Lincoln Center Development Project Inc.

“FORM 990, PART I, LINE 1 AND PART III, LINE 1 TO IMPLEMENT AND OVERSEE FOR CHARITABLE PURPOSES THE PLANNED REDEVELOPMENT AND TRANSFORMATION OF THE LINCOLN CENTER CAMPUS AND TO PROVIDE A MYRIAD OF SERVICES THAT WOULD FOSTER THE PERFORMING ARTS TO IMPROVE THE CULTURAL LIFE OF COMMUNITIES THROUGHOUT THE UNITED STATES AND THE WORLD. PROGRAM SERVICES FORM 990, PART III, LINE 4a During the fiscal year ended June 30, 2020 Redevelopment Project expenses primarily consisted of travertine restoration, design development, and other critical projects for the David Geffen Hall renovation.”

“Form 990, part v, line 2a and part vii lincoln center development project's (lcdp) payroll is administered by lincoln center for the performing arts, a related section 501(c)(3) public charity. Lcdp reimburses lcpa for salaries and benefits of lcdp employees and an allocable portion of lcpa employees working on behalf of lcdp. Governing body and management form 990, part vi, lines 6, 7a and 7b there are no stockholders. The board is a single member corporation, with lincoln center for the performing arts, inc. As its sole member, with three directors designated by lincoln center for the performing arts, inc. Voting members have the general power to control and manage the affairs and property of lcdp and adopt rules and regulations governing its actions. Certain governance decisions are reserved to lcdp's sole member, lincoln center for the performing arts, inc., including the right to remove a director with or without cause and the right to change the number of directors on the board.”

“Form 990, part vi, line 11b lcdp's form 990 is prepared by its independent accounting firm with data provided by its finance staff. When lcdp's staff and accounting firm approve the draft return, it is then provided to the audit committee for review and approval. Lcdp's board of directors has delegated responsibility for reviewing form 990 to the audit committee. When the audit committee approves the final draft, a copy is provided to the full board of directors prior to filing with the internal revenue service.”

“Form 990, part vi, line 12c lcdp's directors and officers as well as certain other key persons may, from time to time, be associated, either directly or indirectly, with individuals, companies or other entities that might be under consideration to engage in transactions or participate in other arrangements with lcdp. To address this possibility and the specific statutory requirements of the new york not-for-profit corporation law, lcdp has a conflict of interest policy. Among other things, this policy provides for those covered by it (principally, directors, officers and others who have officer-like responsibilities, manage lcdp or a segment of lcdp representing a substantial portion of lcdp's activities, income or assets, or control or determine a substantial portion of lcdp's capital expenditures or operating budget) to complete a related party questionnaire prior to election or appointment (or as soon thereafter as possible) and to update the questionnaire annually and whenever there is a change of circumstances. In addition, if a person covered by the policy becomes aware of any related party transction (as defined in the policy), the policy provides for the person to promptly disclose this information, and the person will be recused from consideration of any transaction or arrangement that is a related party transaction with respect to them. The policy also provides for certain co-investment relationships to be disclosed, and a disinterested review of the circumstances may result in a determination to require recusal. The policy provides for any approval of a related party transaction to be made by a majority of the disinterested members of the lcdp audit committee.”

“Form 990, part vi, line 15a lcdp's managing director is paid by lcpa, a related organization, with compensation governed by a written contract amended by lcpa in 2019 to include compensation related to service as managing director of lcdp. In determining the managing director's compensation related to lcdp, lcpa reviewed compensation benchmarks for persons with similar responsibilities from comparable development companies and prior written lcpa contracts. The individuals involved in assessing and determining compensation for the managing director did not have a conflict of interest under lcpa's or lcdp's conflict of interest policy. The lcdp board elects the managing director and approves the lcdp budget, which includes a portion of the managing director's total compensation. The lcdp board is independent of the managing director.”

“FORM 990, PART VI, LINE 19 LCDP makes its annual financial statements available on Lincoln Center's website. Other governing documents and 990 are available upon request.”