAGEMENT OFFICIAL (CEO) IS REASONABLE. PALEY HAS AN EXECUTIVE AND COMPENSATION COMMITTEE IN PLACE TO DETERMINE THE CEO'S COMPENSATION, THE COMMITTEE IS PREDOMINANTLY COMPRISED OF INDEPENDENT PERSONS THAT HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION ARRANGEMENT. THE CEO IS A MEMBER OF THE EXECUTIVE COMMITTEE BUT SHE RECUSES HERSELF FROM ANY DISCUSSION AND/OR DECISIONS MADE REGARDING HER OWN COMPENSATION. THE COMMITTEE MAY UTILIZE IMPARTIAL SURVEYS OR OTHER DATA TO DETERMINE THE REASONABLENESS OF THE CEO'S COMPENSATION ONCE THE DETERMINATION HAS BEEN MADE, THE BOARD'S DECISION IS MEMORIALIZED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE PALEY CENTER FOR MEDIA FORM 990 WAS REVIEWED IN DETAIL BY THE ORGANIZATION'S CONTROLLER AND CFO PRIOR TO ITS ELECTRONIC FILING WITH THE INTERNAL REVENUE SERVICE. A COPY OF THE FORM 990 WILL BE PROVIDED TO EACH OF THE ORGANIZATION'S BOARD OF TRUSTEES MEMBERS IN EITHER A PAPER OR ELECTRONIC FORMAT. THE PALEY CENTER FOR MEDIA MAKES ITS FORM 990 AND FORM 1023 AVAILABLE TO THE PUBLIC BY RETAINING A COPY OF EACH AT THE ADDRESS LISTED ON PAGE 1 OF THIS RETURN. ANY INDIVIDUAL REQUESTING A COPY OF THESE DOCUMENTS IS PROVIDED THAT COPY ON THE SAME BUSINESS DAY. THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICTS OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND AT MANAGEMENT'S DISCRETION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -78,153. CHANGE IN FMV OF ENDOWMENT HELD BY WILLIAM S. PALEY FOUNDATION 2,998,120. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 358,287. ROUNDING 3. TOTAL TO FORM 990, PART XI, LINE 5: 3,278,257.