Arts Boston Inc.

“The 990 is distributed via email to the governing body. If after two weeks no inquiries or questions are made, the 990 is considered approved and filed. The audit/finance committee review and approve the 990 prior to it being made available to the entire governing body.”

“Board members are required to sign off on a conflict of interest form annually.”

“The executive committee researched the most recent and publicly available data that could be found from 990's of comparable organizations for executive director's salary. The committee used this information along with performance measurement to discuss and determine appropriate compensation for the executive director.”

“Form 990 is made available to the public via the attorney general's website and guidestar.org as well as upon request. The organization's governing documents, conflict of interest policy and audited financial statements are also available upon request”

“Arts/boston, inc. (the agency) is a nonprofit service organization that builds the marketing and audience development capacity of the greater boston cultural sector to connect residents and visitors with the arts. Founded in 1975, the agency sponsors innovative collaborative programs and services that build participation, share knowledge, and raise awareness of cultural organizations of all sizes and working in all disciplines. It also serves as a catalyst that encourages the cultural community to work together on collective responses to emerging challenges and opportunities. Signature programs include: artsboston audience initiative: helps arts groups apply actionable market research to their efforts to understand, retain, and grow audiences through marketing and outreach by using a powerful database of 1.5 million arts-going households, combined with in-depth training, technical assistance, and shared learning the arts factor: presents cultural impact research that strengthens the sector's ability to build a unified, data-driven case about the cross-cutting importance of arts and culture to the region bostix: guides organizations to use strategic discounting through sales online at bostix.org and at cultural information booths at faneuil hall and copley square artsboston.org: provides broad visibility for the arts through boston's most comprehensive online cultural calendar and information resource artsboston also provides cost-saving marketing through unique online, outdoor, and print advertising platforms; social media connectivity; and collaborative promotional campaigns such as mayor's holiday and get artventurous. The agency is exempt from federal income taxes as an organization (not a private foundation) formed for charitable purposes under section 501(c)(3) of the internal revenue code. The agency is also exempt from state income taxes. Donors may deduct contributions made to the agency within the requirements of the internal revenue code and related regulations.”

“The finance committee acts as our audit committee. Along with approval from the board of directors the finance committee select who our auditor is and sign the engagement letter along with the executive director. Management works with the auditors for scheduling and list of schedules to prepare. The audit committee is available for questions and on an as needed basis for this process. Management reviews the draft financial statements with the auditors. Management then sends draft financial statements to the audit committee before meeting with the auditors. They all meet for discussion and then the audit committee and auditors meet separately from management for questions and answers, and discussions before the audit committee approves the audit. The audit committee informs the board of its approval. The auditors then present the audit/finance committee approved financial statements to the board for approval after the board and the auditors meet separately from management for questions and answers.”