Walnut Street Theatre Corporation

“The form 990 is reviewed by the audit committee. After review the form 990 is made available to the board of directors. Before filing, a conference call is held with the accounting firm responsible for the preparation of the form 990 in order to address any questions from the board. After board approval, the form 990 is filed electronically with the irs.”

“The theatre's conflict of interest policy shall be provided to voting members and employees, and any other persons holding positions of responsibility and trust on behalf of the theatre, before serving the theatre. These individuals shall agree to abide by the policy and shall disclose their affiliations with any organization with which the theatre does business by completing the attached conflict of interest statement and disclosure form. Given the potential for material conflicts of interest to arise, the theatre requires voting members to provide a written disclosure of affiliations both at the inception of their initial term and annually thereafter. Employees also are requested to provide written disclosure when their employment with the theatre commences. In addition, both voting members and employees have a continuing obligation to disclose any actual or potential conflicts of interest whenever such situations arise. Voting members and members of management should submit all disclosures directly to the chairperson of the governance committee. All other employees should submit their disclosures to the managing director. The theatre also requires voting members and employees to abstain from decision-making on issues about which they have potential conflicts of interest. Disclosure, participation and abstention shall be recorded in the minutes of the meeting(s) at which the issue is discussed and decided.”

“The board of directors determines compensation by: - review and recommend to the executive committee of the board of trustees for approval the producing artistic director contract (multi-year). - review the organization's staff compensation program annually, including salary ranges for particular positions, merit pay and benefits provided and communicate the committee's findings to the executive committee. - comparability data was used to determine the president's and other officers' compensation.”

“The organization makes its governing documents, conflict of interest policy, and financials statements available to the public upon request.”

“Impairment loss -1,415,454.”