Ballet Tech Foundation Inc.

“The organization's bylaws were updated in september 2014. The executive committee was renamed the audit and governance committee, and its duties were outlined as follows: 2. Audit and governance committee. The audit and governance committee shall be comprised of at least three (3) directors, each of whom is an independent director (as defined below). The members of the audit committee shall be appointed by the chairman of the board, subject to the approval of the board. An independent director is a director who: 1) has not been an employee of the corporation or an affiliate of the corporation in the last 3 years and has no relative who has been an employee of the corporation or an affiliate of the corporation in the last 3 years; 2) has not received (and has no relatives who have received) in the last 3 years more than $10,000 in compensation from the corporation or an affiliate of the corporation (other than reimbursable expenses or reasonable compensation for director services); and 3) is not a current employee of or does not have a substantial financial interest in (and does not have a relative who is a current employee of or has a substantial financial interest in) any entity that has made payments (not including charitable contributions) to or received payments (not including charitable contributions) from the corporation or an affiliation of the corporation for property or services in an amount which, in any of the last 3 fiscal years, exceeds the lesser of $25,000 or 2% of such entity's consolidated gross revenues. The committee shall: (i) review with the independent auditor the scope and planning of the audit prior to the audit's commencement; (ii) upon completion of the audit, review and discuss with the independent auditor (a) any material risks and weaknesses in internal controls identified by the auditor; (b) any restrictions placed on the scope of the auditor's activities or access to requested information; (c) any significant disagreements between the auditor and management; and (d) the adequacy of the corporation's account and financial reporting processes; (iii) annually consider the performance and independence of the auditor; and (iv) report on the committee's activities to the board. Furthermore, the following sentence was added to the description of the chairman: no employee of the corporation may serve as the chairman of the board.”

“There are no committees with authority to act on behalf of the governing body.”

“A copy of the 990, in draft form, was circulated to the members of board of directors via email for their review. Also, management reviews a copy of the 990, prior to its filing with the irs.”

“Prior to any party's election to the board of directors or as an officer, such party, and annually thereafter shall disclose in writing any interest, as defined below, in any corporation or other organization which provides goods or services to the foundation for a fee or other compensation. A copy of each disclosure statement shall be available to any director on request. If at any time during his or her term of service, a director or officer has any interest, he or she shall promptly disclose the material facts of that interest in writing to the board. When any matter in which a director or officer has an interest comes before the board or any committee thereof for decision or approval, that interest shall be immediately disclosed to the board or the committee by that director or officer. A director or officer shall be deemed to have an interest in a matter if that director or officer or a related party, as defined below, has a significant economic interest in a decision on the matter by the board or any committee. As to any director or officer, a related party shall mean any relative thereof or an entity in which any of the foregoing persons is a shareholder, director, officer or the equivalent. No director shall vote on any matter in which such director has an interest. The board or the members of a committee may ask any director or officer who has an interest in a matter not to participate or to leave the room at the board or committee meeting in which discussion regarding that matter takes place; provided, however, that the interested director or officer may participate in any discussion regarding such party`s exclusion. Directors and officers may not attempt to influence other director or officers regarding matter in which they have an interest without first disclosing that interest. If a contract is proposed for approval by the board with an entity in which a director, officer or related party has an interest, regardless of amount (an interested party contract), the board or a committee designated by the board shall review the contract and shall recommend that the foundation execute or not execute the contract. In reaching its decision, the board or committee shall adhere to the legal requirements applicable to the approval of interested party contracts which mandate that an interested party contract can only be approved if, taking into account the terms of all reasonable alternatives, the proposed interested party contract is fair, reasonable and in the best interests of the foundation. All action regarding the interested party contract shall be recorded in the minutes of the board or committee meeting during which the action was taken. The president of the foundation is directed to apply to the staff rules and procedures consistent with the rules and procedures set forth in this statement.”

“Annually, the audit & governance committee reviews the proposed compensation for both the president and the director of operations. The committee is supplied with comparative salary information from at least three similarly sized organizations, also located in manhattan, with comparable missions and/or programs. Such comparative data is obtained from other organizations' 990 forms. The two positions were last reviewed in december 2015.”

“Documents are provided upon written request.”