Berkeley Symphony Orchestra

“In accordance with common practice in the nonprofit community, the Board delegates certain matters to The Executive Committee, which is empowered to act between board meetings if necessary, and sometimes with specifically delegated authority to act in particular areas on behalf of the full board. The composition of the executive committee includes certain members of the organization's board.”

“Form 990 is prepared by an outside tax professional. The form is then reviewed bythe organization's management, a member of the board of directors, and the executivedirector. This group of individuals then discusses the contents of the return withthe outside tax professional. After a full review (with modifications wherenecessary), the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.”

“Members of the board of directors review all potential conflicts of interest at least annually. The executive director and all board members are required to disclose (in writing) potential conflicts and any related party affiliations. Loans between the organization and members of management and the board are strictly prohibited. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.”

“Members of the board of directors review the compensation of all high-level personnel periodically in accordance with irs rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with irs guidelines and the organization's policies and procedures.”

“Compensation of other personnel and key employees is reviewed periodically by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.”

“All of the organization's governing documents, financial statements and other legalfilings are maintained in a secure environment and held available for inspection bytax authorities and the general public. Tax returns are posted annually towww.guidestar.org (where it is available for viewing as an electronic copy) and are also available at the organization's office in berkeley, california (for a physical inspection).”

“Client Note 1 - Property and Equipment----------------------Property and equipment consist of the following at July 31, 2014 and 2013: 2014 2013 --------- ---------Office equipment $ 91,046 $ 89,387Orchestra equipment 3,000 3,000Less: accumulated depreciation (91,957) (89,973) --------- ---------Property and equipment, net $ 2,089 $ 2,181 ========= =========Depreciation expense amounted to $1,751 and $233 for the years ended July 31, 2014 and 2013, respectively. Union Pension Plans-------------------The Symphony is obligated to contribute funds to pension plans on behalf of its musicians. These plans include all union employees covered by a collective bargaining agreement. Contributions to the union-operated plans amounted to $19,920 and $21,717 for the years ended July 31, 2014 and 2013, respectively.”