Kimmel Center Inc.

“Review of form 990: form 990 is prepared by an international accounting firm under the direction of the organization's finance staff. It is reviewed in depth by the audit committee of the organization's board of directors which meet with the finance staff and the independent tax preparers/advisors to perform this review. A copy of the form 990 is then given to each member of the board of directors and a reasonable amount of time is granted for comments. Thereafter, the form 990 is filed with the internal revenue service.”

“Conflict of interest policy: kimmel center, inc. Regularly and consistently monitors and enforces compliance with its conflict of interest policy. The center's bylaws prescribe rules for defining, reporting and otherwise dealing with conflicts of interest by members of the board of directors and their household members. This is a responsibility of the chair of the board. The center also has a conflict of interest policy which applies to all employees and their immediate family members. Kimmel center's corporate officers are responsible for determining whether a conflict exists and insuring that all transactions are handled appropriately under this policy.”

“Review of compensation: process for determining compensation of the chief executive officer: the ceo receives an annual performance evaluation completed by the chair of the board of directors and the chair of the human resources & compensation committee. Ceo performance and compensation are also reviewed at a meeting of the full board of directors. Only those members of the board who are free of conflicts of interest may be involved in the evaluation of ceo compensation. In determining ceo compensation, the chair reviews national and local compensation studies of comparable organizations and considers individual and organizational performance against goals. The executive committee keeps a record of the meetings and discussions relative to ceo compensation. The justification for recommended adjustments is appropriately documented. Process for determining compensation of other officers or key employees: the compensation of other officers and key employees is determined by the chief executive officer based on prevailing compensation for these positions at comparable organizations both locally and nationally as well as performance against individual and organizational goals.”

“Governing documents: the kimmel center makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“The kimmel center for the performing arts (the center) operates and maintains world-class performance venues including the kimmel center for the performing arts, the academy of music, and the merriam theater. The center provides state-of-the-art venues and support facilities for resident companies and a broad range of other regional performance groups at below costs. The center presents artistic programming of the highest quality that serves diverse audiences and brings world-renowned artists to philadelphia. The center also provides vital arts education and community programming to serve the interests of a broad and diverse audience and invests in burgeoning local talent with jazz and theater residency programs which act as an incubator for new works of art. In fiscal year 2020, the kimmel center campus engaged, through its free and ticketed events, an estimated total of 1 million patrons. The center also provides invaluable arts learning opportunities. Free or low-cost programming helps fill a gap in education funding in local schools. Some examples include: performing arts classes, student matinees, showstoppers musical theater program, creative music program for jazz, broadway dreams summer program, summer jazz camp, and our nationally recognized pnc "grow up great" program. Programs are specially designed to create multiple intensive experiences with depth, many of which culminate in performances. With a special focus on jazz and musical theater, the kimmel center's education programs reach over 26,773 students in greater philadelphia. The spread of the coronavirus (covid-19) outbreak in the united states has resulted in economic uncertainties which have negatively impacted the center's business operations. While the disruption is expected to be temporary, there is uncertainty surrounding the duration and extent of the impact. The center closed in march 2020 in compliance with government guidelines. Since closing in march, more than 800 events were cancelled or rescheduled. Aggressive cost-containment measures, including staff reductions and suspension or renegotiation of contracts with vendors, were implemented that significantly reduced the center's annual operating budget. Driven by reduced ticket sales and venue rentals, the financial impact of covid-19 is expected to be significant. Upon reopening, the center initially expects lower than normal audience levels and increased expenses related to health and safety measures. A covid-19 relief fund campaign has begun, and the board has increased the spending rate from the endowment fund.”

“Number of individuals receiving form w-2 in 2019: the total number of individuals employed who received a form w-2 in 2019 was 1,013, including current and former employees. Of these, 759 were seasonal, part-time employees who earned less than $10,000 each. There were 254 full-time employees including: stage hands, box office, security, administrative, facilities, marketing, fundraising and programming employees.”