2025-06-16T03:44:18-05:00 2024-07-31 861065772 DELOITTE TAX LLP 695 TOWN CENTER DRIVE SUITE 1000 COSTA MESA CA 92626 990 2023-08-01 956052058 NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES INC NATI 3103923777 3030 OLYMPIC BOULEVARD SANTA MONICA CA 904045073 WAYNE ZAHNER CHIEF FINANCIAL OFFICER 3103923777 2025-06-13 1 0 JESSICA KARANTONIS P00969387 7144367100 2023 2025-03-06 01:10:19Z RECORDING ACADEMY HARVEY MASON JR 3030 OLYMPIC BOULEVARD SANTA MONICA CA 904045073 114028995 0 X WWW.GRAMMY.COM X 1987 DE OUR MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING AND TO FOSTER CREATIVE LEADERSHIP. 42 40 215 500 366545 0 1543791 1891094 82778296 94005923 3228652 6500664 3313897 4679639 90864636 107077320 6734242 6397581 0 0 28345075 31211225 0 0 0 67920107 84150221 102999424 121759027 -12134788 -14681707 121343871 129610534 32315015 48869443 89028856 80741091 X OUR MISSION IS TO ADVANCE THE ARTS AND SCIENCES OF RECORDING AND TO FOSTER CREATIVE LEADERSHIP FOR ARTISTIC, CULTURAL, EDUCATIONAL, AND TECHNICAL PROGRESS IN THE RECORDING FIELD. A PRIMARY ACTIVITY OF THE RECORDING ACADEMY IS THE RECOGNITION OF OUTSTANDING CREATIVE AND TECHNICAL ACHIEVEMENTS IN THE RECORDING ARTS OF THOSE DEEMED TO BE MOST WORTHY BY THEIR PEERS THROUGH THE ANNUAL PRESENTATION OF THE GRAMMY AWARDS. 0 0 THE RECORDING ACADEMY PRODUCES THE GRAMMY AWARDS, THE ONLY PEER-PRESENTED AWARD TO HONOR ARTISTIC ACHIEVEMENT, TECHNICAL PROFICIENCY, AND EXCELLENCE IN THE RECORDING INDUSTRY, WITHOUT REGARD TO ALBUM SALES OR CHART POSITION. 0 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 1 0 0 0 1 1 1 1 0 1 X 304 0 1 215 1 1 1 0 0 0 1 1 0 1 0 X 42 40 1 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 0 0 CA IL NY X X WAYNE J ZAHNER 3103923777 3030 OLYMPIC BOULEVARD SANTA MONICA CA 904045073 X ALEX CHAVEZ TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 ANDREW JOSLYN TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 ANGELIQUE KIDJO TRUSTEE 1.00 0.00 X 0 0 0 ANNA FRICK AT-LARGE TRUSTEE 1.00 0.00 X 0 0 0 ASHLEY SHABANKAREH AT-LARGE TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 CHECHE ALARA AT-LARGE TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 CHRISTINE ALBERT CHAIR EMERITUS 5.00 0.00 X 0 0 0 CHUCK AINLAY TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 DANI DEAHL TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 DAVE GROSS TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 DONN THOMPSON MORELLI DONN T AT-LARGE TRUSTEE 1.00 0.00 X 0 0 0 DOUGLAS EMERY TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 DR CHELSEY GREEN VICE CHAIR 5.00 0.00 X 0 0 0 ERIC LILAVOIS TRUSTEE 1.00 0.00 X 0 0 0 ERIK GAINES TRUSTEE 1.00 0.00 X 0 0 0 EVAN BOGART TRUSTEE 1.00 0.00 X 0 0 0 FALU SHAH TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 FLETCHER FOSTER TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 GEBRE WADDELL SECRETARY/TREASURER 5.00 0.00 X 0 0 0 J IVY TRUSTEE 1.00 0.00 X 0 0 0 JENNIFER BLAKEMAN AT-LARGE TRUSTEE 1.00 0.00 X 0 0 0 JENNIFER HANSON TRUSTEE 1.00 0.00 X 0 0 0 JESSICA THOMPSON TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 JOHN LEGEND TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 JONATHAN YIP AT-LARGE TRUSTEE 1.00 0.00 X 0 0 0 JORDAN HAMLIN AT-LARGE TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 JULIO BAGUE TRUSTEE 1.00 0.00 X 0 0 0 JUSTIN HENNY HENDERSON TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 KAT GRAHAM AT-LARGE TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 KEN SHEPHERD TRUSTEE 1.00 0.00 X 0 0 0 KENNARD GARRETT TRUSTEE 1.00 0.00 X 0 0 0 LARRY BATISTE TRUSTEE 1.00 0.00 X 0 0 0 LEDISI TRUSTEE 1.00 0.00 X 0 0 0 MARCELLA ARAICA AT-LARGE TRUSTEE 1.00 0.00 X 0 0 0 MARCUS BAYLOR TRUSTEE 1.00 0.00 X 0 0 0 MARIA EGAN AT-LARGE TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 MEKA NISM TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 MICHAEL ROMANOWSKI TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 MIKE KNOBLOCH TRUSTEE 1.00 0.00 X 0 0 0 NABIL AYERS TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 NATALIA RAMIREZ AT-LARGE TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 NIKISHA BAILEY TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 PAUL WALL TRUSTEE 1.00 0.00 X 0 0 0 PJ MORTON AT-LARGE TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 RIGGS MORALES TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 SARA GAZAREK TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 SUSAN MARSHALL TRUSTEE 1.00 0.00 X 0 0 0 TAMARA WELLONS TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 TAMMY HURT CHAIR 20.00 0.00 X 0 0 0 TAYLOR HANSON TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 TERRY JONES TRUSTEE 1.00 0.00 X 0 0 0 THOM TK KIDD TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 TORAE CARR TRUSTEE (FROM 6/1/24) 1.00 0.00 X 0 0 0 TRACY GERSHON TRUSTEE 1.00 0.00 X 0 0 0 VON VARGAS TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 WAYNA WONDWOSSEN TRUSTEE 1.00 0.00 X 0 0 0 YOLANDA ADAMS TRUSTEE (TO 5/31/24) 1.00 0.00 X 0 0 0 HARVEY MASON JR CHIEF EXECUTIVE OFFICER 40.00 1.00 X 1286777 0 16996 WAYNE J ZAHNER CHIEF FINANCIAL OFFICER 40.00 1.00 X 449249 0 31203 BRANDEN CHAPMAN CHIEF OPERATING OFFICER 40.00 1.00 X 544144 0 34018 PANOS A PANAY PRESIDENT 40.00 0.00 X 513688 0 37337 RUBY MARCHAND CHIEF AWARDS & INDUSTRY OFFICER 40.00 0.00 X 473167 0 42829 ADAM ROTH SVP, PARTNERSHIPS & BUSINESS DEVELOPMENT 40.00 0.00 X 379633 0 24466 DAVID GREGORY CHIEF INFORMATION OFFICER 40.00 0.00 X 353741 0 42355 JENNIFER JONES EVP, LEGAL AFFAIRS 40.00 0.00 X 332968 0 43668 SHONDA GRANT CHIEF PEOPLE & CULTURE OFFICER 40.00 0.00 X 324543 0 47738 TODD DUPLER CHIEF ADVOCACY & PUBLIC POLICY OFFICER 40.00 0.00 X 319703 0 43274 4977613 0 363884 81 0 1 0 FULWELL 73 UK LIMITED 7A BAYHAM STREET LONDON GREATER LONDON UK NW1 0EY EVENT PRODUCTION 20689538 YOUNG BULL PRODUCTIONS INC 333 N GLENOAKS BLVD 510 BURBANK CA 91502 EVENT PRODUCTION 5625000 TENTH PLANET PRODUCTIONS INC 12400 WILSHIRE BLVD LOS ANGELES CA 90025 EVENT PRODUCTION 2975390 GVF PRODUCTIONS INC 14803 CRANBROOK AVE HAWTHORNE CA 90250 EVENT SEROLOGY 2284388 THE JOE LEWIS COMPANY INC 470 E ROSECRANS AVE GARDENA CA 90248 EVENT PRODUCTION 1865519 79 1675008 216086 216086 1891094 TELECAST EVENT INCOME 900099 65729362 65729362 SPONSORSHIP INCOME 711320 15038328 15038328 GRAMMY TICKET SALES 711320 12110268 12110268 NARAS RELATED EVENTS 711320 703881 703881 PUBLICATION INCOME 541800 424084 57539 366545 94005923 6309400 6309400 2408768 2408768 7142939 6951675 191264 191264 191264 AWARDS ENTRY FEES 900099 1009745 1009745 COURSERA INCOME 900099 500000 500000 FILM CLIP INCOME 900099 378787 378787 382339 382339 2270871 107077320 14763772 366545 90055909 6350081 47500 3842747 21363352 989780 3251599 1763747 3751231 533574 155635 556624 8424135 3108454 1643982 6154140 6091614 2996204 717153 1078754 1253127 865355 EVENT PRODUCTION 33842946 EVENT EXPENSES 12181772 ENTERTAINMENT 446387 349134 121759027 523034 101173 2776951 5328763 4952300 3378725 1412541 1461297 12281564 10846554 2852089 1435010 102982172 112529059 5844784 5376507 121343871 129610534 7052421 10825784 20461070 24776490 3519115 8347868 1282409 4919301 32315015 48869443 X 89028856 80741091 89028856 80741091 121343871 129610534 -14681707 6349441 44501 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 1 1675008 652095 652095 1675008 -1022913 102982172 10003766 556624 112429314 97609869 5889896 517593 102982172 108784536 -10625702 548965 97609869 89675816 19745657 636937 108784536 87064143 0 3170493 558820 89675816 1.00000 1 0 5515031 5438230 76801 5525632 4949031 576601 1240901 459293 781608 1435010 RIGHT OF USE LEASE LIABILITY 1086070 PROPERTIES RENT 3833231 4919301 X PART V, LINE 4: THE INTENDED PURPOSE OF THE ENDOWMENT FUND IS TO EVENTUALLY USE ITS INVESTMENT INCOME TOWARDS OPERATIONS IN PROMOTION OF THE MISSION AND GROWTH OF THE RECORDING ACADEMY AS WELL AS PROVIDE OPERATIONAL SUPPORT IN CASE OF A CATASTROPHIC EVENT. PART X, LINE 2: THE RECORDING ACADEMY ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. FASB ASC 740 PRESCRIBES A COMPREHENSIVE MODEL FOR HOW A COMPANY SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE IN ITS COMBINED FINANCIAL STATEMENTS UNCERTAIN TAX POSITIONS THAT THE COMPANY HAS TAKEN, OR EXPECTS TO TAKE, ON A TAX RETURN. DURING THE YEARS ENDED JULY 31, 2024 AND 2023, THE RECORDING ACADEMY DID NOT INCUR A MATERIAL LIABILITY FOR UNRECOGNIZED TAX BENEFITS. 1 MUSICARES FOUNDATION INC 3030 OLYMPIC BLVD SANTA MONICA CA 90404 954470909 501(C)(3) 3252383 0 CONTRIBUTION AND PROGRAM SERVICE SUPPORT GRAMMY MUSEUM FOUNDATION INC 800 WEST OLYMPIC BLVD A245 LOS ANGELES CA 90015 261447714 501(C)(3) 2856224 0 CONTRIBUTION AND PROGRAM SERVICE SUPPORT LATIN GRAMMY CULTURAL FOUNDATION INC 3470 NW 82ND AVE STE 700 MIAMI FL 33122 464770436 501(C)(3) 150000 0 GENERAL SUPPORT FAYETTEVILLE STATE UNIVERSITY 1200 MURCHISON RD FAYETTEVILLE NC 28301 561238736 501(C)(3) 10000 0 GENERAL SUPPORT PENSOLE LEWIS COLLEGE OF BUSINESS AND DESIGN 200 WALKER STREET DETROIT MI 48207 382048961 501(C)(3) 10000 0 GENERAL SUPPORT LOS ANGELES SPORTS & ENTERTAINMENT COMMISSION 633 W 5TH ST SUITE 1800 LOS ANGELES CA 90071 954541188 501(C)(3) 7500 0 GENERAL SUPPORT TJ MARTELL FOUNDATION 2870 PEACHTREE RD 455 ATLANTA GA 30305 510180178 501(C)(3) 6500 0 GENERAL SUPPORT 7 0 SCHOLARSHIPS 14 47500 PART I, LINE 2: CHAPTERS OF THE RECORDING ACADEMY MAKE DONATIONS TO VARIOUS CHARITABLE ORGANIZATIONS IN THEIR RESPECTIVE COMMUNITIES. THE CHAPTERS, EITHER THROUGH THEIR LOCAL CHARITABLE GIVING COMMITTEE OR LOCAL EXECUTIVE COMMITTEE, PUT FORTH A PROPOSAL FOR THE LOCAL CHAPTER BOARD TO APPROVE DONATIONS OF THEIR SPECIAL PROJECT FUNDS TO BE USED FOR THIS PURPOSE. THESE FUNDS ARE THE ACCUMULATION OF FUNDS BASED ON EVENTS HELD AT THE LOCAL LEVEL. THESE CHAPTER-APPROVED DISBURSEMENTS OVER $2,500 ARE THEN SENT TO THE NATIONAL FINANCE SUBCOMMITTEE FOR FINAL APPROVAL. A PRESENTATION IS MADE DISCLOSING INFORMATION ABOUT THE BENEFICIARY, ITS TAX-EXEMPT STATUS, THE NATURE OF THE USE OF THE FUNDS AND OTHER PERTINENT INFORMATION. THE FINANCE SUBCOMMITTEE APPROVES ALL DONATIONS OVER $2,500. THE NATIONAL HEADQUARTERS OF THE RECORDING ACADEMY SPONSORS VARIOUS CHARITIES IN THE COMMUNITIES IT SERVES THROUGH PURCHASES OF TABLES AT EVENTS AND/OR ADVERTISEMENTS IN PROGRAM BOOKS AND FROM TIME-TO-TIME CASH DONATIONS. THE RECORDING ACADEMY PROVIDES ASSISTANCE TO ITS AFFILIATED ENTITIES: MUSICARES FOUNDATION, INC., GRAMMY MUSEUM FOUNDATION, INC., AND LATIN GRAMMY CULTURAL FOUNDATION. X X 1 1 X X X X X X 0 0 0 HARVEY MASON JR CHIEF EXECUTIVE OFFICER 906325 0 362530 0 17922 0 15000 0 1996 0 1303773 0 0 0 BRANDEN CHAPMAN CHIEF OPERATING OFFICER 538152 0 1750 0 4242 0 15000 0 19018 0 578162 0 0 0 PANOS A PANAY PRESIDENT 509446 0 0 0 4242 0 0 0 37337 0 551025 0 0 0 RUBY MARCHAND CHIEF AWARDS & INDUSTRY OFFICER 461559 0 1750 0 9858 0 14224 0 28605 0 515996 0 0 0 WAYNE J ZAHNER CHIEF FINANCIAL OFFICER 443257 0 1750 0 4242 0 15000 0 16203 0 480452 0 0 0 ADAM ROTH SVP, PARTNERSHIPS & BUSINESS DEVELOP 289907 0 85916 0 3810 0 11250 0 13216 0 404099 0 0 0 DAVID GREGORY CHIEF INFORMATION OFFICER 341533 0 1750 0 10458 0 15000 0 27355 0 396096 0 0 0 JENNIFER JONES EVP, LEGAL AFFAIRS 327408 0 1750 0 3810 0 11250 0 32418 0 376636 0 0 0 SHONDA GRANT CHIEF PEOPLE & CULTURE OFFICER 318551 0 1750 0 4242 0 11438 0 36300 0 372281 0 0 0 TODD DUPLER CHIEF ADVOCACY & PUBLIC POLICY OFFIC 314215 0 1750 0 3738 0 4920 0 38354 0 362977 0 0 0 PART I, LINE 1A THE RECORDING ACADEMY HAS A WRITTEN POLICY REGARDING THE CIRCUMSTANCES IN WHICH FIRST CLASS TRAVEL MAY BE USED. THE ORGANIZATION MAKES IT A PRACTICE TO ROUTINELY USE COACH OR BUSINESS CLASS AIRLINE TRAVEL. THE PRESIDENT/CEO AND ELECTED OFFICERS ARE PERMITTED TO FLY FIRST CLASS, ALTHOUGH THEY ARE ENCOURAGED TO FLY BUSINESS CLASS, IF AVAILABLE, PRIOR TO BOOKING IN FIRST CLASS. FURTHER, THESE INDIVIDUALS ARE ALSO ENCOURAGED TO USE COACH CLASS TRAVEL FOR VERY SHORT TRIPS. OTHER MEMBERS OF SENIOR MANAGEMENT (MANAGING DIRECTORS AND ABOVE) ARE ONLY ALLOWED TO FLY BUSINESS OR FIRST CLASS IF THE FLIGHT IS OVER TWO HOURS IN DURATION. FOR INTERNATIONAL TRAVEL, THE FIRST CHOICE IS BUSINESS CLASS AND THE SECOND CHOICE IS FIRST CLASS FOR ALL MEMBERS OF SENIOR MANAGEMENT (MANAGING DIRECTORS AND ABOVE). THE BOARD OF TRUSTEES MEMBERS ARE OFFERED THE OPPORTUNITY TO FLY FIRST CLASS OR BUSINESS CLASS FOR THE IN-PERSON BOARD MEETINGS EACH YEAR. THIS BENEFIT IS NOT TREATED AS TAXABLE COMPENSATION. CERTAIN MEMBERS OF MANAGEMENT, VICE PRESIDENTS AND HIGHER, ARE ACCOMODATED WITH MEMBERSHIPS TO SOHO HOUSE, A SOCIAL CLUB FOR MEMBERS OF THE CREATIVE COMMUNITY. THIS BENEFIT IS NOT TREATED AS TAXABLE COMPENSATION. SEE PART V SEE PART V 550 SEE PART V 0 WORD & SOUL LLC SEE PART V 7500 SEE PART V 0 SCHEDULE L, PART IV: (A) NAME OF INTERESTED PERSON: PLUMOTT, LLC DBA LONDON BRIDGE STUDIO(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: ERIC LILAVOIS, TRUSTEE, OWNS MORE THAN 50% OF LONDON BRIDGE STUDIO, WHICH WAS RENTED TO THE PACIFIC NORTHWEST CHAPTER FOR A CHAPTER EVENT.(C) AMOUNT OF TRANSACTION: $550(D) DESCRIPTION OF TRANSACTION: EVENT RENTAL(E) SHARING OF ORGANIZATION REVENUES? = NO SCHEDULE L, PART IV: (A) NAME OF INTERESTED PERSON: WORD & SOUL, LLC(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: JAMES IVY RICHARDSON, TRUSTEE, SOLE OWNER OF WORD & SOUL LLC, PERFORMED AT A GRAMMY GLOBAL VENTURE CULTURE SUMMIT EVENT.(C) AMOUNT OF TRANSACTION: $7,500(D) DESCRIPTION OF TRANSACTION: PERFORMANCE FEE(E) SHARING OF ORGANIZATION REVENUES? = NO X BEVERAGES 5 216678 COST OR SELLING PRIC X GIFT BAGS 1 2640 COST OR SELLING PRIC X APPAREL 1 2250 COST OR SELLING PRIC 0 0 0 0 SCHEDULE M, PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART V, LINE 6B: THE ORGANIZATION DOES NOT SOLICIT CONTRIBUTIONS FROM THE GENERAL PUBLIC. HOWEVER, THEY DO ACCEPT SPONSORSHIP INCOME FROM CORPORATE DONORS AS PART OF THEIR EVENTS. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE IS COMPRISED OF THE CHAIR OF THE BOARD OF TRUSTEES, VICE CHAIR OF THE BOARD OF TRUSTEES, SECRETARY/TREASURER OF THE BOARD OF TRUSTEES, CHAIR EMERITUS OF THE BOARD OF TRUSTEES AND FOUR (4) SITTING TRUSTEES SELECTED BY THE CHAIR OF THE BOARD OF TRUSTEES IN CONSULTATION WITH THE CHIEF EXECUTIVE OFFICER AND RATIFIED BY THE BOARD OF TRUSTEES. THEY ARE GRANTED UNILATERAL RIGHTS TO CONDUCT BUSINESS ON BEHALF OF THE BOARD OF TRUSTEES. ANY SUCH ACTION SHALL BE COMMUNICATED TO THE ENTIRE BOARD AS PROMPTLY AS THE EXECUTIVE COMMITTEE DEEMS REASONABLY PRACTICABLE. SUCH ACTIONS SHALL NOT INCLUDE: (A)ALTERING MAJOR LEGAL DOCUMENTS SUCH AS, BUT NOT LIMITED TO, THE CERTIFICATE OF INCORPORATION, BYLAWS, OR GOVERNANCE MANUAL; (B)AUTHORIZING MERGERS (OTHER THAN A MERGER OF ANY WHOLLY-OWNED SUBSIDIARY WITH THE RECORDING ACADEMY), ACQUISITIONS, JOINT VENTURES, CONSOLIDATIONS OR DISSOLUTIONS; OR APPROVING THE SALE, LEASE, EXCHANGE OR ENCUMBRANCE OF ANY MATERIAL ASSET OF THE RECORDING ACADEMY THAT IS NOT IN THE ORDINARY COURSE OF BUSINESS OF THE RECORDING ACADEMY; (C)FORMING OR DISSOLVING STANDING AND TRUSTEE-ONLY COMMITTEES OF THE BOARD, OR AMENDING THE CHARTER OF ANY COMMITTEE; (D)TAKING ANY ACTIONS THAT HAVE BEEN EXPRESSLY, BY CHARTER OR RESOLUTIONS, DELEGATED TO ANY OTHER TRUSTEE-ONLY COMMITTEE; AND (E)AMENDING OR REPEALING ANY RESOLUTION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 THE FOLLOWING PEOPLE HAD BUSINESS RELATIONSHIPS: EVAN BOGART WITH JENNIFER BLAKEMAN JENNIFER BLAKEMAN WITH MARIA EGAN EVAN BOGART WITH MARIA EGAN MICHAEL KNOBLOCH WITH HARVEY MASON JR. HARVEY MASON JR. WITH EVAN BOGART JUSTIN HENDERSON WITH KENNARD GARRET MICHAEL KNOBLOCH WITH HARVEY MASON JR. SUSAN MARSHALL WITH KEN SHEPHERD SUSAN MARSHALL WITH JOHN BURKE ANNA FRICK WITH JORDAN HAMLIN JOHN LEGEND WITH HARVEY MASON JR. MICHAEL ROMANOWSKI WITH CHUCK AINLAY VON VARGAS WITH J. IVY VON VARGAS WITH ANDREW JOSLYN FORM 990, PART VI, SECTION A, LINE 6 THERE ARE THREE CATEGORIES OF MEMBERS OF THE RECORDING ACADEMY: (A) VOTING MEMBERS; (B) PROFESSIONAL MEMBERS; AND (C) GRAMMY UNIVERSITY MEMBERS. EACH MEMBERSHIP CLASS HAS ITS OWN RIGHTS AND ESTABLISHED CRITERIA FOR PARTICIPATION AS SET FORTH BY THE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A VOTING MEMBERS FROM EACH CHAPTER: THE VOTING MEMBERS FROM EACH CHAPTER SHALL CONSTITUTE A SEPARATE MEMBERSHIP CLASS (THE "CHAPTER VOTING MEMBER MEMBERSHIP CLASS") AT THE TIME AND, AS SUCH, SHALL ELECT THE VOTING MEMBER GOVERNORS FROM SUCH CHAPTER BY A PLURALITY VOTE OF QUALIFIED RETURNED BALLOTS EQUAL TO NOT LESS THAN TEN PERCENT OF THE TOTAL NUMBER OF MEMBERS OF SUCH MEMBERSHIP CLASS. VOTING MEMBERS AND PROFESSIONAL MEMBERS FROM EACH CHAPTER: THE VOTING MEMBERS AND PROFESSIONAL MEMBERS FROM EACH CHAPTER AT THE TIME SHALL CONSTITUTE A SEPARATE MEMBERSHIP CLASS (THE "CHAPTER VOTING MEMBER AND PROFESSIONAL MEMBER MEMBERSHIP CLASS") AND, AS SUCH, SHALL ELECT THE PROFESSIONAL MEMBER GOVERNORS FROM SUCH CHAPTER BY A PLURALITY VOTE OF QUALIFIED RETURN BALLOTS EQUAL TO NOT LESS THAN TEN PERCENT OF THE TOTAL NUMBER OF MEMBERS OF SUCH MEMBERSHIP CLASS. TRUSTEE ELECTIONS: THE MEMBERS FROM EACH CHAPTER WHO AT THE TIME ARE VOTING MEMBER GOVERNORS, PROFESSIONAL MEMBER GOVERNORS, CHAPTER OFFICERS AND TRUSTEES SHALL CONSTITUTE A SEPARATE MEMBERSHIP CLASS (THE "CHAPTER BOARD MEMBERSHIP CLASS"). THE CHAPTER BOARD MEMBERSHIP CLASS SHALL ELECT, BY A PLURALITY VOTE OF A MAJORITY OF THE CHAPTER BOARD MEMBERSHIP CLASS ELIGIBLE TO VOTE: (A) THE TRUSTEES TO BE ELECTED BY SUCH CHAPTER; AND (B) THE CHAPTER OFFICERS OF SUCH CHAPTER. THE VOTING MEMBER AND PROFESSIONAL MEMBER MEMBERSHIP CLASS SHALL ELECT, BY A PLURALITY VOTE OF A MAJORITY OF THE VOTING MEMBER AND PROFESSIONAL MEMBER MEMBERSHIP CLASS ELIGIBLE TO VOTE, THE TRUSTEES TO BE ELECTED BY THE VOTING MEMBER AND PROFESSIONAL MEMBER MEMBERSHIP CLASS. ALL TRUSTEES SHALL HAVE THE SAME ROLES AND RESPONSIBILITIES, REGARDLESS OF WHETHER THEY ARE ELECTED BY THE CHAPTER BOARD MEMBERSHIP CLASS OR THE VOTING AND PROFESSIONAL MEMBER MEMBERSHIP CLASSES. TRUSTEES: THE MEMBERS WHO AT THE TIME ARE TRUSTEES SHALL CONSTITUTE A SEPARATE MEMBERSHIP CLASS (THE "TRUSTEE MEMBERSHIP CLASS"). DURING THE PERIOD A PERSON IS IN OFFICE AS A TRUSTEE OFFICER, SUCH PERSON WILL ALSO BE A TRUSTEE. THE TRUSTEE MEMBERSHIP CLASS SHALL (A) ELECT THE TRUSTEE OFFICERS BY A MAJORITY VOTE OF A SIMPLE QUORUM. IF THERE IS A TIE, THERE SHALL BE RUNOFF ELECTIONS UNTIL A SINGLE CANDIDATE RECEIVES A MAJORITY VOTE OF A SIMPLE QUORUM; (B) HAVE THE POWER, BY A SUPERMAJORITY VOTE OF A SUPERMAJORITY QUORUM, (I) TO REMOVE ANY TRUSTEE FROM OFFICE UNDER SECTION 6.9, (II) TO REMOVE ANY TRUSTEE OFFICER FROM OFFICE UNDER SECTION 7.1.3, AND (III) TO REMOVE ANY GOVERNOR FROM OFFICE UNDER SECTION 9.4.6; (C) HAVE THE POWER TO RATIFY THE COMMITTEE NOMINATIONS UNDER SECTION 6.14; AND (D) HAVE THE POWER TO APPROVE, ADOPT, VOTE ON, CONSENT WITH RESPECT TO, OR RATIFY SUCH MATTERS OR ACTIONS THAT THE CHAIR OR THE EXECUTIVE COMMITTEE DECIDES TO SUBMIT TO THE TRUSTEE MEMBERSHIP CLASS FOR SUCH ACTION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY DELOITTE TAX LLP, WORKING IN CONJUNCTION WITH THE ORGANIZATION'S FINANCE DEPARTMENT. THE DRAFT OF FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. THE INITIAL DRAFT OF FORM 990 IS THEN PROVIDED TO THE RECORDING ACADEMY'S AUDIT/FINANCE COMMITTEE FOR THEIR REVIEW. ANY COMMENTS RESULTING FROM THEIR REVIEW ARE INCORPORATED INTO THE FINAL FILING OF FORM 990. THE AUDIT/FINANCE COMMITTEE HAS BEEN AUTHORIZED BY THE BOARD OF TRUSTEES TO REVIEW THE TAX FILINGS AND APPROVE THEM TO BE FILED. A COPY OF THE RETURN IS MAILED TO EACH TRUSTEE AFTER APPROVAL AND BEFORE THE ULTIMATE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CORPORATE SECRETARY DISTRIBUTES THE STATEMENT OF CONFLICT OF INTEREST POLICY AT A TRUSTEES MEETING. THE STATEMENTS ARE COLLECTED BY THE CORPORATE SECRETARY AND THEN A SUMMARY REPORT IS GIVEN TO THE CHAIR OF THE BOARD OF TRUSTEES AND THE PRESIDENT/CHIEF EXECUTIVE OFFICER. ACCORDINGLY, THE CHAIR OF THE BOARD OF TRUSTEES AS WELL AS THE CHIEF EXECUTIVE OFFICER ARE 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 PRESIDENT/CEO COMPENSATION WAS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES, FUNCTIONING AS A COMPENSATION COMMITTEE FOR THIS PURPOSE. THE DECISION WAS THEN RATIFIED BY THE BOARD OF TRUSTEES. THE COMMITTEE RELIED UPON THE ADVICE AND EXPERTISE OF LEGAL COUNSEL, AN INDEPENDENT OUTSIDE COMPENSATION CONSULTANT AND COMPARABILITY DATA IN DETERMINING THE COMPENSATION. THE MEETING IN WHICH THOSE DELIBERATIONS WERE CONDUCTED WAS CONTEMPORANEOUSLY DOCUMENTED. FORM 990, PART VI, SECTION B, LINE 15B: COMPENSATION FOR OTHER EMPLOYEES OF NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES, INC. IS SET BY THE PRESIDENT/CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER AND CHIEF PEOPLE AND CULTURE OFFICER. COMPENSATION IS DETERMINED BY THE REVIEW OF THE COMPENSATION OF OTHER EMPLOYEES AT SIMILAR LEVELS. INFORMATION FROM OUTSIDE ORGANIZATIONS IS GATHERED BY THE CHIEF PEOPLE AND CULTURE OFFICER AND BY A GENERAL KNOWLEDGE OF WHAT IS EXPECTED FOR THE POSITION BY THESE THREE INDIVIDUALS. AS IT RELATES TO ANNUAL INCREASES, THE CHIEF PEOPLE AND CULTURE OFFICER AND THE CHIEF FINANCIAL OFFICER HAVE DISCUSSED BENCHMARKING WITH PEOPLE AND CULTURE MANAGEMENT AND THE CHIEF FINANCIAL OFFICER OF SIMILAR ORGANIZATIONS. AGREEMENT IS OBTAINED BETWEEN THESE THREE INDIVIDUALS (CEO, CFO, CHIEF PEOPLE AND CULTURE OFFICER) AS TO THE VALUE OF SERVICES PROVIDED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES THE BYLAWS AVAILABLE ON ITS WEBSITE. IT DOES NOT MAKE THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART VII, SECTION A: SALARY INFORMATION REPORTED ON PART VII AND SCHEDULE J IS FOR THE CALENDAR YEAR ENDED WITH OR WITHIN THE FISCAL TAX YEAR, AS REQUIRED BY THE IRS. PART XII, LINE 2C: THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED AS PART OF THE COMBINED FINANCIAL STATEMENTS THAT INCLUDED NARAS PROPERTIES, INC., A RELATED TAX-EXEMPT ORGANIZATION, AND GRAMMY GLOBAL VENTURES, LLC, A DISREGARDED ENTITY. TANGIBLE PROPERTY REGULATION 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. GRAMMY GLOBAL VENTURES 3030 OLYMPIC BLVD SANTA MONICA CA 90404 874829735 GLOBAL OUTREACH AND MUSIC EDUCATION DE 505441 2074322 NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES INC NARAS PROPERTIES 3030 OLYMPIC BLVD SANTA MONICA CA 90404 954516666 HOLD TITLE TO REAL PROPERTY CA 501(C)(2) NATIONAL ACADEMY OF RECORDING ARTS & SCIENCES INC 1 0 0 0 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 1 NARAS PROPERTIES D 100000 CASH VALUE NARAS PROPERTIES K 4872399 FMV NARAS PROPERTIES O 55392 FMV NARAS PROPERTIES S 5254395 FMV NARAS PROPERTIES P 1374 CASH VALUE SCHEDULE R, PART V: NARAS PROPERTIES, INC., A RELATED SECTION 501(C)(2) TAX-EXEMPT ORGANIZATION CONTROLLED BY THE RECORDING ACADEMY, OWNS THE CORPORATE HEADQUARTERS IN SANTA MONICA, CALIFORNIA USED BY THE RECORDING ACADEMY AND ITS AFFILIATED TAX-EXEMPT ORGANIZATIONS. THE RECORDING ACADEMY PAID RENT FOR ITS USE OF THE CORPORATE HEADQUARTERS. THE VALUE OF THE RENT WAS DETERMINED BASED ON COMPARABLES OF SIMILAR PROPERTIES. NARAS PROPERTIES, INC. ALSO OWNS AN OFFICE BUILDING IN NASHVILLE, TENNESSEE USED BY THE NASHVILLE CHAPTER OF THE RECORDING ACADEMY AND MUSICARES, ONE OF ITS AFFILIATED TAX-EXEMPT ORGANIZATIONS. THE RECORDING ACADEMY PAID RENT FOR ITS USE OF THE PROPERTY. THE VALUE OF THE RENT WAS DETERMINED BASED ON COMPARABLES OF SIMILAR PROPERTIES. NARAS PROPERTIES, INC. ALSO OWNS AN OFFICE BUILDING IN NEW YORK CITY USED BY THE NEW YORK CHAPTER OF THE RECORDING ACADEMY, MUSICARES, ONE OF ITS AFFILIATED TAX-EXEMPT OGANIZATIONS, AND GRAMMY GLOBAL VENTURES, LLC, ITS WHOLLY-OWNED SUBSIDIARY. THE RECORDING ACADEMY PAID RENT FOR ITS USE OF THE PROPERTY. THE VALUE OF THE RENT WAS DETERMINED BASED ON COMPARABLES OF SIMILAR PROPERTIES.