710 Main Street Inc.

“710 main street, inc. (710 main) has given control of the management duties and daily activities of the organization to shea's o'connell preservation guild ltd (the guild). Effective march 1, 2012, the guild entered into a management agreement with 710 main for a five-year term with an additional five-year automatic extension, in which the guild was appointed as 710 main's sole and exclusive representative, manager, and agent for the purposes of supervising, managing, promoting, maintaining, and operating 710 main theatre. Monthly management fees under the agreement are $3,333. Total management fees paid for the year ended june 30, 2017 are $40,000.”

“Shea's o'connell preservation guild, ltd. Is the sole member of 710 main street, inc.”

“Shea's o'connell preservation guild, ltd. Is the sole member of 710 main street, inc. Shea's will appoint and remove the directors of the organization.”

“All board actions will be subject to approval by the sole member shea's o'connell preservation guild, ltd.”

“A copy of form 990 was provided to the organization's governing body for their approval before it was filed.”

“The organization will review any potential conflict of interest that may arise when entering into transactions or arrangements that may benefit the interest of a board member.”

“The president/ceo and vice president of finance of shea's o'connell preservation guild, ltd. (shea's), the sole owner of 710 main street, inc., also hold the same positions at 710 main street, inc. Both employees are paid by shea's and the organization has its own process for review and approval of compensation.”

“The organization makes its governing documents, and financial statements available to the public upon request.”

“Employees are paid from shea's o'connell preservation guild, ltd, the sole owner of 710 main street, inc. 710 main will reimburse shea's for the amount of payroll expense that was incurred. All payroll will be reported through shea's o'connell preservation guild, ltd.”

“Payroll reimbursement of shea's o'connell preservation guild ltd.: program service expenses 133,631. Management and general expenses 4,356. Fundraising expenses 0. Total expenses 137,987.”