Lincoln Center Development Project Inc.

“Governing body and management there are no stockholders. The board is a single member corporation, with lcpa as its sole member, with four directors designated by lcpa. Voting members have the general power to control and manage the affairs of lcdp and adopt rules and regulations governing its actions. Certain governance decisions are reserved to lcdp's sole member, lcpa, including the right to remove a director with or without cause and the right to change the number of directors on the board.”

“See narrative reported above titled form 990, part vi, section a, line 6.”

“See narrative reported above titled form 990, part vi, section a, line 6.”

“Form 990 review 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 lcdp board of directors for review prior to filing with the internal revenue service.”

“Conflict of interest policy 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 transaction (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.”

“Compensation lcdp's executive director is partially 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 executive director of lcdp. In determining the executive 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 executive director did not have a conflict of interest under lcpa's or lcdp's conflict of interest policy. The lcdp board elects the executive director and approves the lcdp budget, which includes a portion of the executive director's total compensation. The lcdp board is independent of the executive director.”

“Document availability lcdp makes its annual financial statements available on lcpa's website. Other governing documents and 990 are available upon request.”

“Organization's mission 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 city, the united states and the world.”

“Program services during the fiscal year ended june 30, 2024, redevelopment project expenses primarily consisted of the completion of interior design and construction, along with other critical project elements of the david geffen hall renovation, in addition to the planning expenses related to the project to renovate the west side of the lincoln center campus. Form 990, part v, line 2a and part vii disclosure regarding payroll administration lcdp's payroll is administered by lcpa, 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.”