2011-06-14T13:37:14-05:00 2010-07-31 BURR PILGER MAYER INC 600 CALIFORNIA STREET SUITE 1300 SAN FRANCISCO CA 94108 990 2009-08-01 940836240 SAN FRANCISCO OPERA ASSOCIATION SANF 4155653295 301 VAN NESS AVENUE SAN FRANCISCO CA 94102 DAVID GOCKLEY 4155653295 2011-05-16 1 Maga Kisriev 4154215757 2009 2016-02-24 21:20:13Z DAVID GOCKLEY 301 VAN NESS AVENUE SAN FRANCISCO CA 94102 103144171 0 X WWW.SFOPERA.COM X 1932 CA THE WORLD-RENOWNED SAN FRANCISCO OPERA, CONSIDERED ONE OF THE MOST IMPORTANT (CONTINUED ON SCH O) OPERATIC ORGANIZATIONS IN THE UNITED STATES. GREAT SINGING, OUTSTANDING CONDUCTING AND PRODUCTIONS SENSITIVE TO THE MUSIC ARE CORE VALUES OF THE OPERA. THE OPERA PERPETUATES ITS LEGACY THROUGH THE TRAINING OF YOUNG ARTISTS, ARTS EDUCATION AND AUDIENCE DEVELOPMENT. 85 84 1034 690 -9200 -9200 44650262 49210837 25968272 20100847 1794391 1350633 104902 706019 72517827 71368336 0 0 49014290 46989902 502752 449495 4243243 17658824 16884039 67175866 64323436 5341961 7044900 185111033 205071283 26184204 28071374 158926829 176999909 SAN FRANCISCO OPERA'S MISSION IS 1) TO PRESENT OPERA PERFORMANCES OF THE HIGHEST INTERNATIONAL QUALITY AVAILABLE TO THE WIDEST POSSIBLE AUDIENCES; 2) TO PERPETUATE AND ENRICH THE OPERATIC ART FORM; 3) TO BE CREATIVE AND INNOVATIVE IN ALL ASPECTS OF OPERA; AND 4) TO TAKE A LEADERSHIP ROLE IN TRAINING, ARTS EDUCATION AND AUDIENCE DEVELOPMENT. CURRENT PROGRAMS INCLUDE COMMUNITY OUTREACH, TRAINING & PROFESSIONAL DEVELOPMENT OF YOUNG ARTISTS AND COMMUNITY EDUCATION. 0 0 42756586 18656120 PRODUCTION AND ARTISTIC - THE OPERA PRESENTED 63 PERFORMANCES OF 9 MAINSTAGE PRODUCTIONS OF THE HIGHEST ARTISTIC QUALITY TO MORE THAN 170,000 AUDIENCE MEMBERS DURING THE 2010 SEASON. ARTISTIC HIGHLIGHTS OF THE 87TH SEASON INCLUDED THE INAUGURAL SEASON OF NICOLA LUISOTTI AS THE NEW MUSIC DIRECTOR. LUISOTTI LAUNCHED THE SEASON WITH A GALA PERFORMANCE OF VERDI'S IL TROVATORE. FORMER MUSIC DIRECTOR, DONALD RUNNICLES, CONDUCTED WAGNER'S DIE WALKURE, THE SECOND INSTALLMENT OF THE RING OF THE NIBELUNG. RUNNICLES WILL CONDUCT THREE COMPLETE CYCLES OF THE RING IN SUMMER 2011. THE COMPANY'S MAINSTAGE PRODUCTIONS ALSO INCLUDED TRITTICO, ABDUCTION FROM THE SERAGLIO, DAUGHTER OF THE REGIMENT, SALOME, OTELLO, FAUST, AND GIRL OF THE GOLDEN WEST.OTHER CONCERTS INCLUDED FREE COMMUNITY CONCERTS AT THE STERN GROVE FESTIVAL AND GOLDEN GATE PARK'S SHARON MEADOW AS WELL AS THE ANNUAL OPERA CENTER ADLER FELLOW GALA CONCERT AND THREE OPERA CENTER SCHWABACHER DEBUT RECITALS. MUSIC DIRECTOR NICOLA LUISOTTI WILL LEAD A WONDERFUL LINEUP IN FALL 2010 INCLUDING AIDA, MADAMA BUTTERLY AND THE MARRIAGE OF FIGARO. PLACIDO DOMINGO WILL RETURN TO SING IN ONE OF HIS SIGNATURE ROLES, CYRANO DE BERGERAC. 3201816 82496 ELECTRONIC MEDIA - THE OBJECTIVE OF THIS INITIATIVE IS TO REACH A NEW AUDIENCE WITH DIGITAL CONTENT VIA RADIO BROADCASTS, SIMULCASTS, WEB VIDEOS, OPERAVISION AND A REGIONAL CINEMA SERIES. CLASSICAL RADIO STATION, KDFC, REBROADCASTS THE OPERA'S FULL SEASON TO AN AUDIENCE OF APPROXIMATELY 29,000 LISTENERS PER MONTH. WFMT REBROADCASTS RADIO PROGRAMS TO A NATIONAL AUDIENCE OF APPROXIMATELY 500,000.THE "OPERA AT THE BALLPARK" SIMULCAST AT AT&T PARK IN PARTNERSHIP WITH THE SAN FRANCISCO GIANTS FEATURED A FREE LIVE HD SIMULCAST OF GIUSEPPE VERDI'S IL TROVATORE WITH AN AUDIENCE OF APPROXIMATELY 25,000.WEB VIDEOS ARE INCLUDED ON THE OPERA'S WEBSITE WHICH INCLUDE OPERA EXCERPTS, INTERVIEWS AND OPERA TALKS.A REGIONAL CINEMA SERIES WAS INITIATED AND BROADENED DURING THE 2011 SEASON TO EIGHTEEN THEATERS AND PERFORMING ARTS VENUES DELIVERED ON BLU-RAY.OPERAVISION, OFFERED AT SELECT PERFORMANCES, AFFORDS BALCONY AUDIENCES A BETTER VIEW OF THE STAGE WITH USE OF SCREENS PROVIDING CLOSEUP AND MID-RANGE ENSEMBLE SHOTS IN HIGH DEFINITION VIDEO WITH SUPERTITLES. 1997920 1205361 OPERA CENTER (TRAINING AND PROFESSIONAL DEVELOPMENT) - THE OPERA SUPPORTS AN INTERNATIONALLY RECOGNIZED TRAINING AND PROFESSIONAL DEVELOPMENT PROGRAM, THE ADLER FELLOWSHIP PROGRAM. FOUNDED IN 1977 AS THE SAN FRANCISCO AFFILIATE ARTISTS OPERA PROGRAM, ADLER FELLOWSHIPS ARE PERFORMANCE-ORIENTED, TWO-YEAR RESIDENCES FOR YOUNG ARTISTS OF MAJOR OPERATIC POTENTIAL. ADLER FELLOWSHIPS OFFER UNIQUE OPPORTUNITIES TO YOUNG ARTISTS TO DEVELOP THEIR SKILLS AND GAIN PERFORMANCE EXPERIENCE UNDER THE AEGIS OF A MAJOR INTERNATIONAL OPERA COMPANY.THE ADLER'S ACTIVITIES INCLUDED AN ANNUAL ADLER FELLOWS CONCERT AND THREE SCHWABACHER DEBUT RECITALS.FORMER ADLER FELLOWS INCLUDE SOPRANOS PATRICIA RACETTE, RUTH ANN SWENSON, CAROL VANESS AND DEBORAH VOIGT; MEZZO SOPRANOS ZHENG CAO AND DOLORA ZAJICK; COUNTERTENOR BRIAN ASAWA; BARITONES EUGENE BRANCOVEANU, MARK DELAVAN, LUCAS MEACHEM AND DAVID OKERLUND; BASS BARITONES MONTE PEDERSON AND JOHN RELYEA. SOPRANO LEAH CROCETTO, A CURRENT ADLER FELLOW, WAS A 2010 WINNER OF THE METROPOLITAN OPERA NATIONAL COUNCIL AUDITIONS. THE OPERA'S EDUCATIONAL ACTIVITIES, INCLUDING THOSE BY THE GUILD, CONTINUE TO REACH MORE THAN 60,000 CHILDREN ANNUALLY. 47956322 1 1 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 1 1 0 0 0 0 1 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 1 269 0 1034 1 1 1 1 BD CJ CA EI GM UK 0 0 0 1 1 0 0 0 85 84 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AZ CA MA NY OR WA X MICHAEL SIMPSON 4155653295 301 VAN NESS AVENUE SAN FRANCISCO CA 941024509 GREER M ARTHUR 1.00 X 0 0 0 DAVID BALABANIAN 1.00 X 0 0 0 ANDREW J BALL 1.00 X 0 0 0 DAWN YATES BLACK 1.00 X 0 0 0 ATHENA TROXEL BLACKBURN 1.00 X 0 0 0 ROBERT BLANDING 1.00 X 0 0 0 MELISSA BOXER 1.00 X 0 0 0 JOHN M BRYAN 1.00 X 0 0 0 CAROL FRANC BUCK 1.00 X 0 0 0 JACK CALHOUN 1.00 X 0 0 0 ANNETTE CAMPBELL-WHITE 1.00 X 0 0 0 RONALD E CAPE PhD 1.00 X 0 0 0 JOHN CULLISON 1.00 X 0 0 0 MRS PETER W JAYNE DAVIS 1.00 X 0 0 0 MS IRA D DEARING 1.00 X 0 0 0 ROBERT D CORY 1.00 X 0 0 0 RAY DOLBY 1.00 X 0 0 0 CAROL PUCCI DOLL 1.00 X 0 0 0 ROBERT A ELLIS 1.00 X 0 0 0 DAVID M CHAMBERLAIN 1.00 X 0 0 0 CONCEPCION FEDERMAN 1.00 X 0 0 0 KRISTINA J FLANAGAN 1.00 X 0 0 0 LISA STEVENS GALLO 1.00 X 0 0 0 NICHOLAS M GRAVES 1.00 X 0 0 0 PETER F CARPETNER 1.00 X 0 0 0 MARIE T CARR 1.00 X 0 0 0 MICHAEL A HARRISON 1.00 X 0 0 0 JANE M HARTLEY 1.00 X 0 0 0 I CRAIG HENDERSON MD 1.00 X 0 0 0 JOHN HENDRICKSON 1.00 X 0 0 0 DOREEN WOO HO 1.00 X 0 0 0 BRUCE W HYMAN 1.00 X 0 0 0 J BURGESS JAMIESON 1.00 X 0 0 0 DOROTHY M JEFFRIES 1.00 X 0 0 0 PHILIP M JELLEY 1.00 X 0 0 0 MRS CHARLES B ANN JOHNSON 1.00 X 0 0 0 PETER R JOHNSON 1.00 X 0 0 0 MRS GORHAM B DIANA KNOWLES 1.00 X 0 0 0 NOELLE LECA 1.00 X 0 0 0 SYLVIA R LINDSEY 1.00 X 0 0 0 LORRY I LOKEY 1.00 X 0 0 0 WILLIAM J LOWENBERG 1.00 X 0 0 0 ANGUS A MACNAUGHTON 1.00 X 0 0 0 J PATTERSON MCBAINE 1.00 X 0 0 0 ANNE G MCWILLIAMS 1.00 X 0 0 0 LAWRENCE A KERN 1.00 X 0 0 0 NANCY S MUELLER 1.00 X 0 0 0 BEN NELSON 1.00 X 0 0 0 CAROL P NIE 1.00 X 0 0 0 J BOYCE NUTE 1.00 X 0 0 0 HIROMITSU OGAWA 1.00 X 0 0 0 HAROLD PARICHAN 1.00 X 0 0 0 GARY PINKUS 1.00 X 0 0 0 HARRIET MEYER QUARRE 1.00 X 0 0 0 BERNARD OSHER 1.00 X 0 0 0 RICHARD J RIGG 1.00 X 0 0 0 DIANE M RUBIN 1.00 X 0 0 0 CP RUSSELL 1.00 X 0 0 0 BILL RUSSELL-SHAPIRO 1.00 X 0 0 0 RUTH A SHORT 1.00 X 0 0 0 MRS GEORGE P CHARLOTTE SCHULTZ 1.00 X 0 0 0 LIP-BU TAN 1.00 X 0 0 0 MRS TAD DIANNE TAUBE 1.00 X 0 0 0 MRS DAVID T JOAN TRAITEL 1.00 X 0 0 0 SOO VENKATESAN 1.00 X 0 0 0 MRS MARSHALL I LONNA WAIS 1.00 X 0 0 0 JOHN R PITCAIRN 1.00 X 0 0 0 PATRICK WILKEN 1.00 X 0 0 0 MRS ALFRED S DIANNE WILSEY 1.00 X 0 0 0 MRS ROY L BARBARA WARD WONDER 1.00 X 0 0 0 S SHARIQ YOSUFZAI 1.00 X 0 0 0 REID W DENNIS 5.00 X X 0 0 0 PAUL CRANE DORFMAN 5.00 X X 0 0 0 LISA ERDBERG 5.00 X X 0 0 0 JOHN A GUNN 5.00 X X 0 0 0 GEORGE H HUME 5.00 X X 0 0 0 FRANKLIN P JOHNSON JR 5.00 X X 0 0 0 THOMAS A LARSEN 5.00 X X 0 0 0 KEVIN MCCABE 5.00 X X 0 0 0 STEVEN MENZIES 5.00 X X 0 0 0 KARL O MILLS 5.00 X X 0 0 0 VIVIAN M STEPHENSON 5.00 X X 0 0 0 DAVID GOCKLEY 60.00 X X 551331 0 31344 TERESA MEDEARIS 1.00 X 0 0 0 ROSEMARY MOORE 1.00 X 0 0 0 JACK SCHAFER 1.00 X 0 0 0 BARBARA A WOLFE 1.00 X 0 0 0 MICHAEL SIMPSON 60.00 X 197490 0 14195 MARCIA LAZER 60.00 X 159858 0 11743 DREW LANDMESSER 60.00 X 240830 0 16614 MARY A POWELL 60.00 X 196860 0 24255 MATTHEW SHILVOCK 60.00 X 152325 0 14157 KAY STERN 60.00 X 157111 0 51832 NICOLA LUISOTTI 60.00 X 338188 0 4034 JENNIFER LYNCH 60.00 X 152390 0 5459 DONALD RUNNICLES 60.00 X 326980 0 13026 MARK A URBAN 60.00 X 173613 0 37327 2646976 0 223986 51 0 1 0 DCM TELEMARKETING 45 MAIN STREET STE 816 BROOKLYN NY 11201 TELEMKT/TELEFUNDR 698310 INTERNATIONAL FREIGHT SERVICES INC 1610 ROLLINS ROAD BURLINGAME CA 94010 SHIPPING 465347 FIRST CLASS PLUS 1750 CESAR CHAVEZ STREET UNIT E SAN FRANCISCO CA 94124 MAILING CENTER 453539 SERVICE WEST INC 9201 SAN LEANDRO STREET OAKLAND CA 94603 MOVING & STORAGE 308033 BURR PILGER & MAYER LLP 600 CALIFORNIA STREET SUITE 1300 SAN FRANCISCO CA 94108 ACCOUNTING 264804 14 525168 774443 47911226 11812244 49210837 TICKET SALES 900099 18656120 18656120 SF OPERA CENTER 900099 1205361 1205361 OTHER PROGRAM REVENUE 900099 156870 156870 MEDIA AND EDUCATION 900099 82496 82496 20100847 1647773 -9200 1656973 47045 601801 93141 47045 508660 555705 508660 47045 31118784 31415924 -297140 -297140 -297140 69890 141677 -71787 -71787 188649 125093 63556 63556 PARKING FEES 812930 158545 158545 158545 71368336 20609507 -9200 1557192 1596844 545394 723699 327751 34145742 29517019 2824096 1804627 2445197 2402907 42290 6312639 5836478 313913 162248 2489480 2072246 265223 152011 235607 40742 81271 113594 229542 229542 449495 449495 478476 478476 1922964 171358 1686766 64840 1217669 34813 1182856 1611551 142479 1215765 253307 185906 185906 82277 82277 1871516 713651 1032153 125712 1417503 1321416 20052 76035 18794 905 17889 118271 118271 2215650 1448126 767524 370616 32553 338063 PRODUCTION MATERIALS 2891134 2790830 100304 0 MARKETING/PROMOTION 853872 48195 331219 474458 OTHER EXPENSES 614288 427682 105719 80887 STORAGE & MOVING 384809 327251 57558 0 BAD DEBT EXPENSE 163594 0 5316 158278 64323436 47956322 12123871 4243243 1510596 1139882 30360321 26868133 37011628 40070630 668305 432099 100869 96401 157581 156278 23675403 13080684 10916917 10594719 41626001 60487500 51890800 52286220 10868015 12939421 185111033 205071283 6463807 6100717 12619483 15131437 7100914 6839220 26184204 28071374 X -17256740 -12532126 38151691 47128582 138031878 142403453 158926829 176999909 185111033 205071283 X 0 1 1 X 0 X 61563366 71392470 59086793 44650262 49210837 285903728 61563366 71392470 59086793 44650262 49210837 285903728 74553980 211349748 2683862 3406768 3518140 3321534 2296619 15226923 11526 29933 41763 -9200 74022 301204673 120220588 0.70170 0.72220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 141105620 6085756 11942099 5805035 153328440 154781602 10111492 -16999580 6787894 141105620 0.01340 0.98660 0.00000 1 0 2114665 2114665 6010858 3944642 2066216 13722240 8562557 5159683 1827640 573485 1254155 10594719 LIMITED PARTNERSHIPS - EQUITIES 17085288 F LIMITED PARTNERSHIPS - BONDS 24532814 F LIMITED PARTNERSHIPS - REAL ESTATE 1833205 F LIMITED PARTNERSHIPS - INFLATION HEDGE 394337 F LIMITED PARTNERSHIPS - PRIVATE EQUITY 2081658 F LIMITED PARTNERSHIP - HEDGE FUNDS 5951862 F 250 Post Street 407056 C 52286220 DEFERRED PRODUCTION COSTS 6032567 ASSETS HELD IN CHARITABLE TRUSTS 5323244 ASSETS OF POOLED INCOME FUNDS 741127 RENTAL DEPOSITS 71000 CONSTRUCTION IN PROGRESS 771483 12939421 CAPITAL LEASE OBLIGATIONS - ST 57062 CAPITAL LEASE OBLIGATIONS - LT 138428 DEFERRED REVENUE - POOLED INCOME FUNDS 121780 SHORT TERM COMPENSATION AND OTHER 1141353 LONG TERM COMPENSATION AND OTHER 3205714 NOTE PAYABLE - ST 2174883 6839220 71368336 64323436 7044900 11324814 -296634 11028180 18073080 83766717 11324814 1140617 93141 12558572 71208145 478476 -318285 160191 71368336 65693637 1437249 411428 1848677 63844960 478476 478476 64323436 Part V, Line 4: Description of Intended Use of Endowment Funds: The endowment is comprised of several funds set aside for donor directed purposes including operations, opera house maintenance, tickets for underprivileged, new productions, student subscriptions, principal artists, education and other programs. Part XI, Line 8 - Other Adjustments: DONATED IN-KIND PROPERTIES: -296634. Part XII, Line 2d - Other Adjustments: RENTAL EXPENSE: 93141. Part XII, Line 4b - Other Adjustments: SPECIAL EVENT EXPENSE: -141678. INVENTORY SALES RETURNS, ALLOWANCE & COST: -176607. Part XIII, Line 2d - Other Adjustments: SPECIAL EVENT EXPENSE: 141678. RENTAL INCOME EXPENSE: 93142. INVENTORY SALES RETURN, ALLOWANCE & COST: 176608. Part X, Line 2: Income Tax Footnote: The Association is a not-for-profit organization pursuant to Internal Revenue Code Section 501(c)(3) and the California equivalent legislation and, accordingly, is exempt from federal and state income taxes on income related to its tax-exempt purpose. In July 2006, guidance was released for accounting for uncertainties in income taxes. This standard prescribes the minimum recognition threshold a tax position is required to meet before being recognized in the financial statements. This interpretation also provides guidance on the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. This standard also requires additional disclosure of the beginning and ending unrecognized tax benefits and details regarding the uncertainties that may cause the unrecognized benefits to increase or decrease within a twelve-month period. The Association adopted these provisions for the year ended July 31, 2010. The Association's policy for evaluating uncertain tax positions is a two step process. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more-likely-than-not that the position will be sustained upon audit, including resolution of related appeals or litigation processes, if any. The second step is to measure that tax benefit or liability as the largest amount that is more than 50% likely to be realized or incurred upon settlement. The Association has analyzed its tax positions and believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The Association's federal Exempt Organization Business Income Tax Returns (Form 990T) for 2007, 2008 and 2009 are subject to examination by the IRS, generally for three years after filing. BERMUDA PASSIVE INVESTMENT 53583 Canada PASSIVE INVESTMENT 507 Cayman Islands PASSIVE INVESTMENT 84574 United Kingdom PASSIVE INVESTMENT 18129 Germany PASSIVE INVESTMENT 18129 0 0 174922 Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: PER FUND MANAGEMENT STATEMENTS; FEES ARE NETTED AGAINST GAINS/LOSSES WHICH ARE IN TURN RECORDED IN THE SAN FRANCISCO OPERA ASSOCIATION'S FINANCIAL RECORDS. THE AMOUNTS RECORDED IN SCHEDULE F, PART I, 3(F) ARE PER APPLICABLE FUND MANAGEMENT LITERATURE REGARDING FEE PERCENTAGES AND APPROXIMATE. X X X X X X X 1 CAMPBELL & COMPANY ANNUAL GIV 0 10647026 142450 10504576 DCM ANNUAL GIV 0 923118 300895 622223 MARK HERNANDEZ ANNUAL GIV 0 75000 6150 68850 11645144 449495 11195649 AZ CA MA NY OR WA BRAVO GALA 116055 46165 69890 16722 53905 5350 65700 116055 46165 69890 16722 53905 5350 65700 141677 -71787 X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 DAVID GOCKLEY 363301 0 165750 0 22280 0 16333 0 15011 0 582675 0 0 0 MICHAEL SIMPSON 180990 0 0 0 16500 0 7210 0 6985 0 211685 0 0 0 MARCIA LAZER 143358 0 0 0 16500 0 6628 0 5115 0 171601 0 0 0 DREW LANDMESSER 240830 0 0 0 0 0 9506 0 7108 0 257444 0 0 0 MARY A POWELL 174860 0 0 0 22000 0 8580 0 15675 0 221115 0 0 0 MATTHEW SHILVOCK 152325 0 0 0 0 0 4667 0 9490 0 166482 0 0 0 KAY STERN 149160 0 0 0 7951 0 17960 0 33872 0 208943 0 0 0 NICOLA LUISOTTI 338188 0 0 0 0 0 0 0 4034 0 342222 0 0 0 JENNIFER LYNCH 135890 0 0 0 16500 0 4506 0 953 0 157849 0 0 0 DONALD RUNNICLES 326980 0 0 0 0 0 5600 0 7426 0 340006 0 0 0 MARK A URBAN 173613 0 0 0 0 0 12153 0 25174 0 210940 0 0 0 Part I, Line 4a Supplemental Information Part III David Gockley, Executive Director and CEO, receives compensation for a health and social club membership at an annual cost of $2,280. NICOLA LUISOTTI, MUSIC DIRECTOR AND PRINCIPAL CONDUCTOR, RECEIVES REIMBURSEMENT FOR TWO SPOUSAL TRANSATLANTIC AIR FARES PER YEAR. DURING 2009, ONE AIR FARE FOR HIS SPOUSE WAS REIMBURSED AT A COST OF $4,704. Mary Powell Key Employee 24777 Mary Powell has a family relationship with a company that provides floral services to the Opera. 0 X 176 11515613 FMV AT DATE OF GIFT X FOOD/BEVERAGES 11 70050 FMV AT DATE OF GIFT X COSTUME SUPP 2 65000 FMV AT DATE OF GIFT X transit displa 1 120000 FMV AT DATE OF GIFT X Misc 4 41582 FMV AT DATE OF GIFT 0 1 1 Third Party Use: Part I, Line 32b: DURING THE COURSE OF SOLICITATION (SEE SCHEDULE G), SECURITIES MAY BE DONATED RATHER THAN CASH CONTRIBUTIONS. Form 990, Part VI, Section A, line 2 THOMAS A. LARSEN, DIRECTOR, HAS A BUSINESS RELATIONSHIP WITH GEORGE HUME, DIRECTOR AND OFFICER. THOMAS A. LARSEN, DIRECTOR, HAS A BUSINESS RELATIONSHIP WITH JOHN GUNN, DIRECTOR AND CHAIRMAN. BILL RUSSELL-SHAPIRO, DIRECTOR, HAS A FAMILY RELATIONSHIP WITH C.P. RUSSELL, DIRECTOR. FRANKLIN P. JOHNSON, JR., DIRECTOR AND OFFICER, HAS A BUSINESS RELATIONSHIP WITH BILL RUSSELL-SHAPIRO, DIRECTOR. Form 990, Part VI, Section B, line 11 AS PART OF THE OPERA'S INTERNAL REVIEW PROCESS, THE FORM 990 IS PRESENTED TO THE OPERA'S AUDIT COMMITTEE FOR DISCUSSION AND COMMENT. PRIOR TO FILING, THE FORM IS SENT TO ALL BOARD DIRECTORS FOR THEIR REVIEW. ANY COMMENTS ARE REVIEWED BY MANAGEMENT. Form 990, Part VI, Section B, line 12c THE OPERA HAS A WRITTEN CONFLICT OF INTEREST POLICY. ALL OFFICERS, DIRECTORS AND KEY EMPLOYEES MUST COMPLY WITH THE POLICY AND ARE SENT ANNUALLY THE CONFLICT OF INTEREST POLICY AND A FORM TO DOCUMENT THEIR REVIEW. ANY CONFLICTS ARE REVIEWED AND RESOLVED PROMPTLY. Form 990, Part VI, Section B, line 15 THE OPERA HAS A WRITTEN COMPENSATION POLICY. THERE IS AN ANNUAL REVIEW OF THE COMPENSATION FOR OFFICERS AND KEY EMPLOYEES BY THE COMPENSATION COMMITTEE. THE COMMITTEE IS COMPOSED OF ENTIRELY INDEPENDENT INDIVIDUALS AND COMPARABILITY DATA IS USED TO EVALUATE THE APPROPRIATENESS OF THE COMPENSATION. Form 990, Part VI, Section C, line 19 GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND CURRENT ANNUAL FINANCIAL STATEMENTS ARE AVAILABLE ON THE GUIDESTAR, IRS WEBSITE, AND OPERA'S WEBSITE WHICH IS WWW.SFOPERA.COM. THEY ARE ALSO AVAILABLE UPON WRITTEN REQUEST. Form 990, Part XI, Line 2c: AUDIT COMMITTEE IS SET UP TO OVERSEE THE AUDIT & SELECTION OF INDEPENDENT ACCOUNTANTS. THE COMMITTEE HELD QUARTERLY MEETINGS WITH BOARD MEMBERS, OFFICERS OF THE OPERA, AND INDEPENDENT AUDITORS. Form 990, Part I, Line 6: Volunteers THE VOLUNTEERS INCLUDE 507 USHERS AND 183 GUILD VOLUNTEERS. FORM 8886 LINE 7B: GLOBAL FIXED INCOME INVESTMENT GRADE BRANDYWINE INVESTMENT TRUST (FEIN: 76-0822143) 1 OF 3 - THE PARTNERSHIP INVESTS IN FOREIGN FORWARD CONTRACTS, SECURITIES AND RELATED FINANCIAL INSTRUMENTS FOR ITS OWN ACCOUNT. AS PART OF SUCH ACTIVITY, THE PARTNERSHIP HOLDS NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES. THE REGULAR ACTIVITY AND PURPOSE OF THE PARTNERSHIP IS TO GENERATE A PRE-TAX ECONOMIC RATE OF RETURN. THE AMOUNT OF SUCH NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES INCREASE AND/OR DECREASE THROUGHOUT THE YEAR AT FREQUENT INTERVALS. THE PARTNERSHIP HAS FORWARD CURRENCY TRANSACTIONS WHERE LOSSES WERE CLAIMED UNDER IRC SECTION 165 THAT EXCEEDED THE RELEVANT $2 MILLION REPORTABLE THRESHOLD. THE LOSSES ARE CHARACTERIZED AS ORDINARY LOSSES UNDER IRC SECTION 988. THE ADJUSTED TAX BASIS OF NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES OBTAINED BY THE PARTNERSHIP ARE DETERMINED BY WAY OF CASH PAID AND GAINS AND LOSSES ON SUCH TRANSACTIONS ARE CHARACTERIZED AS ORDINARY UNDER IRC SECTION 988. THESE TRANSACTIONS ARE NOT PART OF A HEDGING STRATEGY OR STRADDLE TRANSACTION AND PRODUCED REAL ECONOMIC LOSSES. THE OPERA'S SHARE OF REPORTABLE LOSS TRANSACTIONS ARE: CURRENCY PAYABLE TRADE DATE 10/29/2008 USD 53,152. CURRENCY RECEIVABLE SETTLE DATE 01/22/2009 GBP 45,842. RECOGNIZED LOSS: $ 7,309. CURRENCY PAYABLE TRADE DATE 12/15/2008 USD 60,085. CURRENCY RECEIVABLE SETTLE DATE 03/06/2009 GBP 55,770. RECOGNIZED LOSS: $ 4,315. FORM 8886 LINE 7B: GLOBAL FIXED INCOME INVESTMENT GRADE BRANDYWINE INVESTMENT TRUST (FEIN: 76-0822143) 2 OF 3 - THE PARTNERSHIP INVESTS IN FOREIGN FORWARD CONTRACTS, SECURITIES AND RELATED FINANCIAL INSTRUMENTS FOR ITS OWN ACCOUNT. AS PART OF SUCH ACTIVITY, THE PARTNERSHIP HOLDS NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES. THE REGULAR ACTIVITY AND PURPOSE OF THE PARTNERSHIP IS TO GENERATE A PRE-TAX ECONOMIC RATE OF RETURN. THE AMOUNT OF SUCH NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES INCREASE AND/OR DECREASE THROUGHOUT THE YEAR AT FREQUENT INTERVALS. THE PARTNERSHIP HAS FORWARD CURRENCY TRANSACTIONS WHERE LOSSES WERE CLAIMED UNDER IRC SECTION 165 THAT EXCEEDED THE RELEVANT $2 MILLION REPORTABLE THRESHOLD. THE LOSSES ARE CHARACTERIZED AS ORDINARY LOSSES UNDER IRC SECTION 988. THE ADJUSTED TAX BASIS OF NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES OBTAINED BY THE PARTNERSHIP ARE DETERMINED BY WAY OF CASH PAID AND GAINS AND LOSSES ON SUCH TRANSACTIONS ARE CHARACTERIZED AS ORDINARY UNDER IRC SECTION 988. THESE TRANSACTIONS ARE NOT PART OF A HEDGING STRATEGY OR STRADDLE TRANSACTION AND PRODUCED REAL ECONOMIC LOSSES. THE OPERA'S SHARE OF REPORTABLE LOSS TRANSACTIONS ARE: CURRENCY PAYABLE TRADE DATE 10/29/2008 USD 186,031. CURRENCY RECEIVABLE SETTLE DATE 01/22/2009 GBP 160,449. RECOGNIZED LOSS: $ 25,582. CURRENCY PAYABLE TRADE DATE 12/15/2008 USD 210,297. CURRENCY RECEIVABLE SETTLE DATE 03/06/2009 GBP 195,196. RECOGNIZED LOSS: $ 15,101. FORM 8886 LINE 7B: GLOBAL FIXED INCOME INVESTMENT GRADE BRANDYWINE INVESTMENT TRUST (FEIN: 76-0822143) 3 OF 3 - THE PARTNERSHIP INVESTS IN FOREIGN FORWARD CONTRACTS, SECURITIES AND RELATED FINANCIAL INSTRUMENTS FOR ITS OWN ACCOUNT. AS PART OF SUCH ACTIVITY, THE PARTNERSHIP HOLDS NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES. THE REGULAR ACTIVITY AND PURPOSE OF THE PARTNERSHIP IS TO GENERATE A PRE-TAX ECONOMIC RATE OF RETURN. THE AMOUNT OF SUCH NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES INCREASE AND/OR DECREASE THROUGHOUT THE YEAR AT FREQUENT INTERVALS. THE PARTNERSHIP HAS FORWARD CURRENCY TRANSACTIONS WHERE LOSSES WERE CLAIMED UNDER IRC SECTION 165 THAT EXCEEDED THE RELEVANT $2 MILLION REPORTABLE THRESHOLD. THE LOSSES ARE CHARACTERIZED AS ORDINARY LOSSES UNDER IRC SECTION 988. THE ADJUSTED TAX BASIS OF NON-U.S. DOLLAR DENOMINATED ASSETS AND CURRENCIES OBTAINED BY THE PARTNERSHIP ARE DETERMINED BY WAY OF CASH PAID AND GAINS AND LOSSES ON SUCH TRANSACTIONS ARE CHARACTERIZED AS ORDINARY UNDER IRC SECTION 988. THESE TRANSACTIONS ARE NOT PART OF A HEDGING STRATEGY OR STRADDLE TRANSACTION AND PRODUCED REAL ECONOMIC LOSSES. THE OPERA'S SHARE OF REPORTABLE LOSS TRANSACTIONS ARE: CURRENCY PAYABLE TRADE DATE 10/29/2008 USD 14,235. CURRENCY RECEIVABLE SETTLE DATE 01/22/2009 GBP 12,278. RECOGNIZED LOSS: $ 1,958. CURRENCY PAYABLE TRADE DATE 12/15/2008 USD 16,093. CURRENCY RECEIVABLE SETTLE DATE 03/06/2009 GBP 14,937. RECOGNIZED LOSS: $ 1,156.