Aperture Foundation Inc.

“Line 11b explanation - form 990 review conducted by executive director, cfo & audit committee”

“When recruiting for the ceo position in 2010, the board engaged a recruiting consultant to help with the search, review applications, and determine compensation using comparable compensation data. The board approved a 10% salary increase in 2015, the first raise since the ceo was hired. In 2020, the board engaged a recruiting firm to hire a new executive director to replace chris boot, who retired in april 2021. The recruiting firm helped with the search, reviewed applications, and provided comparable compensation to help establish compensation.”

“Information available upon request”

“On april 7, 2020 the organization took out a paycheck protection program (ppp) loan in the amount of $544,546 under the cares act. The organization used this loan amount for qualifying expenditures and as such was eligible to have the loan amount forgiven in march 2021 by the small business administration. The amount is reported as government grant contribution on line 1e of part viii.”

“Periodical mailing: program service expenses 141,184. Management and general expenses 0. Fundraising expenses 0. Total expenses 141,184. Commissions & fees: program service expenses 132,810. Management and general expenses 0. Fundraising expenses 0. Total expenses 132,810. Bank & credit card charges: program service expenses 0. Management and general expenses 84,196. Fundraising expenses 0. Total expenses 84,196. Trade shows: program service expenses 72,870. Management and general expenses 0. Fundraising expenses 0. Total expenses 72,870. Payroll processing fees: program service expenses 0. Management and general expenses 48,846. Fundraising expenses 0. Total expenses 48,846. Prizes: program service expenses 48,565. Management and general expenses 0. Fundraising expenses 0. Total expenses 48,565. Memberships: program service expenses 0. Management and general expenses 0. Fundraising expenses 38,075. Total expenses 38,075. Contribution expenses: program service expenses 0. Management and general expenses 0. Fundraising expenses 30,000. Total expenses 30,000. Education: program service expenses 27,666. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,666. Telephone: program service expenses 20,009. Management and general expenses 3,450. Fundraising expenses 4,140. Total expenses 27,599. Catalogs & direct mail: program service expenses 22,910. Management and general expenses 328. Fundraising expenses 2,508. Total expenses 25,746. Repairs & maintenance: program service expenses 18,198. Management and general expenses 3,138. Fundraising expenses 3,765. Total expenses 25,101. Bad debts: program service expenses 0. Management and general expenses 24,670. Fundraising expenses 0. Total expenses 24,670. Consignment: program service expenses 22,348. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,348. Utilities: program service expenses 13,615. Management and general expenses 2,348. Fundraising expenses 2,817. Total expenses 18,780. Equipment: program service expenses 13,031. Management and general expenses 2,247. Fundraising expenses 2,696. Total expenses 17,974. Outside services: program service expenses 12,221. Management and general expenses 5,400. Fundraising expenses 0. Total expenses 17,621. Dues & subscriptions: program service expenses 2,999. Management and general expenses 239. Fundraising expenses 4,990. Total expenses 8,228. Vault: program service expenses 0. Management and general expenses 6,000. Fundraising expenses 0. Total expenses 6,000. Archive: program service expenses 0. Management and general expenses 2,693. Fundraising expenses 0. Total expenses 2,693. Security: program service expenses 1,171. Management and general expenses 202. Fundraising expenses 242. Total expenses 1,615. Development expenses: program service expenses 0. Management and general expenses 450. Fundraising expenses 745. Total expenses 1,195. Research: program service expenses 767. Management and general expenses 132. Fundraising expenses 159. Total expenses 1,058. Lectures: program service expenses 1,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,000. Taxes: program service expenses 0. Management and general expenses 813. Fundraising expenses 0. Total expenses 813. Relocation: program service expenses 507. Management and general expenses 87. Fundraising expenses 105. Total expenses 699. Employment retention credit - wage reduction amount : program service expenses -341,789. Management and general expenses -77,660. Fundraising expenses -106,855. Total expenses -526,304.”

“The organization recorded an employee retention credit receivable as of december 31, 2021 related to the tax years 2020 and 2021. This credit is shown separately in the functional expenses on form 990 part ix , line 24e for 2021 as a negative amount of $526,304. The credit is recorded net of directly related expense.”