47 Palmer Inc.

“No minutes are maintained for committee meetings as no binding decisions are made during committee meetings. Committees are formed for advisory purposes only.”

“The Form 990 is reviewed by the board of directors to ensure that all are in agreement that the 990 accurately represents the activity and standing of the entity.”

“There are occasional discussions of potential conflicts during board meetings throughout the year. In addition,once a year each board member must sign a form indicating that he or she has read the policy and complies with it or discloses where there is a conflict, which is then reported to the full board so that all are aware of it. Anyone with a conflict cannot vote on any matter where the conflict is involved.”

“The Personnel Committee and Finance Committee of the Board reviewed data from the 2013 Guidestar Compensation Survey for the Executive Director and top management personnel. For Executive Director compensation across the country and in Massachusetts for comparably sized nonprofits in general and the performing arts in particular, the Executive Director is well below the mean and median based on any comparison. The Chief Financial Officer is below the median and mean for all CFOs, at about the mean for Performing Arts Centers and below the median for Massachusetts CFOs. Our Managing Director, who is in charge of our largest program, is difficult to classify, since his role is fairly unique. Perhaps the best comparison is with other Program Directors. Given this comparison, he is at the mean for all Program Directors, although above the median. For Mass. Program Directors, our Managing Director is well below the mean but above the median.”

“The Organization's Form 1023 and 990 are available online via Guidestar and also the Organization will provide this information upon request.”

“The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Artist fees: Program service expenses 421,097. Management and general expenses 554. Fundraising expenses 750. Total expenses 422,401. Instructor fees: Program service expenses 41,431. Management and general expenses 0. Fundraising expenses 0. Total expenses 41,431. Other subcontract: Program service expenses 91,759. Management and general expenses 10,447. Fundraising expenses 610. Total expenses 102,816.”