Apollo Theater Foundation Inc

“The form 990 draft is reviewed by management and the audit committee chair prior to filing.”

“Disclosure of conflict. An interested person must disclose orally or in writing the existence of his or her interest and all material facts related to an actual or potential conflict of interest to directors and/or members of committees authorizing a proposed contract or other transaction involving such conflict of interest. If a contract or transaction is not being considered by the board or a committee, the required disclosure must be made to the chairman of the board, chairman of the audit committee, secretary or the chairman's designee, who shall, subject to the discretion of the chairman (where the interested person is not the chairman), disclose such potential conflict of interest to the board of directors or the audit committee. Until a proposed contract or other transaction involving a conflict of interest has been voted upon by the board or a committee, an interested person shall refrain from any action that might affect the foundation's participation in any contract or transaction affected by such conflict of interest. An interested person may not vote on the contract or transaction to which the conflict of interest relates, but may be counted in determining the presence of a quorum at the meeting of the board or committee that authorizes such contracts or transactions. The board or committee shall determine by a majority vote of the disinterested directors whether a conflict of interest exists and, if so, whether the foundation should nonetheless enter into the contract or transaction because it is in the foundation's best interest. Article v. Violations of the conflict of interest policy 1.failure to disclose conflict. If the board or committee has good reason to believe that an interested person has failed to disclose an actual or potential conflict of interest, it shall inform the interested person of the basis for such belief and afford the interested person an opportunity to explain the alleged failure to disclose prior to the board or such committee taking any action with respect to the contract or other transaction involving a conflict of interest. 2.disciplinary action. If, after hearing the response of the interested person and making any further investigation as may be warranted in the circumstances, the board or committee determines that the member has in fact failed to disclose an actual or potential conflict of interest, the board or such committee may take appropriate disciplinary and corrective action, which may include removal of a director from the board or a committee or termination of an employee's employment. Each interested person shall annually sign a statement which affirms that such person has received a copy of the policy, has read and understands the policy and has agreed to comply with the policy. In addition, each interested person shall disclose on such annual statement any relationships, circumstances or positions in which the interested person or a family member is involved that he or she believes could result in, cause or contribute to a conflict of interest arising. The policy is reviewed annually by the board of directors or the audit committee of the board of directors.”

“The independent compensation committee of the board reviews and approves the executive level salaries on an annual basis. They use salary surveys from similar sized organizations within the performing arts industry for benchmarking. Other than these executive level employees, no other employees of the organization meet the criteria to be classified as officers or key employees.”

“The financial statements are available upon request. The organization's governing documents and conflict of interest policy are not available to the public.”

“Other fees: program service expenses 417,914. Management and general expenses 674,728. Fundraising expenses 348,234. Total expenses 1,440,876. Education fees: program service expenses 144,173. Management and general expenses 0. Fundraising expenses 0. Total expenses 144,173. Production fees: program service expenses 225,317. Management and general expenses 0. Fundraising expenses 0. Total expenses 225,317. Programming fees: program service expenses 375,524. Management and general expenses 0. Fundraising expenses 0. Total expenses 375,524. Security sevices: program service expenses 203,015. Management and general expenses 0. Fundraising expenses 0. Total expenses 203,015.”