2011-11-14T16:52:25-06:00 2010-12-31 DELOITTE TAX LLP TWO WORLD FINANCIAL CENTER NEW YORK NY 10281 990 2010-01-01 132805582 THE PALEY CENTER FOR MEDIA PALE 2126216740 25 WEST 52 STREET NEW YORK NY 10019 JOHN J WOLTERS 2126216740 2011-11-14 1 2124362000 2010 2016-03-07 17:11:31Z PAT MITCHELL 25 WEST 52 STREET NEW YORK NY 10019 17848864 0 X WWW.PALEYCENTER.ORG X 1975 NY 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. 49 48 141 11 641368 -11804 12174186 12370600 868638 1266596 129064 128703 164547 135328 13336435 13901227 0 0 0 0 8438937 8334205 0 0 2149741 10147588 12407572 18586525 20741777 -5250090 -6840550 109574053 112279240 2072179 2414191 107501874 109865049 X SEE SCHEDULE O 0 0 9934457 483697 PUBLIC PROGRAMS: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 2010, THE PALEY CENTER SCHEDULED 146 PUBLIC EVENTS, INCLUDING THOSE THAT WERE PART OF ITS ACCLAIMED WILLIAM S. PALEY TELEVISION FESTIVAL, A DOCUMENTARY FESTIVAL, AND THE ROBERT M. BATSCHA UNIVERSITY SEMINAR SERIES (OF 8 SEMINARS WHICH WAS MADE AVAILABLE TO OUR UNIVERSITY NETWORK OF OVER 600 SCHOOLS. 1750387 133022 COLLECTION: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 WILL 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 2010, THE PALEY CENTER SERVED OVER 37,000 VISITORS USING THE PALEY LIBRARIES TO ACCESS THE PALEY COLLECTION. 1935462 118590 INDUSTRY PROGRAMS: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 TWENTY-TWO 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 2010, THE PALEY CENTER HELD 22 MEDIA COUNCIL EVENTS, SERVING 1025 ATTENDEES. THE INTERNATIONAL COUNCIL CONVENED IN MONTE CARLO AND IN NEW YORK CITY WITH A TOTAL OF 220 PARTICIPANTS. 1463505 531287 EDUCATION:IN 2010, THE UNIVERSITY SEMINAR SERIES WAS MADE AVAILABLE TO OUR UNIVERSITY NETWORK OF OVER 600 SCHOOLS. THE SEMINARS ARE AVAILABLE FOR VIEWING IN THEIR ENTIRETY TO PROFESSORS AND STUDENTS THROUGHOUT THE YEAR. IN 2010, 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 INITIATIVES AND MULTI-PART PROGRAMS - SERVED APPROXIMATELY 11,000 STUDENTS, TEACHERS, AND FAMILIES. THE DISTANCE LEARNING PROGRAM REACHED CLASSROOMS IN 15 STATES, AS WELL AS CANADA.DIGITAL AND DVD SALES OF SEMINARS AND PROGRAMS TO EDUCATE THE GENERAL PUBLIC. 1463505 531287 15083811 1 1 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 0 0 0 1 1 0 0 0 0 0 0 0 0 1 101 0 1 141 1 1 1 0 0 0 0 1 1 0 0 0 0 X 49 48 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 WALLIS ANNENBERG 1.00 X 0 0 0 LOREEN ARBUS 1.00 X 0 0 0 PETER CHERNIN 1.00 X 0 0 0 JOAN GANZ COONEY 1.00 X 0 0 0 BURT MANNING 1.00 X 0 0 0 BARRY M MEYER 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 IVAN SEIDENBERG 1.00 X 0 0 0 TERRY SEMEL 1.00 X 0 0 0 ROBERT FX SILLERMAN 1.00 X 0 0 0 PAT MITCHELL 40.00 X X 622334 0 44928 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 KAY KOPLOVITZ 1.00 X 0 0 0 SCOTT KURNIT 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 GEOFFREY K SANDS 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 DICK WOLF 1.00 X 0 0 0 DAVID ZASLAV 1.00 X 0 0 0 JEFF ZUCKER 1.00 X 0 0 0 GLENN BRITT 1.00 X 0 0 0 TED LEONSIS 1.00 X 0 0 0 TIM ARMSTRONG 1.00 X 0 0 0 CAROL BARTZ 1.00 X 0 0 0 KIM CATTRALL 1.00 X 0 0 0 TONY VINCIQUERRA 1.00 X 0 0 0 BLAIR WESTLAKE 1.00 X 0 0 0 JUDY HART ANGELO 1.00 X 0 0 0 NIKESH ARORA 1.00 X 0 0 0 JOHN J WOLTERS 40.00 X 279468 0 35894 CHRISTY CARPENTER 40.00 X 362029 0 31916 DIANE LEWIS 40.00 X 242156 0 56752 SIMON LAZOWSKY 40.00 X 136823 0 33520 JENNIFER JUZAITIS 40.00 X 198185 0 19589 JAMES ROBINS 40.00 X 240463 0 46316 CRAIG HITCHCOCK 40.00 X 169557 0 26519 DOUGLAS WARNER 40.00 X 135990 0 15569 DOUGLAS GIBBONS 40.00 X 117580 0 40830 ELLEN O'NEILL 40.00 X 115024 0 18200 AMY HANDLER 40.00 X 111032 0 5296 DAVID BUSHMAN 40.00 X 103004 0 4921 2833645 0 380250 13 0 1 0 BANK OF AMERICA 100 NORTH TRYON STREET CHARLOTTE NC 28202 CREDIT CARD SERVICE AND RENT 986983 BRAD LACHMAN PRODUCTIONS 4450 LAKESIDE DRIVE BURBANK CA 91505 PRODUCER 900000 EMPIRE HEALTH CHOICE ASSURANCE ONE LIBERTY PLAZA NEW YORK NY 10006 HEALTH INSURANCE SERVICE 858706 QUALITY BUILDING SERVICE CORP 801 2ND AVE RM 1402 NEW YORK NY 10017 CONTRACT/MAINTENANCE 807732 PLANET GRANDE PICTURES 20565 LITTLE ROCK WAY MALIBU CA 90265 TV SHOW PRODUCER 640000 20 1865141 2052031 81878 8371550 425620 12370600 THEATER/GALLERY TICKET 711300 602287 602287 DIGITAL & DVD PROGRAM 711300 488644 320480 168164 COLLECTION 711300 133022 133022 EDUCATIONAL PROGRAMS 711300 42643 42643 1266596 251334 251334 4877 4877 625251 625251 625251 473204 152047 3170636 3293267 -122631 -122631 -122631 157990 2052031 654370 -496380 -496380 MISCELLANEOUS 900099 1580 1580 1580 13901227 1098432 641368 -209173 2546449 907309 1206354 432786 4624531 3545222 443683 635626 168834 124776 20254 23804 509992 356667 79889 73436 484399 300327 111412 72660 21441 21441 71330 71330 134048 52134 81914 157655 73054 66927 17674 312803 204011 65848 42944 3624603 2247254 833659 543690 83369 51689 19175 12505 8553 5303 1967 1283 2481468 1969157 310083 202228 254780 157964 58599 38217 TELEVISION SPECIALS 2047560 2047560 EVENTS 1875521 1875521 PALEY FESTIVAL 869565 869565 REPAIRS AND MAINTENANCE 202797 125734 46643 30420 OTHER EXPENSES 172257 80742 69047 22468 89822 89822 20741777 15083811 3508225 2149741 3479 86858 495719 3764793 17610086 13665929 448847 212848 71165808 36581133 36412562 34584675 54150444 59630199 452916 333938 109574053 112279240 1320807 1714467 751372 325640 0 374084 2072179 2414191 X 36668192 48313032 17077156 16221172 53756526 45330845 107501874 109865049 109574053 112279240 X -6840550 9203725 X 0 1 1 X 0 X 20122398 20128491 19877023 12174186 12370600 84672698 20122398 20128491 19877023 12174186 12370600 84672698 12474224 72198474 836133 930591 770852 611988 408258 3557822 31779 14655 1580 48014 88278534 5057709 0.81780 0.84270 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 333938 X X X X 0 70833682 673390 7701635 17656690 61552017 63970723 6806631 8896767 8840439 70833682 90455909 5037880 -15267585 16255481 63970723 0.26350 0.73650 1 0 12132590 12132590 31676421 15408403 16268018 12726403 12726403 0 14630394 8446327 6184067 34584675 OTHER LONG TERM LIABILITIES 374084 374084 13901227 20741777 -6840550 1823765 7379960 9203725 2363175 23262327 1823765 157375 7379960 9361100 13901227 0 13901227 20899152 157375 157375 20741777 0 20741777 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. NY GALA 1565755 1448265 117490 149381 317481 LA GALA 644266 603766 40500 82608 104900 2210021 2052031 157990 231989 422381 654370 -496380 X 0 1 X X X 0 1 0 0 0 0 0 0 0 PAT MITCHELL 622334 0 0 0 0 0 9800 0 35128 0 667262 0 0 0 JOHN J WOLTERS 279468 0 0 0 0 0 9800 0 26094 0 315362 0 0 0 CHRISTY CARPENTER 362029 0 0 0 0 0 17367 0 14549 0 393945 0 0 0 DIANE LEWIS 242156 0 0 0 0 0 19600 0 37152 0 298908 0 0 0 SIMON LAZOWSKY 136823 0 0 0 0 0 5879 0 27641 0 170343 0 0 0 JENNIFER JUZAITIS 198185 0 0 0 0 0 8040 0 11549 0 217774 0 0 0 JAMES ROBINS 240463 0 0 0 0 0 9800 0 36516 0 286779 0 0 0 CRAIG HITCHCOCK 169557 0 0 0 0 0 3500 0 23019 0 196076 0 0 0 DOUGLAS WARNER 135990 0 0 0 0 0 5600 0 9969 0 151559 0 0 0 DOUGLAS GIBBONS 117580 0 0 0 0 0 15022 0 25808 0 158410 0 0 0 SUPPLEMENTAL INFORMATION PART III 457 PLAN SCHEDULE J, LINE 1A X EVENT DONATIONS 7 41876 FMV X GALA DONATIONS 1 28016 FMV X FESTIVAL DONATIONS 8 314728 FMV X TRAVEL VOUCHERS 3 16101 FMV X HIRSCHFELD PRINTS 1 36500 FMV 0 0 0 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 IN 49 STATES. 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. 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 EITHER A PAPER OR 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 GAINS ON INVESTMENTS: 1,823,765. CHANGE IN FMV OF ENDOWMENT HELD BY WILLIAM S. PALEY FOUNDATION 6,331,615. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 1,048,345. TOTAL TO FORM 990, PART XI, LINE 5: 9,203,725.