2024-08-13T14:41:38-05:00 2023-09-30 910189318 MOSS ADAMS LLP 6565 AMERICAS PARKWAY NE STE 600 ALBUQUERQUE NM 87110 990 2022-10-01 850131810 THE SANTA FE OPERA SANT 5059865955 PO BOX 2408 SANTA FE NM 87504 HEATHER KEMP CHIEF FINANCIAL OFFICER 5059865955 2024-08-12 1 1 PAMELA ALEXANDERSON P01218925 5058787200 2024-08-12 2022 2024-08-08 14:25:15Z LYNN LOACKER PO BOX 2408 SANTA FE NM 87504 48480008 0 X HTTPS://WWW.SANTAFEOPERA.ORG/ X 1957 NM TO FOSTER AND ENRICH AN UNDERSTANDING AND APPRECIATION OF THE OPERATIC ART FORM. 42 42 672 620 514291 54691 15628910 19280868 10913077 10311048 5733196 7131819 870302 574677 33145485 37298412 0 0 0 0 13205175 14196724 0 0 1771485 17979449 16770474 31184624 30967198 1960861 6331214 155877411 168375000 2832807 2501006 153044604 165873994 X TO FURTHER THE OPERATIC ART FORM BY PRESENTING ENSEMBLE PERFORMANCES OF THE HIGHEST QUALITY IN A VARIED REPERTOIRE OF NEW AS WELL AS RARELY PERFORMED AND STANDARD WORKS, TO ENSURE EXCELLENCE OF OPERA'S FUTURE THROUGH ITS APPRENTICE PROGRAMS FOR ARTISTS, TECHNICIANS AND ARTS ADMINISTRATORS, AND TO FOSTER AND ENRICH AN UNDERSTANDING AND APPRECIATION FOR OPERA IN THE COMMUNITY BY OUTREACH TO A DIVERSE PUBLIC. 0 0 21627826 10134099 ONE OF THE NATION'S MOST IMPORTANT SUMMER FESTIVALS, THE SANTA FE OPERA IS PRAISED FOR ITS INNOVATIVE REPERTORY AND HIGH STANDARDS OF EXCELLENCE. THERE WERE APPROXIMATELY 64,149 ATTENDEES OF THE 2023 SEASON. THE 2023 SEASON INCLUDED A TOTAL OF 38 PERFORMANCES OF FIVE FULLY STAGED OPERAS, INCLUDING: "TOSCA," COMPOSED BY GIACOMO PUCCINI WITH LIBRETTO BY LUIGI ILLICA AND GUIUSEPPE GIASCOSA; "THE FLYING DUTCHMAN" COMPOSED BY RICHARD WAGNER; "RUSALKA," COMPOSED BYANTONIN DVORAK WITH LIBRETTO BY JAROSLAV KVAPIL; "PELLEAS ET MELISANDE," COMPOSED BY CLAUDE DEBUSSY WITH LIBRETTO BY MAURICE MAETERLINCK; AND THE WORLD PREMIERE OF A REVISED ORCHESTRATION OF LORFEO" COMPOSED BY CLAUDIO MONTEVERDE WITH LIBRETTO BY ALLESSANDRO STRIGGIO THE YOUNGER, REVISED ORCHESTRATION BY NICO MUHLY. IN ADDITION, THERE WERE TWO PERFORMANCES OF APPRENTICE SCENES PERFORMED BY THE SANTA FE OPERA SINGING APPRENTICES AND DESIGNED AND CREATED BY THE SANTA FE OPERA TECHNICAL APPRENTICES. 1470803 71209 THE SANTA FE OPERA'S EDUCATION AND COMMUNITY ENGAGEMENT PROGRAMS COMPLETED A RETURN TO IN PERSON MODE WHILE MAINTAINING A VIRTUAL PRESENCE. DURING THE OPERA'S 2023 FISCAL YEAR, OVER 30,000 INDIVIDUALS WERE SERVED IN-PERSON AND VIRTUALLY, INCLUDING 22,100 ADULTS AND 4,200 YOUTHS IN PERSON. ADDITIONALLY, 620 VOLUNTEERS ENGAGED WITH THE OPERA BOTH ON SITE AND IN SURROUNDING COMMUNITIES CONTRIBUTING 11,938 VOLUNTEER HOURS. DURING THE FALL OF 2022, THE OPERA PRODUCEDTHE WORLD PREMIERE OF THE THIRD COMMISSION OF ITS OPERA FOR ALL VOICES PROGRAM, "THIS LITTLE LIGHT OF MINE", COMPOSED BY CHANDLER CARTER WITH LIBRETTO BY DIANA SOLOMON GLOVER. IN RECOGNITION OF THE 50TH ANNIVERSARY OF THE PUEBLO OPERA PROGRAM A DOCUMENTARY FILM ON THE HISTORY OF THE PROGRAM PREMIERED IN THE SUMMER OF 2023. ON-GOING DIGITAL PROGRAMMING INCLUDES THREE SEGMENTS OF A VIRTUAL BACKSTAGE TOUR AND THE OPERA INSIGHT SERIES. 23098629 1 1 0 1 0 0 0 0 0 1 1 1 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 374 0 1 672 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 42 42 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NM NY X X THE ORGANIZATION 5059865955 301 OPERA DRIVE SANTA FE NM 87506 SUSAN G MARINEAU CHAIRMAN 5.00 X X 0 0 0 FREDERICK R HAAS VICE CHAIRMAN 5.00 X X 0 0 0 JOHN M HAUPERT TREASURER 5.00 X X 0 0 0 ROBERT VLADEM FIRST VICE PRESIDENT 5.00 X X 0 0 0 SARAH BILLINGHURST SOLOMON VICE PRESIDENT 5.00 X X 0 0 0 EUGENE STARK JR VICE PRESIDENT 5.00 X X 0 0 0 DANNEHL TWOMEY VICE PRESIDENT (THRU 02/23) 5.00 X X 0 0 0 LYNN J LOACKER PRESIDENT 5.00 X X 0 0 0 BRUCE CHEMEL SECRETARY 5.00 X X 0 0 0 MEG BOULWARE DIRECTOR 1.00 X 0 0 0 JOSEPH M BRYAN JR DIRECTOR 1.00 X 0 0 0 J BRUCE BUGG JR DIRECTOR 1.00 X 0 0 0 SUSAN ESCO CHANDLER DIRECTOR 1.00 X 0 0 0 RICHARD H DAVIS DIRECTOR 1.00 X 0 0 0 EIVIND DJUPEDAL DIRECTOR 1.00 X 0 0 0 REBECCA J DUNCAN DIRECTOR 1.00 X 0 0 0 DAVID F ERTEL DIRECTOR 1.00 X 0 0 0 KRISTINA J FLANAGAN DIRECTOR (THROUGH 08/23) 1.00 X 0 0 0 A CHARLES FORTE DIRECTOR 1.00 X 0 0 0 PETER B FRANK DIRECTOR 1.00 X 0 0 0 EDWARD T GARCIA DIRECTOR 1.00 X 0 0 0 MARC GELLER DIRECTOR (THROUGH 09/22/23) 1.00 X 0 0 0 CHESTER A GOUGIS DIRECTOR 1.00 X 0 0 0 GUY L GRONQUIST DIRECTOR 1.00 X 0 0 0 DONNA HANKINSON DIRECTOR 1.00 X 0 0 0 KAREN HENDERSON DIRECTOR 1.00 X 0 0 0 MARITA HINDS DIRECTOR 1.00 X 0 0 0 DAVID HENRY JACOBS DIRECTOR (THROUGH 02/23) 1.00 X 0 0 0 DR WALTER L KIRCHNER DIRECTOR 1.00 X 0 0 0 MIRANDA Y LIND DIRECTOR 1.00 X 0 0 0 LIDDIE MARTINEZ DIRECTOR 1.00 X 0 0 0 CYNTHIA MCCREARY DIRECTOR 1.00 X 0 0 0 STEVE MENZIES DIRECTOR 1.00 X 0 0 0 CHARLES MOORE DIRECTOR (THROUGH 11/22) 1.00 X 0 0 0 LILLIAN MORRIS DIRECTOR 1.00 X 0 0 0 SUSAN MORRIS DIRECTOR 1.00 X 0 0 0 GLENN OSTERGAARD DIRECTOR 1.00 X 0 0 0 DOMINIC PASCHEL DIRECTOR 1.00 X 0 0 0 ESTEVAN RAEL-GALVEZ DIRECTOR 1.00 X 0 0 0 ROBERTA COOPER RAMO DIRECTOR 1.00 X 0 0 0 CAREY RAMOS DIRECTOR 1.00 X 0 0 0 JOHN RIZZO DIRECTOR (THROUGH 05/23) 1.00 X 0 0 0 MICHAEL ROBBINS DIRECTOR 1.00 X 0 0 0 BRUCE ROSS DIRECTOR 1.00 X 0 0 0 JAMES SEITZ JR DIRECTOR (THROUGH 07/23) 1.00 X 0 0 0 HARRIS SMITH DIRECTOR 1.00 X 0 0 0 IRWIN SUGARMAN DIRECTOR 1.00 X 0 0 0 T PETER TOWNSEND DIRECTOR 1.00 X 0 0 0 ROBERT TURNER DIRECTOR 1.00 X 0 0 0 ROBERT MEYA GENERAL DIRECTOR 40.00 X 535293 0 62270 HEATHER KEMP CHIEF FINANCIAL OFFICER 40.00 X 204374 0 40470 ALLISON SWENSON DIRECTOR OF DEVELOPMENT 40.00 X 179596 0 21902 HARRY BICKET MUSIC DIRECTOR 20.00 X 255000 0 0 MICHAEL GARY DIRECTOR OF INSTITUTIONAL GIVING 40.00 X 147093 0 15673 DAVID LOMELI CHIEF ARTISTIC OFFICER 40.00 X 197682 0 30770 CHRISTOPHER HUFNAGEL DIRECTOR OF OPERATIONS 40.00 X 133095 0 18584 CHELSEA DENNIS DIR. OF PRODUCTION (THRU 7/31/23) 40.00 X 129362 0 35545 1781495 0 225214 12 0 1 0 AXCES HEALTH LLC 531 HARLKLE RD SUITE B SANTA FE NM 87505 COVID TESTING 1072365 MASTERPIECE CUISINE 303 S WATER STREET SUITE 135 HENDERSON NV 89015 CATERING 430378 CPC NEUTEK 2800 PRINTERS WAY GRAND JUNCTION CO 81506 PRINTING/MAILING 278020 MICHAEL TRUJILLODBA MICHAEL'S VALET PO BOX 5413 SANTA FE NM 87502 TRANSPORTATION/PARKING 159656 MARK WIPF LLC 13232 SILVER PEAK PI NE ALBUQUERQUE NM 87111 NETWORK ADMIN 153464 11 493737 1484935 17302196 5576798 19280868 PERFORMANCE ADMISSIONS 711110 8918949 8918949 AUXILIARY OPERATIONS 711110 1392099 1209988 182111 10311048 4782531 4782531 602435 41909 536283 0 66152 41909 108061 108061 12402814 44876 10067630 30772 2335184 14104 2349288 2349288 205062 493737 234236 -29174 -29174 374101 312675 61426 76371 -14945 ADVERTISING REVENUE 513120 359654 278541 81113 SPONSORSHIP REVENUE 611710 68584 68584 6126 6126 434364 37298412 10205308 514291 7297945 X 1029582 209331 440102 380149 10932298 9164900 1401094 366304 238930 145325 80128 13477 1122987 862471 176466 84050 872927 696669 120351 55907 77628 77628 144763 144763 26980 26980 922329 922329 3710105 3458807 141323 109975 519234 510388 8584 262 946045 726517 87556 131972 421122 189869 181153 50100 4200 4200 1460038 1161808 297342 888 2647035 2505347 53095 88593 13440 5059 6671 1710 2445039 881602 1552269 11168 250289 250289 PRODUCTION CREATION/MAT 1595264 1595264 ENTERTAINMENT/CULTIVATI 1060566 629966 46839 383761 PRODUCT EXPENSE 199360 199360 OTHER SUPPLY EXPENSES 111225 95816 3352 12057 215812 55930 78770 81112 30967198 23098629 6097084 1771485 4324971 1762542 1465619 991742 12557721 9727206 518809 936221 135929 150829 1254399 1177910 84077877 41490000 44500843 42587877 69867976 89644759 20798744 20967515 83896 452400 344503 155877411 168375000 1457533 1222240 1240929 1177083 134345 101683 2832807 2501006 X 58965144 57002426 94079460 108871568 153044604 165873994 155877411 168375000 X 6331214 5685349 812827 X 0 1 X 1 1 1 X 16598307 20811936 15939303 15628910 19280868 88259324 16598307 20811936 15939303 15628910 19280868 88259324 10370778 77888546 2195944 1939048 2301848 3970464 5426875 15834179 188923 532 30812 55691 275958 184775 145543 87239 417557 104787018 39351797 0.74330 0.75690 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2020 AMOUNT: $ 184,775. 2021 AMOUNT: $ 145,543. 2022 AMOUNT: $ 87,239. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 26980 26980 29001317 29028297 1000000 250000 0 0 868502 1000000 1000000 1000000 3868502 5802753 13013 13013 22575 26980 75581 217126 250000 250000 250000 967126 1450689 FORM 990; SCHEDULE C, PART II-A, LINE 1 LEGISLATORS ARE ROUTINELY INVITED TO ALL COMMUNITY ENGAGEMENT PROGRAMS, SUCH AS THE OPERA FOR ALL VOICES PERFORMANCE DURING THE FALL OF 2022. LEGISLATORS WERE ALSO INVITED TO AN ARTS ADVOCACY NIGHT FEATURING A BUFFET DINNER AND TICKETS TO A DRESS REHEARSAL. THE OPERA RETAINED A LOBBYIST TO CONSULT ON LEGISLATIVE MATTERS OF CONCERN TO THE OPERA. 101962688 8611206 11742874 4873784 117442984 119024466 2223848 -16014559 3271067 101962688 74047477 33937163 13335911 2296085 119024466 63127283 7939123 3999588 1018517 74047477 61352828 3348321 1337118 2910984 63127283 0.09300 0.79100 0.11600 0 0 4048930 4048930 70279960 33945489 36334471 9748987 7544511 2204476 42587877 TIFF REAL ESTATE 49366 F AEW CORE PROPERTY TRUST INC FUND 11135574 F FIRST EAGLE DIRECT LENDING FUND V-B BLOCKED LP 4021589 F JP MORGAN IIF TAX-EXEMPT HEDGED LP 5760986 F 20967515 ANNUITIES PAYABLE 101683 101683 X 43783971 5685349 3907 1718632 7407888 36376083 922329 922329 37298412 30954581 3907 905805 909712 30044869 922329 922329 30967198 PART V, LINE 4: TO PRODUCE A RELATIVELY PREDICTABLE AND STABLE INCOME STREAM TO GROW AND TO SUPPORT PRESENT AND FUTURE PROGRAMS. PART X, LINE 2: THE OPERA HAS ADOPTED THE PROVISIONS OF ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE OPERA RECOGNIZES THE TAX (BENEFIT) EXPENSE FROM UNCERTAIN TAX POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAX AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. ANY SUCH TAX (BENEFIT) EXPENSE IS MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE OPERA HAD NO UNRECOGNIZED TAX BENEFITS AT SEPTEMBER 30, 2023 AND 2022. THE OPERA FILES AN EXEMPT ORGANIZATION RETURN WITH THE INTERNAL REVENUE SERVICE (IRS). IT IS NOT A "PRIVATE FOUNDATION" FOR TAX PURPOSES. THE OPERA HAD MINIMAL TAXABLE UNRELATED BUSINESS INCOME FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022. ACCORDINGLY, A PROVISION FOR INCOME TAXES HAS NOT BEEN ESTABLISHED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST 116,184. RENTAL EXPENSE 536,283. COST OF GOOD SOLD 312,675. SPECIAL EVENTS EXPENSES 56,847. EMPLOYEE RETENTION TAX CREDIT 696,643. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 312,675. RENTAL EXPENSE 536,283. SPECIAL EVENTS EXPENSES 56,847. SUMMER GALA 306152 277377 28775 50733 13940 WINTER GALA 155427 123872 31555 30164 12088 5 237220 92488 144732 96492 30819 698799 493737 205062 177389 26028 30819 234236 -29174 X X X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 ROBERT MEYA GENERAL DIRECTOR 495293 0 40000 0 0 0 31500 0 30770 0 597563 0 0 0 HARRY BICKET MUSIC DIRECTOR 255000 0 0 0 0 0 0 0 0 0 255000 0 0 0 HEATHER KEMP CHIEF FINANCIAL OFFICER 199374 0 5000 0 0 0 29860 0 10610 0 244844 0 0 0 DAVID LOMELI CHIEF ARTISTIC OFFICER 196682 0 1000 0 0 0 0 0 30770 0 228452 0 0 0 ALLISON SWENSON DIRECTOR OF DEVELOPMENT 174596 0 5000 0 0 0 21902 0 0 0 201498 0 0 0 CHELSEA DENNIS DIR. OF PRODUCTION (THRU 7/31/23) 124362 0 5000 0 0 0 4775 0 30770 0 164907 0 0 0 MICHAEL GARY DIRECTOR OF INSTITUTIONAL GIVING 145093 0 2000 0 0 0 5063 0 10610 0 162766 0 0 0 CHRISTOPHER HUFNAGEL DIRECTOR OF OPERATIONS 128095 0 5000 0 0 0 18584 0 0 0 151679 0 0 0 PART I, LINE 1A THE SANTA FE OPERA OWNS A RESIDENCE IMMEDIATELY ADJACENT TO THE OPERA'S FACILITIES. THE CLOSE PROXIMITY OF THE RESIDENCE AND THE GENERAL DIRECTOR LIVING THEREIN HAVE IMPORTANT BENEFITS FOR THE OPERA. THE GENERAL DIRECTOR IS THEREBY AVAILABLE ON SHORT NOTICE FOR IMPORTANT BUSINESS ON THE OPERA GROUNDS AS WELL AS IS ABLE TO ENTERTAIN AND MEET WITH THE OPERA'S GUESTS, ARTISTIC PARTNERS AND STAFF. THE GENERAL DIRECTOR, AS A CONDITION OF EMPLOYMENT, IS REQUIRED BY THE OPERA TO RESIDE IN THE GENERAL DIRECTOR'S RESIDENCE. THE SANTA FE OPERA REPORTS TO THE INTERNAL REVENUE SERVICE AS COMPENSATION TO THE GENERAL DIRECTOR ADDITIONAL TAXABLE INCOME FOR THE FAIR MARKET RENTAL VALUE AND UTILITY COSTS OF THE PREMISES. THE OPERA HAS AGREED TO REIMBURSE THE GENERAL DIRECTOR FOR ANY OUT-OF-POCKET COSTS INCURRED DURING THE USE OF THE GENERAL DIRECTOR'S RESIDENCE FOR OPERA BUSINESS. DETAILED RECORDS ARE REQUIRED TO BE MAINTAINED OF THE OPERA'S OFFICIAL USE OF THE RESIDENCE AND SUBMITTED TO THE PRESIDENT AND THE CHIEF FINANCIAL OFFICER. THE TAX INDEMNIFICATION AND GROSS UP PAYMENTS REPRESENT THE TAX PAID BY THE OPERA, AND INCLUDED IN ROBERT MEYA'S W-2, TO COVER THE TAX ON THE HOUSING ALLOWANCE. THE HOUSING IS VALUED AT $84,000, AND THE GROSS-UP IS VALUED AT $56,702. PART I, LINE 7 BONUS AMOUNTS WERE DETERMINED ON A DISCRETIONARY BASIS. THE COMPENSATION COMMITTEE DETERMINED THE BONUS FOR THE GENERAL DIRECTOR. X 43 5526065 AVG HI & LOW PRICE/SHARE X DONATED TICKETS 236 39075 FAIR MARKET VALUE X DONATED CATERING EXCLUDING SERVICES 2 11658 FAIR MARKET VALUE 0 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A ALL REGULAR MEMBERS OF THE BOARD (EXCLUDING HONORARY MEMBERS, DIRECTORS EMERITUS, AND EX-OFFICIO MEMBERS WHO HAVE NO VOTING RIGHTS) HAVE THE SAME VOTING RIGHTS. IN BETWEEN QUARTERLY BOARD MEETINGS, THE EXECUTIVE COMMITTEE OF THE BOARD IS VESTED WITH THE POWER OF THE BOARD OF DIRECTORS WITH THE FOLLOWING EXCEPTIONS: THE POWER TO DISSOLVE OR MERGE THE OPERA WITH ANOTHER ORGANIZATION, THE POWER TO CHANGE THE NAME OF THE OPERA, THE POWER TO CHANGE THE BYLAWS OF THE OPERA, THE POWER TO DELEGATE ITS AUTHORITY, THE POWER TO REMOVE THE GENERAL DIRECTOR OR ANY OTHER DIRECTOR, AND THE POWER TO SELL REAL PROPERTY VALUED OVER $2.5 MILLION. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS OF THE SANTA FE OPERA HAS ADOPTED A RESOLUTION APPROVING A PROCESS BY WHICH THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE FULL VERSION OF FORM 990, INCLUDING ALL SCHEDULES AS PREPARED BY AN OUTSIDE ACCOUNTING FIRM. AFTER REVIEW AND ANY MODIFICATION BY THE AUDIT COMMITTEE, FORM 990 IS FILED WITH THE IRS, AND THE PUBLIC DISCLOSURE VERSION OF FORM 990, EXCLUDING SCHEDULE B (SCHEDULE OF CONTRIBUTORS), IS POSTED TO THE PORTAL AVAILABLE TO ALL MEMBERS OF THE BOARD OF DIRECTORS. SCHEDULE B OF FORM 990 IS NOT REVIEWED BY THE FULL BOARD DUE TO THE CONFIDENTIAL AND PRIVATE NATURE OF ITS DONOR LIST. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF DIRECTORS OF THE SANTA FE OPERA ARE ASKED EACH YEAR TO SIGN CONFLICT OF INTEREST DISCLOSURE STATEMENTS AND TO SUBMIT THESE SIGNED STATEMENTS TO THE SECRETARY OF THE BOARD OF DIRECTORS. BY SIGNING THE ANNUAL DISCLOSURE STATEMENTS, EACH DIRECTOR UNDERTAKES TO NOTIFY THE PRESIDENT OF THE OPERA OF ANY MATERIAL CHANGES THAT MIGHT RESULT IN A CONFLICT OF INTEREST. THE PRESIDENT REVIEWS THE SIGNED DISCLOSURE STATEMENTS FOR CONFLICTS AND, WITH THE ASSISTANCE OF COMMITTEE CHAIRS, MONITORS COMPLIANCE WITH THE POLICY AT MEETINGS OF THE BOARD AND COMMITTEES CONSIDERING TRANSACTIONS OR ARRANGEMENTS THAT MIGHT GIVE RISE TO A CONFLICT OF INTEREST. THE SIGNED CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE MAINTAINED AT THE OFFICES OF THE SANTA FE OPERA. COMPLIANCE WITH THIS POLICY IS MONITORED BY THE AUDIT COMMITTEE. IF A CONFLICT ARISES, THE PERSON WITH SUCH CONFLICT IS NOT ALLOWED TO VOTE ON THE TRANSACTION. THERE HAVE BEEN NO INCIDENCES OF CONFLICT DURING THE REPORTING PERIOD. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS, COMPOSED OF THE PRESIDENT, CHAIRMAN, TREASURER AND TWO ADDITIONAL BOARD MEMBERS APPOINTED BY THE PRESIDENT, ALL OF WHOM ARE UNRELATED TO THE GENERAL DIRECTOR, REVIEWS AND APPROVES COMPENSATION AND OTHER TERMS OF EMPLOYMENT FOR THE GENERAL DIRECTOR. IN CONSIDERATING APPROPRIATE COMPENSATION FOR THIS POSITION, THE COMPENSATION COMMITTEE REVIEWS SALARY DATA FOR COMPARABLE POSITIONS AT SIMILAR OPERA COMPANIES. THE COMPENSATION COMMITTEE ALSO CONDUCTS ANNUAL REVIEWS OF THE PERFORMANCE OF THE GENERAL DIRECTOR. DURING FY22, THE OPERA RETAINED A CONSULTANT TO ANALYZE THE GENERAL DIRECTOR'S SALARY AND TO PROVIDE RECOMMENDATIONS REGARDING FUTURE LEVELS OF COMPENSATION. THE RECOMMENDATIONS WERE CONVEYED TO THE COMPENSATION COMMITTEE IN FY 23. MINUTES OF THE COMPENSATION COMMITTEE'S MEETINGS ARE RECORDED AND MAINTAINED AT THE OFFICES OF THE SANTA FE OPERA. COMPENSATION FOR THE CHIEF FINANCIAL OFFICER IS DETERMINED BY THE GENERAL DIRECTOR. THE GENERAL DIRECTOR TAKES JOB PERFORMANCE AND SALARY DATA FOR COMPARABLE POSITIONS AT OTHER OPERA COMPANIES INTO ACCOUNT WHEN SETTING THE ANNUAL SALARY FOR THE CHIEF FINANCIAL OFFICER. THE COMPENSATION COMMITTEE REVIEWS THE SALARIES FOR ALL MEMBERS OF THE LEADERSHIP TEAM, COMPARING THE SALARIES TO COMPENSATION FOR SIMILAR POSITIONS AT OTHER OPER COMPANIES. THIS PROCESS WAS LAST COMPLETED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS ARE MAINTAINED IN THE OFFICES OF THE SANTA FE OPERA. THEY ARE MADE AVAILABLE TO MEMBERS OF THE PUBLIC WHO MAKE WRITTEN REQUESTS FOR THE INFORMATION. FORM 990, PART IX, LINE 11G ARTIST FEES: PROGRAM SERVICE EXPENSES 1,998,038. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,998,038. COVID TESTING SERVICES: PROGRAM SERVICE EXPENSES 540,281. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 540,281. OTHER SERVICES: PROGRAM SERVICE EXPENSES 920,488. MANAGEMENT AND GENERAL EXPENSES 141,323. FUNDRAISING EXPENSES 109,975. TOTAL EXPENSES 1,171,786. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT 116,184. EMPLOYEE RETENTION TAX CREDIT 696,643. SIMULTEXT SYSTEMS LLC PO BOX 2408 SANTA FE NM 87504 LICENSING OF IP NM -17679 0 THE SANTA FE OPERA OPERA ASSOCIATION OF NEW MEXICO LLC PO BOX 2408 SANTA FE NM 87504 TO SECURE THE OPERA'S ORIGINAL NAME NM 0 0 THE SANTA FE OPERA