Ithaka Harbors Inc.

“The form 990 is reviewed by the audit and risk management committee and it approves release to the entire board for an opportunity to review prior to the electronic filing of the form.”

“Ithaka's conflicts of interest policy applies to its governing board, corporate officers, key employees, and others representing the organization. Members of ithaka's governing board are required to disclose all conflicts of interest at the time they arise and annually via a written disclosure process. The audit committee is charged with reviewing conflicts of interest transactions and associated decisions and making a determination regarding any restrictions to be imposed on the transaction. Ithaka's officers and key employees are likewise required to disclose to their supervisors promptly all conflicts of interest that arise and complete an annual conflicts of interest disclosure statement.”

“Compensation policy: the compensation committee of the board of trustees of ithaka harbors, inc. Conducts an annual review of officer and non-officer compensation. As part of this review, the committee references available market data for comparable positions and internal equity considerations, and it utilizes an analysis of officer and non-officer salaries prepared by independent external sources using industry benchmarking data. The annual review process covers all officers and other staff. Compensation decisions for officers are proposed by the compensation committee of ithaka, then reviewed and approved by ithaka's full board of trustees. Compensation decisions for non-officer employees are approved by the compensation committee of ithaka.”

“Ithaka's form 990 and annual financial statements are available upon request; other governing documents are not open for public inspection.”

“Each member of the board of trustees, except the president, is entitled to a stipend for services provided as a member of the governing body of ithaka harbors, inc. No payments exceeded the reporting threshold of $10,000; accordingly these board members are deemed independent for reporting purposes on form 990, part 1, line 4 and part vi, section a, line 1b.”

“The respective Boards of Trustees of Artstor INC. ("ARTSTOR") and ITHAKA HARBORS, INC. ("ITHAKA") agreed to a strategic alliance that provided a change in the governing structure of Artstor. In January 2016, Artstor amended its governing documents whereby ITHAKA became its sole corporate member, with Ithaka having the full power and authority to manage the administrative and financial operations of Artstor as well as the authority to appoint the Board of Trustees and officers of Artstor. Under the alliance, Artstor continued to remain its own legal entity and operate contractually with key legacy vendors for office space, assets purchased, leased equipment, etc. In order to provide a more integrated approach to support the activities of Artstor, effective January 1, 2017 (i) all employees of Artstor were transitioned to ITHAKA, (ii) the Artstor Retirement Plan was merged with the ITHAKA 403(b) Retirement Plan, and (iii) the Section 457(b) deferred-compensation plan for eligible employees was subsumed by ITHAKA. In October 2018, ITHAKAs Board of trustees elected to merge Artstor with and into ITHAKA effective December 31, 2018. SEE ALSO FORM 990, SCHEDULE R FOR FURTHER DETAILS.”

“Jstor generates income to support its services primarily through an archive capital fee ("acf") and annual access fees ("aaf"). An acf is a one-time, non-refundable fee that provides for long-term preservation of the archive and other mission-related purposes. Aaf's are charged to participating institutions to cover the recurring costs of updating, maintaining, and providing access to the jstor archives.”

“Savings and temporary investments - end of year includes $27,030,300 of cash held for investment during the period december 20, 2018 to january 1, 2019. On january 1, 2019, these funds were invested in a private placement.”

“Other changes in net assets consist of the following: net deficit of artstor at december 31, 2018 became a deficit of ithaka as of december 31, 2018 - (date of merger) $(2,113,713) goodwill reported by ithaka representing the excess of consideration received over the fair value of the net assets aquired in the merger with artstor inc. 3,950,957 write-off of uncollectible fees receivables (31,065) ___________ total $ 1,806,179 ===========”