2024-04-30T02:26:10-05:00 2023-07-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2022-08-01 261447714 GRAMMY MUSEUM FOUNDATION INC GRAM 2137656800 800 WEST OLYMPIC BOULEVARD A245 LOS ANGELES CA 90015 MICHAEL STICKA PRESIDENT / CEO 2137656800 2024-04-29 1 MICHAEL STICKA 999009999 0 JESSICA KARANTONIS P00969387 7144367100 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MICHAEL STICKA 800 WEST OLYMPIC BOULEVARD A245 LOS ANGELES CA 90015 19194181 0 X WWW.GRAMMYMUSEUM.ORG X 2007 CA THE GRAMMY MUSEUM CELEBRATES AND EXPLORES MUSIC FROM YESTERDAY AND TODAY TO INSPIRE THE MUSIC OF TOMORROW. 22 22 59 24 0 0 11523207 8380556 2204823 3640484 124620 -17658 1223118 2065684 15075768 14069066 390000 138840 0 0 6158919 6059336 0 0 1533750 8330994 10284250 14879913 16482426 195855 -2413360 17463845 31062726 7911901 23584562 9551944 7478164 X THE GRAMMY MUSEUM IS A NONPROFIT ORGANIZATION DEDICATED TO CELEBRATING AND EXPLORING MUSIC FROM YESTERDAY AND TODAY TO INSPIRE THE MUSIC OF TOMORROW THROUGH EXHIBITS, EDUCATION, GRANTS, PRESERVATION INITIATIVES, AND PUBLIC PROGRAMMING. PAYING TRIBUTE TO OUR COLLECTIVE MUSICAL HERITAGE, THE MUSEUM VALUES AND CELEBRATES THE DYNAMIC CONNECTION IN PEOPLE'S DIVERSE BACKGROUNDS, TELLING THE STORIES THAT INSPIRE US, AND CREATIVE EXPRESSION THAT LEADS CHANGE IN OUR INDUSTRY. 0 0 7993608 1403048 GENERAL ADMISSIONS: MAINTAINING AND OPERATING THE GRAMMY MUSEUM TO PROVIDE A ONE-OF-A-KIND EXPERIENCE FOR THE PUBLIC THAT PROMOTES THE CREATIVE PROCESS, THE HISTORY OF MUSIC AND THE GRAMMY AWARDS, AS WELL AS CULTURAL UNDERSTANDING. 409283 501433 CURATORIAL SERVICES: SERVICES PROVIDED ON SETTING UP AND MAINTAINING TRAVELING EXHIBITS, WHICH WERE CONSTRUCTED FOR THE GRAMMY MUSEUM DURING THE YEAR OR A PRIOR PERIOD, AND THEN TRANSPORTED TO AND SET-UP TEMPORARILY IN ANOTHER MUSEUM-TYPE LOCATION. SERVICES ALSO PROVIDED IN ASSISTING THIRD PARTIES IN PROMOTING MUSIC EDUCATION AND DEVELOPMENT OUTSIDE THE GRAMMY MUSEUM'S LOCATION IN LOS ANGELES, CALIFORNIA. 3795355 138840 2293517 PUBLIC PROGRAMS AND EDUCATION: THE GRAMMY MUSEUM HOSTS A WIDE RANGE OF PUBLIC PROGRAMS IN THE MUSEUM'S SOUND STAGE THEATRE AND THROUGHOUT THE LA LIVE CAMPUS, WHERE THE GRAMMY MUSEUM IS LOCATED AS WELL AS VIRTUAL PROGRAMS. PROGRAMS INCLUDE ARTISTS INTERVIEWS, LIVE PERFORMANCES, FILM SERIES, LECTURES, ARTIST-IN-RESIDENCE PROGRAMS, CONTINUING EDUCATION CLASSES, TOWN HALL MEETINGS, SPECIAL CONCERT SERIES, RECORD LABEL SHOWCASES, AND CURATORIAL-RELATED PROGRAMS. ALL PROGRAMS ARE RECORDED FOR ARCHIVAL PURPOSES TO SHARE WITH THE PUBLIC. THE GOAL OF THE GRAMMY MUSEUM'S EDUCATION PROGRAM IS TO EDUCATE AND INSPIRE, THROUGH EXPOSURE TO ALL MUSIC AND THE CREATIVE PROCESS, ALL VISITORS BUT MOST SPECIFICALLY SCHOOL GROUPS AND FAMILIES. THE PROGRAMS INCLUDE TEACHER WORKSHOPS, MUSEUM TOURS, SEMINARS, SYMPOSIA, MASTER MUSIC CLASSES, MENTORING PROGRAMS, MUSIC FORUMS, SCHOOL OUTREACH AND MUSICAL DEMONSTRATIONS, CAMPS, AND SATURDAY FAMILY PROGRAMS. 12198246 1 1 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 1 128 0 1 59 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 CA X HILARY FAHLSING 3105818624 800 WEST OLYMPIC BOULEVARD SUITE LOS ANGELES CA 90015 JOHN BURK VICE CHAIR 0.20 0.00 X X 0 0 0 MICHAL KATZ TREASURER / SECRETARY 0.20 0.00 X X 0 0 0 TIM BUCHER CHAIR 0.20 0.00 X X 0 0 0 ANDRA LIEMANDT BOARD MEMBER 0.20 0.00 X 0 0 0 BRANDEN CHAPMAN BOARD MEMBER 0.20 0.00 X 0 0 0 BRENDA ROBINSON BOARD MEMBER 0.20 0.00 X 0 0 0 BRIAN HOESTEREY BOARD MEMBER 0.20 0.00 X 0 0 0 DAN BECKERMAN BOARD MEMBER 0.20 0.00 X 0 0 0 DAVID WEBSTER BOARD MEMBER 0.20 0.00 X 0 0 0 DAVID WU BOARD MEMBER 0.20 0.00 X 0 0 0 GISELLE FERNANDEZ BOARD MEMBER (THRU 7/31/23) 0.20 0.00 X 0 0 0 HARVEY MASON JR BOARD MEMBER 0.20 0.00 X 0 0 0 JAMES JIMMY JAM HARRIS BOARD MEMBER 0.20 0.00 X 0 0 0 JON HARRIS BOARD MEMBER 0.20 0.00 X 0 0 0 KEN EHRLICH BOARD MEMBER 0.20 0.00 X 0 0 0 LINDA DUNCOMBE BOARD MEMBER 0.20 0.00 X 0 0 0 MATTIE MCFADDEN-LAWSON BOARD MEMBER 0.20 0.00 X 0 0 0 PAMELA ALEXANDER BOARD MEMBER 0.20 0.00 X 0 0 0 RAY SILVA BOARD MEMBER 0.20 0.00 X 0 0 0 TAMMY HURT BOARD MEMBER 0.20 0.00 X 0 0 0 TODD GOLDSTEIN BOARD MEMBER 0.20 0.00 X 0 0 0 TRACI BLACKWELL BOARD MEMBER (THRU 2/8/23) 0.20 0.00 X 0 0 0 WELLINGTON CHEN BOARD MEMBER (FROM 8/1/22) 0.20 0.00 X 0 0 0 MICHAEL STICKA PRESIDENT / CEO 40.00 0.00 X 424402 0 23753 HILARY FAHLSING VP, FINANCE, ADMINISTRATION & OPERATIONS 40.00 0.00 X 207932 0 53922 RITA GEORGE CHIEF PROGRAMS OFFICER 40.00 0.00 X 257271 0 26861 DAVID SEARS EXEC. EDUCATION DIR. (THRU 9/30/22) 40.00 0.00 X 222294 0 20626 LYNNE OKIN VP, PUBLIC PROGRAMS & ARTIST RELATIONS 40.00 0.00 X 204083 0 26453 JASEN EMMONS CHIEF CURATOR & VP, CURATORIAL AFFAIRS 40.00 0.00 X 198454 0 28284 ASHLEY STAGG DIRECTOR OF DIGITAL MEDIA 40.00 0.00 X 151556 0 41663 NICHOLAS VEGA DIR. OF EXHIBITIONS (THRU 10/21/22) 40.00 0.00 X 162522 0 4848 1828514 0 226410 15 0 1 0 0 188847 492284 7699425 453864 8380556 EDUCATION REVENUE 900099 1574318 1574318 GENERAL ADMISSIONS 900099 845534 845534 PUBLIC PROGRAMS 900099 719199 719199 CURATORIAL SERVICES 900099 501433 501433 3640484 154285 154285 2063341 555171 1508170 1508170 1508170 4175747 4347690 -171943 -171943 -171943 444074 222254 221820 221820 OTHER INCOME 900099 335694 335694 335694 14069066 4197998 0 1490512 94840 94840 44000 44000 2086550 1362282 724268 2923578 2155940 348716 418922 753633 593533 75009 85091 295575 218965 46713 29897 12274 12274 122559 122559 1354321 1069450 209845 75026 369970 361928 8042 428118 303220 25436 99462 2862578 2393562 469016 333973 233104 77620 23249 49555 49555 1162055 877910 283629 516 189457 96500 92957 REPAIR & MAINTENANCE 966266 904990 60239 1037 SPONSORSHIP FULFILLMENT 352707 352707 EVENT & CATERING EXPENS 318263 232169 8723 77371 AFFILIATE TICKETS 306600 8500 40600 257500 1455554 1247353 103271 104930 16482426 12198246 2750430 1533750 1675433 1919957 1677530 1605618 1045704 774943 54423 64331 140515 73654 23767906 19408724 5479324 4359182 3479019 2703845 3911897 19561196 17463845 31062726 546432 700665 787190 501018 2560269 6578279 19822610 7911901 23584562 X 3469492 2182795 6082452 5295369 9551944 7478164 17463845 31062726 -2413360 252343 87237 0 X 0 1 X 1 0 X 9870921 10034649 7244045 11523207 8380556 47053378 9870921 10034649 7244045 11523207 8380556 47053378 20778403 26274975 768269 568736 271737 1255780 2217626 5082148 286687 182108 156734 159673 335694 1120896 53256422 19697562 0.49340 0.47520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4335747 X X 0 3642777 187843 600000 30227 3200393 4439178 -423183 350000 23218 3642777 5211136 756711 1496000 32669 4439178 5624170 167608 540001 40641 5211136 5770725 156618 260820 42353 5624170 1.00000 0 0 13506512 10169654 3336858 7467501 6715252 752249 2793893 2523818 270075 4359182 MEMORABILIA 4335747 OPERATING LEASE RIGHT-OF-USE ASSET 15225449 19561196 AFFILIATE AND RELATED-PARTY PAYABLES 51 ACCRUED LIABILITIES 1004791 OPERATING LEASE RIGHT-OF-USE LIABILITY 17817768 LINE OF CREDIT 1000000 19822610 X 15186071 252343 87237 777425 1117005 14069066 0 14069066 17259851 777425 777425 16482426 0 16482426 PART III, LINE 1A: ALL MEMORABILIA AND EXHIBITS ARE PRESENTED ON THE BALANCE SHEET. PART III, LINE 4: THE GRAMMY MUSEUM BOASTS FOUR FLOORS OF EXHIBIT SPACE THAT OFFER VISITORS ONE-OF-A-KIND EXPERIENCE THROUGH CONTENT-RICH INTERACTIVES, FILMS, OVERSIZE IMAGERY, ARTIFACTS, THE GRAMMY ARCHIVES AND HALL OF FAME. THE MUSEUM ALSO HAS A SOUND STAGE/THEATRE WHERE IT OFFERS OPPORTUNITIES FOR VISITORS TO MEET MUSIC ARTISTS FROM A BROAD RANGE OF GENRES AND ERAS. THE VISITORS WILL ALSO HAVE AN OPPORTUNITY TO LEARN ABOUT THE ART AND TECHNOLOGY OF THE RECORDING PROCESS THROUGH AN ARRAY OF EXHIBITS AND INTERACTIVE EXPERIENCES. THE MUSEUM ALSO HAS SPECIAL EXHIBITS THAT FEATURE CERTAIN ARTISTS SUCH AS THE BEATLES, FRANK SINATRA, BOB MARLEY, JOHN LEE HOOKER AND LEONARD BERNSTEIN. PART V, LINE 4: INVESTMENT FUND SET UP BY FOUNDATION IN WHICH REGULAR WITHDRAWALS FROM THE INVESTED CAPITAL ARE TO BE USED FOR ONGOING OPERATIONS AND OTHER SPECIFIED PURPOSES AS DETERMINED BY THE MUSEUM. PART X, LINE 2: THE MUSEUM IS INCORPORATED AS A NONPROFIT PUBLIC CHARITY PURSUANT TO INTERNAL REVENUE CODE SECTION 501(C)(3) AND CORRESPONDING STATE PROVISIONS. THE MUSEUM IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE MUSEUM ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES. FASB ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW AN ENTITY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE ENTITY HAS TAKEN, OR EXPECTS TO TAKE, ON A TAX RETURN. DURING THE YEARS ENDED JULY 31, 2023 AND 2022, THE MUSEUM DID NOT RECORD ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 555,171. COST OF GOODS SOLD 222,254. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 555,171. COST OF GOODS SOLD 222,254. 1 DESOTO HIGH SCHOOL CHOIR BOOSTER 445 E FM 1382 STE 325 CEDAR TX 75104 461065649 501(C)(3) 10000 0 MUSIC EDUCATION - GENERAL USE UNIVERSITY OF FLORIDA BOARD OF TRUSTEES 1523 UNION RD RM 207 GAINESVILLE FL 32611 596002052 GOVERNMENT ENTITY 9840 0 SCIENTIFIC RESEARCH GRANT AVPA FOUNDATION - CULVER CITY HIGH SCHOOL PO BOX 3530 CULVER CITY CA 90231 203270837 501(C)(3) 7500 0 MUSIC EDUCATION - GENERAL USE BASSETT HIGH SCHOOL 755 ARDILLA AVE LA PUENTE CA 91746 952161438 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE BLAIR HIGH SCHOOL 1201 S MARENGO AVE PASADENA CA 91106 956002372 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE BURBANK HIGH SCHOOL 1900 W OLIVE AVE BURBANK CA 91506 956000418 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE GLENDALE HIGH SCHOOL 1440 E BROADWAY BLVD GLENDALE CA 91205 950775453 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE HUNTINGTON PARK HIGH SCHOOL 6020 MILES AVE HUNTINGTON PARK CA 90255 956001648 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE JOHN MARSHALL HIGH SCHOOL 428 N ORCHARD DR BURBANK CA 91506 956001908 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE ROBERT FULTON COLLEGE 7477 KESTER AVE VAN NUYS CA 91406 956001908 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE MANUAL ARTS HIGH SCHOOL 4131 SVERMONT AVE LOS ANGELES CA 90037 956001908 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE NORWALK HIGH SCHOOL 11356 LEFFINGWELL RD NORWALK CA 90650 956002228 GOVERNMENT ENTITY 7500 0 MUSIC EDUCATION - GENERAL USE 12 0 MUSIC EDUCATOR AWARD 25 26500 QUINN COLEMAN MEMORIAL SCHOLARSHIP 5 17500 PART I, LINE 2: AT THE COMPLETION OF THE PROJECT, GRANT RECIPIENTS ARE REQUIRED TO PROVIDE A FINAL NARRATIVE REPORT DETAILING THE PROJECT AND ITS RESULTS AS WELL AS A FINAL BUDGET SHOWING ACTUAL FIGURES AND INDICATING HOW THE MUSEUM'S FUNDS WERE ALLOCATED. X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 MICHAEL STICKA PRESIDENT / CEO 368643 0 49219 0 6540 0 10250 0 13503 0 448155 0 0 0 RITA GEORGE CHIEF PROGRAMS OFFICER 251279 0 1750 0 4242 0 13480 0 13381 0 284132 0 0 0 HILARY FAHLSING VP, FINANCE, ADMINISTRATION & OPERAT 202769 0 1750 0 3413 0 10244 0 43678 0 261854 0 0 0 DAVID SEARS EXEC. EDUCATION DIR. (THRU 9/30/22) 218797 0 0 0 3497 0 10910 0 9716 0 242920 0 0 0 LYNNE OKIN VP, PUBLIC PROGRAMS & ARTIST RELATIO 201351 0 1750 0 982 0 13500 0 12953 0 230536 0 0 0 JASEN EMMONS CHIEF CURATOR & VP, CURATORIAL AFFAI 194899 0 1750 0 1805 0 4189 0 24095 0 226738 0 0 0 ASHLEY STAGG DIRECTOR OF DIGITAL MEDIA 150271 0 1000 0 285 0 4742 0 36921 0 193219 0 0 0 NICHOLAS VEGA DIR. OF EXHIBITIONS (THRU 10/21/22) 162272 0 0 0 250 0 2838 0 2010 0 167370 0 0 0 PART I, LINE 1A GRAMMY MUSEUM FOUNDATION HAS A WRITTEN POLICY REGARDING FIRST-CLASS TRAVEL. THE TRAVEL POLICY STATES THAT THE MOST COST EFFECTIVE OPTIONS AVAILABLE BASED ON THE TRAVELER'S REQUESTED ITINERARY SHOULD BE MADE. THE PRESIDENT MAY BE PERMITTED FIRST-CLASS TRAVEL IF AUTHORIZED BY THE BOARD. THE PRESIDENT IS REQUIRED TO TRAVEL EXTENSIVELY ON MUSEUM BUSINESS, AND PROVIDING FOR FIRST-CLASS TRAVEL IS CONSIDERED A REASONABLE ACCOMMODATION. IT IS NOT TREATED AS TAXABLE COMPENSATION. PART I, LINE 7 CERTAIN EMPLOYEES WERE EACH COMPENSATED WITH CRITERIA BONUSES BASED UPON SPECIFIC PERFORMANCE GOALS ESTABLISHED AND APPROVED BY THE EMPLOYEE AND THEIR DIRECT SUPERVISOR. IN ADDITION, CERTAIN EMPLOYEES WERE EACH COMPENSATED WITH DISCRETIONARY BONUSES SUBJECT TO THE DISCRETION OF THEIR DIRECT SUPERVISOR. NATIONAL ACADEMY OF RECORDING ARTS AND SCIENCES FOUNDER OPERATING EXPENSES X 2560269 2560269 0 1 1 2560269 NATIONAL ACADEMY OF RECORDING ARTS AND SCIENCES FOUNDER 783315 PERFORMANCE OF GENERAL AND ADMINISTRATIVE SERVICES 0 SCH L, PART II NARAS PROVIDES CERTAIN GENERAL AND ADMINISTRATIVE SERVICES TO THE MUSEUM. OPERATING EXPENSES CHARGED TO THE MUSEUM BY NARAS INCLUDE ITEMS, SUCH AS SHARED SALARY EXPENSES, INSURANCE, TAXES AND LICENSES, REPAIR AND MAINTENANCE, SUPPLIES, COMPUTER EXPENSES, AND OTHER IT COSTS. THE EXPENSES ARE ALLOCATED ON THE BASIS OF SQUARE FOOTAGE, NUMBER OF COMPUTERS USED, HEADCOUNT, OR OTHER SUITABLE METHODOLOGIES, WHERE APPROPRIATE. AS OF FISCAL YEAR ENDED JULY 31, 2023, THE OUTSTANDING BALANCE OWED TO NARAS WAS $2,560,269. X 59 423850 OTHER X AUCTION ITEMS 7 16093 COST OR SELLING PRIC X MUSICAL EQUIPMENT 3 10600 COST OR SELLING PRIC X BEVERAGES 2 3321 COST OR SELLING PRIC 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 HARVEY MASON JR., AN OFFICER OF THE RECORDING ACADEMY, AND TAMMY HURT, TRUSTEE OF THE RECORDING ACADEMY, HAVE AN EMPLOYMENT RELATIONSHIP WITH BRANDEN CHAPMAN, WHO WAS AN EMPLOYEE OF THE RECORDING ACADEMY DURING THE TAX YEAR. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE FORM 990 IS PREPARED, IT IS SUBMITTED TO THE AUDIT COMMITTEE FOR REVIEW. THE BOARD HAS DESIGNATED THE AUDIT COMMITTEE TO REVIEW AND APPROVE THE FILING OF THE TAX RETURN ON ITS BEHALF. AFTER ALL COMMENTS AND QUESTIONS FROM THE AUDIT COMMITTEE HAVE BEEN ADDRESSED AND INCORPORATED, THE AUDIT COMMITTEE APPROVES THE FILING WITH THE IRS. THE FULL BOARD ALSO RECEIVES A COPY OF THE TAX RETURN BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH POWERS DELEGATED BY THE BOARD OF DIRECTORS NEEDS TO SIGN A STATEMENT UPON HIRING OR APPOINTMENT AFFIRMING THAT HE/SHE 1) HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, 2) HAS READ AND UNDERSTANDS THE POLICY, 3) HAS AGREED TO COMPLY WITH THE POLICY, AND 4) UNDERSTANDS THAT THE MUSEUM IS A NON-PROFIT ORGANIZATION AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION STATUS, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. PERIODIC REVIEWS ARE CONDUCTED BY THE HUMAN RESOURCES DEPARTMENT FOR EMPLOYEES TO ENSURE COMPLIANCE WITH THE POLICY. COPIES OF THESE FORMS ARE MAINTAINED BY HUMAN RESOURCES IN PERSONNEL FILES. ANNUALLY, THE CORPORATE SECRETARY DISTRIBUTES THE ANNUAL DISCLOSURE STATEMENT AT A BOARD MEETING. THE STATEMENTS ARE COLLECTED BY THE CORPORATE SECRETARY AND THEN A SUMMARY REPORT IS GIVEN TO THE CHAIR OF THE NOMINATING & GOVERNING COMMITTEE. ACCORDINGLY, THE CHAIR OF THE NOMINATING & GOVERNING COMMITTEE IS RESPONSIBLE FOR BOTH MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY BASED ON THE STATEMENTS THAT ARE PROVIDED. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS OVERSEES THE MUSEUM'S COMPENSATION AND BENEFIT PLANS AND PRACTICES, INCLUDING ITS EXECUTIVE COMPENSATION PLAN. THE COMPENSATION COMMITTEE IS COMPRISED OF THE EXECUTIVE COMMITTEE OF THE BOARD. ANNUALLY THE COMMITTEE REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION, INCLUDING BENEFITS. THE COMMITTEE CONSIDERS ALL FACTORS DEEMED RELEVANT IN DETERMINING THE PRESIDENT'S COMPENSATION, INCLUDING, BUT NOT LIMITED TO, REVIEWING AND COMPARING COMPENSATION OF OTHER NON-PROFIT MUSEUM DIRECTORS IN THE GENERAL AREA. FORM 990, PART VI, SECTION C, LINE 19 THE MUSEUM'S FORM 990, AUDITED FINANCIAL STATEMENTS, ARTICLES, BYLAWS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. ADDITIONALLY, THE MUSEUM FILES ITS FORM 990 WITH THE CALIFORNIA ATTORNEY GENERAL AND ROUTINELY UPDATES ITS INFORMATION ON THIRD-PARTY PLATFORMS SUCH AS GUIDESTAR, CHARITY NAVIGATOR AND SMU DATAARTS. TANGIBLE PROPERTY ELECTIONS SECTION 1.263(A)-1(F) DE MINIMIS SAFE HARBOR ELECTION TAXPAYER IS MAKING THE DE MINIMIS SAFE HARBOR ELECTION UNDER TREAS. REG. 1.263(A)-1(F) FOR ALL ELIGIBLE AMOUNTS PAID OR INCURRED DURING THE TAXABLE YEAR. SECTION 1.263(A)-3(N) CAPITALIZATION ELECTION TAXPAYER HEREBY ELECTS TO CAPITALIZE REPAIR AND MAINTENANCE COSTS UNDER TREAS. REG. 1.263(A)-3(N). THE COSTS WERE INCURRED DURING THE TAXABLE YEAR IN THE ELECTING TAXPAYER'S TRADE OR BUSINESS AND THE ELECTING TAXPAYER TREATS SUCH COSTS AS CAPITAL EXPENDITURES ON ITS BOOKS AND RECORDS.