New York Shakespeare Festival

“The organization has an executive committee consisting of the chair, other officers of the board, the chairs of the audit, finance and nominating committees and such additional trustees as may be elected by the board. The executive committee shall have and may exercise all the powers of the board permitted by law when the board is not in session, except for certain specific matters pursuant to the organization's by-laws.”

“Management (including but not limited to the executive director) reviews the form 990 with the audit committee. After that evaluation, the draft 990 is circulated to the executive committee for review and approval. The public version of the 990 is then circulated to the full board for comments and questions prior to filing.”

“Throughout the fiscal year, board members are reminded to disclose any conflicts they may have to management or the audit committee. At the end of each fiscal year, conflict of interest forms are filled out by trustees, and the audit committee or its chair evaluates the disclosures to determine whether they involve material conflicts and makes a recommendation. Interested board members recuse themselves from discussion and voting relating to any conflicted matter. However, as a member of the board or committee, the interested board member may be counted in determining the establishment of the quorum at such a meeting. At this time, only trustees are required to disclose. A policy is being drafted to require the same of officers and key employees.”

“The artistic director's contract was renewed effective june 2018 and runs through july 2028. The executive director's contract was renewed in january 2022 and runs through december 2025. The executive committee received a report from an independent consultant with comparative data from peer cultural institutions in budget and program size in new york city and across the country. Using this data, the committee determined a comparable compensation level. For the key positions of production executive, chief advancement officer, chief financial officer, managing director and chief marketing officer, the senior director of human resources and/or independent consultant garners information using comparative data from similarly-sized, nonprofit arts institutions. The information is culled from form 990s and from industry surveys. Using this data, the executive director and hr determine compensation.”

“Governing documents, conflict of interest policies and financial statements are not made available to the public.”

“In 2024, new york shakespeare festival undertook a major capital improvement project at the delacorte theater, home to shakespeare in the park. As a result, new york shakespeare festival did not present any shakespeare in the park productions in 2024. Facility renovations are scheduled for completion in 2025, at which time new york shakespeare festival will resume shakespeare in the park productions at the delacorte theater.”

“Pension-related changes other than periodic pension cost -255,344.”