Puppet Showplace Inc.

“During the preparation of the theaters fy20 accounts, the board of trustees learned that there was a material diversion of its assets during the fy20 fiscal year. A newly hired managing director engaged in unauthorized spending of at least $138,700, the board took immediate action to:1) work with the bank to verify this breach of assets, open new accounts to conduct the theaters business, and add additional financial oversight;2) terminate the managing director (daniel deloma);3) replace the theaters bookkeeper;4) review and strengthen all financial controls, where needed;50 liaise with the brookline police department, who following the breach and investigation, have opened a criminal case against the former managing director.”

“The board has delegated to the treasurer of the organization the detail review of form 990. Once the draft 990 has been approved by the treasurer, a copy is distributed to the full board for final review and approval prior to filing.”

“Any conflicts of interest disclosed during the annual certification process are discussed with the board. Staff, officers and board members are alert to conflicts of interest throughout the year”

“The annual salary of the managing director is determined by the board based on the annual agency budget. The board also takes into consideration the salary level of executive directors of similarly sized performing arts organizations.”

“The companys 990, together with other basic information about the company is available to the general public through the internet at www.guidestar.org. Interested individuals may also obtain a copy of the 990, governing documents and conflict of interest policy directly from the company”

“Accounting for leases 24,226other changes 3,349”

“Performers 149,700workshops 26,680other consultants 16,840”